Share Market Highlights: Sensex ends above 52,900, Nifty at 15,853; Tech Mahindra, Infosys, IT stocks surge

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Updated: July 14, 2021 4:27:47 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: BSE Sensex and Nifty 50 trimmed gains, minutes ahead of the closing bell but managed to close in the green. Smallcap indices outperformed benchmarks.

Share Market Today, Share Market LiveIndia VIX ended 0.25% lower. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity market benchmarks BSE Sensex and Nifty 50 closed with gains on Wednesday, one day ahead of weekly options expiry. BSE Sensex closed 0.25% higher at 52,904 while Nifty 50 gained 0.26% to end at 15,853.95. Both the indices recovered strongly after having slipped into the red during the initial hours of trade. Maruti Suzuki, Hindustan Unilever, Nestle India, and Reliance Industries were among the top index laggards. Tech Mahindra Infosys, Larsen & Toubro (L&T), and HCL Tech were among top Sensex gainers. Barring Nifty IT, Nifty Media, Nifty Metal, and Nifty Pharma, all the sectoral indices closed in the red. Bank Nifty ended flat with a negative bias.

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Highlights

    16:27 (IST)14 Jul 2021
    Sensex rises 300 pts from day's low, Nifty ends at 15,853; here's what experts make of today's trade

    Equity indices on Dalal Street closed with gains on Wednesday, surging higher after having slipped during the initial hours of trade.S&P BSE Sensex ended 0.25% higher at 52,904 while Nifty 50 jumped 0.26% to end at 15,853.95. Tech Mahindra Infosys, Larsen & Toubro (L&T), and HCL Tech were among top Sensex gainers while Maruti Suzuki, Hindustan Unilever, Nestle India, and Reliance Industries were the top index laggards. Barring Nifty IT, Nifty Media, Nifty Metal, and Nifty Pharma, all the sectoral indices closed in the red. Bank Nifty ended flat with a negative bias. India VIX closed in the red.

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    15:33 (IST)14 Jul 2021
    CLOSING BELL

    BSE Sensex and Nifty 50 trimmed gains, minutes ahead of the closing bell but managed to close in the green. Smallcap indices outperformed benchmarks.

    15:28 (IST)14 Jul 2021
    Index heavyweights in red

    Index big-wigs such as Reliance Industries, HDFC and HDFC Bank were all down in the red ahead of the closing bell. 

    15:26 (IST)14 Jul 2021
    Bank Nifty turns red

    Bank Nifty was down in the red ahead of the closing bell, giving up all gains. The index slipped 55 points or 0.15%.

    15:25 (IST)14 Jul 2021
    Sensex, Nifty trim gains ahead of closing bell

    Sensex was trading flat with a positive bias with minutes left before the closing bell. Nifty was still holding above 15,800.

    15:15 (IST)14 Jul 2021
    Zomato IPO subscribed 57%

    Zomato's Rs 9,375 crore IPO has been subscribed 57% so far on day 1. Retail investors have oversubscribed their portion. 

    15:13 (IST)14 Jul 2021
    India VIX turns negative

    Often called the fear gauge of domestic stock markets, India VIX, fell 0.35% with minutes left before the day's closing bell. 

    15:06 (IST)14 Jul 2021
    Banking space needs to step in to help Nifty cross 15,900

    "Although recently a lot of such attempts have failed, we hope the benchmark index to surpass the sturdy wall of 15900 convincingly to reach the milestone of 16000. As we have been reiterating, if this achievement has to happen, the banking space needs to step in and yesterday lot of marquee names showed some promising signs," said Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking.

    15:01 (IST)14 Jul 2021
    Nifty Smallcap 50 outperforms

    Nifty Smallcap 50 index is outperforming broader markets and benchmarks. The index is up 0.81% ahead of the closing bell while Nifty 50 is up 0.30%.

    14:50 (IST)14 Jul 2021
    Zomato IPO aggressively priced

    'The popularity of Zomato IPO has reached the roof top as the brand has attached with the emotions of the general public while its financials and demanding price is telling a different story. There is a heat for the Zomato IPO in the market due to consumer-friendly offerings which may deliver at most 5% of listing gains as retail quota will invest more in the IPO. The IPO is aggressively priced and demanding an EV/Sales of almost 20x.  The entry of tech-giant Amazon in the food delivery business is expected to delay Zomato’s financials to turn profitable. Therefore, subscribing Zomato for long term investment is not a ‘fit and proper’ bet as it needs to prove itself on various parameters.  There is no need to gung-ho over the company and subscribe the IPO as the investors can get the platform in their investment basket at similar or lower prices as well post listing,' said Kaushlendra Singh Sengar Founder & CEO at INVEST19.

