Share Market HIGHLIGHTS: Sensex ends 542 pts lower, extends losses to 3rd straight day; Nifty cracks below 19,400; Titan, ONGC, Bajaj Finserv, ICICI Bank drop 2%
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex saw a heavy correction for the third consecutive day on Thursday, August 3, amid selling in banks, financial services, real estate, and FMCG stocks. Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Indian equity benchmarks Nifty 50 and Sensex saw a heavy correction for the third consecutive day on Thursday, August 3, amid selling in banks, financial services, real estate, and FMCG stocks. Titan Company ended as the top loser on the Nifty50 index, down 2.39 per cent. Besides, ONGC, Bajaj Finserv, and ICICI Bank were the other top losers on the index. Sensex finished 542.10 points, or 0.82 per cent lower at 65,240.68, whereas Nifty settled at 19,381.65, down 144.9 points, or 0.74 per cent from its previous close.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog:
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Share Market HIGHLIGHTS | Sensex ends 542 pts lower, extends losses to 3rd straight day; Nifty cracks below 19,400
Nifty 50
Nifty finishes below 19,400, down by 0.74 per cent on Thursday.
Source: NSESensex
Sensex ends 542 points lower at 65,240.68, extending losses to 3rd straight day on Thursday.
Source: BSE
Share Market HIGHLIGHTS | Titan, ONGC, Bajaj Finserv among top losers in the Nifty basket
Titan, ONGC, Bajaj Finserv and ICICI Bank are among the top losers in the Nifty basket, down around 2 per cent. On the other hand, Adani Enterprises, Adani Ports, Eicher Motors and Divi's are among the top gainers, trading with gains of around 2-1 per cent.
Source: NSE
Share Market Today LIVE | KSB shares zoom 10% to 52-week high driven by strong Q2 results
Pumps and valve manufacturer KSB's shares zooms on Thursday after the company reported a strong set of quarterly numbers. The KSB stock jumped by as much as over Rs 442 or 19 per cent to Rs 2,529 apiece on BSE, surpassing an earlier 52-week peak. KSB shares are up 16.12 per cent at Rs 2,673 apiece on the bourse. Read more
Share Market Tips LIVE | Buy IKIO Lighting, Sterling Tools shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying IKIO Lighting shares for a target of Rs 430 with a stop loss at Rs 402. Besides, he recommends buying Sterling Tools shares for a target of Rs 375 with a stop loss at Rs 350.
Share Market Today LIVE | SBFC Finance IPO hits Street; here’s all you need to know
SBFC Finance IPO: SBFC Finance’s initial public offer (IPO), estimated to be worth Rs 1,025 crore, has opened for subscription on Thursday, August 3. SBFC Finance is a Mumbai-based non-banking financial company (NBFC) offering financing opportunities to business owners underserved by traditional banks. The IPO — comprising fresh issuance worth up to Rs 600 crore and an offer for sale (OFS) worth Rs 425 crore by promoters and existing shareholders — will be available for bidding, from 10 am to 5 pm, for three trading days till August 7.
SBFC Finance IPO subscription status
So far on the first day of the bidding process, the SBFC Finance IPO has received bids for 11.3 crore shares as against the 13.4 crore shares on offer, a subscription of 85 per cent, according to provisional exchange data. The portions reserved for non-institutional investors and retail investors are subscribed 1.4 times and 1.1 times respectively. The quota meant for qualified institutional buyers has not received any bid.
Here are some of the key details about the SBFC Finance IPO:
Issue price
Under the IPO, potential investors can bid for SBFC Finance shares in the price range of Rs 54-57 apiece in multiples of 260.
Important dates
The basis of the allotment of shares is likely to be finalised on August 10. Successful bidders will likely get shares credited into their demat accounts on August 14 and other participants will have refunds initiated on August 10. Read more
Share Market Today LIVE | MRF reports five-fold jump in June quarter net profit to Rs 581 crore; shares rise
Tyre manufacturer MRF on Thursday reports a net profit of Rs 581 crore for the quarter ended June 2023, marking an increase of more than five times from a net profit of Rs 112 crore for the corresponding period a year ago. The company's revenue grows to Rs 6,323 crore for the April-June period as against Rs 5,599 crore for the year-ago period, according to a regulatory filing. MRF shares rise as much as over two per cent after the announcement on NSE. Read more
Image: Official website/ Representational image Share Market Today LIVE | Sun Pharma hits 52-week high
Sun Pharma shares gain by as much as nearly 3 per cent to clock a 52-week high of Rs 1,169.90 apiece, surpassing an earlier peak of Rs 1,155 touched on July 23, 2023, on NSE.
Stocks to Buy | Divi's, IndiGo, GAIL, Marico, IDFC among analysts' top picks
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Vikas Sethi, Himanshu Gupta, Sumeet Bagadia, Rakesh Bansal and Kunal Saraogi share their top recommendations for the day in this special segment, Pick of the Day. On the top analysts' 'buy' list are stocks such as Divi's Laboratories, GAIL, Marico, IndiGo and IDFC. Read more
Share Market Today LIVE | Titan shares slip 3% on soft Q1 numbers; is it a buying opportunity?
