Share Market Highlights: Sensex tanks in dying hour to end at 58774, Nifty closes at 17522; Infosys, TCS among drags
Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic stock markets dived in the closing hour of trade as bears took control of Dalal Street. S&P BSE Sensex tanked 310 points or 0.53% to settle at 58,774 while the NSE Nifty 50 index was down 82 points or 0.47% at 17,522. Bank Nifty closed below 39,000 but broader markets were mixed. NSE Midcap 50 was up 0.14% on closing while Smallcap 50 gained 0.70%. India VIX zoomed 6% to settle above 19 levels.Maruti Suzuki India was the top gainer, up 0.8% on Sensex, followed by SBI, Dr Reddy’s, Titan, and Wipro. Bajaj Finance was down 1.76%, accompanied by Infosys, TCS, and Power Grid.
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16:18 (IST) 25 Aug 2022 Sensex, Nifty tank in dying hour of trade; F&O expiry, caution ahead of Jackson Hole symposium pull D-St lower
Dalal Street witnessed a volatile futures & options expiry session on Thursday as headline indices cut all gains and turned red in the dying hour of trade. S&P BSE Sensex tanked 310 points or 0.53% to settle at 58,774 while the NSE Nifty 50 index was down 82 points or 0.47% on the closing bell at 17,522. India VIX zoomed 6% to settle above 19 levels. Maruti Suzuki India was the top gainer, up 0.46% on Sensex, followed by SBI, Dr Reddy’s, Titan, and Wipro. Bajaj Finance was down 1.8%, accompanied by Infosys, TCS, and Power Grid. Bank Nifty closed below 39,000 but broader markets were mixed. NSE Midcap 50 was up 0.14% on closing while Smallcap 50 gained 0.70%.
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15:25 (IST) 25 Aug 2022 Only 5 Sensex stocks in green
As markets slipped in the closing minutes of trade, only 5 Sensex stocks were sitting in the green. Bharti Airtel was up 0.49%, followed by Maruti Suzuki India, Dr Reddy’s, Titan, and SBI.
15:00 (IST) 25 Aug 2022 Sensex, Nifty fall
Sensex and Nifty were down in the red ahead of the closing bell. Sensex was down 100 points, giving up the 59,000 mark. Nifty 50 slipped below 17,600.
14:47 (IST) 25 Aug 2022 India VIX nears 19
India VIX was in the green and nearing 19 levels on Thursday with less than an hour left before the closing bell.
14:19 (IST) 25 Aug 2022 A stock picker’s market
“While there’s been a sharp run up in stocks in recent times, select sectors will see money coming based on their prospects. For example, banking and credit cycle is expected to have bottomed out and this is the sector that faced the brunt of FII selling. Any revival in FII activity will see money move into this space. IT sector as another example is expected to be a be out of favour given that there’s margin pressure and slowdown expected. Apart from that, for small and midcaps, it is largely expected to be a stock picker’s market,” said Nitasha Shankar, Head – PRS Equity Research, YES SECURITIES.
14:00 (IST) 25 Aug 2022 Consumer durable firms eye up to 50% sales surge during festive season; premium, smart products to lead demand
Consumer durable and consumer electronics brands are expecting sales to increase by 30-40 per cent during the festive season starting this month in the run up to Diwali in November. The increase in sales will come mostly from premium and smart products. “During the festive season, we are expecting around a 40 per cent surge in sales as compared to last year. Usually, 35 per cent of our annual sales happen during this period,” Ravi Saxena, CEO & Founder, Wonderchef, told FinancialExpres.com.
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13:55 (IST) 25 Aug 2022 Top Sensex gainers
Kotak Mahindra Bank was up 1.45% as the top Sensex gainer, followed by SBI, Tech Mahindra, and Titan.
13:19 (IST) 25 Aug 2022 Ready-to-drink cocktails: 1 mln cans, bottles in next 1 year – O’Be Cocktails’ ambitious sales goal
Alcoholic ready-to-drinks market in India is anticipated to surge at a CAGR or 10.29 per cent in revenue over the forecast period 2021-26 and at a CAGR of 12.15 per cent in terms of volume, according to Research and Markets. And while established brands are jumping on the trend, startups too are launching their range and selling canned cocktails across India. Riding on the trend, O’Be Cocktails, which started operations in 2019, sold 100,000 bottles/ cans in the last 12 months; and is now looking to raise this ‘number to one million in the next 12 months through community engagement and outreach’. Read full story
13:17 (IST) 25 Aug 2022 NDTV share price hits 5% upper circuit for 2nd day straight, more than triples investors’ money YTD
NDTV share price touched 5 per cent upper circuit limit at Rs 403.70 apiece, also its 52-week high, amid the Adani group making an offer to take over the media firm. In two days, NDTV’s market valuation has jumped Rs 241.78 crore to Rs 2,602.71 crore on BSE. In the broader market, S&P BSE Sensex quoted 300 points or 0.54 per cent higher at 59,404 while the NSE Nifty 50 climbed 102 points or 0.6 per cent to 17,707. In the previous session too, NDTV stock price had touched the upper circuit. Read full story
13:13 (IST) 25 Aug 2022 Benchmark indices hold firmly in green
Benchmark indices were trading at day’s high with Nifty above 17700. The Sensex was up 376.28 points or 0.64% at 59461.71, and the Nifty was up 112.70 points or 0.64% at 17717.70.
