Stock Market Highlights, Aug 9: Sensex climbs 820 pts; Nifty hold 24,350; Ola hits 20% upper circuit

Stock Market Highlights on August 9: After making a flat debut on the bourses, shares of Ola Electric Mobility rallied northward, surging up to 20 per cent to hit the upper circuit on the BSE, and NSE

4:02 PM

Tech View :: 'Nifty may extend pullback rally towards 24,651'

Nifty50
On the daily charts, we can observe that the Nifty has witnessed a fall from 25,100 – 23,900 and is now in the process of retracing that fall. It can rally towards 24,520 – 24,651 where the 50% and 61.82% Fibonacci retracement levels of the fall are placed. The immediate support on the downside is placed at 24,200 – 24,150 where the 40 day average is placed.

 

Bank Nifty

The Bank Nifty also witnessed a consolidation and managed to close in the green. PSU banks saw a sharp surge in trade today.  Overall, the bank Nifty can also move in tandem with the overall market and witness a pullback towards 50750 – 50800. Immediate support is placed at 50100 – 50000.

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

3:49 PM

Comment :: 'Lack of fresh triggers, subdued earnings will cap rally'

Positive US jobless claims data eased the fears of recession and provided a favourable broader market reaction. The IT index outperformed in expectation of improved spending. Though the sentiment is gaining traction, a lack of fresh triggers and subdued earnings will be a deterrent for higher valuation. To safeguard the sentiment, investors are advised to shift their focus from growth stocks to value stocks

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

3:47 PM

Rupee Update:: Rupee ends marginally higher

3:43 PM

Stock Alert :: Ola Electric fires up on debut, soars 20%

3:42 PM

Broader markets :: MidCap index outperforms, SmallCap trails

3:40 PM

Sectoral trends :: PSU Bank index ends nearly 2% up, Auto 1.7%

3:38 PM

Sensex Heatmap :: Only 3 stocks settle with losses

3:37 PM

Stock Market Closing Bell :: Nifty holds 24,350

3:36 PM

Stock Market Closing Bell :: Sensex jumps 820 pts

3:28 PM

IPO Calendar next week: 7 IPOs to open; FirstCry to debut. Check FULL LIST

Shares of Unicommerce eSolutions and Brainbees Solutions (Firstcry) are scheduled to make their debut on the BSE and NSE on Tuesday, August 13, 2024. The grey market premium (GMP) for both public issues suggests a positive listing for the company's shares. READ MORE

3:14 PM

Info Edge stock rallies 5% on steady Q1 show; matrimony biz grows 38% YoY

The company reported 9.3 per cent growth in its revenue from operations at Rs 638.9 crore on a standalone basis for June quarter of FY24, compared to Rs 584.3 crore in the corresponding quarter of the previous fiscal.  The company’s profit after tax (PAT) surged by 13.79 per cent year on year (Y-o-Y) at Rs 232 crore versus Rs 200 crore in Q1FY24.  READ MORE

3:03 PM

Trent hits record high on strong June quarter earnings; stock zooms 13%

At 02:04 PM, Trent was trading 11 per cent higher at Rs 6,254.85, as compared to 1.04 per cent rise in the BSE Sensex. The average trading volumes on the counter rose over three-fold, with a combined 4.7 million equity shares changed hands on the NSE and BSE. READ MORE

2:50 PM

ALERT :: Berger Paints announces Q1 results; proft slips 0.2% YoY to Rs 353.6 cr

2:47 PM

Grasim revenue up 9% at Rs 33,861 cr; net profit falls 23.4% to Rs 1,208 cr

Grasim Industries, the BSE-listed holding company of the Aditya Birla Group, reported consolidated revenue of Rs 33,861 crore in the June quarter, up by 9 per cent on a year-on-year (Y-o-Y) basis, driven mainly by strong performance from its diversified business portfolio. READ MORE

 

2:42 PM

Amazon India sets up 4 hubs to deliver relief material in less than 24 hrs

E-commerce giant Amazon India on Friday said it has set up four hubs, including a temporary hub in West Bengal, to deliver urgent relief material in less than 24 hours, as part of its disaster management strategy. READ MORE

2:41 PM

India's equity MF inflows ease off record high levels in July, shows data

Inflows into India's equity mutual funds moderated in July to Rs 37,113 crores ($4.42 billion), easing off record high levels hit in the previous month, data from the Association of Mutual Funds in India (AMFI) showed on Friday. READ MORE