    14:48 (IST)14 Jul 2021
    Bias positive above 15,800

    "FIIs were seen covering their short positions along with Bank Nifty seeing a 7% closing in open positions. Options data saw a shift in Focus from rangebound to a positive outlook. Bias remains positive above 15,800 with supports at 15,748 and 15,690. Expect Bank Nifty to shift gears above 35,815," said Rahul Sharma, Director & Head of Resrach, JM Financial. 

    14:37 (IST)14 Jul 2021
    Mindtree share price jumps 9% post quarterly results; analysts remain mixed on outlook

    Mindtree’s share price soared 9.3% on Wednesday to trade at Rs 2,728 per share as investors reacted to the more than 61.2%  on-year jump in net profit of the IT company. While the stock price rose higher, analysts were mixed on the outlook as some advised selling the stock citing unsustainable margins, other asked investors to buy more shares banking on the accelerated digital adoption globally. Mindtree’s share price has soared 62% so far this year, in addition to the 136% rally in the stock between April and December last year.

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    14:32 (IST)14 Jul 2021
    Retail investors subscribe Zomato IPO 200%

    Zomato IPO has been subscribed 200% by retail investors so far on the first day of bidding. QIBs have subscribed 10% of their quota and NIIs have bid for 8% of the reserved portion. Employees of Zomato was bid for 7% of the portion reserved for them.

    14:05 (IST)14 Jul 2021
    Zomato IPO subscription update

    Zomato's IPO has been subscribed 41% so far. Retail investors have oversubscribed their portion 1 times while QIBs and NIIs have subscribed to their respective quotas 0.04 times and 0.07 times. 

    13:52 (IST)14 Jul 2021
    Sensex, Nifty trim gains

    Sensex and Nifty were seen trimming gains at this hour. Sensex was still in the green while Nifty 50 was above 15,800, but were down from intra-day highs. 

    13:19 (IST)14 Jul 2021
    Volatility gains

    India VIX, the volatility gauge, was up 0.91% on Wednesday. The fear gauge accompanied benchmark indices and broader markets.

    12:46 (IST)14 Jul 2021
    Sectoral watch

    Among sectoral indices, Nifty Auto, Nifty FMCG, Nifty PSU Bank, and NIfty Realty were down in the red while all other sectoral indices surged higher. Bank Nifty was up 0.07%.

    12:37 (IST)14 Jul 2021
    Clean Science and Technology IPO share allotment: How to check your shares? GMP strong; listing on July 19

    Clean Science and Technology, whose Rs 1,546.62-crore IPO subscribed 93.41 times, will finalise its basis of share allotment on Wednesday, 14 July 2021. The stocks are likely to make their share market debut next week on 19 July 2021. The initiation of refunds or unblocking of funds from ASBA accounts will take place on 15 July 2021. While the equity shares will be credited to depository accounts on 16 July 2021. The offer was sold from July 7-9, at the price band of Rs 880-900 per equity share of face value Re 1 each.

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    12:30 (IST)14 Jul 2021
    Zomato IPO witty tweets: Founder Deepinder Goyal stress eating; company posts meme one-liners

    Zomato founder Deepinder Goyal could not hide his excitement, as investors rapidly subscribe to the food delivery giant’s IPO on the first day of bidding. Deepinder Goyal took to social media website Twitter and said that he had just ordered a triple breakfast from Zomato, claiming he was stress eating as Zomato lined up to become the first homegrown tech start-up to enter the stock exchanges. Deepinder Goyal was joined by the ever-so-witty official handle of Zomato, dropping subtle one-liners in an attempt to remind people of the IPO.

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    11:52 (IST)14 Jul 2021
    Retail investors oversubscribe Zomato IPO

    Retail investors have oversubscribed their portion of Zomato's initial public offer. So far retail investors have bid for 1.09 times the portion reserved for them. QIBs are yet to arrive on the scene while NIIs have bid marginally. 

    11:18 (IST)14 Jul 2021
    GR Infraprojects IPO share allotment: Check status online, grey market premium; shares to list on July 19

    GR Infraprojects IPO share allotment is likely to be finalised on Wednesday, 14 July 2021. The Udaipur-based firm IPO was subscribed 102.58 times over the 81.23 lakh shares that were on offer. In the grey market on Wednesday, GR Infraprojects shares were quoting at a premium of Rs 590 over the issue price of Rs 828-837 per share. The shares were trading at Rs 1,427 apiece, implying a premium of over 70 per cent over the IPO price, according to the people who deal in shares of unlisted companies. GR Infraprojects will make its stock market debut on Monday, 19 July 2021.

