Share Market HIGHLIGHTS: Nifty slides below 19,400, Sensex ends 661 pts off days high; JFS, RIL, Divis among top losers
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex ended in the red on Thursday, August 24, snapping a three-day winning streak amid selling in auto, financial services, pharma, metals, and oil & gas stocks. Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex ended in the red on Thursday, August 24, snapping a three-day winning streak amid selling in auto, financial services, pharma, metals, and oil & gas stocks. S&P BSE Sensex ended down 0.28 per cent or 180.96 points, at 65,252.34, whereas NSE Nifty finished down 0.29 per cent or 57.3 points, at 19,386.7. In addition, Nifty Bank closed flat but in green at 44,496.2.
In the broader market, the Nifty Mid Cap 100 was up 0.24 per cent, on the other hand, the Small Cap 100 was down 0.35 per cent. Besides, market participants awaited the Reserve Bank of India's (RBI) August policy minutes meeting.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
Latest Updates
Share Market HIGHLIGHTS | JFS, RIL, Divi's among the top losers in Nifty basket
JFS, RIL, Divi's and PowerGrid are among the top losers in the Nifty basket, down around 5-1 per cent. On the other hand, BPCL, Asian Paints, IndusInd Bank and Infy are among the top gainers, up around 2-1 per cent.
Source: NSE
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Share Market HIGHLIGHTS | Nifty slides below 19,400, Sensex ends 182 pts lower
Nifty 50
Nifty ends at 19,386.7, down 0.29 per cent.
Source: NSESensex
Sensex ends 180.96 points lower at 65,252.34.
Source: BSE
Share Market Today LIVE | Torrent Pharma gains after receiving USFDA establishment inspection report for its Dahej facility
Shares of Torrent Pharmaceuticals Limited gain as much as 2 per cent after the company announced that it has received an Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) for its manufacturing facility located in Dahej, Gujarat. Read more
Share Market Today LIVE | Nifty near 19,400, Sensex off day's high amid weakness in energy & metal stocks
Nifty 50
Source: NSESensex
Source: BSE
Nifty Today LIVE | RIL, HDFC Bank, JFS among top drags in Nifty basket
RIL, HDFC Bank, JFS and L&T are the top drags in the Nifty basket at this hour. On the contrary, Infy, ICICI Bank, Asian Paints and IndusInd Bank are among the top movers.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | BEL, Dr Reddy's, HAL, Paytm hit 52-week highs
As many as 53 stocks in the BSE 500 basket — the broadest index on the bourse — reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) 3MINDIA 30,499.00 30,627.55 30,444.00 (23 Aug 2023) 30,975.00 (01 Apr 2021) AIAENG 3,633.50 3,675.50 3,664.75 (14 Aug 2023) 3,675.50 (24 Aug 2023) AMBER 2,835.00 2,986.05 2,985.00 (18 Aug 2023) 4,023.65 (02 May 2022) APLAPOLLO 1,658.85 1,663.05 1,637.45 (16 Aug 2023) 3,945.00 (08 Dec 2020) ASTRAZEN 4,200.05 4,283.35 4,254.65 (14 Aug 2023) 4,970.00 (08 Sep 2020) AXISBANK 984.45 994.55 989.90 (30 Jun 2023) 2,042.95 (23 Jul 2014) BEL 134.55 135.55 135.40 (23 Aug 2023) 4,160.00 (04 Aug 2015) BHARATFORG 1,041.00 