Market HIGHLIGHTS: Sensex snaps 3-day losing run, Nifty above 15,750 on F&O expiry, bulls take charge

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: BSE Sensex and Nifty 50 snapped 3-day losing streak and ended in green on Thursday, a day of F&O expiry.

Market HIGHLIGHTS: Sensex snaps 3-day losing run, Nifty above 15,750 on F&O expiry, bulls take charge
The afternoon session remained volatile and witnessed selling pressure near 34740 levels which is an intermediate supply zone.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 resumed uptrend after three straight days of fall on Thursday, a day of F&O expiry. BSE Sensex gained 209 points or 0.40 per cent to end at 52,653, while NSE’s Nifty 50 jumped nearly half a per cent or 69 points to finish at 15,778. Today’s gains were supported by a rally in metal stocks. Tata Steel shares surged to a new 52-week high, gaining 7 per cent. It was followed by Bajaj Finserv, State Bank of India (SBI), HCL Tech, Sun Pharma, Bajaj Finance, Reliance Industries Ltd (RIL), Infosys. On the flip side, Maruti Suzuki, Power Grid Corporation of India, Bajaj-Auto, ITC, Dr Reddy’s, HUL, Axis Bank were among top losers. On the sectoral front, Nifty Metal index surged to a new high led by gains in Hindalco Industries, National Aluminium, Tata Steel which surged up to 11 per cent. Bank Nifty gained nearly half a per cent to end at 34,691.50

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15:53 (IST)29 Jul 2021
Should you subscribe to Rolex Rings IPO?

Rolex Rings public issue has received an overall subscription of 3.84x, Retail 7.10x and Non-Institutional 1.34x on the first day of the issue. Retail Investors’ confidence seems to be boosted after Rolex Rings received a strong response from anchor investors and managed to raise Rs 219.29 cr. Rolex Rings is among the top five forging companies in India and the company’s comprehensive product portfolio catering to auto, industrial, infra and renewable segments and long-standing customer relationship gives credence to the quality and sustainability of its products. Rolex Rings has reported profits for the last four financial years. Investors should consult an expert or analyse the IPO properly before investing. Palka Chopra, Senior Vice President, Master Capital Services

15:37 (IST)29 Jul 2021
Closing bell: Sensex, Nifty snap 3-day falling streak

BSE Sensex gained 209 points or 0.40 per cent to end at 52,653, while NSE’s Nifty 50 jumped nearly half a per cent or 69 points to finish at 15,778

15:21 (IST)29 Jul 2021
Nifty continues to remain range-bound between 15400-15900

No progress was made in the markets today. We continue to remain range-bound between 15400 and 15900. The volumes are tepid and the movements are lackluster. Both these levels are crucial in paving the way forward. A break on either end can result in a 300 point move! Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

15:21 (IST)29 Jul 2021
Nifty continues to remain range-bound between 15400-15900

No progress was made in the markets today. We continue to remain range-bound between 15400 and 15900. The volumes are tepid and the movements are lackluster. Both these levels are crucial in paving the way forward. A break on either end can result in a 300 point move! Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

15:15 (IST)29 Jul 2021
India’s gold demand up 19 per cent in April-June quarter at 76 tonne: WGC

India’s gold demand increased by 19.2 per cent to 76.1 tonne during the April-June quarter this year, largely due to low base effect, owing to the nationwide lockdown that hit economic activity last year, the World Gold Council (WGC) said in a report. The overall gold demand during the second quarter of 2020 calendar year stood at 63.8 tonnes, according to the WGC’s ‘Gold Demand Trends Q2 2021′ report. 

