Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed the trading session on a negative note on August 21. The BSE Sensex rose 101 points or 0.12% to finish the day’s trading at 80,903.64. The NSE Nifty 50 closed 84.35 points or 0.34% higher at 24,783.20. The Bank Nifty closed the day 0.13% or 68.15 points higher at 50,735. The Nifty Midcap 100 closed 225.60 points or 0.39% higher at 58,473.45.
The NSE Nifty 50 closed 0.34% higher at 24,783.20, while the BSE Sensex closed 0.12% higher at 80,903.64.
Divi’s Laboratories, Titan Company, Hindalco, HDFC Life Insurance, and SBI Life Insurance were the top gainers in the Nifty 50. Meanwhile, UltraTech Cements, HDFC Bank, Tata Steel, SBI, and ICICI Bank were the major losers in the Nifty 50 on August 21.
Shares of Jubilant Foodworks rose 5% to hit a fresh 52-week high of Rs 656.70 from its previous close of Rs 625.30. The upper band for the stock is placed at Rs 687.80.
Orient Technologies IPO opened to investors on August 21 for bidding. The company will stop the issue’s subscription on August 23. The issue got fully subscribed on the first day itself, getting bids over 4 times more than the offered shares. The retail portion received bids almost 7 times and the NII segment around 3 times.
“We expect the rupee to trade with a slight negative bias on recovery in the US Dollar and geopolitical tension in the Middle East. FII outflows may further pressure the rupee. However, mixed positive domestic equities and a rise in risk appetite in global markets may support the Rupee at lower levels. Investors may remain cautious ahead of PMI data from the US and Fed Chair Powell’s speech at the Jackson Hole Symposium over the weekend for any cues on rate cuts by the central bank. USDINR spot price is expected to trade in a range of Rs 83.70 to Rs 84.20,” said Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas.
“Gold continues to trade positively and dips utilized as buying opportunity at corrective levels, with support from a broad weakness in the U.S. dollar, and reports that China is likely to resume adding gold to its reserves. The probability of Fed’s 25 bps rate cut next month seems already priced in and the focus now remains the U.S. Fed chairman’s speech at Jackson Hole Symposium to gauge the quantum of rate cuts i.e. 25bps or 50bps,” said Pranav Mer, Vice President of EBG – Commodity & Currency Research at JM Financial Services. “On charts… trend remains positive with support at 71520/ 71400, upside resistance holds at 72300/ 72650.”
The stock of Torrent Power fell 4.3% to an intraday low of Rs 1,720 from its previous close of Rs 1,797.35. The stock touched its 52-week low of Rs 628 exactly a year ago today on August 21, 2023. The lower band for the stock is placed at Rs 1,437.90.
UltraTech Cements, Tata Steel, SBI, HDFC Bank, and ICICI Bank were the major draggers of the Sensex.
Courtesy: BSE
“Crude oil prices showed very high price volatility and extended its fall amid rising U.S. oil stocks and easing tensions in the middle-east. As per the API report released on Tuesday, crude oil inventories in the U.S. soared by 3,47,000 barrels amid slower demand. Lacklustre demand from China is also pressurizing crude oil prices. However, decline in the U.S. gasoline and distillate stocks and weakness in the dollar index could support oil prices at lower levels. We expect crude oil prices to remain volatile in today’s session,” said Rahul Kalantri, Vice President of Commodities at Mehta Equities.
Shares of Titan rose 3.1% to an intraday high of Rs 3,582 from its previous close of Rs 3,474.90. The stock touched its 52-week high of Rs 3,886.95 on January 30, 2024. The upper band for the stock is placed at Rs 3,037.55.
Shares of Hindalco rose 3.5% to an intraday high of Rs 696.60 from its previous close of Rs 672.90. The stock was among the top gainers in the Nifty 50. The stock touched its 52-week high of Rs 715.25 on June 03, 2024. The upper band for the stock is placed at Rs 740.15. Interestingly, the stock hit its 52-week low of Rs 439.90, a year ago, on August 21, 2023.
Shares of FSN E-Commerce (Nykaa) rose 16% to hit a fresh 52-week high of Rs 223.13 from its previous close of Rs 192.62.
The NSE Nifty 50 was up 0.08% at 24,718 while the BSE Sensex was down 0.06% at 80,758.
ITC, Reliance Industries, L&T, Divi’s Lab, and Bharti Airtel were the top contributors to the Nifty 50. While HDFC Bank along with ICICI Bank were dragging the index.
