Page 1259 - Markets News
Nifty50: Uptrend likely once it breaches 19,700; support seen at 19,300
A level below 19,300 would be considered bearish sign in Nifty for the short term, says Vinay Rajani, senior technical and derivative research analyst at HDFC Securities
 "Nifty50: Uptrend likely once it breaches 19,700; support seen at 19,300")
Nifty FMCG may see pullback; Auto index eyes breakout post range-bound move
According to Ravi Nathani, an independent technical analyst, Nifty FMCG index may witness a rebound after finding support at 51,636 and 50,650 levels
 "Nifty FMCG may see pullback; Auto index eyes breakout post range-bound move")
BofA Securities ups Nifty target to 20,500; sees markets get rerated
The foreign brokerage firm prefers large-caps over their mid-and small-cap peers as the valuations in case of the latter are rich and earnings growth estimates seem stretched.
 "BofA Securities ups Nifty target to 20,500; sees markets get rerated")
SBI's earnings growth may taper off in the near-term, warn analysts
State Bank of India (SBI) stock outlook: Analysts at Nomura termed SBI's sharp NIM decline "disappointing" as the lender's YoY NIM expansion of 31bp significantly trailed private banks.
 "SBI's earnings growth may taper off in the near-term, warn analysts")
Maruti to issue preferential equity shares to Suzuki to buy Gujarat plant
This will be done to acquire SMC's 100% stake in Gujarat plant
 "Maruti to issue preferential equity shares to Suzuki to buy Gujarat plant")
FPIs keep debt market bets steady despite narrowing bond yield gap
Spread between Indian and US 10-year bond yields at 3.14%, narrowest in over a decade
 "FPIs keep debt market bets steady despite narrowing bond yield gap")
Market share, margin gain hopes could drive further gains in Delhivery
The key takeaway in the quarter was the 19 per cent y-o-y growth in express parcel volumes and a 14 per cent rise in revenues of the segment
 "Market share, margin gain hopes could drive further gains in Delhivery")
Promoter pledging rises marginally to 1.36% in June quarter, shows data
Among the Nifty 50 components, highest promoter pledges were seen in Apollo Hospitals (16.3%), Asian Paints (7.3%), IndusInd Bank (45.5%) and JSW Steel (15%)
 "Promoter pledging rises marginally to 1.36% in June quarter, shows data")
Panel to decide reversal of erroneous transfers in demat accounts
Depositories approached Sebi, highlighting the challenges faced concerning obtaining OTP for such trade reversal
 "Panel to decide reversal of erroneous transfers in demat accounts")
Sebi plans to issue norms for dealing with unclaimed funds of clients
This will ensure that unclaimed funds of clients lying with the TMs are returned to the respective clients in a timely and efficient manner
 "Sebi plans to issue norms for dealing with unclaimed funds of clients")
NIIT Learning valued at Rs 5,000 cr; Concord Biotech IPO subscribed 25x
Shares of NIIT Learning Systems-demerged from NIIT-finished at Rs 374 during their trading debut on Tuesday
 "NIIT Learning valued at Rs 5,000 cr; Concord Biotech IPO subscribed 25x")
Sebi slaps Rs 20 lakh fine on 4 individuals for non-genuine trades
Sebi on Tuesday slapped fines totalling Rs 20 lakh on four individuals for indulging in non-genuine trades in the illiquid stock options segment on BSE
Sebi provides facility to remedy erroneous transfers in demat accounts
The committee will examine such erroneous transfers and provide an opportunity for hearing to both parties in the interest of principles of natural justice
Sebi categorises dues worth Rs 73,287 crore as 'difficult to recover'
DTR dues are those that could not be recovered even after exhausting all modes of recovery
Annapurna Swadisht to raise Rs 69.33 crore through preferential issue
Utilisation of funds raised in the first tranche will result in savings of around Rs 6 crore per annum by way of reduction in interest payment and rentals, he said
 "Annapurna Swadisht to raise Rs 69.33 crore through preferential issue")
Sebi looks to introduce disclosure requirements for unlisted companies
Derivatives contracts on scrips can be traded on recognised stock exchanges only if the underlying securities satisfy certain criteria
Sensex ends 107 pts down post choppy day; PSBs shine, M&M, JSW Steel dip
CLOSING BELL ON AUGUST 08, 2023: The NSE Nifty 50 ended 26 points lower at 19,571. Tech Mahindra, Wipro and Bajaj twins bucked the trend and finished with notable gains on Tuesday.
 "Sensex ends 107 pts down post choppy day; PSBs shine, M&M, JSW Steel dip")
Indian Bank soars 10% on heavy volumes; hits 5-year high in subdued market
The stock hit a 5-year high of Rs 381.40 and has zoomed 35% in two months and is inching towards its record high level of Rs 428 touched in November 2017
 "Indian Bank soars 10% on heavy volumes; hits 5-year high in subdued market")
Person giving advice to overseas clients exempted from registration: Sebi
Further, Sebi said that registered investment advisers can give investment advisory services to foreign portfolio investors (FPIs)
 "Person giving advice to overseas clients exempted from registration: Sebi")
Hero MotoCorp rides 4% higher on strong Harley Davidson X440 bookings
In an exchange filing, the company said that it would start production of the Harley Davidson X440 in September 2023 and commence deliveries from October onwards
 "Hero MotoCorp rides 4% higher on strong Harley Davidson X440 bookings")