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 Tuesdays (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 NSEs 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. Catch minute-by-minute updates on the stock market, and the views of Zee Business Managing Editor Anil Singhvi and other market experts on Zeebiz.coms 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:
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Sensex ends volatile session 79 pts higher, Nifty ends at 19,343; realty stocks shine
The BSE Sensex ended the volatile session on Tuesday (August 29, 2023) 79 points higher, while the Nifty 50 ended at 19,343, on a day when realty stocks shined.
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
Leading gainers on the BSE
NBCC gets Rs 66 crore order from Indian Medical Association
State-owned construction firm NBCC has received a Rs 66 crore order from the Indian Medical Association to plan and execute IMA House in the national capital. NBCC's stock is trading flat at Rs 50.85.
MARKET UPDATE: Indices turn volatile again, Sensex in the red
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.
Nifty holds 19,000 in volatile market, realty stocks move higher
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Sensex holds 65,000 in a volatile market, realty stocks move higher
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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.
Pyramid Technoplast makes strong debut on D-Street
Pyramid Technoplast shares made a strong debut in the secondary market on Tuesday. Trading with the symbol PYRAMID, Pyramid Technoplast debuted at Rs 185 on BSE, translating to a premium of Rs 19, or 11.4 per cent, over the upper end of the price band of its IPO, which concluded last week with an overall subscription of 18 times the equity on offer.
52-week high: Gokaldas Exports share hits a 52-week high
Shares of Bangalore-based company Gokaldas Exports hit a 52-week high of Rs 736.30 after it entered into a $55 million deal to acquire Atraco Group (Atraco), a leading manufacturer of apparel with a strong market position and customer relationships across the US and Europe.
Sensex in opening deals
Opening Bell: Indices open in the green; Sensex up over 170 points, Nifty trades above 19,350 levels
Traders' Diary: Buy, sell or hold strategy on IRCTC, Zomato, Tata Chemicals, LTIMindtree, Nestle, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on more than a dozen stocks that investors and traders can track on Tuesday, August 29. Check out which stocks are on analysts Kushal Gupta and Arman Nahar's radar, and what they recommend in cash and derivative segments. CLICK HERE TO READ MORE
Anil Singhvi strategy for August 29: Important levels to track in Nifty, Nifty Bank today
Singhvi suggests adopting a 'buy on dips' strategy as long as the Nifty stays above 19,200 on a closing basis. He sees support for the market coming in on the monthly derivatives expiry day (due on August 31) following five weeks of declines. READ MORE
Stocks to watch: Avenue Supermart, Zomato, Jet Airways, Apollo Hospitals, Gokaldas Exports, LT Foods, RIL
At around 8:05 am on Tuesday, August 29, the GIFT Nifty futures traded 23.95 points higher, or 0.12 per cent at 19,338.5, suggesting a flat to positive opening of the market. ZeeBiz takes you through a list of stocks that can be in the limelight on Tuesday, August 28, 2023. READ MORE
Crude oil steady as supply concerns offset worries over demand
Crude oil rates were flat on Tuesday as worries that further possible US interest rate hikes could pull down demand were countered by concerns a tropical storm off the US Gulf Coast could impact supply. Brent crude was down by two cents at $84.4 a barrel at the last count, while US West Texas Intermediate crude was down by there cents at $80.1 per barrel.
Investors await key US economic data later this week that will help determine the path of interest rates this year and next. Fed Chair Jerome Powell on Friday said the US central bank may need to raise rates further to cool stubborn inflation.
Dow Jones, S&P 500, Nasdaq Composite rise as investors await US inflation, jobs data
The three major US equity benchmarks—the Dow Jones, the S&P 500 and the Nasdaq Composite—rose on Monday as investors digested last Friday's comments from Fed Chair Jerome Powell that the US central bank may need to raise interest rates further to ensure inflation is contained. Focus now shifts to a report on the personal consumption expenditures price index, the Fed's preferred inflation gauge, to be released on Thursday, and non-farm payrolls data due on Friday.
Here's where the three gauges stood at the closing bell on Wall Street:
- S&P 500: up 0.6%
- Dow Jones: up 0.6%
- Nasdaq Composite: up 0.8%
Asian shares clock mild gains as focus shifts to key US macro data this week
Equities in major Asian markets are trading with gains this morning, with MSCI's broadest index of Asia Pacific shares outside Japan quoting 0.4 per cent higher.
Here's how some of the main indices in the region fare at this hour:
- Japan's Nikkei 225: up 0.1%
- China's Shanghai Composite: up 0.3%
- Hong Kong's Hang Seng: up 1%
- South Korea's KOSPI: up 0.3%
- Singapore's Straits Times: up 0.2%
GIFT Nifty futures indicate a flat start ahead on Dalal Street
GIFT Nifty futures, an early indicator of the headline Nifty index, are down nine points, or 0.1 per cent, at 19,344 at this hour, suggesting a muted start ahead on Dalal Street. Earlier in the day, the contract gyrated in a range of 28 points around the flatline.
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