Govt approves 31 proposals for telecom PLI scheme entailing Rs 3,345 cr investment

Thursday, October 14, 2021
The Department of Telecom today(14th Oct.2021) approved 31 proposals entailing an investment of Rs 3,345 crore over the next four and a half years. "The investment of Rs 3,345 crore in the next 4.5 years is just a beginning. Government is helping you (industry players) as a catalyst," Minister of State for Communications Devusinh Chauhan said. The companies selected for the PLI scheme include Nokia India, HFCL, Dixon Technologies, Flextronics, Foxconn, Coral Telecom, VVDN Technologies, Akashastha Technologies, and GS India. The DoT notified the PLI scheme for telecom and networking products on February 24, 2021, with a financial outlay of Rs 12,195 crore, over the five years. The scheme for telecom gear manufacturing in India is expected to encourage the production of equipment worth Rs 2.44 lakh crore and create direct and indirect employment for about 40,000 people. Read more

MARKET UPDATE:Sensex registered a new high at 61,159 while Nifty touched a new summit at 18,295

Thursday, October 14, 2021
The Indian markets continue to trade on a firm note well supported by IT stocks following a good Q2 show today(14th Oct.2021). The BSE Sensex so far has registered a new high at 61,159 and was up 352 points at 61,089. The NSE Nifty touched a new summit at 18,295 and was up 111 points at 18,273. The BSE IT index has pared considerable gains but is still up 1.2 percent at 35,217. The index had touched a high of 35,794. The BSE Realty, Metal, and Capital Goods indices are the other major gainers, up 1.3-2.7 percent, each. Infosys which touched a high of Rs 1,784, was up 1.4 percent at Rs 1,733. Wipro touched a new high at Rs 723.65 on the BSE and continues to trade firm, at Rs 705, up 4.8 percent. Tech Mahindra has gained 1.4 percent, while HCL Technologies has slipped into the red, down 0.8 percent at Rs 1,255 ahead of its results. Read more

Infosys Quaterly Result

Wednesday, October 13, 2021
The country's second-largest IT services company Infosys reported consolidated profit at Rs 5,421crore in the quarter ended September 2021 quarter, up 12 percent year on year. It was ₹4,845 crores in the year-ago period and sequentially grew by 4.3 percent from ₹5,195 crores in the June quarter. Revenue for the quarter was up 20 percent at Rs 29,602 crore, from Rs 24,570 crore in the year-ago period. The company has revised the revenue guidance for FY22 to 16.5%-17.5% but retained the margin guidance at 22%-24%. The Board has also approved an interim dividend of ₹15 per equity share.“Our stellar performance and robust growth outlook continue to demonstrate our strategic focus and the strength of our digital offerings,” said Salil Parekh, CEO at Infosys in a press statement. Parekh said that the continued momentum in the business has given Infosys the confidence to raise its guidance for growth in revenues in 2021-22 to 16.5-17.5 percent from 14-16 percent earlier Read more

Closing bell: Sensex gains 452 points, Nifty at 18161.75

Wednesday, October 13, 2021
At close, the Sensex was up 452.74 points or 0.75% at 60,737.05, and the Nifty was up 169.80 points or 0.94% at 18,161.80 for the fifth straight session on Wednesday as macroeconomic tailwinds put stocks in top gear. Tata Motors, Ashok Leyland, M&M, and Bharat Forge were the top gainers in today's Sensex pack. Maruti Suzuki, ONGC, Coal India, SBI Life Insurance, and HUL were among the big losers. About 1602 shares have advanced, 1504 shares declined, and 118 shares are unchanged. The BSE MidCap index closed with gains of 1.62 percent after hitting a fresh lifetime high of 26,590 in the intra-day trade. The BSE SmallCap index, meanwhile, up 0.6 percent, after hitting a new peak of 29,846 in the intra-day session. The Nifty Realty index ended the session in the green led by the Nifty Auto index up 3.4 percent. While energy, infra, IT, metal, power, and capital goods indices are up 1 percent each.

Midcaps and smallcaps to contribute to profitability this time: Experts

Wednesday, October 13, 2021
People should always focus on high-quality companies but the opportunity set itself is going to be very different from the ones that we saw in 2018 and 2019 where the markets got very narrow on the top. I see a much wider breadth of industries starting to contribute to the overall profit pool, say, experts. Actually, they believe that while there has been a very strong consolidation in every sector and the big are getting bigger and the strong are getting stronger, the breadth of the market is likely to remain much wider and the opportunity set is likely to remain much wider. People should always focus on high-quality companies but the opportunity set itself is going to be very different from the ones that we saw in 2018 and 2019 where the markets got very narrow on the top. Read more

Sensex opened with a positive gap of 336 points at 60,620 and was quoted at 60,505 while Nifty up 83 points at 18,075

Wednesday, October 13, 2021
The Indian markets opened on a positive note today (13th Oct.2021), with benchmark indices scaling new peaks in opening trades, on the back of better-than-expected CPI September Inflation and August Industrial Output data. The headline inflation dropped to a 8-month low at 4.35 per cent, while the IIP grew at 11.9 per cent. The BSE Sensex opened with a positive gap of 336 points at 60,620, and was quoted at 60,505 at 09:17 AM. The NSE Nifty touched a high of 18,099 in opening deals, and was up 83 points at 18,075. Tata Motors zoomed 15 per cent to Rs 483.90 on the BSE after the company secured funding up to Rs 7,500 crore from TPG for its electric vehicle arm. This is the first major fundraising by an Indian carmaker to push mobility. Read more

Is Bitcoin headed towards record high?

Tuesday, October 12, 2021
Bitcoin, the largest cryptocurrency was trading just above $57,000 as of 7:52 a.m. in London, some $7,700 shy of its April record. A recent rally in digital tokens like Bitcoin and second-ranked Ether contrasts with the travails of assets such as stocks, bonds and gold amid a bout of jitters in global markets. Record highs for Bitcoin are possible, maybe at around $80,000 to $85,000 based on chart patterns, say some experts. Bitcoin’s climb has activated an inverted head and shoulders chart pattern. The so-called measured objective for Bitcoin derived from this pattern is about $79,000, which would top the all-time high of almost $65,000 from April. A study of Bitcoin and Ether price momentum shows that short-term momentum has crossed above the longer term trend. Over the past five years, both tokens were significantly higher a year after each such crossover. Positioning in the options market suggests bets on a continuation of the Bitcoin advance. Read more

Rising prices of coal to effect on steel companies' September qtr earnings

Tuesday, October 12, 2021
Rising prices of international coal – both coking and thermal - used in the making of ferrous and non-ferrous metals, respectively, are expected to have an impact on margins of metals companies in July-September quarter (Q2) as steel companies may see margins getting eroded, while the base firms could stand to benefit, said experts. Since metals is a cyclical sector, a year-on-year comparison for earnings would give a better picture. However, due to the ongoing pandemic and last year’s low base, sequential comparison has been taken in consideration to show a clearer picture on pricing and volume trend. Read more

MARKET UPDATE:Sensex down 83 points at 60,052 levels while Nifty down 10 points at 17,936

Tuesday, October 12, 2021
The markets were exhibiting volatility in early morning trade today (12th Oct.2021), amid negative gloabl cues and stock specific trading action. The BSE Sensex touched a low of 59,992 in the opening deals, but soon recovered losses and jumped to a high of 60,264. The Sensex, however, could not hold gains for long, and slipped back into the negative zone, down 83 points at 60,052.The NSE Nifty 50 index was down 10 points at 17,936. The broader markets, however, were holding some gains. The BSE Midcap was up 0.1 per cent at 26,000, and the Smallcap index was up 0.2 per cent at 29,555. IT stocks continued to reel under selling pressure for the second straight day. The BSE IT index was down 0.4 per cent at 34,600. The BSE Realty index is the other major loser, down 0.8 per cent at 4,177. Read more

Tata Motors gains 39 percent in a month on a strong outlook

Monday, October 11, 2021
Shares of Tata Motors hit an over three-year high of Rs 415.30 as they rallied 8.5 per cent on the BSE in Monday’s intra-day trade, continuing their journey northward on the back of a strong growth outlook for Jaguar Land Rover products.The Tata group subsidiary's scrip has rallied around 21% in the past five sessions, whereas in a month, it has risen about 39%. The company, however, warned that retail sales of Jaguar Land Rover for three-month ended September 2021 was constrained by the impact of the global semiconductor shortage.Tata Motors is in the advanced stages to raise $1 billion through the stock sale of its electric vehicle unit, the Times of India reported on Friday. "The global semiconductor supply issue represents a significant near-term challenge for the industry which will take time to work through. Read more

Closing Bell: Sensex 76.72, Nifty at 17,946.

Monday, October 11, 2021
At close, the Sensex was up 76.72 points or 0.13 percent at 60,135.78, and the Nifty was up 50.80 points or 0.28 percent at 17,946. HDFC Bank, ICICI Bank, ITC, Housing Development Finance Corporation (HDFC), Kotak Mahindra, others contributed the most to the indices’ gain today. TCS, Tech Mahindra, Infosys, HCL Technologies and Wipro were among the losers.BSE Midcap index gained over half a per cent or 141 points to 25,978, while the SmallCap index added 0.60 per cent or 176 points. The Nifty Bank index hit a new liftime high of 38,495 in the intra-day trade before closing 1.4 per cent higher at 38,294 levels. The Nifty Auto index was the biggest gainer of the day, up 2.7 per cent, while the Nifty IT index declined the most, down over 3 per cent. India VIX, the volatility index, was up 2.8 per cent to settle at 16.09 levels.

Domestic benchmark indices regained their charm after initial weakness

Monday, October 11, 2021
Indian benchmark indices regained their charm after initial weakness today(11th Oct.2021) even as weak global cues weighed on investor morale. Expectation of a better September quarter earnings kept buying intact in most counters.IT stocks were the biggest drags on indices as the underwhelming earnings report by TCS disappointed investors. Rest of the sectors saw heavy buying. After opening in the red, benchmark indices climbed higher. At 10.55 am, BSE flagship Sensex was up 247 points or 0.41 per cent to 60,306. NSE benchmark Nifty advanced 95 points or 0.53 per cent to 17,990. The index hit 18,000 mark during the day. “On the technical front, markets are in a structurally positive trend. Strong support can be seen at 17,700 level and 18,100 level may act as a near-term resistance in Nifty50,” said an expert. Read more

MARKET UPDATE:Sensex drops 100 points, Nifty at 17,875

Monday, October 11, 2021
The renewed strength in the equity market, which got a boost from the Reserve Bank of India (RBI) persisting with its accommodative monetary policy on Friday,8th October, could push the Nifty past the 18,000-mark in the days ahead. While investors will shift focus to September quarter earnings season starting this week, analysts warn that disappointments could take the wind out of their sails as stronger profits are seen as imperative to justify elevated share valuations. On 8th October (Friday), the Sensex reclaimed the 60,000 and the Nifty ended 0.6% shy of 18,000,though the market gave up a portion of early gains sparked by the Indian central bank's continued monetary support. Both indices had gained 2% last week, shrugging off global concerns over the likelihood of persistent high inflation, which is putting upward pressure on US bond yields.

Piramal Enterprises down 5 percent on demerger plan of pharma business

Friday, October 8, 2021
Shares of Piramal Enterprises were down 5 per cent to Rs 2,727.80 on the BSE in Friday's intra-day trade on profit booking after the company's board approved the demerger of the pharmaceuticals business and simplification of the corporate structure."The board of directors of Piramal Enterprises on October 7, approved a composite scheme of arrangement providing for the demerger of the pharmaceuticals business from Piramal Enterprises and simplification of the corporate structure to create two industry-focused listed entities in financial services and pharmaceuticals," company said in its release. While the financial services, including the recently acquired DHFL, will remain under Piramal Enterprise Ltd (PEL), the pharmaceutical operations will be carved out into a separate entity called Piramal Pharma Limited (PPL). Existing shareholders of PEL will get four shares of PPL for one share of PEL. Read more

RBI’s no change policy hints at rate hike ahead

Friday, October 8, 2021
Analysts across the spectrum lauded the Reserve Bank of India's money policy, as they believe a 'wait and watch' approach is appropriate for the time being. RBI kept all policy rates unchanged to bolster a fragile economic recovery and reiterated an accommodative stance to back sufficient liquidity and keep borrowing costs low for both the state and companies to help drive investments. Analysts, though, saw some signs of tightening ahead in Shaktikanta Das’ speech. “RBI signalled the beginning of gradual 'tapering'of liquidity by extending VRR auction tenor, a measure widely expected by markets. While RBI has refrained from committing any GSAP amount to support bond yields, its emphasis on an ‘orderly evolution of the yield curve’ should provide comfort to the bond market,” said Churchil Bhatt, EVP Debt Investments, Kotak Mahindra Life Insurance. Read more

Closing Bell: Sensex gains 381 points, Nifty at 17895.20

Friday, October 8, 2021
At close, the Sensex was up 381 points or 0.64% at 60059.06, and the Nifty was up 104.9 points or 0.59% at 17790.30 for the second consecutive session and as a result, the market closed higher in four out of five sessions this week, driven by positive global cues, and RBI policy, and ahead of September quarter earnings. Reliance Industries Ltd was the biggest gainer followed by Infosys, Tech Mahindra, HCL Tech, Tata Consultancy Services (TCS), L&T, Tata Steel, among others. On the flip side, NTPC, Hindustan Unilever Ltd (HUL), Maruti Suzuki, Dr. Reddy’s, Titan Company, Kotak Mahindra Bank were among index laggards. Bank Nifty gained 0.6 percent, Nifty Auto was up 0.4 percent while Nifty IT soared 2 percent, and Nifty PSU Bank index 1.65 percent. The BSE MidCap index ended 0.15 percent higher and the BSE SmallCap index added 0.92 percent.

MARKET UPDATE:Sensex up 432 points to 60,110 while Nifty advanced 126 points to 17,917

Friday, October 8, 2021
Indian domestic benchmark equity indices extended their gains today(8th Oct.2021), led by strong global cues and RBI's decision to maintain status quo. Auto and metal stocks saw buying while realty names were under pressure. “The market looks very volatile at the current position. We advise investors to book partial profits and keep a bit of cash balance in hand," said a expert. After opening in the green, benchmark indices maintained the lead. At 10.45 am, BSE flagship Sensex was up 432 points or 0.72 per cent to 60,110. NSE benchmark Nifty advanced 126 points or 0.71 per cent to 17,917. Read more

Key factors driving today's market rally

Thursday, October 7, 2021
Tata Motors, IndusInd Bank, Eicher Motors, ICICI Bank, SBI Life Insurance, and Reliance Industries were among other gainers.ONGC was the top loser in the pack, down 2.17 percent. Divi’s Labs and Britannia Industries were among those that traded in the red. FACTORS DRIVING MARKETS: Crude oil cools off: Oil prices dropped back from multi-year highs hit a day earlier, having been a major contributor to this week's equities sell-off. Gas prices also fell, a day after Russian leaders indicated that supply to Europe could increase. Read more

Titan shares gains 11 percent on strong Q2 biz update

Thursday, October 7, 2021
Shares of Titan rallied 9 percent and hit a new high of Rs 2,384 on the BSE in Thursday’s intra-day trade after the company reported a strong 78 percent year-on-year (YoY) revenue growth in the July-September quarter (Q2FY22). The watches and wearables segment registered 73 percent growth and the eye-wear business was up by 74 percent YoY. The stock of Tata group company surpassed its previous high of Rs 2,205.65 on Tuesday, October 5, 2021.“The company witnessed a strong recovery in demand after the second wave across its consumer businesses with sales moving swiftly above or close to pre-pandemic levels in most of the divisions. Most stores are now fully operational barring a few in select towns having localized restrictions, with overall store operation days exceeding 90% for the quarter Read more

Closing Bell: Sensex gains 488 points, Nifty at 17790.35

Thursday, October 7, 2021
At close, the Sensex was up 488.10 points or 0.82% at 59677.83, and the Nifty was up 144.30 points or 0.82% at 17790.30..Titan was the top Sensex gainer, followed by IndusInd Bank, Mahindra & Mahindra, and Asian Paints. ONGC, Dr. Reddy's Labs, Coal India, Britannia HDFC Bank, and HDFC were the only two laggards on Sensex. About 2096 shares have advanced, 1023 shares declined, and 119 shares are unchanged. Except for oil & gas, all other sectoral indices ended in the green, with Nifty realty and auto indices rising 4-6 percent. The BSE MidCap and SmallCap indices added 1.7 percent and 1.4 percent, respectively. The volatility index, India VIX, meanwhile fell nearly 7 percent.

Sensex soared 576 points at 59,766 levels while Nifty aadvanced 168 points to quote at 17,814

Thursday, October 7, 2021
Indian benchmark indices mirrored trends in Asian markets and posted solid gains today. The frontline S&P BSE Sensex soared 576 points, or 0.97 percent, at 59,766 levels in early deals today led by Titan Company (up 9 percent), IndusInd Bank, Asian Paints, M&M, SBI, Reliance Industries, and ICICI Bank.Nifty50, meanwhile, advanced 168 points to quote at 17,814. In the broader markets, the BSE MidCap and SmallCap indices rallied 1 percent and 1.3 percent, respectively. The broader markets have also started the day on a firm note, with the BSE Midcap and Smallcap indices up over a percent each. Here's a detailed view of the broader indices on the BSE. Read more

Marico rallies 6% hits record high on healthy business growth in Q2

Wednesday, October 6, 2021
Shares of Marico rallied nearly 6 percent to hit a record high of Rs 590 on the BSE in Wednesday’s intra-day trade after the company said it has witnessed healthy consumer sentiment across categories and has recorded revenue growth in the low twenties with strong double-digit volume growth on a 2-year compound annual growth rate (CAGR) basis during the September 2021 quarter. "During the quarter, the sector witnessed improving demand trends as mobility levels increased with reducing COVID-19 infections and accelerated vaccination drives. Discretionary categories and out-of-home consumption also visibly picked up," the company said in a regulatory filing. Parachute oil delivered with their medium-term aspirations. Saffola franchise, Saffola Edible Oils had a muted quarter, largely due to volatility in edible oil prices leading to trade destocking and partly owing to lower in-home consumption. Read more

Weakening rupee, rising crude oil and gas prices and impending power shortage dragged indices;Sensex tanks 555 pts

Wednesday, October 6, 2021
The weakening rupee, rising crude oil and gas prices and impending power shortage that has the potential to slow down economic recovery weighed on domestic benchmark indices on Wednesday. All quarters of the market saw selling, led by metal and realty names, wiping off Rs 2.78 lakh crore of equity wealth reflected by the total market cap of BSE-listed companies. The 30-share pack Sensex declined 555.15 points or 0.93 percent to close at 59,189.73. The index closed down nearly 800 points from the day’s high. Its broader peer NSE Nifty dropped 176.30 points or 0.99 percent to 17,646. “Spike in crude prices is spooking the Indian market while inflation is affecting US bond yields. RBI commenced its three-day MPC meeting in which the central bank is expected to keep rates unchanged, however, it is likely to announce measures to gradually pump out liquidity from the economy," said Vinod Nair, Head of Research at Geojit Financial Services.

Closing Bell: Sensex down 555 points, Nifty at 17646.00

Wednesday, October 6, 2021
At close, the Sensex was down 555.15 points or 0.93% at 59,189.73, and the Nifty was down 176.30 points or 0.99% at 17,646. Hindalco, SBI Life, IndusInd Bank, JSW Steel, and Tata Steel were among the major losers on the Nifty. Tata Consumer, ONGC, UPL, Britannia, and HDFC Bank were among the major gainers. About 1291 shares have advanced, 1754 shares declined, and 115 shares are unchanged.BSE Midcap index plunged 1.22 percent, BSE SmallCap index fell 158 points or 0.55 percent Sectorally, Bank Nifty index fell over half a percent to end at 37,522. all sectoral indices ended in the red with capital goods, IT, metal, pharma, auto, realty and PSU Bank indices falling in the 1-3 percent range. India VIX, volatility index, jumped 5.70 percent

Consumer major Marico stock up 12% from Aug lows

Wednesday, October 6, 2021
Consumer major Marico stocks rose about 2.4 percent in trade today(6th Oct.2021) after its quarterly update highlighted pick up in demand and improving consumer sentiment across categories. While the ongoing vaccination and lower covid infections not only led to healthy overall demand, improved mobility too rubbed off on growth in discretionary and out-of-home categories. For its domestic business which accounts for three-fourths of its revenues, revenue growth came in at low twenties which was in line with analyst estimates. After an 11 percent dip in Q1FY21, Marico’s revenue growth has been trending up over the last three quarters on a lower base and gradual recovery. The company had ended the June quarter with a growth of 26 percent. While the sharp 14 percent decline in domestic volumes had dragged down the two-year average quarterly growth to 3.5 percent in the June quarter, the company indicated that the metric is now closer to double digits. Read more

MARKET UPDATE:Sensex rose over 120 points to trade at 59,872 levels while Nifty above 17,850

Wednesday, October 6, 2021
The Indian benchmark indices opened in the positive territory today(6th October 2021) with Nifty above 17,850. The BSE Sensex rose over 120 points to trade at 59,872 levels. The 50-pack index, meanwhile, gained nearly 50 points at 17,870. ONGC, IOC, and Coal India were the top gainers on the benchmark index. Top laggards were Titan, Divi's Lab, SBI Life, and IndusInd Bank. Sectorally, barring Nifty IT and Pharma, all indices were in the green. The broader indices, too, opened higher. The Nifty Midcap 100 rose 0.4 percent and the Smallcap 100 was higher by 0.7 percent. In pre-open itself, the Midcap index had hit new record high levels. Read more

Tatapower hits 52 week high on partnership with TVS Motor

Tuesday, October 5, 2021
Shares of tata power gained 6.5 percent and hit a 52 week of Rs 179.65 on the back of forming a partnership with TVS Motor Company for the implementation of electric vehicle charging infrastructure and deploy solar power technologies at TVS Motor locations. The partnership aims to create a large dedicated electric two-wheeler charging infrastructure to accelerate electric mobility in India. This will also give the customers of TVS iQube Electric access to the widespread charging network by Tata Power through the TVS Motor customer connect app and Tata Power EZ Charge app across India. The partnership aims to create a regular AC charging network and a DC fast-charging network for electric two-wheelers. This partnership will further help drive EV adoption in the country among two-wheeler customers who aspire to take a step in going electric. The two companies will also explore opportunities to use solar energy to power select TVS Motor locations. Read more

ervices activities moderate in Sept but firms continue hiring: PMI survey

Tuesday, October 5, 2021
Activities in services, the biggest sector in the Indian economy, moderated in September compared to August though states eased restrictions to slow down the coronavirus, said the IHS Markit purchasing managers' index (PMI) survey today(5th Oct.2021). Activities still grew second-fastest since February 2020. PMI declined to 55.2 in September from 56.7 in August. In the PMI lexicon, a reading above 50 shows expansion, while below it means contraction. PMI in September declined from an 18-month high index in the previous month. Whereas the index in August had risen on the base of contraction with PMI standing at 45.4 in July. (PMI measures activities on a month-on-month basis.) Respondents to the survey mentioned accommodative market conditions and favourable underlying demand amid the easing of Covid-19 restrictions. With the pandemic receding, consumer footfall improved. This, coupled with marketing efforts, reportedly supported another increase in new business inflows.

Action now shifted to the mid-and small-cap segments after the stupendous rally

Tuesday, October 5, 2021
Now the action seems to have shifted to the mid-and small-cap segments after the stupendous rally that saw the S&P BSE Sensex cross the 60,000 mark on September 24. At a time when the markets navigated through an uncertain phase of rising oil prices, plans of liquidity taper by the US Federal Reserve (US Fed), and developments in China, S&P BSE Sensex slipped over 1 percent. The mid-and small-cap indices on the BSE, on the other hand, moved up over 2 percent and 1 percent, respectively during this period. Gains in some of the individual stocks in the mid-and small-cap space have been noticeable. India Glycols, Patel Engineering, Brightcom, Godfrey Phillips India, Tejas Networks, and IDBI Bank have surged 24 percent to 47 percent during this period, ACE Equity data show. Read more

Closing Bell: Sensex gains 445 points, Nifty at 17822.30

Tuesday, October 5, 2021
At close, the Sensex was up 445.56 points or 0.75% at 59,744.88, and the Nifty was up 131 points or 0.74% at 17,822.30 ended higher in the second consecutive session on October 5 amid mixed global cues. IndusInd Bank was the top Sensex gainer, followed by Bharti Airtel, HCL Technologies, and Reliance Industries. Sun Pharma was the top loser, followed by ITC, Power Grid, and Ultratech Cement. About 2025 shares have advanced, 1184 shares declined, and 154 shares are unchanged. Barring bank, realty, and pharma, all other sectoral indices ended in the green led by oil & gas, power, and IT indices. BSE midcap and smallcap indices rose 0.33 percent and 0.54 percent, respectively.

