MARKET WRAP: Indices end flat, Nifty settles at 11,214; Asian Paints up 4%
All that happened in the markets today
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The S&P BSE Sensex settled at 38,041, up 15 points or 0.04 per cent. (Photo credit: Kamlesh Pednekar)
The benchmark indices ended on a subdued note on Friday; however, the mid and small-cap indices logged decent gains during the session.
The S&P BSE Sensex settled at 38,041, up 15 points or 0.04 per cent with Asian Paints (up over 4 per cent) being the top gainer and Titan Company (down over 2.5 per cent) the biggest loser. NSE's Nifty50 ended at 11,214, up 14 points, or 0.12 per cent. India VIX dropped over 3 per cent to 22.37 levels.
In the broader market, the S&P BSE MidCap index gained over 200 points or 1.4 per cent to end at 14,219 while the S&P BSE SmallCap index closed the session at 13,669, up 106 points, or 0.78 per cent.
On a weekly basis, Sensex gained 1.15 per cent while Nifty added 1.26 per cent.
The sectoral trend on the NSE was mixed. While IT and pharma stocks fell, auto, metals and financial stocks gained. The Nifty IT index slipped 1 per cent to 18,004 levels while the Nifty Pharma index ended at 11,333, down 0.6 per cent. On the other hand, Nifty Metal gained 0.85 per cent and Nifty Auto rose 0.75 per cent. Nifty Bank ended 0.5 per cent higher at 21,754 levels.
In the broader market, the S&P BSE MidCap index gained over 200 points or 1.4 per cent to end at 14,219 while the S&P BSE SmallCap index closed the session at 13,669, up 106 points, or 0.78 per cent.
On a weekly basis, Sensex gained 1.15 per cent while Nifty added 1.26 per cent.
The sectoral trend on the NSE was mixed. While IT and pharma stocks fell, auto, metals and financial stocks gained. The Nifty IT index slipped 1 per cent to 18,004 levels while the Nifty Pharma index ended at 11,333, down 0.6 per cent. On the other hand, Nifty Metal gained 0.85 per cent and Nifty Auto rose 0.75 per cent. Nifty Bank ended 0.5 per cent higher at 21,754 levels.
BUZZING STOCKS
Shares of Bayer CropScience hit an all-time high of Rs 6,449 apiece on the BSE during the day after the company reported encouraging numbers for the quarter ended June 2020 (Q1FY21). The stock ended at Rs 6,139, up 9 per cent. READ MORE
Shares of Lupin ended over 6 per cent lower at Rs 879.40 on the BSE after the pharmaceutical company's net profit for April-June quarter declined 60 per cent on a yearly basis to Rs 106.9 crore. Lupin had posted a profit of Rs 264.7 crore in the corresponding period of the previous year. READ MORE
Shares of Torrent Power rallied 9 per cent to hit a 52-week high of Rs 357.50 on the BSE during the day after the company posted a 35.3 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 372.66 crore against Rs 275.27 crore in the corresponding quarter of the previous fiscal. The stock ended at Rs 337, up nearly 3 per cent.
Further, shares of Mindspace Business Parks REIT on Friday listed on the BSE at Rs 304, a 10.54 per cent premium against its issue price of Rs 275 per share. The stock ended at Rs 303.87.
Further, shares of Mindspace Business Parks REIT on Friday listed on the BSE at Rs 304, a 10.54 per cent premium against its issue price of Rs 275 per share. The stock ended at Rs 303.87.
Global markets
World stock markets tumbled on Friday after US President Donald Trump ratcheted up already-heightened tensions with Beijing by banning US transactions with two popular Chinese apps, Tencent’s WeChat and ByteDance’s Tiktok.
European stocks looked set to recede as well, with Euro Stoxx 50 futures falling 0.3 per cent. S&P500 futures slid 0.5 per cent.
MSCI’s broadest index of Asia-Pacific shares outside Japan lost 1.0 per cent and Hong Kong’s Hang Seng fell 1.8 per cent. Tencent, Asia’s second-biggest company by market capitalisation, dropped as much as 10.1 per cent.
In commodities, oil dipped to around $45 a barrel on worries that a demand recovery would slow due to a resurgence of coronavirus cases, although a pledge from OPEC member Iraq to cut oil output further in August lent support.
