Share Market Highlights: Sensex ends 214 points higher, Nifty at 11,378; BASF shares up 20%, NTPC gains 5%

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Updated: August 21, 2020 4:28:15 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex, Nifty slipped from the day's high but still managed to end 214 points higher on the back of positive global cues.

stock market live news,stock market live,stock market live india,stock market live update,stock market live nse,stock market live news today,stock market live news in hindi,stock market live nse,stock market live nse/bse,nse stock market live,live bse nse stock market today,bse nse live stock market news,nse stock market live news,nse bse india stock market liveSensex and Nifty ended Friday’s trading session with gains, following positive global cues.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty ended the day down from the day’s high but still in the green. S&P BSE Sensex was up 214 points while the Nifty 50 index managed to end just below the 11,380 mark. Power sector players NTPC and Powergrid managed to surge over 4% each, making them the top Sensex gainers. These were followed by Asian Paints, HDFC Bank, and Sun Pharma. ONGC, Bharti Airtel, and Tata Steel were the worst performing stock on Sensex. Volatility slipped to a six-month low. Except Nifty IT, Media, and Metal all indices ended with gains.

Reserve Bank of India’s Deputy Governor Michael Debabrata Patra in the previous monetary policy committee meeting said that Technical considerations under the monetary policy framework have brought the policy to a standstill. The comments made by Patra, as seen in the minutes of the MPC, come at a time when the term of the first MPC is coming to an end and inflation has been above the MPC’s tolerance band for months.

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Highlights

    16:27 (IST)21 Aug 2020
    Sensex, Nifty end the week with gains; power sector, financials push Dalal Street upwards

    Sensex and Nifty returned to winning ways on Friday as they gained half a percent each to end with gains, following stronger global cues. S&P BSE Sensex was up 214 points while the Nifty 50 index managed to end just below the 11,380 mark.Power sector stocks were again seen surging on the bourses. Volatility tanked to six-month lows, falling over 4% during the day’s trade. All Nifty Sectoral indices, except Nifty IT, Nifty Metal and Nifty Media. 17 of the 30 Sensex constituents ended with gains on Friday.

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    15:45 (IST)21 Aug 2020
    Sensex and Nifty end with gains on Friday

    On closing, S&P BSE Sensex was up 214 points while the Nifty 50 index managed to end just below the 11,380 mark. NTPC, Asian Paints, and Powergrid were the top gainers.

    15:31 (IST)21 Aug 2020
    SBI, other PSU banks need Rs 2.1 lakh crore coronavirus vaccine from government

    Public sector lenders need to raise as much as Rs 2.1 lakh crore in external capital over the next two years to tackle the capital shortages that will only be exacerbated by the coronavirus pandemic, rating agency Moody’s said. Most of the capital required by the public lenders is likely to come from the government. While a large number of private sector banks have already undertaken capital raising, in an effort to tackle the headwinds that may emerge in the medium-term, their public sector counterparts are yet to do so. Moody’s said that the pandemic and the resultant lockdowns will hit the economy and in turn hurt the public sector lenders and their asset quality.

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    15:19 (IST)21 Aug 2020
    Strides Pharma receives US FDA approval for Ursodiol Tablets

    “Strides Pharma Global Limited, step-down wholly owned subsidiary of Strides Pharma Science Limited, got approval from the U.S. FDA for Ursodiol Tablets USP, 250 mg and 500 mg, to market a generic version of Urso 250® Tablets, 250 mg and Urso Forte Tablets®, 500 mg , of Allergan Sales, LLC. Ursodiol tablets are indicated for the treatment of patients with Primary Biliary Cirrhosis (PBC). Urso 250® Tablets, 250 mg and Urso Forte Tablets®, 500 mg, of Allergan Sales, LLC had an annual sales of approximately USD 35 million in the U.S. (IQVIA MAT June 2020). This is one of the significant approval for Strides Pharma Science Limited and positive development," said Angel Broking .

    14:51 (IST)21 Aug 2020
    Rupee outlook

    India rupee rose following cues from stronger Chinese Yuan. Most of the Asian currencies traded higher following overnight weakness in dxy index and return of risk-on sentiments.  Rupee expected to trade in range of 74.50 to 75.30 in coming days. Having continued to decline in overnight session,  slipping to lows of just under 92.60 early today,dollar index  turnaround after European flash PMI number.  Looking ahead, focus for dollar is increasingly turning to next week’s Jackson Hole event, where FOMC Chairman Powell will be speaking and progress on second US Corona virus stimulus package  in September.
     
    --Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities

    14:08 (IST)21 Aug 2020
    Private promoter shareholding rises to all-time high, govt share falls to all-time low on all NSE stocks

    Ownership of private promoters in companies listed on the National Stock Exchange (NSE) touched 44.43% to reach an all-time high in value terms at the end of June this year. Private promoters ownership, which includes marquee business houses like Tata Sons, HDFC, among others, was at 44.25% at the end of March this year, according to Primeinfobase.com. On the flip side, the government of India’s ownership reached an all-time low of 6.36% in the same time period, aided by divestment as well as the muted performance of public sector entities when compared to their private peers.