MARKET UPDATE:Sensex down 100 points at 59,199 while Nifty fell 23 points to 17,667

Tuesday, October 5, 2021
The Indian domestic benchmark indices opened lower today(5th October 2021) amid weak global cues. The Sensex was down 100 points or 0.12% at 59,199. The Nifty, meanwhile, fell 23 points to 17,667. Top gainers in the 50-pack index were ONGC, IOC, UPL, and Maruti Suzuki. Top losers included Cipla, Bajaj Finserv, and Sun Pharma. On the sectoral front, barring Nifty Media, FMCG, and auto, all indices were trading in the red. However, broader markets were in the green, with the Nifty Midcap 100 rising 0.06 percent and the Smallcap 100 up by 0.39 percent.

Economic recovery or not, most of the macro indicators are trending upwards

Monday, October 4, 2021
The RBI’s monetary policy review is due on October 6. WPI inflation rose in August 2021 to 11.4 percent, from 11.2 percent the previous month. While that increase may seem marginal, it’s important to note that average WPI inflation in the last five months has been 11.6%. Retail inflation, at 5.3% in August, has not only spent two consecutive months below the RBI’s upper tolerance limit of 6%, but has also come down to below the level it was at before the second wave struck. Given the sheer amount of liquidity made available by the RBI over the last year and more, the fact that retail inflation is low while the Sensex has been scaling new heights suggests that investment activity so far has been restricted to equities rather than factories and that demand is still subdued. Read more

Closing Bell:Sensex gains 533 points, Nifty at 17691.25

Monday, October 4, 2021
At close, the Sensex was up 533.74 points or 0.91% at 59,299.32, and the Nifty was up 159.30 points or 0.91% at 17,691.30 snapped their four-day losing streak.NTPC was the top Sensex gainer on Monday, followed by Bajaj Finserv, State Bank of India, and Bajaj Finance. Bajaj Auto was the worst-performing stock, followed by HUL and Nestle India. About 2227 shares have advanced, 961 shares declined, and 172 shares are unchanged. The BSE Midcap and BSE Smallcap indices gained1.51 percent and 1.71 percent, respectively. All Nifty indices ended in the green with the Nifty Metal, Media, Realty, and PSU Bank indices rising over 2 percent each.

MARKET UPDATE:Sensex up 350 points at 59,123 and Nifty up 100 points at 17,634

Monday, October 4, 2021
The Indian benchmark indices kicked off the week on an upbeat note amid mixed cues from global markets. The Sensex was up 350 points at 59,123. The Nifty, meanwhile, was up 100 points at 17,634. Top gainers on the 50-pack index include Divi's Lab, Tata Motors, M&M, and NTPC. Grasin, JSW Steel, Eicher Motors, and Nestle India remain top laggards. The broader indices, too, opened in the positive territory with the Nifty Midcap 100 up 0.7 percent and the Smallcap 100 0.09 percent. The volatility indicator-India VIX-rose by 1.6 percent at 17.48 level.

Amit Shah-led AISAM to soon approve Air India sale

Friday, October 1, 2021
Amid the buzz of the Centre approving Air India's sale to Tata Sons, government officials said that the highest decision-making body constituted for the national carrier's divestment is yet to meet to grant its nod for the transaction. The Air India Specific Alternative Mechanism (AISAM) headed by Home Minister Amit Shah is yet to meet to approve the sale of Air India, an official said. The panel is expected to meet soon to grant a final nod to the sale of the national carrier. The panel has Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, and Aviation Minister Jyotiraditya Scindia as members. The government expects the final bid to at least match the reserve price. But, it may still go ahead with the disinvestment process even if the bid quoted is lower than the reserve price. The government is looking to complete the sale of Air India as early as this month.

GST collection grows 23% to Rs 1.17 trn in September

Friday, October 1, 2021
GST collection grew 23 percent in September compared to the same period last year and even surpassed the pre-covid year of 2019-20. The collection continues to exceed Rs 1 trillion mark for the third month showing clear signs of recovery for the Coronavirus (Covid-19) battered economy. “Coupled with economic growth, anti-evasion activities, especially action against fake billers, have also been contributing to the enhanced GST collections. It is expected that the positive trend in the revenues will continue and the second half of the year will post higher revenues," the finance ministry said today(1st Oct.2021). While the improvement in the collection is also evident month on month as in August the collection stood at Rs 1.12 trillion, in July, the collection stood at Rs 1.16 trillion. Read more

Tata Steel sells entire stake in NatSteel Holdings for $172 million

Friday, October 1, 2021
Tata Steel has sold its Singapore unit, NatSteel Holdings Pte,17 years after it acquired for ₹1,275 crore ($172 million). TopTip Holding Pte, a Singapore-based steel and iron ore trading company.However, the wires business of NatSteel in Thailand (Siam Industrial wires) has been retained by Tata Steel as part of the downstream wires portfolio. Based on the historical performance of the transacted business, the enterprise value to EBITDA works out to about 13 times. In the past, Tata Steel had attempted to sell NatSteel Singapore but the move had failed. In 2019, the Indian company had inked an agreement with China’s Hebei Iron and Steel Group to sell NatSteel Singapore along with its other operations in Vietnam and Thailand (Millennium Steel). But the deal had collapsed as it failed to pass muster with the Hebei government. Read more

Closing Bell:Sensex falls 360 points, Nifty at 17532.05

Friday, October 1, 2021
At close, the Sensex was down 360.78 points or 0.61% at 58,765.58, and the Nifty was down 86.20 points or 0.49% at 17,532.00. Bajaj Finserv, Maruti Suzuki, Asian Paints, Bajaj Finance, Bharti Airtel, Housing Development Finance Corporation (HDFC), NTPC, Tata Consultancy Services (TCS) were top index draggers. On the flip side, M&M, Dr. Reddy’s Laboratories, UltraTech Cement, Power Grid Corporation of India, Reliance Industries Ltd (RIL), Bajaj-Auto were among the top Sensex gainers. About 1716 shares have advanced, 1373 shares declined, and 150 shares are unchanged. On the sectoral front, the Nifty Realty index fell 1.5 percent and Bank Nifty was down over half a percent. While Nifty Pharma was up nearly one percent. Buying was seen in the pharma, metal, PSU Bank, and energy sectors. Some selling was seen in the reality, bank, and IT sectors.BSE midcap and smallcap indices ended with little change.

MARKET UPDATE:Sensex down 394 points at 58,732 and Nifty down 110 points at 17,508

Friday, October 1, 2021
The Indian benchmark indices opened lower today(1st October 2021) tracking weak global cues. The Sensex was down 394 points at 58,732. The Nifty, meanwhile, was down 110 points at 17,508. The broader indices were trading mixed with the Nifty Midcap 50 falling 0.3 percent, and the Nifty Smallcap 100 up 0.1 percent. The risk-off in equity markets has gathered momentum with sharp cuts in the US market. The Dow and S&P500 are now more than 5% off from their record highs. Markets, globally, have turned weak. In India too there are indications of a correction. The leader of this rally, IT, is showing signs of exhaustion. Read more

Persistent Systems gains 6 percent, after announcing two acquisitions

Thursday, September 30, 2021
Shares of Persistent Systems jumped 6 percent to Rs 3755 on the BSE in an intra-day session on Thursday after the company said its US subsidiary will acquire North Carolina-based Software Corporation International (SCI) and its affiliate, Fusion360. Persistent also acquired New Jersey-based Shree Partners and its India subsidiary Shree Infosoft for $6.87 million. Persistent will be acquiring 100% in both these companies for a cash payment of $53 million for SCI and $6.87 million for Shree’s US and Indian business. For SCI, Persistent would be paying $34.45 million upfront and $5.96 million per annum over the next two years. Also, Persistent would pay $2.21 million per annum for three years to retain key employees. To acquire Shree Partners, an upfront payment of $3.37 million and $1.5 million per annum will be made over two years. Another $500,000 would be paid to retain employees over the next three years. Read more

Meesho raises $570 mn and its valuation doubles to $4.9 bn

Thursday, September 30, 2021
Social commerce startup Meesho today(30th Sept.2021) said that it has raised $570 million led by Fidelity Management & Research Company and B Capital Group, a venture capital firm co-founded by Facebook co-founder Eduardo Saverin. Existing investors Prosus Ventures, SoftBank Vision Fund 2, and Facebook also participated in this round. Other new investors include Footpath Ventures, Trifecta Capital and Good Capital, and others. Following the rise, the company’s valuation has more than doubled to $4.9 billion in less than five months. Meesho aims to reach 100 million monthly transacting users by December 2022. It expects to utilise the fresh round of funding to grow its technology and product talent by 2.5x, increase its roster to over 50 million products, and become the platform of choice for customers, entrepreneurs, and sellers from all corners of India. Read more

Closing Bell: Sensex falls 286 points, Nifty at 17618.15

Thursday, September 30, 2021
At close, the Sensex was down 286.91 points or 0.48% at 59126.36, and the Nifty was down 93.10 points or 0.53% at 17618.20 for the third day in a row defying firm global cues. Bajaj Finserv was the top Sensex gainer, followed by Bajaj Finance, NTPC, and Sun Pharma. Powergrid was the worst-performing Sensex constituent, followed by Asian Paints, Axis Bank, and Kotak Mahindra Bank.About 1804 shares have advanced, 1393 shares declined, and 149 shares are unchanged. On the sectoral front it was a mixed trend, with buying seen in the realty, pharma, power and PSU banking stocks. Selling was seen in the auto, bank, IT, metal names.The BSE MidCap and SmallCap indices, however, closed higher, up 0.3 per cent and 0.6 per cent, respectively.

Air India reserve price likely to be Rs 15,000-20,000 crore

Thursday, September 30, 2021
It is indicated that the reserve price of Air India would be in the range of Rs 15,000-20,000 crore. The government has considered the future cash flow projection of Air India, its brand value, and intangible assets like bilateral rights and slots in foreign airports to set the reserve price for the airline. The government expects the final bid to at least match the reserve price. But, it may still go ahead with the disinvestment process even if the bid quoted is lower than the reserve price. Valuation firm RBSA Advisors and EY- the consultant for the disinvestment - gave a presentation to the committee of secretaries headed by the cabinet secretary on Tuesday, a person in the know said. Following the presentation, the committee headed by cabinet secretary Rajiv Gauba yesterday(29th Sept.) met to finalise the reserve price, which will then be used as a benchmark to compare the financial bids. Tata Sons are the favourite to win the bid. Read more

MARKET UPDATE:Sensex sheds around 100 pts, Nifty tests 17,700

Thursday, September 30, 2021
The Indian benchmark indices looked set to extend their fall to the third day in a row amid a host of weak macro cues. Also, volatility could remain high on account of monthly F&O expiry. At 8.15 am, SGX Nifty was trading 50 points down at 17,655. The US markets traded with caution on Wednesday amid crude oil disruptions, inflation, and ongoing debt ceiling debate. Overnight, the Dow Jones and S&P 500 index bounced back a wee bit in green, but Nasdaq however, ended 0.3 percent lower. This morning, the Asian markets are trading on a mixed note. Shanghai and Straits Times are up, while Nikkei and Hang Seng are down.

Cabinet approves Rs 4,400 crore capital infusion into Export Credit Guarantee Corp in 5 years

Wednesday, September 29, 2021
The Union Cabinet today(29thSept.2021) approved capital infusion of Rs 4,400 crore in the state-owned Export Credit Guarantee Corporation (ECGC) and its listing through an initial public offering. The government will inject Rs 4,400 crore in the ECGC over a period of five years beginning 2021-22, said Commerce Minister Piyush Goyal told reporters after the Cabinet meeting. He also said Rs 500 crore infusion will be done immediately. The listing of ECGC is likely to happen next year. The minister also informed that exports have totaled Rs 185 billion till September 21, 2021, in the current fiscal. Read more

Bankrupt DHFL acquired by Piramal Group for total consideration of Rs 34,250 cr

Wednesday, September 29, 2021
Today (29th Sept. 2021) Piramal Enterprises said that it had completed the acquisition of Dewan Housing Finance Limited (DHFL) by paying the consideration amount of Rs 34,250 crore. This marks the first successful resolution of a financial services company under the Insolvency and Bankruptcy Code (IBC). The total consideration paid by the Piramal Group of Rs 34,250 crores at the completion of the acquisition, includes an upfront cash component of Rs 14,700 crores and issuance of debt instruments of Rs 19,550 crores (10-year NCDs at 6.75% p.a. on a half-yearly basis). Read more

Godrej Properties to redevelop residential project in Mumbai

Wednesday, September 29, 2021
Shares of Godrej Properties hit a new high of Rs 2,409.95 as they rallied 8 percent on the BSE in the intra-day trade on Wednesday and the stock has skyrocketed 60 percent in a month after the company said it will develop a residential project in Wadala, Mumbai. Also, the reason behind this rally was attributed to expectations of strong demand ahead of the festive season, no property price hike by developers, low-interest-rate regime, and easing of Covid-19 restrictions, ” Godrej Properties has entered into an agreement to redevelop a land parcel at Wadala in Mumbai. Spread across 7.5 acres, the project will offer about 1.6 million square feet of the saleable area comprising residential apartments of various sizes, Godrej Properties said in a regulatory filing to the stock exchanges. Read more

Closing Bell: Sensex falls 254 points, Nifty at 17711.30

Wednesday, September 29, 2021
At close, the Sensex was down 254.33 points or 0.43% at 59,413.27, and the Nifty was down 37.30 points or 0.21% at 17,711.30. NTPC was the top Sensex gainer, followed by PowerGrid, Sun Pharma, and SBI. HDFC, Ultratech Cement, and Asian Paints were the worst performing Sensex stocks. About 1830 shares have advanced, 1371 shares declined, and 151 shares are unchanged. The power, metal, pharma, and realty indices added 1-3.5 percent, while selling was seen in the auto, bank, capital goods, FMCG names. Midcap and smallcap indices outperformed the benchmark, closing with gains. India VIX was 1.62% higher at the end of the day’s trade.

MARKET UPDATE:Sensex touched a low of 59,149, was down around 290 points while Nifty recovered from a low of 17,608 and down 76-odd points at 17,673

Wednesday, September 29, 2021
The Indian benchmark indices have recovered partially from the early morning lows on the back of selective buying interest in pharma, realty, and energy shares. The Sensex, which, touched a low of 59,149, was down around 290 points at 59,376 in mid-morning deals today(29th Sept.2021). The NSE Nifty recovered from a low of 17,608 and was down 76-odd points at 17,673. Lupin and Dr.Reddy's are the major gainers up 3.1 percent and 2.5 percent respectively. Sun Pharma, Torrent Pharma, and Biocon are the other prominent gainers on the NSE. The Power index has logged smart gains for the second straight day on the back of follow-up buying in power majors - NTPC and PowerGrid Corporation. Tata Power, CESC, and Adani Power too have logged strong gains.

BHEL share price rises 7% after Bagging Order From Goa Shipyard

Tuesday, September 28, 2021
The share price of Bharat Heavy Electricals Limited (BHEL) gained more than 7 percent on Tuesday, September 28, after the state-run enterprise bagged an order from Goa Shipyard for a warship gun mount. Goa Shipyard's order involves envisages supply, installation, and commissioning of the entire system, the supply of an upgraded Super Rapid Gun Mount or SRGM - the Main gun onboard most Warships of the Indian Navy, which will be manufactured at the Haridwar unit of Bharat Heavy Electricals. BHEL has established dedicated, intricate manufacturing and inspection facilities at its manufacturing plants, for production, installation & commissioning, and lifecycle support of various products and components. Read more

Swiggy is finalising new financing likely to be led by US asset manager Invesco

Tuesday, September 28, 2021
Swiggy is finalising a new financing round of about $500-600 million that is likely to be led by US asset manager Invesco, according to some sources. The exercise is likely to catapult the valuation of the online food delivery company to as much as $10 billion, which is double the valuation ascribed to the seven-year-old venture a few months ago. If the deal fructifies, Swiggy will rank among India’s most valued privately owned startups after ed-tech firm Byju’s and fintech major Paytm, which is slated to go public later this year. The latest financing for Swiggy comes close on the heels of its arch-rival Zomato’s bumper IPO and is being seen as a re-rating exercise for the Bengaluru firm that is presently valued at $5.5 billion. Invesco is likely to plough in about $150-200 million, while existing investors in Swiggy like Falcon Edge, SoftBank Vision Fund, Prosus (formerly Naspers) will pump in the rest of the capital, according to the sources.

Centre initiates talks with RBI to kick-off bank privatisation process

Tuesday, September 28, 2021
The government has initiated consultations with the Reserve Bank of India (RBI) to devise a new security clearance framework for screening potential bidders of public sector banks (PSBs) as it kick-starts the privatisation process, beginning with the strategic divestment of IDBI Bank. As the government is moving ahead with strategic divestment of IDBI Bank and is looking to privatise two PSBs, the Department of Investment and Public Asset Management (DIPAM) is looking to put in place an appropriate framework as the potential buyers will have to meet the RBI’s fit and proper criteria, according to an official. Read more

Closing Bell: Sensex down 410 points, Nifty at 17748.60

Tuesday, September 28, 2021
At close, the Sensex was down 410.28 points or 0.68% at 59,667.60, and the Nifty was down 106.50 points or 0.60% at 17,748.60. HDFC Bank, Bharti Airtel, HCL Tech, Infosys, Asian Paints, Tech Mahindra, TCS, Bajaj Finserv were among the top Sensex draggers. Power Grid Corporation of India, NTPC, Titan Company, RIL, Tata Steel were top Sensex gainers. About 1463 shares have advanced, 1715 shares declined, and 164 shares are unchanged. On the sectoral front, Bank Nifty plunged over 2 percent after hitting a fresh record high. Nifty Realty index tumbled 4.5 percent.IT fell 2 percent. while power, oil & gas, and metal indices ended in the green.BSE midcap and smallcap indices ended lower with each down over 0.5 percent.

MARKET UPDATE:Sensex dropped over 100 points to trade below the 60,000 while Nifty trading near the 17,800-mark at 17,921

Tuesday, September 28, 2021
The Indian benchmark indices opened in the negative territory today(28th Sept.2021) amid tepid Asian cues. The BSE Sensex dropped over 100 points to trade below the 60,000-mark at 59,943. The Nifty50, meanwhile, was trading near the 17,800-mark at 17,921. Coal India, NTPC, UltraTech Cement, ONGC were among the top gainers in the 50-pack index. The top laggards were in the IT sector, namely HCL Tech, Infosys, Tech Mahindra, and Wipro. On the sectoral front, most indices were in the red with Nifty Realty falling 2 percent. Other losers were Nifty IT, Media, and Pharma. the only gainers were PSU Bank up 1 percent, Nifty Metal, and FMCG.

PVR, Inox rallied 18 percent and hit 52-week high as theatres to reopen

Monday, September 27, 2021
Shares of multiplex owners Inox Leisure and PVR climbed up to 18 percent and hit their respective 52-week highs on the BSE in intra-day trade on Monday after the Maharashtra government announced the reopening of cinema halls and drama theatres in the state from October 22, ahead of Diwali. Stock market participants are further bullish on the multiplex stocks on the back of the reopening theme. However, they will start operations at 50 percent strength. So, it is still two to three quarters more when these theaters will start their operations at 100 percent strength. Maharashtra is one of the largest markets for cinema theatres with a contribution of around 25 percent of the Hindi box office revenue. Theatres and movie halls across India have been closed since April this year. Chief Minister Uddhav Thackeray in a tweet said the standard operating procedure (SOP) for the reopening was in the works and would be announced at the earliest. Read more

Closing Bell: Sensex gains 29 points, Nifty at 17855.10

Monday, September 27, 2021
At close, the Sensex was up 29.41 points or 0.05% at 60077.88, and the Nifty was up 1.90 points or 0.01% at 17855.10. Reliance Industries Ltd, HDFC Bank, Maruti Suzuki, ICICI Bank, M&M contributed the most to the indices’ gain. while losers included HCL Technologies, Divis Labs, Wipro, Tech Mahindra, and Bajaj Finserv.About 1592 shares have advanced, 1682 shares declined, and 176 shares are unchanged. Nifty IT tumbled 2.88 percent, followed by Nifty Pharma that lost 0.93 percent, and Nifty FMCG that declined 0.90 percent. On the other hand, auto stocks gained 3.22 percent higher. Nifty Realty and Media were among other top gainers. While real estate stocks continued to gain traction amid increased demand, the media stocks rallied as Maharashtra allowed the opening of cinema halls. The BSE Midcap closed flat and BSE Smallcap down 0.13 percent. India VIX, the volatility index, jumped nearly 7 per cent to end at 18.05 levels.

India and Taiwan Talks on $7.5-billion chip plant, trade deal on a fast track

Monday, September 27, 2021
India and Taiwan are in talks on an agreement that could bring chip manufacturing to South Asia along with tariff reductions on components for producing semiconductors by the end of the year. Officials in New Delhi and Taipei have met in recent weeks to discuss a deal that would bring a chip plant worth an estimated $7.5 billion to India to supply everything from 5G devices to electric cars, the people said. India is currently studying possible locations with adequate land, water, and manpower while saying it would provide financial support of 50% of capital expenditure from 2023 as well as tax breaks and other incentives, the people said. Officials in Taipei wanted quick progress on a bilateral investment agreement that would include tariff reductions on dozens of products used to make semiconductors - a precursor to a broader trade deal also under consideration, according to the sources.

Sensex rises for 3rd day; Nifty Auto, Realty gain;IT tumbled 2.88 per cent

Monday, September 27, 2021
The benchmark indices managed to eke out gains, amid buying in index heavyweight RIL, bank, and auto stocks in a high volatility session. Even as the global market setup remained firm, investors were jittery with the markets hovering at all-time high levels and amid steep valuations. Overall, the BSE Sensex gyrated 525 points and settled the day 29 points higher at 60,078. Meanwhile, the NSE Nifty shut shop at 17,855, up only 2 points. During the day, the BSE Sensex managed to log a fresh record high of 60,412. In the 30-pack index, Maruti, M&M, Bajaj Auto, and NTPC were the top gainers, up between 2-6 percent while HCL Tech, Tech Mahindra, Bajaj Finserv, and Infosys were the top losers, down up to 4 percent. Read more

MARKET UPDATE:Sensex trading 240 points up at 60,280 level while Nifty held above the 17,900 level at 17,925

Monday, September 27, 2021
The benchmark indices in India today (27th Sept.2021) kicked off the week on an upbeat note, tracking positive global cues. The BSE Sensex was trading 240 points up at 60,280 levels. The Nifty50, meanwhile, held above the 17,900 level at 17,925. ONGC, Tata Motors, M&M, Maruti Suzuki, and Eicher Motors were among the top gainers in the 50-pack index while the top laggards were Divi's Lab, Wipro, HCL Tech, and Cipla. Nifty Bank led the gainers in the sectoral space after it hit a fresh record high of 38,177. The index was trading nearly 1 percent higher. Other sectors that were gaining included Nifty Realty, Auto, PSU Bank, and Media. Some selling was seen in IT, FMCG, and pharma stocks. The broader indices, too, opened in the positive territory with the Nifty Midcap 100 up 0.1 percent and the Smallcap 100 higher by 0.3 percent. The volatility indicator--India VIX--rose by 3.3 percent at 17.47 level.

Closing Bell:Sensex gains 163 points, Nifty at 17853.20

Friday, September 24, 2021
At close, the Sensex was up 163.11 points or 0.27% at 60,048.47 ended above the 60,000-mark for the first time on Friday, and the Nifty was up 30.20 points or 0.17% at 17,853.20. Bajaj Finservice, Larsen & Toubro (L&T), Housing Development Finance Corporation (HDFC), Axis Bank, IndusInd Bank, State Bank of India (SBI) were top Sensex gainers.On the contrary, only Dr Reddy’s Laboratories, Nestle India and ITC were the index laggards. About 1286 shares have advanced, 1894 shares declined, and 152 shares are unchanged.The BSE MidCap index fell 1 per cent, while SmallCap index slipped 0.3 per cent. Barring, Nifty IT, Auto and Realty all other sectoral indices, ended in the red. Bank Nifty rallied 2.24 per cent settle at 37,771, while Nifty Realty index skyrocketed nearly 1.5 percent.

