Home >Markets >Live Blog >Sensex closes 403 pts higher, Nifty at 16,625; metals, banks surge; IT drags

Sensex closes 403 pts higher, Nifty at 16,625; metals, banks surge; IT drags

Market closing: Indian indices closed over 0.70% higher on Tuesday.Premium
Market closing: Indian indices closed over 0.70% higher on Tuesday.

Market closing: The Sensex closed at 55,958.98, up 403.19 points, or 0.73%, while Nifty was at 16,624.60, up 128.15 times, or 0.78%. IT, FMCG were top drags as metals outshone indices.

Sensex, Nifty closed over 0.70% on Tuesday. Global equities, bond yields and oil rose on Tuesday as a bounce in China's tech sector, positive U.S. vaccination news and easing worries about the U.S. tapering stimulus lifted sentiment ahead of a speech later this week by Fed chair Jerome Powell.

24 Aug 2021, 04:05:53 PM IST

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

"We successfully closed above the 16,600 level which is heartening as this should now allow the Nifty to scale up to 16,800-16,850. A good support lies at 16,400 and the overall momentum is fierce. Therefore any intra day correction or dip should be utilized to buy this market for higher targets."

24 Aug 2021, 03:53:02 PM IST

Rupee inches up 3 paise to close at 74.19 (provisional) against US dollar

24 Aug 2021, 03:45:52 PM IST

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

"Nifty made a bullish bar today. It closed at 16,615 up by 120 points. It closed above its key resistance of 16,550 but however the volumes were lesser than its average volumes. Nifty now has support on 16,600 and 16,550 and will face resistance at 16,700 and 16,750. Buy on dips can be a good strategy for the current markets."

24 Aug 2021, 03:44:16 PM IST

Market closing

The Sensex closed at 55,958.98, up 403.19 points, or 0.73%, while Nifty was at 16,624.60, up 128.15 times, or 0.78%. IT, FMCG were top drags as metals outshone indices. On the 30-share Sensex, Bajaj twins, Tata Steel, and 16 other stocks closed in green, while Nestle India, Infosys, HDFC, and eight other stocks closed in red. 

Sensex at close
View Full Image
Sensex at close
24 Aug 2021, 03:29:32 PM IST

Not enough data in India to decide on covid-19 booster dose: Experts

Not enough data has been generated locally to decide on the need for a booster dose of covid-19 vaccine for those fully inoculated, say experts amid the possibility of a third wave of the viral disease hitting the country between September and October. An expert panel set up by an institute under the Ministry of Home Affairs (MHA) has predicted that the third wave of COVID-19 can hit the country anytime between September and October and suggested significantly ramping up the vaccination pace.

24 Aug 2021, 03:20:05 PM IST

AGR case: Supreme Court bench assembles to hear review petition 

24 Aug 2021, 03:18:03 PM IST

‘Make In India’: iPhone supplier announces big expansion of India business

In a big boost to Prime Minister Narendra Modi's 'Aatmanirbhar Bharat' initiative towards making the country an electronics manufacturing hub, Wistron Corp of Taiwan has partnered with Optiemus Electronics to build products such as smartphones and laptops, among others. (Read more)

24 Aug 2021, 03:14:59 PM IST

Infosys bags new contract from UCAS

Infosys on Tuesday said it has signed a new minimum three-year contract with UCAS, the admissions service for UK higher education. UCAS and Infosys have been engaged in a technology partnership since 2015 but following an extensive tender process, the new contract represents a major step change in the relationship, a statement said. The partnership will focus on delivering seamless customer service experiences through greater automation, innovation and efficiency, it added. (PTI)

24 Aug 2021, 02:54:23 PM IST

Semiconductor shortage temporary, expected to be over by 2022: Maruti chairman

The current semiconductor shortage problem faced by the automobile industry is temporary and is expected to be over by 2022 and Maruti Suzuki India hasn't had a major impact due to it though its production has been hit partly, company chairman RC Bhargava said on Tuesday. Addressing shareholders at the company's annual general meeting held virtually, he also said the country's largest carmaker is looking at the electric vehicle (EV) space but will enter it only when it makes it feasible for customers in terms of affordability and also for the company to operate without making a loss.

