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Closing Bell on August 3: 39 of the 50 Nifty stocks ended in the negative zone led by Titan, Bajaj Finserv, ONGC, ICICI Bank, Nestle India, Ultratech Cement

stock brokers, BSE, NSE, Sensex, Nifty

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	<strong>Stock market highlights: </strong>Global sentiment remained weak even on Thursday as investors fretted over rating agency Fitch&#39;s credit rating downgrade of the US. Indian benchmark indices -- Sensex and Nifty -- however, ended sharply off lows on fag-end buying amid weekly F&O expiry.</div>
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	The S&P BSE Sensex ended 542 points, or 0.82 per cent, lower at 65,241 levels, while the Nifty50 ended below the 19,400-mark at 19,382. It slipped 145 points or 0.74 per cent. The indices hit intra-day lows of 64,963 and 19,296.</div>
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<div>
	39 of the 50 Nifty stocks ended in the negative zone led by Titan, Bajaj Finserv, ONGC, ICICI Bank, Nestle India, Ultratech Cement, HDFC Life, UPL, Bajaj Finance, TCS, Hero MotoCorp, IndusInd Bank, and SBI. These stocks fell between 1 per cent and 2.4 per cent.</div>
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	In the broader markets, the BSE MidCap and Smallcap indices ended 0.14 per cent and 0.23 per cent higher, respectively.</div>
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<div>
	Barring the Nifty Pharma and Media indices (up 1 per cent each), all other sectors ended in the red with the Nifty Realty index down 1.8 per cent.&nbsp;&nbsp;<br />
	<br />
	<strong>IPO Update :: SBFC Finance</strong><br />
	The three day initial public offer of SBFC Finance was subscribed 1.35 times till 3:30 PM on the first day of the bidding. The retail portion was booked 1.65 times, Employees&#39; protion 91 per cent, NII portion 2.46 times, and QIB 2 per cent.</div>

Sensex slips 542 pts, Nifty holds 19,350; Vedanta sinks 7%, Adani Ent up 2%

Business Standard

Sensex slips 542 pts, Nifty holds 19,350; Vedanta sinks 7%, Adani Ent up 2% | News on Markets - Business Standard

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Hong Kong markets start Thursday's trade on a weak note

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Japan's Nikkei 225 index falls over 1% in early trade

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Australia's S&P 200 index slips 0.6% in early deals

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Sharp selloff seen across US markets overnight

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Good morning readers! Stay tuned for market live updates with Business Standard

Stay tuned for market live updates with Business Standard

MRF gains 4%, hits new high in weak market on strong Q1 results

The benefits of lower raw material cost resulted in better profitability during the quarter. <a href="https://www.business-standard.com/markets/news/mrf-gains-4-hits-new-high-in-weak-market-on-strong-q1-results-123080300444_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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KSB zooms 19% in a weak market on healthy June quarter performance

The Government&#39;s focus on irrigation projects, drinking water supply, sanitisation projects and urban housing is expected to drive the demand for pumps in the water segment. <a href="https://www.business-standard.com/markets/news/ksb-zooms-19-in-weak-market-on-healthy-june-quarter-performance-123080300365_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Ambuja Cements gains 3% on acquisition of Sanghi Industries for Rs 5,000 cr

The company will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi &amp; family. <a href="https://www.business-standard.com/markets/news/ambuja-cements-gains-3-on-acquisition-of-sanghi-industries-for-rs-5-000-cr-123080300149_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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FDC surges 9% as board to consider buyback on August 9

Since April, the stock price of FDC has appreciated 48 per cent as compared to 11.2 per cent rise in the S&amp;P BSE Sensex. <a href="https://www.business-standard.com/markets/news/fdc-hits-surges-10-as-board-to-consider-buyback-on-august-9-123080300274_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Dixon Tech, Optiemus, HCL Info rally 8-9% on laptops, tablets import curbs

Dixon Technologies surged 8 per cent to its intra-day high of Rs 4,467 apiece. HCL Infosystems rallied 9 per cent to a high of Rs 17.40 and Optiemus Infracom jumped 8 per cent. <a href="https://www.business-standard.com/markets/news/dixon-tech-optiemus-hcl-info-rally-6-9-on-laptops-tablets-import-curbs-123080300354_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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CLOSING BELL:: S&P BSE benchmark falls for the third straight day; ends 542 pts lower at 65,241

