Share Market HIGHLIGHTS: Nifty ends at 16,931, Sensex at record closing high too; Bharti Airtel zooms over 5%

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Updated: August 30, 2021 4:27:53 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended at record closing highs on Monday

Share Market Today, Share Market LiveBarring Nifty IT index, all the sectoral indices ended in the green. Image: Reuters

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 posted record closing highs on Monday, supported by broad-based buying in blue-chip counters. The 30-share Sensex surged 765 points or 1.36 per cent to 56,889.76, and Nifty 50 closed the day at 16,931, rising 1.35 per cent or 226 points. Index heavyweights such as Bharti Airtel, Axis Bank, Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, State Bank of India (SBI), Asian Paints and RIL, among others were the top index gainers. On the flip side, Nestle India, Tech Mahindra, Infosys and Tata Consultancy Services (TCS) were Sensex laggards. Barring the Nifty IT index, all the sectoral indices ended in green. Nifty Bank index surged over 2 per cent to settle at 36,348.

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    15:46 (IST)30 Aug 2021
    Sensex, Nifty post record closing highs

    The 30-share Sensex surged 765 points or 1.36 per cent to 56,889.76, and Nifty 50 closed the day at 16,931, rising 1.35 per cent or 226 points.

    15:22 (IST)30 Aug 2021
    Should you susbscribe to Ami Organics

    Considering the FY-21 adjusted EPS of Rs.14.82 on post-issue basis, the company is going to list at a P/E of 41.16 with a market cap of Rs.22,227 mn while its peers namely Aarti Industries and Hikal are trading at a P/E of 54.20 and 46.13 respectively. We assign a “Subscribe” rating to this IPO as the company has a strong and diversified product portfolio supported by strong R&D and process chemistry skills and is available at reasonable valuation as compared to its peers. Marwadi Shares and Finance Ltd

    14:12 (IST)30 Aug 2021
    What's Grey Market premium suggesting for Vijaya Diagnostics IPO?

    Grey market premium for Vijaya Diagnostics is at Rs.30, which is 5.6% of IPO price. Grey market is not suggesting any big listing for Vijaya Diagnostics IPO. The total IPO issue size is of Rs. 1894 crores, which consists of an Offer for sale of 3.56 crores shares from promoters and investors. Vijaya Diagnostics IPO has been priced at Rs.531 which seems to be higher side of the recently listed diagnostic company. Companies' majority revenue comes from Hyderabad. Yash Gupta, Equity Research Analyst, Angel Broking

    14:11 (IST)30 Aug 2021
    Ami Organics IPO opens Sep 1; check grey market premium

    Grey market premium for Ami organics is at Rs.50 which is 8.2% of IPO price, so the grey market is not suggesting any big listing for Ami Organics IPO.  Ami Organics IPO size is Rs.570 crores consists of fresh issues of 200 crores and an offer for sale of Rs.370 crores (60.6 Lk shares. The company has fixed the IPO price at price to earning of 35.5 times of FY2021 earning, we believe that all the short-term positives have been priced in. Yash Gupta, Equity Research Analyst, Angel Broking Ltd

    13:31 (IST)30 Aug 2021
    Bharti Airtel share price jumps after mega rights issue announced; should you buy, sell, hold?

    Bharti Airtel share price gained over 2.5 per cent to Rs Rs 609.25 apiece intraday on BSE, after the telecom giant said it will raise up to Rs 21,000 crore by way of rights issue. The rights issue will be at Rs 535 per share, at a 1:14 ratio, implying a 7 per cent equity dilution. The issue price is at a 10 per cent discount to its current level. The promoters and promoter group will subscribe to shares they are entitled to, and will also pick up any unsubscribed shares.

