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Home / Markets / Live Blog /  Sensex closes 29 pts lower, Nifty at 16,282; metals, PSU banks top gainers

Sensex closes 29 pts lower, Nifty at 16,282; metals, PSU banks top gainers

Market closing: Indian indices closed flat on Wednesday. (REUTERS)Premium
Market closing: Indian indices closed flat on Wednesday. (REUTERS)

Market closing: Sensex closed at 54,525.93, down 28.73 points or 0.05%, while Nifty was at 16,282.25, up 2.15 points or 0.01%. Pharma, auto and financials were top drags at market close.

Sensex, Nifty closed flat on Wednesday. Foreign lenders have been forced to cut back on currency trades after the RBI warned lenders of a regulatory breach last week, saying they must limit their holdings of such unlisted securities to no more than 10% of investments classified as the non-statutory liquidity ratio portfolio. China added new credit at the slowest pace since February 2020 when the nation was in the depths of the initial Covid-19 lockdown, with the slowdown exacerbated by a drop in shadow banking. All eyes will be on US inflation data due later today.

11 Aug 2021, 04:02:49 PM IST

Rupee settles on flat note, down 1 paisa against US dollar

The Indian rupee settled just 1 paisa lower at 74.44 (provisional) against the US dollar on Wednesday amid a muted trend in the domestic equity market. At the interbank forex market, the local unit opened at 74.43 against the greenback and witnessed an intra-day high of 74.37 and a low of 74.48. It finally ended at 74.44 against the American currency, registering a fall of just 1 paisa over its previous close. On Tuesday, the rupee had settled at 74.43 against the US dollar.

11 Aug 2021, 04:00:53 PM IST

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

"The index saw a sharp selloff, but managed to take support around the 16,150 level. It bounced well and has again managed to close in the vicinity of 16,300. If we can close above the 16,300 level, the Nifty can move up to 16,600. Until then any intraday correction can be utilized to accumulate long positions as the trend is positive."


11 Aug 2021, 03:46:30 PM IST

Market closing

Sensex closed at 54,525.93, down 28.73 points or 0.05%, while Nifty was at 16,282.25, up 2.15 points or 0.01%. Pharma, auto and financials were top drags at market close. On the 30-share Sensex, Tata Steel, NTPC, Power Grid and 10 other stocks closed in green, while Kotak Mahindra Bank, Bajaj Auto, Sun Pharma, and 13 other stocks closed in red.

Sensex at close
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Sensex at close
11 Aug 2021, 03:29:13 PM IST

Novartis India trades lower

Novartis India's stock was trading at 841.25 each, down 4.65% at 3:28 pm. The company reported June quarter profit of 62.8 million compared to 43.9 million a year ago. June quarter revenue from operations stood at 981.1 million compared to 924.6 million a year ago.

11 Aug 2021, 03:24:46 PM IST

Gold firms but taper bets outweigh impact of virus surge

Gold edged higher on Wednesday as concerns over the rapid spread of the Delta coronavirus variant spurred some safe haven buying though gains were capped by bets on early tapering by the U.S. Federal Reserve and a firm dollar. Spot gold was up 0.2% at $1,732.50 per ounce by 0919 GMT, recovering some ground after four straight sessions of declines. U.S. gold futures rose 0.1% to $1,733.60. (Reuters)

11 Aug 2021, 03:15:36 PM IST

Govt may reach out to 17 cos for retro tax relief: report

The government may approach 17 companies which will see relief due to the recent retrospective tax amendment, CNBCTV18 reported. Rajya Sabha on Monday took up The Taxation Laws (Amendment) Bill, 2021, with Opposition Congress, DMK and TMC staging a walkout, saying adequate time was not given to them to prepare for a discussion on the proposed legislation.

11 Aug 2021, 03:07:28 PM IST

ED penalises Bank of Baroda under FEMA rules

Enforcement Directorate has imposed a penalty of 5 crore under Section 13(1) of FEMA 1999 on Bank of Baroda for allowing remittance of the proceeds

towards the interest payment in the account of Amrapali Silicon City

Pvt. Ltd. The lender is examining the order for future course of action, it said.

