Share Market Highlights: Sensex ends 173 points higher, Nifty at 11,259; Hindalco, Eicher Motors top gainers

Sensex, Nifty LIVE Updates on August 17: Sensex and Nifty ended on a bullish note on Monday, amid positive global equities. Sensex ended 173 points higher at 38,050 and Nifty gained 81 points to 11,259. On Friday, the BSE Sensex settled 433 points lower at 37,877 and Nifty fell 122 points to end at 11,178. April-June quarterly earnings announcements by Can Fin Homes, Petronet LNG, Lux Industries, HFCL, Scooters India, Suven Pharma, Sical Logistics among others will also set the tone for the stock market today.

Here's a look at the updates of the market action on BSE and NSE today

3.40 PM: Closing session

Sensex and Nifty ended on a bullish note on Monday, amid positive global equities. Sensex ended 173 points higher at 38,050 and Nifty gained 81 points to 11,259

3. 20 PM: RIL share price declines over 2%

Shares of Reliance Industries were trading lower today, on profit booking, following reports that RIL is at an advanced stage of talks to acquire online furniture brand Urban Ladder and milk delivery platform Milkbasket.

The index heavyweight stock opened at Rs 2103.15 and later touched an intraday low of Rs 207, falling 2.09% as againsthe last closing of Rs 2,114.10 on BSE. The stock also touched an intraday high and low of Rs 2107.3 in the session so far. RIL stock has fallen -2.31% in the last 4 days.

3.09 PM: Nifty technical indicators

Commenting on Nifty's outlook, Angel Broking in its note said," Eventually, due to modest recovery towards the fag end, Nifty concluded the week tad below 11200, marking more than a percent loss on Friday. Going ahead, a breach of 11100 would lead into an immediate correction towards 10975 -10875."

2.55 PM: United Breweries share falls over 2%

United Breweries share fell over 2% in trade today after the firm reported a consolidated net loss of Rs 114.50 crore for the first quarter ended June 30, on account of decline in sales due to the pandemic. It posted a net profit of Rs 164.69 crore during the April-June quarter of the previous fiscal.

The large cap share fell up to 2.01% to Rs 945.25 on BSE. The share has lost 25.13% since beginning of this year and fallen 28.85% during  last one year. The stock is down 3.52% in the last 2 days.

United Breweries share falls over 2% on Rs 114-crore loss in Q1

2. 30 PM: Nifty outlook

Commenting on the market movement, Manish Hathiramani, said," Index Trader and Technical Analyst, Deen Dayal InvestmentsThe markets continued their weakness upon opening this morning. 11050 would be the level to watch out for this week. If we can break that, shorts could be attempted for a target of 10800-10900. On the upside, 11350 is the resistance and any up move would require us to go past that. Until then markets would remain rangebound."

2.04 PM: Market update

Sensex and Nifty were trading on a bullish note on Monday, amid positive global equities. Sensex traded 114 points higher at 37,978 and Nifty gained 51 points to 11,229.

1. 59 PM: Real estate sector update

Speaking outlook for real estate sector, Pradeep Aggarwal, Founder & Chairman -Signature Global Group & Chairman-ASSOCHAM National Council on Real Estate, Housing and Urban Development said, "The global economy has been affected by the Corona virus pandemic; and the realty sector too has been going through challenges. Nevertheless, affordable housing is the only sector which is still growing as it is an end-user driven market, the prevailing low property prices and low home loan interest rates could prompt home-buyers to make their purchase decisions. Even in this pandemic, the government has supported the buyers with the extension of the Credit-Linked Subsidy Scheme (CLSS) which is an added incentive for the Middle-Income Group (MIG) buyers and has opened the multiple avenues for the affordable housing to progress further. Adding on, affordable housing segment helps in bridging the gap between urban poor and mid-housing segment."

1. 30 PM:  PI Industries stock drops 2%

Shares of PI Industries were trading 2.3% lower on Monday after the company's chief financial officer Subhash Anand stepped down from the company.

Following the regulatory update, PI Industries stock touched an intraday low of to Rs 1,892.25 per share on the BSE, falling 2.38% as against the earlier closing of Rs 1938.35 on BSE. Stock price of PI Industries also touched an intraday high of Rs 1952.45, after opening at Rs 1948.95.

1. 15 PM: Glenmark Pharma share rises 7%

Share price of Glenmark Pharmaceuticals rose 7% on Monday after the Indian drugmaker reported an over two-fold rise in consolidated net profit at Rs 254.04 crore for the quarter ended June against  Rs 109.28 crore profit for the April-June period of 2019-20.

Glenmark Pharma share rises 7%

12. 58 PM: Wipro share price rises 3.54%

Wipro share price gained over 3% after the IT firm announced it has completed the acquisition of Brazilian IT firm IVIA Servios de lnformitica Ltd. Share price of Wipro rose 3.54%  to  Rs 286.3 against previous close of Rs 475.40 on BSE. Wipro share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 13% in one year and  risen 14.56% since the beginning of this year.

