Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading flat on Tuesday, on the back of positive global cues. BSE Sensex was hovering around 52,850, while the Nifty 50 gave up 15,850. Tata Steel, Titan Company, ICICI Bank, IndusInd Bank, Bajaj Finance, Power Grid Corporation of India, HDFC Bank, SBI were among top Sensex gainers. HCL Technologies, Axis Bank, Housing Development Finance Corporation (HDFC), Nestle India top index laggards. All the Nifty sectoral indices were trading in the green, led by Nifty Metal index. Bank Nifty was ruling half a per cent higher, and Nifty FMCG index gained 0.14 per cent.
Glenmark Life Sciences’ Rs 1,514 crore initial public offering (IPO)has opened for subscription on Tuesday, July 27. The issue consists of a fresh issue of equity shares worth Rs 1,060 crore and an offer for sale by existing shareholders worth R 453 crore. Investors can bid for Glenmark Life Sciences IPO at the fixed price band of Rs 695 – 720 per share in a bid lot of 20 shares.
New age internet shares such as Zomato and Info Edge (naukri.com) may not make it to the benchmark NSE Nifty 50 index in the impending review next month, despite having a high market capitalization. However, Info Edge is the best possible contender for a spot in Nifty 50 in future reshuffles, ICICI Direct said in a report. Zomato too has a bright chance of making it to Nifty 50 in the future. “New large-cap internet platform companies like Zomato with high free-float market cap due to zero promoter holdings could be serious contenders for entry into the benchmark indices going ahead,” the report said.
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Shares of Equitas Holdings Ltd (EHL) and Equitas Small Finance Bank (ESFB) on Tuesday jumped up to 10 per cent as the board of directors and shareholders of the two companies approved their amalgamation scheme. Equitas Holdings rallied 9.92 per cent to Rs 136.80 on BSE. The stock of Equitas Small Finance Bank also gained 8.78 per cent to Rs 68.70.
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Considering the FY-21 adjusted EPS of Rs.31.93 on a post-issue basis, the company is going to list at a P/E of 28.19 with a market cap of Rs.24,510 mn, while its peers namely Ramkrishna Forgings and MM Forgings are trading at a P/E of 123.30 and 37.14 respectively. We assign a “Subscribe (With Caution)” rating to this IPO as the company is one of the leading forging manufacturers with a geographically diversified revenue base and is available at reasonable valuation as compared to its peers. However, the client concentration risk and CDR debt restructuring in the past keeps us cautious at the same time from a longer-term perspective. Marwadi Shares and Finance
Indian Express published a News Article in various editions of its newspaper and its’ website with headline ‘Amazon India is shopping: Inox, others on wishlist’. The company said that there are no discussions taking place between ‘INOX Leisure Limited’ and ‘Amazon’, nor were there any such discussions in the past. BSE filing
Given the tailwinds in the whole Indian API sector due to increased demands from global pharmaceutical innovators & generic companies going for a China+ 1 multisourcing strategy, this industry is on the path to growing more than double digits for years to come. We believe Glenmark Life sciences IPO which is currently valued at 4.6x EV/sales, 15x EV/ EBITDA & 25x Price/ Earnings & following the lucrative strategy to become bigger in complex APIs, is rather reasonably valued. The IPO is worth thinking about if you are a long-term investor. Aditya Kondawar, Founder, COO, JST Investments
The local currency- Rupee has been into the consolidation phase of 74.30-75.00 zone. Moving ahead, it would be interesting to watch whether RBI again take charge and intervene heavily at current levels or allow it to appreciate towards 74.00-74.10 levels. The chances of reversal from the current levels are high as the resurgence of COVID cases in Asia, higher inflationary pressure, and importer’s rush to cover dollar exposure ahead of Fed and RBI meeting could take the pair again towards 74.90-75.00 levels. Amit Pabari, managing director, CR Forex Advisors
Zomato share price jumped nearly 5 per cent today, rising to a fresh record high of Rs 147.80 apiece intraday on NSE. The online food delivery platform stock price is now 95 per cent up from its IPO price of Rs 76 per share. From the current levels, Zomato share price is likely to rally 12 per cent more, Swiss brokerage UBS Securities said in a report. UBS Securities has initiated a ‘buy’ rating to the stock with a 12-month target price of Rs 165 per share.