1,052.00 1,043.70 (23 Aug 2023) 1,669.70 (27 Jun 2005) BSOFT 476.7 479 473.25 (17 Aug 2023) 740.00 (02 Jan 2007) CERA 8,804.30 8,999.95 8,894.35 (23 Aug 2023) 8,999.95 (24 Aug 2023) CHEMPLASTS 509 514.95 500.65 (12 Jun 2023) 826.35 (11 Oct 2021) COROMANDEL 1,110.70 1,115.40 1,094.85 (11 Aug 2023) 1,115.40 (24 Aug 2023) DRREDDY 5,931.15 5,986.20 5,979.65 (18 Aug 2023) 5,986.20 (24 Aug 2023) ENGINERSIN 160.5 166.55 165.85 (23 Aug 2023) 2,599.00 (25 Mar 2010) ESCORTS 2,970.05 2,997.20 2,956.15 (22 Aug 2023) 2,997.20 (24 Aug 2023) FEDERALBNK 140.6 143.6 143.35 (16 Jan 2023) 550.75 (02 Jan 2013) FINOLEXIND 218.05 219.4 217.70 (23 Aug 2023) 752.80 (23 Oct 2017) FSL 157.55 161.75 159.10 (23 Aug 2023) 242.65 (19 Jul 2021) GICRE 219.35 224.4 222.70 (22 Aug 2023) 895.00 (25 Oct 2017) GMRINFRA 65.3 66.5 60.20 (23 Aug 2023) 1,005.00 (13 Jul 2007) GODREJIND 541.85 557.5 542.80 (23 Aug 2023) 908.90 (18 May 2006) HAL 3,992.05 4,138.80 4,050.00 (23 Aug 2023) 4,138.80 (24 Aug 2023) HUDCO 73.41 76.46 75.60 (23 Aug 2023) 102.35 (14 Jul 2017) IDFC 122.95 126.45 125.25 (23 Aug 2023) 235.00 (03 Jan 2008) INGERRAND 3,272.50 3,325.60 3,324.95 (23 Aug 2023) 3,325.60 (24 Aug 2023) IRCON 110.86 114.4 113.59 (22 Aug 2023) 598.80 (19 Feb 2020) JSL 429 437.7 432.40 (23 Aug 2023) 569.85 (15 Jan 2004) JUBLPHARMA 454.9 474.55 470.00 (11 Aug 2023) 1,345.00 (11 Mar 2004) LEMONTREE 110.38 111.1 110.80 (23 Aug 2023) 111.10 (24 Aug 2023) LT 2,688.90 2,767.00 2,725.75 (23 Aug 2023) 4,670.00 (01 Nov 2007) LTTS 4,400.00 4,427.20 4,405.00 (23 Aug 2023) 5,958.10 (04 Jan 2022) MAHABANK 39.65 40.4 40.10 (23 Aug 2023) 96.50 (07 Jan 2008) MAHSCOOTER 6,223.30 6,274.00 6,098.95 (23 Aug 2023) 6,274.00 (24 Aug 2023) MAPMYINDIA 1,740.20 1,766.70 1,719.00 (14 Aug 2023) 1,918.35 (17 Jan 2022) MFSL 901.25 937.5 898.75 (22 Aug 2023) 1,240.00 (20 Feb 2007) MHRIL 394.3 397.35 378.70 (22 Aug 2023) 657.90 (07 Jul 2017) MIDHANI 409 426.2 416.40 (23 Aug 2023) 426.20 (24 Aug 2023) MINDACORP 317 325 323.00 (22 Aug 2023) 325.00 (24 Aug 2023) MPHASIS 2,456.90 2,471.20 2,387.45 (16 Aug 2023) 3,659.75 (19 Oct 2021) MRPL 92.9 95.16 93.93 (22 Aug 2023) 149.00 (04 Jan 2008) PAYTM 907 931 916.25 (23 Aug 2023) 1,961.05 (18 Nov 2021) POLYCAB 5,040.50 5,162.90 5,153.80 (23 Aug 2023) 5,162.90 (24 Aug 2023) RECLTD 243.15 245.85 243.30 (22 Aug 2023) 409.50 (11 Oct 2010) SHRIRAMFIN 1,881.80 1,931.30 1,899.90 (01 Aug 2023) 1,931.30 (24 Aug 2023) SHYAMMETL 474 485 479.80 (11 Aug 2023) 485.00 (24 Aug 2023) SUNTV 584 586 572.25 (23 Aug 2023) 1,849.00 (08 Feb 2007) SUPREMEIND 4,458.15 4,540.00 4,480.00 (11 Aug 2023) 4,540.00 (24 Aug 2023) SUZLON 22.38 22.86 21.93 (23 Aug 2023) 2,300.00 (09 Jan 2008) TATACOMM 1,843.75 1,858.00 1,831.95 (23 Aug 2023) 3,250.00 (11 Feb 2000) TATAPOWER 251.05 252.75 251.00 (07 Sep 2022) 3,500.00 (29 Jan 1992) TRENT 2,064.20 2,090.95 2,067.15 (23 Aug 2023) 2,442.40 (07 Sep 2016) VARROC 412.25 430.55 423.40 (23 Aug 2023) 1,177.45 (03 Sep 2018) WELSPUNIND 122.4 126.7 126.50 (23 Aug 2023) 1,007.15 (14 Mar 2016) Share Market Today LIVE | Axis Bank, L&T hit 52-week highs
Axis Bank and L&T in the S&P BSE basket reached the milestone.
