Market HIGHLIGHTS: Sensex ends flat, Nifty holds above 11,300; SBI, HCL Tech jump over 4%, Kotak Bank down 2%

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Updated: August 12, 2020 4:24:38 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks Sensex and Nifty settled flat in Wednesday's trade. State Bank of India and HCL tech share prices jumped over 4 per cent each

Share Market Today, Share Market LiveSectoral indices settled mixed today. Nifty PSU Bank, Nifty Auto jumped over 2 per cent

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended flat with a negative bias on Wednesday. The 30-share Sensex ended 37 points or 0.10 per cent down at 38,369, while the broader Nifty 50 index settled 13 points or 0.12 per cent lower at 11,308. Out of 30 Sensex stocks, 17 scrips ended in the negative territory, with Kotak Mahindra Bank shares falling the most. The private lender was followed by Sun Pharma, Bajaj Finserv, L&T, Bajaj Finance, Titan Company and TCS. On the other hand, HCL Tech hit a fresh 52-week high in intraday trade. State Bank of India (SBI) shares surged 4.23 per cent to end at Rs 203.35 apiece. Tech Mahindra, Maruti Suzuki, Power Grid Corporation of India, Bajaj-Auto and Infosys were among top Sensex gainers. Sectoral indices settled mixed today. Nifty PSU Bank, Nifty Auto jumped over 2 per cent while Nifty Pharma index fell 1.5 per cent.

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    15:50 (IST)12 Aug 2020
    Forex market players eyeing on virus vaccine, economic data, US stimulus

    Indian rupee erased Tuesday’s gain following recovery in dollar and US treasuries. Risk-averse sentiment seen on uncertainty over US stimulus. Rupee expected to remain in a tight range of 74.50 to 75.50 amid a mixed signal from economic data and fund flows. The more ‘risk-off’ mood in markets has helped the US dollar to rise against both the euro and sterling. Forex market players are eyeing on three things virus vaccines, economic data and US stimulus: Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities

    15:48 (IST)12 Aug 2020
    Pick of the stocks remains SBI due to breakout from consolidation

    Pick of the stocks remained SBI due to breakout from consolidation and HCL Tech for hitting new 52 week high. Market breadth remained strongly in favor of Bulls. For five gainers, there were three losers. There are expectations of a good announcement on taxation, Healthcard, New FDI announcement and dedicated financial institution for infrastructure funding. Going forward, major support will be seen around 11110 and resistance will be 11380-11420: Vishal Wagh, Head of Research, Bonanza Portfolio Ltd

    15:37 (IST)12 Aug 2020
    Closing bell: Sensex, Nifty end flat on Wednesday

    BSE Sensex ended 37 points or 0.10 per cent down at 38,369, while the broader Nifty 50 index settled 13 points or 0.12 per cent lower at 11,308.

    15:30 (IST)12 Aug 2020
    Now Reliance JioMart announces its grocery sale with “loads of offers” on these five days

    After Amazon, Flipkart, BigBasket and Grofers, Reliance JioMart is also preparing to host its online sale event – first ever since its beta launch in May. Mukesh Ambani’s online grocery venture JioMart will organize its five-day sale, as part of Independence Day offerings following Reliance Digital’s Digital India Sale, from August 15 to August 19. “India’s Biggest Grocery Sale, JioMart ka Full Paisa Vasool sale is coming soon.

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    15:10 (IST)12 Aug 2020
    Shree Cement share price rallies 40% since April; what should investors do after Q1, buy, sell or hold?

    Coronavirus lockdown affected Shree Cement’s Indian operations in the April-June quarter, dragging down the company’s on-year net profit to Rs 330 crore. Cement maker had posted a profit of Rs 382 crore in the corresponding quarter of the preceding year. Shree Cement in a statement said that the company’s Indian operations were partially affected due to lockdown announced on account of COVID-19 pandemic by state and central government.

