Market Highlights: Nifty manages to end above 11,400, Sensex gains 86 points higher

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Updated: August 19, 2020 4:35:09 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty ended with gains for the third consecutive trading session.

Share Market Today, Share Market LiveSensex and Nifty added to their gains from the previous two sessions on Wednesday as they looked to continue the positive momentum.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty ended Wednesday’s trading session with gains but scaled down from the day’s high. S&P BSE Sensex ended 86 points or 0.22% higher at 38,614 points while the NSE Nifty 50 managed to close above the 11,400 mark. Tech Mahindra, after opening with losses managed to ride the rally seen during the day to end with gains on Wednesday. Bharti Airtel, Maruti, and SBI were the other top gainers on Sensex. Bajaj Auto, Nestle India, and ONGC were the top drags. Volatility slipped 2.69% during the day. All Nifty sectoral indices traded with gains except Nifty Auto, Nifty FMCG, Nifty Pharma, and Nifty IT.

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Highlights

    16:32 (IST)19 Aug 2020
    Sensex, Nifty close at a 5-month high; Tech Mahindra, Bharti Airtel, Maruti top gainers on D-Street

    Sensex and Nifty ended with gains for the third consecutive trading session on Wednesday. S&P BSE Sensex ended 86 points or 0.22% higher at 38,614 points while the NSE Nifty 50 managed to close above the 11,400 mark. Equity markets, however, slipped from the day’s high during the closing hours of trade but still managed to end the day with gains. The Volatility Index ended 2.7% lower at 19.88, the lowest closing level for the index in six months. Analysts said that this suggested some sort of fearlessness on the part of traders.

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    15:36 (IST)19 Aug 2020
    Nifty, Sensex continue upward march, rise for third day

    Sensex and Nifty ended Wednesday's trading session with gains, adding to their gaining streak for the third day straight. Nifty managed to close above the 11,400 mark while the 30-stock Sensex ended 86 points higher. Benchamrk indices gave up significant gains in the closing hours of the trading session but managed to stay in the green.

    15:14 (IST)19 Aug 2020
    Sensex scales down, now up just 50 points

    Sensex and Nifty look to be losing momentum as the near the closing bell with the benchmark indices giving up most of the gains. S&P BSE Sensex was up just 50 points while the Nifty 50 was at the 11,400 mark.

    14:31 (IST)19 Aug 2020
    Bharti Airtel stocks surge over 2%

    Share price of Bharti Airtel surged 2.19% to trade at Rs 538 per share on Wednesday morning as the AGR hearing began in the Supreme Court. 

    Check live prices: Bharti Airtel

    13:57 (IST)19 Aug 2020
    Nifty midcap and smallcap indices continue to shine

    Nifty Midcap and Smallcap indices continue to outperform the benchmark Nifty 50 index. While the Nifty 50 was up close to 0.50% on Wednesday the Nifty Midcap 50 was up 0.89% while the Nifty Smallcap index was up over 1.2%.

    13:43 (IST)19 Aug 2020
    Buy Bank Nifty in range of 22100-22150 ~ ICICI Securities

    In the early hours, the Bank Nifty managed to hold the Put base of 21500 and reversed during the day amid appreciation in the rupee. HDFC Bank, Kotak Mahindra Bank and IDFC First Bank witnessed short covering, which helped the Bank Nifty to end above 22000 with a gain of 2%. In the options space, additions were seen in 22000 Put and 22500 Call suggesting a trading range for the coming days.

    ~ ICICI Securities

    13:16 (IST)19 Aug 2020
    ‘Atmanirbhar’ stocks: Make in India push, fast track reforms may benefit these shares

    The recent push given to the ‘Make in India’ initiative by the government could finally be the kind of support the plan needed to be a success. The central government has recently put its foot on the gas with targeted efforts this time to address long pending issues around land, labor, infrastructure, etc, that have historically impacted India's aim to attract foreign investment, said a report by global brokerage and research firm Bank of America. Although the push is positive for India’s growth story in the long-term, the report adds that some stocks could witness near-term benefits as well.

