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Business News/ Markets / Live Blog/  Market Closing Highlights: Sensex ends flat, Nifty below 19350 amid volatility; banks, financials weigh

Market Closing Highlights: Sensex ends flat, Nifty below 19350 amid volatility; banks, financials weigh

Market closing updates: Indian equities opened higher on Wednesday tracking global cues, but gave up gains in the last hour of trade amid volatility due to expiry. Asian stock markets ended higher but European shares struggled for direction having gained in opening deals

Stock market today: Asian stocks rose on Wednesday following another strong day on Wall Street fuelled by data that eased concerns about another Federal Reserve interest rate hike. (File Photo: Bloomberg)Premium
Stock market today: Asian stocks rose on Wednesday following another strong day on Wall Street fuelled by data that eased concerns about another Federal Reserve interest rate hike. (File Photo: Bloomberg)

Sensex Today | Share Market LIVE updates: Asian shares ended higher on Wednesday as weaker economic data from the U.S. sparked a global equity rally amid expectations of the Federal Reserve taking a pause from interest rate hikes.

European stock markets also climbed higher at the start of trading on Wednesday following strong gains the previous session as traders eye an end to the hiking of interest rates.

Market participants now await the U.S. personal consumption expenditures price index due on Thursday and nonfarm payrolls data on Friday for further clues on the Fed's rate hike trajectory.

30 Aug 2023, 03:49:45 PM IST

Sensex Today LIVE: Indices erase gains to end flat amid volatility; banks weigh

India's benchmark indices ended flat on Wednesday, giving up gains in the last hour of trade led by losses in banking and financial stocks, and taking cues from global peers which turned cautious ahead of key data releases in the US and India.

The Q2 GDP numbers of the US are expected to be released today while the PCE price index data is due on Thursday, and the non-farm payrolls report is expected on Friday. India's Q1 GDP prints will be released on Thursday.

France's CAC 40 declined 0.1%, while Germany's DAX slipped nearly 0.3%, Britain's FTSE 100 added 0.1% to 7,473.74. U.S. shares were set to drift lower with Dow futures down less than 0.1% at 34,876.00. S&P 500 futures fell 0.1% to 4,501.00.

Back home, the Sensex closed 11 points up at 65,087.25 while the Nifty settled 5 points higher at 19,347.45.

On the Nifty, Tata Steel, Maruti Suzuki, M&M, Eicher Motors, and Jio Financial Services, while Power Grid Corp., SBI , BPCL, Dr Reddy's Laboratories and Hero MotoCorp were the worst hit.

The BSE midcap and smallcap indices ended the day with gains of 0.5% to 0.8%.

Sensex stocks at close on Wednesday.
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Sensex stocks at close on Wednesday.
30 Aug 2023, 03:14:24 PM IST

Sensex Today LIVE: Indian Bank to raise equity capital of bank by up to ₹4000 crore via QIP

30 Aug 2023, 02:26:23 PM IST

Sensex Today LIVE: Titagarh Rail has received Letter of Acceptance from Gujarat Metro Rail Corp. for an order value of ₹350 crore

Titagarh Rail
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Titagarh Rail
30 Aug 2023, 02:11:36 PM IST

Sensex Today LIVE: All Nifty sectoral indices higher; IT, metals, auto stocks lead gains

Nifty indexes
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Nifty indexes
30 Aug 2023, 01:42:50 PM IST

Sensex Today LIVE: Gold near 3-week high as investors cut back US rate hike bets

prices hovered near three-week highs on Wednesday as investors pared bets of further U.S. interest rate hikes in response to soft economic readings, with more data eyed this week, Reuters reported.

Spot gold was down 0.1% at $1,934.84 per ounce, about $3 below its highest level since 7 August hit on Tuesday. U.S. gold futures edged down 0.1% to $1,963.10.

U.S. Treasury yields slipped to three-week lows and the dollar weakened on Tuesday after data showed job openings dropped to the lowest level in nearly 2-1/2 years in July, while consumer confidence fell more than expected in August.

30 Aug 2023, 01:20:25 PM IST

Sensex Today LIVE: SAT expresses concern over Sebi's decision on Goenka's role in Zee group

The Securities Appellate Tribunal (SAT) on Wednesday said it was ‘not satisfied’ with the Securities and Exchange Board of India’s (Sebi) recent confirmatory order against Zee Entertainment's former MD and CEO, Punit Goenka, that barred him from holding any key managerial position in Zee group companies.

A bench led by Justice Tarun Agarwala said, “We don’t agree with the impugned order. We are not satisfied with eight months. This can’t go on indefinitely. The merger has happened with the consensus of the shareholders. There is public interest involved. If the public says that he should be the director, then it does have a bearing."

The bench asked Sebi to file a reply in the matter by 4 September and a rejoinder thereafter by Goenka by 7 September. The matter will be heard for final disposal on 8 September.

