Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended at fresh record closing highs on Tuesday, ahead of weekly expiry tomorrow. BSE Sensex surged 210 points or 0.4 per cent to 55,792.27, while the Nifty 50 index ended at 16,614, rising 0.31 per cent or 51.55 points. Tech Mahindra, TCS, Nestle India, Titan Company, Hindustan Unilever Ltd (HUL), Infosys and HCL Tech were top Sensex gainers. On the flip side, IndusInd Bank, NTPC, Bharti Airtel, Tata Steel, L&T, Mahindra & Mahindra (M&M) were among top index laggards. Bank Nifty index fell 0.6 per cent, Nifty Financial Services 0.3 per cent, Nifty Metal tanked 2.30 per cent. While Nifty FMCG surged 1.42 per cent, Nifty IT gained 2.57 per cent and Nifty Pharma added half a per cent
BSE Sensex surged 210 points or 0.4 per cent to 55,792.27, while the Nifty 50 index ended at 16,614, rising 0.31 per cent or 51.55 points
Even as petrol and diesel prices in India have not been revised by OMCs for the last one month, more than half the country has petrol at over Rs 100-a-litre mark. Finance Minister Nirmala Sitharaman clearly stated that there will be no cut in excise duty on fuel as of now, saying the government has to pay for the oil bonds issued by the UPA government in the past.
Read full story
Markets regulator Sebi has reduced the minimum lock-in period for promoters’ investment post an initial public offering (IPO) to 18 months from three years, under certain conditions. The move comes at a time when many companies are looking to list on the stock exchanges. In addition, the Securities and Exchange Board of India (Sebi) has streamlined disclosures requirements of group companies.
Read full story
Religare Broking Ltd. through its partnership with Vested Finance has introduced foreign stock markets on its broking platform wherein clients can diversify their portfolio with international stocks. 1 million customers of Religare Broking can enjoy the benefits of geographical diversification and safeguard their portfolios from a single currency risk. This partnership will enable investors to directly invest in US stocks that they consume on a regular basis including Apple, Amazon, Netflix, Facebook, etc. Vested Finance is an online investment platform that enables Indian investors to invest in the US stock market in a smooth and hassle-free manner.
Domestic market has toppled in-line with the weakened global market being concerned over rising new variant infection rate and selling in the Chinese market due to strict regulations governing internet sector. The Indian broader market is getting weaker due to selling in Mid & Small caps while large caps is outperforming. Bounce in domestic economy data has made large caps more attractive in which defensive sectors IT, FMCG and Pharma is performing well, which is expected to continue in the short to medium-term. Vinod Nair, Head of Research at Geojit Financial Services
Nirma group cement company Nuvoco Vistas Corporation Ltd, whose IPO got 1.71 times subscription, is likely to finalise the basis of share allotment on Tuesday, 17 August 2021. Upon successful completion of its IPO, it will join the industry-listed peers such as Ultratech Cement, Shree Cement, Ambuja Cements and ACC. In the primary market, Nuvoco Vistas shares were seen quoting at a premium of Rs 4.5 over the IPO price of Rs 570 per share. Nuvoco shares were trading at Rs 574.5, a premium of nearly 1 per cent in the grey market, over the issue price, according to the people who deal in shares of unlisted companies.
Read full story
Sterlite Power Transmission (SPTL) has filed a draft red herring prospectus (DRHP) to launch Rs 1,250-crore IPO, with a face value of Rs 2 each. The promoters of the company are Anil Agarwal and Twin Star Overseas. The shares of Sterlite Power Transmission will be listed on BSE and National Stock Exchange. According to the draft papers, the company may consider a pre-IPO placement of Rs 220 crore. The book running lead managers are Axis Capital, ICICI Securities and JM Financial. The registrar to the issue is KFin Technologies Private Ltd.
