Sensex, Nifty eke out tepid gains; Jio Financial surges 5%, Adani Ports 2%

Closing Bell on August 29, 2023: The broader markets, however, held firm gains with the BSE MidCap and SmallCap indices settling 0.45 per cent and 0.69 per cent higher, respectively

4:12 PM

COMMENT:: Sector specific action seen in markets

"The buoyancy of the global market in anticipation of no further Fed rate hikes, due to subdued economic data, was noticeable in the Indian market as well. However, heavyweight stocks were muted compared to the sector-wise and mid & small-cap upsides. For instance, the chemical sector emerged as a clear winner due to improvements in product prices stemming from stability in the demand and supply scenario. Meanwhile, the metals sector rallied in anticipation of further green shoots from the Chinese government and central banks, aimed at improving the local economy. The benefits from festival demand were evident in sectors such as consumer durables, manufacturing, power, and real estate."

 

- Vinod Nair, Head of Research at Geojit Financial Services

4:11 PM

VIEW:: Nifty likely to remain rangebound

"The trading session began with a gap up, followed by range-bound trades as the Indian equities experienced a lacklustre performance. The support at the lower end remains solid at 19,245, serving as a barrier to prevent further declines. On the upper end, resistance is placed at 19,425; a breach of this level might lead to a more dependable rally. Expect a range-bound trading unless a clear breakout occurs on either side."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:11 PM

VIEW:: Immediate resistance for Bank Nifty seen at 44,650

"The Bank Nifty index remains engaged in a struggle between bulls and bears, resulting in a phase of sideways trading. The option data reflects a broad range, with notable open interest concentrations at both the 44,000 put option and the 45,000 call option. In terms of immediate technical levels, the index faces a resistance obstacle at 44,650. A decisive breach above this level is anticipated to ignite a fresh upward movement, potentially steering the index towards the 45,000 mark."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities
 

4:08 PM

Gokaldas Exports hits 20% upper limit on acquiring apparel firm Atraco

With this acquisition company will gain access to low-cost duty-free locations for manufacturing. READ MORE

4:06 PM

RIL 46th AGM: Brokerages insipid but keep positive ratings on stock intact

The stock could see a significant upside only on listing timelines of the retail and telecom businesses, first announced four years ago in 2019, analysts said. READ MORE

4:04 PM

Bharat Forge hits 52-week high as arm secures contract worth Rs 287.5 crore

Last week, Kalyani Strategic Systems bagged two export orders aggregating to EURO 93.87 million (around Rs 850 crore) from friendly countries for supply of components and armoured vehicle chassis. READ MORE

4:03 PM

SJVN hits new high on securing new orders

The stock has rallied over 90 per cent so far in FY24 on the back of strong order inflows. READ MORE

3:59 PM

PG Electroplast soars 10% as Rs 500 cr QIP issue opens

The consumer electronics proposed to raise around Rs 500 crore through QIP, fixed the floor price of Rs 1641.09 per equity share for the issue. READ MORE

3:58 PM

Vodafone Idea hits 10-month high; gains 24% in six days

Last week, Care Ratings reaffirmed its rating and revised the outlook assigned to the long term bank facilities and non-convertible debentures of Vodafone Idea from 'Positive' to 'Stable'. READ MORE

3:56 PM

BEML rallies 13% on strong order book position; zooms 94% in 5 months

On August 7, BEML secured Letter of Acceptance from Bangalore Metro Rail Corporation (BMRC) for supply of Rolling stock contract 5RS-DM valued at approximately Rs 3,177 crore. READ MORE

3:55 PM

APL Apollo Tubes slips 3% amid promoter stake sale buzz

According to reports, the promoter was to sell stake close to 1 per cent stake via block deals. READ MORE

3:53 PM

Stock of this smallcap iron & steel company has zoomed 225% in 2 months

Shares of Jai Balaji Industries were locked at the upper circuit limit of 5 per cent at Rs 247.55 on the BSE in Tuesday's intraday deals amid heavy volumes. The stock of the smallcap iron & steel products company was quoting at its highest level since January 2011. READ MORE

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3:51 PM

Market breadth was positive; 2,070 stocks advanced v/s 1,521 declining shares on the BSE

3:49 PM

Nifty Metal index gains 1.3%; Jindal Stainless, Jindal Steel lead

3:47 PM

BSE Smallcap Heatmap:: Gokaldas Exports zooms 20%; Titagarh, DB Realty tumble

3:46 PM

BSE Midcap Heatmap:: Deepak Nitrite, JSW Energy soar up to 6%; Union Bank dips 6%

3:45 PM

Broader indices gain up to 0.7%; India VIX slips 1.4%

3:41 PM

Nifty 50 Losers:: Airtel, HUL, RIL top laggards

3:40 PM

Nifty 50 Gainers:: Jin Fin hits 5% upper limit; UPL, Hindalco shine

3:38 PM

Sensex 30 Heatmap:: 21 Gainers v/s 9 Losers

3:37 PM

CLOSING BELL:: NSE Nifty50 finishes at 19,343, adds 37 pts

3:33 PM

CLOSING BELL:: S&P BSE Sensex ends higher for 2nd straight day, gains 79 pts

3:21 PM

Global Check:: UK stock futures rally up to 1%; US flat

Source: Investing.com

3:12 PM

Vedanta seeks to identify its dollar bondholders as $2 billion debt looms

Vedanta has engaged a corporate advisory firm Morrow Sodali to identify owners of notes that mature in January 2024, August 2024 and March 2025, according to a notice sent last week. READ MORE

3:03 PM

ALERT:: Gas cylinders under Ujjwalal Scheme to be Rs 200 cheaper

The Cabinet has decided to cut prices of gas cylinders under the Ujjwala Scheme by Rs 200 per cyclinder; reports CNBC TV-18

2:54 PM

Stock of this smallcap iron & steel company has zoomed 225% in 2 months

Shares of Jai Balaji Industries were locked at the upper circuit limit of 5 per cent at Rs 247.55 on the BSE in Tuesday's intraday deals amid heavy volumes. The stock of the smallcap iron & steel products company was quoting at its highest level since January 2011. READ MORE

2:45 PM

ALERT:: NBCC bags Rs 66 cr order from Indian Medical Association; stock trades flat

In a regulatory filing on Monday, NBCC said it bagged a project management consultancy work order worth Rs 66.32 crore from the Indian Medical Association (IMA). READ MORE

2:35 PM

ALERT:: Hero MotoCorp launches Karizma XMR; stock up over 1%

Hero MotoCorp on Tuesday launched its most expensive product in India, Karizma XMR. The price of the motorcycle will start from Rs 1.73 lakh (ex-showroom). The bookings for the bike will open at 2:10 pm on Tuesday. READ MORE

2:26 PM

Maruti Suzuki plans to double production capacity to 4 mn over 8 years

The automaker also expects export volumes to touch 800,000 cars by fiscal 2031, Chairman R.C. Bhargava told shareholders at the meeting. As of fiscal 2023, it exported 259,333 cars. READ MORE

2:15 PM

ALERT:: Gillette India Q4 net jumps 36%; stock up 2%

Gillette India today reported a 35.7 per cent growth in Q4 net profit at Rs 91.75 crore for the quarter ended June 2023 when compared with Rs 67.59 crore in the corresponding quarter a year ago. Total income was up 12.6 per cent YoY at Rs 624.22 crore from Rs 554.41 crore.