MARKET WRAP: Sensex gains 230 pts, ends above 39K level; auto stocks rally

All that happened in the markets today

4:12 PM

MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services

"Indian benchmark indices picked up positivity towards the latter half of the trading day, after trading flat with a slight positive bias, and ended in gains. It was in sync with a positive opening in the European markets which is banking on additional stimulus measures to aid economic recovery. Index heavyweight Reliance contributed more than half of the Nifty gains, while sectorally Auto and the Banking index contributed most. Auto stocks gained on expectations of government measures to help out the ailing sector.  Markets expected to trade uncertain on lack of fresh triggers while stock-specific action will continue."

4:10 PM

SECTOR WATCH:: Nifty Auto gains around 1.5%

4:09 PM

MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex

3:35 PM

CLOSING BELL

The S&P BSE Sensex ended 230 points or 0.59 per cent higher at 39,074 levels while NSE's Nifty ended at 11,549.60, up 77 points, or 0.67 per cent. 

3:24 PM

MARKET CHECK:: Top 5 losers on the BSE at this hour

3:14 PM

BROKERAGE VIEW:: ICICI Securities on Gabriel India

Improving demand outlook leads to an upgrade in our estimates for GIL. We now expect sales, PAT to grow at a CAGR of 0.6%, -2.5%, respectively, in FY20-22E. GIL offers a play on the 2-W demand revival post-Covid and possesses strong financials (debt free B/S, healthy cash flow generation, double-digit return ratios). The recent run-up in stock price, however, limits our ability for a rating upgrade. Consequently, we retain our HOLD rating on the stock, valuing it at Rs 125 i.e. 22x FY22E EPS of Rs 5.6.

3:06 PM

Recovery from intra-day lows in today's session

COMPANY	DAY'S LOW(RS)	DAY'S HIGH(RS)	LATEST(RS)	RISE(%)
INDOSTAR CAPITAL	286.20	330.20	324.90	13.52
IIFL FINANCE	78.50	89.85	89.10	13.50
KPIT TECHNOLOGI.	82.05	94.25	92.95	13.28
INDIAMART INTER.	3226.00	3820.00	3640.00	12.83

3:03 PM

Invest directly only if you can pick stocks with good earnings potential

The mid- and small-cap indices have performed better than the large-cap index in the current rally. While the S&P BSE Sensex is up 26.62 per cent over the past three months, the S&P BSE Midcap index is up 34.61 per cent, and the S&P BSE Smallcap index is up 42.2 per cent over the same period. READ MORE

2:57 PM

NEWS ALERT | KNR Constructions wins order worth Rs 1,157 crore from TN govt; stock recovers from day's low

2:51 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

2:48 PM

Government debt likely to stand at 80% of GDP by FY30: Motilal Oswal

The government's debt rose to 75 per cent of GDP in FY20 from 70 per cent in FY18 and is likely to reach 91 per cent in FY21, according to estimates from the EcoScope report of Motilal Oswal Financial Services. It will stay at more than 90 per cent up to FY23 before moderating slowly to 80 per cent by FY30. This surge in government debt-to-GDP ratio will restrict its ability to grow its spending significantly and support economic activity in the 2020s decade as it has done in the past few years, said the report released on Wednesday. READ MORE
 

2:47 PM

BUZZING STOCK:: Venky's India zooms 13%

2:40 PM

NEWS ALERT :: Markets move higher on vaccine hope

2:36 PM

Asian Market Wrap :: Motilal Oswal Financial Services

2:33 PM

Stocks that hit 52-week high on BSE today

COMPANY	PRICE(rs)	52 WK HIGH	CHG(%)
ADANI GAS	187.65	196.50	1.41
AFFLE INDIA	2943.35	2943.35	5.00
ALLCARGO LOGIST.	129.75	139.90	-0.80
APL APOLLO TUBES	2467.50	2489.25	0.77
BAJAJ ELECTRICAL	508.45	513.00	6.05

2:26 PM

NEWS ALERT :: Edgefield Securities sells 2.84% stake in JK Tyre via open market on August 25

(As reported by CNBC TV18)

