Tue, 14 Sep 09:30 am
Asian share markets opened higher today but gave up gains as investors awaited US inflation data due later in the day.
The Hang Seng is down 0.2% while the Nikkei is up 0.7%. The Shanghai Composite is trading on a flat note.
In US stock markets, Wall Street indices managed to end a wobbly day mostly higher as the market regrouped after its biggest weekly drop since June as investors focused on potential corporate tax hikes and upcoming economic data.
Back home, Indian share markets have opened on a positive note, following the trend on SGX Nifty.
Ami Organics and Vijaya Diagnostic Centre are set to debut on the bourses today after closing public issues earlier this month.
IndusInd Bank and Dr Reddy’s Lab are among the top gainers today.
UltraTech Cement, on the other hand, is among the top losers today.
Both, the BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.6%.
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All sectoral indices are trading in green with stocks in the power sector and realty sector witnessing most of the buying interest.
Shares of Atul and Voltas hit their 52-week highs today.
The rupee is trading at 73.62 against the US$.
Gold prices are trading down by 0.1% at Rs 46,879 per 10 grams.
Meanwhile, silver prices are trading down by 0.2% at Rs 63,169 per kg.
Crude oil prices extended gains today, hovering near a six-week high, on signs that another storm could affect output in Texas this week even as the US industry struggles to return production after Hurricane Ida wreaked havoc on the Gulf Coast.
Speaking of stock markets, India’s #1 trader Vijay Bhambwani talks about how to profit from market cycles, in his latest video for Fast Profits Daily.
Tune in to the video below to find out more:
Hindustan Unilever is live testing its digital store for consumers as the Covid-19 pandemic prompted people to turn online to buy everything from groceries to medicines.
In a statement, the company said,
- UShop, a web store, is being tested in Delhi and Mumbai to facilitate digital commerce for the brands.
The in-market tests have led to some early learning and we are now in the process of scaling this to more cities that will allow us to increase serviceability to our consumers.
HUL said that the pandemic has led to an uptick in e-commerce penetration with many first-time shoppers.
The launch of UShop web store comes after it tied up with Reliance Industries’ Jiomart for distribution of products.
The company further clarified that UShop won’t be integrated with its Shikhar app – an online business-to-business platform for retailers to place orders.
HUL had earlier launched MyKirana, a brand agnostic hyperlocal marketplace; while UShop sells only the company’s own products.
In other news, most of the brokerage houses have maintained a bullish view on HUL after an investor meet.
In this meet, HUL highlighted its lead on various counts including digital, market development and the thrust on building categories of the future.
HUL share price has opened the day up by 0.1%.
Speaking of HUL, here’s an interesting data on the stock, between 2002 to 2010, HUL’s stock price went nowhere…have a look at the chart below:
The stock was basically in an 8 year coma. The returns could barely even make up for the inflation.
However, over the 2010 to 2020 period, HUL delivered a whopping return of 30% CAGR!
Back in November 2020, Rahul Shah had recorded a video on why you should skip stocks like Nestle and HUL.
In the video, Rahul Shah discussed why he preferred a little known stock over HUL and how he was proven right.
You can watch the video here: Don’t Let Brokerages Fool You into Buying HUL & Nestle. The Real Money is in These Stocks Right Now…
Moving on, in latest developments from the IPO space, after the first attempt to appoint legal advisor for the initial public offering (IPO) of Life Insurance Corporation (LIC) failed, the government has amended the fee structure for law firms to make the offer attractive.
The Department of Investment and Public Asset Management (DIPAM) has introduced “milestone payments” by amending its request for proposal (RFP) for engagement of legal advisors for the LIC IPO.
Earlier, the legal advisors were supposed to get their fee after successful and satisfactory completion of the transaction. Now, the successful law firm will receive 50% of the fee after filing of the DRHP and the remaining half post listing.
This comes after the government did not receive adequate response from law firms for assisting in the LIC IPO.
Law firms will have to submit their bids by 16 September. The selected law firm will have to prepare the DRHP, RHP and the final prospectus for filing with the markets regulator and the stock exchanges.
There’s more. The government is also mulling to align the rules of surplus distribution of LIC with those of its private counterparts.
LIC is governed by a special law, which currently allows to transfer only 5% of its surplus to the funds of shareholders. Rest of the 95% flows into the policyholder’s fund in order to pay bonus on eligible life insurance policies.
The said ratio is 90:10 when it comes to other life insurance companies which are regulated by the Insurance Act.
The government aims to bring parity to make the investment into LIC an attractive offer, ahead of the planned IPO.
We will keep you updated on the latest developments from this space. Stay tuned.
To know what’s moving the Indian stock markets today, check out the most recent share market updates here.
For information on how to pick stocks that have the potential to deliver big returns,
What else is happening in the markets today? Dig in…
Stock Market Updates
Sep 14, 2021 12:30 pm
BSE Sensex is trading up by 200 points, while the NSE Nifty is up by 60 points.
Sep 14, 2021 10:42 AM
JSW ENERGY share price has hit a 52-week high. It is presently trading at Rs 308. BSE 500 Index is up by 0.6% at 23,761. Within the BSE 500, JSW ENERGY (up 5.0%) and ZEE ENTERTAINMENT (up 21.4%) are among the top gainers, while top losers are DHFL and CORPORATION BANK.
Sep 14, 2021 10:00 AM
IDFC share price is trading down by 5% and its current market price is Rs 57. The BSE 500 is up by 0.5%. The top gainers in the BSE 500 Index are ZEE ENTERTAINMENT (up 22.4%) and YES BANK (up 10.6%). The top losers are IDFC (down 5.2%) and DHFL (down 10.0%).
Sensex Opens 200 Points Higher; IndusInd Bank, Axis Bank & Dr Reddy’s Lab Among Top Gainers (Today’s Market)
Sep 14, 2021 09:30 am
Indian share markets open in green. The BSE Sensex opened up by 232 points, while the Nifty is trading higher by 64 points.
Sep 14, 2021 09:38 AM
ZENSAR TECHNOLOGIES share price has hit a 52-week high. It is presently trading at Rs 498. BSE 500 Index is up by 0.5% at 23,756. Within the BSE 500, ZENSAR TECHNOLOGIES (down 15.0%) and ZEE ENTERTAINMENT (up 15.0%) are among the top gainers, while top losers are DHFL and ALLCARGO LOGISTIC.
Sep 14, 2021 09:38 AM
INDRAPRASTHA GAS share price has hit a 52-week high. It is presently trading at Rs 604. BSE 500 Index is up by 0.5% at 23,756. Within the BSE 500, INDRAPRASTHA GAS (up 0.5%) and ZEE ENTERTAINMENT (up 15.0%) are among the top gainers, while top losers are DHFL and ALLCARGO LOGISTIC.