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Markets closed for the week on a positive note, with Nifty and Sensex moving up by 59 and 214 points (almost 0.5%) today. All sectoral indices were in the green today except media, metal and IT. The small caps outperformed the critical index in today’s session with the index ending 1% higher, while Midcaps stuck with benchmarks and ended 0.5% higher.
Power sector PSUs NTPC and PowerGrid were again the top winners today joined by Asian Paints, HDFC Bank, and 2-W major Hero Motocorp. On the other hand, Zee Entertainment, Hindalco, Bharati Airtel, ONGC and Tata Steel were among the top losers on NSE.
DII/FII Data:
DII kept its sell-off strategy and divested Rs. 250.65 crores. While FIIs are enthusiastic again and invested Rs. 410.16 crores, as per data available on the NSE website.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 21-Aug-20 | 4,277.43 | 4,528.08 | -250.65 |
| FII/FPI | 21-Aug-20 | 3,975.11 | 3,564.95 | 410.16 |
Max Healthcare Institute Ltd closed 5% higher on listing day:
India’s second-largest hospital chain (right after Apollo hospitals), Max Healthcare, created after a merger with the healthcare business of Radiant Life Care Ltd., listed today on NSE and BSE. The stock hit a 5% upper circuit within an hour of the market session on BSE.
Indian stock market is disconnected with real economy, says RBI Governor:
RBI Governor Shaktikanta Das warned today that India’s stock markets are not in sync with the real economy, and there will be a market correction, but he’s not sure when.
Bharti Infratel and Zee Entertainment won’t be part of Nifty 50:
NSE has announced in its latest semi-annual review of indices that SBI Life Insurance and Divi’s Laboratories will replace Bharti Infratel and Zee Entertainment Enterprises in the benchmark Nifty 50 index.
Bankrupt Videocon and Rcom’s AGR dues hovering around Airtel and Jio:
Supreme Court is making Airtel and Jio liable for the AGR dues of bankrupt telcos Videocon and Reliance Communications Ltd’s (Rcom), respectively, as latter’s spectrums are being used by former. Though the Supreme Court didn’t pass any order in this regard, if it does that, it will be a big blow to Airtel and Reliance Jio.
Videocon has sold its access spectrum in the 1800 megahertz band to Airtel, while Reliance Jio has been using bankrupt RCom’s spectrum under a sharing agreement since 2016. Rcom has pending dues of Rs.25199 crores which can come on Jio’s balance sheet, while Videocon has dues of Rs.1376 crores which may increase headache for Airtel as it already have dues of Rs.43980 crores.