NIFTY Financial News

Buy or sell stocks for today: Despite mixed global market sentiments after a mixed US jobs report, Indian stock market scaled higher on second day in a row. NSE Nifty added 80 points and closed at 19,597 levels while BSE Sensex shot up 232 points and ended at 65,953 mark.

inflation data on Wednesday. In Japan, official data showed the country’s household spending fell 4.2% YoY in June, compared with 4% in May, remaining in negative territory for the fourth straight month. In the US, the latest consumer price report will be released on Thursday, which is expected to offer clues about the Federal Reserve’s monetary policy path.

Coforge would harness burgeoning global demand for artificial intelligence (AI) solutions to underpin its journey into the top tier of Indian outsourcing industry, seeking to double its annual revenue from the just-reached billion-dollar milestone and pull ahead of competition in a crowded mid-market. “We think AI represents a massive opportunity for us,” CEO and executive director Sudhir Singh told ET in an interview. “We need to transform into being an actual AI-first organisation, because the journey from two to five (billion) or two to ten (billion) becomes that much faster then,” he said.

healthcare companies gathered steam with the Nifty Pharma hitting an all-time high on Monday on account of investor appetite for the so-called defensive investment themes.Analysts said the recent surge in pharma shares is part of a catch-up rally as many of them have not participated in the broader market upmove in recent years. The Nifty Pharma Index jumped 1.56% on Monday to close at 15,479.25 as against the 0.4% advance in the benchmark Nifty.

MUMBAII, NEW DELHI : Ant Group transferred about 44% of its stake in One 97 Communications Ltd, which runs Paytm, to founder and chief executive Vijay Shekhar Sharma, a move seen as an effort to reduce the Chinese company’s ownership in the Indian fintech giant. Paytm said Resilient Asset Management BV, an overseas entity owned by Sharma, will acquire the ownership and voting rights of 10.3% of the stake in the company held by Antfin (Netherlands), a unit of Ant Group, formerly known as Ant Financial. Upon successfully completing this transaction, Sharma’s Paytm holding will increase to 19.42%, making him the company’s largest shareholder.

₹364 crore last quarter, up from ₹170 crore in Q1FY23, hurt by higher operating expenses and elevated provisions. This comes at a time when BHEL’s net revenues have increased by 7% year-on-year to ₹5,003 crore. Investors are not pleased.

Tata Consultancy Services and Reliance Industries. However, continuous foreign fund outflows prevented markets from registering a sharp rally. Nifty inched higher to levels just below 19600, while Sensex added 232 points and closed at 65,953.

₹1,892.77 crore. On the other hand, domestic institutional investors (DIIs) remained buyers and purchased shares for ₹1,080.80 crore. As per NSE data, on August 7, FIIs' buy value was at ₹11,709.39 crore and sell value at ₹13,602.16 crore -- resulting in an outflow of ₹1,892.77 crore.

Domestic benchmark index NSE Nifty ended 80.3 points up at 19597.3, while the BSE Sensex closed 232.23 points up at 65953.48. On the other hand, Birla Cable, Motor Gen Fin, Universal Cable, Patel Integrat and Hindprakash Industri stocks hit their fresh 52-week highs today.

Shares of Sanofi India(up 5.15 per cent), Divis Laboratories(up 4.41 per cent), Aurobindo Pharma(up 3.17 per cent), Biocon(up 3.1 per cent) and Ipca Laboratories(up 2.4 per cent) ended the day as top gainers in the pack. On the other hand, Pfizer(down 0.58 per cent), Torrent Pharmaceuticals(down 0.52 per cent), Dr Reddys Laboratories(down 0.33 per cent) and Glaxosmithkline Pharmaceuticals(down 0.18 per cent) finished as the top losers of the day.

ETMarkets has cherry-picked ten stocks from this group, offering potential investors valuable insights for their decision-making process. However, please note that the current market price of each stock may not reflect the exact closing price, as updates on Trendlyne may come with a lag. The Golden Crossover is a bullish technical pattern that occurs when a stock's short-term moving average crosses above its long-term moving average.

