BSE m-cap hits Rs 250 trn as Sensex zooms 663 pts, Nifty climbs 17,100

Bharti Airtel (up 6.7 per cent) was the biggest gainer on the Sensex today, followed by Bajaj Finance, Bajaj Finserv, Asian Paints, TCS, Titan, and Tech Mahindra

4:12 PM

MARKET QUOTE :: S Ranganathan, Head of Research at LKP Securities

Bulls went on a rampage to notch up the fastest 1000 point rise in the Nifty this month to cross 17k with ease. FMCG & IT biggies together with the Wireless & Bajaj Twins made it look effortless ahead of the Q1 GDP numbers today. Metal stocks too lent good support as Indices soared over a percentage in late afternoon trade today as the street awaits the 4W Auto numbers tomorrow with optimism.

4:10 PM

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

Nifty gained for the third consecutive day on Aug 31 and closed above 17000 for the first time ever. Nifty opened mildly higher and made an intra day low within first 30 minutes of trade. It later kept inching up gradually through the day to end almost at the intra day high. Late recovery in Asian markets also helped Nifty to rise further. At close, the Nifty was 201 points or 1.19% higher at 17132.

 

On a day of large month-end volumes on the NSE, none of the sectors ended in the negative while Telecom, Consumer Durables, IT and Metals were the main gainers. Broad market indices underperformed with a gain of ~0.5% each.

 

Stock markets set new record highs on Tuesday as investors ended August in a buoyant mood, confident of an ongoing economic recovery and that the Federal Reserve's eventual paring back of its stimulus would not knock asset prices anytime soon. European stocks edged higher on Tuesday, on track for their seventh straight month of gains.

 

Nifty sliced through 17000 without much effort. A flat advance decline ratio on such a day denotes traders flocking to largecaps and taking profits out of mid and smallcaps. Nifty could now face resistance at 17250 while 16951 could provide support.

3:59 PM

Bajaj Finserv hits new high

3:57 PM

IEX surges 4%, continues to rally post inclusion in F&O

3:56 PM

Aptech gains 5% ahead of announcement of new online biz

3:50 PM

BUZZING :: Bharti Airtel climbs 7% on Google investment clarification

>> "Being a significant player in the telecom and digital industry, the company receives interests from high quality investors and companies for its various businesses," Bharti Airtel said in a regulatory filing. It further said the company evaluates various opportunities of potential investor engagement and takes decisions in a judicious manner.

 

>> The company made this clarification with respect to a news article which appeared on the Times of India's online portal on August 28, 2021. "We would like to submit that the Company, as a matter of policy, does not comment on media speculation/ report(s)," the company said.

3:46 PM

Despite heavy gains in Sensex & broader indices, market breadth negative

>> The advance-decline ratio marginally favoured sellers, suggesting underlying bearishness

3:44 PM

NIFTY MEDIA sole sectoral loser; Dish TV, ZEEL worst performers

3:43 PM

NIFTY METAL top sectoral performer on NSE today

>> Here are the gainers from the metal pack

3:42 PM

Sector Watch :: Barring Media, all sectors end in the green on NSE

>> Nifty Metal, IT & Financial Services lead gainers, rise over 1% each

3:40 PM

BSE SMALLCAP index gains 0.86%, still underperforms Sensex

3:39 PM

BSE MIDCAP index gains over 0.80%, lags benchmark Sensex

>> Midcap index hit a new high of 23,872.83 in trade today

3:37 PM

Top Sensex contributors today :: TCS, Airtel, Bajaj Finance

3:36 PM

Sensex Heatmap | Top gainers & losers at close

>> TOP GAINERS: Bharti Airtel, Bajaj twins

>> TOP LOSERS: Nestle India, IndusInd Bank, RIL

3:34 PM

CLOSING BELL :: Sensex vaults past 57,000; Nifty above 17,100

In a historic day for the benchmark indices on Dalal Street, the BSE Sensex and NSE Nifty hit new landmarks, with the former crossing 57,000 mark for the first time and latter 17,000 level. Lead by across the board buying, Sensex rose 663 points to end at 57,552. It hit an all-time high of 57625.26 in trade today. Meanwhile, the 50-pack Nifty settled at 17,130, up 199 points. It touched a new high of 17,153.50 in today's session.

