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Good Evening Readers!
Market closed today with marginal up movement. All sectoral indices also ended in the green. Pharma-major Cipla made a bull run on account of its strong quarterly results (26% Y-O-Y growth in consolidated profit & improvement of 9% in revenue) and closed around 9.5% high at around Rs. 797.5/ 795.6 on BSE/NSE. It touched intraday high of Rs. 814.5.
We are Still maintaining Buy on Dips On this Stock.
FII and DII for the week ended on 7th August:
FII/FPI Net Purchase Rs.9496.80 crore in Indian stock markets, while DII continued their sell-off and took home Rs. 2133.84 crore in the last week.
AGR Verdict Today:
Big day for the telecom sector today! The Supreme court set to give its key verdict on the AGR issue today. Most likely, there won’t be any reduction in the due amounts, only the timeframe for staggered payment will be decided in the verdict.
So far, Vodafone Idea has paid Rs 7,854 crore of its Rs 50,399 crore dues, while Bharti Airtel has paid Rs 18,004 crore out of Rs 43,780 crore dues.
AMFI report on MF industry:
First time in the last four years, monthly inflow was lower than the monthly outflow in Equity Mutual Funds as per AMFI (Association of Mutual Funds in India) report during July month. Equity MFs saw a total inflow of Rs. 14,141 crore and outflow of Rs. 16,622 crores. Investors withdrew a net Rs. 2480 crore from equity MFs. On the other hand, Debt MFs saw a strong inflow of funds, with a net investment of Rs. 91,391 crores.
Also, during the quarter ended in June, the number of MF folios rose by 17.96 lakh, thus making the total count around 9.15 crores. This is most likely due to the sharp decline in the markets in March month, causing many new investors to hop into the market through the MF way.
Regards,
StockTradingF&O Team
Disclaimer: The Discussion/trade set up is only for educational purposes. Please consult your own financial advisor before investing on the basis of any recommendations made here.