Stock Market Highlights, Aug 20: Sensex rises 378 pts, Nifty nears 24,700; all but FMCG rise

Stock Market Highlights on August 20: Bajaj Finserv, IndusInd Bank, Tech M, Bajaj Finance, Kotak Bank, and Axis Bank were the top large-cap gainers, rising up to 3.3 per cent

3:56 PM

Tech View: 'The trend is likely to remain strong as long as Nifty stays above the 24,600-24,650 range'

The Nifty moved above 24,700 after sustaining above 24,600. The trend is likely to remain strong as long as it stays above the 24,600-24,650 range. A decisive fall below 24,600 might trigger a reversal of the current uptrend. On the higher end, the Nifty might move towards 24,840-24,860.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

3:49 PM

'Easing geopolitical risks & weak China demand have led to fall in crude prices, benefiting domestic economy'

The domestic market started the session with a strong surge, buoyed by positive global sentiment amidst Israel-Hamas ceasefire talks and diminishing US recession fears due to recent favourable data. Concurrently, easing geopolitical risks and weak China demand have led to a decline in crude prices, benefiting the domestic economy. Meanwhile, inflationary pressure in Japan and the appreciating Yen cautioned the rally. This week’s Japan inflation data and FOMC minutes will provide insights into future interest rate trajectories and market trends.

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

 

 

3:38 PM

Sector Update: Nifty PSU Bank, Financials were among top gainers

3:36 PM

Broader markets settle higher; Nifty MidCap gains over 0.80%

3:35 PM

Index heatmap check: Bajaj Finserv was top gainer

3:34 PM

Stock Market Closing Bell: Nifty settles 126 pts higher at 24,698.85 levels

3:31 PM

Stock Market Closing Bell: Sensex settles 380 pts higher at 80,802.86 levels

3:28 PM

Zomato shares worth Rs 5,438 cr sold in block deal, Antfin likely seller

Zomato’s shares valued Rs 5,438.50 crore were sold in a block deal on Tuesday, with the deal later being upsized. Antfin Singapore Holding, a subsidiary of Alibaba Group, is believed to be the seller in this transaction, according to a report by Moneycontrol. READ MORE

3:27 PM

In a setback to BSE, Sebi denies relief on payment of regulatory fee

In a setback to BSE, the market regulator has denied any relief to the stock exchange on the payment of differential regulatory fee based on annual turnover. READ MORE

3:21 PM

Festival season sees airfare surge of 10-25% for major domestic routes

The festive season is round the corner and airfares are on the rise. A recent analysis indicates that average one-way ticket prices for major domestic routes are 10-15 per cent higher for Diwali and up to 20-25 per cent higher for flights to Kerala cities for Onam. READ MORE

 

3:15 PM

Surya Roshni hits over six-month high, surges 29% in 7 days post Q1 results

Surya Roshni share price today hit an over six-month high of Rs 714.95, surging 5 per cent on the BSE. The stock extended its rally on Tuesday after Surya Roshni company reported a strong set of numbers for the quarter ended June 2024 (Q1FY25) with healthy growth outlook. READ MORE 

2:58 PM

Tech Mahindra shares reach 52-week high after 103 acre land sale: details

Shares of Tech Mahindra soared up to 2.48 per cent, hitting its 52-week high at Rs 1,634.25 per share on the BSE in Tuesday’s intraday deals. READ MORE 

2:43 PM

Alert: Tech Mahindra approves sale of 103 acre land for Rs 535 crore

2:34 PM

Marksans Pharma hits 52-week high after USFDA issues EIR for Goa facility

Shares of Marksans Pharma  soared up to 1.98 per cent at Rs 220.14 per share on the BSE in Tuesday’s intraday trade. This came after the pharmaceutical company on Tuesday said that it has received an establishment inspection report (EIR) from the United States Food and Drugs Administration for its manufacturing facility in Goa. Read more

2:28 PM

Hindustan Zinc shares jump 4% on dividend announcement of 950% for FY25

Hindustan Zinc dividend news: Shares of Hindustan Zinc, a subsidiary of the mining conglomerate Vedanta, jumped 3.56 per cent to Rs 513.40 on the BSE during intra-day trade on Tuesday. The surge in the stock price followed news that the company's board had considered and approved the second interim dividend for FY24. Read more

2:12 PM

Shipbuilding stocks trade weak; Mazagon Dock, Cochin, GRSE down up to 9%

Shares of state-owned shipbuilding companies were under pressure falling by up to 9 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes in an otherwise strong market on valuation concerns.

