A Volatile Trading Session
Indian equities witnessed pressure at higher levels, ending little changed in what turned out to be a volatile and rangebound trading session.
The S&P BSE Sensex ended 30 points lower at 50,363 while the NSE Nifty 50 index ended 20 points lower at 14,910. Both benchmark indices have now declined for three straight sessions.
Among the sectoral indices, it was the banking stocks that were the biggest laggards in today's session. The Nifty Bank declined 1% while the PSU Bank index fell 1.3%.
The Metal index too was among the top laggards, ending 0.8% lower. Defensive plays like technology and consumer names outperformed in today's session. The Nifty I.T. index ended with gains of 1.3% while the FMCG index rose 0.9% by the close of trade.
Broader markets outperformed in today's session. The Nifty Midcap index rose 0.4% while the Smallcap index ended with gains of 0.3%.
The India Volatility Index fell to its lowest in over two months, ending 4.2% lower at 20.19.
1,009 stocks on the NSE posted losses while 884 stocks reported gains.
How Did The Sectoral Indices Fare
MTAR Technologies Wins Export Orders
- Wins export orders worth $12.77 million or approximately Rs 93 crore
- Orders received are to be executed over the next fiscal year
- Orders received do not fall within the purview of a related party transaction
PSU Bank Index Among Top Laggards
Gland Pharma Signs Agreement For Sputnik V Vaccine
- To supply up to 252 million doses of RDIF's Sputnik V Covid-19 vaccine
- To leverage its manufacturing capabilities for production of the vaccine for which it will utilise its Drug Substance and Drug Product facilities at its sites in Hyderabad.
- Production expected to commence from the third quarter of 2021 for estimated delivery starting from the fourth quarter.
- Gland Pharma will first undertake technology transfer of the drug substance to its manufacturing facilities, post which the manufacturing of drug substance and drug product filling will take place.
Indian Oil's Asset Monetisation Plans
- In advanced stage of discussions to sell the hydrogen gas unit at its Gujarat refinery, according to chairman SM Vaidya.
- The company expects to complete the sale in Gujarat by the end of the year.
- Indian oil will continue to source hydrogen from the units to be sold.
- Oil secretary Tarun Kapoor said that monetisation of pipelines of state-run oil & gas companies will take more than a year.
From Bloomberg
Ramco Systems Wins Order
- To implement its logistics software at Saudi Arabia's established logistics service provider.
- Logistics software to provide a single integrated system that is capable of providing end-to-end visibility and control of operations.
- LogiPoint's users will now be able to manage operations over their smartphones without needing to log in to another interface.
Benchmark Indices Give Up Gains, Fluctuate
- Nifty up 5 points at 14,935
- Sensex up 0.1% at 50,452
- Nifty Bank down 0.8% at 34,898
- Nifty Midcap index up 0.3%
- Nifty Smallcap index up 0.2%
- India Volatility Index down 4.5% to 20.27
- Nifty I.T. index remains the top sectoral gainer; up 1.6%
- Nifty Metal and PSU Bank index decline 1% each
- Asian Paints remains the top Nifty gainer; up 4%
- Tata Steel remains the top Nifty laggard; down 1.7%
- 941 stocks on the NSE trade with gains while 929 decline
Ray Dalio's Take On The Bond Markets
HG Infra Wins Order
- Wins purchase order worth Rs 122.38 crore from NTPC
- Order for transportation of 26.41 lakh Cu.M. of Pond Ash from NTPC Ramagundam to NHAI-PIU-Mancherial road construction project.
- The timeline for completion of this project is 15 months.
Metal Stocks Lead The Losses
Adani Ports To Build Terminal In Sri Lanka
Dalmia Bharat At Record High
- Top gainer on the Nifty Midcap index
- Gains as much as 5.8% to Rs 1,558
- Biggest single-day gain in a month
- Today's volumes are almost triple its 20-day average
- Stock in overbought territory with Relative Strength Index (RSI) at 72.6
- 26 out of the 27 analysts tracking the stock have a buy recommendation; 1 sell call
- The stock crossed its 12-month Bloomberg consensus price target of Rs 1,515.6 in today's session
Ambit's Bet On Travel-Linked Stocks
Benchmark Indices Hold On To Modest Gains
- Nifty up 0.4% at 14,991
- Sensex up 0.5% at 50,660
- Nifty Bank down 0.3% at 35,075
- Nifty Midcap index little changed
- Nifty Smallcap index up 0.3%
- India Volatility Index down 4.2% to 20.3
- Nifty Metal index is the top sectoral laggard; down 1.5%
- PSU Bank index down 1% while Realty index declines 0.6%
- Nifty I.T. is the top sectoral gainer; up 1.9%
- Asian Paints remains the top Nifty gainer; up 4%
- Tata Steel is the top Nifty laggard; down 2%
- 1,001 stocks on the NSE gain while 822 trading lower
All Stocks On The I.T. Index Gain
Godrej Properties Announces Closure Of QIP
- Real estate player raises Rs 3,750 crore through the QIP issue
- Approves allotment of 2.58 crore shares at an issue price of Rs 1,450.
