Stock Market Live Updates: Global cues signal negative start for Sensex, Nifty; Asia-Pacific equities hold steady

Pledge Share Details

Apollo Hospitals Enterprise: Promoter K Visweshwar Reddy created a pledge of 1.35 lakh shares on Aug. 21.

Jindal Steel & Power: Promoter Siddeshwari Tradex created a pledge of 2.5 lakh shares on Aug. 18.

Chambal Fertilisers & Chemicals: Promoter Zuari Industries created a pledge of 6.57 lakh shares on Aug. 16.

Insider Trades

Nava: Promoter AV Dwellings bought 15,000 shares on Aug. 18.

KPI Green Energy: Promoter Farukbhai Gulambhai Patel bought 1,500 shares on Aug. 21.

DB Realty: Promoters Ali Gulamali Morani, Karim Gulamali Morani and Mohammed Gulamali Morani sold 10,026, 50,000 and 37,000 shares respectively on Aug. 17.

Greaves Cotton: Promoter Karun Carpets bought 41,668 shares between Aug. 21 and 22.

Som Distilleries & Breweries: Promoter Deepak Arora bought 10,000 shares on Aug. 21.

Ultramarine & Pigments: Promoter S Narayanan sold 14,700 shares on Aug. 21.

Mayur Uniquoters: Promoter Suresh Kumar Poddar sold one lakh shares on Aug. 17. Promoter Arun Kumar Bagaria sold 1.6 lakh shares between Aug. 18 and 21.

Bulk Deals

SJS Enterprises: Evergraph Holdings sold 91.64 lakh shares (29.5%) at an average price of Rs 600.03 apiece and Sanders Consulting sold 1.7 lakh shares (0.5%) at Rs 600.78 apiece. ICICI Prudential MF bought 18.6 lakh shares (6%) at Rs 599.93 apiece while Aditya Birla Sun Life MF bought 17.2 lakh shares (5.5%), Aditya Birla Sun Life

MF bought 17.2 lakh shares (5.5%), Aditya Birla Sun Life Insurance bought four lakh shares (1.3%), Sundaram MF bought 7.6 lakh shares (2.4%), Societe Generale bought 6.7 lakh shares (2.1%), HSBC Global Investment Funds bought five lakh shares (1.6%), Florida Retirement System bought four lakh shares (1.3%), Morgan Stanley bought 2.5 lakh shares (0.8%), Alchemy Emerging Leaders of Tomorrow bought 2.5 lakh shares (0.8%), Alfaccurate Advisors bought 2.4 lakh shares (0.8%) and Quant MF bought 2.3 lakh shares (0.7%) at Rs 600 apiece.

Ganesh Benzoplast: Indresh Bhupendra Shah sold 3.5 lakh shares (0.5%) at Rs 175.01 apiece.

JTL Industries: Mohinder Pal sold 10 lakh shares (1.2%) at Rs 380.83 apiece.

RattanIndia Power: Aditya Birla ARC sold 4.8 crore shares (0.9%) at Rs 4.94 apiece and Altius Finserv bought three crore shares (0.6%) at Rs 4.91 apiece.

Shriram Properties: Omega TC Sabre Holdings sold 39 lakh shares (2.3%) at Rs 78.44 apiece.

IPO Offerings: Aeroflex Industries

Aeroflex Industries: The IPO was subscribed 6.71 times on the first day. The bids were led by non-institutional investors, subscribed 14.10 times, retail investors, subscribed 6.71 times, reserved portion shareholders, subscribed 3.63 times and institutional investors, subscribed 1.17 times.

New Listing: TVS Supply Chain Solutions

TVS Supply Chain Solutions: Shares of TVS Supply Chain Solutions, part of TVS Mobility Group, will be listed at the bourses today., The IPO was 2.78 times, thanks mainly to retail investors. The company has fixed the price at Rs 197, at the upper end of the price band Rs 187-197. The company had raised Rs 880 crore through the issue.

Technicals: Day trading guide for August 23, 2023: Intraday supports, resistances for Nifty50 stocks

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

Stock to buy today: KPR Mill (₹731.20)

The outlook is bullish for KPR Mill. The stock surged over 4 per cent on Tuesday. The rise has taken the stock well above a key resistance level of ₹688. Strong support is now in the ₹700-688 region. The moving averages on the daily charts are giving out positive signals and strengthens the bullish case. As such a fall beyond ₹688 is unlikely.

Stocks to Watch: Sula Vineyards:

Sula Vineyards: Promoter Managing Director and CEO Rajeev Samant has sold 0.99% stake reducing his total stake to 24.98%.

Stocks to Watch: Bharat Forge

Bharat Forge: The validity period for the guarantee provided by the company to its wholly owned step-down subsidiary, Bharat Forge Aluminum USA, has been revised from Nov. 27, 2023 to July 31, 2026. The amount is $15.5 million issued in favour of JP Morgan Bank.

Stocks to Watch: Linde India

Linde India: The company received an LoA from IOCL for setting-up of Air Separation Unit for production and supply of instrument air, plant air and cryogenic nitrogen to IOCL Panipat Refinery Expansion Project. On completion, it will operate and maintain the facility for a period of 20 years. The company will fund the capital expenditure by using internal accruals.

