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Home >Markets >Live Blog >Sensex up 123 pts at close, Nifty at 16,295; IT, metals gain; Airtel up 4.30%

Sensex up 123 pts at close, Nifty at 16,295; IT, metals gain; Airtel up 4.30%

Market closing: Indian indices closed over 0.22% higher on Thursday. (REUTERS)Premium
Market closing: Indian indices closed over 0.22% higher on Thursday. (REUTERS)

Market closing: The Sensex closed at 54,492.84, up 123.07 points or 0.23%, while the Nifty was at 16,294.60, up 35.80 points or 0.22%. PSU banks, realty, and media were top drags.

Sensex, Nifty were up over 0.22% on Thursday. Some of the key companies which will announce June quarter results today are Adani Transmission, Cipla, GAIL (India), Adani Power, REC, Tata Chemicals, Thermax and Indiabulls Housing Finance.

05 Aug 2021, 03:54:35 PM IST

Rupee inches 2 paise higher to close at 74.17 (provisional) against US dollar

05 Aug 2021, 03:48:54 PM IST

Market closing

The Sensex closed at 54,492.84, up 123.07 points or 0.23%, while the Nifty was at 16,294.60, up 35.80 points or 0.22%. PSU banks, realty and media were top drags. On the 30-share Sensex, Bharti Airtel, ITC, Tech Mahindra, and 12 other stocks closed in green, while SBI, IndusInd Bank, Bajaj Finance, and 12 other stocks closed in red.

Sensex at close
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Sensex at close
05 Aug 2021, 03:29:28 PM IST

Escorts posts nearly two-fold jump in Q1 net profit at ₹178.45 cr

Farm equipment and engineering major Escorts Ltd on Thursday reported nearly two-fold jump in consolidated net profit at 178.45 crore in the first quarter ended 30 June driven by strong sales in the agri-machinery segment. The company had posted a consolidated net profit of 92.58 crore in the same quarter previous fiscal, Escorts Ltd said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at 1,701.79 crore as against 1,089.26 crore in the year-ago period, it added.

Tractor sales volume were at 25,935 units for the quarter ended June 2021 as against 18,150 units in the corresponding period last fiscal, a growth of 42.9%, the company said.

05 Aug 2021, 03:22:04 PM IST

NHAI incurred revenue loss of around ₹3,512 cr in FY'21 due to COVID restrictions: Gadkari

The National Highways Authority of India (NHAI) has incurred an estimated revenue loss of 3,512.62 crore in financial year 2020-21, due to covid-19-related restrictions, Parliament was informed on Thursday. Replying to a question in Lok Sabha, the Minister of Road Transport and Highways Nitin Gadkari said the approximate user fee collections in FY 2019-20 and 2020-21, stood at 27,682.89 crore and 28,548.05 crore, respectively.

05 Aug 2021, 03:02:54 PM IST

Narendra Solanki, head- equity research (Fundamental), Anand Rathi Shares & Stock Brokers on market performance.

“Indian markets started flat following mixed Asian market cues as Tech stocks in China were seen trading lower with Australia recorded a trade surplus of around 10.5 billion Australian dollars (about $7.75 billion) in July, That was above forecasts. During the afternoon session benchmarks erased all the losses to turn positive. Buying in frontline stocks such as Bharti Airtel, HCL Tech and Tech Mahindra were aiding sentiment, while selling in SBI, Indusind Bank and ICICI Bank kept the gains in the markets in check. Adding optimism, Rajya Sabha passed the Limited Liability Partnership (Amendment) Bill, which seeks to encourage the start-up ecosystem and further boost ease of doing business. Traders also took support with report that foreign portfolio investors (FPIs) stood as buyers of domestic stocks to the tune of 2,828.57 crore."

