Week Financial News

new 52-week highs on August 22. This surge is indicative of the robust momentum within the market and the resilience of these companies. Notably, Polycab India, Bharat Forge, Power Finance Corporation, and REC led the charge, exemplifying the potential for growth within the Nifty 200 Index. The data was sourced from StockEdge at 12.55 pm, and the updates from the real-time data could come with a lag.

Multibagger stock: Patel Engineering shares are one of the multibagger stocks that Indian stock market has produced in 2023. This circuit to circuit stock has investments from Bank of Baroda and Vijay Kedia. In fact, ace investor Vijay Kedia raised his stake in this multibagger stock during April to June 2023 quarter.

Benchmark NSE Nifty index rose 6.7 points to 19400.3 amid buying in frontline bluechip stocks. However, stocks such as Jio Financial Servic, ABM International L, VELS Film Internatio, Lloyds Metals and Allcargo Terminals, touched their fresh 52-week low. Overall, 27 shares traded in the green in Nifty50 index, while 23 traded in the red. In the Nifty 50 index, HDFC Life, Adani Ent., SBI Life, NTPC and Bajaj Finance were among top gainers, while Titan Company, Cipla, Tech Mahindra, TCS and LTIMindtree traded in the red. The BSE Sensex was trading 7.82 points up at 65223.91 at 10:14AM(IST). Traders were seen piling up positions in Telecommunications, Trading, Miscellaneous, Infrastructure and Plastics sectors, while selling was visible in Banks, Irrigation & Allied Services, Building Materials, Gems and Jewellery and Metals — Ferrous sectors.

NEW DELHI : Rainfall is expected to make a marginal recovery this week, but it may not be enough to offset August’s 40% deficit in regional rains, private weather forecaster Skymet said. Barring Northwest India, the remaining three regions are facing rainfall deficiency as El Nino gathers strength and Indian Ocean Dipole (IOD) climate pattern index remains neutral. Madden Julian Oscillation (MJO) is seen to contribute to El Nino as it gains strength in the coming weeks.

Netflix is set to drop 18 new titles this week. It’s a quieter week than usual, but there’s some exciting titles to come. Here’s a sneak peek at what’s in store:

Montana Bridges, have been reported missing, prompting an Amber Alert in Michigan. The infants were abducted on Monday morning by two unidentified Black women, media reports said. Michigan State Police have revealed that the suspects fled the scene in a black Jeep Cherokee with chrome trim around the passenger windows, bearing the license plate EHD1130. The vehicle was last spotted near the Quality Inn on Plymouth Road, between Merriman and Middlebelt roads. The Amber Alert was officially issued at 5:54 a.m. According to the grandmother of the twins, Lolita Vann, the incident unfolded as the family was staying in a hotel due to a recent break-in at their home. Vann explained that a woman had contacted her daughter through Facebook, offering assistance with diapers and other resources as she was a new mother. The woman visited the hotel the previous night to provide gift cards for essentials. However, when the mother briefly left the room to use a vending machine, she returned to find the twins missing, the reports said. Authorities are actively seeking information regarding the whereabouts of the missing twins. Individuals with any relevant information are urged to contact the Livonia police at 734-466-2470, extension 2, or call 911. Police advise against approaching the suspected vehicle and instead recommend contacting law enforcement immediately.

Stocks declined for the third consecutive week. The outlook for stocks might further deteriorate since any remaining supportive flows from options expiration (OPEX) have been exhausted. According to GammaLab, the S&P 500 remains within a negative gamma regime, indicating that dealers will sell during declines and buy during periods of strength. However, of greater significance, this implies that volatility will likely remain heightened, thereby sustaining an elevated VIX.

After Shah Rukh Khan’s espionage thriller ‘Pathaan’ ended the dry spell for Bollywood in January this year, raking in Rs 1000 crore at the worldwide box-office, another popular star from the 1990s, Sunny Deol, is back with a bang at the box-office! Deol’s comeback venture ‘Gadar 2’ has proved to be a box-office phenomenon. According to a report by the Indian box-office tracking portal Sacnilk.com, the period drama crossed Rs 375 crore at the Indian box-office. Worldwide, the movie collected about Rs 442 crore.

In under a minute, Financial Post reporter, Bianca Bharti, shares your top stories in finance this week. To read more, click on the links below.

Tamilnad Mercantile Bank jumped 17% in intraday trade to a 52-week high of Rs 566.40 on NSE on Monday amid buying action in the banks and financial stocks. The Thoothukudi-headquartered private lender's stock has risen over 19% over three sessions. The stock was trading amid significant volume with over 32.73 lakh shares trading on the NSE.

Bharat Forge share price touched new 52-week high on Monday's trading session after the company's defence arm, Kalyani Strategic Systems Ltd received two export orders worth ₹850 crore. Bharat Forge share gained over 2% on Monday's session. Bharat Forge stock opened at ₹978.85 apiece on BSE, and hit intraday high of ₹991.30 and low of ₹967.80.

Bitcoin (BTC) starts a new week with traders licking their wounds after a 10% snap crash.

Indian market and some selling by foreign portfolio investors (FPIs) in the cash market amid rising dollar and bond yields. The short-term outlook of the market is cautious and analysts expect the market to see some consolidation. "The rally in global markets, driven by the US economy’s soft landing narrative, appears to be losing steam.

Domestic benchmark index NSE Nifty gained 37.9 points to 19348.05, while the BSE Sensex traded 133.36 points up at 65082.02. On the other hand, Tara Chand Logistic, Yash Pakka, Shera Energy, S P Apparels and VLS Finance stocks hit their fresh 52-week highs today.

Benchmark NSE Nifty index rose 52.1 points to 19362.25 amid buying in frontline bluechip stocks. However, stocks such as Parenteral Drug, Melstar Info, Penta Gold, CMI Ltd and Ankit Metal Pwr, touched their fresh 52-week low.

Meta Platforms plans to launch a web version of its microblogging app Threads early next week, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

Elon Musk. The social media app received a warm welcome by users with the app crossing 100 million monthly active users within a week but according to Aug 7 data by SimialrWeb, active users on Threads have gone down to around the 10 million mark.

THORChain (RUNE) stands apart with its distinctive cross-chain liquidity system, and in the current week, it has captured considerable attention for a compelling reason. 

Wall Street's main indices ended mostly lower on Friday, capping off a losing week as the stock market's August struggles continue amid worries that the Federal Reserve will keep interest rates higher for longer.

Reuters, the pessimistic mood in the market can push investors watching contrarian indicators to buy. At the beginning of the year, the markets showed extreme bearishness as indicated by the stock positions of investors and allocations to cash. But, with time the risk appetite of the investors increased with signs of resilience in the economy and cooling inflation.

By Louis Juricic and Sarina Isaacs