Stock Market Highlights, Aug 20: Sensex rises 378 pts levels

Stock Market Highlights on August 20: Bajaj Finserv, IndusInd Bank, Tech M, Bajaj Finance, Kotak Bank, and Axis Bank were the top large-cap gainers, rising up to 3.3 per cent

7:02 PM

Zomato shares worth Rs 5,438 cr sold in block deal, Antfin likely seller

Zomato’s shares valued Rs 5,438.50 crore were sold in a block deal on Tuesday, with the deal later being upsized. Antfin Singapore Holding, a subsidiary of Alibaba Group, is believed to be the seller in this transaction, according to a report by Moneycontrol.

7:02 PM

'Easing geopolitical risks & weak China demand have led to fall in crude prices, benefiting domestic economy'

The domestic market started the session with a strong surge, buoyed by positive global sentiment amidst Israel-Hamas ceasefire talks and diminishing US recession fears due to recent favourable data. Concurrently, easing geopolitical risks and weak China demand have led to a decline in crude prices, benefiting the domestic economy. Meanwhile, inflationary pressure in Japan and the appreciating Yen cautioned the rally. This week’s Japan inflation data and FOMC minutes will provide insights into future interest rate trajectories and market trends.

Views by: Vinod Nair, Head of Research, Geojit Financial Services

7:01 PM

Tech View: 'The trend is likely to remain strong as long as Nifty stays above the 24,600-24,650 range'

The Nifty moved above 24,700 after sustaining above 24,600. The trend is likely to remain strong as long as it stays above the 24,600-24,650 range. A decisive fall below 24,600 might trigger a reversal of the current uptrend. On the higher end, the Nifty might move towards 24,840-24,860.

Views by: Rupak De, Senior Technical Analyst, LKP Securities

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