India VIX was up in the green on Monday.
(Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bulls returned to Dalal Street on Monday, pulling benchmark indices higher. S&P BSE Sensex soared 363 points or 0.69% to close at 52,950 while the NSE Nifty 50 index jumped 122 points or 0.77% to close at 15,885. Bank Nifty ended in green, jumping 0.36%. India VIX closed flat with positive bias. Midcap and smallcap indices were also seen moving higher, outperforming the benchmark indices. Titan’s share price gained 3.25% to end as the top gainer on Sensex, followed by M&M, Reliance Industries, Axis Bank, TCS, and Maruti Suzuki India. Tata Steel was down 1.66% as the worst-performing Sensex stock, followed by Bajaj Finserv, Bajaj Finance, NTPC, and Dr Reddy’s.
Read More
Highlights
Domestic benchmark indices closed with gains on Monday as bulls returned to Dalal Street. S&P BSE Sensex gained 363 points or 0.69% to end at 52,950 while the NSE Nifty 50 index jumped 122 points or 0.77% to close at 15,885. Titan’s share price gained 3.25% to end as the top gainer on Sensex, followed by M&M, Reliance Industries, Axis Bank, TCS, and Maruti Suzuki India. Tata Steel was down 1.66% as the worst-performing Sensex stock, followed by Bajaj Finserv, Bajaj Finance, NTPC, and Dr Reddy’s. Bank Nifty ended in green, jumping 0.36%. India VIX closed flat with positive bias. Midcap and smallcap indices were also seen moving higher, outperforming the benchmark indices.
Read full story
Raghav Productivity Enhancers share price surged to a record high of Rs 716,90 apiece intraday on BSE, after the industrial goods company informed that Rakesh Jhunjhunwala will invest Rs 31 crore in the company. The stock hit 5 per cent upper circuit on Monday, rising seven times or 617 per cent in less than one year.
Read full story
Domestic equity markets closed the week’s first trading session with gains. Midcap and smallcap indices outperformed the benchmark indices. Bank Nifty closed 34,710, India VIX ended flat with positive bias.
Only 7 of the 30 Sensex constituents were down in the red ahead of the day's closing bell. Tata Steel was down 1.59% as the worst Sensex performer, followed by Bajaj Finserv, Bajaj Finance, HDFC Bank, NTPC, ICICI Bank, and Dr Reddy's Laboratories.
Sensex was again above 52,900 while the Nifty 50 index soared past 15,850 mark on Monday with minutes left before the closing bell.
"Real-estate sector was up by 4% on the back of higest property registration in the month of July in Mumbai in last one decade. Recovery on the residential real estate market continues its momentum despite the restriction in Mumbai due to the covid-19 2nd wave. We have seen strong demand in last 2 quarters and the momentum continues this quarters also. Top 10 listed players continue to gain market share in top cities in India, unorganized players finding it difficult to launch new projects due to weak launch pipeline and unavailability of capital. Listed players like Godrej, Oberoi, Sobha and brigade have a good pipeline of projects to be launch in next 2 years. We expect the momentum in residential real-estate to continue this year. We have a buy call on Godrej Property with a target price of Rs 1900," said Yash Gupta Equity Research Associate, Angel Broking.
Rolex Rings, whose Rs 731-crore IPO got over 130 times subscription, is likely to finalise share allotment on Wednesday, 4 August 2021. The public issue was fully subscribed within minutes of opening. In the primary market, Rolex Rings shares were seen commanding a premium of Rs 515 over IPO price. Rolex Rings shares were trading at Rs 1,415, a premium of 57 per cent from the issue price in the grey market, according to the people who deal in shares of unlisted companies.
Read full story
"India’s Manufacturing PMI (seasonally adjusted) jumped strongly into expansionary territory in July, rising to 55.3, from 48.1 in June. We think this improvement reaffirms that a recovery is afoot, with the disruption caused by the second COVID wave only representing a speed bump during April-June. With the virus caseload remaining under relative control, we expect consumer sentiment to continue to improve in the coming weeks," said Rahul Bajoria, Chief Economist, Barclays.
Sensex and Nifty were seen trimming gains with less than an hour left before the closing bell. Sensex was just above 52,800 gaining 0.45% while Nifty was up 0.54% at 15,850.
"We have seen a sharp recovery in the property registrations in the month of July 2021 as most of the sales registered are due to the overflow of registrations from the previous quarters. Also the month of June saw the easing of curbs followed by reopening of economic activities along with a fast-paced vaccination drive which resulted in an upward trajectory of housing demand thereby boosting the homebuyer sentiments. There is still demand among the homebuyers, and we believe the numbers will see a gradual uptick if the State Government takes necessary measures to sustain the demand by reconsidering to trim the stamp duty till March 2022," said Ashok Mohanani President, NAREDCO Maharashtra.
