Except for Nifty IT index, all the sectoral indices ended in the greenShare Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended at record closing highs on Thursday, driven by Union Budget optimism. BSE Sensex ended 358.54 points or 0.71 per cent higher at 50,614.29, while the Nifty 50 index rose 106 points or 0.71 per cent to 14,895.65. Meanwhile, Nifty April future hit a record high of 15,000 in intraday deals and ended at 14,955. State Bank of India (SBI), ITC, Bajaj Finance, ONGC, Mahindra & Mahindra (M&M), Kotak Mahindra Bank and Ultratech Cement, were among other Sensex gainers. On the flip side, Asian Paints, IndusInd Bank, Bharti Airtel, Tech Mahindra, Titan Company were the Sensex losers. Except for Nifty IT index, all the sectoral indices ended in the green.
Highlights
Characterised by low volumes, the movement of the index was rather tepid in the first half of trade today. Post 12 noon we saw some strength coming in which pushed the Nifty higher to cross 14900. We are still in a position to expect 15000-15100 on the index and hence any dip or intra day correction can be utilised to enter the markets.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Nifty April future hit a day's high of 15,000, while the Nifty 50 index hit a record high of 14,913.70 levels on Thursday ahead of closing. Nifty future ended at 14,955.
State Bank of India (SBI) share price hit a fresh 52-week high of Rs 354.45 apiece on BSE for the second consecutive day on Thursday even it posted a nearly 7 per cent fall in its standalone net profit at Rs 5,196.22 in the October-December quarter. SBI has surpassed its previous high of Rs 339.80 per share. So far in the day, over 59 lakh shares have been traded on BSE, while 12.87 crore shares exchanged hands on the National Stock Exchange (NSE). During the quarter under review, SBI's total income also fell marginally to Rs 75,980.65 crore during Q3FY21, as against Rs 76,797.91 crore in the same period of 2019-20, SBI said in a regulatory filing.
TRUST Mutual Fund’s maiden new fund offer (NFO) - TRUSTMF Banking & PSU Debt Fund raised Rs 582.68 Crore. The first day AUM after the closure of NFO is Rs 580.24 Crore. The NFO proceeds have been garnered from over 500 investors spread across 44 locations through both digital & offline modes.
BSE Sensex hit a record high of 50,661 and the broader Nifty 50 touched 14,907.95 in the afternoon deals on Thursday, erasing all the losses made in the morning deals.
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With less than an hour to go before the closing bell, Sensex is up 300 points while the Nifty 50 index was nearing 14,900.
Domestic pharmaceutical companies have exhibited earnings visibility, least stressed balance sheets, healthy free cash flows and ability to deliver products during a pandemic, said brokerage and research firm ICICI Direct. In the previous one-year, Nifty Pharma index has jumped 56% while the benchmark Nifty 50 index has managed to gain 24%, clearly hinting at the superiority of pharmaceutical stocks. “The Nifty pharma index has regained momentum after past three weeks healthy breather, signifying resumption of the primary up trend,” the brokerage firm said.
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Most of the Future group shares have hit their respective lower circuits on Thursday, after the capital market regulator Sebi banned Kishore Biyani, along with certain other promoters of Future Retail Ltd from the capital market for one year for indulging in insider trading in the shares of the company.
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India INC anticipates regulator Reserve Bank of India in its upcoming Monetary Policy Committee meeting to take necessary steps that enable continued growth resurgence. We hope that the Monetary Policy will empower India Inc. to ensure availability of due credit across the economy; extension of Insolvency and Bankruptcy Code exemption for a further period of 6 months and support in form of last mile funding options for stressed and delayed projects.: Niranjan Hiranandani, National President, NAREDCO and MD - Hiranandani Group
The kitchen appliance manufacturer and home solutions firm, Stove Kraft’s Rs 412-crore initial public offer (IPO), which was subscribed 18 per cent, is set to make its share market debut on Friday, February 5, 2021. The issue was sold in the price band of Rs 384-385 apiece.
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IT services major HCL Technologies on Thursday said it has signed a five-year Digital Workplace Services agreement with Airbus. Financial details of the deal were not disclosed. HCL will establish a modernised digital workplace to enhance the user experience and service quality for the majority of Airbus employees globally, a statement said.
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The story for India’s banking sector has made a turn-around in less than a year. From fears of a huge spike in non-performing assets last summer to now seeing lenders emerge with strong balance sheets, the tables have turned. The performance charted by large private sector lender in India has turned global brokerage firm Morgan Stanley bullish on domestic banks, expecting them to undergo re-rating soon. “Large private banks have emerged stronger post-crisis – balance sheets are strongest ever, and growth/market share is accelerating,” analysts at Morgan Stanley said in a note.
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The RBI will draw comfort with the recent moderation in headline inflation which would keep them on accommodative mode for now complementing the pro-growth intention of the government. However, much more relaxed path of fiscal consolidation would pose upside risks to core inflation thereby prompting some caution. In the upcoming policy we expect the MPC to maintain status quo on rates and monetary policy stance with some clarity or guidance on the pace of normalisation of the operative target rate towards pre pandemic levels. While we expect the Repo rate to be maintained at 4% through rest of 2021, the reverse repo rate hike of 15-35bps is likely in 2HCY21. We expect the RBI will continue to strive towards bringing the operative rate towards Repo rate through next few quarters largely through tools like variable overnight and term reverse repos.: Upasna Bhardwaj, Senior Economist at Kotak Mahindra Bank
Sensex was trading flat with a negative bias while Nifty 50 turned positive with marginal gains as some banking stocks trimmed their losses.
Sensex now down only 100 points while Nifty 50 nears 14,800. Index heavyweight Reliance Industries was trading flat with a positive bias.