Sensex above 60,000: Time to rejig portfolio and buy the dips:Analysts

Friday, September 24, 2021
The 30-share Sensex index scripted history today(24th Sept.2021) as it breached the 60,000 marks for the first time. The BSE barometer hit an all-time high of 60,333 and took just 91 sessions to climb the latest 10,000-points rally. It had hit the 50,000-mark for the first time on May 18, 2021. While expensive valuations and a cautious global mood given the developments in China and the possibility of a third Covid wave may trigger mild profit booking in days ahead, most analysts remain optimistic and suggest a market correction, if any, should be bought into from a medium-to-long-term perspective. Read more

MARKET UPDATE:Sensex surged past the 60,000 mark for the first time while Nifty 105 points higher at 17,927

Friday, September 24, 2021
The Indian markets made history as Sensex surged past the 60,000 marks for the first time, achieving another feat since the bull run started last year. Led by strong gains in IT and banking counters, the BSE Sensex was trading 400 points up at 60,286 and the Nifty was 105 points higher at 17,927. The top gainers in the 50-pack index included Infosys, Wipro, and HCL Tech, while the top losers were Hindalco, JSW Steel, and Tata Consumer Products. The broader indices, too, opened firm, with the Nifty Midcap 100 up 0.5 percent and the Smallcap 100 higher by 0.74 percent. The volatility indicator--India VIX--rose by 1.14 percent at 16.79 level. Further, sectorally, the top gainer remained to be the Nifty IT pack, which rose over 2 percent. The only sectoral laggards in opening trade were Nifty Media (down 0.93 percent), Nifty Metal (0.84 percent), Nifty FMCG (down 0.14 percent), and Nifty PSU Bank (down 0.02 percent).

Bajaj Finserv market cap nears Rs 3 trillion

Thursday, September 23, 2021
Shares of Bajaj Finserv hit a new high of Rs 18,702 as they rallied 6 percent on the BSE in Thursday’s intra-day trade on the back of heavy volumes. Bajaj Finserv shares have given multi-bagger returns in 2021 so far as it is up more than 100% this year. The holding company for the various financial services businesses of the Bajaj Group is set to join elite list companies that have a market capitalization of Rs 3 trillion. Bajaj Finserv Ltd., incorporated in the year 2007, is a Large Cap company (a market cap of Rs 284322.91 Crore) operating in the NBFC sector. Bajaj Finserv is primarily engaged in the business of promoting financial services such as finance, insurance, wealth management, etc. through its investments in subsidiaries and joint ventures. The company is also engaged in the business of generating power through wind turbines, a renewable source of energy. Read more

India may seek a ratings upgrade from Moody’s

Thursday, September 23, 2021
Indian finance ministry officials plan to pitch for a sovereign rating upgrade from Moody’s Investors Service in the meeting with Moody's scheduled for Sept. 28, according sources. Finance officials plan to provide details on how India will meet its budget targets for the current fiscal year, which runs through March. Moody’s cut India’s sovereign rating to Baa3 in June 2020, the lowest investment grade, citing policy challenges in addressing a prolonged economic slowdown and its deteriorating fiscal position Neither the finance ministry nor Moody’s responded to requests for comment S&P Global Ratings in May said it sees no change in India’s sovereign rating for the next two years. Read more

PM Modi arrived in US to attend Quad leaders' summit, address UNGA

Thursday, September 23, 2021
Prime Minister Narendra Modi arrived in Washington on Wednesday (22nd Sept.2021) on an official visit to the US. During the visit, he will hold the first face-to-face meeting with President Joe Biden and his deputy Kamala Harris, attend the maiden in-person Quad summit and address the 76th session of the UN General Assembly in New York. Modi, who is visiting the US for the 7th time after assuming office in 2014, said his visit would be an occasion to strengthen the Indo-US Comprehensive Global Strategic Partnership and consolidate ties with Japan and Australia. "Landed in Washington DC. Over the next two days, will be meeting @POTUS @JoeBiden and @VP @KamalaHarris, Prime Ministers @ScottMorrisonMP, and @sugawitter. Will attend the Quad meeting and would also interact with leading CEOs to highlight economic opportunities in India," Modi tweeted. Read more

Closing Bell:Sensex gains 958 points, Nifty at 17822.95

Thursday, September 23, 2021
At close, the Sensex was up 958.03 points or 1.63% at 59,885.36, and the Nifty was up 276.30 points or 1.57% at 17,823 on the back of positive global cues with the benchmark Sensex nearing the 60,000-mark. Bajaj Fin service, Larsen & Toubro (L&T), Housing Development Finance Corporation (HDFC), Axis Bank, IndusInd Bank, State Bank of India (SBI) were top Sensex gainers. On the contrary, only Dr. Reddy’s Laboratories, Nestle India, and ITC were the index laggards. About 1866 shares have advanced, 1305 shares declined, and 148 shares are unchanged. The realty index gained nearly 9 percent, while IT, metal, capital goods, oil & gas indices rose 1 percent each. Bank Nifty rallied 2.24 percent. BSE midcap and smallcap indices rose 1 percent each. India VIX gained less than a percent to end at 16.60 levels.

MARKET UPDATE:BSE up 351.37 points at 59,278.70 while Nifty 115.10 points higher at 17,661.80

Thursday, September 23, 2021
The Indian benchmark indices opened on a strong footing today (23rd Sept.2021) after the US Fed signaled that tapering could begin earlier than what market participants expect, but the committee remained equally split on interest rate lift-off. The Sensex was up 351.37 points at 59,278.70, and the Nifty was 115.10 points higher at 17,661.80. The top gainers on the 50-pack index included Coal India, Tata Motors, Axis Bank, and Tata Steel, while the only laggards were Tech Mahindra, Titan, and TCS. The broader indices, too, opened firm, rising around 1 percent each. Sectorally, all indices were trading positively, led by the Nifty Realty (up over 4 percent). Besides, the Nifty Bank, Media, and Metal indices also gained by 1 percent each.

ITC stock hits 21-month high as the Co regains Rs 3-trillion market cap

Wednesday, September 22, 2021
ITC's market capitalisation returned to Rs 3 trillion marks today(22nd Sept.2021) after its stock hit a 21-month high on the bourses. The stock hit an intra-day high of Rs 244.70, up 1 percent on the BSE today, and was trading at its highest level since December 2019. In the past week, ITC has outperformed the market by surging 13 percent on expectations of an improvement in the company’s businesses. In comparison, the S&P BSE Sensex was up 0.62 percent during the week. At 01:55 pm, ITC’s market cap stood at Rs 2.999 trillion on the BSE, exchange data shows. Read more

Zee Entertainment to merge with Sony Pictures Networks India

Wednesday, September 22, 2021
Zee Entertainment Enterprises (ZEEL) zoomed 39 percent to Rs 355.35 on the National Stock Exchange (NSE) in the intra-day trade on Wednesday after the company announced a merger with Sony Pictures India.ZEEL said on Wednesday that its board of directors has unanimously provided in-principle approval for the merger with Sony Pictures Networks India (SPNI). Zee, which has a presence in television broadcasting and digital media with brands such as Zee TV, has been under pressure from top investors for a management reshuffle, including the exit of Chief Executive, Punit Goenka, from the board. Sony Pictures Networks India (SPNI) and ZEEL have signed an exclusive, non-binding term sheet to combine the companies' linear networks, digital assets, production operations, and program libraries, the companies said on Wednesday.SPNI will also infuse $1.575 billion in the entity, ZEEL said in a filing. Read more

Markets have given a thumbs up to the Zee Sony merger news;stock may get re-rated

Wednesday, September 22, 2021
The news of Zee Entertainment - Sony Pictures India merger news has resulted in the stock of the Punit Goenka controlled firm hitting the upper circuit of 20 percent at Rs 306.75 on the BSE. This is also the 52-week high level for the counter. According to the analysts, the deal should put to rest investor's concerns regarding corporate governance issues and can result in significant re-rating for the stock going ahead. It currently trades at around 16/14x FY23/24 earnings. Among the other Essel Group stocks, Dish TV India surged 10 percent to Rs 21.54 on the BSE. Zee Media Corporation hit the upper circuit of 5 percent at Rs 12.36, while Zee Learn was up 20 percent to Rs 16.64 on the BSE in intraday trades. In comparison, the S&P BSE Sensex gained 0.27 percent at 59,162 points. Read more

Closing Bell: Sensex down 77.94, Nifty at 17546.65

Wednesday, September 22, 2021
At close, the Sensex was down 77.94 points or 0.13% at 58,927.33, and the Nifty was down 15.30 points or 0.09% at 17,546.70. Tech Mahindra was the top Sensex gainer, followed by Mahindra & Mahindra, HCL Technologies, and Bajaj Auto. On the other hand, HDFC was the worst-performing Sensex constituent, followed by Nestle India, ICICI Bank, and HUL. About 2047 shares have advanced, 1113 shares declined, and 162 shares are unchanged. Nifty Realty index was another top performer, notching 8.45 percent returns. All stocks from the realty pack also settled in the green amid a strong demand outlook, the Nifty Media pack surged 13.57 percent. Nifty Financial Services, Bank, Private Bank, and FMCG were the only losers. The BSE midcap and smallcap indices rose 1 percent each.

MARKET UPDATE:BSE Sensex traded 40 points lower at 58,964 levels while Nifty tested 17,550-mark, up 2 ponits

Wednesday, September 22, 2021
Indian equity markets were volatile in early trade today(22nd Sept.2021) as investors assessed the impact of the Evergrande crisis on India, and ahead of the US Federal Reserve's monetary policy outcome. The 30-share BSE Sensex traded 40 points lower at 58,964 levels while the NSE Nifty50 tested 17,550-mark, up 2 points. HCL Tech, BPCL, Hindalco, IndusInd Bank, and Tata Motors were the top gainers on the benchmark indices. In the broader market, the BSE MidCap and SmallCap indices added 0.91 percent and 0.80 percent, respectively. Globally, the Shanghai Composite fell 0.26 percent amid the ongoing Evergrande crisis. Elsewhere in Asia, the Nikkei 225 in Japan was down 0.5 percent and Australia's S&P/ASX 200 edged 0.83 percent higher.

As Evergrande concerns spark market rout World's richest 500 lose $135 billion

Tuesday, September 21, 2021
The richest 500 people lost a combined $135 billion on Monday (20th Sept. 2021) due to a global rout in stock markets sparked by concerns over the China Evergrande Group. Tesla Inc.’s Elon Musk led the declines as his world-leading net worth fell from $7.2 billion to $198 billion, according to the Bloomberg Billionaires Index. No. 2 Jeff Bezos, the founder of Seattle-based Amazon.com Inc., lost $5.6 billion, paring his fortune to $194.2 billion. A cash crunch at Evergrande, China’s most indebted developer, and a regulatory crackdown on the nation’s real estate market stoked fears about possible financial contagion. Markets also reacted to U.S. Treasury Secretary Janet Yellen’s warning of economic catastrophe if lawmakers fail to raise the debt ceiling. Read more

Adani to invest $20 bn in renewable energy in 10 years

Tuesday, September 21, 2021
Adani Group is the world's largest renewable power generating company by 2030, as his group will invest USD 20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centers with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 percent of capital expenditure until 2025 in green technologies, he said. Adani Group's "integrated value chain, our scale, and experience put us on the path to be the producer of the least expensive green electron anywhere in the world," he said. The announcement came weeks after India's richest man Mukesh Ambani announced an investment of Rs 75,000 crore (USD 10 billion) in clean power and hydrogen fuel over three years. Read more

Closing Bell: Sensex gains 514 points, Nifty at 17562.00

Tuesday, September 21, 2021
At close, the Sensex was up 514.34 points or 0.88% at 59,005.27, and the Nifty was up 165.10 points or 0.95% at 17,562, the benchmark indices stabilized in the afternoon trade, logging a smart rebound post two days of selling. Bajaj Finance was the top Sensex gainer, followed by IndusInd Bank, Tata Steel, ITC, Hindustan Unilever, Asian Paints, NTPC, Bajaj Finance, and Reliance Industries. Maruti Suzuki India was the worst performer, followed by Bajaj Auto, BPCL, Hero MotoCorp.Except for power and auto, all other sectoral indices ended in the green, with the reality, IT, and metal indices up 2-3 percent. BSE midcap index rose nearly 1 percent, while smallcap index was up 0.2 percent. India VIX was down with losses.

No need to lap up metal stocks yet, hint tech charts

Tuesday, September 21, 2021
On Monday(20th Sept.2021) metal shares witnessed their biggest meltdown in recent times as a debt crisis at one of China’s biggest property developers, Evergrande, led to a global decline in industrial metals and ore prices. The BSE Metal index tumbled nearly 7 percent in trade in the last session. Naturally, the question arises that Should you enter the stocks at current levels or wait for them to turn cheaper? Tech charts suggest the latter seems to be a better option. Read more

MARKET UPDATE:BSE Sensex rose 265 points to 58,710 while Nifty added 58 points to trade above 17,450 levels

Tuesday, September 21, 2021
The Indian benchmark indices today(21st Sept.2021) rose, defying the weak global market sentiment, tracking gains in IT majors and Reliance Industries. The BSE Sensex rose 265 points to 58,710 while the NSE Nifty added 58 points to trade above 17,450 levels. HCL Tech, Tech Mahindra, TCS, and Asian Paints were among the top gainers in the Sensex pack of stocks. On the other hand, Nestle, Maruti, and Ultratech Cement were the only losers. The broader indices traded in tandem with the benchmarks. The BSE Midcap index added 0.31 percent and the BSE Smallcap 0.25 percent.

Nifty Metal index slips over 4%, Tata steel was the top drap performance

Monday, September 20, 2021
Shares of metal companies came under heavy selling pressure on Monday with the Nifty Metal index slipping 4.5 percent on the National Stock Exchange (NSE) in the intra-day trade. The Nifty Metal index has tumbled by nearly 250 points so far today with an intraday low of 5,683.85. The performance comes after the country's copper imports recorded double-digit growth for the June 2021 quarter by a whopping 26% to 60,766 tonnes in the quarter ending June 2021 (Q1FY22) compared to 48,105 tonnes imports witnessed in the same quarter a year ago. A decline in copper price on the back of a stronger dollar further added to the sell-side in stocks globally. Tata Steel was the top drag performance in the index tumbling by 10% as some analysts give a sell target on the company's stock. Read more

US futures fall over 1% due to growth worries amid Covid

Monday, September 20, 2021
U.S. stock index futures fell 1% today (20th Sept.2021), as investors worried about rising COVID-19 cases and the pace of economic growth at the start of a week in which the Federal Reserve will decide on potentially tapering its massive pandemic-era stimulus. Futures tracking the blue-chip Dow index, which mainly comprises stocks reliant on a steady economic recovery, were down 1.5% by 04:31 a.m. ET. Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked. The benchmark S&P 500 is on track to snap a seven-month gaining streak. All eyes on Wednesday(22nd Sept.) will be on the Fed's policy meeting, where the central bank is expected to lay the groundwork for a tapering, although the consensus is for an actual announcement to be delayed until November or December meetings. Read more

Risk-reward ratio turning unfavourable at the current levels of Indian markets: Experts

Monday, September 20, 2021
Last week the Sensex almost touched 60,000, while the Nifty edged closer to 18,000. These levels would have been difficult to fathom when the Sensex dropped below 26,000 and the Nifty fell to 7,500-levels on March 23, 2020, at the peak of the Covid-19 sell-off. Market experts point out that such low levels were an aberration and one should not look at the gains made from these levels. But even from the valuation standpoint, stocks, across the board, are expensive. The bullish sentiment, especially towards Indian equities, stems from factors, such as the easy monetary stance of the US Fed and other central banks, the hope of strong revival in the economy and corporate earnings, strong domestic and retail flows, and reallocation of foreign flows due to the regulatory crackdown in China. Experts warn investors against going overboard as they see the risk-reward ratio turning unfavourable at the current levels.

Closing Bell: Sensex down 525 points, Nifty at 17396.90

Monday, September 20, 2021
At close, the Sensex was down 524.96 points or 0.89% at 58,490.93, and the Nifty was down 188.30 points or 1.07% at 17,396.90 for the second day spooked by a possible spillover of China's Evergrande's debt woes, fall in commodity prices and ahead of US Federal Reserve policy meet outcome. About 995 shares have advanced, 2308 shares declined, and 132 shares are unchanged. Hindustan Unilever was the top Sensex gainer followed by Bajaj Finserv and ITC. Tata Steel was the top loser, followed by the State Bank of India, IndusInd Bank, and HDFC. Barring the Nifty FMCG index all indices ended in red. Nifty Metal tumbled the most followed by the Nifty PSU Bank index, down 6.6 percent and 4.18 percent, respectively. Nifty Realty, Bank, Pharma also tanked nearly 2 percent each. The BSE Midcap index plunged 1.84 percent and the BSE Smallcap 1.8 percent. India VIX zoomed 14.85% during the day to close at 17.49.

Risk-reward ratio turning unfavourable at the current levels of Indian markets: Experts

Monday, September 20, 2021
Last week the Sensex almost touched 60,000, while the Nifty edged closer to 18,000. These levels would have been difficult to fathom when the Sensex dropped below 26,000 and the Nifty fell to 7,500-levels on March 23, 2020, at the peak of the Covid-19 sell-off. Market experts point out that such low levels were an aberration and one should not look at the gains made from these levels. But even from the valuation standpoint, stocks, across the board, are expensive. The bullish sentiment, especially towards Indian equities, stems from factors, such as the easy monetary stance of the US Fed and other central banks, the hope of strong revival in the economy and corporate earnings, strong domestic and retail flows, and reallocation of foreign flows due to the regulatory crackdown in China. Experts warn investors against going overboard as they see the risk-reward ratio turning unfavourable at the current levels.

MARKET UPDATE:BSE Sensex trading 140 points down at 58,870 level while Nifty reclaimed the 17,500 mark but down 45 points

Monday, September 20, 2021
Today's session (20th Sept.2021) was kicked off on a gap-down note and the benchmark indices recouped some losses amid buying in FMCG and IT shares. The BSE Sensex was trading 140 points down at 58,870 level while Nifty50 reclaimed the 17,500 marks but was down 45 points. Financials, private banks, and metal stocks were among the worst drags in the opening session. The broader markets, too, declined, underperforming benchmarks. Both the BSE Midcap and Smallcap indices dropped over 1 percent. In sectoral space, all indices, barring the Nifty FMCG pack, traded in the red. Nifty Metal tumbled the most, down 3 percent. Meanwhile, PSU Bank, Private Bank, Bank, and Auto indices too shed over 1 percent each.

Poonawalla Fincorp hits lower circuit after MD Abhay Bhutada steps down

Friday, September 17, 2021
Shares of Poonawalla Fincorp Ltd were locked in the lower circuit for the second straight day, down 5 per cent at Rs 163.55 on the BSE on Friday, after resignation of Abhay Bhutada, managing director (MD) of the company. Abhay Bhutada resigned with immediate effect from 16th September 2021 from the non-banking finance company (NBFC) a day after the Securities and Exchange Board of India (Sebi) barred him from dealing in securities for allegedly using price sensitive information in trading in the shares of Magma Fincorp before it was acquired by the Poonawalla Group.Seven people, apart from Bhutada, have been barred from trading and their bank accounts have been impounded to the tune of Rs 13.8 crore. In its 46-page interim order, Sebi noted that in February 2021 its surveillance system generated insider trading alerts related to Magma Fincorp’s shares. Sebi had also ordered impounding of the bank accounts of these eight entities. Read more

Government will select the winner in Air India’s disinvestment in about three weeks

Friday, September 17, 2021
The government will select the winner in Air India’s disinvestment in about three weeks and two high-level committees will finalise the reserve price for the national carrier within this period. The reserve price of the carrier will be soon decided by the inter-ministerial group (IMG) headed by the secretary, Department of Investment and Public Asset Management (DIPAM), based on the inputs from government-appointed valuers. The Core Group of Secretaries on Divestment (CGD), chaired by the cabinet secretary, will then consider the IMG’s recommendation. The Tata group and SpiceJet promoter Ajay Singh are in the race to acquire the loss-making airline. This process is being targeted to be completed in three weeks, said a top government official. The security clearance of the bidders who have shown an interest by placing financial bids is underway, he added. Read more

Sensex tanks 720 pts from day's high,Nifty PSB drops 3%

Friday, September 17, 2021
The benchmark indices tumbled from record-high levels to snap their three-day winning run in a volatile session on Dalal Street, amid losses in RIL, IT stocks, and select banking counters. Despite a firm global market sentiment, the Indian indices settled in the red as profit-taking ensued following a steep rally in the indices which saw them hitting significant landmarks. After touching a record high of 59,737, the BSE barometer Sensex plunged 721 points from the high to end at 59,016, down 125 points. At the same time, its NSE counterpart Nifty50 settled the day 44 points down at 17,585. The 50-pack index had touched a record peak of 17,793 in the morning session. However, on the weekly basis, the benchmark indices gained, thus taking their winning run to the fourth straight week. Read more

Closing Bell:Sensex down 125 points, Nifty at 17585.15

Friday, September 17, 2021
At Close, Sensex closed 125 points, or 0.21 percent, lower at 59,015.89 while the Nifty finished at 17,585.15, down 44 points, or 0.25 percent, from record-high levels to snap their three-day winning run amid losses in RIL, IT stocks, and select banking counters. ITC, Bajaj Finance, Tata Consultancy Services (TCS), Bharti Airtel, Housing Development Finance Corporation (HDFC), top Sensex gainers. Tata Steel Dr. Reddy’s Laboratories, Titan, TCS were the only losers on the index. Nifty Media & Realty shed 2.38 percent and 2.35 percent, respectively. On the other hand, Nifty Media, Nifty Financial Services, Nifty Bank, and Nifty Private Bank were the gainers. Nifty Auto settled the day unchanged. The BSE Midcap index sank 1.14 percent and the BSE Smallcap index was 1.06 percent.

MARKET UPDATE:BSE Sensex hit a new pinnacle of 59,551, up 400 points while NSE Nifty claimed 17,747, up 118 points

Friday, September 17, 2021
Today (17th Sept.2021) financial stocks, along with RIL, ITC, and Tata Steel, fired upon the bourses, lifting Indian benchmark indices to fresh all-time highs. The BSE Sensex index hit a new pinnacle of 59,551 in early deals, up 400 points, while the Nifty50 claimed 17,747, up 118 points. Bajaj Finance (up 2.7%), SBI, ITC, Bajaj Finserv, Bharti Airtel, Kotak Bank, Maruti Suzuki, and Titan were the top gainers on the 30-share pack. Sectorally, the Nifty PSU Bank index jumped 1%, followed by the Nifty Bank index (0.8%) and the Nifty Financial Services (0.7%). Shares of Vodafone Idea continued their upward movement and were up 10 percent at Rs 12.37 on the BSE in the intra-day trade today. The stock has zoomed 39 percent in the past two trading days after the government announced a relief package for the telecom sector.

RBI deputy governor sees FY22 inflation at 5.7% or lower

Thursday, September 16, 2021
The retail inflation fell to 5.3% in August and stayed within the Reserve Bank of India’s target range for two successive months. This could lead the RBI to revise the inflation projection for the current financial year. In the August review of monetary policy, RBI revised its inflation projection for the current financial year upward to 5.7% from 5.1% projected in the June policy review. Read more

Voda Idea gains 15 percent as govt grants relief

Thursday, September 16, 2021
Telecom sector Vodafone Idea were locked at the 25.70 per cent upper circuit at Rs 11.25 on the BSE in early trades on Thursday after the Union Cabinet on Wednesday announced key telecom reforms, including moratorium of telecom dues both adjusted gross revenue (AGR) and Spectrum for 4 years. Even as Vodafone Idea is under the ban for the second straight day by the NSE in the Futures & Options (F&O) markets, the stock has continued its upward trend in the cash markets. The current rally in the VI share price is a strong pull back, Nilesh Jain Assistant, Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking, said. According to analysts, the move translates into a relief in the company’s cash outflow by over Rs 65,000 crore. However, with VIL losing market share month-on-month, will it be able to use the improved cash flows to upgrade its network (from 2G to 4G) and get back on track. Read more

Closing Bell: Sensex up 418 points, Nifty at 17629.50

Thursday, September 16, 2021
At close, Sensex was 418 points, or 0.71 percent, up at 59,141.16 while Nifty was at 17,629.50, up 110 points or 0.63 percent. IndusInd Bank and ITC shares were top performers, gaining 7 percent each, followed by State Bank of India (SBI), Reliance Industries Ltd (RIL), Kotak Mahindra Bank, ICICI Bank, Axis Bank, Bajaj-Auto, HDFC Bank. On the flip side, TCS stock fell the most. Stocks such as Tech Mahindra, Tata Steel, Bharti Airtel, HCL Tech, Dr. Reddy’s Lab, Infosys, Titan Company were top Sensex losers. The Nifty PSU Bank index gained over 5 percent, Nifty Private Bank and Nifty Bank were among other top gainers, up 3 percent and 2 percent, respectively. The Nifty Media index fell 1.71 percent while Nifty Metal and IT indices fell 0.62 percent each. BSE Midcap index closed 0.48 percent higher at 25,336.56 while the smallcap index closed 0.08 percent up at 28,306.05.

