20 Aug 2024 | 06:49:09 PM IST
Synopsis
Nifty ended Tuesday’s trading session with a gain of 126 points to end near the 24,700-level and form a small positive candle with minor upper shadow on the daily chart.
The underlying trend of Nifty remains positive. A sustainable move above the hurdle of 24700 levels could open the next upside target of 25000-25100 in the near term. Immediate support is at 24500 levels, said Nagaraj Shetti of HDFC Securities.
Open Interest (OI) data showed the highest OI on the call side at 24,900 and 25,000 strike prices, while on the put side, it was concentrated at 24,500 strike price.
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Tata Chemicals raises Rs 1,700 crore through NCDs
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Gold rallies Rs 1,400 to Rs 74,150 per 10 grams; silver jumps Rs 3,150 per kg
Gold prices saw the sharpest gain in the past one month and rallied by Rs 1,400 to touch Rs 74,150 per 10 grams in the local market on Tuesday, amid strong global cues. The precious metal had closed at Rs 72,750 per 10 grams in the previous session on Friday.
Silver price also climbed by Rs 3,150 to Rs 87,150 per kilogram from Rs 84,000 per kg in the previous close.
Tech View: Nifty forms small positive candle. Here’s how to trade on Wednesday
Nifty ended Tuesday’s trading session with a gain of 126 points to end near the 24,700-level and form a small positive candle with minor upper shadow on the daily chart.
The underlying trend of Nifty remains positive. A sustainable move above the hurdle of 24700 levels could open the next upside target of 25000-25100 in the near term. Immediate support is at 24500 levels, said Nagaraj Shetti of HDFC Securities.
Open Interest (OI) data showed the highest OI on the call side at 24,900 and 25,000 strike prices, while on the put side, it was concentrated at 24,500 strike price.
IPO-bound Kalpataru Ltd’s net loss narrows to Rs 101 cr in last fiscal
Kalpataru Ltd, a real estate firm preparing for its first public issue, reported a consolidated net loss of Rs 100.74 crore for the last financial year, a reduction from the Rs 200.73 crore loss recorded in the previous fiscal year (2022-23), attributed to lower income. Last week, the Mumbai-based company submitted preliminary documents to the capital markets regulator, SEBI, seeking to raise up to Rs 1,590 crore through an initial public offering (IPO), primarily aimed at reducing debt.
Just In: Sebi proposes to ease disclosure requirements for rights issue
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- Will reduce rights issue timeline by half T+20 from the date of approval
- Large shareholders will have right to give away their entitlement in rights issue to investors
- Unsubscribed portion of issue can be allotted to select investors at discretion of issuer
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
– Rupak De, Senior Technical Analyst, LKP Securities
The domestic market started the session with a strong surge, buoyed by positive global sentiment amidst Israel-Hamas ceasefire talks and diminishing US recession fears due to recent favourable data. Concurrently, easing geopolitical risks and weak China demand have led to a decline in crude prices, benefiting the domestic economy. Meanwhile, inflationary pressure in Japan and the appreciating Yen cautioned the rally. This week’s Japan inflation data and FOMC minutes will provide insights into future interest rate trajectories and market trends.
– Vinod Nair, Head of Research, Geojit Financial Services
Rupee rises 8 paise to settle at 83.79 against US dollar
Sector View: Nifty PSU Banks, financial services stocks shine
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Closing Bell: Bank & IT stocks push Sensex 378 pts higher; Nifty tops 24,650
Sensex Today | Stock Market LIVE Updates | Sapphire Foods announces record date for 1:5 stock split.
- On Tuesday, Sapphire Foods, the operator of KFC and Pizza Hut, announced September 5 as the record date for its 1:5 stock split.
- Following the announcement, the stock jumped 4.4% on the BSE, reaching a day’s high of Rs 1,628.25.
Price as on 03.10.51 PM, Click on company names for their live prices.
Bitcoin, Ether surge up to 4% on bets for dovish Fed
- With a light economic data calendar this week, market focus is on the release of the Fed’s July meeting minutes on Wednesday and Chair Jerome Powell’s speech at the Jackson Hole Symposium on Friday, both anticipated to offer insights into U.S. interest rate expectations
- As of 2:20 pm IST, Bitcoin was trading nearly 4% higher at $60,842, and Ethereum had risen 1.7% to $2,664. The broader crypto market saw gains, with BNB up 6%, Solana rising 2.7%, XRP increasing 6%, Dogecoin 4.7%, Tron 7%, and Avalanche 5.5%.
Stock Market LIVE Updates | Ashok Leyland aims at single digit growth in MHCV segment
Leading vehicle manufacturer Ashok Leyland is aiming at single-digit growth in the medium and heavy commercial vehicle (MHCV) business in the current financial year, a senior company official said. President (MHCV), Ashok Leyland, Sanjeev Kumar said that the company has a market share of around 30 per cent in this segment and is the number two player in this category.
