Stock Market LIVE: HDFC Bank, Tata Motors pull Sensex down 350 pts;
Stock Market LIVE updates today, August 13, 2024: In the broader markets, the BSE MidCap index slipped 0.31 per cent, and the BSE SmallCap index fell 0.34 per cent
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Stock Market LIVE updates today, Tuesday, August 13, 2024: Indian benchmark indices, the BSE Sensex and NSE Nifty50 were trading lower on Tuesday.
The Sensex index was quoting at 79,319, down over 300 points, while the Nifty50 index was at 24,244, down 103 points or 0.42 per cent.
HDFC Bank was the top laggard on the Sensex, down 3 per cent, after the latest MSCI rebalancing announcement said the weight of the lender would be increased in two tranches against expectations of one single push.
On the filip side, Titan, Sun Pharma and HCL Tech were the top gainers on Sensex.
In the broader markets, the BSE MidCap index slipped 0.31 per cent, and the BSE SmallCap index fell 0.34 per cent.
Among sectors, the Nifty Financial Services, Nifty Realty and Nifty Private Bank index were down up 1, while Nifty Consumer Durable index was up by 1.72 per cent.
MSCI Rebalance: August review
Shares of RVNL, Vodafone Idea, Dixon Technologies, Oil India, Prestige Estates, Oracle Financial and Zydus Lifesciences will be included in the MSCI India Index as part of the latest rejig.
Bandhan Bank is the only Indian stock that will be excluded from the index.
The Sensex index was quoting at 79,319, down over 300 points, while the Nifty50 index was at 24,244, down 103 points or 0.42 per cent.
HDFC Bank was the top laggard on the Sensex, down 3 per cent, after the latest MSCI rebalancing announcement said the weight of the lender would be increased in two tranches against expectations of one single push.
On the filip side, Titan, Sun Pharma and HCL Tech were the top gainers on Sensex.
In the broader markets, the BSE MidCap index slipped 0.31 per cent, and the BSE SmallCap index fell 0.34 per cent.
Among sectors, the Nifty Financial Services, Nifty Realty and Nifty Private Bank index were down up 1, while Nifty Consumer Durable index was up by 1.72 per cent.
MSCI Rebalance: August review
Shares of RVNL, Vodafone Idea, Dixon Technologies, Oil India, Prestige Estates, Oracle Financial and Zydus Lifesciences will be included in the MSCI India Index as part of the latest rejig.
Bandhan Bank is the only Indian stock that will be excluded from the index.
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On the filip side, Titan, Sun Pharma and HCL Tech were the top gainers on Sensex.
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The northward rally in the stock came on the back of the company's strong financial results for the first quarter of the fiscal year 2023-24. During the quarter ended June 30, 2024, Senco Gold's consolidated net profit jumped 82 per cent year-on-year (YoY) to Rs 51 crore, compared to Rs 28 crore reported in the corresponding quarter of the previous fiscal year.
Senco Gold shares climb over 9% on healthy Q1FY25 results, growth outlook
Senco Gold shares rally: Shares of Senco Gold, a gems and jewellery maker, climbed 9.18 per cent to Rs 1,131.45 on the BSE during intra-day deals on Tuesday. This was just 4 per cent shy of its 52-week high of Rs 1,176, which it hit on June 28 on the BSE.
The northward rally in the stock came on the back of the company's strong financial results for the first quarter of the fiscal year 2023-24. During the quarter ended June 30, 2024, Senco Gold's consolidated net profit jumped 82 per cent year-on-year (YoY) to Rs 51 crore, compared to Rs 28 crore reported in the corresponding quarter of the previous fiscal year.
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Indus Towers to buyback shares worth Rs 2,640 crore: Exchange filing
Indus tower in an exchange filing said that it is set buyback of up to 5,67,74,193 shares of the company representing approximately 2.107 per cent of equity of the company. The company will buyback shares at a Rs 465 per share, payable in cash for an aggregate amount up to Rs 2,640 crore on a proportionate basis. The share buyback opens on August 14, and closes on August 21, the company said.
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Balrampur Chini stock nears record high, gains 5% on stable Q1 performance
Shares of Balrampur Chini Mills hit an over two-year high at Rs 519.70, surging 5 per cent on the BSE in Tuesday’s intra-day deals after the company delivered a stable performance for the June 2024 quarter (Q1FY25). The company reported improvement in volumes and realizations in the sugar segment that supported its overall performance. With adequate sugar stocks in India, analysts expect resumption of ethanol-blending program as was the case until Sugar Season (SS) 23.
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Is HDFC Bank stock a good bet after MSCI August Review? What analysts say
Analysts, on their part, are of the view that long-term investors could continue to hold the stock, irrespective of the MSCI development, as the lender is one of the largest banks in India. In the near-term, however, investors should expect a sideways movement in the stock. READ MORE
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Nifty Midcap 150 soars: Profit and market cap have doubled in 5 years
"The Nifty Midcap 150 index has seen a substantial 207% increase in profit after tax to Rs 2.05 lakh crore from June 2019 to June 2024, while its market capitalisation has grown at 360% to Rs 82.5 lakh crore. This period has also seen significant diversification with over 240 meaningful IPOs, collectively exceeding $1 billion in market capitalisation," noted Mirae Asset
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Insurance stocks in focus :: GST Council to meet on Sept 9, to start discussion on rate rationalisation
After the previous Council meeting on June 23, Sitharaman had said the next meeting of the GST Council the Group of Ministers (GoM) on rate rationalisation under Bihar Deputy Chief Minister Sumant Chaudhary, will give a presentation on the status of the work and aspects covered by the panel and work pending before the panel.
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Marico resumes normal manufacturing ops at Bangladesh plants; stock up 3%
Marico share price today rose 3.1 per cent to Rs 665.55 per share on the BSE on Tuesday after the company shared an update regarding its operations in Bangladesh. At 12:55 PM, Marico share price was quoting at Rs 666, up 1.88 per cent, on the BSE. By comparison, the benchmark BSE Sensex was down 330 points, or 0.76 per cent,
at 79,319 level.
at 79,319 level.
Photo: Bloomberg
Topics : Budget and Markets
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First Published: Aug 13 2024 | 1:38 PM IST