ITC can rally up 30% to Rs 300 levels in the days ahead:Analysts

Thursday, September 16, 2021
On the BSE in intra-day trade today(16th Sept.2021) ITC hit a seven-month high of Rs 233.30, up 8 percent The move comes on the expectation of a likely improvement in the business outlook. The stock is trading at its highest level since February 2021. It had touched a 52-week high of Rs 239.15 on February 9, 2021. In past one year, the stock has underperformed the market by gaining 28 percent, as compared to 50 percent surged in the S&P BSE Sensex. In the past three years, ITC's share price dipped 25 percent, against a 55 percent rally in the benchmark index. However, technical charts suggest the counter can move up further in the days ahead. Read more

MARKET UPDATE:Profit taking pulls benchmarks off record highs;BSE Sensex down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 mark

Thursday, September 16, 2021
Indian benchmark indices After hitting fresh record highs in opening trade witnessed some profit-taking and turned flat. The BSE Sensex was down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 marks. It was trading flat at 17,520. Shares of FMCG major ITC witnessed a sharp rally and was the major index contributor. On the other hand, index heavyweights Infosys, TCS, HDFC Bank, and RIL were the top drags. Sectorally, the FMCG index gained the most, up 1.5 percent. The banking, auto, and realty sector were among other gainers.

Ami Organics surges 20% after strong listing

Wednesday, September 15, 2021
Shares of Ami Organics gained 20 percent and hit a fresh high of Rs 1,121 on the BSE in intra-day trade on Wednesday after the specialty chemicals company made a strong market debut on Tuesday, listing at a premium of 49 percent. With today’s rally, the stock has now gained a solid 84 percent against in just two trading sessions from its issue price of Rs 610 per share. The initial public offering of Ami Organics was subscribed 64.54 times. Analysts say that a strong listing coupled with extreme positive sentiment in small and midcap stocks has led to strong buying in Ami Organics. Ami Organics is focused on manufacturing advanced pharma intermediates (PI) for regulated/generic APIs and New Chemical Entities (NCE) and key starting materials for agrochemical and fine chemicals. The company has three manufacturing facilities situated in Gujarat with an aggregate installed capacity of 6060 Mtpa. Read more

Market rally would remain broad-based going ahead: Experts

Wednesday, September 15, 2021
Markets have been trading sideways ahead of the meetings of the two major global central banks – the US Federal Reserve and the Reserve Bank of India (RBI) – over the next couple of weeks. Market experts expect natural profit-taking to happen with rising markets, but do not see any meaningful correction unless there is a more aggressive taper stance by the US Fed. They are cautiously optimistic on markets for 2021, on surplus global liquidity, and benign interest rates. The US Federal Reserve (US Fed), prior to the pandemic, had an outstanding balance sheet size of $4.2 trillion as of December 2019, which doubled in size to $8.3 trillion. Likewise, the European Central Bank (ECB), which had a pre-pandemic balance sheet size of 4.7 trillion euros also saw a similar proportional increase in size to 8.2 trillion euros. This liquidity is providing support to asset inflation in high-risk asset classes, including emerging equities like India. Read more

Closing Bell: Sensex gains 476 points, Nifty at 17519.45

Wednesday, September 15, 2021
At Close, Sensex closed at 58,723.20, up 476 points, or 0.82 percent while Nifty closed the day at 17,519.45, up 139 points, or 0.80 percent, pushing the benchmark indices to their record close on Wednesday. NTPC was the top performer, gaining over 7 percent, followed by Bharti Airtel, HCL Tech, Titan, SBI, Power Grid Corporation of India, Tata Consultancy Services (TCS), IndusInd Bank, Infosys. On the flip side, Axis Bank, Asian Paints, UltraTech Cement, Nestle India, Sun Pharma, HDFC Bank were the top BSE Sensex losers. Nifty Media was down 1.55 percent, On the other hand, Nifty PSU Bank and Nifty IT were the top gainers, up nearly 3 percent and 2 percent, respectively. Bank Nifty index gained 0.65 percent. The midcap pack ended the day 0.65 percent higher while the smallcap index added 0.86 percent.

Govt finally answered the distress call from the telecom sector with major reforms

Wednesday, September 15, 2021
The Central Government has finally answered the distress call from the telecom sector with a set of reforms that address some of the major grievances of the sector. The contentious definition of the Adjusted Gross Revenue (AGR) has also been revamped with non-telecom revenue excluded from its purview. The telcos have contested the AGR definition and have been burdened with pending AGR dues. FDI reforms have also been announced and will boost investments in this capital-intensive sector. The move will help in bringing robustness to the sector and bring fresh investment to the sector. Read more

MARKET UPDATE:BSE Sensex rose 117 points at 58,360-level while NSE Nifty nearing the 17,450 mark,up 45 points

Wednesday, September 15, 2021
The Indian benchmark indices extended gains (today) after a beginning on a cautious note with the 50-pack Nifty nearing the 17,450 marks as it traded 45 points higher. Meanwhile, BSE Sensex rose 117 points at 58,360-level. Titan, NTPC, Airtel, and M&M were the top-performing stocks in the Sensex kitty of stocks, up between 1-3 percent. Axis Bank, TechM, HDFC Bank, and HCL Tech, on the other hand, were the worst laggards. The broader market outperformance showed no signs of abating. The BSE Midcap and Smallcap indices were up nearly 0.4 percent each. Sectorally, Nifty Private Bank, Nifty Bank, and Nifty Financial Services were the only losers. Media pack once again was the best performer, up 2 percent. Other top gainers included realty, FMCG, and auto. Read more

Zee Entertainment shares gains 40 percent on removal of directors from the board

Tuesday, September 14, 2021
Shares of Zee Entertainment zoomed in as much as 39.14% to Rs 260 apiece on Tuesday after top investors of the company have sought the removal of current Managing Director Punit Goenka and two independent directors Manish Chokhani and Ashok Kurien from the board. Invesco Developing Markets Fund and OFI Global China Fund LLC, which together hold 17.88 percent of the total paid-up share capital of the company, have demanded the removal of CEO Punit Goenka and have also sought the appointment of six independent directors. Invesco Developing Markets Fund and OFI Global China Fund LLC’s move to call an extraordinary general meeting seeking the removal of Goenka was a positive development for corporate governance, experts said. Chokhani and Kurien have submitted their resignations with immediate effect before the extraordinary general meeting (EGM). Read more

FM Nirmala Sitharaman to look into bottlenecks that push IT companies to register outside India

Tuesday, September 14, 2021
Union Finance Minister Nirmala Sitharaman, Yesterday (13th Sept. 2021) said that she would look into bottlenecks that push SaaS companies to register outside India. Sitharaman interacted with industry representatives from CII and FICCI, where she heard requests and took feedback from various sectors. Entrepreneurs from Tamil Nadu, a hub for the SaaS sector, urged the Finance Minister to look into issues that may hinder IT products which are set to lead to value creation, a report said. The founder of Kissflow, Suresh Sambandam, said that with a $1-trillion opportunity, the SaaS sector can play a key role in the government’s ambitions of reaching a $5-trillion economy. India, however, is losing out on wealth creation as entrepreneurs prefer to register the companies outside India due to various bottlenecks. Read more

Closing Bell: Sensex gains 69 points, Nifty at 17380.00

Tuesday, September 14, 2021
At Close, Sensex closed 69 points, or 0.12 percent, up at 58,247.09 while the Nifty finished with a gain of 25 points, or 0.14 percent, at 17,380, rising for the second time in the last three sessions.IndusInd bank was the top index performer, rising over 4 percent. It was followed by HCL Technologies, Bajaj-Auto, Larsen & Toubro (L&T), Kotak Mahindra Bank, Tech Mahindra, among others. On the flip side, Nestle India, UltraTech Cement, Hindustan Unilever Ltd (HUL), Housing Development Finance Corporation (HDFC), Tata Steel, Bajaj Finserv, Infosys were among the top BSE Sensex draggers. BSE Midcap index rallying 1.09 percent and the BSE Smallcap index 0.63 percent. Nifty Media index emerged to be the best performing sector on NSE today, with a gain of over 14 percent. Nifty Private Bank, IT, and Auto were among the top sectoral performers. Bank Nifty gained 0.39 percent, Nifty Auto 0.88 percent, Nifty Private Bank 1.03 percent. Nifty Metal declined the most, down 0.5 percent. Read more

Gaurav Gupta, Co-founder and head of supply of Zomato,quits

Tuesday, September 14, 2021
Gaurav Gupta, a co-founder, and head of supply of Zomato has quit the company. It may be recalled that Zomato made a public offering in July. "I am taking a new turn in my life and will be starting a new chapter, taking a lot from this defining chapter of my life – the last 6 years at Zomato. We have a great team now to take Zomato forward and it’s time for me to take an alternate path in my journey. I am very emotional as I write this and don’t think any words can do justice to how I am feeling right now," Gupta said in a company-wide email he sent earlier today. In response to the communique, Goyal responded with: "Thank you GG for everything you have helped Zomato achieve over the last few years. We have seen Zomato through great as well as terrible times together and brought it here today. There’s so much of our journey still ahead of us, and I am thankful that you are hanging your boots at a point where we have a great team and leadership to carry us forward." Read more

MARKET UPDATE:Sensex was up 192 points at 58,370 while NSE Nifty up 50 points at 17,400

Tuesday, September 14, 2021
The Indian benchmark indices today (14th Sept.2021) opened for trade on a firm note amid strong cues from global markets and hopes of continuity in easy RBI money policy following the latest inflation print. The BSE Sensex was up 192 points at 58,370 in the opening session while Nifty was up 50 points at 17,400. Sectorally, all indices gained with Nifty Media leading, up over 4.5 percent. The realty, financial, and pharma sectors also gained traction. The broader markets outperformed as both BSE Midcap and Smallcap indices added over 0.6 percent each. Read more

Reliance slips 2 percent over delay in launch of JioPhone Next

Monday, September 13, 2021
Shares of Reliance Industries (RIL) slipped 2 per cent at Rs 2,382.85 on the BSE in the intra-day trade on Monday after the company's telecom arm Reliance Jio delayed the launch of its affordable smartphone, JioPhone Next, which was scheduled to take place on Ganesh Chaturthi, 10 September 2021. which was developed in partnership with Google, owing to the ongoing semiconductor shortage globally.Reliance Industries last week in its filing to exchanges informed that Jio Platforms Limited, a subsidiary of the company, said “JioPhone Next in advanced trials, with festive-season rollout to commence before Diwali”. Reliance Industries Ltd stock has hit a day’s high of Rs 2,430 apiece. Analysts say that post a strong rally in RIL stock, there is a small profit booking. Despite today’s decline, the stock has outperformed the market by surging 11 per cent in the past one month, Read more

IT stocks which can soar 15% despite being in the 'overbought' zone

Monday, September 13, 2021
The Nifty IT index was ruling nearly a percent higher today(13th Sept.2021), bucking the overall weak trend in the markets. shares of Mindtree were up 3 percent while Mphasis, Coforge, Wipro, and TCS (Tata Consultancy Services) gained between 0.7 percent and 2.2 percent. According to some analysts, the sector will continue to see re-rating in the near to medium term. "We believe current valuations will sustain driven by liquidity + TINA (there is no alternative) + FOMO (fear of missing out) factors. Also, with pricing power returning, the IT-services sector is closing in on FMCG fundamentals. Lastly, mid-caps will continue to trade at a premium to large-caps in the near to medium term, driven by a never-before outperformance in revenue growth relative to large-caps for at least the next two years," they said. Read more

Analysts see 19% upside in HUL (FMCG) stock on strong outlook, product mix

Monday, September 13, 2021
After clocking a big rally, Hindustan Unilever shares may take a breather before hitting fresh record highs, according to some analysts. They are expecting up to 19 percent upside from current market levels, deriving comfort from the company’s long-term growth strategies, along with an increase in prices to protect margins. "The management, during its Annual Investor Meet, appeared upbeat on the medium-term growth outlook and maintained double-digit EPS growth. The commentary emphasized significant leverage on data analytics and technology across functions, which will be a competitive advantage, going ahead," said a report by Emkay Global Financial Services dated September 12. It, however, added that post the recent run-up, there is limited upside potential in the stock. Read more

Closing Bell: Sensex down 127 points, Nifty at 17355.30

Monday, September 13, 2021
At Close, Sensex closed 127 points, or 0.22 percent, lower at 58,177.76 while the Nifty ended the day at 17,355.30, down 14 points, or 0.08 percent. Reliance Industries Ltd (RIL), ICICI Bank, Hindustan Unilever Ltd (HUL), HDFC Bank, Mahindra & Mahindra (M&M), UltraTech Cement, Axis Bank were among top index draggers. On the flip side, Tata Consultancy Services (TCS), Bharti Airtel, Bajaj Finserv, Tata Steel, Maruti Suzuki, Kotak Mahindra Bank, HCL Tech were top BSE Sensex leaders.The BSE MidCap and SmallCap indices closed 0.3 per cent and 0.8 per cent higher, respectively, Nifty Metal gained 2 per cent while Bank Nifty fell 0.58 per cent, to end at 36,472. Healthy buying in the broader market kept overall market breadth in the favour of the buyers.

MARKET UPDATE:BSE Sensex quoted at 58,120.5 levels, down 189.5 points while NSE Nifty at 17,320,down 50 points

Monday, September 13, 2021
Indian markets started on a tepid note today(13th September 2021), following a wobbly trade in the global markets. The S&P BSE Sensex quoted at 58,120.5 levels, down 189.5 points or 0.3 percent in early deals while the broader Nifty50 slipped below the 17,350-mark at 17,320, down 50 points. Individually, Reliance Industries slipped 1 percent after the company postponed the launch of JioPhone Next till Diwali amid chip shortage. That apart, ICICI Bank, HCL Tech, Infosys, Nestle India were the other top losers. In the broader market, the BSE MidCap and SmallCap indices traded mixed. Read more

Indian Economic recovery to continue even in event of third wave: FinMin

Thursday, September 9, 2021
Today (9th September 2021) the Finance Ministry said that economic recovery, which was impacted during the second wave, will see faster revival in the next three quarters of the current financial year, even if the third wave hits the country. It is said that this confidence is mainly due to a rapid surge in the inoculation drive and a rebound in leading macroeconomic indicators. “Rapidly increasing vaccination coverage and richer experience with pandemic management provide the confidence that the recovery can continue even in the event of a third wave,” the finance ministry’s Department of Economic Affairs said in its monthly review for August. Read more

Closing Bell: Sensex gains 55 points, Nifty at 17369.25

Thursday, September 9, 2021
At Close, Sensex closed 55 points, or 0.09 percent, higher at 58,305.07 while Nifty settled with a gain of 16 points, or 0.09 percent, at 17,369.25 with a positive bias on September 9. Bharti Airtel was the top Sensex gainer, followed by Nestle India, Tata Steel, and Bajaj Finserv. Titan was the worst Sensex performer on Thursday, followed by Ultratech Cement, Bajaj Auto, Axis Bank, and HDFC Bank.BSE Midcap ended up 0.56 percent and the BSE smallcap 0.52 percent. Both indices also hit their respective all-time highs in today's session. Nifty Realty followed by Financial Services, Pharma and Bank were the top losers. On the other hand, Nifty Media, with a gain of 2.97 percent was the best performing index.

FRL-RIL deal: SC asks NCLT, CCI, Sebi not to pass final orders for 4 weeks

Thursday, September 9, 2021
Today (9th Sept.2021) The Supreme Court of India stayed all the proceedings before the Delhi High Court for four weeks related to the implementation of an award by Singapore's Emergency Arbitrator (EA) restraining Future Retail Ltd (FRL) from going ahead its Rs 24,731 crore merger deal with Reliance Retail. A bench headed by Chief Justice N V Ramana, in a consent order, also directed the statutory authorities like National Company Law Tribunal (NCLT), Competition Commission of India (CCI), and market regulator Sebi not to pass any final order related to the merger deal for next four weeks. It considered the statements of senior advocates Harish Salve and Mukul Rohatgi, appearing for FRL and Future Coupons Private Ltd (FCPL) respectively, that the arbitrator has reserved the final verdict in the case after hearing both sides. Read more

TCS partners with Avianca

Thursday, September 9, 2021
Tata Consultancy Services' share price gained 1 percent on September 9 after Avianca, one of the leading airlines in South America, partnered with the IT firm to accelerate its journey to the cloud.TCS will modernize Avianca's IT infrastructure and build a new cloud-based digital core on Microsoft Azure. "Leveraging its deep domain knowledge of the airline industry and it will utilize its proprietary automation tools and accelerators to drive this transformation programs, TCS will help the airline migrate 129 core applications to the cloud and will also manage the new cloud estate," it said. Some of these tools are TCS Cloud Counsel, a digitized cloud candidature assessment toolset, and TCS Cloud Mason, which helps organizations rapidly define, design, and deploy cloud foundational platforms. The new digital core will provide an integrated environment that will enhance Avianca's business agility, operational resilience, adaptability, and future readiness. Read more

MARKET UPDATE:BSE Sensex was down 36 points at 58,172 while NSE Nifty shed 18 points to trade at 17,333

Thursday, September 9, 2021
The Indian benchmark indices continued to consolidate for the third day in a row as they opened marginally in the red. Profit-taking at all-time high levels and tepid global cues kept the market mood subdued. BSE Sensex was down 36 points at 58,172 while NSE Nifty shed 18 points to trade at 17,333. Axis Bank, Infosys, M&M, and Sun Pharma were the top Sensex losers while Kotak Bank, Bajaj Finserc, and Airtel were the best gainers. In the broader markets, the BSE Midcap index was unchanged while BSE Smallcap rose 0.2 percent. Sectorally, IT names continued to be under pressure while banking and financial names gained traction.

Closing Bell: Sensex down 29 points, Nifty at 17353.50

Wednesday, September 8, 2021
At Close, Sensex closed 29 points, or 0.05 percent, down at 58,250.26 while the Nifty settled 9 points, or 0.05 percent, lower at 17,353.50, amid losses in IT firms and index heavyweight Reliance Industries, even as gains in private lenders helped cap losses. Kotak Mahindra Bank was the top index gainer, followed by NTPC, Titan, and Sun Pharma. Nestle India was the worst performer followed by Maruti, Bajaj Finserv, and Bajaj Auto. Nifty Bank, private bank, PSU bank, and financial services indices rose about a percent each. On the flip side, Nifty IT, down 0.78 percent, Nifty Media and Auto lost over 0.50 percent each, Nifty pharma indices ended in the red. The BSE Midcap index added 0.81 percent. It also touched a new high in trade today. Meanwhile, BSE Smallcap rose 0.55 percent.

Cabinet approves Rs 10,683-cr PLI scheme for textiles

Wednesday, September 8, 2021
The cabinet today(8th September 2021) approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for the textiles sector with an aim to boost domestic manufacturing and exports. The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi here. The PLI scheme is for MMF (man-made fibre) apparel, MMF fabrics and ten segments/products of technical textiles with a budgetary outlay of Rs 10,683 crore. This scheme is part of the overall announcement of the scheme for 13 sectors made earlier during the Union Budget 2021-22, with an outlay of Rs 1.97 lakh crore. Incentives worth Rs 10,683 crore will be provided over 5 years, said Union Minister Anurag Thakur. The government expects investments of more than Rs 19,000 crore into the sector during the five-year period. Read more

MARKET UPDATE:Sensex, Nifty volatile;BSE Sensex quoted at 58,212 level, down 67 points and Nifty dipped 14 points at 17,344 levels

Wednesday, September 8, 2021
BSE Sensex traded lower today(8th September 2021) dragged by Infosys, Maruti Suzuki, Bajaj Auto, Sun Pharma, and TCS. The index quoted at 58,212 level, down 67 points or 0.12 percent in early deals.It's NSE counterpart Nifty50, meanwhile, dipped 14 points at 17,344 levels. In the broader markets, the BSE MidCap and SmallCap indices were flat. On the global front, Japan's Nikkei gained 0.8 percent. On the flip side, South Korea's Kospi, Australia's ASX200, and Hong Kong's Hang Seng slipped up to 0.7 percent. Shares of telecom services provider caught investor fancy today with Bharti Airtel hitting a new high at Rs 684, up 2 percent, while Vodafone Idea jumped 7 percent to Rs 8.90 on the BSE in the intra-day trade, ahead of the Cabinet meeting scheduled later in the day. According to reports, the government may discuss a relief package for the stressed sector.

Vodafone Idea is Hopeful of govt support: Vi chairperson

Tuesday, September 7, 2021
Vodafone Idea (V I) is hopeful of government support in generating reasonable returns on its investment and addressing the challenges plaguing the telecom sector, the company’s chairperson Himanshu Kapania said in a letter to shareholders. Kapania took over from Kumar Mangalam Birla on August 4, days after the Supreme Court rejected its application for a correction in the calculation of adjusted gross revenue dues. The telecom company’s operational performance has been impacted by intense competition, low tariffs, and a debt of Rs 1.9 trillion leaving it with a little surplus for network upgrade. The company has sought an additional one-year moratorium on spectrum dues and is pitching for a decision on floor price for telecom. Read more

Sensex snaps 3-day winning run, lost only 17 points to end at 58,280 and Nifty closed at 17,356, down 21 points

Tuesday, September 7, 2021
A volatile trade was witnessed on Dalal street (today(7th September 2021) as bulls and bears were caught in a fierce battle. Investors looked to lock in gains after a recent rally and a subdued global market mood but most dips were bought into, which left indices unchanged at close. The BSE Sensex lost only 17 points to end at 58,280. Meanwhile, NSE Nifty closed at 17,356, down 21 points. Both indices snapped their three-day winning streaks but did manage to hit new highs in intra-day deals (Sensex at 58,553 and Nifty at 17,437). In the 30-pack Sensex, 12 stocks ended in the green and 18 in the red. Bharti Airtel, HDFC, IndusInd Bank, and ITC, up between 1-3 percent, were the top gainers. Tech Mahindra, Sun Pharma, Axis Bank, and HCL Tech on the other hand were the worst losers. Read more

MARKET UPDATE:Volatile markets;BSE Sensex rose 112 points at 58,409 levels and Nifty at 17,420, up 42 points

Tuesday, September 7, 2021
Benchmark indices in India traded with tepid gains today(7th September 2021) amid muted global cues, supported by no negative domestic triggers. The BSE barometer of 30 shares rose 112 points, or 0.2 percent, at 58,409 levels in early deals while the NSE's Nifty50 held above the 17,400-mark at 17,420, up 42 points. Asian Paints, Tata Consumer Products, HUL, ITC, and Britannia lifted the benchmarks, rising up to 1 percent. On the downside, Wipro, BPCL, Coal India, and Sun Pharma capped gains. In the broader markets, the BSE MidCap and SmallCap indices gained 0.3 percent and 0.2 percent, respectively.

IRCTC zooms 97% from April low and now among 100 most valuable firms on BSE

Monday, September 6, 2021
Indian Railway Catering and Tourism Corporation (IRCTC) entered the top 100 most valuable listed companies' club after its stock hit a new high of Rs 3,041.20, up 6 percent on the BSE in intra-day trade today(6th Sept.2021). The stock has rallied 97 percent from its low of Rs 1,541 touched on April 19, 2021. With Rs 48,213 crore market capitalisation (market cap) as of 11:44 am, IRCTC stood at 95th position in the overall market cap ranking on the BSE, the exchange data shows. The state-owned company surpassed Colgate-Palmolive (India), Cholamandalam Investment and Finance Company, Hindustan Aeronautics (HAL), Balkrishna Industries, ACC, and Bandhan Bank in the market cap ranking today. Read more

A unexpected bond rally sweeps over India

Monday, September 6, 2021
A rally in India’s sovereign bonds, fueled by mutual funds and overseas investors has left most Mumbai traders baffled at their sudden fortune. Yields dropped across the curve last week, with those on the benchmark 10-year bond declining ten basis points, the biggest weekly drop since April. Government debt auctions are finding buyers again, after a spate of earlier sales were canceled or rescued by underwriters. A rally in India’s sovereign bonds, fueled by mutual funds and overseas investors after weeks of indifference, has left most Mumbai traders baffled at their sudden fortune. Mutual funds turned net buyers with purchases of 151 billion rupees ($2.1 billion) of debt over the last 10 trading days. Read more

MARKET UPDATE:Bull run extended;Indices at fresh peaks;BSE Sensex clocked 58,480 and Nifty hit a new lifetime high of 17,421

Monday, September 6, 2021
Indian benchmark indices extended their bull-run and hit new peaks today(6th Sept.2021). The NSE Nifty50 surpassed the 17,400-mark and touched a new lifetime high of 17,421 while the S&P BSE Sensex clocked 58,480. Reliance Industries, up 2.7 percent, was the top-performing stock on the 30-share pack. It hit a new peak of Rs 2,454 apiece on the BSE. HUL, L&T, and M&M were the other gainers on the Sensex index. On the flipside, Tata Steel, Power Grid, Nestle India, and Tech M declined. In the broader markets, the BSE MidCap index hit a new record high of 24,562.5. The SmallCap index, meanwhile, claimed a new high of 27,502.

