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Closing Bell: Sensex, Nifty end flat; realty, IT top drags

August 23, 2024· 16:02 IST

Market Today

August 23, 2024· 16:03 IST

Market Close | Sensex, Nifty end flat

Indian benchmark indices ended flat in the volatile session on August 23. At close, the Sensex was up 33.02 points or 0.04 percent at 81,086.21, and the Nifty was up 11.70 points or 0.05 percent at 24,823.20.

We wrap up today's edition of the Moneycontrol live market blog, and will be back Monday morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.

August 23, 2024· 16:02 IST

Market This Week

#1 Market ends higher for the second straight week

#2 Frontline indices rise 1 percent each, Nifty midcap outperforms

#3 All sectoral indices, ex-Nifty Realty end with gains, Nifty Metal up more than 3 percent

August 23, 2024· 15:51 IST

Vinod Nair, Head of Research, Geojit Financial Services

Ahead of the FED chair Powell’s speech, the Indian indices oscillated around the flat trajectory and mixed global market sentiments further catalysed this scenario. Meanwhile, investors are exercising caution and awaiting Powell’s signals for more insights on the interest rate path. Most of the sectoral indices remained in red; in contrast, the auto sector excelled as the industry is preparing for festive season demand with multiple launches.

August 23, 2024· 15:47 IST

Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

Nifty opened on a flat note and consolidated during the day to close with gains of ~12 points. On the daily charts we can observe that the Nifty has closed positive for the seventh consecutive trading session. The upmove appears a bit overstretched as it has been rising higher without any meaningful pullback towards the hourly moving averages.

The hourly momentum indicator has a negative crossover along with a negative divergence. Thus, can be an intraday dip and hence caution on longs is advised.

The Nifty is also trading close to the 78.6% retracement mark 24830 which shall restrict further upside. Thus, the overall trend remains sideways, and the range of consolidation is 24200 – 25000.

The Bank Nifty also witnessed rangebound price action and closed marginally in the red. The Bank Nifty can resume its upmove after couple of days of consolidation. On the upside, we expect can now witness a upmove towards 51500 – 51900 from short term perspective. A stoploss of 50400 should be maintained for the long positions.

August 23, 2024· 15:45 IST

Ajit Mishra – SVP, Research, Religare Broking

It was a quiet trading session for the Nifty, which remained in a narrow range and ended the day almost flat. Market sentiment was cautious, influenced by a global wait-and-see approach ahead of the US Fed Chair's speech at Jackson Hole. Sector-wise, there was a mixed performance; the auto sector saw decent gains, while the realty and IT sectors lagged. Broader indices also stayed range-bound, finishing slightly lower.

On Monday, markets will likely react to global cues following the US Fed speech. We recommend maintaining a positive outlook unless the Nifty decisively breaks below 24,500.

We continue to believe that the banking sector holds the key to the next directional move, as other sectors are engaged in a balancing act. In the meantime, traders should avoid taking aggressive positions and stay stock-specific.

August 23, 2024· 15:31 IST

Currency Check | Rupee closes 5 paise higher

Indian rupee ended higher at 83.90 per dollar on Friday versus Thursday's close of 83.95.

August 23, 2024· 15:30 IST

Market Close | Sensex, Nifty end flat; realty, IT top drags

Indian benchmark indices ended flat in the volatile session on August 23.

At close, the Sensex was up 80.12 points or 0.10 percent at 81,133.31, and the Nifty was up 11.70 points or 0.05 percent at 24,823.20. About 1810 shares advanced, 1603 shares declined, and 68 shares unchanged.

Top gainers on the Nifty were Bajaj Auto, Coal India, Tata Motors, Sun Pharma and Bharti Airtel, while losers included Wipro, ONGC, Divis Labs, LTIMindtree and Infosys.

BSE Midcap index was down 0.6 percent, while smallcap index ended flat.

Among sectors, auto index was up 1 percent, while metal, realty, media, PSU Bank and IT down 0.5-2.5 percent.