The NSE Nifty Midcap 50 index was up 1.34% while the Nifty Smallcap 50 was up 0.90% on Monday afternoon while the benchmark Nifty 50 was trading 0.58% higher.
"IDFC First Bank reported a 34.4% YoY increase in Net interest income for Q1FY22 to Rs. 2,185 crore on the back of 10.9% YoY growth in advances while NIM’s for the quarter were up by 43bps qoq to 5.51% due to a 63bps decline in cost of funds sequentially. Other income was up by 75.1% YoY to Rs. 849 crore while operating expenses were up by 66.7% YoY. As a result pre provisioning profits were up by 12.3% YoY to Rs. 1,001 crore. Provisioning for the quarter was up by 145.9% YoY and 211.7% QoQ to Rs. 1,879 crore due to high slippage from the retail portfolio. As a result the company posted a loss of Rs. 630 crore for the quarter. Post the Q1FY22 numbers we maintain our BUY rating on IDFC First bank with a revised price target of Rs. 64 as we believe that the worst of the Covid related impact is now behind for the company," said Jyoti Roy - DVP- Equity Strategist, Angel Broking,
Rakesh Jhunjhunwala will invest Rs 31 crore in Raghav Productivity Enhancers. The company said that the ace investor will buy up to 6,00,000 unsecured compulsory convertible debentures (CCDs) worth Rs 30.9 crore.
Check live prices: Raghav Productivity Enhancers
While this MPC meeting is widely expected to be a non-event status quo, market will be keenly watching for forward guidance on future policy normalisation. In particular any RBI action on fine-tuning banking system liquidity as well as any further steps towards ongoing “orderly evolution of yield curve” will be the key determinants of interest rates going forward. Churchil Bhatt, EVP Debt Investments, Kotak Mahindra Life Insurance Company
The RBI Monetary Policy Committee (MPC) will be going into the August policy meeting with inflation exceeding the 6% upper bound. While the need to support growth will dominate the policy backdrop, some concerns are bound to be raised on the visible inflationary pressures in the near to medium term. However, the negative output gap rather than the positive inflation gap will keep the MPC’s stance and overall tone unchanged, at least, till it becomes more confident of the growth prospects.
Read full story
All Nifty sectoral indices were up with gains, except the Nifty Media index. Nifty Realty index was up 4.9%, followed by Nifty PSU Bank Index.
Titan, up 3.4% is the top Sensex gainer on Monday, followed by Mahindra & Mahindra, Axis Bank, and Reliance Industries.
Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) both increased their holdings in nearly half of Nifty 50 companies during the April-June quarter. Foreign institutions were net buyers of 27 companies or 54% of Nifty 50 stocks while domestic investors increased stake in 25 out of the 50 firms. During the April-June quarter, the Nifty 50 index gained 6%, underperforming the broader Nifty 500 index. However, on a year-to-date basis, the Nifty 50 has surged 13% so far.
Read full story
PB Fintech Ltd, the parent of Indian online insurance platform Policybazaar, has filed the draft red herring prospectus (DRHP) with capital market regulator SEBI to launch Rs 6,017.5 crore IPO. PB Fintech Ltd, Policybazaar’s parent, will issue fresh shares worth Rs 3,750 crore and an offer for sale (OFS) of shares worth Rs 2,267.5 crore. The SoftBank Group Corp.-backed startup may consider a private placement of Rs 750 crore, according to DRHP. The OFS will see sale of up to Rs 1,875 crore worth of shares by SVF Python II (Cayman) and up to Rs 392.50 crore by others.
Read full story
Short build up in the Nifty and Bank Nifty Futures, Call writing at 15800-15900 levels and long unwinding by FIIs in the Index futures segment Indicates that one should remain cautious for the markets. Therefore, our advice is to use any rally to prune long positions and wait for Nifty to close above 15900 levels for building aggressive long positions. On the lower side 15700-15750 level will act as immediate support where Puts have been written.
~ HDFC Securities
India VIX, the volatility gauge was up 1.54% on Monday while benchmark indices soared higher.
Paying home loan EMIs is a long-term commitment as it may span anywhere between 10 and 30 years. The financial situation of the borrower may see a huge change over the years. So, it’s always better to keep flexibility while entering into a contract with the lender. Your aim should be to complete the loan as early as possible through prepayments but still scout for EMI paying options while selecting the lender.
Read full story
Krsnaa Diagnostics Rs 1,213-crore IPO will open for subscription on Wednesday, 4 August 2021, at a price band of Rs 933-954 per share of face value of Rs 5 each. The public issue comprises a fresh issue of shares worth Rs 400 crore and an offer for sale (OFS) of up to 85.25 lakh equity shares by existing selling shareholders.
