Profit-booking drags broader mkts; Metal, PSB indices fall 3%, IT stocks up

The BSE Sensex closed at 54,555 levels, up 152 points or 0.28 per cent. The Nifty50 index shut shop at 16,280 levels, up 22 points or 0.13 per cent

4:14 PM

TECH VIEW :: Nagaraj Shetti, Technical Research Analyst, HDFC Securities

A small positive candle was formed with upper and lower shadow. Technically, this action signal a formation of high wave type candle pattern. Normally, such high wave formation after a reasonable upmove or decline more often act as a reversal. But, having formed this pattern amid sideways range movement, the significant predictive value is ruled out.

 

The overall market breadth continued with negative trend and broad market indices like mid cap and small cap segments of NSE exchange have continue to bleed on Tuesday. This could be a cause of concern for the market participants. Until the market breadth improves, we are unlikely to see any sharp upside for the index ahead.

 

The Nifty continues to trade in a narrow range with volatility and this market action could continue for the next session. After the upside breakout of the broader range recently, the Nifty sustaining with the upside breakout could be positive indication with regards to a trend of index. A decisive move above 16360 is expected to open next upside towards 16500 levels in the near term. Immediate support is placed at 16200-16150 levels.

4:12 PM

CLOSING COMMENTS :: S Ranganathan, Head of Research at LKP securities

What started as a sell-off in Metal Stocks dramatically triggered a sell-off today in the Small-Cap Index after rallying for several months. The Midcap Index and the PSU banks too were also not spared as both investors & traders booked profits. The index at close quite honestly was not reflective of the market mood as the breadth was very weak. 

4:11 PM

MARKET VIEW | Covid wave, fall in liquidity lethal combination for mid & small caps

Domestic market remained highly volatile as the early gains were trimmed off following selling pressure in global markets. Concerns over an early withdrawal of asset purchase programs by the Federal Reserve and US CPI inflation data to be released this week impacted global market.  However, strong support from large caps, especially from sectors like finance and IT, helped domestic main indices to end on a positive note. After a steady rally during the previous months, the small and mid-cap stocks are witnessing consolidation for the past few trading sessions while buying interest has shifted to large caps. The third wave of Covid and fall in liquidity will be a lethal combination for highly priced mid & small caps. 

-- Vinod Nair, Head of Research at Geojit Financial Services

4:10 PM

Aptus Value Housing Finance IPO receives 20% bids on Day 1

4:09 PM

IPO Check :: Chemplast Sanmar subscribed 14% so far on Day 1

4:08 PM

IPO Alert :: Lukewarm response to Nuvoco Vista IPO, subscribed only 27% so far

>> The issue closes for subscription tomorrow

4:06 PM

IPO Alert :: CarTrade Tech subscribed 87% so far on Day 2

4:05 PM

Bharti Airtel rallies 4%, hits new high in intra-day

>> According to analysts, Bharti Airtel has a clear advantage to further gain high-quality subscribers in both pre-paid and post-paid categories, considering Vodafone Idea’s weak financial position. 

4:03 PM

Future Retail rebounds after 2 days of heavy selling

Report that Amazon has drawn up blueprint to bailout for cash-strapped Future Retail pushed stock higher

4:00 PM

Zomato tanks 4% ahead of June quarter numbers

3:52 PM

Earnings Impact :: Coal India slips nearly 1%

>> State-owned Coal India Limited on Tuesday reported 52.5% rise in consolidated net profit at Rs 3,174 crore for the quarter ending June 30, 2021. It was Rs 2,080 crore in the year-ago period. Consolidated revenue from operations rose 37% to Rs 25,282 crore as against Rs 18,487 crore in June 2020.

