Share Market HIGHLIGHTS: Sensex ends 542 pts lower, extends losses to 3rd straight day; Nifty cracks below 19,400; Titan, ONGC, Bajaj Finserv, ICICI Bank drop 2%

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Share Market HIGHLIGHTS | Sensex ends 542 pts lower, extends losses to 3rd straight day; Nifty cracks below 19,400

Nifty 50

Nifty finishes below 19,400, down by 0.74 per cent on Thursday.

Source: NSE

Sensex

Sensex ends 542 points lower at 65,240.68, extending losses to 3rd straight day on Thursday.

Source: BSE

Share Market HIGHLIGHTS | Titan, ONGC, Bajaj Finserv among top losers in the Nifty basket

Titan, ONGC, Bajaj Finserv and ICICI Bank are among the top losers in the Nifty basket, down around 2 per cent. On the other hand, Adani Enterprises, Adani Ports, Eicher Motors and Divi's are among the top gainers, trading with gains of around 2-1 per cent. 

Source: NSE

Share Market Today LIVE | KSB shares zoom 10% to 52-week high driven by strong Q2 results 

Pumps and valve manufacturer KSB's shares zooms on Thursday after the company reported a strong set of quarterly numbers. The KSB stock jumped by as much as over Rs 442 or 19 per cent to Rs 2,529 apiece on BSE, surpassing an earlier 52-week peak. KSB shares are up 16.12 per cent at Rs 2,673 apiece on the bourse. Read more 

Share Market Tips LIVE | Buy IKIO Lighting, Sterling Tools shares, says Vikas Sethi 

Vikas Sethi of Sethi Finmart recommends buying IKIO Lighting shares for a target of Rs 430 with a stop loss at Rs 402. Besides, he recommends buying Sterling Tools shares for a target of Rs 375 with a stop loss at Rs 350.

Share Market Today LIVE | SBFC Finance IPO hits Street; here’s all you need to know

SBFC Finance IPO: SBFC Finance’s initial public offer (IPO), estimated to be worth Rs 1,025 crore, has opened for subscription on Thursday, August 3. SBFC Finance is a Mumbai-based non-banking financial company (NBFC) offering financing opportunities to business owners underserved by traditional banks. The IPO — comprising fresh issuance worth up to Rs 600 crore and an offer for sale (OFS) worth Rs 425 crore by promoters and existing shareholders — will be available for bidding, from 10 am to 5 pm, for three trading days till August 7.

SBFC Finance IPO subscription status

So far on the first day of the bidding process, the SBFC Finance IPO has received bids for 11.3 crore shares as against the 13.4 crore shares on offer, a subscription of 85 per cent, according to provisional exchange data. The portions reserved for non-institutional investors and retail investors are subscribed 1.4 times and 1.1 times respectively. The quota meant for qualified institutional buyers has not received any bid.

Here are some of the key details about the SBFC Finance IPO:

Issue price

Under the IPO, potential investors can bid for SBFC Finance shares in the price range of Rs 54-57 apiece in multiples of 260.

Important dates

The basis of the allotment of shares is likely to be finalised on August 10. Successful bidders will likely get shares credited into their demat accounts on August 14 and other participants will have refunds initiated on August 10. Read more 

Share Market Today LIVE | MRF reports five-fold jump in June quarter net profit to Rs 581 crore; shares rise

Tyre manufacturer MRF on Thursday reports a net profit of Rs 581 crore for the quarter ended June 2023, marking an increase of more than five times from a net profit of Rs 112 crore for the corresponding period a year ago.  The company's revenue grows to Rs 6,323 crore for the April-June period as against Rs 5,599 crore for the year-ago period, according to a regulatory filing. MRF shares rise as much as over two per cent after the announcement on NSE. Read more 

Image: Official website/ Representational image 

Share Market Today LIVE | Sun Pharma hits 52-week high

Sun Pharma shares gain by as much as nearly 3 per cent to clock a 52-week high of Rs 1,169.90 apiece, surpassing an earlier peak of Rs 1,155 touched on July 23, 2023, on NSE.

