Equity Benchmark Sensex and Nifty both ended in red on Friday- bears continued to pull down the Dalal Street. The broader Nifty market closed at Rs 16450, falling 0.71% while the 30-share-BSE Sensex closed at Rs 55329, falling 0.54%. Last week, FMCG and IT were the main gainers while metals, media, PSU bank and realty lost the most. This week as well, global worries like Fed tapering of massive stimulus, spread of Delta variant, and the impact of China’s regulatory tightening are going to weigh on Indian markets.
Vinod Nair, head of research at Giojit Financial Service said, “In the absence of key domestic economic data points and awaiting its release, the market is expected to continue its focus on global events in order to gain momentum. Global rise in Covid-19 cases is also a cause for worry, keeping the volatility high” So, this week, according to analysts, the rally in Indian stock market may take a pause in the short term but any decline should be used to buy. They, however, expect the weakness in small- and mid-caps to continue as BSE Midcap and SmallCap.
At 7.20 am, the Nifty Futures on Singapore Exchange was trading at Rs 16549, up 144 points, compared to its previous close at Rs 16405.
Here are some stocks that would be in news today:
Nuvoco Vistas: One of the largest building material company is going to make a market debut today. Nuvoco Vistas is a cement manufacturer which is a part of the Nirma Group. It is set to debut on Monday, August 23, 2021, on both the NSE and BSE
HDFC Bank: The biggest private sector lender has given approval to agreements to acquire 5.2 percent in fintech start-up Mintoak Innovations for Rs 10.27 crore.
Adani Enterprise: The capital market regulator Securities and Exchange Board of India has barred Rs 4,500-crore initial public offering of oil major Adani Wilmar Ltd in “abeyance”.
TTK Prestige: The leading kitchen appliances manufacturers told that they have reached a long-term settlement with the permanent workmen at the manufacturing unit at Khardi, Maharashtra.
Eicher Motors: Siddhartha Lal, Eicher Motors MD’s re-appointment has been voted down by shareholders. According to media reports, shareholders were against a proposal to increase his salary by 10%. Eicher Motors will call for a meeting of the board of directors this week.
Cadila Healthcare: On Friday, Ahmedabad based Zydus Cadila’s world’s first needle-free, DNA Covid-19 vaccine received Emergency Use Authorization (EUA) from the regulator Drug Controller General of India (DCGI) on Friday.
Aurbindo Pharma: The Hyderabad based pharmaceutical manufacturing company said its Rs 450-crore deal to acquire a 51 percent stake in Cronus Pharma Specialities India Pvt Ltd has been cancelled.
Aptus Value Housing Finance: A home loan provider and is going to make a market debut. Aptus Value Housing Finance has a strong capital sponsorship by marquee investors like Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital and Madison India.
GAIL India: India’s top gas company GAIL will foray into hydrogen generation with an intent to widen its renewable energy portfolios. As the company is pivoting beyond natural gas business to keep a pace with India’s energy transition programme.
Bank of Maharashtra: The government has appointed Lalit Kumar Chandel, Economic Adviser, Department of Financial Services, as Government of India nominee director on the board of Bank of Maharashtra.
Read all the Latest News, Breaking News and Coronavirus News here
For all the latest business News Click Here