11 Aug 2021, 02:47:42 PM IST

BSE clarifies on new additional surveillance rules; midcap, smallcap stocks recover

The Bombay Stock Exchange (BSE) on Wednesday clarified on the new additional surveillance rules that intends to curb excessive price movement in securities listed on BSE trading platform. Midcap and smallcap stocks made a smart recovery post the clarification after trading with cuts from the past two sessions. BSE in a circular on Wednesday that in partial modification and supersession of the Exchange circular dated August 09, 2021, the following clarifications are being provided to simplify the understanding and implementation of the framework that the said framework is applicable to BSE Exclusive securities in groups viz. X, XT, Z, ZP, ZY, Y. (Read here)

11 Aug 2021, 02:30:02 PM IST

India’s Stricter Emissions Rules Will Hit Car Sales, Maruti Says

India’s biggest automaker has warned that strict European-style emissions rules due to start next year will force up car prices, dealing another blow to an industry that was in a slump even before the pandemic hit. “Demand will fall further, and instead of any growth there will be a decline in the industry," Maruti Suzuki India Ltd. Chairman R.C. Bhargava said in an interview. “The industry view is that it’s already suffering a decline because of Covid, and on top of that we add further to the cost of vehicles because of new regulations." (Bloomberg)

11 Aug 2021, 02:16:39 PM IST

What Modi govt's top official reveals on Air India, BPCL privatisation plan

The Modi government intends to privatise national carrier Air India and state-owned refiner Bharat Petroleum Corp Ltd this year, Tuhin Kant Pandey, Secretary, secretary, department of investment and public asset management (DIPAM) said at CII Annual Session, news agency ANI tweeted. "Our disinvestment is back on track. We intend to privatize Air India privatization this year and are also aiming for BPCL privatization this year itself," said Tuhin Kant Pandey, secretary, DIPAM. (Read here)

11 Aug 2021, 02:16:39 PM IST

Eurosport India bags Tokyo 2020 Summer Paralympic Games broadcast rights

Eurosport India, the sports channel from broadcast network Discovery, on Wednesday said that it has secured the broadcast rights of the Tokyo 2020 Summer Paralympic Games scheduled to be held between 24 August and 5 September, 2021. The sports channel shall be the exclusive pay TV partner in the SAARC countries. The Paralympic Committee of India has awarded the rights to Eurosport India that includes showcase of live sports, delayed telecast and highlights across key events in 22 sporting disciplines. This will be Eurosport’s first global multi-sport event in India.

11 Aug 2021, 02:11:25 PM IST

Safari Industries stock guidance: Amarjeet Maurya AVP - Mid Caps, Angel Broking

"During the Q1FY22, Safari Industries Ltd (SIL) reported consolidated revenue of 120 crore (up 497% year-on-year) mainly due to healthy recovery in sales. On the consolidated ebitda front, the company has reported profit of 7 crore against loss of 19 crore in Q1FY21 due to better operating leverage. On the bottom-line front, the company has reported profit of 2.5 crore against loss of 19 crore due to higher sales and better operating performance. Going forward, we expect SIL to report strong top-line and bottom-line growth on the back of strong growth in the organized sector, wide distribution network, strong brand and promoter initiatives. We are positive on the stock with a 'Buy' rating."

11 Aug 2021, 02:07:51 PM IST

RBL Bank gets accredited as an Agency Bank to RBI

RBL Bank on Wednesday announced that it has been empanelled by the Reserve Bank of India (RBI) as an ‘Agency Bank’ to conduct banking business for the central and state governments, the bank informed in a regulatory filing. The announcement comes close on the heels of a recent RBI guideline that authorises scheduled private sector banks as Agency Banks of the regulator for the conduct of government business. (Read here)

11 Aug 2021, 02:07:51 PM IST

Twenty states carried forward unutilised borrowings of ₹2.6 tn to FY22: Icra

Twenty state governments have aggregate unutilised borrowings of 2.6 trillion for FY21, which have been carried forward to FY22, according to estimates by rating agency Icra. For the current fiscal, of the normal net borrowing ceiling (NBC) of 4% of gross state domestic product (GSDP) set by the Union government for the 28 state governments (Rs. 8.5 trillion), 3.5% of GSDP may be considered unconditional. The permission for the balance 0.5% of GSDP (Rs. 1.1 trillion) has been earmarked by the government towards incremental capital expenditure by state governments in FY22, making it effectively conditional in nature. The size of unutilised borrowings of FY21 as a proportion of the FY2022 GSDP exceeds 0.5% of GSDP for 15 states, reducing their likely dependence on the conditional borrowing of 0.5% of GSDP, Icra said. (Read here)

11 Aug 2021, 01:41:56 PM IST

Sensex heatmap

Bajaj Auto, M&M, Sun Pharma top drags
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Bajaj Auto, M&M, Sun Pharma top drags
11 Aug 2021, 01:25:27 PM IST

Cadila Healthcare trades lower

Cadila Healthcare's stock was trading at 559.40 each, down 3.18%. The company reported Q1 ebitda of 9.3 billion compared to 8.15 billion a year ago. Q1 ebitda margin stood at 23% compared to 22.40% a year ago. The pharma company’s business in the US posted sales of 14.51 billion.

