Stock Market Highlights, Aug 30: Benchmarks log record close; Sensex tops 82,350, Nifty near 25,250

Stock Market highlights: The Sensex, and Nifty50 ended at record high closing levels ahead of the Q1 FY25 GDP data to be released today

4:02 PM

Stock Market Tech Outlook: 'Nifty may see trend reversal in coming months'

Nifty rose on Aug 30 with an upgap and closed at record highs. In the process it formed a doji like pattern.

On weekly charts, Nifty rose 1.66%, while on monthly charts it rose 1.14%. On monthly charts, Nifty has formed a hanging man type pattern, suggesting possibility of a reversal in the coming month. 

Nifty could take support from 24,971 while 25,400 on the upside could prove to be a resistance in the near term. April-June India GDP number due this evening could minorly influence sentiments either way on Monday.

 

Views by: Deepak Jasani, Head of Retail Research, HDFC Securities

3:53 PM

Stock Market Comment: Will the rally in Sensex, Nifty sustain?

Global markets are currently resonating with the US Fed’s pledges of a rate cut in September. The US & Indian markets have regained the recent highs, reflecting the continuation of this optimism. However, the dollar is strengthening given healthy US GDP growth, strong retail sales and expectation that the upcoming US job claims will be steady leading to shallow rate cuts in the future.

Though the domestic market is currently showing a positive bias, the Indian Q1 GDP growth is expected to be moderate, while premium valuation and a lack of fresh triggers could see further momentum buildup in value stocks.

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

3:50 PM

Currency check :: Rupee ends flat vs US dollar on Friday

>> Indian rupee ended at 83.87 per US dollar, unchanged from Thursday's close

3:48 PM

IPO Updates :: Baazar Style Retail, ECOS Mobility

>> Baazar Style Retail IPO has been subscribed 43 per cent thus far on Day 1. The bidding has been led by Employees (5.5x),retail investors (70 per cent), and NIIs (33 per cent).

>> The IPO of ECOS (India) Mobility has been subscribed 63.64x so far on the final day. The bidding has been led by QIBs (137x), NIIs 70.8x), and Retail investors (18.67x).

>> Bidding closes at 5:00 PM today
 

3:44 PM

Stock Market Closing Bell LIVE: The BSE MidCap and SmallCap indices outperform benchmark indices today

>> The BSE MidCap index hit a record high of 49,186.33 during the day

3:42 PM

Stock Market Closing Bell LIVE: Only Media, and FMCG indices ended in the red today

>> The gains across sectoral indices were led by the Nifty Realty index, the Nifty Pharma index, the Nifty Auto index, and the Nifty IT index 

3:38 PM

Stock Market Closing Bell LIVE: Bajaj Finance, M&M, NTPC, Power Grid lead the list of Sensex winners

>> While 23 stocks settled in the green on the Sensex on Friday, only 7 ended lower

>> The Sensex top gainers today were M&M, Bajaj Finance, NTPC, Power Grid, Bajaj Finserv, Bharti Airtel, Sun Pharma, and TCS

>> the Sensex top losers today were Tata Motors, HDFC Bank, RIL, Tech M, ITC, Nestle India, HCL Tech

3:36 PM

Stock Market Closing Bell LIVE Updates: Nifty holds 25,200 at close

>> Nifty50 index ends at 25,235.90, up 83.95 points or 0.33%

>> The NSE benchmark hit a record high of 25,268.35 during the day

3:34 PM

Stock Market Closing Bell LIVE Updates: Sensex ends over 200 points higher

>> The BSE Sensex index ended at 82,365.77 level, up 231.16 points or 0.28%

>> The index hit a record high of 82,637.03 intraday in a range-bound session

3:29 PM

Amid growing concerns of risks, Sebi amends rules to regulate finfluencers

"No person regulated by the Board (Sebi) or the agent of such a person shall have any direct or indirect association, with another person who provides advice or any recommendation, directly or indirectly, in respect of or related to a security or securities, unless the person is registered with or otherwise permitted by the Board to provide such advice or recommendation; or makes any claim, of returns or performance expressly or impliedly, in respect of or related to a security or securities, unless the person has been permitted by the Board to make such a claim," the regulator said. READ MORE

