Here are the key highlights from this week's session:

- Sensex & Nifty post biggest weekly gains in a month & Nifty Bank in 3 months

- Midcap Index gains for 4th straight week, posts biggest weekly gains in a month

- Sensex gains 2.7%, Nifty 2.4% and Nifty Bank 10% this week

- Midcap Index up 2.3% & PSU Bank top gaining index this week with 8%

- IndusInd Bank, Tata motors, Axis Bank & SBI top Nifty gainers this week

- Shree Cement, NTPC, Power Grid top Nifty losers this week

Aug 28, 2020 3:53 PM

Here are the key market highlights from today's trading session:

- Financials lift market with the sector contributing 89 points to Nifty

- Sensex & Nifty gain nearly 1% each to close at 6-month highs

- Nifty Bank gains 4% to close at 5-month high; biggest 1-day gain in 3 months

- Sensex gains 354 points to 39,467 and Nifty 88 points to 11,648

- Nifty Bank surges 923 points to 24,524 and Midcap index 99 points to 17,369

- 5 of the top 10 Nifty gainers are financials; IndusInd Bank top gainet with 10% rise

- Sun Pharma surges 6% on positive commentary in the AGM

- Goldman Sachs’ upgrade fails to lift IT majors; Infosys & TCS slip

- Dr Reddy’s slips despite US FDA closing warning letter for 3 sites

- NMDC moves 12% higher as company expects Q2 to be better than Q1

Aug 28, 2020 3:50 PM

Closing Bell: ​Sensex, Nifty end higher for sixth straight session; up 2.5% for the week

Indian indices ended higher for the sixth consecutive session on Friday lifted by gains in financial stocks. Heavyweights ICICI Bank, Axis Bank, Kotak Bank, IndusInd Bank, SBI, and HDFC contributed the most to the benchmarks.

The Sensex ended 354 points higher at 39,467 while the Nifty rose 88 points to end at 11,647. For the week, the indices rose around 2.5 percent.

The benchmark indices have climbed close to 5 percent this month on signs that business activity is picking up and global optimism around potential coronavirus vaccines.

Broader markets, however, were mixed fo the day with the midcap index up 0.6 percent and smallcap index down 0.3 percent.

IndusInd Bank, Axis Bank, UPL, SBI and ICICI Bank were the Nifty50 top gainers while JSW Steel, Hero MotoCorp, Dr Reddy's, Power Grid and Infosys were the index top losers.

Aug 28, 2020 3:46 PM

Just In: Several states reject Central Govt's GST proposal asking them to borrow directly via RBI to bridge the compensation shortfall. Tune into CNBC-TV18 for an exclusive coverage of Shereen Bhan speaking to West Bengal's Finance Minister Dr Amit Mitra and Kerala's Dr Thomas.

Aug 28, 2020 3:22 PM

Don't expect stamp duty cut to dramatically boost demand, says DLF

Real estate company DLF said that the reduction in the stamp duty by the Maharashtra government is a positive move, however, one should not expect it to dramatically boost demand.

The Maharashtra government on Wednesday announced its decision to reduce stamp duty on flats from 5 percent to 2 percent till December 31 and to 3 percent between January 1 and March 31.

Analysts believe the affordable and mid-segment properties, which are in maximum demand, will see the most traction from such a move. Jefferies says more states will follow suit and developers responding with price cuts are possibilities.

Reacting to the move, Ashok Tyagi, whole-time director at DLF, said, “We don’t know how the other states will follow, whether they will follow suit or not, that is something to be seen in the future. Even if nothing else changes, it does end up reducing the cost of real estate at the hands of the end customer by 3 percent. It reduces the cost of some restructuring transactions that the industry may need to take, so that is a welcome move for sure."

Aug 28, 2020 3:08 PM

Max India lists at Rs 80 on BSE

Shares of Max India debuted at Rs 80 on the BSE after business conglomerate Max group relisted its arm on the bourses for trading on Friday. The stock opened at Rs 80 on the BSE, but later dipped below the opening price and touched lower circuit limit of Rs 76, down 5.26 per cent from the opening price. On the NSE, it debuted at Rs 79.95 and as trade progressed it hit its lowest trading permissible limit for the day of Rs 76.

A BSE filing on Friday said, trading members of the exchange are hereby informed that effective from August 28, 2020, the equity shares of Max India Ltd are listed and admitted to dealings on the exchange in the list of 'T' group securities.

"The listing will unlock value for shareholders of erstwhile Max India allowing them with pure play access to the sunrise and high-potential senior care sector," the company had said on Thursday.

Max India, which got delisted in June, had recently announced plans to invest Rs 300 crore over the next four years to develop a housing project for senior

living in Noida, Uttar Pradesh, as well as in its new assisted-care services business.

Advaita was formed as a result of the merger of the healthcare assets of the erstwhile Max India into Max Healthcare and demerger of the senior care and other businesses of Max India into Advaita on June 1, 2020.

