MARKET UPDATE: Sensex slipped 85 points at 52,752 levels and Nifty tested 15,750-mark, down 49 points

Friday, July 23, 2021
Indian equity markets erased gains and traded 0.3 percent lower in morning deals today(23rd July 2021). After a positive start, the S&P BSE Sensex slipped 85 points at 52,752 levels while the broader Nifty50 tested 15,750-mark, down 49 points. The broader markets, meanwhile, were mixed. Sectorally, all except the Nifty IT and Pharma indices were in the red, led by the Nifty Realty and Bank indices, down 0.5 percent and 0.3 percent, respectively. Forty-one companies, including RIL, JSW Steel, SBI Card, YES Bank, and Federal Bank will report their quarterly numbers today. Analysts expect improvement in RIL's energy margins on the back of a pickup in global demand to support the consolidated performance of Reliance Industries in the first quarter. However, the gains are also expected to be offset by the challenges in the retail and petrochemicals businesses, and a flattish show in telecom.

Drop in crude prices has a positive impact on paint stocks

Thursday, July 22, 2021
Brent Crude prices have crashed 15 percent from the peak of $77.80 a barrel level and are currently trading around $72 a barrel after recovering from the low of $67.42 hit earlier in the week. This drop in crude price has a positive impact on paint stocks. Hence, the stocks of Asian Paints, Berger Paints, and Pidilite Industries have scaled news highs in trade today(22nd July 2021). Even on a year-to-date (YTD) basis, their performance has been noteworthy with Pidilite Industries rallying 32 percent and Asian and Berger Paints up 15 percent each, data available with ACE Equity shows. The tech charts signals for some of these shares are: ASIAN PAINTS LTD Likely target: Rs 3,500 Upside potential: 11 As long as the support of the 50-days moving average (DMA) is held firmly, placed at Rs 2,958-mark, the upside sentiment is expected to surge. Read more

Sensex climbs 639 pts, Nifty tops 15,800;Signs of a strong corporate earnings season lifted demand for risky equities

Thursday, July 22, 2021
Taking cues from firm global markets, the Indian market witnessed robust momentum shrugging off concerns over the spread of Covid-19 and FII selling. Global markets continued to hold onto their gains owing to solid earnings reports and turned their focus on the ongoing European Central Bank’s policy announcement. A confirmation by Fed to continue its supportive policy in the upcoming meet despite rising inflationary pressure will be a key factor in maintaining the direction of the rally. The benchmark indices snapped their three-day losing run and closed over a percent higher today(22nd July 2021). The headline S&P BSE Sensex index closed the session at 52,837 levels, up 639 points while the broader Nifty50 shut shop at 15,825, up 193 points. The broader markets, on the other hand, outperformed and rallied over 1.5 percent higher each. Read more

Closing Bell:Sensex gains, 639 points, Nifty at 15824.05

Thursday, July 22, 2021
At close, the Sensex was up 638.70 points or 1.22% at 52,837.21, and the Nifty was up 191.90 points or 1.23% at 15,824 on the back of positive global cues. Tech Mahindra was the top gainer followed by Bajaj Finance, Bharti Airtel, and Bajaj Finserv. Only HUL, Bajaj Auto, Asian Paints, and Mahindra & Mahindra closed with losses. About 2131 shares have advanced, 1054 shares declined, and 128 shares are unchanged. The Nifty Metal index added over 3 percent on the NSE, trailed by the Nifty IT and Realty indices, up around 2 percent each. Except for FMCG, all other sectoral indices ended in the green.BSE midcap and smallcap indices rose 1.5 percent each. India VIX closed 10% lower.

MARKET UPDATE: Sensex was at 52,619 levels, up 420 points, and Niftyhovering around 15,750-mark, rising 124 points

Thursday, July 22, 2021
Indian markets started gap-up today(22nd July 2021) amid broad-based buying, bolstered by strong gains in global markets. The frontline S&P BSE Sensex was at 52,619 levels in early deals, up 420 points, while the Nifty50 index was hovering around 15,750-mark, rising 124 points. Australia’s S&P/ASX 200 index rose 0.9 percent in global markets, South Korea’s Kospi index increased 0.9 percent while Japan was closed for a holiday. S&P 500 and Nasdaq futures also traded firm. Forty-four companies including Hindustan Unilever, Bajaj Auto, Ultratech Cement, Biocon, Hindustan Zinc, IIFL Securities, IndiaMART InterMESH, and Wockhardt will release their quarterly earnings today.

algo trading: New trading strategy for retail investors

Wednesday, July 21, 2021
Many retail investors have now begun to participate in algo trading, which was available only to institutional investors till a few years ago. The quant (the person who creates the algorithm or algo) studies historical data to come up with certain trading rules that he believes will make money. He then builds the algo, software that has those rules coded in, which then scans the market. Whe­n­e­ver the conditions that ha­ve been coded are met, it ge­nerates buy and sell signals. To access this, traders have to enroll on platforms that offer algo trading strategies, like Rain Technologies, Tradetron, Squareoff, AlgoBulls. The trader also needs to enroll with a broking firm that offers API (application programming interface) integration. An API gathers the signals generated by the trading platform and executes them in the trader’s broking account. Zerodha, Fyers, Upstox, Samco, 5paisa, among others offer API integration. Read more

Asian Paints rallies 7% after quarter 1 result

Tuesday, July 20, 2021
Shares of Asian Paints rallied by 7 percent at Rs 3,178, hitting a fresh record high on the BSE in the intra-day trade on Tuesday, after the company's net profit more than doubled to Rs 574.3 crore against Rs 219.6 crore year-on-year. The Company's consolidated profit after tax (PAT) was Rs 574 crore for the quarter ended June 2021 (Q1FY21) on the back of a strong operational income. The company had posted a PAT of Rs 218.45 crore in the previous corresponding period (Q1FY20). However, the profit figure was below market expectations as a CNBC-TV18 poll of analysts had expected profit at Rs 721 crore for the quarter. Revenue jumped 91.1 percent YoY to Rs 5,585.4 crore for the said quarter against Rs 2,922.7 crore in Q1FY21.“The domestic decorative business more than doubled its volume and delivered stellar revenues over the lower base of last year, which had suffered from the first nationwide lockdown,” said Amit Syngle, managing director and chief executive officer at Asian Paints. Read more

Smallcap funds make for a good investment choice now

Tuesday, July 20, 2021
Smallcap companies are those that have a market capitalisation of less than the 250th stock on the stock exchange. With economic data improving, the corporate profitability of smallcap companies can be expected to improve. Investors looking for decent returns and having a higher risk tolerance can look to invest in small caps. When it comes to mutual funds, schemes that invest at least 65% of their portfolio in smallcap stocks can be deemed as smallcap funds. There are over 4,500 smallcap companies listed on the stock exchange in India. Though they have the potential to give investors good returns, it is advisable to stay invested in them for the long term to mitigate the risks. Actively managed to smallcap funds can outperform other segments of the market, especially during phases of economic recovery or growth. Historically too, the smallcap funds have managed to outperform other segments. Read more

Closing Bell: Sensex down 354 points, Nifty at 15632.10

Tuesday, July 20, 2021
At close, the Sensex was down 354.89 points or 0.68% at 52198.51, and the Nifty was down 120.30 points or 0.76% at 15632.10 for the third consecutive session in July 20 dragged by the metal, realty, and financial names. Asian Paints was the top Sensex gainer, followed by Ultratech Cement, Bajaj Auto, HUL, Nestle India, Maruti, TCS, Infosys, and Bajaj Finserv. On the other hand, IndusInd Bank was the worst Sensex performer, followed by Tata Steel, and Bharti Airtel. About 1109 shares have advanced, 2056 shares declined, and 107 shares are unchanged. Among sectors, except FMCG all other indices ended lower. BSE Midcap and Smallcap indices fell over 1 percent each. India VIX gained 4.18%.

India's economic fundamentals strong, recovery underway: HDFC Chairman

Tuesday, July 20, 2021
"Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger,” according to HDFC Chairman Deepak Parekh. However, in terms of the overall macroeconomic environment, “the key challenge remains the unpredictability of the virus. The world is still susceptible to recurring waves of infections. Thus, economic recovery will remain uneven and patchy,” he said. There are a couple of factors working in favour of India. The foreign exchange reserves and foreign direct investment inflows are at a record high, agriculture growth is expected to remain strong with foodgrains estimated at over 305 million tonnes. RBI’s accommodative stance and government measures to alleviate covid-related stress would also help in the recovery, Parekh said.

This correction is good for the markets

Tuesday, July 20, 2021
The 725 points cut in the Dow yesterday(19th July 2021) is a reflection of the risk-off in markets globally. The rising Covid cases in the US and UK due to the delta variant, inflation concerns, and concerns about growth coming below consensus expectations, are some of the major concerns. It may be all these. The fact is that at high valuations when investors are sitting on big profits, any fear can trigger profit booking and corrections. This correction is good for the markets. In the absence of corrections, the excessive valuations will render the inevitable crash very severe and painful. A major correction is unlikely in India since we have already corrected a bit from the recent record high. Investors may opt for the safety of performing sectors with earnings visibility like IT, pharma, metals, cement, capital goods, and large financials.

MARKET UPDATE: Sensex quoted at 52,351 levels, down 202 points and Nifty at 15,715, down 37 points

Tuesday, July 20, 2021
Indian equity markets opened lower for the second straight day today(20th July 2021) as investors turned pessimists over the rising Delta variant of Covid-19 cases globally, fear of possible lockdown, and the impact of rising inflation on economic recovery. The S&P BSE Sensex quoted at 52,351 levels in early deals, down 202 points while the Nifty was at 15,715, down 37 points. In the broader markets, the BSE MidCap and SmallCap indices were mixed. In global markets, equities fell in Japan, Australia, and South Korea on Tuesday but the drops were orderly. Japan’s Topix index fell 1%, Australia’s S&P/ASX 200 index fell 0.9% and South Korea’s Kospi index fell lost 0.4%. S&P 500 and Nasdaq futures, meanwhile, gained 0.4% each. Thirty-three companies, including Asian Paints, Bajaj Finance, Crisil, and Network 18 are slated to post their June quarter results today.

Analysts see Burger King India stock as a multibagger

Monday, July 19, 2021
The quick-service restaurants (QSR) are in a comfortable position to tap the growth in the Indian foodservice industry, with Covid acting as a strong tailwind, say analysts. While they expect Jubilant Foodworks, the master franchisee for Domino's Pizza in India, to be the most profitable and efficient of the lot, its expensive valuations at 177x FY21 P/E is a key concern. They, however, find more comfort in Burger King India amid expectations of swift expansion in topline and margins. Some analysts expect Burger King India to rise as much as 117 percent in the next three years. They have a target price of Rs 365 per share, assuming 25x multiple. "Burger King will enjoy an attractive opportunity for both topline and margin expansion, led by a big shift in its business model through the introduction of 'barbell' product strategy and BK Café. In addition, aggressive store network expansion and capped royalty rate will also be key drivers of EPS growth," say the experts.

Global sell-off: Investors lose Rs 1.2 trillion as Sensex drops 587 pts

Monday, July 19, 2021
Indian benchmark indices plunged today(19th July 2021) joining the global sell-off on unchecked virus surge in parts of Asia and faltering economic growth. Metal and banks were among the biggest losers on indices. The 30-share pack Sensex declined 586.66 points or 1.1 percent to close at 52,553.40.NSE Nifty dipped 171 points or 1.07 percent to 15,752.40. During the sell-off, equity investors lost Rs 1.16 lakh crore as the total market capitalization of BSE-listed companies rose to Rs 234.46 lakh crore. "Shadowing global sell-off, Indian indices slipped, succumbing to world inflation woes, FOMC meeting next week and rising covid cases. Banks led the domestic downtrend as initial quarterly results pointed to cautious asset quality due to the impact of the second wave,” said an expert. Read more

Adani shares fall up to 5% as it faces Sebi, DRI probe over compliance

Monday, July 19, 2021
Shares of Adani Group stocks fell up to 5 percent in intraday trade on July 19 after Minister of State for Finance Pankaj Chaudhary said in Parliament today that the directorate of revenue intelligence and SEBI (Securities and Exchange Board of India) are probing some entities of the Adani group about compliance with the SEBI regulations. It was not immediately clear when the investigation was launched. The minister did not name which companies were involved. He also alleged that the Enforcement Directorate is not probing companies holding FPIs based on day-to-day trading of shares. A month ago, Adani Group had quashed reports about the National Securities Depository Ltd (NSDL) freezing three foreign portfolio investors (FPIs) related to the group. Adani Group CFO Jugeshinder Singh told CNBC-TV18 that it was "a malicious attempt to push a patently false story". Read more

Closing Bell: Sensex down 586 points, Nifty at 15752.40

Monday, July 19, 2021
At close, Sensex was 587 points, or 1.10 percent, down at 52,553.40 while the Nifty settled 171 points, or 1.07 percent, lower at 15,752.40 as potential third waves in the US and the UK, and a spike in coronavirus cases in Japan and Australia despite lockdown-like restrictions, stalled growth rally.HDFC Bank was the top loser followed by IndusInd Bank and Axis Bank. NTPC was the top Sensex gainer, followed by Nestle India, Dr. Reddy’s, Sun Pharma, ITC, and Ultratech Cement. The Nifty Bank index declined over 2 percent. The BSE MidCap and SmallCap indices fell 0.58 percent and 0.31 percent, respectively. India VIX closed 8% higher.

MARKET UPDATE: Sensex declined 360 points to trade at 52,781 levels and Nifty started with a 100-pts cut at 15,823

Monday, July 19, 2021
Due to concerns about the impact of elevated inflation and Covid-19 outbreaks on economic prospects weighs on sentiment, Dalal Street clocked a gap-down start today(19th July 2021). The benchmark S&P BSE Sensex declined 360 points in early deals to trade at 52,781 levels while the Nifty50 started with a 100-pts cut at 15,823. The BSE MidCap and SmallCap indices slipped 0.4 percent and 0.3 percent in the broader market, respectively. All the key sectoral indices were in the red. The Nifty Bank index was the top loser, down 1.5 percent. Twenty-five companies including ACC, HCL Technologies, HDFC Life, Indian Bank, and Mastek are slated to post their June quarter numbers today. Read more

Paytm to be the top 10 most-valued financial stocks in India

Friday, July 16, 2021
Digital payments major Paytm will be amongst the top 10 most-valued financial (banks included) stocks in the country when it gets listed later this year. According to investment banking sources, the company is looking at a valuation of between $20 billion and $25 billion in the initial public offering (IPO). The parent company of Paytm, One97 Communications, today(16th July 2021) filed its draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India. The company is looking to raise Rs 8,300 crore by issuing fresh shares in its maiden stock market offering. The IPO will also comprise Rs 8,300 crore worth of secondary share sale from existing shareholders, including founder Vijay Shekhar Sharma, China’s financial powerhouse Ant Financial and e-commerce giant Alibaba. Read more

Paytm files draft paper for ₹16,600 crore IPO with SEBI

Friday, July 16, 2021
Paytm, digital payments and financial services firm has filed a draft red herring prospectus (DRHP) with market regulator SEBI, to launch Rs 16,600-crore IPO.The Paytm IPO would comprise a fresh issue of shares worth Rs 8,300 crore ($1.1 billion) and an equally large secondary share sale, the Noida-based fintech startup has told the Securities and Exchange Board of India (Sebi). On Monday, Paytm received the approval of its shareholders to raise capital through IPO, which is billed to be the country's biggest public offer of ₹16,000. "Shareholders have approved all the proposals at the extraordinary general meeting. The shareholders have approved the proposal to raise capital and the fresh issue of shares of up to ₹12,000 crore during the IPO. The secondary raise will bring the total to ₹16,600 crore," news agency PTI reported, citing a source. Read more

Closing Bell:Sensex down 19 points, Nifty at 15923.40

Friday, July 16, 2021
At Close Sensex closed 19 points, or 0.04 percent, lower at 53,140.06 while the Nifty finished flat at 15,923.40.ITC, Asian Paints, RIL, Sun Pharma, Bharti Airtel, Power Grid Corporation of India, Tata Steel, HDFC were among the top index gainers. On the flip side, Larsen & Toubro, Infosys, ICICI Bank, IndusInd Bank, Axis Bank, HCL Tech, Tech Mahindra, Maruti were top index draggers. Nifty Bank index was down 0.20 percent, and Nifty IT was flat with a negative bias. Nifty Pharma, and Nifty reality, however, was up nearly one percent and the Nifty Metal index gained half a percent. The mid-and small-cap indices meanwhile, outperformed and ended over 0.4 percent higher each

MARKET UPDATE: Sensex traded at 53,215 levels, up 56 points and Nifty at 15,949 levels, up 25 points

Friday, July 16, 2021
Indian equity markets sustained their uptrend today(16th July 2021) despite the weak global trends and the benchmark indices hitting a new record high in intra-day deals. The S&P BSE Sensex traded at 53,215 levels, up 56 points or 0.11 percent while the Nifty50 was at 15,949 levels, up 25 points. In the intra-day trade, the indices touched new lifetime highs of 53,291 and15,962.25, respectively. The BSE MidCap and SmallCap indices advanced 0.11 percent and 0.38 percent in the broader market, respectively. Read more

Infosys hits record high; zooms 103% in one year

Thursday, July 15, 2021
On the BSE in the intra-day trade today(15th July 2021) Shares of Infosys hit a fresh record high of Rs 1,597.25, up 1.3 percent. The country’s second-largest IT services player yesterday raised its revenue growth guidance for the financial year 2021-22 (FY22) buoyed by a robust deal pipeline. The stock surpassed its previous high of Rs 1,590.85 touched on June 30, 2021. In the past year, Infosys has outperformed the market by zooming 103 percent, as compared to a 47 percent rally in the S&P BSE Sensex. Infosys now expects its revenue to grow by 14-16 percent in FY22, up from the earlier estimate of 12-14 percent. This guidance is ahead of the one-percentage-point increase analysts were estimating. The company, however, maintained margin guidance at 22-24 percent in FY22. Analysts expect Infosys to deliver another year of an ongoing guidance raise as the current one does not fully factor in strong technology demand and execution of its record high deal wins. Read more

Sensex hits record high; IT stocks extend rally

Thursday, July 15, 2021
Market bulls lifted indices to fresh record highs today(15th July 2021) as investors bought realty and IT stocks. The frontline S&P BSE Sensex index ended at a new closing peak of 53,159 levels, up 255 points or 0.48 percent while the Nifty50 index shut shop at 15,924-mark, up 74 points or 0.47 percent. The reassurance by the US Fed to keep interest rates near zero uplifted morale. IT stocks continued to be in demand while auto stocks saw profit booking. IT results out so far including that of majors like TCS NSE -0.36 % and Infosys NSE 0.25 % indicate a strong order pipeline, emboldening the companies to raise their revenue guidance to 14 to 17 percent. This augurs well for the industry and can invite further, said analysts. Read more

L&T Technology zooms 19 percent After Profit Jumps 84% In June Quarter

Thursday, July 15, 2021
Shares of L&T Technology Services (LTTS) zoomed 19 percent to a record high of Rs 3,471.95 on the BSE in intra-day trade on Thursday after the company reported better-than-expected June quarter (Q1FY22) results. The company's net profit surged 84 percent year-on-year in the June quarter as its profit came in at ₹ 117.3 crores in the corresponding period of the previous fiscal year. The technology services company's revenue from operations during the quarter stood at ₹ 1,518 crores, compared to ₹ 1,294.7 crores in the year-ago period, marking a growth of 17 percent annually, according to a regulatory filing by the firm to the stock exchanges. The company said that it could expand the margins because of levers like higher digitalization, he said adding that the quantum of work done offshore has also increased to 58 percent of the billing as against 50 percent before the pandemic. Read more

Closing Bell: Sensex gains 255 points, Nifty at 15924.20

Thursday, July 15, 2021
At Close, the Sensex closed 255 points, or 0.48 percent, higher at 53,158.85 while the Nifty settled with a gain of 70 points, or 0.44 percent, and hits fresh closing high at 15,924.20.L&T, HCL Tech, Tech Mahindra, HDFC Bank, Dr. Reddy’s Laboratories, Infosys, RIL, HUL were among top Sensex gainers. Titan Company, Mahindra and Mahindra, Housing Development Finance Corporation (HDFC), Asian Paints, ITC, Maruti were top index laggards. Nifty Realty emerged as the top sectoral gainer, closing 4.20 percent higher, followed by Nifty IT which rose 1.29 percent. Nifty Auto down 0.40 percent, media down 0.35 percent, PSU bank down 0.33 percent, and pharma down 0.27 percent. The BSE MidCap and SmallCap indices added 0.3 percent and 0.4 percent, respectively.

MARKET UPDATE: sensex at 53,067 levels, up 160 points and Nifty up 41 points, to quote at 15,895 levels

Thursday, July 15, 2021
Indian benchmark indices saw modest gains on Dalal Street today(15th July 2021) amid mixed global cues. The frontline S&P BSE Sensex was at 53,067 levels, up 160 points or 0.31 percent. It's NSE counterpart, Nifty50, added 41 points, or 0.26 percent, to quote at 15,895 levels. Shares of Infosys added 1 percent in early deals as the IT major raised its revenue growth guidance for FY22 to 14-16 percent from an earlier estimate of 12-14 percent. L&T, HCL Tech, and Tech M were the other top gainer on the BSE barometer. The BSE MidCap index added 0.25 percent while the BSE SmallCap index advanced 0.63 percent. Twenty-two companies, including Wipro, Angel Broking, Tata Elxsi, L&T Infotech, and Cyient are slated to post their quarterly numbers today. Read more

Mindtree Surges 9 percent, post quarterly results

Wednesday, July 14, 2021
Shares of Mindtree surged 9 percent to hit a new high of Rs 2,721 on the BSE in intra-day trade on Wednesday after the information technology (IT) consulting and services company reported a healthy set of numbers for the quarter ended June 2021. Mindtree's Q1 net profit rose to ₹343.3 crores, up reported a 61% YoY and 8% QoQ. Its revenue in dollar terms came at $310.5 million, witnessing a growth of 7.7% quarter-on-quarter (QoQ) and 22.6% YoY. The IT company recorded its highest-ever order book of half a billion US dollars, a growth of 34% QoQ. The company said it is witnessing broad-based growth across industries and services and that its deal pipeline continues to remain strong. “We are pleased to report a strong start to FY22 with broad-based first-quarter growth across all service lines and industry segments," said Debashis Chatterjee, chief executive officer, and managing director, Mindtree. Read more

Top cryptocurrency prices today: Bitcoin tanks 8%

Wednesday, July 14, 2021
Most major cryptocurrencies plunged today(14th July 2021) as bears continue to push prices lower. Barring US dollar-pegged coins, the top 10 traded cryptocurrencies were down up to 25 percent in the last 24 hours. Bitcoin was down 8 percent while Ethereum tanked 21 percent. Binance Coin, XRP, and Cardano were also down in double digits. Interestingly, the sell-off happened at a relatively higher volume, meaning this trend may continue for some time, said analysts. Analysts believe the upcoming Grayscale unlockings, coupled with the Taproot upgrade, is likely to lead to an increased buying by wealthy investors and BTC whales. Read more

Closing Bell: Sensex gains 134 points, Nifty at 15853.95

Wednesday, July 14, 2021
The BSE Sensex closed the day at 52,904.05, up 134 points or 0.25 percent while the Nifty settled 42 points, or 0.26 percent, up at 15,853.95. Tech Mahindra Infosys, Larsen & Toubro (L&T), and HCL Tech were among the top Sensex gainers while Maruti Suzuki, Hindustan Unilever, Nestle India, and Reliance Industries were the top index laggards. The Nifty IT index was the best sectoral index today, up 3 percent on the NSE. 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. The BSE MidCap and SmallCap indices added 0.21 percent and 0.45 percent, respectively. Zomato has subscribed 57 percent till 3:30 PM on the first day of the issue.

Wholesale inflation eases to 12.07% in June

Wednesday, July 14, 2021
India's wholesale inflation moderated to 12.07 percent in June from a record high of 12.94 percent in May amid a sustained rise in fuel and commodity prices, data released by the government today(14th July 2021) showed. Wholesale inflation came in at (-) 1.81 percent in June 2020, due to the implementation of a stringent nationwide lockdown. “The high rate of inflation in June 2021 is primarily due to low base effect and rise in prices of mineral oils viz. petrol, diesel (HSD), naphtha, ATF, furnace oil, etc, and manufactured products like basic metal, food products, chemical products, etc as compared to the corresponding month of the previous year,” an official statement said. Read more

Zomato IPO subscribed 56% on Day One

Wednesday, July 14, 2021
The Rs 9,375 crore Zomato IPO saw a strong investor response today(14th July 2021) as the issue crossed the half-way-mark by 3 pm on the first day of bidding. By 3 pm, the issue had attracted bids for 39,98,37,165 shares, which was 56 percent of the issue size of 71,92,33,522 shares. “The average order value of food delivery is consistently growing at 10 percent for last 2 years for the company with a good market share. However, Zomato's valuation at 25 times FY21 EV/sales versus 10 times for global peers and 12 times for Indian QSRs look on the expensive side." experts say. The experts are of the opinion that the listed peer group trades at hefty valuations. "Even as no profits are generated, they can sustain those market valuations based on user experience, market position and tech platforms," thry said. Read more

MARKET UPDATE: Sensex dipped 135 points to quote at 52,633 levels and Nifty hovering just above 15,750-mark, down 44 points

Wednesday, July 14, 2021
Indian benchmark indices were trading lower today(14th July 2021), tracking mixed cues from other Asian markets. The frontline S&P BSE Sensex dipped 135 points, or 0.26 percent, to quote at 52,633 levels. Its NSE counterpart Nifty50, on the other hand, was hovering just above the 15,750-mark, down 44 points. In the broader market, the BSE MidCap index and SmallCap indices were up 0.06 percent and 0.32 percent, respectively. Sectorally, the Nifty IT index advanced over 1 percent while the Nifty Financial Services index dropped 0.6 percent. Nineteen companies including Infosys, 5paisa Capital, Craftsman Automation, Dodla Dairy, L&T Technology Services, and Hatsun Agro Product are slated to post their quarterly earnings today. Read more

Banks, financials lift Sensex nearly 400 points

Tuesday, July 13, 2021
Bulls were in control today and market breadth was buoyant. Expectations of a good quarter for Textile exporters aided by a weak rupee kept several companies in this space buzzing through the day. Profit booking in several Largecaps & High-Quality Midcaps was witnessed. The 30-share pack Sensex climbed 397.04 points or 0.76 percent to close at 52,769.73. Its broader peer NSE Nifty rose 119.75 points or 0.76 percent to 15,812.35. Read more

Info Edge shares down 5 percent ahead of Zomato IPO launch from July 14-16

Tuesday, July 13, 2021
Shares of Info Edge (India) fell almost 5 percent to Rs 5138.15 per share in intraday trade on BSE on July 13 a day ahead of the Zomato IPO's opening for the public subscription.Info Edge holds a stake of about 18.55 percent in the food delivery platform. The share sale comprises a fresh issue of shares worth Rs 375 crore and an offer for sale of Rs 9,000 crore by its current promoter Info Edge India Ltd. Total of 65 lakh shares have been reserved for employees of the company. Zomato is all set to begin its listing journey on exchanges with an initial public offer (IPO) launch from July 14, 2021, which will be open for the next three days till July 16, 2021. The Rs 9375 crore IPO has a price range of Rs 72-76 per share.

Closing Bell:Sensex gains 397 points, Nifty at 15812.35

Tuesday, July 13, 2021
At Close, the BSE Sensex closed 397 points, or 0.76 percent, higher at 52,769.73 while the Nifty ended with a gain of 120 points, or 0.76 percent, at 15,812.35 lifted primarily by financial stocks. Besides, better-than-expected Chinese export data, which pushed global stocks to record high, further lent support to the markets.ICICI Bank, Housing Development Finance Corporation (HDFC), Axis Bank, Sun Pharmaceuticals, NTPC, Mahindra & Mahindra, and HDFC Bank were among the top index gainers. On the flip side, HCL Tech, Dr. Reddy’s Laboratories, Maruti Suzuki, Tech Mahindra, HUL, TCS, and Infosys were among the top laggards. The BSE MidCap index ended flat while the BSE SmallCap index advanced 0.4 percent. Barring Nifty FMCG, IT, and Media, all the sectoral indices ended in the green. Nifty Bank index gained 1.4 percent while Nifty Financial Services gained 1.5 per cent.

Investors need to be careful reg.current excitement in small-caps

Tuesday, July 13, 2021
The global stock market rally continues unabated with the Dow, Nasdaq, S&P 500, and the pan European Stoxx 600 again setting new record highs. It looks like markets are currently ignoring valuation concerns. The fact that 583 stocks, mostly mid and small-caps were locked in the upper circuit yesterday is an indication of the frenzied retail activity in markets. These are warning signals to investors. However, the news from the inflation front is positive with June CPI coming at 6.26% against an expectation of 6.5%. This gives room for the RBI to continue on the accommodative mode further strengthening the bulls. While remaining invested in high-quality stocks investors should be careful regarding investments in small-caps, according to market analysts.

MARKET UPDATE: Sensex gained 237 points to quote at 52,609 levels and Nifty held above the 15,750-mark, up 78 points

Tuesday, July 13, 2021
Indian markets opened with modest gains today(13th July 2021) amid across-the-board buying. The benchmark S&P BSE Sensex gained 237 points, or 0.45 percent, in early deals to quote at 52,609 levels. The Nifty50, on the other hand, held above the 15,750-mark, up 78 points. ICICI Bank, Bajaj Finance, L&T, HDFC, and Tata Steel were the top gainers on the 30-share barometer while Tech M, HCL Tech, Bajaj Finserv, and Infosys slipped the most. Sectorally, the Nifty Realty index was leading with the most gains on the NSE. In the broader markets, the BSE MidCap and SmallCap indices rallied 0.35 percent and 0.65 percent, respectively. Among these, the SmallCap index hit a fresh record high of 26,263 in the intra-day trade. Eight companies including Mindtree, Tata Metaliks, Deccan Health Care, Shree Ganesh Remedies, and WS Industries will release quarterly earnings today.

Revival uncertain, Which stock to bet on -IT, pharma or consumer stocks?

Monday, July 12, 2021
Clearly, the market has been able to take the Second Covid Wave in stride, and very strong liquidity continues to flow into the markets. In addition to that, some of the very short-term high-frequency indicators have been pretty much positive and have been in strong momentum. On the whole, the market has essentially been able to take any kind of softness in the June quarter numbers and is willing to look at the second half of this financial year and beyond. The markets probably are more in a medium-term mindset, the experts feel. Read more

Flipcart is valued now at $37.6 after raising $3.6 bn in funding

Monday, July 12, 2021
E-commerce company Flipkart Group said it has raised $3.6 billion in funding in a round led by international groups that included Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2, and Tiger Global. The investment values Flipkart at $37.6 billion post-money. The round also saw participation from other sovereign funds including DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, and marquee investors Willoughby Capital, Antara Capital, Franklin Templeton, Tencent, and Tiger Global. The investment values the Group at USD 37.6 billion (about Rs 2.79 lakh crore) post-money, Flipkart said in a statement. 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. Read more

Closing Bell:Sensex ends flat, Nifty at 15692.60

Monday, July 12, 2021
At close, the Sensex was down 13.50 points or 0.03% at 52372.69, and the Nifty was up 2.80 points or 0.02% at 15692.60 ends 327 pts down from the day’s high. UltraTech Cement, ICICI Bank, Maruti Suzuki, State Bank of India (SBI), Axis Bank, Kotak Mahindra Bank among the top index gainers. Bajaj Finserv, HDFC Banka, and Hindustan Unilever Ltd (HUL) were top Sensex laggards. About 1889 shares have advanced, 1163 shares declined, and 149 shares are unchanged. The Nifty Realty index zoomed 3.6 percent on the NSE while the Nifty IT index slipped 0.4 percent. Nifty Auto indices ended in the green.The BSE MidCap and SmallCap indices rallying 0.40 percent and 0.75 percent, respectively.

MARKET UPDATE: Sensex up 246 points at 52,632 levels and Nifty traded above 15,750 levels, up 81 points

Monday, July 12, 2021
Indian benchmark indices started gap-up on Dalal Street today (12th July 2021), mirroring firm trends in Asia. S&P BSE Sensex jumped 246 points, or 0.47 percent, in early deals to quote at 52,632 levels. NSE's Nifty50, meanwhile, traded above 15,750 levels, up 81 points. ICICI Bank, Grasim Industries, Tata Motors, and Maruti Suzuki were the top gainers on the broader 50-share index. In the broader markets, the BSE MidCap index advanced 0.6 percent while the BSE SmallCap index added 0.91 percent. Sectorally, the Nifty PSU Bank index was ruling as the best performing index, up 1 percent. A total of 11 companies, including HFCL, Steel Strips Wheels, and Welcure Drugs & Pharmaceuticals will release quarterly earnings today.

Many Sugar stocks hit upper circuit limits

Friday, July 9, 2021
Sugar stocks created some flutter in today's(9th July 2021) session, with many stocks hitting upper circuit limits. Industry watchers said they anticipate a spike in sugar prices to Rs 36-37 per kg in the coming months. The sugar stocks have run up 2-4 times in four months, it is reported. "The sector has seen a turnaround from being cyclical to a structural growth story backed by the government's aggressive ethanol blending programme," it said. "With aggressive distillery capacity addition in India, sugar companies under our coverage should see strong earnings growth over the next three years." Dwarikesh Sugar Industries and Dalmia Bharat Sugar Industries surged 5 percent each to Rs 78.40 and Rs 475, respectively yesterday. Magadh Sugar and Energy jumped 4 percent to Rs 340, whereas EID Parry India gained 2 percent to Rs 417.70. Read more

TCS shares:Investors should stay put

Friday, July 9, 2021
In today's(9th July 2021) session Shares of Tata Consultancy Services swung between gains and losses following its June quarter results which were lower than expectations. The scrip declined over 1 percent in early trade to Rs 3,211.85 on the BSE, however, it recouped losses to trade marginally in the green at Rs 3,271.05 around 10.40 am. Analysts largely hold bullish views on the stock although they are concerned about the valuations. Most expect TCS to bounce back following a blip in the Q1 earnings show. The technical charts signals for the stock in the days ahead are as below: Tata Consultancy Services (TCS) Likely target: Rs 3,700 and Rs 3,900 Upside potential: 8% and 15% Read more

Macrotech Developers surges 14 percent post June quarter business update

Friday, July 9, 2021
Shares of Macrotech Developers, the recently listed real estate company, surged 10 percent to Rs 754 on the BSE in the intra-day trade on Friday, having rallied 14 percent in two days, after the company reported an 88 percent rise in its sales bookings at Rs 957 crore for the quarter ended June on strong demand despite the second wave of COVID-19 pandemic. The company's sales bookings and collections from customers stood at Rs 509 crore and Rs 384 crore, respectively, in the year-ago period. However, pre-sales were down by 62 percent from Rs 2,531 crore in the March 2021 quarter. "While April and May had very limited pre-sales on account of the second Covid wave in India, June saw pre-sales of Rs 654 crore. This pick-up in June is despite some continuing Covid related restrictions in our operating markets," the management said. It added that subject to no further Covid related disruptions, the company is on track to meet its pre-sales guidance. Read more

Closing Bell: Sensex down 183 points, Nifty at 15689.80

Friday, July 9, 2021
At close, the Sensex was down 182.75 points or 0.35% at 52,386.19, and the Nifty was down 38.10 points or 0.24% at 15,689.80. Tata Steel was the top gainer, followed by Bajaj Auto, Bharti Airtel, and NTPC. On the other hand, Bajaj Auto was the top loser followed by TCS, HDFC Bank, Axis Bank, and Reliance Industries. About 1693 shares have advanced, 1252 shares declined, and 107 shares are unchanged. The Nifty Private Bank index was the biggest drag, down 0.6 percent. On the upside, the Nifty Realty index zoomed 2.4 percent and metal 2 percent. BSE midcap and smallcap indices rose 0.4-0.6 percent. India VIX slipped 4%.

MARKET UPDATE: Sensex fell 310 points to 52,260 levels and Nifty gave up the 15,700-mark

Friday, July 9, 2021
The Indian benchmark indices fell over half a percent in morning deals today(9th July 2021), tracking weak cues from their Asian peers. The S&P BSE Sensex fell 310 points, or 0.6 percent, to 52,260 levels and the Nifty50 index gave up the 15,700-mark. Axis Bank, indusInd Bank, and Reliance Industries were the top Sensex drags. The stock of TCS was trading 0.85 percent lower at Rs 3,229 at 09:32 am, marginally recouping the morning loss. It had hit a high of Rs 3,274 in opening trade. There is a sudden bout of negative news for markets. The elusive virus, which is foxing even the World's best epidemiologists, has again become a threat with countries like South Korea and Australia imposing fresh restrictions. However, the valuations are excessive and there is room for markets to correct significantly. 'Buy on dips' may not prove to be a good strategy now. Profit booking and increasing the cash component in the portfolio are advisable, according to analysts.

Bajaj Healthcare gains 11 percent after receiving DRDO nod to manufacture 2-DG

Thursday, July 8, 2021
Shares of Bajaj Healthcare surged 11 per cent and hit 52 weeks high of Rs 1,009.80 on the BSE in intra-day trade on Thursday after the company received a licence from Defence Research and Development Organisation (DRDO) to manufacture and market "2-Deoxy-D-Glucose" (2-DG) as approved medication for the treatment of COVID-19 patients. The 2-DG Ccovid-19 control and treatment drug has been developed by the DRDO laboratory's Institute of Nuclear Medicine and Allied Sciences (INMAS), in collaboration with the pharma major Dr Reddy’s Laboratories. It has already received emergency approval from the Drugs Controller General of India (DCGI) for use on Covid-19 patients in the country. The drug comes in powder form and retails at Rs 990 per sachet, which is taken orally by dissolving it in water. It accumulates in the virus-infected cells and prevents virus growth by stopping viral synthesis and energy production. Read more

Global sell-off, slowing growth drag Sensex 480 pts lower; Nifty ends below 15,750

Thursday, July 8, 2021
Mainly due to slowing growth and sinking Dow futures ahead of US market opening benchmark indices ended the day deep in the red today(8th July 2021), dragged by banks and metal stocks. The move was volatile as profit booking near all-time high levels continued. Fitch, meanwhile, cut India’s FY22 GDP growth forecast to 10 percent but sees revival if vaccination is rapid. Anxiety that the spread of Covid-19 variants could upend growth going forward, back-pedaled reflation trades in global markets. The frontline S&P BSE Sensex ended 486 points down at 52,569 levels while the broader Nifty50 defended the psychological zone of 15,700 to end at 15,728 level, down 152 points. The BSE MidCap and BSE SmallCap indices slipped 0.37 percent and 0.09 percent in the broader markets, respectively. Read more

Zomato prices its IPO at Rs 72-76 per share

Thursday, July 8, 2021
Major food delivery company Zomato has priced its initial public offer (IPO) at Rs 72-76 per equity share. The offer will open on July 14 and close on July 16. Investors can bid for a minimum of 195 Equity Shares and in multiples of 195 thereafter. The anchor investors will be allotted shares on July 13. The IPO is comprised of a fresh issue of shares worth Rs 9,000 crore and an offer sale of shares amounting to Rs 375 crore. It includes a reservation of 6.5 million shares for employees. At the top end of the price band, the company could raise Rs 9,375 crore and is valued at Rs 64,365 crore. The company plans to utilise the net proceeds from the IPO towards funding organic and inorganic growth initiatives. Read more

Closing Bell: Sensex down 485 points, Nifty at 15727.90

Thursday, July 8, 2021
At close, the Sensex was down 485.82 points or 0.92% at 52568.94, and the Nifty was down 151.80 points or 0.96% at 15727.90. Reliance Industries, ICICI Bank, and HDFC Bank were the top losers in the Sensex pack. Tech Mahindra was the top gainer followed by Bajaj Auto, Power Grid, HCL Technologies, and IndusInd Bank.About 1277 shares have advanced, 1648 shares declined, and 112 shares are The nifty Metal index fell 2.19%, the Nifty PSU Bank index closed 1.96% lower and Nifty Bank ended 1.39% in the red. Only the Nifty IT index ended in the green-up 0.05 percent. The BSE MidCap and BSE SmallCap indices slipped 0.37 percent and 0.09 percent, respectively. India VIX rose 11%.unchanged.

MARKET UPDATE: Sensex hovered around 52,920 levels, down 120 points and Nifty gave up the 15,850 level

Thursday, July 8, 2021
The Indian benchmark indices edged lower in morning deals today(8th July 2021), ahead of the weekly options expiry. The S&P BSE Sensex hovered around 52,920 levels, down 120 points and the broader Nifty50 index gave up the 15,850 level. Hindustan Unilever, Sun Pharma, and Nestle India were the top Sensex drags. The Nifty sectoral indices were mixed, with the Nifty IT index, up 0.5 percent, leading the gainers. Read more

Titan shares dips 3 percent after June quarter business update

Wednesday, July 7, 2021
Shares of Titan Company dipped 3 percent to Rs 1,717.55 on the BSE in intra-day trade on Wednesday after the watch-to-jewelry maker released a business update for the first quarter of FY22. The company recorded revenue growth of around 117 percent year-on-year (YoY), excluding bullion sales, in the April-June quarter of the financial year 2021-22 (Q1FY22), with revenue contribution of nearly 50 percent 10 percent and 40 percent coming from April, May and June months, respectively. The company’s sales were hit amid the second COVID-19 wave, which led to temporary closures of stores in key states. Jewellery division in Q1FY22 grew by around 107% (excluding bullion sales), compared to last year, primarily due to zero sales in April of last year. The watches and wearables division grew by around 280% over Q1FY21. Eye Wear division grew by around 117% over Q1FY21. Read more

Cabinet reshuffle: 43 ministers likely to take oath today

Wednesday, July 7, 2021
Forty-three ministers will take oath today(7th July 2021) in the Union Cabinet expansion which includes the names of Jyotiraditya M Scindia, Pashupati Kumar Paras, Bhupender Yadav, Sarbananda Sonowal, Anurag Singh Thakur. The new set of India's Council of Ministers has been chosen with emphasis on representation, experience, and education. Multiple ministers have also resigned from their positions in the past 24 hours. Ministers who've submitted their resignation so far before the big reshuffle: 1. Union Minister Chemicals and Fertilizers Sadananda Gowda 2. MoS Consumer Affairs Danve Raosaheb Dadarao 3. Labour Minister Santosh Gangwar 4. Education Minister Dr. Ramesh Pokhriyal Nishank 5. Minister of State for Education Sanjay Dhotre Read more

Cement stocks are signalling up to 16% upside

Wednesday, July 7, 2021
Shares of cement companies are showing positive signals on tech charts While the S&P BSE Sensex managed to stage a new all-time high of 53,129 yesterday(6th July 2021); the overall sentiment remains tepid. The current momentum in the cement sector indicates an upside of nearly 10 percent in select stocks. Further, if the breakout is supported by volume, the sector could be in for a sharp upside in the short term. Shares of UltraTech Cement and Grasim Industries, for instance, are only a few bucks short of their lifetime high of Rs 7,055 and Rs 1,547, respectively. Even fundamentally, the outlook for the cement sector remains strong. " All key consumption drivers are showing signs of traction, which will aid the cement companies to sustain robust earnings growth. Thus, a valuation re-rating is on the cards for the cement companies in light of promising growth visibility," say some research analysts. Read more

Closing Bell: Sensex gains 193 points, Nifty at 15879.65

Wednesday, July 7, 2021
At close, the Sensex was up 193.58 points or 0.37% at 53054.76, and the Nifty was up 61.40 points or 0.39% at 15879.70. Tata Steel, Bajaj Finserv, and HDFC were the top gainers on Sensex. Titan, Maruti Suzuki India, and Reliance Industries were the top laggards. About 1737 shares have advanced, 1372 shares declined, and 136 shares are unchanged. The reality and metal indices rose 2 percent each. All other key sectoral indices gained up to 0.6 percent each, except the Nifty Auto index, which slipped 0.07 percent. The BSE MidCap and SmallCap indices rallied 0.58 percent and 0.38 percent, respectively. India VIX closed 0.50 percent lower

MARKET UPDATE: Sensex hovered around 52,800 levels, down 60 points and Nifty slipped below the 15,800-mark

Wednesday, July 7, 2021
The Indian benchmark indices traded flat with a negative bias in early deals today(7th July 2021), amid weak global cues. The S&P BSE Sensex hovered around 52,800 levels, down 60 points and the broader Nifty50 index slipped below the 15,800-mark. Titan fell over 1 percent and was the top Sensex laggard post Q1 update. Mahindra & Mahindra and IndusInd Bank were the other top laggards. All the Nifty sectoral indices, barring the Nifty Realty index, traded in the red, with the Nifty Auto index, down 0.6 percent, blee. ding the most. Read more

Tata Motors Tanks 10 percent as company flags concerns over chip shortage

Tuesday, July 6, 2021
Shares of Tata Motors tanked 10 per cent to Rs 311.53 on the BSE in intra-day trade on Tuesday after its UK subsidiary Jaguar Land Rover (JLR) said it expects an operating cash outflow of about £1 billion, with negative earnings before interest tax (EBIT) margin in the second quarter ended September 2021 (Q2FY21), due to the supply constraints. Based on recent input from suppliers, the company now expects chip supply shortages in the Q2FY22 to be greater than in the first quarter, potentially resulting in wholesale volumes to be about 50 percent lower than planned, although it said it is working to mitigate this. We expect the situation will start to improve in the second half of our financial year, the company said.“The present semiconductor supply issues represent a significant near-term challenge for the industry which will take time to work through but we are encouraged by the strong demand we see for when supply recovers,” said Thierry Bollore, chief executive officer, JLR. Read more

Closing Bell:Sensex ends flat, Nifty at 15818.25

Tuesday, July 6, 2021
At Close, the Sensex was down 18.82 points or 0.04% at 52861.18, and the Nifty was down 16.10 points or 0.10% at 15818.30. UltraTech Cement, HDFC Bank, and Bajaj Finance were the top gainers on Sensex while Tech Mahindra, TCS, Maruti Suzuki India, Tata Motors, and Reliance Industries were among the drags. About 1557 shares have advanced, 1624 shares declined, and 121 shares are unchanged. The Nifty Bank was the top-performing index, up 0.9 percent, trailed by the Nifty Financial Services index, up 0.8 percent. Nifty Media and Nifty private bank index closed with gains. On the flip side, the Nifty Auto was the biggest loser, down 1.8 percent. The BSE MidCap index settled 0.12 percent higher while the BSE SmallCap index closed 0.26 percent lower.

Frontline equity indices turned highly volatile towards the fag-end of the session

Tuesday, July 6, 2021
The frontline equity indices turned highly volatile towards the fag-end of the session today (6th July 2021) as profit-booking in all but the financial sector dragged them in the negative territory. The 30-share BSE barometer dropped 268 points from the record peak of 53,129, touched earlier today, to settle at 52,861 levels, down 19 points or 0.04 percent. Only 11 of the 30 constituents on the index managed to end in the green led by UltraTech Cement (up 3 percent), HDFC Bank, Bajaj twins, Kotak Bank, IndusInd Bank, and Tata Steel. On the NSE, the broader Nifty50 declined 16 points, or 0.10 percent, to end at 15,818 levels. Tata Motors, down 8.5 percent, ended as the top laggard on the index after its UK subsidiary Jaguar Land Rover (JLR) said it expects an operating cash outflow of about £1 billion, with negative earnings before interest tax (EBIT) margin in the second quarter ended September 2021 (Q2FY21), due to the supply constraints. Read more

June GST collection falls below Rs 1 trn-mark after 8 months

Tuesday, July 6, 2021
GST collections for the month of June fell below Rs 1 trillion for the first time in months, according to the government data released today(7t6th July 2021). The gross GST revenue collected in the month of June is Rs 92,849 crore. The collection dropped below the Rs 1 trillion marks after posting above the mark for eight months in a row. GST collections moderated to an eight-month low of Rs 1.02 trillion in May. The revenues for the month of June 2021 are 2 percent higher than the GST revenues in the same month last year. The figures include GST collection from domestic transactions between June 5 to July 5 since taxpayers were given various relief measures in the form of waiver/reduction in interest on delayed return filing for 15 days for the return filing month June for the taxpayers with the aggregate turnover up to Rs 5 crore in the wake of covid pandemic second wave.

Some hot stocks to keep your portfolio cool this summer

Tuesday, July 6, 2021
So far shares of household appliances companies have seen a mixed trend during the current year. Among individual stocks, shares of Bajaj Electricals and Orient Electric have beaten the overall segment with a surge of 100 percent 50 percent, respectively. On the other hand, Blue Star surged over 20 percent before retracing, while stocks like Symphony Limited and Whirlpool have not delivered any significant return, so far. Although the overall trend in the segment seems sideways, the ongoing consolidation in some stocks may lead to a breakout, according to technical charts' observations. Read more

MARKET UPDATE: Sensex traded 60 points up at 52,940 levels and Nifty holding the 15,800-mark

Tuesday, July 6, 2021
The benchmark indices in Indian markets traded flat with a positive bias in morning deals today(6th July 2021). The S&P BSE Sensex traded 60 points up at 52,940 levels and the Nifty50 index was holding the 15,800-mark. HDFC Bank, Maruti Suzuki, and Bajaj Finance were the top Sensex gainers. The Nifty sectoral indices traded mixed, with the Nifty Realty index, up 0.55 percent, leading the gainers. The S&P BSE MidCap and SmallCap indices traded 0.23 percent and 0.47 percent higher in the broader markets, respectively. Shares of cement companies were in focus on the bourses today in an otherwise subdued market with Ambuja Cement (up 6 percent to Rs 360) and JK Lakshmi Cement (up 4 percent at Rs 622.50) hitting their respective record highs on the expectation of the profitability of the sector companies remaining intact despite cost rise.

BSE Smallcap index hits new high

Monday, July 5, 2021
Shares of small-cap companies were on a roll today (5th July 2021) with the S&P BSE SmallCap index hitting a new high of 25,809 on the BSE in the intra-day trade on the back of a strong rally in telecom, agrochemicals, fertilizers, chemicals, information technology (IT), textiles and pharmaceutical stocks. The S&P BSE SmallCap index was up 0.90 percent as compared to a 0.70 percent rise in the S&P BSE Sensex and a 0.29 percent gain in the S&P BSE MidCap index. In the past one month, the SmallCap index has outperformed the other two by surging 6.4 percent. In comparison, the benchmark Sensex and the MidCap indices gained 1.4 percent and 0.28 percent, respectively. Individually, HFCL, OnMobile Global, Zuari Agro Chemicals, Grauer & Weil (India), Jindal Worldwide, Apex Frozen Foods, Accelya Solutions India, Newgen Software Technologies, and KRBL soared between 11 percent and 20 percent in the intra-day trade today. Read more

Is building a completely self-sufficient supply chain in semiconductor technology unrealistic?

Monday, July 5, 2021
American government worried these days about computer chips and China’s ambitions with the foundational technology. But a machine sold by a Dutch company has emerged as a key lever for policymakers — and illustrates how any country’s hopes of building a completely self-sufficient supply chain in semiconductor technology are unrealistic. The machine is made by ASML Holding, based in Veldhoven. Its system uses a different kind of light to define ultrasmall circuitry on chips, packing more performance into the small slices of silicon. The complex machine is widely acknowledged as necessary for making the most advanced chips, an ability with geopolitical implications. The Trump administration successfully lobbied the Dutch government to block shipments of such a machine to China in 2019, and the Biden administration has shown no signs of reversing that stance. Read more

Panacea Biotec gains 9 percent on regulator’s nod to produce Sputnik V jabs

Monday, July 5, 2021
Shares of Panacea Biotec surged 9 percent to Rs 411 on the BSE in the intra-day trade on Monday after the company announced that it has received a manufacturing license to produce Sputnik V vaccine at its Baddi (Himachal Pradesh) plant, after the first batch of the covid-19 vaccine cleared all quality-control tests at the Gamaleya Center, Russia, the company said. “Panacea Biotec is delighted to announce the obtaining of the manufacturing license to produce Sputnik V vaccine in India. On this occasion, we thank the leadership of our Hon’ble Prime Minister Modi Ji and Government of India for timely handholding and expediting clearances to enable ‘Make in India’ vaccines," said Dr. Rajesh Jain, Managing Director, for Panacea Biotec. Sputnik V has been part of India’s covid vaccination drive since 14 May after receiving the emergency use authorization on 12 April. Sputnik V has been registered in 67 countries globally, covering a total population of over 3.5 billion people. Read more

Closing Bell: Sensex gains 395 points, Nifty at 15834.35

Monday, July 5, 2021
At Close, the Sensex was up 395.33 points or 0.75% at 52,880, and the Nifty was up 112.20 points or 0.71% at 15,834.40 as bulls asserted control on Dalal Street. State Bank of India was the top index gainer, followed by Tata Steel, Bajaj Finserv, and Larsen & Toubro. Tech Mahindra, Dr. Reddy’s, HCL Technologies, Titan, and Bharti Airtel were the only Sensex constituents to close in Red. All, except the IT and Pharma indices, ended in the green. Of these, the Nifty Realty index was the top gainer, up nearly 3 percent. The BSE SmallCap index gained 0.87 percent and the BSE Midcap index gained 0.35 percent higher.India VIX ended in the red.

MARKET UPDATE: Sensex up 310 points at 52,800 and Nifty traded above the 15,800-mark;All Nifty sectoral indices traded in green

Monday, July 5, 2021
The benchmark indices in Indian markets rose half a percent in morning deals today(5th July 2021), tracking firm cues from other Asian markets. The S&P BSE Sensex was up 310 points, or 0.6 percent, at 52,800, and the broader Nifty50 index traded above the 15,800-mark. Bajaj Auto, TCS, and PowerGrid were the top Sensex gainers. All the Nifty sectoral indices traded in the green, led by Nifty Realty and Nifty Auto indexes, both up 0.6 percent. The S&P BSE MidCap and SmallCap indices rose 0.3 percent and 0.6 percent in the broader markets, respectively.

