Share Market Today HIGHLIGHTS: Sensex ends volatile session 79 pts higher, Nifty ends at 19,343; realty stocks shine
Share Market Today LIVE: The domestic equity market ended Tuesday's (August 29) volatile session higher. At close, the S&P BSE Sensex stood at 65,075.82, up 79 points, or 0.12 per cent while the NSE's Nifty ended at 19,342.65, up 37 points, or 0.19 per cent. Jio Financial Services (up 5 per cent) ended as the top gainer on the Sensex. Next on the gainers' list were Tata Steel, Tech Mahindra, and NTPC. On the flip side, Bharti Airtel (down 1.75 per cent) was the biggest loser.
In the broader market, the S&P BSE MidCap index ended 0.45 per cent higher at 31,036.97 levels, while the S&P BSE SmallCap index ended at 36,547.63, up 0.69 per cent.
Catch minute-by-minute updates on the stock market on August 29, 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 Tuesday's (August 29) volatile session higher. At close, the S&P BSE Sensex stood at 65,075.82, up 79 points, or 0.12 per cent while the NSE's Nifty ended at 19,342.65, up 37 points, or 0.19 per cent. Jio Financial Services (up 5 per cent) ended as the top gainer on the Sensex. Next on the gainers' list were Tata Steel, Tech Mahindra, and NTPC. On the flip side, Bharti Airtel (down 1.75 per cent) was the biggest loser.
In the broader market, the S&P BSE MidCap index ended 0.45 per cent higher at 31,036.97 levels, while the S&P BSE SmallCap index ended at 36,547.63, up 0.69 per cent.
Catch minute-by-minute updates on the stock market on August 29, and the views of Zee Business Managing Editor Anil Singhvi and other market experts — and much more — on Zeebiz.com's blog:
Latest Updates
Nitin Gadkari unveils prototype of world's first BS VI-Stage2 electrified flex-fuel vehicle
Minister for Road Transport & Highways Nitin Gadkari on Tuesday (August 29, 2023) unveiled a prototype of India's first electrified or hybrid flex fuel vehicle compliant with the second stage of BS-VI emission standards. The prototype was a variant of Innova HyCross developed by Toyota Kirloskar Motor.
Also Read | Nitin Gadkari unveils prototype of world's first BS VI-Stage2 electrified flex-fuel vehicle
Maruti Suzuki appoints Arnab Roy as CFO Designate
Maruti Suzuki India on Tuesday announced appointment of Arnab Roy as CFO Designate with effect from October 16, 2023. Maruti Suzuki's share is trading flat at Rs 9,606.60.
Also Read | Maruti Suzuki AGM: Auto major reveals plans to double production capacity over 8 years
Icra rating said IT services sector's revenue growth would slow down to 3% in FY24
An Icra rating said on Tuesday that the IT services sector's revenue growth would slow down to 3 per cent from 9.2 per cent in FY24. IT stocks such as TCS, Infosys, Birlasoft, HCL Tech are expected to grab the limelight after the rating report.
Maruti Suzuki India to boost production capacity to 2 million cars
Maruti Suzuki India, the country's top carmaker, said in its annual general meeting on Tuesday that it plans to add production capacity of two million cars over the next eight years. The share is trading 0.28 per cent higher at Rs 9,621.55 on BSE.
Jio Financial Services trades higher in morning deals
A day after Reliance Industries Limted chairman Mukesh Ambani announced that Jio Financial Services would etner into the insurance segment, the share of Jio Financial were trading higher by 2.48 per cent at Rs 216.90 on Tuesday (August 28, 2023).
BROKERAGE VIEW: JM Financial on Reliance Industries (RIL) | BUY | TP: Rs 2,900
We reiterate BUY (unchanged TP of Rs 2,900/share) because we believe concerns about debt are overdone. We believe RIL could still drive a robust 14–15% EPS CAGR over the next 3-5 years, with Jio’s ARPU expected to rise at 10% CAGR over FY23–28, with ARPU being on a structural uptrend given the industry structure, future investment needs, and the need to avoid a duopoly market—a giant digital leap. Further, strong growth momentum continues in the company’s retail business as RIL is driving omnichannel capabilities across segments. At CMP, the stock is trading at 18.8x (3 yr avg: 24.6x) and EV/EBITDA of 10.4x (3 yr avg: 13.6x).
SJVN shares hit a 52-week high
The share of SJVN, a state-owned power producer, jumped 4.9 per cent in the morning deals on Tuesday (August 29, 2023) to hit a 52-week high of Rs 63.80. The buying interest in the stock came after the company's subsidiary, SJVN Green Energy Limited (SGEL), bagged an order worth Rs 1,900 crore.
Zomato shares trade higher after Tiger Global offloads 1.44% stake via block deal
Shares of Zomato are trading higher by 1.69 per cent at Rs 93.89 in early morning trading on Tuesday, a day after investment firm Tiger Global announced that it was exiting the foodtech giant by selling 12.24 crore shares, or 1.44 per cent stake, via open market transactions.