Home / Markets / Live Blog /  Sensex closes 215 pts lower, Nifty at 16,238; RBI MPC keeps key rates unchanged

Sensex closes 215 pts lower, Nifty at 16,238; RBI MPC keeps key rates unchanged

Market closing: Indian indices opened flat on Friday.closed over 0.35% lower on Friday.Premium
Market closing: Indian indices opened flat on Friday.closed over 0.35% lower on Friday.

Market closing: The Sensex closed at 54,277.72, down 215.12 points, or 0.39%, while Nifty was at 16,238.20, down 56.40 points, or 0.35%. Realty, pharma were top drags. Private banks, IT and auto were top gainers.

Benchmark Indian equity indices closed over 0.35% lower on Friday. The RBI's MPC kept key policy rate unchanged at 4%. The inflation guidance was at 5.7%. While the MPC's policy decision was more or less along expected lines, markets seemingly reacted negaively to the Supreme Court's ruling in favour of Amazon in the dispute surrounding the RIL-FRL deal. All eyes will be on US payroll data due later today.

06 Aug 2021, 03:52:40 PM IST

Rupee inches 2 paise higher to close at 74.15 (provisional) against US dollar

06 Aug 2021, 03:51:42 PM IST

Market closing quote: Gaurav Udani, CEO and founder, ThincRedBlu Securities

"Nifty traded in a very small range of around 110 points. After its recent upmove Nifty has been consolidating since the last 2 trading sessions. Today Nifty made an inside bar , which means it traded inside yesterday's high and low. The trend in nifty remains bullish. It has strong supports at 16,200, 16,150 and 15,950 levels. Nifty may test 16,400 and 16,450 once it crosses its resistance of 16,350."

06 Aug 2021, 03:48:04 PM IST

Market closing

The Sensex closed at 54,277.72, down 215.12 points, or 0.39%, while Nifty was at 16,238.20, down 56.40 points, or 0.35%. Realty, pharma were top drags. Private banks, IT and auto were top gainers. On the 30-share Sensex, IndusInd Bank, Tech Mahindra, Bharti Airtel, and 10 other stocks closed in green, while RIL, UtraTech, Tata Steel, and 14 other stocks closed in red.

Sensex at close
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Sensex at close
06 Aug 2021, 03:29:55 PM IST

Berger Paints trades lower

Berger Paints' stock was trading at 822.55 each, down 1.88% at 3:25 pm. The company reported Q1 consolidated net profit 1.41 billion, compared to an estimated 1.5 billion a year ago. The company's Q1 net profit of 1.40 billion compared to an estimated 1.58 billion. The company's stock was trading at 824.25 each, down 1.68%/ at 3:39 pm.

06 Aug 2021, 03:24:46 PM IST

CESL floats tender to procure 1 lakh electric three-wheelers

State-run CESL has floated a tender to procure one lakh electric three-wheelers.

"Convergence Energy Services Ltd (CESL), a wholly owned subsidiary of Energy Efficiency Services Ltd, has issued a tender for the procurement of 1,00,000 electric three-wheelers (E3W) today," a company statement said.

A request for proposals has been issued inviting original equipment manufacturers (OEMs) to provide quotations for E3W under different use-cases – including, garbage disposal, freight loaders, food and vaccine transport and passenger autos. (Reuters)

06 Aug 2021, 03:17:30 PM IST

Arvind Fashions trades lower

Arvind Fashions reported Q1 consolidated net loss of 1.77 billion compared to a net loss of 1.97 billion a year ago. The company's stock was trading at 214.45 each, down 2.83% at 3:16 pm.

