Stock Market Highlights, Aug 5: Sensex tanks 2,223 points; Nifty ends near 24,050 amid global rout

Stock Market Highlights today, August 5: Bears took over as 45 out of the 50 listed stocks on Nifty50 posted a negative closing, with Tata Motors, and ONGC being the top laggards

3:56 PM

Tech View :: Key levels to watch on Nifty, Bank Nifty

Nifty50
The Nifty has breached below the budget day low of 24,075 and hence violating the uptrend. It has decisively closed below the 20-day moving average (24,575) indicating weakness. We believe that the Nifty is in the process of retracing the rally it witnessed from 21,280 – 25,078. Crucial Fibonacci retracement level is placed at 23,628 and 23,280 is the 20-week moving average. On the upside immediate hurdle is placed at 24,300 – 24,350.

 

Bank Nifty

The bank Nifty has also breached and closed below the previous swing low of 50440 suggesting continuation of the fall and is likely to drift lower towards 47,650 – 47,500 where the 200-day moving average is placed. The 20 week moving average is placed at 49,800, which can provide some relief however rallies towards 50,400 – 50,500 should be used as a selling opportunity.

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

3:47 PM

Comment :: 'Eyeing 23,250-23,400 zone as key support for Nifty'

We may see continued volatile swings with a negative bias due to multiple global headwinds, including the unwinding of Yen carry trades, recession fears in the US, and escalating tensions in the Middle East.

On the index front, we are eyeing the 23,250-23,400 zone as key support for Nifty, while the 24,500-24,700 zone will act as resistance in the event of a rebound.

Traders should align their positions accordingly and prefer a hedged approach. Investors, on the other hand, should view this correction as an opportunity to accumulate quality stocks on dips.

Views by:  Ajit Mishra – SVP, Research, Religare Broking

3:46 PM

Comment :: What all happened in the markets today?

The global market was jolted into a cautious mode by recessionary fears in the US following disappointing job statistics and an unwinding of carry trade following the rapid rise of the yen. The effects were felt by the domestic market as well and is expected to impact in the near-term. Nevertheless, the market showed resilience at day's low and recovered to close above 24,000.

Historically, the Indian market had showcased a solid track record of outperformance compared to the global market, in the long-term. This trend is expected to stay as GDP growth is forecast to be robust for the decade aided by progressive policies, fiscal prudence, and a favourable political landscape.

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

3:45 PM

Rupee ends at record low :: Rupee weakens to 83.85/$

3:43 PM

BSE Stats :: M-cap of all BSE listed cos drops to Rs 441.8 trillion

>> Nearly 600 stocks freeze at lower circuits

>> Little ober 650 stocks end higher vs over 3,400 declining stocks

3:40 PM

ALERT :: India VIX ends at 20.3 level, up 42.23%

3:39 PM

Broader markets :: Mid, SmallCap indices plunge

3:38 PM

Sectoral trends :: Media, Metal, Realty, PSB indices decline over 4% each

3:37 PM

Sensex Heatmap :: 28 of 30 stocks sink; TaMo tanks over 7%, HUL, Nestle only winners

3:35 PM

Closing Bell :: Nifty tests 24,050 at close

3:34 PM

Closing Bell : Sensex cracks 2,223 points amid global selling

3:28 PM

Stop SIP or use crash as opportunity? What should your market strategy be?

"Every market decline should be viewed as an opportunity to establish new long positions for long-term holding. The Nifty50 has major support in the 24,200-24,100 range, and prices are unlikely to fall below this zone, while the Sensex has significant support around 78,400, near the 55-day EMA," said Vishnu Kant Upadhyay, AVP, Research and Advisory at Master Capital Services Ltd. The general advice: Keep Calm. Stick to Asset Allocation. Stay Invested. READ MORE
 

3:22 PM

Lupin Q1 Preview: Steady US sales, market share gains to boost profits

According to analyst estimates compiled by Business Standard, lupin may see its average revenue rise by 6.6 per cent year-on-year (Y-o-Y) to Rs 5,133 crore as against Rs 4,814 in the first quarter of FY24. Sequentially the topline may increase by 3.4 per cent compared to Rs 4,960 crore in Q4FY24 READ MORE

3:13 PM

Marico Q1 result: Profit rises 8.7% to Rs 464 cr on hair oil demand

Total revenue from operations increased 6.7 per cent to Rs 2,643 crore, marking its biggest growth in more than two years. Revenue from India, which made up three-fourths of total revenue, climbed 7.4 per cent. READ MORE

3:01 PM

ALERT:: Aban Offshore reports turnaround in Q1; stock up 1%

Aban Offshore in an exchange filing today said the company's posted a net profit of Rs 5.73 crore in Q1FY25. The company had reported a net loss of Rs 69.79 crore in the year ago quarter. Tota income surged 73.7 per cent YoY to Rs 45.83 crore from Rs 26.38 crore.

