Lowe's Financial News

By Davit Kirakosyan

Sectorally, buying was seen in telecom, FMCG, consumer durables, and oil & gas while realty, metal, and public sector stocks saw heavy selling. Stocks that were in focus on Wednesday include names like Syngene International (up over 4%), Petronet LNG (closed with gains of nearly 7%), and Castrol India (rose more than 4% to hit a fresh all-time high). We have collated a list of these three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or price breakout. We spoke to analyst Sunil Gurjar on how one should look at these stocks the next trading day entirely from an educational point of view:Here’s what the Founder of Chartmojo (author, CFTe, CMT Level 3 Cleared) had to say:Castrol India The stock is looking good on the charts and formed a trend reversal pattern called Ascending Triangle Reversal. The counter is also supported by volume buildup. The stock has also given a breakout from stage 2 and is trading above the 30-Week Moving Average, which we use for filtering out uptrend in the stock. The view will be invalid below the low of the pattern breakout candle and, on the way up, the stock should breach the all-time high (ATH) which is pegged at 196.Petronet LNG Petronet has been faring well and has been trading in a strong uptrend.

Everlodge has four important parts: Marketplace, Launchpad, Lending, and Rewards. Firstly, the Marketplace will let people trade parts of vacation homes using special digital items called NFTs. Secondly, the Launchpad will help people, who build homes, get money from the community.

Leading GameFi project Rollbit (RLB) has enjoyed breakout success in recent months, surging +2,600% so far since launch, but with hard-fought retracement underway disparate bag-holders are asking is Rollbit coin going to zero?

On the BSE, Bindal Exports(down 19.90 per cent), FGP Ltd(down 12.31 per cent), Diggi Multitrade(down 10.20 per cent), Atal Realtech(down 9.97 per cent) and TTI Enterprise(down 9.96 per cent) stood among the top losers in today's trade. In the Nifty pack, 30 stocks closed in the green, while 20 stocks ended in the red. The index closed 36.15 points up at 19611.05. On the BSE, Bindal Exports, Atal Realtech, Integra Capital, Gaekwar Mills and Lead Financial hit their fresh 52-week lows, while Ind-Swift Labs, Udayshivakumar Infra, FACT, Karnimata Cold Store and Modern Shares touched their fresh 52-week highs in today's trade.

Morgan Stanley is returning to a bearish view on emerging-market currencies, citing concerns over China’s growth risks that not only weigh on the yuan but also further pressure a weak global economy.

Nifty closed higher for the fourth consecutive session on gains in shares of select heavyweights, including HDFC Bank ITC and Bharti Airtel. However, weak global cues curtailed gains for them as concerns over interest rate hikes and weakening global economic growth kept weighing on sentiment. Major European markets in the UK, France and Germany traded lower when the Sensex closed as recent subdued economic prints of China and Europe raised concerns about an economic slowdown.

Rishabh Instruments will likely be finalised on Wednesday. Investors will get shares on a lottery basis and the whole process will be supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

Dhiraj Nim, Economist/FX Strategist, ANZ Research, says “the rupee could remain in a tight range of about 82.80, 82.90 to 83.10, the recent lows that have been established. My own forecast for September end is 83 per dollar, but there are a couple of more headwinds out there, apart from the dollar strength, namely the crude oil prices, which have surprised everybody on the upside. The rupee in near term could maintain a bit of weakening bias but we expect the RBI to remain present in the market to smooth out any volatility.”The dollar index has seen quite a bit of surge and is already very close to that 105 mark. Do you see more strength there? Our house view is that the dollar index could be at 105 by the end of this quarter. So, at least in the near term, we do not see significant upside, but let us be mindful that 105 is not a very easy level for any currencies in the emerging market space.

Rupee opened at 82.02 a dollar. The US dollar held close to a six-month peak on safe haven buying as jitters over China and global growth weighed on risk appetite. Against a basket of currencies, the dollar was at 104.77, not far off the six-month high of 104.90 touched on Tuesday, Reuters reported.

Varun Beverages Ltd. traded at Rs 925.5 on BSE at 02:10PM (IST) on Wednesday, down 1.12 per cent.

oil price worries. The rupee fell to 83.1800 to the U.S. dollar from 83.04 in the previous session.Asian currencies declined following a further rise in U.S.

Tube Investments of India Ltd. fell 0.1 per cent to Rs 3165.0 at 01:54PM hours (IST) on Wednesday.

ACC Ltd. traded 2.06 per cent down in Wednesday's trade at 01:59PM (IST).

Ashok Leyland Ltd. traded at Rs 182.25 on BSE at 01:49PM (IST) on Wednesday, down 0.62 per cent from previous close. The scrip quoted a 52-week low price of Rs 133.1 and a high of Rs 191.45. Earlier, shares of the company saw a opening in the morning. A total of 403,898 lakh shares changed hands on the counter till 01:49PM (IST). The stock of Ashok Leyland Ltd.

MphasiS Ltd. dropped 2.2 per cent to Rs 2463.6 at 01:44PM (IST) in Wednesday's trade.

United Spirits Ltd. traded at Rs 1051.55 on BSE at 01:39PM (IST) on Wednesday, up 1.9 per cent from previous close. The scrip quoted a 52-week low price of Rs 730.9 and a high of Rs 1068.5. Earlier, the stock saw a opening in the morning. A total of 68,353 lakh shares changed hands on the counter till 01:39PM (IST). The stock of United Spirits Ltd.

Tata Power Company Ltd. slipped 1.02 per cent to Rs 255.75 in Wednesday's trade.

Paytm share price rose over 2 per cent in intraday trade on BSE on Wednesday, looking set to extend gains into the second consecutive session, boosted by the company's business updates for the month of August. One97 Communications Ltd, the parent of Paytm, reported a 20 per cent year-on-year (YoY) growth in average monthly transacting users at 94 million in the July-August period from 79 million in the same period last year. Besides, Paytm said in a statement that it disbursed loans worth ₹5,517 crore ($667 million) in August through its lending platform.

ICICI Prudential Life Insurance Company Ltd. rose 0.1 per cent to Rs 537.25 in Wednesday's trade.

Pidilite Industries Ltd. traded 0.2 per cent up at Rs 2496.0 at around 12:12PM (IST) on Wednesday.