Stock Market Highlights, Aug 21: SmallCap index outruns peers; RML, Nelco, Shriram Prop top gainers

Stock Market Highlights on Wednesday, August 21: While the BSE Sensex ended at 80,905, up 102 points, the Nifty settled 71 points higher at 24,770

10:26 AM

HG Infra stock gains 4% on emerging lowest bidder for project of Rs 781 cr

HG Infra stock in focus: Shares of construction engineering company HG Infra Engineering rose as much as 4.05 per cent to hit an intraday high of Rs 1,647.15 per share. The uptick in HG Infra share price came after the company announced that it has emerged as the lowest bidder (L-1) for a project worth Rs 781.11 crore. Read more

 

10:14 AM

Filing: S&P Global upgrades Tata Power's credit rating to 'BBB-' from 'BB+', with a positive outlook

 

 

10:01 AM

Filing: Dr Reddy's to partner with US-based Kainomyx to develop anti-malarial drug

9:43 AM

Genus Power Infra zooms 5% on large order win worth Rs 3,608.52 crore

9:33 AM

PNB Housing Fin soars 8% on General Atlantic divesting 5.1 per cent equity in Co

9:30 AM

Cyient zooms 3% on plans to sell 14.5% equity of its subsidiary Cyient DLM via block deals

9:23 AM

Nifty Realty, Nifty Bank lead sectoral losses

9:20 AM

Broader markets open in green

9:19 AM

L&T, Tata Motors lead on NSE

9:18 AM

Heatmap check

9:17 AM

Opening Bell: Nifty marginally lower at 24,681 levels

9:15 AM

Opening Bell: Sensex down 130 pts to 80,671 levels

9:10 AM

Pre-open: Nifty below 24,700

9:08 AM

Pre-open: Sensex dips over 130 pts

9:06 AM

Expert Speaks: 'Reversion to mean is a normal trend'

- An important trend in the market now is the shift in market preferences from overvalued segments to fairly valued segments. Attractively valued financials are witnessing value buying and overvalued segments like railways and defence- related stocks are witnessing profit booking. This is a healthy trend and is likely to sustain for some more time. Prices cannot soar continuously. Reversion to mean is a normal trend.

 

- The trend of FII selling and DII buying continues. But the fall in the dollar index to 101.39 has the potential to arrest the trend of FII outflows. But big FII investment will happen only if Indian valuations correct, which appears unlikely in the present context of sustained domestic inflows. Despite high valuations the undertone of the market continues to be bullish.

Views By: V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.