SENSEX Financial News

ICICI Bank, Axis Bank, HDFC Bank and SBI even as investors shift their focus to the meeting at the summer symposium in Jackson Hole, Wyoming. Investors are anticipating clues about the future direction of interest rates as officials of the Federal Reserve, the European Central Bank, the Bank of England, and the Bank of Japan are to meet in Jackson Hole, Wyoming, later this week for their yearly conference on central banking. All eyes will be on what the US Federal Reserve Chair Jerome Powell says about inflation and interest rate trajectory on Friday.

The NSE Nifty index was trading 14.65 points up at 19411.1, while BSE Sensex was up 35.73 points at 65255.76 at the time of writing this report. In the Nifty index, Hindalco Industries Ltd.(up 3.05 per cent), Divi's Laboratories Ltd.(up 1.93 per cent), Tata Steel Ltd.(up 1.19 per cent), Axis Bank Ltd.(up 1.10 per cent) and Larsen & Toubro Ltd.(up 1.05 per cent) were among the top gainers. While Adani Enterprises Ltd.(down 1.11 per cent), ITC Ltd.(down 0.97 per cent), Sun Pharmaceutical Industries Ltd.(down 0.94 per cent), Adani Ports & Special Economic Zone Ltd.(down 0.85 per cent) and Tata Motors Ltd.(down 0.84 per cent) were among the top losers in the index.

Hitachi Energy India(up 7.67%), CESC(up 7.01%), RTNPOWER(up 7.00%), Indo Tech Transformers(up 4.99%), Suzlon Energy(up 4.80%), Karma Energy(up 4.10%), Jaiprakash Power Ventures(up 3.38%), Gujarat Industries Power(up 3.11%), Voltamp Transformers(up 2.69%) and Alstom T&D India(up 2.09%) were among the top gainers. Adani Transmissions(down 2.14%), SJVN(down 1.35%), KPI Green Energy(down 1.31%), KEC International(down 1.18%), ADANIGREEN(down 1.17%), Torrent Power(down 0.82%), Orient Green Power Company(down 0.34%), NTPC(down 0.11%) and Power Grid Corporation of India(down 0.04%) were among the top losers. The NSE Nifty50 index was trading 10.75 points up at 19407.2, while the 30-share BSE Sensex was up 20.81 points at 65240.84 at around 11:15AM. Hindalco Industries(up 3.16%), Divis Laboratories(up 1.9%), Tata Steel(up 1.19%), Apollo Hospitals Enterprises(up 1.09%), Larsen & Toubro(up 1.08%), Axis Bank(up 1.04%), Cipla(up 0.98%), LTIMindtree Ltd(up 0.96%), Eicher Motors(up 0.92%) and State Bank of India(up 0.52%) were among the top gainers in the Nifty pack. On the other hand, Adani Enterprises(down 1.15%), ITC(down 1.01%), Adani Ports & Special Economic Zone(down 0.97%), Sun Pharmaceutical Industries(down 0.87%), Tata Motors(down 0.81%), Bharti Airtel(down 0.79%), Mahindra & Mahindra(down 0.77%), Tech Mahindra(down 0.68%), HDFC LIFE INSURANCE(down 0.59%) and TATA CONSUMER PRODUCTS(down 0.55%) were trading in the red.

Trent Ltd. gained 1.13 per cent to Rs 2051.95 at 11:22AM (IST) in Wednesday's trade.

top Indian IT companies. Despite the challenges, there are some undervalued IT stocks worth considering. These stocks are currently trading below their historical averages.

Federal Bank(up 1.36 per cent), Bank of Baroda(up 0.92 per cent), IDFCBANK(up 0.87 per cent), Axis Bank(up 0.77 per cent) and AU Small Finance Bank(up 0.63 per cent) were among the top gainers. IndusInd Bank(down 0.55 per cent), Kotak Mahindra Bank(down 0.35 per cent) and HDFC Bank(down 0.2 per cent) were the top losers on the index. The Nifty Bank index was up 0.09 per cent at 44034.75 at the time of writing this report. Benchmark NSE Nifty50 index was down 2.85 points at 19393.6, while the BSE Sensex was down 15.9 points at 65204.13. Among the 50 stocks in the Nifty index, 25 were trading in the green, while 25 were in the red. Shares of Suzlon Energy, YES Bank, Reliance Power, Alok Industries and Easy Trip Planners were among the most traded shares on the NSE. Shares of Country Club Hospit, AB Cotspin India, DB Realty, Birla Cable and VELS Film Internatio hit their fresh 52-week highs in today's trade, while Jio Financial Servic, Allcargo Terminals, Rachana Infrastructu, Rajnandini Metal and Yasons Chemex Care hit fresh 52-week lows in trade.

