iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Nifty hovers below 17,350; Sensex down 785 pts

29 Aug 2022 , 02:34 PM

The key equity barometers continued to trade with major losses in the mid-afternoon trade. The Nifty hovered below the 17,350 mark. FMCG and oil & gas stocks advanced while IT, bank and media shares declined. Investor sentiments were dented tracking weak global cues as Fed Chair in his address last week flagged the likely need for restrictive monetary policy to curb high inflation. At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 784.66 points or 1.33% to 58,049.21. The Nifty 50 index lost 232.55 points or 1.32% to 17,326.35. In the broader market, the S&P BSE Mid-Cap index declined 0.87% while the S&P BSE Small-Cap index fell 0.59%. The market breadth was weak. On the BSE, 1,348 shares rose and 2,120 shares fell. A total of 202 shares were unchanged. Numbers to Track: The yield on Indias 10-year benchmark federal paper rose to 7.240 as compared with 7.217 at close in the previous trading session. In the foreign exchange market, the rupee was lower against the dollar. The partially convertible rupee was hovering at 79.9625, compared with its close of 79.84 during the previous trading session. MCX Gold futures for 5 October 2022 settlement shed 0.71% to Rs 50,873. The US Dollar index (DXY), which tracks the greenbacks value against a basket of currencies, added 0.51% to 109.36. In the commodities market, Brent crude for October 2022 settlement rose 32 cents or 0.32% at $101.31 a barrel. Buzzing Index: The Nifty Bank index fell 1.78% to 38,292.35. The index rose 0.09% in the past trading session. Among the components of the Nifty Bank index, Bandhan Bank (down 3.72%), Kotak Mahindra Bank (down 2.52%), Axis Bank (down 2.09%), AU Small Finance Bank (down 2.02%) and State Bank of India (down 1.93%) were the top losers. Among the other losers were Bank of Baroda (down 1.68%), HDFC Bank (down 1.55%), Punjab National Bank (down 1.54%), ICICI Bank (down 1.48%) and IndusInd Bank (down 1.18%). Stocks in Spotlight: Syngene International rose 0.54% after the company incorporated Syngene Manufacturing Solutions (SMSL), a wholly-owned subsidiary of the company on 26 August 2022. SMSL will be engaged in the business of manufacturing of pharmaceutical, biopharmaceutical and biological products of any kind and have its registered office in the state of Karnataka. Praj Industries jumped 3.78% after a domestic broker initiated its coverage on the stock with a buy rating and a target price of Rs 507 per share. The broker added that it anticipates Praj Industries revenue/PAT CAGR at 17.4%/29.3% over FY2022-25E led by robust order book, healthy tender pipeline, strong market leadership, pickup in execution, better operational efficiencies and well managed working capital cycle. Mahindra & Mahindra Financial Services declined 3.58%. The company on Monday announced that it has partnered with CRIF Solutions (CRIF) to offer a seamless onboarding experience for customers seeking loans. CRIF is a global company specializing in credit bureau and business information, outsourcing and processing services, and advanced solutions for credit and open banking. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.