intensify Research - Nazara Technologies gains on integrating with ONDC to launch ‘gCommerce’

Nazara Technologies is currently trading at Rs. 898.60, up by 16.60 points or 1.88% from its previous closing of Rs. 882.00 on the BSE.

The scrip opened at Rs. 869.00 and has touched a high and low of Rs. 911.00 and Rs. 869.00 respectively. So far 23884 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 4 has touched a 52 week high of Rs. 1124.15 on 19-Sep-2024 and a 52 week low of Rs. 590.85 on 27-May-2024.

Last one week high and low of the scrip stood at Rs. 966.50 and Rs. 869.00 respectively. The current market cap of the company is Rs. 6869.99 crore.

The promoters holding in the company stood at 10.05%, while Institutions and Non-Institutions held 21.91% and 68.04% respectively.

Nazara Technologies has integrated with Open Network for Digital Commerce (ONDC) to launch ‘gCommerce’ - an innovative in-game monetization platform that seamlessly integrates e-commerce within games.

The integration aims to address a persistent challenge for Indian game developers: low in-app purchase (IAP) conversion rates and poor yields from advertising. Through gCommerce, the company and ONDC Network are reimagining game monetization by leveraging India's thriving e-commerce landscape and providing developers with new, scalable revenue streams.

This strategic integration will allow game developers to monetize through an affiliate revenue-sharing model, earning a commission on every successful transaction initiated by players through the gCommerce platform.

Nazara Technologies is one of the leading mobile games company and it is engaged in acquisition of, value addition and distribution, of mobile games across emerging markets such as India, Middle East, Africa, South East Asia and Latin America.

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Crypto exchange Coinbase faces US SEC probe over cryptocurrency listings

Ever since the platform expanded the number of tokens in which it offers trading, the SEC's scrutiny of Coinbase has increased.

In its complaint, SEC said that crypto tokens AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, and KROM are unregistered securities.

Crypto trading platform Coinbase Global Inc is facing a US Securities and Exchange Commission (SEC) investigation on if it improperly let Americans trade digital assets that should have been registered as securities, Bloomberg News reported on 26 July.

According to details, the SEC's is looking into an alleged insider trading scheme that was revealed last week.

Earlier last week, US prosecutors in Manhattan charged a former product manager at Coinbase and two others with wire fraud in thefirst insider trading case involving cryptocurrency, added the report.

10 Best New Cryptos on Coinbase to be Announced in 2022

Ever since the platform expanded the number of tokens in which it offers trading, the SEC's scrutiny of Coinbase has increased

The SEC on 21 July had alleged that the that cryptocurrency exchange Coinbase listed nine crypto asset securities. In its complaint, SEC said that crypto tokens AMP, RLY, DDX, XYO, RGT, LCX, POWR, DFX, and KROM are unregistered securities.

Meanwhile, Coinbase had disputed the SEC’s allegations. "Coinbase does not list securities on its platform. End of story,"Bitcoin.com quoted Coinbase's chief legal officer Paul Grewal as saying.

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₹102 to ₹8370: Multibagger stock turns ₹1 lakh to ₹82 lakh in 9 years

Multibagger stock: If an investor had invested ₹1 lakh in Tata Elxsi shares 5 years ago, its ₹1 lakh would have turned to ₹9.60 lakh today.

Multibagger stock: In YTD time Tata Elxsi shares have given 42 per cent return whereas IT majors Infosys, TCS and Wipro have given zero return in 2022

Multibagger stock:  

Despite reeling under the slowdown and inflation concerns, some quality stocks have given stellar return to its shareholders. Tata Elxsi share are one such stock. When most of the IT stocks have received heavy beating, this Tata group IT stock has delivered 42 per cent YTD return. However, this is not the first time when Tata Elxsi share price has given whopping return to its shareholders. It is one of the multibagger stocks in India that has been giving stellar return to its shareholders for long. In last 9 years, this multibagger stock has surged from ₹102 to ₹8370 apiece levels, delivering around 8100 per cent return to its positional shareholders.

Tata Elxsi share price history

In last one month, this large-cap stock has surged from ₹7788 to ₹8370 apiece levels, recording near 7.50 per cent rise in this time. In ,last 6 months, this multibagger Tata group stock has risen from around ₹7040 to ₹8370 levels, logging near 19 per cent return in this period. In year-to-date (YTD) time, Tata Elxsi share price has ascended from ₹5890 to ₹8370 apiece levels, clocking around 42 per cent rise in 2022. In last one year, this IT stock has appreciated from around 4250 to ₹8370 levels, logging around 95 per cent rise in this time horizon.

