Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended near the day’s high in a highly volatile session with Nifty settling shy of 17,700. The BSE Sensex index closed 130.18 points or 0.22% up at 59,462.78, and the NSE Nifty 50 shut shop 39.20 points or 0.22% higher at 17,698.20. Oil & Gas indices rose 2.5% and Metal and Power added 1.5% each. On the other hand, Pharma index shed 1% and Information Technology (IT) index declined 0.76%. In the broader market, BSE midcap and smallcap indices ended marginally higher. ONGC, Tata Steel, NTPC, UPL and Power Grid Corp were among the major Nifty gainers, while Divis Lab, Apollo Hospitals, Infosys, Maruti Suzuki and Tata Consumer Products were the laggards.
The Ministry of Statistics and Programme Implementation will release the retail inflation figure for July at 5.30 pm today. Headline retail inflation is likely to have cooled in July, led by lower food prices, with prices of certain key items posting a sequential fall, according to economists. In June, the inflation rate measured by the Consumer Price Index (CPI) decelerated to 7.01% from 7.04% in the month of May. Last week, the RBI lowered its inflation forecast for July-September to 7.1% from 7.4% earlier.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 12 August
The BSE Sensex index closed 130.18 points or 0.22% up at 59,462.78, and the NSE Nifty 50 shut shop 39.20 points or 0.22% higher at 17,698.20. Oil & Gas indices rose 2.5% and Metal and Power added 1.5% each. On the other hand, Pharma index shed 1% and Information Technology (IT) index declined 0.76%.
“Equity markets continued to rally with resilient performance during the week. Key bench mark indices like BSE-30 and Nifty-50 has given positive returns this week. Market rally has been broad based with gains seen in BSE Midcap, BSE Smallcap and majority of sectoral indices. Sectoral index performance was led by BSE Metals and BSE Capital Goods indices, whereas some defensive sectors underperformed the broader market. Global equity markets continued their strong rally, as the US CPI moderated in July. In India, FPIs flows were positive this week. With Q1FY23 result season coming towards close, market focus will shift towards macro factors that includes inflation, Central Bank rate action, oil prices and recession concerns in key economies globally .”
~ Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities
GMDC declares a 9 fold on-year jump in its consolidated profit at Rs 345 crore while its consolidated revenues for the quarter jumped 132 per cent on year to Rs 1,155 crore, aided by both income from operations as well as finance income. On a sequential basis, the profit was higher by 95 per cent and revenue increased by 9 per cent.
Lupin has received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), Meclizine Hydrochloride Tablets USP, 12.5 mg, 25 mg, and 50 mg, to market a generic equivalent of Antivert Tablets, 12.5 mg, 25 mg, and 50 mg, of Casper Pharma LLC. The product will be manufactured at Lupin’s facility in Goa, India. Lupin was quoting at Rs 683.70, down Rs 6.20, or 0.90 percent.
Apollo Hospitals declines 3% after 35% yearly drop in net profit in Q1
Indian share markets are likely to witness correction in coming weeks amid high volatility and global recession concerns. Benchmark index Nifty 50 will be at 15,600 points by December 31, 2022, said BoFA Securities in a report. “We remain cautious on markets on the current volatile environment and looming global recession concerns as reflected by consensus downgrading NIFTY FY23/24 earnings (YTD -2.5%/-2.2%),” it said. While the American brokerage firm sees risks of further earnings cuts, it noted that some of the other feared risks highlighted earlier, such as crude sustaining at higher levels, depreciating rupee, and rising inflation are now showing some initial signs of moderation.
Balaji Amines subsidiary Balaji Speciality Chemicals has filed its Draft Red Herring Prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The public issue consists of a fresh issue of equity shares worth up to Rs 250 crore and an offer-for-sale (OFS) up to 2.6 crore equity shares by the Promoter and selling shareholders, according to the draft papers. The Solapur-based speciality chemicals company will use the funds raised via fresh issue to repay 68 crore of its certain outstanding borrowings and use Rs 119.5 crore to fund its working capital requirements besides general corporate purposes.
Balaji Amines has posted 36 per cent rise in its net profit on-year at Rs 122.9 crore versus Rs 90.4 crore and revenue was up 48.7% on-year at Rs 670.2 crore against Rs 450.7 crore. Balaji Amines was quoting at Rs 3,735.15, up Rs 40.45, or 1.09 per cent on the BSE
Shares of Page Industries hit a 52-week high in morning trade after the apparel manufacturer reported a multi-fold jump in the first quarter net profit.