05 Aug 2021, 02:44:35 PM IST

Sensex heatmap

Bharti Airtel, ITC, Tech Mahindra top gainers
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Bharti Airtel, ITC, Tech Mahindra top gainers
05 Aug 2021, 02:36:56 PM IST

RBI MPC expectations: Heena Naik, research analyst—currency, Angel Broking

- The three day RBI Monetary Policy Meeting (4-6 August) is likely to end tomorrow at 10 am with expectations of no change in repo and reverse repo rates amid fear of the third covid-19 wave

- The inflation outlook for FY22 could also see a revision from the predicted levels of 5.1%

- RBI is likely to watch the developing macroeconomic situation for some more time before taking any decisive action on monetary policy.

- The fear of the third wave would also force the RBI to continue with the growth supporting measures

- Inflation rates, liquidity concerns, and governor Shaktikanta Das’ commentary will be in more focus during this policy

05 Aug 2021, 02:29:21 PM IST

Flipkart adds 4 supply chain facilities in Gujarat, helps create over 5,000 local job opportunities

Walmart-owned Flipkart on Thursday said it has expanded its network in Gujarat with the addition of four new supply chain facilities that will support local sellers from the state and to cater to the growing demand for e-commerce.

The new facilities are located in Ahmedabad and Surat, and are collectively spread across an area of nearly 5 lakh sq ft, helping create more than 5,000 direct and indirect local jobs in the state, a statement said. This will further help strengthen the support for close to 35,000 local sellers from Gujarat to get national market access while ensuring wider selection and faster deliveries for the customers, it added. (PTI)

05 Aug 2021, 02:08:40 PM IST

Swiggy, Reliance BP Mobility to create EV ecosystem: report

Food tech Swiggy has partnered with Reliance BP Mobility Ltd (RBML) for an electric vehicle (EV) ecosystem, moneycontrol.com reported.

05 Aug 2021, 02:04:06 PM IST

Central Bank of India, Bank of India top drags

Nifty PSU Bank index
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Nifty PSU Bank index
05 Aug 2021, 02:02:14 PM IST

Realty, PSU banks top drags

Nifty sectoral indices
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Nifty sectoral indices
05 Aug 2021, 02:00:36 PM IST

Aurobindo Pharma channelising efforts to commercialise covid-19 vaccine

Drug major Aurobindo Pharma is looking to commercialise a covid-19 vaccine, build a portfolio of biosimilar products, expand API production as part of its growth plans going ahead, as per company's annual report for 2020-21. The Hyderabad-based drug major is looking to develop products with higher complexity, focus on injectables business and expand business in high growth markets like China. "We are channelising our efforts to develop capabilities to commercialise covid-19 vaccine. We have already entered into an exclusive license agreement with Vaxxinity, a US-based company to develop, commercialise and manufacture UB612, a multitope peptide-based vaccine for covid-19," Aurobindo Pharma Vice Chairman K Nithyananda Reddy informed company's shareholders. (PTI)

05 Aug 2021, 01:50:11 PM IST

Ixigo parent acquires bus ticketing platform AbhiBus: report

Travel app Ixigo’s parent company Le Travenues Technology has acquired AbhiBus, a Hyderabad-based bus ticketing and aggregation platform for an undisclosed sum, Moneycontrol.com reported.

05 Aug 2021, 01:33:29 PM IST

TTK Healthcare trades lower

The company's stock trading at 733.00 each, 0.58% at 1:33 pm. TTK Healthcare reported Q1 ebitda 88.1M compared to loss of 6.9 million a year ago.

05 Aug 2021, 01:22:38 PM IST

RIL, Bharti Airtel drive gains

Index contribution
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Index contribution
05 Aug 2021, 01:18:19 PM IST

Dilip Buildcon trades lower

Dilip Buildcon's stock was trading at 553.00 each, down 1.06% at 1:17 pm. The company has passed a resolution to acquire 100% equity shares of DBL Infra Assets Pvt. Ltd.

