Investors should adjust for price levels, use a wider basket of trading peers than the closely-followed US Dollar Index and remember how much the currency had previously risen, in order to put its move in proper context.
The Dow Jones Industrial Average rose 170.20 points, or 0.61%, at the open to 27,961.64. The S&P 500 opened higher by 9.87 points, or 0.29%, at 3,370.34, while the Nasdaq Composite dropped 25.70 points, or 0.23%, to 10,942.66 at the opening bell.
This is the highest any Indian company has been ranked on the Fortune Global 500 list. Reliance had broken into the top 100 in 2012 ranking when it was ranked 99th but slipped in subsequent years to rank 215th in 2016. Since then it has risen steadily, according to the ranking.
The company raised Rs 300 crore by allocating 38 lakh shares at Rs 784 per share.
Minor correction likely in benchmark indices: Rahul Sharma, Equity99 Advisors
Hopes of new Covid-19 vaccine developed by Russia lifted market sentiments today. Strong buying was seen in private sector banking stocks along with financial services and metal stocks. While pharma and sugar, stocks witnessed profit-booking at higher levels. After a sharp rally in the last few days, we expect a minor correction in benchmark indices before the rally resumes. With US election now approaching, global clues will dominate market sentiments
This is how the 30-pack Sensex fared in today's session. It touched a high of 38,556.27 and a low of 38,313.06 to finally settle at 38,407.01
CLOSING BELL: Private banks, ITC lift Sensex 225 pts higher; Nifty gains for 6th day in a row, up 0.5%; Axis Bank rises 4%, IndusInd 2%
HDFC twins, ITC and RIL lead the market rally
22 of 30 Sensex stocks end the day in the green
Index contributors: HDFC Bank, HDFC, ITC RIL, Axis Bank
Top Index gainers: Axis Bank (3.96%), IndusInd Bank (2.48%), ITC (2.31%)
Top Index losers: Titan (3.50%), Bharti Airtel (1.13%), HCL Tech (1.11%)
S&P BSE METAL biggest sectoral gainer, up 1.50%
S&P BSE Telecom biggest sectoral loser, down 1.46%
Volume toppers: RIL, ICICI Bank, ITC, TechM, HDFC Bank
Forex Center: This is how the major currencies are faring against each other
A recently listed name in the market, the stock has shown good trends post listing. The largely sideways price action of the past several days indicates that profit taking has been absorbed and now the fresh upward thrust promises more gains ahead.
BSE join hands with bullion trade associations to deepen commodity derivatives market
Leading stock exchange BSE on Tuesday said it has joined hands with two bullion trade associations for deepening the commodity derivatives market in the country. BSE has signed a Memorandum of Understanding (MoU) with Akola Sarafa Association and Akola Sarafa Va Suvarnakar Yuva Sangh in this regard.
Motherson Sumi Systems on Tuesday posted a consolidated net loss of Rs 1,191.65 crore for the June quarter as the business activity was badly hit by Covid-19 pandemic. An ET NOW poll of analysts had projected the figure at Rs 540 crore. The auto ancillary firm had reported a profit of Rs 360.64 crore in the same period last year. Consolidated revenue declined 49.49 per cent YoY to Rs 8,431.23 crore.
Only 3 realty stocks trade in the red
Price as on 11 Aug, 2020 01:11 PM, Click on company names for their live prices.
NSE benchmark Nifty50 might be seeing selling at higher levels, but at least 230 stocks are showing strong bullish bias on the moving average convergence divergence, or MACD, charts. The momentum indicator signalled bullish crossovers — a sign of bullish undertone — on these counters, hinting at possible upsides in the days ahead.
Sensex cuts gains, trades 180 points higher in afternoon session
Here are the top gainers in the metals space
Price as on 11 Aug, 2020 11:59 AM, Click on company names for their live prices.
Axis Bank raises Rs 10,000 cr via allotment of equity shares to QIBs
Private sector lender Axis Bank on Tuesday said it has raised Rs 10,000 crore through allotment of equity shares to qualified institutional buyers (QIB). Last week, Axis Bank had set a floor price of Rs 442.19 per equity share for its proposed Rs 15,000-crore qualified institutional placement (QIP).
BSE Healthcare takes a breather after yesterday's stellar rally, falls 0.60%
I-Sec maintains BUY rating on Balrampur Chini; TP at Rs 190
BCML is the most efficient sugar company with sustainable earnings & strong cash flows. The company has optimum distillery capacity to divert 65% of its sugarcane to produce B heavy ethanol. This would result in sufficient sacrifice of sugar to keep inventory at comfortable levels (one to two moths) before the season starts. We estimate the company would generate Rs 697 crore & Rs 787 crore operating cash flow in FY21E & FY22E, respectively. We value the stock 1.5x FY21E price to book with a revised target price of Rs 190/share and maintain BUY recommendation.
