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Markets at a glance:
Markets closed almost flat today with marginal up movement. After a series of ups and downs during intraday, Nifty closed just 5.8 points higher at 11472.25 and Sensex gained 44.8 points making the index close at 38843.88. The index was dragged by sectors viz. Realty, Pharma, Metal, IT, and FMCG. While the same was supported by Nifty bank including PSU and Pvt, Fin Services, and Media sectors.
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Top Gainers/Losers:
Auto majors Tata Motors and Eicher Motors were the top performers of today along with Bajaj Finance, SBI, and Tech Mahindra. On the other hand, GAIL, NTPC, Sun Pharma, Tata Steel, and Dr Reddy’s Laboratories were among the top losers.
DII/FII Data:
Heavy inflow was observed today from FIIs aggregating up to Rs.1481.2 crore, while DII divested a net amount of Rs.172.97 crores, as per data available on NSE.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 25-Aug-20 | 3,913.03 | 4,086.00 | -172.97 |
| FII/FPI | 25-Aug-20 | 5,640.95 | 4,159.75 | 1,481.20 |
Tata Motors AGM: Zero Debt levels in next three years, Says N Chandrasekaran
Chairman of Tata Sons, N Chandrasekaran reiterated Tata Motor’s plan to become debt-free in the next three years. At present, the company has a net debt of Rs.48000 crore. Investors cheered this ambitious target and took stock 5% higher, making it a top gainer of the day in today’s market.
RBI Announces Operation Twist:
RBI will conduct a simultaneous purchase and sell of Government securities under Open Market Operations (OMO) for a net amount of Rs.20000 crores in two tranches. These auctions will schedule on Aug 27 and Sept 3.
The objective of such operations is to raise the short-term bond yields and reduce the significant long-term bond yields. ‘Operation Twist’ is a monetary policy tool that was first used by the US Federal Reserve in 1961 after the Korean War led recession.
IT Services Company ‘Happiest Minds Tech’ gets SEBI’s nod for an IPO:
Happiest Minds Technologies will be launching an IPO to raise a sum of Rs.110 crores by offering 3.56 crore equity shares. The company has filed DRHP with SEBI and received the regulator’s approval.