57 stocks in the Nifty 500 index are trading in the overbought category of Relative Strength Index (RSI)

Saturday, July 3, 2021
The current momentum in the domestic benchmark indices, Sensex and Nifty, shows weak sentiment and a confused state of mind of traders and investors. Quite a few stocks are reflecting extremely bullish sentiment in their overall trend. According to analysts at the current momentum, a total of 57 stocks in the Nifty 500 index are trading in the overbought category of Relative Strength Index (RSI). This indicator analyses the impact of change in price to identify the overbought and oversold territory. Investors consider the overbought situation as the area to look for profit booking or selling stocks. Likewise, oversold condition indicates bullish entry. Read more

Asset managers worried about the steep run-up in mid-, small-cap space

Friday, July 2, 2021
The mid and small-cap indices, which underperformed large-caps until early 2020, have covered lost ground, gaining 73 percent and 104 percent, respectively, in the last year. “The economy is likely to see a cyclical upturn which makes us feel that the outlook for the broader market is likely to be good going forward. However, the euphoric rise in many poor-quality small-cap names driven by higher retail participation is a cause for concern,” say experts. On aggregate, the entire universe of Flexi cap schemes, which invest across market capitalisations, had 71.5 percent of their assets invested in large caps, 23.4 percent in mid-caps, and 5 percent in small caps as of May 31, data. Read more

NTPC plans IPO for Rs 2.5 trillion expansion of renewables business

Friday, July 2, 2021
India’s largest power generator and State-run Company NTPC has plans to list its arm NTPC Renewable Energy Ltd in 2022-23, to raise funds for achieving its ambitious target of 60 GW installed renewable energy capacity by 2032, which entails a total investment of Rs 2.5 lakh crore, a source said. The Company did not disclose the quantum of money to be raised through the initial public offering (IPO) of the NTPC Renewable Energy but said that the equity component of the firm would be around Rs 50,000 crore and rest of the requirement would be met through long-term loans, debentures, bonds and other such modes. It’s intended to enable a dramatic transformation over the next decade for a company that relies on coal to produce the vast majority of its electricity. NTPC is aiming to double generation capacity to 130 gigawatts by 2032 and slash the share of fossil fuels in that energy mix to about half from 92% currently. Read more

Chris Wood launches India-dedicated equity portfolio

Friday, July 2, 2021
In his Asia ex-Japan long-only portfolio, Christopher Wood, global head of equity strategy at Jefferies has launched India long-only equity portfolio with 16 stocks, which include marquee stocks such as ICICI Bank, HDFC, Bajaj Finance, Reliance Industries (RIL), ONGC, Maruti Suzuki India, Tata Steel, and Jubilant FoodWorks. India always had a significant representation in GREED & fear’s long-only Asia ex-Japan portfolio, launched nearly 19 years ago at the end of the third quarter of 2002 (Q3-2002). The move comes despite the Indian equities nearing all-time high levels and rich valuations. Read more

Closing Bell: Sensex gains 166 points, Nifty at 15722.20

Friday, July 2, 2021
At close, the Sensex was up 166.07 points or 0.32% at 52484.67, and the Nifty was up 42.20 points or 0.27% at 15722.20. Reliance Industries and ICICI Bank were the top gainers on BSE Sensex, followed by the State Bank of India, HDFC, and Mahindra & Mahindra. Tata Steel, Power Grid, and Asian Paints were the top laggards. About 1874 shares have advanced, 1279 shares declined, and 120 shares are unchanged. The Nifty Pharma index was the top gainer, up 0.6 percent, followed by the Nifty Bank index, up 0.4 percent. Conversely, the Nifty Metal index was the top sectoral loser on the NSE, down 1.5 percent.BSE midcap ended flat, while smallcap index added 1 percent. India VIX dived 6%.

MARKET UPDATE:Indices trade flat;Sensex hovered around 52,320 levels and Nifty below the 15,700-mark

Friday, July 2, 2021
The benchmark indices in India traded flat in early deals (2nd July 2021), despite favourable global cues. The S&P BSE Sensex hovered around 52,320 levels and the Nifty50 index was below the 15,700-mark. TCS, Infosys, and Tata Steel were the top Sensex laggards, while ICICI Bank and Reliance Industries gained the most. The Nifty sectoral indices traded mixed, with the Nifty Realty index, up 0.9 percent, leading the gainers. In the broader markets, the S&P BSE MidCap index was flat while the SmallCap index rose half a percent.

Bulls are in a 'fatigue stage'

Thursday, July 1, 2021
The benchmark indices (BSE Sensex and NSE Nifty) are struggling to cross their recent record levels and are in a consolidation phase, which according to analysts, is a sign that the bulls are in a 'fatigue stage'. The BSE barometer Sensex is currently trading 800 points down from its all-time high of 53,126 while Nifty50 is off some 200 points from the record peak of 15,915. While the overall trend for the benchmark indices looks positive, the current scenario is reflecting a confused state of mind among market players. In the first half of the current year 2021, Sensex and Nifty have gained 10 percent and 12 percent, respectively. Read more

Rainfall over country is most likely to be normal: IMD

Thursday, July 1, 2021
Rainfall over the country as a whole is most likely to be normal, as per IMD's forecast for July. According to IMD, monthly rainfall for July 2021 over the country is most likely to be normal (94 to 106 % of Long Period Average - LPA). "The latest global model forecasts indicate that the prevailing neutral ENSO conditions are likely to continue over the equatorial Pacific Ocean and that there is enhanced possibility of development of negative IOD conditions over the Indian Ocean during July to September 2021. As sea surface temperature (SST) conditions over the Pacific and the Indian Oceans are known to have a strong influence on Indian monsoon, IMD is carefully monitoring the evolution of sea surface conditions over these Ocean basins," the weather department said.

Vodafone Idea slips 15% after posting loss in Q4

Thursday, July 1, 2021
Shares of Vodafone Idea tanked 15 percent to Rs 8.46 on the BSE in Thursday's intra-day trade after the company reported a big loss of Rs 7,023 crore during January-March quarter as against Rs 4,532 crore in the previous quarter (Q3FY21). The revenues declined sharply by nearly 12% on a quarter-on-quarter basis to Rs 9,608 crore, much below analyst expectations of Rs 10,040.50 crore. Ebitda (earnings before interest, tax, depreciation, and amortization), however, increased 2.8% sequentially to Rs 4,408 crore. Ebitda margins came in at 45.9%, a sharp increase of 660 basis points quarter-on-quarter.The company’s average revenue per user (Arpu) during the quarter declined to Rs 107 compared with Rs 121 in the preceding quarter. Average data consumption, however, rose to 13,068 MB against 12,288 MB in the previous quarter. Read more

Closing Bell: Sensex down 164 points, Nifty at 15680.00

Thursday, July 1, 2021
At close, the Sensex was down 164.11 points or 0.31% at 52318.60, and the Nifty was down 41.50 points or 0.26% at 15680 as new Delta and Delta plus variants of novel coronavirus push Covid-19 cases higher across the globe. Bajaj Finserv, Infosys, UltraTech Cement, Tech Mahindra, IndusInd Bank, Reliance Industries Ltd (RIL), HDFC Bank, Bharti Airtel, TCS were among the top index draggers. While Dr. Reddy’s Lab, Bajaj-Auto, Sun Pharma, Asian Paints, Maruti Suzuki, Titan Company, SBI were Sensex gainers. About 1632 shares have advanced, 1516 shares declined, and 118 shares are unchanged. The Nifty Auto index and Nifty Pharma ended 0.8 percent higher, PSU Bank ended in the green, WhileNifty Bank fell 0.25 percent. Selling was seen in the energy, bank, metal, infra, and IT names. The BSE MidCap index dipped 0.19 percent. However, the BSE SmallCap index added 0.32 percent.

MARKET UPDATE:Volatile market;Sensex traded around 52,480 levels, and Nifty hovered near the 15,750-mark

Thursday, July 1, 2021
The benchmark indices in India fluctuated between gains and losses in early deals today(1st July 2021), amid mixed cues from other Asian markets. The S&P BSE Sensex traded around 52,480 levels, and the broader Nifty50 index hovered near the 15,750-mark. IndusInd Bank, Infosys, and Ultratech Cement were the top Sensex laggard. On the other hand, Mahindra & Mahindra, Bajaj Auto, and Asian Paints were the top Sensex gainers. The Nifty sectoral indices were largely in the green, led by the Nifty Auto index, up 0.8 percent. In the broader markets, the S&P BSE MidCap index traded flat, while the SmallCap index ticked up 0.2 percent.

Mid-, Smallcaps outperform in first half of 2021

Wednesday, June 30, 2021
Mid- and small-cap indices have outperformed the S&P BSE Sensex and the Nifty50 in the first half of the calendar year 2021 (H1-CY21) by rallying 26 percent and 39 percent, respectively. The trend, analysts believe, is likely to continue in H2-CY21 as well. The outperformance in H1-CY21 comes on the back of improved earnings and strong inflows from the foreign portfolio investors (FPIs) in Indian equities. However, good monsoon so far, gradual opening up of the economy, and the pick-up in the pace of vaccination provides support to the market. Another key mover of these two segments over the past few months has been retail investors, who according to analysts, have flocked to these two market segments after tasting success with their investments in 2020. Read more

Market may again favour the bulls soon

Wednesday, June 30, 2021
The market mood is changing towards a bull run again, according to some analysts. The major positives for the market now are the steadily declining fresh Covid cases and fast-rising vaccinations, which will facilitate the further easing of restrictions and rebound in economic activity. From the market perspective, the fact that FPIs have ceased selling and the DIIs have turned aggressive buyers are strong positives. Therefore, it is quite possible that the market may again favour the bulls and the 'buy on dips strategy' may resume. Since exports are doing well & INR has depreciated, exporters are likely to do well. In banking, the share of the private sector in credit approvals has risen above 36% which is positive for the leading private bank majors.

MARKET UPDATE:Sensex gained 100 points at 52,650 levels and Nifty topped the 15,750-mark

Wednesday, June 30, 2021
The benchmark indices in India edged up in early deals today(3othJune 2021), amid largely positive cues from other Asian markets. The S&P BSE Sensex gained 100 points at 52,650 levels and the broader Nifty50 index topped the 15,750-mark. Maruti Suzuki, Titan, and Tata Steel were the top Sensex gainers. All the Nifty sectoral indices, barring Nifty Realty, traded in the green, led by the Nifty Metal index, up 0.75 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices traded 0.2 percent and 0.5 percent higher, respectively. More than 900 companies including SpiceJet, Vodafone Idea, Dish TV India, IRCON International, and Sadbhav Engineering are scheduled to release their quarterly earnings today. Read more

10club raised $40 mn in seed funding

Tuesday, June 29, 2021
10club has raised $40 million in seed funding. The funding round was co-led by Fireside Ventures and an international investor active in the space. HeyDay, a leading player in the roll-up space, PDS international, Class 5 Global, Secocha Ventures led by Sanket Parekh, boAt founders Aman Gupta & Sameer Mehta (in their individual capacity) and several other global strategic investors participated in the funding round. The funding will primarily be used for expanding 10club’s portfolio of brands, investing in building its technology stack, and for working capital purposes. Vinay Singh, Partner- Fireside Ventures will join the company’s board. 10club partners with e-commerce product sellers in India by acquiring their businesses. The firm said it works with their teams to help them grow 10x in size. Read more

FDI in India is to pick up going ahead on the back of a strong rebound in growth

Tuesday, June 29, 2021
After a March 2020 low, the valuation of Indian stock market has become a concern now, HSBC said in their Asian outlook conference for the second half of 2021. It expects foreign direct investment (FDI) to pick up pace going ahead as the economic recovery gathers steam. “FDI in India is likely to pick up going ahead on the back of a strong rebound in growth. Any pullback in FDI, I think, will only be temporary. The government’s latest stimulus measures announced Monday are marginally positive. However, relative to the economic dislocation seen in India, the package is not very large. Most emerging markets (EMs) witnessed healthy flows for the most part of FY21 as global central banks, especially the US Federal Reserve (US Fed), remained ‘accommodative’ and pushed liquidity to help revive economic growth. Read more

S&P Global cuts India's growth forecast to 9.5% from 11%

Tuesday, June 29, 2021
S&P Global cut its growth forecasts for some of Asia's top economies including India, the Philippines, and Malaysia on Monday, offsetting upgrades to China and South Africa, and much of Latin America. The estimates, which feed into S&P's closely-followed sovereign ratings, saw India's growth projection cut to 9.5% from 11% due to its COVID-19 outbreak, the Philippines' lowered to 6% from 7.9% and Malaysia's downgraded to 4.1% from 6.2%.In contrast, China's forecast was surged up to 8.3% from 8%, Brazil's was upgraded to 4.7% from 3.4%, Mexico's to 5.8% from 4.9% while those of South Africa, Poland, and Russia were lifted to 4.2%, 4.5%, and 3.7%, respectively, from 3.6%, 3.4%, and 3.3%. "The top risk facing emerging market economies (EMs) is a slower-than-expected rollout of the vaccines," S&P's economists said in a news report, adding that the pandemic would only subside once vaccinations "reach a level consistent with herd immunity". Read more

Closing Bell: Sensex down 189 points, Nifty at 15748.45

Tuesday, June 29, 2021
At Close, the Sensex was down 185.93 points or 0.35% at 52,549.66, and the Nifty was down 66.20 points or 0.42% at 15,748.50. Power Grid Corporation of India, Hindustan Unilever Ltd (HUL), Dr. Reddy’s Laboratories, Nestle India, IndusInd Bank, Asian Paints, RIL, Titan were among top Sensex gainers. On the flip side, Kotak Mahindra Bank, ICICI Bank, Tech Mahindra, Bajaj-Auto, Mahindra & Mahindra, SBI, Axis Bank were among the top index losers. About 1440 shares have advanced, 1536 shares declined, and 87 shares are unchanged. The Nifty PSU Bank, Auto, Metal, and PSB index slipped between 1 percent and 1.5 percent on the NSE While the Nifty FMCG index and Nifty Pharma gained half a percent. The BSE MidCap and SmallCap indices closed 0.42 per cent and 0.07 percent lower, respectively

MARKET UPDATE:Sensex hovered around 52,750 levels and Nifty fell below the 15,850-mark

Tuesday, June 29, 2021
The Indian benchmark indices traded flat in early deals today(29th June 2021), amid largely weak cues from other Asian markets. The S&P BSE Sensex hovered around 52,750 levels and the Nifty50 index fell below the 15,850-mark. Asian Paints, Reliance Industries, and Larsen & Toubro were the top Sensex gainers. On the other hand, HDFC Bank and Kotak Mahindra Bank were the top laggards. The Nifty sectoral indices were mixed, with Nifty Private bank, down 0.4 percent, taking the deepest cuts. The broader markets outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indexes trading 0.37 percent and 0.47 percent higher, respectively. IRCTC, Ruchi Soya, Cochin Minerals & Rutile, DCM, Omaxe and Sintex Industries are among the list of companies that will announce their quarterly earnings today.

FM Sitharaman raises ECLGS scheme limit to Rs 4.5 trn

Monday, June 28, 2021
To help the revival of the economy battered by COVID-19 related issues, Finance Minister Nirmala Sitharaman announced a slew of measures today(28th June 2021) including a Rs 1.1 lakh crore (Rs 1.1 trillion) credit guarantee scheme for improving health infrastructure and enhancing the limit under the ECLGS by 50 percent to Rs 4.5 lakh crore for the MSME sector facing a liquidity crunch. Sharing the stimulus package details, the finance minister said this comprises eight relief measures and other eight measures to support economic growth. She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including the health sector, which includes guarantee cover for expansion or new projects. Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme. Read more

Thyrocare Technologies fell 9.1 percent as PharmaEasy offers to acquire 66% stake

Monday, June 28, 2021
Shares of Thyrocare Technologies dipped 9.1 per cent to Rs 1,317on the BSE in Monday's intra-day after digital healthcare company Pharmeasy announced that it would buy a controlling stake in the diagnostic chain for Rs 4,546 crore.The Delhi-based company would buy 66.1 per cent stake in Thyrocare from promoter A Velumani and his affiliates at Rs 1,300 per share. Dr A Velumani, the founder of Thyrocare, will be separately acquiring a minority non-controlling stake, of less than 5 percent in API Holdings as part of a series of equity investments by existing and new investors of API, the statement added.The proposed deal shocked investors as the deal price was 11% lower than the stock price of the firm.This would be the first ever acquisition of a listed company, by an Indian unicorn, the companies said in a joint statement. "It is the third big-ticket transaction involving an e-pharmacy company," they said.The stock price has surged over 176 percent in last 1 year. Read more

Young Indian investors rather put money in crypto than gold

Monday, June 28, 2021
In India investments in crypto grew from about $200 million to nearly $40 billion in the past year, according to Chainalysis. That’s despite outright hostility toward the asset class from the central bank and a proposed trading ban. Indians now totaling more than 15 million are buying and selling digital coins. That’s catching up with the 23 million traders of these assets in the U.S. and compares with just 2.3 million in the U.K. The growth in India is coming from the 18-35-year-old cohort, says the co-founder of India’s first cryptocurrency exchange. Latest World Gold Council data indicated Indian adults under age 34 have less appetite for gold than older consumers.“They find it far easier to invest in crypto than gold because the process is very simple,” say experts. Read more

Closing Bell: Sensex down 189 points, Nifty at 15814.70

Monday, June 28, 2021
At close, the Sensex was down 189.45 points or 0.36% at 52735.59, and the Nifty was down 45.70 points or 0.29% at 15814.70 even as Finance Minister Nirmala Sitharaman announced relief measures for an economy, battered by the second wave of Covid-19, and which is bracing for a possible third wave. Asian Paints, Housing Development Finance Ltd (HDFC), State Bank of India, Reliance Industries Ltd (RIL), NTPC were among the top Sensex gainers. Maruti Suzuki, TCS, Larsen & Toubro, Bajaj-Auto, Mahindra & Mahindra, Infosys, HCL Tech, Bharti Airtel were top index laggards. About 1826 shares have advanced, 1420 shares declined, and 147 shares are unchanged. Barring Nifty IT and Nifty Media indices, all the Nifty sectoral indices were trading in the green, lead by gains in Nifty PSU Bank and Nifty Metal which gained 1-2 percent. BSE Midcap and Smallcap indices up 0.4 percent each.

MARKET UPDATE:Sensex traded flat around the 53,000-mark and Nifty topped the 15,900-mark

Monday, June 28, 2021
The markets in India traded flat with a positive bias in early deals today (28th June 2021)amid cautious trade in Asian markets. The S&P BSE Sensex traded around the 53,000-mark and the Nifty50 index topped the 15,900-mark. Dr. Reddy's, NTPC, and Asian Paints were the top Sensex gainers, while Titan and TCS were the top drags. Majority of the Nifty sectoral indices traded in the green, led by the Nifty PSU Bank index, up 1.8 percent. The S&P BSE MidCap and SmallCap indices were up 0.1 percent and 0.4 percent in the broader markets, respectively. Dodla Dairy and Krishna Institute of Medical Sciences will list on the bourses today The two IPOs that ran between June 16-18 were subscribed 46 times and 4 times, respectively. Around 300 companies are slated to post their quarterly numbers today including NALCO, Future Lifestyle, Zee Media, GIC Housing Finance, and NLC India. Read more

Can PSU banks offer good returns even after a stellar rally?

Saturday, June 26, 2021
Stocks of the public banks have been on a gradual upward trend during the month of June. Privatisation buzz, strong earnings, and fund-raising plans have lent confidence to investors which resulted in buying in these names. The stocks did see some weakness recently but the positive sentiment remains intact. Union Bank shares have gained over 12 percent so far in June while UCO Bank has surged 5 percent. Notably, Union Bank said on Thursday (24th June 2021), it has raised Rs 850 crore while UCO Bank has received Board's nod to raise up to Rs 500 crore. Meanwhile, other stocks in the PSU bank basket-like Central Bank of India and Indian Overseas Bank have seen a sharp rise on the news of divestment plans. Read more

RBI holds back selling 10-yr bond

Friday, June 25, 2021
The RBI did not sell any of its planned Rs 14,000 crore of the benchmark 10-year bond on auction today(25th June 2021), which may indicate its discomfort in breaching the limit outstanding in the bond, and that a new 10-year bond could be coming any time soon, maybe in the next auction itself. The government has raised more than Rs 1.19 trillion against the existing bond, a limit after which a new paper is issued to ease the redemption pressure. The RBI, however, had paid underwriting fees for the existing 10-year paper, indicating its willingness to sell the bond. And so, experts say, it could be a late decision not to increase the volume. In today's auction, the RBI sold a little more than Rs 12,000 crore, less than half of the Rs 26,000 crore planned through three bonds.

Accenture Q3FY21 earnings: Indian IT firms may surprise D-St in Q1 earnings season

Friday, June 25, 2021
Accenture reported a 21 percent growth in revenues at $13.26 billion for the quarter ended May 31, beating its own guidance of $12.55 billion-$12.95 billion in revenues. The performance and revenue guidance of Accenture is typically seen as a barometer for the performance of Indian technology companies. While the Nifty IT index was trading over half a percent higher in early deals today, most stocks, barring Wipro, gained up to 2 percent. Shares of TCS, Infosys, Tech Mahindra, Mindtree, and Coforge even logged fresh 52-week highs. Analysts at Edelweiss Research said, a strong operational performance by Accenture during Q3FY21 in its outsourcing vertical sets the tone for an upcoming earnings season for the Indian IT service companies. "We reiterate that a robust tech upcycle or 'techolution' is in its starting phase and may continue for 4–5 years," they added. Read more

Ashok Leyand gains 9 percent after posting Quarter4 results.

Friday, June 25, 2021
Shares of Ashok Leyland zoomed 9 per cent to Rs 129.35 on the BSE in intra-day trade on Friday as the commercial vehicle maker posted a net profit of Rs 241.17 crore in the March 2021 quarter. The company had incurred a net loss of Rs 57.32 crore in the same quarter previous year. The Company's Market share improved 0.8 per cent to 28.9 per cent in the March 2021 quarter (Q4FY21) from 28.1 per cent in December 2020 quarter. The revenue from the operations surged 80 per cent to Rs 7,000.49 crore in the March 2021 quarter from Rs 3,872 crore in the same quarter previous year. Earnings before interest, tax, depreciation and amortization (EBITDA) were at Rs 533.7 crore and the margin expanded to 7.6 percent from 4.7 percent (YoY).For the full financial year 2020-21, the company has posted a net loss of Rs 313.68 crore as against a profit of Rs 239.65 crore in the financial year 2019-20. Read more

Closing Bell: Sensex gains 226 points, Nifty at 15860.35

Friday, June 25, 2021
At Close, the Sensex was up 226.04 points or 0.43% at 52925.04, and the Nifty was up 69.90 points or 0.44% at 15860.40 as hefty buying in metals, financials, and pharma sectors lifted indices for the second day. Tata Steel was the best performing stock on BSE Sensex followed by SBI, Axis Bank, and ICICI Bank. while top losers included Reliance Industries, Titan Company, NTPC, HUL, and Asian Paints. About 1737 shares have advanced, 1393 shares declined, and 142 shares are unchanged. The Nifty Metal index zoomed 2.5 percent. Nifty Bank, Private Bank, Pharma, and auto indices, rose between 0.7 percent and 1.6 percent. While Nifty FMCG, down 0.66%.The BSE MidCap and SmallCap indices advanced 1 percent and 0.4 percent, respectively.

MARKET UPDATE:Sensex up 84 points at 52,780 levels and Nifty hovered around the 15,830-zone

Friday, June 25, 2021
The benchmark indices in India traded flat with a positive bias today(25th June 2021), although heavyweight Reliance Industries being the top drag. The S&P BSE Sensex was up 84 points at 52,780 levels and the Nifty50 index hovered around the 15,830-zone. Tata Steel, Tech Mahindra, and HCL Tech were the top Sensex gainers, while Reliance Industries (down 2%) was the top laggard. The majority of the Nifty sectoral indices traded in the green, led by Nifty Metal, were up 1.9 percent. One hundred and ninety-two companies, including Antony Waste Handling Cell, Finolex Industries, Indraprastha Gas, JSW Energy, and RailTel Corporation of India, are scheduled to release quarterly earnings today.

Cryptocurrency Today: Bitcoin, Ethereum, Uniswap gain up to 6%

Thursday, June 24, 2021
Major cryptocurrencies regained some ground after a broad-based crackdown from China today(24th June 2021). Following the recent volatility, six out of the top-10 digital tokens were trading with decent gains at 9.30 hours IST, whereas the rest four tanked up to 5 percent. On technical charts, numero uno crypto token Bitcoin formed a 'death cross', signaling further losses ahead. Prices of Bitcoin have already halved since its peak of $65,000 in April this year. Market players are citing jitters on bitcoin mining in thin liquidity for the losses. The past 24 hours were massively volatile for the cryptocurrency market. Bitcoin broke below the critical support level of $30k before making a day's low of $28,91. A short-lived rebound quickly followed the dip. It is one of those days where stop losses got triggered on both long and short positions," said an expert. Read more

Bull run will last for very long time:Rakesh Jhunjhunwala

Thursday, June 24, 2021
According to billionaire investor Rakesh Jhunjhunwala, annual equity returns from Indian stocks will be about five percentage points on top of the economic growth of 7%-10% in the coming years. Jhunjhunwala is counting on the nation’s potential for long-term growth and political stability to fuel further gains in the $3 trillion stock market that’s already been hitting record after record this year. His bets range from banks and health insurance -which he says will be boosted by the pandemic - to a broad consumer rally on the back of Prime Minister Narendra Modi’s policies to give every Indian home and access to clean water. “We are in the middle of a bull phase which will last for a very, very long time,” Jhunjhunwala said in an interview earlier this month. “India will also look lucrative when the U.S. Federal Reserve begins to withdraw stimulus, but there will be short-term disruptions.”

Mukesh Ambani announces big bang into solar new energy,JioPhone Next

Thursday, June 24, 2021
Billionaire Mukesh Ambani on Thursday announced a Rs 75,000 crore investment in setting up four 'Giga' factories to make solar photovoltaic cells, green hydrogen, batteries, and fuel cells over the next three years. He also said Reliance will set up 100 GW of solar power generating capacity. India will present to the world a template of a Green Economy Movement. We will build two additional divisions to further strengthen the green energy ecosystem. He also announced the launch of JioPhone Next, a fully-featured smartphone, that is developed in partnership with Google.JioPhone next will be launched first in India on September 10, and later it will be taken to many other countries. Mukesh Ambani said that Jio will use Google Cloud's next-generation technologies to power Jio's 5G solutions. Read more

Closing Bell:Sensex gains 392.92 points Nifty at 15790.45

Thursday, June 24, 2021
At Close, Sensex ended up 392.92 points or 0.75% at 52699.00, and the Nifty jumped 103.50 points or 0.66% at 15790.50 led by Nifty IT. Infosys, TCS, and Tech Mahindra were the top Sensex gainer. While RIL, Bharti Airtel Power Grid Corporation and HDFC were the top laggards. About 1415 shares have advanced, 1717 shares declined, and 135 shares are unchanged. The Nifty sectoral indices were mixed, with the Nifty IT index, up 2.79 percent, leading the gainers, while the Nifty PSU Bank index, down 1.4 percent, bled the most. Bank Nifty ended in the green. Nifty Media and Nifty Pharma closed in the red. The S&P BSE MidCap and SmallCap indices ending 0.51 and 0.22 percent lower, respectively. India VIX closed 1% lower.

MARKET UPDATE:Sensex up 250 points at 52,560 levels and Nifty topped the 15,750-mark

Thursday, June 24, 2021
The Indian benchmark indices traded nearly half a percent higher in early deals today (24th June 2021) ahead of 44th Reliance Industries AGM and the monthly F&O expiry. The S&P BSE Sensex was up 250 points, or 0.5 percent, at 52,560 levels and the Nifty50 index topped the 15,750-mark. TCS, Infosys, and Tata Steel were the top Sensex gainers, while Bajaj Auto and NTPC were the top laggards. Majority of the Nifty sectoral indices traded in the green, led by the Nifty IT index, up 0.9 percent. The S&P BSE MidCap index was flat in the broader markets while the SmallCap index ticked up 0.3 percent. The shares of Shyam Metalics and Sona Comstar are slated to list on the bourses today. A strong debut is on the cards for Shyam Metalics while Sona Comstar is likely to witness a muted listing, suggest grey market trends. Read more

Indian benchmark indices snapped their three-day winning streak as investors booked profits

Wednesday, June 23, 2021
Benchmark indices snapped their three-day winning streak and ended half a percent lower today(23rd June 2021) as investors booked profits at higher levels. Besides, a cut in India's CY21 growth forecast by Moody's further dampened the sentiment on the Street. Barring the auto segment, all other sectoral indices settled the session in the red with the Nifty Metal (1 percent) and IT (0.87 percent) indices nursing the steepest losses. Overall, the S&P BSE Sensex index closed at 52,306 levels, down 282.6 points or 0.54 percent while the Nifty50 index ended at 15,687 levels, down 86 points or 0.54 percent. Maruti Suzuki, Titan Company, Bajaj Finserv, M&M, Ultratech Cement, Hero MotoCorp, and ONGC were the top gainers in the large-cap space while Adani Ports, Wipro, JSW Steel, Divis Labs, Shree Cement, L&T, Kotak Bank, and TCS were the top laggards. Read more

Bharat Electronics surges 12%,stock hits 52-week high

Wednesday, June 23, 2021
Shares of Bharat Electronics (BEL) gains 12 percent of Rs 170 on the BSE in intra-day trade on Wednesday and hit over a three-year high after the company reported a strong set of numbers for the quarter ended March 2021. The state-owned aerospace and defense electronics company reported a net profit of Rs 1352.38 crore in the quarter ended March 2021, up 30.73 percent year-on-year (YoY) compared to Q4 FY20 of Rs 1034.52cr. The company has achieved a turnover of Rs6757.05cr for the quarter ended 31st March 2021, as against Rs5725.49cr for the corresponding quarter of the previous year up 18 percent. In Q4FY21, BEL reported a 30.7 percent year-on-year (YoY) jump in profit after tax (PAT) at Rs 1,352 crore on the back of healthy revenue growth and operational performance. Besides, the company has recommended a final dividend of Rs 1.20 per equity share 120 percent of Rs 1 each for the financial year 2020-21. Read more

Moody's slashed India's growth projection to 9.6% from earlier estimate of 13.9% for 2021

Wednesday, June 23, 2021
Moody's today(23rd June 2021) slashed India's growth projection to 9.6 percent for the 2021 calendar year, from its earlier estimate of 13.9 percent, and said faster vaccination progress will be paramount in restricting economic losses to the June quarter In its report titled 'Macroeconomics India: Economic shocks from second COVID wave will not be as severe as last year's, Moody's said high-frequency economic indicators show that the second wave of COVID-19 infections hit India's economy in April and May. With states now easing restrictions, economic activity in May is likely to signify the trough. "The virus resurgence adds uncertainty to India's growth forecast for 2021; however, it is likely that the economic damage will remain restricted to the April-June quarter. We currently expect India's real GDP to grow at 9.6 percent in 2021 and 7 percent in 2022," Moody's said. Read more

Closing Bell:Sensex down 282 points, Nifty at 15686.95

Wednesday, June 23, 2021
At close, the Sensex was down 282.63 points or 0.54% at 52306.08, and the Nifty was down 85.80 points or 0.54% at 15687 as investors booked profits at higher levels. Maruti Suzuki India was the top gainer followed by Titan Company and Bajaj Finserv. Larsen & Toubro, Kotak Mahindra Bank, Tata Steel, and HDFC were the worst performers. About 1335 shares have advanced, 1629 shares declined, and 116 shares are unchanged. Except for the auto segment, all other sectoral indices settled the session in the red with the Nifty Metal 1 percent and IT 0.87 percent indices nursing the steepest losses. The BSE MidCap and SmallCap indices 0.26 percent and 0.43 percent lower, respectively. India VIX surged 4%

MARKET UPDATE:Sensex hovered around 52,680 levels, up 90 points and Nifty topped the 15,800-mark

Wednesday, June 23, 2021
The benchmark indices in India traded flat with a positive bias in morning deals today(23rd June 2021)after a volatile start to the session. The S&P BSE Sensex hovered around 52,680 levels, up 90 points, or 0.17 percent, and the broader Nifty50 index topped the 15,800-mark. IndusInd Bank and Tata Steel were the top Sensex gainers. All the Nifty sectoral indices traded in the green, led by the Nifty Metal index, up 0.8 percent. In the broader markets, the S&P BSE MidCap index was flat while the SmallCap index ticked up 0.2 percent. Sixty-four companies, including Apollo Hospitals Enterprise, Mcleod Russel India, Allcargo Logistics, and HCC are scheduled to release their quarterly earnings today. Read more

RBI will use the existing 10-year bond to raise at least Rs 14,000 crore from the markets

Tuesday, June 22, 2021
The RBI will use the existing 10-year bond to raise at least Rs 14,000 crore from the markets on Friday, taking the outstanding of the paper to more than Rs 1.33 trillion, possibly the highest ever amount raised against security. Generally, a fresh set of bonds is announced after about Rs 1.2 trillion is raised against security, but this is possibly the only case where that limit has been breached. This gives credence to the theory that the central bank may not want to issue a fresh set of 10-year papers in a hurry and would rather continue with the existing security.

Indian firms' market capitalisation grew at the fastest pace last year:SBI

Tuesday, June 22, 2021
Last year Indian companies' market capitalization has grown at the fastest pace among major economies in spite of contraction in GDP, according to economists from SBI. Further, retail investors have shown higher interest in markets and their numbers have increased by 1.42 crore in FY21 and another 44 lakh in April and May, they said in a note, wondering if this will be a lasting behavioral change or is transitory. The economists at SBI attributed the growth in equity markets to lower returns on other financial instruments amid a low rates regime, increase in global liquidity, and even a tendency to spend more time at home because of mobility restrictions which led many to trade more. The 30-share benchmark index BSE has rallied from 28,000 points in early April 2020, to over 52,000 points at present. Read more

Maruti Suzuki gains 5 percent as it plans to hike car prices effective July

Tuesday, June 22, 2021
Maruti Suzuki shares rose 5.5 percent to Rs 7,299 on the BSE in intra-day trade on Tuesday after automobile maker Maruti Suzuki India on Monday said it will hike prices of its cars in the second quarter of the current fiscal due to an increase in the input costs. Maruti Suzuki has not specified the extent of the price hike yet. “Over the past year, the cost of the company's vehicles continues to be adversely impacted due to an increase in various input costs. Hence, it has become imperative for the company to pass on some impact of additional cost to customers through a price rise. The price rise has been planned in quarter 2 and the increase shall vary for different models,” Maruti Suzuki said in a statement. On January 18 this year, the automaker had announced a price hike of select models by up to Rs 34,000 due to a rise in input costs. On April 16, Maruti Suzuki announced the weighted average price increase in ex-Showroom Prices (Delhi) across models of 1.6 percent. Read more

Closing Bell: Sensex up 14 points, Nifty at 15772.75

Tuesday, June 22, 2021
At close, the Sensex was up 14.25 points or 0.03% at 52588.71, and the Nifty was up 26.30 points or 0.17% at 15772.80 as investors booked profit on Tuesday ahead of testimony from US Fed Chair Jerome Powell later in the day. Maruti Suzuki India was the top gainer followed by Ultratech Cement, Larsen & Toubro, and TCS. On the downside, Asian Paints, Bajaj Finance, HUL, Nestle India, Sun Pharma, Kotak Bank, Tech M, and IndusInd Bank underperformed the index. About 1839 shares have advanced, 1136 shares declined, and 97 shares are unchanged. The Nifty Auto index was the best performing index, up 1.4 percent. The Nifty Bank and Realty indices, on the other hand, slipped 0.3 percent each. The small-cap stocks gained 0.83 percent higher, While the BSE MidCap index closed 0.33 percent up. India VIX, the volatility index closed 2% lower.

MARKET UPDATE:Sensex was up 360 points at 52,930 levels and Nifty testing the 15,850-mark

Tuesday, June 22, 2021
The benchmark indices in India rose over half a percent in early deals today(22nd June 2021), amid favourable cues from other global markets. The S&P BSE Sensex was up 360 points, or 0.69 percent, at 52,930 levels and the Nifty50 index was testing the 15,850-mark. Maruti Suzuki rose 2 percent and was the top Sensex gainer, followed by IndusInd Bank, Titan, ICICI Bank, and State Bank of India (all up over 1%). The Nifty sectoral indices were painted green, led by the Nifty PSU Bank index, up 1.9 percent. The broader markets, meanwhile, outran their benchmark peers. The S&P BSE MidCap and SmallCap indices traded 0.9 percent and 1.2 percent higher, respectively. Seventy-nine companies, including NMDC, Aster DM Healthcare, Bharat Electronics, and Jaypee Infratech are scheduled to release their quarterly earnings today.

These stocks show positive momentum

Monday, June 21, 2021
Taking cues from global markets, the Indian benchmark indices have declined over 2 percent from recent peaks while the Nifty Bank index has tumbled over 5.50 percent from its peak. Today(21st June 2021), the Indian benchmark indices clawed their way out of the early lows but were still trading half a percent down. The weakness, however, can be seen as an opportunity by investors as major medium-term supports are not broken, technical charts suggest. Here are some stocks showing positive momentum. Read more

Nifty PSU Bank index gains 4% after the news of divestment in the Central Bank of India and Indian Overseas Bank

Monday, June 21, 2021
Shares of Central Bank of India, Indian Overseas Bank (IOB) J&K Bank were locked in 20 percent upper circuit on the National Stock Exchange (NSE) on Monday on the back of heavy volumes amid reports that the two financial institutions CBI and IOB might be privatized. On the back of the rally in these three stocks Nifty PSU Bank index surged as much as 4.4 percent to 2,484.15 levels. All of the 13 constituents of the pack traded in the green with maximum gains seen for the counters such as J&K Bank, Indian Overseas Bank, and Central Bank. “Disinvestment news in CBI and IOB lead the rally in PSU Banking basket. For taking ahead of the divestment process, the center shall amend the Banking Regulations Act together with other banking laws. Read more

Closing Bell: Sensex gains 230 points, Nifty at 15746.50

Monday, June 21, 2021
At Close, Sensex closed the day 230 points, or 0.44 percent, higher at 52,574.46 while the Nifty settled with a gain of 63 points, or 0.40 percent, at 15,746.50 reversing the steep losses logged in the morning, amid board-based buying. NTPC, Titan Company, and State Bank of India closed as the top index performers while Tech Mahindra, Maruti, and TCS were the worst performers. The Nifty PSU Bank index ended 4 percent higher amid reports that the two financial institutions might be privatized. The Nifty Realty index was up 2 percent and the Nifty Metal, Private Bank, Bank, and FMCG indices gained up to 1 percent each. On the contrary, the Nifty IT and Auto indices slipped 0.2 percent and 0.36 percent, respectively. The BSE MidCap and SmallCap indices gained 0.8 percent each. India VIX ended flat.

MARKET UPDATE:Sensex slid 350 points to 51,960 levels and Nifty around the 15,550-mark

Monday, June 21, 2021
The benchmark indices in India fell over half a percent in early deals today(21st June 2021), tracking weak cues from other Asian markets. The S&P BSE Sensex slid 350 points, or 0.68 percent, to 51,960 levels and the broader Nifty50 index was around the 15,550-mark. ICICI Bank fell 2 percent and was the top Sensex laggard, followed by Mahindra & Mahindra, State Bank of India, and IndusInd Bank (all down over 1%). The Nifty sectoral indices were painted red, with Nifty Metal and Nifty PSU Bank indexes, down 2 percent each, bleeding the most. The S&P BSE MidCap and SmallCap indices traded 0.9 percent and 0.7 percent down in the broader markets, respectively. Seventy companies, including Oil India, Info Edge, Bharat Dynamics, TCNS Clothing, and VST Tillers Tractors, are slated to post their quarterly numbers.

What next week

Friday, June 18, 2021
Next week with no major event, global cues will continue to dictate the c experts feel. On the domestic front, the progress of the monsoon and updates on the vaccination drive will be closely watched. Indications are in the favor of further consolidation in the index but the bias would remain on the positive side till Nifty holds above 15,400. Meanwhile, participants should maintain their focus on the selection of stocks and use dips to gradually accumulate the fundamentally sound counters.

RIL, HUL, Airtel help indices log V-shaped recovery

Friday, June 18, 2021
In today's(18th June 2021) intra-day session Indian benchmark equity indices slumped over 1 percent but made a sharp V-shaped recovery to end the day with little change. Financials and metals exerted pressure on the bourses, even as gains in Reliance Industries, FMCG, and select private bank stocks tried to limit the losses. The S&P BSE Sensex fell 722 points intra-day but recovered to close 21 points, or 0.04 percent, higher at 52,344 levels. The broader Nifty50 index, meanwhile, bounced back from the day's low of 15,451 to end at 15,683 levels, down 8 points or 0.05 percent. The correction was deeper in the broader markets where the BSE MidCap and SmallCap indices closed 0.70 percent and 0.89 percent down, respectively. Read more

Globus Spirits share zoomed 50 percent in a week and hits a new high

Friday, June 18, 2021
Shares of breweries and distilleries Globus Spirits shares gained 10 percent and hits a new high of Rs 584 on the National Stock Exchange (NSE) in intra-day trade on Friday. This stock zoomed nearly 53% in the last 5 sessions. The liquor company reported a more-than-double consolidated profit at Rs 50.63 crore in the March-ended quarter of the financial year 2020-2021 amid strong revenue, as compared to Rs 19.35 crore in the same period a year ago. The company's sales rose 31.37 percent to Rs 356.68 crore from Rs 271.51 crore during the same quarter of the previous year. For the full year, net profit was up 182 percent to Rs 140.84 crore against Rs 49.90 crore during the previous year. Ebitda (earnings before interest, taxes, depreciation, and amortization) margin grew by over 1140 bps YoY to 24.9 percent in Q4FY21 from 13.5 percent in Q4FY20, on account of a higher share of consumer business, and better realizations on ENA (Extra Neutral Alcohol) and ethanol. Read more

Closing Bell:Sensex up 21 points, Nifty at 15683.35

Friday, June 18, 2021
At Close, the Sensex was up 21.12 points or 0.04% at 52344.45, and the Nifty was down 8.00 points or 0.05% at 15683.40, zooms 743 pts from the day’s low. HUL, Bajaj-Auto, Bharti Airtel, Bajaj Finserv, HDFC Bank, IndusInd Bank, Infosys, RIL, Titan Company were top Sensex gainers. About 1182 shares have advanced, 1964 shares declined, and 126 shares are unchanged. On the flip side, ONGC, NTPC, Power Grid Corporation of India, Mahindra & Mahindra (M&M), Nestle India, SBI were top index losers. The Nifty PSU Bank declined nearly 2 percent while the Nifty Auto, Metal, and Realty indices slipped up to 1 percent each. On the upside, the Nifty FMCG index ended 0.29 percent higher. The BSE MidCap and SmallCap indices closed 0.70 percent and 0.89 percent down, respectively.

Nazara Technologies tanked 12 per cent to Rs 1,463.75

Friday, June 18, 2021
Shares of Nazara Technologies tanked 12 percent to Rs 1,463.75 on the BSE in intra-day trade today(18th June 2021), amid heavy volumes, after the foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation. The stock was trading close to its 52-week low level of Rs 1,412.50 hit on April 12, 2021. It had hit a high of Rs 2,026.90 on its stock market debut day, March 30, 2021. Nazara Technologies is an Indian gaming and sports media platform with a presence in India, North America, Africa, and the Middle East. Its product portfolio includes offerings across interactive gaming, eSports, and gamified early learning ecosystems like World Cricket Championship & Carrom Clash in mobile games, Kiddopia in gamified early learning, Nodwin & Sportskeeda in eSports and eSports media, and Halaplay and Qunami in skill-based, fantasy, and trivia games. Read more

Major cryptocurrencies traded lower today

Friday, June 18, 2021
Major cryptocurrencies traded lower today(18th June 2021) as the US regulator delayed the approval of Bitcoin ETFs which has dented the sentiments of crypto investors. However, digital tokens, pegged with dollars, showed signs of resilience. The majority of the top 10 digital tokens were trading with cuts at 9.30 hours IST. The Securities and Exchange Commission (SEC) said in a regulatory filing that it will seek public comments on a proposal to list Bitcoin ETFs on Cboe Global Markets Inc. Contrary to US SEC's views, UK watchdog Financial Conduct Authority said more people see crypto assets as a mainstream investment rather than a 'gamble' as ownership of Bitcoin and similar cryptocurrencies have risen to 2.3 million adults in Britain this year. Read more

MARKET UPDATE:Sensex traded around 52,390, up 70 points and Nifty holding the 15,700-mark

Friday, June 18, 2021
The benchmark indices in India edged up in early deals today(18th June 2021), but off the day's high, amid mixed global cues. The S&P BSE Sensex traded around 52,390, up 70 points and the broader Nifty50 index was holding the 15,700-mark. Bajaj Finserv and Sun Pharma gained 1 percent, each, and were the top Sensex gainers. On the other hand, ONGC fell 2 percent. The Nifty sectoral indices traded mixed, with the Nifty IT index, up 0.8 percent, leading the gainers. In the broader markets, the S&P BSE MidCap index fell 0.2 percent while the SmallCap index was up 0.25 percent. Fifty-two companies, including Ashoka Buildcon, GMR Infrastructure, Hinduja Global Solutions, Insecticides (India), and Welspun Specialty Solutions are set to release their quarterly earnings today. Read more

Sensex slips 179 pts as hawkish US Fed tone hits D-Street

Thursday, June 17, 2021
A hawkish tone by the US Federal Reserve crushed equities across the globe today(17th June 2021) as investors feared global central banks may hike rates sooner than expected. US Treasury yields gained overnight and the dollar strengthened against the rupee to its highest level in six weeks, hammering equity prices on Dalal Street. This comes on the day of the weekly F&O expiry, adding to the overall volatility. A mild recovery post a gap-down start quickly dismantled during the last hour of the session as market participants offloaded metal and rate-sensitive counters. The frontline S&P BSE Sensex ended at 52,323 levels, down 179 points or 0.34 percent. On the NSE, the Nifty50 index breached below its immediate support of 15,650 and hit a low of 15,616. It recovered marginally to end at 15,691 levels, down 76 points or 0.48 percent. Read more

Curevac's Covid 19 Vaccine Disappoints in Clinical Trial

Thursday, June 17, 2021
The German company CureVac dropped more than 50% in the extended session Wednesday after the company said its COVID-19 vaccine candidate is 47% effective in preventing the disease. The trial, which included 40,000 volunteers in Latin America and Europe, estimated that CureVac’s mRNA vaccine had an efficacy of just 47 percent, among the lowest reported so far from any Covid-19 vaccine maker. The trial will continue as researchers monitor volunteers for new cases of Covid-19, with a final analysis expected in two to three weeks. The CureVac vaccine is of key importance to Europe, which has preordered 225 million doses, with the option to buy 180 million more. “While we were hoping for a stronger interim outcome, we recognize that demonstrating high efficacy in this unprecedented broad diversity of variants is challenging,” Chief Executive Franz-Werner Haas said in a statement. Read more

Closing Bell: Sensex down 179 points, Nifty at 15691.40

Thursday, June 17, 2021
At close, the Sensex was down 178.65 points or 0.34% at 52323.33, and the Nifty was down 76.10 points or 0.48% at 15691.40 amid weak global cues after US Fed signaled higher rates in 2023 in its policy outcome on Wednesday. IndusInd Bank, NTPC, Dr Reddy’s Lab, Maruti Suzuki, Axis Bank, Bajaj-Auto, Bharti Airtel, HDFC Bank, State Bank of India (SBI), Housing Development Finance Corporation (HDFC), were top index losers. On the flip side, Tata Consultancy Services (TCS), UltraTech Cement, Infosys, Asian Paints, Tech Mahindra, RIL, HCL Tech were index gainers. About 1347 shares have advanced, 1784 shares declined, and 149 shares are unchanged. The Nifty Metal index slipped 2 percent, followed by the Nifty Realty index down1.6 percent and the Nifty PSB and Auto indices around 1.5 percent each. The Nifty FMCG and IT indices, on the other hand, gained 0.14 percent and 0.57 percent, respectively. The BSE MidCap index cracked 1.3 percent while the BSE SmallCap index slipped 0.58 percent.

MARKET UPDATE:Sensex fell 210 points to 52,290 and Nifty traded below the 15,700-mark

Thursday, June 17, 2021
In Indian markets, benchmark indices followed the losses in global markets and edged lower in early deals today(17th June 2021) amid the US Federal Reserve's indication that it could begin raising interest rates in 2023. The S&P BSE Sensex fell 210 points to 52,290 and the broader Nifty50 index traded below the 15,700-mark. HDFC Bank, HDFC, Axis Bank, and Kotak Mahindra Bank fell 1 percent, each, and were the top Sensex laggards. All the Nifty sectoral indices were trading in the red, with the Nifty Metal index, down 1.5 percent, bleeding the most. In the broader markets, the S&P BSE MidCap index fell 0.6 percent, while the SmallCap index was flat. Thirty-three companies, including Power Grid Corporation, Natco Pharma, Jammu & Kashmir Bank, DB Corp, and Khadim India are scheduled to release their quarterly earnings today. Read more

LIC Housing Finance dips 4% as investors booked profit

Wednesday, June 16, 2021
Shares of LIC Housing Finance slid 4 percent to Rs 501 on the BSE in intra-day trade today(16th June 2021) as investors booked profit after the company reported a good set of numbers for the March quarter (Q4FY21) on the operating and business growth front. However, a steep rise in provisions dented profitability. The board approved a dividend at 425 percent i.e. Rs 8.50 per equity share of Rs 2 each for the financial year 2020-2021. The stock has corrected 8 percent from its 52-week high level of Rs 542, touched on Friday (June 11, 2021) with today’s decline. Despite the past couple of days' fall, LIC Housing Finance has outperformed the market by gaining 18 percent, as compared 8 percent rise in the S&P BSE Sensex in the past month.

India’s best-performing stock funds have bet on companies that produces chemical substances

Wednesday, June 16, 2021
For three funds that have delivered the biggest returns, this year Chemicals producers make up at least 14% of the portfolio according to the data available. Those bets have paid off thanks to the rising global appetite for specialty chemicals in industries such as automobiles and cosmetics amid a recovery from the pandemic. India is emerging as a hub for specialty chemicals, helped by favorable policy measures that include decisions such as imposing anti-dumping duty on some imports and a proposal for production-linked incentives. Producers have also benefited from a ‘China-plus-one’ strategy that has made companies around the world diversify their supply chains from the Asian superpower amid geopolitical concerns. Read more

Newgen Software shares hit 52-week high after promoters sell 10.57% stake

Wednesday, June 16, 2021
Shares of Newgen Software Technologies hit a 52 week high, surging 4 percent to Rs 519.45, on the BSE in Wednesday's intra-day deals after the promoters sold their 10.57 percent stake in the company via open market on Tuesday. Three promoters of Newgen Software Technologies Ltd on Tuesday offloaded shares worth over Rs 335 crore of the firm which represents a 10.57 percent equity stake in the Company through open market transactions. The aforesaid stake in the Company was sold at an average price of approximately Rs 454 per equity share, which was at a marginal discount to the closing price of the stock on NSE on June 14, 2021, of Rs 458.3 per equity share, it said. Read more

Closing Bell:Sensex down 271 points, Nifty at 15767.55

Wednesday, June 16, 2021
At Close, The BSE Sensex index fell 271 points, or 0.51 percent, to close at 52,501.98 while the Nifty ended 102 points, or 0.64 percent, lower at 15,767.55.The top BSE Sensex laggards were Power Grid Corporation of India, IndusInd Bank, Reliance Industries Ltd (RIL), L&T, and UltraTech Cement, among others. On the flip side, stocks of Nestle India, ONGC, NTPC, Hindustan Unilever Ltd (HUL), Infosys, ITC, and TCS were the top gainers.The Nifty Metal index skidded 3 percent, the Nifty PSU Bank and Realty indices dropped over 1 percent each.BSE Basic Materials, energy, industrials, telecom, capital goods, consumer durables, power, and realty indices fell over a percent each. On the contrary, the Nifty FMCG and IT indices gained 0.5 percent and 0.25 percent, respectively. The BSE MidCap index slipped 0.95 percent while the BSE SmallCap index dipped 0.68 percent.

MARKET UPDATE:Sensex traded 100 points down at 52,690 levels and Nifty slipped below the 15,850-mark

Wednesday, June 16, 2021
The Indian benchmark indices edged lower in early deals today(16th June 2021), amid weakness in financials and pharma stocks. The S&P BSE Sensex traded 100 points down at 52,690 levels and the broader Nifty50 index slipped below the 15,850-mark. The Nifty sectoral indices traded mixed, with gains in the Nifty FMCG index, up 0.35 percent, being offset by the Nifty Bank index, down 0.3 percent. Thirty-two companies, including RITES, CESC, Welspun Enterprises, Commercial Syn Bags, DIC India, and Kakatiya Cement Sugar are set to release their quarterly earnings today. Read more

Financial wealth in India jumps 11% to $3.4 trillion in pandemic year

Tuesday, June 15, 2021
Financial wealth is the total wealth excluding real assets and liabilities held by adult individuals. Financial wealth in India grew 11 percent to USD 3.4 trillion in 2020 despite the coronavirus pandemic, according to a global consultancy estimation published today(15th June 2021). The 11 percent growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report said. It can be noted that after a sharp correction in the early days of the pandemic, there has been a continuing rally in stocks since April last year, which has led to concerns being expressed across quarters. Concerns are also being expressed about a greater disparity in incomes and the pandemic widening the divide. The report noted that the next few years will also see a faster expansion in financial wealth, but the rate of expansion will slow down marginally to 10 percent per annum to take the number to USD 5.5 trillion by 2025. Read more

Top loss-making firms created Rs 2.3L cr wealth for investors in just over a year

Tuesday, June 15, 2021
Ten top loss-making companies, created an aggregate wealth of Rs 2,30,000 crore for investors since April 1, 2020, as investors put big bets on them in hopes of a turnaround in businesses. These have a combined loss of over Rs 82,000 crore in FY21. Bharti Airtel narrowed its losses to Rs 23,328 crore in FY21 from Rs 32,955.30 crore in FY20, data compiled from corporate database AceEquity showed. Its shares have added Rs 56,691.89 crore in notional wealth since April 1, 2020. Post Airtel’s March quarter earnings in May, Goldman Sachs said the market was under-appreciating a ‘market share re-allocation scenario and believes one of the two outcomes - tariffs moving up or market share re-allocation – is highly likely in the near term. CLSA has a target of Rs 730 on the stock while Citi sees it at Rs 685. Read more

Jubilant Food Q4 result

Tuesday, June 15, 2021
Jubilant Foodworks on Tuesday reported a 395.5 percent year-on-year rise in its net profit to Rs 104.3 crore for the quarter ending March. The net profit of the company was predicted to be Rs 116.5 crore by the analysts. The company reported revenue from operations of Rs 1,025.9 crore for the reported quarter, up 14.3 percent on-year but slightly below Street’s estimates. The company’s board also approved a final dividend of Rs 6 per share for the financial year ended March 2021. The company’s earnings before interest, tax, depreciation, and amortization rose 47 percent year-on-year to Rs 249.2 crore. Some-store sales growth for Domino’s in the quarter stood at 11.8 percent as against negative 3.4 percent in the year-ago period. On a like-to-like basis, growth was at 15.1 percent as against negative 2.3 percent in the year-ago period. Read more

Closing Bell:Sensex gains 221.52 points, Nifty at 15869.25

Tuesday, June 15, 2021
At close, the Sensex was up 221.52 points or 0.42% at 52773.05, and the Nifty was up 57.40 points or 0.36% at 15869.30. Asian Paints, Axis Bank, ICICI Bank, Hindustan Unilever Ltd, IndusInd Bank, Infosys, HDFC Bank, Nestle India were among the top BSE Sensex gainers. On the contrary, Bajaj Finserv, Dr. Reddy’s, Titan Company, Sun Pharma, Bajaj Finance, Power Grid Corporation of India, TCS, Tech Mahindra were among the top draggers. About 1894 shares have advanced, 1256 shares declined, and 139 shares are unchanged. Sectorally, the Nifty Pharma, PSU Bank, and Metal indices were the losers on the NSE, down 0.8 percent, 0.26 percent, and 0.05 percent, respectively. On the upside, the Nifty Media index (up 2 percent) and the Nifty Realty index up 1.3 percent were the top gainers. The BSE MidCap index gained 0.6 percent higher and the BSE SmallCap index too gained 0.4 percent.

MARKET UPDATE:Sensex rose 270 points at 52,820 levels and Nifty topped the 15,850-mark

Tuesday, June 15, 2021
The benchmark indices in India logged fresh lifetime highs in early deals today(15th June 2021), on the back of across-the-board buying. The S&P BSE Sensex rose 270 points, or 0.48 percent, at 52,820 levels and the broader Nifty50 index topped the 15,850-mark. IndusInd Bank and Asian Paints ticked up 1 percent and were the top Sensex gainers. All the Nifty sectoral indices, except Nifty Pharma, traded in the green, led by the Nifty Private Bank index, up 1 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 0.44 percent and 0.63 percent, respectively. Forty-five companies, including Jubilant FoodWorks, Power Finance Corporation, LIC Housing Finance, and Easy Trip Planners are set to release their quarterly earnings today.

