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Stock Market Highlights: Sensex, Nifty end with minor gains; Smallcap index falls over 2%; metals, PSU banks top losers

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Stock Market Highlights: Indian equity benchmarks Sensex and Nifty ended Tuesday's volatile session flat with metals and banking stocks dragging the most. Broader markets, midcap and smallcap indices declined over 1-2 percent each. Among sectors, sharp losses were seen in metal, PSU banks, realty and media indices, while Nifty IT ended in the green.

Stock Market Highlights: Sensex, Nifty end with minor gains; Smallcap index falls over 2%; metals, PSU banks top losers
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  • Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities

    Even as markets witnessed sharp volatility, benchmark Nifty surpassed intraday resistance of 16,300. The sharp intraday correction from 16,359 to 16,202 clearly indicates uncertainty between bulls and bears. In the broader market, over 1500 stocks traded in the red, whereas about 265 stocks closed in positive which is broadly negative for the market. Technically, on daily charts the Nifty has formed a Doji kind of formation which indicates strong possibility of intraday correction if the index succeeds to trade below 16,180. We are of the view that as long as it's trading above 16180 the uptrend texture is bullish and likely to continue up to 16,350. Further upside may also continue which could lift the index up to 16,400. On the other side, below 16,180, the correction wave will continue up to 16,150-16,120 levels.

  • Ajit Mishra, VP - Research, Religare Broking

    Markets traded volatile for yet another session and ended marginally in the green. Banks and financials pack are largely helping the index to sustain at these levels while broader indices are seeing continuous profit-taking. Considering the scenario, we advise keeping extra caution in the selection of trades and preferring the sectors/stocks which are trading in line with the trend.

  • Nagaraj Shetti, Technical Research Analyst, HDFC Securities

    The Nifty continues to trade in a narrow range with volatility and this market action could continue for the next session. After the upside breakout of the broader range recently, the Nifty sustaining with the upside breakout could be a positive indication with regards to a trend of index. A decisive move above 16,360 is expected to open next upside towards 16,500 levels in the near term. Immediate support is placed at 16,200-16,150 levels.

  • Vinod Nair, Head of Research at Geojit Financial Services

    Domestic market remained highly volatile as the early gains were trimmed off following selling pressure in global markets. Concerns over an early withdrawal of asset purchase programs by the Federal Reserve and US CPI inflation data to be released this week impacted the global market. However, strong support from large caps, especially from sectors like finance and IT, helped domestic main indices to end on a positive note. After a steady rally during the previous months, the small and mid-cap stocks are witnessing consolidation for the past few trading sessions while buying interest has shifted to large caps. The third wave of Covid and fall in liquidity will be a lethal combination for highly-priced mid & small caps.

  • Here are key stocks that moved the most on August 10
    The Sensex gained 151.81 points, or 0.28 percent, to end at 54,554.66, while the Nifty closed 21.85 points, or 0.13 percent higher at 16,280.10.
    Stock Market Highlights: Sensex, Nifty end with minor gains; Smallcap index falls over 2%; metals, PSU banks top losers
  • Rahul Sharma, Co- Founder, Equity99

    Small correction or a cyclic profit booking will surely hit the market, but Indian Market is clearly going to outshine in coming days, The investors don't need to panic at all, the stocks with strong fundamentals still have huge potential and will defiantly outperform in coming days. This sell-off is very much temporary and will be treated as an opportunity for Averaging good stocks in the coming days.

  • Mohit Nigam, Head,  PMS - Hem Securities

    Technically, benchmark indices are doing pretty well and intend to continue its bull run keeping support at 16,100 with a near term resistance at 16,400 and markets are capturing any significant dip as a good opportunity to invest.

  • Manish Shah, Founder, Niftytriggers.com

    Nifty50 settled on a flat note but continues to hold above the gap support at 16,162-16,188. As long as this support holds the market should hold higher. A break below the support at 15,950 could result in a decline towards 16,000 odd levels which is again a buying area. In the last couple of days, Nifty has seen narrow ranged candles which are a series of “Doji patterns” Several Doji candles in a row does suggest that the sentiment and the direction in the market is absent at least on the short-term basis.

    The price action in Nifty remains bullish though there is not much of a headway in the markets. Nifty is still a break above the R3 pivot on the Weekly pivot of the previous week. Nifty needs a pop above 16,350 for more upsides towards 16,450 and above that to 16,800. The directional movement system and MACD are in a bullish mode. Probabilities favour a rally to 16,450 over the next couple of days. Nifty is trying out the patience of traders in the context and the interest has again shifted to large caps.

