MARKET WRAP: Sensex gains 142 pts, Nifty ends at 11,270; pharma stocks zoom
All that happened in the markets today
 "Mumbai Police's Economic Offences Wing fresh notices to 300 NSEL brokers")
Nifty Pharma ended at 11,951.85, up around 5.5 per cent.
The benchmark indices slipped from day's high but still ended in the positive territory on Monday on the back of positive global cues, encouraging quarterly numbers by select pharma companies and the government's push for Atmanirbhar Bharat (Self-Reliant India), where the Ministry of Defence (MoD) announced a phased, year-wise embargo on the import of 101 items of defence equipment.
The S&P BSE Sensex today ended at 38,182, up 141.5 points or 0.37 per cent, with L&T (up nearly 5 per cent) being the top gainer and Reliance Industries (RIL) the biggest loser. During the day, the index hit a high and low of 38,430.69, and 38,073.29, respectively.
NSE's Nifty ended at 11,270, up 56 points, or 0.50 per cent.
The broader market, however, outperformed the frontline indices. The S&P BSE MidCap index gained 1.42 per cent to 14,421 levels and the S&P BSE SmallCap ended at 13,869, up 1.47 per cent.
Sectorally, all the sectoral indices on the NSE ended in the green. Nifty Pharma ended at 11,951.85, up around 5.5 per cent.
Global markets
The broader market, however, outperformed the frontline indices. The S&P BSE MidCap index gained 1.42 per cent to 14,421 levels and the S&P BSE SmallCap ended at 13,869, up 1.47 per cent.
Buzzing stocks
Shares of defence equipment manufacturers and suppliers rallied in the trade after the Ministry of Defence (MoD) announced on Sunday a phased, year-wise embargo on the import of 101 items of defence equipment, invoking the Prime Minister Narendra Modi’s Atmanirbhar Bharat (Self-Reliant India) initiative. Bharat Dynamics hit an all-time high of Rs 465.10 during the trade. The stock ended at Rs 437.30. Bharat Electronics gained over 9 per cent to Rs 108.30. READ MORE
Pharma stocks gained big following healthy quarterly numbers by Cipla, and Divi's Lab. Shares of Divi's Laboratories hit a record high of Rs 3,228.05 on the BSE after reporting 80.61 per cent year-on-year (YoY) rise in consolidated net profit for the June quarter of 2020-21 (Q1FY21). At the close, the share price of the company stood at Rs 3,117, up nearly 12 per cent.
Cipla, too, hit a record high after the firm posted a 20 per cent growth in profit before tax (PBT) for the first quarter of the current financial year to Rs 799 crore, on a 9 per cent year-on-year (YoY) growth in revenues to Rs 4,346 crore. The stock ended at Rs 795.65, up over 9 per cent. READ MORE
Sectorally, all the sectoral indices on the NSE ended in the green. Nifty Pharma ended at 11,951.85, up around 5.5 per cent.
Global markets
European shares rose on Monday as industrial activity in China gained strength, another sign of recovery from the coronavirus pandemic that added to hopes the global economy would also return to health.
The broader Euro STOXX 600 rose 0.6 per cent, with London’s FTSE buoyed 1 per cent and European oil and gas shares climbing 2 per cent on rising oil prices.
The MSCI world equity index, which tracks shares in 49 countries, gained 0.1 per cent. Wall Street futures gauges pointed to a positive start.
In commodities, oil rose, supported by an improvement in Chinese factory data and rising energy demand. Gold prices, on the other hand, fell as the dollar held onto gains made after better-than-expected US payrolls data, while investors kept a close eye on Sino-US relations ahead of scheduled trade talks.
(With inputs from Reuters)
4:15 PM
MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services
Sectoral news flow boosted positivity in the Indian markets with the Pharma index leading the gains. The gains were news-driven, with earnings results and government actions accounting for sectoral gains. Earnings results of select pharma companies drove gains in the sector while government actions to boost domestic defence productions helped gains in defence stocks. With valuations going high, investors are advised to remain cautious and nimble with their investments.