Indian banks proved the doomsday predictions wrong in a pandemic year

Monday, June 14, 2021
When the Covid-19 pandemic broke out in March last year and a nationwide lockdown was imposed to restrict its spread, there were concerns all around over its impact on the banking sector. Bad loans were stabilising after a relentless rise for several years and there was a ray of hope for the banking sector after a long time with non-performing assets have crossed the hump. Then the Covid-19 pandemic broke out crippling economic activity due to the lockdown and fears of asset quality problems resurfaced. The Reserve Bank of India (RBI) too, raised a red flag about the possible ballooning of bad loans. Stress tests by RBI projected gross non-performing assets of the Indian banks to shoot up to 13.5% by September 2021 as compared to 7.5% in September 2020 – under a baseline scenario. The situation was predicted to worsen under a severe stress scenario. Read more

Adani Group shares fell 20 percent after NSDL freezes 3 FPI accounts

Monday, June 14, 2021
Adani Group stocks fell 20 percent on Dalal Street today morning, hitting the lower circuit within the initial minutes of trade. The fall in Adani Group shares came after reports surfaced that National Securities Depository Limited (NSDL) froze three accounts of Foreign Portfolio Investors (FPI) that owned a significant stake in Adani Group Companies.As per an Economic Times report, NSDL froze the accounts of Albula Investment Fund, Cresta Fund and APMS Investment Fund, which together own more than Rs 43,500 crore worth of shares in Adani Enterprises, Adani Green Energy, Adani Transmission and Adani Total Gas. The freeze on the three accounts could be because of insufficient disclosure of information regarding beneficial ownership as per the Prevention of Money Laundering Act (PMLA), said top officials at custodian banks and law firms handling foreign investors. Read more

Closing Bell:Sensex up 76.77 points, Nifty at 15811.85

Monday, June 14, 2021
At close, the Sensex was up 76.77 points or 0.15% at 52551.53, and the Nifty was up 12.50 points or 0.08% at 15811.90. Reliance Industries Ltd (RIL), Bajaj Finance, Power Grid Corporation of India, ONGC, Infosys, L&T, TCS, SBI were among top Sensex gainers. On the flip side, Kotak Mahindra Bank was the top index laggard, followed by NTPC, Housing Development Finance Corporation (HDFC), Tech Mahindra, Sun Pharma. About 1624 shares have advanced, 1625 shares declined, and 150 shares are unchanged. The Nifty PSU Bank index ended the day as the top gainer on the NSE, up 1 percent, while the Nifty Realty index closed as the worst performers, down 1.4 percent. The BSE MidCap index ended the day in the red, down 0.7 percent, While the BSE SmallCap index closed 0.2 percent lower.

MARKET UPDATE:Sensex dipped 230 points and hovered around the 52,240-mark and Nifty hovered below the 15,750-mark

Monday, June 14, 2021
The markets in India traded lower, but off the day's bottom, in morning deals today(14th June 2021), amid a weak trend in metals and public sector banks. The S&P BSE Sensex dipped 230 points, down 0.4 percent, and hovered around the 52,240-mark. The index fell to as low as 51,936 in intra-day deals. Meanwhile, the broader Nifty50 hovered below the 15,750-mark. Bajaj Finance fell 2 percent and was the top Sensex laggard, followed by NTPC, Dr. Reddy's, Bharti Airtel, and State Bank of India (all down 1%). Among other individual stocks, Adani Group stocks (Adani Enterprises, Adani Power, Adani Ports, Adani Transmission) hit their respective lower circuits on a report that the NSDL has frozen the accounts of three foreign funds — Albula Investment Fund, Cresta Fund, and APMS Investment Fund — which together own over Rs 43,500 crore worth of shares in four Adani Group companies. Read more

No change in GST on vaccines, but tax cut for other Covid essentials

Saturday, June 12, 2021
In its 44th meeting today(12th June 2021), the Goods and Services Tax (GST) Council, chaired by Union Finance Minister Nirmala Sitharaman, approved all recommendations of GoM on rate rationalisation. The GoM, set up by the Council on May 28, was mandated to look at tax exemption and concessions on various Covid items including vaccines, drugs, and equipment. GST on ambulances has been reduced to 12% from the current 28%. GST Council slashed the tax rate from 12% to 5% on medical grade oxygen, BiPaP machines, oxygen concentrators, ventilators, hand sanitisers, temperature check equipment, high flow nasal cannula, pulse oximeter. Also, the tax on Covid testing kits has been brought down to 5% from 12%. "Today's meeting was a single-agenda meeting on the Group of Ministers which was constituted in last GST Council meeting to come up with recommendations on tax relief for Covid-19 essentials," said Finance Minister. Read more

BSE IT index hits record high

Friday, June 11, 2021
Today (11th June 2021)Shares of information technology (IT) companies were in demand on the bourses with Wipro and Tech Mahindra hitting all-time highs, while Tata Consultancy Services (TCS) and Infosys were quoting close to their respective record highs on the BSE. Besides Wipro and Tech Mahindra, a total of 10 stocks including Mastek, Mindtree, Happiest Minds Technologies, Mphasis, and Coforge too hit their new highs in Friday's intra-day deals.TCS, meanwhile, gained 3 percent to quote at Rs 3,309, while Infosys was up 2 percent at Rs 1,451.55. TCS had hit a record high of Rs 3,358 on April 9, 2021, and Infosys had touched a high of Rs 1,480 on April 12. Among other individual stocks, Tech Mahindra hit a record high of Rs 1,082, up 2 percent on the BSE, surpassing its earlier high of Rs 1,081.35 touched on January 11, 2021. In the past one week, the stock has gained 6 percent. Read more

TCS stock up 3000% since its IPO -Chandrasekaran

Friday, June 11, 2021
Tata Consultancy Services (TCS) has navigated the pandemic very well, and has earned tremendous goodwill from customers, which enhanced the firm’s standing in the market, N Chandrasekaran, chairman, said in his virtual address of the 26th Annual General Meeting on Thursday. He said, if an investor had invested in TCS IPO investor’s wealth would have increased by 3000% in 17 years. One share of TCS at a price of Rs 850 during the IPO in 2004 would be worth Rs 28000 today, giving shareholders a 3000% return on their investment. On the performance of the company, he said barring the first quarter of the fiscal year, the company delivered a sharp recovery. For FY21, TCS has returned Rs 33,873 crore in dividends and buyback to shareholders, resulting in a payout of 95 per cent of free cash flow.Chandrasekaran also recounted the contribution of FC Kohli, who led TCS during the initial 27 years, navigating multiple technology waves investing continuously in people and in research Read more

Closing Bell: Sensex up174.25 points, Nifty at 15799.35

Friday, June 11, 2021
At close, the Sensex was up 174.29 points or 0.33% at 52474.76, and the Nifty was up 61.60 points or 0.39% at 15799.40 hitting new lifetime highs. Axis Bank, ICICI Bank, L&T, HDFC Life, and SBI were the top losers. While Dr. Reddy’s, Power Grid, TCS, HCL Tech, and Infosys were the top gainers on Sensex. About 1744 shares have advanced, 1368 shares declined, and 138 shares are unchanged. The Nifty Metal index zoomed nearly 3 percent on the NSE, followed by the Nifty IT and Pharma indices, up over 1 percent higher each. The BSE MidCap index, on the other hand, closed 0.14 percent up while the BSE SmallCap index ended 0.4 percent higher. India VIX, the volatility gauge was down 6% on closing.

Nomura ups India's 2022 GDP forecast to 7.7%

Friday, June 11, 2021
Nomura has raised India’s gross domestic product (GDP) forecast for 2022 by 0.7 percentage points (pp) to 7.7 percent in spite of the second wave of Covid infections that brought the economic activity in most cities to a standstill in the past few months. The research and brokerage house has rejigged the forecasts for consumer price inflation (CPI) and current account deficit. “We raise our 2021 and 2022 current account (CA) deficit forecasts to 1.5 percent and 1.3 percent of GDP, respectively (from 1.1 percent and 0.8 percent), and CPI inflation to 5 percent and 5.3 percent (from 4.9 percent in both years). We also pencil-in an additional 25bp repo rate hike in Q3 2022,” according to a note of Nomura. The first flush of growth indicators for May, according to Nomura, suggest a significant hit to consumption and services, with the manufacturing and export sectors being more resilient. The overall impact, Varma and Nandi said, is turning out to be less than during the first wave Read more

MARKET UPDATE:Sensex up 250 points, at 52,550 levels and Nifty topped the 15,800-mark

Friday, June 11, 2021
The markets in India made a strong start to today's(11th June 2021) session, with the benchmark indices logging fresh record highs in the early deals. The S&P BSE Sensex was up 250 points, or 0.48 percent, at 52,550 levels and the Nifty50 index topped the 15,800-mark. PowerGrid (up 2%) was the top Sensex gainer, followed by Reliance Industries and ONGC trading 1 percent, each. The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 1.5 percent. The S&P BSE MidCap and SmallCap indices traded 0.6 percent and 0.8 percent higher in the broader markets, respectively. Fifty-seven companies, including BEML, BHEL, CG Power, Cochin Shipyard, DLF, and Sun TV are scheduled to announce their March quarter results today.

IRB Infra up 31% in 8 days ;stock hits 52-wk high

Thursday, June 10, 2021
Shares of IRB Infrastructure rallied 7 per cent and hit a 52-week high of Rs 139.40, ron the National Stock Exchange (NSE) in intra-day trade on Thursday, extending its upward movement after the HDFC Mutual Fund acquired more than 1 per cent stake in the company via open market. In the past eight trading days, the stock of the road & highways construction company has soared 31 per cent from the level of Rs 106.25, hit on May 28, 2021. On May 31, 2021, HDFC Mutual Fund bought 2.48 million shares, representing 0.71 per cent of the total equity of IRB Infra, at price of Rs 111 per cent via bulk deal on the NSE, the exchange data shows. The mutual funds, further on June 1, 2021, purchased additional 2.46 million shares, or 0.70 per cent stake in the company, at the price of Rs 111.34 per share, the bulk deal data shows. Read more

Bata India surges 6% despite poor Q4 numbers

Thursday, June 10, 2021
Shares of Bata India surged 6 percent to Rs 1,657.50 on the BSE in intra-day trade on Thursday despite the company reporting a poor set of numbers in the quarter ended March 2021. The Company expects that it would be able to revive its revenue growth trajectory as and when the impact of the Covid-19 phases out. The stock of the footwear company was trading close to its 52-week high level of Rs 1,705 touched on January 11, 2021. According to a regulatory filing by the company to the stock exchanges, Bata India reported a net profit of ₹ 29.47 crores on a consolidated basis in the March quarter of fiscal 2020-21. The country's largest shoemaker's net profit declined 23.3 percent in the March quarter of fiscal 2021. It reported a net profit of ₹ 38.40 crores in the corresponding quarter of the previous fiscal year. The company's revenue from operations was down to ₹ 589.90 crores in the fourth quarter, compared to ₹ 620.57 crores in the same quarter of the previous fiscal. Read more

Closing Bell: Sensex gains 359 points, Nifty at 15737.75

Thursday, June 10, 2021
At close, the Sensex was up 358.83 points or 0.69% at 52,300.47, and the Nifty was up 102.40 points or 0.65% at 15,737.80 led by the realty, PSU bank, metal and pharma names. Bajaj Finance was the top gainer followed by Bajaj Finserv, SBI, IndusInd Bank, and ITC. Bajaj Auto, Maruti, Power Grid, and HCL Technologies were the top laggards. About 2254 shares have advanced, 699 shares declined, and 116 shares are unchanged. All the Nifty sectoral indices, except the Nifty Auto index, closed in the green, with the Nifty Realty index and the Nifty PSU Bank index ending 3 percent and 2 percent higher, respectively. The S&P BSE MidCap and SmallCap indices ended the session 1.26 percent and 1.73 percent higher, respectively.

MARKET UPDATE:Sensex up 160 points at 52,100 levels and Nifty hovered around the 15,700-mark

Thursday, June 10, 2021
The benchmark indices in India were trading nearly half a percent in early deals today(10th June 2021), amid favorable cues from other Asian markets. The S&P BSE Sensex was up 160 points at 52,100 levels and the Nifty50 index hovered around the 15,700-mark. PowerGrid, Tech Mahindra, IndusInd Bank, and Bajaj Finance rose 1 percent, each, and were the top Sensex gainers. All the Nifty sectoral indices, except Nifty FMCG, traded in the green, led by the Nifty Metal index, up 1.3 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices ruled 0.85 percent and 1.32 percent higher, respectively. Sixty-four companies, including Century Plyboards, Mazagon Dock Shipbuilders, NHPC, and SAIL, are scheduled to announce their quarterly earnings today.

Equity mutual funds witnessed a net inflow of over Rs 10,000 crore in May

Wednesday, June 9, 2021
Equity mutual funds witnessed a net inflow of over Rs 10,000 crore in May, making it the third consecutive monthly infusion. This is a 14-month high i.e. highest since March 2020. This was way higher than Rs 3,437 crore net inflow seen in April and Rs 9,115 crore in March Prior to this, equity schemes had consistently witnessed outflow for eight straight months from July 2020 to February 2021. On the other hand, investors pulled out Rs 44,512 crore from debt mutual funds last month after infusing over Rs 1 lakh crore in April. Overall, the mutual fund industry witnessed an outflow of Rs 38,602 across all segments during the period under review, compared to an inflow of Rs 92,906 crore in April. As per the data, inflow from equity and equity-linked open-ended schemes was at Rs 10,083 crore in May. Read more

Nifty IT index could double in one year; Stay put

Wednesday, June 9, 2021
In spite of over 170 percent rally since April last year, the gains in Information Technology (IT) stocks are showing no signs of abating. The Nifty IT index was ruling 0.5 percent higher on the National Stock Exchange (NSE) in today's(9th June 2021) intra-day trade, has soared 14 percent so far in the calendar year 2021. According to analysts, the technology upcycle has just begun and sector players are set to reap benefits of the digital boom and cloud adoption. "A distinct trait of this upcycle would be its margin-accretive nature. The biggest differentiator for this cycle is the acceleration it has triggered towards technology spends and quicker decision-making than any other upcycle in the past. All in all, we remain confident that like in past three IT upcycles, multiple re-ratings will be sharp in the early phase of this cycle as well, followed by earnings upgrades as the Street plays catch up," it said in a recent sector-specific report. Read more

Tata Motors hits over 3-year high

Wednesday, June 9, 2021
Shares of Tata Motors hit an over three-year high of Rs 358.25, up 1.5 percent, on the BSE in intra-day trade on Wednesday on the back of heavy volumes. Tata Motors' share has rallied 13 percent in the past six days. It surpassed its previous high of Rs 357 touched on March 3, 2021, and was trading at its highest level since April 2018. Tata Motors on Tuesday informed stock exchanges that a new wholly-owned subsidiary named ‘TML CV Mobility Solutions Limited’ has been incorporated by the company. TML CV Mobility Solutions was incorporated to provide end to end services of operating, repair, and maintenance including annual maintenance contracts (AMC) and Fleet Management Services (FMS) for the automotive including electric mobility/electric vehicles, electric buses, fuel cell buses, all types of commercial vehicles etc, the company said. Read more

Closing Bell: Sensex down 334 points, Nifty at 15635.35

Wednesday, June 9, 2021
At close, the Sensex was down 333.93 points or 0.64% at 51,941.64, and the Nifty was down 104.70 points or 0.67% at 15,635.40 dragged mainly by sell-off in public sector banks and auto stocks in the second half. Power Grid was the top Sensex gainer followed by NTPC, Titan, and Asian Paints. Reliance Industries, Bharti Airtel, and Larsen & Toubro were the worst performers. About 1425 shares have advanced, 1697 shares declined, and 139 shares are unchanged. All the Nifty sectoral ended today's session in the red, with Nifty Auto, Nifty PSU Bank, and Nifty Realty indexes falling over 1 percent, each. The S&P BSE MidCap and SmallCap indices ended the session 0.71 percent and 0.95 percent lower, respectively. India VIX trimmed some losses but closed 3% lower.

MARKET UPDATE:Sensex at 52,275 levels, down 53 points and Nifty at 15,740-mark, down 11.5 points

Wednesday, June 9, 2021
Indian Benchmark indices traded range-bound around flat line today(9th June 2021). However, broader markets scaled fresh record peaks as stock-specific action dominated the equity markets today. The BSE-barometer of 30 shares ended at 52,275 levels, down 53 points or 0.10 percent while the Nifty50 shut shop at 15,740-mark, down 11.5 points or 0.07 percent. Tata Motors, Tech M, Bharti Airtel, Indian Oil Corporation, HCL Tech, and Infosys were the top gainers on the indices. Hindalco, Tata Steel, JSW Steel, Kotak Bank, HDFC, and SBI, meanwhile, were the top laggards. In the broader market space, the BSE MidCap index hit a record peak for the fifth consecutive day, at 22,822.6 levels, and ended the day at 22,769.5 levels, up 0.36 percent. The SmallCap counterpart, on the other hand, closed 0.9 percent higher at 24,827 levels after hitting a new peak of 24,868 earlier today. Read more

Websites globally hit by major internet outage

Tuesday, June 8, 2021
Multiple websites operated by news outlets including the Financial Times, CNN, and Bloomberg News were down across the globe on Tuesday with some reports pointing to a glitch at U.S.-based cloud computing services provider Fastly. Quora, Shopify, and Vimeo were some of the other websites facing the outage. Major websites facing outage are returning nearly 503 errors, as per the report, with Fastly appearing in some of them. According to an Engadget report, while some websites are returning 503 errors, only images are affected on sites such as Twitter and Amazon. Nearly 21,000 Reddit users reported issues with the social media platform, while more than 2,000 users reported problems with Amazon, according to Downdetector.com. In India, it has impacted services in Chennai, Mumbai, and New Delhi. Read more

BSE Power index hits over 10-year high; profit booking advised by Analysts

Tuesday, June 8, 2021
Shares of power generation and distribution companies have rewarded investors handsomely over the past two months with returns of Reliance Infrastructure, JSW Energy, Adani Power, Power Grid Corporation, NTPC, Tata Power, and Torrent Power ranging between 8 percent and over 90 percent. In comparison, the frontline Sensex index has advanced around 6 percent while the BSE Power Index added 17 percent during the period, ACE Equity data show. On Tuesday, the S&P BSE Power index hit a 10-year high of 3,008, a level last seen in January 2011, in intra-day trade. Among individual stocks, Adani Power hit a record high of Rs 151, soaring 19 percent in intra-day trade on Tuesday, on the back of heavy volumes while Torrent Power and Tata Power gained over 4 percent each on the BSE. In comparison, the benchmark S&P BSE Sensex was down 0.17 percent. Read more

Zomato IPO: Growth versus profitability debate is on

Tuesday, June 8, 2021
Ahead of Zomato's initial public offering (IPO) planned later this year the growth versus profitability debate is heating up. According to analysts at Jefferies, while one set of investors are looking at Zomatos’ growth metrics even at the cost of medium-term profitability, the other camp is looking for a clear path to profitability going ahead. Potential competition from Amazon, Thrive, etc. is also on investors' minds and so is the dynamics between Zomato and Swiggy, they said. A few investors are concerned that Swiggy, given its unlisted status, may have less investor pressure on profitability versus Zomato, which will have public market shareholders,” note the experts. Read more

Closing Bell: Sensex down 53 points, Nifty at 15740.10

Tuesday, June 8, 2021
At Close, Sensex closed 53 points, or 0.10 percent, lower at 52,275.57 while the Nifty settled with a nominal loss of 12 points, or 0.07 percent, 15,740.10. Tata Motors, Tech M, Bharti Airtel, Indian Oil Corporation, HCL Tech, and Infosys were the top gainers on the indices. Hindalco, Tata Steel, JSW Steel, Kotak Bank, HDFC, and SBI, meanwhile, were the top laggards. Nifty metal and financial stocks remained under pressure with the Nifty Bank, PSU Bank, and Metal indices closing up to 1.4 percent lower. On the upside, the Nifty IT, FMCG, and Pharma indices gained around 1 percent each. The BSE MidCap index gained 0.36 percent, While SmallCap index closed 0.9 percent higher.

MARKET UPDATE:Sensex fell 110 points at 52,210 levels and Nifty slipped below the 15,750-mark

Tuesday, June 8, 2021
The markets in India slid in morning deals today(8th June 2021), dragged mainly by metals and banks. The S&P BSE Sensex fell 110 points at 52,210 levels and the Nifty50 index slipped below the 15,750-mark. Tech Mahindra, NTPC, Bajaj Finance, and HCL Tech rose 1 percent, each, and were the top Sensex gainers. The Nifty sectoral indices were largely in the red, with the Nifty Metal index, down 2 percent, bleeding the most. Meanwhile, the Nifty IT index was up 1 percent. The broader markets, meanwhile, outran their benchmark indexes, with the S&P BSE MidCap and SmallCap indices trading 0.5 percent and 0.6 percent higher, respectively. Forty-six companies including Engineers India, Petronet LNG, Max Financial Services, and Suven Pharmaceuticals are scheduled to release their quarterly earnings today.

Bajaj Finance shares falls 5 percent after second wave of lockdown

Monday, June 7, 2021
Shares of Bajaj Finance (BAF) declined 5 percent to Rs 5,681 apiece on the BSE in Monday's intra-day trade after the NBFC issued an update about the effect of the Covid-19 wave on the financials of the firm. The share hit 52 weeks high of Rs 6,009 on June 4, 2021, and 52 weeks low of Rs 2,199 on June 12, 2020. In its mid-quarter update, the firm said B2B and auto finance businesses were most affected due to strict lockdowns in the majority of states. The lender’s business-to-business segment has been hit hard, with most shops and establishments staying shut in May. The second segment most impacted was vehicle loans, the lender said. These businesses delivered 70% of their planned volumes in April 2021 as multiple states started imposing lockdowns from mid-April. Their volumes dropped to 40% in May 2021. Read more

Central Bank of India, IOB could be privatised in current fiscal

Monday, June 7, 2021
Two state-run banks shortlisted by the NITI Aayog-Central Bank of India and Indian Overseas Bank (IOB)-may be privatised by the Centre, according to the sources. The report further added that the Bank of India could be a potential candidate for privatisation too. NITI Aayog had submitted the names of the two state-run banks and one general insurer to the committee of secretaries on disinvestment. The announcement regarding the privatisation of these banks was made in the Union Budget of 2021-22. The proposal is being vetted by DIPAM and the department of financial services, according to the sources. The Centre has budgeted a target of Rs 1.75 lakh crore from stake sale in the current fiscal. It also aims to conclude the privatisation of Air India, BPCL, and Shipping Corporation the process for which has already started in the current fiscal.

Piramal Group's resolution plan for DHFL approved by NCLT

Monday, June 7, 2021
The Piramal Group’s resolution plan for Dewan Housing Finance Limited (DHFL) has been approved by the Mumbai bench of the National Company Law Tribunal (NCLT). The order is subject to the outcome of the appeal in the appellate tribunal and the Supreme Court. Piramal’s plan offers to pay Rs 37,250 crore, with upfront cash of Rs 12,700 crore; it has already been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI). "We are pleased with the judgment today by the Honorable NCLT for approving our resolution plan for DHFL. This follows the endorsement of 94% of lenders, and the subsequent approvals from RBI and CCI, and reiterates the strength and quality of our bid", the Piramal Group said in a statement. Read more

Closing Bell:Sensex gains 228 points, Nifty at 15751.65

Monday, June 7, 2021
At Close, Sensex was up 228.46 points or 0.44% at 52328.51, and the Nifty was up 81.40 points or 0.52% at 15751.70 supported by the IT, infra, and energy names. Power Grid was the top Sensex gainer, followed by NTPC, Ultratech Cement, and Reliance Industries. Top losers were Bajaj Finance, Bajaj Finserv, HDFC, JSW Steel, and Divis Labs. About 2284 shares have advanced, 961 shares declined, and 156 shares are unchanged. The Nifty IT, Media, and Private Bank indices ended the session as top gainers, up around 1 percent each, while the Nifty Metal index was the top loser, down 0.5 percent. The BSE MidCap index hit a fresh record peak of 22,739 in intra-day trade but closed at 22,690 levels, up 0.8 percent. The BSE SmallCap index, on the other hand, ended hit a record peak of 24,618 earlier today and ended at 24,609 levels, up 1.4 percent.

MARKET UPDATE:Sensex hovered around 52,160 levels and Nifty near the 15,700-mark

Monday, June 7, 2021
The markets in India fluctuated between gains and losses in early deals today(7th June 2021), amid positive global cues. The S&P BSE Sensex hovered around 52,160 levels and the Nifty50 index near the 15,700-mark. Bajaj Finance fell over 3 per cent and was the top Sensex laggard, followed by Bajaj Finserv (down 2%). On the other hand, ONGC ticked up over 1 per cent. All the Nifty sectoral indices, except Nifty Financial Services, were painted green, led by Nifty PSU Bank index, up 1 per cent. Thirty-one companies which includ Union Bank of India, Central Bank of India, Mrs Bectors Food Specialities, Jubilant Ingrevia and MRF are slated to post their quarterly numbers today.

RBI keeps growth revival top priority;maintained status quo on interest rates

Friday, June 4, 2021
The monetary policy committee of RBI maintained the status quo on interest rates for the sixth consecutive review meeting today(4th June 2021), indicating that reviving economic growth was top on its agenda as it decided to look through inflation pressure which is resurfacing in the economy due to a variety of factors including hardening of crude oil prices. “The MPC also decided unanimously to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward,” said RBI governor Shaktikanta Das in Mumbai while announcing the policy review decision. Read more

50 listed companies 'missing' after raising money

Friday, June 4, 2021
Fifty listed companies are not to be found on their registered address and had been suspended for violations for more than six months. The stock exchange has also been unable to contact them through other means. The BSE had reached out to them with show-cause notices in December 2020.The latest notice dated May 26 gave the companies 15 days to respond. A number of companies raised money from investors in the 1990s and then were untraceable. These came to be known as ‘vanishing companies’. “We have given the notice to non-compliant companies seeking compliance. Where the company does not respond, further steps as mentioned above will be taken. Declaring a company as a ‘vanishing company’ is done by the Ministry of Corporate Affairs as per their criteria,” said an exchange official. Read more

Closing Bell:Sensex down 132 points, Nifty at 15670.25

Friday, June 4, 2021
At close, the Sensex was down 132.38 points or 0.25% at 52,100.05, and the Nifty was down 20.10 points or 0.13% at 15,670.30 after the Reserve Bank of India maintained the status quo and keep its stance accommodative.ONGC, L&T, Tech Mahindra, Mahindra & Mahindra, Power Grid Corporation of India, Bharti Airtel, UltraTech Cement were among the top Sensex gainers. Nestle India, SBI, ICICI Bank, HDFC Bank, HUL, Axis Bank, and Titan were major losers in the Sensex pack. About 1832 shares have advanced, 1279 shares declined, and 138 shares are unchanged. The Nifty Bank index ended 1 percent lower, followed by the Nifty Private Bank and FMCG indices, down 0.8 percent and 0.4 percent, respectively. On the upside, the Nifty Metal and Realty indices clocked gains up to 1.6 percent. The BSE MidCap index advanced 0.63 percent while the BSE SmallCap index added 0.78 percent.

MARKET UPDATE:Sensex up 120 points and hovered around 52,350 levels; Nifty topped the 15,700-mark

Friday, June 4, 2021
The markets in India ticked up in morning deals today(4th June 2021) after the Reserve Bank of India (RBI) maintained the status quo and left the repo rate unchanged at 4 percent, with an accommodative stance. The S&P BSE Sensex hovered around 52,350 levels, up 120 points, and the Nifty50 index topped the 15,700-mark. ONGC gained 2 percent and was the top Sensex gainer, followed by Larsen & Toubro and Mahindra & Mahindra (both up 1%).

20 stocks could get upgrades with seven of them moving from midcap space to largecap, and 13 from smallcap space to midcap

Thursday, June 3, 2021
Due to strong interest in cyclical and digital stocks in the last one year, names from these segments will dominate the upgrades when the Association of Mutual Fund in India (Amfi) updates its biennial size reclassification list in early July. Assuming that prices will not deviate a lot from current levels during June, overall 20 stocks could potentially get upgrades with seven of them moving from midcap space to largecap, and 13 from smallcap space to midcap, said ICICI Securities NSE 5.47 %. Of the above 20 stocks, 14 belong to cyclical (industrials and lenders), while five belong to the digit domain (platform, e-commerce or niche digital technology), and one to defensive (healthcare). Read more

RBI's Monetary Policy Committee expected to hold rates and continue with an accommodative stance to encourage growth

Thursday, June 3, 2021
The RBI is expected tomorrow(4th June 2021) to hold interest rates after a three-day meeting of its Monetary Policy Committee (MPC). The policy will likely maintain an accommodative stance, as helping economic growth remains a priority. Here are key decisions to look at from the review meeting: The market will look out for RBI’s GDP growth forecast for the financial year. In the last policy review meeting of April, GDP growth for the current financial year was projected at 10.5%. For the first quarter, it was projected at 26.2%. The prediction was before the second wave of the coronavirus pandemic that has hurt economic activity due to lockdowns by state governments. Most economists and rating agencies have trimmed their forecasts following the second wave. Many see GDP growth for FY22 in single-digit now, as compared to double-digit predictions made before the second wave. Read more

Titan jumps 7 percent and hits record high

Thursday, June 3, 2021
Shares of Titan Company gained 7 percent after hitting a record high of Rs 1702 on the BSE in intra-day trade on Thursday amid the expectation of a strong recovery, due to pent-up demand and market share gains. Rakesh Jhunjhunwala’s favorite stock surpassed its previous high of Rs 1,620.95, touched on January 6 this year, and was the top Sensex gainer on Thursday. Titan Company’s market capitalization now stands close to Rs 1.5 lakh crore. Analysts believe that this stock may rally 7 percent more from current levels to Rs 1,800 in the next few days. Rising gold prices are also seen as a positive factor for Titan shares as consumers buy jewelry in anticipation that gold prices may continue to rise in the days to come. On April 29, Titan reported robust sales growth of 61 percent year-on-year (YoY) in the January-March quarter (Q4FY21) but the operating performance was below Street estimates on lower Ebitda margins due to a steep fall in gross margin.

Closing Bell: Sensex gains 350 points, Nifty at 15690.35

Thursday, June 3, 2021
At close, the Sensex is up 382.95 points or 0.74% at 52232.43, and the Nifty up 114.20 points or 0.73% at 15690.40 amid buying seen in the infra, oil & gas, metal, and realty names. Titan Company, Reliance Industries Ltd (RIL), ONGC, Power Grid Corporation of India, Kotak Mahindra Bank, Axis Bank, Infosys were among the top Sensex gainers. Bajaj-Auto, Tech Mahindra, Nestle Industries, SBI, Dr. Reddy’s Lab, Sun Pharma were among the top index losers. About 2136 shares have advanced, 973 shares declined, and 134 shares are unchanged. The Nifty Auto and Pharma stocks declined 0.08 percent and 0.23 percent, respectively. On the upside, the Nifty Realty index jumped 4 percent. The BSE MidCap and SamllCap indices ended 1 percent higher each after hitting a record peak of 22,395 and 24,138 levels, respectively.

MARKET UPDATE:Sensex gained 320 points at 52,170 levels, and Nifty topped the 15,650-mark

Thursday, June 3, 2021
The markets in India edged higher in early deals today(3rd June 2021), up half a percent, tracking similar cues from other Asian markets. The S&P BSE Sensex gained 320 points at 52,170 levels, and the Nifty50 index topped the 15,650-mark. Titan rose 4 percent and was the top Sensex gainer, followed by Reliance Industries (up 2%). The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 1 percent. In the broader markets, the S&P BSE MidCap and SmallCap indexes ruled 0.7 percent and 0.9 percent higher, respectively. Twenty-nine companies, including GSPL, Arvind Fashions, and APL Apollo Tubes, are slated to announce their quarterly results today.

Closing Bell: Sensex down 85 points, Nifty at 51849.48

Wednesday, June 2, 2021
At close, the Sensex was down 85.40 points or 0.16% at 51849.48, and the Nifty was up 1.30 points or 0.01% at 15576.20. ,ITC ,Asian Paints, HDFC, Axis Bank, Tech M, HCL Tech, and TCS leading the list of losers. IndusInd Bank, Reliance Industries, SBI, Power Grid, Bajaj Auto, and Maruti Suzuki were the top Sensex gainers. About 2101 shares have advanced, 951 shares declined, and 160 shares are unchanged. The Nifty PSU Bank index zoomed nearly 3 per cent on the NSE, the Nifty Metal and Pharma indices gained 2 per cent each.On the downside, the Nifty IT and FMCG indices slipped 0.77 per cent and 0.5 per cent, respectively.The BSE MidCap index, that hit a record peak of 22,164 earlier today, closed 1.7 per cent higher at 22,141 levels. The BSE SmallCap index, on the other hand, gained 1.35 per cent to close at 23,841 levels after hitting a new peak of 23,842 levels in intra-day trade.

Fag-end buying in Reliance Industries, auto, and metal counters helped Indian benchmark indices erase most of the day's losses

Wednesday, June 2, 2021
Fag-end buying in Reliance Industries, auto, and metal counters helped Indian benchmark indices erase most of the day's losses and helped them end nearly flat for the second straight day. Moreover, a surge in Brent Crude price, which was hovering around $71 per barrel, exerted pressure on the bourses. The frontline S&P BSE Sensex ended at 51,849 levels, down 85 points or 0.16 percent, with ITC (down 3 percent), Asian Paints, HDFC, Axis Bank, Tech M, HCL Tech, and TCS leading the list of losers. This was countered by gains in IndusInd Bank, Reliance Industries, SBI, Power Grid, Bajaj Auto, and Maruti Suzuki, which rallied up to 2 percent. On the NSE, the Nifty50 index settled at 15,576 levels, up 1 point. Both the indices hit their respective lows of 51,450 and 15,460 earlier in the day. The BSE MidCap index, which hit a record peak of 22,164 earlier today, closed 1.7 percent higher at 22,141 levels. Read more

Fundamentals of PNB Housing need to catch up with the stock now: Analysts

Wednesday, June 2, 2021
Shares of PNB Housing Finance (PNB HF) have soared a massive 58 percent in three days on the bourses after the housing financier announced equity infusion worth Rs 4,000 crore, led by Carlyle Group, removing a key overhang on the company’s growth outlook. The fact that the capital raising plan was nearly double what was expected (Rs 1,800 crore) has helped the counter jump a massive 279 percent from its 52-week low level of Rs 183, hit on June 2, 2020. It is difficult to predict Whether PNB HF will deliver on the growth projections that don’t look promising - at least till the financial year 2022-23 - 2023-24 (FY23-FY24). Read more

MARKET UPDATE:Sensex down by 320 points at 51,600 levels and Nifty traded around the 15,550-mark

Wednesday, June 2, 2021
The benchmark indices in India slid over half a percent in early deals (today 2nd June 2021), amid mixed global cues. The S&P BSE Sensex fell 320 points, or 0.64 percent, at 51,600 levels and the Nifty50 index traded around the 15,550-mark. Tech Mahindra and ITC fell 2 percent, each, and were the top Sensex laggards. The Nifty sectoral indices were mixed, with the Nifty Metal index, up 1 percent, leading the gainers. The broader markets, meanwhile, outran their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.7 percent and 0.6 percent higher, respectively. Twenty-three companies, including Motherson Sumi Systems, MTAR Technologies, Muthoot Finance, and PVR are scheduled to release their quarterly earnings today.

Narayana Hrudayalaya rallies 16% on strong March quarter results

Tuesday, June 1, 2021
Shares of Narayana Hrudayalaya rallied 16 percent to Rs 507.60 on the BSE in intra-day trade on Tuesday after posting strong results a Six-time jump in the quarter ended on March 31, 2021.on the back of healthy operational performance. The company, a leading healthcare service provider in India, had recorded a profit of Rs 12 crore in Q4FY20. The hospital chain reported a 469 percent surge in consolidated profit at Rs 68.05 crore in Q4FY21 against Rs 11.99 crore in the same quarter of the previous year. The revenue of the company jumped to Rs 837.76 crore from Rs 742.95 crore during the period under review. Narayana Hrudayalaya reported a decent growth of 12.76 percent in consolidated revenues at Rs 837.76 crore in the March 2021 quarter, compared to Rs 749.9 crore in the same quarter of the previous year. On a sequential basis, the total revenue was up by 11.65 percent compared to revenue in the December 2020 quarter at Rs 750.36 crore. Read more

V-shaped economic recovery of 2020 won’t be repeated after this year’s Covid-19 carnage

Tuesday, June 1, 2021
The V-shaped economic recovery in 2020 won’t be repeated after this year’s Covid-19 carnage according to some analysts. Government statistics released 0n 31st May showed 1.6% growth in GDP from a year earlier in the March quarter, before a deadly second wave of infections. But this expansion, an improvement over the 0.5% rate in the previous three months, is a statistical artifact. A better metric is seasonally adjusted quarter-on-quarter growth, which Capital Economics calculates at 0.7%, a sharp slowdown from 9.5% in the December quarter. During the current surge in cases, there have been only local restrictions on physical activity. That’s making some analysts optimistic about the resumption of growth that will inevitably occur when the coronavirus fully recedes. Yet there are several crucial differences from last year that could make it harder for India to bounce back. Read more

Investment activity hits historic low in FY21 due to pandemic

Tuesday, June 1, 2021
In the fourth quarter of the financial year, 2020-21 (Q4FY21) investment activity revived to a seven-quarter high and demand recovered to a five-quarter high but this may not sustain because of the impact of the second wave of Covid-19 on rural demand and corporate spending, feel economists. The better-than-expected economic growth in Q4 was largely led by a spike in government spending and double-digit growth in investment activity, owing to a low base. However, for the whole of FY21, growth in investment and consumption touched a historic low as the country grappled with the impact of the nationwide lockdown in Q1. Read more

Closing Bell:Sensex ends flat, Nifty at 15574.85

Tuesday, June 1, 2021
At close, the Sensex was down 2.56 points at 51934.88, and the Nifty was down 7.90 points or 0.05% at 15574.90 as investors preferred to book profits after seven straight sessions of gains. ONGC, Bajaj Finance, State Bank of India (SBI), Housing Development Finance Corporation (HDFC), HUL, Tech Mahindra stocks were the top gainers in the Sensex pack. On the flip side, ICICI Bank, UltraTech Cement, Asian Paints, ITC were among the top index laggards. About 1303 shares have advanced, 1782 shares declined, and 119 shares are unchanged. Barring the Nifty Media, Pharma, and IT indices, all other indices settled the day in the red. The Nifty Private Bank index was the top loser, down 1 percent, while the Nifty IT index gained 0.11 percent. The S&P BSE MidCap closed 0.01 percent higher while the SmallCap index slipped 0.3 percent.

MARKET UPDATE:Sensex traded around 51,970, up 30 points and Nifty fell below the 15,600-mark

Tuesday, June 1, 2021
The markets in India traded flat in morning deals today's(1st June 2021) volatile session, with gains in auto stocks being offset by losses in metals. The S&P BSE Sensex traded around 51,970, up 30 points and the broader Nifty50 index fell below the 15,600-mark. Bajaj Auto (up 2%) was the top Sensex gainer, followed by HDFC, Bajaj Finance, IndusInd Bank, and State Bank of India (all up 1%). The Nifty sectoral indices were mixed, with the Nifty Auto index, up over 1 percent. leading the gainers. Seventeen companies, including ITC, Balrampur Chini Mills, Gujarat Gas, and Radico Khaitan are scheduled to release quarterly earnings today. Analysts expect ITC to post high single-digit revenue growth on a yearly basis during the quarter under review, although the profit after tax (PAT) is expected to fall.

Sensex gained 6.5 per cent or 3,154 points;sharpest May-month rally in seven years

Monday, May 31, 2021
The S&P BSE Sensex posted its biggest May month rally in the past seven years. If analysts are to be believed, there is still more room for an upside, albeit amid minor corrections on the way. The optimism is despite the second wave of the Covid pandemic that brought the Indian economy to a near standstill yet again in 2021. This time, however, analysts believe the impact to be less severe as compared to 2020. “The risk-reward is still favorable for equities given the US Fed intervention to control yields. Any sell-off could offer a good buying opportunity as the medium-term outlook is solid. Our cyclical bias continues with a preference for mid-caps over large-caps,” say experts. Read more

PNB Housing Finance to raise Rs 4,000 cr from entities affiliated to Carlyle

Monday, May 31, 2021
Shares of PNB Housing Finance were locked in the upper circuit of 20 percent at Rs 525.20, hitting 52 weeks high on the BSE on Monday, after the company board approved a capital raise of up to Rs 4,000 crore, led by entities affiliated to the Carlyle Group Inc. Pluto Investments S.a.r.l., an affiliated entity of Carlyle Asia Partners IV, L.P. and Carlyle Asia Partners V, L.P. had agreed to invest up to Rs 3,185 crore through a preferential allotment of equity shares and warrants at a price of Rs 390 a share, the company said in an exchange filing. The Carlyle Group Inc has made an open offer for the acquisition of up to 70.79 million shares of PNB Housing Finance, representing 26 percent of the expanded voting share capital, at a price of Rs 403.22 per share from the shareholders of the company."Existing shareholders of the company, funds managed by Ares SSG and General Atlantic, are also participating in the capital raise. PNB will continue to be the promoter Read more

Indian economy is on track to grow 10% in the year that began April 1st

Monday, May 31, 2021
The resilience of the Indian economy will be tested by its ability to overcome a devastating outbreak of Covid-19, although no one is yet doubting its potential to pull off the world’s fastest pace of growth among major economies this year. The economy is on track to grow 10% in the year that began April 1, according to the median of 12 estimates compiled by Bloomberg News. That’s after several economists downgraded their forecasts in recent weeks to factor in local curbs on activity, including in India’s political and commercial hubs. Economists say the relaxation of restrictions across states will determine the strength of the rebound, while the willingness of consumers to spend will also be key. Data likely to be released today(31st May 2021) will probably show gross domestic product grew 1% in the three months ended March, making it the second straight quarter of expansion since India exited a rare recession. Read more

Closing Bell: Sensex gains 514 points, Nifty at 15582.80

Monday, May 31, 2021
At close, the Sensex was up 514.56 points or 1% at 51937.44, and the Nifty was up 147.10 points or 0.95% at 15582.80. Reliance Industries Ltd (RIL) and ICICI Bank were the top Sensex gainers, followed by Bharti Airtel, ITC, Dr. Reddy’s Lab, Maruti Suzuki India, NTPC, UltraTech Cement, Asian Paints. On the flip side, Mahindra & Mahindra (M&M), Infosys, IndusInd Bank, L&T, Sun Pharma, Tech Mahindra were among index laggards. About 1717 shares have advanced, 1449 shares declined, and 187 shares are unchanged. The Nifty sectoral indices were mixed, with Nifty PSU bank index down 0.7 percent. While Nifty Metal index jumped over 2 percent and the Nifty Bank index was up 1.10 percent. The BSE Energy index advanced 2.5 percent, followed by the BSE Telecom and Metal indices up 1.5 percent each, and the BSE Oil and Gas index up 1.3 percent. The S&P BSE MidCap and SmallCap indices added 0.45 percent and 0.5 percent, respectively amid buying in construction material, telecom, energy, and metal

MARKET UPDATE:Fluctuating market;Sensex traded around 51,440 levels and Nifty traded below the 15,450-mark

Monday, May 31, 2021
The benchmark indices in India fluctuated between gains and losses in early deals today(31st May 2021), amid weak cues from other Asian markets. Among the headline indices, the S&P BSE Sensex traded around 51,440 levels. The index slid to as low as 51,180 in intra-day deals. The broader Nifty50 index, meanwhile, traded below the 15,450-mark. Mahindra & Mahindra fell 6 percent and was the top Sensex laggard. On the other hand, ITC rose 2 percent. The Nifty sectoral indices were mixed, with the Nifty Auto index, down 1 percent, being the top laggard. In the broader markets, the S&P BSE MidCap index was flat while the SmallCap index rose 0.36 percent. Seventy-nine companies slated to post their quarterly numbers today which include Aurobindo Pharma, Chemical Speciality Chemicals, Astron Paper & Board Mill, Jamna Auto Industries, and Uttam Galva Steels.

Bank of Baroda reports net loss of Rs 1,046 cr in Q4

Saturday, May 29, 2021
Bank of Baroda (BoB) reported a standalone net loss of Rs 1,046 crore for the March quarter (Q4FY21). It had posted a profit of Rs 506.6 crore in the same period last year (Q4FY20). BoB's net interest income (NII)-the difference between interest earned and interest expended increased 4.5 percent to Rs 7,107 crore for the fourth quarter as compared to Rs 6,798.2 crore in the year-earlier period. On a consolidated basis, the net loss of the lender stood at Rs 740 crore for the quarter. The Bank’s gross non-performing assets (NPAs) rose sequentially to 8.87 percent in Q4FY21. In Q3FY21, gross NPAs of the bank were at 8.48 percent. Meanwhile, net NPAs stood at 3.09 percent. The Bank has stopped short of declaring any dividend for the financial year 2020-21. Read more

Lockdown to be lifted gradually in Delhi from Monday

Friday, May 28, 2021
Chief Minister Arvind Kejriwal today(28th May 2021 said Delhi has somehow gained control over the second wave of COVID-19 and the government will now start the process of lifting the lockdown gradually, starting with the resumption of construction activities and reopening of factories for one week from Monday. This doesn't mean the fight against the deadly disease has ended, he stressed. "It is time to start the unlock process. It should not be the case that people escape coronavirus but die of hunger... We have to maintain a balance between controlling the spread of coronavirus and allowing economic activities," Kejriwal said during an online press briefing. "At a meeting of the Delhi Disaster Management Authority (DDMA) today, it was decided that the lockdown be lifted gradually.

Sensex may hit 53,000 soon. Markets in bubble zone?

Friday, May 28, 2021
Today the benchmark Nifty50 index achieved another milestone when it scaled a fresh record peak of 15,455.5. The feat comes just a day after the Reserve Bank of India issued caution over the meteoric rise in stock prices amid a ravaging Covid-19 pandemic. India's benchmark indices have more than doubled from the post-pandemic lows made in March 2020 while several individual companies have seen multi-fold jump in their stock prices. In May alone, nearly a dozen Nifty50 stocks have hit a lifetime high. These include State Bank of India, Wipro, Bajaj Finserv, Tata Steel, and JSW Steel. IT companies dominate the list of stocks that hit lifetime highs this year, followed by banks and financial services. "This order of asset price inflation in the context of the estimated 8 percent contraction in GDP in 2020-21 poses the risk of a bubble," the RBI said in its annual report yesterday. Read more

Bajaj Health care gains 10 percent on receiving nod for launching black fungus drug

Friday, May 28, 2021
The share price of Bajaj Healthcare rallied 10 percent to hit a 52-week high of Rs 700 on Friday after the company received approval to launch a drug Posaconazole API to treat black fungus infection in COVID-19 patients.The company has received approval from FDA (Food and Drugs Administration) Gandhi Nagar, Gujarat (India), to manufacture and market Posaconazole API as approved medication for treating Mucormycosis in India, Bajaj Healthcare said in a regulatory filing.Bajaj Healthcare said it will commence its commercial production from the first week of June 2021.Posaconazole is a triazole antifungal agent indicated for treating Mucormycosis patients. More than 11,000 cases of black fungal infection have been reported from different parts, forcing state governments to declare it an epidemic. Read more

Closing Bell: Sensex gains 307.66 points, Nifty ends at record closing at 15435.65

Friday, May 28, 2021
At close, the Sensex was up 307.66 points or 0.60% at 51422.88, and the Nifty was up 97.80 points or 0.64% at 15435.70. ONGC, Housing Development Finance Corporation (HDFC). Reliance Industries Ltd (RIL), Titan Company, State Bank of India (SBI) were among the top Sensex gainers. Stocks of Sun Pharma, Dr. Reddy’s Lab, M&M, Nestle India, Bajaj-Auto among others were top index laggards. About 1394 shares have advanced, 1674 shares declined, and 138 shares are unchanged. Nifty Bank index gained nearly one percent, while the Nifty Metal index was the top gainer, up 2.53 percent.On the contrary, the Nifty Pharma index slipped 1.2 percent on the NSE. The BSE Midcap index fell 0.12 percent and the BSE SmallCap index dropped 0.48 percent.

MARKET UPDATE:Sensex up 330 points at 51,440 levels and the Nifty testing the 15,450-mark

Friday, May 28, 2021
The markets in India made a firm start to the June F&O series, with the benchmark indices trading over half a percent higher in morning deals today(28th May 2021) and the Nifty50 index scaling a fresh lifetime high. The S&P BSE Sensex traded 330 points, or 0.65 percent, higher at 51,440 levels and the Nifty50 index was testing the 15,450-mark after earlier surpassing the earlier record high of 15,431.75. ONGC, HDFC, HDFC Bank, and Reliance Industries rose 1 percent, each, and were the top Sensex gainers. In the broader markets, the S&P BSE MidCap and SmallCap indexes traded 0.27 percent and 0.44 percent higher, respectively. Ninty-six companies, including Mahindra & Mahindra, Glenmark Pharmaceuticals, Indian Bank, Ipca Laboratories, Aditya Birla Fashion and Retail, Dilip Buildcon, and Nazara Technologies, are scheduled to release quarterly earnings today.

SEBI considering institutional investor-only IPOs to shield small investors from presumably risky issues

Thursday, May 27, 2021
SEBI is considering the concept of institutional investor-only initial public offerings (IPOs) to shield small investors from presumably risky issues by new-age technology and e-commerce firms. Regulatory and investment banking sources said the regulator is deliberating whether more steps are required to safeguard investors before it allows loss-making companies, such as food delivery company Zomato, to tap the public market. Banning direct retail participation and mandatory “safety net” are some of the concepts being discussed, according to the sources. Domestic IPOs, typically, have two broad equal quotas for institutional and non-institutional investors. The non-institutional portion is further split 70:30 between retail (those investing up to Rs 2 lakh) and high net-worth individuals (those investing more than Rs 2 lakh). Read more

Closing Bell:Sensex gains 98 points, Nifty at 15337.85

Thursday, May 27, 2021
At Close Sensex was up 97.70 points or 0.19% at 51115.22, and the Nifty was up 36.40 points or 0.24% at 15337.90 led by IT, financials. State Bank of India (SBI), Kotak Mahindra Bank, Axis Bank, Bajaj-Auto, Tech Mahindra, TCS were among the top Sensex gainers. On the contrary, Housing Development Finance Corporation (HDFC), Bajaj Finance, ONGC, Bharti Airtel, and HUL were among the top index laggards. About 1657 shares have advanced, 1314 shares declined, and 121 shares are unchanged. Nifty Realty index was the top sectoral loser, down 1.19 percent, followed by the Nifty Pharma index and Nifty FMCG index. Nifty PSU Bank index surged nearly 3 percent while Nifty Bank index was up 1.18 percent and metal Index up 1 percent. The S&P BSE MidCap index added 0.54 percent while the SmallCap counter gained 0.34 percent.

Rally in domestic stocks despite contraction in FY21 GDP poses the risk of a bubble:RBI

Thursday, May 27, 2021
The rally in domestic stocks despite an estimated 8 percent contraction in FY21 GDP poses the risk of a bubble, according to a RBI study. RBI in a study “Is the Bubble in Stock Markets Rational?”, said the widening gap between stretched asset prices relative to prospects for recovery in real economic activity has emerged as a global policy concern while suggesting the need to consider a calibrated unwinding of stimulus once the pandemic waves are flattened and the real economy is firmly on a recovery path. The BSE Sensex hit a record high of 52,154 on February 15, which represented a 100.70 percent surge over March 23, 2020 levels. The index is hovering at 51,000-odd levels in Thursday's trade. “This order of asset price inflation in the context of the estimated 8 percent contraction in GDP in 2020-21 poses the risk of a bubble," it said. Read more

MARKET UPDATE:Sensex hovered around 51,000 and Nifty gave up the 15,300 level

Thursday, May 27, 2021
The markets in India traded little differently from yesterday's closing in early deals today(27th May 2021), ahead of the May series F&O expiry later in the day. The S&P BSE Sensex hovered around 51,000,the psychological level that the benchmark index reclaimed in the previous session. The broader Nifty50 index, meanwhile, gave up the 15,300 level. Tech Mahindra gained 1 percent and was the top Sensex gainers, followed by TCS (up 0.8 percent). On the other hand, Asian Paints, Bajaj Finserv, and IndusInd Bank fell 1 percent, each. The Nifty sectoral indices were mixed, with the nifty IT index, up 1.6 percent, leading the gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices tracked their benchmark peers and also traded flat. Read more

Banks and NBFCs with more than Rs 1,000-crore asset base must bring in new auditors:RBI

Wednesday, May 26, 2021
RBI in its April 27th norms on auditors had said banks and NBFCs, excluding those that don’t take deposits and have a sub-Rs 1,000-crore asset base, must immediately bring in new auditors. The para banks, however, were allowed to do the change from the second half of the fiscal year. Banks and NBFCs, having an asset size of Rs 15,000 crore or more, were asked to appoint joint auditors. Crucially, there was retrospective applicability of the extended eligibility criteria for auditors, including those relating to the provision of audit and non-audit services. Both the NBFC lobby group Finance Industry Development Council and the Confederation of Indian Industry protested the rules. However, the RBI argued that the guidelines are compulsorily applicable to only 300 NBFCs, of the 9,600 operational in India. The other NBFCs, with asset sizes below Rs 1,000 crore, have the option to continue with their existing auditors. Read more

WhatsApp challenges the Indian government's new IT rules in the Delhi High Court

Wednesday, May 26, 2021
WhatsApp yesterday(25th May 2021) filed a legal challenge against the Indian government, protesting before the Delhi High Court's new IT rules that would require messaging services to trace the origin of particular messages. “Requiring messaging apps to “trace” chats is the equivalent of asking us to keep a fingerprint of every single message sent on WhatsApp, which would break end-to-end encryption and fundamentally undermines people’s right to privacy," said a WhatsApp spokesperson. "We have consistently joined civil society and experts around the world in opposing requirements that would violate the privacy of our users. In the meantime, we will also continue to engage with the Government of India on practical solutions aimed at keeping people safe, including responding to valid legal requests for the information available to us,” said the spokesperson. Read more

Closing Bell: Sensex gains 380 points, Nifty at 15301.45

Wednesday, May 26, 2021
At close, the Sensex was up 379.99 points or 0.75% at 51,017.52, and the Nifty was up 93.00 points or 0.61% at 15,301.50 as recoveries from Covid-19 infection continued to surpass new cases in India. Bajaj Finserv, Infosys, Bajaj Finance, and Mahindra & Mahindra were the top index gainers. While PowerGrid, JSW Steel, Hindalco, NTPC, Tata Steel, and Coal India were the top laggards. About 1913 shares have advanced, 1146 shares declined, and 140 shares are unchanged. The Nifty Metal index declined 2 percent, the Nifty PSU Bank index declined up to 0.5 percent. On the upside, the Nifty Realty added 3 percent and the Nifty IT index 2 percent. The S&P BSE MidCap index slipped 0.14 percent compared with the S&P BSE SmallCap index, which was up 0.69 percent. India VIX soars 11%.

MARKET UPDATE:Sensex hovered around 50,680 levels, up 40 points and Nifty holding above the 15,250-mark

Wednesday, May 26, 2021
The Indian benchmark indices traded flat with a positive bias in early deals today(26th May 2021) on the back of mixed global cues. The S&P BSE Sensex hovered around 50,680 levels, up 40 points and the Nifty50 was holding above the 15,250-mark. All the Nifty sectoral indices, except Nifty Metal index (down 1.5 per cent), traded in the green. Fifty-two companies including Berger Paints, BPCL, Burger King India, and Pfizer are slated to report their March quarter results today.

