Buzzing:
Talbros Engineering has commenced construction on land acquired admeasuring 2.2 acre in Faridabad for setting up of new production unit.
Talbros Engineering was quoting at Rs 575.00, up Rs 5.35, or 0.94 percent on the BSE.
Market at 3 PMBenchmark indices erased some of the intraday losses but still trading lower with Nifty below 17800.The Sensex was down 588.99 points or 0.98% at 59709.01, and the Nifty was down 178.20 points or 0.99% at 17778.30. About 1276 shares have advanced, 1891 shares declined, and 103 shares are unchanged.
BSE Capital Goods index rose 0.5 percent led by the Thermax, L&T, Graphite India
Future Enterprises defaults on Rs 12.68 crore interest payment for NCDs:
Debt-ridden Future Enterprises Ltd (FEL) said it has defaulted on payments of interest of two non-convertible debentures totalling Rs 12.68 crore. The due date for payment was August 17, 2022, FEL said in a regulatory filing.
“The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures (NCDs) due on August 17, 2022,” it said on Thursday. The debentures are secured with a coupon rate of 9.60 per cent per annum.
European Markets Updates
Tapan Patel, Senior Analyst (Commodities), HDFC Securities:
Crude oil prices traded lower with benchmark NYMEX WTI crude oil prices fell by 1.18% to $89.44 per barrel on Friday. Crude oil prices dipped on Friday after two days of gain, as market participants weighed worries about global economic slowdown – that could dampen fuel demand – against expectations of tighter supplies toward year-end.
We expect crude oil prices to trade sideways to down with resistance at $92 per barrel with support at $86 per barrel. MCX Crude oil September contract has important support at Rs 6980 and resistance at Rs 7280 per barrel.
Moody’s cuts China’s 2022 growth forecast to 3.5% from 4.5%:
Market update at 2 PM: Sensex is down 722.84 points or 1.20% at 59575.16, and the Nifty fell 219.40 points or 1.22% at 17737.10.
Don’t see inflation returning to 4% in 2023, says Nomura’s Sonal Varma
India’s headline retail inflation rate has been above the medium-term target of 4 percent for 34 consecutive months. And this number could cross the 50-month mark, as per the Nomura economist.
SecMark Consultancy to consider bonus issue on August 23A meeting of board of directors of SecMark Consultancy is scheduled to be held on August 23 to consider issue of bonus shares to the equity shareholders. The board will also approve the proposal of migration of company from SME platform of BSE to Main Board of BSE Limited as well as listing on the Main Board of National Stock Exchange
Wipro bags multi-year contract from HM TreasuryWipro will be in focus as the IT services provider has received a multi-year contract to deliver Service integration and management (SIAM) services to HM Treasury (HMT). Wipro and HMT will collaborate to enable end-to-end SIAM services, from strategy, design, and implementation to running business-as-usual services such as day-to-day coordination of service integration across HMT’s vendors.
Nifty snaps longest winning streak in 2 years: Here’s what is driving the fall
The recent resurgence in the US dollar index has caught the bulls by surprise after the currency had shown signs of weakness over the past two months