12:40 (IST) 25 Aug 2022 Zomato share price up 30% in one month, may rally much more; check target price, rating – buy, sell, hold?
Zomato share price fell more than half a per cent down to Rs 61.90 apiece on BSE on Thursday. Kotak Institutional Equities has raised Zomato’s target price to Rs 85 from Rs 80 earlier, and has retained ‘buy’ rating on the stock. The target price implies a 36.5 per cent potential rally from the last close. The brokerage has increased its FY 2023-24 food delivery contribution margin on higher average order value (AOVs), and incorporated Blinkit in its estimates. Read full story
12:36 (IST) 25 Aug 2022 Adani Transmission, Coal India among 154 stocks to hit fresh 52-week high on BSE, 10 scrips at new lows
Domestic stock markets were trading with gains on the monthly futures & options expiry session. S&P BSE Sensex was hovering around the 59,400 mark after having gained close to 300 points or 0.5%. NSE Nifty 50 index was just shy of 17,700, adding 90 points. Benchmark indices have been closing with gains for two consecutive sessions so far. As bulls looked to be in control on Dalal Street as many as 154 stocks on the BSE zoomed to touch fresh 52-week high values. On the other hand, around 10 listed stocks were down at their lows.
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11:34 (IST) 25 Aug 2022 Key structural themes to aid corporate earnings, prefer financials, auto stocks over IT, energy
India’s economy and corporate earnings growth is expected to outpace other large emerging markets helped by six structural themes, said analysts at Bank of America Securities (BofA). Forecasting strong growth for the country, analysts are bullish on sectors that are domestic cyclical in nature. “We hence remain optimistic on domestic cyclical sectors such as Financials/Industrials/select Autos. We believe domestic plays would also benefit from a confluence of six structural themes (below) and reforms momentum …”, analysts said in a note. BofA is cautious on external facing sectors such as IT, energy, and materials.
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11:19 (IST) 25 Aug 2022 NDTV says Adani Group needs regulatory nod to buy its top shareholder
New Delhi Television Ltd (NDTV) on Thursday said Adani Group needs regulatory approval to buy its biggest shareholder, as its founders – who own the target firm – are barred from trading in securities markets.
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10:46 (IST) 25 Aug 2022 Resistance at 17750
“The SBI Ecowrap research expressed some optimism, stating that India’s GDP is likely to be substantially higher in Q1FY23, with growth expected to be about 15.7 percent, with a high likelihood of an upward bias due to various indicators showing good progress in the Indian economy. On the technical front, immediate support and resistance in Nifty 50 are 17475 and 17750 respectively. Bank Nifty immediate support and resistance are 38400 and 39500 respectively.”
~ Mohit Nigam, Head – PMS, Hem Securities
10:10 (IST) 25 Aug 2022 Only two Sensex stocks in red
HCL Technologies was down 0.41% as the worst performing stock on Sensex, followed by Infosys. All other Sensex constituents were up in the green.
09:23 (IST) 25 Aug 2022 17966 on the cards for Nifty
“A revisit of 17966 is on the cards with 17730 and 17800 poised to ask questions. Alternatively, inability to float above 17690 would diminish upside hopes, but we prefer to keep the downside marker at 17550,” said Anand James – Chief Market Strategist at Geojit Financial Services.
09:17 (IST) 25 Aug 2022 OPENING BELL
S&P BSE Sensex rose more than 250 points on Thursday morning to sit above 59,300 while the NSE Nifty 50 index breached 17,650. Bank Nifty neared 39,200.
09:04 (IST) 25 Aug 2022 Pre-open
Sensex and Nifty rose in the pre-open session on Thursday, ahead of the F&O expiry session.