ALERT:: Adani Enterprises Q1 net jumps 44%; stock up 1.5%

Adani Enterprises Q1 net profit jumped 43.7 per cent to Rs 674 crore for the quarter ended June 2023 as against Rs 469 crore in the year ago quarter. Total income, however, declined 37.7 per cent YoY to Rs 25,438 crore.<br />
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Dixon Technologies surged 8 per cent to its intra-day high of Rs 4,467 apiece. HCL Infosystems rallied 9 per cent to a high of Rs 17.40 and Optiemus Infracom jumped 8 per cent. <a href="https://www.business-standard.com/markets/news/dixon-tech-optiemus-hcl-info-rally-6-9-on-laptops-tablets-import-curbs-123080300354_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Best laptops of 2022" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-12/08/full/1670492115-1044.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Best laptops of 2022" width="620" /></div>

Varun Beverages rises 3% on strong Q2 results; stock up 26% so far in 2023

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	The company&#39;s revenue rose 13 per cent year-on-year (YoY) to Rs 5,611 crore in the second quarter of calendar year 2023 (Q2CY23). <a href="https://www.business-standard.com/markets/news/varun-beverages-rises-3-on-strong-  q2-results-stock-up-26-so-far-in-2023-123080300279_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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		<img align="" alt="Varun beverages" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2019-04/20/full/1555703013-7013.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Varun beverages" width="620" /></div>
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ALERT :: Temasek to invest Rs 1,200 crore in Mahindra Electric

&gt;&gt; Deal values Mahindra Electric Automobile Limited (MEAL) up to Rs 80,580 crore<br />
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These bull riders have dipped below 200-SMA as markets tumble

Both the key indices, BSE Sensex and Nifty 50 are up 7 per cent since the start of this year. Several stocks have rallied during that course, additing to the optimistic sentiment. Now, selective stocks have been experiencing weakened strength and lag behind the current bull-run. <a href="https://www.business-standard.com/markets/news/dmart-hindustan-unilever-5-bull-riders-slipped-200-sma-as-market-trembles-123080300247_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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IndiGo's troubles may mount in Q2FY24, warn analysts

IndiGo&#39;s profitability may be affected in the July to September quarter (Q2) of FY24 owing to lower fares in a seasonally weak quarter and higher fuel prices, analysts said <a href="https://www.business-standard.com/markets/news/after-a-solid-q1-indigo-s-troubles-may-mount-in-q2fy24-warn-analysts-123080300231_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Zydus Lifesciences rallies 3% on USFDA's nod to arthritis drug

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Mid-, smallcaps rise up to 0.3%, outrun benchmark indices

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July Services PMI rises most rise since June 2010 on robust global demand

According to S&amp;P, finance &amp; insurance sector was the &quot;brightest spot&quot; regarding business activity and new orders, topping the growth rankings in both instances. <a href="https://www.business-standard.com/economy/news/july-pmi-services-rises-sharpest-since-june-2010-on-robust-global-demand-123080300212_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Fitch downgrades US' rating: How soon can the markets recover?

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	Global equity markets continued to feel the heat of Fitch Ratings&rsquo; downgrade of long-term foreign currency issuer default rating for the US to AA+ from AAA for the second consecutive day.</div>
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	&nbsp;</div>
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	Most Asian markets, such as in Hong Kong, Shanghai and Japan lost up to 1 per cent in trade on Thursday. Back home, the S&amp;P BSE Sensex and the Nifty50 also traded weak with a cut of around 0.3 per cent in intra-day deals. <a href="https://www.business-standard.com/markets/news/fitch-downgrades-us-rating-how-soon-can-the-markets-recover-123080300218_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="Markets, (Photo: Bloomberg)" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-09/26/full/1664182180-5797.jpg?im=FeatureCrop,size=(826,465)" style="height: 338px; width: 600px;" /></a></div>