On the BSE, Relicab Cable Manufa(down 15.94 per cent), Adeshwar Meditex(down 10.78 per cent), Captain Technocast(down 10.00 per cent), Jet Infraventure(down 10.00 per cent) and Panacea Biotec(down 9.90 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 22 stocks traded in the green, while 27 stocks traded in the red. The Nifty index was trading 12.6 points down at 19383.85. On the BSE, Shelter Pharma, Jio Financial Servic, Triveni Glass, Decorous Investme and A F Enterprises hit their fresh 52-week lows, while SilverpointInfra, NCL Research, Neil Industries, Meenakshi Enterprise and AccelerateBS India touched their fresh 52-week highs.

The NSE Nifty index traded 9.4 points down at 19387.05, while BSE Sensex was down 45.4 points at 65174.63 as of 10:55AM(IST)on August 23. In the Nifty index, Hindalco Industries Ltd.(up 2.43 per cent), Divi's Laboratories Ltd.(up 1.86 per cent), Apollo Hospitals Enterprise Ltd.(up 1.11 per cent), Tata Steel Ltd.(up 1.11 per cent) and Larsen & Toubro Ltd.(up 0.94 per cent) were among the top gainers. On the other hand, Sun Pharmaceutical Industries Ltd.(down 1.30 per cent), ITC Ltd.(down 1.08 per cent), Adani Enterprises Ltd.(down 1.08 per cent), Adani Ports & Special Economic Zone Ltd.(down 0.94 per cent) and Tata Motors Ltd.(down 0.84 per cent) were among the top losers.

PI Industries Ltd. gained 0.58 per cent to Rs 3700.0 at 10:51AM (IST) in Wednesday's trade.

Bharat Forge(up 2.77 per cent), Sona BLW Precision Forgings(up 1.2 per cent), Eicher Motors(up 0.35 per cent), TVS Motor Company(up 0.31 per cent) and Bosch(up 0.26 per cent) were among the top gainers. Tata Motors(down 0.92 per cent), TIINDIA(down 0.67 per cent), Mahindra & Mahindra(down 0.61 per cent), Hero MotoCorp(down 0.37 per cent) and Ashok Leyland(down 0.32 per cent) were the top losers on the index. The Nifty Auto index was down 0.13 per cent at 15487.1 at the time of writing this report. Benchmark NSE Nifty50 index was down 12.4 points at 19384.05, while the BSE Sensex was down 49.31 points at 65170.72. Among the 50 stocks in the Nifty index, 21 were trading in the green, while 28 were in the red. Shares of Suzlon Energy, YES Bank, Reliance Power, Easy Trip Planners and Alok Industries were among the most traded shares on the NSE. Shares of AB Cotspin India, Country Club Hospit, Birla Cable, Baheti Recycling Ind and ABB Power hit their fresh 52-week highs in today's trade, while Jio Financial Servic, Allcargo Terminals, Rachana Infrastructu, Yasons Chemex Care and AKG Exim Ltd.

Godrej Properties(up 1.25 per cent), Prestige Estates Projects(up 1.01 per cent), Phoenix Mills(up 0.89 per cent), Macrotech Developers(up 0.83 per cent) and SOBHA(up 0.72 per cent) were among the top gainers. Indiabulls Real Estate(down 0.47 per cent), DLF(down 0.14 per cent), Brigade Enterprises(down 0.11 per cent) and Mahindra Lifespace Developers(down 0.05 per cent) were the top losers on the index. The Nifty Realty index was up 0.47 per cent at 539.1 at the time of writing this report. Benchmark NSE Nifty50 index was down 9.5 points at 19386.95, while the BSE Sensex was down 41.08 points at 65178.95. Among the 50 stocks in the Nifty index, 22 were trading in the green, while 28 were in the red. Shares of Suzlon Energy, YES Bank, Reliance Power, Easy Trip Planners and Alok Industries were among the most traded shares on the NSE. Shares of AB Cotspin India, Baheti Recycling Ind, Birla Cable, DB Realty and VELS Film Internatio hit their fresh 52-week highs in today's trade, while Jio Financial Servic, Yasons Chemex Care, Allcargo Terminals, Rachana Infrastructu and AKG Exim Ltd.

