FIRST TRADE: Sensex trades flat, Nifty tests 19,300; mid- and small-caps outperform

Stock market today:  The Indian share market on Monday, August 28, opened higher, taking cues from Asian markets after China announced new measures to support its struggling markets and as global stocks weathered a slightly hawkish US interest rate outlook. However, the indices quickly pared most of their gains and started trading flat.

Last seen, the S&P BSE Sensex was trading at 39 points, or 0.06 per cent higher at 64,925.35 levels, while the NSE's Nifty was trading at 19,288.70 levels, up 23 points, or 0.12 per cent.

At the time of filing this report, Nifty Bank was flat at 44,259.8. Barring FMCG and IT, all indices traded in green. 

Nifty Mid Cap 100 and Small Cap 100 both traded half a per cent higher.

BUZZING STOCKS 

Bharat Electronics stock was up nearly 2 per cent after the company received new defense and non-defense sector orders worth Rs 3,289 crore.

Tata Steel shares were up over half a per cent as ACME Group signed a land agreement with the company's subsidiary, Tata Steel Special Economic Zone.

Larsen and Toubro and IOCL shares were trading in the green after forming a new joint venture company named GH4India Pvt. 

Vedanta shares were up over 2 per cent after the company got an arbitration award of Rs 9,545 crore in the Rajasthan block case.

Jio Financial Services stock was up over 2 per cent after Motilal Oswal Mutual Fund bought 3.72 crore shares (0.6 per cent). 

Bharat Heavy Electricals shares were up nearly 2 per cent on the back of orders worth Rs 2,242 crore received from NHPC. 

G R Infraprojects shares were up over 1 per cent after its joint venture M/s Dibang Power, received an order from NHPC on August 25 for the project worth Rs 3,637 crore. 

Indostar Capital scrip was up over 4 per cent after the company sold a significant portion of its legacy corporate loan book to Phoenix Arc. 

Brightcom Group stock touched the lower circuit of 5 per cent after the Enforcement Directorate (ED) issued a press release on raids conducted on August 23, 2023.

CCL Products stock was down nearly 3 per cent after reports about the production halt in Vietnam.

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