Sensex Today | Stock Market LIVE Updates: GIFT Nifty signals a positive start; Asian shares trade mixed

02 Sep 2024 | 01:51:14 PM IST

Synopsis

Sensex Today | Stock Market LIVE Updates: India’s blue-chip equity indices, the Nifty50 and Sensex, reached new record highs, buoyed by strong performances in financial and IT stocks after U.S. economic data alleviated growth concerns.

Sensex Today | Stock Market LIVE Updates: India’s equity indices reached new record highs on Friday, buoyed by strong performances in financial and IT stocks after U.S. economic data alleviated growth concerns. The NSE Nifty 50 climbed 0.33% to 25,235.9, while the S&P BSE Sensex advanced 0.28% to 82,365.7. Both indices rose 1.6% for the week and gained around 1% in August, marking their third consecutive weekly and monthly increase.

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Abu Dhabi’s ADNOC picks banks for three-part bond sale

ADNOC, via its subsidiary ADNOC Murban, has engaged banks for an upcoming three-part bond sale. J.P. Morgan and Morgan Stanley will lead investor meetings starting September 2nd. BofA Securities, Citi, and First Abu Dhabi Bank are active bookrunners, while Abu Dhabi Commercial Bank, HSBC, Mizuho, and SMBC Nikko are passive bookrunners.

Sensex Today|Stock Market LIVE Updates |Premier Energies GMP soars a day ahead of listing

Premier Energies shares will debut on Tuesday, with a strong grey market premium of Rs 485. Expected to list at over 100% premium, the IPO was 74 times subscribed, driven by non-institutional investors. Proceeds will fund a new solar manufacturing facility and general purposes.

Sensex Today | Stock Market LIVE Updates | Paytm slips in trade

Price as on 01.31.24 PM, Click on company names for their live prices.

Stock Market LIVE Updates | HPCL, BPCL shares at 52-week high as brent slips below $77/bbl

Price as on 01.24.23 PM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Brent slips 0.7%, to $76.37/bbl

Oil prices continued to decline on Monday due to anticipated increases in OPEC+ production starting in October and growing concerns about future consumption growth amid signs of weak demand in China and the U.S., the world’s two largest oil consumers. By 0646 GMT, Brent crude futures had dropped 56 cents, or 0.7%, to $76.37 a barrel, while U.S. West Texas Intermediate crude had decreased by 45 cents, or 0.6%, to $73.10 a barrel.

Sensex Today | Stock Market LIVE Updates | August auto sales impact

Top gainers from the segment at this hour:

Price as on 01.08.43 PM, Click on company names for their live prices.

Stock Market LIVE Updates | Final Goal: Capital formation, and wealth creation happens in low cost, says Madhabi Puri Buch

Stock Market LIVE Updates | Power consumption is another metric for growth: Sebi chief

Sensex Today | Stock Market LIVE Updates |Identical Brains Studios files DRHP with NSE Emerge

The IPO includes a fresh issue of up to 36.94 lakh equity shares with a face value of Rs 10.
The offering will be conducted via a book-building process.
Socradamus Capital Private Limited is the sole book-running lead manager.
Bigshare Services Private Limited is the registrar to the offer.

Stock Market LIVE Updates | Sebi chief: Today if i speak anything about REIT, I’m accused of conflict of interest

Target IPO summaries in 15 languages for financial inclusion.

Stock Market LIVE Updates | L&T creates separate business vertical for renewable EPC: Report

Price as on 12.37.49 PM, Click on company names for their live prices.

Stock Market LIVE Updates | Sebi Chief: Single filing with exchanges will be a reality very soon

There are regulations simplifying REITS.

Sensex Today | Stock Market LIVE Updates | Baazar Style Retail IPO sails through on Day 2

By 12:02 pm, the issue received bids for 3,39,50,226 shares, 2.26 times the 1,50,30,116 shares on offer.
Retail investor quota was subscribed 2.21 times, NII category 4.35 times, and QIB allocation was 70% subscribed.

Stock Market LIVE Updates | Emkay raises Nifty target to 26,000 and adds 7 new stocks to model portfolio

Emkay has raised the Nifty target to 26,000 for September 2025, up from 22,000 for June 2025, with a target PER of 22x.
The broader market is expected to be range-bound with rapid sector rotation.
Seven new stocks have been added to the model portfolio: Varun Beverages, ONGC, Larsen & Toubro, Ambuja Cements, HCL Tech, Delhivery, and ITC.
Five stocks have been removed from the model portfolio: Maruti Suzuki, Shree Cement, Wipro, Nestlé, and ICICI Prudential Life.

