F&O expiry: Sensex ends choppy trade on flat note, gains 6% in Aug series

Sectorally, the metals pack bled the most, down 1.3 per cent, followed by the PSB Index (down 0.8 per cent)

2:47 PM

Bitcoin's 60% rally from July lows may be running out of steam

The largest cryptocurrency fell as much as 4.4% Thursday to $46,588, with other tokens including Ether retreating along with the Bloomberg Galaxy Crypto Index. The drop pared Bitcoin’s rally since a July low to some 60%.

 

John Bollinger, inventor of Bollinger bands, in a tweet suggested taking some profits or hedging. Katie Stockton at Fairlead Strategies cited DeMark market-timing indicators as flagging about two weeks of “sideways-to-lower” prices. READ MORE

2:33 PM

Global stocks set for a correction as rally fizzles, say analysts

The blistering rally in global stocks is nearly over, any further gains will be limited and a correction is likely by the end of the year, a Reuters poll of analysts found. Global stocks have recovered by more than 90% from the troughs hit during the first wave of the COVID-19 pandemic, according to the MSCI world equity index that tracks shares in 50 countries. READ MORE

2:23 PM

KNR Constructions rallies 6% on dilution of entire stake in subsidiaries

KNRCL has entered into a Share Purchase Agreement (SPA) with Cube for the above mentioned three special purpose vehicles (SPV's). The company, in an investor presentation, said that in a phased manner it will sell to Cube its entire shareholding in the SPV. READ MORE

2:09 PM

Top Nifty gainers & losers at this hour

1:48 PM

Balrampur Chini, Dhampur Sugar: FPR could push stocks near breakout levels

Sugar stocks were in focus on Thursday, a day after the government hiked the minimum price that mills have to pay to sugarcane growers, also known as the Fair and Remunerative Price (FRP), by Rs 5 per quintal to Rs 290 a quintal for 2021-22 (October-September) sugar season. However, the government has ruled out any immediate commensurate increase in the sale price of sugar at least for now. READ MORE

1:37 PM

IPO ALERT :: Vijaya Diagnostic Centre IPO to open on Sept 1

>> Price Band: Rs 522-531 per share

>> The IPO comprises of an offer for sale of up to 35,688,064 equity shares by the selling shareholders

>> The object of the offer are to (i) to carry out OFS (ii) achieve the benefits of listing the Equity Shares on the Stock Exchanges.

>> Company will not receive any proceeds from the Offer and all such proceeds (net of any Offer related expenses to be borne by the Selling Shareholders) will go to the Selling Shareholders.

1:32 PM

D-Mart m-cap tops Rs 2.5 trillion-mark; stock soars 1,200% over issue price

Avenue Supermarts, the owner of D-Mart chain of retail stores, added another feather to its cap when its market capitalisation (m-cap) crossed Rs 2.5 trillion-mark on the BSE on Thursday. The feat came after shares of the company hit fresh record peak in the intra-day deals. READ MORE

1:19 PM

KPMG to assist government in strategic divestment of IDBI Bank for Re 1

KPMG India has been appointed as the transaction adviser for strategic divestment of IDBI Bank, and the firm will assist the government in the sale for Re 1. About 7 firms, including KPMG, had bid to act as transaction advisor for IDBI Bank strategic divestment. These were Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, ICICI Securities, JM Financial Ltd, KPMG, RBSA Capital Advisors LLP and SBI Capital Markets. READ MORE 

1:07 PM

Indian banks will be able to withstand rising asset risks, says Moody's

The rating agency in a statement said that banks' improved profitability, capital and loss buffers will help them absorb anticipated loan losses and maintain credit strength. Also, the country's economic recovery and continued government support will prevent a sharp spike in problem loans. READ MORE

12:54 PM

SBI Balanced Advantage NFO gets Rs 12,000 cr, best ever among active funds

SBI Balanced Advantage Fund has received the highest ever collection seen in the active funds space in its new fund offer (NFO) which closed on Wednesday. Officials in the company stated that they have received Rs 12,000 crore and are expecting another Rs 1,000 crore as online applications will continue to come till midnight. READ MORE

12:41 PM

Over two-thirds of BSE500 stocks decline in August, shows data

Though the benchmark indices are hovering near all-time highs, over two-thirds, or 354, of the BSE500 stocks have posted negative returns in August on a month-to-date (MTD) basis. Of these, 108 stocks have corrected between 10 per cent and 31 per cent so far this month.

 

On MTD basis, the BSE MidCap index has fallen 0.6 per cent, and the SmallCap index has declined 3.1 per cent, while the Sensex has risen 6.3 per cent. READ MORE

12:24 PM

GDP growth likely touched record in April-June, riding on weak base: Poll

Indian economic growth likely touched a record high in the quarter through June, reflecting a very weak base last year and a rebound in consumer spending, a Reuters poll found.

 

The Aug. 20-25 Reuters poll of 41 economists showed gross domestic product rose 20.0% in the three-month period, compared with a record contraction of 24.4% in the same quarter a year earlier. READ MORE

12:09 PM

Commodity watch

(Source: Kotak Commodities)

12:08 PM

Commodity watch: Crude oil

(Source: Kotak Commodities)

12:05 PM

Index contribution :: Sensex