Share Market HIGHLIGHTS: Sensex ends 278 pts up from day’s low, Nifty tops 16,250; M&M, Axis Bank top gainers

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Updated: August 9, 2021 4:10:12 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended the volatile session in green on Monday.

Share Market Today, Share Market LiveNifty Metal, Nifty PSU Bank, and Nifty Realty indices ended in red. Image: Reuters

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in the green post one-day blip on Monday, amid mixed global cues. BSE Sensex ended 125 points or 0.23 per cent at 54,403, while the Nifty 50 index gained 20.05 points or 0.12 per cent to settle at 16,258. M&M, Axis Bank, Tech Mahindra, Bajaj Finserv, IndusInd Bank, ICICI Bank, Titan Company, Infosys were among the top Sensex gainers. On the contrary, Bharti Airtel, Tata Steel, L&T, NTPC, Reliance Industries Ltd (RIL) were among the top index draggers. Nifty Bank index gained 0.6 per cent to end at 36,029. Nifty Metal, Nifty PSU Bank, and Nifty Realty indices ended in red.

 

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    15:58 (IST)09 Aug 2021
    Nuvoco Vistas IPO subscribed 12% so far on day one; grey market premium muted, should you subscribe?

    Nuvoco Vistas Corporation’s Rs 5,000 crore IPO has been subscribed 12% so far on the first day of bidding. The public issue of the Nirma Group company will remain open for subscription till, August 11. Investors can bid for the issue in the price band of Rs 560-580 per share, in a bid lot of 26 shares. Nuvoco Vistas is the fifth largest cement company in India and the largest cement company in East India in terms of capacity. In the unlisted space, the company’s shares were trading at a premium of Rs 15 per share or 3% from the higher end of the price band. Nuvoco Vistas IPO is among the four IPOs that will be available for investors to subscribe to.

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    15:37 (IST)09 Aug 2021
    Sensex ends in green post one-day blip, Nifty tops 16,250

    Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in the green post one-day blip on Monday, amid mixed global cues. BSE Sensex ended 125 points or 0.23 per cent at 54,403, while the Nifty 50 index gained 20.05 points or 0.12 per cent to settle at 16,258

    15:31 (IST)09 Aug 2021
    Covestro quarterly update

    In the second quarter of 2021, Covestro benefited from a continued strong recovery in global demand compared to a weak Q2 2020 as a result of the coronavirus pandemic. The Resins & Functional Materials (RFM) business acquired from DSM effective April 1, 2021, was also consolidated for the first time. As a result, the Group significantly increased its core volumes sold by 35 per cent year-on-year, of which around 10 percentage points are attributable to the initial consolidation of the RFM business. Given the positive business performance, Covestro had already raised its outlook for earnings in 2021. The Group anticipates EBITDA will be EUR 2.7 billion to EUR 3.1 billion on the back of an improved outlook for margins in the second half of the year.

    15:10 (IST)09 Aug 2021
    Recovery in global economy to guide gold prices

    Rising inflation in some countries may force their respective central bank to tighten monetary policy, raise rates. Going forward, the way countries control the spread of new variants of the virus, recovery in the global economy, the pace at which global central banks unwind their easy monetary policy regime will guide gold prices. Nish Bhatt, Founder & CEO, Millwood Kane International - an Investment consulting firm

    15:08 (IST)09 Aug 2021
    Gold prices fall Rs 2,000 in two weeks

    Gold prices have been on a downward trend. It has lost around 1% in today's trade and almost Rs 2,000 in value in the last two weeks. The latest US jobs data released was better than expected. It led to a boost in US Dollar and Treasury yields. A stronger dollar makes gold expensive. The better than expected jobs data also fueled the belief that US Fed may start tightening the monetary policy earlier than expected. High interest rates reduce the appeal for investment in gold. Also, an expectation of a quicker recovery in the US and global economy will reduce uncertainties and thereby investor's appetite for gold. Nish Bhatt, Founder & CEO, Millwood Kane International - an Investment consulting firm

    14:59 (IST)09 Aug 2021
    CarTrade Tech IPO: Issue subscribed 23% so far, grey market premium falls; should you subscribe?