24 Aug 2021, 02:42:37 PM IST

India's data centre industry capacity to double by 2023 to 1,008 MW: report

The capacity of data centre industry is expected to double by 2023 to over 1,000 MW to meet the rising demand amid sharp growth in digitalisation, according to property consultant JLL. The industry's capacity is expected to double from 499 MW in January-June 2021 to 1,008 MW by 2023, it added. MW indicates IT design power load. The capacity expansion is "driven by strong digitalisation, rising cloud adoption and ambitious growth plans of data centre operators", JLL India said in a statement. (PTI)

24 Aug 2021, 02:30:23 PM IST

Canara Bank allots over 16.73 cr shares in ₹2,500 cr QIP

State-run Canara Bank on Tuesday said it has approved allotment of over 16.73 crore shares in the 2,500 crore qualified institutions placement (QIP) that closed a day earlier. The QIP opened on 17 August and closed on 23 August 2021.

24 Aug 2021, 02:29:26 PM IST

Centre considers FDI in LIC ahead of IPO: report

24 Aug 2021, 02:18:32 PM IST

India's mobile phone exports grew by 250% in Q1 2021

Mobile phone exports from India grew by a massive 250% year-on-year growth in April-June 2021, according to the India Cellular and Electronics Association (ICEA). The industry body said the country has seen a sharp decline in mobile phone imports over the past year, dropping to 600 crore in the first quarter of 2021-22, from Rs. 3100 crore in 2020-21. “This is an all time low since 2014-15," said Pankaj Mohindroo, Chairman of the ICEA. The industry body counts companies like Apple, Foxconn and many others amongst its members.

24 Aug 2021, 02:11:40 PM IST

Microsoft partners Invest India to support tech startups

Microsoft India on Tuesday said it has collaborated with Invest India to support tech startups in the country. As part of the partnership, the Microsoft for Startups programme will work closely with Accelerating Growth of New India's Innovations (AGNIi Mission) - a programme of the Office of the Principal Scientific Adviser to the Government of India, a statement said. Housed and executed by Invest India, AGNIi Mission helps startups become enterprise-ready.

24 Aug 2021, 02:07:46 PM IST

HDFC Capital to invest ₹150 cr in Eldeco’s plotted projects

HDFC Capital Affordable Real Estate Fund 1 (H-CARE 1), managed by HDFC Capital Advisors Ltd, will invest 150 crore in Eldeco Infrastructure and Properties Ltd’s low-rise, plotted development projects in National Capital Region (NCR). The projects will be undertaken by Eldeco Greens Infrastructure Private Limited. Currently, two projects have been identified in Panipat and Faridabad with a total saleable area of 1.5 million sq ft. (Read more)

24 Aug 2021, 02:01:21 PM IST

BharatPe forays into P2P lending with ‘12% Club’

Merchant payments and financial services provider, BharatPe, is bolstering its consumer play, foraying into the peer-to-peer (P2P) lending space with the launch of its product -- 12% Club. BharatPe’s P2P offering will allow individual investors to invest and borrow at 12% interest through the ‘12% Club’ app. For the consumer product, BharatPe has partnered with LenDenClub and is in the process of onboarding Liquiloans. (Read more)

24 Aug 2021, 01:43:52 PM IST

IKEA to launch first city store in Mumbai

Swedish home furnishings retailer IKEA on Tuesday said it is going to open its first-ever city store in India at Mumbai, which would be more accessible to its customers in the city. After opening a large-format store in Navi Mumbai last year, IKEA is now opening a small city store at Worli, Mumbai, located at Kamala Mills, said a statement. "In line with IKEA’s long-term commitment to Maharashtra and India, the Worli store will be the first of its kind in India, following cities such as Paris, Moscow and Shanghai," said a statement. (PTI)

24 Aug 2021, 01:31:03 PM IST

Dhanlaxmi Bank gains

Dhanlaxmi Bank's stock was trading at 14.60 each, up 2.82% at 1:30 pm. The Reserve Bank of India (RBI) has imposed a penalty of 27.5 lakh on Thrissur-based Dhanlaxmi Bank. Further, a 20 lakh penalty was also slapped on the NE & EC Railway Employees’ Multi-State Primary Cooperative Bank, Gorakhpur.

