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Closing Bell
Key stock indices bounced back sharply from yesterday's fall mainly taking cues from strong global markets. US market and Asian markets went up after US President Donald Trump backed off his September 1 deadline for 10 per cent tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods. This was seen as a big relief to the falling markets and markets opened sharply higher.
Also, there were some rumours amid media reports indicating that there could be some relief from the surcharge on super-rich in coming days which sustained the gains for the day.
After opening stronger at 37,233.50, the Sensex touched an intraday high of 37,473.61, before settling at 37,311.53, up by 353.37 points or 0.96% over its previous close.
Similarly, the NSE Nifty, which opened higher at 11,003.25, ended at 11,029.40, up 103.55 points from its previous close.
Sectoral indices such as Banking, Auto, Media, Metal, Financial Services, FMCG and Metal rose between 1 per cent and 2.75 per cent.
However, Pharma index performed poorly today on the back of selling pressure in pharma stocks. While the biggest loser was Glenmark, which lost nearly 8 per cent or Rs 32.35 to Rs 383.25, Sun Pharma was down 5.18% to Rs 416.50 and Lupin has shed nearly 2% to Rs 734 on the NSE today.
NSE SECTORAL INDICES
NSE SECTORAL INDICES
Pharma stocks
Sensex stocks
Apollo Hospitals stock climb nearly 3 per cent
Apollo Hospitals Enterprise shares rose nearly 3 per cent or Rs 38 at Rs 1,362 on the BSE today. Volumes spurted to 1.44 lakh shares in the counter against Two-week Average volume of 35,000 shares.
Apollo Hospitals intraday chart
NSE SECTORAL INDICES
BSE LARGE MIDCAP INDEX
Large Mid-cap Stocks on BSE
BSE LARGE MIDCAP INDEX
Sensex stocks
Nifty Bank index
Tata Power continues to fall for the fifth straight session
Tata Power Company Ltd fell for a fifth straight session today. The stock is quoting at Rs 55.40, down 0.75% at 2:15 p.m on the BSE. Volumes traded in the counter were 4.56 lakh shares on the BSE against the 2-week average quantity of 5.90 lakh shares
The Sensex is being quoted at 37342.32, up 1.04% and the benchmark Nifty is up around 1% on the day, quoting at 11035.15.
Tata Power had declined around 19.62% in last one month.
Meanwhile, Nifty Energy index of which Tata Power Company Ltd is a constituent, has lost around 5.24% in last one month and is currently quoting at 14,618.15, up 1.35% today.
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Dr Reddy's Lab shares slump as US FDA hands out complete response letter
Drugmaker Dr.Reddy's Laboratories Ltd's shares fell as much as 8% to Rs 2,351.20 , their lowest since February 15. However, the stock recouped some of the losses in the afternoon session. At 2 p.m, the stock was being quoted at Rs 2,501.05, down by Rs 56.95 or 2.23% on the BSE.
Sun Pharma Q1: Stock falls despite strong operational performance
Markets don’t seem to be impressed by the good set of numbers from Sun Pharma .
The stock of the company has declined over 6 per cent since morning today despite the company having reported strong operational performance for the first quarter of 2019-20.
VOLUME GAINERS ON NSE
Volume Gainers on NSE
Nifty Call: Buy in dips with a fixed stop-loss at 10,990 levels
Nifty 50 August Futures (11,039)
The key benchmark indices — the Sensex and the Nifty began the session in positive territory, taking cues from the bullish global markets. The Dow Jones had gained 1.4 per cent to 26,279 and S&P 500 gained 1.5 per cent to 2,926 in last session.
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Stock markets await Nirmala Sitaraman's decision on LTCG
Following the blood bath on Tuesday, stock market eyes are now on Finance Minister Nirmala Sitharaman. After a meeting with top foreign fund managers and corporate honchos on August 9, she declared that positive announcements will be made soon on corporate tax
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More than super-rich tax, the dull equity market is putting FPIs off
After all, they continue to invest in debt even when paying the levy on the interest income
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Stock market rises on expectation that the Centre will offer some relief
Risks in India's banking sector may rise, says Fitch Ratings
Risks in India's banking sector may rise as a result of the central bank's recent steps encouraging banks to lend more to Non-Bank Financial Institutions (NBFIs) and retail borrowers, according to Fitch Ratings.
Kaveri Seeds up 5% after Q1 results
Despite a drop in acreage under key crops in 2019-20 due to delay in onset of monsoon, Kaveri Seeds has reported good numbers for June quarter 2019. On standalone basis, net sales reported growth of 12.6 per cent Y-o-Y, and profit growth was 8.7 per cent.
File photo
Broker's call: SpiceJet (Buy)
ICICI Securities
CMP: ₹127.95
Target: ₹175
SpiceJet reported better than expected performance driven by higher topline (driven by 11 per cent growth in fares). Company reported PAT of ₹262 crore, but it includes expected reimbursement of ₹114 crore from Boeing on account of MAX grounding. Adjusting for it, PAT would be ₹150 crore (I-Sec: ₹112 crore).
