Market Highlights: Nifty ends below 11,200, Sensex dives 600 pts from days high; financial stocks bleed

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Updated: August 14, 2020 4:20:21 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 erased all gains to end over 1% lower.

Share Market Today, Share Market LiveOnly Nifty Pharma and Nifty Metal ended with gains among sectoral indices.

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 erased all gains and tanked deep into red on Friday. S&P BSE Sensex slipped 433 points or 1.13% at 37,877 points. The 50-stock Nifty gave up the 11,200 mark. Volatility climbed as high as 7% in the dying hours of trade. Only Sun Pharma, NTPC, Tata Steel, Titan, and Infosys ended with gains while all other BSE Sensex constituents ended in the red. Axis Bank and State Bank of India were down close to 3% each. All Nifty sectoral indices, except Nifty Metal and Nifty Pharma ended with losses.

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Highlights

    16:19 (IST)14 Aug 2020
    Sensex, Nifty extend losses to third day; Axis Bank, SBI top drags as volatility haunts Dalal Street

    Extending their losing streak to the third day, both Sensex and Nifty ended this week’s last trading session down by over 1%, each. S&P BSE Sensex slipped 433 points or 1.13% at 37,877 points. The 50-stock Nifty gave up the 11,200 mark. Factors that fuelled the crash included a delay in the stimulus that the United States government is planning. Along with that, market participants have been warning since the end of last week that valuations have been good enough for investors to book profits now. Bank stocks were the biggest drags on Sensex. 

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    15:22 (IST)14 Aug 2020
    BSE signs MoU with Gujarat Student Startup and Innovation Hub

    BSE, India’s premier exchange and the world’s fastest Stock Exchange with a speed of 6 microseconds has signed a Memorandum of Understanding (MoU) with Gujarat Student Startup and Innovation Hub (i-Hub)  (Government of Gujarat) to encourage and support startups in raising capital, besides offering multiple benefits in terms of gaining visibility, branding, credibility and unlocking the value.

    15:11 (IST)14 Aug 2020
    Indian Bank quarterly results

    Total income for Q1 FY21 of the Bank grew by 8% to Rs. 11447 Cr from Rs.10580 Cr in Q1 FY20 Net interest income grew by 17 % to Rs. 3874 Cr as against Rs.3316 Cr in Q1 FY20 Other income increased by 19% to Rs.1327 Cr as against Rs.1119 Cr in Q1 FY20Operating Profit grew by 23 % to Rs. 2753 Cr for the Q1 FY21 as against Rs.2234 Cr for Q1 FY20Net Profit stood at Rs. 369 Cr as against Rs.492 Cr for the combined entity in Q1 FY20.

    15:02 (IST)14 Aug 2020
    Bank stocks in focus

    Axis Bank was the top loser on Sensex followed by State Bank of India. While ICICI Bank and HDFC Bank were both the biggest index contrbutors pulling the equity benchmark indices lower. 

    14:26 (IST)14 Aug 2020
    Bloodbath on Dalal Street, indices tank over 1% each

    Sensex dived close to 600 points in the dying hour of Friday's trading session. Banking and finance stocks were the top drags with Axis Bank and SBI being the top losers. Nifty was below the 11,150 mark.

    14:04 (IST)14 Aug 2020
    Equity markets give up gains

    Stock markets gave up all gains and tanked deep into the red on Friday monrning. Sensex slipped over 300 points while Nifty 50 was below the 11,200 mark.

    13:22 (IST)14 Aug 2020
    Apt time to invest in gold, prices may surge 10-12% more in coming months

    Indians’ love affair with gold goes beyond the usual perception of the yellow metal in other parts of the world, where it is seen widely as an investment option. For millennia, gold has held a special place in Indian families, as an auspicious and ornamental asset. This sentiment continues to dominate the buyers’ mindset to this day.

