Nifty50: 16,278 ▲ 229 (+1.4%)
Sensex: 54,521 ▲ 760 (+1.4%)
🙋🧑🤝🧑,
It’s a 😀Monday with the markets ⬆️ for the second day in a row. We are definitely in 💃mode. And if you are wondering, why we are speaking 🥰, that’s ‘cos we are still celebrating World Emoji Day. Did you know the first 176 emojis were created in 1999! They have become as much a part of our life as the bulls and bears in the market…
- After a gap-up opening, benchmark indices gained for the second straight day.
- In all, 41 of the Nifty50 stocks closed in the green.
- Meanwhile, the rupee continued to remain weak against the US Dollar. It stood at 80 per dollar.
Among the Nifty sectoral indices, IT (+3.2%) and PSU Bank (+2.7%) saw the most gains. Whereas Pharma (-0.1%) and FMCG (-0.09%) indices were down indicating some booking in the stocks.
| Top gainers | Today's change |
| Hindalco | 367 ▲16 (+4.7%) |
| IndusInd Bank | 850 ▲ 34 (+4.2%) |
| Infosys | 1,490 ▲ 60 (+4.2%) |
| Top losers | Today's change |
| Dr Reddy's | 4,462 ▼ 84 (-1.8%) |
| Britannia | 3,779 ▼ 69 (-1.8%) |
| HDFC Bank | 1,348 ▼ 13 (-1.0%) |
What’s trending
⭐ ICICI Pru posts healthy numbers 👨👩👧👦
ICICIPRULI (NSE) 520 ▲ 3.4 (+0.6%)
Lower claims and lesser provisions as compared to the pandemic period a year ago saw ICICI Prudential Life Insurance report a net profit of ₹156 crore in Q1 of FY23. The insurer had reported a net loss of ₹186 crore in the same period a year ago. The profits were also supported by a 31% year-on-year rise in its value of new business (VNB) to ₹471 crore.
⭐ Profit powers BEL rally ✈️
BEL (NSE): 254 ▲ 9.1 (+3.7%)
Bharat Electronics reported a 15-fold year-on-year rise in the net profit to ₹366 crore.This was mainly on the back of a sharp reduction in cost of goods consumed, and an almost 100% rise year-on-year rise in revenue from operations to ₹3,140 crore. Shares of Bharat Electronics surged 6% intraday.The company has an order book size of ₹55,333 crore, which is nearly 3.5 times its FY22 revenues.
⭐ Prices of edible oil to drop in August? 🍪
AWL (NSE): 623 ▼ 0.4 (-0.07%)
Good news in ‘pakora’ season. Edible oil prices could further reduce. This comes after Indonesia’s move to lift the export ban on palm oil until 31 August. Edible oil makers are expected to pass on the benefits of the softening prices in August. In early June, companies like Adani Wilmar, Mother Dairy and Emami Agrotech had, reportedly, undertaken ₹10-15 price cuts across oil categories.
⭐ Airline stocks take off on ATF price cut ⛽
INDIGO(NSE): 1,795 ▲ 9.2 (+0.5%), SPICEJET(NSE): 39.5 ▲ 1.4 (+3.6%)
Aviation turbine fuel prices reduced 2.2% on the back of easing international crude oil prices. Crude is down nearly 20% from its June 2022 high. Interestingly, in the first half of July, the demand for jet fuel grew by 77% year-on-year due to a pickup in passenger traffic.
⭐ Luggage stocks ‘pack’ a punch 🧳
SAFARI (NSE): 1,091 ▲ 53 (+5.1%) , VIPIND (NSE) 637 ▲ 3.4 (+0.5%)
Luggage stocks rose over 5% intraday on the back of a resurgence in travel demand. Shares of Safari have jumped 23% in the last one month, while VIP Industries has risen 8% in the same period. VIP's management has said that the medium and long-term growth is expected to be robust, on the back of a shift towards branded goods with rising income and rapid urbanisation.
In Focus
AC makers make hay while sun shines
Shares of leading air conditioner (AC) makers such as Voltas (+5.1%), Bluestar (+0.8%), Amber Enterprise (+2.4%) were up on Monday following upbeat domestic sales numbers. Here are the complete details:
As per industry reports, nearly 60 lakh AC units were sold in the first half of 2022. This is way above the of 45 lakh units sold in the pre-pandemic period of H1 2019. The sharp uptick in the sales came after a sweltering summer saw increased demand for cooling products nationwide.
Voltas, the largest AC company by market cap, reported sales of 1.2 million units, a 60% year-on-year growth. Meanwhile, other brands such as LG Electronics, Panasonic India, Haier Appliances reported 35 to 60% growth in units sold.
Interestingly, the sales jumped despite a steep 10-15% rise in AC prices. Manufacturers had announced multiple price hikes to tackle high commodity prices and logistic costs.
The industry players expect demand to stay upbeat, in the upcoming festive season.
Ready-made Option Strategies on Upstox
Options offer traders the potential to make a profit whether the markets are moving up, down or sideways. However, options are complex instruments, and option strategies can be even more complicated. If not used in a disciplined way, they could lead to severe capital losses.
To solve such problems and to make options trading easier, Upstox has introduced Ready-made Option Strategies, which allow traders to:
- Choose from pre-curated option strategies
- Know profit probability, maximum profit & loss, and funds required for each strategy
- Trade with unique one-click entry and exit orders
Click here to know more about Ready-made Option Strategies.
Good to know
What is an options chain?
An options chain provides in-depth information about the available options contracts for a certain underlying stock or index. It mainly shows all the calls and puts available of an underlying for a particular expiry. The list of options are sorted based on the strike price and it displays data on premium, open interest details and implied volatility.
Click here to join us on Telegram for trading and investment-related videos, daily market updates, details on upcoming IPOs and more.
We'd love your thoughts on this market recap.
Haven't tried out Upstox yet? Click here to open your account now!