Share Market Highlights: Nifty ends below 19600, Sensex dips 100 pts; Bank Nifty above 44950, Cipla gains, Adani Ent falls

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Tuesday’s session in red amid negative global cues. The NSE Nifty 50 dipped 26.45 points or 0.13% to 19,570.85 and BSE Sensex plunged 106.98 points or 0.16% to 65,846.50. In sectoral indices, Bank Nifty rose 126.95 points or 0.28% to 44,964.45, Nifty IT gained 0.15%, Nifty PSU Bank skyrocketed 3.37%, Nifty Pharma soared 0.64% while Nifty Auto fell 0.31%, Nifty FMCG dropped 0.28%, Nifty Metal sank 1.17% and Nifty Realty dipped 0.18%. The top gainers on Nifty 50 were SBI Life, Hero MotoCorp, Cipla, Tech Mahindra and Wipro while the leading laggards were Adani Enterprises, Hindalco, Mahindra & Mahindra, Divis Lab and JSW Steel.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Highlights

15:35 (IST) 8 Aug 2023 Nifty, Sensex end in red

The NSE Nifty 50 dipped 26.45 points or 0.13% to 19,570.85 and BSE Sensex fell 106.98 points or 0.16% to 65,846.50.

12:50 (IST) 8 Aug 2023 Volume Gainers

OnMobile Global, The Ruby Mills, Pansari Developers, Banco Products (I), Techindia Nirman, Gland Pharma, Celebrity Fashions, Paramount Communications, ADF Foods, DELPHI WORLD MONEY, Rategain Travel Technologies, Vipul, Ravinder Heights, Tainwala Chemical & Plastic (I), and Bayer Cropscience were among the volume gainers.

12:50 (IST) 8 Aug 2023 Stocks at 52-Week Lows

Ideaforge Technology, Johnson Controls – Hitachi Air Conditioning India, NIIT Learning Systems, Orissa Bengal Carrier, Accuracy Shipping, Bkm Industries, Brooks Lab, Godha Cabcon & Insulation, Goyal Aluminiums, Piramal Pharma, Sintex Plastics Technology, SREI Infrastructure Finance, Shree Ram Pro, Vaxtex Cotfab, Viji Finance, and Vinny Overseas were among 17 stocks that hit 52-week lows today.

12:50 (IST) 8 Aug 2023 Stocks at 52-Week Highs

Action Construction Equipment, ADF Foods, Ahluwalia Contracts (India), Albert David, Alembic Pharmaceuticals, Apollo Micro Systems, Arvind, Aurobindo Pharma, Bal Pharma, Banco Products, Black Box, BEML, Birla Cable, BLS International Services, BSE, BIRLASOFT, Caplin Point Laboratories, Centum Electronics, Cipla, Chaman Lal Setia Exports, CSL Finance, Deep Industries, Den Networks, Dixon Technologies (India), Dr. Reddy’s Laboratories, Elgi Rubber Company, Eris Lifesciences, Everest Industries, FDC, Foseco India, Genus Power Infrastructures, GE T&D India, Gujarat Industries Power Company, GMR Airports Infrastructure, Graphite India, Grasim Industries, Gufic Biosciences, Hisar Metal Industries, Hindprakash Industries, Himadri Speciality Chemical, Housing & Urban Development Corporation, Indian Bank, Indian Hume Pipe Company, Indraprastha Medical Corporation, Ind-Swift Laboratories, Ingersoll Rand (India), Inox Wind, Indian Railway Finance Corporation, ITD Cementation India, ITI, Inox Wind Energy, Jai Balaji Industries, Jash Engineering, J.Kumar Infraprojects, JTL Industries, Kennametal India, Kirloskar Brothers, Kewal Kiran Clothing, Kolte – Patil Developers, Kothari Petrochemicals, Kalyani Steels, The Karnataka Bank, Likhitha Infrastructure, L&T Technology Services, Lumax Auto Technologies, Manappuram Finance, MMP Industries, The Motor & General Finance, Mstc, Muthoot Finance, Natco Pharma, NBCC (India), Neuland Laboratories, NGL Fine-Chem, NIIT Learning Systems, NINtec Systems, Niraj Cement Structurals, NLC India, One Point One Solutions, Orient Cement, Paramount Communications, Patel Engineering, Peninsula Land, Power Finance Corporation, PTC India Financial Services, The Phoenix Mills, Pix Transmissions, PB Fintech, Poonawalla Fincorp, Railtel Corporation Of India, Rategain Travel Technologies, Raymond, REC, Religare Enterprises, Responsive Industries, Ramkrishna Forgings, Sah Polymers, Sahyadri Industries, Sakar Healthcare, Sandhar Technologies, Sanghi Industries, Sanghvi Movers, Sat Industries, Shyam Metalics and Energy, Sundaram Brake Linings, Supreme Industries, Syngene International, Talbros Automotive Components, TARC, TCPL Packaging, Texmaco Rail & Engineering, Tourism Finance Corporation of India, and Tilaknagar Industries were among the 134 stocks that hit 52-week highs today.

