Barring Nifty Pharma and Nifty Healthcare indices, all the sectoral indices were trading with the gains. Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 have posted record highs on the weekly F&O expiry day. BSE Sensex surged 318.05 points or 0.58 per cent to end at 54,843.98. NSE’s Nifty rallied 82 points or 0.5 per cent to settle at 16,364. Power Grid Corporation of India share was the top Sensex gainer, rising over 6 per cent. It was followed by Tech Mahindra, HCL Tech, Titan Company, L&T, NTPC, ICICI Bank, Bajaj-Auto, and Tata Steel. On the contrary, Dr. Reddy’s, Axis Bank, RIL, M&M, SBI shares were top index laggards. Barring Nifty Pharma and Nifty Healthcare indices, all the sectoral indices ended in the green. Nifty Bank index gained 0.36 per cent at 35,937.
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BSE Sensex surged 318.05 points or 0.58 per cent to end at 54,843.98. NSE's Nifty rallied 82 points or 0.5 per cent to settle at 16,364
Domestic benchmark indices have scaled fresh highs repeatedly in the last few trading session but broader markets have corrected. Going stock specific in the hunt for returns, domestic brokerage and research frim ICICI Direct has filtered two stocks that could hand investors nearly 20% returns in the next three months. The brokerage firm has filtered stocks using its three-factor stock filtration model, selecting scrips based on pickup in delivery, historic volatility and historic stock buying patterns out of the Futures & Options universe.
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Hester Bioscience reported top line growth of 50% at ₹585 crores from ₹288 crores on back of strong performance of Poultry Healthcare division which is up by 61%to ₹481 crores while Animal Healthcare up by 16% to ₹104 crores. Net profit has increased from ₹76 crores to ₹122 crores up by 60% in Q1FY2022. Heaster bioscience reported a very good set of numbers, top line up by 50% and bottom line up by 60% along with this company reported healthy EBITDA margin of 31.02%. Company's project to build capacity to manufacture a Drug Substance for Covaxin is going as per the timeline. We have a positive view on Hester Bioscience ltd. Yash Gupta Equity Research Associate, Angel Broking Ltd
Edelweiss Wealth Management on Thursday said it is targeting to raise USD 1 billion through a pre-IPO and late-stage private equity fund. The city-based company, which launched the ‘Edelweiss Crossover Opportunities Fund’ in March this year, has already raised USD 500 million across its first three series, it said in a statement. It announced the launch of ‘Series IIIA’ with a target to raise another USD 200 million under the same strategy, it said.
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Indian benchmark continues to trade positively after the bounce back from the support level of 16200. 16350-16370 is acting as a resistance zone in the market. The sentiments in the domestic and the global market remains positive, and all sectors have been trading with positivity. Sentiments were positive as the Centre withdrew retrospective tax amendments. This is a setback for the government, but the market has taken it well and it will help the big global conglomerates to show interest in the domestic market. Our research suggests that if the market breaches the resistance zone of 16350-16370, we can expect the market to achieve the new level of 16480-16500. Gaurav Garg, Head of Research, CapitalVia Global Research
Sensex jumped more than 300 points on Thursday as bulls asserted control on Dalal Street. The index is comfortably above 54,800.
Promoters of listed companies continued to cut pledged shareholdings in the first quarter of the current financial year. Data sourced by domestic brokerage and research firm Kotak Securities showed that the value of pledged promoter holdings as a percentage of the value of total promoter holdings fell to 1.61% in the April-June quarter from 1.64% in the January-March quarter. The April-June quarter was the second consecutive quarter with no BSE 500 company having more than 90% of its promoter holdings pledged.
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Bank Nifty rose 0.22 per cent to 35,959.25, while Nifty Pharma fell 0.78 per cent
ICICI Bank, Infosys, L&T, Tech Mahindra and Power Grid Corporation of India were top Sensex contributors
BSE Sensex hit a fresh all-time high of 54,793, while the Nifty 50 index surged to a new record high of 16,360
Krsnaa Diagnostics, whose IPO saw 64.40 times subscription, is likely to finalise the share allotment on Thursday, 12 August 2021. In the primary market, shares of diagnostic service provider were quoting at a premium of Rs 280, over the IPO price. The issue was sold in a price range of Rs 933-954 per share. Krsnaa Diagnostics shares were trading at Rs 1,234 apiece, a premium of 29.35 per cent over the issue price, according to the people who deal in unlisted shares of the companies.
