· Reserve Bank of India commences improvement procedure in the FI-Index of the stock market. The index includes the financial aspects of the insurance, investments etc., sectors to find the suitability of services.
· The market sentiment on 17thAugust 2021 has remained neutral in India. A profit booking session has been seen in the Banking Stocks. Bank Nifty Index has been observed to be traded in red for the day.
· Indian stock markets hit their all-time highs on 13thAugust 2021. Nifty hit 16,500 and BSE Sensex hit above 55,000 level. Currently, the market is trading on a similar level.
· Indian markets are at their all-time highs while few stocks are recovering from the fatal effects of the Covid-19 2ndwave.
· According to the Retailers Association of India, the retail sales in July 2021 has been 72% up. This data has been compared to the sales percentage before the pandemic.
· Indian rupee opens 3 paise weaker than US dollar in the currency market.
· Trading session in the market today has been observed as flat trading with an average sell-off in banking stocks.
Big Boomers: 17thAugust
IT industry lifted the market to reach a new level in Nifty -16600. The stock-specific action in the IT industry has been shown below:
Infosys
Infosys is a multinational service provider for business consultation, outsourcing and IT Services. The current stock price of Infosys is 1,734 listed in NSE/BSE as the symbol INFY. INFY is a quality stock in the IT industry which is values at an expensive valuation from the market end. In the news, Infosys is in continuous talks to invest in Tidal Scale Inc at $0.45 million. The current market capitalization of Infosys stands at 741,783 (Rs. Cr.). With the previous close of 1,704 in the stock price on 16thAugust, the stock gained around 40 plus points in the trading session. The price is closed at 1,741.65 on 17thAugust.
Wipro
Wipro Limited is a technology company providing its services for global clients in consulting and business processes. It has been noted that it is ranked as the 29thlargest company by its revenue (Fortune India 500). With the 3.40% gain from the previous close of 614.05 the current stock of Wipro is priced at 634.90 per share. The current market capitalization of Wipro is 347,878 (Rs. Cr.). The company is one of the top gainers on 17thAugust trading session.
HLC Tech
HCL Tech is a technology service provider which helps the global enterprise in technology transformation and development. HCL tech’s stock price is traded at 1142 in the recent market. The market capitalization of the company is 309697. Price and volume growth in the company is depicting positive returns to the past investors. HCL tech is one of the competitors with the IT giant-Infosys.
Top Movers
The stocks listed below are the quality stocks of the Indian market which have attractive and strong shareholding patterns:
Titan Company
Titan Company Ltd. is an Indian company that is known for manufacturing and selling luxury products. The share of the company is listed both on NSE and BSE. In the latest session of trading, the stock has managed its levels at 1874.45 with an increase of 37.35 points. There is a strong shareholding and an increased chart pattern in the stock.
Dabur India
Dabur Limited is a leading brand in India that brings to its customers’ wide range of Herbal products. The share of the company is listed on both exchanges with an increased share price of 596.60 in the current trading session. The company has strong market visibility and chart pattern.
Bajaj Finance
Bajaj Finances Limited is one of the Bajaj groups companies which have diversification in the Indian market for lending business. BFL is considered a profitable company with an increased share price of 6,410 in the current session.