LIC Stake Sale, WPI Inflation in October, and Top Buzzing Stocks Today

Wed, 18 Nov Pre-Open

   Previous Close   

   09:30 am   

   12:30 pm   

   Closing   

Indian share markets witnessed positive trading activity and ended at fresh record highs yesterday.

Extending a record-breaking spree, benchmark indices registered sharp gains as global stock markets rose with investors cheering the news of another promising coronavirus vaccine and optimism about world recovery.

Moderna became the second drug maker after Pfizer to announce promising trial data in the development of a Covid-19 vaccine.

At the closing bell yesterday, the BSE Sensex stood higher by 315 points (up 0.7%).

The NSE Nifty closed higher by 94 points (up 0.7%).

Tata Steel and SBI were among the top gainers.

The BSE Mid Cap index ended up by 1.1%. The BSE Small Cap index ended up by 0.9%.

On the sectoral front, gains were largely seen in the metal sector and finance sector.

Oil & gas stocks, on the other hand, witnessed selling pressure.

Gold prices were trading up by 0.1% at Rs 50,862 per 10 grams at the time of closing stock market hours yesterday.

Last week, gold prices fell about Rs 1,200 tracking a similar trend in overseas markets as optimism over Covid-19 vaccine put pressure on gold prices.

To know more about gold, you can check out our detailed article on investing in gold here: How to Invest in Gold?

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani talks about how to short sell the right way, in his latest video for Fast Profits Daily.

In the video below, Vijay shares what a good short selling system is all about and how it can give you profitable short selling calls when the markets are falling.

Tune in here to find out more:

Top Stocks in Focus Today

Reliance Industries will be among the buzzing stocks today.

The retail arm of Reliance Industries (RIL) - Reliance Retail Ventures has acquired online furniture and home decor store Urban Ladder as it seeks to expand its offerings and digital footprint.

Reliance Retail Ventures bought 96% stake in Urban Ladder for Rs 1.8 billion, RIL said in a statement, adding it has the option to acquire the remaining stake and plans to invest Rs 750 million in it by December 2023.

HDFC Asset Management Company will also be in focus today as the company, on November 16, appointed Navneet Munot as the Managing Director & CEO of the company. He will succeed the present Managing Director Milind Barve.

Navneet Munot is currently the Chief Investment Officer (CIO) at the SBI mutual fund company, where he has worked for twelve years.

Market participants will also be tracking telecom stocks today as shares of telecom service providers were in focus amid hopes of tariff hike in the forthcoming months.

Among individual stocks, Vodafone Idea share price rallied 12% to Rs 10.20 yesterday after media report suggested that Vi is considering increasing tariffs 15-20% by the end of the year or early next year. Reports state that this is on the expected lines as Vodafone Idea is struggling with cash burn and aiming fund raise.

Bharti Airtel share price also shot up to its highest level yesterday since September 21, 2020.

WPI Inflation at Eight-Month High in October

In news from the economic space, the wholesale price-based inflation rose to an eight-month high of 1.48% in October, as manufactured products turned costlier.

This is the highest level of Wholesale price index-based (WPI) inflation since February when it was 2.26%.

While food article prices softened in October, manufactured items witnessed hardening of prices, according to data released by the Commerce and Industry Ministry on Monday.

Food inflation in October stood at 6.37%, as against 8.17% in the previous month.

The rate of price rise in vegetables and potato remained high at 25.23% and 107.70%, respectively, during the month.

Note that last week, the RBI in a report on the state of economy had flagged unrelenting pressure of inflation as a downside risk confronting the prospects of economic recovery.

How the above numbers show up in coming months remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

LIC IPO: FinMin Invites Bids from Acturial Firms for Valuing LIC

In news from the finance sector, the finance ministry on Monday invited bids from actuarial firms for arriving at the embedded value of Life Insurance Corporation (LIC) ahead of its stake sale.

The government is planning to sell minority stake in LIC and list it on the bourses. It has already appointed Deloitte and SBI Caps as pre-IPO transaction advisors.

In the bid notice, the Department of Investment and Public Asset Management (DIPAM) said LIC needs to develop an Indian Embedded Value (IEV) reporting framework for necessary disclosures for the proposed initial public offering (IPO).

Embedded value is a common valuation measure used to estimate the consolidated value of shareholders' interest in an insurance company.

The last date for submission of bids is December 8.

The government has budgeted to collect Rs 2.10 trillion from stake sales this fiscal. This includes Rs 1.20 trillion from CPSE disinvestment and Rs 900 billion from selling stake in financial institutions.

So far this fiscal, the government has been able to mop up Rs 61.4 billion from CPSE disinvestment.

Stay tuned to stay updated on all the latest developments from this space.

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