3:23 PM

Paytm surges 13% on heavy volumes; stock zooms 101% from May low

At 02:46 PM, Paytm share price was trading 12 per cent higher at Rs 621.50 as compared to 0.31 per cent rise in the BSE Sensex. The average trading volume on the counter nearly doubled as roughly 32 million equity shares had changed hands on the NSE and BSE, together, till the time of writing of this report. In the past two trading days, the stock has surged 16 per cent on the BSE. READ MORE

3:14 PM

Stock Market LIVE Updates: Adani Ports acquires 80% stake in Astro Offshore

Adani Ports and Special Economic Zone Ltd (APSEZ) has entered into a definitive agreement to acquire 80 per cent stake in Astro, in an all-cash deal for $185 million, implying an EV of $235 million and EV / FY25E EBITDA at 4.4x.

The transaction is expected to be value accretive from the first year itself. 

 

2:57 PM

Stock Market LIVE Update: ECOS Mobility subscription status

>> ECOS (Mobility) IPO subscribed over 35x thus far on final day

>> Bids are being led by QIBs and NIIs

2:43 PM

Stock Market LIVE Updates: Nifty Pharma hits fresh all-time high

Stock Market LIVE Updates: Nifty Pharma hits fresh all-time high of 23,275.50 levels.

2:41 PM

Stock Market LIVE Updates: RIL's 1:1 bonus shares explained; meaning, tax rules, and implications

Stock Market LIVE Updates: Reliance Industries Limited (RIL), India’s largest company by market capitalisation, made headlines during its 47th annual general meeting (AGM) held on August 29. Chairman and Managing Director Mukesh Ambani revealed that the company’s Board of Directors will meet on September 5 to discuss the issuance of bonus shares, potentially at a ratio of 1:1. This means that for every share currently held, shareholders could receive one additional share for free. READ MORE

 

2:39 PM

Stock Market LIVE Updates: Mastercard inks deal with boAt

Stock Market LIVE Updates: Mastercard inks deal with boAt to enable contactless payments on boAt's payment-enabled smartwatches. READ MORE

2:35 PM

Stock Market LIVE Updates: Bharat Forge renews corporate guarantee given to CitiBank N.A

Stock Market LIVE Updates: Bharat Forge has renewed a corporate guarantee given to CitiBank N.A., for the loan given to Bharat Forge America, Inc., a wholly-owned subsidiary of the company. 

2:32 PM

Stock Market LIVE Updates: This PSU upstream oil stock has zoomed 209% thus far in CY24

Stock Market LIVE Updates: Shares of Oil India continued their northward movement, to hit a new high of Rs 767.30 as they rallied 4 per cent on the BSE in Friday’s intra-day trade, on a healthy outlook. Thus far in August, shares of the state-owned upstream oil exploration and production company has surged 33 per cent. Moreover, they have soared 58 per cent after the company issued bonus shares in the ratio of 1:2 on July 2. READ MORE

2:30 PM

Stock Market LIVE Updates: Fintech has democratised financial services, success unmatched, says PM Modi

Stock Market LIVE Updates: Fintech has democratised financial services in the country by making loans, credit cards, investments and insurance widely accessible, said Prime Minister Narendra Modi on Friday, saying the sector's adoption is "unmatched". READ MORE

 

2:28 PM

Stock Market LIVE Updates: HDFC Bank announces GIGA, financial product for India's gig workers

Stock Market LIVE Updates: HDFC Bank has introduced GIGA, a financial suite designed for gig workers and freelancers. The programme aims to address the financial needs of India's burgeoning gig economy. READ MORE

 

2:26 PM

Stock Market LIVE Updates: Nifty MidCap hits fresh record high

Stock Market LIVE Updates: Nifty MidCap hits fresh record high of 59,461.45 levels.

