Sensex adds 123 pts, Nifty tad below 16,300; Bharti Airtel jumps 4%, ITC 3%

The BSE MidCap added 0.10 per cent but the BSE SmallCap index slipped 0.43 per cent

4:10 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index managed to close a day on a positive note at 16295 with minimal gains and formed dragon fly Doji candle pattern on the daily chart which represents indecision in the markets.  Going forward 16300 will be very quick resistance if managed to sustain above 16300 zone we may see the index to march towards 16400 zone quickly but if fails to manage then some profit booking may be seen towards 16200-16100 zone which are immediate supports on downside & overall support is placed at 16k mark nay dip near 16k mark will be good buying opportunity.

4:09 PM

Be cautious on mid & smallcaps: Vinod Nair, Head of Research at Geojit Financial Services

Despite witnessing consolidation in the opening session, large caps managed to continue trading at record high levels with the support from IT, Metal and FMCG stocks. Banking stocks continued to be under pressure ahead of the RBI’s policy announcement. Importantly, the broad market has started to underperform. Investors should be cautious in the short-term regarding the performance of mid & small caps after the thrilling rally during the year.

4:08 PM

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Retail Research, HDFC Securities

Indian benchmark indices closed mildly higher on Aug 05 for the third consecutive day amidst mixed global cues and profit taking in broader markets. Nifty opened mildly higher, fell in the first 20 minutes of trade, recovered ground and went into positive territory and later gave up some ground to close almost at the opening levels. At close the Nifty was up 0.22% or 35.8 points to close at 16294.6.

 

Volumes were in line with recent averages as focus shifted to telecom and metal stocks, the two main gainers while Realty and Bank indices fell the most.

 

Asian shares mostly held onto this week's gains on Thursday, despite hawkish remarks from a senior official at the U.S. Federal Reserve. European stocks were flat to slightly higher on Thursday as investors digested a slew of mixed earnings updates and awaited a key monetary policy update from the Bank of England for direction.

 

Nifty made a classic doji after a rise on Aug 05, suggesting indecision at higher levels. Either one or  two up gaps made in the course of journey from 15885 may come in for filling over the next few sessions. Advance decline ratio was very bad in the morning session, but improved a bit towards the end to look better than the previous day, though very much in the negative. 16176-16349 could be the trading band for the Nifty in the next 1-2 sessions. 

 

4:07 PM

Airtel surges 4%, hits 6-month high in intra-day

4:03 PM

Result Reaction :: Hikal hits new high, ends 12% higher

>> Q1FY22 PAT at Rs 50.5 crore versus Rs 15 crore

>> Q1FY22 Revenue at Rs 454.50 crore versus Rs 347 crore

4:00 PM

Earnings Impact GAIL India ends flat even as profit soars over 200%

- Cons revenue at Rs 17,588 cr vs Rs 12,183 cr YoY

- Cons PAT at Rs 2,157 cr vs Rs 643 cr YoY

- Cons ÈBITDA at Rs 2,638.6 cr vs Rs 446 cr YoY

- Cons margin at 15% vs 3.6% YoY

 

3:58 PM

Vodafone recoups all losses, ends in the green

3:56 PM

Advance-decline ratio in favour of sellers

3:47 PM

India VIX eases over 2%

>> India VIX or the volatility indicator declined 2.57 per cent to 12.87

3:45 PM

BSE Smallcap index underperforms Sensex, down over 0.43%

3:42 PM

Sector Watch :: Barring Metals, IT & FMCG all sectoral indices on NSE end in red

3:40 PM

Sensex Heatmap | Top gainers & losers at close

>> Top gainers - Airtel, ITC, Tech Mahindra

>> Top losers: SBI, IndusInd Bank, ICICI Bank

3:34 PM

CLOSING BELL :: Benchmark indices off day's high but log fresh record close

The BSE barometer Sensex and NSE Nifty after scaling new highs in intra-day session witnessed profit taking in the last hour of trade and ended off day's high. Sensex closed the day at 54,493, up 123 points or 0.23 per cent. Nifty50, meanwhile, settled at record close of 16,294.60, up 36 points or 0.22 per cent. Sensex had touched an all-time high of 54,717.24 in trade today and Nifty at 16,349.45.

 

3:20 PM

Low provisions, stable NII: Here's what may drive Bank of Baroda's Q1 PAT

Healthy operating profit, steady interest income, and some recoveries from stressed accounts, along with fewer provisions, may help Bank of Baroda report profit in the June quarter of FY22 (Q1FY22). However, the bottom line growth may be capped by higher slippages, say analysts.

