Market Highlights: Sensex ends flat with negative bias at 55,944, Nifty closes above 16,600; TCS, RIL top gainer

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Updated: August 25, 2021 4:27:10 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Broader markets, except Nifty Midcap 50, closed with gains on Wednesday. Benchmark indices ended mixed.

Share Market Today, Share Market LiveIndia VIX closed with gains. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended mixed on Wednesday, a day ahead of the monthly F&O expiry session. S&P BSE Sensex scaled a new all-time high of 56,198 but closed with marginal losses at 55,944. NSE Nifty 50 ended in the green, gaining 0.06% at 16,634. Bank Nifty failed to hold intra-day highs of 35,910 and closed 0.35% lower at 35,586. Broader markets, except Nifty Midcap 50, closed with gains. Among the top gainers on Sensex TCS, gaining 1.42%, followed by Infosys, Reliance Industries, and HUL. On the other hand, Bajaj Finserv was down 2.29% as the top Sensex laggard, followed by Titan, Maruti Suzuki, and Bharti Airtel.


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    16:24 (IST)25 Aug 2021
    Sensex, Nifty close flat after scaling fresh all-time highs; TCS, Infosys, RIL top index gainers

    Domestic equity markets closed flat on Wednesday, down after reaching fresh all-time highs. S&P BSE Sensex scaled a new all-time high of 56,198 but failed to sustain those levels and closed with marginal losses at 55,944. NSE Nifty 50 touched a new high of 16,712 but ended with only marginal gains, up 0.06% at 16,634. Among the top gainers on Sensex TCS, gaining 1.42%, followed by Infosys, Reliance Industries, and HUL. On the other hand, Bajaj Finserv was down 2.29% as the top Sensex laggard, followed by Titan, Maruti Suzuki, and Bharti Airtel. Bank Nifty failed to hold intra-day highs of 35,910 and closed 0.35% lower at 35,586. Broader markets, except Nifty Midcap 50, closed with gains. 

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    15:33 (IST)25 Aug 2021

    Broader markets, except Nifty Midcap 50, closed with gains on Wednesday. Benchmark indices ended mixed. India VIX soared more than 2% to end at 13.5.

    15:20 (IST)25 Aug 2021
    Nifty out of harm’s way but faces strong resistance at 16700-16800; bet on these sectors | JM Fin INTERVIEW

    The Nifty 50 has rebounded smartly from the lows of the previous week and is now scaling fresh all-time highs. However, the Relative Strength Index (RSI) has still not improved for the index, said Rahul Sharma, Director & Head - Research, JM Financial in an interview with Kshitij Bhargava of Financial Express Online. Further, he adds that Nifty could face a strong resistance near all-time highs and believes that the FMCG space remains the best bet for investors, given the elevated levels of Nifty. The benchmark indices had corrected from the highs last week amid a global sell-off. 

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    15:10 (IST)25 Aug 2021
    Sectoral watch

    Bank Nifty was down in the red ahead of the closing bell on Wednesday, followed by Nifty Auto, Nifty Pharma, Nifty PSU Bank, and Nifty Private Bank index. 

    Among sectoral gainers are Nifty FMCG, Nifty IT, Nifty Metal, and Nifty Oil & Gas.

    14:46 (IST)25 Aug 2021
    Negative triggers to watch out for

    The negative triggers which can jolt this bull run are tapering by the US Federal Reserve which would take money flow outside the emerging markets, and we could see profit booking taking place almost instantly. Another negative trigger could be the commentary by the Reserve Bank of India (RBI) on inflation and growth concerns for India specifically. Changes in monetary policy by the RBI and Tapering by the US Fed will remain important events to track for investors. On the positive side, all future growth prospects, declining cases and positivity rate have all been factored into the price. If we talk about the upside, it's limited for the "Index".

    ~ Parang Mehta Chief Product Officer at Havenspire

    14:30 (IST)25 Aug 2021
    Sensex, Nifty trade flat

    Sensex and Nifty were trading flat, dancing between gains and losses just ahead of the closing bell.

    14:28 (IST)25 Aug 2021
    Sensex just below 56,000

    Sensex was just below 56,000 as Dalal Street entered the final hour of trade on Wednesday. Nifty was shy of 16,650.

