AXY Financial News

Russia says its forces destroyed three Ukrainian naval drones being used in an attempt to attack a key bridge linking Russia to Moscow-annexed Crimea, temporarily closing it for a third time in less than a year

Realme C51 is priced at Rs. 8,999 in India, and it is available in a single configuration with 4GB of RAM and 64GB of storage. You can choose from two color options: Carbon Black and Mint Green.

Energy Development Company(up 19.83%), PTC India(up 7.31%), Torrent Power(up 6.06%), Jaiprakash Power Ventures(up 5.49%), CESC(up 5.44%), NLC India(up 4.27%), Transformers and Rectifiers(India)(up 3.80%), Kalpataru Projects International(up 3.76%), Adani Power(up 3.48%) and DPSC(up 3.04%) stood among the top gainers. RTNPOWER(down 5.00%), Suzlon Energy(down 3.60%), Karma Energy(down 3.00%), Inox Wind Energy(down 1.99%), Voltamp Transformers(down 1.65%), Adani Energy Solutions(down 0.88%), Orient Green Power Company(down 0.36%) and Inox wind(down 0.15%) were among the top losers of the day. The NSE Nifty50 index ended 93.5 points up at 19528.8, while the 30-share BSE Sensex closed up 240.98 points at 65628.14. Coal India Ltd.(up 4.6%), Wipro Ltd.(up 4.26%), HCL Technologies Ltd.(up 3.93%), UltraTech Cement Ltd.(up 3.87%), Tata Steel Ltd.(up 3.69%), Hindalco Industries Ltd.(up 2.83%), Tech Mahindra Ltd.(up 2.33%), NTPC Ltd.(up 2.21%), Grasim Industries Ltd.(up 1.63%) and Infosys Ltd.(up 1.47%) stood among the top gainers in the Nifty pack. On the other hand, Mahindra & Mahindra Ltd.(down 0.97%), Axis Bank Ltd.(down 0.89%), ITC Ltd.(down 0.8%), Nestle India Ltd.(down 0.8%), Asian Paints Ltd.(down 0.73%), Bajaj Finance Ltd.(down 0.68%), Bajaj Auto Ltd.(down 0.67%), Titan Company Ltd.(down 0.52%), Cipla Ltd.(down 0.52%) and Kotak Mahindra Bank Ltd.(down 0.5%) closed in the red.

By Karthik Kumar

MAGADHSUGAR(up 17.71%), BAJAJHIND(up 12.95%), Shree Renuka Sugars(up 10.08%), K.M.Sugar Mills(up 8.44%), AVADHSUGAR(up 8.12%), Dalmia Bharat Sugar & Industries(up 7.45%), KCP Sugar & Industries(up 7.22%), Sakthi Sugars(up 7.02%), Uttam Sugar Mills(up 6.79%) and Triveni Engineering & Industries(up 6.50%) stood among the top gainers. DCM Shriram Industries(down 1.15%) were among the top losers of the day. The NSE Nifty50 index ended 93.5 points up at 19528.8, while the 30-share BSE Sensex closed up 240.98 points at 65628.14. Coal India Ltd.(up 4.6%), Wipro Ltd.(up 4.26%), HCL Technologies Ltd.(up 3.93%), UltraTech Cement Ltd.(up 3.87%), Tata Steel Ltd.(up 3.69%), Hindalco Industries Ltd.(up 2.83%), Tech Mahindra Ltd.(up 2.33%), NTPC Ltd.(up 2.21%), Grasim Industries Ltd.(up 1.63%) and Infosys Ltd.(up 1.47%) stood among the top gainers in the Nifty pack. On the other hand, Mahindra & Mahindra Ltd.(down 0.97%), Axis Bank Ltd.(down 0.89%), ITC Ltd.(down 0.8%), Nestle India Ltd.(down 0.8%), Asian Paints Ltd.(down 0.73%), Bajaj Finance Ltd.(down 0.68%), Bajaj Auto Ltd.(down 0.67%), Titan Company Ltd.(down 0.52%), Cipla Ltd.(down 0.52%) and Kotak Mahindra Bank Ltd.(down 0.5%) closed in the red.