Titan dips nearly 3% on disappointing Q1 operational performance

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	Shares of Titan Company dipped nearly 3 per cent to Rs 2,901 on the BSE in Thursday&rsquo;s intra-day trade after the company reported a weak operational performance with consolidated earnings before interest and tax (EBIT) contracting by 242 bps to 10.0 per cent in June quarter (Q1FY24). In comparison, the S&amp;P BSE Sensex was down 0.27 per cent at 65,606 at 10:11 AM. <a href="https://www.business-standard.com/markets/news/titan-dips-nearly-3-on-disappointing-q1-operational-performance-123080300201_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="titan, titan eyewear, glasses, spectacles," src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-12/28/full/1672222362-1807.jpg?im=FeatureCrop,size=(826,465)" style="width: 600px; height: 338px;" /></a></div>

Gold needs to clear this hurdle for sentiment revival, shows chart

<div>
	The downgrade of the US credit rating by Fitch has brought the focus back on investments in safe-haven assets such as Gold. The Fitch on Tuesday downgraded the US credit rating by a notch to &#39;AA+&#39; from &#39;AAA&#39;.</div>
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	Analysts say that the rating downgrade, reflects heightened concerns over the stability of global financial markets and hence investors may seek refuge in gold. <a href="https://www.business-standard.com/markets/news/gold-needs-to-clear-this-hurdle-for-sentiment-revival-shows-chart-123080300193_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="gold silver" src="https://bsmedia.business-standard.com/_media/bs/img/article/2020-02/14/full/1581679047-732.png?im=FeatureCrop,size=(826,465)" style="width: 600px; height: 338px;" /></a></div>

New era of Indian equity outperformance is dawning: Morgan Stanley

A new era of Indian equity market performance versus China is dawning, according to Morgan Stanley, which has upgraded India to overweight in its Asia Pacific-ex Japan (APxJ) list, and is now their most preferred market in not only in this region, but also in the global emerging market (GEM) pack. <a href="https://www.business-standard.com/markets/news/new-era-of-indian-equity-outperformance-is-dawning-morgan-stanley-123080300162_1.html" target="_blank"><strong>READ</strong><br />
<img alt="Morgan Stanley" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-04/19/full/1681909261-4626.jpg?im=FeatureCrop,size=(826,465)" style="width: 600px; height: 338px;" /></a>

Vedanta slips 9%, nears 52-week low on huge block deals

<div>
	As per media reports, Twin Star Holdings, Anil Agarwal-owned promoter entity, is selling a 4.3 per cent stake in its India-listed subsidiary, Vedanta, to raise up to $500 million to repay debt of parent company Vedanta Resources. <a href="https://www.business-standard.com/markets/news/vedanta-slips-9-nears-52-week-low-on-huge-block-deals-123080300169_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="Vedanta" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-06/28/full/1687914076-9909.jpg?im=FeatureCrop,size=(826,465)" style="width: 600px; height: 338px;" /></a></div>

Ambuja Cements gains 1% on acquisition of Sanghi Industries for Rs 5,000 cr

<div>
	Shares of Ambuja Cements (ACL) were firm in Thursday&#39;s intra-day trade, gaining 1 per cent to Rs 466.4 per share, after the company announced acquisition of Sanghi Industries (SIL) at an enterprise value of Rs 5,000 crore. <a href="https://www.business-standard.com/markets/news/ambuja-cements-trades-firm-up-1-on-acquisition-of-sanghi-industries-123080300149_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="A Kolkata-registered company, SMPL owns limestone reserves, a key cement input, in Madhya Pradesh and is planning to come up with a cement unit there" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-10/28/full/1666978698-0552.jpg?im=FeatureCrop,size=(826,465)" style="width: 600px; height: 338px;" /></a></div>

Nifty Pharma leaps 1% in weak market; Realty index dips most

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Adani Enterprises, Bajaj Auto top Nifty gainers

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FEW GAINERS: Sun Pharma, NTPC, HDFC Bank defy weakness on Sensex

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OPENING BELL: Sensex starts 250 pts lower

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CURRENCY ALERT: Rupee opens at 82.72/$ vs last close of 82.58/$