06 Aug 2021, 03:10:50 PM IST

Abbott India Q1 net profit up 8.5 pc to ₹195.76 cr

Drug firm Abbott India on Friday reported a 8.54 per cent rise in its net profit to 195.76 crore for the June-ended quarter. The company had posted a net profit of 180.35 crore for the corresponding period of the previous fiscal, Abbott India said in a regulatory filing. Revenue from operations of the company stood at 1,217.83 crore for the quarter under consideration. It was 1,064.27 crore for the same period a year ago, it added. Shares of Abbott India were trading at 17,666.10 per scrip on BSE, down 1.51 per cent from its previous close. (PTI)

06 Aug 2021, 03:05:34 PM IST

Huawei reports biggest ever revenue drop as consumer growth engine stutters

Chinese telecommunications giant Huawei Technologies reported its biggest ever revenue drop in the first half of 2021, after U.S. sanctions drove it to sell a chunk of its once-dominant handset business and before new growth areas have fully matured. The company generated revenue of 320.4 billion yuan ($49.56 billion), it said on Friday. The biggest decline came from Huawei's consumer business group, which includes handsets, where revenue fell 47% to 135.7 billion yuan. (Reuters)

06 Aug 2021, 03:03:53 PM IST

RIL, HDFC top drags

Nifty sectoral indices
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Nifty sectoral indices
06 Aug 2021, 02:51:54 PM IST

Gujarat Gas Q1 result commentary: Yash Gupta Equity Research Associate, Angel Broking

"The company has reported revenue from operation at 3,065 crores, up by 176% YoY, as Q1FY21 was a low base due to covid. Company reported very strong EBITDA margins of 24% which is better than the estimates. Gujarat gas has seen continuous improvement in gas demand from the Industrial segment, in Q1FY22 it reached at 708 mmscm. Company has added 11 gas stations in Q1FY22. Total sales volumes for the quarter stood at 10.01 mmscmd. We have a neutral view on Gujarat gas as we belives all the positive has been priced in.

06 Aug 2021, 02:43:29 PM IST

Muthoot Finance trades lower

Muthoot Finance's stock was trading at 1,524.50 each, down 3.86% at 2:42 pm. The company reported Q1 consolidated net profit of 9.8 billion compared to 8.5 billion a year ago.

06 Aug 2021, 02:32:16 PM IST

Adani Enterprises, Hindalco drive gains

Nifty metals indices
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Nifty metals indices
06 Aug 2021, 02:18:37 PM IST

Cinemas see muted response in first week

Lack of exciting new content and curfews in some states have kept audiences away from cinemas while many of them have desisted from reopening given the unimpressive line-up and worry that resuming operations would add to costs. Several theatre owners also fear that they may have to close down again with the possibility of a third wave looming large. Hollywood flick Mortal Kombat and the Telugu films that released last Friday- Ishq, Thimmarusu, Narasimhapuram, Parigettu Prigettu and Trayam, have found little draw in the one week they have spent in theatres. (Read here)

06 Aug 2021, 02:17:30 PM IST

Johnson & Johnson applies for Emergency Use Authorization of its single-dose covid vaccine in India: Co statement

06 Aug 2021, 02:05:35 PM IST

Fertilisers stocks gain on Irda's crop insurance premium guidance

Sector Watch: Fertilisers
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Sector Watch: Fertilisers
06 Aug 2021, 01:55:22 PM IST

Godrej Properties, Sobha, top drags

Nifty realty index
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Nifty realty index
06 Aug 2021, 01:33:29 PM IST

GAIL gains

State-owned GAIL (India) Ltd's stock was trading at 150.10 each, up 5.04% at 1:32 pm. The company registered a 498%year-on-year jump in its net profit to Rs1,530 crore for the quarter ended 30 June, driven by better performance in natural gas marketing and transmission, improved gas marketing margins and better price realization for petrochemicals.

The public sector unit’s turnover for the first quarter rose 44% year-on-year to Rs17,352 crore.