11 Aug 2021, 01:05:30 PM IST

L&T to divest entire stake in hydroelectric power project to Renew Power

Larsen & Toubro on Wednesday announced the divestment of 100% stake in the 3 x 33 MW (99 MW) run of the river hydroelectric power plant owned by its subsidiary L&T Uttaranchal Hydropower Limited (LTUHPL) to Renew Power Services Private Limited, a wholly owned subsidiary of Renew Power Private Limited. (Read here)

11 Aug 2021, 12:50:49 PM IST

Trent’s Q1 marred by second covid wave; stock down 8% post results

Trent Ltd’s June quarter results (Q1FY22) show that the recovery being witnessed following the easing of the first lockdown last year has paused. After all, standalone revenues declined as much as 58% vis-à-vis the March quarter. Of course, year-on-year growth numbers were exceptionally high given the low base. The company’s fashion business (Westside and Zudio) operated for just 46% of the trading days, although this was up from 26% in Q1FY21. This measure stood at 80% for the March quarter. (Read more)

11 Aug 2021, 12:35:25 PM IST

Lupin Ltd commentary: Yash Gupta, equity research associate, Angel Broking Ltd

"Lupin Ltd reported top line growth of 22.1% at 4,237.3 crore as compared to 3,468.6 crore in Q1FY21. Company reported ebitda of 992.6 crores, up by 86% as compared to 531 crores in Q1FY21 and ebitda margins of 23.4%, up by 810 bps. Profit before tax was up by 175% at 750 crore as compared to 272.4 crore. Lupin has reported good growth in topline as well as bottom line, but below the market expectations as Q1FY21 was the low base for the company due to covid related disruptions. Company has reported a dip in gross profit margins from 65% to 63.9% quarter-on-quarter. Domestic market has done well for the company, domestic market sales were up by 27.3% year-on-year and 27.2% quarter-on-quarter. We expect the domestic market to continue its momentum for the next couple of quarters. We have a neutral outlook on Lupin Ltd."

11 Aug 2021, 12:03:22 PM IST

Dipam Secy Tuhin Kanta Pandey at CII

- LIC IPO can be expected this fiscal

- 50,000 cr dividend expected from CPSEs

- BEML divestment to be completed this year

- EoIs for Concor expected as soon as land lease policy is finalised

11 Aug 2021, 11:59:22 AM IST

TPG-Backed PharmEasy owner mulls $1 bn IPO

API Holdings Pvt., owner of India’s largest online pharmacy PharmEasy, is considering a Mumbai initial public offering that could raise as much as $1 billion, Bloomberg reported, citing people familiar with the matter. The company, backed by TPG and Temasek Holdings Pte, is working with advisers on a potential offering that could take place by March 2022, the people said. The firm plans to file a draft prospectus before the end of October, said one of the people, who asked not to be identified as the information is private. In June, API Holdings unit Docon Technologies Pvt. Ltd agreed to acquire a 66.1% stake in diagnostic chain Thyrocare Technologies for 4,546 crore.

11 Aug 2021, 11:52:37 AM IST

Dabur India trades lower

Dabur India's stock was trading at 574.50 each, down 0.85% at 11:51 am. The company's promoters, the billionaire Burman family is set to pare its stake and give up control of a life insurance joint venture with UK’s Aviva Plc as part of its strategy to raise capital for the core consumer goods business, two people with direct knowledge of the matter said. The deal will see the Burman family stake drop to 26% from the current 51% in Aviva Life Insurance Co., the people said, requesting anonymity. Aviva’s holding will rise to 74%, giving the foreign partner control of the life insurer.