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    12:54 (IST)14 Aug 2020
    Global High Frequency Activity Tracker : Morgan Stanley

    In India and Brazil,electricity demand has marked 2and 3consecutive weeks of YoY growth now. Retail sales in Brazil has also jumped to over 100% of pre Covid-19 levels in June,up from the trough of 81% in April. In Russia, SME activity has recovered to February levels while consumer spending measured by Sberbank is now contracting by 3% YoY after having contracted by more than 30% at its trough.

    12:42 (IST)14 Aug 2020
    India’s share market headed for bull run but will it last many years like 2003? Bernstein explains

    Bernstein, in a note, said that currently everything is weak. Drawing an analogy between now and what the situation was almost two decades ago, the note added that macro was weak for several years back then, starting from financial year 1997, banking NPAs were high, and real estate was in a downturn, followed by a weak rural economy on the back of lesser rainfall — situations India is facing now too. Bernstein noted that shortcomings were tackled by various reforms back then. “It was the convergence of several factors that helped fuel a long macro up-cycle which ended post the global financial crisis,” it said.

    12:24 (IST)14 Aug 2020
    July WPI comes in at -0.58%

    The annual rate of inflation, based on monthly Wholesale Price Index, stood at (-0.58%) (provisional) for July 2020 as compared to 1.17% in the corresponding period of the previous year i.e July 2019.

    12:18 (IST)14 Aug 2020
    Eicher Motors share price falls 4.5% on weak quarter earnings as COVID-19 lockdown hit sales

    Eicher Motors shares dropped 4.5 per cent to Rs 20,686.05 apiece after the company reported a consolidated net loss of Rs 55 crore for the April-June quarter as sales were adversely hit due to COVID-19 pandemic. The company had registered a net profit of Rs 452 crore in the same period a year ago

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    12:02 (IST)14 Aug 2020
    Mutual funds sold RIL shares in July; SBI, HDFC, ICICI, other funds bought these stocks instead

    The Mutual Fund industry saw outflows from the equity funds for the first time in four years as investors pulled out Rs 2,480 crore. Analysts believe it was largely a month when investors booked profits as the stock markets have recouped most of the losses incurred in March. Amid such trends, some of the biggest asset management companies in India either sold some part of their top holdings or opted for the status quo. Interestingly almost all the top mutual fund houses trimmed their stakes in Mukesh Ambani’s Reliance Industries Ltd after it soared to touch record highs, according to data sourced by ICICI Direct. Here’s what stocks were bought and sold.

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    11:36 (IST)14 Aug 2020
    Buy Hero MotoCorp shares

    Hero MotoCorp reported 18% decline in its domestic volume in FY20. We expect the slowdown to continue over the next 1-2 quarters, however the pace of slowdown would reduce gradually. We believe that the industry would witness sequential as well as YoY improvement in 2HFY21E.In view of expected rural revival in 2HFY21E, increasing usage of 2Ws due social distancing norm and HMCL’s strong market position to capitalize the demand recovery, we have a positive view on the stock and we maintain BUY rating on HMCL: Mitul Shah, Vice President (Research) at Reliance Securities

    11:35 (IST)14 Aug 2020
    Worst is over for Tata Steel as global steel demand likely to improve

    Tata Steel reported a 32.4% YoY degrowth in consolidated revenues to ₹24,288 crore for Q4FY20, as compared to revenues of ₹35,947 crore for Q4FY19. Sales volume for the quarter was down by 22.2% YoY to 4.93mn Tons while production was down by 28.1% YoY to 5.14mn Tons. EBIDTA for the quarter stood at ₹505.5 crore down 90.6% YoY while EBIDTA margins contracted by 12.9 percentage points 2.1%. Though the company reported a greater than expected loss for the quarter it seems that the worst is over for the company as global steel demand is expected to improve gradually from here on as economic activity recovers with relaxation in mobility restrictions and policy stimulus: Jyoti Roy, DVP- Equity Strategist, Angel Broking Ltd

    11:07 (IST)14 Aug 2020
    Gold prices today again slip, remain below Rs 53,000 per 10 gm; investors watching US-China trade talks

    Gold prices were trading lower in the domestic market on Friday as traders booked profit in the yellow metal. Investors are still awaiting a breakthrough on another US stimulus package and keeping a watch on US-China ties ahead of trade talks on August 15. On MCX, gold October futures were trading Rs 300 or 0.57 per cent down at Rs 52,630 per 10 grams, while silver September futures were ruling at Rs 70,370 per kg, down Rs 707 or 0.99 per cent.

