Sensex Today | Stock Market Highlights: Nifty closes above 25,000; Pvt banking lead the surge

You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

And on Facebook, LinkedIn, Instagram and TelegramMARKET AT CLOSEMarket Led By Banking Heavyweights, Closes At Day’s HighNifty Reclaims 25,000, Ends The Session Up 0.5%Sensex Rises 443 Points To 82,200 & Nifty 122 Points To 25,091Nifty Bank Gains 670 Points To 56,953 & Midcap Index 364 Points To 59,468HDFC Bank & ICICI Bank See Big Buying After Q1 EarningsEternal Is Top Nifty Gainer, Rises Over 5% On a Healthy Q1Reliance Is Top Nifty Loser, Falls More Than 3% Despite A Steady Q1IndusInd Bank Ends In The Red But Off Lows, Tracking Newsflow On CEOPersistent Systems Is Top Nifty Gainer, Surges 4% Ahead Of Its Quarterly ResultsMetal Names Like Nalco, NMDC Gain On Increased Global PricesL&T Fin Gives Healthy Outlook, Stocks Ends Nearly 4% HigherAU SFB, Bandhan Bank & Union Bank React Negatively To Results, Down 3-5%Tilaknagar Ends In The Green But Off Highs As Andhra Police Name Co In Alleged Liquor ScamDodla Dairy Reports a Mixed Set Of results In Q1, Stock Is Down 8%Ceat Slips Nearly 6% As Nomura Downgrades The Stock After Q1 ResultsMarket Breadth Is Neutral, Advance-Decline Ratio At 1:1

Market Watch: Anand Tandon, Market Expert

Eternal

The numbers for Blinkit what you are looking for is simply the topline growth, and the fact that they have managed to reduce their losses over the last quarter is a positive, which means that at least the unit level profitability exists. So as you continue to grow, hopefully there will come a time when you will start to make money. Overall, the level of intensity of the fight in that sector has increased because the other players are also putting in their best. It will take a little while before you would expect to see stable numbers. But overall, I would not be too worried about what these numbers are. In fact, they are, I would imagine, relatively positive

Banks and financials

Larger banks are doing kind of okay. Clearly, we are still in a stage where credit growth is nothing great. And more importantly, people are not recognising the fact that the Indian consumer today is a heavily leveraged consumer. If you just even take out the housing loans, the rest of the unsecured credit to Indian households is probably the highest it has ever been, and on a relative basis, is as much as many of the developed markets are. So there is not that much place to go, which is why I had mentioned, even in the last conversation we had, that you will see a lot of growth in the ninja loans, but you will also see NPAs coming through, and that is what you are going to see now in the in the smaller banks, some of that is already happened. I think it can only deteriorate from here. If you are looking at financials, clearly the most conservative ones are the ones that one should be looking. For already the growth has to be factored down. That said, the profitability will still remain quite good for some of these banks, especially the bigger, larger ones, which are able to get have a deep deposit franchise. And there is no particular reason to migrate to the others. If you are looking for gold, look for NBFCs remember, they are lending to ninjas.

Sudip Bandopadhyay, Group Chairman, Inditrade

Financials

Shares of Eternal Ltd., parent company of food delivery aggregator Zomato Ltd. and quick commerce operator Blinkit Ltd. reported its June quarter results just before the close of trade on Monday, July 21.

Eternal Q1 Results

The shares of Eternal surged by over 7% after the company announced its Q1 results.

Eternal Q1

Latent View Q1

Ashish Kyal, Waves Strategy Advisors

On BSE: My suggestion would be to continue to hold. There is no time to worry here, and we can expect the stock to reach the level of ₹3,200 again, on the upside. On the downside, one can maintain a stop loss, which is going to be around ₹2,200 levels. So the undertone is still buy on dips for the stock.

On Dreamfolks: The stock started correcting from the ₹300 levels in May. It’s already 150 to 50% cut in just two or less than three months. It’s not a very, very good sign. It is best to be out of here. It is already breaking the prior day and prior week’s low, also in today’s session. So best to be out of here and look out for alternatives, possibly in the space of maybe something in an automobile or a banking space, something like an ICICI Bank, and from automobile sector, maybe Mahindra & Mahindra, it is better to be diversifying into that space.

Shahina Mukadam, Independent Market Expert

On BSE: I have also been holding it for a very long time, and while I have booked part profits, I would continue holding a lot of the portion for the longer term. I would say, one should continue to hold. If you need some money or if you want to book some short-term profits, you can, but otherwise you can hold for the longer term.

On Bajaj Housing Finance and Trent: Both these stocks are good quality stocks, but the valuations are very high. I would say that it’s better to switch, there are cheaper stocks available in the housing finance of equally good quality.

Trent also similar story. Zudio is impacting the margins. Valuations are bit high. If you want to add or average, better to average it at least 10% lower than current levels. If you are holding to the long term, then these two stocks, you can continue to hold. But I would suggest a switch from both if you’re looking at shorter to medium term.

Some health insurance policyholders are paying nothing when renewing their plans, thanks to wellness-linked discounts offered by insurers, according to Policybazaar.

IDBI Bank Ltd. reported results for the June quarter on Monday, July 21, where its core income was under pressure, while a jump in other income boosted the lender’s bottomline.

Bharti Airtel has overtaken Tata Consultancy Services (TCS) to become India’s third-largest company by market capitalisation. The telecom giant’s shares rose by another 1% in Monday’s (21 July) trading, lifting its market value to ₹11.45 lakh crore — ₹2,220 crore more than TCS.

IDBI Bank Q1 Results

Net Profit (GU)16.8% At ₹2,007.4 Cr Vs ₹1,719.3 Cr (YoY)

NII (RD)2% At ₹3,165.8 Cr Vs ₹3,232.8 Cr (YoY)

Gross NPA At 2.93% Vs 2.98% (QoQ)

Net NPA At 0.21% Vs 0.15% (QoQ)

China’s Ministry of Finance and State Taxation Administration has issued a notice announcing changes to taxation on ultra-luxury vehicles.

This could affect Tata Motors, as Tata Motors will face higher retail price of over 10% on it JLR cars.

Higher tariffs are likely to become a permanent feature of US trade policy, but fears of a sharp rise in inflation as a result may be exaggerated, says William Lee, Chief Economist at the Milken Institute.

IndusInd Bank To CNBC-TV18

Firmly Deny Reports Of RBI Asking To Expand CEO Search

Appointment Of New MD & CEO (Including Seeking Relevant Approvals), Is In Process

Noida-based B2B online marketplace IndiaMART InterMESH is aiming for double-digit growth in collections as it continues to refine its business strategies.

Sudeep Shah, Head-Technical & Derivatives Research, SBI Securities

Buy Cholamandalam Finance for a target price of ₹1,650-1,700 with a stop loss of ₹1,520

Buy Dalmia Bharat for a target price of ₹2,400-2,450 with a stop loss of ₹2,230

Steel demand in India continues to hold strong, according to Jayant Acharya, Joint MD & CEO of JSW Steel. Consumption grew by 7.9% in the last quarter despite coming off a high base. Acharya linked this strength to stable economic growth and continued government capital expenditure, saying, “We see good steel demand in India.”

Ultratech Q1 Results

Market Watch: Ruchit Jain, Motilal Oswal Fin Svcs

State-owned heavy equipment manufacturer, BEML Ltd., informed the exchanges on Monday, July 21, that its board has approved the sub-division of its equity shares, subject to shareholder approval.