Range-bound trade ended flat as indecision weighed on investors' mind

Tuesday, May 25, 2021
Today(25th May 2021)trade ended flat as indecision weighed on investors' minds. Tracking solid global cues, the domestic equity indices opened gap-up with the frontline S&P BSE Sensex and NSE's Nifty50 indices extending their gains to surge as high as 50,961 and 15,294 levels, respectively in the intra-day deals. However, profit-booking at higher levels and selling in financial counters put a lid on gains. During the day, the BSE barometer of 30 shares gyrated within a band of 490 points and eventually settled 14 points lower from previous day's closing at 50,637.5 levels. On the NSE, the Nifty50 defended the psychological level of 15,200 and shut shop at 15,208, up 11 points. Read more

Barbeque Nation zooms 20% on net profit in Jan-Mar quarter of FY21

Tuesday, May 25, 2021
Shares of casual dining, Barbeque Nation Hospitality were locked in 20 percent upper circuit at Rs 767.50 on the BSE on Tuesday after the company posted revenues of Rs 226 crore in the Jan-Mar quarter of FY21, a growth of 18.5 percent on-year. It stood at Rs 190 crore in the same quarter last year. The company’s operating profit or EBITDA stood at Rs 56 crore in the March quarter, The company had posted Rs 24.6 crore in the year-ago quarter. Total 1.39 lakh shares changed hands amounting to turnover of Rs 10.16 crore on BSE. The market cap of the firm rose to Rs 2,878 crore on BSE. Share of revenue from digital platforms increased to 24.7% from 20.1% in Q4 FY20, while the delivery business has grown 6 times in Q4 FY21 as compared to the same period last year. Read more

Barclays pegs India's FY22 GDP growth at 7.7%

Tuesday, May 25, 2021
Barclays, as measured by gross domestic product (GDP) has pegged India’s economic growth -for fiscal 2021-22 (FY22) – at 7.7 percent in the bear-case scenario, if the country is hit by the third wave of the Covid pandemic going ahead. The economic cost, it believes, could rise by at least a further $42.6 billion, assuming another round of similar stringent lockdowns is imposed across the country for eight weeks later this year. After factoring in recent developments, Barclays has pegged the economic cost of the latest shutdowns at $8 billion per week in May, up from $5.3 billion per week in the last two weeks of April, and well above the $3.5 billion a week estimated early in the second wave. “We believe these economic losses will remain steady at $8 billion a week through the month of May but expect them to ease from June,” Barclays said. Read more

Closing Bell: Sensex down 14 points, Nifty at 15208.45

Tuesday, May 25, 2021
At close, the Sensex was down 14.37 points or 0.03% at 50637.53, and the Nifty was up 10.80 points or 0.07% at 15208.50. . HDFC Bank, Axis Bank, Reliance Industries Ltd (RIL), IndusInd Bank, Housing Development Finance Corporation (HDFC), ITC and Bharti Airtel were among top index laggards. On the flip side, Asian Paints, Titan Company, Bajaj Finserv, ONGC, TCS, Infosys, Power Grid Corporation of India, and Nestle India among others were top Sensex gainers. About 1749 shares have advanced, 1307 shares declined, and 147 shares are unchanged. Nifty Bank index fell 0.81 percent, Nifty PSU Bank was down 1.34 percent and Nifty Private Bank index lost 0.90 percent. While the Nifty IT index gained one percent, the Auto index was up 0.66 percent. The S&P BSE MidCap index slipped 0.3 percent as against the S&P BSE SmallCap index that rose 0.3 per cent.

Sensex up 150 points at 50,830 levels and Nifty testing the 15,300-mark

Tuesday, May 25, 2021
The markets in India climbed off their early highs but were still trading in the green in morning deals today(25th May 2021). The S&P BSE Sensex was up 150 points at 50,830 levels, while the broader Nifty50 index was testing the 15,300-mark. ONGC, Titan, Mahindra & Mahindra, Nestle, and HDFC gained 1 percent, each, and were the top Sensex gainers. The Nifty sectoral indices were painted mixed, with the gainers led by the Nifty Metal index, up 2 percent. The broader markets outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indexes trading 0.6 percent and 0.7 percent higher, respectively. Sixty-eight companies, including Emami, VIP, Ajmera Realty & Infra India, Alkem Laboratories, and AstraZeneca Pharma India are set to announce their quarterly results today.

Banks in India report loan fraud worth Rs 5 trillion

Monday, May 24, 2021
Banks operating in India reported fraud of Rs 4.92 trillion as of March 31, 2021, which represents nearly 4.5% of the total bank credit, showed Reserve Bank of India (RBI) data, according to a reply to an RTI query. The data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021. State Bank of India – the country’s largest lender – reported the highest amount of loans as fraud - Rs 78,072 crore as of March 31, 2021. SBI is followed by Punjab National Bank (Rs 39,733 crore), Bank of India (Rs 32,224 crore), and Union Bank of India (Rs 29,572 crore). The top five banks account for 42.1% or Rs 2,06,941 crore of the total frauds classified by the banks. Read more

Natco Pharma hits 52 week on starting production of 'Black Fungus' drug

Monday, May 24, 2021
Share of Natco Pharma rose 20 per cent to hit a fresh 52-week high of Rs 1188.95 in early tradeafter the Drug Controller General of India (DCGI) gave its nod to the firm to start manufacturing antifungal drug Amphotericin B liposomal injection, which is critical in the treatment of Mucormycosis, also called 'Black Fungus'. Also the company initiated phase III clinical trial to evaluate the efficacy and safety of Molnupiravir capsules in mild COVID-19 patients in India.The first dose under the phase-III trials was given to a patient in the city-based Yashoda Hospitals, the Hyderabad-based firm said in a regulatory filing. Meanwhile the company said it has received approval from the US health regulator for the generic version of Celgene's multiple myeloma drug, Revlimid (Lenalidomide) capsules in US. Lenalidomide capsule is indicated for treatment of adults with multiple myeloma, mantle cell lymphoma and myelodysplastic syndromes. Read more

Closing Bell: Sensex gains 111 points, Nifty at 15197.70

Monday, May 24, 2021
At close, the Sensex was up 111.42 points or 0.22% at 50,651.90, and the Nifty was up 22.40 points or 0.15% at 15,197.70. SBI, Power Grid Corporation of India, HDFC Bank, L&T, Maruti Suzuki were among top Sensex gainers. Titan Company, M&M, IndusInd Bank, HUL, UltraTech Cement, Bharti Airtel were top index losers. About 1930 shares have advanced, 1218 shares declined, and 161 shares are unchanged. The Nifty PSU Bank index gained over 2 percent, followed by the Nifty Bank up 1 percent, the Nifty Realty index up 1.4 percent, and the Nifty Media index up 1 percent. On the downside, the Nifty Metal and Nifty FMGC index each fell 0.6 percent on the NSE. The MidCap and SmallCap indices scaled fresh peaks in the intra-day deals and settled around 0.8 percent higher each.

MARKET UPDATE:Volatile deals;Sensex trading around 50,580 levels and Nifty hovered around the 15,150-mark

Monday, May 24, 2021
The benchmark indices in India fluctuated between gains and losses in today's(24th May 2021) volatile early deals. The S&P BSE Sensex was trading around 50,580 levels. The broader Nifty50 index, meanwhile, hovered around the 15,150-mark. State Bank of India and PowerGrid traded 2 percent higher, each, followed by HDFC Bank, ICICI Bank, and HDFC (all up 1%). The Nifty sectoral indices were mixed, with gains in Nifty Pharma and Nifty PSU Bank indexes (both up 0.8 percent) being offset by the Nifty Metal index (down 1.5 percent). The broader markets tracked the gains in the benchmarks, with the S&P BSE MidCap and SmallCap indexes trading 0.6 percent and 0.8 percent higher, respectively. Thirty-three companies including Grasim Industries, India Cements, JK Paper, Mahanagar Gas, and Barbeque-Nation Hospitality are slated to post their quarterly results today.

Investors to stay cautious about stocks trading below the relevant moving average:Analysts

Friday, May 21, 2021
Benchmark indices were on course for yet another firm session today(21st May 2021), breaking away from their two-day losing streak, mainly due to investors looked past the global inflation concerns and hoped for a pick-up in Covid vaccination drive back home. Besides, strong March quarter results also supported the market sentiment. Earlier this week, the S&P BSE Sensex closed above the 50,000-mark for the first time since April 1. The Nifty50, on the other hand, clinched the 15,000-mark on a closing basis for the first time since March 12. The indices, however, succumbed to profit-booking and erased around 1 percent in two days. Today bulls lifted the Sensex and the Nifty over 1 percent as they touched highs of 50,275 and 15,108. Read more

SBI Q4 profit jumps to Rs 6,451 crore on lower provisioning

Friday, May 21, 2021
Shares of India’s largest public sector bank State Bank of India gained 5 percent after the bank on Friday reported an 80 per cent surge in standalone net profit of Rs 6,450.75 crore for quarter ended March 2021 (Q4FY21) aided by fewer provisions on bad loans. State Bank of India (SBI) had registered a profit of Rs 3,580.81 crore during January-March period of 2019-20, the lender said in a regulatory filing.The jump in profit was supported by net interest income and other income, while the low base in the year-ago quarter added to the jump.Total income of the bank during the March quarter of the last financial year rose to Rs 81,326.96 crore, from Rs 76,027.51 crore. The domestic net interest margin expanded 17 bps year-on-year to 3.11 percent in Q4FY21 but fell 23 bps sequentially. With regard to asset quality, gross non-performing assets (NPAs) of the bank improved at 4.98 per cent of gross advances as on March 31, 2021, as against 6.15 per cent by the same period of 2020. Read more

Closing Bell: Sensex gains 976 points, Nifty at 15175.30

Friday, May 21, 2021
At close, the Sensex was up 975.62 points or 1.97% at 50,540.48, and the Nifty was up 269.30 points or 1.81% at 15,175.30 after India's largest public sector bank, State Bank of India, reported a healthy quarterly show and also supported by a rally in other financial stocks.SBI was the top gainer on the Sensex, up 5 percent, while IndusInd Bank, HDFC Bank, ICICI Bank, Axis Bank, HDFC, and Kotak Mahindra Bank were the other top gainers. On the downside, Dr Reddy's Labs and Power Grid on the Sensex, and Eicher Motors, Indian Oil Corporation, Grasim, and SBI Life on the Nifty were the only laggards. About 1909 shares have advanced, 1140 shares declined, and 157 shares are unchanged. Financial indices -- Nifty Bank, Private Bank, PSU Bank, and Financial Services gained between 3-3.5 percent. Meanwhile, all other sectoral indices settled up to 1 percent higher. The S&P BSE MidCap and SmallCap indices gained 0.8 percent and 0.65 per cent higher, respectively.

MARKET UPDATE:Sensex gained 420 points at 49,980 levels and Nifty reclaimed the psychological level of 15,000

Friday, May 21, 2021
The markets in India rose over half a percent in morning deals today(21st May 2021), tracking firm trends in other Asian markets. The S&P BSE Sensex gained 420 points, or 0.86 percent, at 49,980 levels and the Nifty50 index reclaimed the psychological level of 15,000. IndusInd Bank and State Bank of India were up 2 percent, each. The Nifty sectoral indices were painted green, with the Nifty Bank index trading over 1 percent higher. Forty-nine companies, including State Bank of India, Hindalco Industries, JSW Steel, Shree Cement, Godrej Industries, and South Indian Bank are set to release their quarterly earnings today. Read more

ByteDance founder Zhang Yiming to step down as CEO

Thursday, May 20, 2021
Zhang Yiming, the founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo that he will step down as a chief executive and be succeeded by human resource chief Liang Rubo, the company disclosed today(20th May 2021). The move, first reported by Reuters, represents the biggest corporate shake-up at ByteDance since its launch in 2012. The company grew to become a dominant social media force in China and turned TikTok, a short-video app popular with teenagers, into a global sensation. Zhang will move to a "key strategy" position at the end of this year, ByteDance said in a statement.

BSE SmallCap index hit a new record high of 23,093

Thursday, May 20, 2021
Today (20th May 2021) the S&P BSE SmallCap index hit a new record high of 23,093 in the intra-day trade driven by its constituents that have rallied by up to 112 percent in the past one month after the respective companies reported strong earnings to show for the quarter ended March 2021 (Q4FY21). At 12:48 pm, the S&P BSE Smallcap index, the top gainer among broader indices, was up 0.59 percent as compared to a 0.16 percent rise in the S&P BSE Midcap index and a 0.03 percent decline in the benchmark index S&P BSE Sensex. In the past month, the SmallCap index has rallied 11 percent as against a 4.6 percent and a 7.6 percent gain in the MidCap and Sensex, respectively. Automotive Axles, Gayatri Projects, Shakti Pumps, Pokarna, TV Today, TCI Express, Just Dial, Walchandnagar Industries, SORIL Infra Resources, H.G. Infra Engineering, Shivam Auto, and Emami Realty rallied between 10 percent and 20 percent in the intra-day session today.

Bosch Q4 net profit jumps 5x to Rs 483 crore

Thursday, May 20, 2021
Shares of Bosch gained 9 percent to Rs 16250 after Company posted a standalone net profit of Rs 482 crore in the January-March quarter (Q4FY21), up nearly 5 times from Rs 81 crore logged in the year-ago period. Total revenue of Bosch's Mobility Solutions Business sector increased by 56.6 percent in the quarter ending on March 31, 2021. The total revenue of the Powertrain Solutions division increased by 65.6 percent. Its revenue from operations, meanwhile, came in at Rs 3,217 crore for the quarter ending March 31, 2021, an increase of 44 percent from the revenue of Rs 223,6 crore clocked in the same quarter last year. The company announced a dividend of Rs 115 per share for the financial year 2020-21. The company said it has seen a significant increase in demand from the agriculture sector, mainly tractor business. It has also seen growth in the power tools segment, especially in construction and e-commerce. Read more

Closing Bell:Sensex down 338 points, Nifty at 14906.05

Thursday, May 20, 2021
At close, the Sensex was down 337.78 points or 0.68% at 49,564.86, and the Nifty was down 124.20 points or 0.83% at 14,906. ONGC, Sun Pharma, and Power Grid were top Sensex losers. Mahindra & Mahindra, IndusInd Bank, and Titan were the top gainers. About 1614 shares have advanced, 1397 shares declined, and 161 shares are unchanged. The Nifty Bank, Financial Services, Private Bank, and FMCG indices slipped nearly 1 percent each. On the upside, the Nifty Realty index remained gainer for the second straight day and ended 1 percent higher on the NSE. The S&P BSE SmallCap index hit a record high of 0.22 percent. The S&P BSE MidCap index, meanwhile, ended 0.12 percent lower today. India VIX inched higher but closed below 20 levels.

MARKET UPDATE:Sensex gave up the psychologial level of 50,000 and Nifty holding above the 15,000-mark

Thursday, May 20, 2021
The markets in India gave up their meagre early gains and traded flat in early deals today(20th May 2021), amid mixed global cues. The S&P BSE Sensex gave up the psychological level of 50,000 while the broader Nifty50 index was holding above the 15,000-mark. Titan, Larsen & Toubro, ICICI Bank, and Infosys climbed 1 percent, each. The Nifty sectoral indices were largely in the green, barring for Nifty Metal index, which slipped 3 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices both traded flat. Thirty-two companies, including Bosch, Havells India, Zee Entertainment Enterprises, HPCL, Brookfield India Real Estate Trust REIT, and Torrent Power are scheduled to release quarterly earnings today.

More than half of BSE 500 stocks trade below their all-time highs

Wednesday, May 19, 2021
Two hundred and sixty-three stocks or more than half of stocks that comprise the BSE 500 are trading at least 10 percent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade today(19th May 2021), surpassing its previous high of 20,390 touched on March 12, 2021. The index, which accounts for 93 percent market capitalisation of BSE listed companies, has gained 8 percent from its recent low of 18,983 touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 percent during the same period but is still nearly 4.5 percent away from its all-time high level of 52,517 hits on February 16. Analysts ascribe the underperformance of bulk of BSE 500 stocks to a classic case of polarisation, where investors are lapping up stocks of sectors that are likely to do well going ahead. Read more

Brigade Enterprises gain 5 percent after Q4 result

Wednesday, May 19, 2021
Shares of Brigade Enterprises gained 13 per cent to Rs 279.95 after the realty company reported a sharp surge in consolidated net profit to Rs 39.57 crore in Q4 FY21 from Rs 2.68 crore in Q4 FY20.Total income rose to Rs 820.86 crore in Q4 from Rs 644.34 crore in the previous year.The mid cap stock has gained 174% in one year and risen 5.16% since the beginning of this year.The board of directors recommended a final dividend of Rs 1.20 per equity share (12 percent) of Rs 10 each which is subject to approval of shareholders in the ensuing Annual General Meeting of the Company, the company said in an exchange filing."The dividend will be paid within 30 days from the date of shareholders approval in the ensuing annual general meeting of the company," it added.Brigade Enterprises posted a consolidated net loss of Rs 46.3 crore for the year ended March 2021 compared with net profit of Rs 130.6 crore in the year ended March 2020 . Revenue declined 26% year on year to Rs 1,949.97 cr in FY21 Read more

Closing Bell:Sensex down 290 points, Nifty at 15030.15

Wednesday, May 19, 2021
At close, the Sensex was down 290.69 points or 0.58% at 49,902.64, and the Nifty was down 77.90 points or 0.52% at 15,030.15. M&M, Bajaj Finserv, HDFC, Bharti Airtel, Kotak Mahindra Bank, and Ultratech Cement were among the top losers Sun Pharma, Nestle India, and Bajaj Auto were among the top gainers. About 1743 shares have advanced, 1249 shares declined, and 166 shares are unchanged. The Nifty Financial Services index declined 1 percent, followed by 0.9 percent loss each in the Nifty Private Bank and Metal indices. On the upside, the Nifty Realty index zoomed over 2 percent while the Nifty Pharma index added 1 percent. The S&P BSE MidCap and SmallCap indices ended 0.53 percent and 0.35 percent higher, respectively.

MARKET UPDATE:Volatile market;Sensex fell 100 points and hovered around 50,000 levels;Nifty slid below 15,100-mark

Wednesday, May 19, 2021
The benchmark indices in India traded with a slight cut in early deals today(19th May 2021) amid weak global cues. The S&P BSE Sensex fell 100 points and hovered around 50,000 levels. The broader Nifty50 index, meanwhile, slid below the 15,100-mark. Mahindra & Mahindra, Kotak Mahindra Bank, IndusInd Bank, and ONGC were all down over 1 percent. Among other individual stocks, Tata Motors slid over 5 percent after announcing its March quarter results. The trend among Nifty sectoral indices was mixed, with gains in the Nifty Pharma index being offset by losses in the Nifty Auto index. Meanwhile, the broader indices outran their benchmark peers, with both the S&P BSE MidCap and SmallCap indices ruling over half a percent higher. Twenty-five companies, including Indian Oil Corporation, Indiabulls Housing Finance, JK Tyre & Industries, and SML Isuzu are scheduled to release quarterly earnings today.

Sensex soared 613 pts; Nifty at 15,108 levels; MidCap index hits record peak

Tuesday, May 18, 2021
As the daily Covid-19 cases reported become less than three lakh for the second straight day, domestic indices advanced over 1 percent today(18th May 2021). Automobile and consumer discretionary stocks caught investors' fancy as they hoped that restrictions/curbs would ease once cases decline further. Supporting the sentiment were news flows around the vaccination front that more and more pharma companies are tying up for vaccine manufacturing. Visibility on economic recovery has largely continued even during the lockdown and now, with restrictions likely to ease, consumer demand is expected to make a come-back, believe analysts. Given this, the benchmark S&P BSE Sensex soared 613 points, or 1.24 percent, to end the day at 50,193 levels. On the NSE, the Nifty50 index reclaimed the 15,000-mark for the first time since March 12 on a closing basis, and shut shop at 15,108 levels, up 185 points or 1.24 percent. Read more

Sensex may top 61000 K by December -Morgan Stanley

Tuesday, May 18, 2021
The Indian equity market will outperform their emerging market (EM) peers in 2021, the latest report by Morgan Stanley and bets on domestic cyclical stocks followed by rate sensitives. The brokerage retained its base case year-end target for Sensex at 55,000 but suggested that if all the pieces fall into place, the 30-stock benchmark could go as high as 61,000 by end of December, a gain of 20 percent from the current level. Morgan Stanley’s indicators for global liquidity and valuations currently point to negative returns over the next 12 months, its leading India Indicators on growth, stability, government, and reserve bank of India policies, and corporate earnings are generally positive about equity return. “With accelerating earnings and reasonable relative valuations, trailing underperformance, and strong policy traction, India seems set to beat EM (emerging markets),” the brokerage said in a note Read more

Closing Bell: Sensex gains 613 points, Nifty at 15108.10

Tuesday, May 18, 2021
At Close, Sensex closed 613 points, or 1.24 percent, higher at 50,193.33. Nifty closed with a gain of 185 points, or 1.24 percent, at 15,108.10 for the second straight day. Mahindra and Mahindra, Bajaj Auto, Titan, Bajaj Finance, Adani Ports, Tata Motors, and Indian Oil Corporation were the top Nifty gainers today while Airtel, ITC, Coal India, Divis Labs, UPL, and Grasim were the top laggards. the Nifty Auto index climbed 3.3 percent followed by the Nifty Energy index up 2 percent, and the Nifty Metal index up 1.7 percent. On the contrary, the Nifty PSU Bank index and the Nifty FMCG index slipped 1.3 percent and 0.25 percent, respectively.BSE Telecom fell 1.66 percent. The S&P BSE MidCap index zoomed 1.9 per cent and the SmallCap index, ended 1.3 percent higher.

MARKET UPDATE:Sensex surged 550 points to 50,100 levels and Nifty reclaimed the psychological level of 15,100

Tuesday, May 18, 2021
The markets in India shot up 1 percent in early deals today (18th May 2021), tracking similar firm trends in other Asian markets. Besides, another day of a dip in daily Covid-19 cases also supported investor sentiment. The S&P BSE Sensex surged 550 points, or 1 percent, to 50,100 levels and the Nifty50 index reclaimed the psychological level of 15,100. Bajaj Finance, IndusInd Bank, and PowerGrid rose over 2 percent, each, and were the top Sensex gainers. The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 2.2 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices ruled 1.5 percent and 1 percent higher, respectively. Thirty-five companies, including Tata Motors, Canara Bank, Aarti Industries, Abbott India, Torrent Pharmaceuticals, Ujjivan Small Finance Bank, and Route Mobile, are set to release their quarterly earnings today. Read more

Hester Biosciences zooms 19 percent on tie up with Bharat Biotech.

Monday, May 17, 2021
Shares of Hester Biosciences gained 19 per cent to Rs 2,944 on the BSE in intra-day trade on Monday, up 33 per cent in the past two trading days, after the pharmaceutical company said it has tied up with the Gujarat government to explore the production of Covid-19 vaccine through technology transfer from Bharat Biotech. Rajiv Gandhi, Hester Biosciences CEO and MD, said in a statement, "A triparty consortium has been formed with the Government of Gujarat as the lead partner, to explore the prospects of manufacturing the Covid vaccine through technology from Bharat Biotech. "The discussions are currently ongoing with Bharat Biotech towards reviewing the infrastructure at Hester, the technology adaption process and the regulatory compliances, he added. Read more

Second wave of Covid-19 will delay earnings recovery of India Inc: Moody's

Monday, May 17, 2021
The massive second wave of coronavirus seen in India will delay earnings recovery for Indian companies, rating agency Moody's said today(17th May 2021). "The sharp rise in infections will disrupt earnings, recovery recorded by companies over the past six months," it said while adding that prolonged and wider lockdown will have a more severe effect on earnings recovery. However, the rating agency sees a limited impact of second-wave lockdowns on economic activity so far. Moody's further said restrictions on movement and lockdowns in several parts of the country will lead to weaker consumer sentiment and will hit housing and automobile sales. It said the slowdown in the construction sector will make a dent in cement demand in India and also sees transportation-fuel demand to take a hit temporarily. Read more

Indian Wholesale inflation soars to 10.49% in April

Monday, May 17, 2021
Wholesale inflation in India accelerated to 10.49 percent in April on account of a surge in the prices of fuel and manufactured products, data released by the commerce and industry ministry showed. The wholesale inflation rate, measured by WPI, has been rising continuously since December. It soared to an eight-year high in March to 7.39 percent. The latest price data released by the government today(17th May 2021) showed that food prices rose to 4.92 percent in April, along with a massive price surge in manufacturing products at 9.01 percent. Fuel and power inflation stood at nearly 21 percent led by higher petrol and diesel prices. Read more

Closing Bell: Sensex gains 848 points, Nifty at 14923.15

Monday, May 17, 2021
At close, the Sensex was up 848.18 points or 1.74% at 49580.73, and the Nifty was up 245.40 points or 1.67% at 14923.20 supported by the auto, metal, and financials. IndusInd Bank was the top gainer followed by SBI. ICICI Bank, HDFC Bank, and Axis Bank. On the downside, Cipla, L&T, Bharti Airtel, Nestle India, Sun Pharma, HDFC Life, and Maruti Suzuki were the top losers. About 2047 shares have advanced, 1024 shares declined, and 215 shares are unchanged. The Bank Nifty index jumped 4% as the top sectoral index gainer on NSE followed by the Nifty Financial Services index 3 percent, and the Nifty Metal index up 2.5 percent. On the contrary, the Nifty Pharma index slipped 0.14 percent on profit booking. The S&P BSE MidCap and SmallCap indices ended 1.6 percent higher each.

MARKET UPDATE:Sensex rose 400 points to 49,130 levels and Nifty topped the 14,750-mark

Monday, May 17, 2021
The indices in India added to their early gains and rose nearly one per cent in early trade today (17th May 2021) amid favourable global cues and further fall in daily Covid-19 cases across the country. The S&P BSE Sensex rose 400 points, or 0.83 percent, to 49,130 levels and the Nifty50 index topped the 14,750-mark. IndusInd Bank and State Bank of India rose 2 percent, each, and were the top Sensex gainers. Meanwhile, Larsen & Toubro and Sun Pharma slipped 1 percent, each. All the Nifty sectoral indices traded in the green, led by the Nifty PSU Bank index, up 2.2 per cent. Broader markets tracked the gains in the benchmarks, and the S&P BSE MidCap and SmallCap indices were trading 0.5 per cent and 0.8 percent higher, respectively. Twenty-four companies including mainly Bharti Airtel, Federal Bank, Colgate-Palmolive, and Orient Cement are slated to post their quarterly results today Read more

Four IPOs worth Rs 4000 crore is expected to hit the market in a few weeks

Saturday, May 15, 2021
Four deals worth a cumulative Rs 4,000 crore is expected to hit the market over the next 3-5 weeks, said investment banking sources. Shyam Metalics, Dodla Dairy, Krishna Institute of Medical Sciences (KIMS) Hospitals, and Clean Science and Technology are among the companies planning to tap the market. While the recent volatility in the secondary markets is a concern, experts believe the sentiment towards IPOs is still buoyant. Bankers said many new investors had taken a liking to IPOs — a big confidence booster for issuers. “The immediate volatility is not a concern. People are factoring in the next financial year numbers. Investors expect the next year to be normal and growth-oriented, giving comfort to issuers,” said Ajay Saraf, executive director, ICICI Securities. Read more

Platts cuts India's 2021 oil demand by 28%

Friday, May 14, 2021
India’s demand for oil & gas has been cut by S&P Global Platts amid the second wave of Covid cases that have triggered lockdowns across key states since the past few weeks. For 2021, it now pegs the oil demand growth at 350,000 barrels per day (b/d), down from a forecast of 485,000 b/d made in February – translating into a fall of nearly 28 percent. India's city gas demand, Platts said, could drop by 25 – 30 percent in the coming months. However, once the lockdowns are lifted, Platts expects the pent-up demand to get released, which in turn will act as a catalyst for economic growth and trigger a demand uptick for oil & gas in the country. Besides India, the demand forecast for 2021 has been revised down for Western Europe and Latin America due to more restrictions stemming from the second and third waves of Covid. Brent oil prices, WU said, will peak in mid-2021 at over $70 per barrel. Read more

Markets will digest dent on June quarter earnings as one-time hit: Analysts

Friday, May 14, 2021
The present Covid-19 pandemic situation across key economic hubs will dent corporate earnings in the June 2021 quarter (Q1FY22), but the markets will take this in their stride and digest them as a one-time hit look forward to growth as the economy normalises after this wave, believe analysts. They expect the second wave in India to peak by June. Economic normalisation, is likely by August – September 2021 according to them. Economic pain, most analysts believe, will be restricted to the second quarter of this fiscal (Q2FY22) as the stringency of the lockdown measures is relatively low as compared to the first wave in 2020. Yet, leading brokerages and rating agencies, including Moody’s, Nomura, Crisil, QuantEco Research, and CARE Ratings, have cut India’s GDP growth estimates for FY22. Read more

Dr Reddy’s Laboratories launched COVID vaccine Sputnik V in the Indian market

Friday, May 14, 2021
Russia’s Covid-19 vaccine Sputnik V launched in India on Friday, with the first dose being administered in Hyderabad. The price of the imported vaccine is priced at a maximum retail price of Rs 948, with 5 percent GST per dose, amounting to Rs 995.4 per dose. Dr. Reddy's Laboratories (DRL), the Indian distribution partner for the vaccine, said that the first consignment of the imported doses landed in India on May 1 and received regulatory clearance from the Central Drugs Laboratory, Kasauli, on May 13. Dr Reddy's on May 14 said it plans to vaccinate 125 million people in the next 8-12 months with the Sputnik vaccine. About 15-20 percent of the initial supplies would be imported from Russia."With the rising cases in India, vaccination is the most effective tool in our battle against COVID-19. Contributing to the vaccination drive in India is our biggest priority right now to help Indians be healthy and safe," said G V Prasad, co-chairman and Managing Director of DRL. Read more

Closing Bell: Sensex gains 42 points, Nifty at 14677.80

Friday, May 14, 2021
At close, the Sensex was up 41.75 points or 0.09% at 48732.55, and the Nifty was down 18.70 points or 0.13% at 14677.80 as a slew of downgrades in the GDP growth forecasts for FY22 along with a slowdown in the vaccination program. Asian Paints was the best performing stock followed by ITC, Nestle India, L&T, Hindustan Unilever Ltd, Reliance Industries Ltd (RIL), Power Grid Corporation of India, among others. On the flip side, IndusInd Bank, Mahindra & Mahindra, Dr Reddy’s Laboratories, State Bank of India (SBI), NTPC, ONGC, Sun Pharma, and Maruti Suzuki were among the top index laggards. About 1402 shares have advanced, 1627 shares declined, and 141 shares are unchanged. The Nifty Metal index was down 4 percent, followed the Nifty Realty index, down 3 percent, and the Nifty PSU Bank and Auto indices, down 2 percent each. On the upside, only the Nifty FMCG index ended in the green, up 2 percent. The S&P BSE MidCap and SmallCap indices lost 1.2 percent each.

MARKET UPDATE:Sensex hovered around 48,760 levels Nifty topped the 14,700-mark

Friday, May 14, 2021
The benchmark indices in India fluctuated between gains and losses in early deals today(14th May 2021). The S&P BSE Sensex hovered around 48,760 levels, and the broader Nifty50 index topped the 14,700-mark. Asian Paints rose 4 percent and were the top Sensex gainer, followed by Titan, SBI, and ITC gained 1 percent, each. On the other hand, TCS, Mahindra & Mahindra, and Tech Mahindra fell 1 percent, each. All the Nifty sectoral indices, except the Nifty IT index, traded with gains, led by the Nifty PSU Bank index, up 2 percent. Forty-one companies, including the likes of Larsen & Toubro, Dr. Reddy's Laboratories, Cipla, Aditya Birla Capital, Just Dial, and Mindspace Business Parks REIT are scheduled to release their quarterly results today. Read more

RBI is urging lenders to cut ties with cryptocurrency exchanges and traders

Thursday, May 13, 2021
RBI is informally urging lenders to cut ties with cryptocurrency exchanges and traders as the highly speculative market booms, despite a Supreme Court ruling that banks can work with the industry, according to sources. The guidance comes as India is crafting a law to ban cryptocurrencies and penalise anyone dealing in them, which would be among the most sweeping crackdowns on the new investing fad in the world. But with the Covid-19 crisis engulfing the country, no one is sure when such a bill may be passed, adding to investors' confusion. The RBI in 2018 had forbidden banks from dealing in all transactions related to bitcoin and other such assets. That diktat was challenged by the crypto exchanges and in March 2020, India's top court overturned the RBI ban and allowed lenders to extend banking facilities to them. With investors continuing to rush into the hot new asset class, however, regulators appear to be gearing up for another try. Read more

Indian stock market’s passive reaction to new Covid-19 situation is not a mystery

Wednesday, May 12, 2021
The stock market’s passive reaction to the harrowing reality on the ground caused by a destructive wave of Covid-19 is a mystery for many. Last year in the US people was dismayed by the stocks rally amid the US Fed’s unprecedented intervention, even as the healthcare infrastructure collapsed in the city after city. This year in India in a similar way the participants and non-participants are equally baffled by the resilience shown by the market even in the face of rising infections, deaths, and localized lockdowns. It goes back to the old adage in the investing world: investors hate uncertainty; they hate fogginess when they look into the future, even though their track record in predicting it accurately is about as good as a flipped coin. Read more

Increased volumes-based buying in brokerage firms

Wednesday, May 12, 2021
The stockbroking and asset management industry has been one of the most rewarded industries amid the Covid-19 pandemic. In FY21, the industry revenues are pegged to have grown between 65-70 percent over FY20. The strong growth was underpinned by robust addition in new customers, according to rating agency Crisil. At the bourses, stocks of various brokerage houses and AMCs have zoomed nearly 300 percent since March 2020. The shares of Geojit Financial Services, for instance, jumped 290 percent between March 24, 2020, and May 11, 2021, while those of 5Paisa Capital, Emkay Global Financial Services, and Aditya Birla Money zoomed up to 263 percent. In comparison, the Nifty50 index is up 90 percent during the period while the broader Nifty500 index has advanced 99 percent, ACE Equity data show. Read more

Siemens shares gains on healthy results for the quarter ended March 2021

Wednesday, May 12, 2021
Shares of Siemens on Wednesday, gained 10 percent, hitting a new high of Rs 2,143.20, on the BSE in intra-day trade after the company reported a strong set of numbers for the quarter ended March 2021. The Company reported a 90 percent rise in consolidated net profit at Rs 334.4 crore for the March quarter, mainly on the back of higher revenues.The consolidated net profit of the company stood at Rs 175.7 crore in the quarter ended March 31, 2020. Total income rose to Rs 3,540 crore in the March quarter from Rs 2,722.1 crore in the same period a year ago. Earnings before interest, taxes, depreciation and amortization (EBITDA) doubled to Rs 440 crore from Rs 220 crore, aided by lower employee costs and other expenses. Read more

Closing Bell: Sensex down 471 poiints, Nifty at 14696.50

Wednesday, May 12, 2021
At close, the Sensex was down 471.01 points or 0.96% at 48690.80, and the Nifty was down 154.30 points or 1.04% at 14696.50 for the second day.Top BSE Sensex losers were IndusInd Bank, Hindustan Unilever Ltd (HUL), ICICI Bank, ONGC, Axis Bank, Kotak Mahindra Bank, Mahindra & Mahindra among others. On contrary, Titan Company, Maruti Suzuki, Power Grid Corporation of India, SBI, Dr Reddy’s were the top gainers. About 1571 shares have advanced, 1443 shares declined, and 151 shares are unchanged. The Nifty Metal index tumbled over 3 percent, followed by the Nifty Private Bank index, down 1.6 percent. The Nifty PSU Bank index zoomed 3.3 per cent. The BSE MidCap and SmallCap indices falling 0.9 percent and 0.6 percent, respectively.

MARKET UPDATE:Sensex dipped 350 points to 48,820 and Nifty hovered around 14,800-level

Wednesday, May 12, 2021
The Indian markets fell over half a percent in early trade today (12th May 2021), tracking similar cues from other Asian markets. The S&P BSE Sensex dipped 350 points, or 0.7 percent, to 48,820 and the broader Nifty50 hovered around 14,800-level. HDFC, Mahindra & Mahindra, Hindustan Unilever, and HDFC Bank fell over 1 percent, each. The Nifty sectoral indexes were mixed, with the Nifty Financial Services index, down 0.7 percent, bleeding the most. The broader markets, meanwhile, continued to outrun their benchmark peers, with the S&P BSE MidCap and SmallCap indexes trading 0.1 percent and 0.4 percent higher, respectively. Thirty-six companies, including Asian Paints, Lupin, UPL, Apollo Tyres, Tata Power, and Pidilite Industries are scheduled to release quarterly earnings today.

Top investor Bay Tree cuts stake in YES Bank by a third

Tuesday, May 11, 2021
Record bad loans, weak corporate governance, as well as depleting capital and deposits led to the collapse of Yes Bank in March 2020, forcing the regulator to ask a group of lenders to infuse capital and rescue it. Since then, the bank has cut back lending to companies and tried to win back depositors under its new CEO Prashant Kumar. Still, its bad loans remain high and a second coronavirus wave is adding to the challenges of growing its business. Bay Tree India Holdings was the largest anchor investor in Yes Bank’s $2 billion equity raising last year when it paid 22 billion rupees for about 55% of the investor portion. It’s now the second-largest single shareholder after the State Bank of India. Read more

Markets in a vulnerable zone: Analysts

Tuesday, May 11, 2021
The equity market in India is in a ‘vulnerable zone’ and is likely to remain very volatile, impacted by the sharp rise in Covid cases since the past few weeks that have seen many state governments impose lockdowns and mobility restrictions to check the rampant spread, said analysts. They, however, have ruled out a deep correction for now. From a medium-to-long term perspective, however, most analysts remain bullish about the markets but do caution against the possible earnings downgrades given the sporadic lockdowns and expensive valuation. While lockdowns can weigh on growth expectations in the near term, acceleration of vaccine drives and the overall direction of active cases will still act as the key catalyst for the market. Read more

Sun Pharma hits new high after getting licence to produce low-cost COVID-19 drug

Tuesday, May 11, 2021
Shares of Sun Pharmaceutical Industries hit a 52 week high of Rs 721.85, up 3 percent on the BSE in intra-day trade on Tuesday after it signed an agreement with Eli Lilly to manufacture its drug, Baricitinib in India. "Sun Pharma yesterday announced that it has entered into a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company for expanding access to Lilly's drug, Baricitinib in India. "Baricitinib is used in combination with Remdesivir for the treatment of suspected or laboratory-confirmed COVID-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO). The drug is approved by the Central Drugs Standard Control Organization (CDSCO) for restricted emergency use in India,"This is another step by Sun Pharma towards making more treatment options available to patients in India dealing with the pandemic, Sun Pharma added. Read more

Closing Bell:Sensex down 341 points, Nifty at 14850.75

Tuesday, May 11, 2021
At Close, the BSE Sensex was down 340.60 points at 49,161.81, and the Nifty50 climbed 91.60 points to 14,850.80 following weak global cues. Kotak Mahindra Bank was the biggest index loser today, trailed by HDFC, Tech Mahindra, HUL, Bajaj Finser, Titan Company, and Bajaj Finance. On the contrary, NTPC, ONGC, PowerGrid, Sun Pharma, UltraTech Cement, and SBI were the top gainers. A total of 190 scrips remained unchanged. Banking & financials, IT, Metals, and Pharma stocks were under pressure, whereas PSU Banks bucked the trend. The S&P BSE MidCap and SmallCap indices gained 0.60 percent and 0.80 percent, respectively.

MARKET UPDATE:Sensex fell 360 points to 49,140 levels and Nifty gave up the 14,850-mark

Tuesday, May 11, 2021
The benchmark indices in India fell close to 1 percent in morning deals today (11th May 2021), tracking weak global cues amid inflation fears. The S&P BSE Sensex fell 360 points, or 0.74 percent, to 49,140 levels and the broader Nifty50 index gave up the 14,850-mark. HDFC, Kotak Mahindra Bank, IndusInd Bank, and Mahindra & Mahindra slid over 1 percent, each, and were the top Sensex laggards. All the Nifty sectoral indices, except Nifty Pharma, were painted red, with the Nifty Metal index, down 2.2 percent, bleeding the most. The losses were relatively contained in the S&P BSE MidCap index, which traded 0.2 percent down. On the other hand, the S&P BSE SmallCap index rose 0.2 percent. Twenty-eight companies, including Siemens, Alembic Ltd, Godrej Consumer Products, Granules India, and KEC International, are scheduled to release their quarterly earnings today.

SBI Life stock to outperform peers over the next one-two years:Analysts

Monday, May 10, 2021
As the second wave of the Covid-19 pandemic gripped India, it resulted in an increased demand for insurance products. The institutional players on the Street saw it as an opportunity and lapped up shares of the largest private player - SBI Life Insurance Company. Moreover, an impressive March quarter show made them even more gung-ho on the prospects of the firm. The stock has rewarded handsomely with a rise of 11 percent from March-end, outperforming the benchmark Sensex which has gained 3 percent in the same period, show data available on ACE Equity. The growth prospects for the industry remain robust, underscored by the latest data. In April, the insurance industry posted Annual Premium Equivalent (APE) growth - a measure of new business sales growth in the insurance industry growth - of 70 percent YoY, coming off a low base with private insurers growing 80 percent and LIC at 57 percent. Read more

RBI relief will only postpone financial stress from India's Covid surge: Fitch

Monday, May 10, 2021
According to the rating agency Fitch.RBI's Covid-19 relief package will provide some relief to financial institutions (FIs) in the next 12-24 months. However, it will largely be at the expense of postponing the recognition and resolution of underlying asset-quality problems. There are growing indications that India’s latest wave of Covid-19 infections will add to risks among financial institutions (FIs) by sapping near-term momentum from the economic recovery, Fitch Ratings said in a statement. “We expect the shock to economic activity from the latest wave of the pandemic in India to be less severe than in 2020, even though caseloads and fatalities are much higher. The authorities are implementing lockdowns more narrowly, and companies and individuals have adjusted behaviour in ways that cushion the effects," it added. Read more

Bandhan Bank down 4 per cent after Q4 result

Monday, May 10, 2021
Shares of the Kolkata-based Bandhan Bank hit an over six-month low of Rs 285.90, down 4 percent on the BSE in intra-day trade on Monday after the bank reported a weak set of numbers for the quarter ended March 2021 as provisions rose against an elevated level of bad loans Net profit fell 80% year-on-year to Rs 103 crore in the January - March quarter. Analysts had estimated a net profit of Rs 947 crore. The bank's net interest income (NII), the difference between interest earned and interest expended, grew by 4.6 percent year on year to Rs 1,757 crore. In Q4FY21, the profit after tax (PAT) of the lender fell to Rs 103 crore compared with Rs 517.3 crore in the same period last year. Provisions rose sharply to Rs 1,594 crore, on account of further provisions carried in its micro-finance portfolio, from Rs 827.36 crore a year ago.

Closing Bell:Sensex up 296 points, Nifty at 14942.35

Monday, May 10, 2021
At close, the Sensex was up 295.94 points or 0.60% at 49,502.41, and the Nifty was up 119.20 points or 0.80% at 14,942.40 for the fourth day lifted by gains in public sector banks, pharma, and metal stocks. Dr Reddy’s, ONGC, Housing Development Finance Corporation, Titan Company, Sun Pharma, Kotak Mahindra Bank among top Sensex gainers. UltraTech Cement, Infosys, Maruti Suzuki were among BSE Sensex losers. About 2034 shares have advanced, 1004 shares declined, and 220 shares are unchanged. The Nifty Metal index, up 2.9 percent followed by the Nifty Pharma index, auto, energy, infra, and PSU Bank indices which rose 1- 2.5 percent. The S&P BSE MidCap and SmallCap indices ruled 0.8 percent and 0.9 percent higher, respectively.

MARKET UPDATE:Sensex rose 300 points at 49,530 levels and Nifty topped the 14,900-mark

Monday, May 10, 2021
The benchmark indices in India traded firm, up over half a percent, in early deals today(10th May 2021), tracking similar trends in other Asian markets. The S&P BSE Sensex rose 300 points, or 0.6 percent, at 49,530 levels and the Nifty50 index topped the 14,900-mark. Dr Reddy's rose 2 percent and was the top Sensex gainer, followed by ONGC, Titan, and Kotak Mahindra Bank (all up 1%). The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 2.9 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices ruled 0.5 percent and 0.8 percent higher, respectively. Twenty-two firms, including Chambal Fertilizers & Chemicals, Venky's, JMC Projects, and Zydus Wellness are slated to post their quarterly numbers today.

Tata Steel shares hit 52-week high post Q4 results

Friday, May 7, 2021
Shares of Tata Steel gained higher by 8.5 percent to Rs 1,191, their fresh record high on the BSE, in intra-day trade on Friday after the company reported its best-ever performance across metrics. The company on May 5 posted a consolidated profit of Rs 6,644.1 crore for the quarter ended March 2021 compared to a loss of Rs 1,481.3 crore in the year-ago quarter. Consolidated revenue from operations stood at Rs 49,977.4 crore, up 38.8 percent over Rs 36,009.4 crore in the corresponding quarter of the previous fiscal. Tata Steel’s consolidated EBITDA for Q4FY21 came in at Rs 14,184 crore, up 48 percent quarter-on-quarter (QoQ) and 196 percent YoY. Tata Steel's standalone operations reported EBITDA/tonne of Rs 27,775/tonne while the European operations reported. With the past two days' gain, Tata Steel has now rallied 97 percent since the Finance minister presented the Union Budget 2021-22 on February 1. Read more

Banks want RBI to relax NPA norms for MSME sector underlockdown stress

Friday, May 7, 2021
Commercial banks have requested the RBI to relax norms on the classification for non-performing loans for micro, medium, and small enterprises (MSMEs) in view of the stress the sector is facing due to lockdowns imposed by different state governments following the second Covid-19 wave. Sources said a request was made to the banking regulator to extend the non-performing asset classification norms for MSME borrowers to 180 days from 90 days now. A sub-standard loan is the first category of NPA. Bankers said the MSME sector was already reeling under pressure and now the second wave will make things extremely difficult for the sector. Read more

Closing Bell: Sensex up 256 points, Nifty at 14823.15

Friday, May 7, 2021
At Close, Sensex up 256.71 points at 49,206.47.and Nifty gained 98.40 points to 14,823.20 due to firm global cues and healthy corporate earnings helped indices to gain for the third consecutive session. Bajaj Finserv, Mahindra & Mahindra, HDFC, and NTPC were among the top gainers on Sensex, while Bajaj Auto, Bajaj Finance, and Infosys were the top losers. The Nifty Metal index advanced 5 percent on the NSE while all other sectoral indices clocked gains between 0.04 percent and 1 percent. The Nifty PSU Bank index was the only loser, down 0.14 percent. The S&P BSE MidCap and SmallCap indices ended 0.13 percent and 0.4 percent higher, respectively. India VIX fell 5% to close below 21 levels.

MARKET UPDATE:Sensex gained 350 points at 49,300 levels and Nifty index reclaimed the 14,800-mark

Friday, May 7, 2021
The benchmark indices in India rose over half a percent today(7th May 2021), tracking firm cues from their Asian peers. Among headline indices, the S&P BSE Sensex gained 350 points, or 0.7 percent, at 49,300 levels and the broader Nifty50 index reclaimed the 14,800-mark. Mahindra & Mahindra, Dr Reddy's, State Bank of India, and Kotak Mahindra Bank rose 1 percent, each. The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 2 percent. The broader markets, meanwhile, underperformed, with the S&P BSE MidCap and SmallCap indices trading 0.3 percent and 0.5 percent higher, respectively. Twenty-five companies, including Housing Development Finance Corporation, UltraTech Cement, Dabur India, Cholamandalam Investment and Finance Company, and Kansai Nerolac Paints are scheduled to release their quarterly earnings today. Read more

Coforge shares hits new high on robust Q4 numbers

Thursday, May 6, 2021
Shares of Coforge IT firm gained 17 percent intraday on May 6 and hits 52 weeks high of Rs 3449 after the company declared a17 percent rise in consolidated net profit at Rs 133 crore in the three months ended March 2021. The company had posted a net profit of Rs 113.6 crore in the year-ago period, Coforge said in a regulatory filing. Consolidated revenue grew 7.1 percent sequentially in dollar terms to USD 172.1 million during the January-March quarter. Revenue in constant currency (CC) terms grew 5.1 percent over the preceding quarter. In rupee terms, revenue was up by 6 percent sequentially and up by 13.7 percent year-on-year (YoY) at Rs 1,261 crore during Q4FY21. The company’s profit after tax (PAT) for the quarter increased 17 percent year-on-year to Rs 133 crore. Read more

Why isn’t India’s stock market falling more?

Thursday, May 6, 2021
What are the reasons for India’s stock market not falling much in spite of the most pervasive second wave of Covid-19 pandemic considering the risky asset class in a country struggling with its most horrific calamity. New daily Covid-19 infections have remained above 300,000 for two weeks now, the worst caseload the world has seen. The death rate is 3,700-plus. Fear of the virus is pervasive. Even the rich and the powerful are finding it hard to arrange a hospital bed or track down an oxygen cylinder. But in all this, the benchmark Nifty 50 Index is down ever so slightly, clocking a less than 5% decline since mid-February. At 32 times earnings, almost double the valuations in China, the Indian market is super-expensive. The logic for those prices runs like this: Unlike last year, there’s no national lockdown. And there may not be one if the peak of the surge is just a week or two away, as some epidemiological models indicate. Read more

Closing Bell: Sensex gains 272 points, Nifty at 14724.80

Thursday, May 6, 2021
At Close, the Sen sex gained 272.21 points to close at 48,949.76, and the Nifty50 was up 106.90 points at 14,724.80. Bajaj Auto, Tech Mahindra, Infosys, ICICI Bank, Nestle India, and HDFC were the top gainers on Sensex. On the other hand, Power Grid, ONGC, and Asian Paints were the top losers. The Nifty PSU Bank and Pharma indices were down 1.2 percent and 0.3 percent, respectively. On the upside, metals and IT stocks continued to shine with the Nifty Metal and IT indices soaring up to 2.5 percent. The S&P BSE MidCap index added 0.9 percent while the S&P BSE SmallCap index gained 0.6 percent.

MARKET UPDATE:Sensex hovered around 48,820 levels, up 150 points, and Nifty topped the 14,650-mark

Thursday, May 6, 2021
The benchmark indices in Indian markets traded with slim gains in today's(6th May 2021) morning deals amid favourable cues from other Asian markets. The S&P BSE Sensex hovered around 48,820 levels, up 150 points, and the Nifty50 index topped the 14,650-mark. Bajaj Auto, ONGC, and Bajaj Finance gained 1 percent, each, and were the top Sensex gainers. Among other individual stocks, IDBI Bank zoomed 15 percent after the Cabinet Committee on Economic Affairs gave its in-principle approval for strategic disinvestment along with transfer of management control in the bank. The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 2.8 percent. Read more

Equitas, Ujjivan, AU Small Finance Bank gain as RBI announces loan relief

Wednesday, May 5, 2021
Shares of small finance banks (SFBs) like Equitas SFB, Ujjivan SFB, AU SFB, and Suryoday SFB, on Wednesday, rose up to 6 percent from their respective intra-day day lows on the BSE after the Reserve Bank of India (RBI) announced a special long-term repo operation window for SFBs, whereby the banks can borrow funds up to Rs 10,000 crore at repo rate for deploying for fresh loans SFBs, to be deployed for fresh lending of up to Rs 10 lakh per borrower.

RBI announces relief measures to cushion NPA blow from second Covid wave

Wednesday, May 5, 2021
The announcement of Reserve Bank of India(RBI) a fresh round of restructuring of loans for individual and small borrowers for up to two years is a start of a possible long-drawn battle, say analysts who hailed the timely action by the central bank but fell short of giving a verdict on the impact on the sector. The possible impact on the banking sector of the announcements is difficult to be assessed at the moment as the Covid-19 situation remains precarious, they say. “The RBI has done something, to begin with, which addresses the concerns of, both, the lenders and the borrowers because of the uncertainty due to the rising cases and subsequent lockdowns,” says an expert. He also adds that to pre-empt the situation and comment on the impact is extremely difficult right now because we don’t know how long the local lockdowns will stay or whether the vaccination drive will pick up sooner than expected to improve the economic situation.

Closing Bell:Sensex gains 424 points, Nifty at 14617.85

Wednesday, May 5, 2021
At close, the Sensex was up 424.04 points or 0.88% at 48,677.55, and the Nifty was up 121.40 points or 0.84% at 14,617.90 after RBI Governor Shaktikanta Das in an unscheduled speech today provided more liquidity support by announcing various measures. Sun Pharma and IndusInd Bank were the top Sensex gainers while Bajaj Finance, Asian Paints, HUL, and Tech Mahindra were the only losers in the Sensex pack. About 1794 shares have advanced, 1084 shares declined, and 166 shares are unchanged. The Nifty Bank index ended 1.6 percent up. The Nifty Financial Services, IT, Auto, and Metal indices gained up to 1.3 percent on the NSE. The S&P BSE MidCap index settled over 1 percent higher while the S&P BSE SmallCap index gained 0.7 percent.

Hikal hits upper circuit on signing 10-year deal with global pharma Co

Wednesday, May 5, 2021
Shares of smallcap firm Hikal on Wednesday, rallied 10 percent to Rs 313.65, and touched a new high, on the BSE in intra-day trade after the company signed a multi-year contract with a leading global pharmaceutical company for the development and supply of a portfolio of niche active pharmaceutical ingredients (APIs) over a period of 10 years. The development will start this year and commercial supplies will commence post successful development and plant commercialization estimated to be in FY 2024 onwards. With this deal, Hikal is entering into a niche area of chemistry and products thereby bolstering its Animal Health vertical. Hikal and its customer will be jointly investing at its Panoli, Gujarat site to set up a multipurpose manufacturing asset for manufacturing of these APIs, it said. Read more

MARKET UPDATE:Sensex up 200 points at 48,470 and Nifty topped the 14,550-mark

Wednesday, May 5, 2021
The benchmark indices in India climbed off their early highs but were still trading in the green today(5th May 2021) as RBI Governor Shaktikanta Das unveiled liquidity support measures amid rising Covid-19 cases in India. Among the headline indices, the S&P BSE Sensex was up 200 points at 48,470 and the broader Nifty50 index topped the 14,550-mark. ONGC gained 3 percent and was the top Sensex gainer, followed by NTPC, Axis Bank, and Bharti Airtel (all up 1%). All the Nifty sectoral indices were painted green, led by the Nifty PSU Bank index, up 1.8 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.6 percent and 0.5 percent higher, respectively. Twenty companies, including Tata Steel, Adani Enterprises, Adani Green Energy, Blue Dart Express, Ceat, Craftsman Automation, and Deepak Nitrite are set to release quarterly earnings today.

Stocks that have doubled your money so far in 2021

Tuesday, May 4, 2021
Equity markets have so far had a turbulent year with indices oscillating between gains and losses. On a year-to-date basis, the benchmark S&P BSE Sensex has advanced merely 2 percent while the Nifty50 index has added 4.6 percent. Buying in the broader markets has been relatively better with the S&P BSE500 index climbing around 8 percent during the period. Individually though, certain stocks have outperformed the indices by a huge margin on the back of positive news flow. Adani Total Gas, for instance, has soared 207 percent YTD. It recently became the fourth Adani Group company to enter the elite club of Rs 1 trillion market capitalisation after posting a stellar December quarter (Q3FY21) earnings show. During the said period, it saw the highest-ever financial performance with robust physical infrastructure growth despite the ongoing Covid-19 pandemic. That apart, stocks of Hindustan Copper, HEG, and Adani Enterprises have zoomed between 142 percent and 153 percent. Read more

Air India pilots threaten to stop work if not vaccinated on priority

Tuesday, May 4, 2021
Air India pilots union - ICPA - has raised an issue with Air India Director Captain R S Sandhu that they will "stop work" if the airline fails to set up vaccination camps on a 'Pan India' basis for the flying crew above the age of 18 years Also said, "With no healthcare support to the flying crew, no insurance, and a massive opportunistic pay cut, we are in no position to continue risking the lives of our pilots without vaccination. "Our finances are already spread thin covering our bedridden colleagues and provisioning for families lest we inadvertently infect them with the deadly virus that is an ever-present occupational hazard for us." According to the union, many crew members have been diagnosed as Covid positive and are struggling to get oxygen cylinders."The employees who are doing desk jobs and the majority opting to work from home are allowed to get vaccinated, leaving the flying crew vulnerable."