Likewise, in last 5 years, this multibagger stock has shot up from around ₹875 to ₹8370 per share levels, clocking near 860 per cent jump in this time frame. However, in last 9 years, this stock has ascended from ₹102 to ₹8370 levels on NSE, registering near 8100 

per cent appreciation in this period.

Impact on investment

Taking cue from Tata Elxsi share price history, if an investor had invested ₹1 lakh in this stock one month ago, its ₹1 lakh would have turned to ₹1.075 lakh today whereas it would have turned to ₹1.19 lakh in 6 months. In YTD time, this ₹1 lakh would have tuned to ₹1.42 lakh today. If an investor had invested ₹1 lakh in this multibagger stock one year ago and had remained invested in it throughout this last one year, its ₹1 lakh would have become ₹1.95 lakh today.

Likewise, if an investor had invested ₹1 lakh in Tata Elxsi shares 5 years ago, its ₹1 lakh would have turned to ₹9.60 lakh today. Similarly, if an investor had invested ₹1 lakh in this multibagger stock 9 years ago, its ₹1 lakh would have turned to ₹82 lakh today. 

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Rakesh Jhunjhunwala portfolio: These 5 stocks rise up to 23% in one month

 Rakesh Jhunjhunwala stock Federal  Bank has given 23 per cent return in last one month whereas small-cap index has delivered 12 per cent return in this period

These Rakesh Jhunjhunwala portfolio stocks have outperformed Sensex and Nifty in last one month.

Rakesh Jhunjhunwala portfolio:  A big number of retail investors scan portfolio of ace investors to find out value picks. They compare the performance of their stocks and the return given by the key benchmark indices in recent sessions. For such retail investors of the Indian stock market, looking at Rakesh Jhunjhunwala's portfolio stocks might be beneficial. A good number of Rakesh Jhunjhunwala stocks have generated alpha return in last one month.

Here we list out 4 Rakesh Jhunjhunwala stocks that have delivered up to 23 per cent return in last one month:

Federal Bank: The tune of 25 per cent by mid May 2022. However, after the announcement of strong Q1FY23 results, the banking stock has rebounded strongly and climbed to new 52-week high of ₹109.45 apiece levels, paring all the losses it had incurred during the consolidation phase. In last one month, it has surged from around ₹89 to ₹107.50 levels, logging near 23 per cent rise in this time horizon.

Escorts Kubota:  Rakesh Jhunjhunwala added this auto stock in his portfolio during April to June 2022 quarter. In last one year, this tractor maker company's stock delivered sharp upside move till end of November 2021. But, after ushering in December 2021 it started to trade flat and remained sideways till first week of April 2022. From April to June end,, this Rakesh Jhunjhunwala stock remained under sell-off heat. But, in July 2022, Escorts Kubota shares have rebounded strongly giving near 147 per cent return to its shareholders in last one month.

Tata Motors: In last one year, this Rakesh Jhunjhunwala was in uptrend till first fortnight of October 2021. From second fortnight of October 2021, Tata Motors share price started to trade flat and it remained range-bound till February 2022. From March to mid June 2022, Tata Motors stock remained under base building mode. However, in last one month, it has surged to the tune of 15.50 per cent.

Titan Company:Shares of this Tata group company remained sideways from mid-October 2021 to end of March 2022. It started correcting from the last week of March 2022 and went on to nosedive till end of June 2022. However, this Rakesh Jhunjhunwala stock has been in uptrend after ushering in July 2022, delivering 12.50 per cent return to its shareholders.

All these stocks have delivered alpha return in last one month as both Nifty and Sensex have delivered around 7.50 per cent return in last one month. BSE mid-cap index has delivered 11.90 per cent return in this period whereas BSE small-cap index has surged around 12 per cent in this period.

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Trade setup for today, 20th July 2022: Things to know before stock market's Opening Bell today

 Trade setup for Wednesday: In case of any declines, the immediate support for Nifty will be seen around the hourly 20-EMA around 16,220, say experts.

