Market closing: Sensex surged over 400 points today to touch a high of 52,806.86, while the Nifty ended higher by 120 points, or 0.76%, at 15,812.35. While banks and financials led gains on the bourses today, IT and FMCG stocks weighed
Investor focus this week will also be on a series of economic data, including headline US inflation data and retail sales. Federal Reserve Chair Jerome Powell is due to appear before Congress on Wednesday and Thursday for views on inflation.
13 Jul 2021, 03:46:22 PM IST
Sensex, Nifty end higher led by surge in banks, financials
Domestic stock markets notched up healthy gains on Monday, with the benchmark Sensex closing 397 points, or 0.76%, higher at 52,769.73 while the Nifty rose 120 points to end at 15,812.35.
ICICI Bank, HDFC, Axis Bank, Sun Pharma, and NTPC were among the top gainers on the Sensex.
BSE Midcap and SmallCap also closed higher.
Among Nifty sectoral indices, barring IT, media and FMCG, all ended higher. Banking and financial index rose a percent each.
13 Jul 2021, 03:29:41 PM IST
OPEC+ yet to make progress in resolving impasse, sources say: Reuters
OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely, OPEC+ sources said.
Russia has been working behind the scenes to bring Riyadh and Abu Dhabi back to the table to find a path to agreement, sources told Reuters. But a Russian source said on Monday a meeting this week was not expected.
13 Jul 2021, 03:27:02 PM IST
Nifty gainers/losers at this hour
13 Jul 2021, 03:19:23 PM IST
Info Edge declines ahead of Zomato IPO
Zomato's initial public offering (IPO) will open for subscription on 14 July and close on 16 July. Info Edge holds a stake of about 18.55 percent in the food delivery platform.
Zomato's ₹9,375-crore public offer comprises fresh issuance of equity shares of ₹9,000 crore, and an offer for sale of ₹375 crore by existing selling shareholder Info Edge.
Delhi NCR housing sales up 50% during April-June, says report
Delhi NCR witnessed a 50% year-on-year surge in sales in the April-June quarter. Amid the second wave of the pandemic, 2,828 units were sold last quarter when compared to 1,886 units in the year-ago period, as per a report by property brokerage firm PropTiger.com.
Sequentially, however, sales fell 54%.
Fresh supply declined 59% during April-June quarter.
13 Jul 2021, 03:01:36 PM IST
Nifty Bank top gainer among sectoral indices
13 Jul 2021, 02:54:30 PM IST
Gmail will start attaching brand logos on emails to deter hackers
Avenue Supermarts Ltd owns and operates the supermarket chain D-MART, focused on value retailing. It offers a wide range of fast-moving consumer products, general merchandise and apparel. In 1QFY22, Avenue Supermarts has shown strong revenue growth of ~33% and adjusted profit growth of ~138%. Going forward, we expect healthy revenue growth on the back of 238 D-MART stores, which are expected to increase further, and offer significant discounts compared to other players. Hence, we are positive on stock.
Lupin launches Tavaborole Topical Solution in the US
Tavaborole Topical Solution is used to treat fungal toenail infections and has estimated annual sales of $53 million in the US. The drug will be manufactured at Lupin’s facility in Pithampur, Madhya Pradesh.
European stock markets were mixed at open on Tuesday, with focus on key US inflation data due later in the day.
London's benchmark FTSE 100 index grew 0.2% to 7,141.58 points. In the eurozone, Frankfurt's DAX 30 fell 0.2% to 15,754.91 points and the Paris CAC 40 shed 0.2% to 6,548.30.
13 Jul 2021, 01:51:23 PM IST
HDFC twins, ICICI Bank, RIL fuel Sensex surge
13 Jul 2021, 01:46:09 PM IST
Oil demand surges, market set for deficit and volatility: IEA
Oil demand surged last month as rising vaccination rates helped underpin robust economic activity, but with OPEC nations pumping less than needed prices are set to be volatile until it reaches a deal to raise output, the IEA warned on Tuesday.
A meeting of OPEC nations earlier this month was deadlocked over plans to gradually ease production cuts, imposed to reverse the plunge in oil prices at the start of the coronavirus pandemic as demand tumbled.
But demand is rebounding, with the International Energy Agency estimating it surged by an estimated 3.2 million barrels per day (mbd) last month, which is more than a third of the overall drop in demand last year.
13 Jul 2021, 01:36:13 PM IST
RDIF, SII plan to start production of Sputnik vaccine in Sep
13 Jul 2021, 01:30:19 PM IST
France fines Google 500 mn euros in news copyright row: AFP
13 Jul 2021, 01:27:31 PM IST
QIFY22 credit card spends seen 8% lower sequentially
Credit card spends in Q1FY22 will likely fall 8% quarter-on-quarter, analysts said.
For SBI Card, analysts at ICICI Securities expect total spend at Rs33,300 crore in Q1FY22 as against Rs35,900 crore in Q4FY21. At the systemic level, the impact of covid second wave on credit card as well as other payments, has been much less than during the first wave, and recovery too has been faster, they said.
