Market Live: Nifty trading around 11350 levels, Metals shines

 

Share Market Live for 11th Aug at 1.30 p.m- Indian share market is trading higher with the support of Metals, FMCG, and Banking sectors. The Nifty and Sensex are trading higher at 0.65% and 0.77% respectively while Bank Nifty is trading up by 1%. 

The Nifty midcap 100 index is trading flat to positive whereas and small caps 100 index is trading 0.58% higher today. On the global front, most of the Asian markets are in green and the European markets are also opened strong today

Zee Entertainment, ITC, and JSW Steel are trading as top gainers in the Nifty index whereas Titan, Shree Cement, and Cipla are trading as top losers at this hour.

 

Market live for 11th Aug: Markets are trading higher, Metals, Banks are in focus

 

Indian markets opened in a positive note after following the global peers. The Nifty opened at 11322.25, made a gap up of 52.1 points while Sensex opened at 38371.34 levels made a positive opening of 189.26 points. The Bank Nifty also opened 149.95 points higher at 22050.20.

At 10 a.m, the Nifty and Sensex are trading higher at 0.60% and 0.67% respectively while Bank Nifty trading 1% up from yesterday’s close.

Hindalco, Tata Steel, and Zee Entertainment are trading as the top gainers in the Nifty50 index whereas Shree Cements, Titan Company, and Dr. Reddy’s Lab are trading as top losing stocks. Reliance, ICICI Bank, and Titan Company are trading as the most active stocks. 

The share price of Titan reacted negatively after the FYQ1 results announced yesterday. The Titan company announce Rs 270 cr Q1Fy21 net loss yesterday, the company’s revenue plunged 62% on YoY basis.

On sector-wise, Metals, Banks, and IT sectors are trading highers whereas Healthcare, Telecom sectors are trading marginally lower.

SGX Nifty is indicating a positive opening, news that can influence the live market today

 

Good morning and welcome to Share Market Live Updates for 11th Aug

Market live for 11th Aug at 8.40 a.m-  Asian markets are trading higher today. Nikkei is trading at 1.70% up while Hang Seng is trading higher at 2.10%. The SGX Nifty is also giving positive signals for the Indian market opening. At present, the SGX Nifty is trading at 48 points or 0.43% higher from yesterday’s close.

Yesterday, in the US market, Dow Jones climbed as traders assessed the chances of new stimulus spending and lower coronavirus cases. The Dow was gained 1.3% while profit booking was seen in the Nasdaq, it was down marginally by 0.39% on August 10. The European markets were closed marginally higher. FTSE and CAC were closed 0.31% and 0.41% respectively while DAX closed almost flat to positive notes.

In India yesterday, Sensex and Nifty closed in a positive note. Sensex was up by 0.37% while Nifty closed higher by 0.50%. FIIs were buyers whereas DIIs were the sellers in the cash market. FIIs bought Rs 302.88 cr and DIIs sold Rs 504.92 cr on 10th August.

 

News that can influence Live Market for 11th Aug 

Passenger Vehicle (PV) retails sales declined by 25% in July as per the auto dealer’s body FADA. This is as compared to the same month last year. The decline in sales is due to coronavirus pandemic impact on the sector.

The ICICI Bank on August 10 launched its qualified institutional placement (QIP) and setting the floor price at Rs 351.36 per equity shares. The board of directors meeting is scheduled on 14th August to determine the issue price for the equity shares to be allotted to qualified institutional buyers.

The All India Bank Employee’s Association (AIBEA) has requested the RBI to review its decision to appoint KV Kamath as the head of the expert committee on Covid-19 related loan restructuring. This is due to the concerns about Kamath’s alleged role in the ICICI Bank- Videocon Group loan controversy

Results today- Bajaj Electricals, Bosch, Kopran, Ashoka Buildcon, AIA Engineering, Central Bank of India, Chalet Hotels, etc

 

Do visit after 10 a.m for more share market live updates

 

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