August 23, 2024· 15:22 IST

IPO Check | Orient Tech IPO Subscribed at 133.20 times on Day 3

QIB – 148.02 times

NII – 283.69 times

Retail – 60.55 times

August 23, 2024· 15:21 IST

August 23, 2024· 15:16 IST

Sensex Today | BSE midcap index down 0.5%; Deepak Nitrite, IGL, Petronet LNG, among major losers

CompanyCMPChg(%)Volume
Deepak Nitrite2,856.70-3.1216.25k
IGL524.85-2.8435.32k
Petronet LNG371.15-2.630.33k
Vodafone Idea15.79-2.5319.31m
Sun TV Network769.90-2.5320.55k
MphasiS2,993.00-2.3511.52k
Kansai Nerolac294.45-2.2143.72k
M&M Financial307.00-2.1493.18k
Max Healthcare852.00-1.9921.36k
Exide Ind502.20-1.9860.75k

August 23, 2024· 15:13 IST

Stock Market LIVE Updates | APL Apollo Tubes gets GST tax demand notice

The company has received an order from Joint Commissioner Jurisdiction: Corporate Circle, Ghaziabad II, for GST demand of Rs 1,64,95,383 comprising tax and penalty.

August 23, 2024· 15:11 IST

Stock Market LIVE Updates | Tata Power Solar Systems collaborates with ICICI Bank

Tata Power Solar Systems, a wholly-owned subsidiary of Tata Power Renewable Energy announced strategic collaboration with ICICI Bank to provide loans to finance the purchase of solar panels/ units for residential and Corporate customers.

August 23, 2024· 15:08 IST

Brokerage Call | UBS keeps ‘buy’ rating on TVS Motor, target raises to Rs 3,200

#1 New Jupiter is a significant upgrade over old model & peers, at similar price

#2 Believe the launch can further aid 15,000-20,000 additional volumes

#3 Company Is expected to launch a brand-new E-2W & foray into E3W category in next few months

#4 New Launches offer further catalysts

August 23, 2024· 15:00 IST

Market@3 | Sensex, Nifty trade flat

The Sensex was up 14.17 points or 0.02 percent at 81,067.36, and the Nifty was up 6.50 points or 0.03 percent at 24,818.00. About 1798 shares advanced, 1598 shares declined, and 80 shares unchanged.
SENSEX Top Stock Gainers (Intra-day)
CompanyCMPChg(%)Volume
Sun Pharma1,777.701.5572.30k
Tata Motors1,084.501.49589.97k
Bharti Airtel1,503.001.13151.25k
M&M2,760.050.9773.66k
ICICI Bank1,202.450.95429.46k
HUL2,817.000.9170.81k
Bajaj Finserv1,638.900.7883.65k
JSW Steel939.050.5985.68k
Power Grid Corp335.800.57248.08k
Reliance3,003.000.26199.04k
SENSEX Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
Wipro511.85-1.33325.57k
Nestle2,526.05-0.9283.14k
HCL Tech1,660.35-0.9195.53k
TCS4,461.90-0.85139.53k
Infosys1,865.35-0.78156.50k
Tech Mahindra1,598.75-0.7540.00k
Asian Paints3,161.85-0.7220.24k
Titan Company3,578.40-0.6927.77k
SBI816.30-0.47276.31k
Larsen3,593.35-0.3562.39k

August 23, 2024· 14:55 IST

August 23, 2024· 14:52 IST

Stock Market LIVE Updates | Likely to sell 10% in IREDA, Chairman Pradeep Kumar Das on CNBC-Awaaz

August 23, 2024· 14:49 IST

Brokerage Call | CLSA keeps ‘outperform’ call on Reliance Industries, target Rs 3,300

#1 Jio’s 5G rollout led to a 46 percent YoY jump in capex which drove down its free cash flow

#2 Interest capitalised increased notably YoY & RoCE declined 60 bps YoY

#3 Jio’s rate of depreciation is now more comparable to listed telecom peers

#4 Jio’s network costs remain notably higher than peers

#5 Next leg of growth to come from 5G monetisation and broadband ramp-up

August 23, 2024· 14:40 IST

August 23, 2024· 14:37 IST

Sensex Today | BSE Auto index up 1%; Bajaj Auto, TVS Motor, Samvardhana Motherson among major gainers

CompanyCMPChg(%)Volume
Bajaj Auto10,366.254.629.34k
TVS Motor2,783.702.8756.01k
MOTHERSON197.501.88728.21k
Hero Motocorp5,409.001.514.13k
Tata Motors1,084.251.46571.03k
M&M2,759.450.9469.93k
Sundram1,342.350.17725
Cummins3,824.350.136.05k
Apollo Tyres508.150.1236.92k

August 23, 2024· 14:35 IST

Sensex Today | Spot USDINR price to trade between 83.70-84.20: Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas

Indian Rupee gained today on weak US Dollar and a positive tone in the domestic markets. FII inflows also supported the Rupee. However, overnight gains in crude oil prices capped sharp gains.

