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Business Standard
a day ago
- Business
- Business Standard
Sensex, Nifty fall on profit booking; defence, capital market stocks shine
Stock markets in India took a volatile turn on Friday, July 4, as investors exhibited cautious move ahead of US President Donald Trump's looming tariff deadline next week. Benchmark equity indices, Sensex and Nifty, witnessed a downward movement after trading in the consolidation zone. At 11:45 am, BSE Sensex was trading at 83,061.50, down by 185 points or 0.22 per cent. Whereas, the 50-scrip index, Nifty, was down by around 66 points or 0.27 per cent, trading at 25,343.40. Broader markets followed suit as consolidated movement kept any prospective momentum in check. The Nifty Midcap 100 was trading at 59,474, up 0.35 per cent. Meanwhile, Nifty Smallcap also experienced a marginal decline of 0.2 per cent, trading at 18,974. From the Sensex Pack, Bajaj twins, Hindustan Unilever. Eternal (Zomato), Infosys and BEL were among the top gainers. Whereas, Trent, Tata Steel, Tech Mahindra, Mahindra and Mahindra, and Maruti Suzuki were among the top laggards. On the sectoral front, Nifty Auto was among the worst-performing indices, trading at 23,874, down by around 0.54 per cent. Nifty metals also fell sharply by 0.87 per cent and were trading at 9,539. Defence and Pharma were among the top-performing sectors. The Nifty Pharma index was trading at 22,339, up by 0.61 per cent. On the global front, Trump's 'Big Beautiful Bill' was passed in the House of Representatives. The bill will make the US president's 2017 tax cuts permanent and slash funding for green projects. Defence, capital market stocks in focus Defence Stock witnessed a sharp surge on Friday, even as the broader market mood remained flat. The Nifty India Defence index saw a rise of 1.4 per cent, trading above 8,980 and just a few inches away from its all-time high level. Hindustan Aeronautics Ltd and Bharat Electronics Ltd were among the lead gainers in the index. Shares of Bharat Dynamics Ltd and shipbuilder, Mazagon Dock, witnessed a surge of 1.26 per cent and 1.75 per cent, respectively. The uptrend in stock price came after the Defence Acquisition Council (DAC) announced the approval of 10 capital acquisition proposals worth ₹1.05 Lakh crore. "Key approvals include Armoured Recovery Vehicles, Electronic Warfare Systems, SAMs, Integrated Inventory Systems, Naval Mines, Mine Counter Measure Vessels, and Submersible Autonomous Vessels. These will enhance mobility, air defence, logistics efficiency, and maritime security," the Ministry of Defence mentioned in a social media post. Meanwhile, capital market stocks, including BSE, Angel One and Motilal Oswal Financial Services witnessed a major drop on D-street after the market watchdog, Securities and Exchange Board of India (Sebi), banned Jane Street Group and its associated entities from Indian markets. All eyes on earnings With markets trading in the consolidation zone, analysts believe that the upcoming earnings season will provide directional cues for the coming weeks. "The cap to the upside of the range is put by the tepid earnings growth and expectations of modest earnings growth in FY26. Investors should watch for possible changes in the earnings growth trajectory, the indications of which will be available in the Q1 results, which will start coming soon," said VK Vijayakumar, chief investment strategist at Geojit Investments.
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Business Standard
30-04-2025
- Business
- Business Standard
How to trade Bajaj Finance, Bajaj Finserv stocks post Q4FY25 results?
Shares of Bajaj Finance and Bajaj Finserv cracked up to 7 per cent and 6 per cent, respectively, in intra-day trades on Wednesday a day after these non-banking financial companies reported the March quarter results. Bajaj Finance, post market hours on Tuesday, reported a 19 per cent year-on-year (YoY) growth in consolidated net profit at ₹ 4,546 crore for the quarter ended March 2025. The firm's net interest income grew by 22 per cent YoY to ₹ 9,807 crore. Bajaj Finance announced a total dividend of ₹ 56 per share, including a special dividend of ₹ 12 per share. The company has announced a record date of May 9 or the special dividend, and May 30 for the final dividend. The company has also announced a liberal 4:1 bonus issue - i.e. 4 free shares for every shareholder holding a share as per the record date; and a stock split in the 1:2 ratio. The company has not announced the record date for bonus, and equity split. Meanwhile, Bajaj Finserv posted a 14 per cent YoY growth in consolidated net profit at ₹ 2,417 crore for Q4FY25; backed by a 11 per cent YoY increase in revenue at ₹ 35,596 crore. Against this background, here's a trading strategy in Bajaj twins post the Q4FY25 results. Bajaj Finance Current Price: ₹ 8,624 Downside Risk: 9% Support: ₹ 8,450; ₹ 8,300; ₹ 8,220; ₹ 8,050 Resistance: ₹ 8,717; ₹ 8,955; ₹ 9,200; ₹ 9,400 At present levels, Bajaj Finance stock is threatening to end its 5-month bullish run. A close below ₹ 8,718 shall confirm the same. Technical chart shows that the stock has soared over 39 per cent from levels of ₹ 6,933 on December 10, 2024 to a high of ₹ 9,660 on April 24, 2025 post the breakout. CLICK HERE FOR THE CHART However, currently the stock has slipped back below its short-term moving averages - i.e. the 20-Daily Moving Average (20-DMA) and the 50-DMA, which stand at ₹ 8,955 and ₹ 8,717, respectively. The daily chart suggests that the stock is likely to witness some downward pressure in the near-term as key momentum oscillators both on the daily and the weekly chart have seen negative crossovers. On the downside, the stock may drift towards its 100-DMA support around 8,050 levels, below which key support for the stock stands at ₹ 7,850. Interim support for the stock can be anticipated around ₹ 8,450, ₹ 8,300 and ₹ 8,220 levels. On the upside, apart from the short-term moving averages the Bajaj Finance stock is expected to face resistance around ₹ 9,200 levels; with upside likely capped around ₹ 9,490. Bajaj Finserv Current Price: ₹ 1,940 Downside Risk: 10.8% Support: ₹ 1,913; ₹ 1,894; ₹ 1,852; ₹ 1,800; ₹ 1,760 Resistance: ₹ 1,988; ₹ 2,020; ₹ 2,080 Bajaj Finserv stock too is seen testing its super trend line support on the daily chart - a key technical indicator the stock broke-out above on January 2. Post the breakout, the stock surged over 25 per cent to a high of ₹ 2,135 on April 24. A close below ₹ 1,938 shall signal the end of this 4-month positive run. CLICK HERE FOR THE CHART At present, the stock has slipped back below its 20-DMA, which stands at ₹ 1,988, and is within striking distance of the 50-DMA at ₹ 1,913. Given the negative crossover on key momentum oscillators, the stock is expected to face downward pressure in the near-term. As such, the stock can slide towards ₹ 1,730 levels, with interim support likely around ₹ 1,894, ₹ 1,852, ₹ 1,800 and ₹ 1,760 levels. On the upside, apart from the 20-DMA, the stock is expected to face resistance around ₹ 2,020 and ₹ 2,080 levels.
