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Bulls take charge on D-Street; RIL spurts 7%
(15:29, 04 Aug 2020)

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Key-domestic-benchmarks-surged-on-Tuesday,-snapping-their-four-day-losing-streak.-Rally-in-Reliance-Industries-and-private-banks-pushed-the-indices-higher.-Firmness-in-other-Asian-indices-boosted-sentiment.-

As-per-the-provisional-closing-data,-the-barometer-index,-the-S&P-BSE-Sensex-jumped-748.31-points-or-2.03%-at-37,687.56.-The-Nifty-50-index-rallied-211.10-points-or-1.94%-at-11,102.70.

The-broader-market-lagged-the-benchmarks.-The-S&P-BSE-Mid-Cap-index-gained-1.02%-while-the-S&P-BSE-Small-Cap-index-advanced-1.23%.

The-market-breadth-was-strong.-On-the-BSE,-1637-shares-rose-and-902-shares-fell.-A-total-of-142-shares-were-unchanged.

Foreign-portfolio-investors-(FPIs)-bought-shares-worth-₹-7,818.49-crore,-while-domestic-institutional-investors-(DIIs),-were-net-sellers-to-the-tune-of-₹-135.55-crore-in-the-Indian-equity-market-on-3-August,-provisional-data-showed.

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-18,224,253-with-692,679-deaths.-India-reported-5,86,298-active-cases-of-COVID-19-infection-and-38,938-deaths-while-12,30,509-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

RBI's-Monetary-Policy-Meet:

The-three-day-monetary-policy-meet-headed-by-the-Governor,-Shaktikanta-Das-will-commence-today,-4-August-2020.-The-MPC-will-announce-its-policy-stance-on-Thursday,-6-August-2020.-Investors-and-traders-will-also-keep-an-eye-on-whether-RBI-extends-moratorium-beyond-August-2020.

Buzzing-Index:

The-Nifty-IT-index-fell-0.94%-to-17,797.80,-declining-for-second-day.-

Tech-Mahindra-(down-2.93%),-HCL-Technologies-(down-1.91%),-Larsen-&-Toubro-Infotech-(down-1.73%),-Infosys-(down-1.09%)-and-TCS-(down-0.1%)-were-top-losers-in-IT-pack.

The-media-reported-that-US-President-Trump-has-signed-an-executive-order-restricting-federal-agencies-from-contracting-or-subcontracting-foreign-workers.-The-would-adversely-impact-Indian-IT-professionals-who-work-in-the-US-on-the-H-1B-visa.

Stocks-in-Spotlight:

Index-heavyweight-Reliance-Industries-(RIL)-rose-7.10%-to-2151.15.-

HDFC-Bank-surged-3.7%-after-the-Reserve-Bank-of-India-approved-the-appointment-of-Sashidhar-Jagdishan-as-managing-director-(MD)-&-CEO-of-the-bank-for-three-years.-Jagdishan-will-replace-Aditya-Puri-who-will-retire-as-managing-director-of-the-bank-on-26-October-2020.

Yes-Bank-added-1.92%-after-the-global-credit-ratings-agency-Moody's-Investors-Service-upgraded-the-bank's-long-term-foreign-currency-issuer-rating-to-B3-from-Caa1.-Moody's-said-that-Yes-Bank's-successful-equity-capital-raise-of-₹-15000-crore-(about-$2-billion)-has-bolstered-its-solvency-and-is-the-main-driver-of-the-ratings-upgrade.-The-successful-equity-raising-showcases-Yes-Bank's-regained-access-to-external-market-funds,-which-is-a-result-of-its-improving-financial-strength-and-will-support-depositor-confidence.

Jindal-Steel-&-Power-(JSPL)-was-up-1.8%-after-the-steel-major's-consolidated-production-jumped-13%-to-7.40-lakh-metric-tons-(MT)-in-July-2020-over-July-2019.-Consolidated-steel-sales-grew-25%-(y-o-y)-to-7.62-lakh-MT-in-July-2020.-The-company-reported-a-rise-of-29%-in-standalone-steel-sales-in-July-2020-to-6,37,000-tonnes-as-compared-to-standalone-sales-of-4,93,000-tonnes-in-the-previous-year-during-the-same-period.-JSPL-export-sales-contributed-to-39%-of-the-total-standalone-sales-in-July-2020-to-2,50,000-tonnes.-Standalone-steel-production-rose-13%-(y-o-y)-to-6,03,000-tonnes-in-July-2020.-The-figure-was-disclosed-before-market-hours-today,-4-August-2020.