US Dollar declined on strong Yen after Bank of Japan Governor Kazuo Ueda showing willingness to raise interest rates if inflation and economic situation is in line with their expectations.

Economic data was mixed with weekly unemployment claims higher than the prior week, S&P Global manufacturing PMI lower than forecast at 48 in August showing contraction, while the services PMI rose to 55.2 in August, higher than forecast of 54. Existing home sales rose by 1.3% to 3.95 million in July versus 3.9 million in June.

We expect Rupee to trade with a slight negative bias as traders remain cautious ahead of Fed Chair Jerome Powells speech at the Jackson Hole Symposium which could provide some cues on Fed’s path to cut interest rates. Weak US and Asian markets and a recovery in crude oil prices may pressurise the Rupee while positive domestic markets may support the Rupee at lower levels. USDINR spot price is expected to trade in a range of Rs 83.70 to Rs 84.20.

August 23, 2024· 14:30 IST

Stock Market LIVE Updates | Radico Khaitan shares gain most in 9 weeks

August 23, 2024· 14:26 IST

Sensex Today | Trent shares cross Rs7,000, now up 20x from COVID19 lows; Stock may be latest Nifty addition

August 23, 2024· 14:21 IST

Sensex Today | Alpha TC Holdings sells entire stake (75 lakh shares) in Tata Tech in today’s block in Rs1,010-1,020/share range, sources to CNBC-Awaaz

August 23, 2024· 14:17 IST

Sensex Today | Sun Pharma launches skin infections treatment starizo in India

August 23, 2024· 14:12 IST

Sensex Today | Samvardhana Motherson has another 3.2 mln shares traded in a block: Bloomberg

August 23, 2024· 14:07 IST

Sensex Today | Jindal Saw approves splitting each share into two

August 23, 2024· 14:01 IST

Markets@2 | Sensex, Nifty trade higher

The Sensex was up 64.46 points or 0.08 percent at 81,117.65, and the Nifty was up 23.80 points or 0.10 percent at 24,835.30.

Advance/Decline (Intra-day)

;81,110.56 57.37(0.07%)

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17

August 23, 2024· 13:55 IST

Stock Market LIVE Updates | Bikaji Foods approves acquisition of 55% stake in Ariba Foods for Rs 60.5 crore

August 23, 2024· 13:44 IST

Stock Market LIVE Updates | Deeps Industries bags Rs 63 crore order

The company has received Letter of Award from Oil and Natural Gas Corporation for Hiring of services for a skid mounted modular type gas separation system and gas compression units including operation and maintenance at Rokhia GCS Tripura Asset for a period of 3 years. The total estimated value of this award is approximately Rs 63 crore.

August 23, 2024· 13:44 IST

Sensex Today | 10 million shares of Tata Technologies change hands in a block trade: Bloomberg

August 23, 2024· 13:42 IST

Stock Market LIVE Updates | Spandana Sphoorty Financial to consider fund raising

The board of directors of the company will meet on August 27 to consider the issuance of non-convertible debentures on a private placement basis.

August 23, 2024· 13:39 IST

August 23, 2024· 13:32 IST

Stock Market LIVE Updates | Jain Irrigation Systems signs MoU with the Coffee Board of India

August 23, 2024· 13:27 IST

Sensex Today | Nifty Realty index down 2%; Phoenix Mills, Prestige Estate, Brigade Enterprises fall 2-3%

CompanyCMPChg(%)Volume
Phoenix Mills3,579.85-2.99293.60k
Prestige Estate1,703.00-2.4429.35k
Brigade Ent1,127.60-2.02172.36k
Oberoi Realty1,701.50-1.88401.28k
Godrej Prop2,879.95-1.81358.14k
DLF852.20-0.821.76m
Sobha1,686.15-0.4452.12k
Equinox India141.55-0.448.21m
Hemisphere201.00-0.36301.64k

August 23, 2024· 13:24 IST

Brokerage Call | Citi maintains ‘sell’ rating on Dr Lal PathLabs, target Rs 2,700

#1 Improvement in mix (Tests + Swasthfit) to help in achieving better than industry growth

#2 Geographic expansion to help in achieving better than industry growth

#3 There is no intention to take price increases in near-term

#4 Operating leverage, better efficiencies will help in margin stability

#5 Competition continue to be there but irrationality has come down

#6 There is a renewed focus towards international markets

August 23, 2024· 13:20 IST

Reliance Power, other shares fall after SEBI bans Anil Ambani from securities market for five years

