Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 57,338.21, down 214.18 points (0.37 per cent), while the Nifty 50 settled at 17,076.25, down 55.95 points (0.33 per cent).
Share/Stock Market Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended over 0.3 per cent lower on Wednesday weighed by metals and information technology (IT) stocks.
The S&P BSE Sensex slipped 214.18 points (0.37 per cent) to end at 57,338.21. Earlier in the day, the BSE benchmark had surged 366.32 points (0.64 per cent) to hit a fresh record intraday high of 57,918.71.
Likewise, the Nifty 50 fell 55.95 points (0.33 per cent) to settle at 17,076.25. During the intraday trade, the NSE barometer had risen 93.55 points (0.55 per cent) to breach the 17,200 level mark and hit new all-time high of 17,225.75.
Mahindra & Mahindra (M&M), Tata Steel, Bajaj Finserv, Housing Development Finance Corporation (HDFC), Tata Consultancy Services (TCS) and Infosys were among the top losers on Wednesday’s trade while Asian paints, Nestle India, Axis Bank, Dr. Reddy’s Laboratories, Titan Company and Larsen & Toubro (L&T) were the top gainers.
Among the sectoral indices on NSE, the Nifty Metal index fell 1.79 per cent dragged by Tata Steel, Welspun Corp and National Aluminium Company. The Nifty IT index slipped 1.33 per cent weighed by MphasiS, TCS and Infy.
However, the broader market indices on the BSE outperformed their benchmark peer, the S&P BSE MidCap ended at 24,072.58, up 219.15 points (0.92 per cent) while the S&P BSE SmallCap settled at 26,979.89, up 59.95 points (0.22 per cent).
(with inputs from agencies)
Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:
“Despite a strong opening due to favourable GDP data, domestic indices failed to hold onto its early gains due to profit booking strategy from the recent rally. India’s GDP rose due to the low base effect and was powered by private consumption expenditure & investment. The auto sector showed a flattish trend as sales for August saw a decline following supply constraints.”
Rupee slips 8 paise to close at 73.08 (provisional) against US dollar.
The S&P BSE Sensex ended at 57,338.21, down 214.18 points or 0.37 per cent, while the Nifty 50 settled at 17,076.25, down 55.95 points or 0.33 per cent.
The initial public offering (IPO) of specialty chemicals manufacturer Ami Organics opened for subscription on Wednesday, September 1, 2021, at a price band of Rs 603-610 per share. The offer will be available till Friday, September 3, 2021.
Through the offer, Ami Organics aims to raise nearly Rs 570 crore with the help of a fresh issue of equity shares worth Rs 200 crore and an offer for sale of up to 60,59,600 equity shares by existing shareholders. The company has reduced its fresh issue size to Rs 200 crore from Rs 300 crore after raising Rs 100 crore in a pre-IPO placement. Click here to read the full report
Prices of the non-subsidised liquefied petroleum gas (LPG) cylinders have been raised by Rs 25 by India’s key oil marketing companies (OMCs) today, news agency ANI reported.
With this, the price of a non-subsidised 14.2 kg LPG cylinder will now cost Rs 884.50 in Delhi, the report said. Click here to read the complete report
Farm machinery and construction equipment major Escorts on Wednesday reported 21.7 per cent decline in total tractor sales at 5,693 units in August 2021.
The company had sold a total of 7,268 units in the same month last year, Escorts said in a regulatory filing.
Domestic tractor sales were down 27.1 per cent at 4,920 units as against 6,750 units in August 2020, it added. Click here to read the full report
Bajaj Auto on Wednesday reported a 5 per cent increase in total sales at 3,73,270 units in August 2021.
The company had sold a total of 3,56,199 units in the same month last year.
Domestic sales were, however, down 7 per cent at 1,72,595 units as compared to 1,85,879 units in August last year, the company said in a statement. Click here to read the complete report
” The almost incredible market rally continues lifting the Sensex and Nifty above the 57000 and 17000 marks respectively. What stands out in the recent rally of above 400 points on the Nifty is the outperformance of high quality stocks. It is important to appreciate the fact that the eight stocks – RIL, HDFC Bank, HDFC, Infosys, ICICI Bank, TCS, Bajaj Finance and Bharti Airtel- which have been doing well recently account for 50.7 percent weight in the Nifty. Therefore spike in these stocks can lift the Nifty disproportionately. The underperformance of the mid- and small-caps, particularly the removal of the froth in the segment, is desirable even when the market is racing to lofty valuations.
FPIs resuming buying ( Rs 3881 cr yesterday) is indicative of the lack of clarity even in smart money. They have been selling in the cash market for most of July and August on fears of high valuation but have been forced to come back on fears of losing the momentum in the market.
Q1 GDP growth rate at 20.1 percent is on expected lines. The impressive pick up capital formation at 55.3 percent augurs well for growth for the rest of the year.”
The IPOs of Ami Organics and Vijaya Diagnostic Centre are available for subscription starting today. Both the issues will be available till Friday, September 3, 2021.
Ami Organics IPO
Price band: Rs 603-610 per share
Face value: Rs 10
Lot size: 24 equity shares and in multiples thereof
Vijaya Diagnostic Centre IPO
Price band: Rs 522-531 per share
Face value: Re 1
Lot size: 28 equity shares and in multiples thereof
Asian shares gave up some of their recent gains in cautious trading on Wednesday while the dollar inched back from three-week lows, as worries about slowing global growth in several markets returned to weigh on traders’ minds.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.40%, edging off a three-week high reached the day before.
Australian shares fell 0.58%, paring earlier losses slightly, after figures showed gross domestic product (GDP) grew 0.7% in the June quarter.
Japan’s Nikkei however gained 0.89%, boosted by data showing that Japanese companies’ capital spending rose in the second quarter, the first such increase since the pandemic began.
Sensex surged 230.95 points (0.40 per cent) to a fresh record high of 57,783.34, while the Nifty rose 62.15 points (0.36 per cent) to a new all-time high of 17,194.35.
On Tuesday, the benchmark equity indices on the BSE and National Stock Exchange (NSE) had surged over 1 per cent to settle at their fresh record highs led by gains in metals, information technology (IT) and pharmaceutical stocks.
The S&P BSE Sensex jumped 662.63 points (1.16 per cent) to end at a fresh record closing high of 57,552.39. During the day, the BSE benchmark had breched the 57,000 level mark for the first time ever and rallied to an intraday lifetime high of 57,625.26.
Likewise, the Nifty 50 climbed 201.15 points (1.19 per cent) to end at an all-time high of 17,132.20. The NSE barometer had earlier breached the 17,000-mark for the first time ever to touch a record high of 17,153.50.
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