Stock Market Live Updates: Sensex falls over 400 points, Nifty below 19,300 on gloomy global sentiment; Jio Financial drag

Stock Market Live Today: Nifty’s path ahead: Pullback extends, 19280 zone crucial; derivatives signal mixed sentiments

Nifty outlook:

Rejection trades emerged as feared, on reaching the extended target of 19570 yesterday. The surprising depth of the pull back has renewed the prospects of 19060-18900 or even 18600-18300, as the downside objectives, but we pin our hopes on the 19280 region to step in and offer bargain buying support today. A direct fall below 19250 or inability to reclaim 19420 will signal resumption of the 18300 slide. – Read more

Derivative:

Nifty weekly contract has highest open interest at 19400 for Calls and 19300 for Puts while monthly contracts have highest open interest at 19500 for Calls and 19000 for Puts. Highest new OI addition was seen at 19400 for Calls and 18650 for Puts in weekly and at 19500 for Calls and 19500 for Puts in monthly contracts. FIIs increased their future index long position holdings by -4.25%, increased future index shorts by 1.94% and in index options by -51.92% in Call longs, -37.65% in Call short, -58.00% in Put longs and -53.19% in Put shorts.

— Daily technical views from Anand James, Chief Market Strategist at Geojit Financial Services.

Indiabulls Housing retires Rs 2,232 crore ECB Debt to ANZ, Barclays, and SBI

Indiabulls Housing Fin repays Rs 2232 crore of ECB to ANZ Banking Group, Barclays Bank Plc & SBI

Stocks to Watch: Supreme Ind acquires Parvati Agro Plast’s PVC pipes biz

Supreme Ind acquires Parvati Agro Plast’s PVC Pipes Biz For Rs 235 crore

Nifty Today: Major gainers, losers at 9.30 am

Major gainers on the NSE at 9:30 am

Bajaj Finance (1.83%); Bajaj Finserv (1.47%); ONGC (0.52%); BPCL (0.47%); Asian Paints (0.42%)

Major losers: Jio Financial (-4.99%); Dr Reddy’s (-1.29%); IndusInd (-1.23%); Ultratech Cement (-0.90%); Wipro (-0.85%)

Share Market Today: Power Mech Projects secures ₹723.90 crore orders for thermal power station and sand mining; stock trading flat

Power Mech Projects informed the receipt of orders worth ₹723.90 crore. Order worth ₹158.69 crore from Raichur Power Corporation Limited for Operation and Maintenance of 2×800 MW Coal based Yeramarus Thermal Power Station (YTPS) at Chikkasugur, Raichur District, Karnataka; and order worth ₹565.23 crore from Madhya Pradesh State Mining Corporation Limited for Sand Mining as Mine Developer Cum Operator for a period of three years in the areas of Narmadapuram -2, Raisen and Narasingpur in the State of Madhya Pradesh.

The stock inches up by 0.09% on the NSE, trading at ₹3,961.

Stock Market Live Today: Economic Indicators: Mineral production index up 7.6% in June 2023; positive growth for key minerals

The index of mineral production of mining and quarrying sector for the month of June, 2023 (Base: 2011-12=100) at 122.3, is 7.6% higher as compared to the level in the month of June, 2022. The cumulative growth for the period April-June, 2023-24 over the corresponding period of previous year is 6.3% percent.

Production level of important minerals in June, 2023 were: Coal 739 lakh tonne, Lignite 33 lakh tonne, Natural gas (utilized) 2845 million cu. m., Petroleum (crude) 24 lakh tonne, Bauxite 1991 thousand tonne, Chromite 399 thousand tonne, Copper conc. 9 thousand tonne, Gold 101 kg, Iron ore 229 lakh tonne, Lead conc. 33 thousand tonne, Manganese ore 303 thousand tonne, Zinc conc. 140 thousand tonne, Limestone 373 lakh tonne, Phosphorite 126 thousand tonne, and Magnesite 10 thousand tonne.