Trade setup for today: NSE has added Delta Corp stock under its F&O ban list for trade date 20th July 2022

Trade setup for today, 20th July 2022: After showing sharp upside move on Monday, both Sensex and Nifty shifted into a choppy movement with positive bias on Tuesday. However, Indian stock market managed to end in green territory for third successive day on Tuesday. Nifty 50 index gained 62 points and finished at 16,340 whereas BSE Sensex added 246 points and finished Tuesday’s session at 54,768 levels. Nifty Bank jumped 1 per cent and closed at 35,720 mark. 

After showing sharp upside move on Monday, both Sensex and Nifty shifted into a choppy movement with positive bias on Tuesday. However, Indian stock market managed to end in green territory for third successive day on Tuesday. Nifty 50 index gained 62 points and finished at 16,340 whereas BSE Sensex added 246 points and finished Tuesday’s session at 54,768 levels. Nifty Bank jumped 1 per cent and closed at 35,720 mark. 

Global cues

On Wall Street, Dow Futures rise as robust earnings pushed positive sentiments. After the end of Tuesday session, Dow Jones ended 2.43 per centhigher whereas tech heavy Nasdaq went up 3.11 per cent. S&P 500 went 2.76 per cent northward while Small Cap 2000 recorded 3.48per cent intraday gain on Tuesday session. But, European shares fell on Tuesday, hit by worries about a hawkish European Central Bank and slowing economic growth. The euro rose to its highest level in about two weeks after news reports that the European Central Bank (ECB) may consider raising interest rates on Thursday by 50 to 75 bps to counter worsening inflation. However, Asian shares were mixed Tuesday, as investors weighed oil prices, inflation worries and corporate earnings.

Asian markets in early morning session   In early morning deals on Wednesday, the Japanese Nikkei is up 2.12 per cent, Hong Kong's Hang Seng is down 0.89 per cent whereas Chinese Shanghai is trading choppy with 0.01 per cent loss.

SGX Nifty technical outlook

SGX Nifty today is quoting 114 points higher from its Tuesday close, indicating a positive opening for the Indian markets when it opens today at 9:15 AM.

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EPFO ​​likely to increase equity investment limit to 20 percent

                A decision may be taken in the EPFO ​​trustee meeting at the end of the month

Retirement fund body EPFO ​​is likely to approve a proposal to increase its investment in equities to 20 per cent from the current limit of 15 per cent this month. According to sources, the proposal will be considered and approved during the meeting of EPFO ​​trustees to be held on July 29 and 30. Currently, EPFO ​​can invest 5 to 15 percent of investable deposits in equity or equity-related schemes.

The proposal to revise the limit to 20 percent has been scrutinized and approved by the Finance Audit and Investment Committee (FAIC), an advisory body of the Employees Provident Fund Organization (EPFO). FAIC's recommendation will be placed before EPFO's highest decision-making body—the Central Board of Trustees (CBT)—for consideration and approval.

The Central Board of Trustees (CBT), headed by the Union Labor Minister, is likely to approve FAIC's recommendation to increase investmentin equity and equity-related schemes from the current 5-15 per cent to 5-20 per cent. In a written reply in the Lok Sabha on Monday, Minister of State for Labor and Employment Rameshwar Teli said, “The sub-committee of FIAC, CBTEPF has recommended a proposal to investment in CBT has reduced the investment pattern for EPF consideration from 5-15 percent to 5-20 percent.

EPFO started investing in Exchange Traded Funds (ETFs) in August 2015 with 5 per cent of its investable deposits in stock-linked products.

The notional return on EPFO's equity-linked investments has increased from 14.67 per cent in 2020-21 to 16.27 per cent in 2021-22 which had been a negative return during Covid. The response also pointed out that the notional rate of return on equity relatedinvestments of EPFO ​​was negative at (-) 8.29 percent in 2019-20 due to the impact of Covid-19.

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Another crypto lender Voyager Digital suspends withdrawals, deposits

Voyager Digital said it is pursuing strategic alternatives and that it’s focused on protecting assets and aximizing value for all customers 

Crypto lender Voyager Digital has suspended withdrawals, trading and deposits to its platform

Crypto lender Voyager Digital has suspended withdrawals, trading and deposits to its platform, due to difficult market conditions, amid a deepening meltdown in beleaguered cryptocurrency markets, and said it is exploring strategic alternatives to preserve the value of its platform. The move comes days after the company issued a default notice to embattled hedge fund Three Arrows Capital (3AC) for the fund's failure to make required payments on a loan.