Closing Bell: Sensex down 465 points, Nifty at 14496.50

Tuesday, May 4, 2021
At close, the Sensex was down 465.01 points or 0.95% at 48253.51, and the Nifty was down 137.70 points or 0.94% at 14496.50 as an unwavering rise in Covid-19 cases and a slower-than-expected pace of vaccination worried investors on Dalal Street. Reliance Industries was the top loser followed by Sun Pharma, Dr Reddy’s, HDFC Bank, and HDFC. While gainers include ONGC, Bajaj Finance, and TCS. About 1374 shares have advanced, 1534 shares declined, and 169 shares are unchanged. The Nifty PSU Bank index gained 3.5 percent, The Nifty Pharma index, on the contrary, was down 2 percent. The S&P BSE MidCap and SmallCap indices each ended about half a percent lower today.

Accumulate stocks of PSUs that are likely to be disinvested say analysts

Tuesday, May 4, 2021
Analysts suggest investors accumulate stocks of PSUs, especially the ones that are likely to be disinvested, at the current levels from a medium-to-long-term perspective. “There are a lot of PSU stocks that have not participated in the market rally. The fall from their peak levels is a good opportunity to buy from a medium-to-long-term horizon. I am confident that the government will be able to achieve the fiscal 2021-22 (FY22) divestment target. Due to the ongoing second wave of Covid, it may dole out some relief measures, which will cost money. To fund such initiatives, it will have to go aggressive on divestment once the market conditions improve,” say experts. Read more

MARKET UPDATE:Sensex hovered around 48,670 levels and Nifty hovered below 14,650-mark

Tuesday, May 4, 2021
The markets in India fluctuated between gains and losses in today's(4th May 2021) morning deals. The S&P BSE Sensex hovered around 48,670 levels, down 40 points. Earlier, the index had risen to as high as 48,997. The broader Nifty50 index hovered below 14,650-mark. IndusInd Bank, Axis Bank, and ICICI Bank rose 2 percent, each, and were the top Sensex gainers. Among other individual stocks, L&T Technology Services fell over 8 percent after announcing their quarterly results. Majority of the Nifty sectoral indices traded in the green, led by the Nifty PSU Bank index, up 1.9 percent. Twenty companies, including Adani Ports and Special Economic Zone, Alembic Pharmaceuticals, Apollo Pipes, DCM Shriram, IIFL Securities, Larsen & Toubro Infotech, and RBL Bank are set to release their quarterly earnings today.

Indian government is unlikely to impose a nationwide lockdown

Monday, May 3, 2021
The Indian government is unlikely to impose a nationwide lockdown, though states and UTs have been advised to take stringent measures and implement “customised lockdowns” to break the chain of transmission and curb the spread of COVID-19 infection, official sources said. The Supreme Court today directed the central and state governments to consider enforcing a ban on mass gatherings and super spreader events as well as consider imposing a lockdown. "We would seriously urge the central and state governments to consider imposing a ban on mass gatherings and super spreader events. They may also consider imposing a lockdown to curb the virus in the second wave in the interest of public welfare," the Supreme Court said. Read more

India's manufacturing sector activity was largely flat in April

Monday, May 3, 2021
Manufacturing sector activity in India was largely flat in April, as rates of growth for new orders and output eased to eight-month lows amid the intensification of the COVID-19 crisis, a monthly survey said today(3rd May 2021). The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 55.5 in April, little changed from March's reading of 55.4. "The PMI results for April showed a further slowdown in rates of growth for new orders and output, both of which eased to eight-month lows amid the intensification of the COVID-19 crisis," said Pollyanna De Lima, Economics Associate Director at IHS Markit. Lima also noted that "the surge in COVID-19 cases could dampen demand further when firms' financials are already susceptible to the hurdle of rising global prices." On the prices front, survey participants also signaled a steep increase in input costs, the quickest since July 2014, and upward revisions to selling prices. Read more

Closing bell: Sensex down 64 points, Nifty at 14634.15

Monday, May 3, 2021
At close, the Sensex was down 63.84 points or 0.13% at 48718.52, and the Nifty was up 3.10 points or 0.02% at 14634.20. Bharti Airtel, Maruti Suzuki India, SBI Life, and HUL were the best-performing stocks. While Titan, Reliance Industries Ltd, IndusInd Bank, Axis Bank, BPCL, Kotak Mahindra Bank, and State Bank of India (SBI) were the losers in the Sensex pack. About 1803 shares have advanced, 1184 shares declined, and 162 shares are unchanged. The Nifty Metal index rallied 2 percent today, followed by the Nifty FMCG index, up 1 percent. On the downside, the Nifty Bank index slipped 0.7 percent on the NSE. The S&P BSE SmallCap index gained 1.6 percent, and the S&P BSE MidCap index, on the other hand, settled 0.05 percent higher.

MARKET UPDATE:Sensex down 350 points at 48,430 levels, and Nifty hovered below 14,550-mark

Monday, May 3, 2021
The Indian markets came out of the opening lows but were still trading over half a percent down in today's (3rd May 2021) morning deals. The S&P BSE Sensex traded at 48,430 levels, down 350 points and the broader Nifty50 index hovered below the 14,550-mark. State Bank of India, Titan, and Bajaj Finance fell over 2 percent, each, and were the top Sensex laggards. Reliance Industries also slipped 2 percent after the announcement of its March quarter results. All the Nifty sectoral indices, except the Nifty Pharma index, traded in the red, with the Nifty PSU Bank index, down 2 percent, bleeding the most. Twenty-one companies are slated to post their March quarter numbers today, including Kotak Mahindra Bank, SBI Life Insurance Company, Tata Chemicals, Godrej Properties, L&T Technology Services, and Varun Beverages.

Election results 2021 UPDATE: It's TMC in Bengal; BJP in Assam; LDF in Kerala

Sunday, May 2, 2021
Counting of votes to the legislative assemblies of Tamil Nadu, Kerala, West Bengal, Assam, and the union territory of Puducherry is underway. A number of seats in the four states and 1 UT are Assam (126), West Bengal (294 seats), Tamil Nadu (234 seats), Kerala (140 seats), and Puducherry (30 seats). West Bengal election result 2021 LIVE updates: Trends indicate that incumbent Mamata Banerjee-led Trinamool Congress (TMC) will end up convincingly winning in West Bengal, while challenger Bharatiya Janata Party (BJP) could fall way below its expected number of seats (elections were held in 292 constituencies). In a setback of sorts for the TMC, however, party chief and chief minister Mamata Banerjee leading with a wafer-thin margin (820 votes) against opponent Suvendu Adhikari’s in Nandigram. Read more

GST collection for April 2021 sets new record (Rs.1.41 trillion)

Saturday, May 1, 2021
Surpassing the previous high in March, GST collections in the month of April set another fresh record at Rs 1.41 trillion, according to the government data released today(1st May 2021). April month's GST revenues are about 14 percent higher when compared with the collections of the previous month. GST collections have consistently crossed Rs 1 trillion marks for the last seven months. "Despite the second wave of coronavirus pandemic affecting several parts of the country, Indian businesses have once again shown remarkable resilience by not only complying with the return filing requirements but also paying their GST dues in a timely manner during the month," the government said in an official statement. During April, the revenues from the domestic transactions (including import of services) are 21 percent higher than the revenues from these sources during the last month. Read more

India's coronavirus crisis may derail the world economy

Saturday, May 1, 2021
The second wave of the COVID-19 pandemic has struck India with a devastating impact. With over 300,000 new cases and 3,000 deaths across the country each day at present, the total number of deaths has just passed the 200,000 mark – that’s about one in 16 of all COVID deaths across the world. There is now a humanitarian crisis of significant proportions. India is a country of 1.4 billion people and makes up a sixth of the world’s population. Hence it is also most likely going to affect the world economy. India is itself the fifth largest economy in the world. With relatively high growth rates (of between 4% and 8%) and its large size, it has a significant impact on the world economy. Read more

Sensex ends 984 points lower, halts 4-day rally-investors' wealth came down by Rs 2.02 lakh

Friday, April 30, 2021
Indian benchmark indices put an end to a four-day winning run today(30th April 2021) as a worsening pandemic and shortage of vaccines in the country spooked Dalal Street bulls. Investors dumped whatever was in their hands on fears that a recovery could now be delayed. In the freefall, investors' wealth came down by Rs 2.02 lakh crore as the total market capitalisation of BSE-listed companies plunged to Rs 207.01 lakh crore. For Dalal Street investors bears came roaring amid weakness in Asian markets and an unabated rise in Covid-19 cases along with hiccups in vaccination drive back home. Profit booking too weighed on markets following four straight sessions of gains that led to a 4 percent rally in the benchmark indices this week. Read more

Closing Bell: Sensex falls 983 points, Nifty at 14631.10

Friday, April 30, 2021
At close, the Sensex was down 983.58 points or 1.98% at 48,782.36, and the Nifty was down 263.80 points or 1.77% at 14,631.10 amid weakness in Asian markets and unabated rise in Covid-19 cases along with hiccups in vaccination drive back home. HDFC Bank, Housing Development Finance Corporation (HDFC), ICICI Bank, Kotak Mahindra Bank, Asian Paints, Mahindra & Mahindra Reliance Industries Ltd (RIL) were among top Sensex losers. While, ONGC, Sun Pharma, Dr Reddy’s, and Bajaj-Auto were the top gainers. About 1332 shares have advanced, 1554 shares declined, and 166 shares are unchanged. The Nifty Bank and Financial Services indices dropped 3 percent each while the Nifty FMCG, Auto, IT, and Realty indices slipped up to 1.5 percent. The Nifty Pharma index bucked the trend and gained settled 1 percent higher. The S&P BSE SmallCap settled just 0.07 percent lower and the MidCap index, on the other hand, slipped 0.65 percent.

Tata Coffee gains 9 per cent after Standalone Profit Surges 10 Times In March Quarter

Friday, April 30, 2021
Shares of Tata Coffee rallied over 9 percent in Friday's session to hit a 52-week high of Rs 139.70 on the BSE after its standalone profit surged 10 times to ₹ 40 crores from ₹ 3.99 crores during the same quarter last year. The company on Thursday posted a more than two-fold jump in consolidated net profit at Rs 57.37 crore for the fourth quarter of 2020-21 fiscal on strong income, as against a net profit of Rs 24.05 crore in the same quarter of the previous fiscal. Its revenue from operations rose 30 percent to ₹ 219 crores from ₹ 167 crores during the same quarter last year. The company's managing director Chacko P Thomas said the Q4 performance remained strong despite challenging conditions."Our India Instant Coffee exports for the quarter have been higher despite logistics issues and a fresh wave of lockdowns in Europe, which are expected to ease in the near future. We have seen stable performances across key geographies.

MARKET UPDATE:Sensex dropped 517 points to quote at 49,249 levels while Nifty hovered around 14,750-mark

Friday, April 30, 2021
Indian markets drove lower today(30th April 2021) after four straight sessions of gains this week due to unfavourable global market cues, unabated rise in Covid cases, and hiccups in vaccination. The benchmark indices started gap-down with up to 1 percent cuts. In absolute terms, the headline S&P BSE Sensex dropped 517 points to quote at 49,249 levels in early deals. On the NSE, the Nifty50 hovered around 14,750-mark, down 137 points. Wipro (up nearly 4 per cent) was leading the list of gainers on the Nifty after the IT major revised its IT services revenue guidance to $2,324-$2,367 million for the April-June quarter of FY22, which translates to a sequential growth of 8-10 per cent. Bajaj Auto, ONGC, Divis's Labs, Dr Reddy's Labs, and Sun Pharma were the other top-performing stocks on the 50-share index. Read more

HUL Q4 PAT jumps 41% YoY to Rs 2,143 crore

Thursday, April 29, 2021
Hindustan Unilever (HUL) today(29th April 2021) reported standalone net profit at Rs 2,143 crore for the March quarter of the financial year 2020-21 (Q4FY21), up 41.07 percent year-on-year (YoY). The company had reported a profit of Rs 1,519 crore in the same period last year. On a sequential basis, the figure jumped 11.55 percent from Rs 1,921 crore posted in the December quarter. The revenue during the quarter under review jumped 34.63 percent YoY to Rs 12,132 crore in comparison with Rs 9,011 crore in the same period last year. It climbed 2.27 percent quarter-on-quarter (QoQ). The March quarter results beat analysts estimates on the profit front as brokerages had estimated the figure to grow between 11-32 percent YoY. While they had projected the figure to be flat on a QoQ basis. Even the March quarter revenue beat analysts estimate marginally.

Markets are geared up for a bull-phase

Thursday, April 29, 2021
Indian benchmark indices extended their bull run to the fourth straight day today(29th April 2021) supported by the US Fed decision to keep policy loose and firm global markets cues. Starting gap-up, frontline indices reclaimed major psychological marks in the early deals with the S&P BSE Sensex reclaiming the 50,000 marks. Profit booking, mainly in banking counters, saw the frontline index give up some of its gains as trading progressed. There are indications that the markets will continue their journey north, as long as global and domestic cues remain supportive. S&P BSE SENSEX has scaled the resistance range of 50,270 with an intra-day high of 50,375 on Thursday Read more

Closing Bell:Sensex up 32 points, Nifty ay 14894.90

Thursday, April 29, 2021
At close, the Sensex was up 32.10 points or 0.06% at 49,765.94, and the Nifty was up 30.40 points or 0.20% at 14,894.90 for the fourth straight day on the day of monthly F&O expiry for the April series. Bajaj Finserv, Bajaj Finance, Axis Bank, Reliance Industries Ltd (RIL), IndusInd Bank, Titan Company, HUL were the top gainers in the Sensex pack. On the flip side, Bajaj-Auto, Housing Development Finance Corporation (HDFC), HCL Tech, Larsen & Toubro (L&T), State Bank of India (SBI) were the top losers. About 1376 shares have advanced, 1505 shares declined, and 176 shares are unchanged. The Nifty Metal index gained 4.5 percent. On the downside, the Nifty PSU Bank index skidded 1.3 percent, trailed by losses in the Nifty Auto index, down 1 percent. The S&P BSE MidCap index ended 0.18 percent lower today while the S&P BSE SmallCap index advanced 0.13 percent.

MARKET UPDATE:Sensex up 300 points at 50,045 level while Nifty up 87 points at 14,960

Thursday, April 29, 2021
Indian benchmark indices extended their bull run to the fourth straight day today(29th April 2021) supported by the US Fed decision to keep policy loose and firm global markets cues, Starting gap-up, frontline indices reclaimed major psychological marks in the early deals. The indices, however, pared gains marginally with the benchmark S&P BSE Sensex up 300 points to quote at 50,045 level while the Nifty50 was at 14,960, up 87 points. Earlier in the day, the indices hit respective day highs of 50,376 and 15,044, respectively. The Sensex index is back above 50,000 after 12 trading sessions while the Nifty has reclaimed the 15,000-mark for the first time since March 16. The benchmark indices leaned on Reliance Industries, HDFC twins, Axis Bank, ICICI Bank, and Bajaj Finance to support the fresh breakouts. All the heavyweights were up in the range of 2 percent to 2.5 percent. Read more

Sensex zooms 790 pts; banks rally: Investors look beyond Covid cases' surge

Wednesday, April 28, 2021
Expectations that Covid-19 cases could soon peak in the country boosted investor confidence on Dalal Street today(28th April 2021). Besides, healthy buying in the financial counters ahead of the monthly expiry of the F&O contracts of April due tomorrow further lifted benchmark indices 1.6 percent today. Today was the third consecutive day of gains at the bourses. Maharashtra’s stabilising Covid cases could be a precursor to India's curve flattening over one-two months, believes some experts. Meanwhile, CLSA opines that the surge in Covid cases in Maharashtra may taper in May as the state is in its fourth month of the second wave. This, it believes, will be positive for the markets. Read more

Zomato files for Rs 8,250 crore IPO

Wednesday, April 28, 2021
Food delivery aggregator and rating platform Zomato on April 28 filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 8,250 crore ($1.11 billion) through its Initial Public Offering (IPO) as consumers increasingly turn to order food online during the Covid-19 pandemic. Of this, Rs 7,500 crore will be a fresh issue, while Rs 750 crore will be an offer for sale for its existing investor Info Edge.Zomato said in the DRHP that it expects to use the funds raised through the IPO to fund its organic and inorganic growth initiatives, which include customer and user acquisition, delivery and technology infrastructure, and any new acquisitions. Kotak Mahindra Capital, Morgan Stanley India, Credit Suisse Securities India, BofA Securities India, and Citigroup Global Markets India are the lead book-running managers for Zomato's IPO. Read more

Economists tweak their GDP projections for FY22 due to Lockdown and mobility curbs

Wednesday, April 28, 2021
Recent lockdown and mobility curbs in more Indian cities – have led to economists tweak their gross domestic growth (GDP) projections for fiscal 2021-22 (FY22). In a recent note, those at IHS Markit suggest that they expect the Indian economy (as measured by GDP) to grow at 9.6 percent in FY22. Maharashtra’s lockdown, it said, represents a significant dampener on growth, as the state accounts for 16 percent of the national GDP. “IHS Markit forecasts 9.6 percent real GDP growth in FY 2021, though the wider restrictions forecast above indicate that there is scope for further reductions in economic growth, as these measures would mean income and job losses for workers alongside significant output and revenue losses for firms, particularly in the services sector and the informal economy,” wrote Deepa Kumar, deputy head, Asia-Pacific, IHS Markit. Read more

Closing Bell:Sensex gains 790 points, Nifty at 14864.55

Wednesday, April 28, 2021
At close, the Sensex was up 789.70 points or 1.61% at 49733.84, and the Nifty was up 211.50 points or 1.44% at 14864.50. Bajaj Finance was the top Sensex gainer, followed by IndusInd Bank, Bajaj Finsv, ICICI Bank, Kotak Mahindra Bank, State Bank of India (SBI), Bajaj-Auto, HDFC Bank, and Bharti Airtel among others. On the flip side, Nestle India, HCL Tech, Larsen & Toubro (L&T), Tata Consultancy Services (TCS), ITC were among the top Sensex losers. About 1730 shares have advanced, 1180 shares declined, and 170 shares are unchanged. The Nifty Realty index dropped 0.6 percent, the Nifty Metal and Pharma indices slipped 0.3 percent each. The Nifty Bank index soared 3 per cent and the Nifty Private Bank, PSU Bank, and Financial Services indices too climbed over 2.5 percent each. The S&P BSE MidCap index ended 0.99 percent up while the S&P BSE SmallCap index added 0.7 percent.

MARKET UPDATE:Sensex advanced 390 points to quote at 49,300 levels and Nifty reclaimed the 14,750-mark

Wednesday, April 28, 2021
Starting higher for the third straight day, Indian equity markets edged up 0.8 percent in early deals today(28th April 2021). Among the frontline indices, the S&P BSE Sensex advanced 390 points to quote at 49,300 levels while the NSE's Nifty50 reclaimed the 14,750-mark and was at 14,764. Bajaj Auto, Bajaj Finance, and Bajaj Finserv, all up between 1.5 percent and 2 percent, were the top-performing stocks on the Nifty. These were followed by the State Bank of India, Tata Motors, Hero MotoCorp, and Divis Labs. On the downside, Britannia, HUL, Hindalco, JSW Steel, and Maruti Suzuki slipped up to 1 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices gained 0.76 percent and 0.74 percent, respectively. As regards sectoral trends on the NSE, the Nifty Metal index witnessed profit-booking and slipped 0.25 percent on the NSE. On the contrary, the Nifty Auto index zoomed 1.4 percent, trailed by the Nifty Bank index, up 0.7 percent. Read more

RIL, pvt banks take Sensex 558 pts up and Nifty tops 14,650

Tuesday, April 27, 2021
Hefty buying in industry heavyweights such as Reliance Industries, HDFC Bank, ICICI Bank, L&T, SBI, and TCS, coupled with a decline in fresh Covid-19 cases in the country, enthralled investors on Dalal Street today(27th April 2021). Helped by the across-the-board buying visible at the bourses as bargain hunters returned to Dalal Street, the benchmark indices climb over 1 percent on Tuesday. On the BSE, the 30-share Sensex settled at 48,944 levels, up 558 points while the broader Nifty50 closed at 14,653 levels, up 168 points on the NSE. Hindalco, L&T, Tata Steel, Divis Labs, Reliance Industries, Bajaj Finance, and SBI were the top gainers on the 50-share pack, up between 3.7 percent and 5 percent. HDFC Life, SBI Life, Kotak Mahindra Bank, Maruti Suzuki, and Nestle India declined up to 3.6 percent to end as top laggards. All the key sectoral indices settled the session in the green with the Nifty Metal index ruling 2.7 percent up. This was followed by the Nifty PSU Bank inde Read more

Auto sector problems to continue as downgrades loom under Pandemic

Tuesday, April 27, 2021
Over the past three months, the BSE Auto index has been underperforming the benchmarks amid multiple headwinds, including weak retail, rising commodity prices, and supply disruptions. The auto index, after outperforming the benchmarks for most of FY21, is down about 9 percent, as compared to the 2 percent decline in the Sensex during the last three months. The derating on the one-year forward price to earnings ratio has been higher, about 18 percent since January. Most analysts believe these headwinds will remain in the near term. “Due to the ongoing economic slowdown amid the second wave of Covid, the turbulence (demand woes) the sector is facing for over a month and a half is expected to continue into May, as well. On the other hand, higher commodity prices and other cost inflation would impact operating margins of these companies in the June quarter of FY22 and beyond.” say experts. Read more

Maruti Suzuki Q4 profit down 10% to Rs 1,166 crore

Tuesday, April 27, 2021
India’s largest passenger car manufacturer Maruti Suzuki India on Tuesday reported a near 10 percent year-on-year fall in net profit to Rs 1,166 crore for the quarter ended March on account of lower sales volume, increase in commodity prices, adverse foreign exchange movement, and lower non-operating income. During the previous year, the company reported a profit of Rs 1,291.7 crore. Revenue from operations in Q4 FY21 stood at Rs 24,023.7 crore, up 32 percent from Rs 18,198.7 crore in the year-ago period backed by strong double-digit growth in sales. In the December quarter of the current fiscal, PAT stood at Rs 1,941.4 crore. On a consolidated basis, the net profit slipped 6.1 percent to Rs 1,241.1 crore. Analysts had expected Maruti to report a 38 percent year-on-year jump in net profit to Rs 1,785 crore for the quarter on revenues of Rs 23,704 crore. Read more

Closing Bell:Sensex up 557 points, Nifty at 14653.05

Tuesday, April 27, 2021
At close, the Sensex was up 557.63 points or 1.15% at 48,944.14, and the Nifty was up 168 points or 1.16% at 14653 as COVID-19 cases declined in the country. Tech Mahindra, Bajaj Finance, Reliance Industries Ltd (RIL), Power Grid Corporation of India, HDFC Bank, TCS were among top BSE Sensex gainers. Axis Bank, Kotak Mahindra Bank, Asian Paints, Housing Development Finance Corporation (HDFC), Maruti Suzuki were among the top index losers. About 1915 shares have advanced, 984 shares declined, and 158 shares are unchanged. The Nifty Metal index gained 2.7 percent. This was followed by the Nifty PSU Bank index up 2.3 percent and the Nifty Bank index up 1.4 percent. The S&P BSE MidCap index added 1 percent today while the SmallCap index surged 1.5 percent.

MARKET UPDATE:Sensex up 162 points at 48,549 levels, and Nifty hovered around 14,522 levels

Tuesday, April 27, 2021
Following the weak trend in Asian markets, Indian equity indices started higher today(27th April 2021) amid a healthy buying in metal, realty, and pharma counters. Among key indices, the benchmark S&P BSE Sensex quoted at 48,549 levels, up 162 points, in morning deals. Tech M, Bajaj Finance, Reliance Industries, and Power Grid were the top gainers on the Sensex while Kotak Mahindra Bank, Axis Bank, Asian Paints, and HDFC were leading the list of losers. On the NSE, the Nifty50 hovered around 14,522 levels. Individually, Tech Mahindra gained 1.7 percent on the BSE after the IT major on Monday reported a net profit of Rs 1,081 crore for the fourth quarter ended March 31, 2021, up 34.6 percent year-on-year (YoY). On a sequential basis, the figure was down 17.4 percent from Rs 1,309.8 crore. SBI Card, meanwhile, rallied 1.3 percent on a net profit of Rs 175 crore in the March quarter of FY21, up 110 percent compared to Rs 84 crore in the same period last year. Read more

India’s double-digit growth forecast in risk

Monday, April 26, 2021
Fifteen days back, the International Monetary Fund upgraded India’s economic growth forecast to 12.5% -- the quickest rate among major economies. Now, as Covid-19 cases surge the most globally, that bullish view is looking increasingly in doubt. In Delhi, India’s political capital, the streets are mostly empty and the markets nearly deserted with almost all shops closed in response to curbs put in place by the local administration to fight the pandemic. The scene is not so different in Mumbai, the financial hub. Aimed at controlling the COVID-19 spike, the Karnataka government today announced "close down" across the state for 14 days from Tuesday(27th April 2021) night. High-frequency data are already pointing to a deepening contraction in retail activity in the week through April 18 relative to its pre-pandemic January 2020 level, said a Bloomberg Economist. That’s a key risk for an economy where consumption makes up some 60% of gross domestic product.

Financials lift Sensex 508 pts up

Monday, April 26, 2021
Today's(26th April 2021) rally across the financial sector is mainly driven by a healthy management commentary by ICICI Bank, post its March quarter results announcement. Add to it, positive investment sentiment in the global markets helped the benchmark S&P BSE Sensex and the Nifty50 indices vault over 1 percent. That apart, medical support from across the globe, to help India douse the Covid-19 fire, along with the acceleration of the mass vaccination drive supported sentiment on Dalal Street. Among the key headline indices, the 30-share index jumped 508 points to end the day at 48,386.5 levels. The index had started gap-up and had extended gains to hit a high of 48,668 in the intra-day deals. Read more

Karnataka Government announces Close down for 14 days from tomorrow 9 Pm

Monday, April 26, 2021
Karnataka Chief Minister BS Yediyurappa on April 26 announced "close down" across the state for 14 days from Tuesday night from 9 PM aimed at controlling the COVID-19 spike. All essential shops will be functioning from 6 am to 10 am, after which all shops will close. "Only construction, agriculture sectors, Medical sector and manufacturing sector except garments allowed. Public transport to remain shut", said Karnataka CM. The state cabinet also decided to provide COVID-19 vaccinations free of cost at government hospitals for those between 18-45 years of age. The health department will draw the guidelines required.

Closing Bell: Sensex gains 508 points, Nifty at 14485.00

Monday, April 26, 2021
At close, the Sensex was up 508.06 points or 1.06% at 48386.51, and the Nifty was up 143.60 points or 1.00% at 14485 due to medical support from across the globe, to help India douse the Covid-19 fire, along with the acceleration of the mass vaccination drive supported sentiment on Dalal Street. Axis Bank, Ultratech Cement, and ICICI Bank were the top-performing stocks on the BSE Sensex. HCL Technologies, Sun Pharma, HDFC Bank, and Maruti Suzuki India were the top losers. About 1841 shares have advanced, 1094 shares declined, and 216 shares are unchanged. Nifty Pharma was down 0.87 percent. On the contrary, the Nifty Realty index gained 3.4 percent on the NSE, followed by gains in The Nifty Metal index up 2 percent, Nifty Bank up 1.7 percent, and Nifty Financial Services up 1.3 percent..The S&P BSE MidCap index closed 0.6 percent higher while the BSE SmallCap index was up 0.8 percent. .

Sensex ruling 730 points up at 48,600 levels and Nifty jumped 190 points,hovering above 14,500 mark

Monday, April 26, 2021
Indian benchmark indices opened higher in today's(26th April 2021) session, tracking firm cues from global peers, even as India continued to report over 3 lakh Covid-19 cases. The BSE barometer Sensex was ruling 730 points up at 48,600 levels while NSE Nifty jumped 190 points and was hovering above14,500 mark. ICICI Bank, Axis Bank, ONGC, UltraTech, and SBI were among the top Sensex gainers while HCL Technologies, Power Grid, and DRL were among the top drags. Broader markets traded in tandem with benchmark indices with Nifty Midcap and Nifty Smallcap indices up 1 percent each. On the sectoral front, barring Nifty Pharma, all indices traded in the green. Nifty Bank with a gain of nearly 2 percent was the best performing index. Tech M, SBI Card, and HDFC Life are among the 15 companies that are scheduled to announce their quarterly numbers today. Read more

Nazara Technologies shares rally 9% as Company reported 84% revenue growth in FY21

Friday, April 23, 2021
The gaming company Nazara Technologies shares gained 9% after the company said that its consolidated revenue in the fiscal year 2021 rose sharply by 84 percent to Rs 454.2 crore led by gamified learning and eSports segments. The company had reported a revenue of Rs 247.5 crore in FY20. The company expressed confidence that it will continue to drive profitable growth. Gamified learning and e-sports segments have not only demonstrated strong growth momentum in FY21 but have also laid the foundation for predictable growth on account of proven user engagement and retention KPIs in gamified learning and multi-year media licensing and game publisher agreements in case of e-sports," it added. The gamified learning segment registered 820 percent growth in revenue, growing from Rs 19.1 crore in FY20 to Rs 175.8 crore in FY21. Similarly, e-sports segment revenue more than doubled to Rs 170.1 crore in FY21, from Rs 84.2 crore in the previous fiscal. Read more

Zydus gets emergency nod for ‘Virafin’ for COVID-19 treatment

Friday, April 23, 2021
Zydus Cadila(Pharma company) today (23rd April 2021) received restricted Emergency use approval from India’s drug regulator for the use of Virafin, Pegylated Interferon alpha-2b (PegIFN) in treating moderate Covid-19 infection in adults. When administered early on during Covid, Virafin will help patients recover faster and avoid much of the complications, the company said in a statement. Virafin will be available on the prescription of a medical specialist for use in a hospital setup. “A single dose subcutaneous regimen of the antiviral Virafin will make the treatment more convenient for the patients,” the company said. In its Phase III clinical trials, the therapy had shown better clinical improvement in the patients suffering from Covid-19. "The drug ensures faster viral clearance and has several add-on advantages compared to other anti-viral agents”.

Closing Bell: Sensex down 202 points, Nifty at 14341.35

Friday, April 23, 2021
At Close, Market benchmark the Sensex closed 202 points, or 0.42 percent, lower at 47,878.45 while the Nifty closed 65 points, or 0.45 percent, down at 14,341.35 as concerns over the second wave of Covid-19 in the country and nervousness in the global markets overpowered the risk appetite of bargain hunters. NTPC, Power Grid, and IndusInd Bank were the top index gainers. Mahindra & Mahindra, Dr. Reddy’s, and ICICI Bank were among the top losers. The BSE Power index gained 2.35 percent, the utility index rose 1.75 percent, BSE Telecom and realty fell over a percent each while FMCG, IT, fell almost a percent each. The S&P BSE MidCap index gained 0.2 per cent today while the S&P BSE SmallCap index added 0.5 per cent

Indian Industrial gas maker shares jump amid shortage of life-saving oxygen

Friday, April 23, 2021
India recorded 314,835 new infections yesterday (22nd April 2021), the world’s biggest one-day jump, and taking its case count to almost 16 million, the second-most globally. Supplies of medical oxygen, essential in many cases to treat seriously ill patients, have been depleted as hospitals around India have been overwhelmed by Covid-19 cases. An acute shortage of medical oxygen in India, amid a deadly wave of coronavirus infections, has triggered a surge in stocks seen linked to industrial gases. Oxygen manufacturer Linde India Ltd. has gained more than 90% so far this year, while National Oxygen Ltd. has advanced 59%.

MARKET UPDATE:Sensex down 270 points at 47,812 levels and Nifty hovering below 14,350 levels

Friday, April 23, 2021
Equity markets in India were under pressure today(23rd April 2021) amid muted investment sentiment across Asian markets and on a record single-day spike of over 3 lakh Covid-19 cases for the second consecutive day. Among the headline indices, the S&P BSE Sensex was at 47,812 levels in early deals, down 270 points or 0.56 percent. On the NSE, the Nifty50 was hovering below 14,350 levels. Power Grid was the top gainer on the Nifty, up 4 percent, followed by Tata Steel, SBI Life, Dr. Reddy's Labs, and Asian Paints. On the downside, Wipro, ICICI Bank, Bajaj Finance, Hero MotoCorp, and State Bank of India were the top laggards in morning deals. In the broader markets, the S&P BSE MidCap index was up 0.59 percent while the S&P BSE SmallCap index gained 0.72 percent. Sectorally, only Nifty Metal, Pharma, and Media indices were trading in the green, up between 0.3 percent and 1 percent. On the contrary, the Nifty Financial Services index slipped 0.7 percent. Read more

India's midcap rally amid Covid may be poised for a break

Thursday, April 22, 2021
The outperformance of India’s midcap stocks over the larger stocks since the coronavirus pandemic engulfed global markets may take a breather. Some Fund managers are currently avoiding midcaps based on global economic cues and valuations. They said there is more safety in buying large stocks now that India has become the epicenter of virus resurgence in Asia, while inflation is set to rise in the U.S. and China as the world’s two biggest economies are rebounding. The S&P BSE Midcap Index has outperformed the benchmark S&P BSE Sensex Index in all but five months since the end of 2019, according to data compiled by Bloomberg. The smaller stock measure has gained nearly 33% in that span, more than double the rise in the broader benchmark, with the outperformance becoming particularly pronounced amid the recent market chill. Read more

Sensex gains 375 pts, ends above 48K as investors dump FMCG for financials

Thursday, April 22, 2021
Today (22nd April 2021) from the day's low of 47,204, the benchmark S&P BSE Sensex bounced back over 900 points to hit a high of 48,143 on the back of a brisk buying in financial and metal counters. Supportive global cues and expectations that the mass vaccination drive would help curtail the raging second Covid-19 wave in the country gave ammunition to the bulls. By the close, the Sensex was at 48,081 levels, up 375 points or 0.79 percent. The broader Nifty50, on the other hand, gained 255 points higher from the day's low to settle at 14,406, up 110 points or 0.77 percent. About 18 of the 30 constituents on the Sensex and 27 of the 50 constituents on the Nifty ended the day in the green with Wipro, ICICI Bank, JSW Steel, Tata Steel, HDFC, Bajaj Auto, and BPCL topping the charts on the latter. On the Sensex, HDFC Bank, Bajaj Finance, Kotak Mahindra Bank, and SBI were the additional gainers. All these stocks were up in the range of 2 percent to 3.5 percent. Read more

IRDAI imposes Rs25 lakh penalty on SBI General Insurance for non-compliance

Thursday, April 22, 2021
Insurance Regulatory and Development Authority (IRDAI) has imposed a penalty of Rs25.00 lakh on SBI General Insurance Co. Ltd., an unlisted subsidiary of State Bank of India for non-compliance with minimum obligations under Motor Third-Party Business as specified in IRDAI Regulation, 2015 for the financial year 2017-18. It has been imposed for violation of Section 32D of the Insurance Act, 1938, the State Bank of India said in a regulatory filing on Tuesday.SBI is an Indian multinational, public sector banking and financial services statutory body. As of 31 March 2021, the Government of India held a 57.63% stake while Life Insurance Corporation of India held a 9.25% stake in the bank. Shares of SBI Life Insurance Company Ltd ended at Rs.914 per piece up by Rs15.7 or 1.75% from its previous closing of Rs898.30 per piece on the BSE.

Closing Bell:Sensex gains 375 points, Nifty at 14406.15

Thursday, April 22, 2021
At close, the Sensex was up 374.87 points or 0.79% at 48080.67, and the Nifty was up 109.80 points or 0.77% at 14406.20 due to mass vaccination drive would help curtail the raging second Covid-19 wave in the country gave ammunition to the bulls. ICICI Bank, HDFC, and Bajaj Auto were among the top gainers followed by HDFC Bank. Titan, Tech Mahindra, and Asian Paints were among the drags. About 1737 shares have advanced, 1128 shares declined, and 159 shares are unchanged. Nifty Bank index up 2.5 percent, Nifty Financial Services, Private Bank, and Metal indices gained 2.2 percent, 1.8 percent, and 1.7 percent, respectively. On the contrary, pharma and IT stocks pared their gains and ended in the red today. All the three defensive indices -- Nifty IT, FMCG, and Pharma -- slipped up to 0.75 percent on the NSE. The S&P BSE MidCap and SmallCap indices closing 0.28 percent and 0.59 percent higher, respectively.

MARKET UPDATE:Sensex down 250 points at 47,462 levels and Nifty hovering around 14,250 levels

Thursday, April 22, 2021
Indian equity markets opened gap-down today (22nd April 2021) as a record single-day spike of over three lakh Covid-19 cases kept investor sentiment at bay. However, buying at lower levels in IT and metal counters helped indices stage mild recovery. The benchmark S&P BSE Sensex was quoting at 47,462levels, down 250 points or 0.5 percent. On the NSE, the Nifty50 was hovering around 14,250 levels, down 56 points. Ultratech Cement, Shree Cement, IndusInd Bank, Axis Bank, Hero MotoCorp, and NTPC, down up to 3.5 percent, were leading the list of losers on the Nifty while Bajaj Auto, Dr. Reddy's Labs, Wipro, BPCL, and Tata Steel outperformed the market and gained between 1.5 percent and 3.5 percent. In the broader markets, the S&P BSE MidCap index slipped 0.13 percent while the S&P BSE SmallCap index gained 0.3 percent. Read more

Covid second wave may not dent FY22 earnings: Analysts

Tuesday, April 20, 2021
Despite the sharp rise in Covid cases and the ensuing lockdown imposed in some important cities across India that can dent the economic momentum, analysts remain optimistic on the earnings trajectory of India Inc and have not yet downgraded / cut projections for fiscal 2021-22 (FY22). “Corporate earnings are yet to come back to their pre-Covid levels in realistic terms even though they may look optically higher due to the low base effect of the last year. Despite the recent lockdown measures, the companies engaged in essential services continue to run. The curbs can, at best, slow the earnings growth for a couple of months. I do not see any major impact on FY22 numbers at an aggregate level as of now,” say experts. Read more

Shares of Mukand scaled a 13-year high

Tuesday, April 20, 2021
Shares of Mukand scaled a 13-year high of Rs 118.80, up 7 percent, on the BSE in intra-day trade today(20th April 2021). In the past five trading days, the stock has rallied 39 percent after the rating agency Acuité Ratings & Research Limited (“ACUITE”) upgraded the ratings of various credit facilities and exposures of the company with a 'stable outlook. Since March 23, the stock of the company engaged in the specialty steel business has zoomed 113 percent from the level of Rs 55.80, as compared to a 3.7 percent decline in the S&P BSE Sensex. It is trading at its highest level since January 2008. Acuite in its rating rationale said the rating upgrade and revision in the outlook from ‘Negative’ to ‘Stable’ are driven by the company’s significant progress inland parcel monetisation and disinvestment in a joint venture company while utilising the proceeds to repay the outstanding debt from lenders and group companies, thereby improving the financial risk profile of the company.

Pharma index hits record high as govt launches phase 3 of Covid vaccination

Tuesday, April 20, 2021
Shares of pharmaceutical companies are in demand with Nifty Pharma and the S&P BSE Healthcare indices gaining 2 per cent each and hitting their respective all-time highs on Tuesday as a significant resurge in Covid-19 cases across India led to a spike in demand for Covid-related drugs. Shares of Cadila Healthcare up 6.17 per cent, Dr Reddy's Laboratories up 4.58 per cent, Aurobindo Pharma up 3.42 per cent, Lupin up 3.1 per cent and Sun Pharmaceutical Industries up 1.97 per cent were among the top gainers. Sun Pharmaceutical Industries, Cadila Healthcare, Glenmark Pharmaceuticals, Panacea Biotech and RPG Lifesicenes are among those that hit 52-week highs in the intra-day trade today.Dr Reddy's stock is in focus after the company said it is going to roll out the Sputnik V COVID-19 vaccine by May-end or early June. Read more

Closing Bell:Sensex down 243 points, Nifty at 14296.40

Tuesday, April 20, 2021
At close, the Sensex was down 243.62 points or 0.51% at 47,705.80, and the Nifty was down 63.10 points or 0.44% at 14,296.40. Ultratech Cement, HDFC, HDFC Bank, and IT stocks were among the top drags on Sensex. Dr Reddy’s, HDFC Life, Bajaj Finance, Bajaj Auto and Bajaj Finserv were the top gainers on Sensex. About 1603 shares have advanced, 1187 shares declined, and 155 shares are unchanged. The Nifty IT index, down 1.4 per cent, the Nifty FMCG and Bank indices ended 0.64 per cent and 0.35 per cent lower, respectively. On the upside, the Nifty Pharma index ended at 1.3 per cent. The S&P BSE MidCap and SmallCap indices gained 0.5 per cent each.

MARKET UPDATE:Sensex traded around 48,230 levels, up 230 points, and Nifty hovered around 14,450

Tuesday, April 20, 2021
The benchmark indices in Indian markets climbed off the early highs but were still trading half a percent up in today's(20th April 2021) morning deals as the Indian government's decision to vaccinate everyone above 18 years of age against Covid-19 from May 1 buoyed investor sentiment. The S&P BSE Sensex traded around 48,230 levels, up 230 points, and the Nifty50 index hovered around 14,450. Bajaj Finance, Dr. Reddy's, Mahindra & Mahindra, and Bajaj Finserv gained 3 percent, each, and were the top Sensex gainers. All the Nifty sectoral indices traded in the green, led by the Nifty PSU Bank index, up 1.7 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices traded 1.7 percent higher, each. A total of nine companies, including Nestle India, Tata Steel Long Products, and Welspun Investments and Commercials are scheduled to release their quarterly earnings today. Read more

New double mutation variant is fueling India’s deadlier new wave of COVID-19 cases

Monday, April 19, 2021
The public health experts worry that a new -- possibly more virulent -- coronavirus variant could be racing through the Indian population. The new variant, which has a so-called double mutation, is thought to be fueling India’s deadlier new wave of cases that have made it the world’s second worst-hit country, surpassing Brazil again, and has already begun to overwhelm its hospitals and crematoriums. India has reported more than 14.5 million Covid cases so far and more than 175,600 fatalities. R“This is a variant of interest we are following,” Maria Van Kerkhove, the World Health Organization’s technical lead officer on Covid, told reporters Friday. “Having two of these mutations, which have been seen in other variants around the world, are concerning,” she said, adding that there was a similarity with mutations that increase transmission as well as reduce neutralization, possibly stunting the ability of vaccines to curb them. Read more

Manic Monday! Major factors for the stock market crash today

Monday, April 19, 2021
The Indian benchmark indices nosedived in today's(19th April 2021) session mainly due to a strong second wave of Covid-19 in the country, leaving the market bulls battered. An across-the-board selling resulted in a 1,469-point crash on the BSE barometer Sensex in intra-day trade. The index, however, recouped some losses and ended 883 points lower at 47,949 with HDFC twins, Reliance Industries, and select banking counters among the worst drags. Barring shares of Dr. Reddy's Labs and Infosys, all constituents of the 30-pack index traded in the red. Meanwhile, its NSE counterpart Nifty after shedding as much as 425 points ended with a 258-point cut at 14,359. High volatility marked today's session with India VIX settling 10.20 percent higher at 22.48. The sell-off was equally bad in the broader markets as mid-cap and small-cap indices lost 2.1 - 2.4 percent lower. Except for Nifty pharma, all indices on NSE traded in the red. Read more

Closing Bell: Sensex down 882 points, Nifty at 14359.45

Monday, April 19, 2021
At close, the Sensex was down 882.61 points or 1.81% at 47949.42, and the Nifty was down 258.40 points or 1.77% at 14359.50. Britannia, Dr Reddy's Labs, Infosys, Wipro, and Cipla were the only gainers on the Nifty index, On the downside, Adani Ports, Power Grid, ONGC, Hero MotoCorp, IndusInd Bank, Bajaj Finserv, Kotak Mahindra Bank, and HDFC Life were the top drags, About 723 shares have advanced, 2091 shares declined, and 157 shares are unchanged. The Nifty PSU Bank, Nifty Bank, Nifty Private Bank, and Nifty Financial Services indices slipped between 2.5 per cent and 4 per cent. The Nifty Auto, Realty, and Metal indices, meanwhile, tumbled up to 4 per cent. The S&P BSE MidCap and SmallCap indices declined 1.9 per cent and 1.6 per cent, respectively.

Sensex tumbles 1,300 pts, Nifty below 14,300

Monday, April 19, 2021
The Indian benchmark indices slid over 2 percent in today's(19th April 2021) early deals as India continued to report a record spike in daily Covid-19 cases. India recorded over 2.75 lakh new Covid cases in the last 24 hours, as per Worldometer. The S&P BSE Sensex traded around 47,490 levels, down 1,300 points, and the Nifty50 index fell below the 14,300-mark. IndusInd Bank fell 5 percent and was the top Sensex laggard, followed by State Bank of India, Bajaj Auto, Bajaj Fiannce, and ICICI Bank (down 4% each). The Nifty sectoral indices were painted red, with the Nifty PSU Bank index, down 4.7 percent, bleeding the most. In the broader markets, the S&P BSE MidCap and SmallCap indices fell 2.8 percent, each. ACC, ICICI Prudential Life Insurance Company, Bajaj Consumer Care, CRISIL, Agio Paper & Industries, Pratik Panels, Response Informatics, and Sri Chakra Cement will release quarterly numbers on Monday. Read more

Wipro surges 8% touches 52 week post March results

Friday, April 16, 2021
Shares of Wipro rallied 10 per cent to Rs 473 and touched 52 weeks high on the BSE in intra-day trade on Friday after the company reported a healthy IT services revenue growth and margins in the March quarter (Q4FY21) in the last 10 years. The company’s consolidated net profit grew 27.78 per cent year-on-year (YoY) at Rs 2,972 crore, as against Rs 2,326 crore posted in the same period last year. On a quarter-on-quarter (QoQ) basis, the profit increased marginally by 0.14 per cent, compared to Rs 2,968 crore reported in the December quarter of FY21. Its consolidated revenue from operations climbed 3.4 per cent YoY, 3.67 per cent QoQ to Rs 16,245 crore in the recently concluded quarter. Wipro also said that the interim dividend of Re 1 which was announced in January this year, will be considered as the final dividend for the financial year 2020-21.

Closing Bell: Sensex ends flat up 28.35 points, Nifty at 14617.85

Friday, April 16, 2021
At close, the Sensex was up 28.35 points or 0.06% at 48,832.03, and the Nifty was up 36.40 points or 0.25% at 14,617.90. Asian Paints, UltraTech Cement, ONGC, Sun Pharma, HCL Tech, Nestle India, M&M, Tech Mahindra were among the top index gainers. On the flip side, ICICI Bank, Bajaj Finance, Larsen & Toubro (L&T), Tata Consultancy Services (TCS), and SBI were the top Sensex losers. About 1617 shares have advanced, 1230 shares declined, and 152 shares are unchanged. The Nifty Pharma index ended 2 per cent higher while the Nifty Auto, IT, Metal, and FMCG gained between 0.6 per cent and 1.2 per cent. On the downside, the Nifty Bank, PSU Bank, and Realty indices slipped up to 0.6 per cent. The S&P BSE MidCap and SmallCap indices settling 1.2 per cent and 1.05 per cent higher, respectively.

MARKET UPDATE:Sensex rose 180 points around 49,000 level and Nifty topped the 14,650-mark

Friday, April 16, 2021
The benchmark indices in India ticked nearly half a percent up in today's(16th February 2021) morning deals, tracking mixed cues from their Asian peers. The S&P BSE Sensex rose 180 points around 49,000 level and the broader Nifty50 index topped the 14,650-mark. Asian Paints, HCL Tech, UltraTech Cement were up 1 percent, each, and were the top Sensex gainers. The Nifty sectoral indices, barring the Nifty Pharma index, traded in the green, led by the Nifty IT index, up 0.8 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices traded 1.2 percent higher, each. Mindtree, Den Networks, GTPL Hathway, MMTC, and AAR Commercial Company are scheduled to release quarterly numbers today.

Foreign brokerages modify return expectation from Indian equities

Thursday, April 15, 2021
Foreign brokerages trim their return expectation from Indian equities over the next 12 months due to the sudden rise in Covid cases and the micro-lockdowns imposed across key economic hubs in India. After Nomura that recently cut its March 2022 Nifty50 target to 15,340 (earlier target: 14,680 by December 2021), analysts at Goldman Sachs, too, have tempered their expectations, albeit modestly. They now see the Nifty at 16,300 levels in 12 months (16,500 earlier). However, they have retained their ‘overweight’ stance on India for now. With the new Covid-19 cases in India surging to a record high and a host of states announcing stricter lockdown restrictions, investors, Goldman Sachs said, are concerned about the risks to macro and earnings recovery. Despite the near-term headwinds, they expect the recovery to resume from Q3 onwards as restrictions normalise, vaccination pace accelerates and the global growth backdrop remains supportive.

Infosys shares down 6% after March quarter results

Thursday, April 15, 2021
Shares of Infosys were down 6 per cent at Rs 1,320 on the BSE in intra-day trade on Thursday a day after the IT giant posted a 17 per cent year-on-year growth in net profit at Rs 5,076 crore for the March quarter of the financial year 2020-21 (Q4FY21) as against Rs 4,321 crore posted in the same period last fiscal. Also on account of profit booking and in the overnight trade, Infosys ADR plunged 6 per cent to $1731 per share. Consolidated revenue from operations grew by 1.5 per cent sequentially to Rs 26,311 crore, while consolidated revenue in constant currency grew by 2 per cent and the topline growth in dollar terms was at 2.8 per cent quarter-on-quarters. Infosys’ board has also approved a Rs 9,200 crore buyback of equity shares from the open market. The company will buy back shares at a maximum of Rs 1,750 apiece, a premium of 25% on the current market price of Rs 1,398 apiece and also recommended a final dividend of Rs 15 per equity share.

Closing Bell:Sensex gains 260 points, Nifty at 14581.45

Thursday, April 15, 2021
At close, the Sensex was up 259.62 points or 0.53% at 48803.68, and the Nifty was up 76.70 points or 0.53% at 14581.50. ONGC, NTPC, Kotak Mahindra Bank, State Bank of India (SBI), Housing Development Finance Corporation (HDFC) were among top Sensex gainers. Infosys, M&M, IndusInd Bank, Maruti Suzuki, Bajaj Finance, Bajaj Finserv, Tech Mahindra were among the top index losers. About 1226 shares have advanced, 1611 shares declined, and 162 shares are unchanged. The Nifty Bank, Pharma, Metal, IT, Financial Services, and Private Bank indices ended up to 1.4 per cent higher while the Nifty Auto, Realty, PSU Bank, and FMCG slipped between 0.04 per cent and 1.5 per cent. The S&P BSE MidCap and SmallCap indices ended 0.1 per cent and 0.03 per cent lower.

India records highest ever single-day spike with 200,739 Covid-19 cases

Thursday, April 15, 2021
The number of new coronavirus cases in India hit a record daily high with over 200,000 infections being reported in a day, while the active cases surpassed the 14- lakh mark, as per the Union Health Ministry data updated today(15th April 2021). With the new cases, the total tally of Covid-19 cases in the country rose to 14,074,564. A total of 200,739 new Covid-19 cases have been registered in a span of 24 hours, while the death toll increased to 173,123 with 1,038 daily new fatalities, the highest sinceOctober3,2020, the data updated at 8 am showed. Registering a steady increase for the 36th day in a row, the active cases have increased to 1,471,877 comprising 10.46 percent of the total infections, while the national Covid-19 recovery rate has dropped to 88.31 percent. Read more

MARKET UPDATE:Sensex hovered around 48,230 levels, down 300 points and Nifty gave up the 14,450-mark

Thursday, April 15, 2021
The benchmark indices in India slid over half a percent in today's (15th April 2021) morning's volatile session, dragged by public sector banks, IT, and auto stocks, as India recorded over 2 lakh fresh Covid-19 cases in the last 24 hours. The S&P BSE Sensex hovered around 48,230 levels, down 300 points and the Nifty50 index gave up the 14,450-mark. Infosys fell 5 percent after the announcement of its March quarter results and was the top Sensex laggard, followed by Mahindra & Mahindra, and IndusInd Bank (both down 3%). On the other hand, ONGC (up 3%) was the top Sensex gainer, followed by NTPC, State Bank of India, and UltraTech Cement (all up 1%). The Nifty sectoral indices were largely in the red, with Nifty Auto and Nifty PSU Bank index, down 2.5 percent, each. On the other hand, Nifty Pharma ticked up 1 percent. In the broader market, the S&P BSE MidCap and SmallCap indices traded 0.3 percent lower, each. Read more

IDBI Bank gains 11 per cent on divestment proposal

Tuesday, April 13, 2021
Shares of IDBI Bank jumped 10.6 per cent to hit an intra-day high of Rs 37.4 on the BSE on Tuesday after a Business Standard report stated that the Cabinet will soon consider the proposal to sell the government’s 45.5 per cent stake in the company, paving the way for strategic divestment in the lender. The cabinet approval will give the Department of Investment and Public Asset Management (DIPAM) the authority to move ahead with the divestment process,. The government had planned to sell its balance stake in IDBI Bank to private, retail, and institutional investors through the stock exchange in the last financial year. However, the pandemic delayed the plan, which the government intends to complete this year."DIPAM cannot move forward with the divestment process until approval from the cabinet is received, given that banks come under work allocation of the DFS. After the cabinet's approval, intermediaries can be appointed," an official told Business Standard.

Closing Bell:Sensex gains 660 points, Nifty at 14504.80

Tuesday, April 13, 2021
At close, the Sensex was up 660.68 points or 1.38% at 48,544.06, and the Nifty was up 194 points or 1.36% at 14,504.80 amid broad-based buying. Top Sensex gainer was Mahindra & Mahindra (M&M) followed by Bajaj Finsv, Bajaj Finance, Maruti Suzuki, IndusInd Bank, ICICI Bank and ONGC. While TCS was the worst-performing stock, followed by Dr Reddy’s, Tech Mahindra, HCL Tech, Infosys and Nestle India. About 1900 shares have advanced, 915 shares declined, and 176 shares are unchanged. Nifty IT and Pharma indices were down 3 per cent and 1 per cent. While the Nifty PSU Bank index surged 4 per cent, the Nifty Bank, Private Bank, Financial Services, Metal, and Realty indices gained between 3 per cent and 4 per cent. The Nifty FMCG index, meanwhile, ended 0.6 per cent higher. The S&P BSE MidCap index gained 1.46 per cent. The S&P BSE SmallCap index, on the other hand, ended 1.2 per cent higher.