Read full story
Zomato’s share price continues to gain as it enters the second week of trade since its blockbuster listing on the stock exchanges. Valuations might be considered freakishly high by some but analysts at global brokerage and research firm Jefferies are taking none of it as the brokerage firm initiates coverage of Zomato with a ‘buy’ rating and a target price of Rs 170 per share. “Valuation for Zomato at c.15x FY23 EV/gross sales compares with 2-12x for regional/global peers, which has to be viewed in the context of a longer growth runway, premium enjoyed by Indian stocks across consumption categories & scarcity premium,” Jefferies said in a report.
Read full story
After slipping into contraction for the first time in 11 months during June, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) moved back above the critical 50.0 threshold in July. The headline figure was up from 48.1 to 55.3, pointing to the strongest rate of growth in three months.
Bank Nifty was up 0.57% on Monday, sitting at 34,782 points. Bandhan Bank, Axis Bank, and PNB were the top gainers.
"The index has opened with a hearty enthusiasm this morning and is trading closer to the 15900 level. This has happened multiple times and it always ends up retracing from there. If the markets can manage a close above 15960-15970 (which was the high of July 16th), we can break out of the current range and aim at achieving 16200. The current support for the Nifty has been upgraded to 15700 so until we do not break that on a closing basis, we are in bullish terrain," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
Glenmark Life Sciences is likely to finalise the IPO share allotment on Tuesday, 3 August 2021. The Rs 1,513.6-crore public issue was subscribed 44.17 times, and was sold at a price band of Rs 695-720 per share. In the primary market on Monday, Glenmark Life Sciences shares were quoting at a premium of Rs 100. The shares were seen trading at Rs 820 apiece, a 14 per cent premium over IPO price, according to the people who deal in shares of unlisted companies.
Read full story
Commodity prices traded higher with most of the commodities in non-agro segment ended in green for the week supported by weaker dollar. Bullion prices gained on dovish FED while crude oil prices rallied on string demand outlook. Base metals traded higher on lower supply concerns and fall in dollar.
Read full story
Maruti Suzuki India, Axis Bank, Titan, and Infosys were some of the top gainers on Sensex during the initial minutes of trade.
Domestic stock markets started Monday's trading session with gains. Broader markets mirrored benchmark indices. India VIX was up in the green.
Sensex has ended the pre-open session just above 52,900 while the Nifty 50 has regained 15,800.
Sensex and Nifty were up in the green during the pre-open session on Monday morning. Nifty regained 15,800 while Sensex was just below 53,000.
"Nifty is expected to open with a gap up of 120 points at 15880, the next level to watch for nifty is 15900 above which nifty can head to 15950. Nifty has support at 15700 and 15730 levels. Nifty has been trading in a range since last month and a breakout with higher than average volume will decide the next direction for it. Fresh longs are suggested on closing above 16000," said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.
US markets pulled back on Friday last week with the Dow Jones closing a shade below 35,000 mark. This has made a Doji structure on the major US Indices on weekly basis making the setup indecisive. Nikkei 225 is leading the recovery in Asia up by 1.5%.
SGX Nifty surged higher in trade, gaining 119 points or 0.75 per cent at 15,893 on Singaporean Exchange. BSE Sensex and Nifty are set to a gap-up opening on Monday, following a week of losses. Last week, the 30-share BSE benchmark dipped 388.96 points or 0.73 per cent. A host of factors such as macroeconomic data, quarterly earnings, RBI MPC, pace of vaccination, auto sales numbers, the progress of monsoon, COVID-19 trends and other global trends will be keenly watched.
Read full story
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel have now been left untouched by oil marketing companies for the sixteenth consecutive day. Today, petrol in the national capital costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4, now sitting at all-time highs. The price of petrol in Delhi has increased by Rs 11.15, while diesel price has surged Rs 10.80 per litre since the rates started increasing more than 2 months back. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
Read full story
Punjab National Bank (PNB), Varun Beverages, Housing Development Finance Corporation, Emami, Castrol India, Carborundum Universal, RBL Bank, CG Power and Industrial Solutions, Balaji Amines, Shree Renuka Sugars, Capri Global Capital, Orient Cement, Kalyani Steels and Nahar Spinning Mills, others will announce their quarterly earnings on 2nd August.
Read full story
"Markets have been consolidating in a range i.e. 15,450-15,900 for the last two months and the trend may endure until we see alignment between Nifty and the banking index. While index majors from other sectors are helping the index to hold at higher levels, participation of the banking pack is critical for any sustainable directional move. Meanwhile, we reiterate our view to focus on themes that are currently playing out well and select stocks accordingly," said Ajit Mishra, VP Research. Religare Broking