    CarTrade Tech’s Rs 2,999-crore IPO, which opened for subscription today, has received a 23 per cent subscription so far. The offer will be available for subscription till Wednesday, August 11, 2021. The public issue of this online auto classified platform is entirely an offer for sale (OFS) of 1.85 crore equity shares. In the primary market, the premium in CarTrade Tech has fallen to Rs 310, from Rs 700, last week, following the weak listings of Glenmark Life Sciences and Rolex Rings.

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    14:44 (IST)09 Aug 2021
    Chris Wood not giving up on US gold and gold mining stocks; may add Bitcoin holdings if prices fall

    Gold has given up its historic correlation with real interest rates in US dollar terms, moving flat while the real 10-year Treasury yield has declined by 40 basis points since mid-June. However, despite this, Jefferies’ global head (equity strategy) is not giving up on gold and gold mining stocks. “GREED & fear will not give up on gold and gold mining stocks while it is also worth noting that investor positioning favours a rally in gold in the sense that net long positions are rising again,” Chris Wood said in his weekly note.

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    14:44 (IST)09 Aug 2021
    Analyst view on July 2021 AMFI DATA

    This month we seem to have seen record netflows into equity mutual funds considering nearly 27,000 crs inflows into equity and hybrid (non arbitrage) schemes. Over 50% of this is attributable to NFOs as AMCs try to complete their range as per SEBI scheme categorization norms and some more through thematic launches. Momentum continues in passive products albeit led mainly by overseas funds and funds of funds investing overseas. It is heartening to know that after a long hiatus we have seen over 3000 crs net positive flows in balanced advantage and equity hybrid funds which is the right category to allocate to at this juncture in the markets from a risk averse investors perspective. Aashish Somaiyaa, Chief Executive Officer - White Oak Capital

    14:38 (IST)09 Aug 2021
    MCX gold could hover in Rs 45,800- 46,335 range

    Also, RBI’s fifth tranche of the Sovereign Gold Bond(SGB) is starting from today for five days. Issue price for this SGB Scheme 2021-22 is fixed at Rs 4,790 per unit, and a discount of Rs 50 per gram, less than the nominal value has been decided for the investors applying online. It is advised to invest in SGB or any other platform available like ETF or Digital gold based on one’s risk appetite. Broader range on COMEX could be between $1720- 1775 and on the domestic front prices could hover in the range of Rs 45,800- 46,335. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

    14:37 (IST)09 Aug 2021
    Gold prices extend fall

    Gold extended its fall, along with silver after a stronger than expected U.S. jobs reported on Friday which fueled the bets that the Fed may start paring back its massive monetary stimulus soon. The dollar and benchmark 10-year Treasury yields jumped after the data, denting non-yielding gold’s appeal. U.S. employers hired the most workers in nearly a year in July and continued to raise wages, giving the economy a powerful boost. Market participants worry that the U.S. economic recovery and rising inflation might spur the Fed to pull back on unprecedented economic support. No major data is expected on the economic calendar today, although U.S. inflation data is scheduled later this week which will be important to watch. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

    14:21 (IST)09 Aug 2021
    SC refuses to entertain pleas of Amazon, Flipkart against CCI probe

    The Supreme Court Monday refused to entertain pleas of e-commerce firms, Amazon and Flipkart, challenging an order permitting the Competition Commission of India to carry out a preliminary investigation into the alleged violation of the competition law. A three-judge bench headed by Chief Justice N V Ramana said that challenging the enquiry is like wanting a notice before the registration of an FIR under the criminal law and asked the e-commerce giants to submit themselves to the probe by the CCI.

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    13:41 (IST)09 Aug 2021
    Nuvoco Vistas IPO opens today; should you subscribe?

    Nuvoco Vistas has reported a tepid rise in topline over the last three years, and negative bottomline for FY19 and FY21. The company has seen a healthy 25% rise in its EBITDA over this period, on the back of improvement in cost efficiency.  Nuvoco Vistas Corporation Ltd., a part of Nirma Group Company, is the fifth largest cement company in India and the largest cement company in East India in terms of capacity. Hence, it enjoys a strong brand value. Nuvoco is currently focussing on increasing its production capacity. It is the fastest-growing cement company in terms of capacity addition on percentage terms with installed capacity doubling over the last 5 years. SEBI registered investment Advisor INDmoney said in a report.

