Market Live Today On 9 Aug 2021: Market Continues To Rise, Nifty Around 16,300, M&M, Bajaj Finserv Top Gainer


The market has made a strong start on the first day of the week. 

Nifty has crossed 16300. Private banks have energized the market.

10:06 am

Rupee opening: Weakness is being seen in the rupee against the dollar. Rupee has opened weak by 6 paise against the dollar today. The rupee has opened at 74.22 today against the dollar. On the other hand, the rupee had closed at 74.16 against the dollar in Friday’s trade.

10:00 am

The market has made a strong start on the first day of the week. Nifty has crossed 16300. Private banks have energized the market. Nifty Bank is seeing the highest rise of 270 points, but there is a sluggish business in the midcap.

09:50 am

Share of Rolex rings listed on NSE with 38.89% premium at Rs 1250

Rolex Rings shares have got a good listing in the market today. Rolex Rings are listed on BSE with a percentage premium of Rs. Whereas its listing on NSE has been done with a premium of Rs. The issue of this component maker was well received by the investors and it has been subscribed 130.44 times.

Rolex Rings had issued an issue of Rs 731 crore. The issue price of the company was Rs 880-900. The issue of the company opened on July 28 and closed on July 30.

Rolex Rings will use the money raised from this IPO to meet the long-term working capital requirements of the company. Also, it will be used for other needs of the company’s business. Rolex Rings is the 29th IPO of this year.

09:45 am

Opinion of Brokerage on SAIL

PHILIP CAP has a buy rating on SAIL and has a target of Rs 167 for the stock. He said that the company has recorded all-time high quarterly EBITDA.

JP MORGAN maintains neutral rating on SAIL and has a target of Rs 150 for the stock. He says that the increased steel prices will further add to the profits.

EDELWEISS maintains hold rating on SAIL and has a target of Rs 140 for the share. He says that the company’s EBITDA for the first quarter in FY 2022 was higher than the estimate.

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09:35 am

Work is progressing with the growth in the market. Nifty Bank has crossed 36,000. Buying in banking stocks has increased. Buying is being seen in 9 out of 12 stocks of Nifty Bank.  

09:18 am

The market has got off to a strong start. Sensex is trading at a level of 54,444.31 with a gain of 166.59 points or 0.31 percent. On the other hand, Nifty is trading at the level of 16,302.30 with a strength of 64.10 points or 0.39 percent.

09:03 am

The market has had a flat start in the pre-opening. Sensex is trading at the level of 54350.2 with a gain of 72.54 points or 0.13 percent. On the other hand, Nifty is trading at the level of 16314.00 with a strength of 75.80 points or 0.47 percent.

08:57 am

Petrol Diesel Price: Since last week, the price of crude oil has been declining in the international market. Despite this, the customers of petrol and diesel in the country have not got any relief so far.

The state-run oil companies (Oil PSUs) of the country have not made any change in the price of petrol and diesel even today. Petrol and diesel prices are stable for the 23rd day in a row. Petrol and diesel are at a record high in the country at this time and that too when there is a sluggishness in the price of crude oil in the international market. In order to buy petrol or diesel, the common man has to pay tax to the central government as well as the state governments.

If we see in the domestic market, from May 4, the price of petrol and diesel has started increasing strongly. Petrol became costlier by Rs 11.52 and diesel by Rs 9.08 in 42 days, sometimes continuously or intermittently. However, from July 18, the prices of petrol and from July 16, the prices of diesel are stable.

08:46 am

Opinion of Brokerage on TATA Power

CLSA has given Buy rating on TATA POWER and has a target of Rs 160 for the stock. He says the first quarter was strong due to debt refinancing and better coal prices.

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JP MORGAN maintains an overweight rating on TATA POWER and has a target of Rs.155 for the stock. He says that the management’s focus remains on increasing the renewables power business. Along with this, it is our top pick in utilities.

MACQUARIE has an underperform rating on TATA POWER and has a target of Rs 101 for the stock. He says that according to the management, it may take 18 months for Renewables Platform Monetization.

08:36 am

PHOENIX / PVR / INOX. Malls will open in Pune for people who have taken both doses of the vaccine.

08:29 am

AFFLE INDIA. For the first quarter, the company’s profit grew 23 per cent year-on-year at Rs 35.7 crore as against Rs 18.8 crore, while earnings grew 69.8 per cent.

08:21 am

strategy on nifty

Virendra Kumar of CNBC-Awaaz says that its resistance zone is 16310-16344 and the larger resistance zone is 16378-16410. The base zone is 16218-16171 and the larger base zone is 16105-16043. The position of institutional investors is not entirely clear. The 16330-16171 zone appears as per the setup. Buy the downside of the 16330-16171 range, the upside will be only above 16330. If slips below 16171 then 16043 level is also possible. Crude decline good for us, US futures are down. Don’t think about short till 16043, you can get trapped.

08:13 am

strategy on bank nifty

Virendra Kumar says that its resistance zone is 36041-36190. The major resistance zone is 36339-36490. The base zone is at 35640-35550 and the larger base zone is at 35427-35310. There has been good consolidation in two days. Consolidation was also needed after a strong uptrend. Strong call writing at 36000-36200, put writers dominated at 35500. So stay long and buy every drop before 35500. Above 36200 there will be big short covering. IndusInd Bk, HDFC Bk, Kotak are showing good growth.

08:04 am

today’s top calls

Prudent Broking Services
BUY WIPRO AT 598 SL 580 TGT 628

–IDBI Capital
Buy ITC Stop 209 Target 225

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Buy Dr Reddy @ 4786 SL 4730 TGT 4950

07:52 AM

Mumbai local started for common people

The Mumbai local will start conditionally for the general public from August 15. People who have taken both doses of the vaccine will get travel exemption. CM Uddhav Thackeray has announced this.

07:47 am

2 IPOs will open from today

The IPO of NUVOCO VISTAS CORP will open from today. The price band is between Rs 560 and Rs 570. 1500 crores has been raised from ANCHOR INVESTOR. The issue of CARTRADE TECH will open today. The price band is between 1585 and 1618. ANCHOR INVESTORS invested Rs 900 crore in the company.

07:37 am

ROLEX RINGS will be listed today

The Initial Public Offer (IPO) of Rolex Rings received a great response. Its shares will be listed on BSE and NSE on Monday. It had an issue price of Rs 900 and is expected to launch at a premium of 45-50 per cent. The company’s IPO was subscribed 130.44 times. It was open for subscription between July 28-30.

07:24 am

SAIL turned profit from loss

SAIL’s results in the first quarter have been better than expected. The company has made a profit of 3897 crores against a loss of 1226 crores. There has been more revenue than Double. At the same time, the profit of NALO has also increased from Rs 17 crores to 347 crores.

07:18 am

weakness in gold and silver

There is weakness in gold and silver in the global markets. There is a sharp decline in crude. With good job data in America, Comex Gold has fallen by more than two and a half percent to reach $ 1775. Crude has also come down below $70. Fear of decreasing demand has led to a decline.

07:10 am

Global cues weak for the market

Signs are looking weak on the first day of the week. SGX NIFTY and DOW FUTURES are trading down about a quarter percent. However, on Friday, the DOW closed at record levels. Backed by a better-than-expected job report in July. Here in Asia, the markets of Japan and Singapore are closed today.

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