13 Jul 2021, 01:15:57 PM IST
Sensex stocks at this hour
13 Jul 2021, 01:07:09 PM IST
Paytm board shuffle continues, Neeraj Arora joins
More than three years after quitting IPO-bound One97 Communications Ltd.’s (OCL) board, former WhatsApp business head, Neeraj Arora has been reappointed as an additional director to the company’s reshuffled board of directors, according to company filings with the ministry of corporate affairs.
One97 Communications Ltd. is the parent company which owns the brand Paytm. (Read here)
13 Jul 2021, 12:57:49 PM IST
NTPC floats global tender for 1 GWh of grid-scale battery storage
In a push to India’s green energy plans, state-run NTPC Ltd has floated a global tender for setting up a 1,000-megawatt hour (MWh) grid-scale battery storage system.
The plan involves designing, building, and operating such a system and also offers a co-investment partnership. One GWh (1,000-MWh) of battery capacity is sufficient to power 1 million homes for an hour and around 30,000 electric cars.
Customs duty relief granted on seven items to fight covid
The central government has given temporary customs duty exemption on seven organic chemicals used in the pharmaceutical industry in view of the covid pandemic.
An official notification from the Central Board of Indirect Taxes and Customs (CBIC) said the relief on six of the chemicals including egg lecithin and cholesterol HP are available till end of August. The duty exemption on another item, raw materials for manufacturing covid test kits, is available till end of September, said the notification issued on Monday.
13 Jul 2021, 12:37:35 PM IST
Singapore's Temasek reports record portfolio value, boosted by market rally: Reuters
Singapore's Temasek Holdings reported a 25% rise in its portfolio value to a record S$381 billion ($282 billion) in the year ended March 2021, with gains powered by a global equities rally and the public listing of some of its holdings.
The gain in its portfolio value came after a 2.2% drop in the previous year, with the state investor notching up record investments and divestments in the latest year, Temasek executives told a news conference on Tuesday.
13 Jul 2021, 12:10:37 PM IST
ASK Property launches Rs1,000 crore real estate fund
13 Jul 2021, 11:53:57 AM IST
High oil and gas prices could impact consumption: S&P Global Platts
A surge in prices of both crude oil and gas will likely dim the chances of a sustained energy demand recovery that India was expecting after a long period of slow growth, clouding the outlook for spot liquefied natural gas (LNG) and crude oil purchases, according to S&P Global Platts.
13 Jul 2021, 11:49:36 AM IST
NPCI overseas arm launches UPI QR code payments in Bhutan
13 Jul 2021, 11:44:56 AM IST
Nifty view: Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments
There is a tendency for the markets to bounce from lower levels and resist at higher levels. This is a perfect example of a sideways market which is currently between 15400 and 15900. Unless we do not get past either level, we will not see a trend with active market participation. If we can get past 15900, we should scale higher to 16100. A break of 15400 can result in a medium-term correction which can take the markets lower to 15100-15200 levels.
13 Jul 2021, 11:42:42 AM IST
Sunteck Realty stock up 8% on robust sales in mid-income segment in Q1FY21
Mumbai-based Sunteck Realty Ltd saw some disruption in its sales momentum in the June quarter due to the second wave of covid. In its operational update, the real estate developer said it saw pre-sales of Rs176 crore in Q1FY22, down 53% sequentially. On a year-on-year basis, given the low base, pre-sales volumes grew 74%.
Even though its collection efficiency improved from a year-ago period, they were hit by restricted mobility in its key market of Mumbai. In the June quarter, collections at Rs172 crore, were down 46% quarter-on-quarter. (Read here)
13 Jul 2021, 11:33:33 AM IST
Nifty gainers/losers at this hour
13 Jul 2021, 11:16:42 AM IST
India's active covid-19 cases decline to 4,31,315: health ministry
13 Jul 2021, 11:11:59 AM IST
Ashoka Buildcon gets order worth Rs726 crore from NHAI
The company has received letter of acceptance from NHAI for development of Memmadpur (Ambala) - Banur (IT City Chowk) - Kharar (Chandigarh) Corridor for Rs726 crore.
CESL to supply 25,000 electric two wheelers for Andhra Pradesh government employees
State-run Convergence Energy Services Ltd (CESL) will supply 25,000 electric two wheelers to New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) for state government employees.
“The Electric 2-Wheelers will be provided on a monthly lease inclusive of a comprehensive insurance that will be deducted as EMI from the volunteering government employee’s account," the two firms said in a joint statement on Tuesday.
13 Jul 2021, 10:36:14 AM IST
Rupee opened at 74.48 to dollar on Tuesday vs previous close 74.57/dollar
13 Jul 2021, 10:15:13 AM IST
India bad bank takes shape with SBI exec as first chief
The National Asset Reconstruction Co. Ltd (NARCL), or the so-called bad bank, has been registered in Mumbai with a paid-up capital of ₹74.6 crore, according to filings with the Registrar of Companies (RoC).