24 Aug 2021, 01:20:51 PM IST

Defence production & export policy will help to attain an annual turnover of ₹1.75 tn by 2025: defence minister Rajnath Singh

24 Aug 2021, 12:58:43 PM IST

Banks sruge over 450 pts

Nifty sectoral indices
View Full Image
Nifty sectoral indices
24 Aug 2021, 12:57:39 PM IST

Maruti Suzuki India trades lower

Maruti Suzuki India's stock was trading at 6,794.50 each, down 0.47% at 12:56 pm.  The country's largest carmaker on Monday said it is examining and will "take appropriate actions under law" with regards to an order by the CCI that imposed 200 crore penalty on it for indulging in anti-competitive conduct and restricting discounts by its dealers.

24 Aug 2021, 12:56:06 PM IST

Oil extends gains

Oil extended gains after jumping more than 5% amid a broader marker rally, despite the Covid-19 resurgence clouding the economic outlook. Futures in New York rose near $66 a barrel after surging for the first time in eight sessions on Monday, snapping the worst losing streak since October 2019. China has rapidly brought local virus cases down to zero and traffic is showing signs of recovery, although the delta variant continues to impact other regions. “The market is taking some comfort in the fact that it appears as though China has brought the latest Covid-19 outbreak under control," said Singapore-based Warren Patterson, the head of commodities strategy at ING Groep NV. “This should help to ease worries over demand."

24 Aug 2021, 12:55:29 PM IST

Tata Power Renewables commissions 150 MW solar project at Loharki, Rajasthan

Tata Power Renewable Energy Ltd. (TPREL), a 100% subsidiary of Tata Power, has announced the commissioning of its 150 MW solar power project in Loharki village of Rajasthan. Spread across 756 acres, the project has been completed by TPREL within the stipulated timeline. The plant is expected to generate more than 350 million units annually. Approximately 656,700 modules were used in the project and the installation is expected to reduce 3.34 lakh tons of carbon. (Read more)

24 Aug 2021, 12:43:40 PM IST

Sensex heatmap

Bajaj twins lead gains
View Full Image
Bajaj twins lead gains
24 Aug 2021, 12:33:55 PM IST

India aims to restart vaccine exports 

India will likely restart exporting Covid vaccines next year once it has immunized its own adult population, the head of a government expert panel said. “Almost 60 countries are hardly having any access to vaccine and India should be able to provide a substantial portion in 2022," N.K. Arora, chairman of the National Technical Advisory Group on Immunization in India, said in an interview with Bloomberg Television on Tuesday. “As soon as we are through with our adult population we should have sufficient vaccine to share with the rest of the world." India expects that six locally-developed shots will have been approved by the end of 2021, Arora said.

24 Aug 2021, 12:22:09 PM IST

HDFC Bank, Bajaj FInserv drive Sensex gains

Index contribution
View Full Image
Index contribution
24 Aug 2021, 12:13:30 PM IST

Asian Granito India gains

The company's stock was trading at 162.70 each, up 6.93% at 12:13 pm. The company's board has approved a proposal for rights issue.

24 Aug 2021, 12:11:02 PM IST

Samsung to invest $206 bn by 2023 for post-pandemic growth

Samsung Group will invest 240 trillion won ($206 billion) in the next three years to expand its footprint in biopharmaceuticals, artificial intelligence, semiconductors and robotics in the post-pandemic era, Samsung Electronics Co Ltd said. The jewel of South Korea's biggest conglomerate on Tuesday said the investment through 2023 will help strengthen the group's global standing in key industries such as chip-making, while allowing it to seek growth opportunities in new areas such as robotics and next-generation telecommunications.