12:49 (IST) 8 Aug 2023 HDFC Bank, IRFC, Gland Pharma, Zomato among most active stocks

HDFC Bank, Indian Railway Finance Corporation, Gland Pharma, Zomato, Dixon Technologies (India), REC, Power Finance Corporation and SBI were among the most active stocks on the NSE.

12:49 (IST) 8 Aug 2023 Bank Nifty, Pharma, PSU Bank jumps; IT, FMCG, Auto fall

In sectoral indices, Bank Nifty jumped 113.60 points or 0.25% to 44,951.10, Nifty Pharma gained 0.10% and Nifty PSU Bank soared 1.03% while Nifty IT slipped 0.07%, Nifty FMCG fell 0.52%, and Nifty Auto tumbled 0.45%.

12:27 (IST) 8 Aug 2023 India leads global markets in number of IPOs listed in CY23; 8th in issue proceeds

Indian stock exchanges, NSE and BSE have taken the first spot globally in terms of the number of IPOs and 8th in terms of issue proceeds, said an EY report. The report focused on India’s secondary markets that captured the leading position worldwide for IPO count and an 8th spot in terms of issue proceeds during the year-to-date. 

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12:20 (IST) 8 Aug 2023 Gland Pharma stock jumps 20% today after revenue grows 41% on-year in Q1

Gland Pharma share price jumped 20% to Rs 1612.60 and hit the upper circuit today after the pharma company reported a 41% rise in first-quarter revenue boosted by the acquisition of Cenexi. Revenue came in at Rs 1,208.6 crore in Q1FY24 against Rs 856.89 crore in the year-ago period. However, the company’s net profit fell 15.3% on-year to Rs 194.1 crore, compared to Rs 229.1 crore in the corresponding quarter of the previous year. Brokerages hold mixed views on the stock. Gland Pharma shares have gained 54% in the past one month and have fallen over 30% in the past one year.

Should you buy, sell or hold GLAND?

10:27 (IST) 8 Aug 2023 FTSE set to increase HDFC Bank’s weightage in its indices across 3 tranches

As the reverse merger of Housing Development Finance Corporation (HDFC) with HDFC Bank completed, the investability weight of the private lender grew to 1.52% from 0.81%. Index aggregator FTSE Russell said the weightage would be implemented across three tranches by March 2024. 

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10:20 (IST) 8 Aug 2023 Godrej Consumer Products stock tanks 2% after PAT falls 7.6% in Q1

Godrej Consumer Products share price tumbled 1.9% to Rs 1,011.05 today after the company’s net profit fell 7.6% to Rs 318.82 crore in Q1FY24 compared to Rs 345.12 crore in the year-ago period. It posted revenue from operations at Rs 3,448.91 crore, up 10.4% as against Rs 3,124.97 crore during the same period last year. Analysts at Nuvama and Motilal Oswal have recommended a ‘Buy’ rating on the stock. GCPL stock has fallen over 4% in the last one month while it has risen 17% in the past one year.

Should you buy or sell GCPL shares?

09:20 (IST) 8 Aug 2023 Nifty, Sensex open in green

The NSE Nifty 50 gained 22.55 points or 0.12% to 19,619.85 and BSE Sensex rose 46.36 points or 0.07% to 65,999.84.

09:11 (IST) 8 Aug 2023 Nifty, Sensex end pre-open in green

Domestic indices ended the pr-opening session in the green. The NSE Nifty 50 rose 29.90 points or 0.15% to 19,627.20 and BSE Sensex gained 95.33 points or 0.14% to 66,048.81.

08:48 (IST) 8 Aug 2023 Bank Nifty support at 44500; resistance at 45100

“Bank Nifty is currently in a consolidation phase, with a visible support level of 44,500 and a resistance level of 45,100. Traders should consider utilizing opportunities presented within this range to establish positions according to their respective strategies. A clear directional move is anticipated only after a decisive breakout on either side of this range, as this would potentially indicate a stronger and more sustainable trend,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.

Share Market Outlook Today

08:48 (IST) 8 Aug 2023 Bank Nifty expected to trade with negative bias and target 44000

“Bank Nifty traded within the range of the previous trading session and closed in the red. It has thus formed an Inside Bar pattern on the daily charts which makes the extremes of the pattern i.e. 45,1118 and 44,520 crucial levels from a short-term perspective. A breach of these levels on either side shall lead to a move in that direction. Considering the price and momentum setup, we expect the index to trade with a negative bias and target levels of 44,000 from a short-term perspective,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

Share Market Outlook Today

08:48 (IST) 8 Aug 2023 Nifty could retest 19450-19425 if it falls below 19500

“For traders, 19,500 would be the key support level, and above the same the Nifty could move up to 19,650 or 20-day SMA (Simple moving average). In case the market appreciates further, the index could rally to 19,725. On the flip side, below 19,500, the uptrend would be vulnerable and the index could retest the level of 19,450-19,425,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.

