Live: Sensex\, Nifty Flat; Ashoka Buildcon Up 38% In 10 Sessions

Live: Sensex, Nifty Flat; Ashoka Buildcon Up 38% In 10 Sessions
A trader points to monitor displaying an S&P 500 Index chart on the floor of the NYSE in New York. (Photographer: Michael Nagle/Bloomberg)

Live: Sensex, Nifty Flat; Ashoka Buildcon Up 38% In 10 Sessions

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Current Market Update

Buzzing Stock: JSPL

  • Trades at the highest level since September 2018
  • Gains as much as 3.4% to Rs 220.4
  • Has gained in eight out of the last ten sessions
  • Up 18% in the last ten trading sessions
  • Today's volumes are 17% lower than its 20-day average
  • Stock in overbought territory with Relative Strength Index (RSI) at 82
  • Has more than quadrupled from its 52-week low of Rs 62 on April 3, 2020
  • 17 out of the 19 analysts tracking the stock have a buy recommendation; 1 sell call
  • Return potential of the stock as per Bloomberg data is 15.9%

July WPI Remains Negative

India's wholesale prices remained negative in July, falling more than economists expected.

Wholesale prices in July fell 0.58%. Estimates of 19 economists ranged from a decline of 1.5% to a rise of 5.4%.

Primary article prices rose 0.63% compared to the previous year.

Fuel, power and lighting prices declined 9.84% compared to last year.

Manufactured product prices rose 0.51% year-on-year.

Wholesale food prices rose 4.08% as compared to the previous year.

Earnings Reaction: 3M India Q1FY21

  • Revenue down 57% to Rs 346.2 crore
  • Net loss of Rs 42.5 crore from net profit of Rs 90.1 crore
  • Ebitda loss of Rs 48.4 crore from Ebitda gain of Rs 148.5 crore
  • Safety and Industrials business revenue down 57% to Rs 132.5 crore
  • Transportation & Electronics business revenue down 70% to Rs 84 crore
  • Healthcare business revenue down 41% to Rs 77 crore
  • Consumer business revenue down 37% to Rs 49 crore
  • Outlook for the remainder of the financial year is uncertain.
  • In the process of executing investments in the range of Rs 65 crore
  • Standalone cash balance improved by about 9% to Rs 665.7 crore

Shares fell as much as 5% - the most in four months to Rs 20,800.

Markets At Noon

  • Benchmark indices continue to consolidate
  • Nifty up 0.3% at 11,337
  • Sensex up 0.34% at 38,443
  • Nifty Bank unchanged at 22,188
  • Nifty Midcap index down 0.46%
  • Nifty Smallcap index down 0.5%
  • India Volatility Index down 4.4% to Rs 19.66
  • Nifty Pharma remains the top sectoral gainer; up 2%
  • Nifty Metal and Nifty Realty are the other major sectoral gainers; up 0.7% each
  • Nifty Auto is the top sectoral laggard; down 1%
  • Cipla remains the top Nifty gainer; up 2%
  • Eicher Motors extendes losses as the top Nifty laggard; down 4%
  • 1,066 stocks on the NSE trade with gains while 704 decline

Buzzing Stock: Ashoka Buildcon

  • Second best performer on the Nifty Smallcap index
  • Gains as much as 7.5% to Rs 69.4
  • Trades at the highest level in five months
  • Gains in nine out of the last 10 trading sessions
  • Up 38% in the last 10 trading sessions
  • Today's volumes are more than triple its 20-day average
  • Entering overbought territory with Relative Strength Index (RSI) at 70
  • Has nearly doubled from its 52-week low of Rs 37 on April 3, 2020
  • Approaching its 200-Day Moving Average of 76.9
  • 22 out of the 23 analysts tracking the stock have a buy recommendation; 0 sell calls
  • Return potential of the stock as per Bloomberg data is 58%