24 Aug 2021, 11:43:27 AM IST

Bajaj Finserv gets SEBI approval for mutual fund business

Financial services company Bajaj Finserv on Tuesday announced that the Indian market regulator Securities and Exchange Board of India (SEBI) has given its in-principal nod to the company for sponsoring a Mutual Fund. The company would also be setting an Asset Management Company (AMC). (Read more)

24 Aug 2021, 11:26:50 AM IST

NTPC gains

NTPC's stock was trading at 114.45 each, up 0.97%. The company has set September 10 as the record date for payment of dividend

24 Aug 2021, 11:24:15 AM IST

Phoenix, Indiabulls Real Estate lead gains

Nifty realty
View Full Image
Nifty realty
24 Aug 2021, 11:03:48 AM IST

Ixigo’s IPO will turn MakeMyTrip into a key rival

Online travel company ixigo was born in 2007 as a meta-search site for flights. So, its algorithm would trawl websites selling tickets for a search query—say, Delhi-Mumbai flight—and direct users to options like MakeMyTrip (MMT). In 2011, drawn by synergies in that user journey, MMT invested $4.8 million in ixigo. Except in 2019, ixigo started selling its own tickets. Earlier this year, it facilitated a bumper 8X exit for MMT. Now, if it completes its 1,600 crore public issue, ixigo’s next set of plans with the largest cash chest it has ever had could see it square up against its former shareholder. (Read more)

24 Aug 2021, 10:45:15 AM IST

Rupee rises 9 paise to 74.13 against US dollar in early trade

24 Aug 2021, 10:34:56 AM IST

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

“The index is once again struggling around the 16,600 level. It seems nervous and hence is retracing every time it gets closer to this zone. If we are successful in crossing it, we should head to 16,800-16,850. We have a good support at 16,400 and as long as that holds, the overall momentum is strong and bullish. Traders should utilize these days to accumulate long positions for higher targets."


24 Aug 2021, 10:34:56 AM IST

Chemplast Sanmar makes tepid debut

Chemplast Sanmar Ltd, which is backed by Canadian billionaire Prem Watsa, opened at 3% discount on Tuesday after its initial public offering subscribed 2.17 times last week. The stock opened at 525 on BSE and touched a high and a low of 550 and 525 respectively. At 10.05 am, the scrip was trading at 537.85, down 0.6% from its issue price of 541.

24 Aug 2021, 10:20:43 AM IST

Aptus Value Housing Finance lists at 6% discount over issue price

Shares of Aptus Value Housing Finance made a tepid stock markets listing on Tuesday. The stock was listed at 333, a 5.6% discount over its issue price of 353 a piece. The 2,780.05 crore initial public offering (IPO) was subscribed 17.20 times in the price band of 346-Rs353. Ahead of the issue, ICICI Securities said that the issue is available at a price to book value of 7.0 times on FY21 at higher end of the price band of 353/share

24 Aug 2021, 10:04:17 AM IST

Nalco, Welspun Corp lead gains

NIfty metals index
View Full Image
NIfty metals index
24 Aug 2021, 09:49:21 AM IST

AU Bank, IDFC First lead gains

Nifty Bank indices
View Full Image
Nifty Bank indices
24 Aug 2021, 09:37:31 AM IST

FMCG in red

Nifty sectoral indices
View Full Image
Nifty sectoral indices
24 Aug 2021, 09:30:25 AM IST

Zomato trades lower

Zomato's stock was trading at 123.15, down 3.03% at 9:28 am. The stock remains subdued after anchor investor lock in ended on Monday.

24 Aug 2021, 09:27:57 AM IST

Infosys' mcap crosses $100 bn mark; fourth firm to achieve this milestone

24 Aug 2021, 09:17:44 AM IST

Market opening

The Sensex opened at 55,702.52, up 146.73 points, or 0.26%, while Nifty was at 16,561.40, up 64.95 points or 0.39%. Commodity stocks lead gains.

Sensex at open
View Full Image
Sensex at open
24 Aug 2021, 09:09:41 AM IST

Market pre-opening

At market pre-opening, the Sensex was at 55,647.11, up 91.32 points, or 0.16%, while Nifty was at 16,496.45, up 45.95 points, or 0.28%. Metal stocks in green.

