0

0

0

0

0

0

0

0

0

This article is more than 2 month old.

Stock Market Highlights: Sensex, Nifty end flat amid volatility; IT, metals gain; smallcaps outperform

Mini

Stock Market Highlights: Indian equity benchmark indices, Sensex and Nifty gave up most of the day's gains to end flat Wednesday. Broader markets outperformed the benchmarks as the midcap and smallcap indices rose over half a percent each. Among sectors, gains were seen in IT, metals and FMCG sectors, while Nifty Private Banks, Nifty Realty, Nifty Pharma, Nifty Auto and Nifty Media fell the most.

Stock Market Highlights: Sensex, Nifty end flat amid volatility; IT, metals gain; smallcaps outperform
  • Thank you, readers! That's all from CNBC-TV18.com's live market coverage today. Stay tuned for other updates on our website: CNBC-TV18.com

    You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News  

    On Facebook   On LinkedIn   On Instagram   On Telegram  

    You can download our Android and iOS apps from here

  • S Hariharan, Head - Sales Trading, Emkay Global Financial Services

    As with the last few weeks, market breadth has continued to be subdued with large-caps meaningfully outperforming mid & small-caps. While Retail segment long positioning has been coming down, FII net long positioning in single stock futures has gone up to nearly 8 month highs. Narrow market breadth has tended in past instances to lead to pull-backs – however, extremely accommodative monetary conditions in India as well as globally, have provided conditions of extremely shallow corrections.

    The latest pull-back has been led by IT & FMCG names as well as select retail lenders. The IPO market has cooled off meaningfully with 3 out of the last 4 new listings opening below issue price despite strong over-subscription in the issues. This sets up a challenging prospect for the line-up of issues, amounting to Rs 300 bln over the coming month.

    We can expect extremely oversold conditions in Small cap universe to ease, while broader markets continue to trade range-bound.

  • Ajit Mishra, VP - Research, Religare Broking

    The high growth frequency indicators both domestically and globally would dictate the trend for the markets in the near term. Considering markets are trading at record highs, we would recommend remaining selective while trading as well as investing.

  • Deepak Jasani, Head of Retail Research, HDFC Securities

    Nifty lost the intraday gains on Aug 25 and closed almost flat after making a new all-time high. The high low of Aug 25 become important from a near term perspective. The advance-decline ratio ended above 1:1 raising hopes of broader market recovery. Lower than average volumes reflects hesitation on the part of participants to enlarge their commitment on either side. A breakout of the 16,712-16,618 band on the Nifty will determine the near term trend of Nifty.

  • Here are key stocks that moved most on August 25
    The Sensex eased 14.77 points, or 0.03 percent, lower at 55,944.21, while the Nifty ended 10.05 points, or 0.06 percent higher at 16,634.65.
    Stock Market Highlights: Sensex, Nifty end flat amid volatility; IT, metals gain; smallcaps outperform
  • Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities

    The spot rupee closed marginally higher around 74.24 against the dollar in a lackluster day of trading. Volatility has become extinct in the pair as RBI continues to absorb dollar flows. Going into Jackson Hole meeting starting tomorrow evening, we expect USDINR to remain within a range of 74.10-74.40 on spot.

  • Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities

    Nifty hit a fresh record high but failed to close above the 16,700 mark due to profit booking at higher levels. Technically, post the strong pullback rally, the index has formed a double top kind of reversal formation near the 16,700 resistance level, which is broadly negative for the market. However, the larger texture of the market is still bullish, but for day traders the 16,700 levels would act as a major hurdle. Above the same, the uptrend could continue up to 16,750-16,790 levels. On the flip side, a strong possibility of quick intraday correction up to 16,580-16,550 levels is not ruled out if the Nifty succeeds to trade below 16,620.

  • Manish Shah, Founder, Niftytriggers.com

    Nifty failed to breach the previous high at 16,700. On the charts, it is just a minor swing high but a red candle with a bit of a topping tail does suggest that the bulls are taking a pause one day before the August 2021 expiry. It was a rejection candle for the day and towards the end of the day, the tilt was against the bulls.

