Sensex falls 388 pts, Nifty holds 19,350 amid weak global cues; PSBs outrun

Closing Bell on August 17, 2023: On the upside, only the Nifty PSU Bank index (up 1.5 per cent) outperformed the markets

4:16 PM

COMMENT:: Rising US bond yields likely to impact FII flows to Indian markets

"The mounting influence of weak global cues hindered the domestic market's ability to recoup, resulting in sustained selling pressure. The release of Fed minutes unveiled a divided stance among its members regarding the necessity of additional rate hikes, contrasting the previously anticipated rate pause. Concurrently, the Indian rupee experienced a decline due to the dollar index surpassing 103.5; however, likely intervention from the RBI offered a degree of support. Moreover, the escalation of US bond yields is expected to limit the influx of foreign investments into the Indian market, further impacting market dynamics."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:14 PM

REC soars 46% in 1 month; enters top-100 most valued firms by market-cap club

With Government of India, setting and pursuing the target of achieving 500 GW of renewable energy capacity by 2030, energy transition is expected to drive significant investment in the power sector. READ MORE

4:12 PM

Bata India rallies 5% on report company in talks to tie-up with Adidas

The footwear company is in talks with German sportswear giant Adidas for a strategic partnership for the Indian market, a report said. READ MORE

4:10 PM

IRFC slumps 6% as govt eyes 11% stake sale via OFS, stock up 49% in 2023

Shares of state run financier Indian Railway Finance Corporation (IRFC) retreated, a day after scaling an all-time high of Rs 52.7, on reports that the government is looking to partially sell its stake in the firm via on offer for sale (OFS). READ MORE

4:08 PM

Paytm, Zomato: Analysts cautious on new-age stocks on expensive valuations

Zomato, for instance, has been the only new-age company which has achieved profitability in the April-June quarter (Q1) of the current financial year (FY24). READ MORE

4:07 PM

Cochin Shipyard hits record high, up 37% in three days post strong Q1 show

The company's Q1 net profit had soared 123.7 per cent to Rs 109.41 crore for the June 2023 quarter as against Rs 48.91 crore in the year ago period. READ MORE

4:04 PM

HBL Power hits new high on healthy outlook; zooms 155% in three months

The Cabinet Committee on Economic Affairs on Wednesday approved seven multi-tracking projects at an estimated cost of Rs 32,500 crore, under the PM Gati Shakti National Master Plan. READ MORE

4:03 PM

GE T&D extends rallies on strong order wins in Q1; up 42% so far in August

So far in the current calendar year, the stock has zoomed 212 per cent, as against 7 per cent rise in the S&P BSE Sensex. READ MORE

4:01 PM

ITC hits 2-month low; stock down 12 per cent from record high

The board of ITC on Monday approved the Hotel demerger, with share entitlement ratio of 10:1 for the demerged entity. READ MORE

3:59 PM

ALERT:: Rupee ends weaker, down 20 paisa at 83.15/$

Source: Bloomberg

3:56 PM

Market breadth was marginally positive; 1,836 stocks advanced v/s 1,742 declining shares on the BSE

3:54 PM

BSE Smallcap Heatmap:: BF Utilities, BF Investments hits 20% upper limit; Onward Tech cracks 6%

3:52 PM

BSE Midcap Heatmap:: REC, Gland Pharma, Rajesh Exports shine; IRFC whines

3:50 PM

Nifty PSU Bank index advances 1.4%; Indian Bank soars 6%, PNB 2.5%

3:48 PM

Nifty Consumer Durables index rallies 1.8%; Amber Enterprises zooms 8%

3:47 PM

Broader indices buck trend, gain up to 0.3%; India VIX rises 1%

3:45 PM

Nifty 50 Losers:: ITC, LTIMindtree, Power Grid dip 2%

3:44 PM

Nifty 50 Gainers:: Adani Ports surges 4%; Titan jumps 2%

3:39 PM

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

3:36 PM

CLOSING BELL:: NSE Nifty50 settles with a loss of 100 pts at 19,365

3:34 PM

CLOSING BELL:: S&P BSE benchmark sheds 388 pts, ends at 65,151

3:26 PM

Global Check:: US, UK stock futures exhibit mixed trend

Source: Investing.com

3:15 PM

India August retail inflation expected below 7%: Motilal Oswal's Gupta

Retail inflation rose as of last count as prices of vegetables and cereals skyrocketed, beating all market expectations and putting pressure on the government to bring down prices. READ MORE

3:07 PM

Divi's stock may underperform on valuations, near term growth concerns

The stock of pharma major Divi’s Laboratories is down over 5.3 per cent in trade over the last six trading sessions. Given the sales miss in the June quarter and valuations that factor in earnings upsides over the next couple of years, the stock could remain under pressure in the near term. READ MORE

2:56 PM

China's property woes: Implications of the debt crisis at Country Garden

Since the sector's debt crisis unfolded in mid-2021, companies accounting for 40% of Chinese home sales have defaulted, most of them private property developers. READ MORE

 

2:47 PM

ALERT:: Dilip Buildcon wins Rs 699 cr order; stock up 3%

Dilip Buildcon informed the stock exchanges that its joint venture company Dilip Buildcon – Vijay Kumar Mishra Construction has received letter of acceptance (LOA) for new Project  - Construction of Malhargarh Pressurized Micro lifting major irrigation project on 'Turn Key' basis, order worth Rs 699.03 crore.

2:37 PM

Airtel Payments Bank revenue grows 41% to Rs 400 cr in Q1, profit up 143%

Airtel Payments Bank on Thursday said its revenue witnessed a year-on-year growth of 41 per cent to Rs 400 crore in the first quarter ended June 30, 2023. READ MORE

2:24 PM

Morgan Stanley cuts China's 2023 economic growth forecast to 4.7%

Earlier this week, J.P.Morgan cut China's 2023 GDP growth forecast to 4.8 per cent from 5 per cent earlier, while Barclays cut it to 4.5 per cent. READ MORE

2:15 PM

ALERT :: Dabur in focus

2:08 PM

DGCA approves IndiGo's flight services to Tashkent from September 6

A senior official on Thursday said the regulator has approved operations of IndiGo to Tashkent with effect from September 6. READ MORE