The NSE Nifty index ended the session 93.5 points up at 19528.8, while BSE Sensex rose 240.98 points to 65628.14. In the Nifty index, Coal India Ltd.(up 4.60 per cent), Wipro Ltd.(up 4.26 per cent), HCL Technologies Ltd.(up 3.94 per cent), UltraTech Cement Ltd.(up 3.87 per cent) and Tata Steel Ltd.(up 3.70 per cent) stood among the top gainers. On the other hand, Mahindra & Mahindra Ltd.(down 0.98 per cent), Axis Bank Ltd.(down 0.90 per cent), Nestle India Ltd.(down 0.81 per cent), ITC Ltd.(down 0.80 per cent) and Asian Paints Ltd.(down 0.74 per cent) were among the top losers of the day.

Shares of IDFC First Bank Ltd.(up 5.4 per cent), Punjab National Bank(up 3.05 per cent), Bank of Baroda(up 2.54 per cent), State Bank of India(up 1.05 per cent) and HDFC Bank Ltd.(up 0.62 per cent) ended the day as top gainers in the pack. On the other hand, Au Small Finance Bank Ltd.(down 1.23 per cent), Axis Bank Ltd.(down 0.89 per cent), Federal Bank Ltd.(down 0.52 per cent), Kotak Mahindra Bank Ltd.(down 0.5 per cent) and ICICI Bank Ltd.(down 0.13 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.32 per cent up at 44578.3. Benchmark NSE Nifty50 index ended up 93.5 points at 19528.8, while the BSE Sensex stood up 240.98 points at 65628.14. Among the 50 stocks in the Nifty index, 31 ended in the green, while 19 closed in the red. Shares of YES Bank, Indian Railway Fin, JP Power, Vodafone Idea and Rail Vikas Nigam were among the most traded shares on the NSE. Shares of MMTC, Indian Railway Fin, De Neers Tools, All E Technologies and JP Associates hit their fresh 52-week highs in today's trade, while CMI Ltd, Penta Gold, Rajvir Ind, FutureLifestyleFash and Sanco Industries hit their fresh 52-week lows.

midcap and smallcap indices, outperformed largecaps by notable margins in the month of August 2023. During the month, sector rotation was visible in the market in which media, IT, and pharma indices delivered positive returns while banks, financial services, energy, commodities, and PSU banking indices witnessed weakness.

unemployment rate increased to 3.8% in August, while the average hourly salary is on the decline. With regard to the September meeting, the Fed is probably going to hold rates, according to the statistics. This was overall encouraging news for the global equity markets.

Indian stock market witnessed a decent rally in the last couple of months, especially in the Midcap and Smallcap space. The benchmark index Nifty 50 and the S&P 500 are up 10% and 14% respectively over the past year. Analysts said the Indian economy stands at a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy.

Digant Haria, Co-Founder, GreenEdge Wealth, says “a lot of commodities cannot do well without China doing well because it is the largest importer, largest consumer of maybe 20-25 different kinds of metals and commodities. The US is trying to re-industrialize itself. Europe has no other choice but to come out with an industrialization policy of its own. Plus, there is transition to renewable energy like wind and solar. All of this is going to be metal heavy.”What is happening in metal stocks? China is not picking up but prices are going higher. Everybody is now of the view that the US economy will pick up. There is no recession. There is no soft landing. In fact, there is no landing at all and prices of steel or copper have gone higher in the last couple of weeks. Is it a good time to be a contra and buy into metal stocks?Absolutely.

MUMBAI : Markets do not seem to be showing major concern over recent allegations against Adani Group, which is evident from the derivative positions rolled over at the end of the August contract series. A position refers to outstanding short or long trade that is carried forward to next series. When significant number of shares are rolled over and prices increase, it signals bullish sentiment.

NEW DELHI : Foreign portfolio investment inflows into the Indian markets slowed in August after robust flows from April to July due to worries about impending rate hikes in the US, resulting in higher bond yields and a stronger dollar. Inflows in August were the weakest since February. Fears about rate hikes have also triggered outflows from other emerging markets.

MUMBAI : Kotak Bank’s underperformance over the last three years on the stock exchanges could continue with Uday Kotak stepping down as MD & CEO four months ahead of schedule. Market analysts believe that the overhang of Kotak’s successor could rule on the stock performance until the Reserve Bank of India (RBI) approves the prospective candidate, who could be an insider.

