Business News›Markets›Stocks›Live Blog›Stock Market LIVE Updates: Sensex around 59,500, Nifty tops 17,600; IT, FMCG drag; Realty, PSU, Metal stocks shine; IPCA Labs plunges 9%, Bharat Forge gains 3%
LIVE BLOG
Economic Times | 12 Aug, 2022 | 11:51AM IST
Stock Market LIVE Updates: Sensex around 59,500, Nifty tops 17,600; IT, FMCG drag; Realty, PSU, Metal stocks shine; IPCA Labs plunges 9%, Bharat Forge gains 3%
Sensex Today Live Updates: Indian shares edged lower in early trade on Friday, as technology and automobile stocks declined amid weakness in other Asian markets, while investors awaited domestic inflation data.
Nifty's IT index, which firmed up 1.79% on Thursday, declined 0.51%, while the auto index fell 0.24%.
Market participants are awaiting the Consumer Price Index (CPI) data due later in the day. A Reuters poll showed India's retail inflation likely eased in July due to a fall in food and fuel prices but stayed well above the Reserve Bank of India's upper tolerance limit of 6% for a seventh consecutive month.
Broader Asian equities tracked Wall Street's overnight weakness as investors were jittery over uncertainty around the pace of interest rate hikes by the Federal Reserve to tackle inflation despite some softness last month.
Nifty's IT index, which firmed up 1.79% on Thursday, declined 0.51%, while the auto index fell 0.24%.
Market participants are awaiting the Consumer Price Index (CPI) data due later in the day. A Reuters poll showed India's retail inflation likely eased in July due to a fall in food and fuel prices but stayed well above the Reserve Bank of India's upper tolerance limit of 6% for a seventh consecutive month.
Broader Asian equities tracked Wall Street's overnight weakness as investors were jittery over uncertainty around the pace of interest rate hikes by the Federal Reserve to tackle inflation despite some softness last month.
!1 New UpdateClick here for latest updates
Oil and gas stocks surge; MRPL up 8%, IGL up 6%; Nifty Oil & Gas index up 1.8%
Price as on 12 Aug, 2022 11:50 AM, Click on company names for their live prices.
UK economy shrank 0.1% in Q2 from previous quarter
SIAM July 2022 Data (YoY)| Domestic sales at 17,06,545 units vs 15,42,716 units YoY. Passenger Vehicle sales at 2,93,865 units vs 2,64,442 units
#Motown | SIAM July 2022 Data (YoY) -Domestic sales at 17,06,545 units vs 15,42,716 units YoY -Passenger Vehicle s… https://t.co/0T6SnFJsBq
— ET NOW (@ETNOWlive) 1660282894000Apollo Hospitals Enterprise reported a 35.33 per cent decline in consolidated net profit at Rs 323.78 crore in the first quarter of FY23 amid higher expenses and marginal revenue growth. The company had posted a consolidated net profit of Rs 500.68 crore in the same period last fiscal.
Price as on 12 Aug, 2022 11:25 AM, Click on company names for their live prices.
Page Industries has reported a multi-fold increase in its net profit at Rs 207.03 crore for the quarter ended June 2022. The company had posted a net profit of Rs 10.94 crore during the April-June period a year ago.
Price as on 12 Aug, 2022 11:10 AM, Click on company names for their live prices.
5 investing basics that may help you digest volatility in the stock market
Volatility and stock markets go hand in hand as share prices move up one day and down the next day. For long-term investors, especially newbies trying their luck in the market, it can be quite a nerve-racking experience seeing the value of their portfolio fluctuating on a daily basis. Global investment firm Franklin Templeton suggests that these 5 ideas may help investors ride the volatility.
The Aditya Birla Capital and Aditya Birla Health Insurance boards have approved a proposal by a subsidiary of the Abu Dhabi Investment Authority (ADIA) to invest Rs 665 crore for a 9.99% stake in Aditya Birla Health Insurance. Aditya Birla Health Insurance is a 51:49 JV between Aditya Birla Capital and Momentum Metropolitan Strategic Investments, a wholly-owned subsidiary of South African-based Momentum Metropolitan Holdings.
Price as on 12 Aug, 2022 10:59 AM, Click on company names for their live prices.