August 23, 2024· 13:16 IST

Stock Market LIVE Updates | Nykaa shares extend gain amid block deal

August 23, 2024· 13:11 IST

Sensex Today | Most Active Stocks on Nifty

CompanyCMP Chg(%)VolumeValue(Rs cr)
HDFC Bank1,628.60
-0.17
5.57m907.68
Bajaj Auto10,327.70
4.17
862.72k881.22
Reliance3,002.60
0.21
2.67m804.69
Tata Motors1,088.95
1.92
6.91m748.51
Bharti Airtel1,497.65
0.76
4.08m608.30
ICICI Bank1,202.20
0.93
3.86m461.41
Coal India538.40
1.81
8.25m443.10
Larsen3,594.55
-0.33
1.19m430.15
Infosys1,869.90
-0.55
2.27m424.34
TCS4,460.25
-0.93
942.04k421.64

August 23, 2024· 13:04 IST

August 23, 2024· 13:01 IST

Markets@1 | Sensex, Nifty trade higher

August 23, 2024· 12:55 IST

Stock Market LIVE Updates | SEPC gets final acceptance certificate from Hutti Gold Mines

SEPC received final acceptance certificate from the Hutti Gold Mines for the contract for construction of New Circular shaft with complete winding installations on a turnkey basis.

August 23, 2024· 12:49 IST

IPO Check | Orient Tech IPO Subscribed at 50.84 times on Day 3

QIB – 3.3 times

NII - 126.86 times

Retail – 44.44 times

August 23, 2024· 12:46 IST

Sensex Today | Bajaj Auto, HDFC Life among other Nifty stocks touched 52-week high

Company52-Week HighDay’s HighCMP
Bajaj Auto10369.9010369.9010,323.70
Apollo Hospital6927.406927.406,884.60
HDFC Life730.50730.50728.70

August 23, 2024· 12:40 IST

Brokerage Call | Morgan Stanley keeps ‘equal-weight’ call on Paytm, target Rs 500

#1 Sale of entertainment ticketing business, if executed, would be a net positive in our view

#2 Sale of entertainment ticketing business will strengthen its balance sheet

#3 Drive tighter focus on its core payment and financial distribution businesses

August 23, 2024· 12:32 IST

Stock Market LIVE Updates | Cement stocks in focus

CompanyCMPChg(%)Volume
KCP245.291.97627337
Barak Vally Cem66.061.9619155
Shree Digvijay103.71.74828514
Anjani Portland192.411.4114168
Sahyadri Ind3600.8710075
Andhra Cement94.390.6319540
Ramcoind241.450.8108927
Niraj Cement46.20.723449
Ambuja Cements635.350.5610299898
Visaka Ind119.330.24183309

August 23, 2024· 12:31 IST

August 23, 2024· 12:26 IST

Sensex Today | SMS Pharmaceuticals gains more than 12%; most in 2 months

August 23, 2024· 12:19 IST

Brokerage Call | UBS keeps ‘buy’ rating on TVS Motor, target raises to Rs 3,200

#1 New Jupiter is a significant upgrade over old model & peers, at similar price

#2 Believe the launch can further aid 15,000-20,000 additional volumes

#3 Company Is expected to launch a brand-new E-2W & foray into E3W category in next few months

#4 New Launches offer further catalysts

August 23, 2024· 12:16 IST

Sensex Today | 2.36 million shares of Samvardhana Motherson International traded in a block: Bloomberg

August 23, 2024· 12:10 IST

Brokerages Call | Asit C. Mehta initiates coverage on Karur Vysya Bank with 'buy', target Rs 265

August 23, 2024· 12:05 IST

Sensex Today | Reliance Infrastructure falls most in 19 weeks

August 23, 2024· 12:03 IST

Stock Market LIVE Updates | Reliance Power shares down 5% after Sebi bans Anil Ambani from securities market for 5 years

Markets regulator Sebi has barred industrialist Anil Ambani, 24 other entities, including former key officials of Reliance Home Finance from the securities market for five years for diversion of funds from the company.

August 23, 2024· 12:01 IST

Markets@12 | Sensex, Nifty flat

The Sensex was up 26.56 points or 0.03 percent at 81,079.75, and the Nifty was up 23.20 points or 0.09 percent at 24,834.70.