11 Aug 2021, 11:45:55 AM IST

Shipping Corporation of India trades lower

Shipping Corporation of India's stock was trading at 103.45, down 1.19% at 11:41 am. The company reported a shortage of containers, however, chief executive H.K. Joshi said this was not a matter of concern. The company top line reported a drop owing to demand shortage in the tanker segment. On 4 August, the company reported reported a consolidated net profit of 158.51 crore for the first quarter of the current fiscal. The company had clocked a consolidated net profit of 336.87 crore in the corresponding period a year earlier, according to a regulatory filing.

11 Aug 2021, 11:36:02 AM IST

Sugar prices rise on destruction of sugarcane crops in Brazil

Sugar prices hit their highest level in more than four years on Tuesday after a report confirmed damage to sugarcane crops in the world's larger producer Brazil from unusually harsh frosts in June and July, Bloomberg reported. Sugar production in Brazil's centre-south region fell by 11% in the second half of July to 3 million tonnes, industry group Unica said, more than expected. Unica added that the three waves of frosts that hit the agricultural areas had further damaged crops already hurt by the worst drought in 90 years. Earlier, Fitch Solutions had again revised its 2021 price forecast for sugar upwards as prices remained more supported than it was expecting amid bad weather in Brazil. It now forecasts prices to average USc16.5/lb in 2021 compared with USc14.7/lb previously. This suggests sugar prices will average at their highest level since 2016 in 2021. (Read more)

Sector Watch: Sugar
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Sector Watch: Sugar
11 Aug 2021, 11:36:02 AM IST

GMR Infra plans to raise ₹6,000 crore

GMR Infrastructure on Tuesday said its board will consider a proposal for raising up to 6,000 crore through various routes at its meeting on August 13, 2021. In a BSE filing, GMR Infrastructure said it would consider raising funds of up to 6,000 crore in one or more tranche(s), through the issue of securities, including a qualified Institutions placement and/or foreign currency convertible bonds and/or any other securities. The company said its Board of Directors is scheduled to meet on August 13 to consider and approve the unaudited financial results for the quarter ended June 30, 2021. PTI BKS BAL BAL

11 Aug 2021, 11:20:45 AM IST

Base metals commentary: Yash Sawant, research associate, Angel Broking

"Copper prices are down by 0.5% on the MCX as well as on the LME in today's session as the supply side stress for Copper ease. The BHP Group and the labor union at Escondida mine struck a tentative deal on Tuesday after months of negotiations which took some pressure off the Copper supply chain.

The ongoing labor negotiations in several mines of Chile had raised genuine supply concerns in the global Copper market in time of booming demand. However, the tentative deal at the Escondida Mine, world’s largest copper deposit, has averted the worries over a potential strike, which dragged the prices lower."

11 Aug 2021, 11:19:21 AM IST

RattanIndia to make strategic investment in US-based drone platform Matternet

Indian conglomerate RattanIndia Enterprises Ltd., which has interests in power generation, transmission, electric mobility, consumer finance and renewable energy, on Tuesday said that it will make a strategic investment in US-based urban drone logistics platform Matternet. (Read here)

11 Aug 2021, 11:11:07 AM IST

Stellaris Venture Partners raises $225 million second fund

Early-stage venture capital firm Stellaris Venture Partners has closed its second fund at $225 million, much higher than it had planned, supported by existing limited partners or backers as well as other global institutions. Global institutional capital forms 80% of the capital base of the second fund and the remaining was raised from founders based in India and the US. Its first close in April and was fully subscribed within 45 days. (Read here)

11 Aug 2021, 10:55:19 AM IST

Rupee opens on flat note, inches 4 paise higher to 74.39 against US dollar in early trade

The Indian rupee opened on a flat note and inched 4 paise higher to 74.39 against the US dollar in opening trade on Wednesday, amid a negative trend in domestic equities. At the interbank foreign exchange, the rupee opened at 74.43 against the dollar, then inched 4 paise higher to 74.39. On Tuesday, the rupee had settled at 74.43 against the US dollar. (PTI)

11 Aug 2021, 10:46:47 AM IST

ICICI Bank, Kotak Mahindra, HDFC twins top drags

Sensex index contribution
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Sensex index contribution
11 Aug 2021, 10:45:38 AM IST

Prestige realty top drag

Nifty Realty index
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Nifty Realty index
11 Aug 2021, 10:38:32 AM IST

Yes Bank eyes partnerships for ARC

Private sector lender Yes Bank is looking to partner with investors to set up an asset reconstruction company and has appointed EY as its process advisor, according to a public notice on Wednesday

11 Aug 2021, 10:26:39 AM IST

BSE SmallCap Index down 688.62 points

BSE Smallcap Index
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BSE Smallcap Index
11 Aug 2021, 10:26:39 AM IST

Prestige Estates stock down 7% on weak Q1 earnings, high debt

Shares of Prestige Estates Projects Ltd fell 7% on the NSE in Wednesday's opening trade reacting to its June quarter earnings. Covid-led disruption weighed on the company's residential sales impacting its overall performance.

