Sensex Opens Flat Tracking Mixed Global Cues; Titan & ONGC Gain 3%

Wed, 15 Sep 09:30 am

   Previous Close   

   12:30 pm   

   Closing   

Asian share markets opened lower today as investors sought to lock in profits after recent rallies. The overnight fall on Wall Street also dampened sentiment.

The Hang Seng is down 1%, while the Shanghai Composite is trading up by 0.3%. Japan's Nikkei is down 0.6%.

In US stock markets, Wall Street fell on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.

The Dow Jones Industrial Average fell 0.8% while the Nasdaq lost 0.5%.

Back home, Indian share markets have opened on a flat note, following the trend on SGX Nifty.

The BSE Sensex is trading up by 132 points. Meanwhile, the NSE Nifty is trading higher by 34 points.

Titan and Bharti Airtel are among the top gainers today. Axis Bank, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.6%. The BSE Small Cap index is trading higher by 0.5%.

Barring banking, all sectoral indices are trading in green with stocks in the telecom sector and consumer durables sector witnessing most of the buying.

Shares of Ipca Labs and Zee Entertainment hit their 52-week highs today.

The rupee is trading at 73.69 against the US$.

Gold prices are trading down by 0.1% at Rs 47,246 per 10 grams.

Meanwhile, silver prices are trading down by 0.2% at Rs 63,440 per kg.

Crude oil prices climbed today after industry data showed a larger than expected drawdown in crude oil stocks in the US, and on expectations that demand will recover as vaccine roll-outs widen.

Speaking of stock markets, Brijesh Bhatia shares his proven proprietary trading system to make regular monthly income, in his latest video for Fast Profits Daily.

With this system, you could potentially generate tens of thousands of rupees month after month.

Want to know more? Tune in to the video below to find out:

In latest developments from the IPO space, the initial public offer (IPO) of auto component maker Sansera Engineering was subscribed 53% on the first day of subscription on Tuesday.

The issue received bids for 6.4 m shares against 12.1 m shares on offer.

The category for qualified institutional buyers (QIBs) was subscribed 29%, while non-institutional investors 7% and retail investors 87%.

The total issue is of 17.24 m equity shares as the company has already mopped up Rs 3.8 bn from anchor investors.

The price band for the offer is Rs 734-744 per share.

At the upper end of the price band, the initial share sale is expected to garner Rs 12.8 bn.

This is Sansera Engineering's second attempt to go public. Earlier, the company had filed IPO papers in August 2018 and also received clearance to float the public issue. However, it did not go ahead with the launch.

To know more, check out our article on Sansera Engineering IPO.

In other news, the IPO of Paras Defence and Space Technologies will open for subscription on 21 September.

The IPO comprises a fresh issue of equity shares worth Rs 1.4 bn and an offer for sale (OFS) of up to 1.72 m shares by promoters and existing shareholders.

The Mumbai-based firm, which focuses on defence and space optics, defence electronics, electromagnetic pulse protection solution, and heavy engineering, intends to utilize the net proceeds of the IPO to purchase machinery and equipment, fund incremental working capital requirements, repay debt and for general corporate purposes.

The company caters to defence PSUs such as Bharat Electronics, Bharat Dynamics and Hindustan Aeronautics.

It operates manufacturing units in Navi Mumbai and Thane. It also has clients in Belgium, Israel and South Korea.

How this IPO sails through remains to be seen.

Moving on to stock specific news, Vodafone Idea is among the top buzzing stocks today.

As per a leading financial daily, the government is open to picking up a stake in Vodafone Idea by converting a part of the dues the company owes as part of the Centre's efforts to retain investors' confidence.

Here's an excerpt from the article:

The government may also keep the option of converting more of those dues into equity after four years, subject to conditions.

A decision could be taken by the Cabinet on Wednesday, but there's no certainty.

As of June 2021, the loss-making telco has total gross debt of Rs 1.92 lakh crore, comprising deferred spectrum payment obligations of Rs 1.06 lakh crore and AGR liability of Rs 621.8 bn that are due to the government and Rs 234 bn to banks and financial institutions.

The quantum of the token stake and whether it would be in the form of equity shares or any other instrument is yet to be decided.

A person aware of the matter said there will be no infusion of funds from the government, only some of the dues which the company owes could be converted into the government's stake.

Note that despite trying for nearly a year, Vodafone Idea has failed to conclude its planned Rs 250-bn fundraising plan.

In June, Aditya Birla group chairman Kumar Mangalam Birla had written to the government that the telco won't survive unless the government provided some relief, and had even offered to give up the group's stake of 27.66% to a state-owned entity.

He resigned as the chairman of the telco in early August and was replaced by Himanshu Kapania.

Markets are expecting that the government will provide some relief in today's meeting. Owing to this, shares of the company had gained 9% yesterday.

Today, Vodafone Idea share price has opened up by 0.8%.

Speaking of Vodafone Idea, note that the company is among the biggest wealth destroyers in the past five years.

To know more, check out Vodafone Idea's latest shareholding pattern.

And 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