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15:07 (IST)29 Jul 2021
Indian stock market set to snap 3-day losing streak on F&O expiry day

Indian markets started on a positive note following upbeat Asian market peers with reports that the Chinese Securities regulator has stepped-in to assuage investor concerns over tech crackdown supported sentiment and favourable outcome of Federal Open Committee which ended its two-day meeting by keeping interest rates in a target range between zero and 0.25%. During the afternoon session markets continued their firm trade. Investors remain energized as Chief Economic Adviser (CEA) stated that India is expected to hit a growth rate of 6.5-7% in 2022-23 and accelerate further to 8% in the subsequent years on the back of reforms undertaken by the government. Forecasts for gross domestic product were raised to a 9.2% expansion in the fiscal year ending March 2022, from the previous 9%, while the gross value added outlook edged down slightly to 9%. Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers

15:01 (IST)29 Jul 2021
Zomato’s share price rally not over yet: JM Financial says ‘buy’; check target price, upside

Zomato’s stellar listing and its subsequent rally might not be over yet. Domestic brokerage and research firm JM Financial has initiated the coverage of newly-listed food-tech giant Zomato with a ‘buy’ rating and a target price of Rs 170 per share. This implies an upside potential of 26% from current levels. “Zomato is poised to leverage the decadal growth opportunity in India’s on-demand hyperlocal delivery ecosystem. The company is a market leader in the food delivery vertical and (like some of its global peers) could explore adjacent growth opportunities,” analysts at JM Financial said in a note.

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14:46 (IST)29 Jul 2021
Tata Steel share price hits 52-week high

Tata Steel stock price hits 52-week high, rising 7 per cent to Rs 1,481.25 apiece intraday on BSE on Thursday

14:31 (IST)29 Jul 2021
Tejas Networks shares jump 5 per cent; hit upper circuit as Tata Sons arm to acquire controlling stake

Shares of Tejas Networks on Thursday jumped 5 per cent to hit its upper circuit after the telecom and network firm said an arm of Tata Sons will acquire controlling stake in it for nearly Rs 1,890 crore in a multi-step deal. The stock rose by 4.99 per cent to Rs 246 — its upper circuit limit — on BSE. On NSE, it gained 4.98 per cent to Rs 244.35 — its upper circuit.

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14:29 (IST)29 Jul 2021
Green, social and sustainability bond issuance to reach combined $850 billion for full-year 2021

Following record first-half volumes, we now anticipate global issuance of about $450 billion of green bonds and $200 billion each of social bonds and sustainability bonds. Volumes across the three segments totaled $427 billion in the first half of the year, more than double the same period last year, as market momentum continues to be exceptionally strong. Sustainable bond issuance totaled $189 billion in the second quarter of 2021, with $94 billion of green bonds, $46 billion of social bonds and $49 billion of sustainability bonds. Moody’s

14:12 (IST)29 Jul 2021
Prime Day 2021 marked the most Small Medium Businesses (SMBs) selling on, ever

Prime Day 2021 marked the most Small Medium Businesses (SMBs) selling on ever, as they saw an overwhelming response from Prime members.  With customers from over 96% pincodes of India placing orders and with the month leading up to Prime Day marking the highest viewership for Prime Video and highest number of listeners for Prime Music, Prime members enjoyed the best of what Prime Day has to offer with the unique SMB selection, new launches, great savings, and engagement with various Prime benefits.

14:01 (IST)29 Jul 2021
SC reserves verdict on Amazon pleas against Future Retail-Reliance deal

The Supreme Court Thursday reserved verdict on the pleas of e-commerce giant Amazon against the Rs 24,713 crore deal for merger of Future Retail Ltd (FRL) with Reliance Retail. NV Investment Holdings LLC and FRL are embroiled in a bitter legal fight over the deal and the US-based firm has sought in the apex court that the Singapore’s Emergency Arbitrator (EA) award, which restrained FRL from going ahead with the merger, was valid and enforceable.

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13:44 (IST)29 Jul 2021
Indian Mutual Fund industry records milestone of Rs 33.7 lakh cr in June 2021

The Indian Mutual Fund industry recorded a milestone of Rs.33.7 lakh crore in June 2021, after witnessing steep fall in AUM to Rs.25.5 lakh crore in June 2020 compared with Rs.27.9 lakh crore recorded in January 2020. As per AMFI, the MF Industry’s AUM has grown from Rs.6.73 lakh crore in June 2011 to Rs.33.7 lakh crore in June 2021 about five-fold increase in a span of 10 years. The industry’s AUM had crossed the milestone of Rs.10 lakh crore for the first time in May 2014 and in a short span of about three years, the AUM size had increased more than two folds and crossed Rs.20 lakh crore for the first time in August 2017. The AUM size crossed Rs.30 lakh crore for the first time in November 2020 and reached Rs.33.7 lakh crore as on June 30, 2021. CARE Ratings

