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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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
Topics : Budget and Markets
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First Published: Aug 13 2024 | 1:38 PM IST