Market at 1 PMBenchmark indices were trading near day’s low with Nifty below 17800.The Sensex was down 606.81 points or 1.01% at 59691.19, and the Nifty was down 172.30 points or 0.96% at 17784.20. About 1195 shares have advanced, 1920 shares declined, and 103 shares are unchanged.
Buzzing:Government of Singapore acquired 30,68,730 equity shares in Sona BLW Precision Forgings, while SBI Mutual Fund bought 87 lakh shares via open market transactions on Thursday. These shares were bought at an average price of Rs 505 per share. However, Singapore VII Topco III Pte Ltd, an affiliate of private equity firm Blackstone, sold 7,94,33,500 equity shares (13.6 percent stake) in the company at an average price of Rs 509.10 per share.
Nifty Auto index slipped 1 percent dragged by the Tata Motors, Maruti Suzuki, Balkrishna Industries
Daily Voice | Market may cool 5-6% in near term as valuations back to punchy levels, but highly improbable to hit June lows, says Nitin Singh of Avendus
With a strong across-the-board rally, there will probably be a pause and a case for profit booking before the market decides on how the upcoming festive season demand would unfold.
Investec View On UltraTech Cement
Broking house Investec has maintained buy rating on UltraTech Cement with a target at Rs 7,135 per share.
The net cash from operating activities is higher than cash profit over FY18-22 and company is amongst our preferred large cap play, said Investec.
UltraTech Cement was quoting at Rs 6,646.55, down Rs 56.25, or 0.84 percent on the BSE.
BSE Metal index fell nearly 1 percent dragged by the Coal India, Nalco, Jindal Steel
Market at 12 PMBenchmark indices extended the losses and trading at day’s low with Nifty around 17800.The Sensex was down 520.96 points or 0.86% at 59777.04, and the Nifty was down 156.90 points or 0.87% at 17799.60. About 1301 shares have advanced, 1778 shares declined, and 100 shares are unchanged.
Buzzing:
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) gained over four per cent on August 19 a day after it floated a tender to monetise its data assets to boost revenue and increase profit.
The ticketing arm of the Indian Railway reportedly plans to generate Rs 1,000 crore in revenue through digital monetisation.
“IRCTC is a reservoir of huge amount of digital data which opens several opportunities for IRCTC for monetisation,” it said.
DIIs have sold equities worth more than Rs 4200 crore in August so far
So far this year, domestic institutional investors have bought shares worth nearly Rs 2.37 trillion, helping partly offset the pain from an exodus by foreign investors as the US Federal Reserve…
Gold imports up 6.4% to $13 billion in April-July this fiscal
India’s gold imports, which have a bearing on the country’s Current Account Deficit (CAD), rose 6.4 per cent to USD 12.9 billion during April-July this fiscal due to healthy demand, according to government data. The imports stood at USD 12 billion during the same period a year ago.
In July 2022, however, imports of the precious metal fell sharply by 43.6 per cent to USD 2.4 billion, as per the latest data released by the commerce ministry. Click To Read More
Nifty Bank index fell 1 percent dragged by IndusInd Bank, Bank of Baroda, Federal Bank
DIIs have sold equities worth more than Rs 4200 crore in August so far
So far this year, domestic institutional investors have bought shares worth nearly Rs 2.37 trillion, helping partly offset the pain from an exodus by foreign investors as the US Federal Reserve…