Dixon-Technologies-(India)-rose-0.26%.-The-company's-consolidated-net-profit-slumped-93%-to-₹-1.60-crore-on-a-55%-decline-in-revenue-from-operations-to-₹-516.94-crore-in-Q1-FY21-over-Q1-FY20.-EBITDA-fell-68%-to-₹-17.10-crore-in-Q1-June-2020-from-₹-53.15-crore-in-Q1-June-2019.-EBITDA-margin-was-at-3.3%-as-on-30-June-2020-as-against-4.6%-as-on-30-June-2019.

Varun-Beverages-gained-4.48%.-The-company's-consolidated-net-profit-slumped-64.69%-to-₹-142.97-crore-on-41.58%-drop-in-revenue-from-operations-to-₹-1,665.69-crore-in-Q2-June-2020-over-Q2-June-2019.-Post-lockdown-restriction-imposed-by-the-Government-of-India-due-to-the-COVID-19-pandemic,-sales-volumes-got-severely-impacted-in-the-last-10-days-of-March-2020-and-through-out-the-second-quarter.-EBITDA-tumbled-52.1%-to-₹-377.70-crore-in-Q2-June-2020-from-₹-787.90-crore-in-Q2-June-2019.-While,-gross-margins-improved-by-300-bps-during-Q2-2020-primarily-due-to-favorable-PET-chips-prices-and-higher-mix-of-CSD.-EBITDA-margin-fell-501-bps-in-Q2-FY2020-compared-with-Q2-FY2019.-

VST-Industries-jumped-7.8%-after-standalone-net-profit-rose-0.03%-to-₹-75.71-crore-on-19.4%-decline-in-net-sales-to-₹-245.39-crore-in-Q1-June-2020-over-Q1-June-2019.-Standalone-profit-before-tax-(PBT)-dropped-13.2%-to-₹-102.02-crore-in-Q1-June-2020-as-against-₹-117.54-crore-in-Q1-June-2019.-Current-tax-expense-for-the-quarter-tumbled-35.4%-at-₹-27.11-crore-as-against-₹-41.99-crore-in-Q1-June-2019.-

Global-Markets:

Most-European-indices-were-trading-lower-while-Asian-stocks-rose-across-the-board-on-Tuesday,-reacting-to-a-slew-of-corporate-earnings-and-latest-manufacturing-data-from-several-countries.

US-stocks-rose-on-Monday,-the-first-trading-day-of-August,-as-Wall-Street-tried-to-build-on-its-four-month-winning-streak.-The-Nasdaq-surged-to-a-record-high-close-on-Monday-as-a-rebound-in-multibillion-dollar-deals,-including-Microsoft's-pursuit-of-TikTok's-U.S.-operations,-lifted-sentiment,-and-efforts-to-hammer-out-a-coronavirus-relief-bill-resumed.

US-stocks-received-an-additional-lift-from-Microsoft,-which-jumped-5.6%-after-it-formally-declared-interest-in-TikTok's-US-operations-on-Sunday.-President-Donald-Trump-reversed-course-earlier-on-a-planned-ban-of-the-short-video-app.-Apple-Inc-climbed-2.5%,-expanding-its-rally-following-stunning-quarterly-results-and-announcing-a-four-for-one-stock-split.

After-wrapping-up-talks-on-Monday-over-another-round-of-coronavirus-economic-stimulus,-US-House-Speaker-Nancy-Pelosi-said-she-will-meet-with-Treasury-Secretary-Steven-Mnuchin-and-White-House-Chief-of-Staff-Mark-Meadows-the-following-day-to-continue-the-discussion.-The-US-economy,-battered-by-a-resurgence-in-the-spread-of-COVID-19,-needs-increased-government-spending-to-tide-over-households-and-businesses-and-broader-use-of-masks-to-better-control-the-virus,-US-central-bankers-said-on-Monday.

US-manufacturing-activity-accelerated-to-its-highest-level-in-nearly-1-1/2-years-in-July-as-orders-increased-despite-a-resurgence-in-new-COVID-19-infections,-which-is-raising-fears-about-the-sustainability-of-a-budding-economic-recovery.

The-ISM-said-its-index-of-national-factory-activity-raced-to-a-reading-of-54.2-last-month-from-52.6-in-June.-That-was-the-strongest-since-March-2019-and-marked-two-straight-months-of-expansion.