 The company is seeking protection from creditors in the United States under Chapter 15 of the US Bankruptcy Code, which allows foreign debtors to shield US asset.

Voyager Digital in a series of tweets said that it is pursuing strategic alternatives and that it’s focused on protecting assets and maximizing value for all customers as quickly as possible. It said in a release that it had hired Moelis & Company and the Consello Group as financial advisors, and Kirkland & Ellis LLP as legal advisors "to support is exploration of strategic alternatives."

 A revolving line of credit,gaining access to additional capital to meet its customers' liquidity needs as crypto prices take a hit. In a release, New Jersey-based Voyager said the value of the crypto assets it holds is $685 million, compared with the more than $1.12 billion in crypto assets it had loaned..

The move by Voyager comes less than a month after rival crypto lender Celsius Network suspended withdrawals, citing extreme market conditions. Celsius has not yet opened withdrawals back up for its customers.Voyager said it had lent $350 million and 15,250 bitcoins to 3AC. A person familiar with the matter told Reuters on Wednesday that 3AC has entered liquidation

Bitcoin, the largest and most well-known cryptocurrency, is down 58% in the first six months of 2022, its worst first half of year showing ever. Crypto markets have been under pressure since May with Terra tokens UST and Luna collapsing. The latest casualty in the crypto crash would be Three Arrow Capital (3AC) whose collapse dampened confidence in crypto markets.

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Sensex rallies over 350 points; HDFC, Capital First stocks gain

The Sensex zoomed over 350 points to scale new peak of 34,920 points on the back of positive macro-economic data. Today's gains were led by Bank Nifty, media, metal, FMCG and private bank stocks.

At 11:24 AM, the BSE Sensex was trading at 34,951 up 359 points, while the broader Nifty50 index was ruling at 10,777, up 96 points.

Shares of Butterfly Gandhimathi Appliances were locked in the 5% upper circuit, touching lifetime high, as IDFC Mutual Fund and Standard Chartered Mutual Fund bought stake in the company on Friday.

Shares of Power Grid Corp of India gained 1.5% after the company acquired ERSS XXI Transmission, a special purpose vehicle project, from REC Transmission Projects Co.

The Nifty Bank Index surged 1%, led by gains in index heavyweights ICICI Bank and Axis Bank, which surged 1.3-4%.

The BSE Mid-cap and BSE Small-cap indices were up 0.51% and 0.81%, respectively.

Volatility index India VIX gained 3.96%.

HDFC (+4.4%), ICICI Bank (+3.5%), Tata Steel (+2.3%), Zee (+2.2%) and HPCL (+1.5%) were the top gainers on Nifty50.

Eicher (-1.7%), IndusInd Bank (-0.99%), HCL Tech (-0.83%), ONGC (-0.82%) and Coal India (-0.60%) were the top losers in today’s trade.

Out of 1,954 stocks traded on the NSE, 1,213 advanced, 449 declined and 292 remained unchanged today.

A total of 132 stocks registered a fresh 52-week high in trade today, while five stocks touched a new 52-week low on the NSE.
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Top stocks in focus today: Sun Pharma, Sobha, Jaypee Infratech

Tata Motors' total JLR UK sales down 17.3% at 6,195 units vs. 7,487 units (YoY).

The US Food and Drug Administration is expected to begin inspection of Sun Pharma's manufacturing facility at Halol in the second week of February, as per media reports.

Tata Housing and the Lodha Group have filed initial bids for debt laden realtor and road builder Jaypee Infratech, according to a media report.

NBCC has received contract from Ecotourism Development Corporation of Uttarakhand, Dehradun for construction of Kotdwar-Ramnagar Kandi Road amounting Rs2,000cr.

Sagar Cements' December sales up 65% at 2,54,348 million tonnes vs. 1,54,195 million tonnes on yoy basis.

Sobha’s Q3FY18 new sales volumes at 9,33,365 square feet valued at Rs751cr.

Force Motors' December domestic sales at 1,900 units.

Den Networks has entered into an agreement with cable TV distribution company VBS Digital Distribution Network (VBS) for acquiring 51% stake in VBS for Rs2.6cr.

Visa Steel is in discussion with SBI for settlement after the SBI filed an application with National Company Law Tribunal Kolkata to initiate corporate insolvency resolution process for the company under Insolvency & Bankruptcy Code.

