equity benchmark Sensex and Nifty Both ended in the red on Friday – the bears kept pulling down Dalal Street. The broader Nifty market ended 0.71% lower at Rs 16450, while the 30-share BSE Sensex closed 0.54% lower at Rs 55329. Last week, FMCG and IT were the biggest gainers, while metal, media, PSU banks and realty were the biggest losers. Also this week, global concerns such as the Fed’s lack of massive stimulus, the spread of the delta version, and the impact of of china Regulatory tightening will have an impact on Indian markets.
Vinod Nair, Head of Research, Geojit Financial Services, 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 to gain momentum. Global growth is also a cause for concern keeping volatility high” Hence, this week, according to analysts, the rally in the Indian stock market may take a break in the short term but any downside should be used to buy. However, they expect weakness in small and midcaps to continue in the form of BSE Midcap and Smallcap.
Nifty futures was trading 144 points higher at Rs 16549 on the Singapore Exchange at 7.20 am as compared to its previous close of Rs 16,405.
Here are some stocks that will be in the news today:
Nuvoco View: One of the largest building material company is going to debut in the market today. Nuvoco Vista is a cement manufacturer that is part of the Nirma Group. It is scheduled to start on Monday, August 23, 2021 on both NSE and BSE
HDFC bank: The largest private sector lender has approved 5.2 per cent acquisition agreements in fintech start-up Mintok Innovation for Rs 10.27 crore.
Adani Enterprise: Capital markets regulator Securities and Exchange Board of India has “postponed” oil major Adani Wilmar Ltd’s initial public offering of Rs 4,500 crore.
TTK Prestige: Major kitchen appliance manufacturers stated that they have entered into a long-term agreement with permanent workers at the manufacturing unit in Khardi, Maharashtra.
Eicher Motors: The reappointment of Eicher Motors MD Siddharth Lal has been rejected by the shareholders. According to media reports, the shareholders were against the proposal to increase their salaries by 10%. Eicher Motors will convene 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 India’s regulatory Drug Controller General (DCGI) on Friday.
Aurbindo Pharma: The Hyderabad-based drug manufacturing company said that a Rs 450-crore deal to acquire 51 per cent stake in Cronus Pharma Specialties India Pvt Ltd has been cancelled.
Aptus Value Housing Finance: A home loan provider and is about to debut in the market. Aptus Value Housing Finance has a strong capital sponsorship by leading investors such as Westbridge, Malabar Investments, Sequoia Capital, Steadview Capital and Madison India.
GAIL India: India’s top gas company GAIL will enter hydrogen production with the intention of expanding its renewable energy portfolio. As the company moves beyond the natural gas business to keep pace with India’s energy transition programme.
Bank of Maharashtra: The Government has appointed Lalit Kumar Chandel, Economic Adviser, Department of Financial Services, Government of India as Nominee Director on the Board of Bank of Maharashtra.
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