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After three red sessions in the last week, the market took a break and started fresh today. NIFTY closed 81 points higher, while Sensex moved 173 points upward. All sectoral indices were in green except NIFTY Pharma and PSU Bank.
Eicher Motors was able to recover today, after being a top loser in the last two market sessions with a gain of 4.79% on NSE. Apart from it, NTPC, ZEEL, Hindalco and Bajaj Auto were the top gainers. While, State Bank, Airtel, BPCL, Reliance and Tata Motors were among the top losers.
DII/FII Data:
DIIs continued their profit booking and took back Rs. 717.62 crores, while FIIs remained optimistic about the Indian markets and invested Rs. 332.9 crores.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 17-Aug-20 | 2,766.30 | 3,483.92 | -717.62 |
| FII/FPI | 17-Aug-20 | 3,828.93 | 3,496.03 | 332.9 |
India’s Trade Deficit stood at 4.83 billion dollars in July:
As per the data released by Ministry of Commerce & Industry, India’s trade deficit stood at 4.83 billion dollars after posting a first trade surplus in 18 years of 790 million dollars in June month. Exports in July 2020 were USD 23.64 billion, as compared to USD 26.33 billion in July 2019, exhibiting a negative growth of (-) 10.21 per cent. Major commodities which caused negative export growth are Gems & Jewellery, Leather products and petroleum products.
Imports in July 2020 were also down by 28.4% in dollar terms as compared to July 2019. Due to continued lockdown, oil imports were also down by 31.97% in dollar terms as compared to last year’s July. Other contributors to negative import growth were coal, coke and Briquettes, Electrical & non-Electrical machinery, organic & Inorganic chemicals.
Sterlite Technologies up by 14.13%:
As mentioned in Saturday’s article about PM’s focus on an optical fibre network, Sterlite Tech gained around 14% and closed at Rs. 148.65 on NSE. Stock is 32 points away from its 52-Week high. The company declared a dividend of Rs. 3.5 (yield of 2.35%) with record date as of Aug 27. As we are talking of bonuses, domestic biscuit-maker Britannia industries also declared a dividend of Rs. 83 per share with the same record date.
Media Conglomerate Sun TV’s shares up 10% during intraday:
Sun TV’s shares grew as much as 10% during intraday and closed around 6% higher at the end of the session on account of healthy quarterly earnings. The company said, its Ad revenues are already 75% of pre-COVID levels, while the subscription revenues increased by 18% on a YOY basis. The company invested Rs. 100 crore in Sun NXT OTT platform for producing exclusive content and looks for decent outcome out of it.
Nifty has closed almost at day’s high, giving a definite edge to the bull after a sudden slide on Friday. We are still confident about our view of 11800 before aug expiry.
Our Recommendation of Adani Port at 305 today reached 359. A humongous 20% return in only two weeks.
Our other Recommendation Escort has started up to move with giving day’s high as close. We are extending our targets towards 1350 level for this counter.
To get such unique calls and personalized guidance from SEBI Regd. Research analyst Somnath Dey do get associated with us and feel the difference.
Regrads,
Stock Trading F&O team.