Aban Offshore has offered to pay up to $600 million in a one-time settlement to 17 banks to which it collectively owes nearly $2 billion, as per media reports.

Aegis’ LPG unit allots 2.39 lakh shares to Itochu for a total consideration of Rs239.29cr.

Seamec enters into a charter party with GOPL Offshore for charter hire of vessel Seamec III for $2.4 million.

Venus Remedies to consider details of QIP issue on Jan 8.

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Top stocks in focus today: RCom, Sun Pharma, IDBI Bank

ITC said certain individuals and NGOs have filed petition against high court ruling on cigarette warning.

Glenmark Pharmaceuticals has receives ANDA approval for Norethindrone Acetate and Ethinyl Estradiol Tablets USP and Ferrous Fumarate Tablets, 1 mg/20 mcg.

IDBI Bank to terminate rating engagement with Moody’s for MTN program.

Sun Pharma announces that the USFDA has accepted a New Drug Application (NDA), filed by its wholly owned subsidiary, for OTX-101 (cyclosporine A, ophthalmic solution) 0.09%, a novel nanomicellar formulation of cyclosporine A 0.09% in a clear, preservative-free aqueous solution..

The company announced Offer for sale of Share to eligible employees of NBCC (India) Ltd. The overall pool size of shares available to NBCC's employees under Employee Share Sale would be up to 25,16,013 equity shares of face value of Rs. 2/- each ('Equity Shares').

Reliance Communications announced exit from SDR framework with zero write-offs to lenders.

Apollo Tyres which recently raised Rs1,500cr through a QIP, is looking to partially deploy the resources to develop a new greenfield facility in Andhra Pradesh.

Canara Bank board of the bank decided to raise additional equity capital amounting to Rs90cr through QIP route by issuing Rs9cr equity shares of face value Rs10.

Essar Oilfields commenced drilling contract with Mercator Petroleum.

Ortel Communication will transfer its broadband business to its new subsidiary Ortel Broadband Ltd.

Dr.Reddy’s has launched Melphalan Hydrochloride for Injection, a therapeutic equivalent generic version of Alkeran (melphalan hydrochloride) for Injection used in the treatment of certain types of cancer and approved in the US market by the USFDA, as per media reports.

Jindal Steel completed 250 tonne basic oxygen furnace at its Odisha plant.

Srikalahasthi Pipes QIP closed with the issue price fixed at Rs360.5.

Punjab & Sind Bank board of directors has approved raising of equity capital through public issue/ right issue/ QIPs/ preferential issue or any other mode or a combination(s) thereof in one or more tranches up to March 31, 2019.

Prestige Estates will acquire 66.6% in Prestige Projects for Rs324cr.

Yes Bank acquired 5.62% in One Point One Solution as an anchor investor.

Sushmita Kacholia sold 1.28 lakh shares or 0.8% stake at Rs75.53 each of Lokesh Machines.

Asia Investment Corp Mauritius bought 3.74 lakh shares or 1.7% stake at Rs300 each of Vishal Fabrics.

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Sensex, Nifty remain firm; Maruti Suzuki stock up 2%

Benchmark indices rose for a fourth straight session after BJP secured victories in two key state elections, raising optimism over future reform initiatives. The Sensex rising more than 100 points, following positive global cues.

Global equity markets rose on the likely passage of the corporate tax cut bill as early as this week.

At 10:39 AM, the BSE Sensex was trading at 33,703, up 101 points, while the Nifty50 was ruling at 10,417, up 28 points.

Shares of Bharti Airtel dropped after the company said it has entered into an agreement with Millicom International Cellular S.A. to acquire 100% stake in the latter's Rwandan arm Tigo Rwanda.

Shares of De Nora India rose 6% after the company, post market hours on Monday, said it has won orders worth Rs120mn from Bharat Heavy Electricals.

Shares of Kridhan gained 9% after investment fund of the Government of Singapore, GIC, bought 1.2% stake in the company on Monday through a bulk deal on the BSE.

The BSE Midcap Index gained 0.66% and the BSE Smallcap Index rises 0.92%.

Telecom is the top loser on the BSE, while Consumer Durables, Auto, Metal, Industrial, FMCG and Banking were the top gainers.