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    12:46 (IST)19 Aug 2020
    Kotak Institutional Equities~ takaways from interaction with Sumant Kathpalia, MD & CEO of IndusInd Bank

    1. The funding franchise seems to have stabilized
    2. CV showing recovery trends
    3. The MFI business is holding up 
    4. Corporate is a less focus area and would work towards reducing risk in the near term.

    12:26 (IST)19 Aug 2020
    Upfront payment of AGR dues may be a positive development for Airtel and Jio

    The Supreme Court heard the AGR case on August 18 which was again adjourned to August 19. No conclusion came on staggered payment of AGR dues and whether making Jio liable for Rcom AGR dues. On the Supreme Court's question on whether to make Jio liable for Rcom AGR dues based on spectrum sharing. Jio has made it clear that there is no question of one operator paying dues of another operator and AGR dues payable by it is already paid. Vodafone Idea have paid  Rs 7,854 cr out of AGR dues of  Rs 58,254 cr and Airtel have paid Rs 18,004 cr out of  Rs 43,980 cr. Government is of the opinion to allow a 20 years time frame for companies like Airtel, Vodafone Idea to clear their AGR dues. But SC is concerned that if the companies become insolvent within 20 years, then who will pay the AGR dues. We believe Bharti Airtel will be able to make upfront AGR payment even if asked by court by raising money from QIP, debt. Vodafone Idea will be in a tough spot to make upfront payment as it will be difficult for the company to raise money which has negative net worth and is also loss making. Overall, we see upfront payment of AGR dues as a positive development for Airtel and Jio as it raises question mark on survival of Vodafone Idea in the industry. ~ Keshav Lahoti, Associate Equity Analyst, Angel Broking

    11:57 (IST)19 Aug 2020
    Interglobe Aviation cost cutting to help?

    INDIGO in its annual report highlighted that, average daily flights in China had recovered by 47% YoY as of May'20, based on recent data published by the Civil Aviation Administration of China (CAAC). Recovery was higher for domestic flights at 53% YoY in May'20. As per DGCA data (July'20), INDIGO has been the biggest gainer in terms of market share post the resumption of operations. Its share climbed to ~60% of domestic market share from ~48% over Jan-Feb. The company has gained market share from Air India, GoAir, and other operators, while SJET's market share remains consistent at 15-17%.

     INDIGO is undertaking various pre-emptive measures to focus and strengthen each of its business verticals to emerge stronger from the current crisis. However, due to the current uncertainties in the industry, we await further developments and clarity on the company achieving its targets. We remain Neutral on the stock

    ~ Motilal Oswal

    11:42 (IST)19 Aug 2020
    RIL share price jumps 1.5%; Netmeds acquisition opens up new retail opportunities; should buy?

    Reliance Industries (RIL) share price gained nearly 1.5 per cent to trade at Rs 2,150 apiece on BSE after Mukesh Ambani controlled oil-to-telecom conglomerate announced acquisition of a majority stake in digital pharmacy startup Netmeds by its subsidiary Reliance Retail Ventures Limited (RRVL). The market capitalisation of the company stood at Rs 13.52 lakh crore at the time of writing.

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    10:55 (IST)19 Aug 2020
    Multiplex shares on focus

    Inox Leisure shares were up close to 8% while PVR stocks gained over 5%. The multiplex industry has been battered down by the pandemic with the longest lockdown being forced upon them, keeping in mind social distancing norms. 

    10:50 (IST)19 Aug 2020
    Bharti Airtel will be able to make upfront AGR payment if asked by the court

    We believe Bharti Airtel will be able to make upfront AGR payment even if asked by the court by raising money from QIP, debt. Vodafone Idea will be in a tough spot to make an upfront payment as it will be difficult for the company to raise money which has negative net worth and is also loss-making. Overall, we see the upfront payment of AGR dues as a positive development for Airtel and Jio as it raises a question mark on survival of Vodafone Idea in the industry: Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd.

