Share Market Today HIGHLIGHTS: Sensex ends 217 pts lower from day's high, Nifty settles at 19,306; L&T gains 2%
Share Market Today LIVE: The domestic equity market ended in positive territory on Monday, August 28; however, the gains got capped towards the end of the session amid sell-offs in heavyweights such as Reliance Industries (RIL), Nestle India, and ITC. At close, the S&P BSE Sensex stood at 64,996.60, up 110 points, or 0.17 per cent. The index hit a high of 65,213.45 during the day before retreating in the last hour of the session. On the NSE, the headline Nifty50 index settled at 19,306.05, up 40 points, or 0.21 per cent from the previous close.
Catch minute-by-minute updates on the stock market on August 28, and the views of Zee Business Managing Editor Anil Singhvi and other market experts — and much more — on Zeebiz.com's blog:
Share Market Today LIVE: The domestic equity market ended in positive territory on Monday, August 28; however, the gains got capped towards the end of the session amid sell-offs in heavyweights such as Reliance Industries (RIL), Nestle India, and ITC. At close, the S&P BSE Sensex stood at 64,996.60, up 110 points, or 0.17 per cent. The index hit a high of 65,213.45 during the day before retreating in the last hour of the session. On the NSE, the headline Nifty50 index settled at 19,306.05, up 40 points, or 0.21 per cent from the previous close.
Catch minute-by-minute updates on the stock market on August 28, and the views of Zee Business Managing Editor Anil Singhvi and other market experts — and much more — on Zeebiz.com's blog:
Latest Updates
Share Market Today LIVE | S&P 500 finishes higher as jobs data fuels rate-hike optimism
The S&P 500 closed higher on Friday ahead of a long weekend after an increase in unemployment triggered expectations of a pause in interest rate hikes this month, whereas shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. The Labor Department's report showed the August unemployment rate rose to 3.8 per cent while wage growth slowed. Nonfarm payrolls rose more than expected, though data for July was revised lower to 157,000 job additions.
The S&P 500 gained 0.18 percent to end at 4,515.77 points. The Nasdaq declined 0.02 per cent to 14,031.82 points, and the Dow Jones Industrial Average (.DJI) rose 0.33 per cent to 34,837.71 points.
SENSEX AT CLOSE
MARKET AT CLOSE: Sensex ends at 64,996.60, up 110 points, or 0.17 per cent and the NSE's Nifty settles at 19,306.05, up 40.25 points, or 0.21 per cent
MARKET UPDATE: RIL, Jio Financial Services see sharp fall amid ongoing 46th AGM
Cement sector Q1 review: What lies ahead after a mixed performance in Q1? Check top stocks to bet on
The cement sector reported mixed results for the quarter ended June 30, 2023 (Q1 FY24). According to a report by Sharekhan, the cement companies' revenue during the quarter grew 15.8 per cent year-on-year (YoY), with a dip of 6.3 per cent YoY in weighted average EBITDA/tonne. The net profit increased marginally by 4.6 per cent YoY, while blended realisations declined by 2.5 per cent YoY, as estimated. READ MORE
Vedanta shares rise after mining giant wins big in arbitration against government
Mining major Vedanta’s shares were in demand on Monday, halting a two-day losing streak, after the company—led by billionaire Anil Agarwal—won an arbitration against a demand by the government for a higher payout from its Rajasthan oil and gas fields. Vedanta shares gained by as much as Rs 6.7, or 2.8 per cent, to Rs 240 apiece in intraday trade on BSE. READ MORE
MARKET UPDATE | Leading gainers on the BSE
RailTel shares hit 52-week high as it targets big orders from Railways for anti-collision tech
Shares of the state-run RailTel Corporation of India Ltd. hit a 52-week high of Rs 183.95 apiece on Monday (August 28, 2023) after the company's chairman and managing director, Sanjai Kumar, said in an investor call on Friday (August 25) that the company was eyeing Rs 4,000–5,000 crore worth of orders related to LTE and Kavach from the railway ministry. READ MORE
MARKET UPDATE | Indices extend gains; Sensex up nearly 250 points
Reliance AGM 2023: RIL shares trade flat, Jio Financial Services up over 2.5% ahead of 46th AGM
Shares of Reliance Industries (RIL) were trading flat at Rs 2,471.85, up 0.08 per cent in the noon trade on Monday, August 28, 2023, ahead of its 46th annual general meeting (AGM), which is slated to start around 2 PM today. Jio Financial Services, on the other hand, was trading 2.71 per cent higher at Rs 218 on the BSE. READ MORE
STOCK IN NEWS: BEML shares jump as analysts give a thumbs-up to PSU's robust order book
Bharat Earth Movers Ltd (BEML) shares rose on Monday after the state-run company won an order worth $19.71 million (Rs 161.6 crore at $1 = Rs 82) from Russia's KAMSS, a mining and transport equipment company. BEML shares gained by as much as Rs 68, or 3.2 per cent, to Rs 2,102.1 apiece on BSE within the first few minutes of trade, coming within Rs 39 of a 52-week high scaled last week. BEML Land Assets share rose by Rs 3.1, or 1.7 per cent, to Rs 181.2 apiece at the strongest level of the day. READ MORE
EXPERT TAKE: Pre-RIL AGM by Prashanth Tapse, Research Analyst Sr VP Research, Mehta Equities Ltd
"All eyes would be on the RIL AGM and its announcement, focusing on Jio Financial's future outlook post-demerger and other high hopes on Future Retail IPO, Reliance Jio IPO, and the company's succession plans in the future. RIL has a lot of plans on cards for value unlocking, which started with Jio Financials, but initial reactions post-listing were not as high as street expectations. I believe Mukesh Ambani will be focusing more on the Jio Financial plan of action in the coming days, which will pave the road clear for further value unlocking of retail and Jio telecom ventures. Technically, Reliance is in a short-buildup trend, so any close above Rs 2,500 can be a turning point for the stock, and AGM highlights will be highly watched. We are neutral, and investors should wait and watch for the AGM outcome before taking any action in RIL and Jio Financial."
MARKET UPDATE: Sensex trades over 160 points higher, Nifty above 19,300 levels
BUZZING STOCK: RailTel Corporation jumps more than 8%