05 Aug 2021, 01:18:20 PM IST

IEX power trade grows 37% to 7,322 MU in July

Indian Energy Exchange (IEX) has recorded power trade growth of 37% at 7,322 million units (MU) in July compared same month year ago. The electricity market at the Indian Energy Exchange traded 7,322 MU volume and achieved 37% year-on-year (y-o-y) growth in July 2021, an IEX statement said. It stated that the day-ahead market traded 4,238 MU volume during the month at the average monthly price at 2.95 per unit. The sell-bids at 2X of the cleared volume ensured ample availability of power and providing competitive procurement opportunities to the distribution utilities and industries. (PTI)

05 Aug 2021, 01:01:16 PM IST

In compliance with Indian laws, will cooperate with ED on notice: Flipkart

Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major. The Enforcement Directorate (ED) has issued a show cause notice of 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday. When contacted, Flipkart said it is in compliance with Indian laws and regulations, including FDI regulations. (PTI)

05 Aug 2021, 12:59:07 PM IST

Rajya Sabha proceedings adjourned till 2 PM after opposition uproar over Pegasus, other issues

05 Aug 2021, 12:53:08 PM IST

Crude oil commentary: Prathamesh Mallya, AVP- Research, Non-Agri Commodities and Currencies, Angel Broking

"On Wednesday, WTI Crude ended lower by 3.4% to close at $68.2 per barrel. Oil prices continued to trade lower extending the fall from the earlier sessions as increasing US Crude inventories amid rising cases of the Delta variant of the Covid19 virus clouded the outlook for the global oil market. As per reports from the Energy Information Administration, US crude inventory data rose by 3.6 million barrels in the week ending on 30 July against the market expectation of 3.2-million-barrel drop. While the US crude stocks witnessed an unexpected spike, the US while gasoline inventories plunged by 5.3 million barrels. Crude Oil remained under pressure as worries over slow growth in China’s industrial sector amid Opec increasing their oil output which ignited over supply worries in the global markets and dragged the prices lower. Mounting geopolitical tension in the Middle east might levy some support for oil in today's session. However, widespread of the pandemic and increasing US crude inventories is expected to keep the prices in check."

05 Aug 2021, 12:26:25 PM IST

India gold imports leap to highest since April as controls ease

Gold imports by India jumped to the highest in three months in July as economic activity picked up after a deadly coronavirus wave abated, and prices in the second-biggest consumer softened. Inbound shipments surged 71% from a year earlier to 43.6 tonnes last month, according to a person familiar with the data, who asked not to be identified as the information isn’t public. That’s the biggest inflow since 70.3 tonnes in April. Finance ministry spokesman Rajesh Malhotra didn’t immediately respond to calls to his mobile phone. (Bloomberg)

05 Aug 2021, 12:21:00 PM IST

Indian govt tells states to impose local curbs ahead of festivals

The Indian government has asked state authorities to impose restrictions ahead of festivals across the country, warning that overcrowding could lead to "super spreader" events and a new surge in infections. India has reported an average of 30,000 to 40,000 new coronavirus cases every day since July, and the federal government has warned that although cases have dipped from a high of 400,000 daily at the peak of the deadly second wave, the danger has not abated yet. "The Indian Council for Medical Research (ICMR)... have expressed concern regarding the potential of mass gathering events during festivals turning into super-spreader events, thereby leading to a spike in covid cases," federal health secretary Rajesh Bhushan said in a letter to state governments released late on Wednesday. (Reuters)

05 Aug 2021, 12:17:56 PM IST

Bharti Airtel near 52-week high

Bharti Airtel's stock was trading at 608.90 each, up 6.04% at 12:11 pm. Telecom major Bharti Airtel Ltd reported stable earnings for the June quarter.

Consolidated revenues rose 4.3% sequentially to 26,850 crore, led by strong revenue growth in India non-mobile and Africa business. Robust margin improvement in the India mobile business and healthy Africa business aided its operating performance. Consolidated Ebitda increased 5.3% sequentially to 12,980 crore. Ebitda is short for earnings before interest, tax, depreciation and amortization. Consolidated Ebitda margin at 49.2%, rose 170 basis points in the June quarter compared to the previous quarter. One basis point is one hundredeth of a percentage point. Mobile ARPU, up 1% sequentially, was supported by healthy 4G and postpaid adds. ARPU is short for average revenue per user.