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The Nifty continues to be spiritless in its momentum; the range-bound movement still persists! Until we do not get past 15900 on the upside or break 15400 on the downside, we will be far from witnessing a definite trend. While the propensity remains on the upside, the test of patience is challenging. A buy on dips can be looked at as a possible trading strategy. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading lower in India on Tuesday, as global rates remained steady ahead of US Federal Reserve meeting. On Multi Commodity Exchange, gold August futures were trading Rs 11 down at Rs 47,450 per 10 gram, as against the previous close of Rs 47,461. Silver September futures were ruling Rs 102 down at Rs 67,019 per kg. In the previous session, silver futures ended trade at Rs 67,121 per kg.
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All the Nifty sectoral indices were trading in the green, led by the Nifty Metal index. Bank Nifty was ruling half a per cent higher, and Nifty FMCG index gained 0.14 per cent
HCL Technologies, Axis Bank, Housing Development Finance Corporation (HDFC), Nestle India top index laggards
Tata Steel, Titan Company, ICICI Bank, IndusInd Bank, Bajaj Finance, Power Grid Corporation of India, HDFC Bank, SBI were among top Sensex gainers
The 15600 – 15900 Nifty range may hold for some more time since FIIs have again turned aggressive sellers (Rs 2377 cr in cash market yesterday) at around 15900 levels. Even though DIIs are consistently buying (Rs 1551cr yesterday), they are being overwhelmed by FII selling which has touched Rs 14755 cr in July so far. Nifty is unlikely to decisively break above 15900 until FII selling weakens substantially. Since money is continuously flowing into domestic equity mutual funds, the fund managers don’t have any option but to buy even if valuations are high. The mid-small-cap segment is witnessing high volatility in response to results since the institutional activity is low in this segment. The newbie retail investors are now focused on this segment. But this segment can correct hugely when the market turns bearish and, therefore, investors have to be cautious. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
BSE Sensex jumped 150 points, reclaiming 53,000-mark, while Nifty 50 index was ruling near 15,900-mark at 15,881.55 on Tuesday
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel have once again been left unchanged at record highs by oil marketing companies. Today, petrol in the national capital costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4 and nine times this month, sitting at all-time highs. The price of petrol in Delhi has increased by Rs 11.15, while diesel price has surged Rs 10.80 per litre since the rates started increasing more than 2 months back. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
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BSE Sensex jumped 250 points, reclaiming the 53,000-mark, while the Nifty 50 index was ruling above 15,850 in pre-opening session on Tuesday.
Check live levels: Sensex | Nifty
Jeff Bezos is looking to diversify Amazon India’s entertainment business with eyes on acquiring multiple film and media distribution players, including Mumbai-based movie theatre chain Inox Leisure, The Indian Express reported. With pandemic hitting businesses such as multiplex chains hard with repeated lockdowns and social distancing norms, Amazon India is looking to pick up a stake in some businesses helped by deep pockets of the world’s richest person. The Indian Express report said that Inox Leisure is one of the several candidates that Amazon is looking at for its diversification exercise.
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Domestic markets look to be modestly good as of now. Notably, 1QFY22 corporate earnings have been strong so far and commentary of most managements also have been encouraging. However, asset quality worry for banks and NBFCs post 1QFY22 earnings cards of HDFC Banks and ICICI Banks weighted in index heavyweight financials. However, asset quality of banks is likely to improve with the reopening of complete economy and faster job creation. While concerns over global growth due to recent rise in delta variant Coronavirus cases in different parts of the world continues to persist, we believe that underlying strength of domestic market remains intact and any meaningful correction in the market should be taken as an opportunity to buy. Binod Modi, Head Strategy at Reliance Securities
Nifty is expected to open around 15850, up by 30 points. In the last few days, Nifty has been trading in a tight range and the range is expected to be broken soon. 15880 is strong resistance on a closing basis and 15700 and 15580 are strong support points. Fresh longs are suggested only once Nifty closes above 16000 levels. Profit booking is suggested if Nifty breaks 15580 on a closing basis. Gaurav Udani, CEO & Founder, ThincRedBlu Securities
Markets will track global cues for further market direction while lot of stock specific action will be seen given the earnings season in progress. Overall, the result season so far has been healthy and is providing g support to the market which has shown strong resilience even though it faces headwinds from the advent of a possible third COVID wave and persistent inflation readings prompting a potential rate increase. Positive macro data points both on global and domestic front is giving confidence to the investors of faster economic recovery. While declines are being bought into, follow up is missing at higher levels. Bulls would need a lot of strength to take the market to newer highs above 16,000 mark. Further, markets are likely to remain volatile this week ahead of monthly expiry. Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
For Tuesday at Nifty 15800 will act as an immediate support followed by 15730 and 15700 levels on the downside & have immediate resistance at 15885 followed by 15960 & 16050 as third resistance. For Bank Nifty 34800 will act as a first support to the index followed by 34500 & 34200, resistance is placed at 35150 – 35350-35600. All the eyes of investors and traders are focused on the earning season so stock specific approach will the best strategy to follow at the current market situation, Sectors which will remain in focus will be from Banking, Cement, Metal, Realty & IT space. Rahul Sharma, Co- Founder, Equity99
“The Nifty IV’s remained muted which is still pointing towards lack of direction. Hence index back to its consolidation range of 15600 to 15950 again. Rollover activity picks up pace, we may see stock specific movement.