3:45 PM
SECTOR WATCH:: Nifty Pharma rallies nearly 5.5%
3:44 PM
Top gainers and losers on the S&P BSE Sensex at close
3:42 PM
MARKET AT CLOSE
3:41 PM
Markets at close
Sensex ends 142 points higher at 38,182, Nifty settles 56 points higher at 11,270
3:27 PM
Amara Raja Batteries trading strong post Q1 nos
3:20 PM
AGR Case :: Want to go into cause of initiation of insolvency for telcos under IBC, says Justice Arun Mishra
>> Says, we want an understanding of their outstanding liabilities, urgency in pushing for insolvency
3:19 PM
NEWS ALERT :: AGR hearing begins
3:19 PM
» More on 52 Week High
Stocks that hit 52-week high on BSE today
| COMPANY | PRICE(rs) | 52 WK HIGH | CHG(%) |
|---|---|---|---|
| ABB POWER PRODUC | 938.00 | 944.00 | 6.49 |
| AJANTA PHARMA | 1728.90 | 1759.35 | 2.20 |
| AUROBINDO PHARMA | 954.85 | 967.60 | 5.32 |
| BHARAT DYNAMICS | 438.00 | 465.10 | 4.52 |
| BIRLASOFT LTD | 147.60 | 151.00 | 3.33 |
3:13 PM
AGR Case :: Telecom stocks trade mixed ahead of hearing
| COMPANY NAME | LATEST | HIGH | LOW |
CHG (rs) | CHG(%) |
VALUE (rs CR) |
|---|---|---|---|---|---|---|
| VODAFONE IDEA | 9.15 | 9.19 | 8.82 | 0.32 | 3.62 | 52.94 |
| QUADRANT TELE. | 0.19 | 0.20 | 0.19 | 0.00 | 0.00 | 0.02 |
| RELIANCE COMMUNI | 2.65 | 2.65 | 2.65 | -0.13 | -4.68 | 0.28 |
| BHARTI AIRTEL | 556.80 | 565.05 | 555.00 | -3.80 | -0.68 | 37.26 |
3:07 PM
Sector Watch :: All 10 constituents of the Nifty Pharma index trade higher
2:56 PM
RIL top Sensex loser at this hour
2:55 PM
BUZZING STOCK:: Mastek surges around 10%
2:46 PM
M&M's tractor sales momentum crucial for uptick from current levels
While tractor sales have recovered, the company’s market share fell to 39.1 in the quarter as compared to 41.2 per cent in FY20. Its listed peer Escorts reported a 12 per cent fall amid a sharper recovery in May and June. M&M highlighted that supply side issues have been responsible for the fall in sales and loss of market share. READ MORE
2:32 PM
NEWS ALERT :: China will sanction 11 US officials in retaliation for restrictions imposed by Trump on Hong Kong officials, reports Bloomberg
>> Those sanctioned include Senators Marco Rubio, Ted Cruz, Tom Cotton and Pat Toomey; Congressman Chris Smith; Human Rights Watch Executive Director Kenneth Roth; National Endowment for Democracy President Carl Gershman; and Michael Abramowitz, the president of Freedom House, Chinese Foreign Ministry spokesman Zhao Lijian told a briefing in Beijing on Monday.
Alert: The US said Friday that it was placing sanctions on 11 Chinese officials and their allies in Hong Kong, including Chief Executive Carrie Lam, over their roles in curtailing political freedoms in the former British colony
Alert: The US said Friday that it was placing sanctions on 11 Chinese officials and their allies in Hong Kong, including Chief Executive Carrie Lam, over their roles in curtailing political freedoms in the former British colony
Topics : Coronavirus Markets Bharti Airtel Reliance Industries Vodafone Idea Adjusted gross revenue Bank of Baroda Titan MARKET WRAP
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First Published: Aug 10 2020 | 7:31 AM IST
