Sensex, Nifty end flat post lackluster trade; Syrma soars 42%, Titan 3%

CLOSING BELL: It was a range-bound trade on the bourses on Friday as investors awaited US Fed chief Jerome Powell's address at the Jackson Hole Symposium later tonight

CLOSING BELL

Stock market highlights: It was a range-bound trade on the bourses on Friday as investors awaited US Fed chief Jerome Powell's address at the Jackson Hole Symposium later tonight. The S&P BSE Sensex traded between 58,723 and 59,321, and ended at 58,834, up 59 points or 0.1 per cent.

The NSE Nfty50, meanwhile, shut shop at 17,559, up 36 points or 0.21 per cent. It touched a high of 17,686 and a low of 17,519 on the NSE. In the broader markets, the Nifty MidCap 100 and the Nifty SmallCap 100 settled up to 0.7 per cent higher.

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Among sectors, the Nifty Metal index rose 1.7 per cent, followed by the Nifty PSU Bank index, up 1 per cent. On the flipside, the Nifty Private bank index fell 0.3 per cent.

New listing :: Syrma SGS Technology
Shares of Syrma SGS Technologies (Syrma) soared 42.2 per cent to Rs 313 against its issue price of Rs 220 per share on debut on Friday. The stock of the industrial electronics company listed at Rs 262, a 19 per cent premium when compared to its issue price on the BSE. On NSE, the stock started trading at Rs 260. READ MORE

IPO market :: DreamFolks Services
The Rs 562-crore IPO of DreamFolks reacived bumper response from investors on the last day of the issue. The offer was subscribed nearly 53 times till 3:30 PM with retail investors' quota at 42x subscription, NII at 37.5 times, and QIB at 64 times.  

4:03 PM

Expert view: Investors remained cautious ahead of US Fed chair's remarks

"Investors' lack of confidence and caution in anticipation of the Fed chair's remarks led to a significant sell-off towards the close of the session. Western markets are trading with cuts as they await clues on further policy actions by the Fed to tame elevated inflation. This is expected to impact demand. On the sectoral front, metals and PSBs led the rally, while IT turned green after continued selling pressure."

 

- Vinod Nair, Head of Research at Geojit Financial Services
 

4:02 PM

Tech view: Nifty may remain rangebount, with resistance at 17,700

"The benchmark index remained volatile during the day. On the higher end, it failed to move beyond 17,700. The downside on the other hand were limited to 17,500. On the daily chart, a small-bodied candle with shadows on either side has formed, suggesting an indecisiveness. The trend is likely to remain sideways over the near term till Nifty remains in the range. Support on the lower end is visible at 17,500/ 17,400. On the higher end, resistance is visible at 17,700."

 

- Rupak De, Senior Technical Analyst at LKP Securities
 

4:02 PM

Primary Market Update:: DreamFolks Services IPO subscribed over 56.50 so far on Day 3

3:55 PM

Syrma SGS Technology dazzles on debut, stock soars over 42% against issue price

The stock ended at Rs 313 as against the issue price of Rs 220. Analyst at Swastika Investmart attributed the good listing to positive market sentiment, outstanding prospects, and a good response from the investors. READ MORE

3:54 PM

NTPC surged 3%; company approves Rs 11,844 cr investment for Talcher Thermal plant

According to a release issued by the company to the BSE, its board accorded investment approval for Talcher Thermal Power Project, Stage-III (2x660 MW) at an appraised current estimated cost of Rs 11,843.75 crore.

3:51 PM

Nelco hits 10% upper limit on pact with Intelsat to offer inflight connectivity

Shares of Nelco were locked at the 10 per cent upper circuit, at Rs 856.65 on the BSE on Friday, after the company partnered with Intelsat to offer inflight connectivity in India. READ MORE

 

3:48 PM

Surya Roshni hit 20% upper circuit on healthy business outlook

As the company's major sales comes from rural, semi urban & exports; Going forward, the management expects home appliances and pipe segments to perform well back by various government initiatives. READ MORE

3:46 PM

Bank Nifty view: Historically, September has seen 5% move on either side

"The Bank Nifty index continued to face stiff selling pressure around 39,500 level where fresh call writing has been witnessed. The index ahead of the global economic events is stuck in a broad range between 38,500-39,500 levels and a break on either side will give trending moves. The traders should trade with strict risk management as September has been the series where the index has seen more than 5 per cent move."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities 
 

3:44 PM

Among sectoral losers; Nifty Media and Realty were the major laggards

3:42 PM

Sectorally, Nifty Metal index surged 1.8%; Consumer Durables, PSU Bank were other top movers

3:41 PM

Broader markets move in tandem with benchmark Nifty, ends marginally up; India VIX falls 7%

3:39 PM

Nifty 50:: Top FIVE gainers and losers on Friday

3:37 PM

Sensex 30 Heatmap:: 23 Losers v/s 7 Gainers; NTPC, Titan shine; IndusInd Bank slips

3:36 PM

NSE Nifty 50 added 36 points to 17,559

3:34 PM

Closing Bell:: S&P BSE Sensex ends 59 points higher at 58,775; sheds 812 points for the week