share Market Highlights: Nifty ends below 16,250, Sensex gives up 54,300; Reliance Industries falls 2%

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Updated: August 6, 2021 4:20:43 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices closed in the red on Friday. Bank Nifty gave up marginal gains during the dying hour of trade to end in red, broader markets closed mixed.

Share Market Today, Share Market LiveIndia VIX ended 4.99% higher. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity benchmark indices snapped their gaining streak on Friday, closing in the red. S&P BSE Sensex ended 0.39% lower at 54,277 points while Nifty 50 fell 0.35% to closed at 16,238. Bank Nifty was down 0.07% failing to regain 36,000 levels. Broader markets were mixed on the closing bell with certain midcap and smallcap indices closing in the green. Reliance Industries was the top laggard on Sensex, falling 2%, followed by Ultratech Cement, Tata Steel, HCL Technologies, and State Bank of India. On the other end of the table, IndusInd Bank jumped 2.8% to finish as the top Sensex gainer, followed by Tech Mahindra, Bharti Airtel, and Maruti Suzuki India.

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Highlights

    16:20 (IST)06 Aug 2021
    Sensex, Nifty snap gaining streak, end in red; here's what experts make of today's trade

    Domestic benchmark indices snapped their gaining streak on Friday and finished the day's trade in the negative territory. On the closing bell, S&P BSE Sensex was 0.39% lower at 54,277 points while Nifty 50 fell 0.35% to close at 16,238. Reliance Industries was the top laggard on Sensex, falling 2%, followed by Ultratech Cement, Tata Steel, HCL Technologies, and State Bank of India. On the other end of the table, IndusInd Bank jumped 2.8% to finish as the top Sensex gainer, followed by Tech Mahindra, Bharti Airtel, and Maruti Suzuki India. Bank Nifty was down 0.07% failing to regain 36,000 levels. Broader markets were mixed on the closing bell with certain midcap and smallcap indices closing in the green. India VIX fell 2%.

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    15:32 (IST)06 Aug 2021
    CLOSING BELL

    Domestic benchmark indices closed in the red on Friday. Bank Nifty managed to end in the red, broader markets ended mixed.

    15:18 (IST)06 Aug 2021
    Top Sensex gainers

    IndusInd Bank was up 3% to trade as the top Sensex gainer ahead of the closing bell, followed by Bharti Airtel, Tech Mahindra, and Maruti Suzuki India. 

    15:00 (IST)06 Aug 2021
    Windlas Biotech IPO subscribed 13 times so far on final day of bidding; check grey market premium

    Windlas Biotech’s IPO has been subscribed 13.23 times so far on the final day of subscription. The Rs 401.5 crore IPO of Windlas Biotech was fully subscribed by investors on the first day of sale and has continued to receive strong interest through the subscription window. The IPO consists of a fresh issue of equity shares worth Rs 165 crore while the remaining is an offer for sale by existing shareholders. Windlas Biotech (WBL) is among the top five players in the domestic pharma formulations CDMO industry in India in terms of revenue with a 1.5% market share.

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    14:52 (IST)06 Aug 2021
    Krsnaa Diagnostics IPO; should you buy?

    “Krsnaa Diagnostics has reported a steady growth in topline (CAGR of 38%) over the last three years. The company was able to turn in a profit of Rs 185 crore in FY21,  mainly due to fair value gain in the previous year. Adjusted for fair value and deferred tax, net profit for FY21 rose to Rs 31.4 crore compared with Rs 13.53 crore in the year earlier. At the higher end of the price band, Krsnaa Diagnostics IPO is aggressively priced at a P/E ratio of ~80 times FY21 EPS (on a fully diluted on post-issue basis). Krsnaa Diagnostics has a negative average P/E on the basis of the last three years. The P/E ratio is in line with Metropolis Healthcare (81 times) but cheaper than Dr Lal Path Labs (111 times). Given the company’s steady growth in topline, stable margins, good return ratios, strong runway for growth we remain “positive” on the long-term prospects of this issue,” SEBI-registered investment advisor INDmoney said in a report.

