Market HIGHLIGHTS: Sensex ends 327 pts down from day’s high, Nifty below 15,700; Airtel, Infosys fall

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Updated: July 12, 2021 4:29:07 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 ended flat on Monday. Broader markets outperformed equity benchmarks

Share Market Today, Share Market LiveBank Nifty was up 0.36 percent, while Nifty Realty gained nearly 4 per cent.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market indices BSE Sensex and Nifty 50 ended flat on Monday, tracking cues from its European peers. BSE Sensex settled 13.50 points or 0.03 per cent down at 52,372.69, while the broader Nifty 50 ended at 15,692.60, down 2.80 points or 0.02 per cent. BSE Sensex gyrated 491 points during the day. Ultratech Cement, ICICI Bank, State Bank of India (SBI), Axis Bank, Kotak Mahindra Bank, IndusInd Bank, Maruti Suzuki, RIL were among index gainers. On the flip side, Bharti Airtel, Tata Steel, HDFC Bank, Infosys, Housing Development Finance Corporation (HDFC) were top Sensex losers. Nifty sectoral indice ended mixed. Bank Nifty was up 0.36 percent, while Nifty Realty gained nearly 4 per cent. During intraday, Nifty Reakty hit a fresh 52-week high

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Highlights

    15:48 (IST)12 Jul 2021
    Nifty struggles, unable to sustain at higher levels

    The index is struggling! It is unable to sustain at higher levels and hence makes a U-turn at any given instance. We are still stuck in a range which is between 15400 and 15900. Unless either level is not taken out, we will not see a meaningful move. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    15:45 (IST)12 Jul 2021
    Sensex, Nifty end flat

    BSE Sensex settled 13.50 points or 0.03 per cent down at 52,372.69, while the broader Nifty 50 ended at 15,692.60, down 2.80 points or 0.02 per cent

    15:19 (IST)12 Jul 2021
    Indian share market falls, mirrors European markets

    Indian markets started on a positive note following positive Asian market peers with Japan and China markets trading higher as China’s central bank announced Friday a 50 basis points cut in its reserve requirement ratio for all banks. During the afternoon session markets maintained their upward momentum following gains in Realty, Basic Materials and Metal stocks. Healthy buying was observed in blue-chip stocks like Ultratech Cement, ICICI Bank and SBI. However, during the closing session markets lost their gains and traded in red as traders were looking to book profits with lacklustre European markets opening and volatility ahead of the start of the earnings season in U.S. Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers

    15:02 (IST)12 Jul 2021
    Tatva Chintan Pharma Receives Sebi Nod For Rs 450 crore IPO

    Tatva Chintan pharma received SEBI approval for the ₹450 crores IPO consisting of fresh issue of ₹225 crores and offer for sale of ₹225 crores by existing shareholders. Company will utilise a fresh issue of ₹225 crores to fund its capex plans like Dahej manufacturing plant and upgrade its R&D Vadodara facility. Company has been promoted by Ajaykumar Mansukhlal Patel, Chintan Nitinkumar Shah and Snehkar Rasiklal Somani. Company exports its products to more than 25 countries that includes USA,UK, China etc and 75% of the revenue comes from the Export market. The company is manufacturer of chestructure directing agents (SDAs), phase transfer catalyst (PTCs), pharmaceutical and agrochemical intermediates, and other specialty chemicals. They are one of the largest manufacturers of SDAs for zeolites in India. Company sells its products to customers like Merck, Bayer, SRF Limited, Divis labs etc. IPO expected to come in July 2021, we have a positive outlook towards the Tatva Chintan Pharma Limited IPO. Yash Gupta Equity Research Associate, Angel Broking Ltd

    14:59 (IST)12 Jul 2021
    Can 3rd COVID wave in India end the bull market?

    India is in a declining trend in terms of the daily new cases in India but as of now, India is doing the highest number of daily covid cases in the world of around 41500 cases per day. Out of these, 2 states Maharashtra and Kerala contribute nearly about 50% of new cases in India. India Daily new cases have come down from 4.14 lakhs a day in 1st week of May to 0.4 lakhs a day in 2nd week of July 2021. It seems that we are near the end of the 2nd covid wave in India. If we take a look at the rise in cases in the United Kingdom (UK) it seems like the 3rd wave has picked up very quickly in UK despite having 50% fully vaccinated. Uk having more than 31000 daily new cases which has increased from 2200 cases in May 2021 due to new covid variants causing the 3rd wave in the UK. In India also 3rd covid is inevitable and likely to start in August or September 2021 despite partial vaccination of 22% in India. We suggest investors be cautious on markets as 3rd covid wave will come very quickly in India and we may see some sector specific impact in the stock market. Yash Gupta Equity Research Associate, Angel Broking

    14:57 (IST)12 Jul 2021
    Gold trades higher on concerns over delta COVID variant

