India VIX was trading flat with negative bias.
(Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices claimed new all-time highs on Thursday’s opening bell. Sensex touched 54,576 while Nifty 50 crossed 16,290. Minutes into the day’s trade both the benchmark indices were seen trimming gains to trade flat with a positive bias. Bank Nifty was down in the red, falling 0.23% to give up 36,000 mark. Midcap and smallcap indices underperformed and traded with losses. India VIX was in the red. Bharti Airtel was up 2.8% as the top Sensex gainer, followed by Tech Mahindra, Asian Paints, Nestle India, and Reliance Industries. IndusInd Bank was the top Sensex drag, falling 1.8%, followed by ICICI Bank, HDFC, Maruti Suzuki India, and Titan.
IPOs of Devyani International, Windlas Biotech, Krsnaa Diagnostics, and Exxaro Tiles were oversubscribed on the first day of bidding. Devyani International’s IPO was subscribed 2.69 times by investors with retail investors bidding for their portion 11.37 times. Windlas Biotech IPO was subscribed 3.18 times at the end of the day. Retail investors have bid for the issue 6.22 times. Krnaa Diagnostics’ IPO was subscribed 1.98 times on day one, retail investors have so far bid for their portion 9.59 times. Exxaro Tiles issue was subscribed 4.67 times. All the four IPOs will remain open for subscription till Friday evening.
Highlights
"Bank Nifty broke out yesterday with a huge spin in volumes but no major change in both Nifty and Bank Nifty OI. Open Interest concentration now at 16,200 and 16,300. Bank Nifty saw good put writing across strikes. Short-covering seen in HDFC Bank while SBI witnessed fresh longs. For the day, support is at 16,210 while resistance is at 16,285. Bank Nifty can see more upside is 36,000 is sustained," said Rahul Sharma, Director & Head - Research, JM Financial.
Gold gave up yesterday's gain of 1% as investors jitter on the expected hawkish FED outlook. Fed's Clarida said he can certainly see FED announcing tapering later this year. In Comex Gold slipped 25$ and traded near the 1810$ during US market hours. Silver also fell 1$ and reached at the level of 25.40$. In MCX, Gold has support at 47700 below this level selling pressure may get momentum towards 47200 levels. It has immediate resistance at 48100. Silver has support at 67000 below this level it may test previous week's low level of 66000. Abhishek Chauhan, Head Commodities and Currency, Swastika Investmart
Vodafone Idea share price tumbled over 24 per cent to Rs 4.55 apiece, a 52-week low, on BSE, after the telecom company announced that Kumar Mangalam Birla will step down as non-executive director and non-executive chairman. These changes have come into effect from the close of business hours on 4 August 2021.
Read full story
The call for a relief package for the telecom industry grew louder on Wednesday with Bharti Airtel saying that the financially stressed sector needs the government’s help and efforts should be made to ensure that three private sector players remain in the market.
Read full story
Aptus Value Housing Finance India IPO will open for subscription next week on August 10, as the company looks to raise Rs 2,780 crore from the primary market. The price band of the issue has been fixed at Rs 346-353 per share of face value Rs 2. Aptus’ issue will be a mix of an offer for sale (OFS) by existing shareholders, including a promoter of the company, and a fresh issue of equity shares. Aptus Value Housing Finance is an entirely retail focussed housing finance company primarily serving low and middle-income self-employed customers in the rural and semi-urban markets of India.
Read full story
"A major factor favoring the rally is the improving macros as reflected by buoyant tax collections, falling fiscal deficit, low CAD, ample forex reserves, expanding PMI, booming exports, and softening crude. Business micros will improve under such a benign macro environment assisted by lower tax and low-interest costs. Markets might be factoring in this emerging promising scenario. The return of FIIs with buying of Rs 4946 cr in cash market during the last two days is bad news for the bears. An important feature of yesterday's market action is that while Nifty gained 128 points thanks to the rally in leading financials, the broader market underperformed. Markets may consolidate for a while before making fresh moves in response to emerging triggers," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Chemplast Sanmar Rs 3,850-crore will open for subscription on Tuesday, 10 August 2021, at a price band of Rs 530-541 per share of face value of Rs 5 each. The company is eyeing stock market listing, after it got delisted nearly a decade ago. Specialty chemicals manufacturer public issue will close on Thursday, 12 August. The offer comprises fresh issue shares worth Rs 1,300 crore and an offer for sale (OFS) of up to shares worth Rs 2,550 crore by promoters.
Read full story
Down from opening highs, Sensex and Nifty were trading flat with a positive bias on Thursday morning. Sensex opened above 54,500 while Nifty crossed 16,290 earlier in the day.