2:24 PM

MARKET UPDATE:: Sensex at day's high

2:20 PM

Indostar Capital Finance hits 52-week high; stock surges 37% in 7 days

On August 18, the company allotted 2,000, Secured, Redeemable, Non-Convertible, Rated, Listed, Taxable Bonds in the nature of Debentures of Face Value of Rs 10 lakh each, for cash, at par, aggregating to Rs 200 crore to State Bank of India on private placement basis. READ MORE

2:06 PM

Rupee Closing

Rupee ends at 74.30 per US dollar vs Tuesday's close of 74.32/$

2:04 PM

Phoenix Mills: Resumption uncertainty to keep stock under pressure

The Phoenix Mills stock was down about 11 per cent on Tuesday after the company's promoters sold a partial stake (7.3 per cent). Promoter holding in the company at the end of June quarter stood at just over 59 per cent.

 

The block deal comes close on the heels of a qualified institutional placement (QIP) last week which helped raise Rs 1,089 crore at Rs 605 per share. READ MORE

1:56 PM

MARKET CHECK:: Top 5 gainers on the BSE at this hour

1:42 PM

BROKERAGE VIEW:: LKP Securities on The Federal Bank

Despite substantial improvement in all major operating matrix, profitability may remain under pressure in FY21 led by the higher provision for LuM. We have incorporated higher provision requirement along with steady growth in balance sheet and thus expect it to deliver RoA/ RoE of ~1%/~13% by FY22E. In our view, maximum negatives are in the price and thus we recommend BUY with a TP of Rs 71 (based on 0.8x FY22E Adj. BVPS); a potential upside of 27%.

1:32 PM

European indices trade mixed

1:17 PM

GMM Pfaudler, Laurus Labs, Birlasoft: 13 BSE500 stocks that doubled in 2020

At a time when the return in the frontline indices have been nothing to write home about in calendar year 2020, the action has shifted to the mid-and small-cap stocks. While the S&P BSE Sensex has lost nearly 6 per cent YTD till August 25, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained around 1 per cent and 9 per cent, respectively during this period. READ MORE

1:08 PM

Should you buy LIC Housing Finance post Q1 nos? Here's what analysts say

Shares of LIC Housing Finance were trading flat with a positive bias in the afternoon deals on the BSE on Wednesday. The stock had settled over 8 per cent higher on Tuesday following its June quarter (Q1FY21) result announcement. For the quarter under review, LIC Housing Finance's profit before tax (PBT) rose 21 per cent to Rs 1,017.67 crore from Rs 840.89 crore in Q1FY20 while the net profit climbed 34 per cent to Rs 817.48 crore against Rs 610.68 crore in the year-ago period. READ MORE

12:56 PM

Indiabulls Housing Fin soars 8% on heavy volume; up 10% so far this week

Shares of Indiabulls Housing Finance surged 8 per cent in the intra-day trade, to quote at Rs 223 apiece, on the BSE on Wednesday on the back of heavy volume. At 12:25 pm, the stock was ruling 6.7 per cent higher at Rs 220.3 on the BSE, as against 0.03 per cent dip in the benchmark S&P BSE Sensex. A combined 46.31 million shares had changed hands on the counter on the NSE and BSE till the time of writing of this report. READ MORE

12:50 PM

BUZZING STOCK:: IndusInd Bank at day's high

12:43 PM

Top gainers on BSE at this hour

COMPANY	PRICE(rs)	CHG(%)
INDOSTAR CAPITAL	318.00	15.09
DISH TV INDIA	10.93	9.96
TVS SRICHAKRA	1591.80	7.77
PARAG MILK FOODS	119.30	7.67
ASTER DM HEALTH.	150.00	7.60

12:32 PM

Why is illiquid Elcid Investments stock so valuable off-market?

Elcid Investments is a highly illiquid stock with hardly any trades -- the share has changed hands only 31 times since July 2011--on the exchange. The Mumbai-based company is currently trading at Rs 11.03 a share on the BSE, with a market capitalisation of merely Rs 20 lakh. Prima facie, it looks like a dud penny stock, with no investor willing to take a punt on. Are there no buyers for the stock? READ MORE

12:26 PM

MARKET UPDATE:: Broader indices continue to outperform benchmarks