Share Market Today HIGHLIGHTS: Sensex ends 217 pts lower from day's high, Nifty settles at 19,306; L&T gains 2%

Share Market Today LIVE | S&P 500 finishes higher as jobs data fuels rate-hike optimism

The S&P 500 closed higher on Friday ahead of a long weekend after an increase in unemployment triggered expectations of a pause in interest rate hikes this month, whereas shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications. The Labor Department's report showed the August unemployment rate rose to 3.8 per cent while wage growth slowed. Nonfarm payrolls rose more than expected, though data for July was revised lower to 157,000 job additions.

The S&P 500 gained 0.18 percent to end at 4,515.77 points. The Nasdaq declined 0.02 per cent to 14,031.82 points, and the Dow Jones Industrial Average (.DJI) rose 0.33 per cent to 34,837.71 points.

Thank you! That's all today on Zeebiz.com's blog on the Indian share market

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SENSEX AT CLOSE 

MARKET AT CLOSE: Sensex ends at 64,996.60, up 110 points, or 0.17 per cent and the NSE's Nifty settles at 19,306.05, up 40.25 points, or 0.21 per cent
 

MARKET UPDATE: RIL, Jio Financial Services see sharp fall amid ongoing 46th AGM 

Cement sector Q1 review: What lies ahead after a mixed performance in Q1? Check top stocks to bet on

The cement sector reported mixed results for the quarter ended June 30, 2023 (Q1 FY24). According to a report by Sharekhan, the cement companies' revenue during the quarter grew 15.8 per cent year-on-year (YoY), with a dip of 6.3 per cent YoY in weighted average EBITDA/tonne. The net profit increased marginally by 4.6 per cent YoY, while blended realisations declined by 2.5 per cent YoY, as estimated. READ MORE

Vedanta shares rise after mining giant wins big in arbitration against government

Mining major Vedanta’s shares were in demand on Monday, halting a two-day losing streak, after the company—led by billionaire Anil Agarwal—won an arbitration against a demand by the government for a higher payout from its Rajasthan oil and gas fields. Vedanta shares gained by as much as Rs 6.7, or 2.8 per cent, to Rs 240 apiece in intraday trade on BSE. READ MORE

MARKET UPDATE | Leading gainers on the BSE

RailTel shares hit 52-week high as it targets big orders from Railways for anti-collision tech

Shares of the state-run RailTel Corporation of India Ltd. hit a 52-week high of Rs 183.95 apiece on Monday (August 28, 2023) after the company's chairman and managing director, Sanjai Kumar, said in an investor call on Friday (August 25) that the company was eyeing Rs 4,000–5,000 crore worth of orders related to LTE and Kavach from the railway ministry. READ MORE

MARKET UPDATE | Indices extend gains; Sensex up nearly 250 points

Reliance AGM 2023: RIL shares trade flat, Jio Financial Services up over 2.5% ahead of 46th AGM

Shares of Reliance Industries (RIL) were trading flat at Rs 2,471.85, up 0.08 per cent in the noon trade on Monday, August 28, 2023, ahead of its 46th annual general meeting (AGM), which is slated to start around 2 PM today. Jio Financial Services, on the other hand, was trading 2.71 per cent higher at Rs 218 on the BSE. READ MORE

STOCK IN NEWS: BEML shares jump as analysts give a thumbs-up to PSU's robust order book

Bharat Earth Movers Ltd (BEML) shares rose on Monday after the state-run company won an order worth $19.71 million (Rs 161.6 crore at $1 = Rs 82) from Russia's KAMSS, a mining and transport equipment company. BEML shares gained by as much as Rs 68, or 3.2 per cent, to Rs 2,102.1 apiece on BSE within the first few minutes of trade, coming within Rs 39 of a 52-week high scaled last week. BEML Land Assets share rose by Rs 3.1, or 1.7 per cent, to Rs 181.2 apiece at the strongest level of the day. READ MORE

EXPERT TAKE: Pre-RIL AGM by Prashanth Tapse, Research Analyst Sr VP Research, Mehta Equities Ltd

"All eyes would be on the RIL AGM and its announcement, focusing on Jio Financial's future outlook post-demerger and other high hopes on Future Retail IPO, Reliance Jio IPO, and the company's succession plans in the future. RIL has a lot of plans on cards for value unlocking, which started with Jio Financials, but initial reactions post-listing were not as high as street expectations. I believe Mukesh Ambani will be focusing more on the Jio Financial plan of action in the coming days, which will pave the road clear for further value unlocking of retail and Jio telecom ventures. Technically, Reliance is in a short-buildup trend, so any close above Rs 2,500 can be a turning point for the stock, and AGM highlights will be highly watched. We are neutral, and investors should wait and watch for the AGM outcome before taking any action in RIL and Jio Financial."

