Market Check Index Current Pt. Change % Change S&P BSE SENSEX 37,634.95 +49.44 +0.13 S&P BSE SENSEX 50 11,914.82 +18.10 +0.15 S&P BSE SENSEX Next 50 34,356.81 +18.64 +0.05 S&P BSE 100 11,686.98 +16.03 +0.14 S&P BSE Bharat 22 Index 3,602.90 -12.80 -0.35 (Source: BSE) ADAG group stocks down COMPANY LATEST PREV CLOSE LOSS() LOSS(%) VOLUME REL. COMM. 16.45 17.20 -0.75 -4.36 6545118 RELIANCE POWER 34.25 34.90 -0.65 -1.86 515992 RELIANCE CAPITAL 403.00 409.95 -6.95 -1.70 277707 RELIANCE INFRA. 441.75 447.20 -5.45 -1.22 125674 RELIANCE NAV.ENG 14.90 14.95 -0.05 -0.33 69133 High realisations to improve NMDC outlook; iron ore volumes to grow 5-6% Mining major NMDC's stock, which had been on a downtrend owing to weak iron prices since the beginning of the year, has bounced back in August with gains of about 30 per cent. The reason is a rebound in international iron-ore prices, strong demand outlook led by rising steel production, and expectations of more price hikes. READ MORE Correction in midcaps: What you need to do to structure your portfolio You do not really need to be a very perceptive analyst to understand that midcaps have corrected sharply since the beginning of the calendar year 2018. There have been various reasons touted for the same. While higher oil prices are being cited as one of the reasons for the midcap crash, the fall in commodities is also a key factor. Then there are technical factors like the introduction of additional special surveillance (ASM) margins, which has hit mid-cap stocks quite badly. The recent Union Budget announcement to impose capital gains on LTCG also led to a rush to book profits ahead of the 31st March deadline. READ MORE Shriram Transport stock: Loan growth led by rural recovery is a positive The stock of Shriram Transport Finance Company (STFC) has been under pressure from issues related to SVL, the holding company of the Shriram Group's non-financial business, which has defaulted on non-convertible debentures (NCD). STFC, which typically funds purchase of used commercial vehicles, had offered a corporate guarantee of Rs 8.7 billion to its holding company. READ MORE Sebi revises share buyback norms; provides clarity on public announcement Markets regulator Sebi has revised the regulations for share buyback to provide more clarity on the requirement to make public announcements. The markets watchdog, separately, said credit rating agencies will not carry out any activity other than the rating of securities offered through public or rights issue. READ MORE
The benchmark indices are trading in a narrow range amid weakness in the global markets.
Among key stocks, Bank of Baroda (BoB) slipped over 14 per cent to Rs 116.10, while Dena Bank hit an upper circuit at Rs 19.05 in intra-day deals on the National Stock Exchange (NSE) after the government on Monday proposed to create the country’s third-largest bank by amalgamating Dena Bank and Vijaya Bank with much larger Bank of Baroda (BoB) in an all-stock deal. The banks’ boards are expected to meet in 10 days to take a call.
In sectoral indices, the Nifty FMCG index is trading over 1 per cent higher led by Hindustan Unilever and Jubilant Foodworks.
(with wire inputs)
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