The Motorcycle sales were up 4 percent at 8.7 lakh units versus 8.37 lakh units, YoY.
Two-wheeler sales were up 9.5 percent at 13.8 lakh units versus 12.6 lakh units.
Utility vehicle sales were up 10.5 percent at 1.37 lakh units versus 1.24 lakh units, YoY.
Passenger Car sales were up 10.3 percent at 1.43 lakh units versus 1.30 lakh units
Passenger Vehicle sales were up 11 percent at 2.94 lakh units versus 2.64 lakh units, YoY.
Benchmark indices are trading marginally higher with Sensex up 39.6 points or 0.07% at 59372.22, and the Nifty was up 17.25 points or 0.1% at 17677.95.
Aurobindo Pharma reported a 32.4% year-on-year growth in consolidated profit at Rs 520.4 crore for the quarter ended June FY23, impacted by lower other income and operating income. Revenue grew by 9.4% to Rs 6,236 crore compared to year-ago period, with US formulations business increasing 10.8%, but Europe formulation business fell 2.2% mainly due to euro currency depreciation.
“SYRMA SGS TECHNOLOGY LIMITED is one of India's leading and fastest growing Electronics system design and manufacturing (ESDM) companies. With a huge focus on R&D-based innovation and an experienced management team, the company has managed to enter into various growing segments like PCBA, Radio Frequency Identification (RFID), Electromagnetic and electromechanical parts, and other information technology-related products, including motherboards, DRAM modules, SSD and USB drives.”
“The company’s business model starts from product concept design and focuses on every segment of the overall industry value chain; this gives them a competitive advantage over traditional OEM or ODM-based companies that focus on a single process or certain stages of production, thus creating lasting relationships with its marquee clients. Further, the geographically diversified manufacturing locations enable them to efficiently cater to the requirements of their customers in north and south India. Additionally, the business has had success using inorganic means to add new product lines and expand its geographic reach. The issue has been priced at a premium valuation, which is acceptable given its growth potential and competitive advantages. And therefore, we recommend investors to subscribe the issue.”
~Santosh Meena, Head of Research, Swastika Investmart
Dabur on Friday told the stock exchanges that its Chairman of the Board of Directors, Amit Burman has resigned. He, however, will continue to be the Non-Executive Director of the Company. Further, the company said it has appointed Mohit Burman (who is currently the Non-Executive Vice Chairman of the Company) as the Non-Executive Chairman of the Board of Directors of the Company for a period of 5 years w.e.f. August 11, 2022.
The Board of Directors of Dabur India approved following changes in the position of Chairman and Vice Chairman of the company. The board accepted resignation of Amit Burman from the post of Chairman of the Board of Directors of the company with effect from the close of working hours of August 10, 2022. Burman shall continue to be the Non-Executive Director of the company. The board approved appointment of Mohit Burman (who is currently the Non-Executive Vice Chairman of the Company) as the Non-Executive Chairman of the Board of Directors of the company for a period of 5 years w.e.f. August 11, 2022.
Bharat Forge shares rallied 8% on stable business outlook post Q1 results. Looking ahead in to Q2FY23, the management expects stable performance across both the domestic and export markets despite uncertainty arising from the macro- economic headwinds
Sensex and Nifty were trading flat, dancing between gains and losses on Friday morning. Sensex was hovering around 59,330 while the NSE nifty 50 was at 17,666.
Paytm share price tumbled over 4 per cent on Friday to hit an intraday low of Rs 782 apiece on NSE. The slump follows RBI’s move to issue strict norms for digital lending space. It also comes a day after the Advisory firm Institutional Investor Advisory Services India Limited (IiAS) flagged the proposal to reappoint Vijay Shekhar Sharma as the Chief Executive Officer (CEO) of Paytm for another five years and also opposed the remuneration decided for the position. The advisory firm advised shareholders to vote against the move, ahead of Paytm’s annual general meeting (AGM) on August 19. So far this year, Paytm shares have fallen over 40 per cent. However, analysts at ICICI Securities, Goldman Sachs remain bullish on the stock and see up to 55% upside going forward.
S&P BSE Sensex and NSE Nifty 50 have soared more than 1% so far this week as bulls continued to dominate Dalal Street. Volatility has also slipped from its highs of close to 21 levels to not sit near 18 levels. Next week is once again a holiday-shortened one for Sensex and Nifty, however, there will be no dearth of opportunities for investors as a long list of marquee names go ex-dividend. These include IRCTC, Bharat Petroleum Corporation Limited, ICICI Securities, and even Apollo Hospitals stock among others. Here is the complete list.