Advance/Decline (Intra-day)

;24,834.85 23.35(0.09%)

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August 23, 2024· 11:52 IST

Sensex Today | BSE Metal index up 0.5%; Coal India, Jindal Stainless, Hindalco among major gainers

CompanyCMPChg(%)Volume
Coal India536.551.47117.62k
Jindal Stainles738.651.39.17k
Hindalco693.101.1166.25k
SAIL134.750.67558.33k
JSW Steel938.550.5440.73k
Jindal Steel967.000.165.71k

August 23, 2024· 11:50 IST

Brokerage Call | Citi keeps ‘buy’ rating on Zomato, target raises to Rs 300

#1 View acquisition of Paytm’s entertainment ticketing business moderately positively

#2 Company’s own ‘going out’ vertical has had higher growth versus acquired business

#3 Focus will be likely on gaining segment market share given growth and margin guidance

August 23, 2024· 11:49 IST

August 23, 2024· 11:43 IST

Sensex Today | BSE Smallcap outshine

IndexCMP Chg(%)YTD(%) 1 Week(%)1 Month(%) 1 Year(%)
SENSEX81125.48
0.09
12.30
0.86
0.87
23.98
BSE 20011548.76
0.14
19.81
1.55
2.47
36.27
BSE MIDCAP48575.60
-0.14
31.86
2.49
4.45
56.97
BSE SMALLCAP55740.34
0.26
30.62
3.50
5.52
54.55
BSE BANKEX58134.02
0.1
6.91
0.87
-2.06
16.37

August 23, 2024· 11:40 IST

Stock Market LIVE Updates | Kaynes Technology inaugurates manufacturing facility in Hyderabad

August 23, 2024· 11:36 IST

August 23, 2024· 11:34 IST

Stock Market LIVE Updates | NCLT approves Adani Power's resolution plan for acquisition of Lanco Amarkantak Power

The National Company Law Tribunal, Hyderabad, has approved the company’s resolution plan for the acquisition of Lanco Amarkantak Power, which is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. The upfront payment for the acquisition is Rs 4,101 crore.

August 23, 2024· 11:27 IST

Stock Market LIVE Updates | CDSL stock skyrockets 8% on ex-date for bonus shares

Central Depository Services (India) Ltd (CDSL) share price skyrocketed nearly 8 percent on the ex-date for the bonus share as today is the last chance for shareholders to be eligible ahead of its record date on August 24. The counter touched an intraday high of Rs 1,558.85 per share on the National Stock Exchange (NSE), rising 7.57 percent with over 48 lakh shares changing hands for a traded value worth Rs 732.68 crore. READ MORE

August 23, 2024· 11:19 IST

India’s ‘sweet spot’ lures bond funds amid global market turmoil

Global funds have poured money into India’s debt market for 14 weeks in a second streak of buying this year, evidence of the country’s appeal amid the ructions of worldwide financial markets. With the prospect of interest rate cuts on the horizon and the rupee treading water near historic lows, offshore investors have bought roughly $7 billion net of the South Asian country’s bonds since May. That’s more than twice the sum of net purchases for Indonesia, to which it is often compared, according to data compiled by Bloomberg. READ MORE

August 23, 2024· 11:05 IST

Sensex Today | 2.12 million shares of Federal Bank traded in a block: Bloomberg

August 23, 2024· 11:02 IST

Markets@11 | Sensex, Nifty trade higher

The Sensex was up 52.31 points or 0.06 percent at 81,105.50, and the Nifty was up 26 points or 0.10 percent at 24,837.50. About 1921 shares advanced, 1312 shares declined, and 107 shares unchanged.
NIFTY 50 Top Stock Gainers (Intra-day)
CompanyCMPChg(%)Volume
Bajaj Auto10,211.102.99420.02k
Tata Motors1,085.951.644.62m
Coal India537.001.544.17m
Hero Motocorp5,410.001.5338.66k
BPCL355.101.435.14m
Apollo Hospital6,908.851.15219.52k
Hindalco692.4012.43m
Sun Pharma1,764.850.812.06m
M&M2,754.950.8530.65k
ICICI Bank1,197.800.562.12m
NIFTY 50 Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
LTIMindtree5,635.00-1.2264.24k
Wipro513.00-1.162.38m
Grasim2,731.00-0.88419.97k
ONGC321.95-0.743.46m
Asian Paints3,163.25-0.73275.75k
Titan Company3,579.15-0.7548.37k
Tech Mahindra1,600.25-0.68275.52k
Infosys1,868.35-0.631.30m
Nestle2,536.00-0.59164.72k
UltraTechCement11,245.05-0.5779.49k