Sensex Today | Stock Market LIVE Updates | Varun Beverages sets record date for 2:5 stock split

Varun Beverages, PepsiCo’s bottling franchise partner, announced that September 12 will be the record date for its 2:5 stock split. Following the announcement, the company’s shares rose 2% to a high of Rs 1,533.50.

Price as on 12.14.59 PM, Click on company names for their live prices.

Sensex Today | Railtel, NHPC, SJVN shares surge up to 5% on bagging Navratna status

The companies disclosed this update in their Friday filings to the stock exchanges after market hours.
Navratna status is awarded to top PSUs with strong financial and operational performance.
These companies can now make large investments up to Rs 1,000 crore without Central Government approval.

Price as on 12.09.37 PM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Bajaj twins rally up to 4% ahead of Bajaj Housing IPO

The increase followed the announcement of Bajaj Housing Finance’s upcoming IPO, aiming to raise about Rs 6,560 crore.
The IPO will be open for subscription from September 9 to 11.
According to the RHP, the public offer includes Rs 3,560 crore from a fresh equity sale and Rs 3,000 crore from an OFS by its parent companies, Bajaj Finance and Bajaj Finserv.

Sensex Today | NBCC shares up 3% after announcing record date for bonus issue

Shares of NBCC (India) surged 3% to a high of Rs 192 on BSE today after the company announced a 1:2 bonus issue on Saturday, with October 7 set as the record date for shareholder eligibility.

Price as on 11.42.49 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | This Vijay Kedia-backed smallcap stock surges 13% in 2 days after signing MoU with RVNL

Shares of Patel Engineering, a stock in Vijay Kedia’s portfolio, jumped 13% in just two days, reaching a high of Rs 60.71 on the BSE today. This surge followed the company’s announcement on Thursday that it had signed a Memorandum of Understanding (MoU) with RVNL to collaborate on hydroelectric and other infrastructure projects.

Sensex Today | Stock Market LIVE Updates | Mahindra Auto sales up 9% in August at 76,755 units

Price as on 11.29.29 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | TVS Motor Company’s sales grow by 13% in August 2024

Price as on 11.24.19 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Gala Precision Engineering IPO oversubscribed on day 1 of bidding process

Gala Precision Engineering IPO, which opened today, was oversubscribed on its first day, with total subscriptions 1.5 times within 2 hours.
Retail and non-institutional investors subscribed 2.5 and 2 times, while the employee category was oversubscribed 11 times; QIBs’ portion remains unsubscribed.

Sensex Today | Stock Market LIVE Updates | Aartech Solonics Ltd awarded performance certificate from Indian army

Price as on 11.00.56 AM, Click on company names for their live prices.

Sensex Today | Zerodha recorded a profit from its BSE investments and added Radico Khaitan to its portfolio in Q1

In Q1 2024, Zerodha, led by Nithin and Nikhil Kamath, booked profits on BSE and added Radico Khaitan to its portfolio, reducing its BSE stake despite its significant recent gains.

Sensex Today | Stock Market LIVE Updates | Adani Ports handles 36.1 MMT Of cargo in Aug’24, up +5% YoY

Price as on 10.49.26 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | RITES shares up 3% after emerging L1 bidder for Tanzania Railways Corporation

Shares of state-owned RITES surged nearly 3% to a high of Rs 666.35 today after it was revealed that the company had won the bid for a $26.74 million project from Tanzania Railways Corporation.
The project entails the supply, testing, and commissioning of four Diesel Multiple Units for MGR.

Price as on 10.32.57 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Escorts Kubota sells 5,614 tractors in August 2024

Price as on 10.32.15 AM, Click on company names for their live prices.

Rupee falls 3 paise to 83.88 against US dollar

The rupee fell 3 paise to 83.88 against the US dollar in early trade on Monday, impacted by fluctuating crude oil prices.
Forex traders noted that volatility in global dollar markets and stable Brent crude rates contributed to the rupee’s decline.

Stock Market LIVE Updates | Jeyyam Global Foods IPO. Check details

The SME IPO of Jeyyam Global Foods has opened for subscription today and will close on September 4.
The company seeks to raise approximately Rs 82 crore and plans to list its shares on the NSE SME platform.

