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Markets at a glance:
Sensex rallied over 230 points and closed above the levels of 39000, while Nifty also moved 77 points higher and settled near 11550 for the day. Sectors viz. Bank, Auto, and Media contributed the most in an upward movement of the market along with the index overweight Reliance Industries Ltd.
Top Gainers/Losers:
Tata Motors, Hero Motocorp, IndusInd Bank, Zee Entertainment Enterprises, and Kotak Mahindra Bank were the top gainers of the day under Nifty 50, while Airtel, Ultra-Tech Cement, Asian Paints, Maruti Suzuki, and HDFC Life were the top losers.
DII/FII Data:
DIIs stick to their strategy of selling and took away home a net amount of 1194.62 crore rupees. On the other hand, FIIs continued their inflow and invested Rs.1581.31 crore rupees.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 26-Aug-20 | 3,785.61 | 4,980.23 | -1,194.62 |
| FII/FPI | 26-Aug-20 | 6,857.48 | 5,276.17 | 1,581.31 |
Auto Focus: GST Rate revision likely for 2-Wheelers, Tata Motors extend their gains
FM Nirmala Sitharaman hinted about the GST rate revision for two-wheelers by saying that, 2-W is neither a luxury nor a sin good like tobacco, hence it merits a rate revision. Currently, 2-Wheelers come under the highest bracket of 28%. Sector leader Hero Motocorp raising the same demand since last year to make 2-W under 150 cc category under the slab of 18%.
Investors cheered on the statement made by FM and did heavy buying in 2-W companies. Hero Motocorp, TVS Motors and Bajaj Auto were up by 5%, 4.8%, and 2%, respectively. While in the 4-Wheeler category, Tata Motors continued its momentum based on its plan of becoming debt-free in the next three years.
Digital Marketing firm Affle India hits 5% Upper circuit:
Affle India won the contract from the Singapore Government to build a ‘Digital & Cloud-based Commuter Survey Platform’ for Land Transport Authority (LTA), the company informed exchange today. The news made the stock up by 5% and closed at Rs.2941.4.
Telecom Sector could reduce to Two Companies: Sunil Mittal
Chairman of Bharti Airtel, Mr. Sunil Mittal, said that the Indian telecom sector could reduce to two companies due to the current financial stress faced by the industry. Referring to the financial strain caused by the ongoing AGR dues, he further warned if promotors of the third company couldn’t bring large amounts of fresh capital. Their sustainability will be challenging by not taking the name of Vodafone-Idea limited. He is expecting the ARPU (Avg Revenue per User) of Bharti Airtel to reach the levels of Rs.200 in the next six months.