    13:26 (IST)25 Aug 2021
    Sensex laggards

    Underperforming the index today is Bajaj Finserv, down 3.3% as the top Sensex laggard. It is followed by Titan, Axis Bank, and Bharti Airtel. 

    13:18 (IST)25 Aug 2021
    Buy Gujarat Gas ~ Edelweiss

    We believe GGL will sustain strong double-digit volume growth, particularly driven by new geographies as well as strong growth in high margin industrial/ CNG business. Morbi-based players are targeting 60 new plants with INR500bn investments by Dec 2021, which would further keep GGL’s volume story intact. The company enjoys absolute margin leverage as its margins are nearly one-third that of Adani Gas and MGL, and competing product propane is 20%+ more expensive. Notably, quasimonopoly for entire CGD has been recently reaffirmed through regulation. It enjoys very high sustainable profitability with RoE in excess of 25%, and in fact continues to aggressively invest to capture high-return opportunities. We retain ‘BUY/SO’ with DCF-based TP of INR942 at 27x FY23E PER led by strong Morbi-driven export volumes.

    ~ Edelweiss

    13:09 (IST)25 Aug 2021
    Volatility index soars

    India VIX, the volatility index, was up more than 2% on Wednesday sitting at 13.5 levels. The gauge was seen surging higher even though domestic equity markets were at all-time highs. 

    13:02 (IST)25 Aug 2021
    Buy Federal Bank ~ Angel Broking

    Federal bank is one of India’s largest old generation private sector banks with total assets of Rs. 1.9 lakh cr. with deposits of Rs. 1.56 lakh cr. and a loan book of Rs.  1.2 lakh cr in F21. NPA’s have remained steady for the bank over the past few years with GNPA for Q3FY21 at 3.38% while NNPA ratio stood at 1.14%. PCR at the end of Q3FY21 stood at ~67% which we believe is adequate. Restructuring book is expected to be at Rs. 1,500-1,600 crore out of which Rs. 1,067 crore has already been restructured. This is  against earlier expectations of total restructuring of Rs. 3,000-3,500 crore

    Target price: Rs 110 per share Upside: 37%

    12:40 (IST)25 Aug 2021
    Nucleus Software’s FinnOne Neo to power South Indian Bank’s retail lending landscape

    Nucleus Software has announced that it will empower South Indian Bank, a Kerala based leading Private Sector Bank in South India, by providing the best in class digital solution offering to revamp the bank’s current retail lending landscape. “South Indian Bank has always been the numero uno when it comes to customer-centric options. With the digitization of the lending process, we will be able to unlock the value that the bank has to offer to the market. As part of our business transformation initiative, we are leveraging technology to focus on areas of MSME & Retail Loans. With Nucleus Software’s expertise, we will be able to diversify the asset portfolio and increase penetration in retail lending in the most efficient manner”, says Mr. Murali Ramakrishnan, MD & CEO, South Indian Bank Limited.

    12:36 (IST)25 Aug 2021
    TCS share price hits new record high, m-cap tops Rs 13.5 lakh crore; should you book profit?

    TCS share price hit a fresh record high of Rs 3,697 apiece, rising over 2 per cent in the intraday deals on BSE. With the new record high, Tata Consultancy Services has become the second listed company to top the Rs 13.5 lakh crore market capitalisation. The stock has surpassed its previous high of Rs 3,672.50, touched earlier this week. In last one year, TCS stock has delivered 64 per cent returns, ehile 25.24 per cent so far this year. In one month TCS stock has outperformed BSE Sensex, surging nearly 15 per cent, as compared to a 6 per cent rise in the benchmark index. 

