Today’s Stock Market News | Sensex, Nifty, and Share Prices LIVE STREAM: On Monday morning, domestic stock markets were seen setting new highs. Along with the benchmarks, the India VIX was also surging higher, up 2%.
Domestic stock markets opened the day at new all-time highs. The Sensex hit 51,326 for the first time, while the Nifty 50 traded beyond 15,000 for the first time. The top Sensex gainer was Mahindra & Mahindra, which rose 7%, followed by SBI, Axis Bank, and ICICI Bank. The only two Sensex stocks in the red were NTPC and Bajaj Auto. Despite the fact that financial markets were surging higher, volatility was up 2,69%. Markets became more accessible as a result.
Sanjeev Sanyal, India’s principal economic advisor, said the government of India is committed to higher capital expenditure not only in the coming fiscal year but over the next three years to support the pandemic-hit economy. He added that the government’s economic policy of restoring battered demand while ensuring that the supply side is expanded enough to move in tandem is reflected in a sharp increase in capex in the recently announced Union Budget. For FY22, the government has budgeted Rs 5.45 lakh crore in capital expenditure, which is 26.2 percent higher than the revised estimates for this fiscal year.
11:20 (IST), 08 FEB 2021
Investors reacted positively to Mahindra & Mahindra’s Q3 results, sending the stock up 10%.
On Monday morning, Mahindra & Mahindra’s (M&M) stock soared 10% to reach the upper circuit. The stock’s rise came only days after the company posted fiscal third-quarter earnings, which showed a 40% increase in net profit year over year. The company’s revenue was Rs 14,057 crore, up 16 percent from the same time the previous year. Domestic brokerage firms see the company’s results as promising, and many have raised their target price for the stock by as much as 20%. The company’s stock was currently trading at Rs 924 per share.
10:49 (IST), 08 FEB 2021
Updated with gold
Gold prices fell sharply by 4.22 percent last week, closing at 47256 levels. Silver prices were also sharply corrected by 1.39 percent, closing at 68738. The key explanation for the correction in gold and silver prices was the announcement of lower customs duties; however, the dollar’s weakness helped gold and silver prices. Traders will buy gold at 47000 levels with a stop loss of 46600 levels for a target of 47600 levels, and silver at 68000 levels with a stop loss of 67400 levels for a target of 69500 levels as of today.
Angel Broking’s Anuj Gupta, DVP- Commodities and Currencies Research
10:46 (IST), 08 FEB 2021
USD-INR bias is likely to remain on the downside
Technically, we are standing on the verge of the horizontal support of 72.80. If the USDINR pair trades convincing below 72.80 then we can see a move till 72.50 levels. On the flip side, immediate resistance lies at 73.05 and further at 73.15 levels. Overall, bias is likely to remain on the downside. And hence, we advise importers to wait for the near term booking with the stop loss of 73.00 and exporters to keep on selling on upticks till 72.90-95 levels.: Amit Pabari, managing director, CR Forex Advisors
10:11 (IST), 08 FEB 2021
15,200 in sight
The downside bias in the USD-INR is likely to continue.
In terms of technical analysis, we are approaching the horizontal support of 72.80. We can expect a shift to 72.50 levels if the USDINR pair trades convincingly below 72.80. On the other hand, immediate resistance is seen at 73.05 and then at 73.15. Overall, the downside bias is likely to persist. As a result, we advise importers to hold off on booking until the near term with a stop loss of 73.00, while exporters should continue to sell on upticks until 72.90-95 levels. CR Forex Advisors’ managing director, Amit Pabari
09:45 (IST), 08 FEB 2021
Q3 results aiding market rally
“Like I predicted last week, 15000 was just a psychological barrier. This morning, the Nifty flew past that mark, and we should be on our way to 15200. If the markets can hold their ground at these levels, the index could surprise us by rising to 15500. “14600 has now become strong medium-term support for the markets, and if we can keep above it, any dip can be used as a buying opportunity,” said Manish Hathiramani, Deen Dayal Investments Proprietary Index Trader and Technical Analyst.
09:37 (IST), 08 FEB 2021
The market’s rally is being supported by third-quarter earnings.
“The fundamental factor driving India’s outperformance in February (up 7% on the Nifty) is the Q3 results, which have outperformed expectations across industries by a wide margin. There are strong signs that the earnings cycle is entering an expansionary period. The price could rise even higher if this momentum continues and FIIs continue to buy. The Bank Nifty has gained 17 percent so far in February, thanks to strong performance from the banking sector, with SBI leading the way. PSU bank trading opportunities are unlikely to last long. Investors should choose quality over quantity. The budget’s focus on infrastructure spending has reignited interest in capital goods stocks. According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, “more capital is likely to flow into IT as well.”