JUST IN: Minda Industries to issue 1 rights share for 27 held; issue price set at Rs 250 per share: Agencies
India's edible oil demand recovers
Sales of cooking oils have recovered significantly and are likely to reach pre-Covid levels in four to six months, industry executives said. Average monthly sales had fallen sharply from 1.9 to 2 million tonnes before the pandemic. The market improved in July, said BV Mehta, executive director of Solvent Extractors' Association of India.
India inflation likely edged up in July on higher food prices: Poll
India's retail inflation edged up slightly in July due to higher food prices, remaining firmly above the RBI's medium-term target of 4% for a 10th straight month, a Reuters poll showed. The August 6-10 Reuters poll of over 45 economists showed Indian retail inflation rose to 6.15% last month from 6.09% in June.
Telecom stocks rise up to 7%; Voda Idea top gainer
Price as on 11 Aug, 2020 10:00 AM, Click on company names for their live prices.
Podcast: What might move & shake your market
Voda Idea, YES Bank, BoB among most active stocks on NSE
Price as on 11 Aug, 2020 09:26 AM, Click on company names for their live prices.
Nifty futures on the Singapore Exchange traded 18.50 points, or 0.16 per cent higher at 11,337.50, in signs that Dalal Street was headed for a positive start on Tuesday.
Q1 results today
Bosch, Motherson Sumi Systems, Metropolis Healthcare, Bajaj Electricals, Symphony, Shriram City Union Finance, Chalet Hotels, KRBL, Galaxy Surfactants, AIA Engineering, Central Bank of India and Oracle Financial Services Software are among companies which will announce their fourth quarter results on Tuesday.
Tech View: Nifty forms a Gravestone Doji candle
Nifty50 breached its crucial resistance at 10,250 level on a closing basis, but saw intraday profit booking near its previous swing high of 11,341. The index saw a small bearish candle on the daily chart, with a large upper wick, as it settled near where it had opened. The chart resembled an indecisive Gravestone Doji. Analysts said support for the index is shifting higher, but confidence in the market is missing at higher levels.
Oil firms on U.S. stimulus hopes, Asian demand recovery
Crude oil gained more ground on Tuesday, with prices underpinned by expectations of U.S. stimulus and a rebound in Asian demand as economies reopen. Brent crude added 7 cents, or 0.2%, to $45.06 a barrel, as of 0027 GMT. West Texas Intermediate U.S. crude rose 14 cents, or 0.3%, to $42.08 a barrel.
Hong Kong, China stocks rise in early trade
Hong Kong shares opened on the front foot Tuesday following recent losses, with investors keeping tabs on China-US tensions after Beijing imposed sanctions on 11 Americans in retaliation for a similar move by Washington last week. The Hang Seng Index climbed 1.17 percent, or 284.61 points, to 24,662.04. The benchmark Shanghai Composite Index was flat, inching up 0.24 points to 3,379.49, while the Shenzhen Composite Index on China's second exchange edged up 0.07 percent, or 1.53 points, to 2,278.95.
Japan stocks open higher
Tokyo stocks opened higher on Tuesday following gains on Wall Street, as Japanese markets resumed trade after a long weekend. The benchmark Nikkei 225 index climbed 0.79 percent, or 175.57 points, to 22,505.51 in early trade, while the broader Topix index rose 0.92 percent, or 14.26 points, to 1,561.00.
US stocks ended mixed
Wall Street's major averages ended mixed as investors eyed fiscal stimulus in the United States amid the COVID-19 crisis.On Monday, the Dow Jones Industrial Average increased 357.96 points, or 1.30 per cent, to 27,791.44. The S&P 500 was up 9.19 points, or 0.27 per cent, to 3,360.47. The Nasdaq Composite Index slipped 42.63 points, or 0.39 per cent, to 10,968.36.
Rupee rises by 3 paise to 74.90 against dollar
The rupee rose by 3 paise to settle at 74.90 against US dollar on Monday tracking positive domestic equities. The rupee traded in a narrow range as positive domestic equities and foreign fund inflows supported the rupee while strong US dollar and rise in crude oil prices weighed on the local unit, forex traders said.
Sensex, Nifty on Monday
The BSE Sensex notched up gains for the third straight session on Monday, bouyed by engineering, finance and pharma stocks amid positive cues from global markets. After rallying 390.12 points during the day, the 30-share BSE benchmark pared some gains to end 141.51 points or 0.37 per cent higher at 38,182.08. Similarly, the NSE Nifty climbed 56.10 points or 0.50 per cent to close at 11,270.15.
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