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Chemplast Sanmar’s IPO remains undersubscribed so far on the last day of subscription. Investors have so far placed bids for only 33% of the entire IPO. Chemplast Sanmar is looking to raise Rs 3,850 crore through the IPO, offering shares in the fixed price band of Rs 530-541 per equity share of face value Rs 5. Investors can bid for the issue till Thursday evening in a bid lot of 27 shares and multiples thereafter. Chemplast Sanmar is a specialty chemicals manufacturer with a focus on specialty paste PVC resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors.
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Engines and related parts maker Cummins India has reported more than three-fold increase in its standalone profit after tax (PAT) at Rs 66.76 crore in three months to June, driven by higher domestic and exports sales. The Pune-based company had posted a standalone PAT of Rs 17.89 crore in the June quarter of FY21, according to a regulatory filing.
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Lupin’s Q1 EBITDA was ~25% below our estimate, primarily due to subdued US sales (-12% QoQ) and consequent weakness in margins resulting in a sharp decline of EBITDA margin to 14.2% (-450bps QoQ). While the company has delivered improvement in margins over the past few quarters, significant price erosion in the US impacted the current quarter’s margins and the structural cost savings alluded by the management remain elusive. Lupin has revised its full-year margin guidance of 19-20% down to 16%/17% in FY22. It expects US growth to pick up from 2HFY22 on the back of ramp-up in Albuterol and Brovana AG. We acknowledge that its pipeline has meaningful opportunities such as gSpiriva and gRevlimid, which could drive healthy growth in FY23; however, despite factoring these in, we see limited upside. Hence, we reduce our estimates by 17%/15% for FY22/23e to factor in lower US sales and margins. Our revised TP is Rs 1,040. Downgrade to REDUCE.
~ HDFC Securities
Weak US Core CPI numbers supported the Gold prices yesterday and it rose to 1%. Silver also traded positive and it gained 0.25%. Gold has resistance at 46500 above this level prices are likely to recover towards 46800 levels. It has support at 46000. Prices of Silver is looking firm at this level and it may bounce back towards 63500 levels. It has support at 62000. Abhishek Chauhan Business Head Commodities Currency Swastika Investmart
The market is once again trading above the 16300 level. If we can close above this, we should be headed to 16600 as the next target level. Since the trend is positive, traders should focus on accumulating long positions on dips and/or intra day corrections. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
COMEX gold trades marginally lower near $1751/oz after a 1.2% gain yesterday. Gold is supported by a retreat in the US dollar index from recent highs, persisting virus concerns and concerns about the health of Chinese economy. However, weighing on price is firmness in equities, lack of ETF buying and some hawkish comments from Fed officials. Gold has bounced back from recent lows however optimism about the US economy may keep the US dollar supported and this may limit any major upside. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading lower in India on Thursday, as global rates remained steady. On Multi Commodity Exchange, gold October futures were trading Rs 42 down at Rs 46,346 per 10 gram, as against the last close of Rs 46,388. Silver September futures were ruling at Rs 62,577 per kg, down Rs 194. In the previous session, silver futures shut shop at Rs 62,771 per kg.
