Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Wednesday’s trading session in the positive territory. The NSE Nifty 50 gained just 4.75 points or 0.02% to settle at 24,143.75, while the BSE Sensex jumped 149.86 points or 0.19% to 79,105.89. The broader indices ended in mixed territory, with gain led by Large-cap stocks. Bank Nifty index ended lower by 104.55 points or 0.21% to settle at 49,727.30. IT and Auto stocks outperformed among the other sectoral indices while Metal and Media stocks shed.
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Benchmark domestic indices BSE Sensex and NSE Nifty 50 ended in positive territory on Wednesday.
The NSE Nifty 50 gained just 4.75 points or 0.02% to settle at 24,143.75, while the BSE Sensex jumped 149.86 points or 0.19% to 79,105.89.
TCS, HCL Tech, Tech Mahindra, Infosys, and BPCL are the top gainers on NSE Nifty 50 index whereas the top laggards include Divis Lab, Hero MotoCorp, Coal India, Ultratech Cement, and DR Reddy’s Lab.
Mahanagar Telephone Nigam shares fell 2.15% to Rs 58.67 on the NSE after the company reported a standalone net loss of Rs 771.82 crore for the quarter ended June 2024, compared to a loss of ₹850.15 crore in the same quarter last year.
Commenting on the rupee dollar outlook Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas said that we expect Rupee to trade with a slight negative bias on elevated commodity prices and heightened geopolitical tension in the Middle East between Israel and Iran.
Choudhary also said that weak Dollar and rising odds of a rate cut by Fed may support the Rupee. Positive global markets may also support the Rupee at lower levels. Traders may take cues from US CPI data today and retail sales data from. USDINR spot price is expected to trade in a range of Rs 83.75 to Rs 84.20.
Ajmera Realty & Infra India has been awarded a CRISIL A-/stable rating by CRISIL. This rating reflects ARIIL’s strong financial and operational performance and highlights its solid position in the Indian real estate sector. The accreditation is expected to help the company optimize its debt profile, enhance credibility, and facilitate new collaborations.
EPL shares surged nearly 13% to reach a 52-week high of Rs 246.40 on the BSE on Wednesday, August 14, following the company’s strong financial performance in Q1 FY25.
CG Power and Industrial Solutions announced that the State Tax Officer from the Pondy Bazaar Assessment Circle has issued a demand order under the TNGST Act, imposing a penalty of ₹12,60,618. The penalty pertains to issues such as E-way bill turnover mismatch with GSTR-1, ITC mismatch with GSTR-2A, ITC from a cancelled GSTN, and discrepancies related to TDS credit for the financial year 2019-20.
Royal Orchid Hotels’ stock dropped 3.08% on the NSE, trading at Rs 334 after the company reported a standalone net profit of Rs 4.43 crore for the quarter ended June 2024, down from Rs 4.66 crore in the same quarter last year.
Hindustan Aeronautics Limited (HAL) reported a standalone net profit of Rs 1,435.59 crore for the quarter ended June 2024, up from Rs 814.19 crore in the same quarter last year. Despite the strong earnings, HAL’s shares remained flat, trading at Rs 4,742.80 on the NSE.
Domestic gold futures saw a slight decline on Wednesday, August 14, as investors focused on upcoming US inflation data that could impact future interest rate decisions. By midday on the Multi Commodity Exchange (MCX), gold futures had dropped by Rs 110, trading at Rs 70,589 per 10 grams.
Larsen & Toubro (L&T) has entered into a share purchase agreement with The Wave Development SPC to acquire an additional 15% stake in its joint venture, Larsen & Toubro (Oman) LLC. Despite the announcement, L&T shares remained flat, trading at Rs 3,556.30 on the NSE.
Bharti Airtel’s stock rose by 1.32% on the NSE, reaching Rs 1,479 after the company announced the launch of its network in Phobrang village on the Indo-China border.
Shares of mining companies, including NMDC, Tata Steel, Vedanta, Hindustan Zinc, and MOIL, dropped by up to 5% on Wednesday after a Supreme Court ruling permitted states to collect past dues on mineral royalties from the Centre.
Read More: Mining stocks NMDC, Vedanta, Hind Zinc, MOIL, Coal India plunge as much as 5% after SC allows states to collect past dues on royalties
Promoters of Adani Group have substantially increased their stakes in five of its companies, investing over Rs 23,000 crore during the June quarter, as per the latest shareholding data.
Read More: From Ambuja Cement to Adani Power: Adani Group promoters increase holdings in five firms by over Rs 23,000 crore
Birla Estates Private Limited, a wholly owned subsidiary of Century Textiles & Industries, has established a new wholly owned subsidiary named Unnatam Properties Private Limited. Following the announcement, Century Textiles’ stock declined by 4.13% on the NSE, trading at Rs 2,110.
Except for HDFC Bank, SBI, and Federal Bank every constituent in the Bank Nifty was trading in the red.