Courtesy: NSE
Shares of Dr Reddy’s Laboratories rose 2% to hit a 52-week high of Rs 7,107.45 from its previous close of Rs 6,965.35. The surge in stock price came after it partnered with its subsidiary Aurigene Pharmaceutical and US-based Kainomyx to develop an anti-malarial drug.
“We believe Interarch Building Products brings investors a unique opportunity to investors to invest in a leading player in the PEB segment. The company holds a strong market position, ranking 3rd in operating revenue with the 2nd largest installed capacity and commands a 6.5% market share. Interarch is well-positioned to capitalize on the expanding demand for PEBs in India. Hence, we recommend investors to “Subscribe” to Interarch Building Products for a long-term perspective. As the company is the second largest PEB player in India, we believe the market could give Interarch a premium multiple towards its leadership position; this may result in delivering healthy listing gains of over 25% on its issue price,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
Orient Technologies IPO opened today for bidding, it will continue till August 23. The company set the IPO price band in a range of Rs 195 to Rs 206 per equity share. The company will be collecting a total of Rs 214.76 crore from the investors.
The stock of Divi’s Laboratories rose 3.6% to an intraday high of Rs 4,890.90 from its previous close of Rs 4,723.15. The stock was the top gainer in the Nifty 50. It touched its 52-week high of Rs 5,024.85 on August 08, 2024. The upper band for the stock is placed at Rs 5,195.45.
Shares of Mazagon Dock Shipbuilders rose 6% to an intraday high of Rs 4,560 from its previous close of Rs 4,299.55. The stock touched its 52-week high of Rs 5,860 on July 05, 2024. The upper band for the stock is placed at Rs 5,159.45.
Shares of PNB Housing Finance rose 10.2% to an intraday high of Rs 894 from its previous close of Rs 810.90. The surge in the stock price came after General Atlantic Singapore Fund FII Pte said that it’ll sell a 5.1% equity stake in the company through a block deal, as reported by the media groups. The deal, with a floor price of Rs 775 per share, is expected to amount to approximately Rs 1,032.7 crore.
L&T, Tata Motors, Dr Reddy’s Laboratories, HDFC Life Insurance, and ITC were the top gainers in the Nifty 50. Meanwhile, Asian Paints, Bajaj Finance, ICICI Bank, Reliance Industries, and Hindalco were the major losers in the Nifty 50.
The NSE Nifty 50 opened 0.10% higher at 24,675, while the BSE Sensex opened 0.12% higher at 80,705.
Reliance Jio, a subsidiary of Reliance Industries, added 19.11 lakh subscribers in June 2024, a slight decrease compared to the 21.95 lakh subscribers added in May. As of June 2024, Reliance Jio held a market share of 40.71% in terms of wireless subscribers.
“Yesterday, the global market experienced profit booking from higher levels and closed slightly lower after eight consecutive positive sessions. The Nifty Index surpassed its resistance level of 24,700 during intraday trading. Sustaining above this level could drive the market toward an all-time high. On the downside, 24,550 will serve as immediate support. Traders holding long positions should maintain a trailing stop loss at 24,400 on a closing basis,” said Hardik Matalia, Derivative Analyst with Choice Broking.
The telecom operator added 12.52 lakh subscribers in June 2024, slightly higher than the 12.50 lakh users added in May. As of June 2024, the company’s market share stood at 33.23% in the wireless subscriber segment.
The third-largest telecom operator saw a decline of 8.60 lakh subscribers in June 2024, an improvement from the 9.24 lakh users lost in May. Despite the subscriber loss, the company’s market share in the wireless segment stood at 18.56% as of June 2024.
Exide Industries has announced an additional investment of Rs 75 crore in its subsidiary, Exide Energy Solutions, on a rights basis. This latest infusion raises the total investment in the subsidiary to Rs 2,652.24 crore. Despite the new investment, the company’s shareholding percentage in Exide Energy Solutions remains unchanged.
The US Dollar Index (DXY), which tracks the dollar’s value against a basket of six major foreign currencies, traded down by 0.49% to 101.37.
The Bombay High Court has overturned a show-cause notice issued by the GST authorities. The notice, issued by the Principal Commissioner of GST and Service Tax, Mumbai, related to a service tax demand of Rs 2,237 crore involving a former subsidiary. The company contested the notice through a Writ Petition, arguing that the tax had already been paid for transactions conducted after a demerger.
Commenting on the Technical outlook of Nifty Rupak De, Senior Technical Analyst, LKP Securities, said that The Nifty moved above 24,700 after sustaining above 24,600. The trend is likely to remain strong as long as it stays above the 24,600-24,650 range. A decisive fall below 24,600 might trigger a reversal of the current uptrend. On the higher end, the Nifty might move towards 24,840-24,860.