    There was a clear shift in sentiment towards the close of the day and if Nifty breaches the support at 16,610 there could be a drop towards 16,540-16,525 for the day. On the upside, if Nifty manages to breach 16,700 there should be a rally to 16,800-16,850.

    Of course, how international markets react during the day will also be a significant determinant. If there is a weakness in the international markets Nifty could see a drop. From a pure pattern study, odds favour a tilt on the bearish side on the last day of the expiry.

  • Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

    The markets have once again closed above the 16,600 level which is a good sign. We should be able to scale higher to 16,800-16,850. That would be the next target for the Nifty. It is not advisable to buy at current levels simply because the index has witnessed a one way rally. Hence a "buy on dips" approach would be the best way to address this market. Intraday corrections can be utilized to accumulate long positions.

  • Ashis Biswas, Head of Technical Research at CapitalVia Global Research

    The market witnessed some lackluster movement and an attempt to hold around the Nifty 50 Index level of 16,650. The market shows that it is going to be crucial for the short-term market scenario to sustain above the 16,500 Nifty50 Index level. If the market is unable to sustain the level of 16,500, it can witness lower levels of 16,350. The technical indicator suggests a volatile movement in the market in a small range between 16,350-16,700.

  • Market At Close | Sensex & Nifty slip from intra-day record highs to close flat; Market breadth favours advances; advance-decline ratio at 2:1.

  • Market At Close | Here are the highlights of today’s trading session

    -Sensex & Nifty Slip From Intra-day Record Highs To Close Flat

    -Nifty Hit Intra-day Life High Of 16,712 & Sensex 56,198

    -Nifty Gains 10 Pts To Post Record Closing High Of 16,633 While Sensex Slips 15 Points To 55,944

    -Nifty Bank Under Pressure Ahead Of Expiry, Index Down 126 Points To 35,586

    -Midcap Index Outperforms Sensex & Nifty, Index Closes 86 Pts Higher At 27,363

    -Metal Stocks Fail To Hold Opening Gains; JSW Steel, Tata Steel Down Over 2% From Highs

    -Bajaj Finserv Sees Profit Booking After A Sharp Upmove On Tuesday, Stock Falls Over 3%

    -Reliance Closes With Cuts Despite RBI Approving re-appointment Of CEO

    -SC Relief Fails To Boost Bharti Airtel, Stock Closes With A Cut Of Over 1%

    -IT Majors (Infosys, TCS) & Reliance Help Nifty Close In The Green

    -Escorts Up Over 12% This Week On Kubota’s Strong Outlook for India Business

    -ONGC, OIL & HPCL Move Higher As Crude Continues Its Upmove, Brent Above $70

    -Adani Group Stocks Post Healthy Gains, Adani Ports Up 4%. Adani Ent 3%

    -Market Breadth Favours Advances; Advance-Decline Ratio At 2:1

  • Closing Bell | The Indian equity benchmark indices gave up most of the day's gains to end flat Wednesday. The Sensex eased 14.77 points, or 0.03 percent, lower at 55,944.21, while the Nifty ended 10.05 points, or 0.06 percent higher at 16,634.65. Broader markets outperformed the benchmarks as the midcap and smallcap indices rose over half a percent each.

    Among sectors, gains were seen in IT, metals and FMCG sectors, while Nifty Private Banks, Nifty Realty, Nifty Pharma, Nifty Auto and Nifty Media fell the most. Adani Ports & SEZ, HDFC Life, Hindalco Industries, Coal India and ONGC were the top Nifty50 gainers, while Bajaj Finserv, Titan Company, Maruti Suzuki, Bharti Airtel and Dr Reddy‘s Laboratories were the top index losers. Read here.

  • India may announce overseas listing rules in next budget - govt official

    India may announce rules allowing companies to list overseas in the next budget in February, as some issues are yet to be resolved and are under discussion, Revenue Secretary Tarun Bajaj said on Wednesday.

    The comments confirm a Reuters report that said India would take around six months to announce rules allowing companies to list overseas - taking longer than some expected as the finance ministry irons out issues related to taxation.