On the options front, the near options activity is concentrated at ATM strikes of 15800 for both Call and Put. While the highest Call base is placed at 16000 strike, Put base is highest at 15800 strike. So prima facie, a move below 15770 should be considered negative for Nifty below, moving towards 15700-15600. On the higher side, above 15980-16000(a psychological resistance) may trigger short covering momentum which may take Nifty towards 16100-16200 levels,” said Raushan Kumar, Derivative Analyst, IIFL Securities.
BSE-listed companies such as Dr Reddy’s Laboratories, InterGlobe Aviation, Canara Bank, Aarti Drugs, IndusInd Bank, Ansal Housing, Arihant Capital Markets, Bhageria Industries, BLS International Services, Confidence Petroleum India, Dalmia Bharat, Dixon Technologies, EIH Associated Hotels, Elantas Beck India, Filatex India, GM Breweries, Godawari Power & Ispat, Granules India, Greenlam Industries, Hindustan Fluorocarbons, IIFL Finance, Karnataka Bank, Lux Industries, Mahindra Logistics, Ramco Cements, Sanofi India, Sharda Cropchem, Shemaroo Entertainment, Snowman Logistics, Torrent Pharmaceuticals, TTK Prestige, UCO Bank and VST Industries will annouce Apr-Jun qiarter earnings on July 27.
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Domestic equity markets closed in red on Monday, starting the weak on a negative note amid mixed global cues. S&P BSE Sensex was slipped 123 points to closed at 52,852 while the 50-stock NSE Nifty ended at 15,824, down 31.6 points. Broader markets closed mixed with smallcap indices outperforming peers and closing in the green. Entering the second day of trade, SGX Nifty was up 45 points, hinting at some positive build-up ahead of the opening bell. Cues from global peers were largely positive after Wall Street equity indices closed with gains and Asian stock markets followed suit.
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On Monday, foreign institutional investors (FIIs) net sold shares worth Rs 2,376.79 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,551.27 crore in the Indian stock market.
Finance minister Nirmala Sitharaman said on Monday the government doesn’t intend to go for direct monetisation of its fiscal deficit by the central bank in light of the unprecedented Covid-19 outbreak. Responding to a question in the Lok Sabha on “whether there is any plan to print currency to tide over the crisis”, the minister replied in the negative.
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In overnight trade on Wall Street, US stock indexes posted record closing highs for a second straight session. The Dow Jones Industrial Average rose 0.24 per cent, the S&P 500 gained 0.24 per cent, and the Nasdaq Composite added 0.03 per cent.
Asian stocks were trading mostly higher in early trade on Tuesday. The Nikkei 225 in Japan gained 0.6 per cent while the Topix index was up 0.6 per cent. South Korea’s Kospi gained 0.8 per cent. In Australia, the S&P/ASX 200 jumped 0.4 per cent.
Glenmark Life Sciences’ shares were trading at a 20% premium ahead of the IPO in the unlisted space. A subsidiary of Glenmark Pharmaceuticals, Glenmark Life Sciences is a developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients. Glenmark Life Sciences’ public issue will be the fifth IPO to enter Dalal Street so far this month. The stock is likely to list on the bourses next month. Investors can bid for Glenmark Life Sciences IPO at the fixed price band of Rs 695 – 720 per share in a bid lot of 20 shares. This translated to a minimum investment of Rs 14,400 on the higher end of the price band.
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