NIFTY Financial News

LTIMindtree Ltd. rose 0.96 per cent to Rs 5246.0 in Friday's trade as of 10:56AM (IST) even as the benchmark Nifty ruled at 19331.0, up 77.2 points. The scrip had closed at Rs 5196.05 in the previous session.

Bharat Heavy Electricals Ltd. (BHEL) surged nearly 8% to hit a fresh 52-week high of Rs130.55 apeice on the National Stock Exchange on Friday, fuelled by investor optimism following improving trend in state-run company’s new order inflows. On 30 August, the company said it has bagged an order for setting up a 2x800 MW Supercritical Thermal Power Project Stage-II at Lara, Chhattisgarh, through international competitive bidding.

GAIL (India) Ltd. rose 2.43 per cent to Rs 117.85 in Friday's trade as of 10:20AM (IST) even as the benchmark Nifty ruled at 19314.9, up 61.1 points. The scrip had closed at Rs 115.05 in the previous session.

The counter opened at Rs 672.25 and touched an intraday high and low of Rs 687.6 and Rs 672.15, respectively, in the session so far. The stock of Indian Railway Catering & Tourism Corporation Ltd.

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.

Phoenix Mills Ltd.(up 1.33 per cent), Mahindra Lifespace Developers Ltd.(up 1.01 per cent), Brigade Enterprises Ltd.(up 0.7 per cent), Oberoi Realty Ltd.(up 0.36 per cent) and Godrej Properties Ltd.(up 0.17 per cent) were among the top gainers. Prestige Estates Projects Ltd.(down 0.75 per cent), Indiabulls Real Estate Ltd.(down 0.5 per cent), Macrotech Developers Ltd.(down 0.49 per cent) and Sobha Ltd.(down 0.05 per cent) were the top losers on the index. The Nifty Realty index was up 0.41 per cent at 560.7 at the time of writing this report. Benchmark NSE Nifty50 index was up 63.75 points at 19317.55, while the BSE Sensex was up 82.55 points at 64913.96. Among the 50 stocks in the Nifty index, 35 were trading in the green, while 14 were in the red. Shares of Suzlon Energy, BHEL, Vodafone Idea, Reliance Power and Alok Industries were among the most traded shares on the NSE. Shares of Times Guaranty, ITD Cementation, MTAR Technologies, Birla Cable and All E Technologies hit their fresh 52-week highs in today's trade, while GNA Axles, Sanco Industries, FutureLifestyleFash, Pyramid Technoplast and TECIL Chemicals hit fresh 52-week lows in trade.

Global funds purchased $1.6 billion of Indian shares on a net basis last month through Aug. 30, according to the latest exchange data compiled by Bloomberg.

Federal Reserve's rate decision later this month. At 9:19 a.m., the BSE Sensex was trading 100 points or 0.15% higher at 64,931, while Nifty50 was trading at 19,298, up 45 points or 0.23%. Among Sensex stocks, Tata Steel, JSW Steel, M&M, Power Grid, and Tata Motors opened higher, while NTPC, Infosys, Sun Pharma, and Wipro opened lower.MORE TO COME...

US Federal Reserve will not hike interest rates further. The US dollar index - which measures the currency against a basket of six developed-market peers, including the euro, sterling and yen - edged 0.05% lower to 103.58 on Friday, bringing declines this week to 0.53%. On Thursday, the rupee ended 6 paise lower at 82.79 a dollar.

Sensex fell 255 points at 64,831, while the broader Nifty lost 93 points to settle at 19,253. Stocks that were in focus included names like RVNL, which rose 2.1%, Gland Pharma, which gained 9.68%, and United Spirits, whose shares declined 0.35% on Thursday. Here's what Amol athawale, Technical Analyst-VP at Kotak Securities, recommends investors should do with these stocks when the market resumes trading todayRVNL — NeutralIn this week so far, the stock rallied over 5%. After a long consolidation, eventually the stock cleared the short-term resistance of 129 and formed a bullish candle on weekly charts, which is largely positive. However, the larger texture of the stock is still non-directional.

Day trading guide for today: Following mixed global market sentiments, Indian stock market swing between gains and losses on Thursday session and finally ended in red territory. NSE Nifty snapped its three days winning streak and finished 93 points lower at 19,253 whereas BSE Sensex dipped 255 points and closed at 64,831 levels.

