Benchmark equity indices settled on a flat note on Monday amid lacklustre trading activity as investors preferred to stay on the sidelines in the absence of any fresh trigger. Weak cues from Asian markets also contributed to the muted trend in the domestic market.
The BSE Sensex fell 36.22 points or 0.05 per cent to settle at 79,960.38. The NSE Nifty dipped 3.30 points or 0.01 per cent to close at 24,320.55.
"The Nifty remained range-bound during the day, as market participants appeared to be in no hurry to decide the market's direction. Support remains at 24,240, and a fall below this level might weaken the strength of the bulls. Until then, dips might be bought into. On the higher end, resistance is seen at 24,375-24,400. Above 24,400, the index might move towards 24,600," said Rupak De, Senior Technical Analyst at LKP Securities.
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Here are the key stocks to watch on July 9:
Container Corporation of India (CONCOR): The state-owned company has reported a 6 per cent year-on-year (YoY) increase in total volumes for the first quarter of FY25. The company handled 11.59 lakh twenty-foot equivalent units (TEUs) compared to 10.93 lakhs units during the year-ago period.
Godrej Consumer Products: The FMCG major reported a mixed performance across its global operations. Despite challenging operating conditions in India, the company’s domestic business showed resilience, achieving high-single-digit organic volume growth and mid-single-digit value growth.
Nestle India: The shareholder of FMCG major have approved the continuation of the current rate of 4.5 per cent as royalty payment to its Swiss parent in the company’s annual general meeting held on Monday.
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Senco Gold: The jewellery company reported retail sales growth of 11 per cent and same-store sales growth of 4 per cent in the first quarter of fiscal 2025, according to its business update issued on Monday. The average transaction value and average selling price were reported to have increased by 12 per cent. The total sales growth stood at 9 per cent YoY in the first quarter of FY25.
Utkarsh Small Finance Bank: The microfinance lender said it has received approval from the Reserve Bank of India (RBI) for the reappointment of Govind Singh as Managing Director and Chief Executive Officer. The approval extends Singh’s tenure for three years starting from September 21, 2024.
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