Sensex Hits Fresh Record-High, Dow Futures Trade Flat

Wed, 25 Aug 12:30 pm

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Share markets in India are presently trading marginally higher.

The BSE Sensex is trading up by 114 points, up 0.2%, at 56,073 levels.

Meanwhile, the NSE Nifty is trading up by 53 points.

Tata Motors and HDFC Life are among the top gainers today. Bajaj Finserv and Titan are among the top losers today.

The BSE Mid Cap index is trading up by 0.5%

The BSE Small Cap index is trading up by 0.8%.

On the sectoral front, stocks from the energy sector are witnessing most of the buying interest.

On the other hand, stocks from the telecom sector are witnessing most of the selling pressure.

US stock futures are trading mixed today.

Nasdaq Futures are trading up by 8 points (up 0.1%) while Dow Futures are trading down by 9 points (flat).

The rupee is trading at 74.27 against the US$.

Gold prices are trading down 0.5% at Rs 47,393 per 10 grams.

Gold prices fell sharply in Indian markets today after a run-up over the past few sessions. On MCX, gold futures fell 0.6% to Rs 47,360 per 10 grams after rising for four days. In the previous session, gold had ended flat.

In global markets, gold prices fell today as the US dollar inched higher. Spot gold fell 0.4% to US$ 1,796 per ounce.

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 market, Brijesh Bhatia, Research Analyst at Fast Profits Report, shares a simple way to help you decide between intraday trading and swing trading, in his latest video for Fast Profits Daily.

Moving on to stock-specific news...

Among the buzzing stocks today is Adani Ports & SEZ.

Adani Ports & SEZ share price rose over 2% on the BSE in early trade today after the company received approval from the Andhra Pradesh government for acquiring a 10.4% stake in Gangavaram Port.

In an exchange filing, Adani Ports said,

• The company has received a letter/order from the Andhra Pradesh Maritime Board dated 23 August 2021 intimating the approval of the acquisition of a 10.4% stake in GPL.
  
  The acquisition is in line with company's strategy of east coast to west coast parity and will provide an access to growth from new hinterland markets as it has coverage in resource-rich and industrial belt in eastern, central & southern India.

The consideration of the deal is Rs 6.5 bn, and the transaction is expected to be completed within a month.

The acquisition is subject to approvals under applicable laws, including approval of the Competition Commission of India.

Gangavaram Port is engaged in the business of handling various types of dry bulk and break bulk cargo.

The company handled 32.8 MMT (million metric tonnes) of cargo in the financial year 2021. It has a capacity of 64 MMT.

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

At the time of writing, Adani Ports & SEZ shares were trading up by 2.9% on the BSE.

Moving on to news from the telecom sector...

Bharti Airtel Gets a Three-Week Reprieve in AGR Case

The Supreme Court has asked the Department of Telecommunications (DoT) to not invoke any bank guarantees of Bharti Airtel for the next three weeks.

The direction comes after the DoT sent a letter to Bharti Airtel on 17 August asking it to clear Videocon Telecommunications' dues from the adjusted gross revenue (AGR) case as per the court's directions within a week.

The letter also added that a failure will result in the DoT invoking the bank guarantees submitted by Bharti Airtel.

The issue is a fallout of the Supreme Court's October 2019 ruling that non-core revenue must be included while calculating statutory levies. In September last year, the apex court had given telecom operators ten years to pay their AGR dues.

Bharti Airtel had struck a spectrum-trading agreement with Videocon in March 2016. And it bought the entire spectrum of Videocon Telecommunications. And so, the DoT moved to recover Videocon's dues from Bharti Airtel.

Bharti Airtel filed an application before the top court questioning the government's demand. The bank guarantees, the company said, were submitted for securing license fees and the other statutory dues.

It argued on Monday that as per the Supreme Court's judgment of September 2020, it's the seller's responsibility to clear the liabilities which were known on the date of the agreement.

In this case, AGR dues were known liabilities and therefore should be cleared by Videocon.

The application was heard by the top court bench of Justices L Nageswara Rao and S Abdul Nazeer and MR Shah. The bench observed that it was not going into the merits of the case and asked the government to not invoke any of the bank guarantees for three weeks.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

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

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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Indian Share Market Update: Top Gainers and Losers