Important minerals showing positive growth during June, 2023 over June, 2022 include: Manganese Ore (27%), Magnesite (21.6%), Gold (18.8%), Chromite (16.6%), Iron Ore (14%), Limestone (10.7%), Coal (9.7%), Lead Conc. (7.6%), Natural gas (U) (3.6%) and Bauxite (1.9%). Other important minerals showing negative growth include: Petroleum(crude) (-0.5%), Zinc Conc.(-1.5%), Copper Conc.(-3.5%), Lignite(-29.6%) and Phosphorite (-33.3%).

Stocks to Watch: Mahadhan AgriTech extends ₹1,200 crore guarantee for Performance Chemiserve’s credit facilities

Mahadhan AgriTech Limited (MAL), a wholly owned material subsidiary of the company, has extended corporate guarantee in favour of Security Trustee acting on behalf of Canara Bank who have sanctioned credit facilities to the tune of ₹1,200 crore to Performance Chemiserve Limited, a wholly owned subsidiary of MAL and a step-down subsidiary of the company.

Stock Market Live Today: Opening Bell: Sensex and Nifty register substantial drops amid weak global cues

Amid weak global cues, the domestic indices, namely Sensex and Nifty, started the day with significant declines. The BSE Sensex, comprising 30 shares, experienced a 425-point drop to reach 64,826 in early trading breaching 65000-mark, while the NSE Nifty fell by 118 points to settle at 19,268.

Notable gainers from the Sensex pack included Bajaj Finserve, Asian Paints, PowerGrid, ONGC, Hero Motocorp. On the other hand, Jio Financial, Hindalco, UltraTech Cement, Wipro and M&M were among the decliners.

Overnight, US stocks saw a sharp decline driven by favorable job data. The Nasdaq led major indices with a nearly 2% drop, and the S&P 500 and Dow Jones Industrial Average both lost more than 1%. The Asia-Pacific region also witnessed a predominance of red in most equities.

Analysts highlight the anticipation of signals from the Jackson Hole summit by global investors. Thursday’s institutional activity indicated robust buying from both domestic and foreign portfolio investors, primarily due to various block deals involving stocks such as Coforge, Max Financial Sapphire, and Manappuram.

Given the prevailing global headwinds, analysts expect Foreign Portfolio Investors (FPIs) to maintain a cautious approach in the coming weeks.

Stock Market Live Today: Global pessimism could lead to rough intra-day session for local markets ahead of Powell’s speech

“Pessimism across global equities could dampen the local market sentiment and a rough intra-day session could be on the cards for investors. Traders will continue to maintain caution and may trim their equity exposure in case the global mood worsens ahead of the key Federal Reserve Chairman Jereme Powell’s speech at annual Fed Jackson Hole symposium later today. Traders would gauge from the Fed’s speech whether inflation continues to remain a challenge and more rate hikes could be in the offing going ahead.” – Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd

Uno Minda promoters consider 2% stake sale at discounted floor price

Market Sources Say: Promoters may sell up to 2% stake in Uno Minda, floor price at ₹602, 0.5% discount to CMP of ₹605

IPO screener: Vishnu Prakash R Punglia public issue subscribed nearly 4 times on Day 1

The public issue of Vishnu Prakash R Punglia Ltd that opened on Thursday, has received a strong response from HNIs and retail investors. The issue, which will close on August 28, was subscribed 3.8 times on Day 1. The company plans to raise about ₹309 crore from the IPO and has fixed the price band at ₹94-99. Investors can bid for a minimum of 150 equity shares

BRICS extends invitations to Saudi Arabia, Iran, and others to join group

BRICS group has invited Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the UAE to join the group.

