Market closes flat as a rally in IT stocks offsets early losses
By Trendlyne Analysis

 

Nifty 50 closed at 24,211 (4.1, 0.0%), BSE Sensex closed at 77,616.40 (47.0, 0.1%) while the broader Nifty 500 closed at 23,347.05 (-1.4, 0.0%). Market breadth is in the green. Of the 2,771 stocks traded today, 1,441 were on the uptick, and 1,277 were down.

Indian indices closed flat after paring early losses, supported by a rally in IT stocks and foreign fund inflows. The Indian volatility index, Nifty VIX, rose 8.4% and closed at 13.3 points. Just Dial surged 20% after its Q1FY27 net profit rose 4% YoY, beating Forecaster estimates by 28%, driven by a larger share of high-margin digital services. Revenue increased 8% to Rs 459 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed flat. Nifty IT and BSE IT Sector are among the top index gainers today. According to Trendlyne’s sector dashboard, Software & Services emerged as the best-performing sector of the day, with a rise of 3.6%.

Asian markets closed mixed. European markets traded with varied trends. US index futures traded mixed. Meanwhile, investors tracked renewed US-Iran strikes over the weekend, with both sides making conflicting claims on whether the Strait of Hormuz remained open. Brent crude oil futures traded higher as vessel traffic through the Strait slowed to a five-week low, raising concerns over supply disruptions.

  • Relative Strength Index (RSI) indicates that Godrej Industries and Lodha Developers are in the overbought zone.

  • HG Infra Engineering rises after securing a 10-year contract from Rajasthan's Department of Skill, Employment & Entrepreneurship to upgrade Industrial Training Institutes (ITIs) under the Public-Private Partnership (PPP) model. The estimated value of the contract is Rs 241 crore.

  • Siemens secures a Rs 263 crore order from Rail Vikas Nigam (RVNL) to supply overhead rail electrification technologies for the Rishikesh–Karnaprayag rail line project in Uttarakhand. The contract covers the installation of rigid and flexible overhead catenary systems (ROCS and FOCS) across nearly 102.5 track kilometers.

  • Bajaj Consumer Care hits a new all-time high of Rs 692 as its net profit surges 84.8% YoY to Rs 70.8 crore in Q1FY27, supported by higher sales and margin expansion. Revenue increases 25% to Rs 342 crore, driven by strong momentum across its product portfolio during the quarter. The company appears in a screener of stocks with zero promoter pledge.

  • Crude oil prices rise as renewed US-Iran military tensions revive concerns over potential supply disruptions through the Strait of Hormuz. Choice Broking’s Commodity Fundamental Analyst Pinky Yadav says prospects for fresh diplomatic talks have weakened, with Tehran seeking progress on Hormuz transit and oil exports before negotiations resume.

  • Puravankara surges over 12% as its pre-sales grow 28% YoY to Rs 1,439 crore in Q1FY27. The company's collections from the real estate business jump 40% to Rs 1,199 crore during the quarter.

  • L&T Finance is rising as its Q1FY27 net profit grows 28.7% YoY to Rs 902.5 crore, supported by higher net interest and fee income. Revenue increases 22.4% to Rs 5,212.9 crore, driven by strong growth across its retail lending portfolio during the quarter. The company appears in a screener of stocks with improving ROE over the past two years.

  • Hindalco’s parent company, Aditya Birla Group, reportedly plans to invest an additional Rs 12,000 crore to expand its Odisha alumina refinery from 1 million tonnes per annum (MTPA) to 3 MTPA, taking the total investment to Rs 20,000 crore.

  • Goldman Sachs notes that foreign institutional investors have turned net buyers since mid-June, with $2 billion inflows led by financials sector. The brokerage says global funds remain significantly underweight on India, leaving ample scope for further allocation as sentiment improves. India ranks among the most underweight markets in emerging market portfolios, behind only Taiwan and Korea.

  • Lux Industries to invest Rs 600 crore to expand its manufacturing facility at Dankuni in West Bengal. The investment will expand the Dankuni plant's annual manufacturing capacity by around 2.7x to 32 crore pieces. The company expects to recover the investment in five years while improving operational efficiency, expanding margins and optimising production costs.

  • Swiggy is falling as food regulator FSSAI issues nine notices to its quick commerce platform, Swiggy Instamart. The FSSAI cites several consumer complaints alleging the supply of rotten, expired, contaminated and otherwise unsafe food products through Instamart. The regulator has directed the platform to submit a detailed explanation and compliance report, failing which appropriate legal action will be initiated.

  • NTPC is rising as its board of directors approves an investment of Rs 20,456.7 crore to develop the 1,600 MW Lara Super Thermal Power Project, Stage-III, in Chhattisgarh.

  • TCS shares rise over 6% after the company signs a multi-million-dollar, multi-year deal with ABB to transform its global network operations. Under the agreement, TCS will expand its role to deliver end-to-end network operations through a network-as-a-service model, helping ABB enhance user experience, improve efficiency, strengthen security, and support digital operations.

  • JSW Energy's wholly-owned subsidiary, JSW Energy PSP Eleven (JEPEL), secures orders worth Rs 443.7 crore from Bondada Renewable Energy to supply Battery Energy Storage Systems (BESS) and Power Conversion System (PCS) solutions.

