Stock Market Highlights: Sensex, Nifty end flat, broader indices mixed ahead of Powell's speech

Stock Market Highlights on Friday, August 23: At closing bell, the BSE Sensex was at 81,086.21, up by 33.02 points. Nifty 50 was at 24,823.15, up marginally by 11.65 points

3:58 PM

Tech View: 'Nifty is also trading close to 78.6% retracement mark 24830 which shall restrict further upside'

Nifty opened on a flat note and consolidated during the day to close with gains of ~12 points. On the daily charts, we can observe that the Nifty has closed positive for the seventh consecutive trading session. The upmove appears a bit overstretched as it has been rising higher without any meaningful pullback towards the hourly moving averages. The hourly momentum indicator has a negative crossover along with a negative divergence. Thus, can be an intraday dip and hence caution on longs is advised. The Nifty is also trading close to the 78.6 per cent retracement mark 24830 which shall restrict further upside. Thus, the overall trend remains sideways, and the range of consolidation is 24200 – 25000.

Views by: Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas

3:50 PM

'Investors are exercising caution and awaiting Powell’s signals for more insights on the interest rate path'

Ahead of the FED chair Powell’s speech, the Indian indices oscillated around the flat trajectory and mixed global market sentiments further catalysed this scenario. Meanwhile, investors are exercising caution and awaiting Powell’s signals for more insights on the interest rate path. Most of the sectoral indices remained in red; in contrast, the auto sector excelled as the industry is preparing for festive season demand with multiple launches.

Views by: Vinod Nair, head of research, Geojit Financial Services

 

3:39 PM

Sector-Check: All but Auto index closed in red zone

Nifty Auto index was the only gainer, up over 1 per cent.

3:37 PM

Broader markets settle in negative territory

Nifty SmallCap closed 0.11 per cent lower while MidCap slipped 0.49 per cent.

3:36 PM

Index heatmap check

Tata Motors was the top gainer while Tech Mahindra was the top loser on BSE. 

3:34 PM

Stock Market Closing Bell: Nifty50 settles with marginal gains

Nifty50 closes with a gain of 22.25 points or 0.09 per cent at 24,833.75 levels.
 

3:33 PM

Stock Market Closing Bell: Sensex closes marginally higher

Sensex sttles 33.02 points or 0.04 per cent higher at 81,086.21 levels.

3:27 PM

Stock Market LIVE Updates: Tata Tech investor Alpha TC sells entire stake in co. for Rs 1,218.5 crore

Stock Market LIVE Updates: Tata Technologies investor Alpha TC Holdings today offloaded its entire stake in the company for a total transaction value of Rs 1,218.5 crore. 

The investor sold around 75 lakh shares in the company at an average price of Rs 1,019. crore in a block deal on Friday according to reports.

3:15 PM

Stock Market LIVE Updates: DCM Shriram COO Girish Yajnik resigns due to personal reasons

Stock Market LIVE Updates: DCM Shriram Industries today announced that the company's chief operating officer Girish Yajnik has resigned from the services of the company, citing personal reasons.
 

The company, in an exchange filing, said, "We hereby inform that Mr. Girish Yajnik, Chief Operating Officer (Business Group Chemicals), a Senior Management Personnel of the company, has resigned from the services of the company for personal reasons and his resignation has been accepted effective from the close of office hours on August 23,2024".

3:03 PM

Stock Market LIVE Updates: Sensex, Nifty in the red amid cautious market mood

Stock Market LIVE Updates: At 3 PM, the BSE Sensex was trading at 80,992.94, down by 60.25 points, or 0.07 per cent, while the broader Nifty 50 was at 24,806, down 5.30 points, or 0.03 per cent. 

2:55 PM

Stock Market LIVE Updates: DroneAcharya bags order to train 150 people in drone tech; shares rise nearly 4%

Stock Market LIVE Updates: DroneAcharya Aerial Innovations today announced that it has received a significant service order from the Indian Institute of Technology (IIT) Ropar.

This order entails training 150 individuals in drone technology as part of the Punjab Skill Development Mission (PSDM), the company said in an exchange filing.