Investors lock-in opening in below stocks till end of Sept

1. 25-Aug-23 – Syrma SGS Tech – 4.2crs shares

2. 11-Sep-23 – Ikio Lighting – 30 lakh shares

3. 11-Sep-23 – Divgi TorqTransfer – 64 lakh shares

4. 15-Sep-23 – Happiest Minds – 2.8crs shares

5. 16-Sep-23 – Route Mobile – 1.1crs shares

6. 27-Sep-23 – HMA Agro – 12 lakh shares

7. 29-Sep-23 – Chemcon Speciality – 70 lakh shares

8. 29-Sep-23 – CAMS – 1 crs shares

Stock Market Today: Helios Asset Management files SID for overnight fund with SEBI

The recent-entrant to MF space, Helios Asset Management has filed SID with SEBI for HELIOS OVERNIGHT FUND(An open-ended debt scheme investing in overnight securities. Relatively low interest rate risk and low credit risk)

Subhrajit Mukhopadhyay, ED, Edelweiss Tokio Life Insurance on IRDAI amendments

“The changes to reinsurance regulations shows the regulator’s commitment to strengthening the insurance ecosystem in India and is in direct alignment with its vision of Insurance for all by 2047.

The emphasis on streamlining of existing regulations demonstrates the commitment to create an attractive business environment for insurers and reinsurers alike. Steps like lowering the capital requirement for foreign reinsurance branches, rationalising the order of preference, etc. will bring in ease of business for reinsurers and therefore will make India an attractive business destination.

The reducing of compliance burden is also a pragmatic move. It will not only ease the operational complexities but will also enhance the sector’s overall efficiency. These changes, along with the adoption of international standards, will boost India’s reinsurance industry’s technical know-how and innovation potential.

Fund Houses Recommendations

MS on Power grid: Maintain Overweight ; target price at Rs 278

Nomura on Bajaj Finance: Maintain Buy ; target price at Rs 8,700

Nomura on Bajaj Finserve: Upgrade to Buy ; target price at Rs 1815

MS on Reliance Ind: Maintain Overweight ; target price at Rs 2821

Nomura on Birlasoft: Initiate Buy ;, target price at Rs 610

Citi on PB Fintech: Maintain Buy; target price at Rs 1000

Citi on Aptus Wealth: Maintain Buy ; target price at Rs 350

Citi on MPhasis: Maintain Sell, target price at Rs 2120

MS on LTTS: Maintain Underweight, target price at Rs 2900

Stock in Focus: Bharti expands market share, RJio maintains lead: Motilal Oswal

Bharti gains market share across all circle categories; RJio loses market share in B/C circle, but retains overall pole position.: Motilal OSwal

Stock in Focus: Vedanta arbitration award

Vedanta has received an arbitration award inter alia upholding the contention of the Company that additional Profit Petroleum, on account of Director General of Hydrocarbon (DGH) audit exceptions in relation to allocation of common development costs across Development Areas and certain other matters, is not payable as per terms of the Production Sharing Contract for Rajasthan Block .The Company is in the process of reviewing the award in detail and evaluating its financial impact.

Share Market Today: F&O BAN

1️⃣ BHEL

2️⃣ DELTACORP

3️⃣ GMRINFRA

4️⃣ GNFC

5️⃣ HINDCOPPER

6️⃣ IBULHSGFIN

7️⃣ INDIACEM

8️⃣ MANAPPURAM

9️⃣ METROPOLIS

1️⃣0️⃣ PNB

1️⃣1️⃣ RBLBANK

Share Market Today: Insider Trades

SJS Enterprises: Promoter Evergraph Holdings sold 91.6 lakh shares on Aug. 22.

NRB Bearings: Promoter Aziz Yousuf Zaveri bought 2.3 lakh shares between Aug. 22 and 23.

Pennar Industries: Promoter Aditya Narsing Rao bought 50,000 shares on Aug. 23.

Man Infraconstruction: Promoter Mansi P. Shah bought 1.25 lakh shares between Aug. 23 and 24.

Pidilite Industries: Promoters Malay Rashmikant Parekh and Kamalini Rashmikant Parekh sold 8,100 shares each on Aug. 22.

