Sensex Hits 55,000 Mark, Nifty Above 16,400; HDFC & ICICI Bank Top Gainers

Fri, 13 Aug 09:30 am

   Previous Close   

   Pre-Open   

   SGX Nifty   

   12:30 pm   

   Closing   

Asian share markets opened lower today as investors weighed gains on Wall Street with worries over rising coronavirus infections in Japan and other countries.

The Hang Seng is down 0.9% while the Shanghai Composite is trading lower by 0.3%. The Nikkei is up 0.1%.

Overnight, Wall Street indices finished at fresh records yet again as data showed an uptick in wholesale prices.

This data added to expectations the Federal Reserve will shift course and pull back on its stimulus efforts, starting with a slowdown in the pace of bond buying.

The Dow Jones Industrial Average ended on a flat note, up 0.1%. Meanwhile, the Nasdaq climbed 0.4%.

Back home, Indian share markets have opened on a positive note.

Burger King India, Grasim Industries, Hindustan Aeronautics, ONGC, and SpiceJet are among companies slated to report their quarterly results today.

Meanwhile, Easy Trip Planners, Future Retail, and Vodafone Idea will report their results on Saturday.

The BSE Sensex is trading up by 221 points. Meanwhile, the NSE Nifty is trading higher by 66 points.

The Sensex rose as much as 240 points to touch 55,000 mark for the first time.

HDFC and M&M are among the top gainers today. Tech Mahindra, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.1% and 0.4%, respectively.

Barring metal, all sectoral indices are trading in green with stocks in the finance sector and capital goods sector witnessing most of the buying.

Shares of Infosys and Tejas Networks hit their 52-week highs today.

The rupee is trading at 74.26 against the US$.

Gold prices are trading down by 0.1% at Rs 46,365 per 10 grams.

Meanwhile, silver prices are trading down by 1.4% at Rs 61,880 per kg.

With the highest gold purchase on a half-yearly basis, the Reserve Bank of India's (RBI) gold reserves, in proportion of its forex reserves, has crossed 700 tonnes for the first time.

The central bank purchased a record 29 tonnes of gold, as part of its forex reserves, in the first half of calendar year 2021, as per a report.

This takes the RBI's total gold reserves to 705.6 tonnes, as of 30 June 2021.

This marks a nearly 27% surge in the past two years. The gold holding of the RBI, at the start of 2018, stood at 558.1 tonnes.

Crude oil prices fell for a second day today after the IEA warned that demand growth for crude and its products had slowed sharply as surging cases of Covid-19 worldwide have forced governments to revive restrictions on movement.

Speaking of stock markets, in his latest video, Co-head of Research at Equitymaster Rahul Shah discusses how you can find multibagger stocks by taking minimum risk.

Tune in to the below video to find out more:

In news from the telecom sector, Vodafone Idea is among the top buzzing stocks today.

Vodafone Idea (Vi) has said it is a "travesty of justice" and "inconceivable" that the Supreme Court (SC) has not allowed errors in adjusted gross revenue (AGR) calculations to be corrected, a ruling which will cost the cash-strapped telco around Rs 250 bn and force it to shut down.

In its petition filed on Tuesday to review the 23 July order of the court not allowing correction of alleged errors in the telecom department's AGR calculations, Vodafone Idea said it had no intentions to wriggle out from paying its AGR dues as mandated by the court.

But if arithmetical mistakes are not allowed to be corrected, then it will have to shut shop, leaving nearly 280 m subscribers, some 20,000 direct and indirect employees, banks and retailers high and dry, with even the government getting affected.

Vodafone's review petition was filed within weeks of SC rejecting its earlier appeal to look into alleged arithmetical errors made by the DoT, thus confirming the AGR dues at Rs 582.5 bn, of which it has paid Rs 78.5 bn.

The company had said there was double counting by the telecom department and some of the payments made were not included.

Vodafone's own calculations put the AGR dues at Rs 215.3 bn, which was disallowed by the top court.

Vodafone Idea share price has opened the day up by 0.3%.

Moving on to news from the FMCG sector, the Indian FMCG industry recorded a 36.9% value-based growth in April-June 2021, the quarter hit by the second wave of the pandemic, over the corresponding period a year ago.

If compared with this year's January-March quarter performance, the industry saw a 2% drop, a report by analytics firm Nielsen has noted.

Ecommerce grew in the double-digit in the April-June quarter and traditional trade channels like grocers and chemists remained buoyant in the quarter.

Indian FMCG companies were largely immune to the second wave of the Covid pandemic.

In the comparative April-June quarter last year, the market faced a nationwide lockdown imposed by the government to tackle the spread of Covid-19 and then subsequent easing of restrictions happened in phases.

During the quarter, as the supply chain was facing constraints, retailers continue to respond with evolved and optimised stocking behaviour.

Two trends were observed in terms of the retail stocking - expansion of assortment width and assortment depth (number of variants and associated quantities in stock) is being optimized.

This signifies that retail shelf space is getting more competitive and the call for action for manufacturers is to identify the right variants, by markets, and finding optimum frequency for servicing retail outlets.

The growth momentum did not see any major setback with the sudden onset of second wave. When indexed to pre-covid times, the industry largely continued to remain at similar levels, the report added.

Speaking of the FMCG sector, have a look at the chart below which shows the performance of BSE Sensex and BSE FMCG index since 2009:

While the Sensex has offered 393% returns since 2009, the BSE FMCG index has gone up a staggering 532% returns over the same period.

Richa Agarwal, Senior Research Analyst at Equitymaster, and Editor of the smallcap service, Hidden Treasure, believes this outperformance could continue for many years.

As per Richa, with a rising population and standards of living, Indian's consumption demand for FMCG products will skyrocket over the coming years.

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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers