Benchmarks end at closing peak; Nifty tops 16,350; broader indices outrun

The Nifty IT index jumped 3 per cent and ended around record high levels of 32,245.

4:17 PM

TECH VIEW | Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed the continuation of positive trend, and an attempt to breach the level of 16350, after a reversal from the support level around the Nifty 50 Index level of 16200 yesterday. If the market sustains above the level of 16350, we expect markets to gain momentum, leading to an upside projection till 16450-16500 level. The momentum indicators like RSI and MACD indicating a positive outlook to continue.

 

4:09 PM

Market View :: Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty broke upwards, as expected, post a 6 day range close. Advance decline ratio has turned sharply positive bringing relief to market participants. Broad market indices like smallcap and midcap indices have outperformed the Nifty. There could be a day or two of followup upmove for the Nifty (though gradual) while the broader markets continues its upward retracement.

3:54 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Market breadth continued to be skewed in favour of the bulls amidst mixed global cues and strong support from IT, power and utility stocks. Chinese jitters over tightening regulatory scrutiny of online insurance companies were outweighed by the slowdown in pace of the US inflation data and rebound in UK GDP numbers. US consumer price inflation stood at 5.4% YoY in July, unchanged from June’s data, taking some heat out of concerns over early tapering by the Fed. UK GDP grew by 4.8% QoQ in Q2 as activity and demand rebounded with the easing of covid restrictions.

3:54 PM

Eicher Motors sheds over 3% ahead of June quarter results

>> Results are due later today

3:52 PM

BPCL ends in the red as Q1 numbers missed Street estimates

>> Bharat Petroleum Corporation today reported a 28 per cent year-on-year fall in net profit to Rs 1,501.6 crore for the quarter ended June

3:51 PM

Bata India ends flat after hitting 52-week high in trade

>> Stock rallied 5% as the company narrowed loss in Q1

3:49 PM

SpiceJet rallies 5% ahead of June quarter earnings

>> Given that budget carrier SpiceJet, as per analysts' expectations, is most likely report net loss for April-June quarter of FY22 (Q1FY22), all eyes are now on the airline’s fundraising plans as well as growth in the cargo business during the Covid-hit period, when it reports its Q1 result on Friday, August 13.

3:48 PM

VIP Industries ends in 20% upper circuit on strong Q1 show

>> VIP Industries, which is the leading manufacturer of hard and soft luggage in Asia, reported a consolidated net profit stood at Rs 2.53 crore in Q1FY22 compared with net loss of Rs 51.32 crore in the year-ago period. Consolidated revenue from operations, meanwhile, surged 411.43 per cent to Rs 206.21 crore as against Rs 40.32 crore in Q1FY21.

3:43 PM

Nifty IT hits all-time high; all constituents end in the green

3:42 PM

Nifty Media soars over 2%; TV Today only loser

3:41 PM

Nifty Pharma index tanks 1%; Biocon only gainer

3:39 PM

Sector Watch | Barring Nifty Pharma, all indices end in the green

3:38 PM

BSE Midcap & Smallcap indices rise up to 2%, beat benchmark Sensex

>> Both indices snapped their 3-day losing streaks

3:36 PM

Sensex Heatmap | Top gainers & losers at close

>> Top gainers: PowerGrid, TechM, HCL Tech

>> Top losers: DRL, RIL, IndusInd

3:33 PM

CLOSING BELL :: Sensex, Nifty end at record highs

BSE Sensex closed at record high of 54,831, up 305 points or 0.56%. It had hit an all-time high of 54,874 in trade earlier. ICICI Bank, L&T, Tech Mahindra & HDFC Bank were the top Sensex contributors. Nifty50, meanwhile, closed the day at 16,364, up 82 points or 0.5%. Nifty hit fresh peak of 16,375 in trade today.

3:27 PM

India set to clear Boeing 737 Max to fly again within days

The South Asian nation has been satisfied with the plane’s performance since it was un-grounded in the U.S., Europe and a number of other nations, and Boeing has met India’s own requirements, which included setting up a Max simulator there, the person said, asking not to be identified because the matter is confidential. READ MORE

3:18 PM

Nelco freezes at 10% upper circuit for 2nd straight day; hits multi-yr high

Shares of Nelco were locked in the 10 per cent upper circuit band for the second straight day, at Rs 470.05 on the BSE on Thursday, on the back of heavy volumes with only buyers being seen on the counter. Till 02:18 pm, a combined 1.42 million equity shares had changed hands and there were pending buy orders for 123,851 shares on the NSE and BSE, data shows. READ MORE

