Market HIGHLIGHTS: Sensex ends flats, Nifty below 14,700 in seesaw trade; Asian Paints up 8%, RIL gains

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Updated: May 14, 2021 4:27:45 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 ended flat after moving between gains and losses in Friday's trade. India VIX up 1%

Share Market Today, Share Market HIGHLIGHTSBarring Nifty FMCG index, all the sectoral indices ended in the red. Image: Reuters

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 opened lower and remained in a falling trajectory for the most part of the session on Friday. BSE Sensex ended at 48,732.5, up 42 points or 0.09 per cent, while the broader Nifty 50 index settled at 14,678, down 19 points or 0.13 per cent. Asian Paints was the best performing stock, rising up to 11 per cent intraday. It was the top Sensex gainer, followed by gains in ITC, Nestle India, L&T, Hindustan Unilever Ltd, Reliance Industries Ltd (RIL), Power Grid Corporation of India, among others. On the flip side, IndusInd Bank, Mahindra & Mahindra, Dr Reddy’s Laboratories, State Bank of India (SBI), NTPC, ONGC, Sun Pharma and Maruti Suzuki were among the top index laggards. Barring Nifty FMCG index, all the sectoral indices ended in the red. Nifty Metal declined 3.76 per cent, Nifty Auto and Nifty PSU Bank indices fell 2.03 per cent, each. While Nifty FMCG index gained 2.13 per cent

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    15:39 (IST)14 May 2021
    Sensex ends flat, Nifty below 14,700

    BSE Sensex ended at 48,732.5, up 42 points or 0.09 per cent, while the broader Nifty 50 index settled at 14,678, down 19 points or 0.13 per cent.

    15:06 (IST)14 May 2021
    Stock market will likely track vaccination pace, trajectory of active cases curve

    Indian equity markets remained largely range bound over the last week. The Covid situation in India is no doubt grim and hence the health issue is something that could keep markets volatile in the near term. Corporate earnings season for Q4FY21 is underway. So far the earnings reported have been largely in line with consensus expectation. Earnings have been led by strong performance in the banking and commodities sector. Going forward, market will likely track the pace of vaccinations, trajectory of active cases curve and management commentary of companies. Roll-back of localised lockdown and trend of inflation in many global commodities like crude oil and steel will be other key factors to watch-out by investors. Shibani Kurian, Senior EVP & Head- Equity Research, Kotak Mahindra Asset Management Company

    14:25 (IST)14 May 2021
    Cyril Amarchand Mangaldas advises Zydus Cadila on sale of its India-focused animal healthcare biz

    Cyril Amarchand Mangaldas advised Zydus Cadila on sale of its India-focussed animal healthcare business to Zenex Animal Health India Private Limited (Zenex), which is a special purpose vehicle set up by Multiples led consortium of investors, for INR 2921 crores (~US$ 398 million) on a cash-free debt-free basis. As part of the Transaction, Cadila Healthcare Limited's animal healthcare business subsidiary Zydus Animal Health and Investments Limited has entered into a Business Transfer Agreement, dated May 12, 2021, with Zenex for sale of its Animal Healthcare Established Markets Undertaking to Zenex, as a going concern, on slum sale basis.

    13:38 (IST)14 May 2021
    PM Modi’s Akshaya Tritya bonanza for farmers, Rs 20,000 cr under PM-KISAN

    Prime Minister Narendra Modi on Friday released the eighth installment of over Rs 20,000 crore to more than 9.5 crore farmer beneficiaries under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme on Friday via video-conferencing. Agriculture Minister Narendra Singh Tomar, who was present on the occasion, said West bengal has joined the scheme with more than 7 lakh farmers of the state getting the benefit today.

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    12:56 (IST)14 May 2021
    Gold price today, 14 May, 2021: Gains 2% from Akshaya Tritiya 2020 to this year; why you should buy

    Gold Price Today, Outlook, Forecast: Gold prices fell in India on Akshaya Tritiya as in international markets yellow metal declined on a firmer dollar which made bullion more expensive for other currency holders. On MCX, gold June futures fell Rs 70 to Rs 47,337 per 10 gram, as against the previous close of Rs 47,438. Silver July futures, on the other hand, edged up Rs 97 or 0.14 per cent to Rs 70,570 per kg, as compared to the previous day close of Rs 70,473 per kg.