Stock LTP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) AXISBANK 984.65 994.55 989.90 (30 Jun 2023) 2,042.95 (23 Jul 2014) LT 2,685.90 2,767.00 2,725.75 (23 Aug 2023) 4,670.00 (01 Nov 2007) Share Market Today LIVE: Procter and Gamble Health drops more than 5% on mixed Q4 results
The global consumer goods conglomerate Procter & Gamble (P&G) Health shares drop more than 5 percent after the company reported poor numbers for the fourth quarter ending June 2023 (Q4FY23). The quarterly earnings report showed mixed results as the company's revenue increased marginally and net profit, as well as EBITDA dropped. Read more
Share Market LIVE | Paytm hits 52-week high after Bernstein initiates coverage with 'outperform' rating
One97 Communications, the parent company of digital payments firm Paytm, shares gain as much as 3 per cent to clock a fresh 52-week high of Rs 931.95 apiece on NSE, surpassing an earlier peak of Rs 916.15 touched on Wednesday, August 23, after Bernstein initiated coverage on the counter. The global research and broking firm initiated an outperform rating on Paytm with a target price of Rs 1,100, an upside of 21 per cent from Wednesday's close of Rs 904.75 on NSE. Read more
Share Market LIVE | Paytm hits 52-week high after Bernstein initiates coverage with 'outperform' rating
One97 Communications, the parent company of digital payments firm Paytm, shares gain as much as 3 per cent to clock a fresh 52-week high of Rs 931.95 apiece on NSE, surpassing an earlier peak of Rs 916.15 touched on Wednesday, August 23, after Bernstein initiated coverage on the counter. The global research and broking firm initiated an outperform rating on Paytm with a target price of Rs 1,100, an upside of 21 per cent from Wednesday's close of Rs 904.75 on NSE. Read more
Share Market LIVE | Paytm hits 52-week high after Bernstein initiates coverage with 'outperform' rating
One97 Communications, the parent company of digital payments firm Paytm, shares gain as much as 3 per cent to clock a fresh 52-week high of Rs 931.95 apiece on NSE, surpassing an earlier peak of Rs 916.15 touched on Wednesday, August 23, after Bernstein initiated coverage on the counter. The global research and broking firm initiated an outperform rating on Paytm with a target price of Rs 1,100, an upside of 21 per cent from Wednesday's close of Rs 904.75 on NSE. Read more
Share Market Today LIVE | Coforge shares zoom as promoter offloads 25% stake in block deal
Coforge shares registered sharp gains on Thursday amid reports about a likely block in the IT services company. The Coforge stock gained by as much as Rs 268.2, or 5.5 per cent, to Rs 5,179.8 apiece on BSE, coming within Rs 240 of a 52-week high scaled last week. Zee Business reported that Coforge's promoter, Hulst BV, sold 1.5 crore shares (equivalent to a 25 per cent stake) out of its 26.6 per cent holding in the IT services firm. The transaction was estimated to be worth Rs 6,961.5 crore. Read more
Share Market Today LIVE | HAL, L&T, Paras Defence hit 52-week highs amid Chandrayaan-3 euphoria on Street
The euphoria surrounding India's historic moon landing on the south pole of the moon on Wednesday has yet to settle down, and defence and aerospace stocks are seemingly cashing in on the upbeat mood in the market on Thursday morning. Stocks like HAL, BHEL, L&T, Paras Defense, Centum Electronics, and Mishra Dhatu Nigam Ltd continued their run for the second day in succession as all of them hit a 52-week high in early trading hours on Thursday.
