Indian Stock Market Today: Nifty Ends 1% Higher, Sensex Surges 676 Points
The benchmark equity indices closed higher on Monday, with the NSE Nifty 50 ending 245.65 points or 1% higher at 24,876.95 and the BSE Sensex ending 676 points or 0.84% up at 81,273.75.
Market Highlights
Shares of Maruti Suzuki, Hero MotoCorp, and Bajaj Auto contributed positively to the index. The FPIs bought stocks worth approximately Rs 551 crore, according to provisional data from the National Stock Exchange. The DIIs, who have been buyers for the 30th straight session, mopped up stocks worth Rs 4,104 crore.
Stocks in Focus
Reliance Industries’ telecom arm Reliance Jio discontinued its entry-level 1 GB per day plan of Rs 209 for 22 days and Rs 249 for 28 days. Additionally, its arm Reliance Consumer Products forayed into healthy functional beverages and acquired a majority stake in a JV with Naturedge beverages.
Hindustan Zinc approved the setup of a 10 MTPA tailings reprocessing plant, with a capacity of 10 MTPA, to be developed with an investment of up to Rs 3,823 crore and targeted for completion within 28 months from the zero date.
Trent launched its first-ever store of the brand ‘Burnt Toast’ in Surat. SBI Cards launched the Bank of Maharashtra SBI card. Marine Electricals received an Rs 17.4 crore order from Allweiler India for the supply of control panels.
IPO Updates
Vedanta’s board will meet on Aug. 21 to consider and approve the 2nd interim dividend. GMR Airports’ board will meet on Aug. 21 to consider raising funds up to Rs 5,000 crore via QIP, bonds & others.
Nuvoco Vistas Corp approved the issuance of NCDs worth up to Rs 600 crore on a private placement basis. Jana Small Finance Bank appointed Rajesh Sharma as COO as Ganesh Nagarajan resigned from the position.
Aditya Birla Capital allotted 200 NCDs worth Rs 200 crore on a private placement basis. HLE Glasscoat’s arm completed the acquisition of certain specific assets of Omeras GmbH.
Nifty August Futures and Options
Nifty August Futures were up by 1.16% to 24,971 at a premium of 95 points. Nifty August futures open interest was down by 1.8%. Nifty Options 21 August Expiry: Maximum Call open interest at 25000 and Maximum Put open interest at 24,000.
Currency and Bond Markets
The Indian Rupee closed 23 paise stronger against the US Dollar on Monday at 87.36 a dollar. The yield on the benchmark 10-year bond settled 10 basis points lower at 6.5%.
Ex-Dividend and Price Band Changes
Companies going ex-dividend include Apollo Hospitals Enterprise, Natco Pharma, Shyam Metalics and Energy, Power Grid Corp, Refex Industries, and Kothari Petrochem. Rico Auto Industries’ price band has been changed to 20% from 10%.
Conclusion
The Indian stock market ended on a positive note, with the NSE Nifty 50 and BSE Sensex closing higher. Investors will be watching the upcoming earnings season and major corporate actions for cues. Stay updated with the latest news and analysis on the Indian stock market.