3:50 PM

Advance-decline ratio at nearly 1:3 on BSE

>> Weak market breadth signals underlying bearishness

3:49 PM

BSE Midcap index slips 0.85%

3:45 PM

BSE Smallcap index plunges over 2%

>> Here are the top gainers & losers from the pack

3:44 PM

SECTOR WATCH :: Nifty Metal, PSU Bank indices bleed

>> Nifty IT notches record high in intra-day trade

3:40 PM

Sensex Heatmap | Top gainers & losers at close

3:36 PM

CLOSING BELL :: Sensex, Nifty end volatile session in green

The BSE barometer Sensex ended at record close high of 54,555, up 152 points or 0.28 per cent, led by gains in private lenders, IT and Bharti Airtel. Nifty50, meanwhile, eneded flat at 16,269, up 11 points or  0.07 per cent. 

 

3:15 PM

Food and beverage major Keventer Agro files IPO papers with Sebi

The initial public offer (IPO) comprises fresh issuance of equity shares worth Rs 350 crore and an offer of sale of 10,767,664 equity shares by Mandala Swede SPV, according to draft red herring prospectus (DRHP).

 

The company, in its draft papers, said that the (OFS) includes "1.53 crore compulsory convertible preference shares, which will be converted up to a maximum of 91.51 lakh shares prior to the filing of the red herring prospectus with the RoC, solely for the purpose of the offer". READ MORE

3:01 PM

ALERT :: FIN MIN JULY ECO REPORT

>> High frequency indicators point to broad-based revival

 

>> Inflation likely to soothen out over coming months

 

>> There are visible signs of economic rejuvination

 

>> Any subsequent wave expected to be mild

2:53 PM

Mid-, small-cap stocks under pressure; 24 stocks freeze at lower circuits

Shares of mid and small-cap companies came under pressure on Tuesday, falling by up to 18 per cent on the BSE amid profit booking. At 02:04 pm, the S&P BSE Midcap index and the S&P BSE Smallcap index were down 1 per cent and 2 per cent, respectively. In comparison, the benchmark S&P BSE Sensex was up 0.23 per cent at 54,527 points. READ MORE

2:48 PM

Nifty IT index hits new high, gains nearly 1%

>> TechM, HCL Tech top index gainers

2:37 PM

June Quarter Results :: Deepak Fertilisers

>> PAT: Rs 131 crore

>> Revenue: Rs 1902 crore

>> EBITDA: Rs 290 crore

(All figures in consolidated basis)

2:31 PM

June Quarter Results :: CAMS profit rises from Rs 39 crore to Rs 63 crore YoY

2:25 PM

June Quarter Results :: Coal India

>> PAT: Rs 3,174 crore

>> Revenue: Rs 25,282 crore

>> Ebitda: Rs 4,843 crore

2:15 PM

ALERT :: Nifty erases gains, trades in the red

1:56 PM

Reliance weighing bid for telecom firm T-Mobile Netherlands: Report

The Indian conglomerate is working with an adviser to evaluate an offer for T-Mobile Netherlands BV, the people said, asking not to be identified discussing confidential information. Deutsche Telekom is seeking about 5 billion euros ($5.9 billion) in any sale, the people said. READ MORE

1:55 PM

IPO CHECK :: CarTrade Tech IPO crosses halfway mark, subscribed 60% on Day 2

1:43 PM

JUNE QUARTER RESULTS :: WHIRLPOOL

>> PAT: Rs 25.51 crore

>> Revenue: Rs 1340.6 crore

1:28 PM

IPO Alert :: Aptus Value Housing Finance subscribed 11% so far

1:16 PM

Dynamatic Technologies zooms 20% as 4% equity changes hands via block deal

At 09:19 am, around 263,471 equity shares, representing a 4.15 per cent stake of Dynamatic Technologies changed hands via block deal on the BSE, the exchange data shows. The name of the buyer and seller were not ascertained immediately.

 

Meanwhile, till 12:41 pm, a combined 619,362 equity shares or 9.71 per cent of the total equity of the company had changed hands on the BSE and NSE. There were pending buy orders for 47,463 shares on both the exchanges, the data shows. READ MORE