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    14:58 (IST)12 Aug 2020
    Are you an honest taxpayer? PM Modi to give honours for pushing tax reforms journey

    Going ahead with a Budget announcement pertaining to ‘taxpayer charter’, Prime Minister Narendra Modi is all set to launch a platform for honouring the country’s honest taxpayers on Thursday. “The upcoming launch of the platform for ‘Transparent Taxation — Honoring the Honest’ by the Prime Minister will further carry forward the journey of direct tax reforms,” the Finance Ministry said in a statement on Wednesday

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    14:40 (IST)12 Aug 2020
    Motherson Sumi share price doubles since March, and continues to soar; should you buy the stock now?

    Beaten down by the bloodbath that equity markets witnessed in March, Motherson Sumi Systems shares have managed to surge over 110% from their lows on the back of strong fundamentals and resilient outlook. The stock was seen jumping over 6% to trade at Rs 115 per share on Wednesday. Motherson Sumi, an auto part manufacturer reported a consolidated net loss of Rs 1,191 crore in the April-June quarter as revenue from sale of product halved from the previous year. Most analysts had predicted that this mid-cap stock would soon recoup most losses and after doing exactly that, brokerages are still bullish on the stock. 

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    14:16 (IST)12 Aug 2020
    Gold, silver prices witness huge swings as equities back in vogue

    Gold and silver prices are witnessing huge swings as equities back in vogue, rebound witnessed in US yields from the lows, positive US economic data, stronger dollar are some the reasons which contributed in the bullion's steep fall in the yesterday’s session. Apart from all this, market participants also cheered as Russia became the first country to announce a Covid-19 vaccine, even though phase 3 trials are going on but the results look quite promising. Market participants will keep an eye on the industrial production data and inflation data from major economies; which if reported better than expectations, it could give further volatility to the metals. SPDR holdings fell 0.3% to 1,257.93 tonnes on Tuesday. Broader trend on COMEX could be in the range of $1920-1970 and on domestic front prices could hover in the range of Rs 51,500- 53,500: Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

    13:46 (IST)12 Aug 2020
    MCX gold drops nearly 10% this week

    This week has been very indecisive for USDINR spot. For now, the risk-off mood ahead of US-China trade talks is keeping the spot afloat. Despite the ongoing US-China geopolitical tensions, this week MCX gold has dropped by nearly 10% due to delay in US fiscal stimulus. But there is enormous uncertainty and it will get harder as we near the US election phase. So we may see safe-haven demand boosting up and gold prices bottoming out around Rs 49000/10 gm and back towards Rs 54000-55000/10 gm. In USDINR spot unless 74.60 doesn't break on the downside, we expect USDINR spot to trade towards 75.20 level in coming sessions: Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

    13:42 (IST)12 Aug 2020
    Long term share market investment: Keep 10-15 stocks in portfolio to make money

    As an investor, the most challenging aspect of investing in equity markets is getting the timing right. Retail investors with limited resources often struggle to time their buys and sells correctly. What makes matters worse is that there are so many forces at play – business cycles, economic cycles, liquidity and news flow. So much is going around that it is almost impossible to separate the wheat from the chaff.

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    13:05 (IST)12 Aug 2020
    Shree Cement: Margin cools off as volumes fall sharply

    We expect Shree Cement’s volume to decline 12% in FY21E, followed by 15% rebound in FY22E. Despite lower sales, we expect unitary EBITDA to expand during FY21E, on stable realisation and lower pet coke/coal prices. We maintain our estimates and our REDUCE rating on the stock. Our target price of Rs 20,900/share is SOTP-based. We value SRCM’s standalone cement/power businesses at 16.5/5x Jun’22E respectively and its UAE subsidiary at 1x BV: Rajesh Ravi, Institutional Research Analyst, HDFC Securities

    12:42 (IST)12 Aug 2020
    SBI shares gain 4% after failing to impress for months

    Share price of India's largest public sector lender State Bank of India  gained over 4% on BSE Sensex after failing impress investors for months. The stock wass trading at Rs 203 per share.

    12:39 (IST)12 Aug 2020
    Emkay Global Financial Services appoints Nirav Sheth as the CEO of Emkay Institutional Equities

    Emkay Global Financial Services Limited, a leading financial services group, today announced the appointment of Mr. Nirav Sheth as the Chief Executive Officer of Emkay Institutional Equities with immediate effect.  At Emkay, Nirav will spearhead the entire Institutional Equities team.