06 Aug 2021, 01:31:45 PM IST

Hiring in India at an all-time high led by IT-ITeS sector: Naukri JobSpeak

Hiring activity in India has touched an all-time high in July 2021 led by the IT-ITeS sector, indicating a strong revival of economic growth and sustained recovery from the impact of covid-19 on business, according to the latest Naukri JobSpeak report. The country’s premier index on hiring trends grew by 11% month-on-month to touch 2,625, the highest it has ever been, including the pre-covid timeline. The Indian job market has witnessed sequential growth for the second month in a row, with a 15% rise in June after a pandemic-linked decline in April and May. (Read here)

06 Aug 2021, 01:22:50 PM IST

Lupin, Cadila drive gains

Nifty Pharma index
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Nifty Pharma index
06 Aug 2021, 01:16:46 PM IST

Lok Sabha clears Bill to settle retro tax cases

Lok Sabha on Friday passed the Taxation Laws (Amendment) Bill, 2021 that seeks to settle 17 disputes the government has with companies including Cairn Energy Plc. and Vodafone Plc. that were triggered by a retrospective application of a tax law change made about a decade ago. The Lower House of the Parliament cleared the Bill amid uproar by Opposition parties after finance minister Nirmala Sitharaman made a brief statement about the need for the amendment.

06 Aug 2021, 01:04:29 PM IST

RBI MPC decision favourable for home buyers: Ankush Kaul - president (sales & marketing)—Ambience Group

“Indian real estate has just started to recover from the impact of the second lock-down and with RBI maintaining the status quo on home lending rates, we believe this is the ideal time to buy housing units. Currently, home loan rates are very low levels which is creating solid demand among home buyers. Real estate globally has seen major uptick post relaxation of lockdowns, and we expect same trend to follow in India as well."

06 Aug 2021, 12:46:35 PM IST

M&M gains

Mahindra and Mahindra's stock was trading at 765.10 each, up 0.78% at 12:46 pm. The company reported Q1 net profit of 8.56 billion compared to analysts’ estimates of 8.4 billion. The company reported consolidated ebitda of 16.32 billion compared to 5.7B a year ago.

06 Aug 2021, 12:39:29 PM IST

Apollo Tyres' margin outlook improves on price hikes, cost curbs

For Apollo Tyres Ltd, robust export sales volumes saved the day. In Q1FY22, the company attained the highest quarterly exports ever, as there was a ramp-up in exports to the European Union. As a result, the company's consolidated revenue at 4,580 beat analysts' estimates. In a post-earnings conference call, the company's management said that exports to other geographies are also being ramped up. It is looking to increase its export contribution from 10% at present to 15% of sales. (Read here)

06 Aug 2021, 12:32:26 PM IST

Glenmark Life Sciences shares make tepid debut. Should you buy now?

Glenmark Life Sciences shares make tepid debut at Indian bourses as the Active Pharmaceutical Ingredients (APIs) manufacturer company got listed today at meager 4 per cent premium. This listing is a shocker to the markets as the company is in unique API manufacturing business, which has strong business outlook. API demand has soared around 50 to 60 per cent in the last one year and it is expected to further remain in high demand. So, fundamentals of the company are quite strong and hence tepid debut at Dalal Street might be an opportunity for those who missed the opportunity during IPO allocation. According to experts, one needs to keep an eye on the counter for first one to two trade sessions next week as some institution may invest in the stock as its valuations are quite attractive at this level. (Read here)

06 Aug 2021, 12:29:03 PM IST

Rajya Sabha adjourned

06 Aug 2021, 12:15:31 PM IST

ICICI Prudential MF launches booster systematic transfer plan

In an industry first, ICICI Prudential Mutual Fund has launched a booster systematic transfer plan, an enhanced systematic transfer plan (STP) wherein unit holders, based on market valuations, can opt to transfer variable amounts from one source scheme to a designated target scheme at defined intervals.

According to the asset management company, the unitholder is required to provide a base installment amount that is intended to be transferred to the target scheme. Booster STP can vary installment amount from 0.1 times to 5 times of base installment amount based on equity valuation index.

