Benchmark equity indices settled at fresh closing highs on Wednesday following heavy buying in banking and FMCG shares amid firm global market trends. The BSE Sensex touched the historic 80,000 mark for the first time earlier in the day, it ended near the 80,000 level at 79,986.80, up by 545.35 points or 0.69 per cent over the last close.
The NSE Nifty50 gained 162.65 points or 0.67 per cent to end at an all-time high of 24,286.50.
All sectors ended in green including broader space. Private Banks saw healthy buying of 2 per cent after HDFC Bank released its Q1FY25 shareholding data, wherein the FII ownership has declined to 54.8 per cent, below the 55 per cent mark, indicating greater MSCI inflows.
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“Markets cheered the dovish commentary from US Fed Chair Powell. This along with healthy domestic macros and hope of a growth-focused budget led to a positive up-move in the market. We expect this ongoing momentum to continue in the near term. Indian Equities tomorrow would react to the release of US Fed meeting minutes and US, Europe, and Asia -Service and Composite PMI data today,” said Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services Ltd.
Here are the key stocks to watch on July 4:
Bajaj Finance: The company reported 10 per cent year-on-year growth in new loans booked in the quarter ended June 30, 2024, at 10.97 million compared to 9.94 million it booked in the corresponding period of the previous financial year. The company’s deposits book stood at around Rs Rs 62,750 crore as of June 30, 2024, compared to Rs 49,944 crore as of June 30, 2023, registering 26 per cent YoY growth.
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Bandhan Bank: The private sector lender’s total deposits grew 22.8 per cent YoY to Rs 1.33 lakh crore in the April-June quarter, according to provisional figures released by the bank. The bank posted a 21.8 per cent growth in loans and advances to Rs 1,25 lakh crore in the first quarter, as compared to Rs 1.03 lakh crore in the year-ago period, according to an exchange filing.
Vedanta: The cast metal aluminium production at the company’s smelters stood at 5.96 lakh tonnes, up 3 per cent YoY due to better operational performance, while the alumina production at Lanjigarh refinery was at 5.39 lakh tonnes, growing 36 per cent YoY driven by new capacity. Oil and gas production for the quarter was down 17 per cent YoY.
L&T Finance: The company’s retail loan book rose 31 per cent YoY to Rs 84,440 crore in the April-June quarter of FY25, according to the provisional quarterly business update. The non-banking finance company (NBFC) reported an advance of 33 per cent in retail disbursements at Rs 14,830 crore in the April-June quarter, compared to Rs 11,192 crore in the year-ago period. The realisation portfolio is estimated at 95 per cent.
Marico: The FMCG company announced a collaboration with Kaya to scale up its play in advanced science-backed personal care, aiming to build an omni-channel presence of Kaya’s product range by leveraging Marico’s sales and marketing capabilities.
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