Nifty rallied above 24,500 after days of consolidating within a 400-500 point range. In the near term, Nifty may continue consolidating within the 24,300-24,550 range. Only a decisive move above 24,550 could trigger a directional up move in the index. A buy-on-dips strategy may be more effective unless Nifty decisively falls below 24,300.

Views by: Rupak De, Senior Technical Analyst, LKP Securities.

3:46 PM

Comment :: Why are FIIs net sellers for Indian stocks?

The stability of the JPY has been instrumental in driving a global market recovery. Besides that, the strong US retail sales and a decline in weekly jobless claims have helped alleviate fears of a US recession. Further, the market sentiment has improved due to a decrease in US CPI inflation.

On the backdrop of these, the Indian IT firms exhibited strong buying interest. Domestically, the Indian CPI inflation rate has fallen below the estimate, signalling optimism. However, challenges such as a drop in WPI inflation, weak IIP, and lukewarm Q1 corporate earnings suggest that market gains may be limited, which is reflected by FIIs maintaining a net seller position.

Views by: Vinod Nair, Head of Research, Geojit Financial Services

3:42 PM

Broader markets :: Mid, SmallCap indices add over 1.5% each

3:41 PM

Sectoral trends :: IT index surges 3%, Auto, Realty 2%

3:39 PM

Sensex Heatmap :: 29 of the 30 index stocks settle higher

3:37 PM

Stock Market Closing Bell :: Nifty ends atop 24,500

3:36 PM

Stock Market Closing Bell :: Sensex ends 1,331 pts higher

3:27 PM

Adani-led Ambuja Cements completes acquisition of Penna Cement Industries

With this acquisition, Penna Cement has officially become a subsidiary of Ambuja Cements, bolstering its capacity and market presence, particularly in southern India and marking a significant milestone in Adani Group’s strategic expansion in the cement sector. READ MORE

3:16 PM

Stock Market Update :: Benchmarks at day's high, Sensex rallies nearly 1,400 pts

3:14 PM

IPO calendar next week: 4 IPOs to open; Saraswati Saree to debut; Full List

Saraswati Saree Depot IPO listing: Shares of Saraswati Saree Depot will debut on the bourses - BSE and NSE - on Tuesday, August 20, 2024. Ahead of its listing, the shares of Saraswati Saree Depot were commanding a grey market premium (GMP) of around Rs 48, which translates to approximately 30 per cent over the upper band of the IPO price. If the GMP trend holds, the shares of Saraswati Saree Depot are expected to list at approximately Rs 208 (IPO GMP + Upper band of the issue price) on the exchanges, yielding a return of Rs 48 or 30 per cent apiece to the investors. READ MORE

3:00 PM

Suprajit Engg stock zooms 19% after board okays buyback at Rs 750 per share

The company's board announced a share buyback of up to 1.5 million shares at price of Rs 750 per share via tender offer. READ MORE

2:50 PM

Coromandel International hits all time high on resuming ops at Chennai plant

The uptick in the share price came after the company said that it has been granted permission to resume operations at its Chennai plant. READ MORE

2:38 PM

Pitti Engineering shares hit new high after stellar Q1; up 89% in 6 months

Pitti Engineering reported a 47 per cent increase in net profit for the June quarter, rising to Rs 21 crore from Rs 14 crore in the same period last year, driven by strong demand. Revenue grew by 33 per cent to Rs 387 crore, up from Rs 291 crore. Earnings before interest tax depreciation and amortisation (Ebitda) also increased by 33 per cent to Rs 56 crore, compared to Rs 42 crore. READ MORE

2:28 PM

Yes Bank appoints veteran banker Sumit Bali to head retail business

Indian private lender Yes Bank has appointed veteran banker Sumit Bali to head its retail business and collections, three sources directly familiar with the matter said on Friday. READ MORE

2:18 PM

Glenmark Pharma hits lifetime high on steady Q1 show; Ebitda soars 34% YoY

Glenmark Pharmaceuticals stock surged up to 5.68 per cent, hitting its all time high at Rs 1,576 per share on the NSE in Friday’s intraday trade. This came after the company on Wednesday reported its quarterly earnings for the first April-June of the financial year 2024-25 (Q1FY25). READ MORE

Stock Markets Highlights today, Friday, August 16, 2024: Equity benchmark indices, BSE Sensex and NSE Nifty50, ended the week's last trading session with gains of over 1 per cent each, led by buying across sectors. The Sensex added 1330.96 points, or 1.68 per cent, to close at 80,436.84, while the Nifty50 advanced 397.40 points, or 1.65 per cent, to 24,541.15.

The day ended in favor of bulls as 47 out of 50 constituents of the Nifty50 index ended higher, led by Wipro, Tech Mahindra, Grasim, Mahindra & Mahindra, and Tata Motors with gains of up to 4.23 per cent.

In the BSE space, 29 out of 30 constituents of the Sensex ended higher, with gains led by Tech Mahindra, Mahindra & Mahindra, Tata Motors, UltraTech Cement, and TCS of up to 3.94 per cent.

The fear index, India VIX, ended lower at 14.40, down 6.18 per cent.

Midcap and Smallcap shares led the gains among the broader indices, with the Nifty Midcap 100 index, and Nifty Smallcap 100 index, ending higher by 1.96 per cent and 1.93 per cent, respectively.

All the sectoral indices settled with gains, led by Nifty IT, Auto, Media, and Realty indices, which ended over 2 per cent each.

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Topics :MARKET WRAP MARKET LIVE stock market trading stock market listing listing IPO GMP SME IPOs IPOs Gift Nifty nikkei Indian stock exchanges Indian stock markets NSE Nifty50 benchmark index Nifty50 S&P BSE Sensex MARKETS LIVE BSE stocks

First Published: Aug 16 2024 | 7:12 AM IST

Stock Market Highlights, Aug 16: Sensex climbs 1,331 pts, Nifty ends near 24,550; IT, Banks shine

Stock Market Highlights today, Friday: All the sectoral indices settled with gains, led by Nifty IT, Auto, Media, and Realty indices, which ended over 2 per cent each

Key Events

Tech View :: 'Nifty may consolidate within 24,300-24,550 range in near-term'