Promoter Shapoorji Pallonji and Company is going to sell up to 23.7 lakh shares or 1.25% stake via offer for sale on August 12 and August 16. The floor price of the offer will be Rs 270 per share.
Phoenix Mills reports Rs 719 crore net profit in quarter ended June 2022 vs loss last year. Stock rises 6%
ONGC, Life Insurance Corporation of India, Hero MotoCorp, Grasim Industries, Divis Labs, Zee Entertainment Enterprises, Aegis Logistics, Ahluwalia Contracts, Apollo Tyres, Astral, Bajaj Electricals, Bajaj Healthcare, Bajaj Hindusthan Sugar, Balaji Amines, Bharat Dynamics, Campus Activewear, Dilip Buildcon, Dhani Services, Finolex Cables, Godrej Industries, Hindustan Aeronautics, Indiabulls Real Estate, India Cements, Kolte-Patil Developers, Muthoot Finance, Info Edge India, Power Finance Corporation, SJVN, Sun TV Network, Supriya Lifescience, Timken India, Varroc Engineering, Voltamp Transformers, and Wockhardt will be in focus ahead of June quarter earnings on August 12.
Ipca Laboratories reported 53 per cent fall in its Q1FY23 net profit at Rs 143.06 crore against Rs 306.66 crore in June 2021. Its net sales were up at Rs 1,585.74 crore versus Rs 1,565.79 crore, YoY.
IT, Pharma suffer most losses; Realty, Metals upbeat
ONGC, IndusInd Bank, Titan Company, ICICI Bank and Hindalco were among major gainers on the Nifty, while Apollo Hospitals, Tata Motors, Tech Mahindra, Infosys and Wipro were the laggards.
Benchmark indices opened flat with negative bias amid mixed global cues. The Sensex was down 68.30 points or 0.12% at 59264.30, and the Nifty was down 19.20 points or 0.11% at 17639.80.
Indian rupee opened marginally lower at 79.66 per dollar on Friday against previous close of 79.63.
“Continuing its prior daily rising trend, BANK NIFTY rose to 6-month high of 38,932-level. The index outperformed its benchmark-Nifty on the back of strength across major constituents. The key technical indicators positively poised on major timeframe charts. Our bullish view will remain intact, which could take the index towards 39,000-level initially and 39,400-level subsequently. On the lower side, now the index will find support around 38,300-level. As for the day, support is placed at around 38,708 and then at 38,537 levels, while resistance is observed at 38,991 and then at 39,103 levels.”
“Nifty 50 extended gain after surpassing crucial 17,400-level and rose to 4-month high of 17,719-level. The key technical indicators are positively poised on major timeframe charts. Overall market breadth turned positive and mixed trend witnessed across the sectors. As mentioned earlier, our bullish view will remain intact, this could lead the index towards 17,800-level initially and 18,000-level subsequently. In case of any decline, the index will continue to find support around 17,400-level. As for the day, support is placed at around 17,621 and then at 17,583 levels, while resistance is observed at 17,708 and then at 17,757 levels.”
Indian markets are likely to open on a flat note on the back of mixed global cues as caution prevails on Fed's interest hike rate strategy. US markets ended mixed on the back of gains in technology stocks amid release of macroeconomic data.
Benchmark indices are trading lower in the pre-opening session. The Sensex is down 177.47 points or 0.30% at 59155.13, and the Nifty is down 95.30 points or 0.54% at 17563.70.
“USDINR has shown some resilience to break on the downside below 79.20 even after witnessing the huge inflows of nearly $2.5 billion in August for the first time since Oct-2020. Compared to the other economies, India has fared better in terms of managing inflation and the growth pendulum. However, its huge current account deficit is a concern for the government and the RBI which will likely be attempting to refill its $573 billion forex reserves by absorbing the current inflows. With steering global volatility it is going to be a tough job for RBI to control the wild moves in the currency pair. Overall, we continue to expect the rupee to remain in a consolidated range of 78.80 to 80.10 until a clear direction is found with the breaking of either side. If the pair breaks on the upside, a further move of 1 to 1.5 rupee can be seen shortly after the breakout of 80.10 levels. On the flip side, if it breaks 78.80 levels, the pair is likely to find support near 78.20 levels.”