Stocks to Buy | Divi's, IndiGo, GAIL, Marico, IDFC among analysts' top picks

In conversation with Zee Business Managing Editor Anil Singhvi, market experts Vikas Sethi, Himanshu Gupta, Sumeet Bagadia, Rakesh Bansal and Kunal Saraogi 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 Divi's Laboratories, GAIL, Marico, IndiGo and IDFC. Read more 

Share Market Today LIVE | Titan shares slip 3% on soft Q1 numbers; is it a buying opportunity? 

Shares of Titan Company slips as much as 3.15 per cent to Rs 2,884.55 apiece on the BSE on Thursday, a day after the company reported muted numbers for the June 2023 quarter. Its EBIT margin saw a decline of 226 basis points to 10.7 per cent. Its net profit, or profit after tax (PAT), on a standalone basis, came in at Rs 777 crore, down 2 per cent while its total income grew 19 per cent YoY to Rs 10,306 crore. Read more

Dividend Stocks | Maruti Suzuki, Alembic Pharma, United Breweries, Aegis Logistics, Granules among 16 shares to trade ex-date today

A total of 16 stocks will trade ex-dividend on Thursday, August 3, according to the NSE website. The list includes Maruti Suzuki, Alembic Pharma, United Breweries, Aegis Logistics, Granules, and other stocks. 

Maruti Suzuki dividend 2023

Maruti Suzuki India has announced a dividend of Rs 90 per equity share with a face value of Rs 5.

Granules dividend 2023 record date

Granules India has announced a dividend of Rs 1.5 per equity share with a face value of Re 1. The record date is also August 3.

Aegis Logistics dividend record date

Aegis Logistics has announced an interim dividend of Rs 2.5 per equity share with a face value of Re 1. The record date is also August 3.

Usha Martin dividend 2023 record date

Usha Martin has announced a dividend of Rs 2.5 per equity share with a face value of Re 1. The record date is also August 3. Read more 

Share Market Today LIVE | Vedanta shares plunge over 8% after promoters sell 4.3% stake via block deal

Shares of mining major Vedanta (VEDL) come under heavy selling pressure in the early trade on Thursday after billionaire Anil Agarwal-led mining major's promoters sold a 4.3 per cent stake through a block deal, as per reports. Promoter Twin Star Holdings sold 16 crore shares and reduced its stake in the company from 46.4 per cent earlier to 42.1 per cent. The deal was at a 5 per cent discount from the current market price. The counter trades 8.36 per cent lower at Rs 249.4 apiece on the NSE. Read more

Source: NSE

Share Market Today LIVE: Sensex drops over 200 pts, Nifty holds 19,450

Nifty 50

Nifty trades near 19,450 in early morning deals. 

Source: NSE

Sensex

Sensex drops over 200 points in early morning deals. 

Source: BSE

Anil Singhvi Market Strategy | Important levels to track in Nifty, Nifty Bank today

Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 19,385-19,425 levels and a strong buy zone at 19,300-19,350 levels on Thursday, August 3. For the Nifty Bank, he expects support at 44,625-44,725 levels and a strong buy zone at 44,325-44,450 levels.

Read more on how Anil Singhvi views the Indian share market today and what he recommends

Share Market Today LIVE | Morgan Stanley upgrades India to Overweight 

Morgan Stanley has raised India’s rating to overweight, saying relative valuations are 'less extreme' than in October, and the nation’s reform and macro-stability agenda supports a strong capex and profit outlook, according to a report by Zee Business.

"India is arguably at the start of a long-wave boom at the same time as China may be ending one," strategists at Morgan Stanley wrote in their latest research note. Meanwhile, the global brokerage has downgraded China and Taiwan to equal weight. Read more