&w=3840&q=100)
Axis Bank cracks below 200-DMA post Q1 results; all eyes on this support
Rex Cano Mumbai
Listen to This Article
Shares of Axis Bank cracked over 6 per cent to an intra-day low of ₹1,086 on the NSE in Friday's trade after the bank's Q1 earnings disappointed the Street. In the process, the stock also plunged below its long-term 200-Day Moving Average (200-DMA) for the first time since April 16, 2025. Axis Bank reported a 4 per cent year-on-year (YoY) decline in net profit at ₹5,806 crore for the first-quarter ended June 2025 for the financial year 2025-26. The bank attributed the drop in profit to "technical" slippages and one-time bump in provisions. The bank's total
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
44 minutes ago
- Mint
Stocks to buy under ₹100: Experts recommend six shares to buy today — 21 July 2025
Stocks to buy under ₹ 100: In the last session of the previous week, the Indian stock market witnessed sharp selling. Among the key benchmark indices, Nifty 50 and BSE Sensex lost over half a per cent, while the Bank Nifty index lost close to one per cent. Wipro, Bajaj Finance, and Tata Steel showcased strength, emerging as the top performers on the Nifty. Conversely, Axis Bank, Shriram Finance and BEL concluded the session as major losers. Trading volumes on the NSE cash market were slightly lower by 2% compared to yesterday. The broader market also experienced profit booking, mirroring the benchmark indices. The Nifty Midcap 100 fell by 0.70%, while the Nifty Smallcap 100 declined by 0.82%. Market breadth remained negative, with declining stocks outnumbering advancing ones on the BSE, as indicated by an advance-decline ratio of 0.70. Amongst the sectoral indices, Media, Metal, and IT managed to end up as major gainers, showcasing some resilience. However, Nifty Private banks, Consumer durables, and Financial services faced the steepest declines, contributing significantly to the overall market fall. On the Indian stock market's outlook today, Siddhartha Khemka, Head of Research — Wealth Management at Motilal Oswal, said, "Overall, we expect the market to remain in consolidation mode amid continued global trade uncertainty and a subdued start to the Q1FY26 earnings season. Key results on Monday include Ultratech Cement, Eternal, IDBI Bank, Havells, and Oberoi Realty, among others." Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index once again lost control and indicating a lower top formation on the daily chart slipped below the important 25,000 zone to slightly weaken the bias and has arrived near the crucial support zone area of the 50EMA level at 24,900 which needs to be sustained to maintain the overall trend intact. Also, the base of the ascending channel pattern on the daily chart lies near the 24,900 zone, which is at stake, and the much-awaited results of the heavyweight giants – HDFC Bank and ICICI Bank would be released, which would decide the next course of the market. For the bias to improve, the index must decisively move past the 25,250 zone." Asked about the outlook of the Bank Nifty index, Shiju Kuthupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher, said, 'The Bank Nifty index succumbed to heavy profit booking post the weak result outcome of Axis Bank, which dragged the index to breach below the near-term support of the 56,600 zone and has slightly weakened the bias with the next major and crucial support positioned near the 50EMA zone at the 55,900 level, which needs to be sustained. On the upside, as mentioned earlier, it would need to breach above the resistance zone of 57,600 level and expect fresh higher targets of 58,500 and 60,000 levels in the coming days.' Regarding stocks to buy today, Sumeet Bagadia, Executive Director at Choice Broking; Mehul Kothari, Deputy Vice President of technical Research at Anand Rathi; Sugandha Sachdeva, Founder of SS WealthStreet; and Anshul Jain, Head of Research at Lakshmishree Investment, recommended these six intraday stocks for today under ₹ 100: Nova Agritech, Manali Petrochemicals, Yes Bank, UCO Bank, Shriram Properties, and Jagran Prakashan. 1] Nova Agritech: Buy at ₹ 58.97, Target ₹ 64, Stop Loss ₹ 57; and 2] Manali Petrochemicals: Buy at ₹ 79.25, Target ₹ 85, Stop Loss ₹ 76. 3] Yes Bank: Buy at ₹ 20.17, Target ₹ 23, Stop Loss ₹ 19; and 4] UCO Bank: Buy at ₹ 32.13, Target ₹ 36, Stop Loss ₹ 30. 5] Jagran Prakashan: Buy at ₹ 74.20, Targets ₹ 77.60, ₹ 78.30, Stop Loss ₹ 72.50. 6] Shriram Properties: Buy at ₹ 96.40, Target ₹ 102, Stop Loss ₹ 92. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
an hour ago
- Mint
Buy or sell: Vaishali Parekh recommends three stocks to buy today — 21 July
