MARKET WRAP: Sensex pares gains to end 45 pts up; financial stocks rally
All that happened in the markets today
The Indian market ended higher on Tuesday; however, the gains were capped owing to selling in counters such as Reliance Industries (RIL), and Infosys. Further, continuous rise in Covid-19 cases, too, weighed on investor sentiment.
India has recorded 60,975 coronavirus cases in the past 24 hours, taking its total to 3,170,942. READ MORE
The S&P BSE Sensex today ended 45 points or 0.12 per cent higher at 38,844 levels, with Bajaj Finance (up over 4 per cent) being the top gainer and NTPC (down over 1 per cent) the biggest loser. NSE's Nifty settled flat at 11,472, up around 6 points or 0.05 per cent. India VIX increased over 2 per cent to 19.6 levels.
Earlier, the benchmark indices scaled the highest level in the last six months, on the back of firm global cues. The S&P BSE Sensex hit an intra-day high of 39,009 levels. The Nifty50 index also dipped below the 11,500 after holding on to the psychological level for the first one hour.
Earlier, the benchmark indices scaled the highest level in the last six months, on the back of firm global cues. The S&P BSE Sensex hit an intra-day high of 39,009 levels. The Nifty50 index also dipped below the 11,500 after holding on to the psychological level for the first one hour.
The Nifty sectoral indices were mixed, with the Nifty PSU Bank index, up over 1 per cent, leading the list of gainers.
In the broader market, the S&P BSE SmallCap index ended 0.11 per cent higher while the S&P BSE MidCap index gained 0.5 per cent.
Buzzing stocks
Buzzing stocks
Shares of Allcargo Logistics were locked in the 20 per cent upper circuit band at Rs 130.8 per share -- also its 52-week high -- on the BSE on Tuesday after the company said its promoters Shashi Kiran Shetty and Talentos Entertainment Pvt Ltd intend to voluntarily delist the company. READ MORE
Nocil ended 9.5 per cent higher on the BSE even as the company reported a 64 per cent decline in its consolidated net profit at Rs 11.95 crore against Rs 32.88 crore profit in the year-ago period. Revenue from operations stood at Rs 106.51 crore, down 53.6 per cent year-on-year (YoY).
Global markets
Asian stock markets were mostly higher after the US and China indicated progress in trade talks, and as hopes of new coronavirus treatments boosted broader sentiment among global investors.
European stocks, too, gained in trade with Frankfurt shares hitting a one-month high.
In commodities, crude oil prices were mixed as traders weighed massive production cuts in the US Gulf Coast from Tropical Storms Marco and Laura against rising coronavirus cases in Asia and Europe.
(With inputs from Reuters)
3:55 PM
SECTOR WATCH:: Financial stocks gain
3:54 PM
MARKET AT CLOSE:: Gainers and losers on the S&P BSE Sensex
3:36 PM
CLOSING BELL
The S&P BSE Sensex ended at 38,844, up 45 points or 0.12 per cent while NSE's Nifty ended at 11,472, up 6 points or 0.05 per cent.
3:25 PM
MARKET CHECK:: Top 5 losers on the BSE at this hour
3:17 PM
MARKET CHECK:: Top 5 gainers on the BSE at this hour
3:02 PM
NEWS ALERT :: SBI Funds Management appoints Vinay M Tonse as MD & CEO
SBI Funds Management Private Limited (SBIFMPL, a joint venture between State Bank of India (“SBI”), India’s largest bank, and Amundi, Europe’s largest asset manager, today announced the appointment of Mr. Vinay M Tonse as MD & CEO of SBI Funds Management Pvt Ltd. Mr. Vinay M Tonse takes over as the Managing Director & Chief Executive Officer with effect from 24th August 2020 from Mr. Ashwani Bhatia who now returns to parent State Bank of India (SBI) as its Managing Director.
3:01 PM
MARKET UPDATE:: Broader indices outperform benchmarks
2:54 PM
STOCK ALERT :: Rallis India hits record high
2:51 PM
» More on 52 Week High
Stocks that hit 52-week high on BSE today
COMPANY | PRICE(rs) | 52 WK HIGH | CHG(%) |
---|---|---|---|
ADANI ENTERP. | 286.60 | 286.60 | 14.98 |
AFFLE INDIA | 2803.20 | 2803.20 | 10.00 |
ALKYL AMINES | 3273.00 | 3449.95 | -3.68 |
ALLCARGO LOGIST. | 130.80 | 130.80 | 20.00 |
APL APOLLO TUBES | 2444.40 | 2480.00 | 2.11 |
2:45 PM
A worrying trend: India's new economy can not be a monopoly board
If that wasn’t enough, multiple media reports now say that Ahmedabad, Gujarat-based billionaire Gautam Adani, an early and enthusiastic supporter of Prime Minister Narendra Modi, might also succeed in taking control of the already-privatised Mumbai airport, as well as a new one coming up on the financial center’s outskirts. READ MORE
2:45 PM
SECTOR WATCH:: Metals stocks decline
2:34 PM
Tata Motors AGM :: Focusing on passenger, smaller commercial vehicle segment, says N Chandrasekaran
2:31 PM
Tata Motors AGM :: Co has a net automotive debt of Rs 48,000 cr, have target to reduce this to near-zero levels in 3 yrs, says N Chandrasekaran
2:26 PM
JSW One to combine distribution network of steel, cement businesses
JSW Group has presence in Steel, Cement & Paints business in India. Since, all the three products have a common set of customers, in a bid to reach out to this common set of clientele, an integrated effort is being made via the initiative. READ MORE
2:18 PM
Axis Bank, Max Fin: How to trade these stocks after a tweak in the deal
Shares of Max Financial Services advanced around 15 per cent to hit a 52-week high of Rs 630.9 on the BSE on Tuesday, a day after the company said that Axis Bank has reduced the size of the stake that it plans to buy in Max Life Insurance to 17 per cent from 29 per cent. Axis Bank's move comes months after media reports said the deal, announced in April, ran into a regulatory roadblock over certain clauses in the agreement. READ MORE
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First Published: Aug 25 2020 | 7:19 AM IST