(image: Reuters)Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices began Tuesday’s trading session with gains. S&P BSE Sensex was above 51,500 reaching fresh all-time highs. Nifty 50 was just shy of 15,200. Among top gainers on Sensex were Infosys, ONGC, and IndusInd Bank. On the other hand, State Bank of India, Kotak Mahindra Bank, and Mahindra & Mahindra were the top drags. Future Retail surged nearly 10% after Delhi HC’s allowed Future Group to proceed with the RIL deal. India VIX was inching higher. In what can be seen as a breather for Kishore Biyani’s Future Group, a division bench of The Delhi High Court stayed the order passed by a single judge earlier this month. The earlier order had directed Future Group to maintain the status quo till further order in the Reliance Retail and Future Group deal. The move will help Future Group go ahead with the transaction and seek necessary approvals. The deal between Kishore Biyani and Mukesh Ambani will now look for approval from the NCLT. Hearings in the matter by the division bench would now commence from February 26.
Commodity prices traded mixed during the week passed by with bullion prices continued downside falling for the second week while crude oil and base metals ended in green on-demand growth optimisms.
Read full story
“This is a surprise that is also not a surprise at all. Elon Musk has been talking about Bitcoin for a long time. The number of users on ZebPay did more than double right after the news. It’s a sign to other companies that bitcoin is a solid reserve asset for any balance sheet. We hope central banks will join in and that this news helps nudge the government to buy, not ban bitcoin and let every Indian do the same. Now if tomorrow Tesla also buys a billion dollars of dogecoin, that will be a surprise,” Rahul Pagidipati, CEO, ZebPay.
This is a surprise that is also not a surprise at all. Elon Musk has been talking about bitcoin for a long time. The number of users on ZebPay did more than double right after the news. It’s a sign to other companies that bitcoin is a solid reserve asset for any balance sheet. We hope central banks will join in and that this news helps nudge the government to buy, not ban bitcoin and let every Indian do the same. Now if tomorrow Tesla also buys a billion dollars of dogecoin, that will be a surprise: Rahul Pagidipati, CEO, ZebPay
Nureca Ltd’s initial public offer (IPO) is set to open for subscription next week on February 15, 2021, after it received capital market regulator Sebi’s go-ahead to raise Rs 100 crore through public issue. Nureca Ltd will be sold in the price band of Rs 396-400 apiece of face value of Rs 10 each and will close on February 17, 2021. According to the Red Herring Prospectus, the equity shares of Nureca are proposed to be listed on BSE and NSE.
Read full story
“The markets have continued their northward trajectory this morning and we are very close to the 15200 targets. While a pause at these levels cannot be ruled out, the overall trend for the Nifty remains positive and we should target 15500 as the next level of resistance. A buy on dips is a prudent strategy to adopt in the current market scenario,” said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
The markets have continued their northward trajectory this morning and we are very close to the 15200 target. While a pause at these levels cannot be ruled out, the overall trend for the Nifty remains positive and we should target 15500 as the next level of resistance. A buy on dips is a prudent strategy to adopt in the current market scenario.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Tracking the global cues, domestic markets are also on their march towards the North Pole touching fresh highs and FII’s have been pouring money into the equities with the optimism surrounding the faster economic recovery led by vaccine rollouts, despite deficits under strain. However, the optimism hasn’t been able to translate in the USDINR pair which has remained well supported around 72.80 levels so far amid spot and forward intervention by RBI to curb volatility. Seems like USDINR pair has formed a near term base around 72.80 levels, which if taken out due to RBI’s leniency, the pair can shift the pair towards 72.50 levels as the overall biasness is on the appreciation side. Overall, as the near term range for pair remains between 72.80-73.50 levels, buyers can look to hedge near 72.80-73.00 and one can look to sell above 73.20-73.40 levels in the near term.: Amit Pabari, managing director, CR Forex Advisors
Promoters’ pledged shareholding in BSE 500 companies increased to 2.09% at the end of fiscal third quarter, from 2.03% in the previous quarter. “Promoters of 84 companies in the BSE-500 Index had pledged all or part of their holdings in the December 2020 quarter,” a report by domestic research and brokerage firm Kotak Securities said. With the increase, the total value of promoter pledged holdings was recorded at Rs 1.8 lakh crore. However, it is important to note that higher promoter pledges do not necessarily indicate that promoters are under financial stress.
