Sensex Trades 300 Points Higher, Dow Futures Down by 32 Points

Tue, 10 Aug 12:30 pm

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Share markets in India are presently trading on a strong note.

The BSE Sensex is trading up by 312 points, up 0.6%, at 54,714 levels.

Meanwhile, the NSE Nifty is trading up by 80 points

Bharti Airtel and Tech Mahindra are among the top gainers today. Shree Cement and Power Grid Corporation of India are among the top losers today.

The BSE Mid Cap index is trading up by 0.1%.

The BSE Small Cap index is trading down by 0.4%.

On the sectoral front, stocks from the real estate sector are witnessing most of the selling pressure.

On the other hand, stocks from the telecom sector are witnessing most of the buying interest.

US stock futures are trading lower today, indicating a negative opening for Wall Street.

Nasdaq Futures are trading down by 8 points (down 0.1%) while Dow Futures are trading down by 32 points (down 0.1%)

The rupee is trading at 74.22 against the US$.

Gold prices are trading down 0.9% at Rs 46,245 per 10 grams.

Gold prices edged higher in Indian markets today after a sharp selloff in the previous two sessions. Gold edged 0.4% higher to Rs 46,065 per 10 grams.

In global markets, gold prices struggled near multi-month lows, weighed down by a rise in US bond yields and a stronger dollar after robust US jobs data last week raised bets over the Federal Reserve tapering stimulus earlier than expected.

Spot gold was flat at US$ 1,730.5 per ounce. The dollar index was near a two-week high, making gold more expensive for holders of other currencies.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani explains why the yellow metal has been in a down trend, in his latest video for Fast Profits Daily.

Tune in here to find out more:

Moving on to stock-specific news...

Among the buzzing stocks today is Reliance.

Reliance New Energy Solar (RNESL), a wholly-owned subsidiary of Reliance Industries (RIL), has started off the group's new energy plans with an acquisition.

Along with Paulson & Co. Inc and Bill Gates, and a few other investors, it has announced an investment of US$ 144 m in Ambri Inc, an energy storage company based in Massachusetts, US.

The investment will help the company commercialise and grow its long-duration energy storage systems' business globally, RIL said in a statement.

RNESL will invest US$ 50 m to acquire 42.3 m shares of preferred stock in Ambri.

Based on patented technology and designed to last between 4-24 hours, Ambri's long-duration energy storage systems will break through the cost, longevity and safety barriers associated with lithium-ion batteries used in grid-scale stationary storage applications.

They will enable a crucial energy storage solution capable of supporting the increasing amounts of renewable energy being integrated into electric power grids.

RNESL and Ambri are also in discussions for an exclusive collaboration to set up a large-scale battery manufacturing facility in India, which could add scale and further bring down costs for Reliance's green energy initiative.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, Reliance shares were trading up by 1% on the BSE.

Speaking of stocks, here is an illustration of the four phases that a stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these for stages.

This cycle defines everything in markets. If you can master this cycle, then nothing can stop you from making huge profits.

If you're interested to know how a stock's life cycle can offer you the opportunity to make money in every phase, you can read about it in one of the recent editions of Profit Hunter: One Cycle That Defines Everything in the Markets

Moving on to news from the IPO space...

Chemplast Sanmar Mobilises Rs 17.3 bn from Anchor Investors Ahead of IPO

Specialty chemicals manufacturer Chemplast Sanmar on 9 August 2021 garnered Rs 17.3 bn from anchor investors ahead of its initial public offering (IPO) opening.

The company in consultation with book running lead managers and shareholders finalised an allocation of 32 m equity shares to anchor investors at Rs 541 per share.

Some of the marquee investors which participated in the anchor book were Abu Dhabi Investment Authority, CLSA, Goldman Sachs, Nomura, and Societe Generale.

Domestic investors including SBI Mutual Fund, Axis Mutual Fund and Edelweiss also invested in the company.

The company's IPO opens today with a price band of Rs 530-541 per equity share. It will close on 12 August 2021.

Chemplast Sanmar aims to raise Rs 38.5 bn through its public offer. The IPO comprises a fresh issue of Rs 13 bn by the company, and an offer for sale of Rs 24.6 bn by promoters, Sanmar Holdings and Sanmar Engineering Services.

The net proceeds from the fresh issue will be utilised for early redemption of non-convertible debentures (Rs 12.4 bn), besides general corporate purposes.

Chemplast is a specialty chemicals manufacturer in India with a focus on specialty paste PVC (polyvinyl chloride) resin and custom manufacturing of starting materials and intermediates for the pharmaceutical, agro-chemical and fine chemicals sector.

How the IPO sails through remains to be seen. Meanwhile, stay tuned for more updates from this space.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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