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Markets at a Glance:
Markets showed high turbulence during today’s session, still managed to end in green colour. Nifty rose by 21 points and settled at 11355, while Sensex grew by 60 points and closed at 38417. In sectors, only FMCG, IT and Media were able to get some gains, while remaining sectors were in the red.
Top Gainers/Losers:
Bharti Infratel continued its 3-day winning rally and grabbed the top spot today too. Others among winners were HDFC Life, Dr Reddys Labs, ITC and Hindustan Unilever. On the other hand, Mahindra & Mahindra, UPL, Bajaj Finance, GAIL and NTPC were among the top losers.
DII/FII Data:
DIIs and FIIs continued their selloff and divested a net amount of Rs.815.82 crore and 6.93 crore respectively.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII ** | 07-Sep-20 | 2,987.83 | 3,803.65 | -815.82 |
| FII/FPI * | 07-Sep-20 | 3,496.26 | 3,503.19 | -6.93 |
Vodafone Idea rebranded as Vi:
India’s biggest telecom merger is now completed with Vodafone Idea’s announcement of new unified brand entity ‘Vi’ – Together for Tomorrow. The company also announced on Friday that it would raise Rs.25000 crore through various means. Its stock closed 2.9% higher today on NSE.
Happiest Minds IPO open from today: Retail quota gets subscribed over 14 times
Backed by renowned promotor Ashok Soota, Happiest Minds IPO got an overwhelming response on 1st day itself. Retail subscription stands at 1400%, while QIB and NII subscription are at 8% and 60% respectively. You can check the live subscription status here.
Vehicle Scrappage policy soon: Nitin Gadkari
Union Road Transport and Highways Minister Nitin Gadkari said that vehicle scrappage policy is in final stages of approval and will be rolled out within a month. He also flagged the procedure as very important for the auto industry’s revival. Further, He said that it could allow India to become an automotive manufacturing hub in the next five years.
The policy aims to provide incentives to retail customers for exchanging their old vehicles. Old vehicles will be recycled, and hence the total cost of raw materials will be reduced. Also, it will boost demand for new cars in COVID-hit economy.