Read full story
The Indian benchmark had a slightly negative start but soon the losses got wiped up and the market tried to sustain above the level of 16500 on the Nifty 50 index. Finance Minister Nirmala Sitharaman said she expected inflation to stay within the prescribed range during the current fiscal year, which boosted sentiments in the market among the traders. RBI has also been mandated to keep the inflation at 4 percent which will also keep the sentiments positive in the market. It will also decrease the worry among the investors regarding the ongoing inflation problems in the market. Our research suggests that 16500 will be 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 16700-16750 level. Gaurav Garg, Head of Research, CapitalVia Global Research
The market is giving premium valuations to the new edge technology companies where CarTrade is likely to debut in the secondary market on 19th August or 23rd August. We have to see how the CarTrade IPO will perform because retail investors’ interest has come down significantly amid a correction in midcap and small-cap space but we saw decent subscription numbers by HNIs on the last day. The major disappointing factor from CarTrade was that its IPO is 100% OFS therefore no money will go into business for future expansion while high competition and low entry barriers are other risk factors. As the market is interested in new edge technology stocks whereas anchor book and HNIs subscription were decent for the CarTrade IPO, so we can expect a listing gain of around 10-15% but we advise only aggressive investors to hold this company for the long term. Santosh Meena, Head of Research, Swastika Investmart
CarTrade Tech Ltd is a multi-channel auto platform provider company. The company operates various brands such as CarWale, CarTrade, Shriram Automall, BikeWale, CarTradeExchange, Adroit Auto, and AutoBiz. The platform connects new and used automobile customers, vehicle dealers, vehicle OEMs, and other businesses to buy and sell different types of vehicles. The company offers a variety of solutions across automotive transactions for buying, selling, marketing, financing, and other activities. The company is expected to list on bourses on 23rd August 2021. The company is expected to list a price of 1900 – 2000, listing a gain of 18.75% to 25%. Rahul Sharma, Co- Founder, Equity99
Sugar stocks are cyclical giving good returns when the industry does well. The decline in production in Brazil augurs well for the fortunes of the industry. It appears that sugar prices are likely to move up, but only marginally. From an investment perspective, sugar stocks have never been wealth creators. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The Nifty has opened flat and is perhaps taking a breather due to the jubilant performance of last week. 16575-16600 could pose a short term resistance for the index. The overall trend remains positive and any fall or intra day correction can be utilized to buy this market. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading flat on Tuesday, as international rates remained steady, hovering near an over one-week peak. On Multi Commodity Exchange, gold October futures were trading Rs 14 up at Rs 47,239 per 10 gram, as against the previous close of Rs 47,225. Silver September futures were ruling at Rs 63,650 per kg.
Read full story
Bank Nifty fell 0.59 per cent to 35,882, and Nifty Financial Services was down 0.46 per cent. On the flip side, Nifty FMCG, Nifty IT, Nifty Metala and Nifty Pharma were trading in the green
Market participants welcomed the INR 100 trillion national infrastructure plan by PM Modi that will help generate jobs, boost the productivity of industries and lead to overall economic growth. That apart, data showed wholesale price inflation rate in India eased to 11.16% YoY in July 2021, from 12.07 % in the previous month. With many companies like Ruchi Soya(Rs.3000crs), CMS Info(Rs. 2000crs), Inspira(800crs) filing papers with SEBI, the IPO fever shall remain in continuity and be supportive to the rupee. It will be watchful whether RBI shows any intervention downside to cap sharp gains in the rupee. If so then, two opposite forces “inflows” and “RBI” should keep the Indian Rupee to trade sideways in the range of 74.10-74.40 zone in the near term before any big market triggers like Fed tapering announcement takes it towards 75.00-75.20 levels in the upcoming time. Amit Pabari, managing director, CR Forex Advisors
IndusInd Bank, HDFC Bank, ICICI Bank, Maruti Suzuki, Axis Bank were the top index laggards