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

    The markets climbed well above the 16,300 mark and seemed all poised to close above it too. However, there was a sharp and nervous sell-off mid-day which brought the index close to 16,200. We recovered well but did not close above the 16,300 level. Once we are successful in doing so, we will witness a rally to 16,600 as the next target for the Nifty.

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

    The market witnessed the continuation of trading within a small range and a reversal from the support level around the Nifty 50 Index level of 16,200. The market is going to be crucial for the short-term scenario to sustain above the 16,200 Nifty50 Index level. Sustaining above 16,200, the market expects to gain momentum, leading to an upside projection till 16,450-16,500 level. The momentum indicators like RSI and MACD indicating a positive outlook to continue.

  • Rupee At Close | The Indian rupee ended 17 paise lower at 74.43 amid volatility in the domestic equity market. The local unit opened 15 paise lower at 74.41 per dollar against the previous close of 74.26 and traded in the range of 74.33-74.47.

  • Market At Close | Market breadth slips in favour of declines today; advance-decline ratio at 1:6

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

    - Market Gives Up Record Levels, Sensex & Nifty End With Minor Gains

    - Nifty Ends At 16,280.10 After Attaining A Fresh Record High Of 16,359 Earlier

    - Sensex Sheds Nearly 200 Points From The Top To End At 54,585.62

    - Midcap Index Ends With Losses Of Nearly 300 Points, At 27,439.25

    - Steel Stocks Lag The Most On Index After Shree Cement’s Q1 Fails To Impress Street

    - All Sectoral Indices Except Nifty IT End In The Red; Nifty Metal Down 3%

    - Bharti Airtel Notches A New Record Of `628/Sh After Ending 1% Lower Yesterday

    - Motherson Sumi Ends At 3-month Low After Co Says Cons Net Debt Has Risen QoQ

    - Coal India Ends Below 100-DMA After Q1 PAT & EBITDA Come In Lower YoY

    - Market Breadth Slips In Favour Of Declines Today; Adv-Dec Ratio At 1:6

  • Closing Bell | The Indian equity benchmark indices ended Tuesday's volatile session with minor gains amid mixed global cues. The Sensex gained 151.81 points, or 0.28 percent, to end at 54,554.66, while the Nifty closed 21.85 points, or 0.13 percent higher at 16,280.10. Broader markets underperformed the benchmarks as the Nifty Smallcap100 fell 2.3 percent and the Nifty Midcap100 ended 1 percent lower.

    Among sectors, metal, PSU banks, realty and media indices declined over 2 percent each, while Nifty IT  and Nifty Financial Services ended in the green. Bharti Airtel, Tech Mahindra, HDFC, Kotak Mahindra Bank and M&M were the top gainers on the Nifty50, while Shree Cements, JSW Steel, Tata Steel, Hindalco Industries and Power Grid Corporation were the top index losers. Read here.

  • Mirae Asset Global Investments bullish on China equities after recent correction: CIO Rahul Chaddha

    Mirae Asset Global Investments is bullish on Chinese equities after a recent correction following the country's regulatory crackdown on various sectors, including tech, property and education, Chief Investment Officer Rahul Chaddha said."China looks attractive on a risk-reward basis," Chaddha, who manages USD 215 billion in assets, told the Reuters Global Markets Forum (GMF). (Read more)

  • Deepak Fertilisers & Petrochemicas profit rises 6.6% to Rs 128 crore

    Deepak Fertilisers posted a 6.6 percent year-on-year rise in net profit to Rs 128 crore for the quarter ended June 30. Revenue grew 37.6 percent to Rs 1,902.1 crore. 

    The company's EBITDA rose 6.6 percent to Rs 290.3 crore, and the EBITDA margin came in at 15.3 percent, as against 19.7 percent in the corresponding period a year ago. 

    Deepak Fertilisers shares were locked in the lower circuit at 5 percent at Rs 442.90 apiece on BSE in the final minutes of trade, underperforming the headline Sensex index, which was up 0.24 percent. 