Star Cement: Promoter Laxmi Chamaria sold 1.76 lakh shares between Aug. 21 and 22.

DB Realty: Promoter Mohammed Gulamali Morani sold 30,000 shares on Aug. 21.

Sandur Manganese & Iron Ores: Promoter SY Ghorpade sold 10,000 shares on Aug. 23.

ADF Foods: Promoter Krish Bhavesh Thakkar sold 7,975 shares between Aug

Usha Martin: Promoter Peterhouse Investments sold five lakh shares between Aug. 21 and 22. Dr.

Lal Path Labs: Promoter Arvind Lal sold 31,671 shares between Aug. 22 and 24.

Ultramarine & Pigments: Promoter S Narayanan sold 17,500 shares on Aug. 22.

Pledge Share Details

Ajanta Pharma: Promoter Ravi Agrawal released a pledge of 5.18 lakh shares on Aug. 23.

Trading Tweaks

Ex-date Dividend: Surya Roshni, NCC, Oil India, Neogen Chemicals, KRBL, C.E. Info Systems, Gulf Oil Lubricants India, Gujarat Ambuja Exports, Engineers India, GATI, Central Depository Services (India).

Ex-date Interim Dividend: Seamec

Ex-date Special Dividend: ABB India

Ex-date AGM: Oil India, Neogen Chemicals, KEI Industries, C.E. Info Systems, Gujarat Ambuja Exports

Ex-date Buyback: Indiamart Intermesh, Piramal Enterprises, KRBL, FDC

Record-date Dividend: Surya Roshni, NCC, KRBL, Gulf Oil Lubricants India, Engineers India, Central Depository Services (India).

Record-date Interim Dividend: Seamec.

Record-date Special Dividend: ABB India

Record-date Buyback: Indiamart Intermesh, Piramal Enterprises, KRBL, FDC

Move Into Short-Term ASM Framework: Dredging Corporation of India, Media Matrix Worldwide

Move Out Of Short-Term ASM Framework: Hindustan Construction Company, OnMobile Global.

Share Market Today: Block Deals

Max Financial Services: Max Ventures Investment Holdings sold 1.1 crore shares (3.3%), UBS (US) Group Trust bought 47.5 lakh shares (1.4%), Plutus Wealth Management bought 25 lakh shares (0.7%), and Morgan Stanley Non-ODI bought 12.6 lakh shares (0.4%), among others, at Rs 873 apiece.

Sapphire Foods India: Sapphire Foods Mauritius sold 16.2 lakh shares (2.6%), while Wtcnam Common Trust Funds Trust EM Opportunities Portfolio bought 11.1 lakh shares (1.8%), WMP Dublin EM Opportunities Portfolio bought 2.64 lakh shares (0.4%), and Sprugos Investments VIII bought two lakh shares (0.3%) at Rs 1,355 apiece.

Share Market Today: Bulk Deals

Coforge: Hulst B. V. sold 1.63 crore shares (26.6%) at Rs 4722.15 apiece. SBI Mutual Fund bought 25.8 lakh shares (4.2%) at Rs 4,703 apiece, Kotak Funds bought 8.65 lakh shares (1.4%) at Rs 4,703 apiece, Smallcap World Fund bought 6.6 lakh shares (1.4%) at Rs 4,703 apiece, HDFC Mutual Fund bought 6.5 lakh shares (1.1%) at Rs 4,703 apiece, Societe Generale bought 4.3 lakh shares (0.7%) at Rs 4,950 apiece, ICICI Prudential bought 4.2 lakh shares (0.7%) at Rs 4,703 apiece, Morgan Stanley bought 3.5 lakh shares (0.6%) at Rs 4879.43 apiece, and Aditya Birla Sun Life MF bought 3.2 lakh shares (0.5%) at Rs 4,703 apiece.