30 Aug 2023, 01:04:27 PM IST

Sensex Today LIVE: Strides Pharma receives US FDA approval for Mycophenolate Mofetil for Oral Suspension

30 Aug 2023, 12:46:52 PM IST

Sensex Today LIVE: PhonePe launches stock broking platform

30 Aug 2023, 12:32:06 PM IST

Sensex Today LIVE: Inox India files draft papers with Sebi for IPO

Inox India Ltd has filed preliminary papers with capital market regulator Sebi to mop up funds through an initial public offering (IPO).

The issue is an Offer For Sale (OFS) of up to 2.21 crore shares by existing shareholders and promoters, according to the draft red herring prospectus (DRHP) filed on Tuesday.

30 Aug 2023, 12:11:37 PM IST

Sensex Today LIVE: YES SECURITIES on Gillette India – Initiating coverage

Business improving; trend reversal offers potentiality

We initiate coverage on Gillette India Ltd (GILL) with ADD rating. Our view is pinned on the following arguments: (1) Expect core portfolio to improve or atleast maintain share with potentiality of stronger growth led by part reversal in trend towards clean shave (2) Women’s razor & shave care portfolio offers delta through penetration led growth (3) We hope GILL’s brand equity & global expertise to help play catch-up in electric segment where it has been a laggard (4) Global mix and margin profile shows potential for Gillette’s India grooming business (5) Latest quarter’s performance suggest improving growth (6) Even after recent run-up (up ~25% in last 3 months), valuations remain lower than median.

30 Aug 2023, 11:47:33 AM IST

Sensex Today LIVE: Gokaldas Exports shares hit new 52-week high

Shares of Gokaldas Exports zoomed 9% in early trade on Wednesday and hit a fresh 52-week high, a day after the company said it has entered into an agreement through its wholly-owned subsidiaries to acquire UAE-based Atraco Group.

The scrip touched a 52-week high of 817.70 and 817.20 on NSE and BSE, respectively.

30 Aug 2023, 11:30:20 AM IST

Sensex Today LIVE: India to start critical mineral blocks auction process this year

India is preparing to start the auction process for some 100 critical mineral blocks in the next four months, as part of plans to secure domestic supplies of the raw materials needed to fuel the green energy transition, Bloomberg reported.

The blocks are for minerals including nickel, lithium, cobalt and platinum, along with rare earths, Mines Secretary Vivek Bharadwaj said in an interview in New Delhi.

“The legal framework has been laid out and the blocks have been identified," Bharadwaj said. The tender seeking bids is expected to be out by December and auctions may start three months later, he added.

30 Aug 2023, 10:52:20 AM IST

Sensex Today LIVE: Ramkrishna Forgings bags order worth 8.25 million euros from European OEM

30 Aug 2023, 10:33:28 AM IST

Sensex Today LIVE: India bond yields ease after US peers plunge: Reuters

Indian government bond yields were trading lower in the early session on Wednesday as U.S. yields continued their slide decline after weak economic data increased bets that the Federal Reserve's higher policy rates may not sustain for much longer.

The benchmark 7.26% 2033 bond yield was trading at 7.1611% as of 10:15 a.m. IST, after ending the previous session at 7.1880%, a trader with a private bank said.

U.S. yields dropped to three-week lows on Tuesday after data showed job openings in July fell more than expected, to their lowest level since March 2021, with the labour market gradually slowing.

The Labor Department report also showed the number of people quitting their jobs dropped to levels last seen in early 2021, indicating that Americans were becoming less confident in the labour market.

The 10-year yield inched towards 4.10%, more than 25 basis points (bps) lower than the 16-year high levels touched last week. The odds of a rate hike in September have eased further.

In India, traders will keep an eye on the domestic inflation trajectory, especially after the government's move to cut cooking gas prices.

30 Aug 2023, 10:03:16 AM IST

Share market updates | Rupee rises 11 paise to 82.69 against US dollar in early trade: PTI

30 Aug 2023, 09:53:39 AM IST

Stock Market Updates | Morgan Stanley picks 1.7% stake in Ami Organics

30 Aug 2023, 09:42:05 AM IST

Share market updates | 10 crore Zomato shares traded at an average of ₹94.70 apiece; total deal value at ₹947 crore

SoftBank’s Svf Growth (Singapore) Pte. Ltd was set to divest a 1.17% stake in Zomato Ltd on 30 August.

30 Aug 2023, 09:33:30 AM IST

Share market updates | Jio Financial Services jumps nearly 5% in opening deals 

Jio Financial Services
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Jio Financial Services
30 Aug 2023, 09:24:09 AM IST

Share market updates | Sensex, Nifty open higher tracking global cues

At open, Sensex was up 296.51 points at 65,372.33, and the broader Nifty added 85.40 points to 19,428.10. About 1,566 stocks advanced, 390 declined, and 99 were unchanged.

