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Markets at a glance:
Nifty and Sensed closed today flat gaining by 9 points and 39 points respectively. This was a 5th straight session in green. On the sectoral front, Nifty Realty grew the most 6.4% and FMCG and IT were the closed red today.
Top Gainers/Losers:
IndusInd Bank, Mahindra & Mahindra, Tata Motors, SBI, and Grasim Industries were the top gainers today. On the other hand, ONGC, RIL, Bajaj-Auto, Zee Entertainment Enterprises, and Coal India were among the top losers today.
Tata Motors kept its winning momentum, while IndusInd bank & SBI got the push because of positive ratings from a global analyst like UBS, Goldman Sachs, etc.
DII/FII Data:
FIIs infuse a net amount of Rs.1164.32 crore, while DIIs stick to their profit-booking strategy and divested Rs.809.27 crore.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 27-Aug-20 | 3,339.96 | 4,149.23 | -809.27 |
| FII/FPI | 27-Aug-20 | 6,625.39 | 5,461.07 | 1,164.32 |
Maharashtra State Govt stamp duty 2% till Dec 2020:
Maharashtra state cabinet reduces the existent 5% stamp duty to 2% till Dec 2020 and 3% between Jan 2021 to Mar 2021 for the Real Estate sector.
The move may increase the job opportunities in the informal sector and lift the overall economy as many sectors like cement, steel, etc. are correlated with the real estate industry. The same decision is likely to be taken by other state governments too. The news gave a significant boost to real estate stocks today in the market.
Government selling 15% of its stake in defence firm HAL:
Offer for Sale (OFS) of Hindustan Aeronautics Limited (HAL) is opened for subscription today. The government owns an 89.97% stake, will reduce 15% and sell it to institutional and retail investors. The stock falls 14% in a single trading session.
RBI has not exhausted its ammunition, says Governor Shaktikanta Das:
Speaking at an event, RBI Governor said that the Indian economy remains much stronger amid COVID-19 than it was during the global financial crisis a decade ago. He further said that the RBI had not exhausted its ammunition, whether in rate cuts or other policy actions to deal with the current pandemic situation.
Debt-to-Gross Domestic Product (GDP) ratio, fiscal deficit, and current account deficit were under much better control this time, as per the Governor’s view. He also asked banks and NBFCs to do a COVID stress test and to look at sunrise sectors.
Blue Star gets Rs.149 crore order from Mumbai Metro:
Air conditioner firm ‘Blue Star’ up by 8.9% in today’s session and closed at Rs.677.5 after bagging an order for electrical and mechanical works of Rs.149 crore from Mumbai Metro. The five underground stations for which the order has been received are Mumbai Central, Mahalaxmi, Science Museum, Acharya Atre Chowk, and Worli, as per the regulatory filing done by the company.