Stock Market Highlights, Aug 7: Sensex climbs 875 pts; Nifty ends at 24,297; Mid, smallcaps outrun

Stock Market Highlights on August 7: As many as 44 out of 50 constituent stocks of the Nifty50 ended higher, with ONGC, Coal India, Adani Enterprises, and Adani Ports gaining up to 7.45 per cent

3:46 PM

Comment :: 'All eyes on the RBI policy now'

Global markets experienced a notable rebound after the BoJ's Deputy Governor reassured that the central bank would not raise interest rates during a period of financial instability. The Indian market also witnessed broad-based buying across sectors, with the Realty sector seeing a relief rally due to the reinstatement of indexation benefits. The carry trade issue appears to have been eased for now and the focus is on the ongoing RBI policy, which is likely to hold the rate and positive economic outlook.

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

3:44 PM

INDIA VIX ALERT :: India VIX cools off another 14% to settle around 16 levels

3:43 PM

Rupee Update :: Rupee eases slightly vs US dollar

3:42 PM

Broader markets :: MidCap, SmallCap indices rally over 2% each

3:41 PM

Sectoral trends :: Indian stock markets see broad-based gains

3:39 PM

Sensex Heatmap :: 25 of 30 index stocks settle higher

3:36 PM

Stock Market Closing Bell :: Nifty ends near 24,300

3:33 PM

Stock Market Closing Bell :: Sensex soars 875 pts on Wednesday

3:27 PM

3 stocks freeze in 20% upper circuit on strong June quarter results

Shares of Venky's India were locked in the upper circuit of 20 per cent at Rs 2,191.40 after the company reported profit after tax (PAT) of Rs 75.18 crore in Q1FY25, on the back of a decline in raw material cost. The company had posted a PAT of Rs 19.41 crore in the year-ago quarter (Q1FY24) and Rs 33.51 crore in the previous quarter (Q4FY24). READ MORE

3:17 PM

Jindal Saw to consider stock split on Aug 14; share price jumps over 8%

Shares of Venky's India were locked in the upper circuit of 20 per cent at Rs 2,191.40 after the company reported profit after tax (PAT) of Rs 75.18 crore in Q1FY25, on the back of a decline in raw material cost. The company had posted a PAT of Rs 19.41 crore in the year-ago quarter (Q1FY24) and Rs 33.51 crore in the previous quarter (Q4FY24). READ MORE

3:03 PM

June quarter results :: ABFRL's net loss widens to Rs 160 crore vs Rs 140 crore YoY

>> Ebitda at Rs 358 crore vs Rs 292 crore YoY

>> Ebitda margin expands to 10.46% vs 9.15% YoY

2:52 PM

Shilpa Medicare's stock rallies 8% on successful phase-1 trials of rHA

“The positive results from this trial mark a significant milestone in the development of rHA, demonstrating its potential as a viable alternative to plasma derived human serum albumin,” the company said in an exchange filing.  READ MORE

2:40 PM

Govt panel considering major cut to food weighting in new CPI basket

The CPI is currently based on consumer spending patterns surveyed in 2011-2012, which economists say are outdated and may be distorting the official inflation data the central bank uses to set interest rates. More recent surveys show consumers are spending less of their budget on food than they did a decade ago. Bloomberg Economics estimates inflation in June was 70 basis points higher than it would have been using new weights. READ MORE

2:27 PM

June quarter results :: Pidilite Industries posts net profit of Rs 571.3 crore vs Rs 490 crore YoY

2:16 PM

Ceigall India listing price prediction: GMP signals muted gains; Details

Unlisted shares of Ceigall India continue to command a positive grey market premium (GMP) ahead of its listing. The company's shares are trading at a premium of nearly Rs 14.50 or 3.62 per cent on Wednesday, which is significantly lower than the GMP of Rs 70 or 17.64 per cent that the shares commanded on the IPO opening date of August 1, 2024. This indicates a lackluster listing for the Ceigall India shares on the bourses READ MORE

2:00 PM

FPI buying in Indian IT rises to highest since 2022 in July, shows data

Foreign portfolio investors (FPIs) net bought Indian IT stocks worth Rs 11,763 crore ($1.40 billion) in July, data from National Securities Depository (NSDL) showed, the highest since a new sectoral classification was implemented in 2022. READ MORE

1:56 PM

Honda posts 23% Q1 profit jump, aided by sales of hybrid vehicle

Japan's Honda Motor reported a 23% increase in first-quarter profit on Wednesday as the automaker benefited from a weaker yen, higher pricing and growing hybrid vehicle sales in the US and its home market. READ MORE