Reliance Infrastructure rises after Q1 profit jump
Shares of Anil Ambani-led Reliance Infrastructure Ltd rise as much as 12.9% to Rs 50.85.
The company on Tuesday posted 20% jump in net profit to Rs 299 crore ($42.15 mln), aided by 6.3% jump in revenue from the power generation business
Silver touches all-time high of Rs 45,000; gold falls Rs 100
Silver prices on Tuesday soared Rs 2,000 to touch an all-time high mark of Rs 45,000 a kg, while gold declined by Rs 100 to Rs 38,370 per 10 gram in the national capital, according to the All India Sarafa Association.
Trade war: Trump bows to economic fears in move to delay China tariffs
US President Donald Trump bowed to pressure from US businesses and concerns over the economic fallout of his trade war with China, delaying the imposition of new tariffs on a wide variety of consumer products including toys and laptops until December.
CPI inflation in July falls, but it can move up in the coming months
Increase in food prices, higher core inflation and volatility in crude prices can add upward pressure on inflation.
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Hathway Cable , DEN rise on Reliance fibre optic broadband plan
Shares of cable TV and broadband service providers Hathway Cable and Datacom Ltd and Den Networks Ltd rise as much as 15.6% and 7%, respectively
Reliance Industries on Monday unveiled plans to launch high-speed internet services in India, in tie-up with Microsoft
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Acquisition will give RIL direct access to MSOs’ vast broadband infrastructure and large pool of pay cable TV subscribers
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Cotton drives Kaveri Seed's revenues; PAT up at Rs 229 cr
The Board of Directors of Kaveri Seed Company has recommended an interim dividend of 150 per cent, or Rs 3 on each share of Rs 2 each, for the financial year 2019-20. It set August 23, 2019, as the record date for this purpose.
For the quarter ended June 30, 2019, the company reported a revenue of Rs 660 crore as against Rs 599 crore in the same period, the last financial year.
NSE Nifty breaks above key 11,000 levels; may retest support range of 10,828 - 10,782 levels
The NSE index Nifty is likely to test a support at 10,917.51, before falling further into the range of 10,828.46 to 10,782.60.
The range is identified as the 38.2% Fibonacci projection level of the downtrend from July 17 high to Aug 5 low and the low hit on Aug 5 .
Glenmark Pharma hits over 7-year low after Q1 profit misses estimates
Shares of Glenmark Pharmaceuticals Ltd fall as much as 7.24% to Rs 385.5, their lowest since August 3, 2012
The pharma major posts a 53% drop in June quarter profit to Rs 109 crore.
FinMin kickstarts credit-support plan for NBFCs
The Finance Ministry has come out with a scheme to operationalise the Budget announcement of a partial credit guarantee facility for public sector banks worth ₹1-lakh crore for the purchase of high-rated pooled assets of financially sound non-banking financial companies (NBFCs) and housing finance companies (HFCs).
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India Inc seeks Rs 1 lakh cr stimulus package to kick-start investment cycle, revive growth
The Finance Minister and ministry officials met captains of the industry to deliberate upon the issues about the economy and sagging industrial growth.
10.10 am
Day Trading Guide for August 14, 2019
₹2220 • HDFC Bank
₹764 • Infosys : Sell Infosys if stock fails to move above Rs 770
Rupee up 48 paise in early trades
The rupee rose by 48 paise to 70.92 against the dollar in early trade on Wednesday amid market recovery across Asia.
Forex traders said the recovery was mainly due to Trump's decision that delayed tariffs on some Chinese imports and that gave much-needed relief for markets gripped by political and economic turmoil.
At 9.50 am, the rupee opened firmer at 71.00, then edged up a high of 70.85, before being quoted at 70.92 against the American currency, gaining 48 paise from its previous closing price.
The Indian rupee on Tuesday had closed at 71.40 against the US dollar.
Reliance Ind intraday chart
Vedanta intraday chart
Tata Steel Intraday chart
Sensex stocks
Sensex, Nifty bounce back
Key stock indices bounced up sharply from yesterday's fall taking cues from other Asian peers. US market and Asian markets went up as US President Donald Trump backed off his September 1 deadline for 10 per cent tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods.
After opening higher at 37,233.50, the Sensex was being quotea at 37,145.62, up by 187.46 points from its previous close.
The NSE Nifty, which opened higher at 11,003.25, is now quoted at 10,981.10, up 55.25 points from its previous close.
Following the RBI announcement, the BSE 30-share index 1.38 per cent. File Photo
Today's Pick: Manappuram Finance (₹116.3)
Investors with a short-term perspective can sell the stock of Manappuram Finance at current levels. The stock has been on a short-term downtrend.
Asian markets bounce in relief as Trump delays China tariffs
Asian markets joined a global equities surge on Wednesday, after Washington delayed tariffs on some Chinese imports and gave much-needed relief for markets gripped by political and economic turmoil.
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