Share Market HIGHLIGHTS: Sensex ends 388 pts lower, halts 2-day winning run, Nifty gives up 19,400; ITC, LTIM, PowerGrid drop 2%
Share Market HIGHLIGHTS: The domestic equity market on Thursday, August 17, ended in negative territory amid selling in auto, bank, FMCG, IT, financial services, and pharma stocks. Catch minute-by-minute updates of all the action in the stock 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: The domestic equity market on Thursday, August 17, ended in negative territory amid selling in auto, bank, FMCG, IT, financial services, and pharma stocks. The US Fed's hawkish commentary and weakness in Asian markets dented investor sentiment in the Indian market. S&P BSE Sensex ended 388.4 points, or 0.59 per cent lower at 65,151.02, while the NSE Nifty slipped 99.75 points, or 0.51 per cent to settle at 19,365.25.
Broder market indices, on the other hand, ended in the green. The Nifty Mid Cap 100 was up 0.25 per cent and the Nifty Small Cap 100 was up 0.14 per cent.
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 388 pts lower, halts 2-day winning run, Nifty gives up 19,400
Nifty 50
Nifty ends at 19,365.25, down 0.51 per cent.
Source: NSESensex
Sensex ends 388 points lower at 65,151.02 on Thursday.
Source: BSE
Share Market HIGHLIGHTS | ITC, LTIMindtree, PowerGrid among the top losers in Nifty basket
ITC, LTIMindtree, PowerGrid and RIL are among the top losers, down around 2 per cent in the Nifty basket. On the other hand, Adani Ports, Titan, Adani Enterprises and Bajaj Auto are among the top gainers, trading with gains of around 1-4 per cent.
Source: NSE
Share Market Today LIVE | HDFC Bank, ICICI Bank, Kotak Bank come in the way of Nifty Bank halting 5-day losing streak
Banking stocks remain a mixed bag on Thursday, a day after Fitch said Indian lender's operating environment has grown stronger with the easing of the risks associated with the COVID pandemic, but also flagged certain structural issues in the sector, such as lengthy legal processes. The agency also highlighted that the bad bank, incorporated in July 2021, has not yet played a meaningful role.
In afternoon deals, Punjab National Bank, Bank of Baroda and Axis Bank shares held on firmly to the green with gains of one per cent each, and the SBI stock edged 0.2 per cent higher. On the other hand, stocks such as Kotak Mahindra Bank, ICICI Bank and HDFC Bank struggled below the flatline, with losses of around half a per cent each. Read more
Share Market Today LIVE | This small-cap stock hits record high in fag-end of trade; here is why
Shares of HP Adhesives hit an all-time high of Rs 535.05 apiece on the BSE on Thursday after the company announced its board would consider a stock split on September 4. The stock rallied as much as 6.37 per cent to scale the record peak mark. Read more
Share Market Today LIVE | Concord Biotech shares to debut on Friday
Global Biotechnology Company, Concord Biotech, is set to list its initial public offering (IPO) on Friday, August 18, 2023) on the BSE and the NSE. Concord Biotech, which manufactures Active Pharmaceutical Ingredients (API) through fermentation and semi-synthetic processes and finished formulations, has an issue size of Rs 1,551 crore. The price band for the share is Rs 705 to Rs 741. The IPO is a complete offer for sale where 2.09 crore shares are up for grabs. Read more
Share Market Tips LIVE | Buy Sona BLW, Nelco shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying Sona BLW Precision shares for a target of Rs 595 with a stop loss at Rs 555. Besides, he recommends buying Nelco shares for a target of Rs 830 with a stop loss at Rs 775.
Share Market Today LIVE | Cipla shares edge lower after FDA temporarily suspends licence for Patalganga manufacturing facility in Maharashtra
Pharmaceutical company Cipla shares edge lower after the company disclosed that the licence for its Patalganga manufacturing plant in Raigad district of Maharashtra has been temporarily suspended by authorities. The counter trades at Rs 1,234.45, down Rs 7.7 or 0.62 per cent on BSE.
