stock market morning updates for 7 january 2021
Indices at 10:00 am
Nifty50 14,225 ▲ 78 (+0.5%)
Sensex 48,400 ▲ 226 (+0.4%)
Nifty
Bank 32,033 ▲ 235 (+0.7%)
MORNING UPDATE
NMDC hikes prices
State-owned iron ore
producer NMDC has hiked prices of
lump ore by 10% and fines by 4%, from yesterday. Prices were previously hiked
on 15 December.
Shares of NMDC have
gained nearly 40% in Q3 and are already up 10% this month.
NCL’s cement dispatches jump
The south-based cement
maker's cement dispatches rose 45% YoY, in Q3. It even saw an increase in
ready-mix concrete sales by 36% and cement board dispatches by 22%.
Shares of NCL were up
4.1% today. Bullish trends were also seen in other south-based cement makers
such as Dalmia Bharat (+2.5%), Ramco Cements Ltd (+2.0%), Sagar Cements (+1.6%)
and India Cements (+0.8%).
Maharashtra slashes real estate levies
Maharashtra has
decided to cut construction premiums by 50% for
a period of one year upto 31 December 2021. The state collects 22 premiums
under heads such as staircases, lift well, and lobbies.
The drop in levies
will reduce construction costs, which is likely to make housing
cheaper. Shares of Maharashtra-based developers such as Godrej Properties
(+2.8%), Oberoi Realty (+3.4%), Sunteck Realty (+3.9%), and Kolte Patil (+3.5%)
were up today.
Dixon spurts on new deal
Contract manufacturer
Dixon Technologies has inked an agreement with boAt,
an electronics lifestyle brand. Dixon will manufacture twin wireless speakers
for boAt.
Shares of Dixon hit
lifetime high today and rose 3.9%. The stock has been upbeat in 2020 having
gained 253%.
Sectoral indices
|
Top gainers |
Top losers |
|
Nifty Metal |
Nifty IT |
|
Nifty Realty |
Nifty Pharma |
|
Global markets |
Today's movement |
|
Nikkei 225 (Japan) |
▲ 1.8% |
|
Hang Seng (Hong Kong) |
▼ 0.4% |
|
SSE Composite (China) |
▲ 0.3% |
|
Dow Jones (US) |
▲ 1.4% |
Fact of the day
We breathe roughly 25,000
times a day. But few of us are good at it.
Source: Spectator
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subject to market risks; please read all the related documents carefully before
investing. The securities quoted are exemplary and are not recommendatory. Past
performance is not indicative of future results. Details provided in the above
newsletter are for educational purposes and should not be construed as
investment advice by RKSV group. Investors should consult their investment
advisor before making any investment decision.
posted by JAVED CHILLIMUTTUR @ January 07, 2021
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