Dr Reddys surges 5% as Sputnik V gets expert panel nod for emergency use

Monday, April 12, 2021
Shares of Dr Reddy’s Laboratories gained by 8 per cent to Rs 5,119.90 on the BSE in intra-day trade on Monday after Sputnik-V, the vaccine against the coronavirus disease (Covid-19), got the nod from the expert panel for emergency use in India. The Subject Expert Committee (SEC) advising the Drug Controller General of India (DCGI) has recommended Russia's Sputnik V for emergency use authorisation in India. This is the third vaccine approved by India after Covishield and Covaxin

Closing Bell:Sensex down 1708 points, Nifty at 14310.80

Monday, April 12, 2021
At close, the Sensex was down 1,707.94 points or 3.44% at 47883.38, and the Nifty was down 524.10 points or 3.53% at 14310.80 as fear of stricter lockdown to curb the second wave of COVID-19 dented investors’ sentiment. Tata Motors, Adani Ports, IndusInd Bank, Bajaj Finance, UPL, SBI, Hindalco, and Shree Cement were the top losers in the Sensex pack, while Dr Reddy's Labs, Cipla, Divis Labs, and Britannia) ended the day in the green. About 493 shares have advanced, 2433 shares declined, and 171 shares are unchanged. The Nifty PSU Bank index plummeted 9 per cent, Nifty Realty slipped 7 per cent, and Nifty Bank, Private Bank, Metal, and Auto indices skidded between 5 per cent and 6 per cent. The S&P BSE MidCap and SmallCap indices dropped 5 per cent each.

Johnson & Johnson set to begin its trial of single-dose vaccine in India

Friday, April 9, 2021
Johnson & Johnson is in talks with India's government to begin a clinical trial of its single-dose COVID-19 vaccine in the country, the company said on Friday. India is looking to ramp up its vaccine doses amidst high demand due to the second surge of coronavirus in the country, with several states saying they are running out of supplies. Top government sources told The Indian Express that J&J will soon conduct the trials, which could pave the way for its vaccine to be marketed in India. “Johnson & Johnson has sent a letter to the CDSCO (Central Drugs Standard Control Organisation) that they will very shortly apply for permission to conduct clinical bridging trials in India,” the sources said. A bridging study tests the safety and immunogenicity of a vaccine, and India has indicated that any vaccine maker must conduct such a trial for a shot to be considered for its immunisation programme.

Closing Bell:Sensex down 155 points, Nifty at 14834.85

Friday, April 9, 2021
At close, the Sensex was down 154.89 points or 0.31% at 49,591.32, and the Nifty was down 38.90 points or 0.26% at 14,834.90. ICICI Bank, HDFC Bank and Reliance Industries were among the stocks that pulled the indices lower. Sun Pharma, HUL, and Tech Mahindra were the top gainers on Sensex. About 1647 shares have advanced, 1212 shares declined, and 163 shares are unchanged. Bank Nifty ended in the red along with Nifty Private Bank, Nifty Auto and Nifty Metal index down 1 per cent. Nifty Pharma and Nifty PSU Bank were the top-performing sectoral indices. The S&P BSE SmallCap index closed 0.7 per cent higher while the S&P BSE MidCap index dipped 0.07 per cent.

MARKET UPDATE:Sensex up 120 points around 49,870 levels and Nifty hovered around 14,900

Friday, April 9, 2021
The benchmark indices in India fluctuated between gains and losses in today's(9th April 2021) late morning deals. The S&P BSE Sensex traded around 49,870 levels, up 120 points, and the Nifty50 index hovered around 14,900. Bajaj Finance, ICICI Bank, IndusInd Bank, and Larsen & Toubro dipped 1 percent, each, and were the top Sensex laggards. On the other hand, Hindustan Unilever and Sun Pharma rose 2 percent, each. The Nifty sectoral indices were trading mixed, with the Nifty PSU Bank index, up over 3 percent, leading the gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.4 percent and 0.9 percent higher, respectively.

Barbeque Nation shares locked in upper circuit for 2 day

Thursday, April 8, 2021
Shares of casual dining chain operator Barbeque Nation Hospitality on Thursday were locked in a 20 per cent upper circuit, for the second straight day, at Rs 708.45 on the BSE. Currently, the stock was up 42 per cent against its issue price of Rs 500 per share after a weak market debut, yesterday. On April 7, it made a weak start but immediately moved higher to trade with 20 per cent gains and closed at Rs 590.40 against the issue price of Rs 500 a share. Barbeque Nation Hospitality's ₹ 453-crore IPO was subscribed 5.98 times, according to data available on the stock exchanges. The strong presence in the Indian market positions the company well to capitalise on the growth in consumer spending from expected increases in the level of disposable income in India. The company would be spending around Rs 90 crore in the next two years to expand its restaurant (both ‘Barbeque Nation’ & ‘Toscano’) base in existing cities, ICICI Securities said.

Closing Bell: Sensex gains 84.45 points, Nifty at 14873.80

Thursday, April 8, 2021
At close, the Sensex was up 84.45 points or 0.17% at 49,746.21, and the Nifty was up 54.80 points or 0.37% at 14,873.80.JSW Steel, Tata Steel, Shree Cements, Titan Company and Hindalco were among top gainers on the Nifty, while losers included IndusInd Bank, SBI Life Insurance, Sun Pharma, HDFC Bank and ONGC. The Nifty Metal index jumped 4 per cent, the Nifty IT index gained 1 per cent. The Nifty PSU Bank and Bank indices shed 0.8 per cent and 0.6 per cent, respectively today while the Nifty Private Bank and Financial Services indices slipped 0.6 per cent and 0.3 per cent, respectively. The S&P BSE SmallCap index gained 0.73 per cent. The BSE MidCap index, on the other hand, up 0.6 per cent.

MARKET UPDATE:Sensex leaped 700 points at 49,900 and Nifty50 index jumped 200 points and hit 14,880-mark

Thursday, April 8, 2021
The Indian equity markets welcomed the decision of RBI governorShaktikanta Das to keep rates unchanged during the first bi-monthly monetary policy of FY22, along with holding the GDP growth rate steady at 10.5 percent for the new financial year. Despite the recent surge in Covid-19 cases, the governor said the central bank and the government are prepared to tackle the second wave. Soothed by the comments, the benchmark S&P BSE Sensex index leaped 700 points and hit the day's high of 49,900. The Nifty50, meanwhile, jumped nearly 200 points and hit 14,880 on the back of an across-the-board buying. Banking and financial stocks outperformed on Wednesday with the Nifty Bank, Private Bank, and PSU Bank indices settling higher in the range of 1.5 percent to 2 percent. The Nifty Financial Services, IT, Pharma, Metal, and Realty indices, on the other hand, gained up to 1.5 percent. Read more

RBI Monetary Policy highlights

Wednesday, April 7, 2021
Key factors of RBI Monetary Policy: 1) RBI Governor Shaktikanta Das said the repo rate at 4 per cent in the April policy and retained its accommodative stance for as long as necessary amid rising inflation and elevated inflation. 2)The marginal standing facility (MSF) rate and the bank rate remain unchanged at 4.25 per cent. The reverse repo rate stands unchanged at 3.35 per cent. 3) Fulfilled a long-standing demand of bond market participants of having an open market operations (OMO) calendar of sorts, through which the central bank would commit its periodic support to the market. 4)MPC maintained GDP growth estimate for FY22 at 10.5%, with risks equally balanced depending on the pace of the vaccination drive. 5)The RBI extended the deadline of TLTRO on the Tap Scheme till September 30, 2021. The scheme was announced on October 9, 2020, and was made available up to March 31, 2021. Read more

Closing Bell: Sensex gains 460 points, Nifty at 14819.05

Wednesday, April 7, 2021
At close, the Sensex was up 460.37 points or 0.94% at 49,661.76, and the Nifty was up 135.50 points or 0.92% at 14,819 after RBI as expected kept the key rates unchanged with an accommodative policy stance. SBI, Mahindra & Mahindra, Nestle India, IndusInd Bank, and ICICI Bank were the top gainers on Sensex while Titan, NTPC, HUL, and Bajaj Finserv were the only drags. About 1824 shares have advanced, 1072 shares declined, and 179 shares are unchanged. The Nifty Financial Services, IT, Pharma, Metal, and Realty indices, on the other hand, gained up to 1.5 per cent. The S&P BSE SmallCap index was last up 1.3 per cent while the BSE MidCap index added 0.8 per cent.

MARKET UPDATE:Sensex up 500 points at 49,730 and Nifty testing the 14,850-mark

Wednesday, April 7, 2021
The markets in India were trading at day's high, up 1 percent, in today's( late morning deals as the Reserve Bank of India kept the repo rate unchanged at 4 percent while maintaining the 'accommodative stance. The FY22 growth projection was also maintained at 10.5 percent. The S&P BSE Sensex traded 500 points, or 1 percent, up at 49,730 and the Nifty50 index was testing the 14,850-mark. Bharti Airtel, Nestle India, and Reliance Industries gained 2 percent, each, and were the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 2 percent.

Panacea Biotec surges 20% as company to make 100 mn Sputnik V doses yearly

Tuesday, April 6, 2021
Shares of Panacea Biotec were locked in the upper circuit of 20 per cent at Rs 220.85 on the BSE in Tuesday's session after the company and the Russian Direct Investment Fund (RDIF) agreed to produce 100 million doses of Sputnik V vaccine in India per year.Production of Sputnik V at Panacea Biotec sites will help facilitate the global supply of Sputnik V to international partners of RDIF, a joint statement said.Panacea Biotec will produce Sputnik V in its internationally accredited facilities complying to strict GMP standards and prequalified by the World Health Organization (WHO), he added. Efficacy of Sputnik V is 91.6 per cent as confirmed by the data published in the Lancet, one of the world's oldest and most respected medical journals," the release said.

Closing Bell:Sensex ends 42 points higher, Nifty at 14683.50

Tuesday, April 6, 2021
At close, the Sensex was up 42.07 points or 0.09% at 49,201.39, and the Nifty was up 45.70 points or 0.31% at 14,683.50. Asian Paints was the top Sensex gainer, followed by Sun Pharma and Dr Reddy’s. Power Grid, Ultratech Cement, IndusInd Bank, Axis Bank, and SBI were the worst-performing stocks on Sensex. About 1654 shares have advanced, 1176 shares declined, and 179 shares are unchanged. The Nifty Pharma up 2 per cent, FMCG 1 per cent, and Metal 1/5 per cent indices remained top gainers on the NSE today while the Nifty IT index was up 0.25 per cent. The Nifty Bank and private Bank indices, meanwhile, skidded around 0.4 per cent each ahead of the RBI monetary policy committee's outcome due tomorrow. The S&P BSE MidCap and SmallCap indices added 1 per cent and 0.8 per cent, respectively by the close.

MARKET UPDATE:Sensex up by 350 points to 49,520 and Nifty topped 14,650-mark

Tuesday, April 6, 2021
The benchmark indices in India rose over half a percent in early deals today(6th April 2021) after a volatile start to the session. The S&P BSE Sensex hovered around 49,520 levels, up 350 points. NTPC, Hindustan Unilever, Mahindra & Mahindra, and Dr. Reddy's climbed 1 percent, each, and were the top Sensex gainers. Meanwhile, the broader Nifty50 index topped 14,650-mark. Majority of the Nifty sectoral indices traded in the green, led by the Nifty Metal index, up 1.4 percent.

Record jump in the Covid-19 cases in the country is the major factor to the market crash today

Monday, April 5, 2021
The BSE barometer Sensex tanked 870 points or 1.74 percent to settle at 49,159 today(5th April 2021). The 30-pack index had declined as much as 1,449 points in intra-day trade to a low of 48,581. Banks, financials, Reliance Industries, and ITC were among the top Sensex drags. Meanwhile, NSE's flagship index Nifty50 shut shop at 14,638, down 230 points or 1.54 percent. The index had plummeted to 14,460 in intra-day today. A record jump in the Covid-19 cases in the country which led to lockdown-like restrictions in the economically important state of Maharashtra spooked market investors today. Besides, a weak macroeconomic print added fuel to the fire, further raising concerns about the pace and strength of the economic recovery. Read more

Closing Bell:Sensex down 871 points, Nifty at 14637.80

Monday, April 5, 2021
At close, the Sensex was down 870.51 points or 1.74% at 49,159.32, and the Nifty was down 229.60 points or 1.54% at 14,637.80. Infosys, Tech Mahindra, and HCL Technologies were the top gainers on Sensex, followed by Bharti Airtel. Bajaj Finance and IndusInd Bank were the top drags, followed by SBI. About 1063 shares have advanced, 1848 shares declined, and 180 shares are unchanged. The Nifty PSU Bank index declined 4 per cent on the NSE, while the Nifty Bank, Private Bank, Financial services, Realty, Auto, and Media indices slipped between 2.5 per cent and 3.5 per cent. On the contrary, the Nifty IT index jumped over 2 per cent and the Nifty Metal index gained 1 per cent. The S&P BSE MidCap and SmallCap indices closed 1.13 per cent and 1 per cent, respectively.

LG Electronics to end production, sales of its smartphone biz

Monday, April 5, 2021
South Korean LG Electronics Inc announced today(5th March 2021) that it will wind down its loss-making mobile division. Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brands, to be gobbled up by smartphone titans Apple Inc and Samsung Electronics. The division has logged nearly six years of losses totaling some $4.5 billion, and dropping out of the fiercely competitive sector would allow LG to focus on growth areas such as electric vehicle components, connected devices, and smart homes, it said in a statement. Read more

MARKET UPDATE:Sensex fell 400 points to 49,620 and Nifty gave up the 14,800-mark

Monday, April 5, 2021
The benchmark indices in India fell over half a percent in today's(5th March 2021) early deals amid worry over the rapidly increasing Covid-19 cases in the nation. The volatility index, India VIX, rose 6 percent to 21.2 levels. Among headline indices, the S&P BSE Sensex fell 400 points, or 0.8 percent, to 49,620 and the Nifty50 index gave up the 14,800-mark. Bajaj Finance, IndusInd Bank, and Bajaj Auto fell over 2 percent, each, and were the top Sensex laggards. The Nifty sectoral indices were largely in the red, with Nifty Bank, Nifty Financial Services, and Nifty Realty index falling over 1 percent, each. In the broader markets, the S&P BSE MidCap and SmallCap indices fell 0.4 percent and 0.6 percent, respectively.

Reliance Infra sells HQ in Mumbai's Santacruz to YES Bank

Thursday, April 1, 2021
Reliance Infrastructure Limited of Anil Ambani Group today sold its headquarters in Santa Cruz, Mumbai to YES Bank for Rs 1,200 crore. Yes Bank, which currently operates from Indiabulls Centre in Central Mumbai, will convert the building as its corporate headquarters. The entire proceeds from the sale of Reliance Centre, Santacruz will be utilised to repay the debt of YES Bank. The lender had an exposure of Rs 4,000 crore in the company. With this, Reliance Infra has sold three major assets since January this year, including the sale of Delhi Agra Toll Road to Cube Highways and the electricity transmission asset (Parbati Koldam Transmission Ltd) to Ingrid. With this deal, Yes Bank has reduced its exposure to Reliance Infra. by half to Rs 2,000 crore.

March GST collections at an all-time high

Thursday, April 1, 2021
The GST revenue collections in March 2021 at nearly Rs 1.24 trillion, were the highest since the tax system's introduction in July 2017, the government said today(1st April 2021). Also, the collections were up 27 percent when compared with the year-ago period. The government said that the GST revenues were above Rs 1 trillion for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post-pandemic. "Closer monitoring against fake-billing, deep data analytics using data from multiple sources including GST, Income-tax and Customs IT systems and effective tax administration have also contributed to the steady increase in tax revenue over last few months," it said. Of the total revenue collected, CGST is Rs 22,973 crore, SGST is Rs 29,329 crore, IGST is Rs 62,842 crore (including Rs 31,097 crore collected on import of goods) and Cess is Rs 8,757 crore (including Rs 935 crore collected on import of goods). Read more

NIIT surges 19.98 per cent after firm anounces buyback of shares

Thursday, April 1, 2021
Shares of skills and talent development firm NIIT Ltd surged 19.98 per cent to Rs 165.45 on the BSE in intra-day trade on Thursday after the company announced that its buyback offer would open on April 12, 2021, and the closing date has been set for April 28, 2021. On December 24, 2020, NIIT Ltd's Board of Directors had approved a proposal for buyback of up to 9,875,000 equity shares for an aggregate amount not exceeding Rs 237 crore. The buyback price has been fixed at Rs 240 apiece. In accordance with the SEBI (Buy-Back of Securities) Regulations, 2018, the company will dispatch the letter of offer for the buyback to eligible shareholders, appearing on the record date of February 24, 2021, on or before April 5, 2021. NIIT offers training and development solutions to individuals, enterprises and institutions. NIIT has two main lines of business across the globe - corporate learning group and skills & careers business.

Closing Bell:Sensex gains 521 points, Nifty at 14867.35

Thursday, April 1, 2021
At close, the Sensex was up 520.68 points or 1.05% at 50,029.83, and the Nifty was up 176.70 points or 1.20% at 14,867.40. Top BSE Sensex gainers were HCL Tech, Maruti Suzuki, NTPC, Bajaj-Auto, Titan Company, IndusInd Bank, Infosys and Reliance Industries Ltd (RIL). On the flip side, the stocks of Nestle India and HDFC Bank were trading in the negative territory. About 2120 shares have advanced, 727 shares declined, and 143 shares are unchanged.The Nifty Metal index settled over 5 per cent higher on the NSE today, followed by the Nifty PSU bank index, up 2.6 per cent. The Nifty Bank, Auto, Financial Services, Private Bank, and Pharma indices, meanwhile, gained up to 2 per cent. The Nifty IT and Realty indices closed with less than a per cent gain. The BSE MidCap and SmallCap indices gained 1.66 per cent and 2 per cent

MARKET UPDATE:Sensex up 300 points at 49,820 levels and Nifty topped the 14,750-mark

Thursday, April 1, 2021
The markets in India began the FY22 on a firm note, with the benchmark indices trading over half a per cent in Thursday's morning deals, on the back of favourable global cues. Among the headline indices, the S&P BSE Sensex was up 300 points at 49,820 levels and the Nifty50 index topped the 14,750-mark. HCL Tech, IndusInd Bank, and Titan rose 2 per cent each and were the top Sensex gainers. All the Nifty sectoral indices, barring the Nifty Realty index, were trading in the green. Nifty Auto, Nifty IT, and Nifty PSU Bank indexes were up 1 per cent, each. The broader markets, meanwhile, outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.8 per cent and 1.2 per cent higher, respectively.

Market outlook and Targets for Sensex, Nifty etc. for FY22

Wednesday, March 31, 2021
Despite the ups and downs over the past one week, markets are set to register their best financial year performance in a decade. Thus far in FY21, the S&P BSE Sensex and Nifty50 have rallied 66 percent and 69 percent, respectively. Meanwhile, the gains in mid-and small-caps have been sharper with both the indices rallying 111 percent and 89 percent, respectively on the BSE. The rally has been partly on account of strong foreign inflows on the expectation of improvement in the economy after a stringent pandemic-triggered lockdown for a few months in FY21. Accommodative monetary policies of global central banks, especially the US, ensured emerging markets, including India, remained flushed with funds all through the year. During the year, foreign portfolio investors (FPIs) pumped in a record $37 billion (Rs 2.74 trillion) into equities (up to March 26), which is the highest since FY13, data from the National Securities Depository Limited (NSDL) show. Read more

Biden's massive once-in-a-century investment plan to transform US' infrastructure

Wednesday, March 31, 2021
US President Joe Biden is going to announce a massive USD 2 trillion plan today (31st March 2021) to transform America's aging infrastructure, and position the country to out-compete China, according to officials. The American Jobs Plan, to be announced by Biden in Pittsburgh, Pennsylvania, will create millions of good-paying jobs and rebuild the US infrastructure. This is a once-in-a-century capital investment in America, according to officials. It will also position the United States to out-compete China, they said. By investing about USD 2 trillion over the next eight years, we can transform our current and future infrastructure and fundamentally change life for Americans, officials said ahead of the presidential visit to Pittsburgh. If passed alongside President Biden's Made in America corporate tax plan, the plan would be fully paid for within the next 15 years and reduce deficits in the years after. Read more

RBI extends timeline for auto debit

Wednesday, March 31, 2021
The Reserve Bank of India (RBI) on Wednesday extended the deadline for e-mandate for recurring payments of online transactions by six months till September 30, 2021, The deadline was set to expire on March 31. The central bank decided to extend the deadline as the framework is not fully implemented by banks and to prevent any inconvenience to the customers because of lack of preparedness by the system, the RBI said. This comes after banks started informing customers about cancelling the service of e-mandates for auto-debit of funds from cards. Leading private banks have started sending messages to their customers that they will have to transact on their own for services they want to avail, instead of banks deducting the fee automatically on their behalf as banks, as well as other stakeholders, had not readied their systems to comply with the new framework.

Closing Bell:Sensex down 627 points, Nifty at 14690.70

Wednesday, March 31, 2021
At close, the Sensex was down 627.43 points or 1.25% at 49,509.15, and the Nifty was down 154.40 points or 1.04% at 14,690.70. HDFC Bank, HDFC, Power Grid, Tech Mahindra, ONGC, ICICI Bank, Infosys, and Bajaj Finance were the top losers in the Sensex pack. While Bajaj Finserv, ITC, SBI, HUL, Tata Motors, UPL, and Grasim were top gainers in the Sensex pack. About 1362 shares have advanced, 1470 shares declined, and 190 shares are unchanged. Among sectors, IT, bank, energy and infra sectors fell 0.4-1.7 per cent, while the PSU Bank index added over a per cent. The S&P BSE MidCap index ended 0.07 per cent higher while the S&P BSE SmallCap index advanced 0.52 per cent.

MARKET UPDATE:Sensex fell 300 points to 49,830 levels and Nifty gave up the 14,800-mark

Wednesday, March 31, 2021
The benchmark indices in India fell over half a percent in early deals of the last trading day of the financial year 2020-21 (FY21), amid mixed global cues. The S&P BSE Sensex fell 300 points to 49,830 levels and the broader Nifty50 index gave up the 14,800-mark. HDFC twins (HDFC and HDFC Bank) were the top Sensex laggards, both down over 2 percent, followed by PowerGrid, ICICI Bank, and Tech Mahindra (down over 1%) each. All the Nifty sectoral indices, barring the Nifty Pharma index, slipped into the red, with the Nifty IT index, down 1 percent. Meanwhile, the broader markets outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.2 percent higher, each.

Sensex leaps in spite of the continued threat of increasing Covid-19 cases

Tuesday, March 30, 2021
Buying in consumer-focused and energy stocks today(30th March 2021) lifted benchmark indices in spite of the continued threat of increasing Covid-19 cases and rising bond yields put pressure on investors. Indian markets also appear to be unscathed from a hedge fund blowup in the US. A sharp decline in FII selling coupled with large buying by DIIs can support the market and even take it higher, said an analyst. The major factors for the rally in the markets are: 1. Fed remains dovish: The Federal Reserve is "a long way from raising interest rates at this point", Governor Christopher Waller said on Monday, reinforcing hopes that the central bank is ready to remain dovish as long as virus woes linger. 2. Factory activity in China: China's factory activity was expected to have grown at a faster pace in March, a Reuters poll showed. Read more

Nazara Technologies lists at 81% premium; Investors can book profit

Tuesday, March 30, 2021
Nazara Technologies made a stellar debut on the bourses today(30th March 2021) as the shares of the firms listed at Rs 1,990, an 81 percent over its issue price of Rs 1,101 on the National Stock Exchange (NSE). Meanwhile, on the BSE, the stock debuted at Rs 1,979, 79 percent above its issue price. Post-listing, it moved higher to 2,026.90, up 84 percent. At 10:02 am, Nazara Technologies was trading 74 percent higher against its issue price at Rs 1,917.75, after hitting a low of Rs 1,869.05 on the BSE. A combined around 1.4 million equity shares changed hands on the counter on the NSE and BSE so far. Nazara Technologies is an Indian gaming and sports media platform with a presence in India, North America, Africa, and the Middle East. The company derives revenues mainly from subscription fees paid by users for accessing gamified early learning content, as well as, from the eSports business. Read more

Nazara Technologies backed by Rakesh Jhunjhunwala makes strong opening

Tuesday, March 30, 2021
Shares of Nazara Technologies backed by Rakesh Jhunjhunwala made a robust opening on stock exchanges on Tuesday, listing at Rs 1,971, a 79 per cent premium over its issue price of Rs 1,101 per share on the BSE. The debutant stock had a market capitalization of Rs 6,002.25 crore on the listing. The Rs 583-crore IPO of Nazara Technologies was subscribed 176 times by investors. This is the first gaming company that has been listed on the stock exchanges. Nazara owns IPs, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and esports media, and Halaplay and Qunami in skill-based, fantasy and trivia games. Nazara Technologies had raised a whopping Rs 260 crore from anchor investor ahead of IPO launch. The company's IPO committee had decided to allocate 23,73,395 shares to 43 anchor investors at Rs 1,101 per piece. Read more

Closing Bell: Sensex gains 1128 points, Nifty at 14845.10

Tuesday, March 30, 2021
At close, the Sensex was up 1,128.08 points or 2.30% at 50,136.58, and the Nifty was up 337.80 points or 2.33% at 14,845.10 supported by gains in IT, pharma, and metal stocks. HCL Technologies, HDFC Bank, Infosys, NTPC, Hindustan Unilever Ltd (HUL), Nestle India, Power Grid Corporation of India, Housing Development Finance Corporation (HDFC), TCS and Titan were the top Sensex gainers. While losers are Axis Bank, Mahindra & Mahindra and Bharti Airtel. About 1529 shares have advanced, 1386 shares declined, and 197 shares are unchanged. Nifty IT gained 3 per cent followed by Nifty Pharma indices. while the Nifty FMCG and Metal indices closed with nearly 2.5 per cent gains. On the contrary, the Nifty Realty index ended 0.8 per cent down in a firm market. The S&P BSE MidCap index ended 0.98 per cent higher while the S&P BSE SmallCap index gained 1.3 per cent.

MARKET UPDATE:Sensex gained 650 points at 49,680 levels and Nifty reclaimed the 14,700-mark

Tuesday, March 30, 2021
The benchmark indices in India traded over one percent higher in today's(30th March 2021) early deals as investors returned to their trading terminals after three days. Among the headline indices, the S&P BSE Sensex gained 650 points at 49,680 levels and the Nifty50 index reclaimed the 14,700-mark. Hindustan Unilever, Titan, Dr Reddy's, ONGC, and NTPC gained 2 percent, each, and were the top Sensex gainers. The majority of the Nifty sectoral indices were painted green, with the Nifty Metal index, up 2.8 percent, leading the gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices traded 0.9 percent higher, each. Nazara Technologies shares are set to be listed on the stock exchanges today. The issue was subscribed 175.46 times, with the retail portion subscribed 75.29 times, the non-institutional investors' portion subscribed 389.89 times and the qualified institutional buyers segment attracted 103.77 subscriptions.

Despite delay in tariff hike Analysts positive on telecom service providers

Friday, March 26, 2021
A delay in tariff hike by telecom services providers Bharti Airtel, Vodafone Idea (Vi), and Reliance Jio (a subsidiary of Reliance Industries) has not yet turned analysts cautious on the sector. On the contrary, the underperformance of Bharti Airtel and Vi at the bourses, relative to the benchmark S&P BSE Sensex and S&P BSE Telecom indices on a year-to-date (YTD) basis, can be used as an opportunity to enter these stocks from a long-term perspective, analysts say. So far in the calendar year 2021 (CY21), the stock of Bharti Airtel has risen 2.8 percent on the BSE while Vi has declined 8 percent. Peer firm Reliance Industries’ stock that now is seen by analysts as a play both on telecom and oil, on the other hand, has risen 3.2 percent, ACE Equity data show. In comparison, Sensex and BSE Telecom indices are up 2.9 percent and 4 percent, respectively during the period. Read more

Tata Group stocks gains as Supreme Court ruled in favour of Tata Sons

Friday, March 26, 2021
Shares of Tata Group companies, on Friday, rallied up to 6 per cent in intra-day trade on the BSE after the Supreme Court announced its verdict in favour of the Tata Group in the high-profile Tata vs Cyrus Mistry. Indian Hotels was the biggest gainer, rising 5.75 per cent, followed by Tata Steel, Tinplate, Tata Steel BSL, Tata Motors, Tata Power, Nelco, Tata Communication, Tata Coffee, Titan and Tata Chemicals NSE 1.79 % that gained 3-6 per cent. The Supreme Court's verdict in the nearly five-year-old case puts an end to the corporate war between Tata Group and the Mistrys. A bench headed by Chief Justice SA Bobde also dismissed the appeals moved by the SP Group and Cyrus Investments. Read more

Closing Bell: Sensex gains 568 points, Nifty at 14507.30

Friday, March 26, 2021
At close, the Sensex was up 568.38 points or 1.17% at 49,008.50, while the Nifty was up 182.40 points or 1.27% at 14,507.30. Bajaj Finserv, HDFC, Asian Paints and Titan Company limited were the top gainers. Tata Steel, Tata Motors, Bharti Airtel, and Adani Ports were the additional gainers On the downside, PowerGrid, IndusInd Bank, ITC, Maruti Suzuki, UPL, and TCS declined the most on the benchmark indices. About 1633 shares have advanced, 1283 shares declined, and 167 shares are unchanged. The Nifty Metal index ended nearly 4 per cent higher, while the Nifty Financial Services, FMCG, and Auto indices ended with around 2 per cent gains. Realty, bank, pharma and IT indices, meanwhile, advanced up to 1.5 per cent. The S&P BSE MidCap index ended 1.66 per cent higher, while the SmallCap counterpart closed with a per cent gain.

MARKET UPDATE: Sensex gained 250 points at 48,720 levels and Nifty topped the 14,450-mark

Friday, March 26, 2021
In today(26th March 2021) morning deals benchmark indices in India started the April series on a firm note and were trading over half a per cent on the back of favourable global cues. Among headline indices, the S&P BSE Sensex gained 250 points, or 0.6 per cent, at 48,720 levels and the Nifty50 index topped the 14,450-mark. Mahindra & Mahindra and Tech Mahindra rose 2 per cent, each, and were the top Sensex gainers. The Nifty sectoral indices were painted green, with Nifty Bank, Nifty Auto, Nifty Financial Services, and Nifty Metal indices rising over 1 per cent, each. Shares of Kalyan Jewellers and Suroday Small Finance Bank will list at the bourses today. The IPO of Suryoday SFB was subscribed 2.37 times while that of Kalyan Jewellers was subscribed 2.61 times.

Are Indian markets among worst performers globally?

Thursday, March 25, 2021
The S&P BSE Sensex and the Nifty 50 have been among the worst-performing major frontline indices across the globe. if analysts and technical chartists are to be believed, there is still more pain left before the Indian markets start to look up again. The recent surge in Covid cases across the country, elevated commodity prices, and higher bond yields have punctured the market sentiment. From its 52-week high of 52,516.76 hits in intra-day deals on February 16, the S&P BSE Sensex has slipped over 3,000 points, or 6 percent till now. Only the ones in Turkey, Sri Lanka, the Philippines, and Hong Kong have fared worse during this period, data show. At the global level, the positive news of the $1.9 trillion fiscal stimuli in the US and the good progress of the vaccine campaign got overshadowed by the adverse effects of a rebound in the US dollar and rising US bond yields. Read more

Closing Bell:Sensex down 740 points, Nifty at 14324.90

Thursday, March 25, 2021
At close, the Sensex was down 740.19 points or 1.51% at 48,440.12, and the Nifty was down 224.50 points or 1.54% at 14,324.90. Only Dr Reddy’s, ICICI Bank, HDFC, Tata Steel and Larsen & Toubro ended in the green among Sensex constituents. Maruti Suzuki, Hindustan Unilever, and Bharti Airtel, Bajaj Finance, ONGC were the worst performing Sensex stocks. About 748 shares have advanced, 2147 shares declined, and 170 shares are unchanged. The Nifty PSU Bank index skidded 2.5 per cent on the NSE. Meanwhile, the Nifty Realty, Media, and Auto indices dropped 2 per cent each. Other sectoral indices ended up to 1.5 per cent lower, barring the Nifty Metal index, up 0.02 per cent. The S&P BSE MidCap and SmallCap indices closed 2.22 per cent and 1.85 per cent lower, respectively.

MARKET UPDATE:Sensex fell 600 points at 48,580 levels and Nifty gave up the 14,400-mark

Thursday, March 25, 2021
Bears tightened their grip today(25th March 2021), with the benchmark indices in India sliding over 1 percent in morning deals, ahead of the expiry of the March series derivative contracts. The S&P BSE Sensex fell 600 points, or 1.2 percent, at 48,580 levels and the Nifty50 index gave up the 14,400-mark. IndusInd Bank fell 2 percent and was the top Sensex laggard, followed by Axis Bank, State Bank of India, Bajaj Finance, and Maruti Suzuki (all down over 1%). Shares of Laxmi Organic listed at Rs 155.50 on the NSE, a premium of 20 percent over the issue price, while Craftsman Automation listed at 9 percent discount. All the Nifty sectoral indices, traded in the red, with the Nifty PSU Bank index, down 2 percent, bleeding the most. In the broader markets, the S&P BSE MidCap and SmallCap indices fell 1.1 percent, each. Read more

Closing Bell: Sensex down 871 points, Nifty at 14549.40

Wednesday, March 24, 2021
At Close, Sensex closed 871 points, or 1.74 per cent, down at 49180.31 while Nifty settled at 14549.40 down 267 points or 1.79 per cent. Reliance Industries and banking stocks were among the major contributors to today’s fall. Only Asian Paints and Power Grid corporation ended with gains on Sensex. Bank Nifty was down 2.6%. Among sectoral indices, only Nifty Pharma ended with gains on Wednesday.. The Nifty PSU Bank, Metal, and Realty indices slipped up to 3 per cent, while the Nifty Private Bank, Financial Services, Auto, and Bank indices were down 2 per cent. The Nifty Pharma index, meanwhile, was up 0.08 per cent.The S&P BSE MidCap and SmallCap indices ended 1.6 per cent and 1.4 per cent lower, respectively.

MARKET UPDATE:Sensex fell 250 points to 49,750 levels and Nifty gave up the 14,750-mark

Wednesday, March 24, 2021
The benchmark indices in India fell half a percent in today's(24th March 2021) early deals amid feeble global cues. Among the headline indices, the S&P BSE Sensex fell 250 points, or 0.5 percent, to 49,750 levels and the broader Nifty50 index gave up the 14,750-mark. ONGC, State Bank of India, ICICI Bank, and IndusInd Bank fell 1 percent each. Among other individual stocks, Rail Vikas Nigam fell over 7 percent after the company said the government will sell up to 15 cent stake in the company through an offer for sale. All the Nifty sectoral indices, barring the Nifty FMCG index, traded in the red, with the Nifty Metal index, down 1 percent, bleeding the most. The shares of Anupam Rasayan are set to list on the bourses today. The specialty chemicals company raised Rs 760 crore through its public issue which was subscribed 44 times.

Closing Bell: Sensex gains 280 points, Nifty at 14814.75

Tuesday, March 23, 2021
At Close, Sensex closed 280 points, or 0.56 percent, higher at 50,051.44 while Nifty settled at 14,814.75, up 78 points or 0.53 percent.Ultratech Cement, HDFC Bank, IndusInd Bank, and ICICI Bank were the top gainers. Shree Cement, Adani Ports, Divis Labs, Tata Motors, and Maruti Suzuki were the additional gainers While ONGC, ITC and Power Grid were the top drags. Nifty PSU Bank index gained 3 per cent. The Nifty Auto, Financial Services, IT, and Realty indices gained up to 1 per cent on the NSE. On the downside, the Nifty FMCG and Metal indices skid 0.4 per cent and 0.6 per cent, respectively. The S&P BSE MidCap index gained 0.95 per cent higher, while the S&P BSE SmallCap index added 0.75 per cent. India VIX jumped more than 3% intra-day

From April 1st , people above 45 years can get vaccinated

Tuesday, March 23, 2021
The government on Tuesday allowed people above 45 years to get vaccinated against coronavirus from April 1."It has been decided that from April 1, the (COVID-19) vaccine will open for everybody above 45 years of age. We request that all those eligible should immediately register and get vaccinated," Javadekar said. Until now, apart from those aged above 60, only those with co-morbidities and aged above 45 can get vaccinated. Javadekar, while briefing the press following the Union Cabinet meeting, added that scientists have found that the second dose of the Covishield vaccine can be taken up to eight weeks after the first dose, as opposed to the initial recommendation of up to six weeks.

MARKET UPDATE:Sensex gained 200 points, at 50,000 levels and Nifty traded above the 14,800-mark

Tuesday, March 23, 2021
The benchmark indices in India ticked up in today's(23rd March 2021) morning deals ahead of the Supreme Court's verdict on a batch of pleas by various trade associations seeking an extension of loan moratorium in view of the Covid-19 pandemic. Among headline indices, the S&P BSE Sensex gained 200 points, or 0.4 percent, at 50,000 levels, and the Nifty50 index traded above the 14,800-mark. IndusInd Bank, Axis Bank, HCL Tech, ICICI Bank, Titan, and Maruti Suzuki gained over 1 percent each and were the top Sensex gainers. The Nifty sectoral indices were painted green, led by the Nifty IT index, up 1 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.6 percent and 1 percent higher, respectively.

Barbeque Nation IPO to open on March 24th

Monday, March 22, 2021
Casual dining restaurant chain Barbeque Nation Hospitality’s IPO opens on Wednesday on March 24 with an issue price of Rs 498-500 per share. The three-day public issue will conclude on March 26, according to the company. Barbeque Nation Hospitality is backed by private equity investor CX Partners and renowned stock market investor Rakesh Jhunjhunwala's investment firm Alchemy Capital. The initial public offer comprises a fresh issue of shares worth Rs 180 crore and an offer-for-sale of up to 54,57,470 equity shares. According to data on stock exchanges, the Barbeque Nation IPO market lot size is 30 shares. The minimum order quantity of the IPO is 30 shares. A retail investor can apply for a maximum of up to 13 lots, specifically 390 shares or ₹ 195,000. The shares are proposed to be listed on stock exchanges BSE and NSE. The date of the listing is not decided as yet. Read more

Closing Bell: Sensex slips 87 points, Nifty at 14736.40

Monday, March 22, 2021
At close, the Sensex was down 86.95 points or 0.17% at 49,771.29, and the Nifty was down 7.60 points or 0.05% at 14, 736.40. Dr Reddy’s, Tech Mahindra, and Sun Pharma were the top gainers. while Adani Ports, Britannia, Divis Labs, and Cipla were the additional gainers on the Nifty. On the downside, IndusInd Bank, Power Grid, ICICI Bank, Tata Motors, HDFC Bank, Reliance Industries, and Axis Bank, were the top laggards on both the indices. About 1570 shares have advanced, 1427 shares declined, and 223 shares are unchanged. Among sectors, Nifty IT, Metal, pharma and FMCG indices added 1 per cent each, while Nifty Bank and PSU Bank index shed a per cent each. The S&P BSE MidCap and SmallCap indices ended 0.99 per cent and 0.73 per cent higher, respectively.

Investments amid Covid-19 second wave in India

Friday, March 19, 2021
India is going to complete one year of Covid-19 lockdown on March 24, 2020. But, even before that India is seeing Covid-19 related restrictions including night curfews across various states, and mandatory institutional quarantine after inter-state travels back in place. In a recent turn of events, the Bombay Municipal Corporation (BMC) on Friday ordered mandatory negative (COVID) test reports for mall visitors in Mumbai. Amid this, sustainable recovery in stocks related to malls, multiplexes, quick restaurant services (QSR), and aviation is still some time away, say analysts, who believe that investors will be better off if they avoid these stocks till the Covid-19 situation improves. There are more lucrative options in the markets than these counters, they said. Read more

Bulls fought back to lift indices over a per cent higher

Friday, March 19, 2021
Today (19th March 2021) bulls fought back to lift indices over a percent higher. A drop in the US Treasury yield and a GDP growth upgrade by Moody's for India helped the markets snap a 5-day losing streak. Tracking sluggishness in the global markets, the domestic equity markets opened in a sea of red with the frontline indices dropping over a percent. The dip was, however, quickly bought-into, pushing markets in the positive territory in less than two hours into the trade. Mood in the global markets changed after the US Treasury yields slipped to 1.5 percent from Thursday's high of 1.74 percent. Back home, Moody's Analytics said India's economy is likely to grow by 12 percent in CY2021 following a 7.1 per cent contraction last year as near-term prospects have turned more favourable. Read more

Future group stocks fall sharply as deal with Reliance deal on hold

Friday, March 19, 2021
Shares of Kishore Biyani-led Future group companies, on Friday, were locked in their respective lower circuit, with no buyers seen on the counters, after the Delhi High Court upheld the Emergency Award passed against the $3.4-billion Future-Reliance deal. The company's shares plummeted a day after the Delhi High Court upheld the Emergency Award (EA) order passed by the Singapore International Arbitration Centre (SIAC) against Future Retail's Rs 24,713 crore deal with a subsidiary of Mukesh Ambani’s Reliance Industries Limited (RIL). As part of the deal, Reliance was supposed to acquire Future’s retail, logistics and warehousing businesses. But global e-commerce giant Amazon had opposed the Future-RIL deal soon after it was announced last year and subsequently secured the EA award against the deal from the Singapore arbitrator. Not just Future Retail but shares of several other Future Group companies fell on the stock market.

Closing Bell:Sensex gains 641 points, Nifty at 14744.00

Friday, March 19, 2021
At close, the Sensex was up 641.72 points or 1.30% at 49,858.24, and the Nifty was up 186.10 points or 1.28% at 14,744 lifted by gains in FMCG, metals, and financials. NTPC, HUL and Reliance Industries were the top index gainers. Tech Mahindra and Larsen & Toubro were the top drags. About 1461 shares have advanced, 1418 shares declined, and 200 shares are unchanged. The Nifty Energy index rose 3 per cent and the Nifty FMCG index, up 1 per cent, leading the gainers. Among sectoral indices, Nifty Realty was the only one to end in the red. The S&P BSE MidCap index was flat while the SmallCap index dipped half a per cent.

MARKET UPDATE:Sensex trading around 48,940 levels, down 275 points and Nifty gave up the 14,400-mark

Friday, March 19, 2021
In the Indian markets today (19th March 2021), the benchmark indices fell over half a percent in morning deals, but off the early lows, following weak global cues amid a spike in bond yields. The S&P BSE Sensex was trading around 48,940 levels, down 275 points. The index hit an intra-day low of 48,587, earlier in the session. Meanwhile, the broader Nifty50 index also gave up the 14,400-mark. ONGC (down 4%) was the top Sensex laggard, followed by Larsen & Toubro and Tech Mahindra (both down 2%). Among other individual stocks, Future Retail shares tumbled 10 percent after the Delhi High Court upheld the Emergency Award that Amazon had won against the Future Retail-RIL deal. The Nifty sectoral indices were painted red, with the Nifty PSU Bank index, down 1.9 percent, bleeding the most. The broader markets fared worse than their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 1.4 percent and 2 percent down, respectively. Read more

Sensex has sunk over 2,300 points in five sessions

Thursday, March 18, 2021
Sensex tanked close to 800 points today after initially starting the day in the green. Sensex has now sunk over 2,300 points in five sessions and is inching closer towards its first technical correction since the crash of last March caused by the COVID-19 pandemic. To back its determination to keep monetary policy accommodative, the US Fed also hiked the limit for overnight reverse repo auction exposure to $80 billion from $30 billion earlier to assuage the mayhem in the US Treasury bond market. Yet the market does not seem convinced. The major factors driving the skittishness in the Indian equity market are: Read more

BHEL gains 7% after it has emerged as the lowest bidder

Thursday, March 18, 2021
Shares of Bharat Heavy Electricals Limited (BHEL) rallied 7 per cent to Rs 53.80 on the BSE in intra-day trade on Thursday after the company said it has emerged as the lowest bidder for supply of equipment for 6x700 MW nuclear power projects of Nuclear Power Corporation of India for Rs 10,800 crore. With this tender, BHEL has retained its market leadership position of being the sole Indian supplier of nuclear steam turbines. "In an open competitive bidding process, Bharat Heavy Electricals has emerged as the lowest bidder (Rs 10,800 crore) for the fleet mode tender floated by Nuclear Power Corporation of India Ltd (NPCIL) for the 6x700 MW Turbine Island Package Projects," the company said in a BSE filing. PHWRs (Pressurised Heavy Water Reactors) are the mainstay of the Indian Nuclear Power Programme and 12 of the 18 operating PHWRs of NPCIL are equipped with BHEL-supplied steam turbine generator sets (10x220 MWe + 2x540 MWe) with the balance from Canada and Ukraine. Read more

Closing Bell: Sensex down 585 points, Nifty at 14557.85

Thursday, March 18, 2021
At close, the Sensex was down 585.10 points or 1.17% at 49,216.52, while Nifty was down 163.40 points or 1.11% at 14,557.90. Infosys, HCL Technologies, Dr Reddy’s, and Reliance Industries were the worst-performing stocks on Sensex. ITC and BHEL was the top Sensex gainer followed by Bajaj Auto and Bharti Airtel. About 819 shares have advanced, 2114 shares declined, and 131 shares are unchanged. Nifty FMCG and Nifty Metal were the only two sectoral indices to end in green. Nifty IT was down over 3% as the worst performing sectoral index. Nifty PSU Bank and Realty indices declined 2 per cent each, while the Nifty Bank, Private Bank, and Financial Services indices slipped 1 per cent each. The S&P BSE Mid and SmallCap indices sliding 1.3 per cent and 1.6 per cent, respectively at the close.

RBI’s list of “systemically important banks” may widen

Thursday, March 18, 2021
After the changes in the pecking order consequent to the merger of state-run players the RBI’s list of “systemically important banks” may wi en. As of date, only the State Bank of India (SBI), ICICI Bank, and HDFC Bank figure in the central bank’s classification of domestic systemically important banks (D-SIBs). The matter has figured in internal meetings of the central bank’s supervisory department, but a formal agenda note is yet to be put up. While SBI and HDFC Bank continue to occupy the top two slots in terms of asset size, Bank of Baroda (BoB), Punjab National Bank (PNB), and Canara Bank have pushed ICICI Bank to the sixth position. The indicator weight for size under the RBI’s ‘Framework for dealing with D-SIBs’ (released on July 22, 2014) is 40 percent. Read more

MARKET UPDATE:Sensex zooms 440 points at 50,240 levels and Nifty hovered above 14,850-mark

Thursday, March 18, 2021
The benchmark indices in India traded nearly 1 per cent higher in today's(18th March,2021) early deals amid firm global cues after the Federal Reserve pledged to keep monetary policy and rates unchanged and projected a rapid jump in US economic growth this year. The S&P BSE Sensex gained 440 points, or 0.9 per cent, at 50,240 levels and the Nifty50 index hovered above 14,850-mark. All the Nifty sectoral indices were trading with gains, led by Nifty Metal index, up 2 per cent.

Closing Bell:Sensex down 562 points, Nifty at 14721.30

Wednesday, March 17, 2021
At close, the Sensex was down 562.34 points or 1.12% at 49,801.62, and the Nifty was down 189.20 points or 1.27% at 14,721.30 for the fourth consecutive session amid a broad-based sell-off. Reliance Industries Ltd (RIL), HDFC Bank, Kotak Mahindra Bank, State Bank of India (SBI) and ICICI Bank contributed the most to the indices’ loss. While gainers included ITC, TCS, Infosys and HDFC.About 818 shares have advanced, 2115 shares declined, and 138 shares are unchanged. All the sectoral indices ended in the red with the Nifty PSU Bank index fell 4 per cent and Nifty Realty, Metal fell 3 per cent. The Nifty Pharma, Private Bank, and Auto indices, meanwhile, skid up to 2 per cent. The S&P BSE MidCap index sliding 2.28 per cent, while the S&P BSE SmallCap index skid 2.12 per cent.

MARKET UPDATE:Sensex trading 40 points higher at 50,406 levels while Nifty 10 points up at 14,910 levels

Wednesday, March 17, 2021
Indian markets were volatile but managed to eke out minor gains in the early trade today(17th March 2021), tracking mixed cues from Asian peers, as investors weighed the impact of rising cases of Covid-19 in the country, and awaited the outcome of the US Federal Reserve's monetary policy. Among key headline indices, the benchmark S&P BSE Sensex was trading 40 points, or 0.08 percent, higher at 50,406 levels while the NSE's Nifty 50 was at 14,910 levels, up 10 points or 0.07 percent. L&T, GAIL, Tech Mahindra, ITC, and M&M, all up between 1 percent and 2 percent, were the top-performing stocks on the Nifty, while BPCL, Asian Paints, Hindalco, Axis Bank, and HDFC Life, down up to 2.6 percent, were the top laggards. Read more

Aarti Drugs gains 6% as board to consider buyback

Tuesday, March 16, 2021
Shares of Aarti Drugs were up 6 per cent at Rs 708 on the BSE in intra-day trade on Tuesday after the pharmaceutical company said its board will consider share buyback on Friday, March 19. A meeting of the Board of Directors of the company is scheduled to be held on Friday, March 19, 2021, to consider the proposal of buyback of the fully paid-up equity shares of the company, Aarti Drugs said in a regulatory filing. The pharma stock has risen 432% in one year but lost 2.12% since the beginning of this year. The market cap of the firm rose to Rs 6,432 crore on BSE. The firm reported a 144.92% rise in Q3 net profit to Rs 68.04 crore against Rs 27.78 crore profit in the corresponding quarter of the previous fiscal. Read more

Closing Bell: Sensex down 31 points, Nifty at 14910.45

Tuesday, March 16, 2021
At close, the Sensex was down 31.12 points or 0.06% at 50,363.96, while Nifty was down 19 points or 0.13% at 14,910.50.Top BSE Sensex losers include Larsen & Toubro (L&T), ICICI Bank, State Bank of India (SBI), HDFC Bank, Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank and NTPC. On the flip side, Asian Paints was the top index gainer, up 5 per cent, followed by Dr Reddy’s, HCL Technologies, Hindustan Unilever Ltd (HUL), Tata Consultancy Services (TCS), and ITC, among others. About 1449 shares have advanced, 1463 shares declined, and 174 shares are unchanged. The Nifty Bank, Private Bank, PSU Bank, and Metal indices skid up to 1.3 per cent on the NSE. On the upside, the Nifty IT and FMCG indices closed 1 per cent higher each. The S&P BSE MidCap and SmallCap indices each ended around 0.4 per cent higher.

Winners from Ashish Kacholia's portfolio

Tuesday, March 16, 2021
Poly Medicure, Mastek Limited, Coforge, ADF Foods, and Neuland Laboratories have rallied as much as five times in the last year. Among individual stocks, ace investor Ashish Kacholia held 1.75 million equity shares, or a 1.83 percent stake, in Poly Medicure as of February 19, 2021, as per the shareholding data. The stock has rallied 245 percent in the last one year (till March 15, 2021) as compared to a 60.5 percent gain in the benchmark S&P BSE Sensex in the same period. Similarly, ADF Food has surged 477 percent, Coforge 128 percent, Mastek 356 percent, and Neuland a whopping 529 percent.

CLSA sees a lot of value in large cap banks

Tuesday, March 16, 2021
CLSA sees a lot of value in large-cap banks like Axis Bank, State Bank of India, and ICICI Bank, in spite of the 60-90% surge in their stocks since September 2020. "We see a dual benign credit cycle play out both for corporate and retail loans from FY22, and our top picks are key beneficiaries as 70% of their provisioning in the past five years was due to high corporate stress," said CLSA. The brokerage said the dual benign credit cycle for both corporate and retail loans continues to play out and the reversing rate cycle is positive for banks' net interest margins. CLSA said its analysis on what's priced in indicates that the current share prices imply long term return on equity of 13.5-14% for ICICI Bank and Axis bank and 10% for SBI. This is 2.5% lower for Axis Bank and ICICI Bank and 3% lower for SBI versus its long-term return on equity expectations.

SP Group has commenced talks with foreign investors to raise up to Rs 4,000 crore

Tuesday, March 16, 2021
SP (Shapoorji Pallonji)Group has commenced talks with foreign investors to raise up to Rs 4,000 crore as debt to be paid to Indian lenders. This is seen as a last-ditch effort by the Indian conglomerate to circumvent the non-performing asset (NPA) label by March-end. The group has already placed its three assets on the block. The move by SP & Company (SPCPL) — the flagship company of SP Group — comes at a time when banks are discussing its one-time restructuring (OTR) application. A banker said SP Group is in talks with SSG Capital and other institutions to raise funds till its OTR gets clearance. SP Group’s earlier attempts to raise funds from Toronto-based Brookfield Asset Management Inc. were nixed by Tata Group. Tata Group had said SP Group cannot give its holding company, Tata Sons, shares as collateral without its permission and had moved to Supreme Court. Read more

MARKET UPDATE:Sensex gained 150 points to 50,600 levels and Nifty reclaimed the 15,000-mark

Tuesday, March 16, 2021
The Indian markets in India traded with slim gains in today's(16th March 2021) early deals, on the back of positive global cues. Among the headline indices, the S&P BSE Sensex gained 150 points to 50,600 levels and the Nifty50 index reclaimed the 15,000-mark it had given up in the previous session. Bharti Airtel, Titan, Asian Paints, Dr. Reddy's, and UltraTech Cement rose 1 percent, each, and were the top Sensex gainers. Among other individual stocks, Tata Communications slipped over 7 percent as the offer for sale (OFS) to divest the government’s shareholding in the company opened for institutional investors at the floor price of Rs 1,161 per share. The Nifty sectoral indices were mixed, with the Nifty IT index, up 0.4 percent, leading the gainers. Read more

MTAR Technologies make strong debut

Monday, March 15, 2021
MTAR Technologies made a solid market debut on Monday, as the scrip got rose to Rs 1,150 on BSE. It opened at Rs 1,050, an 83 per cent premium over the issue price of Rs.575.The ₹597-crore initial public offering (IPO) of MTAR Technologies, which was open between March 3 and March 5, was subscribed more than 200 times. The price band was fixed at ₹574- 575 per equity share. The IPO received bids for 145.79 crore equity shares against an offer size of 72.6 lakh equity stocks, translating into a subscription of 200.79 times.MTAR Technologies has announced that the proceeds from the fresh issue will be used to repay debt, fund long-term working c MTAR Technologies is engaged in the manufacture of mission-critical precision components with close tolerances, and in critical assemblies. It has seven manufacturing facilities, including an export-oriented unit located in Hyderabad, Telangana, and has been servicing the defence, aerospace and energy sectors for more than four decades. Read more

Government to sell remaining stake in Delhi, Mumbai, Bangalore, Hyderabad airports

Monday, March 15, 2021
The aviation ministry is preparing to sell its stakes in companies that operate airports in Delhi, Mumbai, Bengaluru, and Hyderabad, a move that will help achieve the government’s target of raising ₹20,000 crores from monetisation of assets in FY22. The ministry has started the process to fetch approvals, including those from the cabinet, to speed up the sale process. “The aviation ministry has an asset monetisation target of ₹20,000 crores for FY22. While privatisation of airports will contribute to that target, this move could become the largest contributor,” said an official who did not want to be named. Read more

Closing Bell: Sensex down 400 points, Nifty at 14929.50

Monday, March 15, 2021
At close, the Sensex was down 397.00 points or 0.78% at 50,395.08, and the Nifty was down 101.50 points or 0.68% at 14,929.50. The top BSE Sensex losers were Housing Development Finance Corporation (HDFC), HDFC Bank, State Bank of India (SBI), Kotak Mahindra Bank, Reliance Industries Ltd (RIL). On the flip side, ONGC shares gained the most, rising over 1 per cent. Power Grid Corporation of India, Maruti Suzuki, Tech Mahindra, Asian Paints were among the top index gainers. About 1210 shares have advanced, 1788 shares declined, and 207 shares are unchanged. Nifty sectoral indices were painted red, with the Nifty Bank index, down 2.7 per cent, bleeding the most. Only metal, IT and PSU bank indices ended in the green.The S&P BSE MidCap and SmallCap indices were down 0.8 per cent and 0.5 per cent, respectively.