    14:07 (IST)06 Aug 2021
    Senior citizens tax-saving FD rates up to 7.25%: Check latest offers from leading banks

    Guaranteed returns are possibly the biggest reason behind the astronomical popularity of fixed deposits in our country. However, with the Reserve Bank of India keeping the repo rate unchanged at a low of 4% for over a year now, most banks have reduced their fixed deposit interest rates.

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    13:28 (IST)06 Aug 2021
    Bank Nifty index rejig: HDFC Bank, IndusInd Bank to see fund inflows; SBI, ICICI Bank to record outflows

    HDFC Bank, IndusInd Bank, AU Small Finance Bank, and Bandhan Bank will witness the highest fund inflows today among the Bank Nifty stocks, as the index is rebalanced. The banking index will see a change in its weights as a part of the semi-annual index review. There will be no fresh inclusions to the index as no other stock from the banking space qualifies to replace any of the existing constituents. Fund outflows will be seen in stocks such as State Bank of India, ICICI Bank, and Kotak Mahindra Bank, according to Edelweiss Alternative Research.

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    13:06 (IST)06 Aug 2021
    Midcap, Smallcap indices surge

    Midcap and Smallcap indices surged higher on NSE while the Nifty 50 and Sensex were down in the red. 

    12:35 (IST)06 Aug 2021
    Pizza hut operator Devyani International’s IPO subscribed 9.5 times so far; check grey market premium

    Devyani International’s Rs 1,838 crore IPO has been subscribed 9.56 times so far on the final day of sale, with all pockets of investors oversubscribing their portion of the issue. Retail investors have subscribed the IPO in the highest numbers so far. Devyani International is the largest franchisee of Yum brands in India and operates brands KFC, Taco Bell, and Pizza Hut under its banner align with Costa Coffee. Devyani International’s IPO has seen strong demand from investors since opening on Wednesday and was fully subscribed within three hours of the first day of bidding. 

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    12:19 (IST)06 Aug 2021
    Top Sensex gainers

    IndusInd Bank and Bharti Airtel were the top gainers on Sensex at their hour. Both the stocks were up more than 2%.

    Check live price: IndusInd Bank; Bharti Airtel 

    12:17 (IST)06 Aug 2021
    Policy more balanced than aggressive

    "The RBI MPC has continued its accommodative stance and maintained status quo on repo rates for the seventh straight meet in line with market’s expectation. Inflationary tendencies have been affirmed and the MPC has upped its inflation forecast for FY22 to 5.7% labelling inflation driving price pressures as "exogenous and transitory." While additional measures have been announced to comfort the banks on liquidity availability the continuance of the same will foster an atmosphere of affordability, which has emerged as the new characteristic of the housing market. Conditions around aggregate demand still remain weak and any rate hike would have further deferred growth. Hence, the central bank’s policy remained more balanced than aggressive as it remains on heels to ensure adequate liquidity within the economy," said Jimeet Modi, Founder & CEO Samco Group 

    11:57 (IST)06 Aug 2021
    RBI to keep rates unchanged till end of this fiscal year?

    "We infer that RBI is likely to stand put on the Repo rate till the end of this fiscal year, as the endeavor to stabilize growth will be a long-drawn process, given the threat of evolving COVID strains.  In case, growth stabilizes later this year, the process of policy normalization will initially begin with a hike in reverse repo, rather than the repo rate," said Amar Ambani, Senior President & Head of Institutional Research, YES Securities.

    11:25 (IST)06 Aug 2021
    Sebi introduces accredited investors concept in Indian securities market

    Markets regulator Sebi has introduced the concept of ‘accredited investors’ in the Indian securities market, a move expected to open up a new channel for raising funds. A person or entity will be identified as an accredited investor on the basis of net worth or income. Individuals, HUFs, family trusts, sole proprietorships, partnership firms, trusts and body corporates can get accreditation based on financial parameters specified by the regulator, according to a notification dated August 3.

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    11:23 (IST)06 Aug 2021
    Sell or hold Glenmark Life Sciences?

    "We suggest short-term investors to book partial profit in the range of Rs 810 - Rs 870 and can hold partial allotment as we expect Glenmark Life Science to do better in the Medium to Long term," said Yash Gupta Equity Research Associate, Angel Broking.