Jio Financial Services will eventually see its exit from domestic benchmarks Nifty 50 and Sensex, the stock will remain among the elite group of MSCI and FTSE indices.FTSE Russell added Jio Financial back to the All-World cap index and a few others, while MSCI Inc will add the stock to its Global Standard and Largecap indices after market trading hours on Wednesday. Typically an inclusion or exclusion of a stock from MSCI/FTSE indices results in inflows or outflows as passive funds adjust their portfolio to the changes. However, the stock’s presence in global indices is unlikely to result in any inflows or outflows, according to experts. “Unlike in India, where there are a set of criterias to be part of Nifty/Sensex, the breadth of global indices is wider. Therefore, Jio Financial will be in FTSE and MSCI indices,” says Abhilash Pagaria of Nuvama Institutional Equities. As funds owning RIL stock already have Jio Financial shares, there will be no fresh adjustments in their portfolio.

Havells India Ltd. traded 1.99 per cent up at Rs 1344.75 at 10:41AM (IST) on Wednesday, even as BSE benchmark Sensex dropped 42.38 points to 65177.65.

Jio Financial Services were locked in the lower circuit of 5% for the third straight session on Wednesday, trading at Rs 224.65, amid continued selling by institutional investors. In three days, the market value of the subsidiary of Reliance Industries has eroded by more than Rs 23,700 crore. The traded volumes of 2.3 million shares on NSE were lower than the 7.3 million shares that changed hands in the previous session. On Tuesday, index provider Asia Index Pvt Ltd deferred the decision to remove the stock from all key indices of BSE, including the Sensex by three days, as the stock hit the lower circuit for two consecutive days. Jio Financial is currently part of key indices of the BSE and NSE, including the Sensex and Nifty50. Jio Financial was added to key indices on July 20 for a temporary period, to give passive and active funds holding RIL stock, an opportunity to trade in the demerged entity. It was added at a constant price of Rs 261.8, which was derived through a special pre-open session conducted by the exchanges on RIL stock. Jio Financial will exit all the S&P BSE indices on August 29, provided it does not hit a lower circuit in the 3-day period. If the stock hits a lower circuit again on Thursday, then the removal date will be deferred again by another three days. While selling continues in the domestic market, the inclusion of the stock in the global indices such as FTSE and MSCI provided no support.

LTIMindtree Ltd. traded 1.11 per cent higher in Wednesday's session at 10:46AM (IST).

₹227.25 apiece as compared to previous close of ₹239.20 on BSE. On NSE, JFSL shares hit a 5% lower circuit at ₹224.65 at the open. Jio Financial Services Limited (JFSL), the demerged financial arm of Reliance Industries, made a lackclustre stock market debut on August 21.

rupee ended 17 paise higher at 82.94 a dollar. Investors will keenly watch for clues on the outlook for interest rates from US Federal Reserve Chairman Jerome Powell's speech on Friday at Jackson Hole, Wyoming. “Rupee is likely to depreciate today amid a firm dollar and on expectation of disappointing economic data from major countries across the globe.

Nifty are likely to open lower on Wednesday following negative global cues. The trends on Gift Nifty also indicate a muted start for the Indian benchmark index. The Gift Nifty was trading at 19,360 level as compared to the Nifty futures’ previous close of 19,389.

Day trading guide for today: Domestic equity benchmarks Sensex and Nifty ended flat during Tuesday's session amid persistent concerns over US interest rates and China's economic health, although the mid-cap index rallied to a fresh record on brighter domestic prospects. The gains in shares of select heavyweights such as ITC, Larsen & Toubro and Axis Bank were offset by losses in those of HDFC Bank, ICICI Bank and TCS. Sensex closed 4 points higher at 65,220 while the Nifty closed the day at 19,396, up 3 points.

Jio Financial, Vodafone Idea, Adani Energy, Hindalco, Piramal, TVS Supply Chain are among stocks likely to be in focus todayAsian markets traded on a mixed note on Wednesday as investors assess private business activity surveys from Australia and Japan, as well as inflation figures from Singapore. A flat end on the Wall Street also weighed on sentiment.Traders are now awaiting Nvidia Corp.’s results later Wednesday, which are set to test the fervor around the artificial-intelligence hype, while wider markets are marking time ahead of a speech from Federal Reserve Chair Jerome Powell on Friday.MSCI's broadest index of Asia-Pacific shares outside Japan were up 0.1%, hovering not far away from its nine-month trough hit just two sessions ago.

Indian stock market is expected to open on a weak note Wednesday following losses in global peers amid lower risk appetite. Asian markets fell while US stocks indices ended lower overnight as investors awaited clarity on the US Federal Reserve monetary policy outlook from Fed chair Jerome Powell’s speech at a meeting in Jackson Hole on Friday. On the domestic front, the Indian equity indices, Sensex and Nifty, ended flat on Tuesday despite positive trends in global markets.