Stocks to Watch: Somany Ceramics

Somany Ceramics: The company entered into a joint venture to operate Cerapro Nepal and acquire a 30% stake in it. CNPL will establish a tile manufacturing facility in Nepal.

Stocks that will see action today: August 23, 2023

Buzzing stocks: Brightcom group, BEML, Adani Total Gas, Jio Financial, Adani Enterprises, Line India, Axiscades, Info, Mphasis, RITES, Bharat Forge, Vodafone Idea, Piramal Enterprises

Stocks to Watch: Zydus Lifesciences

Zydus Lifesciences: The drugmaker will complete the acquisition of 6.5% stake in Mylab Discovery Solutions in next 20-30 days.

Stocks to Watch: Axiscades Technologies

Axiscades Technologies: The company completed the acquisition of GmbH, strengthening its position in the automotive vertical and enhancing its presence in Germany.

Stocks to Watch: Indiamart

Indiamart: The company recieved shareholders’ approval for buyback of 12.5 lakh shares (2.04% stake) at a price of Rs 4,000 (26.9% premium) through a tender offer.

Stocks to Watch: NBCC

NBCC: The company signed an MoU with Delhi Metro to work together in the field of building and infrastructure development in overseas.

Stocks to watch: RITES

RITES: The company emerged as lowest bidder in the tender floated by Railway Board. The order value is Rs 65.4 crore for testing and inspection of 60 lakh MT rails for Indian Railways for a period of five years.

Stocks to Watch: BEML

BEML: The company bagged a Rs 101 crore order from Ministry of Defence (Army) for supply of command post vehicles.

Stocks to Watch: Vodafone Idea

Vodafone Idea: The telecom operator plans to clear about Rs 2,400 crore of dues to the government by September, according to a PTI report. The company will clear dues for the June 2023 quarter and spectrum instalment with applicable interest.

Stocks to watch: Piramal Enterprises:

Piramal Enterprises: The company has approved raising up to Rs 3,000 via non-convertible debentures in one or more tranches.

Stocks to watch: Adani Total Gas

Adani Total Gas: Its unit Adani TotalEnergies E Mobility has partnered with Prakriti E-Mobility to develop electric vehicle charging infrastructure in New Delhi with 200 EV charging point. The partnership will function on a revenue sharing model.

Stocks to Watch: Mphasis

Mphasis: State-run Life Insurance Corporation of India increased its shareholding in the IT company from 4.99% to 5.05% through open market purchases. The acquisition of shares done on August 21 at an average price of Rs 2,343.58 apiece.

Stocks to Watch: Jio Financial Services

Jio Financial Services: The stock hit the 5% lower circuit on Tuesday, as a result of which the scrip will now be removed from all S&P BSE indices on Aug. 29. If JFS continues to hit a lower circuit in the next two days, the removal date will be deferred by another three days.

Stocks To Watch: Brightcom Group

Brightcom Group: SEBI has barred Chairman and Chief Executive Officer Suresh Kumar Reddy and its Chief Financial Officer Narayan Raju from company boards for fraud and allegedly misrepresenting financial statements of the company. They are also barred from disposing off shares of the company until further notice, according to an interim order.

Market pessimism looms amid global uncertainty; Asia-Pacific stocks hold steady

The domestic markets are anticipated to open with a negative bias due to mixed global cues. Despite a varied performance in US markets overnight, Asia-Pacific stocks are generally flat and positive early on Wednesday. The continuous sell-off in US government debt has driven yields on benchmark Treasuries to 16-year highs, notably the 10-year note reaching 4.35%, the highest since November 2007. The increasing bond yields and concerns about potential US rate hikes are causing foreign institutional investors (FIIs) to withdraw funds from the Indian market, contributing to market volatility. While India has seen significant net FII flows and positive returns, challenges lie ahead due to factors like EL Nino’s impact on crops, rising food inflation, and uncertain rainfall outlook. Political risks are also expected to come into play as state and national elections approach. The economy is receiving government-induced capital expenditure, but high inflation could pose challenges in an election year. Market focus remains on specific sectors with strong fundamentals.

Asian equities stagnate amid ebbing Wall Street optimism

Asian stocks traded within narrow ranges as the previous day’s optimism in the Wall Street market waned, particularly following the surge in major technology company shares.

At the beginning of the trading day, there were minimal fluctuations in stock values in Japan and South Korea. Similarly, equities in Australia exhibited little change, and the futures indicating the expected performance of Hong Kong stocks indicated a 0.5% decline.

Investors continue to closely monitor China’s economic and financial challenges, making any indications of additional fiscal or monetary stimulus from Beijing highly appreciated.

In the previous trading session, the S&P 500 experienced a decline of 0.28%, the Dow Jones Industrial Average saw a decrease of 0.51%, and the Nasdaq Composite Index remained relatively stable.

Japanese PMI shrinks

Concurrently, a private sector survey revealed that Japan’s manufacturing activity had contracted for the third consecutive month in August due to elevated oil prices and uncertainty surrounding the global economic landscape. However, the pace of this contraction had eased, as indicated by the au Jibun Bank flash Japan Manufacturing Purchasing Managers’ Index (PMI), which inched up slightly to 49.7 in August from July’s figure of 49.6. It’s noteworthy that the index persisted below the crucial threshold of 50.0, signifying the border between economic contraction and expansion. – Agencies