UPL (+3.2%), Eicher Motors (+2%), Tata Motors (+1.5%), Aurobindo (+1.4%) and Coal India (+1%) were the top gainers on the Nifty50.

GAIL (-1.2%), HCL Tech (-0.73%), Bharti Airtel (-0.69%), Bajaj Finance (-0.67%) and Infosys (-0.40%) were the top losers in today’s trade.

India VIX dropped 3.01%.

Out of 1,979 stocks traded on the NSE, 1,224 advanced, 324 declined and 431 remained unchanged today.

A total of 51 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

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D-Street shines on exit poll predictions; Nifty above 10350 mark

Benchmark indices extended gains for the second day after exit polls released late on Thursday indicated that Bharatiya Janata Party is expected to win Gujarat and Himachal Pradesh assembly elections.

At 9:48 AM, the BSE Sensex was trading at 33,595, up 348 points, while the Nifty50 index was ruling at 10,362, up 111 points

In broader markets, both BSE Midcap and BSE Smallcap indices gained 1% each

Shares of GMR Infrastructure rose 2.4% after the company said that a consortium led by GMR Group has emerged as a preferred bidder for a project to develop the Clark International Airport in The Philippines.

All sectoral indices on the NSE were in the green led by Nifty Metal, Nifty Infrastructure index that rose 1.2-1.6%.

Vedanta (+3.3%), HDFC Bank (+2.6%), Yes Bank (+2.1%), Hindalco (+2%) and GAIL (+1.9%) were the top gainers on the Nifty50.

Tech Mahindra (-0.84%), UltraTech (-0.19%), Wipro (-0.14%), Power Grid (-0.02%) and TCS (-0.01%) were the top losers in today’s trade.

India VIX fell 13.48%.

Out of 1,977 stocks traded on the NSE, 1,335 advanced, 241 declined and 401 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trade today, while 12 stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee scaled a fresh 3-month high of 64.12 against the dollar in early trade on Friday. The currency opened 19 paise up at 64.15 against the dollar on Friday.

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Nifty slips below 10,300 ahead of Nov WPI data

Benchmark indices opened on a negative note tracking weak cues from other Asian equities and on account of investors booking profits ahead of the release of key economic data later today.

Banking stocks were trading down led by losses in Bank of Baroda, ICICI Bank and State Bank of India. 

At 9:51 AM, the Nifty50 Index was down 27 points or 0.26% at 10,295 points, and the BSE Sensex was at 33,383, down 0.22%.

Shares of Dr.Reddy's Laboratories jumped 4.1% after the US Food and Drug Administration cleared the company's unit-3 in Hyderabad.

Shares of Oil & Natural Gas Corp rose 1.2% after the global crude oil prices hit their highest level since 2015 overnight.

The broader markets were also trading on a subdued note with the BSE MidCap Index and S&P BSE SmallCap Index edging marginally lower.

On the sectoral front, Metal, Pharma, Media and Auto were the top gainers, while Pvt Banking, FMCG, PSU Bank, and Realty Index were the top losers on the NSE.

Dr.Reddy’s (+4%), Vedanta (+2.7%), GAIL (+2.3%),Hindalco (+1.9%) and ONGC (+1.87%) were the top gainers on the Nifty50.

HPCL (-2.3%), Asian Paints (-1.94%), BPCL (-1.9%), IOC (-1.8%), Eicher (-1.6%) were the top losers in today’s trade.

India VIX gained 1.78%.

Out of 1,974 stocks traded on the NSE, 716 advanced, 839 declined and 419 remained unchanged today.

A total of 52 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee opened higher at 64.41 per dollar against yesterday's close of 64.46.
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Nifty reclaims 10,100 mark; Metal, PSU Bank Indices lead

Domestic benchmark indices opened higher today led by gains in shares of banks, energy and automobiles company, and on positive cues from Asian markets.

At 10 AM, the Sensex jumped 181 points or 0.65% at 32,778 while the NSE Nifty gained 58 points or 0.55% to 10,102.

The BSE Midcap index and BSE Smallcap index was up by 0.8%. Both these indices outperformed the Sensex.

All sectoral indices on the NSE were trading in the green.

GAIL (+2.7%), Tech Mahindra (+2.1%), Bosch (+2%), Aurobindo Pharma (+1.8%) and Tata Steel (+1.4%) were the top gainers on Nifty50.