Nifty also indicate a tepid start for the Indian benchmark index. The Gift Nifty was trading flat at around 19,389 level as compared to the Nifty futures’ previous close of 19,428.30. On Thursday, the market failed to sustain intraday gains and ended lower amid the monthly derivatives expiry.

Buy or sell stocks for today: After swinging between gains and losses for the entire session, Indian stock market finally ended lower on Thursday. NSE Nifty snapped its three days winning streak and finished 93 points lower at 19,253 whereas BSE Sensex dipped 255 points and closed at 64,831 levels. Bank Nifty index nosedived 243 points and ended at 43,989 mark.

₹6 trillion, or a third of the ₹17.9 trillion estimated in the union budget for FY24, data from the Comptroller General of Accounts (CGA) showed on Thursday.This week, reports on job openings, consumer confidence and inflation in the US stoked hopes on Wall Street that the Fed may hold rates steady at its next policy meeting in September.India's gross domestic product (GDP) grew by 7.8 per cent in the April-June quarter of current fiscal (2023-2024), compared to a growth of 6.1 per cent in the previous January-March quarter of fiscal 2022-23, according to official data shared by the National Statistical Office.On a year-on-year basis, the GDP print recorded in the correpsonding period last year was 13.1 per cent. The Q1FY24 economic growth is the highest in four quarters, largely driven by a robust services sector, and strong capital expenditure.

Indian stock market is expected to open on a tepid note Friday on the back of mixed global cues. Asian markets traded mostly higher, while the US stock market ended mixed overnight amid the release of key economic data that raised hopes that the US Federal Reserve may not hike interest rates further. Investors await the US employment data due on Friday for clues on the Fed’s monetary policy outlook.

«We expect the market to remain sideways on the back of mixed cues from global as well as domestic markets,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded 22.5 points, or 0.12 per cent, lower at 19,406.50, signaling that Dalal Street was headed for muted start on Friday.

Traders held back from carrying forward aggressive bets on Nifty futures to September on Thursday — when the August contracts expired — on expectations of modest moves in the benchmark index in the near future. Though the index closed below a key support of 19,260, analysts are not anticipating it would fall below 19,000 for now, prompting traders to restrict their wagers to specific stocks or themes. The rollover — process of carrying forward index and stock futures positions from an expiring derivatives series to the subsequent ones — in Nifty futures to September stood at 78% as against the three-month average of 82%.

Reliance Industries Ltd. However, as the stock was locked in lower circuits for several days, the exclusion was postponed. Over the past three days, the stock has consistently gained, reaching upper circuits and avoiding lower circuits.

Here's how analysts read the market pulse: «A slew of weak economic indicators from the US, including a softened GDP figure, have heightened the likelihood of a pause in the Fed’s rate tightening, resulting in a downward trajectory of bond yields. However, this development had a limited impact on domestic sentiment on the day of expiry, with the market experiencing declines ahead of the release of India's GDP data, scheduled for today,” Vinod Nair, Head of Research at Geojit Financial Services, said. “Snapping a five-month winning streak, Nifty has entered into a corrective phase and has lost ~2.3% this month; recoveries during the month remained short-lived as levels of 19,500 consistently acted as a hurdle zone.

Reliance Industries Ltd. “Asia Index Private Ltd recently announced that effective prior to the open of trading on Friday, September 01, 2023 , Jio Financial Services will be removed from all the S&P BSE Indices following its listing on Monday, August 21, 2023, due to its spin-off from its parent, Reliance Industries," said the notice on BSE. The JFSL stock did not hit the lower circuit in the previous two trading sessions, and today's session saw the Jio Financial Services share price conclude 0.41% higher at ₹233.65 apiece on BSE.

The NSE Nifty index closed 93.65 points down at 19253.8, while BSE Sensex ended down 255.84 points at 64831.41. On the other hand, Adani Enterprises Ltd.(down 3.73 per cent), Adani Ports & Special Economic Zone Ltd.(down 3.24 per cent), Bharat Petroleum Corporation Ltd.(down 3.24 per cent), Eicher Motors Ltd.(down 2.03 per cent) and Britannia Industries Ltd.(down 1.82 per cent) were among the top losers of the day.