Here's how defence and aerospace stocks started their day on the BSE:
Larsen & Toubro (L&T)
L&T hit a 52-week high of Rs 2,767 in early trading on Thursday after the company announced that its power transmission and distribution business had secured new orders in the Middle East. The company said that it has received an order to establish a 220kV Gas Insulated Substation and associated Transmission Lines in the United Arab Emirates. It has also received orders to establish two new 132 kV substations from a public services infrastructure company in Dubai and to build a 220 kV overhead transmission line, the company said in its BSE filing. It has also gotten an order in Kuwait for the turnkey construction of 4 new 132 kV substations in the Al Sabah Medical District.
Paras Defence
Paras Defence and Space Technologies raced to a 52-week high of Rs 841.80 in early trading hours on Thursday. The share closed at Rs 717.60 on Wednesday, while it opened at Rs 804.95 on Thursday before touching a 52-week high. The company has contributed to the Chandrayaan-3 mission. Read more
Source: ISRO Stocks to Buy | L&T, Maruti Suzuki, MTAR Tech among analysts' top picks today
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Sumeet Bagadia, Rakesh Bansal, Kunal Saraogi, Sumeet Bagadia, Vikas Sethi and Sandeep Wagle share their top recommendations for the day in this special segment, Pick of the Day. On the top analysts' 'buy' list are stocks such as Maruti Suzuki, Federal Bank, L&T, MTAR Tech and Godrej Properties. Read more
Share Market Today LIVE | Vishnu Prakash R Punglia IPO hits Street; should you apply for it?
Vishnu Prakash R Punglia, a Jodhpur-based engineering, procurement and construction (EPC) company, launched an initial public offer (IPO) on Thursday, August 24. The IPO comprises fresh issuance of shares worth up to Rs 309 crore.
Here are some of the key things to know about the Vishnu Prakash R Punglia IPO:
Important dates:
The IPO, the bidding process for which begins on Thursday, will close on Monday, August 28. The basis of the allotment of shares is likely to take place on August 31. Winning bidders are likely to get the shares credited to their accounts on September 4. Vishnu Prakash R Punglia shares will be listed, on stock exchanges BSE and NSE, tentatively on September 5.
VPRPL IPO review: Should you subscribe to the Vishnu Prakash R Punglia IPO?
Zee Business Managing Editor Anil Singhvi recommends applying for the issue for "big listing gains". Here is a list of key points about the company highlighted by him:
Positives:
- Experienced promoters
- Impressive growth record
- Strong growth outlook with a healthy order book
- Reasonable valuation leaves scope for good listing gains. Read more
Share Market Tips | Buy Kajaria Ceramics shares, says Siddharth Sedani
Siddharth Sedani of Anand Rathi Securities has a positional 'buy' call on Kajaria Ceramics with a target price of Rs 1,640 apiece.
Dividend Stocks | HAL, Railtel, HEG among 9 shares trade ex-date today
A total of nine stocks traded ex-dividend on Thursday, August 24, according to the NSE website. The list includes Hindustan Aeronautics, HEG, Railtel Corporation Of India, and other stocks.
HEG dividend
HEG has announced a dividend of Rs 42.5 per equity share with a face value of Rs 10.
AGI Greenpac dividend
AGI Greenpac has announced a dividend of Rs 5 per equity share with a face value of Rs 2.
Railtel Corporation Of India dividend
Railtel Corporation Of India has announced a dividend of Rs 1.05 per equity share with a face value of Rs 10. The record date is also August 24.
Satia Industries dividend
Satia Industries has announced an interim dividend of Re 1 per equity share with a face value of Re 1. The record date is also August 24.
Rajshree Polypack dividend
Rajshree Polypack has announced a dividend of Re 0.5 per equity share with a face value of Rs 10. The record date is also August 24. Read more
Currency Update | Rupee surges 25 paise to 82.47 against US dollar
The rupee registers the highest single-day gain in nearly two months and surges by 25 paise to 82.47 against the US dollar amid a weakening dollar, foreign funds inflows and positive equity markets.