Srei bidders refuse to pay earnest deposit
Bidders for the bankrupt Srei group companies refused to make the earnest money deposit (EMD) of Rs 150 crore on Wednesday - which was the last day for submitting a resolution plan - due to a dispute with the administrator over unusual conditions attached to the deposit, reports ET. Administrator Rajnish Sharma received two plans on Wednesday - one from Arena Investors in partnership with a Varde Partners affiliate and another joint offer from Shon Randhawa and Rajesh Viren Shah - but he pushed back the deadline to submit the final bids to August 19.
Aurobindo Pharma's consolidated net profit for the quarter ended June 30 was down by 32.4 per cent to Rs 520.5 crore compared to Rs 770 in the first quarter of the last fiscal. Revenues from operations were up by 9.4 per cent to Rs 6,236 crore during the quarter under discussion.
Price as on 12 Aug, 2022 10:25 AM, Click on company names for their live prices.
FMCG major Dabur on Friday announced that the board has accepted the resignation of Amit Burman as the Chairman with effect from August 10, 2022. Burman will continue to serve as the non-executive director of the company. The board also accepted the appointment of Mohit Burman, who is currently the Non-Executive Vice Chairman, as the Non-Executive Chairman of the board for a period of five years with effect from August 11, 2022. Saket Burman has been appointed the non-executive vice-Chairman of the board of directors for five years w.e.f. August 11, 2022.
Price as on 12 Aug, 2022 10:23 AM, Click on company names for their live prices.
Nifty Realty Index up 1.21%; Prestige zooms 8.71%, Oberoi Relaty 4.81%
Price as on 12 Aug, 2022 10:16 AM, Click on company names for their live prices.
Bond yields up tracking U.S. peers, July inflation watched
Indian government bond yields were higher in early trades on Friday, tracking a spike in U.S. Treasury yields, while further upside was expected to be capped ahead of bond auction and local retail inflation data due later, traders said. The 10-year bond yield was trading at 7.3044%, as of 0335 GMT, after ending at 7.2673% on Thursday. The 10-year U.S. Treasury yield jumped 10 basis points on Thursday to end at 2.8880%.
Dabur: Appoints Mohit Burman as Non-Executive Chairman for 5 years and Saket Burman as Non-Executive Vice-Chairman for 5 years
#StocksInFocus | Dabur: Appoints Mohit Burman as Non-Executive Chairman for 5 years and Saket Burman as Non-Executi… https://t.co/P8Gf2sZgex
— ET NOW (@ETNOWlive) 1660277899000Rupee falls 9 paise to 79.71 against US dollar in early trade: PTI
Ipca Laboratories has reported 53 percent fall in its Q1FY23 net profit at Rs 143.06 crore against Rs 306.66 crore in June 2021. Its net sales were up at Rs 1,585.74 crore versus Rs 1,565.79 crore, YoY.
Price as on 12 Aug, 2022 09:44 AM, Click on company names for their live prices.
Buy or Sell: Stock ideas by experts for Aug 12, 2022
The Tata group retail firm Trent reported a consolidated net profit of Rs 114.93 crore in the first quarter of the current financial year. The company had posted a net loss of Rs 138.29 crore in the April-June quarter a year ago.
Price as on 12 Aug, 2022 09:41 AM, Click on company names for their live prices.
Bata India reported a 71.82 per cent rise in consolidated net profit at Rs 119.37 crore for the first quarter of FY23 as the shoemaker achieved the 'highest ever quarterly sales'. The company had posted a net profit of Rs 69.47 crore in the April-June quarter a year ago.
Price as on 12 Aug, 2022 09:40 AM, Click on company names for their live prices.
Tata Steel, Yes Bank, ONGC among most active stocks on NSE
Price as on 12 Aug, 2022 09:40 AM, Click on company names for their live prices.
STOCK IN FOCUS: Paytm
Institutional Investor Advisory Services India (IIAS) has advised shareholders of Paytm parent firm One97 Communication to vote against the reappointment of Vijay Shekhar Sharma as its chief executive as well as against his remuneration
Price as on 12 Aug, 2022 09:31 AM, Click on company names for their live prices.
