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Benchmark indices ended higher with Nifty above 16,600 led by the metal, pharma, banks, and power stocks.
At close, the Sensex was up 403.19 points or 0.73% at 55,958.98, and the Nifty was up 128.10 points or 0.78% at 16,624.60. About 2067 shares have advanced, 969 shares declined, and 122 shares are unchanged.
Bajaj Finserv, Adani Ports, Bajaj Finance, Tata Steel, and Hindalco Industries were the top Nifty gainers. Britannia Industries, HDFC, Infosys, Asian Paints, and Nestle were among the top losers.
BSE midcap and smallcap indices gained over 1 percent each. Among sectors, except IT and FMCG, all other sectoral indices ended in the green.
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Topic :- Time:3.00 PM
Nifty spot if holds above 16600 on closing basis then expect some good sharp upmove in coming session and if it closes below above mentioned level then some sluggish movement can follow in the market. Avoid open position for tomorrow.
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Topic :- Time:2.30 PM
CRUDEOIL Trading View:
CRUDEOIL is trading at 4920. If it manages to trade and sustain above 4925 levels then expect some upmove in it and if it breaks and trade below 4900 level then some decline can follow in it.
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Topic :- Time:2.00 PM
Nifty is flying high and Reliance has also joined the race. Nifty spot if manages to trade and sustain above 16620 level then expect some quick upmove and if it breaks and trade below 16580 level then some decline can follow in the market.
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Topic :- Time:1.45 PM
Just In:
Home loans demand rise 26% in Jan-June.
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Topic :- Time:1.30 PM
GOLD Trading View:
GOLD is trading at 47493.If it breaks and trade below 47480 level then expect some further decline in GOLD and if it manages to trade and sustain above 47540 level then some upmove can be seen.
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Topic :- Time:1.20 PM
Bajaj Finserv gets SEBI approval for mutual fund business:
Financial services company Bajaj Finserv on Tuesday announced that the Indian market regulator Securities and Exchange Board of India (SEBI) has given its in-principal nod to the company for sponsoring a Mutual Fund. The company would also be setting an Asset Management Company (AMC).
Accordingly, the company would be setting up an Asset Management Company (AMC) and the Trustee Company, directly or indirectly i.e., itself or through its subsidiary in accordance with applicable SEBI Regulations and other applicable laws, Bajaj Finserv said in an exchange filing.
Shares of Bajaj Finserv were trading over 3% higher to ₹15,785 per share on the BSE in Tuesdays first half of the trading session. The stock has surged more than 75% this year (year-to-date) whereas its up over 140% in one year. Bajaj Finserv is focused on lending, asset management, wealth management and insurance services.
The company was formed in 2007 as a result of its demerger from Bajaj Auto Limited to further the groups interest in financial services. Bajaj Finserv is the holding company for the businesses dealing with financial services of the Bajaj Group.
Rahul Sharma, Co-Founder, Equity99 said, The company plans to offer all financial services and deliver seamlessly through an app-based platform. The business would leverage the digital platform to provide low-cost, high-value services, and the company is expected to benefit from synergies & its customer database.
For the quarter ending June 2021, Bajaj Finserv reported an over 31% decline in consolidated net profit at ₹833 crore. The company had reported a net profit of ₹1,215 crore in the same quarter of the preceding fiscal. The consolidated total income also plunged to ₹13,949 crore in Q1FY22 as against ₹14,192 crore in the year-ago quarter.
The SEBI approval for the mutual fund business for Bajaj Finserv comes at a time when MFs have become a popular mode of investment with the industrys assets under management (AUM) surging to an all-time high of ₹35 lakh crore in July-end.
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Topic :- Time:1.00 PM
Nifty is rising and is waiting for Reliance Industries to take market further up. Nifty spot if manages to trade and sustain above 16580 level then expect some quick upmove in it and if it breaks and trade below 16540 level then some decline can follow in it. Once Reliance stock begins its wild run then nifty is likely to test 16600-16700 levels soon.
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Topic :- Time:12.30 PM
COPPER Trading View:
COPPER is trading at 706.80.If it breaks and trade below 706.00 level then expect some decline in it and if it manages to trade and sustain above 707.20 level then some upmove can follow in COPPER.
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Topic :- Time:12.10 PM
Just In:
Chemplast Sanmar shares list at Rs 525, a 3% discount to issue price.
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Topic :- Time:12.00 PM
Nifty is trading in range. Nifty spot if manages to trade and sustain above 16560 level then expect some quick upmove in the market and if it breaks and trade below 16520 level then some decline can follow in the market. Use all lows as an opportunity to go long in the market.
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Topic :- Time:11.30 AM
News Wrap Up:
1. Sensex jumps 150 points; Metal, PSU Bank indices rally
2. Bajaj Finserv gets Sebi nod to set up mutual fund; stock hits new high
3. Tata Sons seeks shareholders nod to raise Rs 40,000 cr in debt
4. DLF 3.0: Realtor ventures into new territories after four decades
5. FM Sitharaman gives Infosys September 15 deadline to fix I-T portal snags
6. Skymet dilutes southwest monsoon forecast for 2021 to below-normal
7. US FDA grants full approval to Pfizer-BioNTech coronavirus vaccine
8. Zomato share price falls as lock-in period for anchor investors end
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Topic :- Time:11.00 AM
After positive start nifty is still going good. Nifty spot if manages to trade and sustain above 16560 level then expect it to rise further and if it breaks and trade below 16520 level then some decline can be seen in the market.
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Topic :- Stocks under F&O ban on NSE
1. Canara Bank
2. Vodafone Idea
3. NMDC
4. Sun TV Network
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Topic :- Stocks in News
Sical Logistics: The fifth meeting of the committee of creditors has been scheduled for August 25 through video conferencing.
Nandan Denim: Brickworks Ratings India has revised the outlook of the rating of long-term facilities of the company.
KPI Global: The company has successfully commissioned a new capacity of 5.44 MW (DC) in its existing solar power plant at Village-Sudi & Tancha, Ta-Amod, District- Bharuch.
Atul Auto: Credit rating agency CRISIL has assigned CRISIL A-/ Stable (downgraded from CRISIL A/Stable) to long-term bank facilities and CRISIL A2+ (downgraded from CRISIL Al) to short term bank facilities of the company.
Sanghvi Movers: ICRA upgraded the long-term rating to ICRA A from ICRA A- and also upgraded the short-term rating to ICRA A1 from ICRA A2-.
Eicher Motors: Siddhartha Lal has been reappointed as managing director of the company with effect from May 1, 2021.
NR Agarwal Industries: Production at Unit 2 (writing and printing) of the company has been temporarily shut down due to the lack of market orders.
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Topic :- Nifty Opening Note
Indian Stock Market Trading View For 24 Aug, 2021:
Stock specific action is expected in the market. Global cues will play critical role.
Nifty spot if manages to trade and sustain above 16560 level then expect some upmove in the market and if it breaks and trade below 16440 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.
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