Market Bizzz

The NSE Nifty rose 428.75 points, or 1.76%, to close at a record of 24,834.85. The index hit a lifetime high of 24,861.15 during the day. The BSE Sensex rose 1,293 points, or 1.62%, to end at 81,333 after hitting a high of 81,427.18. The index fell 10 points short of the all-time closing level of 81,343.

The net interest income – the difference between interest earned and paid – rose 11.1% to ₹5,408 crore. Net interest margin (NIM) for the June quarter came in at 4.25%.

Mayuresh Joshi from Marketsmith India shared insights on favored pharma stocks like Natco, Morepen, Cipla, and Dr Reddy’s, emphasizing strong performance and promising pipelines. Energy sector outlook for HPCL, IOCL, ONGC, and Selan Exploration was also positive, predicting stable trajectories and significant investments. Joshi also says that the market is now moving on post the budget and looking at earnings.

The market returns will revert to what the corporate earnings growth rate is and I do believe that corporate earnings long-term growth rate should be about 14% or so in India and that is what a good long-term investor in the market should get, says Rashesh Shah, Chairman, Edelweiss Group.

The fund house’s market share in total AUM fell marginally to 5.27% during the quarter from 5.76% in the previous year.

SBI Life Insurance Company Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 163552.49 Crore) operating in Financial Services sector.

Larsen & Toubro Ltd., incorporated in the year 1946, is a Large Cap company (having a market cap of Rs 483870.92 Crore) operating in Construction sector.

24,000 Put has the highest OI, whereas there are some consistent call OI additions from 24,400 levels to 25,000 levels. The range is wider, however, 24,500/24,600 levels can act as a crucial resistance and the 24,000 level may act as a crucial support.

Dinesh Kumar Khara emphasized the Budget’s focus on employment, skilling, MSMEs, and youth, essential for inclusive growth. Initiatives include agriculture productivity, PMAY in urban development, nuclear plants for green energy, KCCs for rural credit, improved road infrastructure, and lower fiscal deficit. Private sector capex, green energy, and tax tweaks on market instruments are also highlighted.