    12:15 (IST)12 Aug 2020
    HAL share price hits fresh 52-week high on approval of equipments acquisition worth Rs 8,722 cr

    Hindustan Aeronautics Ltd (HAL) share price surged over 10 per cent to hit a fresh 52-week high of Rs 1,126 apiece, a day after the Ministry of Defence approved the capital acquisitions of various platforms and equipment worth Rs 8,722.38 crore required by the Indian Armed Forces.

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    12:05 (IST)12 Aug 2020
    Sensex, Nifty trim morning losses but still trade in red

    BSE Sensex was trading 80 points or 0.21 per cent down at 38,327, while the broader Nifty 50 index was ruling at 11, 294, down 25 points or 0.22 per cent in noon deals.

    Check live Sensex, Nifty levels

    11:58 (IST)12 Aug 2020
    Elon Musk keeps his Twitter promise, splits Tesla stock to attract more retail investors

    Elon Musk’s Tesla will split its shares after the stock surged 500% in the 12 months, making it the world's most valuable automaker. Tesla said that its Board of Directors has approved and declared a five-for-one split of Tesla’s common stock in the form of a stock dividend to make stock ownership more accessible to employees and investors. Recently, retail investors have piled up on stocks and Tesla has been at the receiving end of the spiked interest from such investors. In July, Elon Musk was seen replying to Twitter users that he would consider discussing a stock split at the annual shareholders meeting. 

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    11:33 (IST)12 Aug 2020
    Taxing foreign digital companies: India must take cue from Europe; consider narrowing scope of Digital Tax

    Internationally, the widespread growth in digitisation of business has created challenges in allocation of taxes between market jurisdictions and countries where these companies are headquartered. It is widely perceived that large digital companies pay inadequate corporate tax in countries from where they receive major revenue share. 

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    11:06 (IST)12 Aug 2020
    Gold prices crash to below Rs 50,000 per 10 gm today; continue to fall for 3rd day in a row

    Extending the losses from the previous sessions, gold prices fell nearly Rs 2,000 per 10 grams on Wednesday. From an all-time high of Rs 56,191, gold prices have climbed off Rs 6,236, breaching the Rs 50,000-mark on the downside. Gold prices were seen below Rs 50,000 last time on July 21. With today’s crash in the prices, it is the third consecutive fall today, mirroring the plunge in international rates.

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    10:29 (IST)12 Aug 2020
    Adani Ports & SEZ shares: Buy or Sell? Stock zooms almost 4% despite falling profits

    Adani Ports & SEZ’s 26% dip in net profit did not deter the share price from surging 3.7% on Wednesday morning to trade at Rs 347 apiece, when benchmark indices were seen slipping into the red. The Marine and Port Services company’s dip in net profit was better than many had expected on Dalal Street. The April-June quarter witnessed lockdowns at various levels to tame the spread of coronavirus, hitting business revenues. Adani Ports & SEZ has, however, reported a steady increase in  throughput across Ports from July. Brokerage firms are upbeat on the stock, with some even increasing their target price.

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    10:07 (IST)12 Aug 2020
    RIL, HDFC Bank push Sensex off 5-month high; these factors dragging markets down today

    Snapping the gaining streak, BSE Sensex and Nifty 50 slipped half a per cent down on Wednesday, climbing off the 5-month peak. Sensex was down 140 points or 0.37 per cent to trade at 38,264, while the broader Nifty 50 index fell 45 points or 0.40 per cent to rule at 11,277. Index heavyweights such as HDFC Bank, Kotak Mahindra Bank, Reliance Industries (RIL), Infosys and L&T contributed the most to the indices’ losses.

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    09:51 (IST)12 Aug 2020
    Tata Realty not buying into Work From Home culture; planning for a massive office space portfolio

    Tata Realty is planning to build a strong office space portfolio. Its plans are in stark contrast to the rather bleak outlook on office real estate right now, given that more and more companies are willing to make work from home (WFH) a permanent feature, thus impacting office space demand.

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    09:36 (IST)12 Aug 2020
    Top BSE Sensex gainers and losers

    Bajaj Finance, Bajaj Finserv, Sun Pharma, LT, IndusInd Bank and Axis Bank were top Sensex laggards in the opening trade. On the flip side, State Bank of India (SBI), Maruti Suzuki, M&M, Bharti Airtel and TCS were among the top Sensex gainers.