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    10:39 (IST)14 Jul 2021
    Milk powder stockpiles up in Maharashtra on weak demand

    Excess stocks of skimmed milk powder (SMP) have become a matter of concern for Maharashtra’s milk sector. The state’s inventory of SMP has reached nearly 50,000 tonnes. As a result, dairy owners in the state say that they are not in a position to hike milk procurement prices for farmers. Dairies in the state pay farmers Rs 23-24 per litre. Before the lockdown, dairy farmers were being paid a relatively higher procurement price of Rs 30-35 per litre.

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    10:11 (IST)14 Jul 2021
    Nifty rangebound in 15,400-15900

    Once again the index has opened on a tepid note. The range-bound movement of the Nifty is challenging and testing the patience of traders! Until we do not get past either level of this range which is currently between 15400 and 15900, we will not witness momentum and a one sided trading opportunity. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    10:10 (IST)14 Jul 2021
    Analysts say Zomato IPO lucrative

    Zomato has a robust operating model and a strong market penetration, making it one of the leading food service platforms in India. It's mobile application is the most downloaded application in India, in each of the last three fiscal years. We believe a better service mix and a robust operating model will accelerate the revenue growth momentum. With growth expected to pick up in the forthcoming years after a pandemic, and the rising use of online platform, we expect the company to breakeven at operating levels in FY22, making the IPO more lucrative. Naveen Kulkarni, Chief Investment Officer, Axis Securities

    10:09 (IST)14 Jul 2021
    WPI Inflation to set Rupee direction today

    Domestically, so far rising crude oil prices and firm dollar strength have weighed on the rupee. The momentum in the USDINR pair has turned like a roller coaster ride, where global pressure could push the pair towards 74.90 levels while any steep fall can get capped on account of a channel of IPO's lined up in coming sessions. That apart, WPI inflation today will be watchful for further directional clues. As the overall sentiments remain cautious, momentum in the rupee could also be trapped within its present narrow range of 74.50-74.90 levels before any big market trigger takes it towards 75.20-75.50 levels in the upcoming time. Amit Pabari, managing director, CR Forex Advisors

    10:07 (IST)14 Jul 2021
    Gold Price Today, 14 July 2021: Gold reclaims Rs 48,000 despite subdued global cues; may rally up to Rs 48,375

    Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading higher on Wednesday, even as yellow metal traded flat in global markets. On Multi Commodity Exchange, gold August futures were trading Rs 86 or 0.18 per cent up at Rs 47,975 per 10 gram, as against the last close of Rs 47,889. MCX gold reclaimed Rs 48,000 soon after opening. MCX silver September futures were flat at Rs 69,087.

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    10:05 (IST)14 Jul 2021
    Gold Price Today, 14 July 2021: Gold reclaims Rs 48,000 despite subdued global cues; may rally up to Rs 48,375

    Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading higher on Wednesday, even as yellow metal traded flat in global markets. On Multi Commodity Exchange, gold August futures were trading Rs 86 or 0.18 per cent up at Rs 47,975 per 10 gram, as against the last close of Rs 47,889. MCX gold reclaimed Rs 48,000 soon after opening. MCX silver September futures were flat at Rs 69,087.

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    09:39 (IST)14 Jul 2021
    Maruti Suzuki, Axis Bank, HDFC top Sensex losers

    Maruti Suzuki, Axis Bank, Housing Development Finance Corporation (HDFC), ICICI Bank, Kotak Bank were among top index laggards

    09:33 (IST)14 Jul 2021
    Bank Nifty down over 0.5%

    Barring Nifty IT, Nifty Media and Nifty Pharma, all the sectoral indices were trading in the red. Bank Nifty was down over half a per cent, while Nifty Financial Services fell 0.5 per cent

    09:29 (IST)14 Jul 2021
    L&T, Infosys, TCS, HCL Tech top Sensex gainers

    Larsen & Toubro (L&T), Tech Mahindra HCL Tech, Sun Pharma, Power Grid Corporation of India, TCS, Infosys were among top Sensex gainers.