RBL Bank: CDC Group sold 99 lakh shares (1.6%) at Rs 230.02 apiece.

Manappuram Finance: Quinag Acquisition sold 8.4 crore shares (9.9%) at Rs 140.50 apiece, Mansi Share and Stock Advisors bought 63.3 lakh shares (0.7%) at Rs 140.29 apiece, BOFA Securities bought 62.6 lakh shares (0.7%) at Rs 140.17 apiece, Chartered Finance and Leasing bought 50 lakh shares (0.6%), and F3 Advisors bought 47.7 lakh shares (0.6%) at Rs 140.53.

Amber Enterprises India: The Government of Singapore bought four lakh shares (1.2%) at Rs 2,800 apiece.

Share Market Today: IPO Offerings

Aeroflex Industries: The IPO has been subscribed 97.11 times on its third and final day. The bids were led by institutional investors, who subscribed 194.73 times; non-institutional investors, 126.13 times; retail investors, 34.41 times; and the portion reserved for shareholders, 28.52 times. It was subscribed 6.71 times on day 1 and 21.10 times on day 2.

Vishnu Prakash R Punglia: The IPO has been subscribed to 3.77 times on day one. The bids were led by non-institutional investors, who subscribed 6.26 times; retail investors subscribed 4.88 times; portions reserved for employees subscribed 1.91 times; and institutional investors subscribed 0.05 times, or 5%.

Stocks to Watch: Granules India

Granules India: The drugmaker received approval from the Brazilian Health Regulatory Agency (ANVISA) for compliance with the guidelines of Good Manufacturing Practices for its Bonthapally API facility, Hyderabad, and an Accreditation Certificate of Foreign Drug Manufacturer from the Pharmaceuticals and Medical Devices Agency (PMDA), Japan, for its Jeedimetla API facility, Hyderabad.

Stocks to Watch: Astra Microwave Products

Astra Microwave Products: The company got orders worth Rs 158 crore from ISRO, DRDO, and DPSU for the supply of satellite sub-systems, airborne radar, sub-systems of radar, and EW projects.

Stocks to Watch: Hero MotoCorp

Hero MotoCorp: launches New Glamour in two variants drum & disc at ₹82,348 & ₹86,348 respectively

Stocks to Watch: ADF Foods

ADF Foods: The company set Sept. 11 as the record date for the stock split in the ratio of 5:1

Stocks to Watch: Monte Carlo Fashions

Monte Carlo Fashions: The company increased its investment in wholly owned subsidiary Monte Carlo Home Textiles by Rs 2 crore to Rs 15.7 crore.

Stocks to Watch: eMudhra

eMudhra: The board has approved raising Rs 250 crore via any instrument

Stocks to Watch: Syrma SGS Technology

Syrma SGS Technology: The company has appointed Satendra Singh as CEO with immediate effect.

Stocks to Watch: GlaxoSmithKline Pharmaceuticals

GlaxoSmithKline Pharmaceuticals: The drugmaker has reported contingent liabilities of Rs 350 crore on account of ongoing litigation

Stocks to Watch: Kaynes Technology

Kaynes Technology: The company entered into an MoU with the Government of Karnataka for Rs 3,750 crore to setup a semiconductor assembly and testing facility and a printed circuit board manufacturing plant through its step-down subsidiaries.

Stocks to Watch: Coforge

Coforge: Promoter HULST B.V. sold its entire stake, i.e., 26.63%, on Thursday.

Stocks to Watch: SKF India

SKF India: The company has acquired a 26% stake in Cleanmax Taiyo.

Stocks to Watch: Prakash Industries

Prakash Industries: The company received the Environment Ministry’s approval for the Bhaskarpara coal mine in Chhattisgarh, which will reduce costs and boost revenue through the open market sale of coal.