The Bangalore-based real estate developer reported subdued results with booking volume at 1.1 million square feet (msf) down 60% sequentially. Sales value at 734 crore fell around 59% during the quarter. Overall collections stood at 1,023 crore, down 42% sequentially, out of which the company's share was 827 crore.

11 Aug 2021, 10:20:13 AM IST

Zomato gains

Zomato:'s stock was tradign at 130.75 each, up 4.64% at 10:18 am. The food delivery platform on Tuesday reported a sharp increase in quarterly loss in its first earnings release after last month’s blockbuster initial public offering. Loss widened to 360.7 crore in the quarter ended 30 June from 134.2 crore in the preceding three months because of an expanded Employee Stock Ownership Plan (ESOP) pool. The company compared earnings sequentially as its financials for the first quarter of FY21 were severely impacted because of the covid-19 outbreak and subsequent national lockdown. (Read more)

11 Aug 2021, 10:18:00 AM IST

'Lots of opportunities': India seeing fund inflows after China crackdown, says Mark Mobius

India and some other emerging markets and the US are seeing fund inflows redirected from China as recent regulatory crackdowns in the world's second-biggest economy have spooked markets, says veteran investor Mark Mobius, who is often referred to as emerging markets guru. "I would say half the money has just left ... But I think that is temporary, it will not last," Mobius, emerging markets fund manager and founder of Mobius Capital Partners, told the Reuters Global Markets Forum (GMF). (Read here)

11 Aug 2021, 10:10:03 AM IST

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

"The Nifty continues its struggle to keep above the 16,300 level. It is facing resistance every time it tries to conquer it. If we can get past that on a closing basis, we should go up higher to 16,600. On the flip side, a good support lies at 16,100. As long as that holds, we are in bullish terrain."

-

11 Aug 2021, 10:06:46 AM IST

Realty, pharma top drags

Nifty sectoral indices
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Nifty sectoral indices
11 Aug 2021, 09:47:20 AM IST

Vodafone Idea files review petition on July 23 SC ruling

Vodafone Idea's stock was trading at 6.52, down 2.25% at 9:47 am. It has filed a review petition of the Supreme Court's 23 July ruling on the adjustment of arithmetic errors" in the computation of AGR dues. Airtel is also likely to move the court for relief, according to CNBC TV. Earlier the Supreme Court dismissed the applications of Vodafone and Bharti Airtel for the recomputation of AGR dues demanded by the Department of Telecommunication (DoT).

11 Aug 2021, 09:35:57 AM IST

Pharma, realty top drags

Nifty sectoral indices
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Nifty sectoral indices
11 Aug 2021, 09:33:05 AM IST

Chinese court convicts Canadian Michael Spavor to 11 years in prison in espionage case

A Chinese court convicted Canadian businessman Michael Spavor of espionage on Wednesday and sentenced him to 11 years in prison, in a case seen in Ottawa and Washington as part of a wider diplomatic spat with Beijing. His sentencing comes as lawyers in Canada representing the chief financial officer of Chinese telecoms giant Huawei make a final push to convince a court there not to extradite her to the United States. The Dandong Intermediate Court also said 50,000 yuan of Spavor's personal assets will be confiscated and he will be deported, although it was not clear when. Beijing-based lawyer Mo Shaoping told Reuters that deportation generally takes place after the person has finished serving the sentence but may happen earlier for special cases. (Reuters)

11 Aug 2021, 09:17:16 AM IST

Market opening

The Sensex opened at 54,724.12, up 169.46 points or 0.31%, while the Nifty was at 16,327.30, up 47.20 points, or 0.29%. IT, pharma, realty were top drags. On the 30-share Sensex, Tata Steel, Maruti, Bajaj Finance, and 22 other stocks opened in green, while IndusInd Bank, Nestle India, Bharti Airtel, Titan, and Ultratech opened in red.