Buy or sell stocks: In the last session of the previous week, the Indian stock market witnessed sharp selling. Among the key benchmark indices, Nifty 50 and BSE Sensex lost over half a per cent, while the Bank Nifty index lost close to one per cent. Wipro, Bajaj Finance, and Tata Steel showcased strength, emerging as the top performers on the Nifty. Conversely, Axis Bank, Shriram Finance and BEL concluded the session as major losers. Trading volumes on the NSE cash market were slightly lower by 2% compared to yesterday. The broader market also experienced profit booking, mirroring the benchmark indices. The Nifty Midcap 100 fell by 0.70%, while the Nifty Smallcap 100 declined by 0.82%. Market breadth remained negative, with declining stocks outnumbering advancing ones on the BSE, as indicated by an advance-decline ratio of 0.70. Amongst the sectoral indices, Media, Metal, and IT managed to end up as major gainers, showcasing some resilience. However, Nifty Private banks, Consumer durables, and Financial services faced the steepest declines, contributing significantly to the overall market fall. Stock market today Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, believes the Indian stock market sentiment has weakened as the Nifty 50 index slipped below 25,000 and finished close to its 50-DEMA support of 24,900. The Prabhudas Lilladher expert said the key benchmark index may try to test 24,650 levels if the 50-stock index breaches below 24,900 on a closing basis. Speaking on the outlook of the Nifty 50 today, Vaishali Parekh said, "The Nifty 50 index once again lost control and indicating a lower top formation on the daily chart slipped below the important 25000 zone to slightly weaken the bias and has arrived near the crucial support zone area of the 50EMA level at 24900 which needs to be sustained to maintain the overall trend intact. Also, the base of the ascending channel pattern on the daily chart lies near the 24900 zone, which is at stake, and the much-awaited results of the heavyweight giants – HDFC Bank and ICICI Bank would be released, which would decide the next course of the market. For the bias to improve, the index must decisively move past the 25250 zone." "The Bank Nifty index succumbed to heavy profit booking post the weak result outcome of Axis Bank, which dragged the index to breach below the near-term support of the 56600 zone and has slightly weakened the bias with the next major and crucial support positioned near the 50EMA zone at the 55900 level, which needs to be sustained. On the upside, as mentioned earlier, it would need to breach above the resistance zone of 57600 level and expect fresh higher targets of 58500 and 60000 levels in the coming days," said Parekh. Parekh said that the immediate support for the Nifty 50 index is at 24,800, while the resistance is at 25,200. The Bank Nifty would have a daily range of 55,500 to 57,000. Vaishali Parekh's stock recommendations today Regarding stocks to buy today, Vaishali Parekh recommended these three buy-or-sell stocks: SAIL, Archean Chemical Industries, and Himatsingka Seide. 1] Himatsingka Seide: Buy at ₹154.80, Target ₹166, Stop Loss ₹151; 2] SAIL: Buy at ₹136, Target ₹142, Stop Loss ₹133; and 3] Archean Chemical Industries: Buy at ₹698, Target ₹730, Stop Loss ₹683. Disclaimer: The views and recommendations made above are those of individual analysts or brokerage companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
an hour ago
- Time of India
Spunweb Nonwoven set to debut on NSE SME. GMP hints at healthy listing
Spunweb Nonwoven is set to debut on the NSE SME platform on Monday after closing its Rs 60.98 crore IPO with massive investor interest. The company, which manufactures spunbond nonwoven fabrics used across hygiene, medical, agriculture, and packaging sectors, saw its issue subscribed an extraordinary 251.32 times overall, with retail investors bidding 251.84 times, non-institutional investors 364.58 times, and QIBs 165.43 times. Priced at Rs 96 per share, the IPO was a fresh issue of 63.52 lakh shares. The strong demand from investors has propelled the stock's grey market premium to around 45% ahead of listing, hinting at a robust debut despite broader market volatility. Explore courses from Top Institutes in Select a Course Category healthcare Operations Management Data Science Design Thinking Degree others Cybersecurity MCA Artificial Intelligence Leadership Data Analytics Finance MBA CXO Product Management Technology PGDM Healthcare Others Data Science Digital Marketing Project Management Management Public Policy Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details Anchor investors had already backed the offer with a Rs 17.31 crore commitment prior to the opening. In terms of financials, the Rajkot-based company posted a 47% jump in revenue and nearly doubled its profit in FY25. It serves clients across sectors including hygiene, healthcare, and industrial applications, and exports to more than 10 countries. With a scalable business model, strategic global ties, and a focus on value-added fabric solutions, Spunweb Nonwoven is now positioning itself for expansion. Live Events While valuations appear stretched post-listing, the first-mover advantage in a niche market, high capacity utilization, and global customer base may offer long-term tailwinds for the company. All eyes will now be on its market debut and how it sustains investor expectations beyond the initial pop. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
