The MACD showed bearish signs on the counters of SAIL, Indiabulls Real Estate, Coffee Day, Hindustan Copper and HDFC Life Insurance, among others

Market participants believe that there is more upside left in the Indian markets. In its latest report, Morgan Stanley's India equity strategist Ridham Desai said the index would hit 68,500 by December 203 in the base case scenario.

Global brokerage firm Morgan Stanley has maintained its overweight rating on HAL with a target price of Rs 3,216 on the stock as the management has manufacturing order visibility of Rs 1.2 lakh crore over next 3-5 years and valuations are compelling.

Benchmark indices BSE Sensex and Nifty50 index settled marginally lower for the week, whereas midcap and smallcap indices dropped up to 2 per cent for the week, whereas India VIX dropped on a weekly basis.

Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said, “Zooming into the 15-minute chart, we see that the Nifty opened with a down gap, but buying soon emerged from the lows and pushed the index higher. The Nifty thus remains in a short-term uptrend as it has moved above the previous swing highs of 17,429 and made higher bottoms over the last few weeks.”

According to the data from Ace Equity, as many as three dozen stocks need to post over 100% returns from their current levels. These 36 stocks need to rally 100-426% to regain their 52-week highs from the last close. The list of beleaguered counters include players from various sectors including new-age internet companies, NBFCs, IT, healthcare, petrochem, energy, auto and auto ancillaries, media, consumer durables, telecom and others.

The purchase comprises four floors of a property in the posh South Delhi locality, and was made from Sheela Gehlot, wife of Ambience Group’s Promoter Raj Singh Gehlot

The portfolio rejig comes ahead of the September quarter earnings season in which oil and gas and metal companies are expected to drag. “Sectors focused on domestic consumption, investments are likely to outperform the sectors dependent on global demand, cyclicals and commodities,” Motilal Oswal Financial Services said in a report.

The portfolio rejig comes ahead of the September quarter earnings season in which oil and gas and metal companies are expected to drag. “Sectors focused on domestic consumption, investments are likely to outperform the sectors dependent on global demand, cyclicals and commodities,” Motilal Oswal Financial Services said in a report.

According to the data from Ace Equity, as many as 240 stocks or 48 per cent shares of the index are down more than 20 per cent from the 52-week highs. BSE500 index constitutes about 95 per cent market cap of all BSE-listed companies.

Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One, believes that though the key indices are lacking a bit of momentum, the undertone seems strongly bullish, and as a result, the Nifty is now within a touching distance of the psychological mark of 18,000.

Elan Group, promoted by director Akash Kapoor, chairman Rakesh Kapoor and managing director Ravish Kapoor, has 12 projects in prime locations of Gurgaon and Delhi, with a total saleable area of about 15 million sq ft.

“The traction in the credit space in NCR market reflects our continued belief in the regions real estate growth story with Dwarka Expressway fast emerging as NCRs most sought-after micro market”, said Saurabh Shatdal, Managing Director, Land & Capital Markets, Cushman & Wakefield

The group said that of the 40 acres, 30 acres are meant for residential development and 10 acres for commercial spaces.

According to the regulatory filing by Indiabulls, in January this year, the company had divested 100% stake in its subsidiaries - Airmid Developers Limited, Mariana Developers Limited, Albina Properties Limited & Flora Land Development Limited. These units together owned the land parcel.

"I think our view is, we have been saying for a while, all the leading developers will end up being national developers. So I think these top four five developers will be competing with each other across the country," Pirojsha Godrej said in an interview to PTI.

“Stocks like Siemens, Honeywell Automation, ABB, Hitachi have been on our buying radar since January. We are looking for good returns. In the last four-five years they have not given returns and there will be a lot of capex on the upgradation of machinery. Many of these companies have adopted automation and digitisation. One stock to play auto ancillary plus digitisation is Bosch.”