The NSE Nifty index ended the session 80.3 points up at 19597.3, while BSE Sensex rose 232.23 points to 65953.48. In the Nifty index, Divi's Laboratories Ltd.(up 4.41 per cent), Mahindra & Mahindra Ltd.(up 4.25 per cent), SBI Life Insurance Company Ltd.(up 2.73 per cent), LTIMindtree Ltd.(up 2.15 per cent) and Adani Ports & Special Economic Zone Ltd.(up 2.08 per cent) stood among the top gainers.

Shares of Mahindra & Mahindra(up 4.25 per cent), Samvardhana Motherson International(up 2.02 per cent), Maruti Suzuki(up 0.56 per cent), Hero MotoCorp(up 0.32 per cent) and Ashok Leyland(up 0.3 per cent) ended the day as top gainers in the pack. On the other hand, Balkrishna Industries(down 4.52 per cent), MRF(down 2.77 per cent), TVS Motor Company(down 1.36 per cent), TIINDIA(down 1.29 per cent) and Tata Motors(down 0.89 per cent) finished as the top losers of the day.

Shares of Punjab National Bank(up 0.75 per cent), Bandhan Bank(up 0.75 per cent), ICICI Bank(up 0.53 per cent), IndusInd Bank(up 0.4 per cent) and IDFCBANK(up 0.23 per cent) ended the day as top gainers in the pack. On the other hand, AU Small Finance Bank(down 1.75 per cent), Bank of Baroda(down 1.02 per cent), State Bank of India(down 0.94 per cent), Axis Bank(down 0.51 per cent) and Federal Bank(down 0.41 per cent) finished as the top losers of the day.

Jitendra Arora, Sr EVP & Fund Manager, ICICI Pru, says “we are very positive on Indian markets over a long time but we still expect that in the short term, which may be next three to six months, we can see markets consolidating around current levels. That period may get stretched if we see more election-led uncertainty coming into the markets which will start becoming a factor at some stage psychologically as we move closer to the election cycle.”Let’s talk about the broad markets first. Last week we saw the Nifty at around 19,300 around and today it was trying to come back to 19,600 levels. What is your view on the market on a long term basis? Do you expect it to be a bit range-bound right now?You asked two questions in the same flow, one is whether I expect the market to stay range-bound and also what is my long-term view.

Nifty and Sensex rose slightly on Monday, supported by IT, pharmaceutical, and healthcare stocks, amidst caution in a week that would be driven by a lot of data, including US inflation data and the Reserve Bank of India's monetary policy decision. The Nifty 50 index was up 0.41% at 19,597.30 while the S&P BSE Sensex rose 0.35% to 65,953.48. Among the Nifty sectoral indices, Nifty IT (up 1.13%), Nifty Pharma (up 1.56%), and Nifty Healthcare (up 2.01%).

RBI MPC may maintain the status quo on August 10; comment on inflation, growth trajectory to be in focus Also, the inflation numbers of the US and China, expected this week, will be crucial factors that will dictate the mood of the market. Sensex opened 90 points higher at 65,811.40 against the previous close of 65,721.25 and rose 347 points in intraday trade to the level of 66,067.90.

tech stocks which have been under scrutiny for reporting weaker-than-expected growth and guidance cuts in the June quarter. A bulk of the investment (Rs 11,514 crore) went into financial services, which have been a favourite of all big boys of Dalal Street amid solid credit growth. However, the pace of inflow in financial stocks slowed down compared to June when FIIs invested over 19,000 crore in the sector.

Indian Oil Corporation Ltd. traded 0.1 per cent down at Rs 92.24 on Monday at around 12:38PM (IST), while the benchmark BSE Sensex advanced 190.63 points to 65911.88. As many as 401,515 shares changed hands on the counter with a total value of Rs 370.0 crore.

LTIMindtree Ltd. traded 0.14 per cent up in Monday's trade at 12:33PM (IST). Around 5,145 shares changed hands on the counter.

Even as the market consolidates with corrective moves, Nifty is still very close to new highs formed recently. This is making headlines stay bullish and “hope” the dominant factor on the street.