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    10:43 (IST)14 Aug 2020
    Ashok Leyland shares surge over 24% this week, on strong demand revival outlook; should you buy?

    Shares of Ashok Leyland surged 4.5% as the stock market began trading on friday, to trade at Rs 64 per share. The auto manufacturer that specialises in commercial vehicles has seen its shares jump over 24% so far this week, despite posting a net loss of Rs 389 crore in the first quarter of this fiscal year. Ashok Leyland is expected to recover smartly by the last quarter of this fiscal year or by the first quarter of the next one. Another factor aiding Ashok Leyland’s rally is the favourable news flow around the private sector players in the defence equipment manufacturing segment.

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    10:27 (IST)14 Aug 2020
    Govt wants RBI help again to fill budget gap, but even RBI money may not help cover revenue shortfall

    India’s Finance Minister Nirmala Sitharaman can expect another payout from the central bank in coming weeks, but it’s unlikely to plug a huge government revenue hole created by the pandemic. The Reserve Bank of India’s board, led by Governor Shaktikanta Das, is meeting Friday, and since August is typically the month the central bank makes its annual transfer to the government, expectations are running high that the RBI will disclose its dividend payout.

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    10:12 (IST)14 Aug 2020
    Nifty reclaims 11,350, RIL, HUL lift Sensex 150 pts; key things from today's trade

    Following a rangebound trade in previous two sessions, BSE Sensex and Nifty 50 opened half a per cent higher on Friday. The 30-share index Sensex was trading over 160 points or 0.44 per cent higher at 38,479, while the broader Nifty 50 index was ruling at 11,349, up 48 points or 0.43 per cent. Index heavyweights such as Reliance Industries (RIL), Larsen & Toubro, Infosys, ICICI Bank and TCS were among the top index contributors. Ahead of Supreme Court hearing on telecom AGR dues, Bharti Airtel shares were trading in the positive territory.

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    09:54 (IST)14 Aug 2020
    RBI may announce a special OMO to address nervousness in bond market

    India July CPI came in higher than expected at 6.93% against expectations of 6.25%. We may see some further paying in OIS and selling in bonds as markets would price out expectations of more accommodation from RBI. However, the higher print was primarily on account of higher food prices and with normal monsoons and a good Kharif harvest we may see inflation cool off in H2FY21. The RBI may announce an OMO or a special OMO (Operation Twist) to address nervousness in the bond market: Abhishek Goenka, Founder and CEO, IFA Global

    09:41 (IST)14 Aug 2020
    Rupee likely to open on a flat note

    The Indian rupee is expected to open on a flat note and trade in the range of 74.75 to 74.95 levels. The volatility in the pair has drastically come down in the last few weeks. Implied Volatility for USDINR pair which was trading at 9.50 % annually on 31st March has come down to 4.58 % today. RBI has played a great role in controlling the volatility in the pair. Despite Dollar Index falling from 103 to 93 levels, FDI inflows worth $22 billion and persistent inflows in equity market, RBI has not allowed the rupee to appreciate below 74.50 in last 3 months with continuous dollar buying: Amit Pabari, managing director, CR Forex Advisors

    09:41 (IST)14 Aug 2020
    India’s share market headed for bull run but will it last many years like 2003? Bernstein explains

    With macro indicators at multi-year or record lows, forced by the coronavirus pandemic and the resultant lockdown, equity investors may be hoping for a 2003 redux that saw India’s share market enter into a multi-year bull run. However, that looks less likely this time, according to global investment manager Alliance Bernstein. The money manager claims that although the current situation has many similarities with the financial year 2003, macros will only rebound this time and not enter a multi-year bull cycle. Previously, it was from 2004 to 2009 that India saw a strong bull cycle on the back of strong reforms, after a weak macro situation during 2000-2003.