  • Manappuram Finance profit rises 25.6% YoY to Rs 417.5 crore; NII up 13.2% 

    Manappuram Finance reported a net profit of Rs 417.5 crore for the quarter ended June 30, up 25.6 percent on a year-on-year basis. Its net interest income -- a key metric for financiers -- grew 13.2 percent to Rs 1,070.2 crore. Manappuram Finance's provisions came in at Rs 122.25 crore in the first quarter of the current financial year, up 14.7 percent sequentially. (QoQ)

    Manappuram shares traded 3.43 percent lower at Rs 194.05 apiece on BSE, underperforming the headline Sensex index, which was up 0.33 percent. 

  • Guess who is helping RBI in spreading financial awareness

  • Coal India Q1 profit jumps 53% to Rs 3,174 crore, misses Street estimates; shares down 1% 

    State-run Coal India reported a 52.8 percent year-on-year rise in net profit to Rs 3,174.1 crore for the quarter ended June 30, missing Street estimates. Revenue grew 36.8 percent to Rs 25,282.1 crore for the April-June period. 

    Analysts in a CNBC-TV18 poll had estimated the company's net profit at Rs 3,805 crore, and revenue at Rs 24,400 crore. 

    The coal behemoth's EBITDA increased 58.7 percent to Rs 4,843.8 crore, and the EBITDA margin rose to 19.2 percent from 16.5 percent in the year-ago period. Analysts had expected the EBITDA at Rs 5,300 crore and the EBITDA margin at 21.7 percent. 

    Shares in Coal India traded 0.98 percent lower at Rs 141.90 apiece on BSE in late afternoon deals, underperforming the market. The S&P BSE Sensex benchmark was up 0.24 percent at 54,534.07, having clocked an all-time high earlier in the day. 

    Stock Market Highlights: Sensex, Nifty end with minor gains; Smallcap index falls over 2%; metals, PSU banks top losers
  • Banks show interest in funding stalled projects of Amrapali group: NBCC

    State-owned NBCC said banks have shown interest in providing funds to complete the stalled projects of the now-defunct Amrapali group. On July 23, 2019, the Supreme Court had ordered the cancellation of the registration of Amrapali Group under the real estate law RERA. The top court had directed NBCC to complete the stalled projects.

    NBCC said that the monitoring committee appointed by the Supreme Court convened a meeting on Monday with nationalised and private banks to discuss the financing for Amrapali projects. NBCC's Executive Director was present in the meeting.

    "Post MoU signing of Ld Court Receiver with SBICAP Ventures Ltd for funding 6 Amrapali Projects at Noida and Greater Noida last week, other reputed banks have shown interest in funding the stalled Amrapali Projects," NBCC said. (Read more)

  • FMCG major Keventer Agro files IPO papers with Sebi

    Food and beverage major Keventer Agro has filed draft papers with capital markets regulator Sebi to raise funds through an initial public offer (IPO). The IPO will comprise fresh issuance of equity shares worth Rs 350 crore and an offer of sale (OFS) of 10,767,664 equity shares by Mandala Swede SPV, according to the draft red herring prospectus (DRHP). (Read more on Keventer Agro's proposed IPO)

  • Sensex tumbles over 450 points from record high, Nifty cracks below 16,250

    The S&P BSE Sensex index tanked 470.89 points from an all-time high of 54,779.66 hit earlier on Tuesday to hit 54,308.77 on the downside in late afternoon deals. The broader NSE Nifty50 benchmark, which had scaled an all-time high of 16,359.25 earlier during the session, slid to as low as 16,202.25. 

    Selling pressure in auto, metal, PSU banking and pharma stocks weighed on the market. Broader markets bled too, with the Nifty Midcap 100 and Smallcap 100 indices falling around 2 percent each.

    NSE's India VIX index -- which gauges the expectation of volatility in the near term -- traded 2.73 percent higher at 12.95, having spiked as much as 3.65 percent during the session. 

  • Dollar hits 4-month high against euro on Fed taper talk

    The dollar hit a four-month high against the euro after upbeat US jobs data bolstered expectations that the US central bank could soon start to taper its massive bond-buying programme.

    Stock Market Highlights: Sensex, Nifty end with minor gains; Smallcap index falls over 2%; metals, PSU banks top losers
  • Lenders in 'wait & watch' mode ahead of final verdict on Future-RIL deal

    Lenders to Kishore Biyani-led Future Group are a worried lot, with the fate of its proposed Rs 24,713 crore deal with Reliance Industries hanging in balance. Several of the key lenders to Future Group that CNBC-TV18 spoke to expressed concerns about the firm’s debt serviceability, and are in a 'wait and watch' mode ahead of the final ruling on the deal in Singapore courts.

