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Stock Market Highlights: Sensex, Nifty end flat, broader indices mixed ahead of Powell's speech

Stock Market Highlights on Friday, August 23: At closing bell, the BSE Sensex was at 81,086.21, up by 33.02 points. Nifty 50 was at 24,823.15, up marginally by 11.65 points

SI Reporter New Delhi
MARKETS SHORT OF BREADTH,  YET BENCHMARKS' PULSE QUICKENS
ILLUSTRATION: AJAY MOHANTY

2 min read Last Updated : Aug 23 2024 | 4:22 PM IST

Key Events

3:58 PM

Tech View: 'Nifty is also trading close to 78.6% retracement mark 24830 which shall restrict further upside'

Nifty opened on a flat note and consolidated during the day to close with gains of ~12 points. On the daily charts, we can observe that the Nifty has closed positive for the seventh consecutive trading session. The upmove appears a bit overstretched as it has been rising higher without any meaningful pullback towards the hourly moving averages. The hourly momentum indicator has a negative crossover along with a negative divergence. Thus, can be an intraday dip and hence caution on longs is advised. The Nifty is also trading close to the 78.6 per cent retracement mark 24830 which shall restrict further upside. Thus, the overall trend remains sideways, and the range of consolidation is 24200 – 25000.

Views by: Jatin Gedia, technical research analyst at Sharekhan by BNP Paribas

3:50 PM

'Investors are exercising caution and awaiting Powell’s signals for more insights on the interest rate path'

Ahead of the FED chair Powell’s speech, the Indian indices oscillated around the flat trajectory and mixed global market sentiments further catalysed this scenario. Meanwhile, investors are exercising caution and awaiting Powell’s signals for more insights on the interest rate path. Most of the sectoral indices remained in red; in contrast, the auto sector excelled as the industry is preparing for festive season demand with multiple launches.

Views by: Vinod Nair, head of research, Geojit Financial Services
 

3:39 PM

Sector-Check: All but Auto index closed in red zone

Nifty Auto index was the only gainer, up over 1 per cent.

3:37 PM

Broader markets settle in negative territory

Nifty SmallCap closed 0.11 per cent lower while MidCap slipped 0.49 per cent.

3:36 PM

Index heatmap check

Tata Motors was the top gainer while Tech Mahindra was the top loser on BSE. 

3:34 PM

Stock Market Closing Bell: Nifty50 settles with marginal gains

Nifty50 closes with a gain of 22.25 points or 0.09 per cent at 24,833.75 levels.
 

3:33 PM

Stock Market Closing Bell: Sensex closes marginally higher

Sensex sttles 33.02 points or 0.04 per cent higher at 81,086.21 levels.

3:27 PM

Stock Market LIVE Updates: Tata Tech investor Alpha TC sells entire stake in co. for Rs 1,218.5 crore

Stock Market LIVE Updates: Tata Technologies investor Alpha TC Holdings today offloaded its entire stake in the company for a total transaction value of Rs 1,218.5 crore. 
The investor sold around 75 lakh shares in the company at an average price of Rs 1,019. crore in a block deal on Friday according to reports.

3:15 PM

Stock Market LIVE Updates: DCM Shriram COO Girish Yajnik resigns due to personal reasons

Stock Market LIVE Updates: DCM Shriram Industries today announced that the company's chief operating officer Girish Yajnik has resigned from the services of the company, citing personal reasons.
 
The company, in an exchange filing, said, "We hereby inform that Mr. Girish Yajnik, Chief Operating Officer (Business Group Chemicals), a Senior Management Personnel of the company, has resigned from the services of the company for personal reasons and his resignation has been accepted effective from the close of office hours on August 23,2024".

3:03 PM

Stock Market LIVE Updates: Sensex, Nifty in the red amid cautious market mood

Stock Market LIVE Updates: At 3 PM, the BSE Sensex was trading at 80,992.94, down by 60.25 points, or 0.07 per cent, while the broader Nifty 50 was at 24,806, down 5.30 points, or 0.03 per cent. 

2:55 PM

Stock Market LIVE Updates: DroneAcharya bags order to train 150 people in drone tech; shares rise nearly 4%

Stock Market LIVE Updates: DroneAcharya Aerial Innovations today announced that it has received a significant service order from the Indian Institute of Technology (IIT) Ropar.