05 Aug 2021, 12:07:05 PM IST

Vodafone Idea shares continue to decline; further tumble over 24%

Shares of Vodafone Idea Ltd continued to tumble for the fourth consecutive day on Thursday and further plunged over 24% to its 52-week low in morning trade. The counter has been bearing a deserted look of late and has tumbled nearly 45% in four trading sessions. On Thursday, the stock plunged 24.54% to its 52-week low of 4.55 on the BSE. At the NSE, it cracked 24.16% to its 52-week low of 4.55. Kumar Mangalam Birla on Wednesday stepped down as the chairman of Vodafone Idea Ltd. (PTI)

05 Aug 2021, 11:55:21 AM IST

Gold commentary: Prathamesh Mallya, AVP-research, Non-Agri Commodities and Currencies, Angel Broking

"On Wednesday, spot gold ended marginally higher by 0.08 percent to close at $1,811.4 per ounce. The bullion metal prices scaled higher as the US currency eased earlier in yesterday’s session making the dollar denominated gold cheaper for other currency holders. However, the yellow metal gave up some of its gains made earlier in the day as the Institute for Supply Management (ISM) US non-manufacturing activity figures surged to 64.1 in July its record highest levels which supported market sentiments. The yellow metal prices were further pressured as the top US Federal Reserve officials signaling towards tapering of their expansionary policy later in the year. Global investors waited cautiously for the US employment data due later in the week for cues on the US Federal Reserve’s stance in the months ahead. Gold prices remained elevated in the past week the US central bank kept interest rates unchanged and didn’t give any fixed timeline on tapering of its expansionary approach in wake of the delta variant of the virus and a weaker labor market."

05 Aug 2021, 11:51:18 AM IST

PNB Housing Finance gains

PNB Housing Finance Ltd’s stock 731.50, up 1.53%. The company's 4,000 crore stake sale to the Carlyle Group and Salisbury Investments Pvt. Ltd has got deemed approval from the Competition Commission of India (CCI), the competition regulator said. The clearance is granted under the green channel facility, according to which a deal that does not cause appreciable adverse effect on market competition is deemed to be approved on it being intimated to the regulator.

05 Aug 2021, 11:41:02 AM IST

Banks, financials top drags

Index contribution
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Index contribution
05 Aug 2021, 11:41:02 AM IST

Titan commentary: Amarjeet Maurya - AVP - Mid Caps, Angel Broking

"During the Q1FY22, Titan Company (TCL) recorded revenue growth of ~120% and profit of 20 crore against loss of 291 crore in Q1FY21. TCL is targeting to gain market share in the Jewellery segment due to strong focus on wedding segment, huge scope for store expansion (40-50 stores every year), and gold harvest & gold exchange schemes. Further, the shift from unorganized (currently 70%) to organized (currently 30%) in the Jewellery segment will benefit branded players like Titan due to strong brand positioning and superior quality. Thus, we are positive on stock"

05 Aug 2021, 11:31:20 AM IST

Alembic pharma receives USFDA nod for OCD drug

Alembic Pharma has received US FDA nod for clomipramine hydrochloride capsules, which is prescribed treatment for obsessive-compulsive disorder.

05 Aug 2021, 11:24:01 AM IST

After a washout Q1, Godrej Properties' aggressive FY22 guidance could disappoint

Godrej Properties reported muted earnings in the June quarter (Q1FY22) as the second wave of the pandemic derailed its sales momentum. In value terms, pre-sales fell 68% year-on-year and 81% sequentially to Rs497 crore. Collections declined 36% sequentially to Rs1,274 crore in Q1FY22.