  • NMDC falls as it reduces domestic iron ore prices amid softer international rates and the arrival of the monsoon season. Prices of lump ore have been cut by around 4.6%, while fines have been reduced by 3.2%, both on a per-tonne basis.

  • Bharat Dynamics is falling on reports that the government plans to open missile manufacturing to private companies. The move comes amid rising global demand for Indian missile systems. Missile production has so far largely remained under the control of state-owned defence companies, and the shift is aimed at expanding production capacity to meet growing domestic and export demand.

  • Kalyan Jewellers India surges over 10% as reports suggest 52.9 lakh shares (0.5% equity), amounting to Rs 258 crore, change hands in a block deal.

  • Goodluck India surges to a new all-time high of Rs 1,672.1 as its board of directors approves a 2-for-1 bonus issue of equity shares.

  • Housing and Urban Development Corporation is rising as it signs a memorandum of understanding (MoU) with the Government of Odisha to provide up to Rs 1 lakh crore in funding over five years for urban infrastructure projects.

  • LTM's net profit grows 5.3% QoQ to Rs 1,466.3 crore in Q1FY27, helped by lower depreciation and amortisation expenses. Revenue increases 2.8% to Rs 11,608 crore, driven by higher sales in the financial services and technology segments during the quarter. The company appears in a screener of stocks with a PEG ratio below the Industry average.

  • L&T Finance MD & CEO Sudipta Roy is targeting over 20% loan growth while staying focused on risk, liquidity, and asset quality. He notes that lower monsoons and the West Asia crisis tempered growth in Q1, but strong realizations, higher insurance yields, and digital partnerships remain key positives. The NBFC also plans AI-driven cost savings of 30–40 bps over the next 3–4 years.

  • Keystone Realtors is falling as its pre-sales decline 42% YoY to Rs 617 crore in Q1FY27 due to no new launches. However, collections rise 4% to Rs 599 crore during the quarter.

  • Just Dial soars over 10% as its Q1FY27 net profit beats Forecaster estimates by 27.6% after growing 4.1% YoY to Rs 166.2 crore, driven by an improved share of high-margin digital services. Revenue climbed 7.9% to Rs 458.9 crore, supported by higher client acquisitions and collections. It features in a screener of stocks with increasing revenue over the past eight quarters.

  • Jindal Steel is falling as its Chief Executive Officer (CEO), Gautam Malhotra, tenders his resignation, effective July 15.

  • Avenue Supermarts (DMart) falls as its Q1FY27 net profit misses Forecaster estimates by 4.7% despite growing 11.3% YoY to Rs 860.6 crore due to slow like-for-like (LFL) sales. Revenue increases 14.9% to Rs 18,794.5 crore, driven by strong demand in non-metro markets during the quarter. The company appears in a screener of stocks with book value per share improving over the last two years.

  • Nifty 50 was trading at 24,030.55 (-176.4, -0.7%), BSE Sensex was trading at 76,926.36 (-643.0, -0.8%), while the broader Nifty 500 was trading at 23,193.35 (-155.1, -0.7%).

  • Market breadth is in the red. Of the 2,275 stocks traded today, 736 were in the positive territory and 1,445 were negative.

Riding High:

Largecap and midcap gainers today include Kalyan Jewellers India Ltd. (510.65, 7.3%), JSW Infrastructure Ltd. (351.20, 6.4%) and Tata Consultancy Services Ltd. (2,181.50, 5.4%).

Downers:

Largecap and midcap losers today include Siemens Energy India Ltd. (3,404.30, -3.5%), GE Vernova T&D India Ltd. (4,525.60, -3.2%) and Indian Bank (842.55, -3.2%).

Crowd Puller Stocks

19 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Newgen Software Technologies Ltd. (590.50, 14.2%), Sonata Software Ltd. (316.05, 10.8%) and Pine Labs Ltd. (155.14, 6.8%).

Top high volume losers on BSE were Avenue Supermarts Ltd. (3,994.10, -2.1%), ICICI Lombard General Insurance Company Ltd. (1,787.30, -2.1%) and Nuvoco Vistas Corporation Ltd. (316.55, -1.1%).

Affle 3I Ltd. (1,539.30, 4.0%) was trading at 10.4 times of weekly average. Balrampur Chini Mills Ltd. (583, 2.8%) and JSW Infrastructure Ltd. (351.20, 6.4%) were trading with volumes 6.7 and 5.2 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

19 stocks hit their 52 week highs,

Stocks touching their year highs included - CCL Products India Ltd. (1,229.20, 1.3%), Federal Bank Ltd. (332.50, 0.8%) and Granules India Ltd. (897.65, 0.9%).

22 stocks climbed above their 200 day SMA including Sonata Software Ltd. (316.05, 10.8%) and HEG Ltd. (575.40, 5.6%). 10 stocks slipped below their 200 SMA including Indian Bank (842.55, -3.2%) and Tata Steel Ltd. (187.11, -2.1%).

More from Trendlyne Marketwatch
More from Trendlyne Analysis
Recommended