MARKET UPDATE: Sensex trades over 160 points higher, Nifty above 19,300 levels

BUZZING STOCK: RailTel Corporation jumps more than 8%

IN FOCUS: Rice stocks trade mixed after govt imposes 20% duty on exports of parboiled rice

After ZeeBiz broke the news on Saturday, August 28, 2023, that India had imposed a 20 per cent duty on exports of parboiled rice with immediate effect, shares of prominent rice companies were mixed on Monday, August 28, 2023. While KRBL, Kohinoor Foods Ltd, and Mishtann Foods Ltd were down in early trading on Monday, GRM Overseas Ltd, and LT Foods were trading higher. READ MORE

Traders' Diary: Buy, sell or hold strategy on SBI Life, RailTel, Pidilite, BEL, ONGC, over a dozen other stocks today

Here's the complete list of investment and trading ideas for the day:

Kushal Gupta

Buy Avadh Sugar shares in the cash segment for a price target of Rs 540 with a stop loss at Rs 517

Buy BEL futures for a target of Rs 137 with a stop loss at Rs 129

MARKET UPDATE | S&P BSE Midcap index trades in positive territory

Market opens in the green | Power Grid, L&T top gainers on S&P BSE Sensex

The headline indices opened in positive territory on Monday, August 28. The S&P BSE Sensex was up over 150 points at opening while the NSE's Nifty topped the 19,300 levels. 

Anil Singhvi strategy for August 28: Important levels to track in Nifty, Nifty Bank today

Singhvi believes that it is important for the Nifty to close above the 19,300 mark in Monday's session while the Nifty Bank remains in the safe zone. Moves in the headline index will be determined by Reliance and Adani Group stocks, he adds. READ MORE

EXPERT TAKE | Pre-opening market comment by Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd

"Local markets are likely to join the positive global trend following dovish Federal Reserve Chair Jerome Powell's speech at the central bank's annual economic symposium in Jackson Hole on Friday. Markets have been lingering in negative territory in the past few weeks due to weak global cues and FII selling, and hence recovery is anticipated owing to India's underlying economic strength compared to other global economies. However, with weak global macroeconomic conditions prevailing in China and other global economies, intra-day volatility could still prevail in the near to medium term. Besides, traders will be keenly following the Reliance Industries AGM today, which assumes significance, especially in the backdrop of Jio Financial Services' muted performance since its listing. Technically, Nifty’s upside is likely to be capped at the 1943–19589 zone, while caution will continue to be the buzzword as long as Nifty is trading below the 19,589 mark."

Stocks in focus: Adani Enterprises, Bharat Electronics, GAIL, RIL, Gland Pharma, Tata Steel, L&T, IOCL and Brightcom Group

The Securities and Exchange Board of India (SEBI) has filed a status report with the Supreme Court in the Adani-Hindenburg case. Besides, Bharat Electronics has received new defense and non-defense sector orders worth Rs 3,289 crore. Total order inflow in FY24 so far: Rs 11,380 crore. Meanwhile, Reliance Industries (RIL) is slated to hold its 46th annual general meeting (AGM) today. CLICK HERE TO READ MORE

GLOBAL CUES | US dollar soft as investors digest 'higher for longer' path

The dollar eased from a 12-week peak on Monday as traders weighed the US monetary path after Fed Chair Jerome Powell left open the possibility of further interest rate increases, while the yen hovered close to its lowest in over nine months. In an eagerly awaited speech at the annual Jackson Hole Economic Policy Symposium, Federal Reserve Chair Powell promised to move with care at upcoming meetings as he noted both progress made on easing price pressures as well as risks from the surprising strength of the US economy. READ MORE

Crude oil ticks higher after China moves to support its flagging economy

Crude oil prices tick higher, along with equity markets, though investors remain worried about the pace of growth as well as further US interest rate hikes that could dampen fuel demand.

Brent crude climbs up by 22 cents, or 0.3 per cent, to $84.7 a barrel while US West Texas Intermediate crude is at $80.08 a barrel, up by 25 cents, or 0.3 per cent.

Read more on crude oil here

Asian shares in the green after China announces measures to support its economy; data-packed week ahead

Equities in major markets across Asia are trading firmly in the green at this hour, with MSCI's broadest index of Asia Pacific shares outside Japan trading up 1.3 per cent. China's move to announce new measures to support its ailing economy is supporting the equities, though the mood remains cautious ahead of readings on US jobs and inflation could decide whether interest rates have to rise again.

Here's how some of the major indices in the region fare at this hour: 

• Japan's Nikkei 225: up 1.7%
• China's Shanghai Composite: up 2.3%
• Hong Kong's Hang Seng: up 1.9%
• Singapore's Straits Times: up 1.2%
• South Korea's KOSPI: up 0.9%

Read more on Asian markets here

GIFT Nifty futures in the green, suggest a positive start on Dalal Street today