Indices at 10:30 am
▲ Nifty50 12,834 (+0.42%)
▲ Sensex 43,801 (+0.37%)
▲ Nifty Midcap 100 18,552 (+0.57%)
▼ Nifty Smallcap 100 6,082 (-0.10%)
In the news
Vaccine race
- Moderna, a US based biotech company, said on Monday that its vaccine is 94.5% effective in preliminary analysis and can be stored at refrigerator temperature for 30 days.
- The vaccine race is heating up. Just a week back, Pfizer announced that its vaccine candidate is 90% effective. However, a -70 degree Celsius storage requirement for its vaccine is perceived as a storage and logistical challenge.
- The news had a positive effect on US equity markets; the Dow Jones closed 1.60% higher yesterday.
Larsen & Toubro
- Reports suggest that L&T has emerged as the lowest bidder for the ₹3,200 crore project to build a road bridge over the Brahmaputra river.
- It will be one of the longest road bridges over a river in the country and, on completion, will connect two eastern states Assam and Meghalaya.
- The stock is up 0.5% today.
Airlines
- By January 2021, airlines are likely to be permitted to operate at the pre-Covid capacity levels from the existing 70%.
- Airlines resumed operations from May 25 (after a near 2-month hiatus) and were permitted to increase capacity gradually to 70%.
- Indigo and Spicejet are up 0.5% today.
Sectoral indices
- Nifty Metal Index is up 2.3%, mainly on the back of a 5% rise in Tata Steel, which saw high investor interest as the company gets ready to split its European operations and begins talks with SSAB Sweden to sell its Netherlands division.
- Meanwhile Nifty IT index is down 0.65% as heavyweights Infosys and TCS have declined over 0.5% each.
Global markets
- Key Asian markets are trading mixed today - Japanese Nikkei 225 index is at its 29 year high levels and is 0.35% up today, China’s SSE Composite Index (-0.20%) and Hong Kong’s Hang Seng Index (+0.10%).
Fact of the day
One share of Berkshire Hathaway currently costs over $3,48,000. That's a whopping ₹2.5 crore per share, making it one of the most expensive stock in the world.
Source: Investopedia
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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.