Stocks in focus: AB Capital, Apollo Hospitals, Paytm and more
MARKET VIEW: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The ongoing market rally is being driven mainly by two factors: One, the steady decline in dollar index from above 109 to 105.26 now facilitating capital flows to emerging markets. Two, the return of FIIs into the Indian market, which has completely changed the market sentiments here. It is important to appreciate the fact that FIIs have made a complete turnaround in their strategy in India with sustained buying over the last 10 sessions. And yesterday's buy figure of Rs 2298 cr is the highest in several months. This, and the fact that India has the best growth story for this year and the next, will impart resilience to the market.
However, investors should exercise caution while chasing this rally since valuations are getting stretched.
Remain invested in high quality growth stocks ; don't chase 'cats and dogs'.
However, investors should exercise caution while chasing this rally since valuations are getting stretched.
Remain invested in high quality growth stocks ; don't chase 'cats and dogs'.
OPENING BELL: Sensex sheds 50 points, Nifty below 17,650; IPCA Labs plunges 8%, Bharat Forge gains 3%
Sebi plans tighter eligibility criteria for F&O inclusion
The Securities and Exchange Board of India (Sebi) is planning to tighten the eligibility criteria for inclusion of stocks into the equity derivatives segment, said three people with knowledge of the matter. The stricter rules could restrict the entry of various thinly-traded stocks into futures and options, they said. The proposal was discussed in a recent Sebi-appointed Secondary Market Advisory Committee (SMAC) meeting. The capital markets regulator has sought feedback from the committee members on the matter, the people in the know said.
Stocks in Asia boosted by Japan
Stocks in Asia got a lift from Japan on Friday while Treasuries were mixed as investors evaluated how far the Federal Reserve must jack up interest rates to ensure high inflation keeps cooling. Japan added about 2% in a catch-up rally as the equity market there reopened from a holiday but Australia and Hong Kong struggled.
- S&P 500 futures rose 0.1% as of 9:26 a.m. in Tokyo
- Nasdaq 100 futures climbed 0.2%
- Japan’s Topix index added 1.9%
- South Korea’s Kospi index lost 0.1%
- Australia’s S&P/ASX 200 index shed 0.5%
- Euro Stoxx 50 futures decreased 0.1%
Quarterly earnings today
LIC, ONGC, Grasim, Divi's Laboratories, Hindustan Aeronautics, UPL, Info Edge (India) and Hero MotoCorp are among top firms set to report their quarterly earnings today.
SGX Nifty signals a flat start
Nifty futures on the Singapore Exchange traded 19 points, or 0.10 per cent, higher at 17,672, signaling that Dalal Street was headed for a muted start on Thursday.
Tech View: Nifty50 forms small bearish candle
"If we draw a trendline connecting the October 2021 high and subsequent highs, the Nifty50 is now steadily approaching the resistance zone of 17,900-18,000. This is a make or a break range for the Nifty50. If the index fails to move beyond 18,000, we could see a serious decline coming in," said independent analyst Manish Shah.
Oil prices on track for weekly gain as recession fears ease
Oil prices dipped in early trade on Friday amid uncertainty on the demand outlook based on contrasting views from OPEC and the International Energy Agency (IEA), but benchmark contracts were headed for weekly gains as recession fears eased. Brent crude futures fell 34 cents, or 0.3%, to $99.26 a barrel at 0112 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.3%, to $94.00 a barrel.
Nasdaq retreats as rate hike fears cool stock rally
The Nasdaq retreated to close lower on Thursday despite fresh evidence of cooling inflation on the realization the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer pThe S&P 500 retreated after earlier hitting fresh three-month highs after data showed the U.S. producer price index unexpectedly fell in July.
Rupee falls 37 paise to close at 79.62 against US dollar
The rupee depreciated by 37 paise to close at 79.62 against the US dollar on Thursday despite sustained foreign capital inflows and a positive trend in equities. At the interbank foreign exchange market, the local currency opened at 79.22 and saw an intra-day high of 79.22 and a low of 79.94 against the American currency. It finally ended at 79.62, down 37 paise over its previous close of 79.25.
Sensex, Nifty on Thursday
India's equity indices rose to a four-month high on Thursday, mirroring the overnight gains on Wall Street, after softer-than-expected consumer inflation in the US, which raised hopes of slower interest rate increases by the American central bank. BSE's Sensex gained 515.3 points, or 0.88%, to close at 59,332 - the highest closing since April 8. The NSE Nifty rose 124.2 points, or 0.71%, to close at 17,659 - its highest closing since April 11.