3:21 PM

KR Choksey on Vijaya Diagnostics IPO :: Subscribe from long-term view

At the IPO’s upper price band of INR 531, VDC is being valued at 64.3x times earnings, offering potential upside relative to industry average of 89x. Considering strong brand recall, integrated model, high share of B2C, customer stickiness and sector leadership in southern India, we recommend a Subscribe with a long term perspective for VDC’s IPO.

3:15 PM

Index contributors :: Bharti Airtel, Bajaj Finance account for most gains

3:08 PM

Bulls run amok! Sensex zooms over 600 pts

2:55 PM

Global growth rebound solidified, but spread of Delta poses risks: Moody's

In the grouping, advanced economies will grow by 5.6 per cent collectively in 2021 and by 4.2 per cent in 2022, while emerging markets will collectively expand by 7.2 per cent in 2021, and slow to 5.1 per cent growth in 2022.

 

Excluding China (A1 stable), we project G-20 emerging market economies will expand by 5.7 per cent and 4.1 per cent in 2021 and 2022, respectively, Moody's said. READ MORE

2:39 PM

SECTOR WATCH :: NIFTY MEDIA slips into the red

>> Only sectoral loser on NSE in afternoon session

2:27 PM

ALERT :: SRF approves bonus at ratio of 4:1

>> Co to give 4 free shares for every 1 held

2:20 PM

'Leveraged trades can become a worrying factor for the markets'

As the SEBI's new peak margin requirement norms kick in on September 01 where 100 per cent upfront margin payment would be required for initiating even intraday positions, DEVEN CHOKSEY, managing director at KR Choksey Investment Managers in an interview that while Sebi may have achieved the purpose of tightening the screws on trading activity, the cost of trading may go up. READ MORE

2:11 PM

Bharti Airtel clarifies on Google investment buzz; stock hits new high

Shares of Bharti Airtel hit a new high of Rs 648.85 as they rallied 5 per cent on the BSE in intra-day trade on Tuesday after the company said it has received interest from high quality investors and companies for its various businesses. The stock surpassed its previous high of Rs 644 touched on August 16, 2021. READ MORE

1:56 PM

India VIX rises nearly 6%

>> VIX was last hovering above 14 level

1:47 PM

India to China: Where investors managing $3 trn are putting their money

As if the pandemic wasn’t warping global markets enough, China’s regulatory crackdown is suddenly adding new unpredictability. So how best to invest in these strange times? Bloomberg News spoke with institutional investors with $3 trillion in combined assets under management to ask how they’re navigating economic turmoil caused by unpredictable recoveries and China’s shifting rules, which have frozen U.S. listings and almost erased the online education sector. READ MORE

1:38 PM

INDEX CHECK :: Nifty Next50 outruns benchmark; here're the top gainers at this hour

1:24 PM

CURRENCY CHECK :: Powell's dovish tone drags US dollar

>> Rupee trades at day's high

Source: Bloomberg

1:22 PM

ALERT :: Investors book profit with index at all-time high

>> Sensex off day's high, erases half of total gains

1:17 PM

RIL eyes entering new materials, renewable energy biz through acquisitions

RIL is believed to be closing in on a deal to buy out the REC Group, a Norway-headquartered solar module maker with links to the Chinese government-owned China National Chemical Corporation (ChemChina). The deal with RIL is estimated at around $ 1.2 billion. READ MORE

1:10 PM

Should you apply for Vijaya Diagnostic IPO?

Based on FY2021 numbers, IPO is priced at a Price to Earning of 64.3 times and EV/EBITDA of 30 times at the upper price band of the IPO, which is in line with the listed peer group. Company already has a higher market share in key geographics like Hyderabad and we do not expect the covid related benefit to continue in coming years. We believe that at ₹531, all the near term positives are priced in and leaves limited upside for the investors. Hence, we are assigning a NEUTRAL recommendation to the Vijaya Diagnostic centre limited IPO.

-- Yash Gupta, Equity Research Analyst, Angel Broking