    13:21 (IST)09 Aug 2021
    Buy gold on dips: Axis Securities

    Gold prices continue to face a challenge with further strengthening of the dollar. Rising inflation expectation and improved economic outlook with a pick-up in vaccination for the H2-2021 and view on central banks tapering are the headwinds in the near term which will limit the gold prices. However, gold will continue to be a preferred asset class till uncertainties over the economic recovery remain and will continue to attract investments as a hedge against other asset classes. We continue our Neutral stance on Gold and recommend a ‘Buy-on- Dips’ strategy. Axis Securities

    13:14 (IST)09 Aug 2021
    Gold prices fall over 2.5%

    Gold prices have declined 2.6 percent in the international markets and 2.3 percent on the MCX futures in the time period 18th June to 6th August 2021. The fall in the prices of the yellow metal in the recent weeks is due to combination of factors ranging from increasing cases of COVID-19, delta variant cases, dovish tone by the US FED on tapering the Quantitative Easing, lower bond yields in the US, good non- Farm Payrolls data, and the factors alike. Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking

    12:49 (IST)09 Aug 2021
    Nifty's short-term support at 16,200

    The Indian benchmark is trading with a small positivity and has been constantly able to sustain above the level of 15200 which has strengthened the belief in positivity for investors. Sentiments got a boost as The Confederation of Indian Industry (CII) said that Prime Minister Narendra Modi's objective of $400 billion in exports this year is realistic, given the current global condition of post-pandemic economic recovery and increased competitiveness of Indian goods. Our research suggests that 16200 is an important support level for the market in the short term and we can expect the volatility in the market to expand and attain new levels of 16500. Gaurav Garg, Head of Research, CapitalVia Global Research

    12:33 (IST)09 Aug 2021
    Should you subscribe to Chemplast Sanmar?

    Considering the FY-21 adjusted EPS of Rs.25.95 on the post-issue basis, the company is going to list at a P/E of 20.85 with a market cap of Rs.85,537 mn, while its peers namely PI Industries and SRF are trading at a P/E of 61.16 and 37.26 respectively. We assign a “Subscribe (With Caution)” rating to this IPO as the company is well-positioned to capture favourable industry dynamics. However, the negative net asset value along with higher trade payable days keeps us cautious from a longer-term perspective. Marwadi Shares and Finance

    12:06 (IST)09 Aug 2021
    Zomato near-term growth overestimated? HSBC initiates with ‘reduce’; sees 15% downside in stock price

    Zomato’s share price has soared 71% from its IPO price within weeks of listing on the stock exchanges. Although many domestic and foreign brokerage firms believe Zomato’s stock price could surge higher, HSBC has initiated its coverage of the food-tech giant with a ‘reduce’ rating. HSBC, in a report last week, said that the food delivery industry in India is about an important change to the product itself --  from homecooked to restaurant food. “Which is why we think, while the long-term opportunity is real, the market may end up over-estimating growth in the near term,” they added. Today, Zomato is trading at Rs 130 per share.

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    11:37 (IST)09 Aug 2021
    Devyani International IPO share allotment: Check status online; Pizza hut, KFC operator’s grey market premium

    Devyani International, whose Rs 1,838-crore IPO received a whopping 116.71 times subscription, is likely to finalise share allotment on Wednesday, 11 August 2021. In the primary market, Devyani International, the largest franchisee of Pizza Hut, KFC, and Costa Coffee, shares were quoting at a premium of Rs 61, over the IPO price of Rs 90 apiece. Devyani International shares were trading at Rs 151 apiece in the grey market, a 68 per cent premium over the issue price, according to the people who deal in unlisted shares of the companies.

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    10:55 (IST)09 Aug 2021
    Should you subscribe Nuvoco?