Meanwhile,-US-President-Donald-Trump-reportedly-said-after-the-market-close-that-a-permanent-lockdown-policy-is-not-a-viable-path-forward-to-combating-the-coronavirus-pandemic

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Key-domestic-benchmarks-surged-on-Tuesday,-snapping-their-four-day-losing-streak.-Rally-in-Reliance-Industries-and-private-banks-pushed-the-indices-higher.-Firmness-in-other-Asian-indices-boosted-sentiment.-

As-per-the-provisional-closing-data,-the-barometer-index,-the-S&P-BSE-Sensex-jumped-748.31-points-or-2.03%-at-37,687.56.-The-Nifty-50-index-rallied-211.10-points-or-1.94%-at-11,102.70.

The-broader-market-lagged-the-benchmarks.-The-S&P-BSE-Mid-Cap-index-gained-1.02%-while-the-S&P-BSE-Small-Cap-index-advanced-1.23%.

The-market-breadth-was-strong.-On-the-BSE,-1637-shares-rose-and-902-shares-fell.-A-total-of-142-shares-were-unchanged.

Foreign-portfolio-investors-(FPIs)-bought-shares-worth-₹-7,818.49-crore,-while-domestic-institutional-investors-(DIIs),-were-net-sellers-to-the-tune-of-₹-135.55-crore-in-the-Indian-equity-market-on-3-August,-provisional-data-showed.

COVID-19-Update:

Total-COVID-19-confirmed-cases-worldwide-stood-at-18,224,253-with-692,679-deaths.-India-reported-5,86,298-active-cases-of-COVID-19-infection-and-38,938-deaths-while-12,30,509-patients-have-been-discharged,-according-to-the-data-from-the-Ministry-of-Health-and-Family-Welfare,-Government-of-India.

RBI's-Monetary-Policy-Meet:

The-three-day-monetary-policy-meet-headed-by-the-Governor,-Shaktikanta-Das-will-commence-today,-4-August-2020.-The-MPC-will-announce-its-policy-stance-on-Thursday,-6-August-2020.-Investors-and-traders-will-also-keep-an-eye-on-whether-RBI-extends-moratorium-beyond-August-2020.

Buzzing-Index:

The-Nifty-IT-index-fell-0.94%-to-17,797.80,-declining-for-second-day.-

Tech-Mahindra-(down-2.93%),-HCL-Technologies-(down-1.91%),-Larsen-&-Toubro-Infotech-(down-1.73%),-Infosys-(down-1.09%)-and-TCS-(down-0.1%)-were-top-losers-in-IT-pack.

The-media-reported-that-US-President-Trump-has-signed-an-executive-order-restricting-federal-agencies-from-contracting-or-subcontracting-foreign-workers.-The-would-adversely-impact-Indian-IT-professionals-who-work-in-the-US-on-the-H-1B-visa.

Stocks-in-Spotlight:

Index-heavyweight-Reliance-Industries-(RIL)-rose-7.10%-to-2151.15.-

HDFC-Bank-surged-3.7%-after-the-Reserve-Bank-of-India-approved-the-appointment-of-Sashidhar-Jagdishan-as-managing-director-(MD)-&-CEO-of-the-bank-for-three-years.-Jagdishan-will-replace-Aditya-Puri-who-will-retire-as-managing-director-of-the-bank-on-26-October-2020.

Yes-Bank-added-1.92%-after-the-global-credit-ratings-agency-Moody's-Investors-Service-upgraded-the-bank's-long-term-foreign-currency-issuer-rating-to-B3-from-Caa1.-Moody's-said-that-Yes-Bank's-successful-equity-capital-raise-of-₹-15000-crore-(about-$2-billion)-has-bolstered-its-solvency-and-is-the-main-driver-of-the-ratings-upgrade.-The-successful-equity-raising-showcases-Yes-Bank's-regained-access-to-external-market-funds,-which-is-a-result-of-its-improving-financial-strength-and-will-support-depositor-confidence.

Jindal-Steel-&-Power-(JSPL)-was-up-1.8%-after-the-steel-major's-consolidated-production-jumped-13%-to-7.40-lakh-metric-tons-(MT)-in-July-2020-over-July-2019.-Consolidated-steel-sales-grew-25%-(y-o-y)-to-7.62-lakh-MT-in-July-2020.-The-company-reported-a-rise-of-29%-in-standalone-steel-sales-in-July-2020-to-6,37,000-tonnes-as-compared-to-standalone-sales-of-4,93,000-tonnes-in-the-previous-year-during-the-same-period.-JSPL-export-sales-contributed-to-39%-of-the-total-standalone-sales-in-July-2020-to-2,50,000-tonnes.-Standalone-steel-production-rose-13%-(y-o-y)-to-6,03,000-tonnes-in-July-2020.-The-figure-was-disclosed-before-market-hours-today,-4-August-2020.