In a filing to the stock exchanges on Wednesday, the pharmaceutical company said that its Food and Drug Administration (FDA) license was suspended for 10 days after the Konkan division of the state Food and Drug Administration found that the site was not conforming to good manufacturing practices under the Drugs and Cosmetics Act 1940. Read more
Share Market Today LIVE | Escorts Kubota, Lupin, Cochin Shipyard, other stocks hit 52-week highs
As many as 26 stocks in the BSE 500 basket — the broadest index on the bourse — reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) AJANTPHARM 1,771.25 1,804.70 1,804.00 (16 Aug 2023) 3,450.00 (12 Mar 2015) AMBER 2,793.20 2,845.45 2,633.30 (16 Aug 2023) 4,023.65 (02 May 2022) APARINDS 4,398.20 4,451.60 4,336.15 (16 Aug 2023) 4,451.60 (17 Aug 2023) BSOFT 467.1 469 455.35 (09 Aug 2023) 740.00 (02 Jan 2007) CGPOWER 414 425 424.95 (19 Jul 2023) 3,000.00 (31 Mar 1992) COCHINSHIP 882.1 904.4 822.00 (16 Aug 2023) 904.40 (17 Aug 2023) DATAPATTNS 2,230.00 2,266.75 2,250.75 (13 Jul 2023) 2,266.75 (17 Aug 2023) ESABINDIA 5,167.90 5,195.00 5,125.00 (16 Aug 2023) 5,195.00 (17 Aug 2023) ESCORTS 2,789.15 2,799.00 2,713.85 (16 Aug 2023) 2,799.00 (17 Aug 2023) HUDCO 70.75 71.75 70.30 (08 Aug 2023) 102.35 (14 Jul 2017) IDFCFIRSTB 89.1 89.99 89.50 (01 Aug 2023) 89.99 (17 Aug 2023) JSWENERGY 356.85 370.9 370.00 (16 Aug 2023) 408.70 (14 Oct 2021) JYOTHYLAB 324.5 338.55 332.00 (04 Aug 2023) 964.40 (02 Jan 2008) KALYANKJIL 224.95 228.5 225.20 (16 Aug 2023) 228.50 (17 Aug 2023) KSB 2,731.55 2,764.25 2,762.15 (03 Aug 2023) 2,764.25 (17 Aug 2023) LATENTVIEW 429.4 433.8 422.00 (12 Sep 2022) 755.00 (26 Nov 2021) LUPIN 1,095.30 1,143.70 1,115.40 (16 Aug 2023) 2,127.00 (06 Oct 2015) MANAPPURAM 151.2 152.3 149.75 (16 Aug 2023) 839.90 (21 Apr 2010) OIL 285.9 291.25 286.90 (16 Aug 2023) 1,635.00 (15 Sep 2010) POLYCAB 4,806.20 4,911.30 4,875.25 (01 Aug 2023) 4,911.30 (17 Aug 2023) PRAJIND 482.6 494.9 494.80 (10 Aug 2023) 1,103.80 (16 Aug 2005) RECLTD 233.6 234.2 230.70 (11 Aug 2023) 409.50 (11 Oct 2010) SUVENPHAR 520.95 534.55 526.60 (16 Aug 2023) 825.00 (18 Sep 2020) TRENT 1,972.60 1,984.80 1,966.50 (16 Aug 2023) 2,442.40 (07 Sep 2016) UNOMINDA 636.5 660.3 624.55 (16 Aug 2023) 1,648.00 (08 Sep 2016) VBL 922.75 934.5 903.40 (16 Aug 2023) 1,747.15 (26 May 2023) Share Market Today LIVE | Piramal Pharma rights issue gets fully subscribed
Garden Reach Shipbuilders, Cochin Shipyard: Shipping stocks jump up to 39% in one week; what's driving the rally?
Shipping stocks continue their dream run. Cochin Shipyard is up over 11 per cent, and Shipping Corporation of India and Garden Reach Shipbuilders more than six per cent each.
What's driving the gains in these stocks?
According to Zee Business Research, the government has cleared projects worth Rs 19,000 crore for shipping companies in which five fleet support ships will be manufactured and one fleet support ship will be delivered in four years. This is one of the reasons behind the rally.