2:52 PM

ALERT:: Vijaya Diagnostic Q1 net rises 20%; stock up marginally

Vijaya Diagnostic Centre in an exchange filing today said the company's Q1FY25 net profit increased by 19.6 per cent to Rs 313.50 crore when compared with Rs 262 crore in Q1FY24. Revenue from operations rose up 29.1 per cent YoY to Rs 1,562.20 crore from Rs 1,210.50 crore.

2:43 PM

VRL Logistics stock tanks 7% on weak June quarter show; profit tumbles 61%

The company net profit slipped nearly 61 per cent year-on-year (Y-o-Y) to Rs 13.4 crore in the June quarter of FY25, from Rs 34 crore in the June quarter of FY24. READ MORE

2:35 PM

ALERT:: SPARC posts loss in Q1; stock down 4%

Sun Pharma Advanced Research Company (SPARC) in an exchange filing today said the company's posted a net loss of Rs 95.90 crore in Q1FY25. The company had reported a net loss of Rs 95.35 crore in the corresponding quarter a year ago. Tota income declined 46.2 per cent YoY to Rs 18.37 crore from Rs 34.14 crore.

2:25 PM

MTNL, Cochin Shipyard, Atul Auto among 505 stocks locked in lower circuits

As many as 505 stocks were locked in their lower circuits on the BSE on Monday at 11:51 AM, after a sharp sell-off in mid, small and micro-cap stocks swept markets. READ MORE

2:16 PM

ALERT:: Marico Q1 net rises 9%; stock jumps 2%

Marico in an exchange filing today said the company's Q1FY25 net profit rose by 8.7 per cent to Rs 474 crore when compared with Rs 436 crore in Q1FY24. Total income was up 6.2 per cent YoY at Rs 2,680 crore from Rs 2,523 crore.

2:09 PM

IndiGo to introduce flights to 7 new global destinations by end of FY25

India’s largest airline, IndiGo, is set to expand its international footprint with seven new destinations within the current financial year, according to CEO Pieter Elbers. This announcement came during an event in New Delhi celebrating the airline’s 18th anniversary of operations. READ MORE

1:59 PM

Market check:: Sensex off day's low, still down over 2,000 pts

1:54 PM

Stock market crash, Aug 5: What should investors do amid US recession woes?

The D-Street witnessed bloodbath on Monday amid major sell-off by global peers. The Sensex sank to an intraday low of 78,295 points, plunging 2,686 points, while the Nifty plummeted 823 points. READ MORE

1:44 PM

Sheela Foam stock price tanks 9% on weak Q1FY25 operational performance

The fall came after the company posted a weak set of operational performance in the June quarter of FY25 (Q1FY25). READ MORE

1:35 PM

Here's why everyone talking about Japanese Yen and Carry Trade

Japanese Yen, a favourite for carry trade, has appreciated by 10 per cent in the last three weeks; thus, prompting fears of large scale unwinding and its ripple effects on global markets. READ MORE

1:25 PM

Titan tanks 8% after tepid Q1FY25 show: Should you buy, sell or hold?

Shares of Titan fell 7.56 to Rs 3201 per share on the BSE in Monday’s intraday deals. This came after the company reported a marginal decline in net profits on a year-on-year (YoY) basis for the first quarter of financial year 2024-24 (Q1FY25). READ MORE

1:17 PM

Tech layoffs 2024: IT companies lay off 100,000 employees till July 2024

Layoff trends in the tech sector continued in July 2024, with the loss of over 8,000 jobs across 34 tech firms. This brings the total number of layoffs for the year to 124,517 from 384 companies around the globe. READ MORE

 

1:08 PM

Why SBI stock fell 5% after Q1 result? Buy, sell, hold? Check strategy here

SBI share price today: State Bank of India (SBI) share price today fell 5.2 per cent to Rs 804 per share on the BSE on Monday. This comes amid a broader sell-off in Indian stock markets and after the lender posted in-line April-June (Q1) quarter results. READ MORE

12:57 PM

Asian Markets Sell-Off: Nikkei tanks 13%, Kospi 5% amid US recession fears

Other key Asian markets also suffered heavy losses, with South Korea's Kospi, Hong Kong's Hang Seng, and Australia's ASX 200 all plunging between 3 per cent and 11 per cent. READ MORE

12:39 PM

Sensex, Nifty fall today on global worries but IPO GMPs remain steady

A GMP is the premium amount at which IPO shares are traded before they are listed on the stock exchanges. This also indicates investor sentiment towards public issues. READ MORE