2:37 PM

ALERT :: IRB Infra announces Q1FY25 results

2:27 PM

ALERT :: Electronics Mart reports Q1 results; profit jumps over 20% YoY to Rs 72.4 cr

2:25 PM

Trent hits record high on strong June quarter earnings; stock zooms 13%

Shares of Trent hit a record high of Rs 6,375, surging 13 per cent on the BSE in Friday’s intra-day trade amid heavy volumes after the company reported 133 per cent year-on-year (YoY) jumped in its standalone profit before tax (PBT) at Rs 450 crore in June 2024 quarter (Q1FY25). The company had posted PBT of Rs 193 crore in a year ago quarter (Q1FY24). READ MORE

2:16 PM

Godrej Prop stock soars 3% on land parcel win; Rs 5k cr revenue potential

Godrej Properties stock soared up to 3.43 per cent, at Rs 2,975 per share on the BSE in Friday’s intraday deals. The stock price surged after the company in an exchange filing said that it has emerged as the highest bidder for 2 land parcels in Greater Noida. READ MORE

2:09 PM

Kolte-Patil Developers hits 52-week low on weak Q1 show; stock slips 4%

Shares of real estate developer Kolte-Patil Developers fell as much as 4.01 per cent to hit a fresh 52-week low of Rs 357 per share on Friday, August 9, 2024. READ MORE

1:58 PM

Zydus Lifesciences hits new high on USFDA nod for drug with sales of $2 bn

Zydus Lifesciences stock surged as much as 2.61 per cent, hitting its all time high at Rs 1313.05 per share on the BSE in Friday’s intraday deals. The stock price surged after the company received final approval from the United States Food and Drug Administration (USFDA) to market Valbenazine capsules in the dosage of 40 mg, 60 mg, and 80 mg. The drug is a generic equivalent of US reference listed drug Ingrezza capsules. READ MORE

1:44 PM

Are these 10 penny stocks worth your money? What charts say

As of August 08, 2024, as many as 195 out of 2,791 stocks traded on the National Stock Exchange (NSE) quoted below Rs 20-mark; this implies 1 out of every near about 14 stocks traded below Rs 20 as of date. Out of 195, a total of 105 stocks had closed below the Rs 10-level. READ MORE

1:30 PM

Lupin stock rallies 227% in 15 months; set to hit a new high after 9 years

Shares of Lupin hit a multi-year high of Rs 2,119, gaining 3 per cent on the BSE in Friday’s intra-day trade, extending its rally after the company posted strong earnings in June quarter (Q1FY25), and healthy growth outlook. READ MORE

1:14 PM

Sobha zooms 5% after Q1FY25 results; overall sales value jumps 28% YoY

Shares of real estate developer Sobha surged as much as 4.52 per cent to hit an intraday high of Rs 1,770 per share on Friday, August 9, 2024. READ MORE

12:58 PM

Unicommerce eSolutions IPO allotment: See status, GMP, likely listing price

The shares of Unicommerce eSolutions are scheduled to be allotted today. Once the allotment is finalised, investors can check the allotment status by visiting the official website of BSE or Link Intime India, the registrar for the issue. Alternatively, one can follow these links to check the allotment status directly: READ MORE

12:52 PM

Stock Market Check :: Sensex holds gains, trades in narrow range

12:47 PM

NBCC zooms 12% on Rs 15,000 cr order win for building satellite township

NBCC secured the work order from Srinagar Development Authority for development of satellite township spread over 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar in Jammu and Kashmir, the company said in an exchange filing. READ MORE

12:42 PM

ALERT :: Granules India announces ANDA approval for Trazodone tablets

>> Granules India Limited has announced that the US Food & Drug Administration (USFDA) has approved its Abbreviated New Drug Application (ANDA) for Trazodone Hydrochloride Tablets USP, 50 mg, 100 mg, 150 mg, and 300 mg.

>> Trazodone tablets are indicated for the treatment of major depressive disorder in adults. 

>> The current annual US market for Trazodone tablets is approximately $128 Million, according to MAT June 2024, IQVIA/IMS Health.

12:34 PM

Oil India rallies 7%, hits record high post Q1 results; ONGC surges 4%

However, earnings before interest, tax, depreciation and amortisation (Ebitda), at Rs 2,540 crore, was largely in line with analysts' estimate as lower crude sales volume and realisation was offset by higher gas sales volume and realisation. READ MORE