The Sensex ended the day relatively flat, while the Nifty 50 edged up by 0.13%.
This modest uptick was led by gains in the metal, PSU Bank, and energy sectors. Investors are closely watching upcoming developments, particularly the Federal Reserve meeting, which is influencing global market sentiment.
Impact on the stock market
All sectors glimmered in the green. Information technology, automobiles, infra, metals, and pharma recorded the sharpest gains of 2-3%. Other sectors, including banks (private and PSUs), FMCG, realty, and energy, also surged by 1-1.5%t.
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| Sector/Index | Performance |
| IT & BPM sector | 0.88% |
| Healthcare sector | 0.48% |
| Oil & Gas sector | 1.52% |
| Real estate sector | 0.15% |
| PSU Bank in India | 1.20% |
Top gainers today
| Company | Price | Change (%) |
| Hindalco share price | 658.85 | +.89 |
| BPCL share price | 343.80 | +3.40 |
| Shriram Finance share price | 3,075.60 | +3.16 |
| Tata Steel share price | 153.96 | +2.97 |
| LTIMindtree share price | 5,676.10 | 2.02 |
Top losers today
| Company | Price | Change (%) |
| M&M share price | 2,765.15 | -2.65 |
| IndusInd Bank share price | 1,347.60 | -1.21 |
| Bajaj Auto share price | 9,770.65 | -1.19 |
| Axis Bank share price | 1,153.25 | -1.17 |
| SBI Life Insura share price | 1,671.55 | -1.03 |
Market aftermath: Impact on stocks
Techno electric’s surge
Techno Electric & Engineering Company made headlines today with its stock hitting the 5% upper circuit limit, which means trading was temporarily halted due to the stock reaching its maximum daily increase allowed.
The collaboration will involve Techno Electric investing minority capital and handling the entire execution of the projects on a Lump Sum Turnkey (LSTK) basis. The projects in question are Ishanagar Power Transmission Ltd (IPTL) and Dhule Power Transmission Ltd (DPTL).
Techno Electric’s stock has skyrocketed by 120%. This impressive rise outpaces the Nifty 50, which has only grown by 11% in the same period. This dramatic increase highlights strong investor confidence in the company’s future prospects and the potential success of these new projects.
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DCX systems hits upper circuit
DCX Systems also saw its shares hit a 5% upper circuit limit today, snapping a three-day losing streak. The boost came after the company secured new orders worth ₹107 crore. These orders include electronic kits and cable harness assemblies for the aerospace and defence sectors, both domestically and internationally.
The contracts involve supplying electronic kits and cable harnesses scheduled for delivery within the next 12 months. This is a positive development for the company, as it ensures a steady stream of revenue.
DCX Systems’ stock has had a mixed performance over the past year. Although it has gained 20% in the last year, it lags behind the Nifty 50’s 26% increase. Recent financial results showed a challenging start to the fiscal year, with a significant drop in net profit and revenue, which may be affecting investor sentiment.
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PSU insurers surge: stocks gain up to 19%
Shares of Shriram Finance reached an all-time high of ₹3,070 today, driven by HSBC’s upgrade of the stock’s target price. HSBC has set a target price of ₹ 3,600, suggesting a potential upside of over 17%.
HSBC’s positive outlook is based on the company’s strong strategic position and healthy operational metrics. The upgrade reflects confidence in Shriram Finance’s performance and future growth potential.
Shriram Finance’s stock has surged over 47% this year alone. This robust performance makes it a standout player in the market. However, there are risks related to its reliance on vehicle finance and potential challenges in its personal loan portfolio.
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Crude oil price decline
Crude oil prices fell today due to concerns over demand from China, a major global consumer. Multi Commodity Exchange (MCX) dropped to ₹6,340, while futures decreased to ₹6,292. Brent oil futures fell to $79.59, and WTI futures were at $75.42, reflecting a broader bearish market sentiment.
The decline in crude oil prices is largely attributed to fears of an economic slowdown in China, which impacts global demand expectations. As China’s growth prospects dim, oil prices tend to drop due to anticipated lower consumption.
Conclusion
On July 26 saw a mixed but notable movement in the Indian stock market. While the Sensex and Nifty showed resilience, specific stocks like Cipla and Paytm experienced significant gains due to positive corporate developments.
The surge in PSU insurer stocks highlighted market dynamics around low public float stocks. Meanwhile, crude oil prices remained influenced by global economic data and market expectations.
Investors should continue to monitor sector-specific developments and global economic indicators to navigate the market effectively.
Stay tuned on StockGro for more updates on market trends.