    09:34 (IST)12 Aug 2020
    Adani Ports and Special Economic Zone share price up over 2%

    Adani Ports and Special Economic Zone share price gained over 2 per cent to Rs 346 apiece after its board approved a proposal to raise up to Rs 3,000 crore through issuance of non-convertible debentures (NCDs). The fund will be raised in one or more tranches.

    Check live prices: Adani Ports and Special Economic Zone

    09:27 (IST)12 Aug 2020
    Sensex, Nifty open lower; follow global markets

    The 30-share Sensex slipped 250 points or 0.65 per cent to trade at 38,157, while the broader Nifty 50 index was testing 11,250, down 70 points or 0.61 per cent.

    Check live Sensex, Nifty levels

    09:08 (IST)12 Aug 2020
    Stocks in focus: IRCTC, HDFC, Wipro, Ashoka Buildcon, IndusInd Bank, defence, aerospace stocks

    Ashok Leyland, Tata Power, Aurobindo Pharma, Bharat Forge, Century Plyboards, Cummins India, Graphite India, GSFC, Gulf Oil Lubricants, Natco Pharma, NCC, Sundram Fasteners, Transport Corporation of India, are among 137 companies that are scheduled to announce their quarterly earnings today.

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    08:35 (IST)12 Aug 2020
    Sensex, Nifty stare at negative start; 6 things to know before the opening bell today

    Sensex and Nifty stare at a negative start on Wednesday with SGX Nifty trading down over 100 points. Equity markets enter Wednesday's trading session on the back of a four-day gaining streak. Sensex ended higher by 224 points on Tuesday while the Nifty 50 index breached the 11,300 mark. The recent surge in stock markets has been partly aided by the United States considered lowering taxes on capital gains. Analysts believe that domestic stock markets could rise further in the coming session, however, profit booking can not be ignored.

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    08:28 (IST)12 Aug 2020
    Gold, silver may start weak today

    International gold and silver prices were weighed down after news agencies reported that Russia had become the first country in the world to grant regulatory approval to a COVID-19 vaccine. Reflecting sentiments, SPDR Gold ETF Trust fund said its holdings fell 0.3% to 1,257.93 tonnes on Tuesday. However, the downside was limited amid weak risk appetite as impasse between the US lawmakers on the stimulus continued to roll on with no word on when talks on a new package might resume. International gold and silver started weak this Wednesday morning in Asian trade. Domestic bullion could start weak this Wednesday morning tracking weak futures prices. Technically, MCX gold could start a gap down tracking weak overseas prices. Resistance holds at 52000-52350 level and Support is at 50700-49550 levels: Sriram Iyer, Senior Research Analyst at Reliance securities.

    08:20 (IST)12 Aug 2020
    US stocks snap 7-day winning streak

    In overnight trade on Wall Street, the S&P 500 and Dow snapped seven-day gaining streak over uncertainty in the US fiscal stimulus measures. The Dow Jones Industrial Average fell 0.38%, the S&P 500 lost 0.80%, and the Nasdaq Composite dropped 1.69%.

    08:20 (IST)12 Aug 2020
    Asian peers trade weak

    Asian stock markets were seen trading lower in the early trade on Wednesday. The Shanghai Composite fell nearly 1%, while the Shenzhen composite was down 0.52%. Hong Kong’s Hang Seng index dropped 0.79%

    08:19 (IST)12 Aug 2020
    SGX Nifty down over 100 pts in early trade

    Nifty futures were trading 112.50 points or 0.99 per cent down at 11,235.50 on Singaporean Exchange, suggesting a weak start for BSE Sensex and Nifty 50 on Wednesday.

    08:19 (IST)12 Aug 2020
    RIL grabs highest spot on Fortune 500 list by any Indian company; breaks into top 100 global firms

    Mukesh Ambani’s Reliance Industries has jumped 10 places to break into the world’s top 100 companies on the Fortune Global 500 list. Reliance had broken into the top 100 in 2012 ranking when it was ranked 99th but slipped in subsequent years to rank 215th in 2016. Since then it has risen steadily, according to the ranking. Read more

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