Sensex rises 176 pts to end above 56K for first time; BSE Midcap jumps 1%

The broader markets, meanwhile, outperformed, rising for the fourth straight session

11:18 AM

Laxmi Organic hits new high; stock zooms 52% in 3 weeks on robust Q1 show

Shares of Laxmi Organic Industries surged 8 per cent to hit a new high of Rs 414.05 on the BSE in intra-day trade on Friday in an otherwise range-bound market. The stock of the specialty chemicals company was trading at the highest level since its listing on March 25, 2021. In the past three weeks, the market price of Laxmi Organics has soared 52 per cent after the company delivered a robust financial performance for the quarter ended June 2021 (Q1FY22). With the past three weeks' rally, the stock has zoomed 219 per cent against its issue price of Rs 130 per share. READ MORE

11:10 AM

Sensex heat map

11:09 AM

PSU stocks shine in trade

COMPANY	LATEST	CHG (RS)	CHG(%)
G M D C	66.15	3.40	5.42
Natl. Aluminium	82.65	3.75	4.75
NLC India	52.10	1.75	3.48
NMDC	153.30	4.55	3.06
S A I L	118.35	3.05	2.65

11:08 AM

Midcap buzzers

COMPANY	LATEST	CHG(%)	WEIGHT IN INDEX (%)
Adani Power	89.00	4.52	0.56
JSW Energy	246.40	3.51	0.67
Torrent Power	486.75	2.93	0.71
S A I L	118.35	2.65	1.14
Voltas	981.70	2.51	1.51

11:06 AM

Volume toppers :: Sensex

11:05 AM

Nifty snapshot

11:05 AM

Markets flat as a pan!

10:54 AM

MARKET COMMENT :: Chris Wood of Jefferies

While Chinese internet companies are now facing the reality of a change in the rules of the game, that remains only a potential risk in America. Still the risk of meaningful legislative and/or regulatory action in America against Big Tech certainly cannot be ruled out altogether, though the process will clearly be far more drawn out than Beijing’s top down enforcement methods.

(Source: GREED & fear)

Christopher Wood, global head of equity strategy at Jefferies

10:52 AM

Events ahead

10:51 AM

Edelweiss on Marico

We like Marico’s focus on improving volumes over the long term and market share gains, a strategy that management has adhered to over the past few years. Even as the company has had an eye on market share, it compromised on margin. The renewed focus on innovation and strengthening e-commerce are strong positives. The focus on innovation so far has been good—be it in the healthy foods segment or now growth of e-commerce brands such as Beardo and acquisition of Just Herbs.

 

Overall, we expect Marico’s revenue trajectory to continue to be robust following management interventions. Competitive intensity in the hair oil category, which is susceptible to down-trading, needs to be monitored. All in all, we maintain ‘HOLD/SN’ with a TP of INR550. The stock is trading at 43.4x FY23E EPS.

10:50 AM

Crisil view

10:49 AM

Edelweiss on metal sector

10:40 AM

ALERT :: Sensex recovers nearly 300 points from day's low

10:35 AM

Sensex can rally 2,000 pts. How to trade markets in September F&O series?

S&P BSE SENSEX
Likely target: 58,000
Upside potential: 3.0%

The index has seen a phenomenal run-up in the August series, adding 6 per cent to hit a record high of 56,198 levels. This move was the result of a consolidation breakout appeared in the July series. The momentum is expected to continue in the September F&O series as well and one can expect the Sensex to move up around 2,000 points. READ MORE

10:14 AM

Zen Technologies hits 52-week high, zooms 30% in three days

Shares of Zen Technologies rallied 12 per cent to hit a 52-week high of Rs 107.75 on the BSE in intra-day trade on Friday on the back of heavy volumes. The stock of the defence company has zoomed 30 per cent in the past three trading days. The trading volumes on the counter jumped over seven-fold, with a combined 0.91 per cent of the total equity having changed hands on the NSE and BSE so far. READ MORE