Stocks to Watch: Aditya Birla Capital

Aditya Birla Capital: Aditya Birla Sun Life AMC has ceased to be the material subsidiary of the company after dilution of its stake to less than 50%

Stocks to Watch: KPI Green Energy

KPI Green Energy: The company received commissioning certificates from the Gujarat Energy Development Agency for a 4.10 MW wind-solar hybrid power project at the Samoj site in Jambusar, Gujarat.

Stocks to Watch: PL Industries

PL Industries: Bromine leakage from a bromine storage tank at the Jambusar site in Gujarat was quickly contained, and all employees are safe. It reported an insignificant loss on account of the minor leakage.

Stocks to Watch: Mankind Pharma

Mankind Pharma: The board approved the incorporation of a wholly owned subsidiary, Mankind Medicare, with an authorised capital of Rs 5 crore. The subsidiary will manufacture and produce various types of pharmaceutical dosage forms and consumer healthcare products.

Stocks To Watch: Garden Reach

Garden Reach: The company signed an MoU with DEMPO Group, Goa, to launch a collaboration model to build commercial vessels in their shipyards in Goa and Bhavnagar, Gujarat.

Stocks To Watch: DB Realty

DB Realty: The company sold its entire stake in unit Royal Netra Constructions for Rs 2.55 crore to Man Infraconstruction and Platinumcorp Constructions

Stocks To Watch: Shoppers Stop

Shoppers Stop: The company’s MD and CEO, Venu Nair, has resigned effective Aug. 31 due to personal reasons. Homestop chief Kavindra Mishra has been promoted as executive director and CEO for a period of three years, effective Sept. 1.

Stocks To Watch: Vodafone Idea

Vodafone Idea: The company lost 12.9 lakh subscribers in the wireless category as its mobile subscriber base shrank to 22.9 crore, according to TRAI data.

Stocks To Watch: Bharti Airtel

Bharti Airtel: The telecom giant gained 14.1 lakh mobile users during June and ended the month with a wireless subscriber base of 37.4 crore, according to TRAI data

Stocks to Watch: New head at Syrma

The Board and management of Syrma SGS Technology Limited has announced Satendra Singh as CEO of the Company. He will report directly to Managing Director, Jasbir Singh Gujral, as he joins the management team at Syrma SGS to contribute and further enhance the growth journey.

Stocks to Watch: Bharat Electronics – Defence play

The Defence Acquisition Council has granted Acceptance of Necessity for procurement and installation of electronic warfare (EW) suite on Mi-17 V5 helicopters under buy (Indian-IDDM) category which will enhance better survivability of helicopters. The EW Suite will be procured from Bharat Electronics (BEL).

Stocks to Watch: More room for Reliance

Reliance Industries has entered into an understanding with The Oberoi Hotels and Resorts (Oberoi) to jointly manage three properties across India and the UK. These include the upcoming Anant Vilas Hotel in Mumbai’s Bandra Kurla Complex (BKC), the iconic Stoke Park in the UK, and another planned project in Gujarat. Oberoi Hotels was voted the World’s Best Hotel Brand at the Travel + Leisure, USA World’s Best Awards, 2022.

Reliance Retail, an arm of RIL, has launched new retail format Yousta

Stocks to Watch: BSE in focus

International Conveyors Limited has acquired 1,08,023 equity shares of BSE Limited for a consideration of Rs.10 Crore.

Elpro International has also acquired 1,07,664 Equity Shares of BSE Limited for investment purpose.

Stocks to Watch: Antfin plans block deal to sell stake in Paytm: Report

Block deals continue to galore at the exchanges. If media reports are to believed, Antfin is likely to sell another 3.6 per cent stake or 2.3 crore shares of fintech company Paytm, owned by ​One 97 Communications​, via block deal today The floor price for the deal is likely to be at a discount of Rs 880.10 per share.

Dividend Dates

Ex-Dividend 28 August 2023 (Monday)

Last date for Cum-Dividend Today

Bannari Amman Sugars Ltd.