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    11:51 (IST)25 Aug 2021
    India mulls Foreign Direct Investment in LIC

    Permitting FDI in LIC is an important step towards the IPO of LIC. The government has already permitted FDI upto 74 pc in private insurance companies. Opening up FDI in LIC will allow the government to attract marquee global investors in the IPO and enhance the value proposition for the government. The government should also consider making relevant amendments to permit FPI investments in LIC post listing. This could require amendments across various legislation including SEBIs requirements on investments by FPIs. Vikram Raghani, Partner, J Sagar & Associates

    11:46 (IST)25 Aug 2021
    Curefoods raises $13 mn funding from Iron Pillar, Binny Bansal, others

    Curefoods, which operates the cloud kitchen brand EatFit, on Wednesday said it has raised USD 13 million (about Rs 96.4 crore) in funding, led by Iron Pillar. The series A round also saw with participation from Nordstar and Flipkart co-founder Binny Bansal, a statement said. Leading angel investors Adil Allana, Rashmi Kwatra, Lydia Jett, and Kunal Shah also participated in the round, it added.

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    11:32 (IST)25 Aug 2021
    Cement stocks to buy: Better realisations offset costs for firms, buy these 4 shares

    Domestic cement companies saw a sharp uptick in realisations during the April-June quarter, offsetting the escalations in the power/fuel and freight costs, according to domestic brokerage and research firm JM Financial. Realisations were up 7% on-quarter basis against the expected 4% rise, driven by price hikes and change in the mix. “As a result, EBITDA/t fared better on-quarter to Rs 1,359 (+15% QoQ), as a rise in realisations more than offset costs,” the brokerage report said. “We expect the power/fuel costs to continue to rise in 2Q sequentially as the increased impact trickles into the numbers,” JM Financial added.

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    11:06 (IST)25 Aug 2021
    ICICI Bank files cheating case against Karvy Stock Broking Ltd

    A case has been registered against Karvy Stock Broking Ltd promoter C. Parthasarathy and others for allegedly cheating ICICI Bank to the tune of Rs 563 crore. According to a press release issued by the police on Tuesday night, the case was booked under Sections 406 (criminal breach of trust), 420, r/w 34 ( cheating) of IPC against the accused.

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    10:59 (IST)25 Aug 2021
    Vijaya Diagnostic Centre IPO opens September 1; issue entirely an OFS

    Vijaya Diagnostic Centre IPO will open for subscription on 1 September 2021 and close on 3 September. The issue is entirely an offer-for-sale (OFS) of 3.56 crore shares by the selling shareholders, comprising up to 50.98 lakh shares by Dr S Surendranath Reddy, up to 2.94 crore equity shares by Karakoram Ltd and up to 11.02 lakh shares by Kedaara Capital Alternative Investment Fund — Kedaara Capital AIF 1. The public issue also includes the reservation of up to 1.5 lakh equity shares for eligible employees.

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    10:36 (IST)25 Aug 2021
    Sell Nifty 16400 Put (September 2 expiry) in the range of Rs 45-47

    The Nifty opened higher and gained further strength as the day progressed. It closed with a gain of 0.76%. Broader markets witnessed a sharp rebound as both midcap and small cap indices closed with healthy gains. As per options data, 16500 Put option holds significant OI, which should cap downsides. Nifty futures ended at a discount of 4 points while IV was down by 3.79%. The major Put base is at 16500 strike with 68 lakh shares while the major Call base is at the 16800 strike with 47 lakh shares. ICICI Securities

    10:29 (IST)25 Aug 2021
    India VIX gains

    Despite the overall positive market momentum, India VIX was seen jumping 1.91% higher on Wednesday morning. 

    10:20 (IST)25 Aug 2021
    FY21 listed space capex resilient relative to 'investment rate'

    In the immediate pre-pandemic period of FY20, ‘nominal investment rate’ dipped to 28.8% while the share of ‘non-financial corporations’ in the overall GFCF was relatively weak at 46% as compared to the 5-year average (FY15-20) of 48.3%. In the pandemic year of FY21, the ‘nominal Investment rate’, dipped further to 27.1% which translates into a 9% dip in GFCF to Rs53.5tn. However, capex in the listed corporate space was relatively better with cash spent on ‘plant property and equipment’ (PPE) falling by 6.6% YoY to Rs5.1tn in FY21 while including acquisitions and investments in subsidiaries it was flat YoY at Rs5.6tn. Consequently, the ratio of listed space capex to GFCF improved in FY21 to 10.5%. ICICI Securities