3:01 PM

International funds gain traction on returns, diversification boost

International funds offered by domestic mutual funds (MFs) have gained currency as investors have looked to limit their exposure to local stocks. This, coupled with the attractive returns generated by global markets, particularly technology stocks, over the last few years have further propelled asset managers to aggressively launch such international offerings. Since January, fund houses have collected over Rs 4,753 crore from launching various international fund of funds (FoF). READ MORE

2:44 PM

Buying shorter debt is now a hot trade in India's bond market

Rising inflation is constraining the central bank from easing further even as the economy remains vulnerable following a deadly wave of coronavirus infections. The Reserve Bank of India last week left its key rate unchanged but one policy member dissented over maintaining an accommodative stance for longer. READ MORE

2:35 PM

Corporate Action :: IRCTC announces stock split; from the face value of Rs 10 to now Rs 2

>> Stock hits 52-week high

2:31 PM

June Quarter Result :: BPCL nos miss Street expectations

>> PAT: Rs 1,502 crore

>> Revenue: Rs 70,92 crore

>> Ebitda: Rs 3,253.3 crore

>> Margin: 4.6%

2:20 PM

SpiceJet Q1 preview: Analysts eye liquidity measures, growth in cargo biz

Given that budget carrier SpiceJet, as per analysts' expectations, is most likely report net loss for April-June quarter of FY22 (Q1FY22), all eyes are now on the airline’s fundraising plans as well as growth in the cargo business during the Covid-hit period, when it reports its Q1 result on Friday, August 13. READ MORE

2:14 PM

NCLT rejects Siva Industries' debt resolution under IBC, orders liquidation

The NCLT order questions the commercial wisdom of the committee of creditors in arriving at the debt resolution plan. The Supreme Court had earlier said the commercial wisdom of the committee of creditors is to be taken into account while deciding on the merits of any IBC case. IDBI Bank, which has the highest exposure to the company, will lose a substantial amount of funds as the company goes for liquidation. READ MORE

2:04 PM

VODA IDEA AGR REVIEW PETITION

>> Company stands to lose lakhs of crores of investment

>> If co goes bankrupt, over 27 cr subscribers will be left high & dry

>> Not questioning principles laid down by SC to determine AGR Dues

>> SC order didn't mean to unjustly benefit DoT through excess payments

 

>> Only want correction of arithmetic, double counting errors

>> Unjust enrichment of DoT threatens the existance of our company

1:48 PM

BUZZING :: SpiceJet rises sharply ahead of Q1 results tomorrow

1:48 PM

NEWS ALERT :: Coal India venturing to set up 14 solar projects of 3,000 MW capacity by FY24

>> Source: Corporate Presentation; BSE

1:48 PM

IEA cuts oil demand outlook on virus, sees new surplus in 2022

>> Oil demand rose 3.8 million B/D MoM in June, fell 120K in July

 

>> Lowers H2 2021 oil demand estimate by more than 500 million B/D

 

>> Cites pandemic, data revision for demand downgrade 

 

Source: Agencies, TV News

1:39 PM

JUNE QUARTER RESULTS :: RITES

>> Revenue: Rs 355 crore vs Rs 335 crore YoY

>> PAT: Rs 78 crore vs 65 crore

>> Declares interim dividend at Rs 2 per share

1:27 PM

Options volume hits record high; forms 97% of F&O contracts traded in FY22

Trading in the options segment of the exchanges has touched a record high this year, led by factors such as the entry of new individual traders amid the Covid-19 pandemic, an uptick in margins in the futures segment, increased activity from algo traders, and the weekly expiry cycle. The number of contracts traded in the options segment in FY22 so far makes up over 97 per cent of the total futures and options (F&O) contracts, with action largely concentrated in the Nifty and Bank Nifty index options. READ MORE

1:18 PM

YES Bank hits 52-week low in firm market, down 33% thus far in 2021

After a heavy loss in the January-March quarter of the financial year 2020-21 (Q4FY21), Yes Bank returned to profitability in the April-June quarter of the financial year 2021-22 (Q1FY22) with a profit of Rs 210 crore, mainly led by higher other income and lower provisions. Gross non-performing assets (NPA) ratio was up 20 basis points quarter-on-quarter (QoQ) at 15.6 per cent as the bank resorted to heavy restructuring (Rs 5,000 crore; 3 per cent of loans vs. 0.7 per cent in Q4). READ MORE