    Gold prices inched higher trading steady above the $1800 mark, amidst the persisting concerns around COVID-19 and its variants. Along with Covid-19, an upsurge in new coronavirus variants like Delta and poor access to vaccines in developing countries threaten the global economic recovery, finance ministers of the world’s 20 largest economies warned last weekend. Few fed officials had their speech scheduled last week, where they blamed shortage in material and difficulty in hiring as a hurdle for the growth of U.S. economy. Speculators raised their net long positions in COMEX gold and silver in the week ended July 6, according to CFTC. Market will keep a close eye on U.S. consumer price index data scheduled tomorrow and Powell’s appearance before Congress later this week to get cues on policy tightening by the central bank. Also, RBI’s fourth tranche of the Sovereign Gold Bond(SGB) is starting from today for five days. Broader range on COMEX could be between $1786- 1820 and on the domestic front prices could hover in the range of Rs 47,550- 48,150. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services

    14:38 (IST)12 Jul 2021
    Flipkart now valued at $38 billion; raises Rs 27,000 crore from GIC, SoftBank, Walmart, others

    Flipkart Group on Monday said it has raised USD 3.6 billion (about Rs 26,805.6 crore) in funding led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at USD 37.6 billion. The company, which competes with Amazon, Reliance Industries’ JioMart and others in the burgeoning Indian e-commerce market, said it will continue to make deeper investments across people, technology, supply chain and infrastructure to address the requirements of a rapidly growing consumer base in the country.

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    14:36 (IST)12 Jul 2021
    Zomato IPO: Pre-order with Paytm Money; app launches feature to submit application before start date

    Paytm Money has launched a feature allowing users to apply for the upcoming Zomato IPO even before the subscription opens. Zomato is the first public issue on its platform to witness the new feature, using which, investors can apply for the upcoming IPO on a 24×7 basis. The order would be recorded on Paytm Money’s system, and would be sent to the exchange for processing whenever the IPO opens. The users would be notified of their application status throughout the journey.

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    13:26 (IST)12 Jul 2021
    Sensex gives up all gains, turns red

    BSE Sensex turned red, dow 30 points in the afternoon deals on Monday. 

    12:26 (IST)12 Jul 2021
    Zomato IPO opens July 14, check grey market premium; should you subscribe for listing gains?

    Zomato, an online food delivery platform, shares were trading with premium in the primary market, ahead of its Rs 9,375-crore IPO. The public issue will hit Dalal Street on July 14, at the price band of Rs 72-76 per share. On Monday, Zomato shares were trading at Rs 86.25 apiece in grey market, a 13.5 per cent or Rs 10.25 upside over IPO price, according to the people who deal in shares of unlisted companies. Zomato, India’s home grown unicorn, would be the first of many Indian tech startups to list on the stock exchanges.

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    12:26 (IST)12 Jul 2021
    Zomato IPO opens July 14, check grey market premium; should you subscribe for listing gains?

    Zomato, an online food delivery platform, shares were trading with premium in the primary market, ahead of its Rs 9,375-crore IPO. The public issue will hit Dalal Street on July 14, at the price band of Rs 72-76 per share. On Monday, Zomato shares were trading at Rs 86.25 apiece in grey market, a 13.5 per cent or Rs 10.25 upside over IPO price, according to the people who deal in shares of unlisted companies. Zomato, India’s home grown unicorn, would be the first of many Indian tech startups to list on the stock exchanges.

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    11:23 (IST)12 Jul 2021
    Analyst view on Maruti Suzuki

    Maruti Suzuki India Limited announced a price change for Swift and all CNG variants owing to increase in various input costs. The increase in ex-showroom prices (Delhi) is up to 15,000 INR on the above models. The new prices are effective from today i.e. 12 th July, 2021. We believe that this is a positive development for the company and it will keep operating margin stable. We are positive on company. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd

    10:14 (IST)12 Jul 2021
    If Nifty moves past 15,900, it will head to 16,100

    The Nifty has bounced from Friday's low and is once again trading around the mid point of the range which is between 15400-15900. If we can scale higher and get past 15900, we should be able to achieve 16100. Until then trading is going to be lackluster with tepid volumes. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    10:09 (IST)12 Jul 2021
    IRCTC stock price nears all-time high

    IRCTC share price jumped nearly one per cent to trade at Rs 2,240, on BSE. It hit a record high of Rs 2,248 last week

    09:34 (IST)12 Jul 2021
    Rupee snaps two-week losing streak

    Domestically, the rupee snapped its week-long losing run due to consistent flows on account of IPO and a broad risk-on mood. Attention will now turn to flows on account of Zomato’s IPO this week for Rs. 9375crs. That apart, sentiments remain boosted after China cut the banks’ reserve requirement ratio by 50bps providing some liquidity easing. Investors now await India’s IIP and CPI Inflation that will be released today and WPI inflation on Wednesday for further clues on the rupee. Overall, strong inflows into the domestic equity market could limit the upside in the pair while any intervention in spot by RBI downside could cap extended gains. This has led to the short-term range for the USDINR pair confined into the 74.20-74.95 zone. Amit Pabari, managing director, CR Forex Advisors