    10:03 (IST)25 Aug 2021
    Nifty may hit 16,850; use dips to buy

    The markets are trading well above the 16600 level which is a positive sign. We should scale higher to levels closer to 16800-16850. Dips or intra day corrections can be considered as buying opportunities. 16400 is a good support for the index and as long as that holds, there is no threat to the current trend. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    10:00 (IST)25 Aug 2021
    Holding at the SPDR Gold ETF has hit lowest point of the year

    > Strong dollar> Smooth vaccination program around the world> Risk-on sentiment - US eq. hit an all time high amid economic recovery> Subdued retail participation from India/China due to restrictions.> London spot Gold in 2021 is experiencing technical profit booking after it gained by 18% in 2019 and 25% in 2020. Jigar Trivedi, Fundamental Research Analyst, Anand Rathi Shares and Stock Brokers

    09:59 (IST)25 Aug 2021
    Gold Price Today, 25 August 2021: MCX gold falls ahead of Fed symposium; may fall to Rs 47,100

    Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices fell in India on Wednesday, on the back of weak global cues. On Multi Commodity Exchange, gold October futures were trading Rs 258 or 0.54 per cent down at Rs 47,354 per 10 gram, as against the previous close of Rs 47,612. Silver September futures also fell Rs 412 or 0.65 per cent to Rs 63,062 per kg. In the previous session, silver futures ended at Rs 63,474.

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    09:34 (IST)25 Aug 2021
    USD-INR may find a strong base between 74.00-74.10

    So far inflows on account of various IPO’s and QIP’s have remained supportive of the rupee. That apart, SBI upwardly revising India’s growth projection to 18.5% in the Q1 FY2022 had kept the mood uplifted. Surprisingly, despite domestic equities reaching a record high with Sensex at 56000 and Nifty at 16600 mark, the Dollar-Rupee was unable to break its crucial support of 74.10 levels. This reflects that the extent of RBI’s tolerance for rupee appreciation beyond 74.10 levels seems negligible. Also, the rising crude oil prices above the $70 mark amid supply disruptions have capped rupee gains. In our opinion, the pair shall find a strong base between 74.00-74.10 and should look to rebound towards its resistance zone of 74.40-50 in the upcoming time. Amit Pabari, managing director, CR Forex Advisors

    09:28 (IST)25 Aug 2021
    Bank Nifty gains

    Barring Nifty Pharma, Nifty Healthcare and Nifty Consumer Durables, all the sectoral indices were trading with gains. Bank Nifty jumped 0.4 per cent and Nifty Metal 1.07 per cent. 

    09:24 (IST)25 Aug 2021
    Canara Bank stock may rally 19%, analysts say after Rakesh Jhunjhunwala picks up 1.59% stake in PSU bank

    Rakesh Jhunjhuwala has added PSU lender Canara Bank stock to his portfolio, according to the latest shareholding pattern of the bank available with the stock exchanges. With the addition of Canara Bank to his portfolio, Rakesh Jhunjhunwala now owns shares of at least three bank stocks, including Federal Bank and Karur Vysya Bank. The billionaire investor is known for picking value stocks and holding them for years at a stretch while they turn multi-baggers.

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    09:22 (IST)25 Aug 2021
    Tech Mahindra, Titan, HUL top BSE Sensex losers

    Tech Mahindra, Titan Company, Asian Paints, HCL Tech, Sun Pharma, Hindustan Unilever Ltd (HUL) were among top BSE Sensex laggards

    09:20 (IST)25 Aug 2021
    Tata Steel, Bajaj Finserv, ICICI Bank, HDFC top Sensex gainers

    Bajaj Finserv, Tata Steel, Housing Development Finance Corporation (HDFC), NTPC, ICICI Bank, Nestle India were top BSE gainers

    09:18 (IST)25 Aug 2021
    Sensex reclaims 56,000, Nifty tops 16,650

    BSE Sensex clinched 56,000, rising over 100 pts, Nifty crossed 16,650 on Wednesday