Sensex at open
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Sensex at open
11 Aug 2021, 09:13:45 AM IST

Pre-market opening quote: Gaurav Udani, CEO and founder, ThincRedBlu Securities

"Nifty is expected to open positive , up by about 40 points at 16,310 levels. Since the last few days, Nifty had been trading in the 16,180 to 16,360 range. On the break of 16,360 on closing basis with higher than average volumes, Nifty can test 16,450 and 16,500 levels in the next few days. Bank Nifty can test 37,000 levels if it closes above 36,200 with good volumes. Trend in Nifty will remain bullish as long as it is trading above 15,900 levels."

11 Aug 2021, 09:11:09 AM IST

Market pre-opening

At pre-opening, the Sensex was at 54,730.65, up 175.99 points, or 0.32%, while the Nifty was at 16,280.10, up 21.85 points or 0.13%.

Sensex at pre-open
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Sensex at pre-open
11 Aug 2021, 09:04:00 AM IST

QSR operator Sapphire Foods India files DRHP for IPO

Pizza Hut franchise operator Sapphire Foods India Ltd has filed a draft red herring prospectus with the Securities Exchange Board of India to raise funds via an initial public offering. The IPO consists of a pure offer for sale of 17.57 million shares by existing shareholders and promoters.

11 Aug 2021, 09:01:45 AM IST

Kejriwal to launch 'faceless' transport services today in Delhi. Details here

Delhi chief minister Arvind Kejriwal will launch the transport department's 'faceless' services today (i.e. on Wednesday, August 11). The Delhi government bringing online all the driving licences, registration 4 and permit-related services of its Transport department, four motor licensing offices will get closed down, according to an order of the department on Tuesday. (Read here)

11 Aug 2021, 08:46:35 AM IST

Hackers steal $600 million in major cryptocurrency heist

A firm specializing in transferring cryptocurrency said Tuesday that hackers cracked its security, making off with a record-setting haul potentially worth $600 million. Poly Network put out a plea for the stolen Ethereum, BinanceChain and OxPolygon tokens to be shunned by traders running "wallets" for storing cryptocurrency. (Read here)

11 Aug 2021, 08:34:41 AM IST

TikTok surpasses Facebook to become most downloaded app worldwide

Chinese video-sharing app TikTok was the world's most downloaded app in 2020, overtaking Facebook and its messaging platforms, a survey has revealed.

According to data compiled by Nikkei Asia from analytics platform App Annie, TikTok was at the number 4 spot in 2019. It managed to become the most downloaded app in the US in 2020, overtaking Facebook Messenger, the report added. (Read here)

11 Aug 2021, 08:34:42 AM IST

Google employees who work from home may suffer pay cut

Google employees based in the same office before the pandemic could see different changes in pay if they switch to working from home permanently, with long commuters hit harder, according to a company pay calculator seen by Reuters. (Read here)

11 Aug 2021, 08:34:42 AM IST

BSE's India INX to allow trading in foreign stocks

The India International Exchange (India INX) on Tuesday said it will soon facilitate buying and selling of shares of foreign stocks, including major US-listed companies, through its platform. (Read here)

11 Aug 2021, 08:28:40 AM IST

Day trading guide for Wednesday: 3 stocks to buy or sell today — 11th August

Soon, you will be able to buy stocks of select US companies through the National Stock Exchange’s (NSE’s) International Financial Services Centre (IFSC) platform in Gujarat’s GIFT City. On Monday, NSE said this will make US stocks affordable for Indian retail investors. (Read here)

11 Aug 2021, 08:28:40 AM IST

Bitcoin roars back, putting $100,000 predictions in vogue again

Day trading guide for Wednesday: The range-bound action with volatility continued in the markets for the fourth consecutive sessions on Tuesday. The NSE Nifty closed 21 points higher at 16,280 while BSE Sensex surged 151 points and closed at 54,554 levels on Tuesday. On a day of normal volumes, telecom and IT went upside the most while realty, power and metals fell the most. Advance decline ratio was the lowest since 23rd December 2020. S&P BSE mid-cap index slipped nearly 1 per cent and the S&P BSE small-cap shed over 2 per cent. In the global markets, Wall Street continues to remain choppy as Dow Jones ended 0.46 per cent higher while Nasdaq shed 0.49 per cent on Tuesday. (Read here)

