MARKET WRAP: Indices rally for 5th straight day, Sensex ends 187 pts higher

All that happened in the markets today

4:05 PM

MARKET COMMENT:: Vinod Nair, Head of Research at Geojit Financial Services

Benchmark indices were volatile in trading today, after swinging from losses to end the day flat, with a positive bias. This was in spite of negative global cues, due to renewed uncertainty regarding economic recovery and delay in a complete opening up of economies from lockdowns. These uncertainties regarding the sustainability of the market rally were visible in the Indian markets also but were offset by gains in IT and Financials Index. Any impact seen on momentum, which has been driving the market along with liquidity, can lead to nervousness in the markets, and investors are advised to watch out for the same.

3:43 PM

SECTOR WATCH:: Nifty Metal cracks over 1.7%

3:42 PM

MARKET AT COSE:: Gainers and losers on the S&P BSE Sensex

3:36 PM

CLOSING BELL

The S&P BSE Sensex gained 187 points or 0.51 per cent to settle at 36,674.52 levels while NSE's Nifty ended at 10,799.65, up 36 points or 0.33 per cent. 

3:28 PM

MARKET CHECK

3:17 PM

MARKET CHECK:: NTPC slips over 3%

3:12 PM

ED files charges against GVK group, promoters for Mumbai airport 'scam'

An officer said an Enforcement Case Information Report (ECIR), which is equivalent to police first information report, has been filed under Section 3 of Prevention of Money Laundering Act (PMLA). The section deals with concealment of proceeds of crime where the accused shall be guilty of money laundering. READ MORE

3:01 PM

Financials in focus; Bajaj Finance, M&M Financial, Bandhan Bank up over 5%

Shares of financial firms, mainly non-banking financial companies (NBFC) were in focus on Tuesday. The stocks rallied up to 20 per cent on the BSE after Bajaj Finance said its assets under management (AUM) under moratorium declined from 27 per cent, at the end of April 2020, to about 15.5 per cent at the end of June 2020. Bandhan Bank has reported healthy loan and deposit growth in the April-June quarter on a yearly basis despite nationwide Covid-19-induced lockdown. READ MORE

2:55 PM

MARKET UPDATE :: Metal stocks drag; Nifty Metal index down nearly 2%

2:52 PM

BUZZING STOCK:: Bajaj Finance extends gains, rises as much as 10% intraday

2:49 PM

Franklin MF in talks with bond issuers to list unlisted debt on bourses

Last month, the Securities and Exchange Board of India (Sebi) gave a three-month window to unlisted bond issuers to get their securities listed.

 

The fund house is also working on getting the schemes under wind-up listed on exchanges, as required by Sebi’s new norms, so that investors with urgent need of liquidity can use this facility. READ MORE

2:41 PM

Further re-rating of M&M depends on UV, capital allocation outcome

The Mahindra & Mahindra stock has gained 46 per cent since mid-May, outperforming the BSE Auto Index which was up 32 per cent during the same period. The outperformance was due to expectations of higher growth for tractors, better-than-expected operating performance in the March quarter and improving capital allocation policies. READ MORE

2:31 PM

Maruti Suzuki India partners with Axis Bank for easy vehicle financing

Under the partnership, Axis Bank will offer a variety of options to customers, including 100 per cent on-road funding for salaried customers for eight years, step-up EMI scheme starting at Rs 1,250 per lakh and balloon EMI scheme with final EMI being 25 per cent of loan amount, the company said in a statement. READ MORE 

2:21 PM

Reliance, Sterlite, TechM set to power next-gen 5G telecom networks

Three Indian giants — Anil Agarwal-run Sterlite Technologies, Reliance Industries-controlled Radisys, and Tech Mahindra — are developing software, manufacturing, and systems integration capabilities to power the building of the next-generation of ‘virtualised’ 5G telecom networks. The move entails moving from the current hardware-dependent networks to ones that will be software-centric with hardly any dependency on the underlying hardware. READ MORE

2:18 PM

MARKET CHECK:: Bajaj Finance extends gains, up 7%