IT, HDFC Bank, M&M send Sensex 202 pts down; Adani Ent gains 4%, RIL 1%

Closing Bell on August 18, 2023: The Nifty50, meanwhile, ended at 19,310, down 55 points

4:08 PM

COMMENT:: Fears of Fed rate hike, default risk in China dent sentiment

"Concerns regarding inflation and shifts in investor preferences towards safer assets dampened overall market sentiment for domestic equities. Fears of a Fed rate hike, coupled with a decline in global equities, exerted additional downward pressure, specifically on IT stocks. Higher US bond yields and default risk in China are poised to prompt FIIs to adopt a more prudent stance when considering investments in emerging markets."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:07 PM

COMMENT:: Monsoon worries weigh on markets

"Benchmark Indices ended in the red today on the back of profit taking seen in IT stocks as well as PSU stocks. The 6% deficiency in the Monsoon was an important factor with several states witnessing deficits across districts. The Evergrande Bankruptcy in China though was brushed away since real estate loans in India are by and large regulated well in India now."

 

- S Ranganathan, Head of Research at LKP securities
 

4:05 PM

RIL rebounds 3% from day's low ahead of Jio Financial listing on August 21

Shares of Reliance Industries touched an intra-day high of Rs 2,576, bouncing back nearly 3 per cent from its intra-day low of Rs 2,508.50 on the BSE. READ MORE

4:04 PM

Adani Group shares in demand; Adani Power, Energy Solutions surge up to 12%

According to reports, Abu Dhabi National Energy PJSC (TAQA) is looking to double down in India and evaluating a large exposure in the expansive power businesses of Gautam Adani. READ MORE

4:03 PM

Concord Biotech lists at 21% premium; ends 27% higher v/s issue price

The shares of the biopharma company listed at Rs 900, a 21 per cent higher against its issue price of Rs 741 per share on the National Stock Exchange and BSE on Friday. READ MORE

4:01 PM

GMM Pfaudler tanks 11% intra-day after huge block deal; ends flat

At 09:15 AM; around 5.92 million equity shares representing 13 per cent of total equity of GMM Pfaudler changed hands at the counter on the BSE, the exchange data shows. READ MORE

3:59 PM

Erratic monsoon may halt tractor stocks' rally in near-term: Analysts

Analysts believe the on-going rally across tractor stocks may face headwinds from spatial distribution of monsoon across the country, which could keep sentiments in check. READ MORE

3:58 PM

RBI appoints P R Seshadri as South Indian Bank MD & CEO; stock zooms 11%

RBI has approved the appointment of P R Seshadri as Managing Director & CEO of the Bank for a period of three years with effect from October 1, 2023. READ MORE

3:56 PM

CG Power surges 4% in weak market, hits new high on strong biz outlook

Shares of CG Power and Industrial Solutions hit a new high of Rs 429.80, surging 4 per cent on the BSE in Friday's intra-day trade, in an otherwise a weak market, on a robust and promising business outlook. READ MORE

3:55 PM

Sula Vineyards jumps 4% as wine tourism clocks record revenue over weekend

Shares of Sula Vineyards jumped 4 per cent to Rs 510 per share in Friday's intra-day trade as wine tourism clocked highest-ever revenue, visitors, and tastings over the extended weekend of August 12-14. READ MORE

3:53 PM

Gokaldas Exports soars 7%, nears record high on hopes of biz revival in H2

The management said they are optimistic about revival of the business in H2FY24, and are bullish on the long-term prospects of the company. READ MORE

3:51 PM

ALERT:: Rupee ends atop 83/$ for the second straight day

Source; Bloomberg

3:50 PM

Market breadth was negative; Nearly 2,100 stocks declined v/s 1,500 advancing shares on the BSE

3:49 PM

Nifty IT index shed 1.5%; TCS, Tech Mahindra, MphasiS decline 2%

3:47 PM

BSE Smallcap Heatmap:: Gabriel. Krsnaa, Vimta Labs zoom up to 12%; Hindustan Oil Exploration cracks 14%

3:45 PM

BSE Midcap Heatmap:: Adani Power, CG Power shine; Bajaj Holdings drops 3%

3:44 PM

Broader indices fall in tandem with benchmark Nifty 50

3:42 PM

Nifty 50 Losers:: Hero MotoCo, Tech Mahindra, TCS, Hindalco slip 2%

3:41 PM

Nifty 50 Gainers:: Adani Enterprises, Adani Ports rally over 3%; Eicher adds 1.4%

3:39 PM

Sensex 30 Heatmap:: 8 Gainers v/s 22 Losers

3:38 PM

CLOSING BELL:: NSE Nifty50 settles with a loss of 55 pts at 19,310

3:37 PM

CLOSING BELL:: S&P BSE benchmark ends 202 pts lower at 64,949

3:23 PM

Monsoon Alert:: India's August rainfall seen falling to record low

>> India's August rainfall is seen falling to record lows, weather office sources stated.

 

>> Rainfall up to August 17 said to be 40 per cent below normal.

 

3:13 PM

Private debt market in India set to grow more, says Standard Chartered

A growing list of global asset managers are setting up credit funds in India as they look to fill the funding gap, which was created after a shadow banking crisis spooked India's financial sector. READ MORE

3:03 PM

ALERT:: Indian Hume Pipe wins Rs 639 cr order; stock jumps over 5%

Indian Hume Pipe has received Letter of Award of the value of Rs 639.16 crore from Rural Water Supply & Sanitation, Odisha for Execution of Rural Piped Water Supply Project pertaining to six blocks of Puri District, Odisha including 5 years Operation and Maintenance on EPC contract.

2:56 PM

ALERT:: China announces sharp cut in Handling Fee at stock exchanges

China to cut Handling Fee at Shanghai, Shenzhen stock exchanges by 30%; Beijing Stock Exchange by 50%, reports CNBC TV-18

2:46 PM

UBS Group seeks to hire several private bankers to serve India's rich

UBS, which exited the private-wealth market in India almost a decade ago, is among global firms from HSBC Holdings Plc to Julius Baer Group Ltd. taking increased bets there. READ MORE

2:36 PM

About 20 foreign brands likely to set up stores in India this year

The brands are looking to set up stores in Mumbai, Delhi-NCR, Bengaluru, and Hyderabad in the first phase of the launch and will later expand their presence in Pune, Ahmedabad, Chennai, and Kolkata. READ MORE

2:27 PM

Market Check:: Sensex erases 400 pts loss; RIL leads recovery

2:18 PM

India needs major reforms in food supply management: RBI researchers

These reforms will lead to efficiency and productivity gains and enable "stable prices for consumers, assured supplies and remunerative proceeds for farmers," it said. READ MORE