India VIX was down 2% on the closing bell. (Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets started the day flat with negative bias but bulls asserted control as the day progressed, forcing headline indices to surge higher. S&P BSE Sensex closed 445 points or 0.75% higher at 59,744 while the 50-stock NSE Nifty jumped 131 points or 0.74% to end at 17,822. Bank Nifty gained 0.43% to close at 37,741. Broader markets mirrored the up-move. India VIX was down 2% on the closing bell. IndusInd Bank soared 5% to end as the top Sensex gainer, followed by Bharti Airtel, HCL Technologies, and Reliance Industries. Down in the red, Sun Pharma dropped 1.33% as the worst-performing Sensex stock, followed by ITC, Power Grid, and Ultratech Cement.
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Highlights
Domestic equity markets continued to move higher for the second day straight on Tuesday. S&P BSE Sensex and NSE Nifty 50 opened flat with negative bias but staged a smart recovery each ending 0.75% higher at the end of the day’s trade. Sensex settled at 59,744 while Nifty 50 closed at 17,822. Bank Nifty gained 0.43% to close at 37,741. IndusInd Bank soared 5% to end as the top Sensex gainer, followed by Bharti Airtel, HCL Technologies, and Reliance Industries. Sun Pharma dropped 1.33% as the worst-performing Sensex stock, followed by ITC, and Power Grid. Chartists believe bulls will continue to control Dalal Street in the coming sessions.
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Domestic benchmark indices staged a recovery after opening with losses to close with gains for the second day straight. Broader markets mirrored up-move. Bank Nifty ended above 37,700.
Bharti Airtel-Rights Entitlement (Bharti Airtel-RE) share price rallied 40 per cent on day one of listing. On Tuesday, Bharti Airtel-RE shares were trading 39.97 per cent higher at Rs 204.50 on BSE. The value of the RE shares is more or less close to the spread between the company’s share price and the offer price of the rights issue. The actual traded price may differ depending upon the demand. In case of Bharti Airtel RE, a rights share has been offered at Rs 535 and the market price of Bharti Airtel (last close) is Rs 681.10. This means the value of RE is Rs 146.
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Sensex was above 59,700 mark while Nifty 50 was comfortably above 17,800 with minutes left before the closing bell on Tuesday.
Facebook stock price tanked nearly 5% on Monday, extending losses to 15% in the last one month. Other technology stocks mirrored the fall with Amazon falling nearly 3%, followed by Apple, Microsoft, and Google. The fall in Facebook’s stock price erased more than $6 billion of Mark Zuckerberg’s wealth while Amazon’s stock price falling resulted in Jeff Bezos becoming poorer by $4.83 billion in one day. Technology stocks were under pressure on Wall Street as investors gauged concerns around higher inflation and higher interest rates.
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Bank Nifty was up 0.39% on Tuesday, rebounding from intra-day lows. The banking index was above 37,700, helped by IndusInd Bank's 3.88% up-move.
Sensex and Nifty continue to extend gains on Tuesday. Nifty was above 17,800 while Sensex breached 59,500.
So investors need to be more vigilant now a days as several IPOs are coming at a higher band of valuations. Investors should look at the valuations of the IPO and compare those with the listed peers. Retail investors should use ratios like P.E(Price to Earning) and EV/EBITDA (Enterprise Value to Earnings Before Interest Depreciation And Taxes). This will help investors to apply for a good IPO which can generate good listing gains as well as long-term gains. We are expecting another full of action month from the point of view of IPO, we expect some digital players like Nykaa (IPO size 4,000 Crores), Mobikwik (IPO size 1,900Crores), and Ixigo (IPO size 1,600 Crores) to launch their IPO in the month of October 2021. Along with this, IPOs like Star Health And Allied Insurance Co. Ltd, Arohan Financials, Emcure Pharmaceuticals, and many more are also expected to come up with their IPO in the month of October 2021. Yash Gupta, Equity Research Analyst, Angel One
IPO market buzzing, latest IPO like Paras Defence getting a subscription of more than 304 times and given a listing gain of more than 185% to investors. In recent time we have seen a mixed bag of listing gain, some of the IPO has given positive listing gain like Ami Organics Limited (+53%), Vijaya Diagnostic CentreLimited (+16.63%) while some IPO has given negative listing gains also like NuvocoVistas Corporation Ltd IPO (-7%), CarTrade Tech Limited IPO (-7%). Yash Gupta, Equity Research Analyst, Angel One
Sun Pharma was down 1% as the top Sensex drag on Tuesday. The pharma major was followed by ICICI Bank, Dr Reddy's, ITC, and Ultratech Cement.