Stock Market LIVE Updates | Gala Precision Engineering IPO opens for subscription

The issue comprises a fresh equity sale of Rs 135 crore and an offer for sale (OFS) of 6.16 lakh shares.
The IPO closes on September 4.
Promoter and promoter group entities are participating in the OFS, offloading 5.1 lakh shares.
Other individual investors are also partially selling their stakes in the company.

Sensex Today | Stock Market LIVE Updates | Gujarat Gas shares soar 14% to a new all-time high of Rs 689.45

Shares of Gujarat Gas surged 13.6% to a new all-time high of Rs 689.45 on the BSE after the company announced the restructuring of its group entities—Gujarat State Petroleum Corporation (GSPC), Gujarat State Petronet (GSPL), and Gujarat Gas itself. Following this announcement, brokerages have raised the stock’s target price to as high as Rs 715.

Price as on 10.38.38 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | August Auto sales impact

Tata Motors shares declined by 1.5% in early trading after the company reported an 8% drop in domestic vehicle sales for August. Conversely, Maruti Suzuki shares increased by 0.5% despite experiencing a nearly 4% decline in sales.

In contrast, TVS Motor shares rose by 1% following a 13% growth in domestic two-wheeler sales for August, while Hero MotoCorp shares surged over 3% after reporting nearly a 5% increase in domestic sales.

Price as on 09.57.25 AM, Click on company names for their live prices.

Sensex Today | Stock Market LIVE Updates | Firstcry shares under pressure

Firstcry shares cracked 2% after the company reported a narrowed Q1 loss on strong demand for baby care products.

Price as on 09.50.57 AM, Click on company names for their live prices.

Momentum indicators point to strength in trend, and could potentially pave the way for large gains in the near term. Beyond the seasonality threats, we also have a reluctant 50-day SMA whose lag of 3.25% is close to historical extremes which should call for intermittent drops or several flat days in the month ahead before large gains could be seen. With this in perspective, we will have our eyes on 25,365-25,800 as the nearest upside objectives, while downside markers may be placed near 24,800, a crack of which should see 24440 as the first downside objective. But, given the soft closing of Friday, it is fair to expect a consolidation that needs to be contained above 25200 for continuation of uptrend today. – Read more

– Anand James, Chief Market Strategist, Geojit Financial Services

Sensex Today | Stock Market LIVE Updates | Gold prices start the month flat, while silver down by Rs 1,000/kg

Gold October futures at MCX opened at Rs 71,500 per 10 grams, down 0.16%, while silver December futures were at Rs 84,190/kg, falling 1.2%. On Friday, both metals settled lower domestically and internationally.

Stock Market LIVE Updates | In Focus: Bajaj Auto August auto sales numbers

Total sales at 3.97 lakh units, up 16% YoY

Price as on 09.36.40 AM, Click on company names for their live prices.

Sensex Today | Heatmap: Top Sensex gainers & losers in today’s trade

Sensex Today | Opening Bell: Sensex scales new record high, jumps 360 pts, Nifty claims 25,300; Airtel, M&M up 2% each

Stock Market LIVE Updates: Sensex rises 367 points, Nifty above 25,300 in pre-open session

Stock Market LIVE Updates | Hot stocks: Brokerages on Axis Bank and Gujarat Gas

Brokerage firms like UBS have issued a buy rating for Axis Bank, while Emkay and Equirus have revised their ratings for Gujarat Gas. Emkay has upgraded its rating for Gujarat Gas from sell to reduce, and Equirus has changed its rating from reduce to add.

Stock Market LIVE Updates | Acko’s Life cover biz to focus on term plans, pensions

Acko, supported by prominent private equity investors General Atlantic and Multiples Private Equity, intends to invest nearly ₹1,000 crore into its life insurance division over the next five years, according to founder Varun Dua. The company plans to expand its product offerings by including pure-term insurance.

Sensex Today | Stock Market LIVE Updates | Brokerage Radar: UBS on Axis Bank: Buy; Target price: Rs 1,250

UBS has upheld a buy rating on Axis Bank, raising the target price to Rs 1,250 from Rs 1,150.

Recent underperformance was driven by sectoral headwinds and weak Q1 results. While structural changes should stabilize metrics, short-term weakness is expected. A re-rating will depend on stable credit quality and growth. The bank’s current valuation discount to peers has widened but seems reasonable at this time.

