CLOSING BELL:  All sectors, except IT and Financial Services, witnessed selling pressure today, led by auto, pharma, and public sector banks

stock market, markets, brokers, trading, nse, bse, sensex, nifty, rally, coronavirus, covid, lockdown

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	<b>CLOSING BELL<br />
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	Stock market highlights:&nbsp;</b>Fag-end buying lifted benchmark indices for a sixth straight day on Wednesday even as global markets remained tepid due to fresh US-China-Taiwan tensions and weak global growth concerns. All sectors, except IT and Financial Services, witnessed selling pressure today, led by auto, pharma, and public sector banks.&nbsp;</div>
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	The benchmark S&P BSE Sensex traded within a wide range of 57,789 to 58,416 during the day, and closed at 58,351, up 214 points or 0.37 per cent. The NSE Nifty50, on the other hand, ended at 17,388, up 43 points or 0.25 per cent.&nbsp;</div>
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	In the broader market, the BSE MidCap and SmallCap indices slipped 0.6 per cent, and 0.3 per cent, respectively.&nbsp;</div>
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	<strong>Buzzing stocks</strong></div>
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	Adani Transmission, the power transmission company of Gautam Adani Group company, surpassed the fast moving consumer goods (FMCG) firm ITC in market capitalisation (m-cap) ranking as the stock hit a new high on the BSE in Wednesday&#39;s intra-day trade. <a href="https://www.business-standard.com/article/markets/adani-transmission-surpasses-itc-airtel-in-market-cap-ranking-122080300334_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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	Shares of SpiceJet moved higher by 18 per cent to Rs 52.40 on the BSE in Wednesday&#39;s intra-day trade amid heavy volumes on report that the company&#39;s promoter Ajay Singh is exploring possibility of a partial stake sale in the company. Currently, Ajay Singh and his family hold 59.40 per cent stake in SpiceJet. <a href="https://www.business-standard.com/article/markets/spicejet-adds-18-on-ajay-singh-s-partial-stake-sale-buzz-up-41-in-4-days-122080300460_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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	<strong>BS Special :: Rupee movement and investment ideas</strong></div>
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	The rupee has firmly recovered over the last two weeks supported by weakening crude oil prices, and the recent halt in foreign investors&#39; exodus from domestic markets. However, whether the recent strength in the currency will sustain or not depends on the monetary policy trajectory of the Reserve Bank of India, foreign flows, and crude oil prices, experts said. <a href="https://www.business-standard.com/article/markets/rupee-strength-unsustainable-bet-on-chemicals-omcs-in-near-term-analysts-122080300671_1.html" target="_blank"><strong>READ MORE</strong></a></div>

Fag-end buying lifts Sensex 214 pts; Nifty nears 17,400; IT stocks dazzle

Business Standard

Fag-end buying lifts Sensex 214 pts; Nifty nears 17,400; IT stocks dazzle | News on Markets - Business Standard

Oil cos, refiners on radar as govt cuts windfall tax on fuel export, raises levy on domestic crude

The government on late Tuesday increased the windfall tax on domestically produced crude to Rs 17,750 a tonne from Rs 17,000 a tonne earlier, a move that will hit producers like ONGC and Vedanta Ltd. <a href="https://www.business-standard.com/article/economy-policy/centre-revises-windfall-tax-rates-big-boost-for-atf-and-diesel-exports-122080201775_1.html" target="_blank"><strong>Read more</strong><br />
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<img alt="crude oil" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-02/06/full/1644169645-115.jpg?im=Resize,width=640" /></a>

Rupee closes below 79/$ Tuesday; gains 31 paise

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	<img align="left" alt="Chart" class="imgCont" height="256" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/03/full/1659496057-918.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="524" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:524px;">
		source: bloomberg</div>
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Oil prices volatile: Brent Crude tests $100/bbl

Hawkish Fed officials weigh on US equities Tuesday

Chicago Fed President Charles Evans said that he hopes the central bank can raise its benchmark interest rate by half a percentage point in September and then continue with quarter-point hikes until the start of the second quarter in 2023.<br />
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San Francisco Fed President Mary Daly said that the central bank still has work ahead to combat inflation.<br />
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Loretta Mester, president of the Cleveland Fed, said that several more months of evidence that inflation has peaked will be needed before the central bank ends its rate hike cycle.<br />
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Source: CNBC

US equity futures tepid amid rising US-China tensions

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	<img align="left" alt="chart" class="imgCont" height="82" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-08/03/full/1659495494-5796.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="479" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:479px;">
		source: finance.yahoo.com</div>
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SGX Nifty indicates positive start, up 24 odd-points on the Nifty50

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Mixed trade for Asia-Pacific markets: Nikkei 225 up 0.5%

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Weak trade at Wall Street on Tuesday: Dow Jones slips 1.2%

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