    09:31 (IST)12 Jul 2021
    Bank Nifty index nears 36,000

    All the Nifty sectoral indices were trading in the green, led by Nifty Realty and Nifty Auto indices. Bank Nifty index was nearing 36,000, Nifty IT index was up half a per cent

    09:29 (IST)12 Jul 2021
    HDFC Bank, HUL top Sensex losers

    Bajaj Finserv, HDFC Bank and Hindustan Unilever Ltd (HUL) were top Sensex laggards

    09:28 (IST)12 Jul 2021
    ICICI Bank, Maruti Suzuki top Sensex gainers

    UltraTech Cement, ICICI Bank, Maruti Suzuki, State Bank of India (SBI), Axis Bank, Kotak Mahindra Bank among top index gainers

    09:26 (IST)12 Jul 2021
    Sensex, Nifty gain in opening trade

    BSE Sensex was trading 284 points or 0.54 per cent up at 52,670, while the broader Nifty 50 index surged 85 points or over half a per cent to trade at 15,773.

    Check Sensex, Nifty live levels

    09:25 (IST)12 Jul 2021
    Nifty set to hit 16,100 in coming weeks, Bank Nifty may head to 36,200; Maruti, Axis Bank, Tata Steel in focus

    The Nifty is approaching maturity of price/time wise correction, the shallow price correction along with prolonged time consolidation signifies strong base formation at 15500. The ongoing volatility indicates that couple of weeks’ breather cannot be ruled out, however eventually we expect Nifty to resolve out of four-week consolidation of (15500-15900) and head towards our target of 16100 in coming weeks. 

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    09:06 (IST)12 Jul 2021
    Nifty to trade in 15,600-15,900 range this week, Bank Nifty remains positive; Infosys, Tata Steel top bets

    The chart pattern suggests that if Nifty crosses and sustains above 15800 level it would witness buying which would lead the index towards 15900-16300 levels. However, if the index breaks below 15600 level it would witness selling which would take the index towards 15400-15300. Nifty is now well placed above its 50 and 100 SMA indicating positive bias in the short term. Nifty is expected to remain in an uptrend to sideways zone until it breaks 15600 on the downside. For the week, we expect Nifty to trade in the range of 15900-15600 with mixed bias.

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    08:49 (IST)12 Jul 2021
    Gold price likely to trade sideways this week; yellow metal firm on worries over delta COVID variant

    Commodity prices traded mixed with most of the commodities in the Non-Agro segment traded higher while crude oil and silver prices ended in red. Gold prices traded higher on lower bond yields while base metals traded higher on lower supply concerns and higher demand. Crude oil futures hovered on mixed fundamentals with delayed OPEC decision on output quota.

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    08:30 (IST)12 Jul 2021
    HCL Tech, Maruti Suzuki, Avenue Supermarts, BPCL, IDBI Bank, HFCL stocks in focus

    Nifty futures were trading 69.50 points or 0.44 per cent higher at 15,797.50 on Singaporean Exchange, suggesting a positive start for BSE Sensex and Nifty 50 on the first day of the week. Asian peers were seen trading up to 2 per cent, on the back of gains on Wall Street. US main indices posted record closing highs in overnight trade on Friday. According to technical analysts, Nifty/Sensex held 15635/ 52250 support and reversed sharply which indicates a strong possibility of a quick pullback rally from current levels. 

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    08:03 (IST)12 Jul 2021
    Ratan Tata’s regret: I didn’t practice this profession despite earning Cornell University degree

    Ratan Tata, chairman emeritus of Tata Sons, would have been in a different profession today, if he were not heading the Tata Group. Tata regrets that he was not able to practice architecture for long, despite earning a degree from Cornell University in 1959. In a video interview, the industrialist and philanthropist said that he always wanted to be an architect, as it interested and motivated him.

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    08:03 (IST)12 Jul 2021
    Why govt is not cutting petrol, diesel prices; Rs 1.3 lakh cr oil bond repayments due for cheap fuel in past

    While Prime Minister Narendra Modi’s government faces growing clamour to rein in rising petrol and diesel prices by cutting taxes, the reason for it not yielding to the demand can be traced back to the early 2000’s. The present and the next governments have a bill worth Rs 1.3 lakh crore to pay, thanks to the then governments’ largesse of keeping petrol and diesel prices in check.

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    08:02 (IST)12 Jul 2021
    IT earnings, macro data to guide stock markets this week: Analysts

    Quarterly earnings from IT majors Infosys and Wipro, macroeconomic data announcements and global cues would be the major drivers for the equity markets this week, said analysts. Leading IT companies Infosys and Wipro and other players such as Mindtree, Tata Elxsi and HDFC AMC would announce their financial results this week.

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    07:59 (IST)12 Jul 2021
    India poised for double-digit growth this fiscal; disinvestment climate looks better: Niti Aayog VC Rajiv Kumar

    “We are now hopefully getting past our (COVID-19) pandemic… and the economic activities will be strengthened as we get into the second half of this (fiscal) year given what I have seen for example various indicators, including the mobility indicators,” Kumar told PTI in an interview.

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