2:25 PM

Stock Market LIVE Updates: Supporting, buying goods from each other to help Indian firms, says Piyush Goyal

Stock Market LIVE Updates: Commerce and Industry Minister Piyush Goyal on Friday urged domestic companies to support and buy goods from each other as it would benefit them in the long run and provide protection against any disruptions like the Pandemic. READ MORE

 

2:14 PM

Stock Market LIVE Updates: Is your portfolio heavy on growth strategy? Add dividend yield funds

Stock Market LIVE Updates: Among thematic funds, dividend yield schemes have rewarded investors with 24.26 per cent returns over three years ended August 27, 2024, according to Value Research. Even as markets continue to rise, Baroda BNP Paribas Dividend Yield Fund NFO opened for subscription on August 22. READ MORE

2:07 PM

Stock Market LIVE Updates: Fintech in India has played major role in democratising financial svcs, says PM

Stock Market LIVE Updates: The fintech sector in India has played a major role in democratising financial services in the country, making loans, credit cards, investments, and insurance accessible to all, said Prime Minister Narendra Modi on Friday at the Global Fintech Festival. READ MORE

 

2:02 PM

Stock Market LIVE Updates: HDFC Bank to sell Rs 10k cr in loan portfolios via pass-through certificate

Stock Market LIVE Updates: HDFC Bank, one of India’s largest private lenders, is planning to sell loan portfolios worth up to Rs 10,000 crore ($1.2 billion) using a rarely utilised debt instrument known as pass-through certificates (PTCs). This move is part of the bank’s strategy to reduce its exposure to certain sectors while addressing difficulties in raising deposits, according to a report by Bloomberg. READ MORE

1:59 PM

Stock Market LIVE Updates: Zydus Life gets warning letter from USFDA for Jarod manufacturing unit

Stock Market LIVE Updates: Pharma company Zydus Life gets warning letter from USFDA for Jarod manufacturing unit.  

"The Warning Letter summarises violations with respect to Current Good Manufacturing Practice (cGMP) regulations. The Warning Letter does not contain any data integrity related violations. This is further to our communication dated July 18, 2024, about Jarod facility receiving OAI status by the USFDA. This site was inspected

by USFDA from April 15 to April 23, 2024. The contents of the Warning Letter shall be made public by the USFDA in due course," the company said.
 

1:55 PM

Stock Market LIVE Updates: Stock ideas for Sept: TaMo, Mah Holidays can rally up to 28%, hint charts

Stock Market LIVE Updates: The equity market witnessed a roller-coaster ride in the month of August, with the benchmark indices starting the month at record highs, and then dipping before bouncing back and registering fresh peaks towards the end. The Sensex was up 0.8 per cent at 82,380 levels for the month, while the Nifty had gained 1.1 per cent at 25,230 levels. READ MORE

1:45 PM

Stock Market LIVE Updates: RVNL gets Rs 202-crore LoA from South Eastern Railway; shares gain over 4%

Stock Market LIVE Updates: Rail Vikas Nigam share price rose 4.4 per cent in Friday's (August 30) intraday trade. The stock registered an intraday high of Rs 605 per share on the BSE after the PSU railway company received a letter of acceptance (LoA) from Ser HQ Electrical/South Eastern Railway. READ MORE

1:32 PM

Stock Market LIVE Updates: UK insurer Aviva conspired to dodge India compensation & tax rules: DGGI

Stock Market LIVE Updates: An Indian tax agency has found that British insurer Aviva breached local regulations capping commissions to sales agents with a system of fake invoices and clandestine cash payments, according to a notice seen by Reuters. In an attempt to grow operations, Aviva's India business paid about $26 million between 2017 and 2023 to entities who purportedly provided marketing and training services, according to the tax notice sent to Aviva, dated August 3. READ MORE

1:27 PM

Filing: Aurionpro Payments goes live as online payment aggregator

Stock Market LIVE Updates: Aurionpro Payments goes live as online payment aggregator after RBI authorisation. The launch was officially announced at the Global Fintech Fest 2024 in Mumbai, India.