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Sensex Opens in Green; Telecom and Banking Stocks Lead
Fri, 14 Aug 09:30 am | Rini Mehta, TM Team

Asian stock markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.1% while the Hang Seng is flat. The Nikkei 225 is trading up by 0.1%.

Meanwhile, the S&P 500 ended slightly lower on Thursday among global indices after briefly trading above its record closing high level for a second day. The Dow also fell in the wake of a disappointing forecast from Cisco Systems Inc.

Back home, Indian share markets have opened the day on a higher note today tracking positive trend in the SGX Nifty.

The BSE Sensex is trading up by 146 points.

The NSE Nifty is trading lower by 43 points.

Meanwhile, the BSE Mid Cap index has opened up by 0.4%.

BSE Small Cap index is also trading higher by 0.6%.

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Sectoral indices are trading mixed with BSE Consumer Durables Index under pressure.

BSE Telecom Index is witnessing buying interest, with Reliance Communications and Tejas Networks among the top gainers today.

Moving on, the rupee is currently trading at 74.81 against the US$.

Gold prices are currently trading up by 1.3% at Rs 52,930.

To know more about gold, just visit our Youtube Playlist on gold investing.

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.

We have seen a sharp up move in the index post the market crash. The smallcap index is up 60% since its March lows.

Now, what lies ahead? Will the rally continue? Or will there be a correction?

As per Richa Agarwal, lead smallcap analyst at Equitymaster, the next few days would be crucial for making big gains in smallcap stocks.

But while it is time to act, you must tread with caution. Post Covid, Richa expects a lot of clean up in the smallcap space, with only a few quality stocks emerging as winners.

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Moving on to the stock specific news...

Ashok Leyland is among the top buzzing stocks today.

Ashok Leyland reported a consolidated net loss of Rs 3.9 billion for the first quarter ended June 30 this year owing to the coronavirus pandemic.

The commercial vehicle maker had posted a net profit of Rs 2.7 billion for the April-June 2019 quarter.

The company's revenue from operations in June quarter significantly declined to Rs 14.9 billion as compared with Rs 65.9 billion in the year-ago period.

The company saw a significant decline in volumes, affecting the financial performance adversely.

Despite challenging times, the company went ahead and launched the modular business platform that gives customers the flexibility to choose vehicles as per their requirements.

NEW: 5 Pandemic-Proof Smallcaps You Should Know About...

The company stated that the focus is also on maintaining liquidity, not just of the company but also of dealers and vendors.

Ashok Leyland share price opened the day up by 4.9%.

Cadila Healthcare share price is also in focus today after it launched Remdesivir under the brand name Remdac, used to treat patients suffering from severe symptoms of COVID-19, in the Indian market.

Priced at Rs 2,800 per 100 mg vial, Remdac is the most economical Remdesivir brand in India, the reports noted.

In June this year, Zydus had entered into a non-exclusive agreement with Gilead Sciences Inc to manufacture and sell Remdesivir, the investigational drug, which has been issued an emergency use authorisation by the US Food and Drug Administration (USFDA) to treat patients suffering from severe symptoms of COVID-19.

The active pharmaceutical ingredient (API) for the drug has been developed and manufactured at the group's API manufacturing facilities in Gujarat.

Note that, Zydus Cadila's vaccine candidate ZyCov-D is now in phase II of the clinical trials.

We will keep you updated on developments from this space.

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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Stock Market Updates

Sensex Falls Over 600 Points from Day's High; Bharti Airtel Dips 9% (Today's Market)

Sep 23, 2020 02:30 pm

The BSE Sensex is trading down by 306 points while the NSE Nifty is trading down by 97 points.

VODAFONE IDEA Share Price Down by 11%; BSE 500 Index Down 1.1% (Today's Market)

Sep 23, 2020 02:19 PM

VODAFONE IDEA share price is trading down by 11% and its current market price is Rs 10. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are MAHINDRA CIE AUTO. (up 6.2%) and GSK CONSUMER (up 5.1%). The top losers is VODAFONE IDEA (down 11.4%).

BHEL Share Price Down by 5%; BSE CAPITAL GOODS Index Down 0.8% (Today's Market)

Sep 23, 2020 02:15 PM

BHEL share price is trading down by 5% and its current market price is Rs 33. The BSE CAPITAL GOODS is down by 0.8%. The top gainers in the BSE CAPITAL GOODS Index are LAKSHMI MACHINE (up 2.4%) and SIEMENS (up 1.1%). The top losers is BHEL (down 5.2%).

ICICI SECURITIES LTD Share Price Down by 5%; BSE 500 Index Down 0.4% (Today's Market)

Sep 23, 2020 01:07 PM

ICICI SECURITIES LTD share price is trading down by 5% and its current market price is Rs 470. The BSE 500 is down by 0.4%. The top gainers in the BSE 500 Index are GSK CONSUMER (up 5.1%) and MAHINDRA CIE AUTO. (up 4.7%). The top losers are ICICI SECURITIES LTD (down 5.3%) and TTK PRESTIGE (down 6.4%).

TTK PRESTIGE Share Price Down by 6%; BSE CONSUMER DURABLES Index Up 0.2% (Today's Market)

Sep 23, 2020 01:05 PM

TTK PRESTIGE share price is trading down by 6% and its current market price is Rs 6,199. The BSE CONSUMER DURABLES is up by 0.2%. The top gainers in the BSE CONSUMER DURABLES Index are BAJAJ ELECTRICALS (up 1.3%) and CROMPTON GREAVES CONSUMER ELEC. (up 1.3%). The top losers is TTK PRESTIGE (down 5.8%)..

BHARTI INFRATEL Share Price Down by 5%; BSE 500 Index Down 0.6% (Today's Market)

Sep 23, 2020 12:59 PM

BHARTI INFRATEL share price is trading down by 5% and its current market price is Rs 182. The BSE 500 is down by 0.6%. The top gainers in the BSE 500 Index are GSK CONSUMER (up 5.1%) and MAHINDRA CIE AUTO. (up 4.5%). The top losers are BHARTI INFRATEL (down 5.0%) and J.B.CHEMICALS (down 6.2%).

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