MUMBAI : Markets do not seem to be showing major concern over recent allegations against Adani Group, which is evident from the derivative positions rolled over at the end of the August contract series. A position refers to outstanding short or long trade that is carried forward to next series. When significant number of shares are rolled over and prices increase, it signals bullish sentiment.

Ukrainian naval drones being used in an attempt to attack a key bridge linking Russia to Moscow-annexed Crimea, forcing its temporary closure for the third time in less than a year. One naval drone was destroyed late Friday and two others early Saturday morning, according to Russia's Defence Ministry.

digital currency available in their digital rupee [CBDC-R] wallet and scan to pay across any UPI QR code. Similarly, merchants need to only display their existing single QR code, which can accept payments in both CBDC and UPI.

Shares of Punjab National Bank(up 3.8 per cent), IndusInd Bank Ltd.(up 2.78 per cent), Bandhan Bank Ltd.(up 2.39 per cent), Bank of Baroda(up 1.84 per cent) and Axis Bank Ltd.(up 1.81 per cent) ended the day as top gainers in the pack. On the other hand, Federal Bank Ltd.(down 0.1 per cent) finished as the top losers of the day. The Nifty Bank index closed 1.02 per cent up at 44436.1. Benchmark NSE Nifty50 index ended up 181.5 points at 19435.3, while the BSE Sensex stood up 555.75 points at 65387.16. Among the 50 stocks in the Nifty index, 41 ended in the green, while 9 closed in the red. Shares of Vodafone Idea, YES Bank, Indian Railway Fin, Suzlon Energy and BHEL were among the most traded shares on the NSE. Shares of Integrated Personnel, Pokarna Ltd, Rossell India, Railtel Corp and HLV Ltd.

mutual funds have increased their cash holding in July compared to that in June, data crunching by ETMutualFunds showed. The average cash holding by these 10 fund houses in July was 8.82% of their assets vis-a-vis 4.76% in June.Samco Mutual Fund holds over 20% cash in July. The fund house holds 21.01% of its assets in cash. Quant Mutual Fund holds more than 15% cash. Shriram Mutual Fund holds around 12% of its assets in cash. (see table for details) Groww Mutual Fund, JM Mutual Fund, Union Mutual Fund, PGIM India Mutual Fund, and Franklin Templeton Mutual Fund hold over 4 -7% of their assets in cash.

Pokarna(up 6.53%), Coal India(up 2.33%), Madhav Marbles and Granites(up 2.31%), NMDC Ltd(up 1.91%), Ashapura Minechem(up 1.76%), Gujarat Mineral Dvpt Corporation(up 1.71%), KIOCL(up 1.12%) and Orissa Minerals Development Company(up 0.58%) were among the top gainers. Oriental Trimex(down 1.35%), MOIL(down 0.61%) and Lexus Granito(down 0.39%) were among the top losers. The NSE Nifty50 index was trading 61.9 points up at 19315.7, while the 30-share BSE Sensex was up 82.55 points at 64913.96 at around 10:19AM. Tata Steel Ltd.(up 4.14%), Hindalco Industries Ltd.(up 3.21%), Oil And Natural Gas Corporation Ltd.(up 2.98%), JSW Steel Ltd.(up 2.52%), Coal India Ltd.(up 2.32%), SBI Life Insurance Company Ltd.(up 1.86%), Mahindra & Mahindra Ltd.(up 1.57%), Bajaj Auto Ltd.(up 1.32%), Power Grid Corporation of India Ltd.(up 1.02%) and Tata Motors Ltd.(up 0.99%) were among the top gainers in the Nifty pack. On the other hand, Divi's Laboratories Ltd.(down 1.64%), Asian Paints Ltd.(down 0.95%), Dr.

Saugata Bhattacharya, Chief Economist, Axis Bank, says “manufacturing, if it actually stalls, in addition to the agricultural uncertainty, given the low rains that we have seen in August, might actually pull GDP growth even lower than the 6.2% that we have been expecting and forecasting for Q2. That is likely to pull down overall annual growth for GDP from our current estimates of 6.4% to 6.3 or 6.2%.”Is the GDP number, in line with your expectations?Very much in line with our expectations. We had expected 7.9%.