IT, HDFC Bank, M&M send Sensex 202 pts down; Adani Ent gains 4%, RIL 1%

Closing Bell on August 18, 2023: The Nifty50, meanwhile, ended at 19,310, down 55 points

11:38 AM

Foreign portfolio investor moves swing stock price pendulum, shows data

The average stock price gain for these companies was nearly 30 per cent during the quarter, compared to a 13 per cent gain in the Nifty 500. Meanwhile, the average stock price gain for the 908 companies where retail shareholders increased their stakes was about 21 per cent. READ MORE

11:27 AM

Tightening India-US 10-year bond yield spread puts rupee under pressure

One of the key factors contributing to the decline in the value of the rupee against the US dollar is the tightening yield spread between the 10-year India government bond and the US government bond. READ MORE

11:17 AM

ALERT:: IPCA Labs makes open offer 26% equity of Unichem Labs shares; stock flat

IPCA Labs to acquire up to 18.30 million equity shares, representing 26 per cent equity shares of Unichem Labs, at Rs 440 each. Open Offer will start from August 28 and close on September 08.

11:08 AM

Erratic monsoon may halt tractor stocks' rally in near-term: Analysts

Analysts believe the on-going rally across tractor stocks may face headwinds from spatial distribution of monsoon across the country, which could keep sentiments in check. READ MORE

10:56 AM

Adani Power up 6% in 2-days, hits 7-month high after GQG Partners stake buy

Promoter Adani family had sold an 8.1 per cent stake, or 312 million equity shares, at an average price of Rs 279.17 per share. READ MORE

10:45 AM

Market Check:: Nifty PSU Bank index gains for 3rd straight day; up 0.4% in a weak market

10:35 AM

Concord Biotech lists at 21% premium over its issue price

The shares of the biopharma company listed at Rs 900, a 21 per cent higher against its issue price of Rs 741 per share on the National Stock Exchange and BSE on Friday. READ MORE

Photo: Pexels

10:25 AM

GMM Pfaudler tanks 11%, hits 52-week low after huge block deal

On the recent significant increase in the volume of shares of GMM Pfaudler the company clarified that the movement in the volume and price of shares is purely due to market conditions and market driven, and the management of the company is in no way connected with any such movement in volume and price of shares. READ MORE

10:19 AM

ALERT :: Market weakens; Sensex down over 300 pts

10:09 AM

Comment :: 'No triggers in sight for a rebound'

Globally stock markets have declined this month. In the mother market US the S&P 500 is down by 4.25%. This pull back has been triggered mainly by the rising dollar and spiking US bond yields in the US, which, in turn, is in response to the view of most Fed officials that the Fed will have to tighten rates more to rein in inflation.
 

Nifty is down 3% from the July peak of 19,979, moving in sympathy with the global cues. There are no immediate triggers that can lead to sharp rebound in the market. Further weakness in the market will make valuations reasonable. 

Views by: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

10:00 AM

New Listing :: Concord Biotech lists at 22% premium

>> Stock lists at Rs 900.05 per share on the BSE, NSE 

>> Issue price was Rs 741

9:50 AM

RBI okays P R Seshadri's appointment as MD & CEO; stock jumps 10%

>> The RBI has conveyed their approval for the appointment of PR Seshadri as Managing Director & CEO of the Bank for a period of three years with effect from October 1, 2023

9:48 AM

Sula Vineyard gains 1.6% in weak market on Rs 2.08-cr revenue over August 12-14 weekend

>> Sula sees highest-ever revenue during August 12-14 weekend

9:45 AM

Large Trade :: GMM Pfaudler sinks as nearly 6 million shares change hands via block deal

>> 5.9 million shares changes on the BSE at 9:15 AM.

>> Thus far, a combined 7.6 million shares have changes hands on NSE, BSE

9:41 AM

Ircon slips over 1%; Govt may upgrade status to 'Navratna' PSU

>> The Department of Public Enterprises is considering a proposal to upgrade the status of Rashtriya Chemicals and Fertilisers (RCF) and IRCON to Navratna, which would enable the companies to have more autonomy in terms of investment, setting up joint ventures, and other financial decisions. Both RCF and IRCON are currently categorised under Miniratna Category-I, Schedule 'A' status. 

>> RCF is up 0.3%