  • Words alone won't help auto industry; concrete actions are required: RC Bhargava

    Maruti Suzuki India Chairman RC Bhargava on Wednesday said that while a lot of statements were made by government officials supporting the automobile industry, but when it comes to taking actual steps nothing has really happened.

    Speaking at industry body SIAM's 61st Annual Convention, the veteran industry leader noted that the automobile sector in the country was at a very crucial juncture with declining fortunes in the last few years and it would not revive either with conventional engine vehicles, CNG, biofuels or EVs, unless the question of affordability of cars for the customer is addressed. Read full report here.

  • Commodities Wrap on August 25: Nickel, aluminium gain; gold, silver, oil take a breather
    In the oil market, crude oil slumped 0.7 percent spurred by the loss of a quarter of Mexico's production and signs that China, the world's biggest importer, has curbed a recent coronavirus outbreak.
    Stock Market Highlights: Sensex, Nifty end flat amid volatility; IT, metals gain; smallcaps outperform
  • Minda Industries | ICRA has upgraded the company’s long-term rating to AA+ from AA, outlook stable.

  • NCL Industries sees cement prices dip by Rs 25/bag QoQ; says coal price hike to impact EBITDA/tonne

    After Kotak came out with a note saying that prices in South India have fallen 7 percent month-on-month and 4 percent all over India, cement stocks have been on the radar.

    The cement price on month-on-month basis has been lower by Rs 10-15 per bag. The demand is also slightly down because of the non-availability of sand. Quarter-on-quarter prices on an average are down by almost Rs 25 per bag, said K Ravi, MD, NCL Industries.

    On volumes, Ravi said that they would be able to touch 2.5 million as guided but the EBITDA per tonne may be around Rs 600-800 per tonne and not Rs 1100 per tonne as guided earlier because coal prices have gone up sharply this month. He mentioned that unless coal prices come down, the EBITDA per tonne will also go down. The EBITDA per tonne for the company would be down by around 30-35 percent for the year. However, the EBITDA per tonne for the first quarter was around Rs 1000 per tonne. Read here.

  • Cipla partners with Kemwell Biopharma for undertaking biologic product business

    Cipla has entered into a joint venture agreement with Kemwell Biopharma Private for incorporation of a joint venture company for undertaking the business of developing, applying for and obtaining licenses for and manufacturing, commercialising, importing and exporting biologic products and licensing or outsourcing of any or all such activities.

    Cipla Limited will hold 60 percent stake in the JV company on a fully diluted basis. The JV company is being incorporated with an objective to enter the respiratory biosimilars space, it said.

  • CV market currently at 2 year low; steep fuel prices major hurdle: VECV

    The commercial vehicle (CV) market is at its lowest level in the last two years, said Vinod Aggarwal, MD and CEO, VE Commercial Vehicles in an interview with CNBC-TV18. “Fundamentally for CV, the month-on-month (MoM) sales will be better only because right now the CV market is at the lowest level. Last two to two and a half years, the market has been dropping consistently and it has dropped to a very low level. The figures for July compared to previous July are not comparable. Going forward we are expecting better markets,” he said. The high commodity cost has led to a massive increase in costs. Watch here.

  • Experts talk: How mid-cap and small-cap funds have performed in last few years
    If we look into the data, mid-cap funds and small-cap funds have performed exceeding well over the past year. The S&P BSE MidCap Index, which measures the performance of mid-cap funds, has increased…
    Stock Market Highlights: Sensex, Nifty end flat amid volatility; IT, metals gain; smallcaps outperform
  • Midcap stocks on radar: Borosil Renewables hits 5% upper circuit; BLS International, Bajaj Electricals, HAL at 52-week high

    The broader market outperformed the benchmark indices Wednesday as the Midcap and smallcap indices were trading over half a percent higher as against a flattish trade on the Sensex and Nifty.

    Borosil Renewables shares were locked in the upper circuit of 5 percent after the company's board approved raising capital of up to Rs 500 crore.

    ISGEC Heavy Engineering rallied over 5 percent intraday on the back of order wins for an EPCC Plant in the refinery sector.