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    13:29 (IST)21 Aug 2020
    How much did Ruchi Soya's stock price help Baba Ramdev earn last quarter?

    Yoga Guru Baba Ramdev's Ruchi Soya witnessed an exceptional April-June quarter. With the share price surging 697% in the quarter, the value of the promoter holding went from Rs 5,040 crore at the end of March 2020 to Rs 40,160 crore at the end of June, 2020, according to data provided by Primeinfobase.com.

    13:01 (IST)21 Aug 2020
    Max Healthcare Institute shares hit 5% upper circuit

    “Listing of Max Healthcare Institute Ltd - Max Healthcare and Radiant merged their healthcare business to create the second largest healthcare chain in India by revenue after Apollo Hospitals. Max Healthcare will be led by Abhay Soi and backed by KKR&Co., who are well known as a global investment company. Revenue for the merged entity for FY 2020 is 4,026 Crores and it will be the second largest private hospital chain after Apollo Hospitals. Currently Max Healthcare has 17 Facilities with total bed capacity of 3,400 with Major facilities in the NCR region. Abhay Soi and KKR will be the promoters of Max Healthcare with controlling stakes of 52% and 23.3% respectively. We expect Max Healthcare to do well under the leadership of Abhay Soi and KKR," said Yash Gupta, Equity Research Associate, Angel Broking.

    12:19 (IST)21 Aug 2020
    Cochin Shipyard Ltd.

    Cochin Shipyard Ltd (CSL) is the largest public sector shipyard in India deriving major revenue from Navy. The main sources of revenue are ship building for Navy, Coast guard, commercial and ship repair.

    • Management's focus is on doubling of ship repair business for this CSL is ramping-up its ship repair facilities and construction of a new dry dock.
    • We remain constructive on CSL over long term, given capacity expansion, improvement in order visibility and GoI focus on indigenous procurement.
    • We value CSL at a P/E multiple of 10x on FY22E and maintain our Buy rating with a target price of Rs445.~ Geojit Financial Services
    11:48 (IST)21 Aug 2020
    Powergrid, NTPC top Sensex gainers

    Powergrid and NTPC were the top Sensex gainers on Friday, gaining 4% and 2.5%, respectivelly. Power sector stocks have been  surging since yesterday as the Cabinet Committee on Economic Affairs (CCEA) approved the proposal of one-time restructuring of loans to discoms under Ujwal DISCOM Assurance Yojana (UDAY) schemes. The one-time relaxation was aimed at improving liquidity in  the power sector and ensuring payments by State Governments to DISCOMs.

    11:31 (IST)21 Aug 2020
    Gold prices rise after two-day fall, follow global trend; check gold, silver prices today

    Gold prices moved higher today after witnessing a sharp fall in the previous session. In the international markets too gold prices rose as the dollar weakened following the downbeat US jobless claims data. The gold October futures were trading Rs 186 or 0.36 per cent higher at Rs 52,337 per 10 gram, while silver September futures were ruling at Rs 68,682 per kg, up Rs 1,087 or 1.61 per cent on MCX.

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    11:27 (IST)21 Aug 2020
    Aarti Drugs bonus share issue sends stock price soaring 10% to all-time high

    Aarti Drugs share price surged 10% on Friday morning, taking the stock up over 25% in less than two trading sessions. The recent rally for the pharmaceutical firm comes after its board approved a bonus issue of shares on Thursday. Shareholders of Aarti Drugs will be getting an additional three equity shares for every share held by them, the company informed the bourses. The stock was trading at Rs 3,100 after hitting an all-time high of Rs 3,122 per share on Friday. Shares of Aarti Drugs have gained 422% since January 1.

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    10:45 (IST)21 Aug 2020
    GMM Pfaudler share price surges 8% on acquiring controlling stake in parent group

    GMM Pfaudler share price surged over 8 per cent to Rs 6,360 apiece on BSE, a day after the company announced that it would acquire 54 per cent stake in the global business of its parent, the Pfaudler Group, for a consideration of about Rs 200 crore, funded through a mix of internal accruals and debt.

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    10:06 (IST)21 Aug 2020
    Sensex, Nifty rise on the back of global cues; India VIX tanks to 6-month low, financials gain

    Domestic benchmark indices started Friday’s trading session with gains, back to trade in the green after halting in the negative territory for a day. Global cues were positive helping indices gain. S&P BSE Sensex was up over 300 points in the opening few minutes while the Nifty 50 reclaimed the 11,400 mark. All Sensex constituents, except Bharti Airtel, were trading with gains. Volatility was again seen slipping while Nifty Midcap and Smallcap indices once again rallied to beat the benchmark index. Global cues were positive with the US stock markets ending higher, helping domestic indices carry that momentum, analysts say.