    10:49 (IST)19 Aug 2020
    Reliance Jio says 'no question of one operator paying dues of another operator'

    The SC heard the AGR case on August 18 which was again adjourned to August 19. No conclusion came on staggered payment of AGR dues and whether making Jio liable for Rcom AGR dues. On the Supreme Court's question on whether to make Jio liable for Rcom AGR dues based on spectrum sharing. Jio has made it clear that there is no question of one operator paying dues of another operator and AGR dues payable by it is already paid. Government is of the opinion to allow a 20 years time frame for companies like Airtel, Vodafone Idea to clear their AGR dues. But SC is concerned that if the companies become insolvent within 20 years, then who will pay the AGR dues: Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd.

    10:47 (IST)19 Aug 2020
    In short term gold might be weighed down by negative factors as long term trend remains intact

    COMEX gold trades moderately lower near $2002/oz after a 0.7% gain yesterday amid lack of investor interest. Upbeat US housing data and continued strength in US and global equity markets also supported the bear case. Although in the short term gold might be weighed down by negative factors the long term trend remains intact as falling US bond yields coupled with weaker US dollar might support buying at lower levels. $1970/oz remains a good support with resistance pegged at $2028/oz: Ravindra Rao, VP- Head Commodity Research at Kotak Securities

    10:46 (IST)19 Aug 2020
    Gold prices fall as investors await US Fed policy minutes; may touch Rs 54,500 per 10 gm in coming week

    Gold prices fell on Wednesday as investors awaited minutes from the US Federal Reserve’s last policy meeting. Analysts believe that an intermittent profit booking cannot be ruled out on signs of easing US-China trade tensions and optimism around COVID-19 vaccine. At 10 AM, gold October futures were trading 0.60 per cent or Rs 321 down at Rs 53,250 per 10 gm, while silver September futures dropped 1.62 per cent or Rs 1,128 to rule at Rs 68,377 per kg on MCX in Wednesday’s session. Yesterday, news reports came in that Senate Republicans are planning to introduce a scaled-back coronavirus relief package. The slimmed-down bill will provide a $300 a week in federal unemployment benefits, which supported gold prices.

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    10:33 (IST)19 Aug 2020
    Have midcap and smallcap stock indices lost steam? Certain shares may continue to rise | Interview

    After the recent rally that saw Midcap and Smallcap indices outperform the benchmarks, valuations suggest some cooling down at current levels. However, there still are certain midcap and small stocks that may continue to rise, said Shyamsunder Bhat, Chief Investment Officer at Exide Life Insurance, in an interview with Kshitij Bhargava of Financial Express Online. The market veteran with over two decades of experience added that after holding on to his position during the March sell-off he has been treading cautiously during the recent rally. Shyamsunder Bhat added that financials and IT are some of the largest sectoral holdings of Exide Life. Here are the edited excerpt:

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    09:57 (IST)19 Aug 2020
    Sensex, Nifty look to gain for third-day straight; SBI, Bajaj Auto top gainers on Dalal Street

    Sensex and Nifty continued to march upwards, opening with gains on Wednesday morning. The benchmark indices entered Wednesday's trading session on the back of two days of consecutive gains. S&P BSE Sensex was up over 200 points or 0.54% while the 50-stock Nifty was just shy of the 11,450 mark. Global cues were mixed but analysts had said that Yesterday’s closing levels signals more upside for Nifty 50. Volatility slipped once again while midcap and smallcap stocks once again outperformed benchmarks.

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    09:22 (IST)19 Aug 2020
    Sensex and Nifty gain on opening bell

    S&P BSE Sensex was seen gaining over 200 points on the opening bell on Wednesday. The Nifty 50 index was just shy of the 11,450 mark. L&T, ICICI Bank, and Reliance Industries were the top gainer on Sensex. All sectoral indices were trading with gains on Nifty.

    09:16 (IST)19 Aug 2020
    Sensex surges in pre-open session

    The S&P BSE Sensex surged 199 points in the pre-opening session with L&T, ICICI Bank, and Reliance gaining over 1% each. Nifty 50 index was over the 11,450 mark in the pre-open session. SGX Nifty was trading higher by 27 points.

    09:09 (IST)19 Aug 2020
    Where's the yellow metal headed now?