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    11:40 (IST)14 May 2021
    If Nifty falls below 14,700, it may touch 14,400

    The markets have been range-bound between 14400 and 15000. In the short term, 14700 is good support for the index and we are hovering around that level. If we close below this level today, it might prove to be a bearish signal and we will have to review the charts on Monday when the new trading week commences. The Nifty will lose its upside edge if we break 14700 on a closing basis as that might take the index down to 14400. Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

    11:27 (IST)14 May 2021
    Akshaya Tritiya: Good time to buy gold on recent fall in prices; strong support at Rs 45,500 per 10 gm

    Gold on the MCX for June contract has been falling continuously for four sessions. This is a good opportunity to buy gold as the long term fundamental story is well intact. In the short term gold may dip due to rebound in the US dollar, but mid-term and long terms outlook is still bullish. Hence it is the best time to keep accumulating gold on every dip.

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    11:08 (IST)14 May 2021
    Go Air files IPO papers with SEBI for Rs 3,600-cr issue; firm rebrands as Go First ahead of IPO

    Go Airlines has filed a Draft Red herring Prospectus with capital markets regulator SEBI to launch an IPO (initial public offering) worth Rs 3,600 crore. The Wadia group-owned airline company in consultation with its lead managers will issue shares through a preferential issue or any other method to raise up to Rs 1,500 crore. Ahead of Go Airlines IPO, India’s ultra-low-cost airline has rebranded itself as ‘Go First’.

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    10:09 (IST)14 May 2021
    PowerGrid InvIT shares list at 4% premium to IPO price; 3rd listed InvIT after IndiaGrid Trust, IRB InvIT

    PowerGrid Infrastructure Investment Trust (InvIT) shares made a debut at Rs 104 per share, up 4 per cent from the issue price of Rs 100 per unit. PowerGrid InvIT had a market capitalization of Rs 9,463.99 crore on the listing. This is the first Infrastructure Investment Trust (InvIT) in the country to be floated by a public sector company. PowerGrid InvIT issue was subscribed 4.83 times on the last day of the subscription. 

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    09:36 (IST)14 May 2021
    COMEX gold trades little changed near $1820/oz

    COMEX gold trades little changed near $1820/oz after a 0.1% gain yesterday. Gold stabilized as US bond yields eased back after testing the highest level in more than a month. Also supporting price is increased tensions between Israel and Gaza. However, weighing on price is ETF outflows, concerns about consumer demand in India and increasing debate that inflation pressure may cause monetary tightening. Gold may remain choppy reflecting volatility in the US dollar however we expect buying interest to emerge at lower levels as Fed is likely to maintain a dovish stance. Ravindra Rao,CMT, EPAT, VP- Head Commodity Research at Kotak Securities

    09:36 (IST)14 May 2021
    Rupee may trade in a range of 73.20-74.50

    Today, the Indian rupee is likely to open on a flat note with an expected range of 73.35-73.60. It was seen trading sharply lower upto 73.65 in NDF market on the release of US inflation on Wednesday, but it recovered yesterday on a rebound in the US and Asian markets. The weak domestic fundamentals are suggesting that the Rupee should ideally depreciate upto 74-74.50 levels. But strong IPO & QIP along with MSCI rebalancing flow are expected to attract dollar flood into India. This is continuously capping Rupee’s losses; especially in a pessimistic local sentiment. Thus, Rupee could feel like a sandwich from mixed cues. Overall, the short-term momentum in Rupee is likely to squeeze down further with a range of 73.20-74.50. After Inflation data, the focus shifts to today’s US retail sales figure. Amit Pabari, managing director, CR Forex Advisors

    09:31 (IST)14 May 2021
    Buying gold on Akshaya Tritiya; charts suggest gold prices may hit Rs 63,600 by yr-end: Rajesh Palviya

    Gold has historically performed well amid high inflation. In years when inflation was higher than 3%, gold’s price increased 15% on average. Notably too, gold does well in periods of deflation. Such periods are typically characterized by low-interest rates and high financial stress, all of which tend to boost demand for gold.

