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Indian Indices End Flat; Metal and Telecom Stocks Witness Buying
Wed, 5 Aug Closing | Monish Vora, TM Team

Indian share markets continued to trade on a volatile note and ended on a flat note today.

At the closing bell, the BSE Sensex stood lower by 24 points (down 0.1%).

The NSE Nifty closed higher by 24 points (up 0.2%).

The SGX Nifty was trading at 11,126, up by 54 points, at the time of writing.

The BSE Mid Cap index ended up by 0.4%.

The BSE Small Cap index ended up by 0.9%.

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

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Asian stock markets ended on a mixed note. As of the most recent closing prices, the Hang Seng ended up by 0.62% and the Shanghai Composite stood higher by 0.17%. The Nikkei ended down by 0.26%.

The rupee was trading at 74.82 against the US$.

Gold prices are trading up by 1.2% at Rs 55,219 per 10 grams.

Speaking of the current stock market scenario, note that after over 2 years of lag, the smallcap index is beating Sensex in the post Covid rebound.

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Moving on, HDFC Ltd was among the top buzzing stocks today.

This was seen as it was reported that India's largest private sector mortgage financier HDFC Ltd may launch a mega qualified institutional placement (QIP) today to raise Rs 140 billion as it looks to strengthen its balance-sheet and scout for M&A opportunities in the COVID-19 era.

As per a leading financial daily, the company have received excellent demand from long only funds and the proposed fund raise is likely to be launched today. The plan is to raise the entire Rs 140 billion in a single tranche via a QIP of equity and warrants. It was not immediately clear on how NCDs (non-convertible debentures) would be accommodated as part of the exercise.

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With the launch, HDFC Ltd will become the sixth corporate to launch a QIP during the lockdown period and will join the likes of Kotak Mahindra Bank, JM Financial, PI Industries Axis, Bank and Info Edge.

On June 19th, 2020, a committee of directors of the firm had approved a massive fund-raising exercise of up to Rs 140 billion in one or more tranches through a combination of financial instruments.

The HDFC statement added that the said funds are being raised to augment its long term resources, finance organic & inorganic business opportunities that may arise in financial services including housing finance and/or in areas where its subsidiaries operate, and to maintain sufficient liquidity and for general corporate purposes.

In news from the macroeconomic space, with the economy going through a slowdown, the NITI Aayog is of the view that India's gross domestic product (GDP) may contract around 5.1% in the current fiscal.

In a recent presentation to Prime Minister Narendra Modi and the Finance Ministry, it has suggested ways to boost demand, specifically in automobile sector and real estate sector.

As per NITI Aayog, the long-awaited scrappage policy should be brought in to help the automobile sector. It has also recommended removal of cess on automobiles.

In a bid to revive demand in the realty sector, it has suggested reinstatement of the subvention scheme which was disallowed last year.

Further, the think tank has also recommended government spending as private expenditure and investment is likely to take a backseat in the current scenario.

NITI Aayog, in its presentation, also noted that manufacturing sector growth and capacity utilisation was severely low even before the nationwide lockdown was implemented.

In another major recommendation, it was reported that the think tank has suggested privatisation of three banks - Punjab & Sind Bank, UCO Bank and the Bank of Maharashtra.

If and how the above recommendations are acted upon by the government remains to be seen. Meanwhile, we will keep you updated on all the developments from this space. Stay tuned.

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

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Stock Market Updates

ASTER DM HEALTHCARE LTD Share Price Down by 5%; BSE HEALTHCARE Index Up 0.4% (Today's Market)

Sep 30, 2020 03:28 PM

ASTER DM HEALTHCARE LTD share price is trading down by 5% and its current market price is Rs 145. The BSE HEALTHCARE is up by 0.4%. The top gainers in the BSE HEALTHCARE Index are BLISS GVS PHARMA (up 6.5%) and NARAYANA HRUDAYALAYA LTD (up 3.6%). The top losers is ASTER DM HEALTHCARE LTD (down 5.2%)..

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MPHASIS share price is trading up by 6% and its current market price is Rs 1,389. The BSE IT is up by 0.3%. The top gainers in the BSE IT Index is MPHASIS (up 5.7%). The top losers are HCL TECHNOLOGIES (down 0.1%) and INFOSYS (down 0.2%).

JSW ENERGY Share Price Down by 5%; BSE POWER Index Up 0.1% (Today's Market)

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ASTRAL POLY TECHNICK Share Price Up by 6%; BSE CAPITAL GOODS Index Up 1.1% (Today's Market)

Sep 30, 2020 03:20 PM

ASTRAL POLY TECHNICK share price is trading up by 6% and its current market price is Rs 1,222. The BSE CAPITAL GOODS is up by 1.1%. The top gainers in the BSE CAPITAL GOODS Index is ASTRAL POLY TECHNICK (up 5.7%). The top losers are BHARAT ELECTRONICS (down 0.2%) and HONEYWELL AUTOMATION (down 0.3%).

AIA ENGINEERING Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.8% (Today's Market)

Sep 30, 2020 03:08 PM

AIA ENGINEERING share price is trading up by 5% and its current market price is Rs 1,851. The BSE CAPITAL GOODS is up by 0.8%. The top gainers in the BSE CAPITAL GOODS Index is AIA ENGINEERING (up 5.2%). The top losers are THERMAX (down 0.2%) and HONEYWELL AUTOMATION (down 0.3%).

Indian Indices Trade on a Volatile Note; Tata Steel & ONGC Top Losers (Today's Market)

Sep 30, 2020 12:30 pm

The BSE Sensex is trading down by 37 points, while the NSE Nifty is trading down by 14 points.

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