D-St bucks weak global trends; Sensex up 230 pts; PSB, realty stocks gain

Adani Ports (up 5 per cent) was the top Nifty gainer today, trailed by NTPC, Titan, SBI, Tata Steel, Bajaj Finserv, Grasim, and HDFC

3:15 PM

Reliance, Tata superapps gear up for battle royale in e-commerce space

This comes at a time when RIL’s e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted. READ MORE

2:56 PM

State-owned banks likely to see lower gains in bond book in FY22: Icra

Public sector Banks, which reaped windfall treasury gains in FY21, are likely to see much lower gains in their bond portfolios in FY22 due to limited headroom for yields to decline further, according to Icra. The rating agency said public sector banks in India reported net profits in FY21 after five straight years of losses, supported by windfall treasury gains. PSBs booked profits of Rs 31,600 crore from this source compared to overall profit Before Tax (PBT) of Rs 45,900 crore in FY21. READ MORE

2:47 PM

Nifty PSU Bank index gains 4%; Central Bank of India, IOB surge 20%

The Centre has shortlisted Central Bank of India and Indian Overseas Bank for divestment, according to a report by TV channel CNBC Awaaz. The two lenders might see 51 percent sale in the first phase of disinvestment, the report said. READ MORE

2:34 PM

Oil prices firm on summer demand as Iran nuclear deal revival talks drag

Oil prices edged higher on Monday, underpinned by strong demand during the summer driving season and a pause in talks to revive the Iran nuclear deal that could lead to a resumption of crude supplies from the OPEC producer.

 

Brent crude for August gained 23 cents, or 0.3%, to $73.74 a barrel by 0825 GMT. U.S. West Texas Intermediate (WTI) crude for July was up 29 cents, or 0.4%, at $71.93 a barrel. READ MORE

2:20 PM

Four of six Adani Group shares locked in 5% upper circuit limit

Shares of Adani group companies were in focus in Monday's session as four out of the six listed stocks were locked in the upper circuit of 5 per cent, bouncing back up to 11 per cent from their respective intra-day lows on the BSE. Adani Green Energy (Rs 1,115.85), Adani Transmission (Rs 1,297.65), Adani Total Gas (Rs 1,321) and Adani Power (Rs 120.60) were locked in 5 per cent upper circuit on the BSE. Adani Ports and Special Economic Zone (APSEZ) and Adani Enterprises rallied 7 per cent and 6 per cent, respectively, in intra-day trade. READ MORE

2:10 PM

Reliance Home Finance takes up resolution plan approved by lenders

Lenders selected Authum Investment and Infrastructure Ltd as the successful bidder to acquire all assets of RHF through a competitive bidding process after several rounds of negotiations between the bidders and lenders.

 

Authum had reportedly submitted a bid of Rs 2,911 crore (which includes Rs 24 crore as deferred interest) to financial creditors. READ MORE

2:00 PM

Higher capex spends likely to impact tyre maker Ceat's return ratios

Tyremaker Ceat has announced an ambitious plan to boost its market share and take leadership positions in multiple categories over the next five years. The company is eyeing a market share of 30-35 per cent in the two- and three-wheeler segments as compared to 28-30 per cent now, while targeting 20 per cent from 13-15 per cent now in passenger car radials. READ MORE

1:52 PM

Mubadala group to put up Abu Dhabi's first IPO since 2017, more to follow

Satellite operator Yahsat has filed for a listing in Abu Dhabi in what would be the first initial public offering on the emirate’s stock exchange since 2017. Al Yah Satellite Communications Co., fully owned by Abu Dhabi’s $243 billion sovereign fund Mubadala Investment Co., plans to offer a stake of as much as 40% next month, according to a statement. The company offers satellite communications solutions in over 150 countries. READ MORE

1:45 PM

Gold set to snap six-day losing streak as US bond yields slide

 Gold prices rose on Monday, following sixth straight sessions of losses, as a drop in U.S. Treasury yields bolstered the non-yielding metal's appeal. Spot gold climbed 0.7% to $1,776.10 per ounce by 0732 GMT, while U.S. gold futures rose 0.4% to $1,775.5 per ounce. The real yields are falling, helping gold prices to stabilise and attempt a rebound, said Margaret Yang, a strategist at DailyFX, adding "investors are also taking this as an opportunity to buy the dip in view of rising inflationary pressure." READ MORE

1:39 PM

European indices flat-to-negative in early deals

(Source: Reuters)

1:37 PM

HCL Tech appoints leaders to expand in South Korea, Taiwan and Vietnam

HCL Technologies has made three appointments in Asia to strengthen its presence in South Korea, Taiwan and Vietnam. It has named Joonho Moon in South Korea, Terry Tai in Taiwan and Nguyen Ha Tuan in Vietnam to lead and drive growth in these geographies. Prior to joining HCL, Joonho spent more than two decades at Samsung SDS in various leadership positions in sales, business development, corporate marketing, and product strategy. READ MORE

1:27 PM

Top gainers on the BSE at this hour

Company	PRICE(rs)	CHG(%)
J & K Bank	39.35	19.97
GMR Infra.	30.75	9.24
Triveni Turbine	122.65	8.64
TV18 Broadcast	45.80	7.64
Bank Of Maha	26.95	7.37

1:16 PM

MARKET UPDATE:: Sensex turns positive

1:13 PM

United Breweries rallies 6 per cent on heavy volumes, hits 52-week high

The trading volumes on the counter doubled with a combined 2.6 million shares changing hands on the NSE and BSE. In comparison, the S&P BSE Sensex was down 0.40 per cent at 52,136 points at 12:06 pm. In the past one month, the stock has rallied 14 per cent, as compared to 3 per cent rise in the benchmark index. READ MORE

1:03 PM

Mid-market view | Likhita Chepa, Senior Research Analyst, CapitalVia Global Research

On the back of negative global cues, Indian market indices pared some losses but remained in negative territory in morning sessions. Sentiments remained negative as Care Ratings warned that credit growth for the current financial year (FY22) is projected to stay in the low double digits. Losses have been limited as a UN report projected that India received $64 billion in foreign direct investment in 2020, making it the world's fifth-largest beneficiary of inflows. After comments from Federal Reserve that the US central bank would raise interest rates sooner than previously predicted frightened investors, US markets closed substantially lower on Friday, with the Dow and S&P 500 having their worst weekly performances in months. Asian markets were trading in the negative territory following the negative sentiments in the global markets.

 

The Market opened with a gap down following the global cues and again took the support near 15500. The market is aligned to trade in the range of 15500-15750 in the following trading days. If the market breached the level of 15750, we expect the market to reach the level of 15950-15980.