The company added that the deal is valued at Rs 50.44 lakh

Under this collaboration, DroneAcharya will provide specialized drone pilot training to the selected individuals.

2:39 PM

Stock Market LIVE Updates: GPT Infra bags Rs 13 crore deal to supply sleeper coaches to Eastern Railway

Stock Market LIVE Updates: GPT Infraprojects today announced that it has received a contract worth Rs 13 crore from Eastern Railway, for the "Manufacture and supply of special sleeper to Eastern Railway."

The company's outstanding order book now stands at Rs 3,682 crore, with the total order inflow for fiscal 2025 standing at Rs 825 crore. 

2:29 PM

Stock Market LIVE Updates: Sun Pharma launches tedizolid phosphate tablets in India for acute skin infections

Stock Market LIVE Updates: Sun Pharma today announced that it has launched tedizolid phosphate tablets (200 mg) in India under the brand name 'Starizo'. 

Starizo is a novel, oxazolidinone-class antibacterial medicine, used to treat Acute Bacterial Skin and Skin Structure Infection (ABSSSI).

The comany said that it has obtained the development, manufacturing and commercialisation rights from MSD, for Tedizolid Phosphate in India.

2:20 PM

Stock Market LIVE Updates: Jindal Saw board approves 1:2 stock split; shares up marginally

Stock Market LIVE Updates: Jindal Saw today announced that its board of directors has approved a proposal to split the stocks of the company in a ratio of 1:2.

The company, in an exchange filing, said, the board of directors in their meeting held today approved the proposal for alteration in the equity share capital of the company by sub-division/split of existing equity shares with a face value of Rs. 2 each, fully paid up into equity shares with face value of Re. 1 each, fully paid up."

 

2:08 PM

Stock Market LIVE Updates: Bikaji Foods' board approves 55% stake buy in Ariba Foods for Rs 60 crore

Stock Market LIVE Updates: Bikaji Foods International today announced that its board of directors has approved the acquisition of a 55 per cent stake in Ariba Foods for a total consideration of Rs 60.5 crore. 
 

The company, in an exchange filing, said, "The Board of Directors of the Company at their meeting held on Friday, August 23, 2024, have considered and approved to make a strategic investment of ₹ 60,49,38,075 in Ariba Foods Private Limited for acquisition of 55% of total issued and paid-up equity share capital". 

The company, in an exchange filing, said that following the acquisition, Ariba Foods will become a subsidiary of the company. 

 

2:04 PM

Stock Market LIVE Updates: Sensex, Nifty trade slightly higher amid cautious market mood

Stock Market LIVE Updates: At 2 PM, BSE Sensex was trading at 81,093.88, up marginally by 40.69 points, or 0.05 per cent, while the broader Nifty 50 was at 24,833, up 21.50 points, or 0.09 per cent. 

1:50 PM

New IPO! Blackstone-owned IGI India files DRHP with Sebi to raise Rs 4k cr

New IPO! Blackstone-owned International Gemological Institute (India) has filed Draft Red Herring Prospectus (DRHP) papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). READ MORE

1:38 PM

What are investors betting on? FPIs add small and midcaps, sell large-caps

Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) have reduced their stakes in public sector undertakings in the last one year even though  PSUs have experienced notable growth in market capitalization, now comprising 15% of India's total market cap, according to a study by YES Securities. READ MORE

1:35 PM

Filing: Deep Industries bags order from ONGC

Deep Industries annonced that it has received Letter of Award from Oil and Natural Gas Corporation Limited for Hiring of services for a skid mounted modular type gas separation system and gas compression units including operation and maintenance at Rokhia GCS Tripura Asset for a period of 3 years. The total estimated value of this award is approximately Rs 63 crore.

