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Home  >  News  > Mid Session Commentary
Mid Session Commentary
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Shares trade with decent gains; realty shares bounce Back
(10:26, 23 Sep 2020)

The main equity benchmarks continued to trade with decent gains in morning trade. The Nifty regained the 11,200 level in early trade. Realty shares bounced on value buying after correcting by over 7% in the past two sessions.

At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 248.12 points or 0.66% at 37,982.20. The Nifty 50 index added 66.70 points or 0.60% at 11,220.35.

In the broader market, the S&P BSE Mid-Cap index rose 0.50% while the S&P BSE Small-Cap index gained 0.93%.

The market breadth was strong. On the BSE, 1352 shares rose and 700 shares fell. A total of 105 shares were unchanged.

India-China Conflict:

The Indian and Chinese Senior Commanders held the 6th round of military commander-level meeting on Monday. The two sides had agreed to earnestly implement the important consensus reached by the leaders of the two countries, strengthen communication on the ground, avoid misunderstandings and misjudgments, stop sending more troops to the frontline, refrain from unilaterally changing the situation on the ground, and avoid taking any actions that may complicate the situation. The two sides also agreed to hold the 7th round of military commander-level meeting as soon as possible, take practical measures to properly solve problems on the ground, and jointly safeguard peace and tranquility in the border area.

Monsoon Session:

The Parliament is all set to be adjourned sine die today ahead of its scheduled time in view of the Covid-19 pandemic. The Monsoon Session, which had begun on 14th September, was scheduled to end of 1st of next month.

In Rajya Sabha, Minister of State for Parliamentary Affairs, V. Muraleedharan announced that the government has decided to recommend adjournment of the Upper House sine die. He, however, said, some important legislation business cleared by the Lok Sabha has to be completed before it. The Lok Sabha will assemble at 6 PM and it is expected that the Lower House will also adjourn sine die today itself.

Buzzing Index:

The Nifty Realty index rose 1.36% to 212.85, amid value buying. The index lost 7.38% in the past two days.

Prestige Estates (up 5.46%), Sunteck Realty (up 2.93%), Brigade Enterprises (up 1.87%), Godrej Properties (up 1.85%), Indiabulls RE (up 1.75%), DLF (up 1.64%) and Sobha Developers (up 1.61%) advanced while The Phoenix Mills declined 1.45%.

Stocks in Spotlight:

Reliance Industries (RIL) rose 1.89% to Rs 2252.95 after the company announced on Wednesday that global investment firm KKR will invest Rs 5,550 crore into Reliance Retail Ventures (RRVL), a subsidiary of the company. This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore. KKR's investment will translate into a 1.28% equity stake in RRVL on a fully diluted basis. This marks the second investment by KKR in a subsidiary of RIL, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year.

Sequent Scientific rose 2.74% to Rs 147.90 after the company said it entered into definitive agreement with Dr. Huseyin Aydin for the acquisition of 40% stake in Provet for $17.10 million. Sequent will acquire the stake through its Ireland-based wholly-owned subsidiary, Alivira Animal Health. The transaction is expected to be completed on or before 31 October 2020.

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NIFTY
Wednesday, October 21, 2020   Adani Ports :  355.35    (+6.40)  ||  Asian Paints :  2114.30    (-4.20)  ||  Axis Bank :  501.45    (+7.50)  ||  B P C L :  349.55    (+6.20)  ||  Bajaj Auto :  3018.00    (+13.80)  ||  Bajaj Finance :  3232.85    (-29.30)  ||  Bajaj Finserv :  5904.15    (-47.70)  ||  Bharti Airtel :  419.00    (+14.00)  ||  Britannia Inds. :  3397.25    (-155.90)  ||  Cipla :  767.10    (+2.80)  ||  Coal India :  115.10    (+1.45)  ||  Divi's Lab. :  3078.95    (-6.80)  ||  Dr Reddy's Labs :  5046.75    (-24.40)  ||  Eicher Motors :  2181.35    (-13.10)  ||  GAIL (India) :  87.65    (+1.95)  ||  Grasim Inds :  791.75    (+14.55)  ||  H D F C :  2048.75    (+33.45)  ||  HCL Technologies :  871.05    (-8.60)  ||  HDFC Bank :  1246.70    (+22.75)  ||  HDFC Life Insur. :  562.70    (-8.30)  ||  Hero Motocorp :  3178.35    (-59.25)  ||  Hind. Unilever :  2163.15    (-9.95)  ||  Hindalco Inds. :  185.95    (+5.15)  ||  I O C L :  76.00    (+0.95)  ||  ICICI Bank :  420.30    (+5.70)  ||  IndusInd Bank :  628.10    (+2.85)  ||  Infosys :  1148.35    (+10.85)  ||  ITC :  167.65    (+0.20)  ||  JSW Steel :  322.95    (+4.25)  ||  Kotak Mah. Bank :  1393.30    (+24.50)  ||  Larsen & Toubro :  924.45    (+7.15)  ||  M & M :  600.85    (-1.40)  ||  Maruti Suzuki :  6861.85    (+17.25)  ||  Nestle India :  16030.85    (-221.70)  ||  NTPC :  82.30    (+1.65)  ||  O N G C :  67.80    (+0.40)  ||  Power Grid Corpn :  163.75    (+6.55)  ||  Reliance Industr :  2124.60    (-31.30)  ||  SBI Life Insuran :  785.35    (-15.40)  ||  Shree Cement :  21147.50    (-37.30)  ||  St Bk of India :  203.75    (+0.70)  ||  Sun Pharma.Inds. :  490.20    (+3.85)  ||  Tata Motors :  130.25    (+0.60)  ||  Tata Steel :  404.05    (+11.65)  ||  TCS :  2675.40    (-63.60)  ||  Tech Mahindra :  845.90    (-3.95)  ||  Titan Company :  1244.70    (+11.20)  ||  UltraTech Cem. :  4629.10    (+84.75)  ||  UPL :  454.20    (-1.75)  ||  Wipro :  343.45    (-3.30)  ||