August 23, 2024· 10:53 IST

Sensex Today | 1.61 million shares of Sun Pharma traded in a block: Bloomberg

August 23, 2024· 10:52 IST

Sensex Today | 4.35 million shares of Devyani International traded in a block: Bloomberg

August 23, 2024· 10:49 IST

Stock Market LIVE Updates | Zomato shuts Intercity Legends service

Zomato has announced the immediate shutdown of its Intercity Legends service, which offered iconic dishes from 10 cities across India to other parts of the country, two years after its launch.

August 23, 2024· 10:46 IST

Sensex Today | NSE Indian Indices Performance

IndexCMP Chg(%)YTD(%) 1 Week(%)1 Month(%) 1 Year(%)
NIFTY 5024831.15
0.08
14.26
1.18
1.44
27.71
NIFTY BANK51010.70
0.05
5.63
0.98
-1.48
14.68
NIFTY Midcap 10058819.55
-0.04
27.37
2.02
4.50
52.01
NIFTY Smallcap 10019094.50
-0.03
26.09
3.57
3.77
59.65
NIFTY NEXT 5074795.45
0.18
40.21
2.54
4.42
68.66

August 23, 2024· 10:40 IST

August 23, 2024· 10:36 IST

Sensex Today | BSE Realty index down 0.7%; Macrotech Developers, Oberoi Realty, Prestige Estate among major losers

CompanyCMPChg(%)Volume
Macrotech Dev1,191.85-2.4510.59k
Oberoi Realty1,713.85-1.281.91k
Prestige Estate1,729.90-0.822.35k
Godrej Prop2,912.50-0.682.71k
Mahindra Life578.20-0.522.61k
Phoenix Mills3,673.55-0.411.43k
Brigade Ent1,148.05-0.314.49k

August 23, 2024· 10:32 IST

Stock Market LIVE Updates | Spandana Sphoorty Financial to consider fund raising

The board of directors of the company will meet on August 27 to consider the issuance of non-convertible debentures on a private placement basis.

August 23, 2024· 10:31 IST

August 23, 2024· 10:25 IST

Sensex Today | Everest Kanto, Crest Ventures, Natco Pharma, among others trade ex-dividend

Oil and Natural Gas Corporation, ABB India, Federal Bank, Indian Railway Catering and Tourism Corporation, LIC Housing Finance, AK Capital Services, Astra Microwave Products, Bhageria Industries, Bhatia Communications & Retail, Crest Ventures, Crestchem, Deepak Spinners, Dynacons Systems, Everest Kanto Cylinder, Gujarat Ambuja Exports, Gandhar Oil Refinery, Godfrey Phillips, Gujarat Hotels, Insecticides India, IL&FS Investment Managers, KFin Technologies, KP Energy, Kronox Lab Sciences, Kuantum Papers, Vedant Fashions, Max Healthcare Institute, Mayur Uniquoters, Meera Industries, Natco Pharma, Nicco Parks, RJ Shah, Rashi Peripherals, Surya Roshni, TAAL Enterprises, Upsurge Investment, Venky's India, The Yamuna Syndicate

August 23, 2024· 10:22 IST

Brokerage Call | CLSA keeps ‘outperform’ call on Reliance Industries, target Rs 3,300

#1 Jio’s 5G rollout led to a 46 percent YoY jump in capex which drove down its free cash flow

#2 Interest capitalised increased notably YoY & RoCE declined 60 bps YoY

#3 Jio’s rate of depreciation is now more comparable to listed telecom peers

#4 Jio’s network costs remain notably higher than peers

#5 Next leg of growth to come from 5G monetisation and broadband ramp-up

August 23, 2024· 10:19 IST

Stock Market LIVE Updates | Bandhan Bank launches savings account for women

The bank has launched "Avni," an exclusive savings account for women. Additionally, it has launched an enterprise-wide loyalty program called Bandhan Bank Delights, where customers can earn reward points known as "delight points." These points can be redeemed for purchases, along with exclusive offers.