11 Aug 2021, 08:28:40 AM IST

A Swiggy IPO likely to deliver good returns: SoftBank's Masayoshi Son

SoftBank founder Masayoshi Son on Tuesday said its portfolio company Swiggy is expected to deliver “good returns" if the food delivery platform were to go public. Speaking at a post-earnings presentation for SoftBank, Son said one of Swiggy's rivals has recently gone public and its share price is doing great. (Read here)

11 Aug 2021, 08:24:53 AM IST

Coal India Q1 results: Net profit rises 52% to ₹3,170 crore

Coal India on Tuesday reported a Q1 consolidated net profit at 3,170 crore, up 52% as compared to 2,078 crore in the same quarter last year. The company's total revenue from operations rose nearly 37% to 25,282 crore as against 18,487 crore year-on-year (YoY). (Read here)

11 Aug 2021, 08:19:31 AM IST

Earnings today

Aster DM Healthcare, Bajaj Electricals, Bata India, CESC Ltd, Cadila Healthcare, Cummins India, Equitas Holdings, GE Power India, GIC Housing, Greaves Cotton Ltd, IDFC Ltd, India Cements, Lemon Tree Hotels, Navneet Education, NESCO Ltd, New India Assurance, Pidilite Industries, PNC Infratech, PTC India, VIP Industries, among other companies will post their Q1 results today.

11 Aug 2021, 08:19:32 AM IST

Stocks to Watch

RIL, Vedanta, Zomato, JSPL, IndusInd Bank, among othjer stocks may be in the news today. (Read here)

11 Aug 2021, 08:10:10 AM IST

Market outlook

Markets are likely to consolidate on Wednesday while trends in SGX Nifty suggest a positive opening of Indian benchmark indices. On Tuesday, the BSE Sensex closed at record high with the 30-share index gaining 151.81 points or 0.28% at 54,554.66. The Nifty was up 21.85 points or 0.13% at 16,280.10. (Read here)

11 Aug 2021, 08:00:25 AM IST

India asks its nationals in Afghanistan to make travel arrangements to return back

India on Tuesday urged its nationals in Afghanistan to make immediate arrangements to return before air services are discontinued to their place of stay or travel given the deteriorating security situation in the country.

The advisory issued by the Indian embassy in Kabul came on a day when New Delhi evacuated its diplomatic staff from the consulate in northern Mazar-e-Sharif city, capital of Balkh province, bordering Uzbekistan and Tajikistan. This followed reports of fierce fighting between the rebel Taliban and Afghan security forces and militias owing allegiance to Afghan warlords as the country looked set to spiral into civil war. (Read here)

11 Aug 2021, 07:45:54 AM IST

Asian markets steady

Asian stocks were mixed Wednesday as investors awaited a key report on U.S. inflation. Treasuries and the dollar were steady. Shares rose in Japan and Australia and fluctuated elsewhere. U.S. futures were little changed. Earlier, the S&P 500 climbed to an all-time high, while the tech-heavy Nasdaq 100 declined. Chip stocks slipped, while energy shares rallied. Crude oil bounced back from a three-week low on bets that the global demand recovery will remain intact despite the fast-spreading delta virus variant. Data out Wednesday are expected to show prices paid by U.S. consumers grew in July at the slowest pace in five months, though remain elevated.S&P 500 futures were little changed as of 10:48 a.m. in Tokyo.

The S&P 500 rose 0.1%

Nasdaq 100 contracts were little changed. The Nasdaq 100 fell 0.5%

Topix index rose 0.8%

Australia’s S&P/ASX 200 Index rose 0.5%

Kospi index fell 0.2%

Hang Seng Index was little change

Shanghai Composite Index rose 0.2%

SGX Nifty was up 0.26%

11 Aug 2021, 07:32:51 AM IST

US stocks close higher after Senate passes $1 tn infra Bill

Global stock markets strengthened on Tuesday, hovering close to record highs, while U.S. Treasury yields rose to their highest levels since mid-July, spurred by Federal Reserve tapering talk. Sentiment was boosted by the U.S. Senate passing a $1 trillion bipartisan infrastructure bill that could provide the US with its biggest investment in decades in roads, bridges, airports and waterways. That helped the Dow Jones Industrial Average and S&P 500 close at record highs.

The Dow Jones Industrial Average rose 162.82 points, or 0.46%, to 35,264.67, the S&P 500 gained 4.4 points, or 0.10%, to 4,436.75 and the Nasdaq Composite dropped 72.09 points, or 0.49%, to 14,788.09.

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