Sensex slides 366 pts, extends losing run to 5-weeks; Nifty tests 19,250

CLOSING BELL ON AUGUST 25, 2023: The BSE benchmark has shed 2.7 per cent or 1,797 points in the last five straight weeks. HDFC Bank, Larsen & Toubro and ITC were the major laggards on Friday.

1:50 PM

Stock Alert:: Jio Financial Services was up 2%; after having hit the 5% lower limit earlier today

1:45 PM

Ashish Kacholia buys 1 mn shares of this auto company; stk up 43% in 2 days

Ace investor Ashish Rameshchandra Kacholia bought 1.03 million shares os Universal Autofoundry on Thursday. READ MORE

1:33 PM

ALERT:: RBI-NBFCs meet likely today

RBI is likely to hold meeting with select big NBFCs today, reports CNBC TV-18

1:25 PM

ALERT:: Lupin gets USFDA nod Pirfenidone Tablets; stock down 1%

Lupin in an exchange filing siad, it has received approval from the United States Food and Drug Administration (USFDA) for its Abbreviated New Drug Application for Pirfenidone Tablets, 267 mg and 801 mg, to market a generic equivalent of Esbriet® Tablets, 267 mg and 801 mg of Hoffmann La Roche Inc. 

 

Pirfenidone Tablets had estimated annual sales of $218 million in the US (IQVIA MAT June 2023), the release stated.

 

1:14 PM

Asian Market Update:: Major indices dip up to 2%

Source; Yahoo Finance

1:00 PM

Lupin receives USFDA's nod to market drug to treat lung disease; stock flat

12:45 PM

Rishabh Instruments' IPO to open on Aug 30; price band fixed Rs 418-441

Global energy efficiency solution company Rishabh Instruments Ltd on Friday said it has fixed a price band of Rs 418-441 per share for its Rs 491-crore initial public offering (IPO). READ MORE

12:36 PM

Skin in the game: MFs have bet over Rs 80,000 cr on their own schemes

The mutual fund industry has more than Rs 81,200 crore riding on its schemes, shows a Business Standard analysis of data on sponsor and associate contributions from the Association of Mutual Funds in India (Amfi). READ MORE

12:19 PM

HDFC Bank, Uflex among 5 oversold stocks you should avoid accumulating

The benchmark indices, BSE Sensex and Nifty 50 have breached previous reversal levels, instilling bearish sentiment and triggering further downside. The uncertainty on the street remains highly destructive impacting the psychological instincts among trading community. READ

12:09 PM

Elevated inflation trends may dig a deeper hole for FMCG stocks: Analysts

Renewed inflationary pressures, led by spike in prices of vegetables and cereals, have cast a spell on equity markets in the past one month.

 

The benchmark S&P BSE Sensex and Nifty50 indices have declined up to 2 per cent during the period, clipping the 13-per cent rally from March lows, shows data by ACE Equity. READ

11:59 AM

Escorts Kubota hits new high, surges 8% in 2 days in weak market

In the past two weeks, the stock price of Escorts Kubota has appreciated by 21 per cent. Moreover, in the past one month, it has zoomed 32 per cent as compared to 2.2 per cent decline in the benchmark index. READ

11:49 AM

EIH hits 52-week high as promoter Oberoi Group partners Reliance Industries

EIH Ltd shares hit a fresh 52-week high of Rs 243.15 apiece, rising 2.4 per cent on the BSE in Friday's intraday trade, after its promoter company Oberoi Group entered into an understanding with Reliance Industries to manage three properties across India and the UK. READ

11:41 AM

Goldman cuts target for Asian stocks, sees earnings dip on China fears: Report

Goldman Sachs on Friday lowered its 12-month target for Asian equities excluding Japan, and now expects an earnings contraction for the region, on possible spillovers from weakness in China's growth and its embattled property sector, reported news agency Reuters. 

The Wall Street bank cut its target for MSCI's index of Asia Pacific shares ex-Japan to 555 points from 580. It expects the index's earnings growth to contract by 2% by year-end, from no growth expected earlier.
 

The index currently trades around 504 points and is down nearly 0.3% for the year.
 

China's growth challenges pose spillover risks to the region, both in fundamental and asset-market terms, as economies such as Hong Kong, Taiwan, and Australia are sensitive to changes in Chinese demand through trade, wrote GS analysts.
 

Earlier this week, the bank's analysts cut their full-year earnings-per-share growth estimate for MSCI China to 11% from 14% and reduced their 12-month index target to 67 from 70.

11:25 AM

Shriram AMC's new multi-asset fund: Should you invest? All you need to know

Shriram Asset Management Company, part of the Shriram Group, has launched Shriram Multi Asset Allocation Fund, which aims to offer long-term inflation-adjusted wealth creation through exposure to several assets such as equity, debt, and gold/silver ETFs. READ

11:15 AM

India inflation to return to comfort band once veg prices dip: MPC's Goyal

Retail inflation will return to the central bank's comfort band of 2 per cent-6 per cent as vegetable prices soften, according to a member of India's Monetary Policy Committee (MPC), who said the trajectory of inflation will be clearer once the recent spike ebbs. READ