L&T Technology surges 9% on strong earnings projections

Friday, September 3, 2021
Shares of L&T Technology Services (LTTS) hit a new high of Rs 4,412.80, surging 9 percent on the BSE in the intra-day trade today(3rd Sept. 2021), after the management guided for $1.5 billion revenue and 18 percent earnings before interest tax (Ebit) margins by FY25 on the strong demand outlook. In the past three months, the stock has rallied 62 percent, as compared to an 11 percent rise in the S&P BSE Sensex. The revenue guidance includes acquisitions while Ebit margin guidance takes into consideration elevated travel costs, continued investment in tech and manpower, and acquisitions. The management has indicated that digitization is driving accelerated spends in engineering, research, and development (ER&D) and should benefit it due to strong capabilities, multi-vertical presence, and solid wallet share. LTTS is expected to deliver strong revenue growth over the coming years.

HDFC Life to acquire Exide Life Insurance

Friday, September 3, 2021
The HDFC Life today(3rd Sept.2021) said it will acquire a 100 percent stake in Exide Life Insurance Company for Rs 6,887 crore from Exide Industries Ltd (EIL) and subsequently, it will be merged with HDFC Life, subject to regulatory approvals. This marks one of the first and the largest acquisitions in the life insurance space, which has 23 private players and one state-owned insurer - Life Insurance Corporation (LIC). Previously, HDFC Life had intended to acquire Max Life but the deal did not go through because of regulatory hurdles. Experts said this deal will, however, is not expected to face any such regulatory hurdles. Read more

Govt plans to bring a bill, Cryptos to be treated as commodity

Friday, September 3, 2021
The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases, according to some sources. Cryptocurrencies will be treated as an asset/commodity for all purposes, including taxation and as per user case — payments, investment, or utility. People in the know said only the cryptocurrencies that are covered under the government’s definition will be allowed to be traded in India. These crypto assets will then be taxed accordingly, said people aware of the development. Read more

MARKET UPDATE:BSE Sensex valued past the 58,000 for the first time and Nifty hit a new peak of 17,300

Friday, September 3, 2021
The Indian benchmark indices, led by a positive global market setup, hit new record highs at opening tick today(3rd September 2021). The BSE Sensex valued past the 58,000 marks for the first time. It rose 200 points to 58,081. Meanwhile, NSE Nifty also hit a new peak of 17,300, up 55 points. Kotak Bank, Titan, RIL, and IndusInd Bank were the top gainers in the 30-pack index while HCL Tech, TCS, Nestle India, and Maruti were the top losers. Broader market indices rose in tandem with the benchmark. BSE Midcap and Smallcap were up between 0.4-0.5 percent. Globally, the S&P 500 and Nasdaq eked out record finishes on Thursday, while the Dow also posted a modest gain after data showed the number of Americans filing new claims for jobless benefits fell to the lowest since March 2020. The Dow Jones Industrial Average rose 0.37 percent, the S&P 500 gained 0.28 percent, and the Nasdaq Composite added 0.14 percent. Read more

Apple hit with antitrust case in India over in-app payments issues

Thursday, September 2, 2021
Apple Inc is facing an antitrust challenge in India for allegedly abusing its dominant position in the apps market by forcing developers to use its proprietary in-app purchase system. The allegations are similar to a case Apple faces in the European Union, where regulators last year started an investigation into Apple's imposition of an in-app fee of 30% for the distribution of paid digital content and other restrictions. The case was filed by a little-known, non-profit group that argues Apple's fee of up to 30% hurts competition by raising costs for app developers and customers, while also acting as a barrier to market entry. "The existence of the 30% commission means that some app developers will never make it to the market. This could also result in consumer harm," said the filing, which has been seen by Reuters. Read more

India's market capitalisation to GDP ratio hits 13-year high

Thursday, September 2, 2021
The listed companies in India are worth 122 percent of India’s latest annualised gross domestic product (GDP) — the highest since December 2008, when it had hit an all-time high of around 150 percent. The ratio was 112 percent at the end of June and 103 percent at the end of March. India’s current market capitalisation (m-cap) to GDP ratio is nearly 55 percent higher than the 15-year median ratio of 79 percent. The combined m-cap of nearly 3,500 companies listed and actively traded on the BSE reached a new high of Rs 250 trillion on Tuesday and is up 120 percent since the end of March 2020, and 33 percent since the beginning of the current calendar year. This has created a wedge between stock valuations and India’s macroeconomic fundamentals. Read more

MARKET UPDATE:volatile market;BSE Sensex trading 85 points up at 57,500 levels and Nifty recliaimed 17,100 mark, up 50 points

Thursday, September 2, 2021
The Indian benchmark indices witnessed volatility in opening trade amid a mixed global market setup and ahead of weekly F&O expiry. Indices gyrated between gains and losses. Eventually, Sensex managed to hold gains and was trading 85 points up at 57,500 levels while Nifty reclaimed 17,100 marks, up 50 points. DRL, Titan, and Ultratech were the top gainers in the Sensex pack and HCL Tech, Asian Paints and Power Grid were the worst laggards. In the broader markets, BSE Midcap and BSE Smallcap were up 0.3 percent each. Shares in Asia-Pacific were in the red with Japan's Nikkei down 0.1 percent and Topix index down 0.3 percent. South Korea's Kospi dipped 0.65 percent, and the S&P/ASX 200 in Australia shed 1 percent. However, overnight, the S&P 500 closed marginally higher, up 0.031 percent, while the Nasdaq Composite climbed 0.33 percent. The Dow Jones Industrial Average lagged as it declined 0.14 percent.

Shoppers Stop sells Crossword stores for Rs 41.6 cr

Wednesday, September 1, 2021
Shares of Shoppers Stop surged 5.6 percent to Rs 254.5 apiece on the BSE in the intra-day trade on Wednesday after the company sold its wholly-owned subsidiary Crossword Bookstores to the owners of Agarwal Business House (ABH) for approximately ₹41.6 crores, as it seeks to focus on its core business, the company said on Tuesday.“Shoppers Stop has closed the sale of a controlling stake of its 100 percent subsidiary, Crossword Bookstores Limited to M/s. Dinesh Gupta, Aakash Gupta and Family (Owners of Agarwal Business House), Pune, pursuant to the share purchase agreement between Shoppers Stop and ABH signed on August 31, 2021,” the company said. Shoppers Stop expects to complete the divestment of a 51% stake within 15 days, and another 39% over the next 12 months, it added. Read more

Closing Bell: Sensex down 214 points, Nifty at 17076.25

Wednesday, September 1, 2021
At close, the Sensex was down 214.18 points or 0.37% at 57338.21, and the Nifty was down 55.90 points or 0.33% at 17076.3 as profit booking in metal and IT stocks. Asian Paints, Nestle India, Axis Bank, Titan Company, Dr.Reddy’s Laboratories, L7T, Bajaj-Auto, and IndusInd Bank were among the top BSE Sensex gainers. On the flip side, M&M, Tata Steel, Bajaj Finserv, Tata Consultancy Services (TCS), Housing Development Finance Corporation (HDFC), Infosys, HCL tech, UltraTech Cement were the top index laggards. About 1461 shares have advanced, 1637 shares declined, and 150 shares are unchanged. The BSE MidCap index added 0.9 percent on the BSE and the BSE SmallCap index rose 0.22 percent. Nifty sectoral indices mostly ended in the green, except for Nifty Financial Services, Nifty IT, Nifty Metal, and Nifty Pharma indices. metals and IT indices fell over 1 percent each. Bank Nifty gained 0,4 percent to settle at 36,574.30

Red-hot property stocks set for next leg of rally

Wednesday, September 1, 2021
Recent weakness in India’s red-hot property stocks looks short-lived as record low-interest rates and an economic recovery from the pandemic fuel demand from an increasingly affluent middle class. That’s the view of analysts, who see large listed firms emerging as the biggest beneficiaries amid ongoing consolidation in the $200 billion sectors. India’s property market is rebounding after being in a down cycle for the last six years as a series of headwinds ranging from the pandemic, a bad-loan crisis, and a surprise 2016 cash ban hurt demand for new houses and apartments. Stronger sales and weak launches are leading to faster absorption of outstanding inventory and this favorable demand-supply situation has started to build a case for price increases, according to experts.

Use dips to add auto stocks despite chip shortage concerns

Wednesday, September 1, 2021
The shortage of semiconductors and chips has hit the Indian automobile sector hard and after Tata Motors, Maruti Suzuki India has slashed output target for September due to a chip shortage. Yesterday (31st August 2021) Maruti Suzuki said that its vehicle production in September will tumble by 60 percent. The company, which had earlier cut down production at its Gujarat plant, said the chip shortage will hit production in Gurugram and Manesar plants, effectively forcing the automaker to cut production by 60 percent. Consequently, shares of the automaker declined 2 percent to Rs 6,700 on the BSE. The ripple effect dented other shares as well with stocks of M&M, Ashok Leyland, and TVS Motors slipping up to 1 percent. Read more

MARKET UPDATE:BSE Sensex traded at 57,679 level, up 126 points and Nifty at 17,176, up 44 points

Wednesday, September 1, 2021
Indian benchmark indices came off highs but were trading in the green today(1st September 201) amid gains in realty, energy, FMCG, and auto stocks. The frontline S&P BSE Sensex traded at 57,679 level, up 126 points on the BSE while the broader Nifty50 was at 17,176, up 44 points. Earlier today, the indices hit new lifetime highs of 57,765.92 and 17,185.60, respectively. Axis Bank (up 3 percent), L&T, Bajaj Auto, Asian Paints, and Nestle India were the top gainers on the BSE barometer. On the contrary, HDFC (down 1 percent), Bharti Airtel, Tata Steel, and Maruti Suzuki were the top laggards. Meanwhile, in the broader market, the BSE MidCap and SmallCap indices advanced 0.7 percent each.

Kotak Bank to sell 20 cr shares of Airtel Payments to Bharti Enterprises

Tuesday, August 31, 2021
Kotak Mahindra Bank on Tuesday said that it will sell 20 crore shares held in Airtel Payments Bank (APBL) for a cash consideration of Rs 294 crore or more to Bharti Enterprises Ltd.A share purchase agreement has been executed by the bank for divestment of 20,00,00,000 equity shares (8.57 per cent stake) held by Kotak Mahindra Bank Ltd in APBL. These shares were acquired for Rs 200 crore invested in tranches during calendar years 2016 and 2017, the bank said in a regulatory filing.The sale is expected to be completed by September 15 or before, for "cash consideration equal to or higher than ₹294.8 crore; to be determined in accordance with the terms of the share purchase agreement," it added. The bank said it does not require any governmental or regulatory approvals for the proposed transaction. Bharti Enterprises has received no objection from the RBI to enable execution of the proposed transaction, it said. This transaction does not constitute a related party transaction. Read more

Closing bell: Sensex gains 663 points, Nifty at 17132.20

Tuesday, August 31, 2021
At close, the Sensex was up 662.63 points or 1.16% at 57,552.39, and the Nifty was up 201.20 points or 1.19% at 17,132.20. Bharti Airtel, Axis Bank, Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, State Bank of India (SBI), Asian Paints, and RIL, among others, were the top index gainers. On the flip side, Nestle India, Tech Mahindra, Infosys, and Tata Consultancy Services (TCS) were Sensex laggards. About 1434 shares have advanced, 1537 shares declined, and 105 shares are unchanged. All the sectoral indices ended in the green, with IT, power, healthcare, metal, oil & gas indices up 1 percent each, Nifty Bank index surged over 2 percent to settle at 36,348. The BSE MidCap and SmallCap indices advanced 0.8 percent each.

The economic toll from second wave of Covid-19 in last quarter is not as bad as feared

Tuesday, August 31, 2021
The economic toll from a deadly second wave of Covid-19 that swept through India last quarter doesn’t appear to be as bad as feared, with analysts still seeing the nation pulling off the world’s fastest growth this year. A better-than-expected manufacturing performance and a milder hit to services, combined with a robust pace of vaccinations, have helped keep the annual growth outlook for the economy steady at 9.2%, according to a survey. That pace is the same seen in a poll last month and the quickest among major economies. “The economic damage appears to be less than previously expected,” said an expert.“With the second outbreak brought under control, a rapid recovery appears underway,” he said. Gross domestic product(GDP) grew 21% in the three months through June from a year ago, according to the median of 45 estimates compiled by Bloomberg, mainly as a bounce back from last year’s crash.

Nifty Bank at 5-month high; may lead next leg of the market rally

Tuesday, August 31, 2021
In the past few months, the Nifty Bank Index has consistently struggled to rise above the 36,000 marks. A move above the 36,497 levels, which is the five-month high for the index, can take it up further. The daily and weekly charts suggest that a breakout above the above-mentioned level can see the index hit the 37,000 marks and then record a new all-time high by crossing 37,708 levels. As long as the support of 35,750 is defended on a closing basis, the upside sentiment is likely to see more interest of market participants in bank stocks. One can easily expect a 10 -15 percent jump in the index within a short time. A quick analysis of the constituents of the index suggests that there is more headroom among most stocks. Among the lot, Punjab National Bank (PNB), Federal Bank, and IDFC First Bank can move up over 20 percent each from the current levels, the charts suggest. Read more

MARKET UPDATE:BSE Sensex claimed new all-time high of 57,125 and Nifty touched 16,996

Tuesday, August 31, 2021
Indian markets hit fresh record peaks today(31st August 2021) even as concerns over the crackdown of private industries in China capped rally elsewhere in Asia. The benchmark S&P BSE Sensex claimed a new all-time high of 57,125 while the Nifty50 touched 16,996. The indices, however, succumbed to profit-booking and were later trading flat at 56,914 and 16,930. HCL Tech, Tech Mahindra, Bharti Airtel, Adani Ports, and TCS were the top gainers on the 50-share index while Tata Motors, HDFC Life, IndusInd Bank, SBI, and RIL were the biggest laggards. In the broader markets, the BSE MidCap index added 0.2 percent while the BSE SmallCap index advanced 0.4 percent.

Bharti Airtel gains 4.25 percent after board approves Rs 21,000-crore rights issue

Monday, August 30, 2021
Shares of telecom services provider Bharti Airtel gained 4.25 per cent and traded at Rs 625 on the BSE in the intra-day trade on Monday after the Company announced Rs 21,000-crore rights issue , as the telecom operator seeks to expand its network amid intense competition with Reliance Jio Infocomm Ltd. The board fixed the sale price for the rights issue at ₹535 apiece, at a 1:14 ratio, implying a 7 per cent equity dilution, with 25% of the amount to be paid on application and the balance in two more tranches, based on the company’s requirements, within 36 months. The promoter and promoter group of the company will collectively subscribe to the full extent of their aggregate rights entitlement along with any unsubscribed shares in the issue. Bharti Airtel’s promoter group led by Sunil Mittal owns a 55.86% stake in the company. Read more

OLA could seek a valuation of more than $8 billion in the IPO and could lodge a filing in October

Monday, August 30, 2021
The 11-year-old Ola would be joining the group of Indian startups that are ready to tap the IPO market in the coming months. Paytm, the country’s leader in digital payments, Flipkart, the Indian e-commerce giant controlled by Walmart Inc., and digital education startup Byju’s are also preparing for their first-time share sales, Bloomberg News has reported. Ola has selected banks including Citigroup Inc. and Kotak Mahindra Bank Ltd. to manage its Mumbai initial public offering that could raise about $1 billion, according to reliable sources. The company, backed by SoftBank Group Corp. and Tiger Global Management, has also picked Morgan Stanley for the listing. The Bangalore-based startup could seek a valuation of more than $8 billion in the IPO and could lodge a filing as soon as October, according to sources.

India will continue to be a favoured investment destination

Monday, August 30, 2021
India will continue to be a favoured investment destination like we have seen in the last 20 years. Markets have probably discounted a gradual tapering by the US Fed. Recently, small caps and commodities did correct more than large caps. However, keeping the short-term reactions aside, the impact of any taper really depends on the circumstances under which the US Fed starts tapering, according to some analysts. The upside potential in large caps is probably in single-digit percentages. As far as small and mid-caps are concerned, valuations are stretched after the super run of the past 12 months and for the first time in over a decade, the mid-cap indices’ valuations are at a premium to large-caps. Read more

Closing Bell: Sensex gains 765 points, Nifty at 16931.05

Monday, August 30, 2021
At close, the Sensex was up 765.04 points or 1.36% at 56,889.76, and the Nifty was up 225.80 points or 1.35% at 16,931, hits fresh milestones on Monday as Jerome Powell's speech last Friday, suggesting no interest rate hike in the near future, boosted risky assets. Bharti Airtel, Axis Bank, Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, State Bank of India (SBI), Asian Paints, and RIL, among others, were the top index gainers. On the flip side, Nestle India, Tech Mahindra, Infosys, and Tata Consultancy Services (TCS) were Sensex laggards. Barring the Nifty IT index, all the sectoral indices ended in the green. Nifty Bank index surged over 2 percent, the Nifty Metal index advanced 2.5 percent, followed by the Nifty Realty, Pharma, and Bank indices. The BSE MidCap and SmallCap indices ended 1.7 per cent and 1.5 percent higher.

MARKET UPDATE:BSE Sensex hit a new high of 56,544.35 and Nifty touched 16,836 levels

Monday, August 30, 2021
Indian equities scaled new record peaks in early deals today(30th August 2021) as Jerome Powell's speech last Friday suggested interest rate hike in the US could be later than previously thought. The frontline S&P BSE Sensex hit a new high of 56,544.35 while the Nifty50 touched 16,836 levels. Both the indices later scaled down to 56,458 and 16,803 levels, up 333 points and 98 points, respectively. In the broader markets, the BSE MidCap and SmallCap indices gained 1 percent each. Shares of Bharti Airtel gained 1.9 percent and traded at Rs 605.5 on the BSE in the intra-day trade today after the telecom services provider announced a Rs 21,000-crore rights issue. The stock hit an intra-day low of Rs 591.10 after opening at Rs 597.75. In comparison, the S&P BSE Sensex was up 0.69 percent at 56,513 points at 09:35 am.

Thermax gains 4% after subsidiary wins Rs 293-crore order

Thursday, August 26, 2021
Shares of Thermax gained 4 percent at Rs 1,418.55 on the BSE in intra-day trade on Thursday after Thermax Babcock and Wilcox Energy Solutions (TBWES), a wholly-owned subsidiary of the company, wins Rs 293-crore order for a boiler package comprising 3 x Oil & Gas fired boilers on EPC basis for a refinery and petrochemical complex in western India. The scope of supply includes design, manufacture, installation, erection, commissioning and testing of the 3 x oil & gas fired boilers. The turnkey project encompasses civil, structural, mechanical, E & I controls work.“TBWES has won the order in this competitive bidding project owing to its proven product experience, compliance to quality standards, manufacturing and EPC capabilities,” said Ashish Bhandari, MD & CEO, Thermax. Read more

Closing bell Sensex ends flat gains 4.89 points, Nifty at 16636.90

Thursday, August 26, 2021
At close, the Sensex was up 4.89 points or 0.01% at 55,949.10, and the Nifty was up 2.20 points or 0.01% at 16,636.90. Reliance Industries Ltd (RIL), HCL tech, Asian Paints, Bajaj Auto were top BSE Sensex gainers. Bharti Airtel, Maruti Suzuki, Power Grid Corporation of India, Titan Company, Axis Bank were top index losers. About 1578 shares have advanced, 1372 shares declined, and 105 shares are unchanged. The metals pack bled the most, down 1.3 percent, followed by the PSB Index down 0.8 percent. On the upside, the Nifty FMCG index rose 0.58 percent. Oil & gas, realty and power indices ended in the green. Both, the BSE MidCap and SmallCap indices rose 0.3 percent each. India VIX gained marginally to end at 13.54.

TCS market cap crosses Rs 13.5 trillion

Wednesday, August 25, 2021
Shares of TCS gained more than 2 percent intraday today and hit a new high of Rs 3,697 on Wednesday and became the second listed company to cross the Rs 13.5 trillion market capitalization (market cap). The stock of the information technology (IT) giant surpassed its previous high of Rs 3,672.50 touched on Monday, August 23, 2021. In one month TCS stock has outperformed BSE Sensex, surging nearly 15 percent, as compared to a 6 percent rise in the benchmark index. TCS is less than 3 percent away to hit the Rs 14 trillion market cap mark. It currently stands at second position in the overall market cap ranking, behind Reliance Industries which has a market cap of Rs 14.51 trillion, including partly paid shares market cap, according to the BSE data. This sector has been consistently performing well with continuous positive momentum. Analysts say that the main reason behind the positive momentum and healthy revenue growth is strong order bookings, broad-based revenue growth, Read more

Closing Bell: Sensex ends flat down 14.77 points, Nifty at 16634.65

Wednesday, August 25, 2021
At close, the Sensex was down 14.77 points or 0.03% at 55,944.21, and the Nifty was up 10.10 points or 0.06% at 16,634.70, scaled fresh lifetime highs in the intra-day deals, they failed to hold on to their gains and ended flat. TCS was the top gainer followed by Infosys, Reliance Industries, and HUL. On the other hand, Bajaj Finserv was the top Sensex laggard, followed by Titan, Maruti Suzuki, and Bharti Airtel. About 1941 shares have advanced, 1180 shares declined, and 107 shares are unchanged. The Nifty IT index gained 0.7 percent while the Nifty Realty index slipped 0.8 percent, pharma, bank, and auto-ended in red while all other sectoral indices ended higher with the power and oil & gas indices up 1 percent each.The BSE MidCap index closed 0.6 percent higher while the BSE SmallCap index gained 0.7 percent. India VIX was up 3 percent by the close.

Bajaj Finserv gets Sebi nod to set up mutual fund

Tuesday, August 24, 2021
Shares of Bajaj Finserv hit a new high of Rs 16,582, up 8 per cent on the BSE in the intra-day trade on Tuesday, after the company said it has received an in-principle approval from Securities and Exchange Board of India (Sebi) for sponsoring a mutual fund. The company would also be setting an Asset Management Company (AMC).“Accordingly, the company would be setting up an Asset Management Company (AMC) and the Trustee Company, directly or indirectly i.e., itself or through its subsidiary in accordance with applicable SEBI Regulations and other applicable laws," Bajaj Finserv said in an exchange filing. The market-capitalisation (m-cap) of Bajaj Finserv is now more than Rs 2.6 lakh crore, while that of Bajaj Finance breached the Rs 4.2-lakh crore mark. Bajaj Finserv is focused on lending, asset management, wealth management and insurance services. Read more

Closing Bell: Sensex gains 400 points,Nifty ends above 16,600

Tuesday, August 24, 2021
At close, the Sensex was up 403.19 points or 0.73% at 55,958.98, and the Nifty was up 128.10 points or 0.78% at 16,624.60 as US FDA approval of Pfizer-BioNTech's Covid-19 vaccine boosted world stocks. Bajaj Finserv was the top Sensex gainer, followed by Tata Steel, Tech Mahindra, and Bajaj Finance. Nestle India was the top loser in the Sensex pack followed by Infosys, HDFC, and HCL Technologies. About 2067 shares have advanced, 969 shares declined, and 122 shares are unchanged.The BSE MidCap and SmallCap indices settled 1.5 per cent and 1.7 per cent higher, respectively.Bank Nifty gained 1.67 percent. Among sectors, except IT and FMCG, all other sectoral indices ended in the green.India VIX closed with losses

HCL Tech gains 5% on signing contract with reinsurers Munich Re

Monday, August 23, 2021
Shares of HCL Technologies surged 5 per cent to hit a new high of Rs 1,168 on the BSE in intra-day trade on Monday, after the company said it has signed a contract with Munich Re, one of the world’s leading reinsurers, to create a next generation digital workplace for its workforce. The Indian IT major said that building on its strategic digital transformation partnership with Munich Re, HCL will modernize and standardize workplace services for more than 16,000 employees in 40 countries. The company further said it will adopt a “global” strategy to support Munich Re’s global workforce in multiple languages, including German, Spanish and Mandarin, from near-shore locations. HCL will also implement a highly personalized service desk solution and leverage the power of automation and self-service capabilities to improve efficiency and enhance employee user experiences, the company said. Read more

Closing Bell: Sensex gains 226 points, Nifty at 16496.45

Monday, August 23, 2021
At close, the Sensex was up 226.47 points or 0.41% at 55555.79, and the Nifty was up 46 points or 0.28% at 16496.50 led by quality large-cap stocks.HCL Tech was the top Sensex gainer, followed by TCS, Bajaj Finserv, Nestle India, and Bharti Airtel. Mahindra & Mahindra was the worst Sensex constituents followed by Bajaj Auto, Ultratech Cement, Power Grid, and ITC. About 745 shares have advanced, 2438 shares declined, and 135 shares are unchanged. The Nifty IT index gained 1.7 percent each and Bank Nifty gained 0.26% while metal, auto, and PSU bank indices lost 0.5-1.5 percent. The BSE MidCap and SmallCap indices slipped 0.9 percent and 1.5 percent, respectively.

