SENSEX Financial News

Indian stock market is expected to open flat with a positive bias tracking mixed cues from global peers. The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 20,073 level as compared to the Nifty futures’ previous close of 20,037.

Mid-cap and small-cap shares crumbled on Tuesday, leading the sell-off in the stock market, as worries about these segments being overheated after the recent record-breaking rally prompted investors and traders to dump them. The Nifty Midcap 150 index dropped 3% and Nifty Small-cap 250 fell 3.9%, Nifty Microcap 250 declined 5.2% on Tuesday — their biggest single-day declines since December 23, 2022. NSE's Nifty ended 3.15 points lower at 19,993.2 after hitting an all-time high of 20,110.3 earlier in the day. BSE's Sensex gained 94 points or 0.14% to close at 67,221.1 — a new record closing.

DHARMESH SHAHHead-Technicals, ICICI SecuritiesWHAT DO THE TECHNICAL INDICATORS INDICATE ON MID AND SMALL-CAP STOCKS? We are in a structural bull market depicted by the acceleration of upward momentum in broader market post breakout from the fi ve-year consolidations of the Nifty Midcap vs. Nifty ratio line.

Shares of defence firms, Public Sector Undertakings (PSUs) and firms deriving business from Railways-the darlings on Dalal Street in the recent run-up- tumbled on Tuesday as investors dumped them with risk aversion gripping the stock market. Analysts said concerns that many of these stocks were overbought following recent gains weighed on investor sentiment. Among defence stocks Bharat Electronics, Hindustan Aeronautics, Bharat Dynamics, and Garden Reach Shipbuilders & Engineers declined 3 -9%.

NEW DELHI : The spectre of an additional tax on diesel vehicles rattled shares of top automakers on Tuesday before an official clarification that there was no such active proposal before the government. Earlier in the day, Union minister for road transport and highways Nitin Gadkari told an industry gathering that he would consider proposing an additional “pollution tax" on diesel engines if the industry doesn’t transition away from the “hazardous" fuel quickly enough. However, the minister later issued a clarification that said, “It is essential to clarify that there is no such proposal currently under active consideration by the government", and “it is imperative to actively embrace cleaner and greener alternative fuels.

Columbia Petro Chem, part of Universal-Halwasiya Group and its promoter Aditya Halwasiya, on Tuesday said they have made Rs 113-crore open offer to acquire up to 3.47 million equity shares or 26% stake of Nashik based condom maker Cupid shares at ₹325 apiece. The open offer follows Universal-Halwasiya Group and Family through Columbia Petro Chem Private Limited and Halwasiya, entering into a definitive agreement to acquire 5.58 million shares or 41.84 per cent of Cupid Limited at Rs 285 per equity share aggregating to Rs 159 crore from its existing promoters, Omprakash Garg and Veena Garg. The transaction is subject to shareholder and other customary closing conditions and approvals. As per SEBI regulations, the offer price will be paid in cash by the acquirers. Universal-Halwasiya Group and Family have appointed Monarch Networth Capital Limited, as the Manager of the offer. Cupid is India’s leading manufacturer of male and female condoms, water based lubricant jelly and (invitro diagnostic (IVD) kits.

On the BSE, Shoora Designs(down 20.00 per cent), SDC Techmedia(down 20.00 per cent), Texmaco Rail(down 14.75 per cent), STC India(down 14.13 per cent) and Luharuka Media & In(down 13.41 per cent) stood among the top losers in today's trade. In the Nifty pack, 19 stocks closed in the green, while 31 stocks ended in the red. The index closed 3.15 points down at 19993.2. On the BSE, Shoora Designs, SecUR Credentials, GTN Textiles, Innovatus Entertain and Atal Realtech hit their fresh 52-week lows, while Karnimata Cold Store, SMIFS Capital, Standard Batt, ITI Ltd and Scarnose Internation touched their fresh 52-week highs in today's trade.

The NSE Nifty index ended the session 3.15 points down at 19993.2, while BSE Sensex rose 94.05 points to 67221.13. In the Nifty index, Tata Consultancy Services Ltd.(up 2.88 per cent), Larsen & Toubro Ltd.(up 1.72 per cent), Infosys Ltd.(up 1.67 per cent), Divi's Laboratories Ltd.(up 1.38 per cent) and UltraTech Cement Ltd.(up 1.30 per cent) stood among the top gainers. On the other hand, Bharat Petroleum Corporation Ltd.(down 4.22 per cent), Power Grid Corporation of India Ltd.(down 3.56 per cent), NTPC Ltd.(down 3.29 per cent), Adani Enterprises Ltd.(down 3.03 per cent) and Coal India Ltd.(down 2.94 per cent) were among the top losers of the day.

stood among the top gainers. MAGADHSUGAR(down 12.38%), BAJAJHIND(down 10.57%), Sakthi Sugars(down 9.21%), KCP Sugar & Industries(down 8.84%), Rana Sugars(down 8.71%), AVADHSUGAR(down 8.52%), Simbhaoli Sugars(down 8.29%), Mawana Sugars(down 7.94%), Uttam Sugar Mills(down 7.41%) and Ponni Sugars(Erode)(down 6.79%) were among the top losers of the day. The NSE Nifty50 index ended 3.15 points down at 19993.2, while the 30-share BSE Sensex closed up 94.05 points at 67221.13. Tata Consultancy Services Ltd.(up 2.87%), Larsen & Toubro Ltd.(up 1.72%), Infosys Ltd.(up 1.66%), Divi's Laboratories Ltd.(up 1.37%), UltraTech Cement Ltd.(up 1.29%), ICICI Bank Ltd.(up 1.25%), Dr.