Three stocks Brightcom Group, Tata Teleservices (Maharashtra) and Zomato require a 175-176 per cent rally to revisit their 52-week highs. While not many brokerages track the first two stocks, a host of brokerages have turned positive on Zomato. The stock has also been in a recovery mode, having risen some 15 per cent in the last one month.

Indiabulls Real Estate has cut its net debt by 54% to Rs 464 crore during the three months ended June, compared to the March quarter. Besides, the merger with the Embassy Group is in the final stage of the National Company Law Tribunal (NCLT) review, the company said in its investor presentation.

Located at Sector 106, Dwarka Expressway, Gurugram, the 40-acre land parcel is fully licensed for the development of housing and commercial projects. About 30 acres of land is meant for residential development and the rest 10 acres for commercial development.

There is an under-construction residential tower on the property, developed by IREO Projects, with some sold units. Several homebuyers had approached the developer to help revive the project.

Bank stocks have already been rallying for a couple of months thanks to improved financial performance and recovery in economic activities.

The company is expected to construct an office tower on the acquired land, the people cited earlier said, adding that CBRE India has facilitated the deal.

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said a sharp cool-off in oil prices has improved sentiments for oil-sensitive sectors like FMCG, cement, paint and auto. “Nifty now needs to sustain above 16,000 mark to keep the positive momentum going ahead.

According to the data from AceEquity, 392 stocks out of the BSE 500 index have delivered negative returns between January to June 2022. It means that four out of every five stocks are down on a year-to-date (YTD) basis as of June 29.About 210 stocks have dropped more than 20 per cent in the first half of 2022, while 40 stocks have tanked between 40-72 per cent, highlighting painful six months for investors.

Based on a case filed by a homebuyer that Indiabulls Real Estate has not passed on ITC benefits in project Sierra-Vizag, situated in Visakhapatnam, the Directorate General of Anti Profiteering (DGAP) investigated the case and found the builder guilty of profiteering.

Out of the BSE-500 index, Solara Active, Dilip Buildcon, Indiabulls Real, Hikal, Indiabulls Housing, Brightcom Group, Metropolis Healthcare, Jindal Stainless, RBL Bank, and Dishman Carbogen are 48-68% away from their 200-DMAs. This means pessimism in these stocks is high. Stocks in the financial sector are furthest away from their 200-DMAs.

The Nifty Realty index closed 1.66 per cent up at 382.15.

The Nifty Realty index was trading 1.61 per cent up at 381.95.

The Nifty Realty index closed 0.61 per cent down at 388.6.

The Nifty Pharma index closed 0.35 per cent up at 12261.35.

KPI Global Infra, Priti International, Mirza Intnl, Standard Ind and Globe Intl. Carriers, hit their fresh 52-week highs during the day.

The Nifty Auto index closed 0.92 per cent up at 11206.75.

The Nifty IT index closed 0.5 per cent down at 27812.45.

Tata Steel, ONGC, NTPC, Wipro and Infosys were among the top losers on NSE in today's trade.

The Nifty Bank index closed 0.08 per cent up at 33339.0.

MFs held 1 lakh Maharashtra Scooters shares worth Rs 48 crore at the end of April. They held Rs 62 crore worth 2 lakh shares in the company at the end of May.In PCBL, MF increased holding to 1.03 crore shares from 81 lakh shares. They owned PCBL shares worth Rs 109 crore at May-end against Rs 90 crore a month ago.

The AA has also held that the alleged beneficial owner, Pune-based builder Avinash Bhosale, the promoter of ABIL group, “...has not provided any consideration to the company from whom Mehta purchased the flat and nor has he derived any benefit out of the said transaction”, a source familiar with the AAs order said.

The income tax department is also searching premises of Indiabulls Real Estate in Mumbai's Bandra-Kurla Complex (BKC) and Gurgaon area in the backdrop of its impending merger with the company.

The Nifty Realty index was trading 3.24 per cent up at 400.4.