HCL Tech (-0.3%), Sun Pharma (-0.1%), Wipro (-0.04%), TCS (-0.03%) and HDFC Bank (-0.01%) were the top losers in today’s trade.

India VIX dropped 1.64%.

Out of 1,975 stocks traded on the NSE, 1294 advanced, 316 declined and 410 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

IDBI Bank was up 1.28%. The bank said that its board of directors has approved the d sale of 27.99 lakh equity shares of National Securities Depository (NSDL), constituting 7% of its total paid up equity capital, held by IDBI Bank.

Hatsun Agro Product was up 2.28%. The company said that the board of directors of the company has considered and approved raising funds for the company by way of issue of securities to the existing equity shareholders of the company on a rights basis aggregating up to Rs900cr.

IRB Infrastructure Developers fell 4% today as the Central Bureau of Investigation has filed a charge sheet with a Pune court against its arm for alleged illegal purchase of government land.

Asian shares hovered near two-month lows as softer oil and copper prices and uncertainty over US policy kept many investors on the sidelines, even as some high-tech bellwethers bounced back after a searing sell-off.

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Sensex, Nifty open weak ahead of RBI policy; metal stocks drag

Benchmark indices opened lower today as caution prevailed ahead of RBI's monetary policy review outcome and on weak cues from the global markets.

Nifty was weighed down by losses in the metal and commodity companies following a sharp decline in the global copper prices. The Nifty Metal and Nifty Commodity index were down 1.7% and 0.6% respectively.

At 9:48 AM, the Nifty 50 was at 10,102, down 17 points or 0.16% from the previous close. The BSE Sensex was at 32,753, down 50 points or 0.15%.

The BSE Midcap index was down 0.61%, while the BSE Smallcap index remained unchanged.

Shares of Shilpa Medicare were down 4% as the USFDA issued 10 observations to the company's Telangana unit.

Shares of Dish TV fell over 1% after the company posted a consolidated loss for Jul-Sep as against net profit a year ago.

Tech Mahindra (+1%), Reliance Ind (+1%), Infosys (+1%), Kotak Mahindra Bank (+1%) and Zee Ent (+0.69%) were the top gainers on Nifty 50.

Hindalco (-2.5%), Vedanta, Tata Steel (-2%), Bajaj Auto (-1.2%) and Eicher (-1.1%) were the top losers in today’s trade.

India VIX dropped 0.51%.

Out of 1,971 stocks traded on the NSE, 902 advanced, 663 declined, and 436 remained unchanged today.

A total of 39 stocks registered a fresh 52-week high in trade today, while 15 stocks touched a new 52-week low on the NSE.

Meanwhile, the Indian rupee opened lower at 64.43 per dollar against Tuesday’s close of 64.38.

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Nifty slips below 10,150; Infosys, Tata Motors up 2%

Indian equity benchmarks moved higher led by gains in Infosys. However, the market gave up early gains as Reliance Industries, L&T and Sun Pharma came under selling pressure.  

At 10:06 AM, BSE Sensex was up 44 points to 32,872 and the NSE Nifty50 Index up by 7 points to 10,129.  

The BSE Mid-cap Index and BSE Small-cap Index are trading lower at 16,688 and 17,918 respectively.  

Some buying was seen in IT and Tele Communications, while power, capital goods, utilities, FMCG, banking and consumer durables showed weakness on the BSE.  

Infosys, Tata Motors, Indiabulls HF, ONGC and Bharti Airtel gained the most on Nifty50.  

Adani Ports, HPCL, Wipro, Bajaj Finance and Sun Pharma were the top losers.  

India VIX rises by 2.60% at 15.18 level.  

Out of 1,989 stocks traded on the NSE, 623 advanced, 915 declined, and 451 remained unchanged today.  

A total of 35 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.  

Meanwhile, the Indian rupee opened little changed against the US dollar ahead of the key Reserve Bank of India’s monetary policy review.  

Among stocks, Biocon surged 10% as the USFDA approved Mylan and Biocon's Ogivri, the first biosimilar for Trastuzumab, for the Treatment of HER2-Positive breast and gastric cancers.  

Shares of Dr. Reddy's Laboratories rose over 1% after the US FDA cleared the company's pharmaceutical services facility at Miyapur near Hyderabad.  

Shares of Infosys gained 3% after the company on Saturday appointed Salil S. Parekh as the chief executive officer and the managing director of the company, starting Jan 2.

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