The bad bank will be headed by Padmakumar Madhavan Nair, a stressed assets expert from State Bank of India (SBI), as the managing director. The other directors are Indian Banks’ Association (IBA) chief executive Sunil Mehta, SBI deputy managing director Salee Sukumaran Nair and Canara Bank’s representative Ajit Krishnan Nair. (Read here)
13 Jul 2021, 10:13:30 AM IST
Sectoral indices at this hour
13 Jul 2021, 09:50:48 AM IST
Sunteck Realty surges after robust sales growth in Q1FY22
The company reported a 74% year-on-year rise in bookings to Rs176 crore for the quarter ended June. The rise in bookings was led by mid-income and affordable housing projects.
Shilpa Medicare rises on transfer of API business to subsidiary
The board of the company has approved the transfer of its API business consisting of Unit-1 and Unit-2 situated at Raichur, Karnataka, by way of slump sale to a wholly owned subsidiary of the company, subject to shareholder approval.
Southwest monsoon advanced into Delhi 13 July: IMD
13 Jul 2021, 09:30:24 AM IST
Sensex stocks in opening deals
13 Jul 2021, 09:21:48 AM IST
Nifty in opening deals
13 Jul 2021, 09:19:49 AM IST
Sensex in opening deals
13 Jul 2021, 09:05:45 AM IST
Nifty at pre-open
13 Jul 2021, 09:05:12 AM IST
Sensex higher at pre-open
13 Jul 2021, 08:39:37 AM IST
Oil price check
In early deals today, US crude ticked up 0.3% to $74.32 a barrel while Brent crude rose to $75.37 per barrel.
13 Jul 2021, 08:37:20 AM IST
Despite surging prices, govt says no to tax cut on auto fuel
The Union finance ministry has decided to hold fire on making any tax adjustments, despite retail petrol prices breaching the ₹100 per litre mark in several places across the country. The decision follows a high-level review of the rising trajectory of global oil prices.
The Centre’s decision comes amid mounting expenses to support an economic revival and strengthen India’s healthcare infrastructure when the second wave of the covid-19 pandemic is raging across the country. (Read here)
13 Jul 2021, 08:15:44 AM IST
RBI issues scheme for retailers to invest in government securities
The Reserve Bank of India (RBI) on Monday issued the ‘RBI Retail Direct’ scheme, which is a one-stop solution to facilitate retail investment in government securities. Under this, retail investors (individuals) will have the facility to open and maintain the ‘Retail Direct Gilt Account’ (RDG Account) with RBI, the central bank said.
Mindtree, Tata Metaliks, Deccan Health Care, Gagan Gases, Shree Ganesh Remedies, TPI India, and WS Industries are scheduled to announce their quarterly earnings on Tuesday.
13 Jul 2021, 08:00:16 AM IST
SGX Nifty futures trade higher
SGX Nifty futures traded at 15,829.50, up 119 points or 0.8%, hinting at a higher opening for domestic benchmarks.
13 Jul 2021, 07:39:06 AM IST
FM-led panel to decide quantum of LIC stake sale
With the Cabinet Committee on Economic Affairs (CCEA) having cleared disinvestment of Life Insurance Corp of India, the country's largest insurer, a panel headed by the finance minister will now decide on the quantum of stake dilution, according to a PTI report.
The Department of Investment and Public Asset Management (DIPAM) had in January appointed actuarial firm Milliman Advisors LLP India to assess the embedded value of LIC ahead of the IPO (Initial Public Offering), which is touted to be the biggest public issue in Indian corporate history.
The government expects to come out with the LIC IPO by the end of current fiscal. Up to 10% of the LIC IPO issue size would be reserved for policyholders.
13 Jul 2021, 06:56:56 AM IST
Asian equities follow US stocks higher
Asian stocks opened firmer Tuesday after their U.S. counterparts notched yet more all-time highs as investors awaited second-quarter earnings season. Treasury yields were steady as the U.S. sold debt.
Benchmarks rose in Japan and South Korea, with more subdued gains in Australia, where the Sydney lockdown is weighing on confidence. U.S. contracts fluctuated after the S&P 500 and the tech-heavy Nasdaq 100 closed at new highs.
S&P 500 futures were little changed in early Asian deals. The S&P 500 rose 0.4%
Topix index gained 0.6%, while Australia’s S&P/ASX 200 Index added 0.1%
Kospi index rose 0.6% and Hang Seng Index futures were up 0.3%.
13 Jul 2021, 06:53:43 AM IST
Wall Street indices end higher boosted by Tesla
Wall Street's main indexes closed at their highest levels ever on Monday, lifted by Tesla and bank stocks as investors eyed the start of the second-quarter earnings season and a batch of economic data.
The S&P 500 financials, communication services and real estate sector indexes each gained more than 0.8%.
The Dow Jones Industrial Average rose 0.36% to end at 34,996.18 points, while the S&P 500 gained 0.35% to 4,384.63.
The Nasdaq Composite climbed 0.21% to 14,733.24.
All three closed at their highest levels ever.
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