Reliance jumps 16 places, now at number 88 on Fortune Global 500 list

Billionaire Mukesh Ambani&#39;s Reliance Industries has maintained its highest ranking among Indian corporates in the latest Fortune Global 500 list, jumping 16 places to rank at number 88. <a href="https://www.business-standard.com/companies/news/reliance-jumps-16-places-now-at-number-88-on-fortune-global-500-list-123080200817_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Reliance, Reliance Industries" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-07/23/full/1658541446-2146.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Reliance, Reliance Industries" width="620" /></div>
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ALERT :: Ambuja Cements enters into inter-corporate deposit agreement with Sanghi Industries

&gt;&gt; The company has agreed to provide an unsecured intercorporate deposit to SIL for up to Rs 300 crore in one or more tranches for general corporate purposes.<br />
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&gt;&gt; The company does not hold any equity shares in SIL and SIL is not related to the company or its promoter/promoter group/group companies in any manner.<br />
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&gt;&gt; The ICD Agreement does not provide for any special rights, such as the right to appoint directors, first right to share subscription in case of issuance of shares, right to restrict any change in capital structure, etc.

Surging gold prices take sheen off Indian jewellery maker Titan's profit

Expenses climbed about 29%, outweighing a nearly 19% jump in sales to 101.03 billion rupees. <a href="https://www.business-standard.com/companies/news/surging-gold-prices-take-sheen-off-indian-jewellery-maker-titan-s-profit-123080200664_1.html" target="_blank"><strong>READ MORE</strong></a><br />
<div style="float: left;">
	<img align="" alt="Jewellery, Art Work" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-01/10/full/1641755497-0389.png" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="Jewellery, Art Work" width="620" /></div>
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Q1 Preview: Airtel ARPU may near Rs 200-mark; Voda to see muted subs churn

Bharti Airtel Q1 preview: On average, analysts expect Bharti Airtel&#39;s consolidated net profit to rise around 60 per cent year-on-year (YoY) to Rs 2,676 crore in Q1FY24. <a href="https://www.business-standard.com/markets/news/q1-preview-airtel-arpu-may-near-rs-200-mark-voda-to-see-muted-subs-churn-123080200083_1.html" target="_blank"><strong>READ MORE</strong></a><br />
<div style="float: left; max-width: 600px;">
	<img align="" alt="Bharti Airtel" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-02/18/full/1613592210-0727.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Bharti Airtel" width="620" /></div>
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Stocks to Watch on Aug 3: Titan, IndiGo, MMTC, Airtel, Adani Ent, Nykaa

Stocks to Watch today, August 3, 2023: Titan Co reported a lower-than-expected quarterly profit at Rs 770 crore. <a href="https://www.business-standard.com/markets/news/stocks-to-watch-on-aug-3-titan-indigo-mmtc-airtel-adani-ent-nykaa-123080300099_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Morgan Stanley upgrades India to overweight

&gt;&gt; Brokerage firm Morgan Stanley upgrades India to overweight, saying valuations turn &#39;less extreme&#39; than last year&#39;s October&#39;s highs<br />
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&gt;&gt; Morgan Stanley&#39;s upgrade comes after&nbsp;four months from its &#39;equal-weight&#39; rating

WATCH VIDEO | How should you trade in a range-bound market?

Back home, Indian equity markets are trading range-bound since the past few weeks. What are the next triggers for the market?<br />
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FIIs sell equities worth Rs 1,878 crore on Wednesday, August 2

Nifty Metal to be range-bound; Pharma index bullish with need for caution

The Nifty Metal index is likely to oscillate between the levels of 6675 and 6580; a pullback should be awaited in Pharma index, says Ravi Nathani. <a href="https://www.business-standard.com/markets/news/nifty-metal-to-be-range-bound-pharma-index-bullish-with-need-for-caution-123080300094_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Gift Nifty signals a quiet start on Thursday

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Morgan Stanley cuts rating on Chinese shares to equal-weight

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No respite for bitcoin; trades below $29,300-mark

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US companies added more jobs in July than expected, up 324,000: ADP

Wage growth continued to decelerate. Workers who stayed in their jobs experienced a 6.2% pay increase in July from a year ago, the slowest since November 2021. <a href="https://www.business-standard.com/world-news/us-companies-added-more-jobs-in-july-than-expected-up-324-000-adp-123080200731_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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