“We are aiming at a single-digit growth in the MHCV category in the current financial year. With the economy picking up, we are expecting a robust commercial vehicle (CV) market”, he said.
Dollar nears 7-month low ahead of Powell, Swedish crown falls after rate cut
- The dollar neared a 7-month low on rate cut bets, boosting the euro and sterling.
- Sweden’s crown fell 0.33% after a rate cut and easing forecast.
Sensex Today | Stock Market LIVE Updates | Nifty Bank trades in the green
Top gainers at this hour.
Sensex Today | Interarch Building Products IPO booked 7 times on Day 2. Check details
- The IPO of Interarch Building Products was 7 times subscribed on the second day of bidding. The issue, which closes tomorrow, was fully subscribed on the first day.
- So far, the portion reserved for NII was subscribed 19.21 times, and the retail investor category was booked 5.4 times. However, the qualified institutional buyers (QIB) portion has only received 30% of bids.
Sensex Today | Stock Market LIVE Updates | Granules gets ANDA approval for Glycopyrrolate Oral Solution
Price as on 01.38.03 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Hi-Tech Pipes gets Rs 100-cr pipe supply order; to raise Rs 600 cr through equities
Price as on 01.28.10 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Marksans Pharma announces closure of FDA inspection at manufacturing cacility in Goa
Price as on 01.27.14 PM, Click on company names for their live prices.
European shares flat as traders brace for key euro zone data
- European shares remained muted on Tuesday as investors held back from making large bets ahead of important euro zone data. Energy stocks lagged the most due to falling global oil prices.
- The pan-European STOXX 600 index stood at 514.87 points as of 0710 GMT, maintaining its level after reaching a three-week high in the previous session.
Japan’s Nikkei rebounds on softer yen, tech gains
Japan’s Nikkei share average rose on Tuesday amid a broad rally, buoyed by a weaker yen and gains in technology stocks. The positive U.S. economic outlook continued to bolster global risk appetite.
Sensex Today | Stock Market LIVE Updates | Saraswati Saree shares hit 5% upper circuit post strong listing
Following a strong debut on Tuesday, shares of Saraswati Saree Depot reached the 5% upper circuit limit at Rs 209.95 on the BSE. The stock initially listed at Rs 200 on the BSE, marking a 25% premium over the IPO price of Rs 160. On the NSE, it debuted at Rs 194, reflecting a 21.25% premium.
Sensex Today | Stock Market LIVE Updates: Hind Zinc board approves Rs 19/share as interim dividend
Dividend amounts to Rs 8,028 crore
Price as on 12.20.14 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Mazagon Dock shares decline over 8% as ICICI Sec retains sell rat
ICICI Securities expects high margins to sustain until FY27E as major deliveries are planned over the next 2-3 years. However, once the company starts executing new orders, its revenue recognition is likely to be milestone based, and hence, the EBITDA margin could taper off to 12-15%.
The brokerage retained sell rating with a target price of Rs 1,165, which indicates a downside potential of 77%
Price as on 12.02.49 PM, Click on company names for their live prices.
Stock Market LIVE Updates | Hindalco Industries among 4 stocks with White Marubozu Pattern
On August 19, four stocks from the Nifty200 index appeared on the bullish scanner for “White Marubozu” patterns, according to technical scan data from StockEdge.com.
Sensex Today | Stock Market LIVE Updates | China stocks fall as weak appetite, absence of stimulus measures weigh
On Tuesday, stocks in China and Hong Kong fell as recent economic indicators provided little relief and the absence of new stimulus measures left investors cautious.
China maintained its benchmark lending rates at the monthly fixing, matching market expectations. The effectiveness of continued easing was limited due to shrinking interest margins at lenders, following a series of key interest rate cuts a month earlier.
Sensex Today | IndusInd Bank shares up 2.5% after RBI approves setting up of AMC subsidiary
IndusInd Bank (IIB) shares jumped 2.5% to a daily peak of Rs 1,384.55 on the BSE following the Reserve Bank of India’s (RBI) approval for the bank to establish an AMC subsidiary.
This approval marks the first time the RBI has permitted an existing bank to create a new AMC business as a subsidiary, enabling the bank to earn revenue as a mutual fund ‘manufacturer.’
Price as on 11.29.39 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Defense stocks under pressure
Price as on 11.22.52 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Coforge collaborates with salesforce to Launch Innovative Sustainability solutions.
Price as on 11.07.45 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Nifty IT hits 52-week high
- Index jumps over 1%
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Sensex Today | Stock Market LIVE Updates | Sensex jumps 500 pts
RIL, HDFC Bank, Infy lead contributors.
Sensex Today | Stock Market LIVE Updates | Saraswati Saree Depot shares list at 25% premium over issue price
On Tuesday, Saraswati Saree Depot’s shares made their market debut with a 25% premium. The stock opened at Rs 200 on the BSE, compared to an issue price of Rs 160.