As many as thirteen companies are sitting with approvals from the capital markets regulator (SEBI) for their IPOs (initial public offering), which could result in over Rs 13,000 worth of inflows into the primary market. Go Airlines, Pradeep Phosphates, and Fincare Small Finance Bank are some of the companies that could soon come with the public issues, according to a note by Axis Capital. So far this financial year, twenty-four companies have successfully made their stock exchange debuts. Of these, only 6 are trading with losses while others have helped investors pockets healthy returns.
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Nifty trimmed losses and turned positive on Tuesday morning, after the initial hour of trade. Nifty was nearing 17700.
Srei Infrastructure Finance shares tanked 5% to hit the lower circuit on Tuesday after the Reserve Bank of India superseded the board of directors of two of its group companies yesterday.
Gold prices fell in India on Tuesday, following global rates a US dollar edged higher. On Multi Commodity Exchange, gold December futures were down Rs 105 or 0.22 per cent to Rs 46,782 per 10 gram, as against the previous close of Rs 46,887. Silver December futures were also down Rs 300 or 0.5 per cent to Rs 60,657 per kg. On Monday, silver futures ended at Rs 60,953 per kg. Globally, lingering inflation concerns kept bullion close to a more than one-week peak hit in the previous session, according to Reuters.
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Bharti Airtel was the top Sensex gainer on Tuesday, jumping 1.86%. Airtel was followed by Power Grid, Maruti Suzuki India, and Asian Paints.
"On the technical front, key support levels for Nifty 50 is 17,600 level and a can face good resistance at 17.815 levels," said Mohit Nigam, Head - PMS, Hem Securities.
Domestic benchmark indices started Tuesday’s trading session flat with a negative bias amid weak global cues. Bank Nifty was down 0.43%.
Sensex was trading flat with a positive bias on Tuesday, after having given up almost all gains during Tuesday's pre-open session. Nifty was down in red.
Sensex and Nifty were sitting with gains on Tuesday's pre-open session. Nifty was above 17700 and the Sensex was near 59,500.
Nifty futures were trading 115 points or 0.65 per cent down at 17,595.50 on Singaporean Exchange, indicating a sell-off in BSE Sensex and Nifty 50 on Tuesday. Domestic cues remain positive as economic activities gain further momentum, but the elevated valuations along with multiple global concerns would keep markets volatile, said an analyst. RBI monetary policy and TCS second-quarter results due on 8th October (Friday) are the two key events which will be widely tracked.
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"Nifty is expected to open Negative at 17600, down by 100 points. Nifty has support in 17450-17480 and resistance in 17750-17800 range. Traders can consider buy on dips with strict stoploss for targets of 17750 for the next few trading sessions," said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of petrol were hiked by oil marketing companies once again on Tuesday, after a one-day hiatus. Petrol in the national capital today costs Rs 102.64 per litre, up 25 paise since yesterday while diesel in the capital city is retailing at Rs 91.07 per litre, an increase of 30 paise. Petrol and diesel rates have increased 4 times so far in October. 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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Domestic equity market benchmarks BSE Sensex and Nifty 50 were once again staring at a gap-down opening on Tuesday, as suggested by SGX Nifty. In the previous session, headline indices snapped the losing streak, recouping half of the last week’s losses, to end one per cent higher. S&P BSE Sensex gained 533 points to 0.91% to end at 59,299 while the Nifty 50 index jumped 159.20 points or 0.91% and settled at 17,691.
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"Domestic cues remain positive as economic activities gain further momentum but the elevated valuations along with multiple global concerns would keep markets volatile. RBI credit policy and TCS quarterly results due on 8th September (Friday) are the two key events which will be widely tracked. RBI is expected to maintain its policy rates but it may lay the roadmap for stimulus tapering in line with other central banks. TCS would mark the start of Q3FY22 earnings season which is expected to continue the strong earnings momentum," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
The Reserve Bank of India (RBI) on Monday said that it has superseded the boards of Kolkata-based non-banking financial companies (NBFCs) Srei Infrastructure Finance and Srei Equipment Finance. The two companies will now be referred for insolvency proceedings in the second such instance after Dewan Housing Finance (DHFL).
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