The shares of Bajaj Auto gains over 2% to intra-day high of Rs 9,660 on NSE as the company launches first ever CNG and petrol-supported motorcycle ‘Freedom 125’ starting at Rs 95,000. The shares opened almost 1% higher at Rs 9522 on NSE and extended the gains later to trade at intra-day highs.

Also Read: Bajaj CNG Bike Freedom 125 Launch Live

Commenting on the Rupee Dollar outlook Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas said that Indian Rupee gained by 0.04% today on a weak Dollar. However, weak domestic markets and a rise in crude oil prices capped sharp gains. US Dollar declined extending previous day’s fall on rising expectations of a rate cut by the Fed.

Choudhary also added that we expect Rupee to trade with a slight positive bias on weak tone in the US Dollar and FII inflows. However, a correction in the domestic markets and elevated crude oil prices may cap sharp upside. Traders may remain cautious ahead of US non-farm payrolls report. It is expected to increase at a slower pace. USDINR spot price is expected to trade in a range of Rs 83.20 to Rs 83.80.

Shares of Raymond. soared over 18% to reach a year-high on Friday, July 5, following the announcement of a significant restructuring move. In an exchange filing, the textiles and fabric manufacturer revealed that its board has approved the demerger of its realty business into a separate entity, Raymond Realty Ltd.

Shares of Thermax surged 5% on Friday, July 5, after the company announced securing a ₹513 crore order from Jindal Energy Botswana. Thermax stated that the order must be completed within 23 months.

ONGC, Divis Labs, Cipla, Britannia Industries, and Hindustan Unilever are the top gainers on NSE Nifty 50 index whereas the top laggards include HDFC Bank, Titan Company, Tata Steel, UltraTech Cement, and IndusInd Bank.

Commenting on the gold and silver outlook Renisha Chainani, Head Research – Augmont – Gold For All said that precious metals prices are trading near resistance levels ahead of today’s critical NFP report. Hawkish indications from several key Fed officials, together with the minutes of the June FOMC policy meeting, indicate that policymakers were still unsure about lowering interest rates.

Chainani also added that today’s NFP report is projected to indicate that the US economy gained 190,000 jobs in June, compared to 272,000 the prior month. The critical data will play an important role in shaping market expectations about the Fed’s future policy actions, which will boost USD demand and offer a new directional push to Gold and Silver.

India’s leading shipbuilders, Mazagon Dock Shipbuilders, Cochin Shipyard, and Garden Reach Shipbuilders, have reached unprecedented heights, with their market capitalisation collectively increasing by nearly Rs 1.5 lakh crore in 2024. 

This surge follows as media reports earlier reported, highlighting an initial increase of Rs 90,000 crore. Remarkably, in just 13 trading sessions since that report, these companies have added over Rs 60,000 crore to their market capitalisation.

ONGC, Divis Labs, Cipla, L&T, and Tata Consumer Products are the top gainers on NSE Nifty 5o index whereas the top laggards include HDFC Bank, Titan Company, Mahindra & Mahindra, Tata Steel, and TCS.

Shares of Shilpa Medicare saw a significant boost, climbing as much as 15.5% on Friday to reach a high of ₹669.25. This surge followed the company’s announcement on Thursday regarding a major milestone achieved by one of its Contract Development and Manufacturing Organisation (CDMO) customers, Unicycive Therapeutics.

Jefferies has maintained a “Buy” rating for HDFC Bank with a target price of Rs 1880 per share. In its Q1 pre-quarter update, Jefferies noted that the bank’s deposit mobilization was slightly disappointing.

However, retail and SME rural loans were highlighted as the primary drivers of growth. Key factors to watch in the upcoming results include the overall results, deposit trends, net interest margin (NIM), and operating expenses (Opex). 

Shares of Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, surged 6% in early morning trade to reach Rs 647 apiece following the announcement of two significant real estate deals. In an exchange filing, the company disclosed the closure of deals totaling Rs 2050 crore in gross development value (GDV). These strategic moves include securing a third redevelopment project in Mumbai and acquiring a prime land parcel in Bengaluru, further solidifying the company’s presence in two of India’s most dynamic real estate markets.

Nomura has maintained a neutral call on HDFC Bank with a target price of Rs 1660. In its report, Nomura noted that deposit growth generally tends to be soft in Q1, with loans and deposits showing 1-3% quarter-on-quarter growth over the last three years.