30 Aug 2023, 09:06:13 AM IST

Share market updates | Sensex higher in pre-open tracking Asian cues

Sensex check
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Sensex check
30 Aug 2023, 08:58:41 AM IST

Share market updates | SoftBank to sell 1.17% stake in Zomato

SoftBank’s Svf Growth (Singapore) Pte. Ltd is set to divest a 1.17% stake in Zomato Ltd on 30 August. The deal is expected to fetch 940 crore ($114 million) for the Japanese investor.

According to the term sheet reviewed by Mint, on 30 June, Svf Growth held a 3.42% stake in Zomato. This stake was subject to a 12-month lock-in following Blinkit’s acquisition, that concluded on 25 August. The transfer of the stake from SoftBank to Zomato happened in connection with Zomato’s acquisition of the quick commerce company in 2022.

The floor price of the block deal block deal, according to the document, is 94 apiece, or a 0.7% discount from Tuesday’s closing price on the BSE. The sale is being managed by Kotak Securities Ltd on behalf of the investors.

30 Aug 2023, 08:33:50 AM IST

Share market updates | Oil prices rise on large US stockpile draw, hurricane jitters

Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S., the world's biggest fuel consumer, and as concerns about a hurricane in the Gulf of Mexico kept investors on edge, Reuters reported.

Brent crude futures for October rose 17 cents, or 0.2%, to $85.66 a barrel. The October contract expires on Thursday and the more active November contract was at $85.08 a barrel, up 17 cents.

U.S. West Texas Intermediate crude futures gained 24 cents, or 0.3%, to $81.40, logging its fifth session of gains.

Both benchmarks rallied more than a dollar a barrel on Tuesday as the U.S. dollar slid after the prospects of further interest rate hikes eased following softer U.S. job data. A weaker greenback makes dollar-denominated oil less expensive for investors holding other currencies, boosting demand.

30 Aug 2023, 08:13:06 AM IST

Share market updates | Nifty 50 outlook: Reliance Securities 

NIFTY-50 continues to trade in a sluggish range with minor gains trending in its range of 19,250-19,400 over the past 3 days.

An either side breakout could be expected in the coming days which will give the next directional move from current levels.

RSI is piercing upwards to cross the average line on the hourly and daily charts indicating the higher probability of a upward breakout. 

Highest call OI is at 19,500 strike while on the downside the highest put OI has moved to 19,300 at the money for the monthly expiry

30 Aug 2023, 08:02:37 AM IST

Share market updates | JSW may buy Ford’s shut Chennai plant

The Sajjan Jindal-led JSW Group is in advanced talks to acquire the shuttered Chennai factory of Ford Motor Co. for its planned entry into electric-vehicle (EV) space, two people aware of the matter said.

“Talks started a couple of months earlier and are in an advanced stage now, and the company is speaking to both the state government and Ford," one of the persons said on condition of anonymity.

Spread over 350 acres, the Ford factory has an annual production capacity of around 200,000 vehicles and 340,000 engines. The plant has been shut since July 2022. The Tamil Nadu government is also keen that it finds a new owner who can restart production. (Read here)

30 Aug 2023, 07:52:20 AM IST

Share market updates | Stocks to Watch

Zomato, Maruti, ONGC, HeroMoto Corp, Lupin are among stocks that will be in focus today.

30 Aug 2023, 07:48:36 AM IST

Share Market updates | Asia advances as data signals potential Fed rate hike pause

Asian equities were largely higher on Wednesday as China’s largest banks reportedly prepare to cut interest rates, and investors speculate that the Federal Reserve is nearing the end of its tightening campaign.

In Tokyo, the benchmark Nikkei 225 index rose 0.56%, while the broader Topix index climbed 0.46%. Hang Seng Index jumped 0.95%, while the Shanghai Composite Index added 0.27%. Shenzhen Composite Index also edged up. Australia's S&P/ASX 200 index climbed 0.9%.

Overnight, US shares climbed the most since June and bond yields retreated after job openings fell by more than expected, offering fresh evidence that labor demand is slowing in the world’s largest economy, taking pressure off the Fed. Separate data showed consumer confidence dropped amid souring views on jobs, higher borrowing costs and lingering inflation.

All three major US stock indexes ended the session sharply higher, as investors looked ahead to crucial economic data due later this week that could sway the Federal Reserve's interest rate decisions in the coming months.

The Dow Jones Industrial Average rose 292.69 points, or 0.85%, to 34,852.67, the S&P 500 gained 64.32 points, or 1.45%, to 4,497.63 and the Nasdaq Composite added 238.63 points, or 1.74%, to 13,943.76.

European shares had closed at a two-week high with a boost from the mining sector as Beijing's recent policy moves to jump-start China's languid economy fueled demand hopes.

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