    BLS International, Arvind Fashion, Bajaj Electricals and Hindustan Aeronautics touched their respective 52-week highs in the intraday deals.

    Meanwhile, Gillette India is under pressure after the company reported weak earnings for the quarter ended June 2021. Watch here.

  • Varun Lohchab, Institutional Research Analyst, HDFC Securities

    Despite a strong second COVID wave, Nifty consensus of FY22 EPS remains largely unchanged because the impacted sectors have a low weight in aggregate earnings; this would not change unless banks see a material cut in earnings.

    Nifty is trading at ~23x FY22 EPS, after building in ~39% EPS growth in FY22, which can come through, aided by global cyclicals and select large banks. So, while overall EPS estimates are less at risk despite the second wave, the composition of earnings will change if high PE sectors see earnings cut and low PE sectors see earnings upgrades. We believe it will remain a stock pickers’ market in FY22 with bottom-up positive risk-reward investment ideas still available. Markets continue to favour technology (IT services, internet) and export-oriented sectors (chemicals) compared to domestic cyclicals (banks, autos, industrials) which is leading to readjustment of index weights away from financials. Primary market activity level was quite high in Q1.

    Our preferred sectors continue to be Large cap IT and banks, cement, infra and real estate, gas, insurance and capital markets, while we remain underweight on consumption (staples, discretionary and autos), NBFCs, and small banks.

  • Santosh Meena, Head of Research, Swastika Investmart on Poultry sector

    Poultry-related stocks like Venky, Apex frozen and Avanti feeds are seeing strong buying attraction today. There is no clear trigger for today's move but DGFT issued a notification to import 12 lakh tonnes of GM soya cake which was demanded by the poultry industry earlier. Globally we are seeing supply-side issues as well due to flood and flu. The Indian poultry industry is likely to benefit from the ongoing changes in lifestyles and eating habits where organized players may continue to gain market share.

    Technically, Venkys is bouncing back from a strong demand zone of Rs 2,500-2,400 where Rs 2,900-3,000 is an immediate supply zone and if it manages to cross this area then we can expect a strong rally towards Rs 4,000 level. Avanti feed is also bouncing back from its 200-DMA and we can expect a move towards Rs 600 level while any decisive move above Rs 600 level can lead a rally towards Rs 680-700 zone. Water base and Apex frozen are still in sideways trend therefore Venkys and Avanti feed both are more lucrative in this space.

  • Oil edge lower after two-day rally on supply issues

    Oil prices nudged lower on Wednesday, taking a breather after a strong rally this week spurred by the loss of a quarter of Mexico's production and signs that China, the world's biggest importer, has curbed a recent coronavirus outbreak.

    Brent crude futures dropped 9 cents, or 0.1 percent, to $70.96 a barrel, while US West Texas Intermediate (WTI) crude futures fell 19 cents, or 0.3 percent, to $67.35.

  • ICICI bank files cheating case against Karvy Stock Broking; promoter booked for Rs 563 crore fraud

    A case has been registered against Karvy Stock Broking Ltd promoter C. Parthasarathy and others for allegedly cheating ICICI Bank to the tune of Rs 563 crore. According to a press release issued by the police on Tuesday night, the case was booked under Sections 406 (criminal breach of trust), 420, r/w 34 (cheating) of IPC against the accused.

    Funds raised by KSBL by pledging shares of its six bankers were transferred to the firm's own bank accounts, and not into Stock Broker Client Account', which is in contravention with the SEBI guidelines, the police said. Further, all pledges on securities were closed without approval and securities were transferred to end clients of KSBL thereby severely impacting the security of all lenders including ICICI Bank, it said.

Stock Market Highlights: Indian equity benchmark indices, Sensex and Nifty gave up most of the day's gains to end flat Wednesday. Broader markets outperformed the benchmarks as the midcap and smallcap indices rose over half a percent each. Among sectors, gains were seen in IT, metals and FMCG sectors, while Nifty Private Banks, Nifty Realty, Nifty Pharma, Nifty Auto and Nifty Media fell the most.