    A weak US currency and expectations of more economic easing measures amid slow global growth continue to lift the safe haven demand of gold. However, an intermittent profit booking cannot be ruled out on signs of easing US – China trade tensions and optimism about coronavirus vaccine.

    Technical Outlook (London spot): A direct break of $2020 is required to continue the bullish outlook, else intraday bias largely on the downside. However, major downside moves are likely only if prices break $1970.

    ~ Hareesh V, Head of Commodity Research at Geojit Financial Services

    08:57 (IST)19 Aug 2020
    Retain ‘buy’ on Eicher Motors with target price of Rs 25,000

    Eicher reported 1Q Ebitda of just Rs 38 million as the Covid-related lockdown took a toll on operations. Demand commentary was strong, though, with Royal Enfield (RE) bookings close to pre-Covid level, and the build-up of a waitlist amid supply constraints. RE also plans to launch a new product in 2QFY21. We find Eicher well-placed to benefit from a potential demand revival given its strong franchise, aggressive product pipeline and big dealer expansion. Retain ‘buy. ~ Jefferies

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    08:47 (IST)19 Aug 2020
    Nifty ready for the rangebound to positive move today: Vishal Wagh

    Nifty set up is ready for the rangebound to positive move for the day. Global markets are a mixed bag. The US market is consolidating near to high. The Asian markets are a mixed bag. For the day, one should implement the strategy of buy on the dip for intraday. The positional trader should wait for the levels 11320-11350 for a small swing trade. The bears should have an aggressive hedge in case of Nifty heavyweights and indices positions. ~ Visha Wagh, Research Head, Bonanza Portfolio

    08:42 (IST)19 Aug 2020
    Stocks in focus: Reliance Industries, Vedanta, Yes Bank, Bharti Airtel, among others to watch for

    Sensex and Nifty enter Wednesday’s trading session on the back of a two-day gaining streak. The 50-stock Nifty managed to close above the 11,350 mark, analysts believe that Nifty has more upwards potential in the near-term after the recent rally. Global cues were mixed on Wednesday morning with Shanghai Composite trading with losses along with Hang Seng. However, stock markets in Japan and South Korea surged higher. Overnight, both the S&P 500 and Nasdaq reached record highs, nudged by strong sales growth reported by major retailers including Walmart and Kohl’s.

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    08:13 (IST)19 Aug 2020
    People’s Bank of China picks up stake in ICICI Bank via QIP issue

    After picking up a stake in housing finance major HDFC, the Chinese central bank People’s Bank of China has acquired a very small stake in ICICI Bank through the recently closed Rs 15,000 crore share sale by the country’s second largest private sector lender. The People’s Bank of China was among 357 institutional investors which included domestic mutual funds, insurance companies and global institutions that subscribed to the issue, sources said.

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    08:13 (IST)19 Aug 2020
    Yes Bank sells over 8% stake worth over Rs 75 crore in CG Power

    Yes Bank on Tuesday divested more than 8 per cent stake worth over Rs 75 crore in CG Power and Industrial Solutions through open market transactions. The lender offloaded 5.18 crore shares worth over Rs 75 crore through the BSE and the NSE, as per bulk deal data. The quantum of shares amount to 8.28 per cent shareholding in the company.

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    08:12 (IST)19 Aug 2020
    RIL acquires online pharmacy Netmeds; Mukesh Ambani bets on e-pharmacy days after Amazon’s foray

    Mukesh Ambani has further upped the ante to take on e-commerce biggies in multiple segments. After grocery, Reliance Industries has ventured into the online pharmacy space with the acquisition of a majority stake in digital pharmacy startup Netmeds by its subsidiary Reliance Retail Ventures Limited (RRVL). Reliance Retail has acquired the stake in Vitalic Health and its subsidiaries, collectively known as Netmeds, for around Rs 620 crores in cash, the company announced on Wednesday. The deal would give Reliance Retail approximately 60 per cent stake Netmeds and 100 per cent direct equity ownership of its subsidiaries including Tresara Health Private Limited, Netmeds Market Place Limited, and Dadha Pharma Distribution Pvt Limited.

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