    11:20 (IST)06 Aug 2021
    RIL share price falls 2%, Future Retail stock dives after SC ruling in favour of Amazon in Ambani-Biyani deal

    RIL share price fell more than 2% today while Future Retail stock tanked 10% after the Supreme Court of India ruled in favour of Amazon - seeking to block a deal between Mukesh Ambani and Kishore Biyani.

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    10:39 (IST)06 Aug 2021
    Vodafone Idea share price jumps

    A day after its dramatic 24% fall, the share price of Vodafone-Idea was up 14% on BSE today. The fall came after the telecom company announced that Kumar Mangalam Birla will step down as non-executive director and non-executive chairman.

    10:30 (IST)06 Aug 2021
    Bank Nifty facing pressure on higher levels

    'Bank Nifty on Technical charts indicated pressure from the higher levels which was made yesterday near 36200 levels, now for Friday immediate support is at 35750 followed by 35600- 35400 on the lower side & key resistance is placed at 36000-36200 & third resistance at 36450,' said Rahul Sharma, Co-Founder, Equity99.

    10:13 (IST)06 Aug 2021
    RBI cuts growth projections

    RBI has trimmed its growth projections for India's economy to 9.5% from 10.2% earlier. 

    10:11 (IST)06 Aug 2021
    Add long positions at lower levels

    Short build up in Bank Nifty futures, fall in put-call ratio on the back of call writing at 16300-16400 levels and short build-up by FIIs’ in the Index Futures segment Indicates that one should be cautious for the markets. Therefore, our advice is to book profits and add long positions at lower levels. On the lower side, the 16200-16100 level will act as immediate support where Puts have been written.

    ~ HDFC Securities

    10:09 (IST)06 Aug 2021
    Sensex and Nifty surge higher

    Sensex and Nifty jumped 0.25% each after the initial hour of trade, helped by RBI's MPC keeping repo rate unchanged to facilitate growth for the covid hit economy.

    10:03 (IST)06 Aug 2021
    RBI keeps rates unchaged

    The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has kept the repo rate unchanged at 4% at its bi-monthly meeting. 

    09:54 (IST)06 Aug 2021
    Glenmark Life Sciences listing: No bumper gains; shares debut at 4% premium to IPO price

    Glenmark Life Sciences shares made a weak listing on the stock exchanges today, marred by the muted market momentum. Glenmark Life Sciences’ shares began trading at Rs 751 per share, up 4.32% from the IPO price of Rs 720 per share. The IPO of Glenmark Life Sciences had received a strong response from investors earlier last week. A subsidiary of the already listed Glenmark Pharmaceuticals, Glenmark Life Sciences develops and manufactures high value, non-commoditized APIs with a portfolio of 120 products. On listing the company was commanding a market capitalization of Rs 9,203 crore. 

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    09:24 (IST)06 Aug 2021
    Nifty aiming 16,600

    "Shortly after achieving the 16350 objectives that we have been aiming for in the last few days, an evening star candlestick pattern matured, in hourly charts, suggesting that Nifty has embarked on a mean reversion move. Having formed so early in the uptrend, favoured view expects the correction to be brief. In the event of such dips not extending beyond 16238 or 16174, the return to uptrend could be swift, with 16600 as the next objective. Else, we may have to wait till at least 16030," said Anand James, Chief Market Strategist at Geojit Financial Services.

    09:18 (IST)06 Aug 2021
    OPENIGN BELL

    Domestic equity markets began the day’s trade flat, dancing between gains and losses. Broader markets were outperforming. Bank Nifty was up 0.26%.

    09:09 (IST)06 Aug 2021
    Back in green

    At the end of the pre-open session, Sensex was back in the green, jumping 19 points while Nifty was just above 16,300.

    09:05 (IST)06 Aug 2021
    Down in red

    Sensex, Nifty were trading flat with negative bias during the pre-open session on Friday. Sensex was below 54,450 while Sensex was below 16,290.

    09:03 (IST)06 Aug 2021
    Sensex, Nifty trade mixed

    Sensex with gains during Friday's pre-open session while Nifty was down with losses amid mixed global cues. 