 

The state-owned lender, which had reported net loss of Rs 864 crore in Q1FY21 and Rs 1,046.5 crore in Q4FY21, is expected to report up to Rs 1,633.3 crore-net profit on Saturday, August 7, for the quarter under review. READ MORE

3:15 PM

June Quarter Results :: Adani Transmission

>> PAT: Rs 435.4 crore

>> Revenue: Rs 2,829.7 crore

>> Ebitda: Rs 1,406 crore

>> Ebitda margin: 49.69%

2:59 PM

RBI monetary policy :: What is the Street factoring-in?

>> The inflation outlook for FY22 could also see a revision from the predicted levels of 5.1 per cent.

 

>> RBI is likely to watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy.

 

>> The fear of the third wave would also force the RBI to continue with the growth supporting measures.

 

>> Inflation rates, liquidity concerns, and Governor Shakitkanta Das’ commentary will be in more focus during this.

Views by: Heena Naik, Research Analyst - Currency, Angel Broking Ltd

2:48 PM

JUNE QUARTER RESULTS :: GAIL INDIA

Revenue: Rs 17,588 crore 

PAT: Rs 2,138 crore

(Numbers on a consolidated basis)

2:36 PM

Global markets :: Earnings lift European stocks to all-time highs ahead of BoE decision

European stocks hit record highs on Thursday, as strong earnings from Novo Nordisk and Siemens helped outweigh weakness in miners and banking shares, with investors eyeing a policy decision from the Bank of England later in the day.

The pan-European STOXX 600 inched up 0.3%, extending gains that took the index to all-time highs this week.

European stocks are on course for their strongest weekly performance in three months, as upbeat quarterly earnings and loose monetary policy supported markets despite a surge in COVID-19 cases and concerns about inflationary pressures.

Source: Reuters

2:27 PM

Stock of this textile company has zoomed 127% in a month

Sportking India manufactures cotton, cotton polyester blended and acrylic-blended yarn in grey and dyed forms with an installed capacity of 272,880 spindles. The garments are retailed by Sportking Group companies under the Sportking and Mentor brands, through both exclusive and multi-brand stores. READ MORE

2:15 PM

Broader market :: BSE SmallCap index underperforms, down 0.6%

2:04 PM

July Auto Sales :: Tata Motors in focus

>> JLR UK sales down 46.6% at 4,528 units Vs 8,476 units (YoY)

>> Jaguar UK sales down 53.1% at 1,288 units Vs 2,746 Units (YoY)

>> Land Rover UK sales down 43.4% at 3,240 units Vs 5,730 units (YoY)
 

1:48 PM

June quarter results :: HIKAL

>> PAT: Rs 50.5 crore

>> Revenue: Rs 454 crore

1:46 PM

Exxaro Tiles IPO subscribed over 7 times on Day 2

1:46 PM

IPO Alert :: Devyani International's Rs 1,800-cr issue subscribed over 4x so far

1:28 PM

Analysts revise SBI target price post Q1, but Voda Idea overhang remains

Concerns over Vodafone Idea's existence and worries that the telecom services provider may go belly up in the absence of any support from the government hit shares of State Bank of India (SBI) on Thursday. The stock skidded 3 per cent to Rs 443 on the BSE in the intra-day trade. Analysts worry that Voda Idea's precarious position may hit the lender's asset quality going ahead. READ MORE

1:20 PM

Unilever is said to kick off sale of large part of $5.6-bn tea business

The UK-listed consumer group has reached out to potential suitors and is expecting first-round bids in September, the people said, asking not to be identified discussing confidential information.

 

Deliberations are ongoing and there’s no certainty it’ll decide to proceed with a sale, the people said. Unilever is also considering an initial public offering of the tea business, or a partnership, the company said in a first-half results statement in July. READ MORE

1:04 PM

Mos Aviation says AAI sees air traffic at pre-Covid levels by FY25

>> Indian carriers lost Rs 19,000 crore in FY21

 

>> Indian airports lost Rs 3,400 crore in FY21

(Source: TV Reports, Agencies)

12:53 PM

ALERT :: Nifty surpasses 16,300 for the first time

12:42 PM

Bharti Airtel surges 7%, hits over six-month high

Bharti Airtel is India’s second-largest telecom operator, with a revenue market share of 35 per cent as of Q4FY21. The company has 321 million wireless customers in India and 121 million subscribers across operations in 14 African countries. It enjoys industry-leading ARPU (average revenue per user) and margins in the wireless business. READ MORE

12:27 PM

Beyond rates: Five things to watch out for in RBI's monetary policy

The RBI has continued with an ultra-loose monetary policy that keeps interest rates lower than average inflation while maintaining a huge amount of surplus liquidity. The market wants to know whether the RBI will indicate on Friday when it will start returning to normalcy.

 

What is normal is viewed differently but among other things, it is the gradual withdrawal of liquidity, inching up of overnight rates and narrowing the policy rate corridor. READ MORE