Sensex, Nifty end flat post lackluster trade; Syrma soars 42%, Titan 3%

CLOSING BELL: It was a range-bound trade on the bourses on Friday as investors awaited US Fed chief Jerome Powell's address at the Jackson Hole Symposium later tonight

4:03 PM

Expert view: Investors remained cautious ahead of US Fed chair's remarks

"Investors' lack of confidence and caution in anticipation of the Fed chair's remarks led to a significant sell-off towards the close of the session. Western markets are trading with cuts as they await clues on further policy actions by the Fed to tame elevated inflation. This is expected to impact demand. On the sectoral front, metals and PSBs led the rally, while IT turned green after continued selling pressure."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:02 PM

Tech view: Nifty may remain rangebount, with resistance at 17,700

"The benchmark index remained volatile during the day. On the higher end, it failed to move beyond 17,700. The downside on the other hand were limited to 17,500. On the daily chart, a small-bodied candle with shadows on either side has formed, suggesting an indecisiveness. The trend is likely to remain sideways over the near term till Nifty remains in the range. Support on the lower end is visible at 17,500/ 17,400. On the higher end, resistance is visible at 17,700."

 

- Rupak De, Senior Technical Analyst at LKP Securities
 

4:02 PM

Primary Market Update:: DreamFolks Services IPO subscribed over 56.50 so far on Day 3

3:55 PM

Syrma SGS Technology dazzles on debut, stock soars over 42% against issue price

The stock ended at Rs 313 as against the issue price of Rs 220. Analyst at Swastika Investmart attributed the good listing to positive market sentiment, outstanding prospects, and a good response from the investors. READ MORE

3:54 PM

NTPC surged 3%; company approves Rs 11,844 cr investment for Talcher Thermal plant

According to a release issued by the company to the BSE, its board accorded investment approval for Talcher Thermal Power Project, Stage-III (2x660 MW) at an appraised current estimated cost of Rs 11,843.75 crore.

3:51 PM

Nelco hits 10% upper limit on pact with Intelsat to offer inflight connectivity

Shares of Nelco were locked at the 10 per cent upper circuit, at Rs 856.65 on the BSE on Friday, after the company partnered with Intelsat to offer inflight connectivity in India. READ MORE

 

3:48 PM

Surya Roshni hit 20% upper circuit on healthy business outlook

As the company's major sales comes from rural, semi urban & exports; Going forward, the management expects home appliances and pipe segments to perform well back by various government initiatives. READ MORE

3:46 PM

Bank Nifty view: Historically, September has seen 5% move on either side

"The Bank Nifty index continued to face stiff selling pressure around 39,500 level where fresh call writing has been witnessed. The index ahead of the global economic events is stuck in a broad range between 38,500-39,500 levels and a break on either side will give trending moves. The traders should trade with strict risk management as September has been the series where the index has seen more than 5 per cent move."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities 
 

3:44 PM

Among sectoral losers; Nifty Media and Realty were the major laggards

3:42 PM

Sectorally, Nifty Metal index surged 1.8%; Consumer Durables, PSU Bank were other top movers

3:41 PM

Broader markets move in tandem with benchmark Nifty, ends marginally up; India VIX falls 7%

3:39 PM

Nifty 50:: Top FIVE gainers and losers on Friday

3:37 PM

Sensex 30 Heatmap:: 23 Losers v/s 7 Gainers; NTPC, Titan shine; IndusInd Bank slips

3:36 PM

NSE Nifty 50 added 36 points to 17,559

3:34 PM

Closing Bell:: S&P BSE Sensex ends 59 points higher at 58,775; sheds 812 points for the week

3:24 PM

Delhivery off day's high, up 1%; Company plans to hire over 75,000 employees soon

Logistics firm Delhivery announced its plans to hire over 75,000 staff for seasonal jobs over the next one-and-a-half month and expand its parcel sortation capacity by 1.5 million shipments per day. READ MORE

3:18 PM

Crypto wrap: Expect high volatility as inflation still a worry, say experts

Volatility in the crypto market comes at a time when the share markets too were showing high volatility, globally. READ MORE

3:12 PM

Sebi comes out with disclosure requirement for asset management companies

Capital markets regulator Sebi on Thursday came out with the disclosure framework for asset management companies, mandating a scheme-wise disclosure of investments in securities of entities. READ MORE

3:05 PM

Global Check:: US, UK stock futures marginally in red

Source: Investing.com

2:57 PM

GIC Housing Finance to raise up to Rs 2,500 crore via issue of bonds

The housing financier will seek approval from its shareholders on the capital raise plan in the upcoming annual general meeting on September 23, 2022. READ MORE

 

2:52 PM

JM Financial initiates 'buy' on Poonawalla Fincorp; stock soars 7%

<< Price target: Rs 400 a share

 

<< Poonawalla Fincorp has undergone a metamorphosis of sorts after significant capital infusion by the Poonawalla group (~62% stake) in early-CY21.

<< The backing of a respected, non-levered promoter group has enabled the company to reduce its cost of borrowings significantly.

<< All this, with clear visibility of a strong Risk-adjusted return on capital. Expect the NBFC to enter a strong acceleration phase of customer acquisition and offer digital-first products.

<< Estimate an AUM-CAGR of 36% over FY22-25E with a mix of 60:40 between secured:unsecured loans over this period.

<< Asset quality is likely to remain strong given the focus on credit-tested customers, past experience of digital lending, and sharp focus on risk.

<< Expect expansion ahead as operating leverage kicks in to drive RoA of 3.4% (RoE of 15.4%) in FY25E.

<< With its strong growth runway and strong liabilities advantage, PFL will trade at premium valuations. Value the stock at 4x Sep’24E P/BV

By JM Financial

2:47 PM

ALERT :: Government likely to curb some rice exports in risk to global supply

Source: Agencies

2:44 PM

Stock of this EPC and solar advisory firm has zoomed 1,475% so far in 2022

In the past one month, Gensol Engineering  nearly doubled, or surged 96 per cent, as compared to 7 per cent rise in the S&P BSE Sensex. READ MORE

2:41 PM

ALERT :: Energy costs are set to rise 80% in the UK

2:35 PM

I-T dept going into new areas to check tax evasion: CBDT chairman

Income-Tax department is going into "new areas" of the economy to check tax evasion even as its investigation units are using analytics to sift through voluminous data on Indians holding assets abroad. READ MORE

2:25 PM

Rupee to remain under pressure despite RBI support, says Societe Generale

Rupee is likely to struggle against the dollar as slowing global growth and the Federal Reserve's interest rate stance overshadows RBI's intervention, suggested Societe General. READ MORE

2:15 PM

BSE 500:: Top losers so far

RBL Bank shed 6 per cent and was the top loser among the BSE 500 stocks so far on Friday. It was followed by Tata Tele, Adani Power, APL Apollo Tubes and Narayana Hrudayala, down around 4 per cent each.

2:05 PM

Bata India expands footprint but performs below expectations in Q1

The April-June quarter (first quarter, or Q1) of 2022-23 (FY23) performance of footwear major Bata India was below expectations. READ MORE

 

1:55 PM

Asian Markets Update:: Hang Seng gains 1%; Nikkei, Taiwan add 0.5%

Source: Yahoo Finance

1:46 PM

BSE 500:: Top gainers so far

Mazagon Dock has zoomed 14 per cent in trades so far and was the top gainer among the BSE 500 stocks. New India Assurance, IDBI Bank, Chambal Fertilisers and KIOCL were some of the other significant gainers on Friday.