08:57 (IST) 25 Aug 2022 Large-caps better placed
“The resilience of the Indian market even amidst global volatility can be attributed mainly to two factors: One, the strong growth momentum in the economy and two, the steady FII flows even when the Dollar has been appreciating. The FII inflows are steady since the market perception is that the dollar has peaked. So the near-term texture of the market is likely to remain ‘buy on dips.’ The Bank Nifty is strong and is likely to remain strong since it has fundamental support. Large-caps are better placed in the current phase of the market. The resilience of the capital goods segment reflects the expanding capex cycle theme,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
08:52 (IST) 25 Aug 2022 Wipro, NHPC, Lupin, Tata Power, Bandhan Bank, Maruti Suzuki, TVS Motor stocks in focus on weekly F&O expiry
Indian share market may open higher on Thursday. Ahead of the monthly futures & options (F&O) expiry session, SGX Nifty was up with gains, suggesting a flat to positive start for frontline indices BSE Sensex and NSE Nifty 50. In the previous session, domestic equities witnessed a volatile trading session but managed to end the day with marginal gains. “Nifty consolidated for the second consecutive day wherein the declines are getting bought. Amidst fragile global sentiments, FII buying is providing support to the market though investors are staying on sideline ahead of monthly F&O expiry on Thursday and are cautiously awaiting the outcome of Jackson Hole symposium meeting and US GDP data, due later this week,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
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08:51 (IST) 25 Aug 2022 Petrol and diesel price August 25: No change in fuel cost; Check prices in Delhi, Mumbai, other cities here
The price of petrol and diesel has been left unchanged for more than three months by OMCs on August 25. The last country-wide change in price came on May 21, when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and Rs 6 per litre on diesel. Since then, Maharashtra is the only state to have cut rates. Maharashtra government had announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel earlier last month. The cut in VAT is likely to cost Maharashtra’s state exchequer Rs 6,000 crore on an annual basis.
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08:43 (IST) 25 Aug 2022 Rupee may hold steady on risk aversion in markets, gains in regional peers; USDINR to trade with positive bias
The Indian Rupee is expected to trade steady on Thursday amid risk aversion in global markets and expectations of recovery in US Dollar. The domestic currency may track gains in regional peers as China’s stimulus plan bolsters the outlook for Asian economies. In the previous session, rupee consolidated in a narrow range and depreciated against the US dollar. At the interbank foreign exchange market, the local unit opened at 79.84 per dollar. It hovered in a range of 79.68 to 79.87 before finally settling at 79.85, down 2 paise over its previous close. Surge in crude oil prices and mixed to negative domestic equity markets restricted rupee’s movement.
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08:31 (IST) 25 Aug 2022 Bharti Telecom to increase stake in Airtel
“Bharti Telecom will further strengthen its shareholding in Airtel. Accordingly, Singtel and its affiliates have entered into an agreement to transfer ~3.33% shares to BTL for an aggregate amount of approx. SGD 2.25 billion, leaving direct shareholding of Singtel and Bharti in Airtel at ~10% and ~ 6% respectively. The acquisition is to be completed over a period of 90 days.”
08:24 (IST) 25 Aug 2022 Nifty needs to negate formation of lower high pattern to head to 17700-17777; maximum call OI at 18000
Nifty 50 index opened negative on Wednesday but took support at 17500 marks and moved in a positive to range-bound manner throughout the session. It failed to surpass the previous day’s highs but declines were being bought to settle the day above 17600 zones. Buying was visible at support zones but lack of momentum and strength in heavyweight could not speed up the up-move and it closed with gains of around 27 points. It formed a small Bullish candle on the daily scale but continues forming lower highs from the last three sessions.
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08:07 (IST) 25 Aug 2022 Buy these two shares for gains while bulls attempt a comeback, resistance at 17650
After showing a sustainable upside bounce on Tuesday, the Nifty shifted into a consolidation with a positive bias on Wednesday and closed the day higher by 27 points. After opening on a negative note, the market showed intraday volatility throughout the day. Upside momentum got strengthened during later part of the day and the Nifty closed near the highs.
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07:54 (IST) 25 Aug 2022 Immediate resistance to be watched at 17650
“The market is in an attempt to comeback from the lows and further sustainable upmove from here could bring bulls into a driver’s seat. Immediate resistance to be watched at 17650 and a sustainable move above this area is expected to pull Nifty towards another hurdle of 17850 levels in the short term,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
07:53 (IST) 25 Aug 2022 SGX Nifty in green
SGX Nifty was sitting 70 points higher on Thursday morning, suggesting a positive start to the day’s trade.
07:53 (IST) 25 Aug 2022 DreamFolks IPO sails through on day one as retail investors oversubscribe, NIIs follow, QIB demand muted
DreamFolks Services IPO sailed through on the initial data of sale with retail investors leading the subscription tally. The Rs 562 crore IPO opened for subscription earlier today after having raised Rs 252.9 crore from 18 anchor investors. The public issue saw massive interest from retail investors who have oversubscribed their portion of the initial public offering.
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