Share Market Today LIVE | Lupin shares hit fresh 52-week high on the back of drug launch and USFDA approval
Shares of Lupin Ltd hit a new 52-week high on Thursday on the back of the launch of its generic drug to combat Chronic Obstructive Pulmonary Disease (COPD) as well as receiving approval from the United States Food and Drug Administration for another product. The company’s share price hit a new 52-week high of Rs 1,143.7 apiece on the BSE. Shares trade at Rs 1,095.65, down by 1.55 per cent on BSE. Read more
Share Market Today LIVE | GMDC board to discuss higher dividend for FY2022-23
The board of Gujarat Mineral Development Corporation Limited, NSE: GMDCLTD is scheduled today, August 17 for consideration of upward revision in the rate of dividend recommended for the FY 2022-23.
Share Market Today LIVE | IRFC shares slip nearly 6% as government plans to sell part of its holdings in PSU
Shares of Indian Railway Finance Corp (IRFC) slip as much as 5.6 per cent to Rs 48.25 apiece on Thursday (August 17), a day after the government announced it was planning to sell over 11 per cent stake in the state-owned company via an offer for sale (OFS) in the current fiscal (FY24).
The government currently holds an 86.36 per cent stake in the financing arm of the Indian Railways. According to a PTI report, a government official said an inter-ministerial group (IMG) comprising senior officers from the Department of Investment and Public Asset Management (DIPAM) and the Railways Ministry had started consultations to decide on the quantum of stake dilution. Read more
Nifty Today LIVE | ITC, RIL, TCS among top drags
ITC, RIL, TCS, L&T and ICICI Bank are among the top drags in the Nifty baskets at this hour. On the contrary, Titan, Axis Bank, Adani Ports and State Bank of India are the top movers.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE | JBM Auto, Olectra Greentech, Tata Motors in focus as Cabinet approves e-Bus Sewa scheme; check top picks
Shares of electric bus manufacturers are in focus on Thursday (August 17), a day after the Union Cabinet cleared the PM e-Bus Sewa scheme, under which 10,000 new electric buses will be provided to 100 cities across the country at a cost of Rs 57,613 crore. The objective of this scheme is to improve mobility in tier II and tier III cities.
JBM Auto was nearly 2 per cent higher at Rs 1,469.75 on the BSE while Olectra Greentech was up over 2.57 per cent at Rs 1,255.10. Ashok Leyland was trading over 0.60 per cent higher at Rs 189.70. Tata Motors, on the other hand, was flat with a negative bias at Rs 618.05 on the BSE while Eicher Motors was trading over 0.60 per cent lower at Rs 3,305.25 on the BSE. Read more
Stocks to buy: HDFC Bank, TCS, M&M, NTPC among analysts' top picks today
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Vikas Sethi, Himanshu Gupta, Kunal Saraogi, Sumeet Bagadia and Sandeep Wagle 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 NTPC, TCS, HDFC Bank, M&M and Escorts Kubota. Read more
Share Market Today LIVE | Vodafone Idea delays spectrum auction installment; shares rise
Vodafone Idea trades 0.64 higher at Rs 7.87 on NSE after a report on Thursday said that the company had sought 30 days more time to pay around Rs 1,680 crore for the spectrum auction installment. The share is up following a report from ICRA on Wednesday that projected modest revenue growth for the telecom industry in FY24. Read more
Share Market Today LIVE | JSW Energy shares halt 5-day rally after block deal
Power generator company JSW Energy's shares suffers sharp losses on Thursday, halting a five-day winning run after its promoter JSW Investments trimmed its stake in the firm for Rs 717.6 crore through large deals. JSW Energy shares slump by as much as Rs 14 — or 3.8 per cent — to Rs 354.1 apiece on BSE.
JSW Investments sold a total of 2.1 crore shares — or 1.28 per cent of the company's equity — through the transaction. GQG Partners, Washington State Investment Board, AustralianSuper, Reliance Trust Institutional Retirement Trust Series Twelve, Witan Investment Trust Plc and Alliance Trust Plc were among the buyers. Read more
Traders' Diary | Buy, sell or hold strategy on TCS, SBI, PVR-INOX, Lupin, UBL, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on 20 stocks that investors and traders can track on Thursday, August 17. Check out which stocks are on analysts Ashish Chaturvedi and Arman Nahar's radar, and what they recommend in cash and derivative segments.