1:51 PM

Fusion Finance stock tanks 20%, hits 52-week low on weak Q1 results

Shares of Fusion Finance (Fusion Micro Finance) tanked 20 per cent and hit a 52-week low at Rs 346.80 on the BSE in Wednesday's intra-day trade after the firm reported a net loss of Rs 35.62 crore in the June 2024 quarter (Q1FY25) due to higher than usual provisioning. The microfinance institution had posted profit of Rs 120.46 crore in previous year quarter (Q1FY24). READ MORE

1:47 PM

ALERT :: Jindal Saw to consider stock-split on August 14

1:43 PM

Caplin Point stock zooms over 5% on robust Q1 results; bottomline grows 20%

Shares of pharmaceutical company Caplin Point rose sharply on Wednesday, August 7, 2024. The shares rallied as much as 5.42 per cent to hit an intraday high of Rs 1,629.40 per share. READ MORE

1:29 PM

Suzlon Energy locked in 5% upper circuit after acquisition worth Rs 620 cr

Shares of Suzlon Energy locked in 5 per cent upper circuit at Rs 69.57 per share on the BSE in Wednesday’s trading session. The stock price jump followed an acquisition done by the company on Tuesday worth Rs 620 crore. READ MORE

1:15 PM

LIC Housing, Marico among 4 stocks with short buildup; key levels to track

The Indian stock market has witnessed sharp swings in the last few trading sessions amid fall in global markets. The Yen carry trade unwinding; fears of a recession in the US and rising geo-political crisis have put the bulls on the back foot. READ MORE

1:01 PM

Ola Electric IPO allotment today: GMP tumbles; Check expected listing price

The basis of allotment for SoftBank-backed Ola Electric Mobility Limited's IPO shares is scheduled for today, August 7, 2024. The IPO subscription window closed yesterday, August 6, 2024. Ola Electric IPO was available at a price band of Rs 72-76 with a lot size of 195 shares for the investors. The public issue received decent participation from investors, being oversubscribed 4.45 times by the last date of subscription. READ MORE

12:48 PM

Cummins India shares soar 7% post robust Q1FY25 net profit growth

Shares of Cummins India soared 6.85 per cent at Rs 3761.15 per share on the BSE in Wednesday’s intraday trade. This came after the company’s topline and bottomline showcased growth in the first quarter of the financial year 2024-24 (Q1FY25). READ MORE

12:35 PM

Top 6 reasons why Sensex surged over 1,000 pts today, Nifty topped 24,300

 Indian stock markets were seen holding gains on Wednesday, August 7, amid a recovery in global stock markets. READ MORE

12:31 PM

IndusInd Bank down 2%, hits 52-week low; trades lower for 6th straight day

Shares of IndusInd Bank hit a 52-week low at Rs 1,347.85 on the BSE in Wednesday’s intra-day trade in otherwise a firm market as the bank’s June quarter (Q1FY25) earnings fell short of expectations due to increased provisions for the quarter. READ MORE

12:18 PM

Singapore bank DBS flags heightened uncertainty, Q2 profit beats forecasts

Singapore's biggest bank, DBS Group, flagged more uncertainty ahead but said net profit growth for 2024 was expected to be in the mid-to-high single digits after posting on Wednesday a second-quarter net profit that beat estimates. READ MORE

12:03 PM

India's e-lifestyle market to triple by 2028, reach $45 billion in value

India’s online fashion and lifestyle market is projected to expand from $16-17 billion today to an estimated $40-45 billion by 2028, the Financial Express said, citing a Bain & Company-Myntra report. READ MORE

11:41 AM

Nuvama says 'Buy' JTL Industries for 53% upside; initiates coverage

Brokerage firm Nuvama Institutional Equities has initiated its coverage on steel tube manufacturer JTL Industries with a Buy rating on the stock. In its report, the brokerage stated that with capacity additions underway (mainly value-added), JTL has been consolidating its position through volume and margin expansion. READ MORE

11:20 AM

Chambal Fertilisers gains 4% on healthy Q1FY25 performance; details here

Shares of chemicals and fertiliser company Chambal Fertilisers and Chemicals (Chambal Fert) rose a smooch as 4.05 per cent to hit an intraday high of Rs 511.65 per share on Wednesday, August 7, 2024.  The rise in the stock price came after the company posted healthy numbers in the June quarter of financial year 2025 (Q1FY25). READ MORE