Aug 28, 2020 2:52 PM

Rupee Ends | The Rupee ended higher at 73.39 per dollar against Thursday's close of 73.84. The Rupee has risen 1.9 percent this week, posting biggest weekly rise against the dollar since the week ended December 21, 2018

The 5.79% 2030 bonds ended down 20 paise at Rs 97.20; yields at 6.18%

Aug 28, 2020 2:44 PM

ICICI Direct launches commodity derivatives trading | Brokerage firm ICICI Securities has announced the launch of commodity derivatives trading on the icicidirect.com platform. The brokerage said this will enable its nearly 50 lakh client base to trade in commodities futures on the Multi Commodity Exchange (MCX). Existing icicidirect.com 3-in-1 account holders can begin trading post a simple online commodities registration process with a competitive brokerage of Rs 20 per order and only Rs 2 per lot, the brokerage said.

Aug 28, 2020 2:35 PM

Battery majors Exide Industries and Amara Raja register first revenue decline in 20 years

The ongoing COVID-19 crisis, the decline in the auto OEM and telecom segments, and weakness in the overall economy have led to a first revenue decline for the battery industry in FY20 in the last 20 years.

The two major battery players, Exide Industries and Amara Raja Batteries have seen their revenue hurting by loss of sales due to the lockdown in the latter half of March 2020.

The revenue decline may continue in FY21, given 2-3 months of lockdown in the early part of the year. But, this decline has been mostly captured in Q1FY21, according to IIFL Securities. Read more here.

Aug 28, 2020 2:25 PM

Technical Experts' View: Hemen Kapadia of KRChoksey Securities recommends three stocks. “We have a buy call on Sun Pharmaceutical.It has been moving sideways for almost 14 trading sessions, and might break out. We have a short term a buy call on the stock, at Rs 545 with stop loss Rs 530 and target at Rs 575.”

The second one is Shriram Transport Finance. Like Sun Pharma, the stock is consolidating and the volume has also picked up in the last three trading sessions. The indicators have turned positive given crossover buys. It is on the cusp of a breakout so one can buy Shriram Transport at Rs 760 with a stop loss Rs 745 and target Rs 790, said Kapadia.

His last recommendation is on HCL Technologies, with buy at Rs 715 stop loss at Rs 700 and target Rs 745.”

Aug 28, 2020 2:15 PM

Milkbasket plans to launch IPO next year

Daily grocery delivery platform Milkbasket has advanced its plan to launch an initial public offering by the second half of next year, buoyed by strong growth in business in recent months amid the pandemic, a top company executive said.

Speaking to PTI, Milkbasket co-founder and CEO Anant Goel said the rapid adoption of at-home grocery delivery amongst consumers during the pandemic has provided an impetus to target an initial public offering (IPO) in just a year.

"Milkbasket has a near-perfect record of reaching growth targets since being founded in 2015. The rapid adoption of at-home grocery delivery amongst consumers due to the pandemic has provided us with an impetus to target IPO in just a year, which we had initially planned for the year 2023," he said. Click here to read more details

Aug 28, 2020 2:01 PM

ITI says will achieve minimum 25% public shareholding norm by August 3, 2021. It’s exploring feasibility of various options including offer of shares to public within prescribed time limit for compliance.

Aug 28, 2020 1:45 PM

A roller coaster ride: A 9000% spike in 5 months followed by a 50% fall in the next two

The share price of Ruchi Soya has lost more than half its value just in the last 2 months. The Patanjali-owned stock has lost as much as 56.2 percent from its 52-week high, hit on June 29, 2020, to currently trading at Rs 672. An investment of Rs 1 lakh on June 29 would have shrunk to Rs 43,778 today.

Baba Ramdev-led Patanjali Ayurved took full control of Ruchi Soya from NCLT in December 2019 after the firm went through the insolvency process. Ruchi Soya owed bankers close to Rs 9,300 crore and was dragged to the National Company Law Tribunal (NCLT), Standard Chartered Bank and HSBC. Among the bidders for the company were Adani Wilmar and Patanjali Ayurved.

It was relisted on January 27, 2020, at Rs 16.9. Since then, the stock surged nearly 9,000 percent in five months to its 52-week high of Rs 1,535. Read more

Aug 28, 2020 1:33 PM

European equities seen higher after key Fed speech

European stocks are set to open higher on Friday morning as investors digest a major policy shift by the U.S. Federal Reserve, and continue to monitor coronavirus news, reported CNBC International.

The FTSE 100 is seen up by 34 points at 6033, while the Dax 30 is expected to open higher by 57 points at 13153, according to IG.

The reaction in Europe comes after U.S. equities got a boost on Thursday following comments from Fed Chairman Jerome Powell. He unveiled a major policy change, which suggests that interest rates are likely to remain low for some time. Generally, news of low rates is positive for stocks.

Aug 28, 2020 1:16 PM

Stock Update: Dr Reddy's Laboratories' shares traded over a percent lower to Rs 4,384 per share on the NSE after the company said that it has addressed violations and deviations highlighted by US FDA in its warning letter for three of its facilities i.e. Srikakulam, Mriyalguda and Duvvada.

Aug 28, 2020 1:02 PM

Load more