13:32 (IST)29 Jul 2021
Nifty to reach higher 16100-16200 in the coming weeks

Indian markets traded with mixed cues from across the globe. India is expected to grow with 6.5 to 7 percent in the next financial year and more than 8 percent in the further years to follow. We witnessed a reversal in the market and a swift recovery from the support level near 15500. We expect the market to breach the level of 15800 and trade in a small range between 15800-15950 in this week. The global sentiment remains positive, and we can expect the market to reach the higher levels of 16100-16200 in the weeks to follow. Gaurav Garg, Head of  Research, CapitalVia Global Research

13:25 (IST)29 Jul 2021
Fintech startup Slice raises Rs 75.5 crore in debt funding

Fintech startup Slice on Thursday said it has raised Rs 75.5 crore in debt in the first quarter of FY22 from multiple financial institutions. These institutions include Northern Arc Capital, Niyogin Fintech Limited, Credit Saison India and Vivriti Capital among others, a statement said.

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12:56 (IST)29 Jul 2021
Robinhood aims to spark a financial revolution and its IPO is just the beginning

Amid the short squeezes, the lawsuits, the vitriol and the battle for investing inclusivity, in Robinhood’s timely IPO we’re seeing the start of what’s set to become a financial class war between retail and Wall Street. 

12:45 (IST)29 Jul 2021
How markets react post FOMC outcome

Despite no surprises, 10 ys UST slid further to 1.23% possibly hinting at stagflation risks or correcting Fed’s supposed mistake of being active on the idea of tapering. We maintain Treasuries appear dislocated from fundamentals. The Catalysts such as labor market tightening, higher supply or a renewed push for the bipartisan infrastructure package may be needed to push yields higher. We see UST yields at 1.65%+ by end-CY21 and still see steam in reflation trade/risk assets. Madhavi Arora, Lead Economist, Emkay Global Financial Services

12:40 (IST)29 Jul 2021
Perspective on FOMC

– Fed officials unanimously agreed to hold policy steady at the July FOMC meeting as expected, while also announcing two standing repo facilities to address money market pressures.
– Changes to the statement language skewed mildly hawkish, as the Committee indicated that the economy “has made progress” toward its goals to begin reducing asset purchases. But overall tone on path of rates remains pretty dovish.
– That said, the statement noted that pandemic-impacted sectors still “have not fully recovered” and Chair Powell argued in questioning that the labor market remains “a ways away” from maximum employment. Madhavi Arora, Lead Economist, Emkay Global Financial Services

12:25 (IST)29 Jul 2021
RIL, Tata Steel top BSE Sensex contributors

Reliance Industries Ltd, Tata Steel, Infosys, Bajaj Finserv, HCL Tech top contributors to Sensex’ up move

12:10 (IST)29 Jul 2021
Cognizant Q2 net income up 41.8 pc to $512 million; to hire 1 lakh people this year

Cognizant has reported 41.8 per cent increase in June quarter net income at USD 512 million (around Rs 3,801.7 crore), and said it expects to hire about one lakh people this year as the IT major looks to arrest high attrition rates in the company.

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11:51 (IST)29 Jul 2021
Facebook warns of revenue growth slowdown despite strong ad sales, Mark Zuckerberg talks ‘metaverse’

Facebook Inc said on Wednesday it expects revenue growth to “decelerate significantly,” sending the social media giant’s shares down 3.5% in extended trading even as it reported strong ad sales.

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11:43 (IST)29 Jul 2021
Tatva Chintan Pharma 2nd company in green chemical space to get listed

After Clean Science, Tatva Chintan Pharma Chem is the second company in the green chemical space to get list on the bourses. For some of its products it is the only manufacturer in India and among the largest globally. Its products have various applications in green chemistry, which is gaining prominence considering the growing focus on clean and sustainable technologies. Over FY18-21, Tatva Chintan’s Revenue/ PAT grew at 30%/62% CAGR, supported by margin expansion of almost 500 bps to 21.9%. Tatva Chintan is expected to do well due to its leadership position, wide product portfolio, strong client relationship and capacity expansion leading to strong growth ahead. Sneha Poddar, AVP – Research Analyst, Broking & Distribution, Motilal Oswal Financial Services