Torrent Power(up 0.37%) and Power & Instrumentation(Gujarat)(up 0.13%) stood among the top gainers. Reliance Power(down 11.54%), Jaiprakash Power Ventures(down 11.22%), Gujarat Industries Power(down 10.57%), DPSC(down 10.39%), NLC India(down 9.51%), Transformers and Rectifiers(India)(down 9.14%), Voltamp Transformers(down 8.76%), SJVN(down 8.40%), JSW Energy(down 7.91%) and Inox wind(down 7.39%) were among the top losers of the day. The NSE Nifty50 index ended 3.15 points down at 19993.2, while the 30-share BSE Sensex closed up 94.05 points at 67221.13. Tata Consultancy Services Ltd.(up 2.87%), Larsen & Toubro Ltd.(up 1.72%), Infosys Ltd.(up 1.66%), Divi's Laboratories Ltd.(up 1.37%), UltraTech Cement Ltd.(up 1.29%), ICICI Bank Ltd.(up 1.25%), Dr.

inflation data for August and industrial production data for July, scheduled to be revealed later today. Global cues were also weak as investors shifted focus to US inflation data on Wednesday and monetary policy meetings of the European Central Bank on Thursday and of the US Fed next Wednesday. European markets were mixed when the Sensex closed.

PMS funds under these categories retain their outperformance versus largecaps. In August, benchmark Sensex shed more than 2%, whereas the BSE midcap and smallcap indices hit fresh highs. While largecap funds gave up to 6% returns in August, smallcap and midcap funds gave returns of up to 12%, data by PMS Bazaar showed. Electrum Portfolio Managers’ midcap and smallcap portfolio, Electrum Laureate, gave the highest monthly returns of nearly 12% in August. In just 6 months, it has given a staggering 43% returns. Following Electrum was Motilal Oswal’s two of the midcap and smallcap strategies, which gave nearly 10% returns each in the month of August. Roha Asset Managers’ Emerging Champions gave over 4% returns in August, but on a 6-month basis, this strategy has given handsome returns of 48%. AlfAccurate Advisors, Ambit Investment Advisors, Sunil Singhania-owned Abakkus Asset Managers’ Emerging Opportunities, InCred PMS, PhillipCapital, and Karma Capital’s Lotus were the other midcap and smallcap funds to give returns to the tune of 2-5%. Multicap category funds also did quite well in the last month, and the top performers were Samvitti Capital, Invasset LLP, Avestha Fund Management, Agreya Capital Advisors, and Bonanza Portfolio, giving 8-14% returns to investors. Eventhough profit booking was seen in largecap stocks last month, some of the largecap funds managed to give positive returns.

Bharat Electronics Ltd. traded 6.56 per cent down at Rs 135.25 at 02:04PM (IST) on Tuesday, even as BSE benchmark Sensex gained 68.79 points to 67195.87.

Cholamandalam Investment & Finance Company Ltd. traded 2.95 per cent down at Rs 1149.65 at 01:44PM (IST) on Tuesday, even as BSE benchmark Sensex gained 80.57 points to 67207.65.

Nifty appear to have lost steam as both traded volatile on Tuesday amid lingering concerns over sticky inflation, higher interest rates, and a slowdown in global economic growth. Sensex opened with a strong gain of 380 points at 67,506.88 against the previous close of 67,127.08 but failed to hold altitude and fell over 150 points in the trade so far.

Voltas Ltd. traded 3.27 per cent down at Rs 877.5 at 12:43PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 57.04 points to 67070.04.

Nifty, Sensex and Bank Nifty are still trading around record highs. In such a situation when stock market is witnessing participatory rally for long, mutual fund managers find it difficult to find stocks that may yield in sync with majority of indices are stocks also soar to record high. In fact, they outperform indices generating alpha returns.

Au Small Finance Bank Ltd. traded at Rs 718.65 on BSE at 12:28PM (IST) on Tuesday, down 2.21 per cent from previous close. The scrip quoted a 52-week low price of Rs 548.15 and a high of Rs 794.95. Earlier, shares of the company saw a gap down opening in the morning. A total of 21,546 lakh shares changed hands on the counter till 12:28PM (IST). The stock of Au Small Finance Bank Ltd.

Ashok Leyland Ltd. traded 3.46 per cent down at Rs 178.4 at 12:23PM (IST) on Tuesday, even as BSE benchmark Sensex gained 23.39 points to 67150.47. The stock had closed at Rs 184.8 in the previous session.

Zee Entertainment Enterprises Ltd. traded 1.98 per cent down at Rs 274.15 at 12:02PM (IST) on Tuesday, even as BSE benchmark Sensex gained 177.84 points to 67304.92.

Info Edge (India) Ltd. fell 0.23 per cent to Rs 4499.35 in Tuesday's session as of 11:57AM (IST) even as the equity benchmark Sensex traded 191.95 points higher at 67319.03. Earlier in the day, the stock witnessed a gap up start to the session.