Indian stock market likely to underperform: Chris Wood

Friday, August 20, 2021
Indian stock markets are likely to underperform their global peers in case of a global risk-off triggered by a taper scare, believes Christopher Wood, global head of equity strategy at Jefferies. Yet, he remains structurally positive and has hiked allocation to Indian equities by two percentage points (2 ppt). Currently, 31 percent of Wood's Asia ex-Japan thematic equity portfolio for long-only absolute-return investors is in India and includes marquee names such as Reliance Industries (RIL), HDFC, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, Godrej Properties, and ICICI Bank. The major risk to Indian equities, according to him, is the arrival of a new Covid variant, which he says the country shares with the rest of the world. The other risk, according to him, is a change in the Reserve Bank of India's (RBI's) dovish policy.

Sensex falls amid global sell-off

Friday, August 20, 2021
Indian stocks tanked today (20th August 2021) following their global peers as the fear of earlier-than-expected Fed tapering set off a selling spree. Barring select names in the IT sector, all sectoral indices traded in the red. Metals were among the worst hit as they also dealt with plunging iron ore and other metal futures prices. India VIX, barometer of volatility, surged nearly The 30-share Sensex index declined 300 points, or 0.4 percent, and closed at 55,329 levels on Friday while the Nifty50 index ended at 16,451 levels, down 118 points or 0.7 percent. Both the indices had hit intra-day lows of 55,014 and 16,376, respectively, earlier today(20th August 2021). Read more

Closing Bell:Sensex down 300 points, Nifty at 16450.50

Friday, August 20, 2021
At close, Sensex was down 300.17 points or 0.54% at 55329.32, and the Nifty down 118.30 points or 0.71% at 16450.50 after minutes released by the US Federal Reserve suggested tapering of the Fed's stimulus plan by late 2021. Besides, the rampant spread of the Delta variant of Covid-19 and faltering global growth worried investors. Tata Steel was the worst Sensex performer, followed by the State Bank of India, Dr. Reddy’s Laboaratories, and Kotak Mahindra Bank. HUL was the top Sensex gainer, followed by Asian Paints, Nestle India, and Bajaj Finance. About 728 shares have advanced, 2407 shares declined, and 117 shares are unchanged. The Nifty Metal index cracked 6 percent while the FMCG index rose 2 percent. Bank Nifty fell 1.46%. The BSE MidCap and SmallCap indices fell 2 percent each. India VIX soared 8.6% to closed at 14 levels.

MARKET UPDATE:BSE Sensex tumbled 232 points at 55,398 levels and Nifty at 16,467 level, down 101 points

Friday, August 20, 2021
The Indian equities were hit today(20th August 2021) due to Worries that the US Federal Reserve could rein in vast stimulus measures this year, coupled with the rapid spread of the coronavirus Delta variant, signs of faltering Chinese economic growth, and the Taliban's takeover of Afghanistan. The BSE Sensex index tumbled 232 points, or 0.42 percent, at 55,398 levels while the Nifty50 tested the 16,450-mark at 16,467 level, down 101 points. In the broader markets, both, the BSE MidCap and SmallCap indices were down 1 percent each. Sectorally, all except the Nifty IT index (up 0.56 percent) were in the red, led by the Nifty Metal index (down 3 percent).

Oil price lowest since May on demand concerns amid Covid surge

Thursday, August 19, 2021
Crude Oil dropped towards $66 a barrel today(19th August 2021) to its lowest since May, due to concerns about weaker demand as Covid-19 cases rise, a stronger US dollar, and a surprise increase in US gasoline inventories. "The potential withdrawal of monetary support, the chaotic Taliban takeover of Afghanistan that threatens with another migrant crisis and worries about the continuous spread of the virus keep the dollar in demand, which, in turn, acts as a brake on any attempted oil-price rally." Brent crude was down $1.72, or 2.5%, at $66.51 at 0816 GMT, after touching its lowest since May 21. US West Intermediate (WTI) fell $1.96, or 3%, to $63.50 after falling as low as $63.39, also its lowest since May 21. Both Brent and US crude have declined for six days in a row, the longest losing streak since a six-day drop for both contracts that ended on Feb. 28, 2020. Read more

Is the market for IPO in India is turning wild?

Thursday, August 19, 2021
The amount of money raised in IPOs this year in India has reached $8.8 billion, already surpassing the totals of the past three years. At the current pace, 2021 would exceed the all-time record of $11.8 billion. Founders, bankers, lawyers, and advisers are racing to cash in on fervent demand for fresh public offerings. The performance of recent IPOs, such as Zomato, has fed the enthusiasm. Newly listed Indian stocks are beating the benchmark Nifty 50 Index by more than 40 percentage points this year, the biggest gap in seven years. Oyo Hotels & Homes Pvt started work last week on its draft prospectus and aims to file in October, according to people familiar with the matter. The ride-hailing leader Ola and fintech startup Pine Labs Pvt have also begun talks with investment bankers, according to other people aware of the situation. Read more

Rally had sustained through 2020 and the second wave and was “not a blip”.FM Nirmala Sitharaman

Wednesday, August 18, 2021
Finance minister Nirmala Sitharaman does not agree with the sentiment that there is a disconnect between the stock market's current run and the real economy. She said the rally had sustained through 2020 and the second wave and was “not a blip”. “Stretched valuations of financial assets pose risks to financial stability. Banks and financial intermediaries need to be cognisant of these risks and spillovers in an interconnected financial system,” wrote Reserve Bank Governor Shaktikanta Das in the Financial Stability Report earlier this year. Read more

Jubilant Food share hits new high, gains 35 percent in a month

Wednesday, August 18, 2021
Shares of Jubilant FoodWorks gained 7 percent intraday and hit a new high of Rs 4166.40 on the BSE on Wednesday on strong growth prospects. The stock price of the Quick Service Restaurant (QSR) company rallied over 34% in the past month due to robot quarterly performance in the first quarter of FY22 (Q1FY22) and healthy growth prospects. Jubilant Foodworks Ltd, operates three international brands, Domino’s Pizza, Dunkin' Donuts, and Popeyes. Jubilant FoodWorks aims to “transform itself into a food-tech powerhouse” after reporting a robust recovery from the second COVID wave, the company said. For Q1FY21, JFL reported a consolidated net profit of Rs 69.06 crore in the first quarter ended June 30, It had posted a consolidated net loss of Rs 74.47 crore in the same quarter last fiscal. Its revenue from operations in the first quarter stood at Rs 893.19 crore as compared to Rs 388.41 crore in the corresponding period last year Read more

Lifting of credit card ban may spark up to 32% rally in HDFC Bank

Wednesday, August 18, 2021
The Reserve Bank of India has lifted the ban on the issue of new credit cards which may trigger an up to 32 percent rally in the HDFC Bank’s stock, according to analysts, as the lift has come ahead of the festive season, presenting an opportunity to capture market share. The HDFC Bank scrip surged 3 percent at Rs 1,564.75 on the BSE in intra-day trade today(18th August 2021) and was among the top gainers on the BSE barometer. In comparison, the S&P BSE Sensex was up 0.5 percent at 10:30 AM. Some analysts opine that the lender will be able to regain its lost market share of 180 bps or even more, as there is a large customer base to which it can cross-sell. Financially, the lifting of the ban will protect HDFC Bank's overall profitability as the credit card segment is the key earnings driver, says Motilal Oswal Financial Services.

Closing Bell:Sensex down 163 points, Nifty at 16568.85

Wednesday, August 18, 2021
At close, the Sensex was down 162.78 points or 0.29% at 55629.49, and the Nifty was down 45.80 points or 0.28% at 16568.80 amid weekly F&O expiry, aggravated by profit-booking in financial, metal, and select auto stocks, dragged benchmarks in the red on Wednesday. Kotak Mahindra Bank, ICICI Bank, Power Grid Corporation of India, IndusInd Bank, Housing Development Finance Corporation (HDFC) were top BSE Sensex laggards. On the flip side, Ultratech Cement, Bajaj Finance, Bajaj Finserv, Nestle India were top gainers. About 1037 shares have advanced, 2067 shares declined, and 110 shares are unchanged. the Nifty metal and bank indices fall 0.8 percent each, while buying was seen in the FMCG, pharma, and PSU Bank names. BSE midcap rose 0.26 percent and smallcap indices were down 0.18 percent.

MARKET UPDATE:BSE Sensex rose 294 points to touch 56,086.50 and Nifty hit 16,692-mark, up over 70 points

Wednesday, August 18, 2021
Today (18th August 2021) the S&P BSE Sensex index rose as much as 294 points to touch 56,086.50 in the first few minutes of trade, and the broader NSE Nifty50 benchmark climbed to as high as 16,691.95, up 77 points from its previous close. HDFC Bank, Ultratech Cement, HDFC, Asian Paints, and Nestle India lifted the headline indices to new highs on Wednesday. The BSE Sensex index scaled a new all-time high of 56,086.5, up 250 points or 0.5 percent. The Nifty50, on the other hand, hit the 16,692-mark, up over 70 points or 0.4 percent. In the broader markets, both, the BSE MidCap and SmallCap indices were up 0.3 percent each.

IT, FMCG stocks lift Sensex 210 pts up, Nifty tops 16,600

Tuesday, August 17, 2021
Indian Benchmark indices turned sharply higher in the last hour of trade today(17th August 2021) amid strong gains in IT heavyweights, FMCGs, and HDFC stock. The frontline BSE barometer zoomed 210 points, or 0.4 percent, to end at 55,792 levels while the NSE's Nifty50 closed at 16,615-mark, up 52 points or 0.3 percent. In the intra-day deals, both the indices scaled new peaks of 55,855 and 16,628.5 levels, respectively. In the broader markets, the BSE MidCap index outperformed its small-cap and large-cap peers and advanced 0.7 percent. The BSE SmallCap index, meanwhile, was up 0.3 percent. Sectorally, the Nifty IT index hit a new lifetime high of 33,487 in the intra-day. It ended 2.6 percent higher at 33,415. On the downside, the Nifty Metal index skidded 2.5 percent.

India's GDP likely to grow 13-23% in first quarter

Tuesday, August 17, 2021
Indian GDP growth is estimated by the economists to grow in the range of 13.1-23 percent for the first quarter (Q1) of this fiscal year. The index of industrial production (IIP) would take into account 45 percent of manufacturing while the rest will be corporate data, he said. Soumya Kanti Ghosh, the chief economic advisor to the SBI group, said: “Our preliminary estimates suggest that GDP growth could be in the range of 17-18 percent for Q1.” However, he said ideally one should look at the gross value added (GVA) numbers because the GDP numbers were likely to be bolstered by strong tax collection in Q1. Net product taxes, which take out subsidies, are added to GVA to arrive at GDP. Read more

MARKET UPDATE:Volatile market;BSE Sensex up 45 points at 55,628 levels and Nifty at 16,572 level, up 9 points

Tuesday, August 17, 2021
Indian equities were volatile today(17th August 2021) amid tepid gains in Asian markets and stretched valuations back home. The headline S&P BSE Sensex was up 45 points at 55,628 levels while the Nifty50 index was at 16,572 level, up 9 points. Both the indices hit new all-time highs of 55,688.5 and 16,591 levels, respectively. In the broader markets, the BSE MidCap and SmallCap indexes were mildly below the flatline. Sectorally, markets looked defensive with pharma and FMCG stocks in the green and cyclical like banks and auto in the red.

HDFC Bank plans to raise funds via AT-1 bonds from overseas market

Monday, August 16, 2021
HDFC Bank on Monday said the bank plans to raise capital by additional tier- I (AT1) bonds in the overseas market to fund its business growth. The bank is expected to raise up to USD 1 billion from these dollar-denominated bonds. “We had informed the stock exchanges that the Board of Directors of HDFC Bank in its meeting held on July 17, 2021, is contemplating raising of long term funds through the issuance of $ Basel III Compliant Additional Tier 1 Bonds (Notes), in the international markets, subject to market conditions,” it said in its filing. An offering memorandum (OM) has been prepared and shall be made available to the prospective investors in relation to the contemplated issue of notes, it said. The notes will not be offered or sold in India under the applicable laws, including the Companies Act, 2013, as amended from time to time, it added. Read more

RIL gains on reports of Aramco eyeing stake buy in its O2C business

Monday, August 16, 2021
RIL shares were up nearly 3 percent at Rs 2,202 on the BSE in intra-day trade today(16th August 2021) on a report that Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in the company’s oil refining and chemicals (O2C) business. The stock of the Mukesh Ambani-led RIL was trading at its highest level since June 24, 2021. It had hit a record high of Rs 2,368.80 on September 19, 2020. The Middle Eastern energy firm is discussing the purchase of roughly 20 percent stake in the Reliance unit for about $20 billion to $25 billion in Aramco’s shares, Bloomberg reported quoting the people with knowledge of the matter. RIL could reach an agreement with Aramco as soon as the coming weeks, the report suggested. Meanwhile, in the past week, the stock of RIL has outperformed the market by gaining 5.5 percent, as compared to a 2.2 percent rise in the S&P BSE Sensex.

Vehicle scrappage policy, Ola e-scooter: How to trade key auto stocks

Monday, August 16, 2021
Last weekend the government notified vehicle scrappage policy and Ola launched its e-scooter. In this backdrop following are the tips for the trading of auto stocks: 1. Maruti Suzuki India The shares of Maruti Suzuki India are trading below both the major moving averages i.e 200-days moving average (DMA) and 200-weekly moving average (WMA) placed at Rs 7,215 and Rs 7,293 levels, respectively. This breakdown shows a negative bias that may lead to bearish sentiment in the days ahead, if crucial support of Rs 6,758 is broken, which is its 100-WMA. The immediate support comes in at Rs 6,900 and then Rs 6,850 levels. Read more

Closing Bell: Sensex gains 145.29 points, Nifty at 16563.05

Monday, August 16, 2021
At close, the Sensex was up 145.29 points or 0.26% at 55582.58, and the Nifty was up 33.90 points or 0.21% at 16563. Tata Steel was the top Sensex gainer, followed by Bajaj Finance, M&M, Bajaj Finserv, Reliance Industries, and HDFC. Maruti Suzuki was the worst-performing Sensex constituent followed by Bajaj Auto, Power Grid, Ultratech Cement, and State Bank of India. About 1146 shares have advanced, 2068 shares declined, and 136 shares are unchanged.only Nifty Metal, FMCG, and Financial Services witnessed buying and gained 1 percent while Nifty Media, PSU Bank, and Auto indices faced selling pressure. Volatility also surged as India VIX rose 3.6 percent to 13.45. The BSE Smallcap index lost 0.57 percent and the BSE Midcap index shed 0.18 percent.

MARKET UPDATE:BSE Sensex at 55,357 levels, down 81 points and Nifty down 23 points at 16.505 levels

Monday, August 16, 2021
Indian benchmark equities were slipped today(16th August 2021), in line with Asian markets. The benchmark S&P BSE Sensex was at 55,357 levels, down 81 points or 0.15 percent, while the Nifty50 defended 16,500-mark, down 23 points at 16.505 levels. The Nifty Metal and Auto indices were the only indices in the green. In the broader market, the BSE MidCap and SmallCap indices were down 0.1 percent and 0.2 percent, respectively. Globally, Japan's Nikkei slipped 2 percent, Australia's ASX 200 fell 0.4 percent, and MSCI's broadest index of Asia-Pacific shares outside Japan traded flat. South Korea’s markets are closed on Monday for a holiday. Read more

Bharti Airtel concludes spectrum trading agreement with Jio

Friday, August 13, 2021
Shares of Bharti Airtel hit a new record high of Rs 638.60, on the BSE in the intra-day trade today(13th August 2021), after the company announced the closure of its agreement with Reliance Jio Infocomm to transfer the 'Right to Use' of Airtel's 800 MHz spectrum in three circles to Jio. Bharti Airtel in a statement said the company has received Rs 1,004.8 crore from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 469.3 crore relating to the spectrum, the company said. In the past month, the stock of Bharti Airtel has outperformed the market by surging 20 percent, as compared to a 4.8 percent rise in the S&P BSE Sensex. Read more

Are we heading into second phase of bull market?

Friday, August 13, 2021
A very important trait of any bull market is that it should have a very good breadth. as of now large caps, midcaps, small-cap all have been doing well. Almost all sectors and even the biggest laggards are doing well and that is very positive. We are staring at two parallel markets. Nifty at an all-time high, blue sky. But there are dark clouds over mid and small-cap stocks. We just need to take a step back and understand the price action that has led up to this move. If you take the Covid bottom in March 2020, from there the small-cap index has been up 233% and the Nifty is up 116% or 118%. What has happened is that from the base, the small caps have outperformed the Nifty. If that is taken into perspective, it is very logical that at some point in time, the large caps need to catch up or the small caps need to rest. Read more

Larsen & Toubro Gains On Bagging Order From Technip Energies

Friday, August 13, 2021
Shares of Larsen & Toubro (L&T) gained 2.8 percent and hit a record high of Rs.1,676, on the BSE in intra-day trade on Friday, after the company’s heavy engineering arm won an order for Oxidation Reactor from Technip Energies-India, which develops indigenous technology for the critical equipment."This order for the technologically critical Titanium Clad Reactor is for a Public Sector Petrochemical project for Purified Terephthalic Acid plant. The scope of supply involves Design, Material Procurement, fabrication, inspection, and testing of Reactor meeting the Licensors stringent quality requirements," Larsen & Toubro said. This order marks the opening of multiple avenues for L&T Heavy Engineering for critical titanium-clad reactors in both domestic and global markets. Read more

Closing Bell: Sensex gains 593 points, Nifty at 16529.10

Friday, August 13, 2021
At close, the Sensex was up 593.31 points or 1.08% at 55,437.29, and the Nifty was up 164.70 points or 1.01% at 16,529.10 lifted benchmark indices to fresh all-time highs. Tata Consumer Products emerged as the top gainer, followed by TCS, LT, HCL Tech, Tata Steel, HDFC Bank, Bharti Airtel, Infosys, Wipro, HDFC, RIL, and ITC. Power Grid was the worst Sensex performer followed by Dr Reddy’s. IndusInd Bank, and Bajaj Finance. About 1412 shares have advanced, 1583 shares declined, and 81 shares are unchanged. Except for pharma, all other sectoral indices ended in the green with the IT index added 1 percent. The MidCap and SmallCap indices slipped 0.06 percent and 0.01 percent, respectively.

MARKET UPDATE:BSE Sensex claimed new record high of 55,138 and Nifty zoomed to 16,462

Friday, August 13, 2021
Indian equities hit fresh lifetime highs today(13th August 2021) despite subdued global cues. The S&P BSE Sensex claimed a new record high of 55,138 while the Nifty50 index zoomed to 16,462. Tata Consumer Products, Hindalco, TCS, Bajaj Auto, ITC, and BPCL were the top Nifty gainers In the broader markets, the BSE MidCap and SmallCap index were up 0.3 percent and 0.5 percent, respectively. Shares of Globus Spirits were locked in the upper circuit for the fifth straight trading day, up 5 percent at Rs 941, also its new high on the National Stock Exchange (NSE) today after the promoter and institutional investors bought a stake in the company through the open Read more

BSE has sought to cap the price movement of select scrips, especially the mid-, small-cap segments

Thursday, August 12, 2021
A quick calendar year-to-date price check on the stocks from the categories put under 'Add-on Price Band Framework' by the BSE reveals a total of 210 stocks have seen their market price more than double. This may be the reason for the BSE to cap the price movement of select scrips, especially the mid-, small-cap segments, traded on the exchange. Stocks like SC Agrotech, Adinath Textiles, Waaree Renewable Technologies, Steel Strips Infrastructure, Unistar Multimedia, Texel Industries, Raja Bahadur International, and Hindustan Everest Tools from the BSE's X and XT group have rallied over 500 percent during this period.

Bata India gains 5 percent, Q1 loss narrows to Rs 69 crores

Thursday, August 12, 2021
Footwear maker's Bata India shares gained 5 percent and hit a 52-week high of Rs 1754.80 on the BSE in intra-day session on Thursday after the company reported narrowing of consolidated net loss to Rs 69.47 crore for the first quarter ended June 30, 2021. The company had posted a net loss of Rs 100.88 crore for the same period of 2020-21, Bata India said in a BSE filing. The firm’s operating revenue grew 98 percent to Rs 267 crore on a low base of Rs 135 crore that it has reported in the year-ago period. While revenues have almost doubled year-on-year to Rs 267.04 crore, helped by a favorable base, sales are still 70% lower than Q1FY20. "Sales across retail outlets remained largely subdued, owing to the second wave of COVID-19 infections and ensuing lockdowns. However, sales through e-commerce platforms continued to remain robust and witnessed an uptick despite the restrictions," Total expenses were higher at Rs 371.61 crore as compared with Rs 321.85 crore in the year-ago period. Read more

India’s largest fund house has waved the red flag on the country’s stock market

Thursday, August 12, 2021
SBI Mutual Fund, India’s largest mutual fund asset manager, has waved the red flag on the country’s stock market. The asset manager, which manages assets worth more than Rs 5 lakh crore, is concerned over the prospects of returns from the Indian equities going ahead, because of the euphoria on display in the primary market and among retail investors. “Primary market activity is flashing warning signs. Such level of activity is normally associated with euphoria (in the market),” Dinesh Balachandran, fund manager at SBI Mutual Fund said at the launch of the SBI Balanced Advantage Fund yesterday(11th August 2021). Read more

Closing Bell: Sensex gains 300 points, Nifty at 16364.40

Thursday, August 12, 2021
At close, the Sensex was up 318.05 points or 0.58% at 54843.98, and the Nifty was up 82.10 points or 0.50% at 16364.40 supported by the IT and PSU Banking names. Power Grid Corporation of India, ITC, M&M, Bajaj Finance, ICICI Bank, Bajaj-Auto, HDFC Bank were top Sensex gainers. Dr Reddy’s, Sun Pharma, Hindustan Unilever Ltd (HUL), Asian Paints, IndusInd Bank were among the top index laggards. About 2314 shares have advanced, 816 shares declined, and 113 shares are unchanged. The Nifty IT index advanced nearly 2 percent on the NSE today while the PSU bank index added 1.3 percent. All other sectoral indices, barring the Nifty Pharma index down 1 percent, other indices gained up to 0.7 percent. The BSE MidCap index quoted 1.07 percent higher and the BSE SmallCap index was up 1.97 percent.

MARKET UPDATE:Sensex up 80 points at 54,600 levels and Nifty hovered around 16,312-mark, up 30 points

Thursday, August 12, 2021
Indian equities made a cautious start today(12th July 2021), after a roller-coaster session yesterday, on the back of gains in auto, metal, and PSU bank stocks. The BSE Sensex index was up 80 points at 54,600 levels while the Nifty50 hovered around 16,312-mark, up 30 points. In the broader markets, the BSE MidCap and SmallCap indices were trading higher, up 0.28 percent and 1 percent, respectively. Key companies like Ashok Leyland, Aurobindo Pharma, Eicher Motors, Hero MotoCorp, IRCTC, NMDC, Natco Pharma, Oil India, Page Industries, Power Finance, BPCL, and Tata Steel are slated to post their quarterly earnings today.