    We like NVCL due its leadership position in fast growing East market, wide premium product portfolio and ability to successfully integrate large acquisitions. The issue is valued at USD146 FY21 EV/ton (USD) and 16.6x EV/EBITDA on post issue basis, which is at discount to industry average given slightly weaker financials. As NVCL has a short history of existence, we believe it has potential to improve its financials in the long run and come at par to its peers as operating leverage kicks in. It is expected to witness strong growth going ahead led by its expansion plans, integration of NU Vista and debt reduction. We recommend Subscribe for Long Term. Motilal Oswal Financial Services

    10:18 (IST)09 Aug 2021
    Nifty needs to hold above 16,300

    "The Nifty has opened smartly and is trading above the 16300 level. We need to keep above this level for the markets to scale up higher to 16500-16600 which is the next target for the index. The support for the week has been updated to 16050-16100 and as long as this does not break on a closing basis, the trend is positive and intraday dips can be utilized to accumulate long positions," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

    09:55 (IST)09 Aug 2021
    Rolex Rings shares list with gains; stock debuts at 39% premium to IPO price

    Shares of Rolex Rings opened to trade at Rs 1,249 per share, up 39% or Rs 349 per share from the IPO price of Rs 900 per share. The IPO of the automotive components manufacturer was subscribed a massive 130 times by investors last month. Rolex Rings’ Rs 731 crore IPO was a mix of fresh issue of equity shares worth Rs 56 crore while the remaining Rs 675 crore was an offer for sale (OFS) by existing shareholders. On listing the company had a market capitalization of Rs 3,401 crore.

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    09:43 (IST)09 Aug 2021
    74.40-74.50 levels will act as an important resistance for USD-INR

    The IPO fever continues to buzz with Nuvoco Viastas' Rs 5000 cr, CarTrade Rs 3000 cr, Aptus Value Housing Rs. 2800, and Chemplast Sanmar Rs.3800cr likely to hit markets this week. It will be watchful whether RBI shows any intervention downside to cap sharp gains in rupee. If so, any dip on account of inflows should be taken as a buying opportunity amid broad dollar strength. Going ahead, India’s Industrial Production for June and CPI inflation for July will keep markets on edge especially after the RBI increased its FY22 inflation forecast to 5.7% from 5.1% earlier. Technically, for dollar-rupee pair 74.40-74.50 levels will act as an important resistance to watch for. If the pair breaks and consistently trades above 74.40-50 levels, then the rupee is most likely to move near 74.80-90 levels in the near term and then towards 75.30-75.50 levels in the medium term. Amit Pabari, MD, CR Forex Advisors

    09:39 (IST)09 Aug 2021
    Gold may remain under pressure as market reacts to US non-farm payrolls report

    COMEX gold witnessed a volatile start to the week. Price hit a session low of $1677.9/oz and is currently trading 1.4% lower near $1738/oz. The snap reaction can be attributed to lower trading volumes amid holidays in Japan, Singapore. Weighing on gold price is increased expectations of Fed’s monetary tightening post US non-farm payrolls data and some hawkish comments by Fed officials. ETF outflows also show weaker investor interest amid continuing firmness in equities. However, rising virus cases and increased geopolitical tensions have lent some support. Gold may remain under pressure as market players react to US non-farm payrolls report. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research, Kotak Securities

    09:36 (IST)09 Aug 2021
    Bank Nifty gains 0.5%

    Bank Nifty was up nearly half a per cent and Nifty Auto surged one per cent. On the flip side, Nifty Metal fell 0.75 per cent and Nifty Pharma 0.4 per cent

    09:34 (IST)09 Aug 2021
    RIL, Kotak Bank to Sensex losers

    Reliance Industries Ltd (RIL), Dr Reddy's, Kotak Mahindra Bank, Sun Pharma and HDFC Bank, were top index losers.

    09:33 (IST)09 Aug 2021
    M&M, Titan Company top Sensex gainers

    M&M, Titan Company, Tech Mahindra, Bajaj Finserv, IndusInd Bank, Asian Paints were among top BSE Sensex gainers

    09:30 (IST)09 Aug 2021
    Nifty in 16238-16174 range could present bulls with opportunity to regroup

    An evening star candlestick formation in hourly charts has forced a turn lower confirming a mean reversion move, that could stretch as far as 16033. However, the 16238-16174 region could present bulls with an opportunity to regroup and arrest the bearish momentum. But, even in such scenario, directional upsides rise may have to wait, as a broadening wedge pattern is probably information. Anand James, Chief Market Strategist, Geojit Financial Services

    09:26 (IST)09 Aug 2021
    Nifty may hit 16,600, Bank Nifty may rally to 36,600 in coming weeks; Airtel, TCS, Tata Motors top bets

    Going ahead, we expect index to extend its northbound journey and gradually head towards our revised target of 16600 in the coming month as it is 138.2% extension of mid June rally (15450-15915) projected from June high of 15915 is placed at 16575. Thus temporary breather from here on should be capitalised to accumulate quality stocks amid progression of Q1FY21 result season