    08:59 (IST)06 Aug 2021
    F&O outlook 12 August: Nifty may cross 16,500; Bank Nifty may move towards record high, if it tops 36,200

    Two months’ of boredom finally came to an end as the market kicked off the August month with a bang. There were several attempts made recently to reach the millstone of 16000 but every time global markets became a spoil sport. This time it was certainly not the case. We had complete support from the global peers which provided impetus to reach the magical figure of 16000. 

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    08:45 (IST)06 Aug 2021
    Nifty expected to open flat

    "Nifty is expected to open flat around yesterday’s close. It has been making new highs since the last 4 days but the volumes have decreased in the last 2 days therefore it seems there may be some correction. 16200 and 16150 will act as very strong support. Nifty may see 16400 and 16450 in the next few days" said Gaurav Udani, Founder & CEO, ThincRedBlu Securities.

    08:41 (IST)06 Aug 2021
    Glenmark Life Sciences, RIL, Airtel, Vodafone Idea, SBI, HDFC Bank, Cipla, rate sensitive stocks in focus

    BSE-listed companies such as Hindalco Industries, Mahindra & Mahindra, Berger Paints (India), Muthoot Finance, Piramal Enterprises, Steel Authority of India (SAIL), Balkrishna Industries Astral, Bharat Electronics, Tata Power, Alkem Laboratories, AU Small Finance and Abbott India, will announce April-June quarter earnings today.

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    08:40 (IST)06 Aug 2021
    If 16180 support is held, could Nifty scale higher?

    "The Nifty volatility skew is greater than 3, plus the India VIX eased for the fourth straight session, indicating trader sentiment is bullish and strike wise PCR OI of 16,300 increased to 0.91 vs 0.71, indicating put writing. In the coming session, as long as the 16180 support is held on a closing basis, index eventually head to challenge its high OI of 16500 over the short-term, as market's cost-of-carry is up on the back of fresh long additions," said Raushan Kumar, Derivative Analyst, IIFL Securities. 

    08:19 (IST)06 Aug 2021
    Petrol and diesel price today 6 August 2021: Rates steady for 20th day; check price in Delhi, Mumbai here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel have been left untouched by oil marketing companies for the twentieth consecutive day. Today, petrol in the national capital costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4, now sitting at all-time highs. The price of petrol in Delhi has increased by Rs 11.15, while diesel price has surged Rs 10.80 per litre since the rates started increasing more than 2 months back. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.

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    08:09 (IST)06 Aug 2021
    Charts suggest strong momentum for Nifty

    "Nifty on Technical Daily Charts indicates very strong momentum as we can see 6 bullish candles consecutively with higher top higher bottom formation, for Friday Nifty has immediate support at 16260 followed by 16220 & major support 16150, Similarly with closing at 16294 the next Resistance is placed at 16330 followed by 16385 and 16450 as third major resistance," said Rahul Sharma, Co-Founder, Equity99.

    08:02 (IST)06 Aug 2021
    Bulls are holding the market

    "Technically, Nifty formed a Doji sort of candle on daily scale and continues the formation of higher highs - higher lows from past six sessions. If Index manages to sustain the current momentum, we can witness an up move towards 16400-500 zones, while on the downside 16,000 could act as a key support. India VIX came down further by 3.6% to 12.87 levels. Stability in volatility indicates that bulls are holding the market to cheer the fresh momentum," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

    07:59 (IST)06 Aug 2021
    Devyani International, Exxaro Tiles, Krnsaa Diagnostics, and Windlas Biotech IPO close today

    The IPOs of Devyani International, Exxaro Tiles, Krnsaa Diagnostics, and Windlas Biotech will close for subscription today. All four IPOs were oversubscribed on day one and have been seeing strong interest from investors. Retail investors have oversubscribed their portion in each issue. 

    07:58 (IST)06 Aug 2021
    Glenmark Life Sciences to list on bourses today

    Shares of Glenmark Life Sciences are set to list on BSE and NSE today. The IPO of the pharma company were subscribed a massive 44 times earlier last month. 

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