Rising Rupee, NMDC Q1 Results, and Top Buzzing Stocks Today

Mon, 31 Aug Pre-Open

   Previous Close   

   SGX Nifty   

   09:30 am   

   12:30 pm   

   Closing   

Indian share markets ended on a strong note on Friday.

Benchmark indices gained for the sixth straight day on Friday, amid positive global equities, led by heavy buying in banking and financial stocks.

Bluechip financial counters such as Axis Bank, ICICI Bank and SBI boosted market sentiment as analysts turned positive on the sector.

According to global brokerage UBS, the economy is recovering gradually, lowering the risks of bad loan formation.

At the closing bell on Friday, the BSE Sensex stood higher by 354 points.

Meanwhile, the NSE Nifty stood higher by 96 points. The top gainers in NSE were Axis Bank, IndusInd Bank, and UPL.

Sectoral indices ended on a positive note with stocks in the banking sector and finance sector witnessing buying interest.

Gold prices were trading up by 0.8% at Rs 51,300 on MCX at the time of closing stock market hours on Friday.

If you want to know, when and how to buy gold, just visit our Youtube Playlist on gold investing.

Speaking of the current stock market scenario, in his latest video, Rahul Shah discusses a unique strategy that could force you to re-think the way you invest in stocks.

Tune in to find out more:

Top Stocks in Focus Today

Edelweiss Financial among the top buzzing stocks today as Hong-Kong based private equity group PAG picked up 51% stake in Edelweiss Wealth Management (EWM) for Rs 22 billion.

Edelweiss Financial also announced its June quarter earnings for 2020-21 (Q1FY21) last week in which the company reported a loss of Rs 2.5 billion as compared to the profit of Rs 1.3 billion reported in Q1FY20.

GMR Infrastructure share price will also be in focus today as the company announced a strategic restructuring of its business verticals, including a spin-off and the listing of its airports business.

The company's board has approved the proposal for a vertical demerger. This will see the non-airport business of GMR, which includes energy, urban infrastructure, and EPC services, demerged into GMR Power and Urban Infra Ltd (GPUIL) as a going concern, along with the amalgamation of GMR Power Infra Ltd. GIL, meanwhile, will become a pure-play airports company.

Market participants will also track shares of Repco Home Finance as reports suggested Aditya Birla Sun Life MF increased its stake in the company from 4.86% to 6.14%.

As per the June quarter shareholding pattern, ICICI Prudential SmallCap Fund held 2.36% stake, DSP SmallCap Fund held 4.44% stake, and HDFC SmallCap Fund held 5.97% stake.

NMDC Q1 Net Profit Slumps 55% YoY

NMDC, India's largest iron ore miner, reported its earnings for the quarter ended June 2020 (Q1FY21).

NMDC's net profit for the quarter under review slumped 55% year-on-year (YoY) to Rs 5.3 billion as both production and sales were impacted due to the Covid-19-induced lockdown. The company had posted net profit of Rs 11.8 billion in the corresponding quarter in 2019-20.

NMDC's turnover during the first quarter was Rs 19.4 billion compared to Rs 32.6 billion during the corresponding quarter last fiscal.

Earlier this month, the company hiked rates of iron ore by Rs 300 to Rs 2,950 a tonne. Iron ore is the key raw material used in steel making. Any change in its prices has a direct impact on the rates of steel.

NMDC's Q1 results were hit hard by covid-19 lockdown, but the firm's plans to demerge its upcoming steel unit in Chhattisgarh surprised the Street.

Reports state that demerger of the steel plant would reduce the stress on its parent company's balance sheet. The three-million-tonne steel plant coming up in Nagarnar, Chhattisgarh, has been delayed, and could be commissioned next year.

Rupee Rises to Highest Level in Six Months Against Dollar

The Indian rupee rose to its highest level against the US dollar in nearly six months on Friday. During the session on Friday, the rupee rose to 73.28 against the dollar, its highest level since March 5.

Gains were seen on the back of dollar inflows into the equity markets while gains in Asian peers also aided sentiment.

As per market participants, there's strong support for USD/INR pair around 73.50 levels and a breach of that would mean further gains for the local currency this week.

Market participants are also closely tracking the central bank's intervention in the market. Traders expect the Reserve Bank of India (RBI) to step in via state-run banks to purchase dollars to prevent a sharp appreciation in the local unit.

How this pans out 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!

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