Stock market morning update 14 january 2021
Indices at 10:00 am
Nifty50 14,513 ▼ 51 (-0.35%)
Sensex 49,338 ▼ 154 (-0.3%)
Nifty
Bank 32,598 ▲ 23 (0.0%)
MORNING UPDATE
Government to sell stake in SAIL via OFS
The government plans
to sell 5% of the total equity (over
20 crore shares) in the country’s largest steel producer via an offer for sale
(OFS). There is a provision to divest an additional 5% as well. The government
currently has a 75% stake in the company.
The floor price for
the OFS has been set at ₹64 per share, which is a 13.6% discount to Wednesday's
closing price. This has triggered a sharp drop in SAIL’s shares, which are
trading 8.7% lower today.
Hindustan Aeronautics bags Tejas order
The government has
approved the purchase of 83 Tejas light combat aircraft from
Hindustan Aeronautics (HAL). The size of the order is pegged at ₹48,000 crore.
This order is the
biggest contract awarded to India’s homegrown military aviation industry and
will give fillip to the Atmanirbhar Bharat initiative. Shares of HAL rose 8.0%
today, supported by heavy volumes.
Indian Bank raises ₹2,000 crore
State-owned Indian
Bank has reported that it has raised ₹2,000 crore through
private placement of bonds. Its shares were up by 0.5% today.
Major PSU Banks have
seen a surge in investor interest this week. The Nifty PSU Bank index is upbeat
for the third day in a row and is up 0.3% today.
IT stocks see profit-booking
Shares of IT majors
Infosys (-3.5%) and Wipro (-4.1%) witnessed profit-booking after reporting
their Q3 results, which were better than street estimates.
Both the stocks had
seen run-up to the results and had gained 10% and 19%, respectively, so far in
January. These gains came after a nearly 24% rise in Q3.
Thursday: WPI
Inflation (India), Initial jobless claims (US)
|
Top gainers |
Top losers |
|
Nifty FMCG |
Nifty IT |
|
Nifty PSU Bank |
Nifty Metal |
CLICK HERE TO OPEN YOUR FREE DEMAT ACCOUNT
IN UPSTOX
|
Global markets |
Today's movement |
|
Nikkei 225 (Japan) |
▲ 1.7% |
|
Hang Seng (Hong Kong) |
▲ 0.4% |
|
SSE Composite (China) |
▼ 0.2% |
|
Dow Jones (US) |
▼ 0.0% |
We shake hands to show
we’re unarmed.
Source: Men’s Health
If you haven't already, open your Upstox account to get IPO-
ready today! Clickhere to sign up.
Investment in securities markets are
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.
Upstox Team
Authorised Partner
Labels: Morning Update
posted by JAVED CHILLIMUTTUR @ January 14, 2021
0 Comments
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home