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    09:21 (IST)09 Aug 2021
    Nifty reclaims 16,300, Sensex up over 150 pts

    BSE Sensex jumped 183 points or 0.34 per cent to 54,460, while the Nifty 50 index crossed 16,300 

    09:06 (IST)09 Aug 2021
    Gold, silver prices fall on fear of FED tapering; expect bullion rates to slide this week

    Commodity prices traded lower with most of the commodities in the non-agro segment witnessed sell-off following dollar rally. Bullion prices recorded the worst day on Friday extending the weekly decline post US payroll data. Crude oil prices reported worst weekly decline in nine months while base metals followed weak global cues on-demand growth concerns. 

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    09:03 (IST)09 Aug 2021
    Nifty to rally if it holds above 16,350, Bank Nifty may head to 36,800; TCS, Lupin stocks in focus

    Nifty closed at 16238 with a gain of 475 points on a weekly basis. On the weekly chart the index has formed a long bullish candle forming higher High-low compared to previous week and has decisively broken out its past two months multiple resistance zone of 15900 levels on a closing basis. The index is moving in a Higher Top and Higher Bottom formation on the weekly chart indicating a sustained uptrend.

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    08:44 (IST)09 Aug 2021
    Petrol and diesel price today 9 August 2021: Rates steady for 23rd 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 twenty-third 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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    08:18 (IST)09 Aug 2021
    Buy these 2 stocks for gains; Nifty to face resistance at 16500, support placed at 15950

    Benchmark Index traded in a narrow range of 15550 and 15950 levels for almost eight weeks and formed a channel pattern on the daily time frame. The index finally broke its consolidation range on the higher side and witnessed a channel pattern breakout on 3rd August and registered a lifetime high 16349.45 levels on August 5. Nifty 50 has given a 3.01 per cent returned on the weekly chart, which indicates a very strong consolidation breakout.

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    08:11 (IST)09 Aug 2021
    Nuvoco Vistas garners Rs 1,500 cr from anchor investors ahead of IPO

    Cement manufacturer Nuvoco Vistas Corporation Ltd, part of the Nirma Group, has raised Rs 1,500 crore from anchor investors ahead of its initial share sale, which opens for public subscription on Monday.

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    08:10 (IST)09 Aug 2021
    Sensex, Nifty may mirror global markets; 5 things to know before today’s opening bell

    Domestic equity benchmark indices enter this week’s first trading session on the back of more than 2% gains in the previous week. S&P BSE Sensex currently sits at 54,277 while the NSE Nifty 50 index is at 16,238. Bank Nifty is sitting below 36,000 mark while the India VIX is above 12.5 levels. SGX Nifty was down in the red on Monday morning, hinting at some negative momentum ahead of the day’s trading session.

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    08:05 (IST)09 Aug 2021
    Dow Jones, S&P 500 post record closing highs on Friday

    In overnight trade on Wall Street, the Dow and the S&P 500 indices closed at record highs on Friday. The Dow Jones Industrial Average rose 0.41 per cent, the S&P 500 gained 0.17 per cent, while the Nasdaq Composite dropped 0.4 per cent.

    08:04 (IST)09 Aug 2021
    Asian stock markets trade flat

    Asian share markets were trading flat in early trade on Monday. Stock markets in Japan and Singapore were closed for holidays. Australian stock market benchmark ASX 200 rose marginally. South Korea’s Kospi index fell nearly half a per cent.

    08:03 (IST)09 Aug 2021
    Rolex RIngs IPO shares listing today

    Rolex Rings, whose Rs 731-crore IPO got over 130 times subscription, will make its stock market debut on Monday, 9 August 2021.

    08:02 (IST)09 Aug 2021
    CarTrade IPO opens Aug 9, grey market premium soars 43%; check price band, IPO size, bid details

    CarTrade Tech’s Rs 2,999-crore IPO will open for subscription on 9 August 2021, at a price band of Rs 1,585-1,618 per share of face value of Rs 10 each. The bidding for anchor investors will open on Friday 6 August. The public issue of this online auto classified platform will be entirely an offer for sale (OFS) of 1.85 crore equity shares. Read full story

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