Mazagon Dock Shipbuilders (MDSL) (down 9 per cent at Rs 4,278.80), Garden Reach Shipbuilders & Engineers (GRSE) (down 9 per cent at Rs 1,751.60) and Cochin Shipyard (down 5 per cent at Rs 2,039.50) fell in the range of 5 per cent to 9 per cent in intra-day trade. These stocks have corrected between 27 per cent and 38 per cent from their respective all-time high levels touched in July. In comparison, the BSE Sensex was up 0.5 per cent at 80,862 at 12:26 PM. Read more

1:55 PM

Market check:: Nifty above 24,700

1:53 PM

Alert: Hindustan Zinc Approves Rs 8,028 crore dividend and second interim dividend of Rs 19 per share

1:27 PM

Allcargo Logistics shares shoot up to 12% on July's business data; details

Shares of Allcargo Logistics soared up to 11.59 per cent at Rs 68.65 per share on the BSE in Tuesday’s intraday trade. This came after the company on Monday released its monthly business figures. 

In July 2024,the company’s LCL (Less than Container Load) volume reached 818,000 cubic metres, matching its highest-ever monthly volume recorded in August 2022. This represents a 6 per cent increase from the previous month and a 5 per cent rise compared to July 2023. Read more

1:20 PM

Sapphire Foods stock rises over 4% on fixing record date for stock split

Sapphire Foods stock surges:Shares of KFC operator, Sapphire Foods, rallied as much as 4.39 per cent to hit an intraday high of Rs 1,628.25 per share on Tuesday, August 20, 2024. The surge in Sapphire Foods share price came after the company announced that it has fixed September 5 as the ‘Record Date’ for stock-split. Read more

1:02 PM

Interarch Building Products IPO Day 2: See subscription details, GMP & more

Interarch Building Products IPO subscription status: The initial public offering (IPO) of Interarch Building Products continues to receive strong demand from investors on the second day of subscription. Interarch Building Products IPO, which opened for public subscription on Monday, was fully subscribed on the first day. Read more

12:44 PM

Filing: Mangalam Drugs and Organics Expands Anti-Malaria Portfolio

Mangalam Drugs and Organics is broadening its anti-malaria portfolio by introducing Pyronaridine, which has recently been granted prestigious pre-qualification from the World Health Organization (WHO) in Geneva.

12:30 PM

SAIL, NMDC are down up to 9% in 1 month; is it time to buy steel stocks?

Steel stocks have been reeling under severe pricing pressures, led by cheaper imports. Over the past one month, stock prices of steel companies have declined up to 9 per cent on the National Stock Exchange (NSE). Investors, however, may use the correction to enter the pack as pricing pressure may be bottoming out, believe analysts. Read more

12:13 PM

Alert: Axicades Technologies partners with UK's Highview Power for 50 MW LAES facility

11:57 AM

Here's why Hi-Tech Pipes shares hit 52-week high on August 20; details here

Shares of Hi-Tech Pipes were buzzing in trade on Tuesday, August 20, 2024. The share jumped as much as 5.35 per cent to hit a fresh 52-week high of Rs 192.75 per share. READ MORE

 

11:41 AM

This smallcap software products firm share rose 20% on Aug 20; here's why

Shares of Nucleus Software Exports were locked in a 20 per cent upper circuit at Rs 1,411.55 per share on the BSE in Tuesday’s intraday deals. This came after the company on Monday announced that its board of directors will meet on August 22 to consider a share buyback, which would be the company's third buyback following those in 2017 and 2021. READ MORE

11:26 AM

Hazoor Multi Projects share price up 5% on winning Rs 274 crore project bid

Shares of Hazoor Multi Projects jumped as much as 4.99 per cent to hit an intraday high of Rs 402.50 per share on Tuesday, August 20, 2024. READ MORE

 

11:21 AM

F&O Cues: Nifty needs to hold above 24,650; check bullish, bearish stocks

The Nifty futures rose by 0.1 per cent on Monday to 24,596. The August-month futures premium compared to the spot Nifty shrinked from Rs 44.50 to Rs 22.8 amid lower trading activity. Mere 1.52 lakh contracts were traded yesterday as against 3.8 lakh contracts traded in Friday's trading session. The open interest (OI) declined by nearly 3 per cent, suggesting possible exits of shorts from the system. READ MORE

10:58 AM

Crude oil prices hit 2-week lows; how to trade, key levels to watch today?

Oil prices tumbled to two-week lows on Tuesday morning in Asian trade with WTI future trading down 0.4 per cent at $73.50, following 3 per cent fall of Monday. Besides, oil prices have fallen 4.5 per cent in August so far as concerns about energy demand in China, the world's second-largest crude consumer, is bearish for oil prices. READ MORE

10:53 AM

Zomato share price falls as 2% equity changes hands via block deals on BSE

Shares of Zomato were down 2 per cent at Rs 257.10 on the BSE in Tuesday’s intra-day trade after 2 per cent equity of food aggregator changed hands via block deals. In the past two trading days, the stock declined 8 per cent from its record high level of Rs 280 touched on Monday, August 19. READ MORE