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    09:25 (IST)14 May 2021
    Nifty Metal index falls 2%

    Trend among Nifty sectoral indices was largely negative. Nifty FMCG, Nifty Pharma and Nifty PSU Bank indices were trading in the positive territory. While Nifty Metal index fell over 2 per cent.

    09:23 (IST)14 May 2021
    M&M, TCS, ONGC top Sensex losers

    Mahindra & Mahindra (M&M), ONGC, NTPC, Tata Consultancy Services (TCS), Tech Mahindra, Power Grid Corporation of India were top index laggards.

    09:22 (IST)14 May 2021
    Asian Paints, SBI, ITC top Sensex gainers

    Asian Paints, Titan Company, State Bank of India (SBI), ITC, Bharti Airtel, ICICI Bank, Nestle India, Dr Reddy's Laboratories, were among top BSE Sensex gainers

    09:19 (IST)14 May 2021
    Sensex, Nifty trade flat

    BSE Sensex was trading flat at 48,750, while the broader Nifty 50 index was trading below 14,750 on Friday.

    Check live Sensex, Nifty levels

    09:07 (IST)14 May 2021
    Sensex jumps over 300 pts in pre-open

    BSE Sensex surged over 300 points to 48,994 levels in the pre-opening session on Friday.

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    08:49 (IST)14 May 2021
    IOB receives shareholders’ nod for Rs 4,100-crore infusion by govt

    Shareholders of Indian Overseas Bank (IOB) have given their approval for issuance of 246,54,23,932 equity shares to the government of India on a preferential basis for the capital infusion of Rs 4,100 crore. The EGM was conducted through virtual mode.

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    08:40 (IST)14 May 2021
    FIIs turn net seller in Indian share market

    On Wednesday, foreign institutional investors (FIIs) net sold shares worth Rs 1,260.59 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 704.36 crore in the Indian equity market.

    08:18 (IST)14 May 2021
    L&T, Cipla, Lupin, Dr Reddy’s, Vedanta, GAIL, Tata Power, Reliance Infrastructure stocks in focus

    Larsen & Toubro, Dr Reddy’s Laboratories, Cipla, Aditya Birla Capital, Macrotech Developers, Balkrishna Industries, Indigo Paints, Jindal Stainless, Just Dial, Kesoram Industries, Mindspace Business Parks REIT, Oberoi Realty, Reliance Infrastructure, Rossari Biotech, Surbhi Industries, and Welspun India, among others will release their quarterly results on May 14

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    07:58 (IST)14 May 2021
    FPIs’ investment in domestic equity surges 7 pc to USD 552 bn in March qtr

    The value of foreign portfolio investors’ (FPI) holdings in domestic equities reached USD 552 billion in three months to March 2021, a surge of 7 per cent from the preceding quarter, according to a Morningstar report. This was largely on the back of robust net inflows from FPIs, coupled with a strong performance of the Indian equity markets.

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    07:58 (IST)14 May 2021
    PE/VC deals slowing down because of second COVID-19 wave: EY

    The ongoing second COVID-19 wave is affecting private equity and venture capital investments in terms of the deal numbers witnessed in April, a report said on Thursday. However, going by deal value, the PE and VC investments jumped to USD 7.5 billion in April, up 37 per cent over March’s USD 5.5 billion, and 6.5 times higher than the USD 1.1 billion registered in April 2020.

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    07:57 (IST)14 May 2021
    Sensex beats gold by 52% in last 21 yrs; but this Akshaya Tritiya buy gold to hedge against inflation

    BSE Sensex total returns have beaten gold prices by over 50% in the last 21 years. However, this still doesn’t mean that investors should not look at buying gold this Akshaya Tritiya. Gold can act an excellent hedge for household budgets against inflation, experts say. S&P BSE Sensex has moved from 4,141 points in 1999 to 49,206 points in 2021 (Friday’s close). Similarly, gold prices gained from an average of Rs 4,234 per 10 grams in 1999 to Rs 47,760 per 10 grams now (Friday’s close of MCX gold futures).

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    07:56 (IST)14 May 2021
    IIP climbs 22.4% in March on turnaround in manufacturing; retail inflation slips to 4.29% in April

    India’s factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April.

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