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To support export activity, Commerce Secretary said that the government will notify Remission of RoDTEP rates probably by this Friday. Similarly, the RoSCTL scheme for textiles will be notified shortly. This could be a huge relief for many exporters who were waiting long for it to get clear. Moving forward, the USDINR pair is likely to further squeeze down its momentum in a range of 74.10-74.90 with an immediate resistance of 74.50. The RBI and importers both got another chance to cover the dollar at lower levels. However, this could be an opportunity for exporters too as they could preutilize their forwards. Overall, we are expecting that USDINR should trade further in a sideways range before giving a breakout. The focus turns towards today’s domestic CPI and IIP figures. Amit Pabari, MD, CR Forex Advisors
Nifty has strong resistance at 16350 and strong support in 16150-16200 range. On closing above 16350 on Nifty with good volumes it can see 16450-16500 levels. The trend in Nifty remains bullish as long as it trades above 15900 level. Gaurav Udani, Founder & CEO, ThincRedBlu Securities
Global equity markets have positive news from the US inflation data for July which has come at 0.5% month on month. This is slightly lower than expected and confirms the Fed thesis that inflation is transitory. The positive response of Dow and S&P to the inflation numbers and the decline in the Dollar index will strengthen the bulls. However, investors should exercise caution in this exuberant bull market since valuations are stretched and risks are rising. Healthy development in the market is the steady removal of froth in the mid-and small-cap segments which are down 3.5% and 6% respectively from their peaks. At the same time, the return of quality like HDFC twins, Kotak Bank, Bharti, and RIL bode well for the market health. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Barring Nifty Pharma and Nifty Healthcare indices, all the sectoral indices were trading with the gains
Dr Reddy's, Sun Pharma, Hindustan Unilever Ltd (HUL), Asian Paints, IndusInd Bank were among top index laggards
Power Grid Corporation of India, ITC, M&M, Bajaj Finance, ICICI Bank, Bajaj-Auto, HDFC Bank were top Sensex gainers
BSE Sensex up 150 points at 54,680, while the Nifty 50 index reclaimed 16,300 on Thursday
BSE Sensex up 134 points at 54,660, while Nifty 50 index fell to 16,240 in pre-open on Thursday
In the current Nifty series, there has been a Long Addition witnessed with an increase in price of 3.02% and increase in OI by 39% as on Wednesday wherein there was addition of 41.19 lakh shares in OI, increasing from 88.24 lakh to 136.43 lakh shares. Nifty August rollover stands at 10.41% as of Wednesday.
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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Oil marketing companies have left the price of petrol and diesel untouched today for the 26th 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 rates were first hiked more than 3 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.
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BSE-listed companies such as Tata Steel, Eicher Motors, Hero MotoCorp, Aurobindo Pharma, BPCL, Oil India, Ashok Leyland, Bharat Forge, Ansal Properties & Infrastructure, Apollo Micro Systems, Ashapura Minechem, Avanti Feeds, Clariant Chemicals (India), Dishman Carbogen Amcis, Dish TV India, Engineers India, Finolex Cables, Gujarat Pipavav Port, GR Infraprojects, HCC, HealthCare Global Enterprises, HUDCO, Ind-Swift Laboratories, IRCON International, IRCTC, Max India, Mazagon Dock Shipbuilders, Mishra Dhatu Nigam, RailTel Corporation of India, RCF, RITES, Sadbhav Infrastructure Project, Suryoday Small Finance Bank, Thyrocare Technologies will release Apr-Jun quarter earnings on August 12.
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The Nifty continues to consolidate in a range for the last few sessions after breaking out of the 15451-15962 trading range last week. On the daily chart, the Nifty continues to hold above a rising trend line that has held the important lows of the last few months. The index also continues to trade above the 20 and 50 day SMA.
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Today is the last day to subscribe to Chemplast Sanmar and Aptus Value Housing Finance IPOs. Chemplast Sanmar was subscribed 26 per cent, while Aptus Value Housing Finance issue saw 37 per cent subscription on the second day of the bidding process. Aptus Value Housing entirely an offer for sale by selling shareholders.
In the overnight trade on Wall Street, the Dow Jones Industrial Average rose 0.63 per cent, the S&P 500 gained 0.25 per cent, while the Nasdaq Composite dropped 0.16 per cent
Asian stock markets surged higher as Wall Street notched a record high. Japan’s Nikkei 225 rose over half a per cent, while the Topix was up 0.73 per cent. In South Korea, the Kospi gained marginally.
Dalal Street benchmark indices closed flat on Wednesday, a day after hitting fresh all-time highs. On the closing bell, S&P BSE Sensex was down 28 points at 54,526 while the Nifty 50 was up 2 points at 16,282. Broader markets ended with losses, except Nifty Midcap 50, which was up 0.26%. SGX Nifty was up in the green as it enters the expiry session, hinting at positive momentum building up ahead of the opening bell.
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