    Banks are weighing their options, and without the Reliance deal, they will face steep haircuts on their exposure of over Rs 26,000 crores to the group, said several banks CNBC-TV18 spoke to.  From taking the company to bankruptcy courts, to debt conversion into equity to the refinancing of loans, banks said all options are on the table. (Read more)

    Stock Market Highlights: Sensex, Nifty end with minor gains; Smallcap index falls over 2%; metals, PSU banks top losers
  • Motherson Sumi Q1 results: Net profit at Rs 289.6 crore, revenue up 93.5% YoY 

    Motherson Sumi Systems reported a net profit of Rs 289.6 crore for the quarter ended June 30. It had posted a net loss of Rs 810 crore for the corresponding period a year ago. Its revenue roes 93.5 percent on a year-on-year basis to Rs 16,157.4 crore. The company's EBITDA (ex-domestic wiring harness business) came in at Rs 1,220 crore for the three-month period, as against an EBITDA loss of Rs 551 crore in the year-ago period. 

    The company's debt stood at Rs 6,158 crore at the end of June, as against Rs 4,807 crore at the end of March.

    The company said supply chain disruptions due to shortages of semiconductors and other material are likely to be headwinds going forward. It expects the situation to improve from the second half of the current financial year. 

    Motherson Sumi Systems shares 1.86 percent lower at Rs 226.60 apiece on BSE in afternoon deals, having briefly traded in positive territory following the earnings announcement. Headline index Sensex was up 0.52 percent at the time. 

  • Nifty50 has strong support at strong support at 16,200-16,170 levels: Santosh Meena of Swastika Investmart

    "The Indian market is outperforming on the back of buying in large-cap stocks like the HDFC twins, Kotak Bank and Reliance. Nifty hit a fresh all-time high but midcap and smallcap stocks are struggling as DIIs are net sellers for the last few days and HNI investors are busy in the primary market," said Santosh Meena, Head of Research, Swastika Investmart.

     

    "A bullish momentum with a 'buy on dip' texture is still intact in the headline index, where 16,200-16,170 is acting as an immediate and strong support area, while 16,350-16,400 is acting as immediate resistance; Above these levels, 16,500/16,600 will be the next target levels. On the downside, 16,000-15,900 is a critical demand zone for positional traders. Reliance, IT stocks, and the Bank Nifty index may continue to outperform for a few more days. An immediate hurdle for the Bank Nifty index is at 36,500," Meena said. 

  • Max Healthcare Institute posts Q1 profit of Rs 147 crore; shares rise

    Hospital chain Max Healthcare Institute reported a net profit of Rs 146.9 crore for the quarter ended June 30. The company had reported a net loss of Rs 314.3 crore for the corresponding period a year ago. Its revenue increased to Rs 1,000 crore in the first quarter of the current financial year, from Rs 256.3 crore in the year-ago period. The company's consolidated EBITDA came in at Rs 244.2 crore, as against an EBITDA loss of Rs 24.5 crore a year ago.

    Shares in Max Healthcare jumped as much as 4.35 percent to Rs 299.80 apiece on BSE after the earnings announcement before cooling down. 

    At 1:35 pm, the stock traded up 0.64 percent at Rs 289.15 apiece on the bourse, in line with a 0.59 percent rise in the headline Sensex index. 

  • India’s exports rise 50% to $7.4 billon in one week

    The country's exports rose 50.45 percent to $7.41 billion during the August 1-7 period, on account of healthy growth in the shipments of engineering goods, gems and jewellery as well as petroleum products, provisional data from the commerce ministry showed. Imports grew about 70 percent to $10.45 billion, leaving a trade deficit -- which occurs when imports exceed exports -- of $3 billion.

    Oil imports during jumped about 141 percent to $1.80 billion. Gold imports declined 12.48 percent to $100 million. (Read more on trade data here)

    Stock Market Highlights: Sensex, Nifty end with minor gains; Smallcap index falls over 2%; metals, PSU banks top losers
Stock Market Highlights: Indian equity benchmarks Sensex and Nifty ended Tuesday's volatile session flat with metals and banking stocks dragging the most. Broader markets, midcap and smallcap indices declined over 1-2 percent each. Among sectors, sharp losses were seen in metal, PSU banks, realty and media indices, while Nifty IT ended in the green.