~Amit Pabari, MD, CR Forex Advisors
The IPO market is once again set to witness some action from today after a long hiatus as the public issue of Syrma SGS Technology opens. The Rs 840 crore IPO will open for subscription on August 12, Friday and close on August 18, Thursday. Ahead of the issue, the IPO has garnered interest from marquee names as part of its anchor book. A total of Rs 252 crore has been raised from 18 anchor investors ahead of the public issue, which includes both domestic as well as foreign investors such as Nomura Trust, Eastspring Investment, ICICI Prudential, IIFL, and Edelweiss, among others.
“Indian markets could open flat, in line with rangebound Asian markets today and mostly lower US markets on Thursday. Nifty ended higher for the fourth consecutive session on Aug 11 aided by positive global cues. At close, Nifty was up 0.71% or 124.3 points at 17659. Nifty showed some signs of sell-on-news as the morning gains could not be sustained. There are no new data points on the horizon which can impact the Nifty in the near term. We are getting close to the end of the results season and hence micro moves may also be fewer and far between from now on. Given the upward momentum, Nifty could now rise to 17779-17842 band in this upmove.”
~Deepak Jasani, Head of Retail Research, HDFC Securities
“Benchmark Indices are expected to open on a flat note today as suggested by trends on SGX Nifty. We can see some action in the stocks that posted earnings after market hours such as Aurobindo Pharma, Apollo Hospitals, Shilpa Medicare, Quess Corp, Sunteck Realty etc. Earnings today include companies such as Apollo Tyres, Astral, Balaji Amines, Finolex Cables, ONGC, HAL, RCF, SJVN, Sun TV etc.
On the technical front, Immediate support and resistance in Nifty 50 are 17400 and 17800 respectively. Bank Nifty immediate support and resistance are 38250 and 39250 respectively.”
~ Mohit Nigam, Head – PMS, Hem Securities
The Indian rupee is expected to depreciate on Friday amid expectations of weak macroeconomic data from India. CPI year-on-year is expected to drop from 7.01% to 6.78%. Additionally, industrial production is expected to drop from 19.6% to 10.7%. USDINR (August) is likely to trade in a range of 79.70-79.90, according to ICICIDirect. In the previous session, rupee depreciated by 36 paise against the US dollar amid rising crude oil prices. At the interbank foreign exchange market, the local unit opened at 79.22 and saw an intra-day high of 79.22 and a low of 79.69 against the greenback before it finally ended at 79.61, down 36 paise over its previous close of 79.25. Rupee is likely to trade on a mixed note in the near term, according to forex traders.
Gold prices were flat on Friday, weighed down by an uptick in the Treasury yields and prospects of U.S. interest rate hikes, although broader weakness in the dollar kept bullion on track for its fourth weekly gain. Spot gold was flat at $1,787.57 per ounce, as of 0120 GMT. However, bullion has gained 0.7% so far this week.
The boards of Aditya Birla Capital and Aditya Birla Health Insurance have approved a proposed investment of Rs 665 crore for a 9.99% stake in the latter from a subsidiary of Abu Dhabi Investment Authority (ADIA), the company said in a statement on August 12. The transaction values Aditya Birla Health Insurance at approximately Rs. 6,650 crores. Upon the completion of the transaction, ADIA will own a 9.99% stake, ABCL will hold a 45.91% stake and Momentum Metropolitan Strategic Investments will own a 44.10% stake, respectively, in the company. The company plans to use this capital to drive its growth in the health insurance market in India.
Oil prices dipped in early trade amid uncertainty on the demand outlook based on contrasting views from OPEC and the International Energy Agency (IEA), but benchmark contracts were headed for weekly gains as recession fears eased.
Brent crude futures fell 34 cents, or 0.3%, to $99.26 a barrel at 0112 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.3%, to $94.00 a barrel. Brent was on track to climb more than 4% for the week, recouping part of last week's 14% tumble, its biggest weekly decline since April 2020 amid fears that rising inflation and interest rate hikes will hit economic growth and fuel demand.
Syrma SGS Technology on August 11 raised Rs 252.04 crore through its anchor book, ahead of its initial public offering. A total of 18 anchor investors poured money into the IPO. The company finalised the allocation of more than 1.14 crore equity shares to anchor investors at a price of Rs 220 per share.
Stocks in Asia got a lift from Japan on Friday while Treasuries were mixed as investors evaluated how far the Federal Reserve must jack up interest rates to ensure high inflation keeps cooling. Japan added about 2% in a catch-up rally as the equity market there reopened from a holiday but Australia and Hong Kong struggled. US futures fluctuated after the S&P 500 and Nasdaq 100 gave up intraday gains to end in the red. Shorter maturity Treasury yields edged up. The 30-year note pared a Thursday drop sparked by middling demand at an auction. A dollar gauge was steady.