Key factors behind today's market fall

Monday, March 15, 2021
Today (15th March 2021) the equity benchmark indices were on track for the second day of fall.The fall comes on the back of weak macroeconomic data (dip in IIP, rise in inflation) and resurgence in Covid-19 infections. Besides, elevated crude prices and jump in bond yields also weighed on sentiment. The weak macroeconomic print spooked investors who have been plowing money into the market amid hopes of a strong economic recovery. In a double whammy for the economy, industrial production growth re-entered the negative territory by contracting 1.6 percent in January, while retail inflation soared to a three-month high of 5.03 percent in February on costlier food items. That apart, WPI inflation came in at 4.17 percent in February, up 2.03 percent from January. "Looking ahead, we expect large upticks in the WPI inflation over the next three months, as the wedge between the commodity prices and their year-ago level intensifies. We expect the headline and core WPI inflation to rise Read more

MARKET UPDATE:Sensex fell 500 points to 50,280 levels and Nifty gave up the 14,900-mark

Monday, March 15, 2021
The benchmark indices in India added to their early losses and were trading over 1 percent lower in today's(15th March 2021) morning deals. Meanwhile, the volatility index, India VIX, ticked up 5 percent to 22.9 levels. The S&P BSE Sensex fell 500 points, or 1 percent, to 50,280 levels and the Nifty50 index gave up the 14,900-mark. Bajaj Finance, Bajaj Finserv, HDFC, State Bank of India, and HDFC Bank fell over 1 percent each and were the top Sensex laggards. The Nifty sectoral indices were painted red, with the Nifty Bank index, down 1.8 percent, bleeding the most. In the broader market, the S&P BSE MidCap and SmallCap indices were down 0.5 percent and 0.4 percent, respectively. Read more

Investors should be prepared for biggest inflation scare since 1980s

Friday, March 12, 2021
Christopher Wood, global head of equity strategy at Jefferies in his weekly note to investors, GREED & fear warned investors for the biggest inflation scare since the 1980s. “For now investors should be prepared for the biggest inflation scare since the early 1980s, and wait to see how the (US) Fed reacts. In the meantime, Treasury bonds are likely to sell off more, and cyclical stocks rally more, before any such tapering scare,” Wood said. That said, he believes that if inflation really does return on a longer-term basis, it would mean that equities and bonds would become positively correlated on the downside - that is they will both go down in price together. The return of inflation fears has been stoked again by the rise in commodity prices, especially oil, which has jumped over 90 percent from its March 13 level of $35 a barrel (bbl.) to around $70/bbl. now. Read more

IDBI Bank share price surges 17% as RBI takes it out of PCA framework

Friday, March 12, 2021
Share of IDBI Bank opened 17 per cent higher at Rs 44.80 on the Bombay Stock Exchange after Reserve Bank of India (RBI) removed the lender from the prompt corrective action framework, subject to certain conditions and continuous monitoring. IDBI Bank was removed from the RBI's prompt corrective action (PCA) framework on Wednesday after a gap of nearly four years on improved financial performance. Under the prompt corrective action (PCA), the banking regulator restricted big-ticket loans to stem the surge in risky assets. That meant the lender was not allowed to grow and had to focus its energies on fixing its legacy dud loans and its balance sheet. The performance of the bank was reviewed by the board for financial supervision (BFS) in its meeting held on February 18, 2021, and it was noted that as per published results for the quarter ending December 31, 2020, the bank is not in breach of the PCA parameters on regulatory capital, net NPA and leverage ratio. Read more

Closing Bell:Sensex down 400 points, Nifty at 15030.95

Friday, March 12, 2021
At close, the Sensex was down 487.43 points or 0.95% at 50,792.08, while Nifty was down 143.80 points or 0.95% at 15,031.. Kotak Mahindra Bank, HDFC Bank, HDFC, ICICI Bank, and SBI were all trading with losses. Powergrid, Infosys, Titan and Bajaj Finance were the only stocks trading with gains on Sensex. About 1335 shares have advanced, 1626 shares declined, and 174 shares are unchanged. All the NSE indices were painted red with the Nifty Auto and PSU Bank indices down around 2 per cent each. The Nifty Bank, Financial Services, FMCG, Metal, and Private Bank indices, on the other hand, slipped nearly 1 per cent. The S&P BSE SmallCap index fended the fall and settled 0.14 per cent higher and the MidCap, fell 0.45 per cent.

Maharashtra, TN, Punjab, MP, Delhi, Gujarat and Karnataka - displaying an upward trajectory in the number of fresh Covid-19 cases

Friday, March 12, 2021
India reported 23,285 fresh Covid-19 cases yesterday pushing the overall tally to 11,308,846, according to Worldometer. The death toll from the deadly infection jumped to 158,326. The country continues to be second-most-affected globally and ranks 11th among worst-hit nations by active cases. The five most affected states are Maharashtra, Kerala, Karnataka, Andhra Pradesh, and Tamil Nadu. The total number of Covid-19 vaccine doses administered in the country crossed 26,164,000. Coronavirus cases rise unabated across the globe with 119,097,578 infected by the deadly virus. While 94,635,198 have recovered, 2,640,868 have died so far. The US remains the worst-hit country with 29,922,718, followed by India, Brazil, Russia, and the United Kingdom. However, in terms of the total number of active cases, the US tops the charts, followed by France, Brazil, UK, and Belgium.

MARKET UPDATE:Sensex gained 450 points at 51,730 levels and the Nifty topped 15,300

Friday, March 12, 2021
The benchmark indices in the Indian market traded firm, up nearly 1 percent, in today's(12th March 2021) early deals, tracking similar cues from their Asian peers which rallied after President Joe Biden signed his $1.9 trillion stimulus bill into law. Among the headline indices, the S&P BSE Sensex gained 450 points at 51,730 levels and the Nifty50 index topped 15,300. HDFC Bank, Axis Bank, Titan, ONGC, Larsen & Toubro, ICICI Bank, and IndusInd Bank rose 1 percent each among Sensex constituents. Among other individual stocks, IDBI Bank rallied 17 percent after the bank was taken out of the PCA framework by the RBI. The Nifty sectoral indices were painted green, led by the Nifty Private Bank index, up 1.3 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices traded 0.6 percent and 0.8 percent higher, respectively.

Anupam Rasayan India coming with an IPO to raise upto Rs 752 crore

Wednesday, March 10, 2021
Surat-based Anupam Rasayan is one of the leading companies engaged in the custom synthesis and manufacturing of speciality chemicals in India. The issue opens on 12 Mar 2021 and closes on 16 Mar 2021. The Price Band is Rs 553-Rs 555 and the Market Lot size is 27 shares and the multiple thereof. The Issue Size is Rs 760 cr and the total number of shares offered are 13,693,693. The shares will be listed on BSE as well as NSE. The issue by the speciality chemicals company comprises entirely fresh issuance of shares and the net proceeds would be utilised towards repayment or prepayment of certain indebtedness and for general corporate purposes. The post-issue implied market capital is pegged at Rs 5,527-5,544 crore. Read more

Closing Bell:Sensex gains 254 points, Nifty at 15174.80

Wednesday, March 10, 2021
At close, the Sensex was up 254.03 points or 0.50% at 51,279.51, and the Nifty was up 76.40 points or 0.51% at 15,174.80. Bajaj Finance, Sun Pharma, JSW Steel, Tata Steel, Hindalco, and Tech Mahindra were the top gainers on Sensex. ONGC, Kotak Mahindra Bank, SBI Life and Maruti Suzuki India were the top drags. About 1609 shares have advanced, 1322 shares declined, and 170 shares are unchanged. The Nifty Metal index gained 1.5 per cent Nifty IT index up 1.67 per cent and the Nifty Pharma index up 1.48 per cent. On the downside, the Nifty PSU Bank index ended 0.15 per cent lower. The S&P BSE MidCap index ended 0.7 per cent higher today, while the S&P BSE SmallCap index settled 0.9 per cent higher.

Demand-driven rise in crude oil prices is good for equity markets

Wednesday, March 10, 2021
A rise in oil prices – if driven by a surge in demand/consumption – is a positive for equity markets, according to analysts. Analysts at Jefferies estimate that every $10 per barrel (bbl) rise in the Brent oil price raises India’s trade deficit by around 40-50 basis points (bps). Yet, they believe that the equity markets should be able to digest the recent spurt. “A $70/bbl of crude would have a 100-120 bps impact on current account deficit (CAD). Improving domestic demand on a low base would drive CAD to 1.5 percent in fiscal 2021-22 (FY22) versus a 0.7 percent surplus this year. However, we still expect the balance of payments (BoP) to be a positive around 1.2 percent as capital account (FDI, ECB and NRI deposits) should see over $80 billion surpluses,” wrote Mahesh Nandurkar, managing director at Jefferies in a recently co-authored note with Abhinav Sinha. Read more

IT stocks may help Nifty50 claim new high

Wednesday, March 10, 2021
Buoyed by an overnight rally in tech stocks in the US, Indian IT stocks caught investor fancy today(10th March 2021). Tech-heavy Nasdaq gained about 4 percent on Wall Street on 9th March with Tesla Inc jumping 20 percent, the most in almost a year, while Amazon.com Inc and Microsoft Corp posted the biggest single-day gains in five weeks. Consequently, the Nifty IT index back home was outperforming the benchmark Nifty50 index. At 11:26 am, the Nifty IT index was ruling 1.4 percent higher at 25,936.5 levels, having touched a high of 25,984 levels in the intra-day deals. Among individual stocks, shares of KPIT Technologies, L&T Technology Services (LTTS), and Mindtree hit their respective record highs on the BSE in intra-day trade. Read more

MARKET UPDATE:Sensex rose 250 points to 51,280 levels and Nifty topped the 15,150-mark

Wednesday, March 10, 2021
The markets in India traded over half a percent higher in today's(10th March 2021) early deals, tracking similar trends from other Asian markets, ahead of the weekly options expiry. Among the headline indices, the S&P BSE Sensex rose 250 points to 51,280 levels and the broader Nifty50 index topped the 15,150-mark. IndusInd Bank rose 3 percent and was the top Sensex gainer, followed by Mahindra & Mahindra, Bajaj Finance, Sun Pharma, State Bank of India, and Titan (all up 1% each). The Nifty sectoral indices traded with gains, led by the Nifty Realty index, up 1.5 percent. Meanwhile, the broader markets outran their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.8 percent higher, each.

JMC Projects jumps 19 percent on winning project worth Rs 1,000 crore in Maldives

Tuesday, March 9, 2021
Shares of JMC Projects rallied 19 per cent to Rs 93.90 on the BSE in intra-day trade on Tuesday after the company said it has signed an agreement with Fahi Dhiriulhun Corporation Limited (FDC) for the design, finance and construction of 2,000 social housing units in Hulhumale Island of Maldives for a project worth Rs 1,000 crore.JMC Projects share rose to a 52-week high of Rs 93.85, rising 19.63% against the previous close of Rs 78.45 on BSE. The financial closure of the project is expected to conclude soon and construction on the project will commence after the financial closure, it added. "The signing of the agreement with FDC is a landmark event in JMC's growth journey. The project is a milestone and testament to our ability to deliver major projects to the highest quality and within tight time frames. Our international business has expanded its presence further with this project in the Maldives. Read more

Closing Bell:Sensex gains 584 points, Nifty at 15098.40

Tuesday, March 9, 2021
At close, the Sensex was up 584.41 points or 1.16% at 51,025.48, and the Nifty was up 142.20 points or 0.95% at 15,098.40. Kotak Mahindra Bank, HDFC Bank, Tech Mahindra, Housing Development Finance Corporation (HDFC), ICICI Bank, Bajaj Finance, Asian Paints, TCS, HCL Technologies, were among top index gainers. On the contrary, Power Grid Corporation of India, ONGC, NTPC, Bharti Airtel, State Bank of India (SBI) were among top Sensex losers. About 1254 shares have advanced, 1693 shares declined, and 190 shares are unchanged.Nifty Metal index down 2.5 per cent at the close, followed by the Nifty PSU Bank, Pharma, Realty, Media, and Auto indices, down between 0.5 per cent and 1.5 per cent. The Nifty Financial Services, Bank, and IT indices were the only gainers, up 2 per cent, 1.8 per cent, and 1 per cent, respectively. The S&P BSE MidCap and SmallCap indices closing 0.6 per cent and 0.4 per cent down, respectively.

BPCL tanks 6% after BPCL Trust offloads stake in firm

Tuesday, March 9, 2021
Shares of BPCL dipped 6 percent to Rs 438 on the National Stock Exchange (NSE) in intra-day trade today(9th March 2021) after BPCL Trust for Investment in Shares (BPCL Trust) sold up to 7 percent of its stake in state-owned energy company through a block deal. Till 09:21 am, around 153.66 million equity shares, representing 7.08 percent of total equity, of BPCL had changed hands on the NSE. On the BSE, around 7.5 million equity shares or 0.34 percent equity of the state-owned company had changed hands. On Monday, BPCL informed the stock exchanges that, a sub-committee of the board of directors of the company has approved the sale of BPCL equity shares which are held by the BPCL Trust for Investment in shares through accelerated book built offering of equity shares on the screen-based trading platform of the stock exchanges. Read more

Equity mutual funds witnessed an outflow of Rs 10,468 crore in February

Tuesday, March 9, 2021
In February Equity mutual funds witnessed an outflow of Rs 10,468 crore making it the eighth consecutive monthly withdrawal. The Flexi cap category accounted for most of the outflow. Overall, the mutual fund industry witnessed a net outflow of Rs 1,843 crore across all segments during the period under review, compared to Rs 35,586 crore in January. Despite the outflow, asset under management (AUM) of the mutual fund industry rose to Rs 31.64lakh crore in February-end from Rs 30.5 lakh crore in January-end. As per the data, the outflow from equity and equity-linked open-ended schemes was at Rs 10,468 crore in February compared to Rs 9,253 crore in January. Barring multi-cap, large & mid-cap and focussed fund categories, all the equity schemes have seen outflow last month. The newly created Flexi cap category saw a maximum outflow of Rs 10,431 crore. Read more

Spike in Covid-19 cases takes toll on business recovery:NIBRI

Tuesday, March 9, 2021
Nomura Global Markets Research flagged that the sharp resurgence in pandemic cases in some states and the expected spike due to upcoming elections in five states may have a deeper effect if mobility gets affected. The Nomura India Business Resumption Index (NIBRI) fell to 95.2 for the week ended March 7 versus 98.5 in the week before as both the Apple driving index and the Google retail and recreation indices took a hit while power demand and labour participation rates fell as Covid cases rose. “However, in our view, this threatens near-term normality equilibrium, rather than triggering more serious economic damage,” the research firm said. Read more

MARKET UPDATE:Sensex rose 400 points to 50,860 levels and the Nifty holding above the 15,000-mark

Tuesday, March 9, 2021
The Indian benchmark indices traded over half a percent higher in today's(9th March 2021) early deals, tracking similar trends in other Asian markets. The S&P BSE Sensex rose 400 points to 50,860 levels and the Nifty50 was comfortably holding above the 15,000-mark. HDFC Bank and UltraTech Cement gained 2 percent, each, and were the top Sensex gainers. Among other individual stocks, BPCL dipped 6 percent after media reports said that BPCL Trust for Investment in Shares (BPCL Trust) will sell up to 4 percent of its shares in the company. The Nifty sectoral indices traded in the green, led by the Nifty Bank index, up 1.4 percent.

Closing Bell:Sensex gains 36 points, Nifty at 14956.20

Monday, March 8, 2021
At Close, the Sensex was up 35.75 points or 0.07% at 50,441.07, and the Nifty was up 18.10 points or 0.12% at 14,956.20. Larsen & Toubro and ONGC were the top index gainers, followed by HCL Technology and Axis Bank. IndusInd Bank, Ultratech Cement, and Bajaj Finance were the top index drags. About 1698 shares have advanced, 1382 shares declined, and 208 shares are unchanged. Nifty PSU Bank, Metal, and IT indices gained up to 1.5 per cent higher on the NSE. Nifty Realty, FMCG, and Auto indices, meanwhile, ended up to 1 per cent down. The S&P BSE MidCap and SmallCap indices closed 0.3 per cent and 0.6 per cent higher, respectively.The volatility index, India VIX, cooled-off 3.5 per cent and closed at 24.6 levels

Apple to soon make iPhone 12 in India

Monday, March 8, 2021
Apple Inc. will manufacture iPhone 12 in India soon, its latest model launched in India on October 30 last year, a few weeks after the global release. iPhone 12 will be manufactured at the Hon Hai Precision Industry (Foxconn) facility in Tamil Nadu — both for the domestic as well as the export market. The unit also manufactures iPhone 11, which is the bestseller in India, as well as iPhone XR. An Apple India spokesperson did not respond to a query on the issue. Apple Inc. has tied up with three global vendors — Foxconn, Pegatron, and Wistron — under the production-linked incentive scheme to manufacture in India with huge commitments to export. Currently, Wistron and Foxconn are in operation in India, while Pegatron’s unit is expected to come up sometime in the middle of next year, say sources. According to analysts, Apple Inc. is expected to shift 7-10 percent of its capacity from China.

RBI governor is optimistic about the growth prospects of the economy

Monday, March 8, 2021
RBI governor Shaktikanta Das in an interview with TOI said that savers can look at various small savings schemes for better returns while asserting that inflation management remains a top priority. He said equity investors must be judicious and not get carried away by short-term trends. Growth impulses are gradually and steadily getting broad-based. The high-frequency indicators such as steel consumption, PMI for manufacturing and services are expanding, GST collections and e-way bills are showing improvement. Earlier, there was an impression that it was due to pent-up and festival demand. But now, it is genuine demand that is visible. The vaccination drive is giving greater confidence to consumers, so the demand is expected to sustain. The only downside risk is the recent spike in the number of Covid cases in certain parts of the country. With daily vaccination numbers going up, we should be able to contain a further spike. Read more

MARKET UPDATE:Sensex rose 450 points to 50,880 levels and the Nifty reclaimed the psychological level of 15,000

Monday, March 8, 2021
The benchmark indices in India traded over half a percent higher in today's(8th March 2021) early deals, mirroring the firm trend in other Asian markets. Among the headline indices, the S&P BSE Sensex rose 450 points to 50,880 levels and the Nifty50 index reclaimed the psychological level of 15,000. ONGC (up 4%) was the top Sensex gainer, followed by State Bank of India, NTPC, Mahindra & Mahindra, and HDFC Bank (all up 1%). The Nifty sectoral indices were painted green, led by the Nifty PSU Bank index, up 3 percent.

Closing Bell:Sensex down 598 points, Nifty at 15080.75

Thursday, March 4, 2021
At Close, Sensex was down 598.57 points or 1.16% at 50,846.08, and the Nifty was down 164.80 points or 1.08% at 15,080.80. Housing Development Finance Corporation (HDFC) as the top index loser. Bajaj Finsv, L&T, State Bank of India (SBI), Axis Bank, HDFC Bank and ICICI Bank were among other losers. UltraTech Cement, Dr Reddy’s Laboratories, Asian Paint, Hindustan Unilever Ltd (HUL) and Maruti Suzuki ended with gains. About 1580 shares have advanced, 1350 shares declined, and 183 shares are unchanged. Barring Nifty Media and Nifty Realty indices, all the sectoral indices finished trade in the negative territory. The S&P BSE MidCap index settled 0.5 per cent higher,

MARKET UPDATE:Sensex gained 350 points to 50,700 levels and Nifty reclaimed the psychological level of 15,000

Wednesday, March 3, 2021
The markets in India traded over half a percent higher in today's(3rd March 2021) early deals after opening on a firm note for the third consecutive day. The S&P BSE Sensex gained 350 points to 50,700 levels. The broader Nifty50 index, meanwhile, reclaimed the psychological level of 15,000 and was holding above that mark. HDFC, ONGC, PowerGrid, NTPC, and Infosys rose 1 percent, each, and were the top Sensex gainers. Among other individual stocks, IRCON slid 6 percent as the offer for sale for up to 16 percent government stake at a floor price of Rs 88 per share in the railway PSU opened today. The Nifty sectoral indices traded in the green, led by the Nifty Metal index, up 2 percent.

India's economy is on an "upswing" but it might take longer to become a USD 5 trillion economy due to pandemic disruptions:Panagariya

Tuesday, March 2, 2021
India's economy is on an "upswing" and the government's plans for increased spending comes in the backdrop of pro-growth reforms, former Niti Aayog Vice-Chairman Arvind Panagariya said today(2nd March 2021) even as he opined that it might take longer to become a USD 5 trillion economy due to the coronavirus pandemic-induced disruptions. Panagariya, who is currently a Professor of Economics at the Columbia University, said the country's GDP growth in October-December 2020 quarter returned to a hair's breadth above its level a year ago. "At 0.4 percent, the year-on-year growth in GDP may seem low but given the large negative growth during the preceding two quarters ((-)24.4 percent during April-June and (-)7.3 percent during July-Sept), the quarter-on-quarter growth momentum is very strong," he said. Read more

India's exports marginally declined 0.25 percent while imports grew by 6.98 percent in February

Tuesday, March 2, 2021
India's exports marginally declined 0.25 percent to $27.67 billion in February while imports grew by 6.98 percent to $40.55 billion during the month, according to provisional data released by the commerce ministry today(2nd March 2021). The trade deficit widened to $12.88 billion in February as compared to $10.16 billion in the year-ago period, the ministry said in a statement. The exports during April-February 2020-21 period stood at $255.92 billion. In the same period a year ago, it was at $291.87 billion, showing negative growth of 12.32 percent. Imports during the April-February period too dipped 23 percent to $340.88 billion. In February 2021, Oil imports were $8.99 billion, as compared to $10.78 billion in February 2020, a decline of 16.63 percent. Oil imports in April-February 2020-21 stood at $72.08 billion, as compared to $120.50 billion, showing a decline of 40.18 per cent. Read more

Airtel acquires Rs 18,699 cr in spectrum auction

Tuesday, March 2, 2021
Bharti Airtel on Tuesday said it has acquired 355.45 MHz spectrum across Sub GHz, mid-band and 2300 MHz bands for a total consideration of Rs 18,699 crore in the latest spectrum auction conducted by the government that took place yesterday after five years. All of the spectrum will enable Airtel to deliver 5G services in future,' the telco said."This gives Airtel the most formidable spectrum holdings in the country. Airtel has now secured pan India footprint of Sub GHz spectrum that will help improve its deep indoor and in-building coverage in every urban town," the telco said in a regulatory filing. Airtel said the spectrum acquired through the latest auction will also help improve its coverage in villages by offering the superior experience to an additional 90 million customers in India. Read more

Closing Bell:Sensex gains 447 points, Nifty at 14919.10

Tuesday, March 2, 2021
At close, the Sensex was up 447.05 points or 0.90% at 50,296.89, and the Nifty was up 157.60 points or 1.07% at 14,919.10.M&M was the top Sensex gainer, followed by NTPC, Bajaj Auto, Tech M, Infosys, TCS, and Maruti Suzuki. On the downside, ONGC, HDFC, PowerGrid, Dr Reddy's Labs, and SBI were the only losers. About 1813 shares have advanced, 1138 shares declined, and 166 shares are unchanged. Nifty PSU Bank index closed in the red for the second straight day, down 0.04 per cent. On the higher side, the Nifty Auto and IT indices closed over 3 per ent higher each, while the Nifty Pharma, Realty, Private Bank, and FMCG indices ended up between 0.7 per cent and 1.5 per cent.BSE Midcap and Smallcap indices each added 1.5 per cent.

MARKET UPDATE:Sensex 540 points up at 50,390 and Nifty holding above the 14,900-mark

Tuesday, March 2, 2021
The markets in India extended their opening gains and were trading over 1 percent higher in today's(2nd March 2021) morning deals. The S&P BSE Sensex traded 540 points up at 50,390 and the Nifty50 index was holding above the 14,900-mark. Bajaj Finance rose 2 percent and was the top Sensex gainer, followed by Tech Mahindra, HDFC Bank, Infosys, and Mahindra & Mahindra (all up 1%). Among other individual stocks, BPCL rose 4 percent in early deals after the company said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore. All the Nifty sectoral indices, barring the Nifty Metal index, traded higher, led by the Nifty IT index, up 1.3 percent.

Closing Bell:Sensex gains 750 points, Nifty at 14761.55

Monday, March 1, 2021
At close, the Sensex was up 749.85 points or 1.53% at 49,849.84, and the Nifty was up 232.30 points or 1.60% at 14,761.50. HDFC HDFC Bank, Kotak Mahindra Bank, Asian Paints, L&T and ICICI Bank were the top gainers in the Sensex pack. while Bharti Airtel is the only loser. About 1921 shares have advanced, 1093 shares declined, and 189 shares are unchanged. Nifty Media index surged over 4 per cent followed by Nifty Auto, which ended up 2.38 per cent, Nifty Energy and Metal indices rose 2 per cent each. Except for the Nifty PSU Bank index, all the indices ended in the positive territory. The S&P BSE SmallCap index outperformed the benchmark index with a close at 20,475 levels, up 1.6 per cent. The S&P BSE MidCap index, on the other hand, closed at 20,257 levels, up 1.4 per cent.The volatility index, India VIX, cooled-off 9 per cent to end near 25.6 levels.

GDP and GVA giving conflicting signals on economic recovery during FY21?

Monday, March 1, 2021
In India, the GDP and the gross value added (GVA) seem to be giving conflicting signals on economic recovery during FY21. This happens because of the definition of these two numbers. For instance, GDP was projected to fall by 8 percent in the fiscal year 2020-21 (FY21) by the second advance estimates (AE), sharper than 7.7 percent by the first one. On the other hand, GVA is projected to fall 6.5 percent in the second estimate. The first estimates pegged the figure at less than 7.2 percent. Also, while GDP was projected to fall 1.1 percent in Q4, GVA was forecast to grow by 2.5 percent in the same quarter by the second AE. This mismatch happens due to a change in the definition of GDP in 2015 with effect from 2012-13 on the base year 2011-12. The revised method of GDP did not only change the base year, but also the way it is computed. Read more

Automobile industry records growth for the 7th straight month

Monday, March 1, 2021
In the Indian market passenger vehicle wholesale continued to grow year-on-year for the seventh straight month in February as demand for personal mobility remains strong during the pandemic despite soaring fuel prices. About 308,000 cars and SUVs were dispatched from factories to showrooms during February, a 23% growth over the preceding year, industry data show. Market leader Maruti Suzuki sold 144,700 passenger vehicles during the month, a year-on-year growth of 8%. Its market share improved by 116 basis points over January to 46.9% but was considerably lower than 53.3% achieved in February 2020. Hyundai Motor and Tata Motors sold 51,600 and 27,224 units during the month, growing by 29% and 119% over last year. Read more

MARKET UPDATE:Sensex rallied 600 points to 49,750 levels and the Nifty topped the 14,700-mark

Monday, March 1, 2021
The benchmark indices in India made a firm start to the first trading session of March, up over 1 percent, in early deals, on the back of upbeat global mood and the Q3 GDP print. The S&P BSE Sensex rallied 600 points to 49,750 levels and the Nifty50 index topped the 14,700-mark. ONGC, PowerGrid, and IndusInd Bank rose over 3 per cent, each, and were the top Sensex gainers. The Nifty sectoral indices were painted green, with the Nifty IT index, up 1.6 percent, leading the gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 1 percent and 1.3 percent, respectively.

Private sector investments will pick up soon, say experts

Saturday, February 27, 2021
Investments in India grew after a gap of three quarters, driven by the government, while demand contracted for the third consecutive quarter during October-December (Q3) of the financial year 2020-21 (FY21). Even then, investments remained subdued, growing by a marginal 2.56 percent in Q3FY21. It had started declining even before the pandemic started impacting India’s economy. Gross fixed capital formation (GFCF) contracted by 6.48 percent in Q4FY20. It plunged in Q1FY21 before returning to earlier levels in Q2. according to experts investments in Q3 were driven purely by the government. This is backed up by the data from the Centre for Monitoring Indian Economy (CMIE), which showed that investments in new projects declined to Rs 0.91 trillion in Q3, compared with Rs 1.15 in Q2. Investment activity reverted to growth, supported by high levels of public investment spending, said Rahul Bajoria, chief economist at Barclays India. Read more

India's GDP grows 0.4% in Q3 after shrinking for two quarters: NSO

Saturday, February 27, 2021
GDP of India returned to growth (0.4 percent)in October-December after two-quarters of contraction, the National Statistical Office (NSO) said yesterday (26th Feb.2021). In 2020-21, GDP is set to fall 8 percent against an earlier estimate of 7.7 percent, the release said. This is a “reflection of further strengthening of V-shaped recovery”, which began in Q2 of 2020-21, especially after a large GDP contraction in Q1 due to the lockdown, the Ministry of Finance said in a release. However, the cheer may not last because GDP is likely to fall 1.1 percent in Q4 if we triangulate the data available for the first three quarters with the annual estimate. A more surprising fact is that even this likely contraction in Q4 needs 29 percent real growth in government spending. Expenditure by the government fell in Q2 and Q3 when the private corporate and informal sectors in the economy were in pandemic pain, the data shows. Read more

What's behind Sensex's 1,939-point crash today

Friday, February 26, 2021
amid a global equity market rout. Benchmark indices tumbled over 4 percent in the intra-day trade with the S&P BSE Sensex sinking over 2,149 points while the Nifty50 tumbled over 629 points. The indices ended near the lowest point of the day, at 49,100 and 14,529 levels, respectively, down 1,939 points and 568 points or 3.8 percent. A rise in commodity prices has fanned inflation risks, pushing bond yields higher. That apart, reports that the United States launched airstrikes in Syria on Thursday, targeting facilities near the Iraqi border further dented global mood. Going forward, analysts expect the markets to consolidate after a sharp run since March in the backdrop of near-term headwinds. US Treasury yields vaulted to their highest in a year on expectations of a strong economic expansion and related inflation. Back home, the 10-year government bond yield jumped to 6.18 percent on Thursday, February 25. Read more

Closing Bell:Sensex down 1939 points, Nifty at 14529.15

Friday, February 26, 2021
At close, Sensex was 1,939 points, or 3.80 per cent, down at 49,099.99 while Nifty was at 14,529.15, down 568 points or 3.76 per cent. ONGC was the worst performer, followed by Mahindra & Mahindra, Bajaj Finserv, Bajaj Finance, Grasim and Axis Bank. Small-cap stocks held their ground relatively better as the S&P BSE SmallCap index settled only 0.7 per cent down. The S&P BSE MidCap index, on the other hand, ended 1.75 per cent lower. Nifty Bank tanked 4.63%, along with a 4.86% fall in Nifty Financial Services. The Nifty Metal and Auto indices dropped 3 per cent while the Nifty FMCG, IT, and Pharma indices slipped 2 per cent each. Volatility spiked to an eight-month high of 28.05 points, jumping 22.54%.

Surge in bond yields and rising commodity prices may cause limited upside for the equity markets

Friday, February 26, 2021
A sharp surge in bond yields and rising commodity prices have come back to haunt equity markets, with most analysts expecting a limited upside for the equity markets. Today(26th Feb.2021), Asian stocks traded sharply lower after Wall Street's main indexes tumbled, with technology-related stocks under pressure following a steep rise in benchmark US Treasury yields, which hit their highest level since the pandemic began – up 14 basis points (bps) at 1.5286 percent. The surge came on the back of expectations of a strong economic expansion and related inflation. “In line with the global trend, Indian yields have definitely bottomed out. Since the expansionary budget in February, Indian 10-year is up 28 bps to 6.18 percent despite RBI’s verbal and explicit market support. The gap between earnings yields (1/Nifty one-year forward PE) to 10-year bond yield is now at 156bps, which is 57bps higher than the long-term average,” said an expert. Read more

India may beat recession even as new virus cases loom

Friday, February 26, 2021
some of the gains. However, Data shows gross domestic product expanded 0.6% in the three months ended December, after contracting for two consecutive quarters, according to the median forecast in a Bloomberg survey of economists. That will help Asia’s third-largest economy exit an unprecedented recession. India will become one of the few major economies to post growth in the last quarter of 2020, with any improvement in the economy’s performance inversely tied to a drop in Covid-19 infections. But the nation has seen an uptick in cases over the last few weeks raising the risk of a new round of localised lockdowns. New curbs on the movement of people or restrictions on businesses are a risk to the nascent recovery, given that gains in the October-December quarter probably came from the reopening of the economy, which is primarily driven by domestic consumption. The government also boosted spending in the final months of last year to spur growth. Read more

MARKET UPDATE:Sensex tumbled 700 points and hovered around 50,340-mark ;Niftyfell below the 14,900 level

Friday, February 26, 2021
The markets in India dropped over 1 percent in today's(26th Feb.2021) morning deals, tracking a similar feeble trend in the global markets amid continued sell-off in bond markets. Volatility index, India VIX, meanwhile shot up 10 percent. The S&P BSE Sensex tumbled 700 points and hovered around 50,340-mark while the Nifty50 index fell below the 14,900 level. ICICI Bank, IndusInd Bank, and Axis Bank fell 3 percent each and were the top Sensex laggards. The Nifty sectoral indices were painted red, with the Nifty Bank index, down over 2 percent, bleeding the most. The damage was relatively contained in the broader markets, where the S&P BSE MidCap and SmallCap indices were trading 0.5 percent and 0.3 percent lower, respectively. RailTel Corporation of India will list its shares at the bourses today. The issue price has been fixed at Rs 94 per share.

India's fiscal position to remain weak: Moody's

Thursday, February 25, 2021
According to the Global rating agency, Moody's India's weak fiscal position will remain a key credit challenge in 2021. Also, the prospects for fiscal consolidation remain weak. Meanwhile, Icra, Moody's Indian affiliate, said it expects a considerable rebound in India's economic growth in the fiscal year ending March 31, 2022 (FY22) on the back of higher central government spending, and a pick-up, albeit uneven, in consumption. Overall, Icra projects that real GDP will rise 10.5 percent in FY22 and nominal GDP by 14.5 percent for fiscal 2022 as the pandemic recedes. Moody's said the central government's fiscal deficit for FY21 and FY22 should be lower than projected. This is on the back of stronger revenue generation in the fourth quarter of fiscal 2021 and higher nominal GDP growth in fiscal 2022. Read more

Carlyle is the sole bidder to acquire Mphasis from Blackstone

Thursday, February 25, 2021
Carlyle Group has emerged as the sole bidder to acquire Blackstone Group-owned Mphasis in what would be the largest buyout in the Indian IT industry, according to some sources. The offer to buy Blackstone’s controlling 56.12% stake is believed to be at Rs 1,450-1,500 a share—lower than Mphasis' closing share price of Rs 1,701.70 on 23rd Feb.2021. The transaction that will lead to a change of control will also trigger an open offer for an additional 26% shareholding of the company. At the higher end of Carlyle’s bid, Blackstone will receive Rs 15,730 crore (more than $2 billion) for its stake in Mphasis—a 12% discount to its current holding valued at Rs 17,838 crore. Depending on the success of the open offer, Carlyle might have to shell out another Rs 7,400 crore based on the 60-day average price of Rs 1,538 a share. Read more

MARKET UPDATE:Sensex zoomed 400 points to 51,210 levels and Nifty reclaimed the 15,100-mark

Thursday, February 25, 2021
The markets in India traded nearly 1 percent higher in Today's(25th Feb.2021) morning deals ahead of the February series derivative contracts expiry. Among the headline indices, the S&P BSE Sensex zoomed 400 points to 51,210 levels and the Nifty50 index reclaimed the 15,100-mark. Axis Bank rose 3 percent and was the top Sensex gainer after the Irdai gave its approval for the acquisition of up to 12 percent stake in Max Life Insurance by the bank and its subsidiaries. Max Financial, meanwhile, rallied 10 percent in intra-day deals. Meanwhile, Nureca listed at Rs 635 apiece, a premium of 59 percent against the issue price of Rs 400. The Nifty sectoral indices were painted green, with the Nifty Private Bank index, up 2 percent, leading the way.

National Stock Exchange halted trading after glitch freezes stock prices

Wednesday, February 24, 2021
The National Stock Exchange (NSE), India’s largest stock exchange, today(24th Feb.2021) abruptly shut its cash and derivatives segment following a glitch that froze stock prices. Trading was halted at 11:40 am. Stock and index prices had stopped updating from 10:08 am, said market participants. "NSE has multiple telecom links with two service providers to ensure redundancy and we have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system. We are working on restoring the systems as soon as possible. In view of the above all the segments have been closed at 11.40 and will be restored as soon as the issue is resolved,” said a spokesperson of the exchange. Indices turned volatile in the afternoon trade after the National Stock Exchange (NSE) resumed trading after an over three-hour-long halt due to a technical glitch. Markets shall remain open for trade till 5 PM today

RBI Governor voices ‘major concerns’ about cryptocurrency

Wednesday, February 24, 2021
The RBI is concerned over the impact cryptocurrencies may have on the financial stability in the economy and has conveyed the same to the government, Governor Shaktikanta Das said today(24th Feb.2021). "We have certain major concerns about cryptocurrencies. We have communicated them to the government. It is under consideration in the government and I do expect and I think sooner or later the government will take a call and if required Parliament also will consider and decide," he said in an interview with CNBC-TV18. "I want to make it clear that blockchain technology is different. Blockchain technology benefits have to be exploited, that is another thing. But on crypto, we have major concerns from the financial stability angle and we have shared it with the government. The government will consider and take a call," Das said. Read more

MARKET UPDATE: Sensex traded around 49,950 levels, up 200 points, and Nifty holding above the 14,750-mark

Wednesday, February 24, 2021
The benchmark indices in India traded higher in today's(24th February 2021) volatile early deals, with metal stocks continuing their rally. The S&P BSE Sensex traded around 49,950 levels, up 200 points, or 0.4 percent, and the broader Nifty50 index was holding above the 14,750-mark. ONGC, Bajaj Finance, and Axis Bank (all up over 1%) led the way for the Sensex gainers, while tech stocks TCS and Infosys slid 1 percent, each. Among other individual stocks, Tata Consumer Products surged 4 percent and hit a fresh lifetime high after it was announced that it will replace Gail India in the benchmark Nifty 50 index, effective from March 31. All the Nifty sectoral indices, barring the Nifty IT index-down 0.8 percent, traded with gains.

RIL gets Sebi approval to hive off O2C business into independent subsidiary

Tuesday, February 23, 2021
Reliance Industries Limited (RIL), which has proposed hiving off its oil to chemicals (O2C) business into an independent subsidiary, today(23rd Feb.2021) said it had received approval from the Securities and Exchange Board of India (Sebi) and stock exchanges to create this subsidiary. The company now requires the approval of equity shareholders and creditors, regulatory authorities, and the income-tax authority, besides the National Company Law Tribunals (CLTs) in Mumbai and Ahmedabad. RIL said the approval process had commenced and was expected to be completed by the second quarter of the 2021-22 financial year. Read more

Tata Motors, Tata Motors DVR gain up to 8%

Tuesday, February 23, 2021
Shares of Tata Motors edged higher by 8 percent to Rs 329 on the BSE in intra-day trade today(23rd Feb.2021) on the back of heavy volumes after the company outlined an ambition to reach double-digit commercial vehicle (CV) margins and high single-digit passenger vehicle (PV) margins in coming years. It maintained plans to attain zero debt (excluding leases) by FY24 through strong operating cash flows and divestments. In its virtual 2021 investor event for Indian operations, Tata Motors guided for sustainable free cash flow (FCF) generation in CVs and PVs (from FY24E onwards for the latter). The company said CV demand tailwinds are converging but peak industry volumes are two to three years away and the company would continue to lead 4-W electrification in India. Read more

Closing Bell:Sensex ends flat, Nifty at 14707.80

Tuesday, February 23, 2021
At close, the Sensex was up 7.09 points or 0.01% at 49,751.41, and the Nifty was up 32.10 points or 0.22% at 14,707.80.ONGC was the top gainer followed by L&T and IndusInd Bank. On the downside, Kotak Mahindra Bank, Maruti Suzuki, HDFC Bank and Bajaj Auto ended the day as top laggards. About 1657 shares have advanced, 1213 shares declined, and 158 shares are unchanged. Bank Nifty, Nifty PSU Bank, NIFTY Private Bank, and Nifty Pharma closed with losses. On the upside, the Nifty Metal index jumped 3.8 per cent while the Nifty Realty index closed 2.6 per cent at close. The Nifty MidCap 100 and SmallCap 100 indices settled with gains of about 1 per cent on the NSE.

India to clear 45 investments from China

Monday, February 22, 2021
India may clear 45 investment proposals from China, which are likely to include those from Great Wall Motor and SAIC Motor Corp, according to government and industry sources, as military tensions between the two countries ease at the disputed border. The proposals have been held up since last year after India tightened controls on Chinese investment in the country in retaliation against alleged Chinese troop incursions in the western Himalayan region. China blamed Indian troops for the standoff. About 150 investment proposals from China worth more than $2 billion were stuck in the pipeline. Companies from Japan and the U.S. routing investment through Hong Kong were also caught in the cross-fire as an inter-ministerial panel led by the home ministry increased scrutiny of such proposals. Read more

India recorded a steady rise in the Covid-19 active cases over the past few days

Monday, February 22, 2021
India has recorded a steady rise in the Covid-19 active cases over the past few days. On 21st Feb.2021 (Sunday), the country registered 14,199 fresh Covid-19 cases. Active cases in India have risen to 150,055, while the caseload tally has crossed the 11-million mark. The country continues to be second-most-affected globally and ranks 14th among worst-hit nations by active cases. Till February 21, a total of 11,116,854 vaccine doses have been administered through 230,888 sessions. Maharashtra, which recorded 6,900 new cases, has announced a state-wide ban on social, political, and religious gatherings, besides imposing fresh local lockdowns or curbs in districts like Pune and Amravati. The five most affected states by total cases are Maharashtra (2,093,913), Kerala (1,034,657), Karnataka (948,149), Andhra Pradesh (889,298), and Tamil Nadu (848,275) Read more

Closing Bell:Sensex down 1145 points, Nifty at 14675.70

Monday, February 22, 2021
At close, the Sensex was down 1,145.44 points or 2.25% at 49,744.32, and the Nifty was down 306.10 points or 2.04% at 14,675.70.ONGC, HDFC Bank, Kotak Mahindra Bank, Asian Paints, Ultratech Cement, and Infosys were the only Sensex stocks to trade in the green.L&T and Mahindra & Mahindra, Dr Reddy’s Labs, ITC were the top drags. About 1030 shares have advanced, 1942 shares declined, and 151 shares are unchanged. Nifty metal up 1.6 per cent. On the downside, the Nifty Realty, PSU banks, Pharma, IT, and Media indices declined by 3 per cent, while the Nifty Private Bank, FMCG, Financial Services, and Banks' index closed 2 per cent down. The S&P BSE MidCap and SmallCap indices closing 1.34 per cent and 1 per cent down, respectively. India VIX was up 5% sitting above 23 levels.

MARKET UPDATE: Sensex fell to 50,480 levels, down 400 points and the Nifty gave up the 15,000-mark

Monday, February 22, 2021
The markets in India slid in the early deals of today's(22nd February 2021) volatile session, with public sector banks being the top drags. Among the headline indices, the S&P BSE Sensex fell to 50,480 levels, down 400 points and the Nifty50 index also gave up the 15,000-mark shortly after reclaiming it in the opening deals. IndusInd Bank, Bajaj Auto, Larsen & Toubro, PowerGrid, and HDFC were all down over 1 percent. The Nifty sectoral indices, barring the Nifty Metal index, were painted red. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 0.13 percent and 0.3 percent, respectively.

250-billion-rupee govt fund for finishing stalled housing projects begins to pay off

Friday, February 19, 2021
A 250-billion-rupee fund set up by GOI to complete stalled housing projects is set to deliver its first finished apartments in 2021, offering a template for a problem that has washed out savings of thousands of home buyers and bankrupted developers. The fund will hand over some 16 projects or more than 4,000 homes in the financial year starting April 1, said Irfan A. Kazi, chief investment officer at SBICAP Ventures Ltd., the government-appointed manager of the alternative investment fund. The ‘Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects’ (SWAMIH) fund was announced in November 2019.

Closing Bell:Sensex down 434.93 points, Nifty at 14981.75

Friday, February 19, 2021
At close, the Sensex was down 434.93 points or 0.85% at 50,889.76, and the Nifty was down 137.20 points or 0.91% at 14,981.80. ONGC was the top loser, followed by State Bank of India (SBI), Axis Bank, ICICI Bank, Bajaj-Auto, Maruti Suzuki. On the flip side, IndusInd Bank, Hindustan Unilever Ltd (HUL), Reliance Industries Ltd (RIL) and TCS were among other gainers. About 1175 shares have advanced, 1727 shares declined, and 170 shares are unchanged.ll sectoral indices ended in the red with the PSU bank index down 4.7 per cent, while the auto, bank, infra, metal and pharma indices shed 1-2 per cent.. The S&P BSE MidCap index underperformed on the BSE and 1.7 per cent down today. The SamllCap counterpart, meanwhile, settled at 0.7 per cent down.

SBI Cards m-cap is now more than that of Tata Motors, Shree Cement, and JSW Steel

Friday, February 19, 2021
With a market-capitalisation (m-cap) of Rs 1.02 trillion, the State Bank of India-arm SBI Cards and Payment Services today(19th February 2021) stood at 34th position in the overall m-cap ranking, BSE data showed. The firm’s m-cap is now more than that of Tata Motors, Shree Cement, and JSW Steel. With the government's push towards digitalisation, coupled with developments in e-commerce and growth in POS infrastructure, India is gradually shifting towards a cashless economy. This and recovery from the Covid-19 pandemic are some of the factors fuelling the rally in the stock price, analysts say. “With the focus now on growth, SBI Cards will be an early beneficiary as the economy recovers on the back of being a play on rising discretionary spends and non-cash economy, the broad reach of parent SBI, under-utilised captive Banca potential, and leadership in co-branded cards,” says an expert. Read more

MARKET UPDATE: Sensex fell 250 points to 51,080 levels and the Nifty gave up the 15,100-mark

Friday, February 19, 2021
The markets in India slid nearly half a percent in today's(19th February 2021) early deals, amid subdued global trends, although gains in Reliance Industries and public sector banks helped benchmark indices cap losses. The S&P BSE Sensex fell 250 points to 51,080 levels and the Nifty50 index gave up the 15,100-mark. PowerGrid and ICICI Bank declined 2 percent, each, and were the top Sensex laggards, followed by NTPC, Bajaj Auto, and State Bank of India (all down 1%). On the other hand, Reliance Industries, and Hindustan Unilever ticked up over 1 percent, each. The majority of the Nifty sectoral indices were painted red, although the Nifty PSU Bank index bucked the trend and was up 1.2 percent. Mahindra CIE Automotive, Asian Tea & Exports, Binani Industries, Chromatic India, Sunedison Infrastructure, Uniply Decor, Uniply Industries, and Uniworth Securities are scheduled to announce their quarterly earnings today.

Finace Ministry asks RBI to ensure a higher dividend in FY22

Thursday, February 18, 2021
The finance ministry has asked the RBI to make every effort to secure a higher dividend for the government in the financial year 2021-22 (FY22), despite sliding interest rates globally, sources said. It has also sought the RBI’s advice on gold monetisation. In the correspondence and discussions between the two, the RBI has advised against any change in the inflation goalposts. RBI Governor Shaktikanta Das has assured Finance Minister Nirmala Sitharaman that the Rs 12.05-trillion gross borrowing programme for FY22 will go through smoothly. To ensure it, the RBI team has, however, cautioned the government against any dilution of the inflation management policies, and the targets under the monetary policy framework, sources said. Read more

Nomura ups rating on Indian equities to overweight in Asia

Thursday, February 18, 2021
Nomura has raised its rating on Indian equities to ‘overweight’ in its Asia ex-Japan portfolio. Nomura is now much less concerned about two of the central issues that plagued India – India’s limited fiscal space and vulnerability from Covid-19. The recent developments, it said, have surprised them. However, Nomura does caution that the execution of Budget and other policy proposals remains one of the key risks. “A number of recent positive developments in India lead us to change our stance to an Overweight (from Neutral) in our regional Asia-ex-Japan (AeJ) allocation. We view India as a counterweight to North Asia as a large liquid market that – despite its strong run recently – does provide a hedge in portfolios. We are modestly reallocating to India from Korea – although we remain Overweight on Korea (alongside China and Indonesia),” wrote Chetan Seth and Nirransh Jain of Nomura in a February 17 co-authored report. Read more

Closing Bell:Sensex down 379 points, Nifty at 15118.95

Thursday, February 18, 2021
At close, the Sensex was down 379.14 points or 0.73% at 51,324.69, and the Nifty was down 89.90 points or 0.59% at 15,119. Bajaj Finance was the top loser followed by Kotak Mahindra Bank, Mahindra & Mahindra (M&M), ICICI Bank, Housing Development Finance Corporation (HDFC), and Nestle India. On the flip side, ONGC was the top gainer followed by NTPC, Asian Paints, Tech Mahindra and Tech Mahindra. About 1609 shares have advanced, 1316 shares declined, and 151 shares are unchanged. Sectorally, Nifty PSU Bank, Nifty IT and Nifty Metal indices ended up 5.6 per cent, 1.33 per cent and 1.31 per cent, respectively. On the downside, the Nifty Financial Services, Auto, and Private Bank indices slipped up to 1.5 per cent each. The S&P BSE SmallCap index moved closer to record high levels and the S&P BSE MidCap, on the other hand, closed at 20,376 levels, up 0.7 per cent.

MARKET UPDATE: Sensex up 60 points at 51,760 levels and the Nifty holding above the 15,200-mark

Thursday, February 18, 2021
The benchmark indices in India traded flat with a positive bias in today's(18th February 2021) early deals, ahead of the weekly options expiry, on the back of mixed global cues. Among the headline indices, the S&P BSE Sensex was up 60 points at 51,760 levels and the Nifty50 was holding above the 15,200-mark. ONGC gained 3 percent and was the top Sensex gainer, followed by State Bank of India which rose 2 percent. On the other hand, ICICI Bank and Bajaj Finance fell over 1 percent, each. The Nifty sectoral indices traded mixed, with the Nifty PSU Bank index, up 3 percent, leading the gainers. Ambuja Cements, Enkei Wheels, RCL Retail, Rollatainers and Twinstar Industries are scheduled to announce their quarterly earnings today.

Closing Bell:Sensex down 400 points, Nifty at 15208.90

Wednesday, February 17, 2021
At close, the Sensex was down 400.34 points or 0.77% at 51,703.83, and the Nifty was down 104.60 points or 0.68% at 15,208.90. HDFC Bank, Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank, TCS, Infosys and Hindustan Unilever Ltd (HUL), were the top gainers in the Sensex pack. While Nestle, Maruti Suzuki, Asian Paints, Bajaj Finserv, HDFC Bank, and IndusInd Bank were the top losers on the BSE. About 1480 shares have advanced, 1422 shares declined, and 144 shares are unchanged. Nifty IT and Pharma indices were down 1.3 per cent and 1.7 per cent down, respectively. The Nifty Financial Services and FMCG indices, too, ended up to 1 per cent down. On the upside, the Nifty PSU bank index settled around 6 per cent higher on privatisation hopes.S&P BSE MidCap index was up 9 points at 20,237, while S&P BSE SmallCap index rose half a per cent or 105 points to settle at 19,883.

Sharper-than-expected economic recovery can fuel further rally in domestic cyclicals, industrials, and financials

Wednesday, February 17, 2021
Investors are now betting big on cyclical recovery after a sharp economic contraction with most of the related stocks doing well at the bourses after playing safe during the initial phase of the pandemic in 2020 and sticking to defensive plays such as pharmaceuticals, fast-moving consumer goods (FMCG) and information technology (IT). Till June-July, defensive sectors like pharma and FMCG were leaders, followed by IT, as investors wanted to play safe given the uncertainty around the pandemic, its impact on the economy, and the fortunes of India Inc, analysts say. From August – September, cyclical like auto and banking & financials picked up the pace. Post budget, infrastructure, industrials, and stocks of public sector undertakings (PSUs) have rallied. Read more

MARKET UPDATE: Sensex fell 200 points at 51,870, and Nifty gave up the 15,300-mark

Wednesday, February 17, 2021
The markets in India slid in today's(17th February 2021) early deals after opening lower, tracking similar cues from other Asian markets. The S&P BSE Sensex fell 200 points at 51,870, and the Nifty50 index gave up the 15,300-mark. Nestle fell 3 percent post the December quarter results and was the top Sensex laggard, followed by ONGC, HDFC, and PowerGrid (down 1 percent, each). The majority of the Nifty sectoral indices, barring two, were trading in the red, with the Nifty Financial Services index dipping 0.6 percent. The broader markets, meanwhile, outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.3 percent and 0.4 percent up, respectively. Pasupati Spinning, Sanghvi Forging and Engineering, SR Industries, Uniply Decor, and Uniply Industries are set to announce their quarterly earnings today.

SC upholds validity of e-voting for winding up Franklin Templeton's 6 MFs

Friday, February 12, 2021
The Supreme Court today(12th Feb.2021) upheld the validity of the e-voting process for winding up of six mutual fund schemes of Franklin Templeton and said disbursal of funds to unitholders will continue. A bench of justices S A Nazeer and Sanjiv Khanna, while rejecting the opposition by some unitholders to the e-voting process, said disbursal of funds has to be done as per the earlier order of the apex court. The top court had on February 2 ordered that Rs 9,122 crore be disbursed within three weeks to the unitholders of Franklin Templeton's six mutual fund schemes which are proposed to be wound up. It had said that disbursal of money would be done in proportion to unitholders' interest in the assets. Earlier, the apex court had asked the Securities and Exchange Board of India (SEBI) to appoint an observer for overseeing the e-voting process. Read more

India is Asia's best post-Covid recovery story: Chris Wood

Friday, February 12, 2021
Christopher Wood, global head of equity strategy at Jefferies has reiterated his bullish view on Indian equities due to a steady fall in Covid cases coupled with a sharp economic recovery in India. In December 2020, Wood raised exposure to Indian equities twice in his Asia ex-Japan long-only portfolio. “With Covid cases in India now 88 percent off their peak amid growing hopes of herd immunity, India looks right now Asia’s best post-Covid recovery story,” Wood wrote in his weekly note to investors, GREED & fear. For the stock market to have a real nasty unwind at the global level rather than just a bull market correction, Wood believes there needs to be a catalyst in the form of an economic downturn or a material tightening in the US Federal Reserve's (US Fed) policy. He ruled out the possibility of either of these catalysts materialising. Read more

MARKET UPDATE: Sensex traded 200 points up at 51,720, Nifty topped 15,200

Friday, February 12, 2021
The markets in India added to their early gains in today's(12th February 2021) late morning deals, with IT stocks and private banks doing the majority of the lifting. The S&P BSE Sensex traded 200 points up at 51,720, and the broader Nifty50 index topped 15,200. ITC fell 3 percent after announcing its December quarter results and was the top Sensex laggard. On the other hand, IT stocks, including Infosys, HCL Tech, and Tech Mahindra ticked up 1 percent, each. The trend among Nifty sectoral indices was mixed, with the Nifty IT index, up 1.1 percent, leading the gainers. In the broader markets, the S&P BSE MidCap index fell 0.3 percent while the SmallCap index rose 0.2 percent. Nine hundred and fifty-three companies, including Grasim Industries, Bharat Forge, Glenmark Pharmaceuticals, Apollo Hospitals, and Mazagon Dock Shipbuilders, are set to announce their quarterly earnings today.