Wipro share price rises 3.54% on acquisition of Brazilian firm

12. 41 PM: Dollar index

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.09 per cent to 93.01.

12. 20 PM: Oil prices

Oil price edged lower on Monday on worries that demand would recover slowly than expected from ongoing lockdowns.  International crude oil benchmark Brent was trading flat at USD 45.13 per barrel.

12. 10 PM: Rupee opens higher

Indian rupee gained 8 paise to 74.82 per dollar on Monday's opening trade, tracking positive domestic equities and weak American currency.

The domestic unit opened at 74.86 per dollar at the interbank forex market, and gained further ground to touch 74.82 per dollar, registering a gain of 8 paise over its previous close of 74.90 per dollar on Friday.

Forex traders said positive trend in the equity markets, weak American currency and sustained foreign fund inflows supported the rupee, while US-China concerns and rising COVID-19 cases kept gains checked.

11.54 AM: Glenmark Pharma Q1 update

Commenting on 1QFY21 results of Glenmark Pharmaceuticals,Yash Gupta, Equity Research Associate, Angel Broking said, "Glenmark Pharmaceuticals Ltd consolidated revenue from operations for Q1FY21 stood at Rs 2,309 crores up by 1.1% YoY in Q1FY20, driven by strong growth in the Europe business.  Revenue from USA business and ROW business are down by 1.6% and 18.1% respectively in Q1FY21.Overall the company posted a better than expected set of numbers for the quarter. Glenmark also became the first company in India to launch Favipiravir for the treatment of mild to moderate COVID-19."

11. 43 AM: Top gainers and losers

NTPC, Tata Steel, L&T, Titan and Kotak Bank were among the major gainers on Sensex pack. While, RIL, SBI, HDFC, HDFC Bank, Axis Bank and ICICI Bank were among the top laggards.

11. 33 AM: RBI dividend to govt

Commenting on dividend by RBI to the government, Jyoti Roy , DVP- Equity Strategist, Angel Broking said,"RBI in its board meeting decided to transfer Rs. 57,128 crore as dividend to the Government as compared to a Rs. 1.76 lakh cr. last year which included a onetime special transfer of Rs. 52,637 crore. The RBI board decided to maintain the contingency buffer of 5.5% which is within the target range of 5.5-6.5%.While the transfer is along expected lines, there is a possibility that the Government may seek an interim dividend from the RBI towards the closure of the financial year like it has done in the past given that the fiscal deficit is likely to overshoot the target of 3.6% by a wide margin."

11. 21 AM:Gold outlook

As per the Geojit Financial Services, Broad bias is still on the bullish side, but a sustained trade above $1980 is required to continue upticks for the day. Else, likely for corrective selling pressure towards $1860 followed by $1780 levels later.

For MCX Gold August, resistance is placed at 53,250 and support is at 51,400/49,200. For MCX Silver August futures, the resistance is at 71,500/74,980 and the support is placed at 60,800.

11.01 AM: Global cues

Asian markets are trading mixed as investors remained cautious as tensions between US and China continued to weigh.

U.S. markets closed higher on Friday barring tech heavy Nasdaq. Wall Street still fought with coronavirus aid negotiations and tensions with China.

European markets closed lower on Friday as investors remained concerned over a second wave of coronavirus in UK and also due to stalled U.S. stimulus talks.

10. 39 AM: MCX Gold

The yellow metal traded flat after minor decline early morning and traded 0.10% or Rs 53 higher at Rs 52,280, after hitting an intraday high of Rs 53,340 against the previous close of Rs 52,227 per 10 gm. MCX gold futures trade almost Rs 3,851 lower than the lifetime high of Rs 56,191 per 10 gm, hit on August 7.

Silver September futures were trading Rs 1,141 higher at Rs 68,312 per kg today after they touched an intraday high of Rs 68,470 per kg. Silver Futures have hit a lifetime high of Rs 77,949 on August 7.

10. 22 AM: Gold outlook

Commenting on Gold's outlook, Hareesh V, Head Commodity Research at Geojit Financial Services said," Signs of easing US-China trade tensions and hopes of a rebound in the US dollar are likely to weigh on the safe haven demand of the metal in the immediate run. However, slow global growth prospects amid rising threat of pandemic continue to provide support to the broad bullish outlook of the commodity."

On London spot technical outlook, he added, "If there is Inability to break the intraday upside hurdle of $1970, we can expect sell offs to continue in the counter. Else, recovery rallies are likely to be towards $2080 or even more. A direct drop below $1880 could negate the bullish outlook and take prices lower."

