CLOSING BELL: The broad-based sell-off was led by financials including IndusInd Bank (down 4 per cent), Bajaj twins, SBI, ICICI Bank, Kotak Bank, and HDFC duo

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	<b>CLOSING BELL<br />
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	Stock market highlights:&nbsp;</b>Equity markets cracked, while bond yields on the 10-year government securities firmed up, in the second half of the trading session on Friday as growth concerns weighed on investor sentiment. The S&P BSE Sensex crashed 937 points from the day&#39;s high and hit a low of 59,474 during the day. It, eventually, closed at 59,646, down 652 points or 1.08 per cent.</div>
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	The NSE Nifty50, meanwhile, touched an intra-day low of 17,710 before settling 198 points, or 1.1 per cent, lower at 17,758.</div>
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	The broad-based sell-off was led by financials including IndusInd Bank (down 4 per cent), Bajaj twins, SBI, ICICI Bank, Kotak Bank, and HDFC duo. That apart, Tata Steel, NTPC, HUL, Maruti Suzuki, RIL, and M&M were the other heavyweight losers. The only Sensex gainers were L&T, Infosys, and TCS.</div>
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	Sectorally, the BSE Metal index shed 1.8 per cent, the BSE Bankex index 1.7 per cent, and the BSE PSU index 1.6 per cent</div>
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	In the broader market, the BSE MidCap and SmallCap indices fell 1.27 per cent and 0.93 per cent, respectively.&nbsp;</div>
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	<strong>Sensex @ 65,000?</strong></div>
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	Domestic equity markets have staged a dramatic turnaround over the last two months. The frontline indices &ndash; the S&P BSE Sensex and Nifty &ndash; have rallied over 17 per cent each from their respective lows in June. Thus far in August, they have surged around 6 per cent each. Technically, both frontline indices &ndash; the BSE Sensex and Nifty 50 &ndash; have crossed their respective 61.80 per cent Fibonnaci retracement levels. Typically, surpassing 50 per cent is considered as a bullish reversal. <a href="https://www.business-standard.com/article/markets/sensex-on-track-to-hit-65-000-in-the-medium-term-charts-show-122081900372_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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	<strong>Global cues</strong></div>
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	European markets were lower Friday morning, tracking global uncertainty as investors chart the course for monetary policy and continue to digest corporate earnings reports. The pan-European STOXX 600 index was down 0.33 per cent, while DAX and CAC40 fell up to 0.7 per cent.&nbsp;</div>
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	On Wall Street, futures linked to main indices were down up to 0.8 per cent. Earlier in Asia, Nikkei ended flat with negative bias, Kospi declined 0.6 per cent, but Hang Seng rose 0.05 per cent.&nbsp;</div>
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Sensex drops 652pts, Nifty near 17,750 as growth concerns weigh; banks sink

Business Standard

Sensex drops 652pts, Nifty near 17,750 as growth concerns weigh; banks sink | News on Markets - Business Standard

Power Mech hits new high on order win from Adani Group; soars 52% in 1 mth

The company said it has bagged an order worth Rs 6,163.2 crore for five flue gas desulphurization [FGD] projects from the Adani Group. <a href="https://www.business-standard.com/article/markets/power-mech-hits-new-high-on-fgd-projects-win-from-adani-up-52-in-1-month-122081900345_1.html?1660890368" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Gas pipeline" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-05/15/full/1652590101-7045.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Gas pipeline" width="620" /></div>
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Gold imports up 6.4% to $13 billion in April-July due to 'healthy demand'

India&#39;s gold imports, which have a bearing on the country&#39;s Current Account Deficit, rose 6.4% to $12.9 billion during April-July this fiscal due to healthy demand, according to government data. <a href="https://www.business-standard.com/article/markets/gold-imports-up-6-4-to-13-billion-in-april-july-due-to-healthy-demand-122081900311_1.html?1660889893" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Gold" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-07/21/full/1658374399-7425.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Gold" width="650" /></div>
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MARKET CHECK: Sensex at day's low, drops over 500 points

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Paytm CEO Vijay Shekhar Sharma to face crucial test of investor confidence

The billionaire founder of Paytm faces a crucial test of investor confidence Friday, when shareholders will decide whether they want him at the helm. <a href="https://www.business-standard.com/article/companies/paytm-ceo-vijay-shekhar-sharma-to-face-crucial-test-of-investor-confidence-122081900313_1.html?1660889415" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Vijay Shekhar Sharma, Paytm" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-11/18/full/1637251290-1559.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Vijay Shekhar Sharma, Paytm" width="620" /></div>
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IT stocks resilient in a weak market; Nifty IT up 1%

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IRCTC gains 4 per cent on data monetisation plan; analysts see more upside

The Indian Railways ticketing arm aims to raise up to Rs 1,000 crore through this exercise; The stock is now within striking distance of its 200-DMA. <a href="https://www.business-standard.com/article/markets/irctc-gains-4-per-cent-on-data-monetisation-plan-analysts-see-more-upside-122081900296_1.html?1660888206" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Indian Railways deemed to cancel up to 170 trains on August 11." class="imgCont" height="478" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/11/full/1660193829-8368.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Indian Railways" width="850" /></div>
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Tata Chemicals hits new high; surges 38% in one month on healthy outlook

An anticipated reduction in imports and the ongoing programs on driving cost reductions and efficiencies will likely yield benefits in margins. <a href="https://www.business-standard.com/article/markets/tata-chemicals-hits-new-high-surges-38-in-one-month-on-healthy-outlook-122081900279_1.html?1660886574" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Tata" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-05/18/full/1652839023-7136.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Tata" width="620" /></div>
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Future Group stocks tumble after lenders plan to sell loans worth Rs 18,850 crore

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Should there be charges on UPI fund transfers?

Will you be comfortable paying for your daily UPI transactions? This is one of the many questions that the RBI has asked from the public as it wants to help make this digital ecosystem sustainable.<br />
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PSU Banks under pressure: Indian Bank, Canara Bank shed 1%

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Adani Group stocks perk up in trade, surge over 4%

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Will sparkle return to jewellery stocks post Covid blues?

The onset of festive season is sparkling brightly over the jewellery sector. With gold prices correcting over 12 per cent from March peak, analysts foresee more upside in related stocks down the road. <a href="https://www.business-standard.com/the-morning-show/video/markets-insights/will-sparkle-return-to-jewellery-stocks-post-covid-blues-1391.htm" target="_blank"><strong>WATCH VIDEO</strong></a><br />
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Paint stocks volatile after brent firms up to $96 per barrel

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IT stocks sizzle in trade: Coforge, Tech M surge up to 3%

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