Page 104 - Stock Market

Blue-chips rise on financials boost; small, mid-caps hit fresh highs

The Nifty 50 index settled 0.25% higher at 19,444, while the S&P BSE Sensex gained 0.33% to 65,433.30

From Jio Financial to Zerodha, Indian mutual fund managers going 'passive'

Fund houses have launched 23 passive funds so far this year, half the 45 launched in 2022 and well above 10 in 2019, data from Value Research shows

Analysts turn cautious on Asian markets; India remains an outlier

Indian markets, analysts believe, are an outlier and can still justify expensive valuations amid a likely recovery in corporate earnings going ahead

Jio Financial Services reels under selling pressure, loses 5% again

Stock sheds Rs 16K cr in market value in two days; exclusion from Sensex, Nifty deferred

BSE postpones removal of Jio Financial Services from indices to August 29

BSE's circular said that if JFSL continues to hit the lower circuit in the next two days, the removal date will be deferred by another three days

Adani-led promoter group hikes stake in flagship firm AEL to 69.87%

Billionaire Gautam Adani-led promoter group has increased its stake in the group's flagship firm as the ports-to-energy conglomerate continues to recover from the effects of a report by US short-seller Hindenburg Research. Promoter group has increased stake in Adani Enterprises Ltd from 67.65 per cent to 69.87 per cent, according to a stock exchange filing. Promoter group firm Kempas Trade and Investment Ltd, which had a minimal stake in the firm, acquired 2.22 per cent in the open market between August 7 and August 18, it said. The stake increase comes at a time when US-based boutique investment firm GQG Partners has been buying shares in Adani group firms. GQG has increased its stake in Adani Ports & Special Economic Zone (APSEZ) to 5.03 per cent last month by way of a bulk deal, stock exchange filings showed. GQG now has a stake in five of the 10 Adani Group firms. On August 16, it bought a 7.73 per cent stake in Adani Power Ltd. Promoter group firms Worldwide Emerging Market .

US treasury 10-year real yield exceeds 2% for first time since 2009

Benchmark rose as much as 6 basis points to 2%, before easing little under that threshold, extending rise from 1.5% since mid-July. 30-year real yield up 6.6 basis points to 2.14%, new peak since 2011

FPIs' investment value in Indian equities gains 20% to $626 bn in June qtr

The value of foreign portfolio investors' holdings in the domestic equities reached USD 626 billion in the three months ended June 2023, which was 20 per cent higher from the year-ago period, according to a Morningstar report. This could be attributed to good performance in the domestic equity markets as well as strong net inflows from foreign portfolio investors (FPIs). According to the report, the value of FPIs' investments in Indian equities rose from USD 523 billion as of June 2022 to USD 626 billion at the end of June 2023. On a quarter-on-quarter basis, the value of such investment rose 15 per cent from USD 542 billion recorded in the three months ended March this year. This has helped in pushing FPIs' contribution to Indian equity market capitalisation marginally to 17.33 per cent for the quarter under review from 17.27 per cent for the March quarter. After pulling out funds to the tune of USD 3.2 billion from the Indian equities in the March quarter, FPIs took a sharp U-tu

Top headlines: Jio Financial shares to debut, big techs seek relaxation

Business Standard brings you the top headlines at this hour

Shares of Ambani's $20 bn Jio Financial Services set to debut in Mumbai

Jio Financial, which as yet boasts of little revenue but owns a 6.1% stake in Reliance, has already announced a partnership with BlackRock Inc. to set up an Indian asset management venture

Stocks to Watch: Jio Financial, Titan, Gujarat Gas, Tanla Platforms, KEC

Stocks to Watch on August 21, 2023: Jio Financial Services will be listed on the exchanges today. Experts believe the stock could top the Rs 300-mark on listing

Park Hotels owner files draft papers with Sebi to raise Rs 1,050 cr via IPO

Apeejay Surrendra Park Hotels Ltd, which runs hotels under the "The Park" brand, has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,050 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth Rs 650 crore and an offer for sale (OFS) of equity shares to the tune of Rs 400 crore by promoters and investor shareholders, according to the draft red herring prospectus (DRHP) filed on Saturday. Those offering shares in the OFS are Apeejay Surrendra Trust, Apeejay Pvt Ltd, RECP IV Park Hotel Investors Ltd, and RECP IV Park Co-Investors Ltd. At present, promoters and promoter group members hold a 94.18 per cent stake in the company, and the two investors own 5.82 per cent shareholding in the firm. Proceeds of the fresh issue would be utilised toward the payment of debt and for general corporate purposes. The company operates hospitality assets under its brands, The Park, The Park Collection, Zone by The Park, Zone .

China steps up efforts to stabilise stock markets as confidence slumps

The Hang Seng Index is down more than 8 per cent this year, ranking among the biggest global losers

Wall Street, yields take a breather as investors await more from US Fed

The MSCI world equity index, which tracks shares in 45 nations, was last down 0.24%

Markets decline on weak global trends, fresh foreign fund outflows

Equity benchmark indices fell in early trade on Friday amid bearish global cues and fresh foreign fund outflows. Markets also declined as IT stocks slipped. The 30-share BSE Sensex was down 297.62 points to 64,853.40. The NSE Nifty dipped 88.75 points to 19,276.50. From the Sensex pack, Tata Consultancy Services, Wipro, HCL Technologies, Infosys, Tech Mahindra, Nestle, Bajaj Finance and Bajaj Finserv were the major laggards. Larsen & Toubro, Axis Bank, Hindustan Unilever, Maruti, ICICI Bank and ITC were among the gainers. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the negative territory. The US markets ended lower on Thursday. Global oil benchmark Brent crude climbed 0.13 per cent to USD 84.23 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,510.86 crore on Thursday after a day's breather, according to exchange data The BSE benchmark had declined 388.40 points or 0.59 per cent to settle at 65,151.02 on Thursday. The Nif

Bata India rallies 6% 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

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

Fairfax sells 5.9% stake in IIFL Securities for Rs 118 cr via open market

Canadian billionaire Prem Watsa-backed Fairfax Group on Wednesday pared a 5.9 per cent stake in brokerage firm IIFL Securities for Rs 118 crore through open market transactions. Hamblin Watsa Investment Counsel Ltd (HWIC) Asia Fund, an affiliate of Fairfax Financial Holdings, offloaded shares of IIFL Securities in two transactions on NSE and BSE. Hamblin Watsa Investment Counsel Ltd A/C HWIC Asia Fund Class A Shares offloaded 1.20 crore shares on NSE and 60 lakh shares on BSE, amounting to a 5.9 per cent stake in IIFL Securities, as per the block and bulk deal data available with the NSE and BSE. The shares were disposed of in the price range of Rs 65.45-65.67 apiece, taking the combined transaction value to Rs 117.94 crore. Post the transaction, Fairfax's shareholding in IIFL Securities declined to 3.38 per cent from 9.28 per cent at the end of June quarter. Meanwhile, Theleme India Master Fund Ltd acquired 80 lakh shares, Zafar Ahmadullah bought 40 lakh shares on the NSE, while

Defence stocks pricing in all positives and offer limited upside: Analysts

However, the rally, which has been accompanied by high valuations, could stagnate in near term as companies may not meet investors' expectations of sustained performance every quarter, analysts say

Adani Power has shares worth $1 bn change hands in attempt to recover

The company's stock fell as much as 4.1% after the bunched trades to Rs 274.4 ($3.30) and based on the average price, the deals are worth $1 billion, according to Bloomberg calculations