Here's the complete list of investment and trading ideas for the day:
Arman Nahar
- Buy DCW shares in the cash segment for a target price of Rs 51.5 with a stop loss at Rs 48.7
- Buy PVR-INOX futures for a target of Rs 1,765 with a stop loss at Rs 1,695
- Buy the Rs 565 call option of SBI at Rs 10.35 for a target of Rs 14.5 with a stop loss at Rs 8.5
- Technical pick: Buy Godrej Consumer shares for a target of Rs 1,075 with a stop loss at Rs 1,010
- Fundamental pick: Buy Tilaknagar Industries shares for a one-year target of Rs 255
- Investment idea: Buy CDSL shares for a one-year target of Rs 1,400
- News-based pick: Buy Aurobindo Pharma shares for a target of Rs 880 with a stop loss at Rs 865. Read more
Anil Singhvi Market Strategy | Important levels to track in Nifty, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index coming in at 19,375-19,425 levels and a strong buy zone at 19,250-19,325 levels on Thursday, August 17. For the Nifty Bank, he expects support at 43,600-437,75 levels and the next big base at 43,000.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Share Market Today LIVE | Nifty drops below 19,450, Sensex slips nearly 50 pts
Nifty 50
Nifty trades below 19,450, down by 0.12 per cent in opening deals.
Source: NSESensex
Sensex trades at 65,512, 27 points lower in opening deals.
Source: BSE
Stocks to Watch | IRCTC, Bharti Airtel, Bajaj Finance among stocks to track
ZeeBiz takes you through the shares that are expected to be in the limelight on Thursday, August 17, 2023
Telecom stocks in focus
An ICRA report on Wednesday projected moderate growth for telecom companies in this financial year. The report said that the industry is expected to post moderate revenue growth of 7-9 per cent in the financial year 24, because of muted average revenue per user (ARPU) expansion in the absence of tariff hikes in the near future. The report further said that the industry has been "upfronting" 5G capex (capital expenditure), and the agency foresees sectoral capex at around Rs 70,000 crore for FY2024. After the report, shares of telecom firms such as Airtel, Vodafone Idea, and Tata Communications may take a hit on Thursday.
Railways stocks in focus
In major developments related to Indian Railways, the government is planning to sell a part of its holding in Indian Railway Finance Corp (IRFC) through an offer for sale (OFS) in the current fiscal, an official said on Wednesday. The government, at present, holds an 86.36 per cent stake in the financing arm of the Indian Railways. Vaishnaw also said on Wednesday that the Centre had approved seven multi-track projects for Indian Railways with an outlay of Rs 32,500 crore. With these developments, shares of major Railway companies such as IRCTC, Rail Vikas Nigam, Railtel and Ircon International can be in focus on Thursday. Read more
Dividend Stocks | Vedant Fashions, Bharat Electronics, 10 other scrips to trade ex-date today
A total of 12 stocks will trade ex-dividend on Thursday, August 17, according to the NSE website. The list includes IG Petrochemicals, Vedant Fashions, Bharat Electronics and other stocks.
IG Petrochemicals dividend
IG Petrochemicals has announced a dividend of Rs 10 per equity share with a face value of Rs 10.
Heranba Industries dividend
Heranba Industries has announced a dividend of Rs 1.25 per equity share with a face value of Rs 10.
Relaxo Footwears dividend
Relaxo Footwears has announced a dividend of Rs 2.5 per equity share with a face value of Re 1.
Bharat Electronics dividend
Bharat Electronics has announced a dividend of Re 0.6 per equity share with a face value of Re 1.
The South Indian Bank dividend
The South Indian Bank has announced a dividend of Re 0.3 per equity share with a face value of Re 1. Read more
Image: Pixabay/ Representational image Share Market Today LIVE | GIFT Nifty futures indicate a sluggish start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 69.5 points or 0.36 per cent at 19,396 ahead of the opening bell on Dalal Street.
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