06 Aug 2021, 12:14:42 PM IST

RIL, HDFC top drags

Index contribution
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Index contribution
06 Aug 2021, 11:31:16 AM IST

Cipla Q1 result commentary: Yash Gupta Equity Research Associate, Angel Broking

Cipla has reported top-line growth of 27% YoY at 5,504 crores, on the back of growth in domestic business as well as API business. In the domestic business, the company has reported chronic growth of 16% which is better than the market growth of 12% along with support from the covid portfolio due to the second wave in India. SAGA market has also reported revenue growth of 13% as the company continues to gain market share. USA business has reported revenue growth of 5%, the company continues its market share expansion in Albuterol. On the Ebitda margin front company has reported EBITDA margins of 24.5% improved by 32 bps YoY and reported EBITDA of 1,346 crores. Cipla Limited has reported another strong set of numbers for Q1FY22, domestic market growth was better than expected, and the company was able to report growth in the US market on the back of Albuterol. We have a positive outlook on Cipla Ltd."

06 Aug 2021, 11:21:21 AM IST

RBI MPC decision an advantage for housing sector: Anuj Puri, chairman - Anarock Property Consultants

"Had it not been for the pandemic, the RBI could have taken a different stance for the benchmark rates today. However, the spectre of inflation in the country looms too large, prompting the RBI - as expected - to keep the repo rates unchanged at 4% and reverse repo rate at 3.35%. This is the seventh consecutive time that the RBI has maintained status quo, largely on account of the ongoing COVID-19 uncertainties. On the upside, the RBI did confirm that economic activity is reviving with the ebbing of COVID-19 in most states across the country. Also, the real GDP forecast for the FY 2021-22 remains at 9.5% in the wake of the vaccination drive that is in full swing in India. All this is positive for the residential market, which has strong correlations to the overall state of the economy. The unchanged repo rate regime works well for home loan borrowers as the floating retail loan rates, which is directly linked to external benchmark repo rates, have been at the lowest level in the last two decades. The continuation of this low interest rate regime supports the environment of affordability which has become the new hallmark of the housing market - during the pandemic, and even before."

06 Aug 2021, 11:04:50 AM IST

BYJU’s in talks to acquire Vedantu

Edtech major, BYJU’s is in active talks to acquire live tutoring platform Vedantu, as it looks to further consolidate its position in the rapidly growing digital education space, two individuals aware of the discussion told Mint. The acquisition deal is expected to be worth $700 million to $800 million, said the first person aware of the development. However, a second individual privy to the talks added that the acquisition deal could cross $900 million. The deal comes just weeks after the firm acquired upskilling platform, Great Learning for $600 million and Toppr for another $150 million. It also spent $500 million to acquire US-based Epic recently.

06 Aug 2021, 10:51:49 AM IST

Pharma, financials top drags

Nifty sectoral indices
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Nifty sectoral indices
06 Aug 2021, 10:40:10 AM IST

Supreme Court upholds Amazon's position, emergency arbitrator's stay on RIL-FRL deal

Future Retail's stock was down 5.06% to 55.40 each at 10:41 am. RIL's stock was trading at 2,100.05 each at 1.56%.

06 Aug 2021, 10:34:50 AM IST

RBI Monetary Policy LIVE: Central bank in'whatever it takes mode' says Das

06 Aug 2021, 10:33:52 AM IST

RBI Monetary Policy LIVE: additional measures

  • TLTRO to be extended by 3 months till 31 December 2021
  • MSF extension till 31 Dec; increased access upto 1.26 trillion
  • Transition from Libor: guideline amendment export credit in foreign currency may be made in any other prevalent currency rate
  • Deferral of deadline to meet operational parameters for resolution plans —total debt to ebitda ratio, current ratio, debt service coverage ratio, avg debt service coverage ratio—to 1 October 2022