(With inputs from Reuters)
4:15 PM
MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services
The unrelenting pace of virus infections and other uncertainties led to the benchmark indices ending flat today with volatile trades. Global cues were also mostly negative, after Asian markets ended in losses following US actions on popular Chinese apps, and anticipating retaliatory action from China.
However, on a weekly basis, Indian benchmark indices ended up by around 1 per cent, following gains in the latter half of this week, on expectations of RBI policy easing to support the economic revival.
Week Ahead
Global markets will be definitely impacted by the heightened US-China tensions and imminent Chinese reaction. Heightened Chinese aggression could have a negative impact on our markets in the near term. However, there could be a silver lining for Indian markets in the long term, with global investors hesitating to invest in Chinese companies. For lack of options, some of this money could find its way into Indian companies, provided the right ecosystem is built. Earnings specific action will likely continue next week, with indices searching for direction in the near term. Accumulation continues the best strategy.
3:42 PM
SECTOR WATCH:: IT, pharma stocks decline
3:41 PM
MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex
3:36 PM
CLOSING BELL
The S&P BSE Sensex ended at 38,041, up 15 points, or 0.04 per cent while NSE's Nifty settled above 11,200 levels at 11,214, up 14 points or 0.12 per cent.
3:25 PM
INDEX GAINER:: Asian Paints trades 4.5% higher
3:15 PM
MARKET CHECK:: RBL Bank up 10%
3:03 PM
June Quarter Result :: Adani Transmission posts profit of Rs 355 cr vs Rs 213 cr YoY
>> Revenue at Rs 2,446 cr vs Rs 2,585 cr YoY
2:54 PM
Click here for the full list
Recovery from intra-day lows in today's session
| COMPANY | DAY'S LOW(RS) | DAY'S HIGH(RS) | LATEST(RS) | RISE(%) |
|---|---|---|---|---|
| GMM PFAUDLER | 4300.00 | 4995.00 | 4926.80 | 14.58 |
| VODAFONE IDEA | 7.64 | 8.88 | 8.73 | 14.27 |
| HONEYWELL AUTO | 27655.00 | 31100.00 | 30799.95 | 11.37 |
| GUJARAT FLUOROCH | 439.25 | 498.60 | 486.00 | 10.64 |
| OMAXE | 65.25 | 72.05 | 72.05 | 10.42 |
2:49 PM
CG Power approves securities subscription agreement with Tube Invt; stk up
Shares of CG Power and Industrial Solutions hit a 5 per cent upper circuit limit of Rs 10.99 apiece on the BSE on Friday after the company informed that its board has approved the execution of a securities subscription agreement (SSA) with Tube Investments of India for the issuance and allotment of securities to it on a preferential basis. READ MORE
2:44 PM
Oil check :: Motilal Oswal Financial Services
2:42 PM
Asian Markets Wrap :: Motilal Oswal Financial Services
2:39 PM
MARKET UPDATE:: Sensex turns green
2:34 PM
Gold ETFs clock 8th consecutive month of positive flows, says WGC
Global holdings have once again reached a new all-time high of 3,785 tonnes and the price of gold hit a record high of 1,976 dollars per ounce by the July-end, leaving global AUMs standing at 239 billion.
Global net inflows of 899 tonnes (49.1 billion dollars) to date are considerably higher than previous annual highs, and the trend of inflows has continued in the first few trading days of August as the price of gold has breached 2,000 dollars per ounce. READ MORE
2:34 PM
BUZZING STOCK:: Asian Paints up 4%; top Sensex gainer at this hour
2:24 PM
Expert View :: Yash Gupta , Equity Research Associate at Angel Broking on Mindspace REIT
Post listing as the stock is trading ~10% above the issue price, traders and short term investors can look to book profits at current levels and lock in the listing gains. From a long term perspective it is one of the good assets class to be invested for similar or better post tax yield as compared to fixed Income with good opportunity for capital appreciation. However given the increasing trend of work from home there are some concerns about the company and the commercial real estate segment in the short to medium term as absorption may remain low in the near future
Topics : Markets Vodafone Idea YES Bank HPCL SpiceJet Avenue Supermarts PNB Housing Finance MARKET WRAP
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First Published: Aug 07 2020 | 7:38 AM IST