Read full story
Sensex began the day’s trade above 51,500 for the first time ever. Nifty 50 was just shy of the 15,200 mark. India VIX was seen gaining 0.55%.
Sensex was back in green, surging more than 100 points. Nifty too was in the positive territory.
Nifty AUTO, METALS and INFRA indices helped the market to close higher. From the basket of defensive sectors, we saw solid gains for the IT index. FMCG and PSU Banks marginally closed in the negative territory.
Read full story
Minutes into the opening session, Sensex was trading flat with a negative bias while Nifty was still in green.
Sensex and Nifty began the pre-open session on Tuesday with gains. Nifty was above 15,200 while Sensex zoomed past 51,500.
Among companies reporting their quarterly earnings today will be, Adani Ports, Tata Steel, Burger King, Abbot India, AkzoNobel, Aster DM, BASF India, Berger Paints, Future Retail, Lemon Tree, J&K Bank, Central Bank, Torrent Power, TCI Express, etc.
Domestic equity market benchmarks BSE Sensex and Nifty 50 have been rallying for six consecutive sessions now, driven by Union Budget optimism. Indian share markets are likely to open flat to positive in Tuesday’s session. S&P BSE Sensex reached a fresh all-time high on Monday and closed above the 51,300-mark for the first time ever. While the broader 50-stock NSE Nifty too claimed fresh highs and closed above 15,100. The broad-based rally was supported by positive global cues, progress in US fiscal stimulus talks and continued buying by foreign portfolio investors (FPIs).
Read full story
Rating agency Icra expects the uptick in securitisation volumes to continue in the coming quarters. It witnessed 61% sequential growth during the December quarter (Q3FY21). Ever since the sharp fall in domestic volumes in Q1FY21, the securitisation market has been on a path of revival on a sequential basis, the credit rating agency said. The number of originators that undertook securitisation has also improved to 50 in Q3 FY2021 as against 45 and 18 in Q2 and Q1 FY21, respectively.
Read full story
“Brent surged though $60/barrel like a hot knife through butter – continuing the positive momentum from last week. Progress on US stimulus and optimism around the rollout and effect of vaccines across the remainder of 2021 and a slightly weaker US dollar helps the view albeit there was mixed news on the impact of the current vaccines formulated on the emerging South African variant,” said Stephen Innes, Chief Global Market Strategist at Axi.
A total of 219 BSE-listed companies including Adani Ports, Tata Steel, Berger Paints, Muthoot Finance, Max Financial India, Indian Overseas Bank, Endurance Technologies and Torrent Power, among others, are scheduled to announce their October-December quarter earnings today.
Read full story
The industry base for FY22F/23F is ~14%/4% below FY19 levels and we expect a recovery as the economy improves, although we expect it to be slow due to ~20% price increase in the past 12 months. Near-term concerns are weak industry retail trends perhaps impacted by shift in marriage season and margin pressures due to ~300bp cost increases. Execution on market share gains in scooters/ premium and exports are key upsides to watch. We do not expect any significant contribution from the HD deal over the next three years (2.5K sales in FY20), until new products are developed.
Read full story
“Though Nifty placed at the all-time high, there is no indication of any reversal pattern forming at the highs. The market has completely negated bearish reversal pattern of previous week on the weekly chart and closed higher. As happened in the past, one may expect a formation of another reasonable bull candle in this week (weekly chart). The underlying trend of Nifty continues to be positive and one may expect further upside in the short term,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
So far, the Competition Commission (CCI) and the Securities and Exchange Board of India (Sebi) have given their approval for the deal. The deal now requires the approval of the National Company Law Tribunal (NCLT), which was effectively stalled by the single judge’s February 2 order.
The Delhi High Court’s division bench on Monday stayed the single judge’s order passed on February 2, which had directed Future Group to maintain status quo till further orders with regard to its `24,713-crore deal with Reliance Retail wherein it has sold certain retail assets to the latter.
Read full story