 

1:30 PM

Lancor Holdings jumps nearly 7% after signing redevelopment MoU in Chennai

Shares of Chennai headquartered real estate developer Lancor Holdings jumped nearly 7% on the NSE in intra-day trades, after the company said that it has signed a memorandum of understanding (MoU) with many of the owners of a re-development project, named 'Lancor Ananya'. READ MORE

 

1:23 PM

Investors' glee! 14 stocks to trade Ex-Date next week for Dividend, Buyback

The upcoming week is poised to offer several opportunities for investors to participate in key corporate actions, including dividend payouts and share buybacks. As many as 11 companies, including Force Motors, Hindustan Zinc, Manappuram Finance, and KDDL, are set to trade ex-dividend. Additionally, VLS Finance and Technocraft Industries are among the stocks trading ex-date for share buybacks, according to NSE data. READ MORE

1:08 PM

IndiGo soars 9% in 2 days, hits record high on Jefferies' 'Buy' upgrade

Global brokerage Jefferies has upgraded IndiGo share to 'Buy' with a base price target of Rs 5,225, as the airline the consistently gained market share over the years led by a dense network of flights and supportive pricing power. READ MORE

1:02 PM

Filing: L&T Finance receives tax penalty notice

In an exchange filing, L&T Finance said, "We hereby inform that the Company has received an order dated August 22, 2024 (the Order) in the name of L&T Finance Limited (which has been merged with the Company effective December 4, 2023) whereby the Deputy Commissioner of State Tax, Sector 1, Dehradun, Uttarakhand – 248 001 has imposed a monetary penalty of Rs 35,345 under Section 73 of the Central Goods and Service Tax Act, 2017."

12:53 PM

Kaynes Technology shares surge on new manufacturing facility launch

Kaynes Technology stock price surged as much as 2.86 per cent at Rs 5165.80 per share on the BSE in Friday’s intraday trade. This came after Kaynes Technology announced the inauguration of its electronics manufacturing facility in Hyderabad. READ MORE

 

12:38 PM

What fuelled this Ashish Kacholia-owned stock's 74% rally in past 1 month

Shares of Balu Forge Industries (BFIL) hit a new high of Rs 679.95, as they rallied 5 per cent on the BSE in Friday’s intra-day trade. Today's jump in the company's stock price has extended the 13 per cent gain it had accrued in the previous three trading sessions. READ MORE

 

12:30 PM

Filing: Pidilite Industries receives tax penalty order

In an exchange filing, Pidlite Industries said, "We wish to inform you that the Company has received order dated August 22, 2024 through the GST portal, which was issued by the State Tax Officer, Ranchi, Jharkhand imposing penalty of Rs.2,06,038 in relation to the assessment conducted for the year 2019-2020 under applicable provisions of the Central Goods and Service Tax Act, 2017."

12:26 PM

Angel One, Zee, VIP Inds: Down over 20% in 2024; how should you trade here?

The year 2024 has been fairly positive for the Indian stock market so far, with the benchmark NSE 50 index 50 gaining as much as 14.2 per cent, and the BSE Sensex up 12.3 per cent thus far. Meanwhile, the broader - NSE 500 index has surged 20.6 per cent in the same period. Rail Vikas Nigam (RVNL) with a gain of over 214 per cent has been the major gainer so far. It is closely followed by Cochin Shipyard, up 206 per cent. READ MORE

12:24 PM

Filing: Shikhar Leasing and Trading fixes October 4 as ‘Record Date’ for bonus issue

In an exchange filing, the company said, “This is to inform that the Company has fixed Friday, 4th October, 2024 as the Record Date for the following purpose, subject to the approval of Members at the ensuing 40th Annual General Meeting of the Company scheduled to be held on September 24, 2024.”

12:20 PM

Filing: EaseMyTrip ropes in Jacqueline Fernandez as Brand Ambassador in long-term pact

EaseMyTrip, one of India's largest online travel tech platforms, has roped in Bollywood actress Jacqueline Fernandez as its brand ambassador. The strategic partnership is part of a long-term strategy to boost EaseMyTrip's brand presence and attract new customers and Bollywood fans.

 

12:17 PM

Filing: Classic Electricals fixes October 4 as ‘Record Date’ for bonus issue

In an exchange filing, Classic Electricals said, “This is to inform that the Company has fixed Friday, October 4, 2024 as the Record Date for the following purpose, subject to the approval of Members at the ensuing 39th Annual General Meeting of the Company scheduled to be held on September 24, 2024.”