August 23, 2024· 10:13 IST

Sensex Today | BSE Capital Goods index up 0.8%; Finolex Cables, Elgi Equipments, KPIL, among major gainers

CompanyCMPChg(%)Volume
Finolex Cables1,502.103.267.08k
Elgi Equipments666.603.0817.70k
KPIL1,290.602.8316.54k
Rail Vikas582.702.1778.72k
Hindustan Aeron4,861.001.9722.78k
Suzlon Energy78.661.421.65m
GMR Airports96.301.37498.83k
CG Power 749.751.2933.71k
Bharat Elec307.901.1636.73k
Honeywell Autom52,570.000.819

August 23, 2024· 10:09 IST

Stock Market LIVE Updates | GST Authority reduces GST demand from Bharti Airtel to Rs 194 cr

Following the company’s appeal to the Commissioner (Appeals), Central Goods and Services Tax Appellate Authority, Delhi, the said Appellate Authority has passed an appeal order reducing the GST demand to Rs 194 crore. The total demand originally assessed by the GST Department was Rs 604.66 crore.

August 23, 2024· 10:06 IST

August 23, 2024· 10:01 IST

Markets@10 | Sensex, Nifty trade flat

August 23, 2024· 10:00 IST

Sensex Today | 0.5% equity of GMR Airports Infrastructure change hands in 2 blocks: Bloomberg

August 23, 2024· 09:55 IST

Sensex Today | Chambal Fertilisers, RBL Bank, Aarti Industries in F&O Ban

Chambal Fertilisers and Chemicals, Indian Energe Exchange, RBL Bank, Aarti Industries, Aditya Birla Fashion and Retail, Birlasoft, GNFC, Granules India, Hindustan Copper, India Cements, LIC Housing Finance, NALCO, Piramal Enterprises, Sun TV Network

August 23, 2024· 09:51 IST

Sensex Today | Nifty Media index down 0.5%; PVR Inox, Sun TV Network, Dish TV, among top losers

NIFTY MEDIA Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
PVR INOX1,494.35-1.3765.57k
Sun TV Network780.35-1.23132.70k
Dish TV15.23-1.12.20m
Zee Entertain138.20-0.891.53m
JagranPrakashan94.82-0.6940.21k
TV18 Broadcast49.48-0.462.52m
Network 1899.90-0.021.25m

August 23, 2024· 09:50 IST

Stock Market LIVE Updates | Eicher Motors gets GST demand notice

The company has received a GST demand order of Rs 0.15 crore from the Office of the Deputy Commissioner, Dehradun - Sector 3, Uttarakhand.

August 23, 2024· 09:48 IST

Stock Market LIVE Updates | Minda Corporation shares gain most in 11 weeks

August 23, 2024· 09:46 IST

Stock Market LIVE Updates | NIIT gains 8%, highest in six months

August 23, 2024· 09:44 IST

Brokerage Call | Bernstein keeps ‘outperform’ call on Reliance Industries, target raises to Rs 3,440

#1 Growth engine led by Jio, raise target multiple for Jio business

#2 Reliance Jio continues to focus on monetisation with recent tariff hike

#3 Focus on monetisation for Reliance Jio with completion of 5G roll out

#4 Expect 16 percent revenue CAGR / 20 percent EBITDA CAGR for Jio over next 3 years

#5 Flow through of tariff hike for Jio into FY25

#6 Market share gains will continue as Jio reaches more than 500 mn subscribers, and reaches nearly 47 percent revenue share by FY25

August 23, 2024· 09:42 IST

Stock Market LIVE Updates | Akshar Spintex, Dhyaani Tradeventtures trade ex-rights

August 23, 2024· 09:41 IST

Stock Market LIVE Updates | Mayur Uniquoters trades ex- buyback

August 23, 2024· 09:38 IST

Sensex Today | Nifty Information Technology index down nearly 1%; Mphasis, LTIMindtree, Persistent Systems among major losers

NIFTY IT Top Stock Losers (Intra-day)
CompanyCMPChg(%)Volume
MphasiS2,984.95-2.63121.62k
Persistent4,878.10-1.6551.34k
LTIMindtree5,634.20-1.2327.11k
Infosys1,861.00-1.02470.75k
COFORGE LTD.6,026.85-0.9436.04k
Wipro514.25-0.92835.85k
Tech Mahindra1,602.00-0.57118.35k
L&T Technology5,457.15-0.5719.10k
TCS4,479.50-0.5189.34k

August 23, 2024· 09:36 IST

Stock Market LIVE Updates | Wipro stock down; company extends partnership with John Lewis Partnership

Wipro shares erased opening gains and trading at day's low on August 23. The IT giant extended its partnership to transform and modernize John Lewis Partnership's IT infrastructure.