Tech Mahindra, Sun Pharma, Nestle India, Power Grid Corporation of India, Asian Paints, Dr Reddy’s, HUL were among top BSE Sensex gainers
BSE Sensex fell 125 points to 55,457, while the Nifty 50 index gave up 16,550 at opening trade
Market is slowly moving into a consolidation phase with strong support coming from large-caps. The current trend of large-cap outperformance is likely to continue in the very short- term. Presently there are no major global cues that can sway the market trend. But domestic cues like the sustained decline in Covid cases and economic activity returning back to normal are positives. At the present high market level, valuations are stretched and scary but there is enough momentum in the market to take the Nifty to 16700 level. It appears that the phase of easy money making is over. Day trading is likely to turn risky. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The market is trading at an all-time high. Traders should keep churning and booking profit at these levels. A slight cautious approach should be taken in the market. We expect the market to remain sideways. Keep booking profit in stocks. Escorts Securities
There are not too many cues for the market but our headline indices Nifty/Sensex is in a bullish momentum where Nifty is likely to test its immediate target of 16650 while PCR is in little overbought territory at 1.67 level which may cause some profit booking near the 16650 level. On the downside, 16500 will act as strong support ahead of weekly expiry tomorrow as the highest OI on the Put side is shifting from 16400 to 16500 strike level while the previous breakout point of 16350 will be a strong support level at any correction. Santosh Meena, Equity Research Head, Swastika Investmart
The short-term trend has shifted again into choppy, post upside breakout of the small narrow range movement. There is a possibility of Nifty showing consolidation or minor weakness in the next 1-2 sessions, before showing further upside in the near term. The next upside target remains intact at 16800 levels and immediate support is placed at 16480 levels. Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Domestic equities do not look to be inspiring as of now. Notably, benchmark Nifty and Sensex have been quite upbeat, while heavy selling pressure in midcap and smallcap stocks remained visible over the last couple of days. However, considering improved visibility of sustained earnings growth in subsequent quarters, a meaningful correction in quality midcap names should be bought. Binod Modi, Head Strategy at Reliance Securities
Nifty is expected to open flat around yesterday’s close at 16550. Nifty has support at 16480 and 16450 levels. On the higher side, Nifty may test 16600 and 16700 in the next few trading session. Gaurav Udani, Founder & CEO, ThincRedBlu Securities
Nifty futures fell 23 points to 16,540 on Singaporean Exchange, suggesting a negative start for BSE Sensex and Nifty 50 on Tuesday. In the absence of any major domestic event, Indian stock markets are likley to take cues from global markets. Investors will keenly watch COVID vaccination pace, crude oil prices and rupee movement against US dollar.
Read full story
Finance Minister Nirmala Sitharaman on Monday ruled out a cut in excise duty on petrol and diesel to ease prices, which have touched an all-time high, saying payments in lieu of past subsidised fuel pose limitations. Petrol and diesel as well as cooking gas and kerosene were sold at subsidised rates during the previous Congress-led UPA government.
In overnight trade on Wall Street, the Dow jumped 110.02 points to 35,625.40 and the S&P 500 gained 0.26% to 4,479.71. While Nasdaq Composite fell 0.2 per cent to 14,793.76.
Asian stock markets were trading mostly lower in early trade on Tuesday, even as Dow Jones Industrial Average and S&P 500 posted record closing highs. Japan’s Nikkei 225 gained 0.18 per cent while the Topix index slipped marginally. South Korea’s Kospi fell over half a per cent.
Finance minister Nirmala Sitharaman on Monday made it clear that the government won’t trim capital expenditure from the budgeted level even towards the end of the fiscal, as was customary earlier, as it banks on spending having high multiplier effect to reverse a Covid-induced slump in growth.
Read full story
Zomato has invested about $100 million in Grofers. Documents sourced from business intelligence platform Tofler showed that the Gurgaon-based food delivery firm has infused around $70 million (Rs 518 crore) into Grofers India and another $30 million (Rs 223 crore) in the e-grocer’s wholesale entity Hands On Trades.
Read full story