Courtesy: NSE
Saraswati Saree Depot IPO will stop taking bids for the issue on August 14. The company wants to raise a total of Rs 160.01 crore through a combination of fresh shares and an offer for sale. The company opened its issue to investors on August 12 onwards.
The stock of Suzlon Energy stuck in its lower circuit of Rs 76.75 a day after hitting an all-time high of Rs 84.29. Interestingly the stock touched its 52-week low of Rs 19.30 on August 14, 2023, a year back on the same day.
Shares of Policy Bazaar or PB Fintech rose more than 15% to hit a new 52-week high of Rs 1,709.95. The upper band for the stock is placed at Rs 1,779.15.
Tata Steel, UltraTech Cement, Adani Ports, JSW Steel, and ICICI Bank were the major draggers of the Sensex on August 14.
Courtesy: BSE
“The near-term performance is likely to take a hit post flooding at Novelis’ EU-based Sierre plant and fall in LME aluminium prices. However, we expect gradual completion of the ongoing capex in Novelis and India operations coupled with a focus on strengthening value-added products and backward integration to bode well for future performance. Thus, we reiterate “Accumulate” and retain our estimates during FY25-26. We introduce FY27E and rollover to June 2026E from March with a higher SOTP-based target price of Rs 734 from Rs 715 on 6.3x (unchanged) June 2026E EV/EBITDA to Novelis, and 5.5x (unchanged) to other business,” said Elara Securities in a research report.
The stock of Divi’s Laboratories fell 4.2% to an intraday low of Rs 4,655.30 from its previous close of Rs 4,861.80. The stock of the company was the major loser in the Nifty 50. The stock touched its 52-week low of Rs 3,295.30 on November 06, 2023.
The Nifty 50 was up 7 points or 0.03% at 24,146 while the Sensex was up 124 points or 0.16% at 79,080.
Maruti Suzuki India has been issued a Show Cause Notice by the Office of the Commissioner of Customs (Import) at the Air Cargo Complex in Mumbai. The notice demands the company explain its claim for a customs duty exemption on certain imported goods and requires it to pay a differential duty of Rs 3,81,37,748, along with applicable interest and penalties.
HSCC (India) shares rose 2.06% on the NSE, trading at Rs 176.88, after a wholly owned subsidiary of NBCC (India) Limited received a work order valued at Rs 528.21 crore. The order is for the procurement of biomedical equipment and hospital furniture for Pt. Deen Dayal Upadhayaya University of Health Sciences in Kutail, Karnal.
Diamond Power Infrastructure has received a letter of intent from Larsen & Toubro Limited Construction for a Rs 40.12 crore (inclusive of GST) contract to supply AL 59 Zebra Conductors—New Generations Aluminum Alloy Conductors. Despite this development, the stock declined by 2% on the NSE, trading at Rs 1,459.80.
Commenting on the Technical outlook of Bank Nifty today Drumil Vithalani Technical Research Analyst, Bonanza Portfolio said that Bank Nifty opened on a negative note and further selling was witnessed throughout the day concluding the day at 49831.85 (-1.48%) The drop below another immediate support levels of 49800 mark could activate further downward correction in the markets for Bank Nifty to advance toward the 50700 it has to successfully trade above 50500 resistance levels.
Vithalani also added that On the downside, the index has key support levels at 49800 and 49500. As long as the index remains Below the 50500 level, it is expected to trend lower towards the 49500 mark. Participates should keep an eye on the said crucial levels to capture potential movements on either side As per options statistics, the range for the markets going ahead is 49500-50000
Markets to remain shut on August 15 on account of Independence Day. Both the exchanges the National Stock Exchange and BSE will not conduct trading on Thursday. The equities, equity derivatives, and SLB segments will remain closed and trading will not happen.
The capital markets, futures, and options markets will also remain closed on August 15.
This is the only holiday for markets in the month of August. Markets will be operating for a total of 21 days in August.
Mining stocks, including NMDC, Hind Zinc, Vedanta, and Coal India, are expected to remain in focus following a Supreme Court ruling on Wednesday. The court has permitted states to collect past dues on royalties from mineral-bearing land from the Centre and mining companies dating back to April 1, 2005. This decision was announced by Chief Justice of India (CJI) DY Chandrachud as part of the nine-judge constitution bench’s verdict on whether its July 25 ruling, which upheld the power of states to levy taxes on mineral rights and land, would be applied retrospectively or prospectively.
Shares of Zydus Wellness Products slid 2.16% on the NSE, trading at Rs 2,228.30, following news that a wholly-owned subsidiary has received an order from the Commercial Tax Officer in Dharwad, Karnataka. The order, issued under section 73 of the CGST Act, 2017, alleges a short payment of tax for FY 2019-20 amounting to Rs 0.74 million, including a penalty of Rs 0.04 million, due to alleged excess input tax credit claimed.