However, the reported numbers this time are slightly lower than usual. The Net Credit Ratio (NCR) also saw a sharp quarter-on-quarter decline, with average deposit growth at 4.6% QoQ. The report suggests some moderation in core Net Interest Margins (NIMs) in Q1FY24.

Commenting on the Technical outlook of Nifty Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities, said On the expiry day, the Nifty index witnessed consolidation at higher levels but managed to trade above the 24200 mark. The higher-end resistance is placed at 24500, where the highest open interest is built up on the call side. A break above this mark will likely see a fresh move on the upside. The lower-end support is at the 24200-24150 zone, and a decisive break below this level could lead to further selling pressure towards the 24000-23800 mark

HDFC Bank’s share price fell over 3% in early trading on Friday after the private lender released its Q1 business update, revealing a sequential decline in both advances and deposits.

Cipla, Divi’s Laboratories, Bajaj Auto, Hindalco, and Wipro were the top gainers in the Nifty 50. While HDFC Bank, Tata Steel, Titan, M&M, and Tata Consultancy Services were the major losers in the Nifty 50 on July 05.

The NSE Nifty 50 opened 0.37% higher at 213.35, while the BSE Sensex opened 0.34% higher at 79,778.98.

“The benchmark Sensex and Nifty indices are expected to be flat to slightly negative on July 05, following GIFT Nifty trends indicating a loss of 20 points for the broader index. Nifty can find support at 24,200 followed by 24,100 and 24,000. On the higher side, 24,400 can be an immediate resistance, followed by 24,450 and 24,500. The charts of Bank Nifty indicate that it may get support at 52,800, followed by 52,700 and 52,500. If the index advances further, 53,200 would be the initial key resistance, followed by 53,350 and 53,500,” said Deven Mehata, Research Analyst at Choice Broking.

Life Insurance Corporation of India on Thursday announced that it has increased its shareholding in IDFC First Bank by 0.2% to 2.68% of the post-issue paid-up capital of the bank. IDFC First Bank has a market capitalisation of Rs 57,058.68 crore.

HDFC Bank on Thursday said its gross advances registered 53% year-on-year growth at Rs 24.87 lakh crore in the first quarter. The same stood at Rs 16.3 lakh crore in the last year quarter. Excluding the impact of the merger of erstwhile HDFC with the bank on July 1, 2023, the bank’s gross advances grew 15% over the same period last year. During the quarter, retail loans grew around Rs 18,600 crore, commercial and rural banking loans grew by around Rs 7,200 crore and corporate and other wholesale loans were lower by Rs 26,600 crore over the preceding March quarter.

“Bank Nifty closed marginally in the green however fell off the intraday highs. The daily and hourly momentum indicators have a negative crossover which is a sell signal. Thus, we expect the Bank Nifty to consolidate in the range of 53400 – 52000 from a short-term perspective,” said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.

“Nifty has been steadily on the rise from 23350 levels making new highs with the undertone maintained very bullish and anticipating for further rise for next targets of 24500 and 24900 levels in the coming days. The psychological near-term support would be at the 24000 zone below which the bias can turn a little bit weak,” said Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher.

Foreign institutional investors (FII) bought shares net worth Rs 2,575.85 crore. However, domestic institutional investors (DII) sold shares net worth Rs 2,375.18 crore on July 04, 2024, according to the provisional data available on the NSE.

Asian markets opened mostly on a higher note on Friday morning. Japan’s Nikkei 225 was trading up 0.03% at 40,902. The Korean index Kospi was up 0.85% at 2,848.85. The Asia Dow was trading 1.56% higher at 3,652.79. Hang Seng was trading flat at 18,028.28. The benchmark Chinese index Shanghai Composite was trading 0.04% lower at 2,956.34.

The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, was trading down 0.08% at 105.07 on Friday morning.

US markets remained closed on July 4 on account of the Independence Day holiday. On Wednesday, Wall Street closed at a record high as data points softening the economy raised hopes that the Fed might cut rates in September. The broader market index, the S&P 500, advanced 0.51% to close at 5,537.02. Similarly, the tech-heavy Nasdaq Composite rose 0.88% to settle at 18,188.30, as largecap technology stocks such as Tesla and Nvidia rallied. Both the indices hit a fresh record high during the session. However, the Dow Jones Industrial Average lost 23.85 points, or 0.06%, to end at 39,308.