Manappuram Finance shares decline 15 percent after Q1 result

Wednesday, August 11, 2021
Shares of Manappuram Finance slipped 15 percent at Rs 163.45 on the BSE in the intra-day trade on Wednesday after the company reported consolidated profit after tax (PAT) at Rs 436.90 crore, The company has posted Rs 368.11 crore during the previous quarter ended June 2020, up 18.7 percent year on year (YoY), but down 8 percent quarter on quarter (QoQ) for the quarter ended June 2021 (Q1FY22). The company missed street’s expectations due to lower net interest income (NII) in the first quarter of the financial year 2021-22 (April-June). Income from operations was up by 3.4 percent to Rs 1,565 crore in Q1FY22 as against Rs 1,513 crore in Q1FY21, Manappuram Finance said in a regulatory filing. The gold loan book declined 13 percent QoQ to Rs 16,500 crore and gold holdings slipped 11 percent QoQ to 58.1 tonnages. Its assets under management (AUM) hit a six-quarter low. Read more

Closing Bell: Market ends flat, Nifty at 16282.25

Wednesday, August 11, 2021
At Close, the Sensex was down 28.73 points or 0.05% at 54525.93, and the Nifty was up 2.20 points or 0.01% at 16282.30. Tata Steel was the top Sensex gainer, followed by NTPC, Power Grid, and Reliance Industries. On the other end of the table, Kotak Mahindra Bank was the top loser, followed by Bajaj Auto, Sun Pharma, and Nestle India. About 1007 shares have advanced, 2123 shares declined, and 131 shares are unchanged. The Nifty Metal index was the top gainer, up 3.14 percent, the energy index rose over 1 percent, while the Nifty Pharma index was the top laggard, down 1.5 percent. The BSE SmallCap index, which was down over 3 percent at one point during the day, ended just 0.83 percent lower. The BSE MidCap index, on the other hand, closed 0.22 percent down.

MARKET UPDATE:Sensex skidded 165 points to trade at 54,390 levels and Nifty gave up 16,250 levels

Wednesday, August 11, 2021
In Indian markets, an across-the-board selloff hit Street today(11th August 2021), erasing early morning gains. At the headline level, BSE Sensex skidded 165 points to trade at 54,390 levels while the Nifty50 gave up 16,250 levels. The broader markets, too, succumbed to profit-booking. The BSE MidCap and SmallCap indices fell 1.5 percent and 2.5 percent, respectively. Around 300 companies including Bata India, Cadila Healthcare, Endurance Tech, New India Assurance, Antony Waste Handling Cell, Bajaj Electricals, HEG, IDFC, India Cement, VIP Industries, and Pidilite are slated to post their quarterly earnings today.

Stocks of some battery makers can jump up to 25%

Tuesday, August 10, 2021
RIL has forayed into Lithium-ion battery biz through stake buy in US company. Stocks of traditional battery makers can jump up to 25, according to analysts. 1. Amara Raja Batteries Limited Likely target: Rs 774 and Rs 840 Upside potential: 4.50% to 12% To break out on the upside, the counter needs to firmly close above the 50-days moving average (DMA), which is currently placed at Rs 740 levels. Only upon conquering the resistance, the stock may see head towards Rs 774 and then Rs 840 levels, which are its 100-DMA and 200-DMA, respectively. The current trend suggests that the scrip is making an effort to cross the 50-DMA. Read more

Coal India quarterly result

Tuesday, August 10, 2021
The country's largest coal mining company, Coal India reported a 52.4 percent year-on-year rise in consolidated net profit to Rs 3,174 crore for the quarter ended June, which was below analysts’ expectations. Profit was estimated at Rs 3,805 crore on revenue of Rs 24,400 crore for the June quarter, according to the average estimates of analysts polled by CNBC. It was Rs 2,080 crore in the year-ago period. Consolidated revenue from operations increased 36.8 percent year-on-year to Rs 25,282.1 crore in Q1FY22, with offtake (raw coal) rising sharply by 32.8 percent YoY to 160.44 million tonnes. The company also saw a sharp rise in expenses during the quarter led by raw material costs. Coal India’s consolidated total expenses in the reported quarter jumped 31.3 percent on year to Rs 21,626.5 crore. The state-owned coal mining firm produced 123.98 million tonnes of raw coal in Q1FY22, increasing compared to 121.04 million tonnes of production in the corresponding period last fiscal. Read more

Midcap and Smallcap stocks down;24 stocks freeze at lower circuits

Tuesday, August 10, 2021
Today (10th August 2021) shares of mid and small-cap companies came under pressure, falling by up to 18 percent on the BSE amid profit booking. At 02:04 pm, the S&P BSE Midcap index and the S&P BSE Smallcap index were down 1 percent and 2 percent, respectively. In comparison, the benchmark S&P BSE Sensex was up 0.23 percent at 54,527 points. With today's fall, mid-and small-cap indices have corrected 3.3 percent and 4.6 percent, respectively from their respective all-time highs touched on August 4, 2021. Prior to that, the S&P BSE Midcap index had rallied 29 percent, and the S&P BSE Smallcap index had zoomed 48 percent in the calendar year 2021. Read more

Closing Bell:Sensex gains 200 points, Nifty at 16280.10

Tuesday, August 10, 2021
At close, the Sensex was up 151.81 points or 0.28% at 54554.66, and the Nifty was up 21.80 points or 0.13% at 16280.10 after falling from record-high levels on Tuesday. Kotak Mahindra Bank, Housing Development Finance Corporation (HDFC), Titan Company, Bajaj Finance, M&M, State Bank of India (SBI), IndusInd Bank were top Sensex gainers. Power Grid Corporation of India, Nestle India, Bajaj-Auto, HUL, ITC were top index losers. About 679 shares have advanced, 2401 shares declined, and 98 shares are unchanged. Barring the Nifty FMCG index, all the sectoral indices were trading in the green. Bank Nifty was up 0.58 percent at 36,238.80. Nifty Financial Services index gained 0.7 percent. The BSE MidCap and SmallCap indices bled 1 percent and 2 percent, respectively.

MARKET UPDATE: Sensex up 260 points to trade at 54,662 levels and Nifty hovering above 16,300-mark, up 60 points

Tuesday, August 10, 2021
Indian equities picked pace today(10th August 2021), amid mixed global signals, propelled by gains in consumer durables, bank, and realty stocks. The benchmark S&P BSE Sensex added 260 points, or 0.48 percent, to trade at 54,662 levels while the Nifty50 index was hovering above the 16,300-mark, up 60 points. In the broader market space, the BSE MidCap and SmallCap indices gained up to 0.2 percent. More than 200 companies including Zomato, Coal India, Lupin, Power Grid Corporation of India, Ashoka Buildcon, Deepak Fertilisers, Eveready Industries, KIMS, Max Financial Services, Motherson Sumi Systems, and Whirlpool of India are slated to post their quarterly earnings today.

Rolex rings lists at 1250 39 percent jump over IPO price

Monday, August 9, 2021
Auto components maker Rolex Rings based in Gujarat made its stock market debut on Monday with its shares listing at ₹1,250 per share on the NSE, surging nearly 39% premium over its issue price of ₹900 per share. It rallied up to Rs 1,264.95, up 40 percent. Analysts had expected it to debut with a 45-50 percent premium. The Rolex Rings was subscribed a massive 130 times by investors last month. Rolex Rings’ Rs 731 crore IPO was a mix of fresh issues of equity shares worth Rs 56 crore while the remaining Rs 675 crore was an offer for sale (OFS) by existing shareholders. The company's price band was fixed at ₹880-900 per share. The company is one of the top five forging companies in India, in terms of installed capacity The client base of Rolex Rings consists of leading global bearing manufacturers such as SKF, Timken, Schaeffler, NEI & NRB Bearings. Read more

DoT may set up a panel for telco financial relief package

Monday, August 9, 2021
The Department of Telecom­munications (DoT) may appoint an external consultant or set up a panel to finalise financial relief to the sector. It is learnt that the department is likely to consult an external agency for the revival package that is expected to provide relief to the sector besides being a lifeline for Vodafone Idea. At the time of bringing the revival package for state-owned Bharat Sanchar Nigam, the Centre had sought remarks from the likes of IIM Ahmedabad and Deloitte.

Five bank stocks that can rally up to 13% from current levels

Monday, August 9, 2021
Since April 2021 the NIFTY BANK index has faced resistance at higher levels and has been unable to cross 36,000 levels, as per the weekly setup. The recent momentum, however, has propelled Nifty Bank above the said resistance and there are chances that it can see 36,750 levels in the days ahead, as per the daily chart. The overall structure of weekly and daily charts suggests a positive rally that could see Nifty Bank surpass 37,000 levels and gain more ground. The immediate support comes at 35,500 levels. NIFTYBANK Likely target: 36,750 and 37,000 Upside potential: 2% to 2.50% Read more

Closing Bell:Sensex gains 125 points, Nifty at 16258.25

Monday, August 9, 2021
At close, the Sensex was up 125.13 points or 0.23% at 54402.85, and the Nifty was up 20.10 points or 0.12% at 16258.30 ended mildly higher following a volatile session on Monday. M&M, Tech Mahindra, Axis Bank, Bajaj Finserv, and IndusInd Bank were the top Nifty gainers. Tata Consumer Products, Coal India, Adani Ports, SBI Life Insurance, and Bharti Airtel were among the top losers. Sectorally, the Nifty Metal index dipped 2 percent, followed by the Nifty PSU Bank index down 1.6 percent. On the contrary, the Nifty Bank and IT indices added 0.4 percent each. The BSE MidCap and SmallCap indices declined nearly 1 percent each. India VIX, the volatility index, ended flat at 12.61 levels. The newly-listed Rolex Rings share price ended 6.60 percent down from the opening price, while 29.62 percent up from the issue price.

MARKET UPDATE: Volatile markets;Sensex was trading at 54,452 levels, up 174 points and Nifty was quoting at 16,285 levels, up 47 points

Monday, August 9, 2021
Indian equity markets were volatile today(9th August 2021) amid mixed global trends. The frontline S&P BSE Sensex was trading at 54,452 levels, up 174 points or 0.32 percent, in early deals while the Nifty50 was quoting at 16,285 levels, up 47 points. Tech M, HCL Tech, UltraTech Cement, Infosys, SBI, and IndusInd Bank were the top gainers. In the broader markets, the BSE MidCap index slipped 0.12 percent while the BSE SmallCap index added 0.3 percent. In the commodities market, gold slumped to the lowest since March as the prospect of higher rates makes bullion less attractive relative to other assets. Silver dropped to its lowest since November and crude oil extended last week's decline on concern the delta virus strain will hamper demand growth. Read more

Top cryptocurrency: Bitcoin, Ethereum, Uniswap gain up to 6%

Friday, August 6, 2021
Major cryptocurrencies were trading mixed on Friday after the big Etherum update. Six of the top 10 digital tokens were trading higher at 9.30 hours IST, thanks to gains in Bitcoin, Ethereum, and Uniswap. The global crypto market cap declined to $1.65 trillion, about 2 percent higher compared to the last day. However, the total crypto market volume jumped 22 percent to $100.09 billion. It was a fantastic session for blue chips in cryptocurrencies. Bitcoin surpassed $40,000, Ethereum hovered around $2,800, said Edul Patel, CEO, and co-founder of Mudrex. The second-largest blockchain network, Ethereum, went through the much-awaited 'London Hard Fork' software upgrade on Thursday, which is expected to stabilize transaction fees and reduce the supply of the Ether token. The digital token reversed its losses.

RBI hints at normalising ultra-loose policy

Friday, August 6, 2021
The August review of the Reserve Bank of India’s bi-monthly monetary policy was interesting as: 1.) no unanimous voting on the policy stance 2.) more than expected revision in inflation forecast for FY22 and 3.) announcement of the variable rate reserve repo auction – an indication that the central bank has started the gradual withdrawal of the ultra-loose monetary policy that was in place since the onset of the Covid-19 pandemic. As expected, there was complete unanimity among all the six members of the monetary policy committee (MPC) to keep the interest rate unchanged at 4%. However, on maintaining the accommodative stance, five of the six members voted in favour. Professor Jayanth Verma disagreed. Read more

Closing Bell: Sensex down 215 points, Nifty at 16238.20

Friday, August 6, 2021
At close, the Sensex was down 215.12 points or 0.39% at 54277.72, and the Nifty was down 56.40 points or 0.35% at 16238.20 as investors booked profit after the Reserve Bank of India's monetary policy outcome. Reliance Industries was the top laggard, followed by Ultratech Cement, Tata Steel, HCL Technologies, and State Bank of India. On the other end, IndusInd Bank was the top gainer followed by Tech Mahindra, Bharti Airtel, and Maruti Suzuki India. About 1728 shares have advanced, 1400 shares declined, and 120 shares are unchanged. The metal, auto, and IT indices ended higher, while selling was seen in the pharma, FMCG, and infra names. The midcap and smallcap indices rose 0.2 percent each and ended in green

Amazon scores big win as Supreme Court says arbitration restraining Future-Reliance deal enforceable

Friday, August 6, 2021
India’s apex court on Friday ruled in favor of Amazon, as Reliance cannot go ahead with its 24,713 crore deal to buy Future Groups retail assets. The court backed an arbitrator's decision to pause the deal in the Jeff Bezos Vs Mukesh Ambani legal fight. The verdict comes as a big win for e-commerce giant Amazon in the battle for the large Indian market. The US-based company had filed pleas against the merger of Future Retail Ltd (FRL) with Reliance Retail.The Indian Supreme Court said the order by a Singapore arbitration court last year which had ruled to stall the deal between the two Indian giants is enforceable in India.Reliance Retail said a year ago it had reached an agreement with Future Group to acquire the latter’s retail and wholesaler business, as well as its logistics and warehousing business, for $3.4 billion. Read more

MARKET UPDATE: Sensex quoted at 54,600 levels, up 100 points and Nifty held 16,300-mark, up 7 points

Friday, August 6, 2021
As the RBI kept the monetary policy rate unchanged at 4 percent and continued with the "accommodative" policy stance, the BSE Sensex quoted at 54,600 levels, up 100 points while the Nifty50 held 16,300-mark, up 7 points. Sectorally, all but IT and pharma stocks were in the green. The Nifty PSU Bank and Auto indices were the top gainers, up 0.6 percent each. More than 100 companies are slated to post their numbers on Friday including M&M, Voltas, Ujjivan SFB, Tata Power, Torrent Power, SAIL, Hindalco, Indigo Paints, BEML, and BEL. Further, on Saturday Divis Labs, Bank of Baroda, Dodla Dairy, Indiabulls Real Estate, and VRL Logistics will release quarterly earnings.

SBI Life hits new high as Carlyle Asia Partners arm mulls exiting firm

Thursday, August 5, 2021
Shares of SBI Life Insurance Company rallied 3 percent and hit a record high of Rs 1,174, on the BSE in intra-day trade on Thursday after US private equity fund CA Emerald Investments, an affiliate of Carlyle Asia Partners, offloaded its entire 1.9 percent stake in the company via multiple block deals. The stock of the life insurer surpassed its previous high of Rs 1,147.95 touched on July 29, 2021. The price range for the share sale has been set at Rs 1,130-Rs 1,136.85, according to the data available. The upper end is SBI Life’s closing price on the BSE on Wednesday. At the lower end, Carlyle will be able to raise Rs 2,147 crore. BofA Securities India is the investment bank handling the share sale. The stock witnessed a surge in volumes and was trading with volumes of 19,157,312 shares, compared to its five-day average of 55,029 shares, an increase of 34,713.37 percent. Read more

To save or not to save Vodafone Idea-Government's dilemma

Thursday, August 5, 2021
If the government wants to work on the survival of the Vodafone Idea it will have to make substantial payments, as well as forego revenues in FY’23, because it will have to extend the same incentives to the entire telecom sector. According to estimates, the industry has to spend around Rs 21,000-Rs 25,000 crores for spectrum which it bought on a deferred payment basis. Vodafone Idea has asked for a moratorium for another year (FY23). If granted, the government will have foregone the installment payout for the third year in a row as it has already provided a moratorium for two years, giving telcos Rs 42,000 crore worth of relief. However, the payouts will be adjusted with interest for the remaining years of the staggered payment (16 years) scheme and this remains unchanged. Read more

Bharti Airtel headed for a multi-year breakout

Thursday, August 5, 2021
Bharti Airtel shares have traded in a broad range of Rs 520 to Rs 200 from mid-2009 till February 2020. The year 2020 saw the counter break past this consolidation range. However, the price action could not lift the volumes in the favour of the bulls. The selling pressure continued to dominate the stock price above Rs 600 mark. Now, it will be Airtel's third attempt to conquer the selling pressure in the range of Rs 630 to Rs 600 levels. And if it breaks past Rs 630, then the stock price could double and enter the 4-digit club in the medium to long-term; possibly in the next eight to 15 months, as per the monthly layout on the chart, experts say. Read more

Closing Bell: Sensex gains 123 points, Nifty at 16294.60

Thursday, August 5, 2021
At close, the Sensex was up 123.07 points or 0.23% at 54,492.84, and the Nifty was up 35.80 points or 0.22% at 16,294.60 amid buying in FMCG and IT stocks and supported by firm global trends. Bharti Airtel was the top Sensex gainer, followed by ITC, Tech Mahindra, and Tata Steel. SBI, IndusInd Bank, ICICI Bank, and Bajaj Finance were the top laggards on Sensex. About 1036 shares have advanced, 1933 shares declined, and 101 shares are unchanged. Nifty PSU bank index shed 2 percent, while metal index rose 1 percent, and IT index was up 0.7 percent. The BSE MidCap added 0.10 percent but the BSE SmallCap index slipped 0.43 percent. India VIX fell 2.57%.

MARKET UPDATE: Sensex declined 108 points,at 54,261 levels and Nifty dipped 45.5 points to quote at 16,214-mark

Thursday, August 5, 2021
Indian equities erased gains and slipped into the red amid profit-booking. The frontline BSE Sensex declined 108 points, or 0.2 percent, at 54,261 levels while the Nifty50 index dipped 45.5 points, or 0.28 percent, to quote at 16,214-mark. Both the indices hit new highs of 54,576.64 and 16,294.65 in morning deals. Sectorally, all expect the Nifty IT index was in the red led by banking and realty counters. Individually, shares of Vodafone Idea hit 15 percent lower circuit after Kumar Mangalam Birla stepped down as non-executive chairman of Vodafone Idea (Vi) after offering to give up his stake in the debt-ridden telecommunications (telecom) company. More than 100 companies, including Adani Power, NCC, GAIL, Tata Chemicals, Cipla, Quess Corp, Indiabulls Housing Finance, and Gujarat Gas are slated to post their results.

Service activities decline for 3rd straight month in July due to Lockdown

Wednesday, August 4, 2021
The biggest sector of India's economy, Services, continued to contract for the third month in a row in July due to restrictions imposed by state governments to arrest the spread of the Covid-19 pandemic according to a widely tracked IHS Markit purchasing managers' index (PMI) survey. Business activity, new orders, and employment declined in July, according to a commentary associated with the survey. The latest data also pointed to an intensification of inflationary pressures across the sector, it said. New work intakes also fell for the third month running in July, albeit at a softer pace than in June. In addition to challenging conditions domestically, firms observed a further deterioration in international demand for services. New business from abroad decreased at a sharp pace that was little changed from June. Read more

Sensex leaps 546 pts,but investors poorer by Rs 50,000 cr.

Wednesday, August 4, 2021
Indian benchmark indices continued to scale new record highs today(4th August 2021) as in-line earnings and positive global cues lifted the morale. Bank and financial services stocks were in demand while others saw selling. Broader market indices ended in the red after traders booked profits. However, the volatility indicator cooled off. The return of FIIs also supported the market. The 30-share pack Sensex climbed 546.41 points or 1.02 percent to close at 54,369.77. Its broader peer NSE Nifty advanced 128.05 points or 0.79 percent to 16,258.80. Both indices closed at record high levels. However, overall investor wealth came down by Rs 49,576 crore as the total market cap of BSE-listed companies stood at 239.55 lakh crore. Read more

SBI reports highest-ever quarterly net profit of Rs 6,504 crore in Q1

Wednesday, August 4, 2021
The country's largest lender, State Bank of India shares surged more than 2 percent on Wednesday as the bank reported a net profit of ₹ 6,504 crores in the quarter ended June 2021, which marked an increase of 55 percent from a profit of ₹ 4,189.34 crores during the same period last year. This was the highest quarterly net profit reported by the lender, SBI said in the BSE filing. The profit was higher than Street’s expectations. A CNBC-TV18 poll of analysts had estimated Q1 profit at Rs 6,374.5 crore. The bank's net interest income, the difference between interest earned and expended, witnessed a growth of 3.7% at ₹27,638 crores as against ₹26,641 crore year-on-year (YoY).SBI's other income jumped 48 percent to ₹ 11,803 crores while provisions for bad loans declined 47 percent to ₹ 5,030 crores on a year-on-year basis. The bank’s operating profit surged 5.06 percent year-on-year to Rs 18,975 crore in Q1FY22, against Rs 18,061 crore in Q1FY21. Read more

Closing Bell:Sensex gains 546 points, Nifty at 16258.80

Wednesday, August 4, 2021
At close, the Sensex was up 546.41 points or 1.02% at 54,369.77, and the Nifty was up 128 points or 0.79% at 16,258.80 hitting a fresh high for the third consecutive day on August 4 led by the banking names. HDFC, ICICI Bank, Kotak Mahindra Bank, SBI, Axis Bank, and HDFC Bank were the top gainers. Titan, Nestle India, and Ultratech Cement were the worst Sensex performer. About 1073 shares have advanced, 2104 shares declined, and 113 shares are unchanged. Bank Nifty was up 2.33%. Except for banks, all the other sectoral indices ended in the red. both, The BSE Mid and SmallCap indices declined 1 percent each.

MARKET UPDATE: Sensex zoomed 510 points to quote at 54,333 levels and Nifty at 16,270 levels, up 130 points

Wednesday, August 4, 2021
Factors like ample liquidity, solid earnings by India Inc, and a conducive global mood fired up stocks on Dalal Street today(4th August 2021) with benchmarks claiming fresh record peaks for the second consecutive day. The frontline BSE Sensex zoomed 510 points to quote at 54,333 levels after hitting a new peak of 54,340.5-mark in early deals. Its NSE counterpart, on the other hand, traded at 16,270 levels, up 130 points. In the intra-day session, it hit a new peak of 16,271. In the broader markets, the BSE MidCap and SmallCap indices also claimed new lifetime highs, adding 0.3 percent and 0.6 percent, respectively. About 70 companies, including State Bank of India, Titan Company, Godrej Consumer Products, HPCL, and PNB Housing Finance, that are slated to report their June quarterly result. Read more

Sensex up 873 pts at 53,823; Nifty near 16,150;investors got richer by Rs 2.4 trillion

Tuesday, August 3, 2021
Benchmark indices today (3rd August 2021) recorded their sharpest intra-day gains since May 21 as better-than-expected June quarter performance by India Inc restored investor confidence in faster-than-expected economic recovery. Amid a steep rally, investors got richer by Rs 2.37 trillion, BSE data showed. The BSE barometer of 30-shares zoomed 937 points in the intra-day deals and hit a record high level of 53,888 on the BSE, led by Titan Company (up 4 percent), HDFC, IndusInd Bank, Sun Pharma, SBI, and Nestle India. It pared gains marginally and ended at 53,823 levels, up 873 points or 1.65 percent. The broader Nifty50, meanwhile, hit a new peak of 16,147 on the NSE. It ended with 246 points, or 1.55 percent, gains at 16,131 levels. A long bull candle was formed on the daily chart that indicates a sharp upside breakout of the two months' sideways range of around 15960 levels. This is a positive indication and signals more upside in the near term. Read more

These stocks are flashing bearish signals on the tech charts and can dip up to 15% from here

Tuesday, August 3, 2021
The Indian benchmark indices are trading at all-time high levels, with Nifty50 surging past the 16,000-mark for the first time ever. Analysts expect the market to gain momentum going ahead provided global and domestic cues remain supportive. Charts suggest the possibility of Nifty hitting the 16,100-16,150 level if the current momentum continues. But, there are select stocks that are flashing bearish signals on the tech charts, contrary to the overall market setup. These five stocks from the BSE 500 pack can slip up to 15 percent from here on according to some analysts: Read more

Closing Bell: Sensex rallies 873 points, Nifty at 16130.75

Tuesday, August 3, 2021
At Close, Sensex closed with a gain of 873 points, or 1.65 percent at 53,823.36 while the Nifty finished at 16,130.75, up 246 points, or 1.55 percent as solid buying in pharma, IT, FMCG, and financial stocks lifted benchmark indices to record highs on Tuesday. The Sensex hit its fresh all-time high of 53,887.98, while the Nifty made a fresh peak of 16,146.90 in intraday trade. RIL, Asian Paints, Housing Development Finance Corporation (HDFC), Titan Company, TCS, Tech Mahindra, IndusInd Bank, Bajaj Finserv were among the top Sensex gainers. While Bajaj-Auto, Tata Steel, HCL Tech, NTPC, ICICI Bank were top index losers. Barring Nifty Media and Nifty Metal indices, all the sectoral indices were trading in the green. Nifty FMCG jumped 0.6 percent and Nifty IT index 0.5 percent. The BSE Mid- and SmallCap indices hit new peaks, advancing up to 0.5 percent, in intra-day trade.