05 Aug 2021, 11:05:37 AM IST

Nifty top gainers and losers at this hour

IOC, Maruti gain; ICICI Bank, NTPC drag
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IOC, Maruti gain; ICICI Bank, NTPC drag
05 Aug 2021, 11:03:17 AM IST

Tech Mahindra, HCL top gainers

Nifty IT index
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Nifty IT index
05 Aug 2021, 11:01:40 AM IST

Covaxin receives GMP certificate from Hungary, says Bharat Biotech

Bharat Biotech manufactured COVID-19 vaccine Covaxin on Thursday received a certificate of Good Manufacturing Practice (GMP) compliance from the Hungarian authorities. "Another milestone in our account as COVAXIN® receives GMP certificate from Hungary. This marks the 1st EUDRAGDMP compliance certificate received by Bharat Biotech from European regulatory. #BharatBiotech #COVAXIN #covaxininhungary," tweeted Bharat Biotech.

05 Aug 2021, 10:37:31 AM IST

Tata Consumer Q1 results review: net profit dips 42% but margins expand

Tata Consumer Products reported a 42.1% year-on-year decline in its consolidated net profit to 2 bn for the quarter ended June, after market hours on Tuesday. This compared with a net profit of 3.5 bn in the April-June quarter a year ago. The fall in bottomline is due to a one-time exceptional gain in the previous year. (Read here)

05 Aug 2021, 10:37:32 AM IST

Rupee opens on a flat note; inches 4 paise higher to 74.15 against US dollar

05 Aug 2021, 10:23:25 AM IST

Market commentary: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

"The markets got off to a flying start but decided to take a breather closer to the 16,300 level. If we can get past 16300, the next target for the Nifty should be 16,600. The new support for the market is at 15,700 and hence any dip or intra day correction can be used to accumulate long positions for higher targets."

05 Aug 2021, 10:14:25 AM IST

Krsnaa Diagnostics vs Windlas Biotech vs Devyani International vs Exxaro Tiles IPOs: GMPs, other details

Krsnaa Diagnostics vs Windlas Biotech vs Devyani International vs Exxaro Tiles IPOs: With July and August being month of public issue subscription, four new Initial Public offerings (IPOs) opened for bidding on Wednesday and they will remain open for subscription till Friday. As first day of bidding is over, all four public issues have been oversubscribed as Krsnaa Diagnostics, Windlas Biotech, Devyani International and Exxaro Tiles IPO got subscribed 1.98 times, 3.17 times, 2.69 times and 4.67 times respectively. After strong response from the market investors to these four initial offers, grey market too responded strongly in favour of these public issues. Shares of all four IPOs are available today at higher premium in comparison to its yesterday's premium. (Read here)

05 Aug 2021, 10:06:24 AM IST

Zomato trades lower

Zomato's stock was trading at 133.55, down 3.43% at 10:05 am. The foodtech has incorporated a wholly-owned subsidiary, Zomato Payments Pvt. Ltd, to handle payments and technology services. The company was incorporated on 4 August, the food delivery aggregator stated in a regulatory filing on Wednesday. Zomato Payments has an authorised share capital of 20 crore, divided into 2 crore equity shares of 10 each. The Zomato subsidiary has been incorporated with an initial subscription of 10,000 equity shares of 10 each, aggregating to 1 lakh.

05 Aug 2021, 10:01:38 AM IST

IT sector surges

Nifty sectoral indices
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Nifty sectoral indices
05 Aug 2021, 09:48:15 AM IST

India reports 42,982 new covid-19 cases in last 24 hours: govt

05 Aug 2021, 09:28:12 AM IST

Market opening

The Sensex opened at a new high of 54,577, up 0.38% from previous day’s close, while Nifty was at 16,288.95, up 30.15 or 0.19%. SBI Life, Avenue Supermarts hit 52-week highs. On the 30-share Sensex, Titan, Bajaj FInserv, Kotak Mahindra bnak, and 23 other stocks opened in green, while IndusInd Bank, Maruti, NTPC. and HCL Tech opened in red.

Sensex at open
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Sensex at open
05 Aug 2021, 09:06:57 AM IST

Market pre-opening

At market pre-opening, the Sensex was at 54,484.76, up 114.99 points or 0.21%, while Nifty was at 16,258.80, up 128.05 points or 0.79%.