Share Market Outlook Today

08:47 (IST) 8 Aug 2023 Nifty to target 19100 in short-term

“The pullback still appears corrective in nature and this is unlikely to sustain at higher levels. It has reached the 61.82% Fibonacci retracement level (19,605) of the fall from 19,795–19,296 which is likely to provide resistance. Also, the hourly momentum indicator has reached the equilibrium line indicating that the pullback has matured and can start a new cycle. Overall, we still shall continue to maintain our negative stance on the Nifty, and we expect levels of 19,100 from a short-term perspective,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

Share Market Outlook Today

08:47 (IST) 8 Aug 2023 Bearish gap of 19678-19705 crucial hurdle for Nifty

“Nifty’s overall trend seems upbeat as the index hopped over the 20 SMA again. As far as levels are concerned, the bearish gap of 19,678-19,705 is the crucial hurdle, and it requires an authoritative breach to turn the sentiments to ultra bullish once again. On the flip side, the pivotal support of 19,500 is supposed to cushion any intra-day blip, while strong support lies around the 19,400-19,380 zone in the near period,” said Osho Krishan, Sr. Analyst, Technical & Derivative Research, Angel One Ltd.

Share Market Outlook Today

08:47 (IST) 8 Aug 2023 Nifty resistance at 19700-19750

“Nifty 50 demonstrated resilience as it predominantly remained strong, reclaiming its position above the 21-day Exponential Moving Average (21EMA) after a brief dip below this critical average. Going forward, the level of 19,500 is expected to serve as immediate crucial support. The market’s upward momentum is likely to persist as long as Nifty maintains its position above this support level. On the upper end, potential resistance can be anticipated around the range of 19,700 to 19,750,” said Rupak De, Senior Technical analyst at LKP Securities.

Share Market Outlook Today

08:16 (IST) 8 Aug 2023 Crude prices gain

Oil prices rose in early trade on Tuesday as supply concerns arising from production cuts by Saudi Arabia and Russia supported the market.

08:16 (IST) 8 Aug 2023 US indices end in green

The US market ended Monday’s session in green – Dow Jones Industrial Average (DJIA) jumped 1.16%, S&P 500 soared 0.90% and the tech-heavy Nasdaq zoomed 0.61%.

08:15 (IST) 8 Aug 2023 Asian markets trade in red

Asian markets were trading mostly in red – China’s Shanghai Composite Index tumbled 0.66%, Asia Dow plunged 0.77%, South Korea’s KOSPI fell 0.25% and Hong Kong’s Hang Seng tanked 1.88% while Japan’s Nikkei 225 rose 0.11%.

08:15 (IST) 8 Aug 2023 GIFT Nifty falls 47 pts

The GIFT Nifty futures traded 47 points or 0.24% lower at 19,634 in early morning trade.

08:13 (IST) 8 Aug 2023 Hindustan Copper, Indiabulls Housing Finance, Balrampur Chini Mills, others under F&O ban today

The National Stock Exchange has Hindustan Copper, Gujarat Narmada Valley Fertilizers & Chemicals, Indiabulls Housing Finance, India Cements, Balrampur Chini Mills and Piramal Enterprises securities on its F&O ban list for 8 August. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.

08:12 (IST) 8 Aug 2023 FII/DII data

Foreign institutional investors (FII) sold shares worth net Rs 1,892.77 crore, while domestic institutional investors (DII) bought shares worth net Rs 1,080.80 crore on 7 August, according to the provisional data available on the NSE.

08:09 (IST) 8 Aug 2023 Nifty to top 19,600 or slip in trade? See GIFT Nifty, FII data, F&O ban, crude, more before market opens

“The Indian market began the data-centric week with modest gains, primarily propelled by strong performances in the pharma and IT sectors. Global markets portrayed a mixed picture, with US futures exhibiting positivity in response to a moderation in bond yields, while European markets experienced declines due to weak economic data. Caution prevailed in the market due to the anticipation of upcoming inflation data and the RBI’s monetary policy,” said Vinod Nair, Head of Research at Geojit Financial Services.

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08:08 (IST) 8 Aug 2023 Stocks To Watch: Adani Ports, Paytm, GCPL, HDFC Bank, Inox Wind, Torrent Pharma, Coal India, Ramco Cements

The GIFT Nifty was flat during Tuesday’s early trading session, down by 0.01% at 19,677, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex. On Monday, the Nifty 50 added 80.3 points to close at 19,597.3. On the other hand, Sensex jumped 0.35% to end at 65,953.48.

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