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    13:11 (IST)30 Aug 2021
    Investment in Sovereign Gold Bonds is fast picking pace

    The price for the sixth tranche of SGB is fixed at Rs 4732/gm. Investment in Sovereign Gold Bonds is fast picking pace. RBI raised Rs 16,049 crore in FY21 via the twelve tranches of SGBs, a total of over Rs 25,702 crore since its inception in November 2015  as per its annual report. Investment in non-physical gold, digital gold provides high liquidity, eliminates storage cost, and is easier to sell vs physical gold. Investment in SGBs comes with an interest coupon payable semi-annually. Nish Bhatt, Founder & CEO, Millwood Kane International on Sovereign Gold Bond Trance 6

    13:10 (IST)30 Aug 2021
    Monsoon tracker: Deficit concerns loom

    Monsoon rainfall remains weak, with the month of August recording precipitation that is 26% below normal. As a result, the cumulative rainfall deficit between 1 June and 29 August remains large, at 10% of the long-period average (LPA: 1961-2010), raising risks of a deficient monsoon season that falls significantly short of the forecasts for a healthy monsoon issued by both IMD and private forecaster Skymet. Regional distribution of the monsoon also remains sub-par, with 26 subdivisions having received normal or above-normal rainfall this season, while 10 having received deficient rainfall. Barclays

    12:08 (IST)30 Aug 2021
    CVs, 2Ws to maintain positive trend, PVs likely hit by supply issues

    Our channel checks indicate that CVs and 2Ws should continue to see positive momentum on a sequential basis. PV volumes are likely to be hit by the chip shortage, despite a healthy order book. Overall, we retain a positive view on the auto sector and our top picks are TTMT (TP: Rs400), AL (TP: Rs155), MSIL (TP: Rs9,000) and EIM (TP: Rs3,040). In Ancillaries, we like MSS (TP: Rs300) and APTY (TP: Rs305). Emkay Global Financial Services

    11:56 (IST)30 Aug 2021
    Nifty may hit 17,000 if it holds above 16,500

    Indian benchmark indices started the week on a positive note, hitting fresh record highs of 16881. Traders taking encouragement as foreign direct investment (FDI) into the country rises. Asian shares perked up and the dollar fell to two-week today after U.S. Federal Reserve chairman speech. Our research suggests that 16500 is an important support level in the short term, if the market sustains above this level, we can expect the market to remain positive and gain momentum, leading to an upside projection till 16900-17000 level. Gaurav Garg, Head of  Research  CapitalVia Global Research

    11:54 (IST)30 Aug 2021
    Jubilant Pharmova share price surges over 5% in five days after Rakesh Jhunjhunwala, wife buy stake

    Jubilant Pharmova share price surged as much as 2.3 per cent to Rs 636.25 apiece in intraday on BSE, after the ace investor Rakesh Jhunjhunwala picked up a stake in radiopharmaceuticals manufacturer through open market transaction last week. Rakesh Jhunjhunwala bought 25 lakh shares and wife Rekha Rakesh Jhunjhunwala acquired 20 lakh equity shares of Jubilant Pharmova at Rs 594.35 per equity share. 

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    10:36 (IST)30 Aug 2021
    Gold near-term outlook positive

    The precious metal registered immediate gain and breakout above $1800/oz after fed chairman sounded more cautious than other Fed officials on tapering, mentioning that the central bank could start reducing its $120 billion in monthly bond purchases this year. Powell’s comments created some selling in US dollar which has been positive for the gold. Bullish sentiments in gold have picked up in Indian markets also where safe have has given closing above 47500. The near-term outlook is expected to remain positive as Powell’s comments have breathed new life in the precious metal market.Key level for GOLD AUG Contract – 47313Buy Zone Above – 47320 for the target of 47807-48000Sell Zone Below – 47300 for the target of 47050-46800 (Sandeep Matta, Founder, TRADEIT Investment Advisor)

    10:00 (IST)30 Aug 2021
    Gold rescales $1800/oz

    COMEX gold trades little changed near $1818/oz after a 1.4% gain on Friday. Gold trades near 3-week high supported by weakness in US dollar as market players played down Fed’s monetary tightening concerns post comments from Fed Chairman. Also supporting price is increased geopolitical tensions relating to Afghanistan and mixed economic data from major economies and rising virus risks. However, weighing on price is weaker investor interest as is evident from ETF outflows. Gold has rescaled $1800/oz and the momentum has turned positive however mixed factors may keep prices volatile. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research, Kotak Securities