- Issue price is at a discount of 4.19% to the QIP floor price of Rs 1,513.39 per share
- Shares allotted to investors like Invesco Oppenheimer Developing Markets Fund, Government of Singapore, Goldman Sachs, Universities Superannuation Scheme and Baron Emerging Markets Fund
Tata Communications OFS Opens
Larsen & Toubro Wins Orders
- Water & Effluent Treatment business wins EPC orders from the Rural Water Supply and Sanitation Department, Odisha to execute individual rural water supply projects in Kendrapada & Khorda districts
- Factories arm of the Buildings & Factories business wins order from a leading cement manufacturer in India to construct a 10,000 TPD integrated cement plant in Rajasthan.
- Orders are classified as 'significant' meaning those ranging between Rs 1,000 crore to Rs 2,500 crore.
Firms Poised For Strong Earnings Growth
Benchmark Indices Fluctuate Between Gains & Losses
- Nifty up 0.4% at 14,986
- Sensex up 0.45% at 50,622
- Nifty Bank down 0.2% at 35,111
- Nifty Midcap index up 0.1%
- Nifty Smallcap index up 0.3%
- India Volatility Index down 3.3% to 20.5
- Nifty Metal and PSU Bank indices are the top sectoral laggards; down 1.1% each
- Nifty I.T. index is the top sectoral gainer; up 1.4%
- Most other sectoral indices trade flat
- Asian Paints is the top Nifty gainer; up 2.9%
- JSW Steel is the top Nifty laggard; down 1.3%
- 1,008 stocks on the NSE trade with gains while 744 are declining
IPO Opens For Subscription Today
Also Read: Kalyan Jewellers IPO: All You Need To Know
A Steady Start
Indian equities have opened with steady gains after a two-day drop, tracking gains on Wall Street as well as the Asia-Pacific.
The S&P BSE Sensex opened 0.4% higher at 50,608 while the NSE Nifty 50 opened 0.45% higher at 14,996. Benchmark indices did manage a recovery from the day's low on Monday but ended with losses for the second straight day.
Among the sectoral indices, the Nifty Bank index has opened 0.5% higher, as has the PSU Bank index. The Auto index is up 0.4% while the Nifty Metal index also saw gains of 0.5% at the start of trade. The Nifty Media index was the underperformer, opening 0.3% lower.
Broader markets have opened in-line with the benchmark indices. Both Nifty Midcap and Nifty Smallcap indices have opened with gains of 0.4% each.
1,226 stocks on the NSE have opened higher while 401 are trading with losses.
Current Market Update
Benchmarks At Two-Week Low
Good Morning!
Indian equities fell to a two-week low after declining for the second straight session on Monday. But the benchmarks managed to recover some losses from the lowest point of the day.
The S&P BSE Sensex recovered nearly 600 points, while the NSE Nifty 50 recovered almost 200 points from their respective day's low, courtesy a bounce in metals and technology stocks
For Tuesday's session, futures are indicating a steady start. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 0.3% to 14,990 as of 8:00 a.m.
Apart from the three IPOs that are open for subscription, the issue of Kalyan Jewellers will open on Tuesday.
Asian equities have opened higher this morning after the U.S. stocks hit a record high overnight. Benchmarks in China and Hong Kong edged higher while Japanese, South Korean and Australian markets outperform.
Futures on the Dow Jones are trading 40 points lower. The index rose 0.5% overnight.
Yield on the 10-year treasuries stood at 1.59%. West Texas Intermediate crude fell below $65 per barrel, while Bitcoin fell for the third straight day and is now down over $8,000 from its record high.
Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.
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