Sensex gains after 2-day hiatus, ends 226 pts up; broader indices decline

Sectorally, the Nifty IT index advanced 2 per cent while the Nifty Auto index tumbled 1.5 per cent

3:37 PM

CLOSING BELL :: Sensex, Nifty snap 2-day losing streak

>> Sparked by a rally in IT names along with gains in index heavyweight RIL and financial stocks, benchmark Sensex rose 226 points or 0.41% at 55,556. Meanwhile, Nifty50 ends at 16,496, up 46 points or 0.28%. Both indices rose after a gap of two days. 

 

3:11 PM

Gold ETFs log Rs 61-cr outflow in July as investors pick equity, debt funds

Barring February 2020, November 2020 and July 2021, investments into ETFs that track the yellow metal have been witnessing a steady uptick since August 2019.

 

The gold ETFs category, which has seen continuous inflows since December 2020, witnessed an outflow of Rs 61.5 crore in July this year.This was starkly different as compared to the inflows of Rs 360 crore in June and Rs 288 crore in May. READ MORE

2:59 PM

Nitin Chugh's exit, provisioning concern to weigh on Ujjivan SFB: Analysts

The resignation of Nitin Chugh, managing director and CEO of Ujjivan Small Finance Bank has triggered a panic selloff in the stock as the scrip has plunged 23 per cent on the BSE over the past one week as against a 0.1 per cent decline in the benchmark S&P BSE Sensex. Including Monday’s intra-day fall of 9.6 per cent, the stock has tumbled 31 per cent in six days. READ MORE 

2:44 PM

Jio adds 5.5 mn users in June; Vodafone Idea sheds 4.3 mn customers

Reliance Jio added 5.5 million subscribers to its network in June, followed by Bharti Airtel with 3.8 million users, while Vodafone Idea continued with its losing streak by shedding another 4.3 million customers in the reporting period, as per latest data by the Telecom Regulatory Authority of India (TRAI). Overall telephone subscribers in India increased from 1,198.50 million at the end of May 2021 to 1,202.57 million at the end of June 2021, a monthly growth rate of 0.34 per cent. READ MORE

2:33 PM

HCL Tech surges 5% on signing contract with reinsurers Munich Re

Shares of HCL Technologies surged 5 per cent to hit a new high of Rs 1,168 on the BSE in intra-day trade on Monday, after the company said it has signed a contract with Munich Re, one of the world’s leading reinsurers, to create a nextgeneration digital workplace for its workforce. READ MORE

2:07 PM

Top Sensex contributors at this hour: TCS, RIL, HCL Tech

1:46 PM

NEWS ALERT :: HCL signs contract with Munich Re to transform digital workplace services in 40 countries

1:41 PM

Nestle India hits new high of Rs 20,000; stock up 13% so far in August

Thus far in the month of August, Nestle India has rallied 13 per cent, as compared to a 5.6 per cent rise in the Nifty50 index. For the April-June 2021 quarter (Q2CY21), Nestle India had reported slightly better-than-expected revenue growth of 13.8 per cent year-on-year (YoY) on a base impacted by COVID-19 induced lockdown, with production disruptions across factories. READ MORE

1:26 PM

Dollar retreats from 9-month high as stock rally lifts sentiment

The move came as equities rebounded across the region, with base metals prices up as hopes of an improvement in demand rose after China, the world's top metals consumer, reported no new locally transmitted COVID-19 cases for the first time since July. Wall Street's stronger finish on Friday also underpinned sentiment. READ MORE

1:10 PM

BS Number Wise: The name's bond, oil bond!

The occurrence of two full moons within the same calendar month is rare. We colloquially call it “blue moon”. Somewhat similarly, the legacy of yesteryears’ oil bonds springs up from the dungeon of collective neglect every few years, or once in a blue moon. In 2018, it was petroleum minister Dharmendra Pradhan who mentioned them. This time, it was Finance Minister Nirmala Sitharaman pointing to them while explaining to journalists why her government was holding on to exorbitant tax rates on petrol and diesel. READ MORE

12:48 PM

Long-only alternative investment funds outperform long-short peers in July

Long-only alternative investment funds (AIF) outperformed long-short funds in July. The former gave average category returns of 5.1 per cent compared with 1.1 per cent for the latter, shows data from PMS Bazaar.

 

Of the 32 long-only funds, all except one managed to beat the Nifty50 returns of 0.3 per cent during the month, while nine of the 13 long-short funds beat the benchmark. Aequitas equity scheme I was the best performer in July, with returns of 18.6 per cent. READ MORE

Illustration: Binay Sinha

12:33 PM

Amara Raja, Biocon, Hero MotoCorp, Ujjivan SFB hit 52-week lows

Shares of Alembic Pharmaceuticals, Amara Raja Batteries, Biocon, Gulf Oil Lubricants, Hero MotoCorp, Ujjivan Financial Services, Ujjivan Small Finance Bank and Whirlpool of India are among the stocks of eight companies from the S&P BSE500 index that hit their respective 52-week lows in intra-day on Monday. Some other noteable counters such as Yes Bank, PTC India Financial Services Diamines & Chemicals and Future Lifestyle also hit their respective 52-week low in trade today. READ MORE

12:22 PM

NIFTY IT hits new high, gains 2%

12:08 PM

LIC IPO: Centre plans big push to participation by retail investors

The government and the Life Insurance Corporation of India (LIC) are planning a campaign to give a big push to participation by retail investors, that includes opening of demat accounts for policyholders in IDBI Bank, in the run-up to its initial public offering (IPO). The campaign will aim to make retail investors as well as LIC policyholders aware of India’s largest public offering, said an official. READ MORE

11:50 AM

Is the correction in metal stocks a buying opportunity? What analysts say

Investors are reviewing the supply and demand equation across a range of industrial commodities. Prices reacted across the entire metals space last week as a result. Iron ore prices have dropped to the lowest of the calendar year, along with a fall in various steel contracts. There were also reactions in other industrial metals such as copper and zinc. Share prices across primary commodity suppliers, such as mining companies and metal producers were hit as well. READ MORE