    09:08 (IST)25 Aug 2021
    Sensex, Nifty set to open positive

    Indian equity markets eyes towards a positive opening. SGX Nifty indicates an upside during early hours, almost close to previous all-time highs of Nifty 50. Global sentiments look cheerful as China's ability to fight the recent covid wave is coming out to be successful while US corporate earnings and rise in commodities is reflecting economic strength. Asian markets are faring well this morning as Japan, South Korea and Australia's benchmark advances. Dow futures are trading nearly flat after yesterday's gains. Oil gains further on confidence of economic recovery, Brent climbs back to 70 dollars. Mohit Nigam, Head - PMS, Hem Securities

    09:07 (IST)25 Aug 2021
    Sensex, Nifty make new record highs in pre-open

    BSE Sensex made a new high of 56,171, rising over 200 pts, Nifty crossed 16,650 in the pre-opening session on Wednesday

    09:04 (IST)25 Aug 2021
    Bank Nifty may head to 36,500; support at 35,000 ahead of F&O expiry

    Bank Nifty breaks its under-performance and manages to close above the hurdle of 35500 which may lead to further bullish momentum towards 36000/36500 levels. On the downside, 35000 will act as strong support ahead of expiry whereas 35550-35500 will act as an immediate and intraday demand zone. Santosh Meena, Head of Research, Swastika Investmart

    09:03 (IST)25 Aug 2021
    Nifty eyes 16,800 target; support at 16,500

    Nifty is continuing its bullish momentum post a minor correction and it manages to close above 16600 resistance level which may lead further upside towards 16700/16800 levels. On the downside, 16500 will act as strong support ahead of expiry whereas 16590 will act as an immediate intraday support level to play the 'buy on dip' approach. Santosh Meena, Head of Research, Swastika Investmart

    08:57 (IST)25 Aug 2021
    Stocks to buy: Nifty may rally to 16,750, charts suggest; RIL, SBI, Wipro stocks likely to gain more

    Technically, the texture of the pullback rally indicates that the market is likely to consolidate between 16500 to 16720 price ranges. In addition, on the intraday chart, the index has formed higher bottom formation which suggests further uptrend from current levels. We are of the view that, as long as the index is trading above 10 day SMA or 16500 uptrend wave likely to continue up to 16700-16750. On the flip side, below 16500 uptrend would be vulnerable.

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    08:41 (IST)25 Aug 2021
    Chemplast Sanmar, Canara Bank, Wipro, Vedanta, Mindspace REIT, bank stocks in focus

    Chemplast Sanmar: CLSA Global Markets offloaded 1.2 million shares of Chemplast Sanmar at Rs 548.95 apiece through a bulk deal on NSE. While Copthall Mauritius Investment sold 8.92 lakh shares of Chemplast Sanmar at Rs 534.97 apiece in another bulk deal on the NSE.

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    08:15 (IST)25 Aug 2021
    Petrol and diesel price today August 25: Petrol, Diesel rates unchanged; check price in Delhi, Mumbai here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of petrol and diesel were left unchanged by oil market companies on Wednesday, a day after trimming prices marginally. Petrol in the national capital today costs Rs 101.49 per litre, while Diesel in the capital city is retailing at Rs 88.92 per litre. So far this week prices have been cut twice. The price of petrol was cut for the first time in 35 days on Sunday. 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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    08:11 (IST)25 Aug 2021
    S&P 500, Nasdaq make record closing highs

    In overnight trade on Tuesday, the Dow Jones Industrial Average rose nearly 0.1 per cent. The S&P 500 added 0.15 per cent to a new closing high and the Nasdaq Composite gained 0.52 per cent to 15,019.80, also a new closing high.

    08:11 (IST)25 Aug 2021
    Asian stock markets trade higher, follow Wall Street gains

    Asian stock markets were trading mostly higher in the early trade, following the rally in US stock indices overnight. Japan’s Nikkei 225 was up 0.35 per cent, while the Topix jumped 0.39 per cent. South Korea’s Kospi rose nearly half a per cent and Australia’s S&P/ASX 200 was up 0.24 per cent. 

    08:10 (IST)25 Aug 2021
    India’s GDP likely to grow at 18.5% in April-June quarter this fiscal: SBI report

    The country’s gross domestic product (GDP) is expected to grow at around 18.5 per cent with an upward bias in the first quarter of the current financial year, according to SBI research report Ecowrap.

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