Share Market Today LIVE | HAL shares trade ex-dividend; stock clocks a fresh 52-week high
Hindustan Aeronautics Limited (HAL) shares gain as much as 2.5 per cent to clock a 52-week high of Rs 4,135 apiece, surpassing an earlier peak of Rs 4,049.9 touched on Wednesday, August 23. The stock traded ex-dividend on Thursday, a day after the successful landing of the lander module of ISRO’s third lunar mission, the Chandrayaan 3, on the Moon. HAL contributed to the construction of Chandrayaan-3. The public sector aerospace and defence company announced a final dividend of Rs 15 per share of the face value of Rs 10 apiece, meaning a 150 per cent payout for the financial year 2022-23. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees a strong buy zone in the headline Nifty index at 19,365-19,425 levels on Thursday, August 24. For the Nifty Bank, he expects a strong buy zone at 44,000-44,200 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Traders' Diary | Buy, sell or hold strategy on SBI Card, Paytm, Sun Pharma, Bajaj Auto, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Thursday, August 24. Check out which stocks are on analysts Kushal Gupta and Varun Dubey's radar, and what they recommend in cash and derivative segments.
Here's the complete list of investment and trading ideas for the day:
Kushal Gupta
- Buy CCL Products shares in the cash segment for a price target of Rs 630 with a stop loss at Rs 600
- Buy Axis Bank futures for a target of Rs 1,010 with a stop loss at Rs 965
- Buy the Rs 86 call option of SAIL at Re 1.3 for a target of Rs 3 with a stop loss at Re 0.5
- Technical pick: Buy Piramal Enterprises shares for a target of Rs 1,090 with a stop loss at Rs 1,045
- Fundamental pick: Buy Bajaj Auto shares for a one-year target of Rs 5,400
- Investment idea: Buy UTI AMC shares for a one-year target of Rs 900. Read more
Share Market Today LIVE | Nifty near 19,550, Sensex up 300 pts amid broad-based buying
Nifty 50
Nifty trades near 19,550, up 0.44 per cent in opening deals.
Source: NSESensex
Sensex trades over 250 pts higher in opening deals at 65,699.45.
Source: BSE
Pre-Open Market EXPERT VIEW | Comment by Prashanth Tapse, Research Analyst, Senior VP Research, Mehta Equities Ltd
“Markets may open slightly higher amid positive global cues, but intermittent bouts of intra-day volatility could continue as has been in the past few weeks. The upside is likely to be capped as risk aversion is likely to be the preferred theme owing to spiking multi-year high US Treasury bond yields, fears emanating from the US banking sector, growing anxiety about China’s economy, and S&P downgrading some US banks due to a challenging economic environment. Investors will now look ahead to Federal Reserve Chair Jerome Powell’s address at the Central Bank annual symposium at Jackson Hole, Wyoming on Friday for further clues on the rates path. For Nifty, the support is seen at the 19237 mark, while any upsurge will be seen only above the 19757 mark. Intraday hurdles for the index is at 19537 mark.”
Stocks to Watch | Aerospace & defence stocks, Coal India, Coforge, Procter & Gamble Health, and RIL among top stocks to track today
ZeeBiz takes you through some of the stocks that can be in the limelight on Thursday, (August 24, 2023).
Coforge
A block deal of 1.63 crore shares is likely today. Promoter Hulst BV (Baring Private Equity Asia) may sell the entire 26.63 per cent stake in the company at a floor price for the block deal of Rs 4550 a share 7.4 per cent discount to the current market price.
Aerospace, defence stocks
Shares of companies related to the aerospace and defence sectors were in the limelight on Wednesday and some of them also touched a 52-week high. Centum Electronics, Paras Defence and Space Technologies Ltd, MTAR Technologies and Hindustan Aeronautics Ltd soared higher on the BSE. HAL also touched a 52-week high on Thursday. Shares of L & T Bharat Forge, Astra Microwave Products, Larsen & Toubro also closed on a high note.
Procter & Gamble Health
The health company is all set to announce its first-quarter results on Wednesday and will be in focus a day later.
Coal India
Coal India Limited (CIL) Chairman and Managing Director PM Prasad stated on Wednesday that there is sufficient coal stock available in the country and the company is prepared to address any sudden increase in demand. He also informed shareholders in the AGM on Wednesday that CIL is ready to list its subsidiaries, Bharat Coking Coal Ltd. (BCCL), Coal Mine Planning and Design Institute of India Ltd (CMPDI). Read more
Share Market Today LIVE | GIFT Nifty futures indicate a positive start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 83.6 points or 0.43 per cent at 19,515.5 ahead of the opening bell on Dalal Street.
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