11:40 (IST)29 Jul 2021
Windlas Biotech IPO opens August 4; check price band, IPO size, bid lot size, other details

Windlas Biotech’s Rs 401.53-crore IPO will open for subscription on Wednesday, 4 August, at a price of Rs 448-460 per share of face value of Rs 5, each. The public issue will close on Friday, 6 August. This would be 31st IPO so far in the calendar 2021. The offer comprises fresh issue of shares worth Rs 165 crore and an offer-for-sale (OFS) of 51.42 lakh shares by existing selling shareholders. Promoter Vimla Windlass will sell 11.36 lakh equity shares, and investor Tano India Private Equity Fund II will offload its entire stake of 40.06 lakh shares (or 22 per cent of pre-offer paid up equity) through OFS route. 

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11:38 (IST)29 Jul 2021
Where’s Nifty headed now?

NIFTY has the highest Call OI accumulation at 15800. So unlikely to move past that level unless there is a major tactical shift in the OI. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services

11:27 (IST)29 Jul 2021
Nifty clinches 15,800 on F&O expiry day, helped by rally in metal stocks

Nifty 50 index surged to hit 15,800, led by rally in metal stocks. Nifty Metal index at new highs.

11:13 (IST)29 Jul 2021
Tata Steel share price surges 4%

Tata Steel was the top BSE Sensex gainer, at this hour, followed by HCL Tech, Bajaj Finserv, Reliance Industries Ltd, Titan Company, Tech Mahindra

11:00 (IST)29 Jul 2021
Record-breaking IPOs expected in 2021; fundraising through public issue may cross Rs 1 lakh crore

With the IPO momentum holding strong, calendar year 2021 is set to witness record fund raising through initial public offerings. As on date, India Inc has raised over Rs 42,000 crore though 28 IPOs in seven months till date. If the number of companies which have filed their issues with SEBI or have shown intent to list is any indication, this could easily cross Rs 1 lakh crore by December should the secondary market maintain its tempo.

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10:56 (IST)29 Jul 2021
MCX gold support at Rs 47200-46300

MCX gold opened at 47720, Feds powell says inflation rate is running well above to the target but labour market has to go long. Fed kept interest rate unchanged and take some time to analyse the progress of tappering bond purchases. In comex, Gold has sustaining above 1789$ while Silver is also holding its crucial support level of 2450 cents. If Gold and Silver continue sustain above their support level then a bounce in prices towards 1820$ and 26$ respectively are expected. In MCX, Gold has support at 47200-46300 and it has resistance at 48700-49600. Silver has support at 65400-64000 and resistance at 68200-71000. Abhishek Chauhan, Head Commodities and Currency, Swastika Investmart

10:54 (IST)29 Jul 2021
CCI probe: Day after Flipkart, Amazon moves Supreme Court against Karnataka HC order

A day after Flipkart, Amazon on Wednesday also moved the Supreme Court challenging the Karnataka High Court’s last week’s order allowing the Competition Commission of India (CCI) to continue its probe against it for alleged violations.

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10:34 (IST)29 Jul 2021
Keep a close watch on 15,450 in Nifty; 33,900 in Bank Nifty

We advise maintaining caution at current levels and suggest keeping a close watch on 15,450 in Nifty and 33,900 in banking index as critical support as the breakdown of these levels would induce further decline towards 15,200 in Nifty while the banking index may test 33,300-32,600 zone. Ajit Mishra, VP-Research, Religare Broking 

10:32 (IST)29 Jul 2021
Gupshup raises fresh $240 million within four months of it entering unicorn club

Conversational messaging platform Gupshup has raised a fresh $240 million in funding from a clutch of investors, including Fidelity Management and Research Company, Tiger Global, Think Investments and Malabar Investments, the company said in a statement on Wednesday. The investment which comes less than four months after it secured $100 million from investors and is primarily a follow-on funding round also saw participation from Harbor Spring Capital, certain accounts managed by Neuberger Berman Investment Advisers, White Oak, Neeraj Arora and others.