This order entails training 150 individuals in drone technology as part of the Punjab Skill Development Mission (PSDM), the company said in an exchange filing.

The company added that the deal is valued at Rs 50.44 lakh

Under this collaboration, DroneAcharya will provide specialized drone pilot training to the selected individuals.

2:39 PM

Stock Market LIVE Updates: GPT Infra bags Rs 13 crore deal to supply sleeper coaches to Eastern Railway

Stock Market LIVE Updates: GPT Infraprojects today announced that it has received a contract worth Rs 13 crore from Eastern Railway, for the "Manufacture and supply of special sleeper to Eastern Railway."

The company's outstanding order book now stands at Rs 3,682 crore, with the total order inflow for fiscal 2025 standing at Rs 825 crore. 

2:29 PM

Stock Market LIVE Updates: Sun Pharma launches tedizolid phosphate tablets in India for acute skin infections

Stock Market LIVE Updates: Sun Pharma today announced that it has launched tedizolid phosphate tablets (200 mg) in India under the brand name 'Starizo'. 

Starizo is a novel, oxazolidinone-class antibacterial medicine, used to treat Acute Bacterial Skin and Skin Structure Infection (ABSSSI).

The comany said that it has obtained the development, manufacturing and commercialisation rights from MSD, for Tedizolid Phosphate in India.

2:20 PM

Stock Market LIVE Updates: Jindal Saw board approves 1:2 stock split; shares up marginally

Stock Market LIVE Updates: Jindal Saw today announced that its board of directors has approved a proposal to split the stocks of the company in a ratio of 1:2.

The company, in an exchange filing, said, the board of directors in their meeting held today approved the proposal for alteration in the equity share capital of the company by sub-division/split of existing equity shares with a face value of Rs. 2 each, fully paid up into equity shares with face value of Re. 1 each, fully paid up."
 

2:08 PM

Stock Market LIVE Updates: Bikaji Foods' board approves 55% stake buy in Ariba Foods for Rs 60 crore

Stock Market LIVE Updates: Bikaji Foods International today announced that its board of directors has approved the acquisition of a 55 per cent stake in Ariba Foods for a total consideration of Rs 60.5 crore. 
 
The company, in an exchange filing, said, "The Board of Directors of the Company at their meeting held on Friday, August 23, 2024, have considered and approved to make a strategic investment of ₹ 60,49,38,075 in Ariba Foods Private Limited for acquisition of 55% of total issued and paid-up equity share capital". 

The company, in an exchange filing, said that following the acquisition, Ariba Foods will become a subsidiary of the company. 
 

Stock Market Highlights, Friday, August 23: Indian benchmark indices Sensex and Nifty ended Friday's rangebound trading session slightly higher as investors awaited clues about possible interest rate cuts by the Federal Reserve in this year, from a scheduled speech by US Federal Reserve Jerome Powell at the ongoing Jackson Hole Economic Symposium in the US.

At closing bell, the BSE Sensex was at 81,086.21, up by 33.02 points, or 0.04 per cent, while the broader Nifty 50 was at 24,823.15, up marginally by 11.65 points, or 0.05 per cent. 

Tata Motors, Sun Pharma, Bharti Airtel, Bajaj Finserv, and ICICI bank were the top gainers on the BSE Sensex, while Tech Mahindra, HCLTech, Asian Paints, Titan, and Infosys, were the top drags. 13 of the 30 stocks on the BSE Sensex ended in the red. 

Similarly, on the broader Nifty50, Bajaj Auto, Coal India, Bharti Airtel, Tata Motors, and Sun Pharma were the top gainers, while LTIMindtree, Wipro, ONGC, Asian Paints, and Titan were the top drags. 

Meanwhile, Auto was the only sectoral gainer, closing higher by 1.12 per cent. 

In contrast, the Realty index shed 2.24 per cent, followed by the Media and and IT indices, that closed lower by around 1 per cent. 

Topics :MARKET LIVEMARKET WRAPMARKETS TODAYS&P BSE SensexNifty50BSE NSEIndian stock marketsstock marketsshare marketBuzzing stocks

First Published: Aug 23 2024 | 7:59 AM IST

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