MARKET UPDATE: Sensex trading at 53,230 levels, up 280 points and Nifty hit fresh record peak of 15,975, up 90 points

Tuesday, August 3, 2021
Indian equities rallied today(3rd August 2021), bucking weak Asian trend, amid gains in realty, FMCG, pharma, and IT stocks. The frontline S&P BSE Sensex was trading at 53,230 levels, up 280 points while the Nifty50 index hit a fresh record peak of 15,975, up 90 points. The index is only 25 points shy of the 16,000-mark. In the broader markets, too, the BSE Mid- and SmallCap indices hit new peaks, advancing up to 0.5 percent, in intra-day trade. about seventy companies are looking to release their quarterly earnings, including Adani Ports, Adani Enterprises, Bharti Airtel, Barbeque Nation, Dabur, Inox Leisure, and Tata Consumer Products. In regards to Airtel, analysts believe the company may report stable ARPU sequentially and nearly flat revenue growth. Further global cues will continue to sway market sentiments.

Relentless rally to continue for small- and mid-cap stocks

Monday, August 2, 2021
Presently the relentless rally in small- and mid-cap stocks continues as large-caps show signs of fatigue. In July, the Nifty Smallcap 100 rose 8.1 percent, extending its year-to-date (YTD) gains to 48.5 percent, while the Nifty Midcap 100 added 3.1 percent, taking its YTD rise to 33.5 percent. On the other hand, the Nifty50 remained unchanged for the month, with YTD gains of 12.7 percent. Not only are the small- and mid-cap indices off to their best start to a calendar year since 2014 but their outperformance over large-caps is at record levels. The Nifty Midcap 100 index has gained for 14 straight months, while the Smallcap 100 index has given positive returns for 13 of the past 14 months. Read more

Sale of two state-run banks differed to next year?

Monday, August 2, 2021
India’s plan to sell two state-controlled banks may get deferred to the next financial year as the government is yet to seek parliament’s nod for changes in laws required to start the transaction, according to reliable sources. The Finance Ministry hasn’t finalised modalities to seek approval from lawmakers for the sale, which leaves little time for the process to be completed this year, it is said. The government will seek buyers for two state-run banks by March 2022, Finance Minister Nirmala Sitharaman had said in February, in the nation’s budget for the current financial year that began on 1st April.

HDFC Q1 results:Net profit at 3001 Crore

Monday, August 2, 2021
HDFC on Monday reported a 1.6 percent year-on-year (YoY) decrease in standalone net profit at Rs 3,000.67 crore for the April-June quarter of FY22 (Q1FY22). The company had posted a profit of Rs 3,051.5 crore in the year-ago period. The mortgage lender said its interest income stood at Rs 10,523.36 crore, down 2.48 percent from Rs 10,790.66 crore in the year-ago quarter. Total income stood at Rs 11,663.14 crore, down from Rs 13,019.29 crore. The profit number was above the market estimates, as a CNBC-TV18 poll of analysts had expected Q1 profit at Rs 2,898.7 crore. On a consolidated basis, profit after tax stood at Rs 5,311 crore as compared to Rs 4,059 crore in the previous year, representing a growth of 31 percent. The profit before tax for the quarter ended June 30, 2021, stood at Rs 3,905 crore compared to Rs 3,607 crore in the previous year. Read more

Closing Bell:Sensex up 363 points, Nifty at 15885.15

Monday, August 2, 2021
At close, the Sensex was up 363.79 points or 0.69% at 52,950.63, and the Nifty was up 122.20 points or 0.78% at 15,885.20 led by the auto, realty, and oil & gas stocks. Titan was the top Sensex gainer, followed by M&M, Axis Bank, Reliance Industries, and IndusInd Bank. Tata Steel, Power Grid, Tech Mahindra, and NTPC were the worst-performing stocks. About 2007 shares have advanced, 1071 shares declined, and 136 shares are unchanged. All the indices ended in the green, led by the Nifty Realty index up 5 percent, followed by the Nifty Auto index, up 1.4 percent. Both, the BSE MidCap and SamllCap indices hit record highs of 23,342 and 27,106, respectively. India VIX was up 1%.

MARKET UPDATE: Sensex rallied 330 points to trade at 52,916 levels and Nifty hovered around the 15,850-mark, up 92 points

Monday, August 2, 2021
The Indian benchmark indices were up by over 0.5 percent today (2nd August 2021) mainly due to hopes of strong June quarter results, supported by a firm global set-up. Japan's Topix index rose 1.5 percent, Australia's S&P/ASX 200 Index rose 0.1 percent and South Korea's Kospi index gained 0.3 percent in Asia. The S&P BSE Sensex rallied 330 points in early deals to trade at 52,916 levels while the Nifty50 hovered around the 15,850-mark, up 92 points. In the broader markets, small-cap stocks outperformed the frontline indices. In terms of sectoral rotation, investors moved away from metals towards auto stocks. Forty-nine companies HDFC, Punjab National Bank, and Varun Beverages are among the 49 companies slated to report their June quarter results today.

Tata Steel rides metal rally

Friday, July 30, 2021
The metal index has risen 10 percent in the last five trading sessions, compared with a 0.3 percent decline in the Sensex. The performance of metal stocks has been impressive since the outbreak of Covid-19. Tata Steel has been a prime beneficiary of investors’ renewed interest in metal stocks. The steel major’s share price has risen 18 percent over the past week and it has added nearly Rs 27,000 crore to its market capitalisation. The company was among the top-performing large-cap stocks on Thursday and closed with gains of 6.9 percent. Hindalco was, however, the top index gainer on Thursday and was up 10.2 percent. Read more

Sunpharma Q1 results : Netprofit at Rs1,444 crore

Friday, July 30, 2021
Shares of Sun Pharmaceuticals Industries rallied 9 per cent and hit an over four-year high of Rs 767.50 on the BSE in intra-day trade on Friday after the company reported strong results for the June quarter (Q1FY22), The Company reported a consolidated net profit of Rs 1,444 crore for the quarter ended June as against a consolidated net loss of Rs 1,655 crore in the year-ago quarter. Analysts had expected the company to report consolidated net profit of Rs 1,470 crore for the reported quarter. The company reported better-than-expected consolidated sales from operations at Rs 9,669 crore, a growth of 29 per cent over Q1 last year and 14 per cent over Q4 last year. Company reported Rs 7,585.25 crore for the same period a year ago, it added. Analysts had expected 19.5 per cent YoY revenue growth for the quarter. The management said the company witnessed a strong Q1, driven by a combination of robust core business growth, low base and some sale of Covid products. Read more

India equity deals: Cash-rich investors are set to step up the hunt for Indian firms

Friday, July 30, 2021
Cash-rich investors are set to step up the hunt for Indian firms, mainly tech start-ups, likely to benefit in the post-pandemic world, after pumping in a record $30 billion via public and private equity deals this year, analysts said. Global investors have flocked to online platforms in the country and helped swell the ranks of unicorns, or start-ups valued at $1 billion or above. The regulatory clampdown by China on its technology firms is spurring some foreign investors to turn to the world's second-most populous nation instead, analysts said. The fundraising boom in India by companies, ranging from an e-commerce platform to a food delivery app operator, comes even as the country's economic rebound, already weakened in recent months, faces risk from coronavirus variants. Read more

Closing Bell: Sensex down 66 points, Nifty at 15763.05

Friday, July 30, 2021
At close, the Sensex was down 66.23 points or 0.13% at 52586.84, and the Nifty was down 15.50 points or 0.10% at 15763 as domestic equities witnessed sharp profit booking in the fag end of the session as European stocks slipped in early trade and US stock futures hinted at a muted start on Wall Street later today. Sun Pharma, TechMahindra, Cipla, Shree Cements, and Adani Ports were the top Nifty gainers. Bajaj Finance, State Bank of India, Bajaj Finserv, and Tata Steel were the top index drags. About 1808 shares have advanced, 1352 shares declined, and 126 shares are unchanged. Bank Nifty was down 0.31%, the pharma index added 3.6 percent, while the auto index rose nearly 1 percent. However, some selling was seen in the metal and financial names. The BSE MidCap and SmallCap indices zoomed 0.52 percent and 0.69 percent, respectively. India VIX was down 1.16%.

MARKET UPDATE: Sensex advanced 40 points to trade at 52,693 levels and Nifty held above 15,750-mark down 2 points

Friday, July 30, 2021
In Indian markets the S&P BSE Sensex advanced 40 points, or 0.04 percent, to trade at 52,693 levels in early deals today(30th July 2021)led by Tech Mahindra (up 6 percent), HCL Tech, Power Grid, HDFC, and TCS. NSE's Nifty50, meanwhile, held above 15,750-mark at 15,776 levels, down 2 points. In the broader markets, the BSE MidCap and SmallCap indices were trading in the red. Globally, selling resumed in Asian markets as risks of China crackdown still loomed. Japan's Topix index shed 1 percent, Hong Kong Hang Seng tanked 1.4 percent and China's Shanghai Composite index lost 0.8 percent. At the same time, Nasdaq and S&P futures were down 1.3 percent and 0.8 percent, respectively. Read more

Tech Mahindra Q1 results profit jumps 39% YoY to Rs 1,353 crore

Thursday, July 29, 2021
The IT services major Tech Mahindra reported a 39.17 percent year-on-year (YoY) jump in its consolidated net profit at Rs 1,353.2 crore for the April-June period of the financial year 2021-22 (Q1FY22) as against Rs 972.3 crore posted in the corresponding quarter last year. The Company reported Rs 1,081.4 crore in the quarter ended March 2021 which rose by 25.13 percent. The IT services major reported a 4.8 percent quarter-on-quarter rise in consolidated revenues to Rs 10,198 crore for the reported quarter, which was slightly above analysts’ expectations. The consolidated revenue from operations in June 2021 quarter grew 11.98 percent YoY at Rs 10,197.6 crore. The company had posted revenue of Rs 9,106.3 crore in the same period a year ago. Its earnings before interest and tax were down 3.6 percent at Rs 1,545.3 crore versus Rs 1,603.7 crore and the margin was at 15.2 percent versus 16.5 percent, QoQ.The dollar revenue was up 4.1 percent at $1,383.6 million against $1,329.6 million. Read more

Attractive equity markets and volatile gold prices deterrents for investment in the yellow metal

Thursday, July 29, 2021
Attractive equity markets and volatile gold prices may prove to be a deterrent for investment in the yellow metal in the second half of 2021, suggests the latest report from World Gold Council (WGC). That said, the upcoming festival season, including Dhanteras and the wedding season in the October – December quarter of 2021, WGC believes, may see an uptick in demand for the yellow metal. “Consumer investment in gold increased in the second quarter of 2021, but some investors were less bullish. Outlook for the second half of 2021 is yet uncertain, as consumer confidence and business response are subject to the impact of a looming threat of the third wave of Covid and the pace of economic recovery,” said the WGC report. But attractive equity markets and volatile gold prices may prove to be a deterrent for investment in the yellow metal in the second half of 2021. Read more

Cabinet Clears amendments for privatisation of general insurance firm

Thursday, July 29, 2021
The cabinet has approved an amendment to the General Insurance Business (Nationalisation) Act, 1972 paving the way for privatisation of one state-run general insurer. At present, there are four state-run general insurance companies - National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited, and the United India Insurance Company Limited. According to reports, NITI Aayog which was to recommend suitable candidates for privatisation has suggested the name of United India Insurance to the Core Group of Secretaries on Disinvestment headed by the Cabinet Secretary. Read more

Closing Bell: Sensex gains 209 points, Nifty at 15778.45

Thursday, July 29, 2021
At close, the Sensex was up 209.36 points or 0.40% at 52653.07, and the Nifty was up 69.10 points or 0.44% at 15778.50 led by IT, metal, financial stocks. Tata Steel shares were the top gainer followed by Bajaj Finserv, State Bank of India (SBI), HCL Tech, Sun Pharma, Bajaj Finance, Reliance Industries Ltd (RIL), Infosys. On the flip side, Maruti Suzuki, Power Grid Corporation of India, Bajaj-Auto, ITC, Dr. Reddy’s, HUL, Axis Bank were among the top losers. About 1781 shares have advanced, 1170 shares declined, and 109 shares are unchanged. The metal index gained 5, while IT, PSU Bank, and realty indices rose 1-3 percent. However, the FMCG index was down 1 percent. The BSE Mid- and SmallCap indices, too, added 0.39 percent and 0.90 percent, respectively.

MARKET UPDATE: Indian markets resumed their uptrend; Sensex gained 238 points, to quote at 52,681 and Nifty at 15,780 levels, up 81 points

Thursday, July 29, 2021
Indian markets resumed their uptrend today (29th July 2021) after three days of a selloff as global mood stabilised post favourable US Fed meet outcome. Besides, reports that the Chinese Securities regulator has stepped in to assuage investor concerns over tech crackdown supported sentiment. The S&P BSE Sensex gained 238 points, or 0.45 percent, to quote at 52,681. levels in early deals, led by HCL Tech, Bharti Airtel, Tech M, Asian Paints, and Titan.It's NSE counterpart Nifty 50, meanwhile, held above the 15,750-mark at 15,780 levels, up 81 points. The BSE Mid- and SmallCap indices too added 0.54 percent and 0.65 percent, respectively. More than 90 companies, including Tech Mahindra, TVS Motors, Future Retail, Lauras Labs, PVR, Raymond, Stove Kraft, and Union Bank will announce their quarterly numbers today.

Sebi asks for ultimate beneficial owners' information in Adani firms

Wednesday, July 28, 2021
SEBI has written to the custodians of foreign portfolio investors (FPIs) owning shares in six Adani Group firms, seeking information on their ultimate beneficial owners (UBO). These funds include Albula Investment Fund, Cresta Fund, and APMS Investment Fund. A bulk of India investments of these firms is concentrated in Adani Ports and Special Economic Zone, Adani Enterprises, Adani Green Energy, Adani Power, Adani Transmission, and Adani Total Gas. Regulatory sources said the capital markets regulator is looking into the holding structure of these foreign-based funds to ensure there is compliance with Sebi regulations. Read more

Maruti Suzuki Q1 Results net profit of Rs 441 crore

Wednesday, July 28, 2021
The country’s largest carmaker Maruti Suzuki India (MSI) on Wednesday reported a a standalone net profit of Rs 440.8 crore for April-June quarter of FY22 (Q1FY22), hit by increased tax expenses and lower sale volumes. The company had posted a net loss of Rs 249.4 crore in the year-ago period. Revenue for the quarter jumped more than four times to Rs 17,770.7 crore against Rs 4,106.5 crore in Q1FY21. On a quarterly basis, the income tumbled 26 per cent from Rs 24,023.7 crore.T he profit declined 62.19 per cent from Rs 1,166.1-crore profit reported in the March quarter of FY21 as auto sales remained disrupted due to localised lockdown during April and May.The numbers came below market expectations. A CNBC-TV18 poll of analysts had estimated the profit and revenue numbers at Rs 675.7 crore and Rs 17,929 crore, respectively, for the quarter. Read more

Sensex falls for third day; what frightens investors on D-Street?

Wednesday, July 28, 2021
In across-the-board selling by the investors, the benchmark indices tumbled for a third day while volatility shot up ahead of the US Federal Reserve outcome later today and Thursday's July F&O expiry. Overall, the BSE barometer Sensex gave up the 52,000 marks as it cracked 776 points to day's low of 51,803. NSE's Nifty50 tumbled over 200 points to 15,513. Index heavyweights HDFC twins, Reliance Industries, ICICI Bank, Axis Bank, and Infosys were among the top Sensex drags. Select counters like IndusInd Bank, HUL, and Titan held their ground. Investors, meanwhile, turned poorer by nearly Rs 3 trillion. Today's (27th July 2021) fall is due mainly to a regulatory crackdown by the Chinese government. Investors worried whether the selloff in Chinese tech stocks would spread to other segments. Read more

Closing Bell: Sensex down 135 points, Nifty at 15709.40

Wednesday, July 28, 2021
At close, the Sensex was down 135.05 points or 0.26% at 52,443.71, and the Nifty was down 37.10 points or 0.24% at 15,709.40. Kotak Mahindra Bank, Dr. Reddy’s Laboratories, Mahindra & Mahindra (M&M), HDFC Bank, NTPC, RIL were among top Sensex laggards. On the flip side, Bharti Airtel surged over 5 percent, followed by Tata Steel, IndusInd Bank, Bajaj Finserv, ICICI Bank, Infosys among others. About 1299 shares have advanced, 1682 shares declined, and 90 shares are unchanged. Except for the Nifty Metal up 1.12 percent and IT up 0.21 percent, indices ended in the red with the Nifty PSB Index sliding nearly 2 percent. Nifty Auto, energy, and pharma sectors. too witnessed heavy selling and was down nearly 1 percent.The BSE SmallCap index underperformed the headline indices and slipped 0.45 percent. Meanwhile, BSE Midcap ended unchanged.

MARKET UPDATE: Weak global cues drag Sensex lower. All sectoral indices in red

Wednesday, July 28, 2021
Bears tightened their grip on the Indian markets as nervousness in the global markets amid China's tech crackdown and ahead of the US Federal Reserve nudged investors to book profits. The frontline S&P BSE Sensex declined 515 points to trade at 52,067 levels. The Nifty50, on the other hand, gave up 15,600-mark and was at 15,592, down 154 points. Broader indices fell in line with the benchmarks as well. Globally, most Asian indices tracked a weak Wall Street finish to open in the red. Japan's Topix index fell 0.5 percent and Australia’s S&P/ASX 200 lost 0.1 percent although Hong Kong's Hang Seng was up 1.45 percent. Read more

Tata Motors sees sharp cut in FY22 estimates due to the semiconductor shortage

Tuesday, July 27, 2021
The June quarter dealt a double whammy to Tata Motors. On one hand, India's business was hit by disruptions related to the second wave of Covid. On the other hand, its British subsidiary Jaguar & Land Rover (JLR) saw chip shortages, something which may drag its numbers for at least two quarters. Analysts are still positive on the stock, though many have cut earnings estimates for FY22 by up to 80 percent. Following the June quarter earnings, Motilal Oswal Securities has cut its FY22 EPS estimate by 77 percent, accounting for sales loss due to the ongoing semiconductor shortage.

Sell-off in pharma stocks: Sensex drops 274 points

Tuesday, July 27, 2021
Weak global cues and some disappointing shows by India Inc. in the June quarter pushed benchmark indices lower today(27th July 2021), wiping off early gains. Pharma stocks were among the biggest drags. Investors grew nervous on the back of selling across Chinese markets by global funds. On the other hand, certain pockets across the broader market like textile exporters and coffee stocks posted smart gains on the back of rising coffee futures, according to an analyst. The 30-share pack Sensex declined 273.51 points or 0.52 percent to close at 52,578.76. The index fell nearly 450 points from its highs. Its broader peer NSE Nifty fell 78 points or 0.49 percent to 15,746.45. Barring Nifty Metal and Nifty PSU Bank that rose 1.46 percent and 0.38 percent, respectively, all other sectoral indices on NSE ended in the red. Nifty Pharma tanked the most at 4.33 percent. Nifty Private Bank and Nifty Realty fell about a percent each. Read more

MARKET UPDATE: Sensex climbed 153 points to trade at 53,006 levels and Nifty at 15,861, up 36 points

Tuesday, July 27, 2021
Indian indices started higher today(27th July 2021), tracking a solid sentiment in global equities. The benchmark S&P BSE Sensex climbed 153 points, or 0.29 percent, to trade at 53,006 levels while the broader Nifty50 was at 15,861, up 36 points. Broader markets outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.4 percent and 0.8 percent, respectively. Sectorally, all the indices were in the green, led by the Nifty Metal index, up 1 percent. Globally, Japan’s Topix index added 0.6 percent, Australia’s S&P/ASX 200 index rose 0.4 percent, South Korea’s Kospi index increased 0.8 percent, and Hong Kong’s Hang Seng and China’s Shanghai Composite indices added 0.2 percent each. About 60 companies, including IndiGo, IndusInd Bank, DRL are slated to post their quarterly numbers today.

SBI Life Q1 results: Net profit sinks 43% YoY to Rs 223 cr

Monday, July 26, 2021
SBI Life Insurance Company today(26th July 2021) reported a 43 percent year-on-year decline in its net profit to Rs 223 crore for the quarter ended March. The company's sharp decline in bottom line was on account of additional reserves of Rs 440 crore created by the life insurers towards Covid-19 pandemic-related claims that may come up in the coming quarters. The life insurer said that there was a 1.28 times increase in the number of claims reported from the end of the previous financial year to the end of the June quarter, reflecting the devastating impact of the second wave of Covid-19 pandemic on the country. The company said that the total number of claims in the reported quarter was at 8,956, while claims net of reinsurance stood at around Rs 570 crore. Read more

Is it time to look at oil marketing companies(OMC) stocks?

Monday, July 26, 2021
Crude prices have recovered from last week's low of $67.42, although the momentum is not showing much excitement. In the meantime stocks of oil marketing companies (OMCs) are witnessing some profit-taking. Shares of BPCL and Hindustan Petroleum Corporation (HPCL) have declined over 10 percent from the highs touched last month. But a rebound in the last couple of sessions signals stocks could gain momentum. Here is some technical analyses of some major OMCs: S&P BSE OIL & GAS Outlook: Weak momentum at current levels The index has broken its 50-days moving average (DMA) and 100-DMA placed at 16,356 and 15,778, respectively, suggesting resistance at higher levels. The next support for the index comes at its 200-DMA, placed at 14,745, as per the daily chart. While the current momentum indicates weakness, a firm close above 100-DMA may help the index regain positive strength, following which a rally towards 50-DMA is likely. Read more

Kotak Mahindra Bank Q1 Results:Profits jumps 32 percent

Monday, July 26, 2021
Kotak Mahindra Bank on July 26 reported a 32 percent year-on-year (YoY) jump in standalone Q1FY22 net profit at Rs 1,641.92 crore against Rs 1,244.45 crore in Q1FY21, which was below analysts’ expectations. Total income during April-June 2021-22 rose to Rs 8,062.81 crore, from Rs 7,685.40 crore in Q1FY21, Kotak said in a regulatory filing Its net interest income, or core income, rose 6% over the year-earlier to Rs 3,942 crore during the period, against an estimated Rs 3,961 crore. Provisions and contingencies in the quarter declined to Rs 935 crore from Rs 962 crore in the year-ago quarter. However, the lender saw a deterioration in asset quality in the reported quarter. Other income doubled to Rs 1,583 crore. It included fee income worth Rs 1,169 crore, which rose 51% year-on-year. Operating profit for the quarter came in at Rs 3,121 crore, up 19 percent YoY against Rs 2,624 crore in Q1FY21. Read more

Closing Bell: Sensex down 123 points, Nifty at 15824.45

Monday, July 26, 2021
At close, the Sensex was down 123.53 points or 0.23% at 52852.27, and the Nifty was down 31.50 points or 0.20% at 15824.50.ITC, Tata Steel, Titan, and Reliance Industries were the top gainers on Sensex. SBI, Axis Bank, ICICI Bank, HDFC were among the top drags. About 1791 shares have advanced, 1488 shares declined, and 151 shares are unchanged. Nifty Energy index gained 1 percent while bank, auto, and PSU Bank indices ended lower. However, some buying was seen on the metal, pharma, and IT names. Bank Nifty closed 0.24% lower. India VIX jumped 5.87%. The BSE MidCap and SmallCap indices adding 0.06 percent and 0.34 percent, respectively.

MARKET UPDATE: Sensex tumbled 147 points to quote at 52,828 levels and Nifty held at 15,807 levels, down 47 points

Monday, July 26, 2021
The Indian benchmark indices started weak today(26th July 2021), in tune with the other Asian markets, dragged by financials. The headline S&P BSE Sensex tumbled 147 points, or 0.28 percent, to quote at 52,828 levels in early deals while the broader Nifty50 held above the 15,800-mark at 15,807 levels, down 47 points. Shares of RIL dipped 0.35 percent after the Mukesh Ambani-led Reliance Industries (RIL) reported a consolidated net profit of Rs 12,273 crore for the three months ended June 30, 2021 (Q1FY22), down 7.2 percent from Rs 13,233 crore posted in the same period last year (Q1FY21). However, last year's June quarter profit included an exceptional gain of Rs 4,966 crore. This will mean a 48.4 percent growth in adjusted profit after tax over last year's Rs 8,267 crore. Read more

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