06 Aug 2021, 10:22:19 AM IST

RBI Monetary Policy LIVE: GSAP 2.0 operations in 2 tranches worth ₹25,000 cr

06 Aug 2021, 10:21:43 AM IST

RBI Monetary Policy LIVE: VRRR stays

  • RBI has been conducting 14-VRRR auctions as main liquidity operations
  • VRRR reintroduced since 15 Jan 2021
  • Increasing the quantum put under auction under VRRR window in response to market appetite
  • Not a reversal of accommodative policy stance

06 Aug 2021, 10:16:54 AM IST

RBI Monetary Policy LIVE: CPI inflation projection at 5.7%

Q2: 5.9%

Q3: 5.3%

Q4: 5.8%

Q1FY23: 5.1%

06 Aug 2021, 10:15:43 AM IST

RBI Monetary Policy LIVE: demand ull pressures remain inert

-paring back liquidity may affect nascent liquidity

06 Aug 2021, 10:14:17 AM IST

RBI Monetary Policy LIVE: moderation in prices of pulses

Crude oil prices volatile; bear implications for inflation

logistics cost impinge on cost of manufacturing

06 Aug 2021, 10:13:03 AM IST

RBI Monetary Policy LIVE: Real GDP growth 9.5% for 2021-22

Q1: 21.4%

Q2: 7.3%

Q3: 6.3%

Q4: 6.1%

Real GDP growth for 2022-23 projected at 17.2%

06 Aug 2021, 10:11:10 AM IST

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

"The index is in fine form - our next target level should be closer to 16,500-16,550. Given the sharp run up, there could always be bouts of selling or intra day dips. These could be utilized to buy into this market for higher targets. It is a 'buy on dips' market and traders should not attempt short selling on the index as the overall momentum is bullish."

06 Aug 2021, 10:09:35 AM IST

RBI Monetary Policy LIVE: 1 yr ahead sentiments returned to optimistic territory

06 Aug 2021, 10:09:12 AM IST

RBI Monetary Policy LIVE: inflation pressures transitory

06 Aug 2021, 10:02:36 AM IST

RBI Monetary Policy LIVE: MPC decides to maintain policy rate at 4%

-reverse repo rate unchanged at 3.35%

06 Aug 2021, 09:52:14 AM IST

Vodafone Idea surges

The telco's stock was trading at 6.78 each, up 14.14% at 9:51 am. In a surprise move, finance minister Nirmala Sitharaman on Thursday tabled a bill in the Lok Sabha that is likely to help settle festering disputes with Cairn Energy Plc, Vodafone Group Plc and 15 other companies over retrospective tax demands by the government. The Taxation Laws (Amendment) Bill, 2021, seeks to nullify the tax claims raised based on retrospective use of an anti-evasion tax law amendment introduced in 2012. That legislative change aimed to make offshore transactions involving Indian assets, including those executed prior to the change in law, taxable in India. (Read here)

06 Aug 2021, 09:49:18 AM IST

RBI governor's statement today

06 Aug 2021, 09:37:25 AM IST

Aditya Birla Sun Life AMC receives Sebi’s final observations for its IPO

06 Aug 2021, 09:24:32 AM IST

Market opening

The Sensex opened at 54,492.17, down 0.67 points, while Nifty was at 16,304.40, up 9.80 points, or 0.06%. Realty opened in red.

Sensex at 9:23 am
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Sensex at 9:23 am
06 Aug 2021, 09:09:33 AM IST

Market pre-opening

At market pre-opening, Sensex was at 54,511.83, up 18.99 points or 0.03%, while Nifty was at 16,304.40, up 9.80 points or 0.06%

Sensex at pre-open
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Sensex at pre-open
06 Aug 2021, 08:53:40 AM IST

RBI policy briefing: Five things to watch out for

Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday will announce the August bi-monthly monetary policy statement at 10 am, which will be followed by a press conference. The statement will follow the three-day review meeting of the six-member Monetary Policy Committee, or the rate-setting panel, of RBI, headed by Das, had begun Wednesday. (Read here)

06 Aug 2021, 08:41:42 AM IST

Indian Railways drops project to provide internet in trains, says it's not cost-effective

Two years after Indian Railways made the announcement to provide internet connectivity in running trains, the government has "dropped" the project stating thatit was not cost-effective, the government informed Parliament.