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10:32 (IST)29 Jul 2021
Bharti Airtel hikes entry-level pre-paid tariff by 61%; scraps base pre-paid plan of Rs 49, replaces it with Rs 79 plan

After hiking post-paid tariffs at the upper end – corporate customers – last week, the country’s second-largest telecom operator, Bharti Airtel on Wednesday raised the bar for its entry-level pre-paid users. The company has scrapped the base level monthly pre-paid plan of Rs 49 and replaced it with a monthly plan of Rs 79 bundled with more data. Simply put, Bharti’s tariff plans now start at Rs 79 a month against the earlier Rs 49.

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10:13 (IST)29 Jul 2021
Nifty trades around midpoint of 15400-15900 range

The markets are trading around the midpoint of the current range which is between 15400-15900. The volumes are soft and the momentum is spiritless. Until we do not get past either of the two levels, the Nifty will not witness a significant move. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

10:12 (IST)29 Jul 2021
Glenmark Life Sciences IPO last day today: Should you subscribe? Grey market premium moderate, strong response

Glenmark Life Sciences’ Rs 1,541-crore IPO (initial public offering) entered the final day of bidding today. The IPO has so far elicited a strong response from all pockets of investors despite the weak secondary market sentiment. A subsidiary of the publicly traded Glenmark Pharmaceuticals, the company is a developer and manufacturer of high value, non-commoditized APIs in chronic therapeutic areas with a strong partnership with global players.

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10:11 (IST)29 Jul 2021
Tatva Chintan Pharma share price doubles on listing, stock soars 95% from IPO price

Tatva Chitan Pharma shares made a stellar debut on stock exchanges on Thursday, nearly doubling the IPO investors money on listing. Tatva Chintan Pharma’s share price soared to trade at Rs 2,111 per share, up 95% from the IPO price of Rs 1,083 per share. The stock had a market capitalization of Rs 4,680 crore on its stock market debut. Tatva IPO had received bids for 58.83 crore shares against 32.61 lakh shares on offer and saw a whopping 180.36 times subscription rate, making it the second-most subscribed public issue of the calendar year 2021.

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10:08 (IST)29 Jul 2021
Gold Price Today, 29 July 2021: Gold rises to 1-week high; how to trade MCX gold, MCX silver, COMEX gold

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India rose to a one-week high on Thursday, following international market trends. On Multi Commodity Exchange, gold August futures were trading Rs 194 or 0.41 per cent up at Rs 47,780 per 10 gram, against the previous close of Rs 47,577. Silver September futures were ruling at Rs 67,203 per kg, up Rs 813 or 122 per cent.

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09:47 (IST)29 Jul 2021
Tatva Chintan Pharma Chem shares list at 95% premium over IPO price

Tatva Chintan Pharma Chem shares got listed at 95% or Rs 1,028 premium over IPO price, at Rs 2,111 apiece on BSE.

Check live prices: Tatva Chintan Pharma Chem

09:37 (IST)29 Jul 2021
Indian Rupee likely to open on a flattish note

The Indian Rupee is likely to open on a flattish note and is expected to continue its narrow range of 74.30-74.70 for the day. On the domestic front, the cabinet has announced the enactment of the Deposit Insurance Credit Guarantee Corporation (DICGC) Bill, which would ensure an amount of Rs 5 lakh stored in bank accounts. They have also announced amendments to LLP laws to provide ease of doing business benefits to the new ventures. However, clouds are still hovering on the domestic outlook due to many headwinds in business activity. Overall, the outlook on the USDINR pair remains the same. So, it is likely to continue its short-term range of 74.30-75.00 until another major event gives a breakout on the higher side. Amit Pabari, managing director, CR Forex Advisors

09:29 (IST)29 Jul 2021
Bank Nifty up 0.4%; Nifty IT top sectoral gainer

All the Nifty sectoral indices were trading in the green on monthly F&O expiry day, led by Nifty PSU Bank and Nifty IT. Bank Nifty was up 0.41 per cent

09:27 (IST)29 Jul 2021
Maruti, HDFC, Dr Reddy’s top Sensex losers

Maruti Suzuki, Bajaj-Auto, Housing Development Finance Corporation (HDFC), Dr Reddy’s Laboratories, Nestle India were top index laggards

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