Sensex rallies for 3rd day, gains 145 pts; Nifty ends at 16,563; RIL up 1%
The advance-decline ratio remained skewed in favour of seller, highlighting underlying bearishness in market.
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Benchmark indices surged to fresh record high levels, defying global market mood, amid gains in RIL, Tata Steel and financial stocks. The BSE barometer Sensex hit a new high of 55,681 in trade and settled at 55,583, up 145 points or 0.26 per cent. Meanwhile, NSE Nifty closed shop 34 points or 0.21 per cent higher at 16,563. It had jumped to a fresh peak of 16,589.
However, the advance-decline ratio remained skewed in favour of seller, highlighting the growing polarised nature of the markets.
The broader markets too came under pressure. The BSE Smallcap index lost 0.57 per cent and BSE Midcap index shed 0.18 per cent.
Sectorally, only Nifty Metal, FMCG and Financial Services witnessed buying while Nifty Media, PSU Bank and Auto indices faced selling pressure. Volatility also surged as India VIX rose 3.6 per cent to 13.45.
Globally, futures on the S&P 500 and Nasdaq fell 0.2 per cent each. The Stoxx Europe 600 declined 0.5 per cent and the MSCI World index was down 0.2 per cent.
3:51 PM
TECH VIEW :: Rohit Singre, senior technical analyst at LKP Securities
Nifty started a week on a positive note and closed a day at 16,563 with minimal gains forming a small bullish candle on the daily chart. Traders can use the dip to make fresh longs near good support zone. The index has a good support near 16500-16440 levels, but faces resistance near 16600-1650 levels, charts show
3:48 PM
MARKET COMMENT :: Vinod Nair, head of research, Geojit Financial
The domestic market failed to maintain its momentum and traded on a flat note throughout the day as selling was witnessed in the key sectors amidst weakness in global markets. India’s WPI inflation eased for the second consecutive month to 11.16% in July against 12.07% in June as food and crude prices softened. Metals outshined other indices backed by better quarterly earnings. Due to weaker-than-expected Chinese economic data and surge in virus outbreaks, global indices traded under pressure
3:45 PM
Sensex up 145 points
3:44 PM
Nifty ends 34 points higher
3:43 PM
Nifty snapshot
3:42 PM
Sensex heat map
Bajaj Finance, RIL, Tata Steel save the day for markets
3:18 PM
Tata Steel soars 5%, hits new record high post June quarter results
Shares of Tata Steel hit a new record high of Rs 1,532 as they rallied 5 per cent on the BSE in intra-day trade on Tuesday after the company reported a consolidated net profit of Rs 8,907 crore in the June quarter (Q1FY22) as against a loss of Rs 4,416 crore in the corresponding period last year on the back of increased revenue and low base on account of Covid-19’s first wave last year. READ MORE
2:47 PM
With 4.3% returns on average, most PMS schemes beat Nifty in July
July was a good month for PMS schemes, with 252 out of 261 schemes under consideration outperforming the Nifty50. The schemes returned 4.5 per cent on average, better than the 0.3 per cent given by the benchmark. Better performing strategies in July included Right Horizon’s Minerva India Under-served (22.9 per cent), Aequitas Investment Consultancy’s India Opportunities Product (14.9 per cent) and Green Lantern Capital’s Growth Fund (14.6 per cent), the data from PMS Bazaar showed. READ MORE
2:18 PM
Commodity watch: Crude oil
Crude oil prices traded lower on weak demand outlook from China and fast spreading virus infections. Crude oil prices fell for the third day after China factory output and retail sales data disappointed market expectations. China's crude oil processing last month also fell to the lowest on a daily basis since May 2020.
Crude oil prices are expected to trade down for the day with resistance at $69 and support at $65 per barrel. MCX Crude oil August has support at Rs. 4910, resistance at Rs.5060
(Source: HDFC Securities)
(Source: HDFC Securities)
2:17 PM
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FII trends
DATE | BUY VALUE (rs CR) | SALE VALUE (rs CR) | NET VALUE (rs CR) |
12-Aug-2021 | 6768.43 | 6478.59 | 289.84 |
11-Aug-2021 | 7348.18 | 7051.06 | 297.12 |
10-Aug-2021 | 6693.77 | 6773.92 | -80.15 |
09-Aug-2021 | 6223.03 | 5778.10 | 444.93 |
06-Aug-2021 | 6676.76 | 6518.74 | 158.02 |
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2:15 PM
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Most auto stocks trade weak
Company | LATEST(rs) | CHG(%) |
Ashok Leyland | 128.50 | -1.42 |
M & M | 797.85 | 2.45 |
Tata Motors | 303.95 | -1.03 |
TVS Motor Co. | 535.95 | -3.16 |
Escorts | 1271.00 | -0.14 |
2:14 PM
Sensex heat map :: RIL, Bajaj Finance among key gainers
2:13 PM
Market check
1:45 PM
RIL gains nearly 3% on reports of Aramco eyeing stake buy in its O2C biz
Shares of Reliance Industries (RIL) were up nearly 3 per cent at Rs 2,202 on the BSE in intra-day trade on Monday on a report that Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in the company’s oil refining and chemicals (O2C) business. The stock of the Mukesh Ambani-led RIL was trading at its highest level since June 24, 2021. It had hit a record high of Rs 2,368.80 on September 19, 2020. READ MORE
1:39 PM
Mid-market view | Gaurav Garg, Head of Research at CapitalVia Global Research
Indian benchmark had a cautious start today with slight negativity in the market around the level of 16500 as there is no major changes in the market. Traders and investors remained cautious as according to a private report India is unlikely to become the 5 trillion economy by 2025 due to the slow down caused by the covid 19 pandemic. Sentiments remain intact and poised towards positivity as the government focuses more on the infrastructure in the coming time which will help the economy reach new heights. Our research suggests that 16350 is an important support level in the short term, if the market sustains above this level, we can expect the market to remain positive and gain momentum, leading to an upside projection till 16700-16750 level.
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First Published: Aug 16 2021 | 7:53 AM IST