Daily Analysis of Stock Market – NIFTY – 24th July 2020

On Friday the market opened in a gap down and remained in red for the whole session. The market was very much volatile today. In the afternoon market filled the gap. On the closing bell, the Nifty index closes above 11190, Niftybank index closed above and hold 22660 and the Sensex settled below 38150. The Nifty index lost around -21.30 points, Niftybank index lost around -421.35 points and the Sensex lost more than -11.57 points in a single day.

Advertisement

Today, the Nifty index opened at 11149.55 went up to 11225.40 and closed at 11194.15 after making the low of 11090.30. Nifty Bank index opened at 22853.20 and stayed volatile between 22854.05 to 22417.20 and closed at 22662.05

According to Nifty 15 minutes chart, ‘if the Nifty index breaks and sustains above 11211 then the rise will continue and it can go towards 11358, and if the market breaks and sustains below 11109 levels then it can go down 11034 to 10962.

Advertisement

NEWS HIGHLIGHTS

  • CSB Bank share price gains 7% as SBI Funds gets RBI nod to raise the stake.
  • Asian Paints Q1 profit falls 67% to Rs 218 crore but beats estimates.
  • Rupee settles 8 paise lower at 74.83 against the US dollar.
  • IndusInd Bank shares gain 4% as Route One gets RBI nod to raise the stake.
  • Mphasis share price up 10% after the June quarter profit rises to Rs 264 crore.
  • Biocon share price falls 2% on June quarter numbers.
  • AU Small Finance Bank share price hits the upper circuit after Q1 profit rises to Rs 201 crore.
  • Mahindra Group launches Mahindra University in Telangana.

Trading zone for the Nifty index on 24th July 2020

Upside Resistance:-  11250, 11305, 11385.

Downside Support:-  11115, 11035, 10979.

Nifty 50

AdvancesDeclines
842

In the Nifty 50, 8 stocks traded in green and whereas the only 42 were declined on 24th July 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Reliance4.29Zee Entertain-4.56
HCL Tech4.15Hindalco-3.58
Tech Mahindra3.19Axis Bank-3.31
Sun Pharma2.02SBI-3.18
Infosys1.64GAIL-2.69

The most active value-wise stocks were Reliance, Bajaj Finance, ICICI Bank, Infosys, Induslnd Bank, and the volume-wise were SBI, ITC, Reliance, ICICI Bank, Tata Motors.

Important Results To Be Declared Tomorrow

  • Persistent Systems
  • ICICI Bank
  • Supreme Industries

FII and DII trading activity on NSE, BSE and MSEI on Capital Market Segment as on 24th July 2020

FII (Cr.)DII (Cr.)
409.88-1002.98
Advertisement