Dividend Per Share Rs.12.5

Previous day Closing Price – Rs. 2801.3

Precision Wires India Ltd.

Dividend Per Share Rs.0.36

Previous day Closing Price – Rs. 90.78

Wardwizard Innovations & Mobility Ltd

Dividend Per Share Rs.0.1

Previous day Closing Price – Rs. 44.58

Opening Bid: Weak global cues set tone for Sensex, Nifty with expected gap-down opening

Domestic markets are likely to see a strong gap-down opening on Friday amid weak global cues. The US Stocks overnight slumped sharply on healthy job data. Major US indices crashed led by Nasdaq that slumped nearly 2 per cent. S&P 500 and the Dow Jones Industrial Average lost over one per cent.

Gift Nifty at 19.300 signals, a gap down opening of over 100 points for Nifty, as focus now shifts to Fed meet. Most equities across Asia-Pacific region are also in deep red.

Muthoot Fincorp One platform to contribute 10% of group revenue in 3 years

Financial services platform Muthoot Fincorp One is expected to contribute roughly 10 per cent to Muthoot Pappachan Group’s revenue in the next three years, according to platform CEO Chandan Khaitan.

REGULATORY DIRECTIVES: SEBI issues disclosure norms for FPIs holding high Indian equity AUM

SEBI on Thursday laid down timelines for providing additional disclosures by foreign portfolio investors (FPIs) that meet certain criteria.

FPIs holding more than 50 per cent of their Indian equity AUM in a single Indian corporate group have 10 trading days within which they can bring down their holdings. After this, they need to make additional disclosures regarding persons having any ownership, economic interest, or control.

Economy Watch: Power demand has surged 21% in August

India’s electricity demand grew by 21 per cent y-o-y in August 2023 as the world’s third largest energy guzzler’s power consumption rose during the month aided by rising heat and humidity levels, which led to an increase in the number of cooling hours.

Stocks to Watch: RIL, Oberoi Hotels to jointly manage hotels

Reliance Industries Limited (RIL) and Oberoi Hotels and Resorts will jointly manage three hotel properties in India and the UK, RIL said in a statement.

RIL holds 18.53 per cent stake in EIH Limited that operates the Oberoi brand of hotels and resorts.

Stocks that will see action today: August 25, 2023

BUZZING STOCKS: Paytm, Reliance Industries, BSE, International Conveyors, Elpro International, Syrma SGS, Granules, Vedanta, KPI Green Energy, TT, PNB, Bharat Electronics, Prakash Industries, Garden Reach, Astra Microwave, Nila, GI Engineering, Shoppers Stop

TECHNICALS: Day trading guide for August 25, 2023: Intraday supports, resistances for Nifty50 stocks

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

TECHNICALS: Stock to buy today: JK Paper (₹380.05)

The share price of​ JK Paper​ has been in a strong uptrend since July this year. The stock rose about 4.3 per cent on Thursday breaking above the 200-Day Moving Average (MA) resistance level at ₹374. ​Read more​

Investor caution prevails in Asia following Wall Street’s slide

Following a sell-off in Wall Street on Thursday, Asian stocks began the day with weaker performance. The decline was primarily driven by a drop in the Nasdaq, which saw a decrease after experiencing significant gains earlier in the week. Investor apprehension was also evident due to the anticipation of a speech by Federal Reserve Chair Jerome Powell on Friday. The S&P 500 experienced a decline of 1.35%, reaching 4,376 points, while the Nasdaq exhibited a more pronounced drop of 1.87%, settling at 13,463 points.

The prevailing sentiment in the Asian market is one of caution. The recent sharp sell-off in Wall Street, coupled with the considerable strengthening of the dollar—experiencing its most significant monthly increase in a span of ten weeks—has left investors wary. There is a reluctance to adopt an overly optimistic approach in light of the impending remarks by Powell.

Notably, equity markets in Japan and Australia, along with Hong Kong stock futures, have all experienced declines.- Agencies