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POST-MARKET REPORT
The Nifty and Sensex closed flat, recovering most of their morning losses. The indices were dragged down by metal and bank stocks, while FMCG stocks garnered significant investor interest, making the FMCG index the top gainer of the day.
At close, the Sensex was down 36.22 points or 0.05 percent at 79,960 and the Nifty 50 was down 3.30 points or 0.01 percent at 24,320.
Shares of ONGC (up 4.15 percent), ITC (up 2.34 percent), and HDFC Life (up 2.25 percent) closed as the top gainers in the index while the shares of Titan (down 3.33 percent), Divi’s Labs (down 3.23 percent) and BPCL (down 2.49 percent) closed as the top losers in the Nifty 50 index.
Most sectoral indices on the NSE ended with losses. Nifty PSU Bank (down 1.60 percent), Consumer Durables (down 1.28 percent), and Metal (down 0.93 percent) lost significantly.
Nifty Bank ended with a loss of 0.45 percent, while the Private Bank index dropped 0.25 percent. Nifty FMCG index jumped 1.63 percent, defying weak market sentiment. It was followed by Nifty Oil & Gas (up 0.88 percent).
STOCKS TODAY
Ajmera Realty: Shares were sharply higher by 8 percent earlier in the day, after the company posted strong sequential growth in operational numbers, and the management talked about a ‘5x growth strategy’ and sounded upbeat about the project pipeline with estimated Gross Development Value of about Rs 4,300 crore.
Titan: Shares fell nearly 4 percent as the stock was downgraded by JPMorgan to ‘neutral’ from ‘overweight’ rating earlier after the Tata Group company shared its June quarter business update.
Dabur: Shares rose over 4 percent after the company shared a positive business update for the April-June quarter. The company anticipates mid to high single-digit growth in consolidated revenue for Q1FY25.
Shalby: Shares fell nearly six percent after the company’s consolidated net profit for Q1 FY25 fell over 20 percent on year to Rs 16.6 crore. The company had recorded a net profit of Rs 20.8 crore in the year-ago period.
Marico: Shares surged over 6 percent after the company posted healthy business updates for the April-June quarter, with demand trends continuing the growth path.
Railway Stocks: RVNL, Ircon International, and IRFC surged up to 15 percent on the back of strong buying interest after Railway Minister Ashwini Vaishnav said last week that plans are in the works for 2,500 new general passenger coaches and 10,000 additional coaches.