MARKET WRAP: Sensex ends 139 pts higher in volatile trade; ONGC gains 5.7%

All that happened in the markets today

2:23 PM

MARKET UPDATE:: Sensex extends losses

2:12 PM

Dixon Technologies' stock has surged 37% in 2 mths; will the rally sustain?

Dixon Technologies is a key player in the nascent Indian EMS industry, which is likely to grow rapidly over the next few years. The Indian electronics and consumer durable industry is worth nearly Rs 4 trillion and is likely to grow rapidly to Rs 6 trillion by FY25E because of low current penetration levels. READ MORE

2:04 PM

Market Update: Sensex off day's high amid losses in financials

BSE barometer Sensex wiped off all gains in the afternoon session on Friday amid losses in Axis Bank and HDFC twins. The index fell over 300 points to trade below the 46,000 mark. The 30-pack index had scaled all-time high of 46,309.63 in intraday trade.

1:54 PM

Apollo Tyres hits 52-week high on heavy volumes, surges 66% in 3 months

Shares of Apollo Tyres advanced 7 per cent to hit a fresh 52-week high of Rs 194.70 on the National Stock Exchange (NSE) on Friday on the back of heavy volumes. The stock surpassed its previous high of Rs 191.80, touched on December 3, 2020. The trading volumes on the counter nearly doubled with a combined around 19 million equity shares changing hands on the NSE and BSE. In the past three months, Apollo Tyres' stock price has zoomed 67 per cent, as compared to 19 per cent rise in the Nifty50 index. READ MORE

1:46 PM

MARKET CHECK

1:45 PM

Q&A | Passive funds can make managers deliver better value: Tim Edwards, S&P Dow

When a passive option becomes available, it can put pressure on active managers to deliver better value. Furthermore, since some investors have the option to take a passive approach, money is often taken away from the least-skilled, or unluckiest, active managers who have been underperforming, and invested in an index-tracker instead. READ FULL INTERVIEW HERE

Tim Edwards, Managing Director, Index Investment Strategy, S&P Dow Jones

1:30 PM

UPL recovers a day after tumbling 11%; here's what brokerages say

A day after tumbling nearly 11 per cent on reports that a whistle-blower had alleged corporate governance lapses in the company and that its promoters had siphoned off funds, shares of UPL recovered a bit and rose as much as 4 per cent to Rs 456.40 in the intra-day deals on Friday. In a clarification on the reports, the company said that this was an old matter and was reported to the audit committee in 2017. After an independent probe, the matter was closed, it said. READ MORE

1:22 PM

Once new wage code kicks in, you may need to shed some debt weight

The government has notified the draft rules under the Code on Wages 2019. According to it, from April 2021 your wage (which includes basic pay and dearness allowance) must be at least 50 per cent of total pay for the purpose of calculation of gratuity and provident fund contributions. Experts say the new rules will enhance social security. READ MORE

1:10 PM

Market Watch: BSE Smallcap index outperforms benchmark Sensex, up 0.85%

The BSE Smallcap index was trading 0.85 per cent higher in intraday trade at around 1 pm as against a 0.62 per cent rise in benchmark Sensex. Apollo Tyre, Vakrangee, Dixon and Persistent Systems were among the top index contributors.

1:03 PM

ONGC, Oil India, Gail rally up to 10%; here is why

Shares of state-owned oil & gas companies rallied up to 10 per cent on the BSE in the intra-day trade on Friday as crude oil prices extended their northward journey. On Thursday, Brent crude price crossed $50 per barrel-mark for the first time since March on demand recovery and hopes of Covid-19 vaccine. Among individual stocks, ONGC rallied 10 per cent to Rs 101 in the intra-day trade amid reports that Morgan Stanley has upgraded the stock. Meanwhile, shares of Oil India and Gail gained 10 per cent and 7 per cent, respectively. READ MORE

 

12:53 PM

Rebound in advertising, viewership help Zee Entertainment stock recovery

The Zee Entertainment Enterprises stock has gained 14 per cent over the last two weeks on expectations of a gradual uptick in advertising growth, increase in viewership share and hopes of a recovery of dues from group companies such as Dish TV. Despite the recent recovery, the stock has been a key underperformer over the last six months, compared with the benchmark indices and the S&P BSE100 index. READ MORE

12:43 PM

Sebi to have dept to check price manipulation, misuse of IPO funds

To rein in misuse of the initial public offering (IPO) proceeds, the capital markets regulator Securities and Exchange Board of India (Sebi) is all set to have a separate specialised department, which will detect possible irregularities in the utilisation of net proceeds and even do forensic accounting of such firms. The move comes close on the heels of an extensive discussion it had with the finance ministry in November. READ MORE

12:33 PM

IRCTC OFS retail quota subscribed 29% so far

The retail quota of offer for sale (OFS) by IRCTC was subscribed 29 per cent so far. The issue received a total bids for 6,89,794 shares against the issue size of 24,00,000 shares. The OFS witnessed a good response from non-retail investors yesterday as the issue was subscribed nearly two times on day one. Yash Gupta, Equity Research Associate at Angel Broking is neutral on the issue. "There will be very limited upside left for retail investors also there is no retail discount in this OFS," Gupta said.

 

12:24 PM

ACC, Cipla: 66 stocks from Nifty 500 index are showing weakness on charts

The domestic stock market is on a record-breaking spree. On Friday, the benchmark S&P BSE Sensex hit a fresh all-time high of 46,309.63 during the intra-day deals while NSE's Nifty scaled a record peak of 13,579.35. Since their March 2020 lows, both Sensex and Nifty have jumped 80 per cent, each, NSE and BSE data show. However, amid this relentless rally, few stocks are showing weakness on their respective technical parameters. READ MORE

12:11 PM

BUZZING STOCK:: Gillette rises 6%