Sensex at pre opening
View Full Image
Sensex at pre opening
24 Aug 2021, 09:01:18 AM IST

SBI expects Q1FY22 GDP to grow around 18.5% with upward bias, GVA estimated to be 15%

24 Aug 2021, 08:46:32 AM IST

Petrol, diesel prices reduced again. Check latest rates

Petrol, diesel prices were reduced across the country on Tuesday a day after the pause, according to a price notification by state-run oil companies. Petrol price was cut by 11 to 15 paise per litre, while diesel prices also decreased by 14 to 16 paise on the day. This is the second cut in petrol prices in the last three days. (Read more)

24 Aug 2021, 08:33:16 AM IST

Pre opening commentary: Gaurav Udani, founder & CEO, ThincRedBlu Securities

"Nifty is expected to open around 16,590 up by 100 points. 16,600 to 16,620 will act as a resistance zone for Nifty while 16,480 to 16,450 will act as a support zone. Fresh buying in Nifty should be initiated only on daily close above 16,550 with higher than average volumes."

24 Aug 2021, 08:24:45 AM IST

Stocks to Watch

Dhanlaxmi Bank, Eicher Motors, Hindalco, Maruti Suzuki, Vedanta among other stocks may be in the news today. (Read more)

24 Aug 2021, 08:17:46 AM IST

Market outlook

Markets are likely to be steady on Tuesday while trends in SGX Nifty suggest a positive opening of Indian benchmark indices. On Monday, the BSE Sensex ended at 55,555.79, up 226.47 points or 0.41%. The Nifty closed at 16,496.45, up 45.95 points or 0.28%. (Read more)

24 Aug 2021, 08:03:35 AM IST

Cryptocurrency prices today: Bitcoin trades below $50,000, ether gains, dogecoin dips

Bitcoin prices today were trading below $50,000 after rising back above the crucial level on Monday for the first time since mid-May as the world's most popular virtual unit jumped to $50,495 in the last 24 hours as crypto prices continued an ongoing recovery from a disorderly rout just three months ago. (Read more)

24 Aug 2021, 07:56:30 AM IST

Govt to raise ₹6 tn by leasing infra assets

The government will raise 88,000 crore this year by leasing infrastructure assets of central government ministries and state-run companies under a 6 trillion National Monetization Pipeline (NMP) it unveiled on Monday. The funds will then be used to build new infrastructure assets, helping boost economic growth in Asia’s third-largest economy. (Read more)

24 Aug 2021, 07:45:40 AM IST

Asian markets open higher

Asian stocks rose Tuesday after a boost to the U.S. vaccination drive allayed some concerns over the delta strain’s economic impact, lifting Wall Street. The dollar held a drop and oil steadied after surging. MSCI Inc.’s Asia-Pacific share gauge climbed for a second day, aided by jumps in Japan as well as Chinese technology stocks, with South Korea also advancing. Equities in China overall posted a modest gain after the central bank in a statement called for more credit support for the real economy. U.S. futures nudged higher after American equities extended a rebound on full approval for the Pfizer Inc.-BioNTech SE shot, which raises the prospect of more vaccine mandates to underpin economic reopening. 

S&P 500 contracts rose 0.2% as of 10:54 a.m. in Tokyo. The S&P 500 rose 0.9%

Nasdaq 100 futures climbed 0.2%. The Nasdaq 100 rose 1.5%

Topix index gained 1.2%

Australia’s S&P/ASX 200 Index added 0.3%

Kospi index climbed 1.5%

Hang Seng Index gained 2%

Shanghai Composite Index rose 0.7%

SGX Nifty was up 0.26%

24 Aug 2021, 07:33:26 AM IST

US indices close higher

Global equity markets rose while the U.S. dollar dipped on Monday as investors grew less concerned that the Federal Reserve would soon begin changing its accommodative monetary stance.Market sentiment was buoyed after the U.S. Food and Drug Administration granted full approval to the Pfizer Inc/BioNTech SE COVID-19 vaccine. New cases, driven by the highly infectious Delta variant, have surged in parts of the United States with lower vaccination levels. 

On Wall Street, the Dow Jones Industrial Average rose 0.61%, to 35,335.71, the S&P 500 gained 0.85%, to 4,479.53 and the Nasdaq Composite added 1.55%, to 14,942.65.


Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
My ReadsRedeem a Gift CardLogout