    09:22 (IST)14 Jul 2021
    Sensex, Nifty fall in opening deals

    BSE Sensex was trading 88 points or 0.17 per cent down at 52,682, while the Nifty 50 index gave up 15,800 in the opening deals

    08:57 (IST)14 Jul 2021
    Nifty appears to be consolidating in 15,600-15,900 range

    Domestic markets look to be soft as of now. Notably, benchmark Nifty appears to be consolidating in the range of 15,600-15,900. However, we continue to believe that any meaningful correction in the market should be taken as an opportunity to get in quality stocks. Visible improvement in key economic data including IIP, import-export business momentum and visible traction in overall economic activities in June indicate healthy corporate earnings for 1QFY22E despite second wave of COVID-19. Further, announcement of slew of measures by Finance Ministry to spur economic activities augurs well. In our view, progress of monsoon, 1QFY22E corporate earnings and COVID-19 positivity rates will be in focus in the near term. Further, higher government’s capex and revival in industrials’ capex should aid economic recovery. Binod Modi, Head Strategy at Reliance Securities

    08:56 (IST)14 Jul 2021
    Buy HDFC, Axis Bank, Lupin, M&M stocks to pocket gains; Nifty support at 15,700-15,750

    On Wednesday 15900/15930 (53000/53100) would be major hurdles and support would be at 15730/52500 and 15700/52400 levels. Buying on dips would be the ideal strategy for the trades. Sector-specific, uptrend continuation texture likely to continue in the Banking and Metal stocks.

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    08:38 (IST)14 Jul 2021
    Sensex, Nifty may mirror global markets; 5 things to know before today's opening bell

    Domestic equity markets resumed moving upwards yesterday as Sensex and Nifty surged 0.76% each on Tuesday. S&P BSE Sensex closed the day’s trade at 52,769 while the 50-stock NSE Nifty was at 15,812. On Wednesday morning, SGX Nifty was down in the red signalling some weakness ahead of the opening bell. Global cues were negative after Wall Street equity indices ended in the red. Asian peers were also down with losses. Technical analysts continue to see upside potential for domestic markets. “One may expect further upside towards 15900-15915 levels in the short term before showing next round of consolidation,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

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    08:37 (IST)14 Jul 2021
    Infosys, Zomato IPO, Vodafone Idea, Dodla Dairy, Barbeque-Nation, Mindtree, NTPC stocks to watch

    BSE-listed companies such as Infosys, Dodla Dairy, Craftsman Automation, L&T Technology Services, 5paisa Capital, Alliance Integrated Metaliks, Essar Securities, Hatsun Agro Product, Mishtann Foods, Tasty Dairy Specialities, Tinplate Company of India, and Vikas EcoTech will release quarterly earnings on July 14.

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    08:23 (IST)14 Jul 2021
    Zomato raises Rs 4,200 cr pre-IPO from Tiger Global, JP Morgan, Goldman Sachs, other anchor investors

    Zomato, the online food delivery behemoth, has managed to raise Rs 4,196 crore from a total of 186 anchor investors just ahead of its initial public offering (IPO) which opens today. Marquee investors such as Tiger Global Investment Fund, Blackrock Global Funds, Fidelity Funds, JP Morgan, Morgan Stanley, T. Rowe Price, SBI, Kotak funds, Government of Singapore, Goldman Sachs, ICICI, HDFC, and UTI MF have invested in the company through the anchor investor portion. Zomato plans to raise Rs 9,375 crore in the IPO (including anchor investments), comprising a fresh issue and an offer for sale by existing investors.

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    08:07 (IST)14 Jul 2021
    Should you subscribe to Zomato IPO for listing gains?

    Zomato, India’s homegrown unicorn, would be the first of many Indian tech startups to list on the stock exchanges. Naukri.com’s parent company, Info Edge holds a stake of about 18.55 per cent in the food delivery platform. The average cost of acquisition of equity shares for the selling shareholders is Rs 1.16 per equity share. The weighted average return on net worth for the last three fiscals is 49.09 per cent. Research and brokerage firms such as Motilal Oswal Financial Services and Ventura Securities have ‘subscribe’ rating, while Kotak Securities and Axis Securities have not given ratings to the IPO.

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    08:06 (IST)14 Jul 2021
    US stocks slip in overnight trade

    Bond yields jumped and global share prices slipped after posting new highs on Tuesday as the biggest hike in US inflation in 13 years rattled investors. The Dow Jones Industrial Average fell 0.31 per cent, the S&P 500 lost 0.35 per cent and the Nasdaq Composite dropped 0.38 per cent.

    08:05 (IST)14 Jul 2021
    Asian stock markets fall

    Asian stock markets were mostly trading in the red in the early morning trade on Wednesday. Japan’s Nikkei 225 fell 0.14 per cent while the Topix index was flat. South Korea’s Kospi dipped 0.26 per cent.

    08:05 (IST)14 Jul 2021
    Zomato raises Rs 4,197 cr from 186 anchor investors ahead of IPO

    Food delivery platform Zomato raised Rs 4,197 crore from 186 anchor investors on Tuesday ahead of IPO. The company has allotted 55.22 crore equity shares to anchor investors for Rs 76 per equity share. Zomato’s Rs 9,375 crore initial public offering is set to open on Wednesday amid buzz of strong response from global institutional investors.

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