09:21 (IST), 08 FEB 2021
The Sensex has reached 51,300 points.
On Monday morning, the Sensex started to rise and was soon at 51,300. Except for Bajaj Auto and NTPC, all Sensex constituents were in the green.
09:18 (IST), 08 FEB 2021
Greetings The Bell Sensex opened the day’s trade above 51,200 for the first time, setting a new all-time high. The Nifty began trading above 15,100 points. The stock of Mahindra and Mahindra increased by 5%.
09:04 (IST), 08 FEB 2021
The Sensex is now at 51,000 points.
In the pre-open session, the Sensex rose to 51,000, while the Nifty remained above 15,100.
09:02 (IST), 08 FEB 2021
The Sensex and the Nifty are both higher after the pre-open.
In the pre-open session on Monday, the Nifty crossed 15,100, while the Sensex hovered just below 51,000.
08:57 (IST), 08 FEB 2021
Gold has recovered and is now trading over $1800 per ounce.
After a 1.2 percent gain in the previous session, COMEX gold is trading flat at $1810/oz. As the US dollar index lost some of its recent gains, gold recovered from recent lows. Increased hopes of US stimulus initiatives, as well as a mixed US employment study, are also supporting the price. Weaker investor interest, as evidenced by ETF outflows and a rise in US bond yields, is weighing on price. Gold has recovered to trade above $1800 per ounce, but a sustained increase is impossible until the US dollar has corrected. : Ravindra Rao, Kotak Securities’ VP-Head Commodity Research
08:43 (IST), 08 FEB 2021
SGX Nifty suggests that the Sensex and Nifty would open with a gap; 5 things to know until the market opens
On the Singaporean Exchange, Nifty futures were trading 87 points, or 0.58 percent, higher at 15,029.50, suggesting a promising start for the BSE Sensex and Nifty 50 on the first day of the week.
08:19 (IST), 08 FEB 2021
Spectrum receipts: The low goal indicates that a 5G auction in FY22 is impossible.
The government has indicated that it will not hold auctions for the 5G spectrum in the 3.5 GHz band in FY22 by setting a low revenue receipt target of Rs 53,987 crore from telecommunication services. The government intends to conduct 4G spectrum auctions in March, with the proceeds being accounted for in the next fiscal year. This auction is for 4G bands with frequencies of 700, 800, 900, 1800, 2,300, and 2,500 MHz.
08:19 (IST), 08 FEB 2021
BPCL, RIL, PNB, Godrej Properties, Tata Communications, and Aditya Birla Fashion are among the stocks under consideration.
On February 8, a total of 140 firms, including BPCL, Aditya Birla Fashion, AstraZeneca Pharma, Balkrishna Industries, Bombay Dyeing, Godrej Consumer Products, NMDC, Redington India, Sun Pharma Advanced Research Company, Sun TV Network, Torrent Pharmaceuticals, Usha Martin, and Vakrangee, will report quarterly earnings.
08:08 (IST), 08 FEB 2021
Now is the time to be stock-specific.
“We need to be stock specific, or we can just purchase at big broad supports,” says the analyst. The previous critical resistance levels of 14750/49750 will serve as significant support for the market in the coming week. In the worst-case scenario, we might see 14500/49000 amounts. On the upper end, 15250 and 15350 would be major stumbling blocks for Nifty, while 51500 and 52000 would be major stumbling blocks for the Sensex. Metals, insurance, and pharmaceutical companies should be prioritized, according to Shrikant Chouhan, Kotak Securities’ Executive Vice President, Equity Technical Research.
07:50 (IST), 08 FEB 2021
Few disappointments in Q3FY21; FMCG players and upstream firms impress
India Inc continues to post positive earnings results for the third quarter of FY21, with few disappointments. The good news is that most businesses have achieved excellent top-line growth, whether by increased volumes, price increases, or a combination of the two. Also, capital goods producers, who were supposed to see a drop in sales, have shocked Wall Street.
07:49 (IST), 08 FEB 2021
Over the next three years, the government has agreed to a high level of capital expenditure: Sanjeev Sanyal is an Indian businessman.
Sanjeev Sanyal, the government’s principal economic advisor, told FE that the government’s economic policy of rebuilding battered demand while ensuring that the supply side is expanded sufficiently to move in tandem is reflected in calibrated stimulus steps in the wake of the Covid-19 pandemic and a sharp hike in Capex in the Budget for FY22.