Railway Minister Ashwini Vaishnaw in a written reply to a question in the Lok Sabha, said as a pilot project, Wi-Fi based internet facility was provided in the Howrah Rajdhani Express train through satellite communication technology.

06 Aug 2021, 08:32:16 AM IST

Stocks to Watch

Adani Power, Bharti Airtel, Future Retail, GAIL, Maruti, among other stocks may be in the news today. (Read here)

06 Aug 2021, 08:20:51 AM IST

Market outlook

Markets are likely to get directions after the monetary policy review on Friday while SGX Nifty trend suggest a flat opening of Indian benchmark indices. All eyes are on the Reserve Bank of India monetary policy review outcome which is scheduled on Friday. The decision of status quo on key rates is already priced in however RBI’s stance on inflation and commentary on growth will be key focus among investors. On Thursday, markets were at record high. The BSE Sensex rose 123.07 points or 0.23% at 54,492.84 while the Nifty was up 35.80 points or 0.22% at 16,294.60. (Read here)

06 Aug 2021, 08:05:18 AM IST

Amazon, Flipkart and BigBasket struggle to meet India's electric-vehicle goal

Sourabh Saini, a delivery driver for Indian online supermarket BigBasket, is thrilled by the attention he gets as he zips around Noida, a satellite city on the outskirts of Delhi, in his three-wheeled electric van.

“I like how my electric van always gets noticed," said Saini, who made the switch from fossil fuels about eight months ago as part of BigBasket’s push to electrify 90% of its fleet. “Customers are surprised at how silent it is. They get curious about my experience of driving an EV and start asking about its price and range." (Read here)

06 Aug 2021, 07:43:55 AM IST

Asian stocks see steady start

Asian stocks were steady early Friday after earnings helped Wall Street to a record close as some of the growth concerns stirred by the delta coronavirus strain eased. Shares fluctuated in Australia and in Japan -- where Nintendo Co. slid after a profit miss -- while South Korea edged up. U.S. contracts were little changed after the S&P 500 and Nasdaq 100 reached new peaks. A second weekly drop in U.S. jobless claims stoked optimism for a strong payrolls report Friday, which could spark market swings. Treasuries held a retreat and the dollar was steady. The pound maintained an advance after the Bank of England signaled concerns about inflation. The selloff in crude oil eased but it remains on course for a weekly drop of more than 6% in part on demand risks from Covid-19.

S&P 500 futures fell 0.1% as of 9:09 a.m. in Tokyo. The S&P 500 rose 0.6%

Nasdaq 100 futures were little changed. The Nasdaq 100 rose 0.7%

Japan’s Topix index rose 0.1%

Australia’s S&P/ASX 200 index was little changed

South Korea’s Kospi added 0.1%

Hang Seng futures advanced 0.5% earlier

SSGX Nifty was down 0.19%

06 Aug 2021, 07:32:51 AM IST

Wall Street indices witness record close

U.S. stocks and oil prices rebounded on Thursday as unemployment claims declined and the trade deficit widened - positive economic data in the face of rising COVID-19 cases and signals of declining Federal Reserve stimulus.

The number of Americans filing new claims for unemployment benefits declined further last week, while layoffs dropped in July to their lowest level in just more than 21 years. The U.S. trade deficit surged to a record high in June as businesses boosted imports to rebuild inventories. The Dow Jones Industrial Average rose 196.94 points, or 0.57%, to 34,989.61, the S&P 500 gained 18.42 points, or 0.42%, to 4,421.08 and the Nasdaq Composite added 103.97 points, or 0.7%, to 14,884.50. All eyes will be on the U.S. non-farm payrolls report due later today.

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