In a filing with the bourses, Wipro wrote, "As part of this engagement, Wipro FullStride Cloud will extend JLP’s current cloud infrastructure, Network and End user services for another four years. The Wipro FullStride Cloud team will collaborate with JLP and Google Cloud in a strategic transformation of their X86 platform to the cloud, enabling them to unlock new business value by making them more agile, optimizing operating costs, and streamlining business operations."

August 23, 2024· 09:33 IST

August 23, 2024· 09:29 IST

Stock Market LIVE Updates | USFDA issues EIR for Wanbury's manufacturing unit at Patalganga, Maharashtra

August 23, 2024· 09:26 IST

Sensex Today | Nifty Auto index up 1%; TVS Motor, Bajaj Auto, Hero MotoCorp, among major gainers

CompanyCMPChg(%)Volume
TVS Motor2,795.003.28605.96k
Bajaj Auto10,124.952.13106.72k
Hero Motocorp5,399.001.373.11k
Tata Motors1,081.501.221.42m
Bosch32,781.450.862.51k
Balkrishna Ind2,894.000.8433.52k
Bharat Forge1,633.950.7973.26k
MOTHERSON195.390.77559.94k
Sona BLW694.100.641.36k
Eicher Motors4,961.500.5723.88k

August 23, 2024· 09:22 IST

Stock Market LIVE Updates | Jain Irrigation Systems signs MoU with the Coffee Board of India

The company has developed a Tissue Culture protocol for coffee varieties and has signed an MoU with the Coffee Board of India for the commercial release of advanced high-quality, disease-resistant coffee plants to growers.

August 23, 2024· 09:21 IST

Sensex Today | 40.9 million shares of Nykaa traded in a block: Bloomberg

August 23, 2024· 09:20 IST

Stock Market LIVE Updates | Ambuja Cements shares gain 3% post 42 million shares change hands in block deal

August 23, 2024· 09:19 IST

Sensex Today | Gainers and Losers on the BSE Sensex in the early trade:

August 23, 2024· 09:15 IST

Opening Bell | Sensex, Nifty opens higher

The Indian indices opened marginally higher on August 23.

The Sensex was down 58.50 points or 0.07 percent at 80,994.69, and the Nifty was down 10.00 points or 0.04 percent at 24,801.50. About 1690 shares advanced, 797 shares declined, and 116 shares unchanged.

Bajaj Auto, Apollo Hospitals, Tata Motors, Tata Consumer, Reliance Industries were among major gainers on the Nifty, while losers were ONGC, NTPC, Infosys, LTIMindtree and IndusInd Bank.

August 23, 2024· 09:08 IST

Aditya Gaggar, Director of Progressive Shares

Indian equities ended the weekly expiry day marginally higher at 24,812. The range of 24,850-,25,000 is a bearish gap zone, and considering a one-way rally from the past 5 sessions, a pullback can be anticipated where the Index will find support at 24,720. BankNifty has given a breakout but is awaiting confirmation.

From the Auto sector, Hero Motocorp is all set to give a breakout from a bullish Flag and pole formation. Post the breakout, the FMCG has made a DOJI candlestick pattern which indicates a temporary pause in its trend (not yet confirmed), buying on dips would be an ideal strategy.

The IT sector is probably developing a bearish divergence in the RSI and due to profit booking, some correction can be anticipated. Gems and Jewellery counters have gained momentum (Kalyan Jewellers and Titan- Symmetrical Triangle Breakout, and TBZ- Flag and Pole Breakout). A sharp uptick was seen in select Chemical stocks (Plastiblends, Jubilant Ingrevia, and SRF).

August 23, 2024· 09:05 IST

Sensex Today | Nifty to trade within the 24,000-25,500 range: Prashanth Tapse, Senior VP (Research), Mehta Equities

The Gift Nifty is treading cautiously following a weak US manufacturing update that triggered a risk-off mood on Wall Street. With markets jittery even after the FOMC Minutes hinted at a likely rate cut in September, all attention is now focused on Jerome Powell's upcoming Jackson Hole speech.

Investors are keen to hear if Powell will confirm a September rate cut, and if so, by how much, or if it might be delayed until November.

The CME FedWatch Tool indicates a 73.5% chance of a 25 basis point cut, adding to market volatility.

Nifty is expected to trade within the 24,000-25,500 range, with significant resistance at 25,500. Key trades include buying Larsen & Toubro, and strategically entering Nifty and Bank Nifty positions on dips.

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