Dixon-Technologies-(India)-rose-0.26%.-The-company's-consolidated-net-profit-slumped-93%-to-₹-1.60-crore-on-a-55%-decline-in-revenue-from-operations-to-₹-516.94-crore-in-Q1-FY21-over-Q1-FY20.-EBITDA-fell-68%-to-₹-17.10-crore-in-Q1-June-2020-from-₹-53.15-crore-in-Q1-June-2019.-EBITDA-margin-was-at-3.3%-as-on-30-June-2020-as-against-4.6%-as-on-30-June-2019.

Varun-Beverages-gained-4.48%.-The-company's-consolidated-net-profit-slumped-64.69%-to-₹-142.97-crore-on-41.58%-drop-in-revenue-from-operations-to-₹-1,665.69-crore-in-Q2-June-2020-over-Q2-June-2019.-Post-lockdown-restriction-imposed-by-the-Government-of-India-due-to-the-COVID-19-pandemic,-sales-volumes-got-severely-impacted-in-the-last-10-days-of-March-2020-and-through-out-the-second-quarter.-EBITDA-tumbled-52.1%-to-₹-377.70-crore-in-Q2-June-2020-from-₹-787.90-crore-in-Q2-June-2019.-While,-gross-margins-improved-by-300-bps-during-Q2-2020-primarily-due-to-favorable-PET-chips-prices-and-higher-mix-of-CSD.-EBITDA-margin-fell-501-bps-in-Q2-FY2020-compared-with-Q2-FY2019.-

VST-Industries-jumped-7.8%-after-standalone-net-profit-rose-0.03%-to-₹-75.71-crore-on-19.4%-decline-in-net-sales-to-₹-245.39-crore-in-Q1-June-2020-over-Q1-June-2019.-Standalone-profit-before-tax-(PBT)-dropped-13.2%-to-₹-102.02-crore-in-Q1-June-2020-as-against-₹-117.54-crore-in-Q1-June-2019.-Current-tax-expense-for-the-quarter-tumbled-35.4%-at-₹-27.11-crore-as-against-₹-41.99-crore-in-Q1-June-2019.-

Global-Markets:

Most-European-indices-were-trading-lower-while-Asian-stocks-rose-across-the-board-on-Tuesday,-reacting-to-a-slew-of-corporate-earnings-and-latest-manufacturing-data-from-several-countries.

US-stocks-rose-on-Monday,-the-first-trading-day-of-August,-as-Wall-Street-tried-to-build-on-its-four-month-winning-streak.-The-Nasdaq-surged-to-a-record-high-close-on-Monday-as-a-rebound-in-multibillion-dollar-deals,-including-Microsoft's-pursuit-of-TikTok's-U.S.-operations,-lifted-sentiment,-and-efforts-to-hammer-out-a-coronavirus-relief-bill-resumed.

US-stocks-received-an-additional-lift-from-Microsoft,-which-jumped-5.6%-after-it-formally-declared-interest-in-TikTok's-US-operations-on-Sunday.-President-Donald-Trump-reversed-course-earlier-on-a-planned-ban-of-the-short-video-app.-Apple-Inc-climbed-2.5%,-expanding-its-rally-following-stunning-quarterly-results-and-announcing-a-four-for-one-stock-split.

After-wrapping-up-talks-on-Monday-over-another-round-of-coronavirus-economic-stimulus,-US-House-Speaker-Nancy-Pelosi-said-she-will-meet-with-Treasury-Secretary-Steven-Mnuchin-and-White-House-Chief-of-Staff-Mark-Meadows-the-following-day-to-continue-the-discussion.-The-US-economy,-battered-by-a-resurgence-in-the-spread-of-COVID-19,-needs-increased-government-spending-to-tide-over-households-and-businesses-and-broader-use-of-masks-to-better-control-the-virus,-US-central-bankers-said-on-Monday.

US-manufacturing-activity-accelerated-to-its-highest-level-in-nearly-1-1/2-years-in-July-as-orders-increased-despite-a-resurgence-in-new-COVID-19-infections,-which-is-raising-fears-about-the-sustainability-of-a-budding-economic-recovery.

The-ISM-said-its-index-of-national-factory-activity-raced-to-a-reading-of-54.2-last-month-from-52.6-in-June.-That-was-the-strongest-since-March-2019-and-marked-two-straight-months-of-expansion.

Meanwhile,-US-President-Donald-Trump-reportedly-said-after-the-market-close-that-a-permanent-lockdown-policy-is-not-a-viable-path-forward-to-combating-the-coronavirus-pandemic

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