“Softened US inflation data boosted investor sentiments and led to hope that the US Fed might taper down its aggression and raise interest rates at a slower pace than previously expected. Commodity costs have corrected over the last few weeks, offering some respite to the record high inflation. Even India’s inflation data is due on Friday which would be eyed eagerly amidst better US inflation data. The benefit of the recent moderation in commodity costs is likely to start accruing in 2HFY23E, which would boost corporate profitability. Thus the positive momentum in the market is likely to sustain going ahead, though bouts of volatility can’t be ruled out given mixed global cues and increasing geopolitical tensions.”
~ Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
“The benchmark Nifty followed Wall Street higher this Thursday after softer-than-expected US inflation data raised hopes that the Fed may start to slow the pace of tightening. Helping sentiments were advancement in Hang Seng and the Shanghai Composite indices after the PBoC said it would balance economic growth and price stability. The positive takeaway from today’s trading session was that risk-on theme and stock specific theme did dominate at Dalal Street. The technical landscape for Nifty is likely to be positive as long as the benchmark trades above its biggest support level at 17377 with targets at 17889. On breaching the same, all bullish eyes will be on the psychological 18,000 mark.”
~Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
Paytm: Institutional Investor Advisory Services India (IiAS), a proxy advisory firm, has advised shareholders of One 97 Communications to vote against five resolutions of the firm, including reappointment of Vijay Shekhar Sharma as managing director.
Adani Group: Adani group will invest Rs 57,575 crore in setting up an alumina refinery in Odisha as the conglomerate run by richest Indian Gautam Adani adds one more business. In a press statement, the group said it will set up a 4-million tonnes a year alumina refinery near bauxite mines as well as an iron ore project.
Reliance: Reliance Retail has appointed former Levi Strauss’ executive Arunkumar Nath as CFO and Senior VP Finance (Fashion and Lifestyle). Nath shared this news on his LinkedIn handle.
“Technically, the Nifty is trading near its important resistance level and has also formed a small bearish candle. For traders, 17600 would be the key level to watch out for, while the overall chart structure suggests that if the market sustains above the same then breakout continuation formation could continue till 17700-17750. On the flip side, a sharp intraday correction is possible if the index trades below 17600. Below which, the index could slip till 17540-17450.”
~Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
The price of petrol and diesel has been left unchanged for the 79th day by OMCs on August 12. The msot recent price reduction came in Maharashtra when the state government announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel earlier last month. The cut in VAT is likely to cost Maharashtra’s state exchequer Rs 6,000 crore on an annual basis. For the rest of the country, prices have been steady since May 21 when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and Rs 6 per litre on diesel.
Domestic stock markets soared higher on the weekly futures & options expiry session on Thursday. S&P BSE Sensex rallied 515 points or 0.88% to settle at 59,332 while the NSE Nifty 50 index jumped for the fourth consecutive session to end at 17,659. India VIX has meanwhile, tanked 6% to sit just above 18 levels. Ahead of the last trading session of the week, SGX Nifty was down in the red, suggesting a tepid start to the day’s trade while global cues were mixed. Wall Street equity indices closed in opposite direction on Thursday.
The Nasdaq and S&P 500 retreated to close lower on Thursday on the realization the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer prices despite fresh evidence of cooling inflation. The S&P 500 closed a tad lower after earlier hitting fresh three-month highs following data that showed the US producer price index (PPI) unexpectedly fell in July. The Dow Jones Industrial Average rose 27.16 points, or 0.08%, to 33,336.67, while the S&P 500 slid 2.97 points, or 0.07%, to 4,207.27 and the Nasdaq Composite dropped 74.89 points, or 0.58%, to 12,779.91.
India's equity indices rose to a four-month high on Thursday, mirroring the overnight gains on Wall Street, after softer-than-expected consumer inflation in the US, which raised hopes of slower interest rate increases by the American central bank. BSE's Sensex gained 515.3 points, or 0.88%, to close at 59,332 – the highest closing since April 8, while the broader NSE Nifty rose 124.2 points, or 0.71%, to close at 17,659 – highest closing since April 11.
Nifty futures on the Singapore Exchange were trading 19 points, or 0.10 per cent, higher at 17,672, signaling that Dalal Street was headed for a muted start.