10. 18 AM: Gold imports plunge 81% to $2.47 billion during April-July

India's gold imports, which have a bearing on the current account deficit (CAD), plunged 81.22 per cent to $2.47 billion (about Rs 18,590 crore) during April-July period of 2020-21 due to a significant fall in demand in the wake of COVID-19 pandemic, according to data from the Commerce Ministry. The decline in gold and silver imports has helped in narrowing the country's trade deficit, difference between imports and exports, to USD 13.95 billion during April-July 2020-21 as against USD 59.4 billion in the year-ago period

Gold imports plunge 81% to $2.47 billion during April-July

10. 08 AM: Global cues

Asian stocks were trading mixed on Monday as tensions between the US and China continue to weigh on investor sentiment. In US, stocks ended on a mixed note on Friday as data on the US economy added to uncertainty over the recovery. Meanwhile, a planned US-China trade deal review initially set for Saturday was reportedly delayed with no new date agreed upon. The delay was due to scheduling conflicts as well as to give time for more Chinese purchases of U.S. exports.

9. 52 AM: Stocks to watch today on August 17

ICICI Bank, Glenmark Pharma, United Breweries, Fortis Healthcare, Berger Paints among others are the top stocks to watch out for in Monday's trading session

Stocks in news: ICICI Bank, Glenmark Pharma, United Breweries, Fortis Healthcare, Berger Paints

9. 46 AM: Market erases gains

Sensex and Nifty opened on a bullish note on Monday, although turned volatile within the first hours of session, amid weak global equities. Sensex traded 23 points higher at 37,900 and Nifty gained 18 points to 11,197. Global equities were trading mixed today as tensions between the US and China and rising coronavirus cases added to uncertainty over the recovery.

9. 34 AM: RBI transfers Rs 57,128 crore in surplus as dividend to Govt

The Reserve Bank of India (RBI)'s central board has approved the transfer of Rs 57,128 crore in surplus as dividend to the government for the accounting year 2019-20. The Board reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory and other measures taken by RBI to mitigate the economic impact of COVID-19 pandemic.

9. 19 AM: Opening bell

Sensex and Nifty opened on a bullish note on Monday, amid positive global equities. SGX Nifty was rising 90 points higher, indicating positive trend in domestic grounds today. Sensx traded 180 points higher at 38,018 and Nifty gained 53 points to 11,231.

9. 10 AM: FII/ DII data

Foreign portfolio investors (FPIs) bought shares worth Rs 46.39 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 797.08 crore in the Indian equity market on 14 August, provisional data showed.

9.00 AM: Nifty outlook

"The week ahead for the global markets will be shaped by the outcome of US-China meeting, and with Indian markets increasingly in sync with global cues, this could have an impact on the opening days of the week. Any indication of another stimulus package by the government will benefit the markets. Focus will remain on earnings visibility and with liquidity remaining high, any corrections may be bought into. However, we advice to be in an accumulation mode and focus on quality stocks," said Vinod Nair, Head of Research at Geojit Financial Services.

Share market expectations: 10 things you need to know before opening bell

8. 50 AM: Earnings Today

Can Fin Homes, Petronet LNG, Lux Industries, HFCL, Scooters India, Suven Pharma, Sical Logistics and Orient Paper are among companies which are scheduled to report their April-June quarter results today.

8. 40 AM: Last week trade

During the week ended August 14, Sensex and Nifty settled in negative terrain, falling by 163 points and 35 points, respectively.

Six of the 10 most valued domestic firms together lost Rs 78,275 crore in market valuation last week, pulled down largely by heavyweights Reliance Industries Limited (RIL) and Tata Consultancy Services (TCS). RIL, TCS, HDFC Bank, Hindustan Unilever Limited (HUL), Bharti Airtel, and Kotak Mahindra Bank suffered erosion in their market capitalisation (m-cap) during the week. However, Infosys, HDFC, ITC, and ICICI Bank finished with gains.

Six of top-10 firms lose Rs 78,275 crore in m-cap; RIL, TCS hit hard

8. 35 AM: Nifty outlook

Reliance Smartmoney Reserch: In the last week, NSE-NIFTY gained twice out of five trading sessions and reported fall of 0.3%. On Friday, the index slipped below its low of third doji candle of Tri-star pattern (placed at 11,243 level) and given bearish confirmation. Later, the index found support around its 20-day EMA and recovered partial loss. Its major technical indicators are in sell mode. This could drag the index towards 10,840 and 10,740 levels, which coincides with its 200-day SMA and its 50-day EMA, respectively. On the higher side, the index will face hurdle at around 11,435 mark. 

As for the day, support is placed at around 11,071 and then at 10,964 levels, while resistance is observed at 11,326 and then at 11,474 levels.

8. 30 AM: Friday's closing

Domestic benchmark indices erased early gains and ended 1%  lower each on Friday led by selling pressure in auto and banking stocks amid negative global equities. Sensex ended 433 points lower at 37,877 and Nifty fell 122 points to end at 11,178. Yesterday, Sensex ended 59 points lower at 38,310 and Nifty lost 7 points to 11,300.

Sensex ends 433 points lower, Nifty at 11,178; auto, banking stocks lead losses