Shares of Future Retail were down 5% on Thursday. The fall comes a day after capital markets regulator SEBI, barred Kishore Biyani, from accessing securities markets for 'insider trading'. Further, the Delhi High court has asked the firm to maintain status quo with regard to its deal with Reliance Industries.
The budget saw the government provide the much-needed fiscal push for economic growth. The equity markets cheered the budget announcements zooming over 4% on the day. The biggest positive for the market seems to be a lack of any particular bad news. There were fears of an increase in capital gains tax or a Covid tax on corporates and these pre-budget anxieties among investors had pulled the indices down the week leading up to the budget. The Rs 5.4 lakh crore capital expenditure estimate focuses much of its attention on the infrastructure sector. The announcement is a welcome boost for the sector in desperate need of capital. A meticulous and quick implementation of these initiatives is key to reviving the sector and leading the economic recovery.
The uptrend continued in the market for the third consecutive sessions on Wednesday and the Nifty closed the day higher by 142 points. After opening on a positive note, the market slipped into intraday decline soon after the opening and filled the upside gap completely. A sustainable upside bounce has occurred in the market during early to mid-part of the session and shifted later into a range move in the mid to later part of the session.
Nifty sectoral indices were trading mixed with Nifty Auto index rising 1.5 per cent while Nifty Bank index fell 0.67 per cent.
IndusInd Bank, Asian Paints, HDFC Bank, Tech Mahindra, ICICI Bank, Axis Bank are top BSE Sensex laggards.
M&M, Bajaj-Auto, ONGC, Bharti Airtel, NTPC, Bajaj Finserv, ITC, Maruti Suzuki among top Sensex gainers.
BSE Sensex fell 200 points or 0.34 per cent to 50,087, while the broader Nifty 50 index was testing 14,750 level on Thursday.
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A Purchase and Sale Agreement has been signed between RMLLC and NOG on February 3, 2021, for this sale and the transaction is subject to customary terms and conditions of closing.
BSE Sensex fell 400 points while the broader Nifty 50 index was trading flat to negative at 14,760 in the pre-open
Reliance Marcellus, LLC, a wholly-owned subsidiary of Reliance Industries Limited, announced the signing of agreements to divest all of its interest in certain upstream assets in the Marcellus shale play of south-western Pennsylvania. These assets, which are currently operated by various affiliates of EQT Corporation, have been agreed to be sold to Northern Oil and Gas, Inc (“NOG”), a Delaware corporation, for a consideration of $250 million cash.
COMEX gold trades 0.5% lower near $1825/oz after a 0.1% gain yesterday. Weighing on gold price is the rise in US10-year bond yield to 3-week high amid increased optimism about the US economy amid some upbeat economic data and increased efforts to approve a stimulus package. Also weighing on price is weaker investor interest as is evident from ETF outflows. However, supporting price is global growth worries amid persisting virus risks and loose monetary policy stance of major central banks and hopes of additional US stimulus. Gold may witness choppy trade as gains in US dollar may be countered by US stimulus expectations: Ravindra Rao, VP- Head Commodity Research at Kotak Securities
On Wednesday, foreign institutional investors (FIIs) lapped up shares worth Rs 2,520.92 crore, whereas domestic institutional investors (DIIs) offloaded shares worth Rs 399.74 crore on a net basis in the Indian equity market.
A total of 105 BSE-listed companies including State Bank of India, Hero MotoCorp, Adani Power, Adani Transmission, Bajaj Electricals, Container Corporation, Gillette India, Godrej Properties, HPCL, Ipca Laboratories, Jubilant Industries, NTPC, REC, Sonata Software, Strides Pharma Science, Tata Power, Trent and Whirlpool of India, among others are scheduled to announce their October-December quarter earnings.
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ICICIBC reported a strong 3QFY21, with earnings driven by steady revenue growth, controlled opex, and lower provisions. Loan growth is showing a strong revival in both wholesale, SME, and retail, with disbursement in many business segments crossing pre-Covid levels, led by festive demand, improving economic outlook, and strong digital ecosystem build by the bank across business segments.
Motilal Oswal
The Centre is in talks with the Reserve Bank of India (RBI) on its plan to list certain categories of government securities on global bond indices in FY22, although it has not yet budgetted any amount to be raised via this route, economic affairs secretary Tarun Bajaj said on Wednesday.
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Domestic equity markets have been rallying for three consecutive sessions now. S&P BSE Sensex reached a fresh all-time high on Wednesday and closed above the 50,000 mark for the first time ever. The broader 50-stock NSE Nifty too claimed fresh highs and closed just shy of 14,800. On Thursday morning SGX Nifty was trading 20 points higher, hinting at a flat to positive opening. Equity indices on Wall Street closed mixed in the previous trading session, a move that could dampen the rally in domestic markets.
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The Sensex closed above the historic 50,000-mark for the first time ever on Wednesday as the post-Budget rally continued for the third straight session. The BSE benchmark rallied 458.03 points (0.92%) to close at 50,255.75. The Nifty rose by 142.1 points (0.97%) to close at 14,789.95. Investors have added wealth of over Rs 12 lakh crore in the last three sessions as the BSE’s market capitalization is nearing Rs 200 lakh crore thanks to FPIs turning buyers, strong quarterly results and a post-Budget optimism.
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The initial public offering of LIC may hit the market in the fourth quarter of next financial year, and the government has introduced amendments to the Life Insurance Corporation Act 1956 to facilitate this, Economic Affairs Secretary Tarun Bajaj said on Wednesday. As many as 27 amendments have been pushed through the Finance Bill 2021 tabled by Finance Minister Nirmala Sitharaman on Monday along with the Union Budget 2021-22.
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