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POST-MARKET REPORT
Indian benchmark indices erased previous session losses and ended higher on July 1 led by IT, auto, and FMCG stocks.
At close, the Sensex was up 443.46 points or 0.56 percent at 79,476.19, and the Nifty was up 131.40 points or 0.55 percent at 24,142.
Top Nifty gainers included Tech Mahindra, Wipro, Bajaj Finance, UltraTech Cement, and Grasim Industries, while losers were NTPC, Eicher Motors, Dr Reddy’s Labs, SBI, and Apollo Hospitals.
Among sectors, except power, PSU Bank, and realty, all other indices ended in the green with the IT index rising nearly two percent.
The broader indices hit a fresh record high with the BSE midcap and smallcap index adding more than 1 percent each.
STOCKS TODAY
PVR-Inox: The stock of this multiplex operator surged 4.8 percent fuelled by optimism surrounding strong box office collections and an impressive upcoming film slate. The newly released multi-starrer film ‘Kalki 2898 AD’ grossed an impressive Rs 415 crore worldwide, with over Rs 220 crore net in India in just 3 days.
Zomato: The stock of this food aggregator rose 1.57 percent on July 1, approaching their 52-week high of Rs 207 amid heavy trading volumes. This uptick also followed reports that Zomato is set to enter derivatives trading and join the NSE Nifty 50 index.
REC: The stock jumped 4.8 percent after the public sector undertaking reported a 27.8 percent increase in loan disbursements to Rs 43,652 in the first quarter of fiscal year 2024-25.
JB Chemicals: The stock surged nearly 9 percent intraday after Kotak Institutional Equities initiated coverage on the stock with a ‘buy’ rating, projecting that the stock will trade at a premium to other domestically-focused companies. The stock ended 2.01 percent higher.
Alembic Pharma: Shares of the pharma company gained around 2 percent after it announced that it has received tentative approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Bosutinib Tablets, 100 mg, and 500 mg.
Ashok Leyland: The stock fell 1.2 percent after the automaker reported lower-than-expected June auto sales. The commercial vehicle (CV)-maker’s total sales in June this year came in at 14,940 units, which was 2 percent lower compared to the June 2023 numbers at 15,221.