    09:59 (IST)30 Aug 2021
    MCX gold may rise to Rs 47,700

    London spot Gold rose by 1.4% or $25 and closed at $1,817.57 an ounce, achieving the level in more than three weeks after U.S. Fed Chair Powell did not provide any clear guidance on the timeline for paring economic support at the Jackson Hole economic conference. For the week, London gold advanced more than 2%. The Fed Chair Powell said the Fed will likely begin to ease off its monetary stimulus packages but added that interest rate hikes are still off in the distance. At the same time, worries over the rapid spread of the Delta strain persisted, as some countries in the Asia-Pacific imposed fresh restrictions. MCX gold October future may appreciate as the dollar has weakened after Fed Chair Powell offered no signal on when the central bank plans to cut its asset purchases beyond saying it could be "this year" and indicated it will remain cautious in any eventual decision to raise interest rates. On Friday MCX Gold October appreciated by nearly 300 points hence we don't rule out possibility of a subdued start of week but eventually we expect MCX Gold October to appreciate to Rs. 47,700 per 10 gram Jigar Trivedi, Research Analyst- Commodities Fundamental, Anand Rathi Shares & Stock Brokers

    09:41 (IST)30 Aug 2021
    USD-INR could recover back to 74-74.10 levels

    Broadly, any appreciating move is not favorable for the exporters & hence RBI could try to keep it on a depreciating mode by building their USD reserve kitty. On another side, the given move is an opportunity for the importers to cover every dip close to the 73.30 mark. The volatility is likely to remain high and there are higher chances that the USDINR pair could recover back to 74-74.10 levels. Amit Pabari, managing director, CR Forex Advisors

    09:29 (IST)30 Aug 2021
    Fall in dollar index, rise in US markets to enthuse bulls in India

    The much-awaited Fed commentary after the Jackson Hole Symposium has indicated that "it would be appropriate to start reducing asset purchases this year." But the Fed chief has hastened to add that there is much ground to cover before rate hikes. So, even though this can be treated as the beginning of normalization of the accommodative policy, the communication is smart enough not only to calm the markets but to enthuse it too. Consequently, the dollar index has slipped to below 93 and the risk-on in US markets has pushed the indices to record highs. This will enthuse the bulls in India too. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    09:28 (IST)30 Aug 2021
    Bank Nifty rises 0.5%

    All the Nifty sectoral indices were trading in the positive territory, with Bank Nifty rising half a per cent. Nifty Metal index surged 1.73 per cent.

    09:24 (IST)30 Aug 2021
    Power Grid only Sensex loser

    Power Grid Corporation of India was the only Sensex laggard

    09:23 (IST)30 Aug 2021
    Titan, RIL, M&M, NTPC top Sensex gainers

    Titan, Tata Steel, Maruti Suzuki, M&M, Asian Paints, NTPC, L&T, HDFC, RIL, Bajaj Finserv, Bharti Airtel were top BSE Sensex gainers

    09:21 (IST)30 Aug 2021
    Sensex tops 56,450, Nifty hits fresh record high, above 16,800

    BSE Sensex hit a fresh record high of 56,469 and Nifty 50 surged to a new all-time high of 16,816

    09:19 (IST)30 Aug 2021
    Gold, silver prices surge after Fed comments; expect bullion prices to trade sideways to up this week

    Commodity prices traded higher with most of the commodities in the non-agro segment rallying the most in the last trading session of the previous week. Bullion prices gained post-FED speech while base metals were supported by weaker dollar and reopening of port activities in China. Crude oil prices rallied more than 10% on supply disruption fears amid hurricane threats in Gulf of Mexico.

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    09:12 (IST)30 Aug 2021
    IPO frenzy continues; 2 public issues to open on Sep 1 to garner Rs 2,465 cr

    The IPO rush will continue in September with two more companies Vijaya Diagnostic Centre and Ami Organics launching their initial share-sales on Wednesday to raise a total of Rs 2,465 crore. This comes after eight companies including Devyani International, Nuvoco Vistas Corporation and CarTrade Tech floated their initial share-sales last month to mobilise Rs 18,243 crore.

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    09:11 (IST)30 Aug 2021
    FPIs net buyers in Aug, invest Rs 986 cr in equities

    Foreign portfolio investors (FPIs) pumped in a net of just Rs 986 crore in Indian equities during August, as cautiousness continued to persist among overseas investors. According to data from depositories, FPIs bought equities worth Rs 986 crore and invested Rs 13,494 crore in the debt segment between August 2-27.