SBI stock may rally another 40% after hitting record high

Thursday, February 11, 2021
SBI with nearly 20-25 percent market share which recorded a beat on its quarterly earnings, feat is sure to invite re-rating from analysts. The series of price-target upgrades continued for the sixth consecutive quarter for the state-owned lender as it reported a 7 percent decline in net profit at Rs 5,196 crore for the quarter ended December 2020. That compares with the Rs 4,479-crore consensus estimate of analysts tracked by Bloomberg. On the asset quality front, SBI’s gross non-performing asset ratio stood at 4.77 percent compared with 5.28 percent in the preceding three months. Moreover, its net NPA ratio was at 1.23 percent, down 36 basis points sequentially. Analysts had expected GNPAs to rise to over 6 percent. Such a healthy performance, analysts say, should help the bank reach a 10 percent return in equity (RoEs) over the next 2 years. Read more

Britannia shares dipped post Q3 results

Thursday, February 11, 2021
After Britannia announced its December quarter results for FY21 (Q3FY21) on February 5, 2021, the FMCG firm's stock has lost 3.2 percent in the four trading sessions since 10th Feb., as compared to the benchmark S&P BSE Sensex's 1.13 percent gain in the same period. Analysts said that Britannia's sales growth of 6 percent in the quarter under review was "disappointing", even though margin gains remained strong. "Slowdown in sales growth was due to sluggish category trends in MT and reversal of higher in-home consumption demand seen in Q1, with consumer shifting to other snacking options. Commentary indicated a gradual recovery in growth to pre-Covid levels. We cut our FY21-23 estimates marginally by 2-4 percent on account of a sequential slowdown in growth. We expect re-opening of schools/offices to drive on-the-go consumption and improve growth," the brokerage said, adding that it maintains 'Buy' with a revised target price of Rs 4,500.

Closing Bell:Sensex gains 222 points, Nifty at 15173.30

Thursday, February 11, 2021
At close, the Sensex was up 222.13 points or 0.43% at 51,531.52, and the Nifty was up 66.80 points or 0.44% at 15,173.30. Reliance Industries was the top Sensex gainer, jumping 4%. This was followed by Sun Pharma, Power Grid, and Bajaj Finance. Titan and Larsen & Toubro, HDFC Bank, ITC, and ONGC were the top indexes drags. About 1711 shares have advanced, 1229 shares declined, and 133 shares are unchanged. Nifty PSU Bank index declined over 1 per cent on the NSE, followed by losses in the Nifty Auto index down 0.4 per cent, and the Nifty Realty index down 0.24 per cent. On the upside, the Nifty FMCG index and the Nifty Metal index closed 0.85 per cent higher each. The BSE SmallCap index gained with 1.06 per cent while the BSE MidCap index settled 0.45 per cent higher.

MARKET UPDATE: Indices volatile;Sensex trading around 51,280 levels and the Nifty hovered around 15,100

Thursday, February 11, 2021
The benchmark indices in India fluctuated between gains and losses in today's(11th February 2021) early morning deals, ahead of the weekly options expiry. The S&P BSE Sensex was trading around 51,280 levels, down 30 points while the broader Nifty50 index hovered around 15,100. Titan slid 2 percent after the announcement of its December quarter results and was the top Sensex laggard, followed by ONGC, Mahindra & Mahindra, and HDFC (all down over half a percent). Among other individual stocks, Magma Fincorp rallied 10 percent on a report that Adar Poonawalla-controlled Rising Sun Holdings will acquire a 60 percent stake in the non-banking financial company by subscribing to a Rs 3,456-crore preferential issue. The Nifty sectoral indices were trading mixed, with the Nifty Auto index, down 0.7 percent, being the worst-performer. Read more

Closing Bell:Sensex down 20 points, Nifty at 15106.50

Wednesday, February 10, 2021
At close, the Sensex was down 19.69 points or 0.04% at 51,309.39, and the Nifty was down 2.80 points or 0.02% at 15,106.50. Axis Bank, HDFC Bank, ONGC, PowerGrid, and L&T were the top losers. Bajaj Finserv, M&M, Bajaj Finance, Titan, TCS, and Reliance Industries were top gainers. About 1455 shares have advanced, 1454 shares declined, and 161 shares are unchanged. The nifty auto index rose 1 per cent The Nifty Realty index closed 1.6 per cent higher, followed by gains in the Nifty Pharma. While the Nifty Bank and the Nifty Private Bank indices ended 0.7 per cent down. The S&P BSE MidCap and SmallCap indices added 0.7 per cent and 0.4 per cent, respectively at the close.

Why investors are staying away from equity MFs ?

Wednesday, February 10, 2021
Despite a strong rally in the market, investors have pulled out money from mutual funds for the seventh straight month in January. According to the recent data by the Association of Mutual Funds in India (Amfi), equity mutual funds have witnessed net outflows of Rs 9,253 crore last month, taking the total outflows to Rs 42,200 crore since July. While the pace of outflows has peaked since November, when investors had redeemed investments worth Rs 12,917 crore, the phenomenon continues on Dalal Street. This is when BSE barometer Sensex has rallied 32 percent between July 2020 and January 2021. Some might argue that a sharp rally in the markets is what has persuaded investors to take money off the table and re-enter at a more opportune time, but analysts don't believe the reason to be this straight forward. Analysts believe lack of a decent performance by mutual funds over the last 3-4 years is one crucial factor why investors are fleeing from equity funds. Read more

Deadline for Vodafone Idea’s funding talks extended

Wednesday, February 10, 2021
The deadline for exclusive talks between Vodafone Idea and a foreign lenders’ consortium led by Oak Hill Advisors for finalising the terms of a $2-billion credit line for the telco has been extended to February 28 from January 31, according to some sources. “The lock-in for exclusive talks has been extended as lenders are keen to close the deal but also want some safeguards and business milestones in place to protect their potential investments, especially as Vi’s financial struggles seem far from over as it continues to lose revenue and users,” according to the sources.

Small-caps could power the market rally in coming days

Wednesday, February 10, 2021
The recovery of the stock market in the past 11 months has been astonishing. Despite an economic contraction, the National Stock Exchange (NSE) Nifty and BSE Sensex have hit all-time highs and the big stock indices have roughly doubled from the lows hit after the announcement of the first lockdown in March 2020. Given the visibility of continuing corporate recovery, and a Budget perceived as market-friendly, could the markets see a further rally? Although valuations are high, there are supporting factors to sustain a continuing rally. Moreover, that rally is likely to see outperformance from smaller stocks, especially the small-caps. There’s been a strong recovery in all three indices since the March 2020 lows. The Nifty has returned 96 percent, as mentioned, while Mid-caps have returned 98.5 percent and the Small-caps a whopping 118 percent. Read more

MARKET UPDATE: Indices volatile;Sensex traded around 51,380 levels and the Nifty near the 15,100 mark.

Wednesday, February 10, 2021
The markets in India fluctuated between gains and losses after opening little changed today(10th February 2021), amid mixed cues from their Asian peers. Among the headline indices, the S&P BSE Sensex traded around 51,380 levels, up 50 points and the Nifty50 index was near the 15,100 marks. PowerGrid, Tech Mahindra, Infosys, and Larsen & Toubro fell 1 percent, each, and were the top Sensex laggards. On the other hand, Bajaj Finserv (up 2%) was the top gainer. The Nifty sectoral indices were trading mixed, with gains in the Nifty Metal index, up 0.6 percent, offsetting the losses in the Nifty Bank index, down 0.5 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.4 percent and 0.3 percent higher, respectively. Three hundred and thirty companies, including Eicher Motors, Titan Company, GAIL India, Hindalco Industries, and Aurobindo Pharma are set to announce their quarterly earnings today.

Closing Bell: Sensex down 19 points, Nifty at 15109.30

Tuesday, February 9, 2021
At close, the Sensex was down 19.69 points or 0.04% at 51,329.08, and the Nifty was down 6.50 points or 0.04% at 15,109.30. Asian Paints was the top Sensex gainer, followed by ONGC and Titan. Mahindra & Mahindra, Sun Pharma, and ITC were the top drags. About 1279 shares have advanced, 1634 shares declined, and 184 shares are unchanged. Except for energy and infra, all other sectoral indices trading in the red. The Nifty Auto, Metal, and Pharma indices settled over 1 per cent lower each, and Nifty Realty Index were down 0.70 per cent and the Nifty FMCG index down 0.60 per cent. The S&P BSE MidCap index down 0.18 per cent, while the S&P BSE SmallCap index closed 0.26 per cent down.

Apple supplier Wistron may restart Karnataka factory next week

Tuesday, February 9, 2021
Apple Inc supplier Wistron Corp could restart operations somewhere next week at its factory in southern India which was damaged during staff protests in December, according to sources. The Wistron plant in the Narasapura industrial area of Karnataka state was shut after contract workers angry over unpaid wages destroyed property, equipment, and iPhones on Dec. 12, causing millions of dollars in losses to the Taiwanese company. Apple put Wistron on probation after its audit of the plant found violations of 'Supplier Code of Conduct'. A reopening of the plant would require Apple's approval, a fourth source said. "Wistron reconstruction is nearing completion... and iPhone production will very likely begin next week," one of the sources said. Wistron, which assembled the second-generation iPhone SE at the site and was expected to start making newer models, would gradually ramp up production at the factory over the next few weeks, two of the sources said.

Risks that may halt the current bull-run in the markets

Tuesday, February 9, 2021
As the Budget gave the necessary booster shot to a dilapidated Indian economy Market's wealth has been soaring at the bourses. The budget with infrastructure programs, privatisation proposals, a nod to public sector banks’ recapitalisation, and no changes in the direct tax regime, proved to be one of the “best in decades” for the economy. At the bourses, frontline indices are hitting record highs every day. With today’s gains, the S&P BSE Sensex and the Nifty50 are up over 11 percent since January 29 and have more-than-doubled since their March 2020 lows. The BSE barometer of 30 constituents hit a new lifetime peak of 51,753 today while the broader 50-share Nifty hit 15,238. From a medium-term perspective, Morgan Stanley sees the Sensex hitting the 55,000-mark by the end of 2021. Read more

MARKET UPDATE: Sensex up 360 points at 51,700 levels and the Nifty hit the 15,200-mark

Tuesday, February 9, 2021
The benchmark indices in india extended their winning run and scaled fresh lifetime highs in today's(9th Feb.2021) morning deals, lifted mainly by tech stocks, after opening higher for the seventh straight day. Among the headline indices, the S&P BSE Sensex was up 360 points at 51,700 levels and the Nifty50 hit the 15,200-mark. HCL Tech, Infosys, Titan, ONGC, and UltraTech Cement were all up 1 per cent, each. On the other hand, State Bank of India, Axis Bank, and Bajaj Finserv fell 1 per cent, each. The majority of the Nifty sectoral indices were trading in the red, with Nifty PSU Bank index slipping 1.4 per cent. Two hundred and eighteen companies, including Tata Steel, Adani Ports, Berger Paints India, and Burger King India are set to announce their quarterly earnings today.

Rajyasabha-PM Modi asks farmers to end protests

Monday, February 8, 2021
Prime Minister Narendra Modi today (8th February 2021) slammed those calling agitating Sikh farmers names, saying it won't do the country any good as he went on to appeal to the protesting farmers to withdraw they are over two-month-long stir and give the new agriculture reform laws a chance. He also slammed the politics over the farm laws, saying opposition parties were mum over the reasons for the agitation. Punning on the term FDI, which stands for Foreign Direct Investment, Modi said a new thing of FDI has emerged in India, which he said was Foreign Destructive Ideology."We need to be more aware to save the country from such an ideology," he said while replying to a discussion in Rajya Sabha on a motion thanking the President for his address to the joint sitting of Parliament at the start of the Budget session. He also slammed the mushrooming of a new breed of 'Andolan-jivi' - professional protestors-who can be seen at every agitation. Read more

Dixon Technologies to produce 50 million smartphones this year

Monday, February 8, 2021
Vachani’s startup Dixon Technologies boasts a market value of more than $2.5 billion and the capacity to produce about 50 million smartphones this year. It’s an early indicator of the country’s opportunities -- and challenges -- in building a sophisticated manufacturing sector, a top priority for Prime Minister Narendra Modi. Almost three decades ago, Sunil Vachani borrowed $35,000 so he could start making 14-inch television sets in a rented shed outside New Delhi. It was an unconventional choice given India, though renowned for software and services, had long lagged behind in manufacturing. While Vachani, 52, struggled in his early days, his company’s shares surged 824% since a 2017 initial public offering through Friday’s close. Sales and profits have boomed with domestic demand for smartphones, along with India’s ambitious plans to develop its own local industry. Read more

M&M stock jumps 10% as investors react to positive Q3 results

Monday, February 8, 2021
Shares of Mahindra & Mahindra (M&M) rallied 10 per cent to Rs 952 on the BSE in Monday's intra-day trade after the firm reported a healthy operational performance in the October-December quarter. Revenue of the firm stood at Rs 14,057 crore, up 16% from the same period last year. The company had an exceptional loss of Rs 1,213.98 crore for the December quarter, representing impairment provisions for certain long-term assets and other exposures. The profit before exceptional loss stood at Rs 1,745 crore for the quarter. The increase in operating margins was driven by cost optimisation and operating leverage. The company sold 97,420 tractors in the domestic market in Q3 FY21, registering a 20 per cent growth over the corresponding period. Global research firm Goldman Sachs has maintained a buy rating on the stock with a target of Rs 1,029 per share.

Closing Bell:Sensex gains 617.14 points, Nifty at 15115.80

Monday, February 8, 2021
At close, the Sensex was up 617.14 points or 1.22% at 51,348.77, and the Nifty was up 191.50 points or 1.28% at 15,115.80. Mahindra & Mahindra was the top Sensex gainer, followed by Bajaj Finserv, Infosys, and Bharti Airtel. Hindustan Unilever, Kotak Mahindra Bank, and Bajaj Finance were top losers. About 1689 shares have advanced, 1284 shares declined, and 188 shares are unchanged. Only Nifty FMCG and Nifty PSU Bank index closed down in the red, While other sectoral indices ended in the green with Nifty Auto and Metal indices jumped 3 per cent each. The S&P BSE SmallCap index ended 1.53 per cent higher, while the MidCap index was up 1.5 per cent at close.

MARKET UPDATE: Sensex clocked a fresh lifetime high and trading over 700 points at 51,440 levels and Nifty conquered the 15,100 level

Monday, February 8, 2021
The benchmark indices in India were trading firm, up over 1 percent, in today's(8th February 2021) morning deals after opening higher for the sixth straight day, on the back of favourable global cues. The S&P BSE Sensex clocked a fresh lifetime high and was trading over 700 points, 1.4 percent, at 51,440 levels. The broader Nifty50 index also opened above the 15,000-mark and then later conquered the 15,100 level. Mahindra & Mahindra shot up 9 percent and was the top Sensex gainer, followed by State Bank of India and Axis Bank, up 3 percent, each. The Nifty sectoral indices were painted green, with the Nifty Bank index, up 2 percent, leading the charge. Hundred and forty companies are slated to report their December quarter results today including Aditya Birla Fashion, Balkrishna Industries, and Globus Spirits.

GDP will rise 10.5 per cent in 2021-22:RBI governor

Friday, February 5, 2021
RBI kept its policy repo rate unchanged at 4 percent and reverse repo rate at 3.35 percent, and promised an accommodative stance as long as necessary to revive growth and come out of the Covid-19 induced stress. RBI said it will restore the cash-reserve ratio (CRR) to its normal levels in two phases, 3.5 percent (from 3 percent now) effective March 27, and then at 4 percent from May. This would mean banks will again have to set aside money with the central bank. The special relaxation of 100 basis points was made to tide over the Covid induced stress situation last year. There was ample assurance about comfortable liquidity in the speech. Some sections of the market were expecting an announcement of the open market operations (OMO) calendar that would spell out how many bonds the central bank would buy from the secondary market to accommodate the borrowing program. That did not happen. Read more

Closing Bell:Sensex gains 117.34 points, Nifty at 14924.25

Friday, February 5, 2021
At close, the Sensex was up 117.34 points or 0.23% at 50,731.63, and the Nifty was up 28.60 points or 0.19% at 14,924.30. The top Sensex gainers were State Bank of India (SBI), IndusInd Bank, ONGC, Kotak Mahindra Bank, Titan Company, Housing Development Finance Company (HDFC), Maruti Suzuki, among others. On the flip side, Power Grid Corporation of India, TCS, M&M, Bharti Airtel were among the top Sensex laggards. About 1281 shares have advanced, 1637 shares declined, and 146 shares are unchanged. The Nifty Auto and the IT indices ended 1 per cent lower each. While the Nifty PSU Bank index advanced 4 per cent on the NSE and pharma index up 1 per cent. The S&P BSE MidCap and SmallCap indices ended 0.93 per cent and 0.28 per cent lower, respectively.

MARKET UPDATE: Sensex up 400 points and hovered near 51,000 levels and Nifty around 15,000 mark

Friday, February 5, 2021
The markets in India were holding on to their gains near their fresh lifetime highs today(5th Feb.2021) after the Reserve Bank of India kept the repo rate unchanged at 4 percent while the stance remained 'accommodative'. Besides, the RBI projected GDP growth of 10.5 percent in FY22 for India while the projection for CPI-based inflation was revised to 5.2 percent for Q4FY21. The S&P BSE Sensex was trading 400 points up and hovered near the 51,000 levels while the Nifty50 was around the 15,000 marks as well. One hundred and forty-seven companies including Britannia Industries, Mahindra & Mahindra, Punjab National Bank, Mrs. Bectors Food, Fortis Healthcare, Pfizer, and Shipping Corporation of India are scheduled to release their December quarter numbers today. Read more

Closing Bell:Sensex gains 358 points, Nifty at 14895.65

Thursday, February 4, 2021
At close, the Sensex was up 358.54 points or 0.71% at 50614.29, and the Nifty was up 105.70 points or 0.71% at 14895.70 driven by Union Budget optimism. State Bank of India (SBI), ITC, Bajaj Finance, ONGC, Mahindra & Mahindra (M&M), Kotak Mahindra Bank and Ultratech Cement, were among other Sensex gainers. On the flip side, Asian Paints, IndusInd Bank, Bharti Airtel, Tech Mahindra, Titan Company were the Sensex losers. Except for Nifty IT index, all the sectoral indices ended in the green. About 1813 shares have advanced, 1110 shares declined, and 142 shares are unchanged. Except IT all other sectoral indices ended in the green. BSE Midcap and Smallcap indices rose over 1 per cent each.

SBI Q3 result: Net profit slips 7% YoY

Thursday, February 4, 2021
State Bank of India (SBI) today(4th Feb 2021) reported a 6.9 percent year-on-year (YoY) drop in standalone net profit at Rs 5,196.22 crore for the quarter ending December 2020 (Q3FY21). The fall was largely driven by a marginal increase in provisions against bad loans. In the year-ago period, the lender had clocked a net profit of Rs 5,583.4 crore. On a quarterly basis, the PAT grew 13.6 percent from Rs 4,574.2 crore reported in the September quarter of FY21 (Q2FY21). The bottom-line earnings beat Street estimates which had factored-in an up to 58 percent YoY drop in PAT. The lowest PAT estimate was by HDFC Securities, at Rs 2,360 crore. SBI's profit before tax (PBT) came in at Rs 6,990.77 crore the quarter, down 36.2 percent YoY from Rs 10,969.66 crore reported in the corresponding quarter of the previous fiscal. On a quarterly basis, PBT climbed 10.2 percent from Rs 6,341.45 crore clocked in Q2FY21.

Budget 2021 has heated up the bond market

Thursday, February 4, 2021
The bond market got a negative surprise on Budget day (1st Feb 2021) when the government projected its gross borrowing numbers for the next financial year at Rs 12.05 trillion, much higher than the expected Rs 10.5 trillion. To make the matter worse, the government said it would borrow an additional Rs 80,000 crore in the current financial year, too. “The Rs 80,000 crore extra borrowing for this year is especially a bolt from the blue for the bond market,” said an expert. “This is because the government has been consistently running very high cash balances lately, revenues have picked up dramatically, and even though spending has gone up, it hasn’t been tracking anywhere close to what is required to yield the revised Budget numbers.” Read more

MARKET UPDATE: Sensex fell 200 points to 50,040 levels and Nifty slipped below 14,750

Thursday, February 4, 2021
The Indian markets slipped nearly half a percent in today's(4th February 2021) early deals, after three straight days of gains, amid mixed global cues, ahead of the weekly F&O expiry. The S&P BSE Sensex fell 200 points to 50,040 levels and the Nifty50 index slipped below 14,750. IndusInd Bank, ICICI Bank, and Asian Paints fell 1 percent each and were the top Sensex laggards. On the other hand, Mahindra & Mahindra rose 3 percent while ONGC and Bajaj Auto were both up 2 percent. The trend among Nifty sectoral indices was mixed, with gains in the Nifty Auto index, up 1.6 percent, being offset by the Nifty Bank index, down 1 percent. The broader indices, meanwhile, outran their benchmark peers, with both the S&P BSE MidCap and SmallCap indices ruling half a percent higher, each. Read more

Future Retail files appeal in Delhi HC against status quo order on RIL deal

Wednesday, February 3, 2021
Future Retail Ltd (FRL) today(3rd February 2021) said it has filed an appeal in the Delhi High Court against the status quo order on its Rs 24,713-crore deal with Reliance. Yesterday, a Delhi High Court bench of Justice J R Midha had directed FRL to maintain the status quo in relation to its Rs 24,713-crore deal with Reliance Retail that has been objected to by US-based e-commerce giant, Amazon. Following the Tuesday directive, FRL had said it would explore legal recourse. "Further to our letter dated February 2, 2021, please be informed that the company has filed an appeal before Hon'ble High Court of Delhi against the impugned order dated February 2, 2021," FRL said in a regulatory filing on Wednesday.

MCA allows NRIs to incorporate One Person Companies

Wednesday, February 3, 2021
he ministry of corporate affairs (MCA) amended the Companies Rules to revise the definition of a small company and to allow non-resident Indians (NRIs) to incorporate one-person companies (OPCs) in India. The changes, announced by finance minister Nirmala Sitharaman during her budget speech on Monday, will come into effect from April 1, according to the notifications. Paid-up capital and turnover of the small company shall not exceed rupees two crores and rupees twenty crores respectively,” the notification said. The previous definition was based on thresholds defined by the Companies Act which mentioned a maximum paid-up capital of Rs 50 lakh and turnover of Rs 2 crore for the immediately preceding fiscal. Amendments to the Act in 2018, contained provisions for increasing the paid-up capital and turnover thresholds for small companies up to Rs 10 crore and Rs 100 crore, respectively. Read more

Oil hits 11-month high after fall in U.S. crude stocks

Wednesday, February 3, 2021
Oil hit an 11-month high on Wednesday, boosted by a draw in U.S. crude and gasoline stocks, which fuelled demand recovery hopes as OPEC and has forecast that the market will be in deficit in 2021. Brent crude futures were up 48 cents, or 0.8%, to $57.94 a barrel at 0839 GMT, their highest since late February 2020. The contract’s“backwardation” structure, where oil for nearby delivery is more expensive than further forward, was near a one-year high at more than $2, indicating expectations of tighter supply. U.S. West Texas Intermediate (WTI) crude futures climbed 34 cents, or 0.6%, to $55.10 a barrel. The benchmark hit a one-year high at $55.26 on Tuesday. The market was also bolstered by news that Democrats in the U.S. Congress took the first steps toward advancing President Joe Biden's proposed $1.9 trillion coronavirus aid plan without Republican support.Gasoline stocks fell by 240,000 barrels, defying analysts' expectations for a build of 1.1 million barrels. Distillate inventories

Closing Bell:Sensex gains 458.03 points, Nifty at 14789.95

Wednesday, February 3, 2021
At close, the Sensex was up 458.03 points or 0.92% at 50,255.75, and the Nifty was up 142.10 points or 0.97% at 14,790 driven by Union Budget 2021 and highest ever FII buying. IndusInd Bank was the top Sensex performer, followed by Power Grid Corporation of India, Dr Reddy’s Laboratories, Sun Pharma, NTPC, Axis Bank, Titan Company, Tech Mahindra and Bharti Airtel. On the flip side, Maruti Suzuki was the top Sensex laggards, along with Ultratech Cements, ITC, Kotak Mahindra Bank, Asian Paints, Nestle India and TCS. About 1752 shares have advanced, 1189 shares declined, and 149 shares are unchanged. Pharma and PSU Bank indices rose 2 per cent each and auto, metal and energy indices added over 1 per cent each. Except for Nifty Realty index, all the sectoral indices ended in the green.The S&P BSE MidCap and SmallCap indices settled 1.4 per cent and 1.5 per cent higher, respectively.

MARKET UPDATE: Sensex trading 320 points up at 50,118 levels and Nifty testing the 14,750-mark

Wednesday, February 3, 2021
The benchmark indices in India scaled their fresh lifetime highs in morning trading of today's(3rd February 2021) volatile session. Among the headline indices, the S&P BSE Sensex was trading 320 points up at 50,118 levels. The index had earlier hit a fresh lifetime high of 50,231. The broader Nifty50 index was testing the 14,750-mark. Kotak Mahindra Bank and Maruti Suzuki slipped 1 percent each and were the top Sensex laggards. On the other hand, Dr. Reddy's zoomed 4 percent. The trend among Nifty sectoral indices was mixed, with the Nifty Pharma index, up 2 percent, leading the gainers. The broader markets, meanwhile, outran their benchmark peers, with the S&P BSE MidCap and SmallCap indexes up 0.9 percent and 0.8 percent, respectively. Read more

Closing Bell:Sensex gains1197, Nifty at 14647.85

Tuesday, February 2, 2021
At close, the Sensex was up 1,197.11 points or 2.46% at 49,797.72, and the Nifty up 366.70 points or 2.57% at 14,647.90.HDFC Bank, Housing Development Finance Corporation (HDFC), Reliance Industries Ltd (RIL), ICICI Bank and State Bank of India were major gainers. On the flip side, Bajaj Finserv, Titan Company, Hindustan Unilever Ltd (HUL) were the only index losers. About 1727 shares have advanced, 1165 shares declined, and 170 shares are unchanged. Nifty Auto gained 4 per cent. Nifty Bank and Infra gained 3 per cent. The S&P BSE MidCap and SmallCap indices ended 2.26 per cent and 1.56 per cent higher, respectively.

MARKET UPDATE: Sensex shot up over 1,400 points and reclaimed the 50,000 levels and Nifty topped the 14,700-mark

Tuesday, February 2, 2021
The excitement in the Indian markets continued with the benchmark indices soaring another 3 percent today(2nd February 2021) after recording their biggest Budget-day rally (point-wise) in the previous session. Besides, a firm set of global cues also spurred the bulls. Among the headline indices, the S&P BSE Sensex shot up over 1,400 points and reclaimed the 50,000 levels. The broader Nifty50 index topped the 14,700-mark. Larsen & Toubro, up 8 percent, was the top Sensex gainer, followed by HDFC Bank and HDFC, up 6 percent and 5 percent, respectively. The Nifty sectoral indices were painted green, with the Nifty Financial Services index, up 4.4 percent, leading the gainers. Meanwhile, the Nifty Bank index surged over 1,500 points in intra-day deals to 34,618, a fresh high. Read more

Nirmala Sitharamans concludes presentation of the first Budget of the decade, highlights priority sectors, provides roadmap of reducing the fiscal deficit

Monday, February 1, 2021
Finance Minister Nirmala Sitharaman presented her third Union Budget in Parliament, which rests on six major heads – health and well-being, physical, financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation and R&D, and minimum government and maximum governance. The finance minister has announced a total spend of around Rs 2 trillion on healthcare and mega national highway projects in election-bound states of Tamil Nadu, West Bengal, Assam,union and Kerala. Addressing the nation after the Budget presentation, Prime Minister Narendra Modi said this year's Budget was prepared under unprecedented circumstances. He said it speaks of 'all-round development'. Read more

FM extends tax holiday, capital gains exemption for startups

Monday, February 1, 2021
Finance Minister Nirmala Sitharaman in her third budget speech on Monday, extended the tax holiday for startups by another year to March 2022. The capital gains exemption given to startups was also extended by a year more. According to experts, since most startups are loss-making, tax holiday will have limited immediate impact on them.“In order to incentivise startups in the country, I propose to extend the eligibility for claiming tax holiday for startups by one more year to March 31, 2022…In order to incentivise funding for the startups, I propose to extend the capital gains exemption for investment in startups by one more year to March 31, 2022,” Sitharaman said. There have been many steps taken by the government to help startups, which include broadening the definition of startups, simplifying regulations, providing income tax exemptions and setting up a Rs 10,000 crore Fund of Funds run by Sidbi.

Closing Bell:Sensex gains 2315 points, Nifty at 14281.20

Monday, February 1, 2021
At close, the Sensex was up 2,314.84 points or 5% at 48600.61, and the Nifty was up 646.60 points or 4.74% at 14281.20 on Monday in post Budget rally as investors cheered the Budget 2021 presented by Finance Minister Nirmala Sitharaman in the Parliament today. Top Sensex gainers were IndusInd Bank, ICICI Bank, Bajaj Finserv, State Bank of India (SBI), Larsen & Toubro, Housing Development Finance Corporation (HDFC), among others. On the flip side, Dr Reddy’s, Tech Mahindra and Hindustan Unilever Ltd (HUL) were the only Sensex laggards today. About 1902 shares have advanced, 979 shares declined, and 198 shares are unchanged. Barring Nifty Pharma, all the Nifty sectoral indices ended in the green led by Nifty Bank index, up 8.26 per cent.BSE Midcap and Smallcap rose 2-3 per cent.

MARKET UPDATE: Sensex trading 530 points up at 46,820 levels and Nifty hovered around 13,750 level

Monday, February 1, 2021
The markets in India were trading firm in today's(1st February 2021) late morning deals as Finance Minister Nirmala Sitharaman began her Budget 2021 speech in the Parliament. Among the headline indices, the S&P BSE Sensex was trading at 46,820 levels, up 530 points. The broader Nifty50 index hovered above the 13,750 level. IndusInd Bank rallied 7 percent and was the top Sensex gainer, followed by ICICI Bank (up 4%). Besides, Titan, State Bank of India, and HDFC rose over 1 percent, each. The majority of the Nifty sectoral indices were trading with gains, led by the Nifty Bank index, up 1.5 percent. On the other hand, the Nifty Pharma index slipped 1.4 percent. The broader markets, meanwhile, slipped into the red, with the S&P BSE MidCap and SmallCap indices down 0.1 percent, each.

Budget 2021 LIVE: FM arrives at North Block; all eyes on high stakes Budget

Monday, February 1, 2021
Finance Minister Nirmala Sitharaman will present her third Union Budget in Parliament at 11 am today. The Budget speech will be keenly watched not only by the domestic and foreign investors but also by various interest groups like farmers, anxious middle class, and corporate entities. As the Covid-19 pandemic hit India last year, the government witnessed a rising expenditure and tumbling revenue, even as at one stage economic activity came to a standstill due to the pandemic-induced lockdown. However, the economy is now in a recovery mode. On Friday,29th January 2021 the government tabled the Economic Survey 2020, which pegged India's real GDP growth at 11 percent in FY22. Meanwhile, the finance minister has promised a 'Budget like never before'. Read more

ICICI Bank's Q3 net profit increases 17% to Rs 5,498 crore

Saturday, January 30, 2021
ICICI Bank today( 30th January 2021) reported a 17.73 percent jump in its December quarter consolidated net profit at Rs 5,498.15 crore, as against Rs 4,670.10 crore in the year-ago period. The country's second-largest private sector lender by assets showed a 19.12 percent rise in the post-tax profit at Rs 4,939.59 crore for the reporting quarter, up from Rs 4.146.46 crore in the October-December 2019 period. Its total income increased to Rs 24,416 crore from the year-ago's Rs 23,638 crore, while the total expenditure was lower at Rs 15,596 crore as against Rs 16,089 crore. The reported gross non-performing assets ratio was at 4.38 percent but would have been 5.42 percent if not for the Supreme Court order asking banks not to classify non-paying loan accounts as NPAs after the end of the loan repayment moratorium. Read more

Sunpharma Q3 reults:Profit jumps to Rs 1,852 crore

Friday, January 29, 2021
Shares of Sun Pharmaceutical Industries gained by 6 per cent to Rs 600, bouncing back 8 per cent from day’s low of Rs 554, after the company’s net profit more-than-doubled at Rs 1,852 crore in December quarter (Q3FY21) compared with Rs 913.52 crore in the same quarter last year. The profit figures were above market expectations as a CNBC-TV18 poll had estimated the profit at Rs 1,334 crore. Consolidated total revenue from operations increased 8% to ₹8,837 crore as against ₹8,155 crores a year ago. Revenue was better-than-expected too as a CNBC-TV18 poll had estimated it at Rs 8,367 crore. Other income for the quarter surged to Rs 314.95 crore compared with Rs 119.88 crore in the year-ago quarter. The company declared an interim dividend of ₹5.50 per share. The board of directors has fixed February 10, 2021, as the record date for the purpose. Read more

Closing Bell: Sensex down 588 points, Nifty at 13634.60

Friday, January 29, 2021
At close, Sensex closed 589 points, or 1.26 per cent, down at 46,285.77 while Nifty shut shop at 13,634.60, down 183 points or 1.32 per cent. IndusInd Bank was the top gainer, followed by Sun Pharma, ICICI Bank, and HDFC Bank. Dr Reddy’s Labs, Bajaj Auto, Infosys, and Maruti Suzuki India were the top drags. Nifty Auto and IT fell almost 3 per cent each. Metal and Pharma indices fell up to 2 per cent. Nifty PSU Bank index rose nearly 2 per cent. Nifty realty gained 0.7 per cent. India VIX, jumped over 4%.The S&P BSE MidCap and S&P BSE SmallCap index down 0.69 per cent and 0.25 per cent, respectively at the close.

Sensex loses over 3,000 points in 5 days as bears hammer market

Thursday, January 28, 2021
Bears continued to strengthen their grip on the market as they sold whatever they could get their hands on, sending benchmark indices lower for another day ahead of the Union Budget. At the intraday low of 46,518.48, the 30-scrip S&P BSE Sensex index lost around 3000 points in five days. Foreign investors have decidedly turned negative on India withdrawing money from equities for the third day in a row. Traders are also unwinding their long positions in tandem, putting further pressure on the market. Markets, globally, have turned weak following the steady decline in the US market. The heightened speculative activity in certain segments in US markets has become an area of concern. Back home, in India, the third day of consecutive selling by FIIs have turned the market mood bearish. According to experts, the budget uncertainty will keep the bulls in restraint.

Closing Bell: Sensex down 535 points, Nifty at 13817.55

Thursday, January 28, 2021
At close, the Sensex was down 535.57 points or 1.13% at 46,874.36, and the Nifty was down 150 points or 1.07% at 13,817.50 amid expiry of the January series of the Futures and Options (F&O) contracts, and profit-booking on stretched valuations and ahead of the Union Budget announcement next week. Axis Bank was the top gainer followed by State Bank of India, and ICICI Bank. Hindustan Unilever, Maruti Suzuki India, and HDFC Bank were top losers. About 1543 shares have advanced, 1285 shares declined, and 161 shares are unchanged. Nifty Realty index down over 2 per cent. Nifty Bank and Private Bank index, up around 0.3 per cent each. The BSE MidCap index ended 0.4 per cent lower while the smallcap counterpart closed down 0.45 per cent.

Gold demand plunged to 11-year low in 2020:WGC

Thursday, January 28, 2021
Global demand for gold fell to its lowest in 11 years in 2020 as the coronavirus upended the market, triggering huge stockpiling by investors. but sales of jewellery and purchases by central banks collapsed according to an industry report on 28th January 2021. The pandemic also transformed the geography of the bullion trade, sucking gold from Asia, where most gold is sold as jewellery, to Europe and the United States, where investors are the dominant consumers. It also pushed the value of gold up 25% in 2020, because investors have much more impact on prices than the jewellery market. Global demand for gold fell to 3,759.6 tonnes last year, down 14% from 2019 and the first year below 4,000 tonnes since 2009, the World Gold Council (WGC) said in its latest quarterly report. The year ended on a weak note, with demand over October to December at 783.4 tonnes, down 28% year-on-year and the lowest of any quarter since 2008, the WGC said.

MARKET UPDATE: Sensex trading 400 points down at 46,990 levels and Nifty slipped below 13,900

Thursday, January 28, 2021
The benchmark indices in India continued their weak run and fell one percent in today's(28th January 2021) morning deals, ahead of the monthly derivatives contracts expiry later in the day. Among the headline indices, the S&P BSE Sensex was trading 400 points down at 46,990, thus giving up the psychological mark of 47,000. The index fell to as low as 46,821 in intra-day deals. The broader Nifty50 index, meanwhile, slipped below 13,900. The HDFC twins fell 2 percent, each, and were the top Sensex drags. Besides, Sun Pharma, HCL Tech, and PowerGrid were also down 2 percent, each. On the other hand, RIL was up 1 percent. The Nifty sectoral indices were trading weak, with the Nifty PSU Bank index, down 2 percent, faring the worst. In the broader markets, the S&P BSE MidCap and SmallCap indices fell 0.6 percent and 0.8 percent, respectively. Read more

Key factors behind today's market crash

Wednesday, January 27, 2021
Benchmark indices extended their losses to the fourth day today mainly led by losses in index heavyweight Reliance Industries, private lenders, and select IT stocks, Weak global markets, a mixed set of Q3 earnings, and selling by foreign institutional investors (FIIs) dented the domestic market mood in today's session. Meanwhile, investors chose to book profits ahead of the Union Budget on Monday, February 1. The BSE barometer Sensex plunged 938 points to 47,410 while its NSE counterpart Nifty slipped below the 14,000 marks to end at 13,968, down 271 points. Global stocks are mostly treading water near record highs as US corporate earnings roll in. Meanwhile, new coronavirus variants that sparked fresh lockdowns and other restrictions are weighing on the market mood. Read more

Tiktok to shut down India business

Wednesday, January 27, 2021
Bytedance, the owner of Tiktok and Helo apps, has announced the closure of its India business following continued restrictions on its services in the country. TikTok's global interim head Vanessa Pappas and vice president for global business solutions Blake Chandlee in a joint email to employees have communicated the decision of the company that it is reducing team size and the decision will impact all employees in India. The executives expressed uncertainty about the company's comeback to India but expressed hope to do so in times to come. "We look forward to receiving the opportunity to relaunch TikTok and support the hundreds of millions of users, artists, storytellers, educators, and performers in India," the spokesperson said.

Closing Bell:Sensex down 938 points, Nifty at 13967.50

Wednesday, January 27, 2021
At close, the Sensex was down 937.66 points or 1.94% at 47,409.93, and the Nifty was down 271.40 points or 1.91% at 13,967.50 for the fourth consecutive session on the back of broad-based selling. IndusInd Bank, Titan, and Axis Bank were the top drags followed by Reliance Industries, HDFC Bank, HDFC, and ICICI Bank. Tech Mahindra, ITC, SBI Life Insurance, Wipro, and Power Grid Corp were the top gainers. Nifty Bank index, down 2.93 per cent, being the top loser. Except for FMCG, all other sectoral indices ended in the red. BSE Midcap and Smallcap indices shed 0.5-1.3 per cent.Volatility index of India VIX soared to cross 24 levels

Retail investors in driver's seat :UBS

Monday, January 25, 2021
Foreign investor flows have taken a backseat over the past couple of years with retail investors now being in the driver’s seat, suggests a recent report from foreign brokerage firm UBS. “Overall, when we combine household equity savings through mutual funds and direct share purchase, we see that households are a material force to be reckoned with: overall 25 percent higher than foreign portfolio investment (FPI) net inflows over the last two years,” a January 20 UBS note said. the key trigger for the increased retail participation in equities has been the lockdown triggered by Covid-19 that saw investors channelizing their savings to capital markets in search of a better return on their investments and the need to increase their disposable income. The share of client participation in capital markets at the NSE for individuals rose to 46 percent in fiscal 2020-21 (FY21) on a YTD basis, as compared to 39 percent in FY20, UBS said.

New fund to meet the public health spending target

Monday, January 25, 2021
Due to an increased demand for a higher health care allocation, the government may set up a new fund to meet the public health spending target of 2.5 percent of GDP by 2025. Both, the Centre and states would provide for the fund to achieve the goal, the Union Budget may propose. At present, the country’s total health expenditure is 1.4 percent of GDP — much lower than many emerging economies in the world. The fund, if created, would be under the ‘Pradhan Mantri’ umbrella and will focus on both short- and long-term priorities of the sector, according to the government officials. The primary objective of the new fund will be to spend 25 percent on primary health care and the rest on infrastructure as well as research and development. It would also provide additional money to the government’s existing health care schemes such as Ayushman Bharat. Read more

MARKET UPDATE:volatile session; Sensex hovered around 48,770 levels and Nifty testing the 14,450-mark

Monday, January 25, 2021
The benchmark indices in India fluctuated between gains and losses in morning deals of today's(25th January 2021) volatile session, with gains in financials being offset by losses in index-heavyweight Reliance Industries. The S&P BSE Sensex hovered around 48,770 levels, having earlier risen to 49,010 levels in intra-day deals. The broader Nifty50 index was testing the 14,450-mark. Reliance Industries dipped 4 percent post the announcement of its December quarter results. The conglomerate saw its profit jump 12.5 percent to Rs 13,101 crore during the said quarter. Besides, Asian Paints and HCL Tech also slipped 2 percent, each. On the other hand, UltraTech Cement climbed 2 percent and was the top Sensex gainer. The Nifty sectoral indices were mixed, with the Nifty PSU Bank index trading 2 percent lower. In the broader markets, the S&P BSE MidCap and SmallCap indices slipped 0.9 percent and 1.7 percent, respectively. Read more

Closing Bell:Sensex down 746 points, Nifty at 14371.90

Friday, January 22, 2021
At close, Sensex was down 746 points, or 1.50 per cent, at 48878.54 and Nifty was at 14371.90, down 218 points or 1.50 per cent as investors took some profit off the table on Friday. Axis Bank was the top loser followed by SBI, ICICI Bank, IndusInd Bank. On the flipside, Bajaj Auto, HUL, TCS, Ultratech Cement, and Bajaj Finserv were the only gainers on the Sensex. The S&P BSE MidCap index ended 1.1 per cent lower at 18,777.46 levels while the S&P BSE SmallCap index closed at 18,442 levels, down 0.93 per cent. India VIX, the volatility index, rose 1.09 per cent to settle at 22.42 levels. The nifty metal was down 4 per cent. Nifty Bank index tanked over 1,000 points, or 3.25 per cent, to close at 31,176 levels.

Some expectation from Budget 2021

Friday, January 22, 2021
Markets are now eyeing the upcoming proposals in the Union Budget – scheduled to be presented on February 01 – After a stupendous rally that has seen the S&P BSE Sensex more than double from March 2020 low and hit the 50,000 marks. The budget proposals may help revive Covid-19 impacted economy and lift the fortunes of corporate India as well. While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard. Growth and not fiscal prudence, experts say, should be the priority for the government now. Read more

Chris Wood bullish on Indian equities

Friday, January 22, 2021
Christopher Wood, global head of equity strategy at Jefferies has maintained a bullish view on Indian equities for 2021 in spite of the runaway market rally since March 2020. "GREED & fear still likes the Indian stock market this year. The key reason is the scale of the cyclical recovery in the coming fiscal year as a result of the dramatic collapse in growth in the second quarter of last calendar year when the real gross domestic product (GDP) declined by 23.9 percent YoY," Wood wrote in his recent weekly note to investors, GREED & fear. "The economic downturn is not going to happen in GREED & fear’s view since the vaccine rollout implies the opposite and the resulting unleashing of pent-up demand, which will be given further momentum by the sheer scale of the Covid-19 stimulus announced last week by President Joe Biden," Wood wrote. Read more

MARKET UPDATE:volatile session; Sensex fell 120 points to 49500 and Nifty fell below 14,550

Friday, January 22, 2021
The Indian benchmark indices inched lower in the morning deals of today's(22nd January 2021) volatile session, dragged by Reliance Industries and private banks. The S&P BSE Sensex fell 120 points to 49,500 and the broader Nifty50 index fell below 14,550. Bajaj Auto gained 6 percent and was the top Sensex gainer, followed by Mahindra & Mahindra and Asian Paints (both up 1%). On the other hand, Axis Bank and HDFC fell1 percent, each. Reliance Industries also slipped 1 percent ahead of its quarterly results later in the day. Among other individual stocks, Biocon tumbled 9 percent while SBI Card rose as much as 4 percent after announcing their respective December quarter results. The Nifty sectoral indices were mixed, with the Nifty Auto index, up 3 percent leading the gainers. Read more

Closing Bell:Sensex down 167 points, Nifty at 14590.35

Thursday, January 21, 2021
At close, Sensex was down 167 points, or 0.34 per cent, at 49,624.76 and Nifty was at 14,590.35, down 54 points or 0.37 per cent and hit an all-time high of 50,184.0. Bajaj Finance, Bajaj Finserv, HCL Tech, IndusInd Bank, Bajaj-Auto, Ultratech Cement, Reliance Industries Ltd (RIL), Tech Mahindra and Titan Company were among top Sensex gainers. On the flip side, Tata Consultancy Services (TCS), Housing Development Finance Corporation (HDFC) and HDFC Bank were the index losers. Nifty PSU Bank, Nifty Realty and Nifty Metal indices down between 2 per cent and 3.5 per cent and BSE Telecom down 2.64 per cent.BSE Midcap and Smallcap indices fell 0.88 per cent and 0.68 per cent, respectively.

India's GDP is within the striking distance of attaining positive growth: RBI bulletin

Thursday, January 21, 2021
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said. The Indian government launched the world's biggest vaccination drive on January 16 to protect people from COVID-19. "What will 2021 look like? The shape of the recovery will be V-shaped after all and the 'V' stands for the vaccine," said an article on the 'state of the economy' in the RBI's January Bulletin. India has launched the biggest vaccination drive in the world, backed by its comparative advantage of having the largest vaccine manufacturing capacity in the world and a rich experience of mass inoculation drives against polio and measles. "If successful, it will tilt the balance of risks upwards," said the authors who among others include RBI Deputy Governor Michael Debabrata Patra. Read more

Joe Biden is sworn in as the 46th president of the United States

Thursday, January 21, 2021
Joe Biden was sworn in as the 46th president of the United States yesterday (20th January 2021), offering a message of unity and restoration to a deeply divided country reeling from a battered economy and a raging coronavirus pandemic that has killed more than 400,000 Americans. Standing on the steps of the US Capitol Biden called for a return to civic decency in an inaugural address marking the end of Trump's tempestuous four-year term. "To overcome these challenges, to restore the soul and secure the future of America, requires so much more than words. It requires the most elusive of all things in a democracy: unity," Biden, a Democrat, said after taking the oath of office. "We must end this uncivil war that pits red against blue, rural versus urban, conservative versus liberal. We can do this - if we open our souls instead of hardening our hearts." Read more

MARKET UPDATE:Sensex crossed the 50,000 landmark; up by 270 points at 50,070 levels and the Nifty was above 14,700-mark

Thursday, January 21, 2021
The markets in India scaled record highs today(21st January 2021), with the S&P BSE Sensex crossing the 50,000 landmark for the first time ever, on the back of favourable global cues. The S&P BSE Sensex gained 270 points at 50,070 levels and the Nifty50 index was trading above the 14,700-mark. Bajaj Finance and Bajaj Finserv rose 4 percent and 3 percent, respectively, after announcing their December quarter results, while Bajaj Auto gained over 1 percent ahead of its quarterly results announcement, later in the day. The Nifty sectoral indices were painted green, led by the Nifty Auto index, up 1 percent.

Will Pfizer-BioNTech shot neutralise mutating coronavirus?

Wednesday, January 20, 2021
Pfizer Inc. and BioNTech SE built the case that their Covid-19 vaccine will protect against the new UK variant. Like previous work out of the University of Texas Medical Branch, the results published today(20th January 2021) showed that antibodies in the blood of people who had been vaccinated were able to neutralize a version of the mutant virus that was created in the lab. The study was published on preprint server BioRxiv prior to peer review. Unlike the earlier study, which focused on one crucial mutation, the new research tested all 10 mutations located on the virus’s spike protein, which helps it bind to cells in the host. Antibodies in the blood of 16 volunteers in a previous German trial of the vaccine were just as effective against the lab-created mutant strain as they were against the original virus. The result “makes it very unlikely that the U.K. variant viruses will escape” protection from the vaccine, wrote a BioNTech research team.

FM Nirmala Sitharaman's upcoming budget may be unlike anything seen in the last 100 years

Wednesday, January 20, 2021
FM Nirmala Sitharaman has described her upcoming budget as unlike anything seen in the last 100 years. Prime Minister Narendra Modi’s government has been parsimonious in pump-priming the economy, for fear of a rating downgrade to junk, and may find that kicking the can down the road is no longer an option. When Finance Minister Nirmala Sitharaman presents her budget on Feb. 1, she will not only aim to repair battered government finances and ensure demand recovers in an economy facing its worst contraction since 1952. She must also revive declining revenue and restore millions of jobs lost during the pandemic. That will be crucial to boosting consumer sentiment in a country where local demand contributes nearly 60% of gross domestic product. Read more

Closing Bell:Sensex gains 394 points, Nifty at 14644.70

Wednesday, January 20, 2021
At close, the Sensex was up 393.83 points or 0.80% at 49,792.12 and the Nifty was up 123.50 points or 0.85% at 14,644.70 ended at fresh all-time high levels on Wednesday, primarily due to buying in Reliance Industries Ltd and IT stocks. Tech Mahindra was the top Sensex gainer today, followed by Maruti Suzuki, RIL, Asian Paints, M&M, Infosys, HCL Tech and State bank of India. On the flip side, Power Grid Corporation of India, NTPC, HDFC Bank, ITC, Nestle India, Sun Pharma were among top Sensex losers. About 1553 shares have advanced, 1407 shares declined, and 157 shares are unchanged. Sectorally, all except Nifty FMCG index ended the day in the green on the NSE with the FMCG index closing down 0.16 per cent. On the upside, Nifty IT, Auto, and PSU Bank indices closed with gains of over 2 per cent each. The S&P BSE MidCap index settled 1 per cent higher, while the S&P BSE SmallCap index gained 0.58 per cent.

MARKET UPDATE:Sensex up by 100 points at 49,500 levels and the Nifty was above 14,550-mark

Wednesday, January 20, 2021
The benchmark indices in India inched higher after a flat start in today's(20th January 2021) opening deals, lifted by IT stocks. The S&P BSE Sensex was up 100 points at 49,500 levels and the Nifty50 index was above the 14,550-mark. ONGC, Tech Mahindra, ICICI Bank, and HCL Tech (all up 1%) were the top Sensex gainers. Among other individual stocks, Tata Communications slid 4 percent as the government is set to sell its entire 26.12 percent stake in the company by the end of the current fiscal year. All the Nifty sectoral indices, except Nifty FMCG, were painted green, with the Nifty IT index, up 2 percent, leading the list of gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 0.4 percent, each. Thirty-six companies including Bajaj Finance, Bajaj Finserv, HDFC Asset Management Company, and Havells India are set to announce their quarterly results today.

Closing Bell:Sensex gains 834 points, Nifty at 14521.15

Tuesday, January 19, 2021
At close, the Sensex was up 834.02 points or 1.72% at 49,398.29, and the Nifty was up 239.90 points or 1.68% at 14,521.20. Bajaj Finance, HDFC, ICICI Bank and IndusInd Bank were top gainers in the Sensex pack followed by State Bank of India and Maruti Suzuki. Tech Mahindra, ITC, Wipro, M&M and Britannia Industries were top losers. About 2077 shares have advanced, 861 shares declined, and 139 shares are unchanged. Nifty Media and Nifty Realty indices were top sectoral indices, up over 2 per cent. The BSE MidCap index gained 2.3 per cent. The SmallCap index, on the other hand, up 1.6 per cent.

PVR plans to release films in theatres as virus eases

Tuesday, January 19, 2021
PVR Ltd. is now planning to release their movies in cinema halls rather than on streaming sites like those run by Netflix Inc. and Amazon.com Inc., now that the pandemic is easing in India. The country’s biggest cinema operator, which runs about 835 screens across 71 cities, is currently operating most theaters at half capacity due to Covid-related restrictions. However, it sees benefits in the “age-old strategy” of movies first coming to the big screen before being monetized on other platforms. A number of Indian films starring top actors such as Amitabh Bachchan, Akshay Kumar, and Vidya Balan opted for streaming platform release in 2020 as theaters were shuttered by shelter-at-home rules. PVR’s shares, which snapped eight years of gains to fall about 30% in 2020, have risen almost 14% this year. The stock has 20 buy calls, six holds, and four sales among analysts tracked by Bloomberg.

Price hike puts auto stocks in fast lane

Tuesday, January 19, 2021
Equity markets in India bounced back today(19th January 2021), nursing losses of the past two days, on strong global cues. The nifty Auto index gained 1.5 percent on the National Stock Exchange (NSE) to hit an intra-day high of 10,113.5. Among individual stocks, Tata Motors jumped as much as 4 percent on the NSE, followed by gains in Ashok Leyland, TVS Motors, Bajaj Auto, and Maruti Suzuki that gained between 1 percent to 3 percent. Yesterday, Maruti Suzuki increased the price for select models by up to Rs 34,000 to offset the adverse impact of rising input costs. With this, India's largest car-maker joins the likes of Mahindra & Mahindra and Tata Motors who have already hiked prices owing to higher input costs. That said, the same uptick in input cost may hurt auto firms' Q3FY21 earnings, analysts say. This is how auto stocks faring on technical charts: Read more

Budget 2021: Special facility to be available for FDI proposals worth over Rs 3,000 cr

Tuesday, January 19, 2021
GOI is planning to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction, according to sources. An announcement in this regard may happen in the Union Budget, scheduled to be presented on February 1. Some strategically important foreign investors include Canada pension fund CDPQ, GIC (Singapore), the Qatar Investment Authority, Temasek (Singapore), and the Abu Dhabi Investment Authority. Most of them met Prime Minister Narendra Modi through virtual meetings in early November. It is learned that foreign investors showed faith in the government’s recent initiatives and reforms. Through this window, foreign funds would receive a response from the government within three days, so that such a proposal can be fast-tracked. Also, the window will act as a point of contact between investors and the various ministries and departments concerned.

MARKET UPDATE:Sensex rose 350 points and hovered around 48,900 levels and the Nifty held above 14,400

Tuesday, January 19, 2021
The Indian benchmark indices made a strong start today(19th January 2021), tracking firm cues from other Asian markets. The S&P BSE Sensex rose 350 points and hovered near 48,900 levels. The index hit an intra-day high of 49,060. The broader Nifty50 index held above 14,400. Bajaj Finance and IndusInd Bank (both up 2%) were the top Sensex gainers. Besides, Reliance Industries, HDFC, and Maruti Suzuki were also trading over 1 percent, each. Among other individual stocks, shares of Mindtree gained 4 percent after the company's consolidated net profit jumped 65.7 percent year-on-year (YoY) to Rs 326.5 crore in the December 2020 quarter. The trend among Nifty sectoral indices was positive, with the Nifty Realty index, up 2.2 percent, leading the list of gainers.

Govt likely to target fiscal deficit at 4% of GDP by FY26

Monday, January 18, 2021
The GOI is likely to lay down a road map in the upcoming Budget to reduce its fiscal deficit to 4 percent of gross domestic product (GDP) by 2025-26. This is necessary because there will be demands for expansionary policies, even in the next couple of years. This implies the government is set to deviate from the long-standing medium-term target of 2.5-3 percent of GDP as prescribed by amendments to the Fiscal Responsibility and Budget Management Act (FRBM). The government had changed the recommendations of the N K Singh Committee on fiscal consolidation and targeted bringing down the fiscal deficit to 3.1 percent of GDP by 2022-23 (FY23). However, to enable widen the fiscal deficit beyond the permissible limit under the present legislation, the government may have to propose an amendment to the FRBM Act in the Finance Bill.