Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Tuesday’s trading session in the positive territory. The NSE Nifty 50 gained 34.60 points or 0.14% to settle at 25,052.35, while the BSE Sensex jumped 73.80 points or 0.09% to 81,785.56. The broader indices ended in mixed territory, with gain led by Large-cap stocks. Bank Nifty index ended lower by 134.90 points or 0.26% to settle at 51,143.85. IT and Pharma stocks outperformed among the other sectoral indices while Media and PSU Banks stocks shed.
Benchmark domestic indices BSE Sensex and NSE Nifty 50 ended in positive territory on Wednesday.
Commenting on the Technical outlook of Nifty Anand James, Chief Market Strategist, Geojit Financial Services, said that The minor pull back towards close is in respect towards achievement of initial objective of 25075, which also indirectly signals not to chase prices higher. Thus we prefer to be on a wait and watch mode for playing our further objectives of 25150-365. We will begin however with hopes of an upswing towards 25075 again as long as 24870 holds, while a direct fall below 24919-870 could expose 24700. Such a fall is less expected today though.
The initial public offering (IPO) of Ecos (India) Mobility and Hospitality Ltd. is set to open for subscription on August 28 and will be available for bidding until August 30. Ahead of the issue, the company successfully raised Rs 180 crore through its anchor book.
NBCC shares jumped 9% to an intra-day high of ₹192.60 on the NSE after news surfaced that the Navratna Central Public Sector Enterprise might distribute bonus shares to its shareholders. The decision is expected to be approved at the upcoming board meeting scheduled for Saturday, August 31. The company informed shareholders of the planned meeting through an exchange filing.
LTIMindtree, Wipro, Mahindra & Mahindra, Tata Motors, and Cipla are the top movers on NSE Nifty 50 index whereas the top laggards include Shriram Finance, ONGC, Eicher Motors, Axis Bank, and Hero Moto Corp.
The NSE Nifty 50 opens up by 13.05 points or 0.05% at 25,030.80, while the BSE Sensex jumps 68.09 points or 0.08% to 81,779.85 in the opening trade.
The company has received final approval from the United States Food and Drug Administration (USFDA) to market Amantadine extended-release capsules in a 68.5 mg dosage. Additionally, the company has secured tentative approval for the 137 mg dosage. The approved formulation is a generic version of Gocovri (amantadine) extended-release capsules.
Commenting on Today’s market outlook Prashanth Tapse, Senior VP (Research), Mehta Equities said that The Nifty is approaching its all-time high of 25,078.30, and our outlook remains bullish, anticipating a move into uncharted territory. Key support lies at 24,750, and surpassing 25,078.30 could trigger further upward revisions. Nvidia’s earnings on August 28th will be closely watched, as any disappointment could disrupt AI-related stocks.
Tapse also added that the expectations of a Federal Reserve rate cut on September 18th are building, with traders pricing in a 68% chance of a 25-basis point cut. Volatility is likely, with critical inflation data ahead. Preferred trades include buying Nifty and Bank Nifty, with bullish positions in Sun Pharma, Bharti Airtel, Larsen & Toubro, and Muthoot Finance.
The company has increased its stake in Jio Payments Bank Ltd (JPBL) to 82.17% after subscribing to 6.8 crore equity shares. The shares, with a face value of Rs 10 each, were acquired for a total cash investment of Rs 68 crore. The transaction was completed on August 27, 2024.
An IT services company has obtained an interim stay from the Karnataka High Court on a Rs 378 crore GST demand order. The stay was granted following a writ petition filed by the company on August 20, 2024. The petition challenges the legality and validity of the order issued by the Department of Goods and Service Tax, Bengaluru.
Hindustan Copper, Balrampur Chini Mills, Birlasoft, and India Cements to remain in the F&O Ban today on August 28.
ICICI Prudential Life Insurance Company received a tax demand of Rs 429.05 crore from the Deputy Commissioner of State Tax, Maharashtra. The GST demand includes Rs 208.02 crore, Rs 200.22 crore in interest, and Rs 20.80 crore in penalties, said the company in an exchange filing.
Foreign institutional investors (FII) bought shares net worth Rs 1,503.76 crore. Meanwhile, domestic institutional investors (DII) sold shares net worth Rs 604.08 crore on August 27, 2024, according to the provisional data available on the NSE.
NBCC is likely to distribute bonus shares to the shareholders after approval from the board at its upcoming board meet. NBCC informed the shareholders, through an exchange filing, that a meeting of the board of directors of the company is scheduled to be held on Saturday, August 31.
WTI crude prices were trading at $75.92 down by 0.51%, while Brent crude prices were trading at $79.90 down by 0.45%, on Wednesday morning.
Hindustan Unilever (HUL) has received a tax notice of Rs 962.75 crore, including an interest of Rs 329.33 crore for the Rs 3,045-crore acquisition of the India Health Food Drink (HFD) business from the GlaxoSmithKline (GSK) Group, the FMCG major said on Tuesday.
US markets closed on a slightly positive note on Tuesday. The Dow Jones Industrial Average index added 10 points or 0.02%, to end at 41,250.50. The broader market index, the S&P 500, closed 0.16% higher at 5,625.80. Similarly, the tech-heavy Nasdaq Composite rose 0.16% to settle at 17,754.82.