F&O expiry: Sensex ends choppy trade on flat note, gains 6% in Aug series

Sectorally, the metals pack bled the most, down 1.3 per cent, followed by the PSB Index (down 0.8 per cent)

10:45 AM

Indian banks will be able to withstand rising asset risks, says Moody's

India's second Coronavirus (Covid-19) wave is increasing asset risks for banks in retail and the SME loan segement. However, factors like tight credit underwriting, strong loss provisions will help banks withstand pressures and prevent a sharp rise in bad loans, according to rating agency Moodys. The rating agency in a statement said that banks' improved profitability, capital and loss buffers will help them absorb anticipated loan losses and maintain credit strength. READ MORE

10:32 AM

Thermax gains 4% as subsidiary bags order worth Rs 293 crore

Overall, Thermax has been reporting order inflows in the range of around Rs 1,500 to Rs 1,700 crore from each of the last three quarters owing to a broad-based recovery in sectors, ranging from cement, steel, food & beverages, refinery etc. The consolidated order inflow for Q1FY22 was at Rs 1,696 crore (Vs. Rs 608 crore in Q1FY21) amid challenges. Consequently, the consolidated order book as of Q1FY22 stood at Rs 6,109 crore, up 17 per cent year-on-year (YoY), ICICI Securities said in a note. READ MORE

10:22 AM

QIP, Jhunjhunwala stake buy: Canara Bank can rise 31% from here, charts say

Canara Bank has been in the news recently in the backdrop of the bank raising Rs 2,500 crore via a qualified institutional placement (QIP), with a floor price at Rs 155.58 per equity share. That apart, Rakesh Jhunjhunwala has picked a 1.59 per cent stake in the state-owned lender, latest shareholding pattern data showed. READ MORE

10:07 AM

Bharti Airtel declines 2% as board to consider fund raising

Shares of Bharti Airtel were down 2 per cent at Rs 599.35 on the BSE in intra-day trade on Thursday on profit booking after the company announced fundraising plans. The stock of the telecom services provider has corrected 7 per cent from its record high level of Rs 644 touched on August 16, 2021. Bharti Airtel on Wednesday, after market hours, informed the exchanges that its board will meet on August 29 to consider and approve raising funds via equity, equity-linked or debt instruments or a combination. READ MORE

9:54 AM

MARKET VIEW

Despite the rich valuations and the uncertainty surrounding Covid, markets continue to be resilient in the developed world, especially the mother market US. The S&P 500 and Nasdaq set another record yesterday.

 

Among emerging markets, India is the clear outperformer with Nifty returning 18.97% YTD. This is in sharp contrast to the poor returns YTD in other emerging markets like Indonesia and Brazil and negative returns in markets like Malaysia and the Philippines. An important factor that distinguishes India is the enthusiastic participation of retail investors who have been buying all stocks being sold by the FIIs who have been selling consistently during the last several days. Stability in the US market indicates that the market doesn't expect any market-moving announcements from the Fed at the Jackson Hole symposium. Therefore, if the Fed chief makes any mildly hawkish statement regarding the normalization of monetary policy or tapering on August 27th, markets may respond negatively to that.

-- Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

9:43 AM

Future Retail rises 2% as Sadashiv Nayak appointed as CEO

>> Sadashiv Nayak has been appointed as chief executive officer of Future Retail with effect from Wednesday. Nayak has been associated with Future Group for over 17 years. In the last 8 years as the CEO of Big Bazaar, he has played a pivotal role in making Big Bazaar what it is today, the company said.

9:38 AM

Airtel falls 2% as board to mull fund raising on Aug 29

>> The telecom operator said on Wednesday its board will meet on August 29 to consider various capital raising via equity or equity linked or debt instruments.

9:32 AM

ALERT :: Wockhardt and Jemincare partner for novel respiratory antibiotic Nafithromycin

>> Wockhardt Bio AG – a subsidiary of Wockhardt Limited - and Jiangxi Jemincare Group Company Limited, China (“Jemincare”), have partnered for Wockhardt’s novel patented antibiotic WCK 4873 (INN: Nafithromycin) in People’s Republic of China, Hong Kong, Macau and Taiwan for the treatment of community-acquired bacterial pneumonia and other respiratory tract infections. 

>> Wockhardt to receive upfront and milestone payments, in addition to royalties

9:30 AM

Volume toppers today :: BSE 500

COMPANY NAME	LATEST	CHG (Rs)	CHG(%)	VOLUME
Vodafone Idea	6.24	-0.07	-1.11	2930364
Suzlon Energy	6.13	0.03	0.49	400253
Natl. Aluminium	81.10	-0.30	-0.37	171718
Ujjivan Small	19.90	0.05	0.25	136218
Canara Bank	152.30	1.25	0.83	135720

9:28 AM

Weekly gainers

COMPANY	CMP (Rs)	ONE-WEEK BEFORE	GAIN(Rs)	GAIN(%)
Linde India	2,499.50	1,903.30	596.20	31.32
Adani Total Gas	1,294.55	1,014.40	280.15	27.62
Adani Transmissi	1,365.00	1,069.55	295.45	27.62
New India Assura	161.20	137.95	23.25	16.85
Venky's (India)	3,005.00	2,573.75	431.25	16.76

9:26 AM

F&O cues

(Source: SMC Global Securities)

9:25 AM

Market view

(Source: SMC Global Securities)

9:23 AM

BSE advance, decline stats

9:22 AM

Bank stocks hit

9:20 AM

Sector watch