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sensex today: Stock Market LIVE Updates: Retail investors make beeline for Zomato IPO. IT stocks in high demand. Profit booking in realty stocks. Mindtree jumps 8%. Wipro 4%

Domestic stock benchmarks started Wednesday’s session on a flat note amid selling pressure in private bank stocks. Tech Mahindra was the top Nifty50 early deal winner, up 0.70 percent. L&T, Adani Ports, Wipro, and HCL Tech were among the other blue-chip top performers. On the other hand, ICICI Bank was the biggest straggler, down 0.65 percent. Other losers include UltraTech Cement, HDFC Bank, Axis Bank and Eicher Motor. Just Dial gained 4 percent while Quess Corp lost 3 percent in early trading.

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WPI inflation falls to 12.07 percent in June; Food, crude oil prices are softening

IT stocks are leading the rally. Here are the top winners

Price as of 07/14/2021 12:17 pm, Click on company names to see their live prices.

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Mindtree shares 52-week high after Q1 earnings

Mindtree stocks rose over 9 percent on Wednesday after the IT company posted consolidated net income up 61.2 percent for the June quarter and expressed confidence in double-digit revenue growth in FY22.

Zomato IPO retail quota fully subscribed

Tata Metaliks stock is up over 8% over June quarter earnings

Tata Metaliks Ltd shares rose over 8 percent on Wednesday after the company reported net income of Rs 94.72 billion for the quarter ended June 30, 2021. After getting off to a firm start, the stock rose 8.06 percent to 1,299 rupees for the BSE.

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Zomato IPO so far subscribed 16% on the first day

The rupee drops 12 paises in early trading to reach 74.61 against the US dollar

The Indian rupee lost 12 paises to 74.61 against the US dollar in opening trading on Wednesday as the strong US currency and weak domestic stocks weighed on investor sentiment.

Info Edge adds 1% to Zomato’s IPO

Info Edge’s shares rose over 1 percent in trading Wednesday as Zomato launched its initial public offering of Rs 9,375 billion. The Zomato issue includes an offer to sell from Info Edge, India, valued at Rs 375 crore, which owns 18.55 percent of the online grocery delivery and restaurant discovery platform.

NMDC shares up 2% after co-board approves the demerger of NMDC Steel

The state-run NMDC said Tuesday that its board of directors had approved the demerger of NMDC Steel Limited. In a BSE filing, NMDC said that NMDC Steel is its wholly owned subsidiary, which is not currently doing business.

We continue to believe that any significant correction in the market should be used as an opportunity to get into quality stocks

– Binod Modi, Head – Strategy, Trust Title

Bank stocks trade lower

Price as of 07/14/2021 10:05 a.m., Click on company names to see their live prices.

Nifty appears to be consolidating in the 15,600–15,900 range: analysts

Top winners and losers in the broader market

Happiest Minds, Just Dial, Vakrangee, Mindtree, Mphasis and Coforge were winners in the field, while Quess Corps, Shilpa Medicare, Edelweiss Financials, Max Financial, Oberoi Realty and Bank of India were under selling pressure.

There may be a sharp correction or the bull may keep running. Whatever the result, security lies in high-quality largecaps that now only move slowly, rather than smallcaps that fly away. There is a bubble in small caps that will end badly for new retail investors chasing those small caps. Investors can book some gains and invest the money in fixed income securities and continue to invest in high quality largecaps in the IT, metals, pharmaceuticals, cement and FMCG sectors

– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Q3 result today:

Infosys, L&T Technologies, Hastun Agro Products, Craftsman Automation, Dodla Dairy and Tinplate Company of India are among the companies that will announce their quarterly results today.

Reliance Securities intraday selection:

Buy Aarti Industries: For today’s trading, a long position in the range of Rs 850-855 can be opened at a price target of Rs 876 with a strict stop loss at Rs 842. Buy City Union Bank: For today’s trade a long position can be initiated in the range of Rs 161-163 for a target of Rs 168 with a strict stop loss at Rs 159. Sell Godrej Consumer Products: For today’s trading, a short position can be initiated in the range of Rs 950-958 for a target of Rs 925 with a strict stop loss at Rs 964.

Traders post profits in real estate stocks; Nifty Realty index down 0.4%

Top winners and losers in the Sensex pack

Opening Bell: Sensex loses 50 points, Nifty under 15,800; Just Dial jumps 4%, Quess Corp tanks 3%

Pre-open session: Sensex up 20 points, Nifty below 15,800

Q1 results today

Mindtree, Tata Metaliks, Shree Ganesh Remedies, Deccan HealthCare, WS Industries (India) and Gagan Gases are among the companies that will announce their quarterly results today.

Zomato’s initial public offering of Rs 9.375 billion opens today

The highly anticipated Zomato IPO opens for subscription today. The online grocery and restaurant platform raised Rs 4.197 billion from 186 anchor investors on Tuesday ahead of its initial public offering. The company told the exchanges that it had allotted Rs 55.22 billion of shares for Rs 76 per share to anchor investors.

SGX Nifty signals a negative start

Nifty Futures on the Singapore Exchange traded 53.5 points, or 0.34 percent, lower at 15,781, suggesting Dalal Street was off to a negative start on Wednesday.

Tech View: Nifty50 resistance at 15,900 at

Nifty50 had a positive session on Tuesday as it easily broke its immediate resistance at 15,750. The index formed a small bullish candle with a long wick on the daily scale, indicating that every intraday sale was bought. Analysts said the 15,900-15,915 zone would be a major hurdle and the 15,650-632 range would act as immediate support for the future.

Tokyo stocks open lower US falls

Tokyo stocks opened lower on Wall Street on Wednesday after falling as investors weighed how a rise in US inflation data would affect monetary policy. The benchmark index Nikkei 225 lost 0.74 percent or 211.64 points to 28,506.60 in early trading, while the broader Topix index fell 0.54 percent or 10.63 points to 1,957.01.

US CPI inflation climbs to 5.4% in June

The US Department of Labor report showed that the consumer price index rose 5.4 percent (non-seasonally adjusted) in the 12 months ended June, its highest level since August 2008. Even though leading Fed officials say the big price increases are temporary Persistently high inflation could lead policymakers to distance themselves from the massive economic policies that markets have loved since the beginning of the Covid-19 pandemic.

US stocks have leveled off

Major US stock indices closed lower Tuesday after government data showed inflation continued to rise in June. All three major indices had finished on Monday with records, but by the close of trading on Tuesday the Dow Jones Industrial Average benchmark was 0.3 percent lower at 34,888.79. The broad-based S&P 500 lost 0.4 percent to finish at 4,369.21, while the tech-rich Nasdaq Composite Index fell 0.4 percent to 14,677.65.

The rupee will rise on day 3 and close at 74.49 if the stocks rise

The rupee gained 9 paise to close at 74.49 against the US dollar on Tuesday, marking the third straight day of gains from foreign fund inflows and positive domestic stocks. On the interbank foreign exchange market, the local unit opened higher at 74.49 versus the greenback and experienced an intraday high of 74.41 and a low of 74.50 during the session.

Sensex, Nifty on Tuesday

At the closing bell, the BSE Sensex was 397.04 points, or 0.76 percent, higher at 52,769.73 – breaking its three-session loss margin. This was also the benchmark’s best daily gain since May 31st. Likewise, the broader NSE Nifty rose 119.75 points, or 0.76 percent, to settle at 15,812.35.

Good morning, dear reader! Here is something to start your day of trading

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