Shares of Titan Company slips as much as 3.15 per cent to Rs 2,884.55 apiece on the BSE on Thursday, a day after the company reported muted numbers for the June 2023 quarter. Its EBIT margin saw a decline of 226 basis points to 10.7 per cent. Its net profit, or profit after tax (PAT), on a standalone basis, came in at Rs 777 crore, down 2 per cent while its total income grew 19 per cent YoY to Rs 10,306 crore. Read more
Dividend Stocks | Maruti Suzuki, Alembic Pharma, United Breweries, Aegis Logistics, Granules among 16 shares to trade ex-date today
A total of 16 stocks will trade ex-dividend on Thursday, August 3, according to the NSE website. The list includes Maruti Suzuki, Alembic Pharma, United Breweries, Aegis Logistics, Granules, and other stocks.
Maruti Suzuki dividend 2023
Maruti Suzuki India has announced a dividend of Rs 90 per equity share with a face value of Rs 5.
Granules dividend 2023 record date
Granules India has announced a dividend of Rs 1.5 per equity share with a face value of Re 1. The record date is also August 3.
Aegis Logistics dividend record date
Aegis Logistics has announced an interim dividend of Rs 2.5 per equity share with a face value of Re 1. The record date is also August 3.
Usha Martin dividend 2023 record date
Usha Martin has announced a dividend of Rs 2.5 per equity share with a face value of Re 1. The record date is also August 3. Read more
Share Market Today LIVE | Vedanta shares plunge over 8% after promoters sell 4.3% stake via block deal
Shares of mining major Vedanta (VEDL) come under heavy selling pressure in the early trade on Thursday after billionaire Anil Agarwal-led mining major's promoters sold a 4.3 per cent stake through a block deal, as per reports. Promoter Twin Star Holdings sold 16 crore shares and reduced its stake in the company from 46.4 per cent earlier to 42.1 per cent. The deal was at a 5 per cent discount from the current market price. The counter trades 8.36 per cent lower at Rs 249.4 apiece on the NSE. Read more
Source: NSE
Share Market Today LIVE: Sensex drops over 200 pts, Nifty holds 19,450
Nifty 50
Nifty trades near 19,450 in early morning deals.
Source: NSESensex
Sensex drops over 200 points in early morning deals.
Source: BSE
Anil Singhvi Market Strategy | Important levels to track in Nifty, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 19,385-19,425 levels and a strong buy zone at 19,300-19,350 levels on Thursday, August 3. For the Nifty Bank, he expects support at 44,625-44,725 levels and a strong buy zone at 44,325-44,450 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Morgan Stanley upgrades India to Overweight
Morgan Stanley has raised India’s rating to overweight, saying relative valuations are 'less extreme' than in October, and the nation’s reform and macro-stability agenda supports a strong capex and profit outlook, according to a report by Zee Business.
"India is arguably at the start of a long-wave boom at the same time as China may be ending one," strategists at Morgan Stanley wrote in their latest research note. Meanwhile, the global brokerage has downgraded China and Taiwan to equal weight. Read more
Stocks to Watch | Titan, Bharti Airtel, IndiGo, Zomato and Eicher Motors among stocks to track on Thursday
Investors on Thursday morning will react to quarter earnings from Engineers India, Gujarat Gas, Aditya Birla Capital, HPCL, Indian Overseas Bank, Mankind Pharma, Metropolis, Narayana Hrudayalaya, Quess Corp, Star Health, Vaibhav Global, and Sapphire Foods, who were about to announce their results Wednesday at the time of writing this report.
ZeeBiz takes you through a list of stocks that can make some impact today:
Results today, August 3
Bharti Airtel, Sun Pharma, Eicher Motors, LIC Housing Finance, Lupin, MRF, Dabur, Zomato, Radico Khaitan, Varun Beverages, Zydus Wellness, Blue Star, Cummins, HCC, JM Financial, Karnataka Bank, Cera, Clean Science, Deepak Nitrite, Adani Enterprises and Adani Power will announce their June quarter numbers today.
Titan
The Tata Group company reported its first-quarter results on Wednesday, reporting a 2 per cent year-on-year (YoY) fall in its standalone net profit at Rs 777 crore, down from Rs 793 crore in the year-ago period. The company's total income grew 19 per cent YoY to Rs 10,306 crore. It missed Zee Business Research estimates as its EBIT slipped 2 per cent YoY to Rs 1,103 crore as against Rs 1,121 crore in the year-ago period.
IndiGo
InterGlobe Aviation, the parent company of IndiGo Airlines, reported a consolidated net profit of Rs 3,090.6 crore for the April-June period, compared to a net loss of Rs 1,064.3 crore for the corresponding period a year ago. The company beat Zee Business Research estimates as it clocked a net income of Rs 16,683.1 crore as against Rs 12,855.3 crore in the corresponding period last year. As per the analysts, IndiGo's quarterly net profit was estimated at Rs 1,320 crore and revenue at Rs 15,200 crore.
Eicher Motors
Eicher Motors is also set to release its April-June quarter results on Thursday (August 3). The parent company of Royal Enfield is estimated to report consolidated revenue of Rs 4,050 crore, up 20.3 per YoY, as per Zee Business Research estimates. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a negative start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 53 points or 0.27 per cent at 19,531 ahead of the opening bell on Dalal Street.
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