Live Stock Market Updates: Nifty off day's low

Nifty is off its day’s low. ITC and Reliance has been lending support for the Nifty’s up-move from low point of the day. Nifty Pharma is top gaining index among the sectoral indices on NSE. The index is trading at 8,542 level, up by 52 points.
 
Dr Reddy’s is top gainer in the index trading at Rs 1,975.95 per share, up by 2.32%. Lupin and Divi’s Lab are also trading in positive territory higher by more than 1%.
 
At 12 PM, the S&P BSE Sensex is trading at 31,366 up 107 points, while Nifty is trading at 9,795 up 41 points. A total of 15 stocks registered a fresh 52-week high in trade today, while 48 stocks touched a new 52-week low on the NSE.

Apex Frozen Foods’ IPO to open for subscription today

Apex Frozen Foods, a profitable integrated producer & exporter of shelf stable quality aquaculture products with over two decades of experience, announced an Initial Public Offering (IPO) to finance its expansion program.
 
The IPO of up to 87,00,000 equity shares of face value of Rs 10 each for cash at a premium offered through a book-building route at a price-band of Rs 171 – Rs 175 per equity share aggregating Rs 148.77 crore – Rs 152.25 crore.
 
The issue will comprise of fresh issue of 7,250,000 equity shares and an offer for sale of 1,450,000 equity shares by the promoter & promoter group members. The book running lead manager is Karvy Investor Services Limited. The IPO would open for public subscription on 22nd August and close on 24th August with the subscription for anchor investors opening on 21st August 2017. The shares will be listed on NSE and BSE.
 
Apex Frozen Foods Limited proposes to utilise the net proceeds from the fresh Issue towards the setting up a new shrimp processing unit with a proposed capacity of 20,000 MTPA at East Godavari District, Andhra Pradesh and for general corporate purposes.
 
The company’s total revenues grew from Rs 2,554.8 million in fiscal 2013 to Rs 7,096.8 million in fiscal 2017 with a return on net worth of 25.22% in fiscal 2017. The company has a sizeable farming operation spread across 1,337.69 acres of land.

F&O: Nifty may head downwards if breaches 9,685

Benchmark indices, Nifty and Sensex are likely to open with marginal gains on Tuesday on the back of positive start for Asian markets and the SGX Nifty, which was trading at 9,806 with gains of 33 points.
 
Major indices in the market ended near 2-week closing low on Monday. Nifty closed at 9,754 level, down by 83 points while Sensex closed at 31,258 level, down by 265 points. There were 521 advances, 1,161 declines and 287 unchanged stocks on NSE reflecting strong negative sentiments floating in the market. India VIX ended at 14.77 level, up by 1.38%.
 
Now going forward Nifty50 has major support around the level of 9,685 which is the recent swing low and if this swing low is breached then it may head towards levels of 9,630-9,600. On the other hand, 9,800 and 9,850 will not act as a stiff resistance.
 
On the options front, maximum open positions were added in the August series call options at strike level of 9,800. There was maximum call selling at this strike which signals cap to the Nifty’s up-move. On the put side, the same strike price witnessed maximum buying.
 
Nifty futures of August series ended at premium of 10 points. It had ended at premium of 17 points in previous trading session.

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Indian markets may open positive on encouraging cues from global peers

Indian equity markets are poised to open on a positive territory on Tuesday, following positive sentiments prevailing in the Asian markets. The SGX Nifty, which was trading at 9,806 with gains of 33 points, is signifying positive start for the day.
 
Now, going forward, Nifty50 has major support around the level of 9,685 which is the recent swing low, and if this swing low is breached, than it may head towards the levels of 9,630-9,600. On the other hand, 9,800 and 9,850 will act as stiff resistance levels.
 
Back home, Indian market extended their losing streak on Monday on account of weakness in global markets and sharp decline in index heavyweight Infosys, which weighed on the sentiment on the domestic bourses. Sensex dropped 266 points to close at 31,259 and Nifty tumbled 83 points to settle at 9,754.
 
The US stock market indices closed mostly higher on Monday, with the Dow Industrial Average and S&P 500 eking out slight gains. The Dow Jones Industrial Average gained 29 points to 21,704 and the S&P 500 edged up 3 points to 2,428, while the tech-laden Nasdaq Composite Index edged down 3 points to 6,213. 
 
Majority of Asian markets were trading on positive territory at the open on Tuesday. Hong Kong's Hang Seng has risen 260 points, Japan’s Nikkei 225 has advanced 2 points, while China’s Shanghai Composite has lost 11 points.