Stock Market Highlights, Aug 27: Sensex, Nifty end flat; Smallcap shares shine; ZEE soars 11.5%

Stock Market highlights on Tuesday, August 27: 31 out of 50 listed stocks of Nifty50 ended lower, dragged by Titan Company, Hindustan Unilever, JSW Steel, Coal India, and Grasim

12:01 PM

Stock Market LIVE Updates: CDSL, Allcargo, Minda Corp: These 5 overbought stocks can fall up to 13%

The NSE Nifty 50 index and the BSE Sensex have rallied over 4 per cent their August month lows in the last three weeks. Similarly, the Nifty MidCap, SmallCap and the broader Nifty 500 indices have gained in the range of 4.3 - 6.2 per cent from their respective lows this month. READ MORE

11:51 AM

Stock Market LIVE Updates: 'Market is buoyed by speculation of a potential rate cut by the US Fed'

- The Sensex and Nifty started the day on a subdued note but gradually inched higher as the session unfolded. We expect this positive momentum to persist, potentially guiding the Nifty towards the 25,200 level, while the 24,800 mark is anticipated to act as immediate support.

 

- The Bank Nifty also began on a positive trajectory but encountered resistance at a key trend line, leading to some profit-taking. A sustained move above 51,320 could pave the way for the index to advance towards the 52,000 mark.

 

- Looking ahead, the market is buoyed by speculation of a potential rate cut by the US Fed is likely to energize global markets, including Dalal Street. We anticipate this momentum to persist and potentially drive the indices to new highs, with broader market participation expected.

View By: Shrey Jain, Founder and CEO, SAS Online

11:40 AM

Medplus Health Services stock surges 4% after ICICI Prudential buys stake

Medplus Health Services shares rose 4 per cent at Rs 663.50 per share on the NSE in Tuesday’s intraday trade. The stock price movement was followed by stake buyout by ICICI Prudential Mutual Fund on Monday. 

 

The public promoter of Medplus Health Services sold its entire stake worth Rs 836 crore through open market transactions on Monday. Read more

11:25 AM

GPT Infraprojects launches QIP, fixes floor price at Rs 183.8; stock up 5%

GPT Infraprojects share price today was locked in the 5-per cent upper circuit on BSE. The buying interest came after the civil construction company launched a fundraising plan via the Qualified Institutional Placement (QIP) route.

At around 10:27 AM, shares of GPT Infraprojects were up 1.74 per cent or Rs 3.2 at Rs 187 per share. The market capitalisation of the company at around the same time stood at Rs 21,756.3 million. Read more

11:06 AM

Stock Market LIVE Updates: Sensex at 81,786

The benchmarks Sensex, Nifty were trading slightly higher at 11:00 AM. Sensex was up 0.11 per cent, while Nifty50 was trading 0.09 per cent higher at 25,034 level. 

10:52 AM

Stock Market LIVE Updates: Keystone Realtors in focus as subsidiary launches project with Rs 1,750 cr GDV

Rustomjee Group Launches premium 'Verdant Vistas' in Thane with gross development value (GDV) of Rs 1,750 crores. 

10:35 AM

Stock Market LIVE Updates | HUL receives Rs 962.75 crore tax demand

Hindustan Unilever receives Rs 962.75 crore tax demand for non-deduction of TDS on acquisition payment.

Source: Stock exchange filing.

10:18 AM

Medi Assist's arm acquires 100% stake in Paramount Health; stock soars 11%

Medi Assist Healthcare Services share price today surged 11.3 per cent on the BSE, registering an intraday high of Rs 624.95 per share. The counter saw buying on Tuesday, August 27, after an acquisition announcement, which came after market hours on Monday.

At around 9:34 AM, shares of Medi Assist Healthcare Services were up 8.4 per cent or Rs 47.15 at Rs 608.25 per share. The market capitalisation of the company is at around Rs 4,276.92 crore. Read more

10:00 AM

Stock Market LIVE Updates: Market check; Sensex up 100 pts

After opening with a negative bias, the benchmark Sensex jumped 100 points in trade at 81,800 levels. 

9:50 AM

Stock Market LIVE Updates: Bondada Engineering locked in 5% upper circuit on order win

The company received a Letter of Award for a project worth Rs 575.74 crore from Lumina Clean Energy, Purelight Energy, and VVKR Photovoltaics Energy, special purpose vehicles formed by Paradigm IT Technologies and Metalcraft Forming Industries.

9:48 AM

Stock Market LIVE Updates: Medplus Health Services up 2% on Lavender Rose Investment's exit

Lavender Rose Investment exited Medplus by selling its entire shareholding of 11.35 per cent at an average price of Rs 616.48 per share. ICICI Prudential Mutual Fund picked up a 4.3 per cent stake at an average price of Rs 616 per share, and the Government of Singapore bought a 0.97 per cent stake at an average price of Rs 616.2 per share.

9:46 AM

Stock Market LIVE Updates: Repro India shares rise after investor sells stake

Ashish Kacholia sold a 1.22 per cent stake in Repro India at an average price of Rs 625 per share. JVS Joyrass Holdings bought a 0.7 per cent stake at the same price.

9:42 AM

Stock Market LIVE Updates: Medi Assist surges over 8% after acquisition

he company's subsidiary Medi Assist Insurance TPA signed definitive documents for the 100 per cent acquisition of Paramount Health Services & Insurance TPA from Fairfax Asia and the Shah family. This acquisition will grow Medi Assist’s TPA market share to 36.6 per cent for the group segment and 23.6 per cent of the health insurance industry by premiums managed.

9:37 AM

Stock Market LIVE Updates | Paytm up 2% after clarification on ESOP issue

The company in a clarification said that this is not a new development, as the company had already made relevant disclosures on this matter in its financial results for the quarter and year ended March 31, 2024, as well as the quarter ended June 30, 2024. 

9:35 AM

Stock Market LIVE Updates | Use weakness to buy banking stocks, says VK Vijayakumar

There are both headwinds and tailwinds for the market now. Headwinds are coming from the escalation of the geopolitical tensions in the Middle East and Ukraine. Brent crude has shot up above $ 81. The strongest tail wind comes from the expected rate cuts by the Fed which will spill over to other central banks including the RBI. The Indian economy now needs monetary stimulus through rate cuts and this is likely in the next policy meeting.

 

If geopolitical tensions cause dips in the market, DIIs and retail investors are likely to buy that dip. Financials, particularly banking and other rate sensitives like housing and automobiles are the likely preferred sectors for institutional buying. Investors can use weakness in the market to buy leading banking stocks and other rate sensitives in these segments. Segments like paints, adhesives and tyres which use crude as inputs will turn weak.

(Comment By: Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.)