Sensex at pre-open
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Sensex at pre-open
05 Aug 2021, 08:57:15 AM IST

ED warns Flipkart with $1.35 bn fine regarding foreign investment laws violation

India's financial-crime agency has asked Walmart's Flipkart and its founders to explain why they shouldn't face a penalty of $1.35 billion for alleged violation of foreign investment laws, three sources and an agency official told Reuters.

The Enforcement Directorate agency has been investigating e-commerce giants Flipkart and Amazon.com Inc for years for allegedly bypassing foreign investment laws that strictly regulate multi-brand retail and restrict such companies to operating a marketplace for sellers. (Read here)

05 Aug 2021, 08:41:58 AM IST

Cryptocurrency prices today: Bitcoin, ether, dogecoin prices surge. Check latest rates

Cryptocurrency prices today surged with Bitcoin surging nearly 3% to $39,267 while the second-biggest cryptocurrency after Bitcoin, ether was up more than 6% to $2,677, as per CoinDesk. Over the past 24 hours, the digital currency Ether climbed to its highest level in nearly two months during the midst of a software upgrade that will trim the pace at which fresh tokens are minted. Still, Ether is well off its record highs. (Read here)

05 Aug 2021, 08:22:34 AM IST

Market outlook

On Wednesday, the Sensex hit the 54,000-mark for the first time, with the 30-share index rising 546.41 points or 1.02% to 54,369.77. The Nifty closed 128.05 points or 0.79% higher at 16,258.80. Investors will be watching out RBI monetary policy review tomorrow. (Read here)

05 Aug 2021, 08:04:43 AM IST

Stocks to Watch

Adani Green, HPCL, RIL, Maruti, PNB Housing, SBI, Voda Idea, among other stocks could be in the news today. (Read here)

05 Aug 2021, 07:54:32 AM IST

RBI's Monetary Policy Committee meet: Three things to watch out for

India’s monetary policy makers are likely to leave interest rates untouched for a seventh straight meeting, as their focus remains more on fixing a fickle economy than on controlling stubborn price pressures. The Reserve Bank of India’s six-member Monetary Policy Committee is meeting amid weak indicators raising doubts about the economy’s ability to sustain a nascent recovery. Some parts of the nation, where the fast-spreading delta variant was first identified, are still battling a rise in Covid-19 infections with researchers warning of an impending third wave of the pandemic. (Read here)

05 Aug 2021, 07:42:12 AM IST

Asian stocks steady

Asian stocks were steady early Thursday after U.S. shares dipped amid mixed economic data and comments from a Federal Reserve official that the central bank is on course to taper stimulus support.

Equities edged up in South Korea and Japan and were little changed in Australia. U.S. contracts climbed. The S&P 500 fell from a record overnight, led lower by energy shares, while the technology sector proved more resilient. Vice Chairman Richard Clarida said the Fed is on track for a liftoff in interest rates in 2023 and an announcement later this year on paring bond purchases.

S&P 500 futures were up 0.2% as of 9:15 a.m. in Tokyo. The S&P 500 fell 0.5%

Nasdaq 100 contracts rose 0.1%. The Nasdaq 100 rose 0.2%

Japan’s Topix index rose 0.1%

Australia’s S&P/ASX 200 Index fell 0.1%

South Korea’s Kospi added 0.2%

SGX Nifty up 0.14%

05 Aug 2021, 07:30:50 AM IST

Wall Street indices witness mixed closing

Wall Street's main indexes closed mostly lower on Wednesday, with the S&P 500 falling from a record high hit a day earlier as data signaled a sharp slowdown in jobs growth in July, while General Motors tracked its worst day in more than a year despite a record pre-tax profit. Nine of the 11 S&P indexes were lower, with industrials and energy both slipping, as data showed U.S. private payrolls increased far less than expected in July, likely constrained by shortages of workers and raw materials. Federal Reserve Vice Chair Richard Clarida said on Wednesday the central bank should be in the position to begin raising interest rates in 2023. Focus now turns to the US labor department's monthly jobs report on Friday

Dow Jones closed 0.9% lower at 34,792.67

S&P 500 was down 0.5% to 4,402.66

The Nasdaq was up 0.1% at 14,780.53

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