Sensex Today: Live Stock Market Updates: Sensex Drops 200 Pts, Nifty Below 17,600; NDTV climbs 5%, Adani Power drops 5%

Sensex Today LIVE: Indian stocks were slightly lower on Wednesday, following a tumble across the rest of Asia as inflation concerns crept in ahead of the U.S. Federal Reserve’s much-anticipated annual symposium.

Gains in bank stocks were offset by losses in the energy sector.

Asian stocks were down for an eighth consecutive session marked by uncertainty ahead of Friday’s speech by Jerome Powell, the chairman of the US Federal Reserve.

India‘s stock market is expected to post only minimal gains for the rest of the year amid rising volatility, according to strategists polled by Reuters, who warned that risks from the lackluster outlook were skewed to the downside.

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BPCL divestment process unlikely to restart this year: ET NOW Sources

Goldman Sachs launches a buy call on Affle India with a price target of Rs 1,495; stock up to 5%

Price as of August 24, 2022 10:32Click on company names for their live prices.

Hindalco Industries Chairman Kumar Mangalam Birla said on Tuesday that the company has planned a total investment of about $8 billion over the next five years in its Novelis branch and India. Novelis found potential investment opportunities of $4.5 billion. Birla was speaking at Hindalco’s AGM.

Price as of August 24, 2022 10:18 a.m.Click on company names for their live prices.

DreamFolks IPO: Here’s what the brokerages are saying about it

The Rs 562 crore initial public offering (IPO) of DreamFolks Services kicks off for subscription on August 24, Wednesday. The company is selling its shares in the range of Rs 308-326 each. The majority of brokerages remain positive on the issue due to its asset light model and growth prospects. However, a few of them suggest that the issue price is aggressive and investors should only bid with a long-term view.

Voda Idea, IDFC First Bank, YES Bank among the most active stocks on NSE

Price as of August 24, 2022 09:58Click on company names for their live prices.

Market View: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Regular FII buying, even amid the strengthening dollar, is important from a market perspective. There is now near consensus that India will outperform in the deteriorating global growth environment. Thus, FII entries will be more country-specific rather than geared towards emerging markets.
The short-term market trend will be influenced by comments from Fed Chief Jerome Powell on Friday. If the Fed chief seems ultra-hawkish, that would be a drag on the markets. On the other hand, if he seems optimistic on the growth front and on controlling inflation, that would be a bullish message.

Financial services and capital goods remain investable segments. IT valuations are attractive.

NDTV Hits 5% Top Circuit After Adani Group Takes Stake

Adani Group has launched a tender offer for NDTV, with an open offer to acquire 26% or 1.67 crore additional shares for up to Rs 492.81 crore at a price of Rs 294 per share. Three Adani Group companies have released a public announcement for the Sebi-standards bid.

NDTV Hits 5% Top Circuit After Adani Group Takes Stake

Discover the main sector winners and losers on NSE

Discover the main sector winners and losers on NSE

OPENING BELL: Sensex gains 70 pts, Nifty above 17,600; NDTV climbs 5%, Adani Power drops 5%

OPENING BELL: Sensex gains 70 pts, Nifty above 17,600;  NDTV climbs 5%, Adani Power drops 5%

Rupee opens nearly flat at 79.84 per US dollar from previous close of 79.8625

Rupee opens nearly flat at 79.84 per US dollar from previous close of 79.8625

Technically, Nifty formed a bullish candle on the daily charts that looked like the closing of a piercing line formation. The high and low in the weekly timeframe remain perfectly in place, defining the trend to remain positive. Yesterday, Nifty rebounded strongly from 17,345 levels, coinciding with the 20dma which, going forward, would remain a crucial near-term support zone. On the upside, the current buying momentum may intensify if Nifty provides a decisive close above the 17690-17710 range zone. So during the day, Nifty is likely to open flat to slightly negative, but the overall sentiment remains positive. Therefore, one can initiate a buy position at the lower levels of 17550-17550 for a bullish target of 17800-17860.

– Tirthankar Das, Technical and Derivatives Analyst, Retail, Ashika Stock Broking

Fed’s hawkish comments hit stocks, help dollar

Asian stock markets fell for an eighth straight session on Wednesday, and the dollar weighed heavily as fresh hawkish comments from a Federal Reserve official kept investors cautious ahead of this week’s Jackson Hole symposium.

Oil prices fall as fears of impending OPEC+ production cut recede

Oil prices fell on Wednesday, taking a break from rising nearly 4% the day before as fears faded of an impending production cut by the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+.

SGX Nifty reports a negative start

Nifty futures on the Singapore Stock Exchange traded down 20 points, or 0.11%, to 17,588, signaling that Dalal Street was heading for a negative start on Wednesday.

Tech View: Nifty50 Forms Bullish Piercing Line Pattern, Signals Reversal

On Tuesday, the Nifty50 broke a two-day losing streak and formed a bullish candle on a daily chart. It has also formed a bullish piercing line pattern, which signals a possible reversal. A follow-up buy may suggest a near-term bottom is in place, analysts said.

Tokyo shares open slightly higher ahead of Jackson Hole

Tokyo stocks edged higher on Wednesday in cautious trading after modest falls on Wall Street, with all eyes on a meeting of central bankers in Jackson Hole, Wyoming this week. The benchmark Nikkei 225 rose 0.03%, or 9.72 points, to 28,462.47 in early trading, while the broader Topix index gained 0.04%, or 0.70. points, at 1,972.14.

Wall Street ends lower as investors eye slowing economy

Wall Street ended lower on Tuesday as investors focused on data showing a slowing economy ahead of a U.S. Federal Reserve rally later this week in Jackson Hole, Wyoming.

The rupee ends almost flat against the US dollar

The rupiah edged up 1 paisa to settle at 79.83 against the US dollar on Tuesday amid strong US currency in the overseas market and higher crude oil prices. In the interbank forex market, the local currency opened at 79.85 and saw an intraday high of 79.81 and a low of 79.90 against the US currency.

Sensex, Nifty on Tuesday

After a 2-day hiatus and opening in the red, the 30-pack Sensex shares recouped its losses to settle 257.43 points higher at 59,031.30. Its larger counterpart, Nifty50, advanced 86.80 points to finish above the 17,550 mark.

Hello, dear reader! Here’s something to start your trading day

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