"The consolidation that had ensued through the day, after the initial spurt yesterday, suggest bullish exhaustion, especially given the negative divergence in weekly charts. But, patterns remain accommodative towards achieving the 16350 that we have been eying in the last few days. Alternatively, persistent inability to float above 16245 today would have to be considered as a depletion in upside momentum, raising the chances of slippages to 16140-16030," said Anand James, Chief Market Strategist at Geojit Financial Services.
Domestic equity benchmark indices began Thursday’s trading session in the green, setting fresh all-time highs. Bank Nifty was down in the red.
Sensex and Nifty were looking poised for a positive start to the day's trade as Sensex sat above 54,500 during the pre-open session while Nifty 50 was above all-time highs.
Sensex and Nifty soared higher during the pre-open session on Thursday. Nifty crossed 16,300 while Sensex was above 54,600.
"If we can get past 16300, the next target for the Nifty should be 16600. The new support for the market is at 15700 and hence any dip or intraday correction can be used to accumulate long positions for higher targets," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
"Nifty is expected to open flat at 16270, 11 points above yesterday's close. Nifty has been rising for the last 5 days. We may see some intraday corrections to 16200 levels which will act as strong support. Nifty may see 16400 and 16450 levels in the coming days," said Gaurav Udani, Founder & CEO, ThincRedBlu Securities.
KM Birla has stepped down as the non-executive chairman of financially-troubled Vodafone Idea, the company said in a regulatory filing on Wednesday. “The board of directors of Vodafone Idea, at its meeting held today (Wednesday), have accepted the request of Kumar Mangalam Birla to step down as non-executive director and non-executive chairman of the board with effect from close of business hours on August 4, 2021,” the filing said.
Read full story
"The reiteration of positive bias above 15960 (from 2nd August) has benefited as Nifty almost achieved its target of 16300 . The underlying trend remaining up as the index formed higher lows along with increased in index PCR OI , indicating trader sentiment is bullish and fresh put writing was seen at strike price 16200-16150 , Combined with a fall in the option price and IV, it indicates that put writing has happened at these strikes implying immediate support at these levels for the near term. Further upsides are likely once the immediate resistances of 16310 are taken out," said Raushan Kumar, Derivative Analyst, IIFL Securities.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Petrol and Diesel prices have been left untouched by oil marketing companies for the nineteenth 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
Nifty Put options OI distribution shows that 16,000 has highest OI concentration followed by 15,900 and 16,200 which may act as support for current expiry and on the Call front 16,300 followed by 16,400 & 16,500 witnessed significant OI concentration and may act as resistance for current expiry.
Read full story
NSE Nifty 50 may trade in the 16,100-16,400 range today on weekly futures & options expiry, while 36,000 will act as an important level for Bank Nifty. On Wednesday, Nifty logged fresh all-time high of 16,290.20 and ended the day at a record closing high of 16,258.80. Analysts expect some volatility on expiry day and advise investors to trade cautiously on Thursday. The overall trading range for Bank Nifty is expected to be between 35,000-36,500, said analysts. India VIX, the volatility gauge, cooled-off 3.89 per cent to 13.21 levels on Wednesday.
Read full story
Over 100 companies BSE-listed companies such as Adani Transmission, Cipla, GAIL (India), Gujarat Gas, Honeywell Automation, Adani Power, REC, Aditya Capital, Ipca Labs, Tata Chemicals, KIOCL, Escorts, Thermax, Quess Corp, Indiabulls Housing Finance, Birla Corp and Narayana Hrudayalaya, will announce their quarterly earnings today.
Read full story
"Since the Nifty has almost tested the immediate target of 16,300, we may see a pause in the following session. However, the recent buoyancy in banking and financials would help the index to maintain the positive bias. At the same time, the profit taking in the other sectors and broader indices demands extra caution in the selection of stocks. We advise aligning positions accordingly," said Ajit Mishra, VP - Research, Religare Broking.
After showing a massive upside breakout of the range at 15960 levels on Tuesday, Nifty shifted into a follow through upmove on Wednesday and closed the day higher by 128 points. After opening on an upside gap of 65 points, Nifty shifted into a further upmove in the early-mid part of the session. A new all time high was registered at 16290 levels and later shifted into a range movement with minor profit booking from the highs.
Read full story
"Nifty rose with another gap up reflecting the pent up demand in index heavyweights. Advance decline ratio however has turned very negative despite Nifty being up, suggesting profit-taking in the broader markets. With other markets doing well, Nifty could continue to remain steady/up, while the broader market correction could continue for a few sessions," said Deepak Jasani, Head of Retail Research, HDFC Securities.
SGX Nifty was up in the green. With Nifty Futures trading in the green, domestic equities may open with a positive bias.
The IPOs of Devyani International, Krsnaa Diagnostics, Windlas Biotech, and Exxaro Tiles were oversubscribed on day one. Retail investors have bid for all four IPOs in massive numbers.