On the NSE, the shares listed at Rs 194.
Zomato shares fall 2% after Antfin Singapore likely offloads 2% stake via block deal
Shares of the food aggregator Zomato dropped by 2% to a day’s low of Rs 257.10 on the BSE during early trading after Antfin Singapore reportedly sold a 2.4% stake in the company through a block deal.
Reports indicate that around 21 crore shares, equivalent to a 2.4% stake in the online food delivery platform, were exchanged in the block deal.
Sensex Today | Stock Market LIVE Updates | Ola Electric shares at record high; doubles from IPO price of Rs 76/share
Sensex Today | Stock Market LIVE Updates | Ola Electric Large Trade Alert
2.3 crore shares (0.5% equity) worth Rs 352.9 crore change hands at average of Rs 151/share
Price as on 09.44.07 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | IndusInd Bank share price rises over 1% on approval of AMC biz
The bank received a Reserve Bank of India (RBI) nod to set-up a mutual fund asset management business.
Price as on 09.23.56 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 rallies 250 pts, Nifty above 24,600; Ola Electric jumps 5%, BPCL 2%
Sensex Today | Block deal in Zomato: 2.2% equity traded; stock down 1%
Price as on 09.16.55 AM, Click on company names for their live prices.
Stock Market LIVE Updates: Sensex jumps 290 pts, Nifty above 24,600 in pre-open session
Stock Market LIVE Updates | Japan’s Nikkei tracks Wall Street rally amid softer yen
On Tuesday, Japan’s Nikkei share average followed Wall Street’s upward trend, overcoming the recent strength of the yen. The positive U.S. economic outlook bolstered global risk appetite.
By midday, the Nikkei had risen 1.7% to 38,015.87, recovering from losses in the previous session that were attributed to the yen’s appreciation, which had weighed on Japanese stocks.
Stock Market LIVE Updates: Alibaba affiliate may sell 1.54% stake in Zomato
Antfin Singapore, a subsidiary of the Chinese conglomerate Alibaba Group, is expected to sell a 1.54% stake in the online food delivery platform Zomato on Tuesday through block deals, targeting a raise of approximately ₹3,400 crore.
Stock Market LIVE Updates | Poly Medicure seeks to raise as much as Rs 1,000 cr via QIP
Stock Market LIVE Updates | Gold holds ground above $2,500 on weaker dollar; markets await Fed minutes
Gold prices remained above $2,500 on Tuesday, supported by a weaker U.S. dollar and lower Treasury yields. Traders were also waiting for the minutes from the Federal Reserve’s most recent policy meeting to provide more insights on potential interest rate cuts.
Spot gold edged 0.1% higher to $2,505.92 per ounce by 0038 GMT. Prices had hit an all-time high of $2,509.65 on Friday.
Stock Market LIVE Updates | Asian stocks climb on bullish Wall Street cue: Markets wrap
Asian stocks increased, buoyed by a strong performance on Wall Street as expectations grew that the Federal Reserve might soon indicate a readiness to start cutting interest rates.
Shares rose in Japan, South Korea, and Australia, with the MSCI Asia-Pacific index on track for its third consecutive day of gains. Hong Kong futures also suggested an upward trend. This advance was driven by a positive sentiment in the U.S., where the S&P 500 extended its winning streak to eight days—the longest of the year.
Stock Market LIVE Updates | Oil prices tick down as hopes of Middle East ceasefire eases supply worries
Oil prices dipped slightly on Tuesday as Israel agreed to a proposal aimed at resolving disputes that had been hindering a ceasefire deal in Gaza, which alleviated concerns about potential supply disruptions in the Middle East.
Brent crude decreased by 12 cents, or 0.15%, settling at $77.54 per barrel. Front-month U.S. West Texas Intermediate crude futures, which expire on Tuesday, fell by 14 cents, or 0.2%, to $74.23 a barrel. The more actively traded second-month contract declined by 15 cents, or 0.2%, to $73.52.
Stock Market LIVE Updates | Dollar at seven-month low on rate cut bets, Powell speech in focus
On Tuesday, the dollar remained close to a seven-month low as traders anticipated that the U.S. central bank might begin reducing interest rates as early as next month. Market participants were also awaiting remarks from Federal Reserve Chair Jerome Powell on Friday.
The dollar’s decline boosted the euro to its highest level of the year, and the pound hovered near a one-month peak. Additionally, the emerging markets currency index reached a record high.
Stock Market LIVE Updates | Wall St ends higher, extending rally ahead of Jackson Hole
U.S. stocks rose on Monday, extending their biggest weekly percentage gain of the year. Investors were attentive to the Democratic National Convention and the forthcoming Jackson Hole Economic Symposium.
The tech-focused Nasdaq drove the gains across all three major U.S. stock indexes, buoyed by strong performances from Nvidia, Microsoft, and Alphabet.