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    09:09 (IST)30 Aug 2021
    Nifty looks set to hit 17,200, Bank Nifty may hit new high of 37,700 in coming month; HDFC, RIL top bets

    Going ahead, we reiterate our consecutive stance as we expect the index to resolve above past two weeks’ consolidation (16700-16400) and gradually head towards our revised target of 17000-17200 in the coming month aided by firm global cues. Thereby any volatility from here on would present an incremental buying opportunity to own quality large and midcap stocks. 

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    08:52 (IST)30 Aug 2021
    Nifty above 16750 will test new record high of 17000, Bank Nifty may touch 36300 this week; RIL in focus

    Nifty closed at 16705 with a gain of 255 points on a weekly basis. On the weekly chart, the index has formed a Bullish candle with a long lower shadow indicating buying at lower levels. The index is moving in a Higher Top and Higher Bottom formation on the weekly chart indicating a sustained uptrend.

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    08:50 (IST)30 Aug 2021
    Petrol and diesel price today August 30: 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 Monday, for the sixth consecutive day. Today, petrol in the national capital 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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    08:37 (IST)30 Aug 2021
    Nifty upside may be capped at 16950-17000, Bank Nifty at 36300-36400; Buy these 3 stocks for gains

    The Benchmark NSE Nifty 50 index, for the last two trading sessions, is hovering within a very narrow range and has formed two consecutive small candles indicating a sideways trading range. Nifty 50 broke its narrow range candlestick consolidation on 27th Aug 2021 and registered its lifetime high of 16722.05 levels.

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    08:34 (IST)30 Aug 2021
    Bharti Airtel, IndiGo, Tata Steel, Nazara Technologies, Coal India stocks in focus

    Nifty futures were ruling 85.50 points or 0.51 per cent up at 16,810.50 on Singaporean Exchange, suggesting that Nifty 50 index may scale new highs on Monday. In the previous session, equity benchmark indices scaled new closing highs, with the 30-share BSE index closing above the 56,000-mark for the first time. Indian stock markets will be guided by macroeconomic data, auto sales numbers and global trends this week.

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    08:07 (IST)30 Aug 2021
    Sensex, Nifty may open in positive territory; 5 things to know before today's trade

    Domestic equity benchmark indices look to start the new trading week on the back of strong gains last week, which saw Dalal Street soar to fresh all-time highs. S&P BSE Sensex currently sits at 56,124 while the NSE Nifty 50 is placed at 16,705. Broader markets have once again started moving higher while India VIX remains above 13 levels. On Monday morning, SGX Nifty was up 80 points, hinting at a continued positive momentum build-up in domestic equities. Global cues were positive as most Asian stock markets traded with gains, mirroring the upward move recorded on Wall Street during the last trading session. 

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    07:58 (IST)30 Aug 2021
    India’s macroeconomy more healthy, ready for faster growth, says economist Ashima Goyal

    Notwithstanding the pandemic severe shock, India’s macroeconomy is more healthy and ready for faster growth, eminent economist Ashima Goyal said on Sunday, observing that recovery from both the first and second waves was faster than expected points towards inherent strengths of the economy.

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    07:58 (IST)30 Aug 2021
    US stocks end higher on Friday

    In overnight trade on Wall Street, US stocks surged as US Treasury yields fell on Friday after Federal Reserve Chair Jerome Powell indicated the US central bank could begin scaling back its bond buying program by year-end but did not give a firm timeline. The Dow Jones Industrial Average rose 0.69 per cent, the S&P500 index gained 0.88 per cent and the Nasdaq Composite added 1.23 per cent.

    07:57 (IST)30 Aug 2021
    Asian stock markets trade higher

    Asian stock markets were trading mostly higher on in early trade, with Japan’s Nikkei 225 advancing 0.2 per cent while the Topix index gained over half a per cent. South Korea’s Kospi was ruling 0.32 per cent higher.

    07:57 (IST)30 Aug 2021
    Nifty set to make new highs today

    Nifty futures were trading 86.50 points or 0.52 per cent higher at 16,811.50 on Singaporean Exchange, suggesting that the Nifty 50 index may test new all-time highs today

    Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
    Next Stories
    1Nifty may head to 18200 in October, Bank Nifty to hit 38600; RIL, Infosys, others among top money-making ideas
    2Bullion prices fall for third week straight on FED tapering talk; expect gold to trade sideways
    3Nifty to trade in 17600-18300, Bank Nifty remains positive; watch out for these levels this week