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    09:16 (IST)21 Aug 2020
    Air India privatisation: At least 6, including Lufthansa and Etihad, in race for Maharaja

    At least half a dozen entities including Hinduja Group, Germany’s Lufthansa, the UAE’s Etihad Airways, Singapore Airlines and the Tata Group may throw their hats in the ring, as the government has expedited the process to sell sick, state-owned airline Air India (AI), sources privy to matter said. Several steps are being taken to lure the buyers including putting in a place a plan to trim the airline’s 9,400-strong workforce expeditiously.

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    09:11 (IST)21 Aug 2020
    SBI Life, Divi’s Labs to enter Nifty 50 next month, will replace Bharti Infratel, Zee Entertainment

    SBI Life Insurance Company and Divi’s Laboratories will be entering the 50-stock Nifty from September 25, replacing Bharti Infratel and Zee Entertainment Enterprises, the Index Management Sub-Committee (IMSC) of NSE indices said. With the exclusion of Zee Entertainment Enterprises, the benchmark index will longer have any media sector player among its constituents. On the other hand, the inclusion of SBI Life Insurance will make it the second life insurance company to enter the bourses after HDFC Life Insurance. The move comes on expected lines as part of the semi-annual review of Indices. Along with the changes to the benchmark Nifty 50, revisions have also been made to Nifty Next 50, Nifty 500, among other indices. 

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    09:11 (IST)21 Aug 2020
    Stocks to watch: SBI Life, Divi’s Lab, IRCTC, PNB, Oil India, Wipro, Tata Steel, Hindalco, GMM Pfaudler

    Nifty futures were trading 95.75 points or 0.85 per cent higher at 11,389.20 on Singaporean Exchange, suggesting a higher opening for BSE Sensex and Nifty 50 on Friday. A host of factors such as NSE rejig, April-June quarter results and global cues will sway the market sentiment today. Besides, the Supreme Court will continue the AGR hearing today. Analysts suggest investors to remain cautious while trading today.

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    08:56 (IST)21 Aug 2020
    ‘India exported Rs 21,515 crore of spices, spice products in FY20’

    India exported 11,83,000 tonne of spices and spice products during the last fiscal to realise Rs 21,515.4 crore, state-run Spices Board said. In dollar terms, the export value stands at $3,033.44 million. The spices export during 2019-20 exceeded the fixed targets in terms of volume, rupee value and dollar value.

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    08:38 (IST)21 Aug 2020
    Sensex, Nifty likely to open higher on Friday; key things to know before opening bell

    Domestic equity market benchmarks BSE Sensex and Nifty 50 are set to open higher on Friday. Market participants will continue to track corporate results for stock-specific actions, trends in COVID-19 cases, oil price, rupee trajectory and other global cues. Investors are expected to react to the minutes of the Reserve Bank of India’s August monetary policy meeting released yesterday.

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    08:25 (IST)21 Aug 2020
    What moved marketyesterday?

    “Weak global cues and a sudden rise in the dollar index triggered a sharp fall in the markets. Investors across the globe pruned their holdings after the US Fed's July meeting minutes raised concerns over the recovery due to ongoing coronavirus pandemic. This led to a rally in the dollar and fall in world equity markets. The Nifty closed 0.87 per cent lower and the Bank-Nifty fell 1.38 per cent.  However, the broader market bucked the trend with the Nifty 500 index closing at the day's highest level. The strategy should be to buy on dips. Investors should buy Nifty if the index corrects further. Below 11300 levels, the Nifty would halt at 11240 with a final stop loss at 11100," said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.

    08:13 (IST)21 Aug 2020
    ICICI Bank's Rs 15,000 crore QIP saw marquee names line up

    ICICI Bank's QIP sawrobust response from high quality FIIs and DIIs and was over-subscribed more than 4x. The QIP was anchored by marquee investors like Government of Singapore, CounterPoint (MSIM), Wellington, Norges, Nomura, APG, Fairfax, Neuberger Berman, HDFC MF, SBI MF, Birla MF, Axis MF, SBI Life, Premji and HDFC Life.

    08:09 (IST)21 Aug 2020
    Shaktikanta Das says RBI kept interest rates unchanged to keep arsenal dry, use judiciously

    While the Reserve Bank of India’s Monetary Policy Committee decided to keep the policy rates unchanged in the meeting held earlier this month, RBI Governor Shaktikata Das said that it is important to keep our arsenal dry and use it judiciously. He added that despite a headroom for further monetary policy action, some more time should be given to the cumulative 250 basis points cut in the policy rate to seep into the financial system and further reduce the interest rates. He further said that given the uncertain inflation outlook, it is important to see the momentum in inflation, which is also dependent on effective supply-side measures. 

    08:09 (IST)21 Aug 2020
    Technical considerations have shackled monetary policy: RBI Deputy Governor

    Technical considerations under the monetary policy framework have brought the policy to a standstill, Reserve Bank of India (RBI) deputy governor Michael Debabrata Patra wrote in the minutes of the August meeting of the monetary policy committee (MPC). The statement is significant because it comes at a critical juncture, with the term of the first MPC coming to an end. There is also an ongoing debate on whether inflation-targeting should be the sole function of the next MPC amid the extraordinary growth shock induced by the Covid pandemic.

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