Sensex Today | Stock Market LIVE Updates | Brokerage Radar: UBS on Axis Bank: Buy; Target price: Rs 1,250

Stock Market LIVE Updates | Japan’s Nikkei hits 1-month high on Wall Street gains, weaker yen

On Monday, Japan’s Nikkei share average climbed to the 39,000 level for the first time since late July, bolstered by a weaker yen and gains on Wall Street from the previous week.

By midday, the Nikkei had risen 0.2% to 38,709.88. Earlier, it reached a high of 39,080.64, its peak since July 31, before profit-taking emerged as the yen’s decline paused. Meanwhile, the broader Topix index remained flat at 2,712.56.

Stock Market LIVE Updates | Gala Precision seems to have wind blowing in its favour

Gala Precision Engineering, a manufacturer of components used in wind power, industrial, and automotive sectors, intends to raise ₹167 crore through an initial public offering (IPO).

Stock Market LIVE Updates | Fund houses to ask Sebi to cut maturity time for AT-1 bonds

Mutual funds are preparing to ask the Securities and Exchange Board of India (SEBI) to ease the maturity requirements for Additional Tier-1 (AT1) bonds. This change aims to incentivize fund houses to invest in these high-yielding debt instruments, which banks issue to bolster their equity capital.

This Monday morning, the stage is set for solid gains in the benchmark Nifty, bolstered by Wall Street’s surge following the Fed’s preferred inflation gauge, which signals potential rate cuts in September. Optimism on Dalal Street is further fueled by a 3.1% drop in WTI crude futures and strong FII buying of Rs 9,217 crore last week. Investors are now eyeing the August US jobs report, set to be released on September 6th, which could shape the Fed’s next move. Meanwhile, Bajaj Housing Finance’s IPO is set to open on September 9th, aiming to raise Rs 6,560 crore. The recommended trades: Buy Nifty and Bank Nifty at CMP, with targets of 25350/25551 and 51357/51750, respectively. NTPC is the top stock pick, with a buy at CMP of 416 and targets of 427/435.

– Prashanth Tapse, Senior VP (Research), Mehta Equities

Stock Market LIVE Updates | SME IPOs see manic rise in retail interest

Regular retail investors are increasingly participating in the initial share offerings of high-risk small and medium enterprises (SMEs), a domain previously dominated by high-net-worth individuals (HNWIs). They are aiming to capitalize on the impressive listing gains these IPOs have been delivering recently.

Stock Market LIVE Updates | Stocks in news: NBCC, Biocon, Maruti Suzuki, Tata Motors, Bajaj Finance, FirstCry, Unicommerce

Indian markets have returned to their recent highs, wrapping up August on a positive note and signaling continued optimism. In today’s trading session, stocks such as NBCC, Biocon, Maruti Suzuki, Tata Motors, Bajaj Finance, FirstCry, and Unicommerce will be highlighted due to various news developments.

Stock Market LIVE Updates: F&O traders could get 80 new stocks to play

Analysts have indicated that the updated eligibility criteria for stocks in futures and options may lead to the addition of 64 to 80 stocks, while 18 to 23 stocks could be removed from the segment.

Stock Market LIVE Updates: Nifty could move towards 25,600: Technical Analysts

The technical trend points to a likely continuation of the current rally, yet the elevated FII long-to-short ratio advises a more cautious perspective for the week.

Sensex Today | Stock Market LIVE Updates: Ahead of Market: 10 things that will decide D-Street action on Monday

Indian bluechip indices, Nifty 50 and Sensex, reaching fresh record highs signifies continued positive momentum in the equity markets, with financials and IT stocks leading the charge. This rally is partly due to favorable US economic data that has eased concerns about global growth, positively influencing Indian markets.

Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a positive start

GIFT Nifty on the NSE IX traded higher by 23 points, or 0.08 per cent, at 25,415, signaling that Dalal Street was headed for positive start on Monday.

Sensex Today | Stock Market LIVE Updates: Rupee rises 4 paise to close at 83.85 against US dollar

The rupee traded in a narrow range on Friday, closing 4 paise higher at 83.85 against the US dollar. This rise was supported by strong domestic equities and a weaker dollar in the global market. Forex traders noted that the rupee benefited from domestic markets hitting new record highs, along with fresh foreign fund inflows. However, a spike in crude oil prices limited further gains.