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    09:38 (IST)14 Aug 2020
    India’s share market headed for bull run but will it last many years like 2003? Bernstein explains

    With macro indicators at multi-year or record lows, forced by the coronavirus pandemic and the resultant lockdown, equity investors may be hoping for a 2003 redux that saw India’s share market enter into a multi-year bull run. However, that looks less likely this time, according to global investment manager Alliance Bernstein.

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    09:34 (IST)14 Aug 2020
    RIL, Sun Pharma top Sensex gainers

    Reliance Industries, Sun Pharma, TCS, Infosys, Housing Development Finance Corporation, ICICI Bank and NTPC were among the top Sensex gainers. On the other hand, Power Grid, HCL Tech, Maruti Suzuki, Bajaj-Auto, Tata Steel and Titan Company were the top index laggards.

    Check live prices: RIL

    09:27 (IST)14 Aug 2020
    Sensex, Nifty gain half a per cent on opening

    The 30-share index Sensex was trading over 180 points or 0.48 per cent higher at 38, 493, while the broader Nifty 50 index was ruling at 11,346, up 49 points or 0.43 per cent.

    Check live Sensex, Nifty levels

    09:09 (IST)14 Aug 2020
    Stocks in focus: Airtel, Vodafone Idea, Tata Steel, BPCL, Hero MotoCorp, Hindalco, Eicher Motors

    A total of 231 companies including Hindalco Industries, NTPC, Glenmark Pharmaceuticals, Berger Paints, Fortis Healthcare, Indian Bank, MRF, New India Assurance Company, United Breweries andVoltas, are scheduled to announce their quarterly earnings today.

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    08:33 (IST)14 Aug 2020
    Retail prices shoot up in July: CPI inflation near 7%; meat, fish, pulse, other food prices skyrocket

    India’s retail inflation swelled to 6.93 per cent in the month of July, which was catalysed by high food prices in the month. CPI inflation was 6.09 per cent in the previous month. The food inflation skyrocketed to 9.62 per cent in July, led by more than 15 per cent inflation in meat, fish, pulses and its products, according to the Ministry of Statistics & Programme Implementation.

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    08:30 (IST)14 Aug 2020
    S&P 500 ends lower in overnight trade

    In overnight trade on Wall Street, the Dow Jones Industrial Average fell 0.29 per cent, the S&P 500 lost 0.20 per cent, and the Nasdaq Composite added 0.27 per cent.

    08:30 (IST)14 Aug 2020
    Asian stock market mixed

    Asian peers ween trading mixed in early trade on Friday with Japan’s Nikkei adding 0.23%. Topix index edged lower while Australia’s ASX 200 rose 0.24% on opening.

    08:30 (IST)14 Aug 2020
    Shaktikanta Das-led RBI board meet today

    The central board of the Reserve Bank of India (RBI), led by governor Shaktikanta Das, is set to meet today and among the items on the agenda of this meeting are the approval of the RBI’s balance sheet for 2019-20 and the question of dividend transfer to the government. 

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    08:29 (IST)14 Aug 2020
    Sensex, Nifty may start on a weak footing: 5 things to know before the opening bell today

    Sensex and Nifty could once again start the trading session down in the red as SGX Nifty was hinting for a weaker stark for domestic indices, trading down by 6 points. Sensex and Nifty ended lower for the second day straight on Thursday. Sensex was down 59 points while the Nifty 50 closed at 11,300 mark. Analysts believe that equity markets could witness some volatile movement in the coming sessions as eyes stayed glued on global stock markets and domestically on the growing number of coronavirus cases. CPI clocking in at 6.93% is also something that investors will take into account in the coming sessions.

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    08:28 (IST)14 Aug 2020
    Supreme Court to hear telecom AGR dues matter today

    Supreme Court on Monday, adjourned the hearing on telecom AGR dues to August 14. SC also asked solicitor-general Tushar Mehta to come prepared with a plan for recovery of dues from the companies under insolvency. 

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