Sensex ends 267 pts up; Adani Group stocks shine; Jio Fin dips 5% on debut

CLOSING BELL ON AUGUST 21, 2023: The NSE Nifty 50 ended with a gain of 84 points at 19,394. Jio Financial Services settled at the 5 per cent lower circuit on debut on Monday.

3:57 PM

Comment :: 'Don't read too much into market rebound'

Participants shouldn’t read much into intermediate rebound or a pause until Nifty decisively reclaims 19650 levels or forms a reversal pattern.  And, we recommend continuing with stock-specific trading approach and maintaining a focus on risk management. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:56 PM

Tech View :: 'Nifty trend to remain negative below 19,480'

Nifty50
On the daily charts, we can observe that the Nifty has been hovering around the 40-day moving average (19,360) for the past five trading sessions. Considering that the Nifty has been falling for the last four weeks, a pullback is likely. On the hourly charts, we can observe positive divergence indicating that momentum is weakening on the downside. However, we shall await further confirmations on the price front to change our short-term outlook. Until the Nifty trades below 19,480 – 19,500, we can expect the weakness to continue, and we shall continue to maintain our negative outlook on the index. On the downside we expect the Nifty to target levels of 19,100. Crucial support is placed at 19,280 – 19,240, while Immediate hurdle is placed at 19,480 – 19,500.

Bamk Nifty

Bank Nifty has also witnessed a pullback and snapped the seven-day losing streak. It has closed in the green and more importantly, holding on to the support of the 20-week moving average (44,000) which indicates that a pullback is likely in the short term. The pullback can last till the 44,400 – 44,500 zone.

Views by:  Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

3:53 PM

Comment :: What helped the market rebound on Monday?

A rebound in the global market after a significant correction prompted buying in domestic equities, particularly within the IT sector. However, the potential for volatility to linger in the near term remains due to the increasing dollar index and elevated US bond yields, fuelled by concerns about rate hikes. Investors are keenly observing the commentary from the Fed chair during its forthcoming summer conference for interest rate insights. Meanwhile, Asian markets displayed a mixed performance, reacting to the smaller-than-anticipated rate cut initiated by the Chinese central bank.

Views by: Vinod Nair, Head of Research at Geojit Financial Services.

3:51 PM

Bond market :: Yields on 10-year G-Sec settle above 7.2%

3:50 PM

Currency Check :: Rupee ends at 83.11/$ against Friday’s close of 83.10/$

3:49 PM

Market Check :: Top losers on the BSE today

3:48 PM

Market Check :: Top gainers on the BSE today

3:47 PM

KEC International soars 5% on order win worth Rs 1,007 crore

3:46 PM

PNB Housing Finance recovers Rs 784-cr NPA; stock settles over 3% up

3:44 PM

Data Patterns zooms 10% on robust order book

3:43 PM

Buzzing stock :: All Adani group stocks settle higher; Adani Energy, Power surge 6% each

3:42 PM

Buzzing stock :: Jio Financial Services close at 5% lower circuit on debut day

3:40 PM

Broader market indices settle higher; MidCap index up nearly 1%

3:39 PM

Sector check :: Nifty Realty index up 1%

3:38 PM

Sector check :: All 10 Nifty IT stocks end higher

3:37 PM

Sector check :: Metal index gains more than 1% as China cuts 1-year prime loan rate

3:36 PM

Sectoral trends :: Media, PSBs only laggards on Monday

3:35 PM

Sensex Heatmap :: RIL, Jio Financial top laggards among the 7 losers

3:34 PM

CLOSING BELL :: Nifty ends below 19,400

3:33 PM

CLOSING BELL :: Sensex rallies over 250 pts

3:22 PM

ALERT :: Adani Enterprises in focus

3:15 PM

Citi mulls plan to split institutional clients group in overhaul: Report

The plan would split the Institutional Clients Group into its three primary business segments: investment and corporate banking, global markets and transaction services, the FT report said. READ MORE

3:04 PM

ALERT:: Power Mech Projects to consider fund raise on Aug 25; stock down 1%

The board of directors of Power Mech Projects are scheduled to meet on August 25 to consider a proposal to raise funds.

2:55 PM

ALERT:: Vipul Organics ventures into paper segment; stock jumps 4%

Vipul Organics in an exchange filing said it has ventured into paper segment in the domestic market. It initial client list includes the likes of Tamil Nadu Paper, Andhra Paper.

 

The company expects a turnover of Rs 50 crore in the next three years, the release added.

2:47 PM

Onion auction to remain close indefinitely in Nasik wholesale mkt: Traders

Traders claimed the central government's decision to impose 40 per cent duty on the export of onions till December 31, 2023 will adversely affect the onion growers and its export. READ MORE

2:38 PM

Asian Market Update:: Hang Seng, Shanghai slip in mixed trade

Source: Yahoo Finance

2:27 PM

Here's why Adani Power, Adani Energy shares rallied up to 16% in 3 days

In the past three trading days, Adani Energy Solutions and Adani Power have rallied more than 12 per cent after promoter and foreign portfolio investors (FPI) bought stake via open market. READ

2:17 PM

Responsive Ind forays into waterproofing membrane division with Vaitarna Tunnel project

The company announced its acquisition of the Vaitarna Tunnel project contract under the Mumbai-Delhi Freight Corridor initiative of Indian Railways. 

2:07 PM

Bajaj Finance top Sensex gainer as Jio Financial remains locked in 5% lower circuit

1:56 PM

Data Patterns rallies 9% to hit record high on strong order book position

Shares of Data Patterns (India) surged 9 per cent to hit a record high of Rs 2,353 per share on the BSE in Monday’s intra-day trade. Thus far in the calendar year 2023 (CY23), the stock of aerospace & defense has zoomed 113 per cent on back of strong earnings and healthy order book position. In comparison, the S&P BSE Sensex was up 6.6 per cent so far in CY23. READ MORE