Sensex Today Ends 57 Points Lower | Nifty Below 24,350 | Inox Wind Rallies 20%, RVNL 11%

Mon, 12 Aug Closing

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   Pre-Open   

   10:30 am   

After opening the day on the lower, Indian benchmark indices continued the fall as the session progressed but ended the day lower.

After starting on the backfoot on Monday amid the Hindenburg-SEBI row, Indian benchmarks - BSE Sensex and NSE Nifty - pared initial losses to end Monday's choppy session on a flat note.

At the closing bell, the BSE Sensex stood lower by 57 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 22 point (down 0.1%).

ONGC, Infosys and Axis Bank among the top gainers today.

SBI, NTPC and Adani Ports on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,346, down by 37 points, at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended marginally lower and BSE SmallCap index ended flat.

Sectoral indices were trading mixed, with socks in IT sector, oil & gas sector and realty sector witnessed buying speer. Meanwhile stocks in power sector and FMCG sector witnessed selling pressure.

Shares of Trent, GSK Pharma and Lupin hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.96 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% higher at Rs 70,161 per 10 grams.

Meanwhile, silver prices were trading 1.3% higher at Rs 81,600 per 1 kg.

Speaking of the stock market, Rahul Shah the co-head of research at Equitymaster in his latest video talks about delves into a fascinating debate sparked by a recent reunion with friends.

Amidst the nostalgia and cozy vibes of the gathering, an unexpected topic emerged-investing based on astrology.

While some were convinced of its profitability, Rahul remained steadfast in his belief that fundamental analysis is the key to successful investing.

Tune into below video dive into the world of stocks and uncover whether it's more art or science.

Suzlon Energy Hits Upper Circuit

In news from the energy sector, shares of Suzlon Energy hit 5% upper circuit to scale a multi-year high of Rs 80.36 on NSE on August 12.

The multibagger stock, which crossed the market capitalisation milestone of Rs 1 trillion (tn) last week, has clocked returns of 47% in just the last month.

The stock is trading at its highest level since March 2010.

Suzlon shares are trading higher for a fourth straight session after the global renewable energy solutions provider executed definitive agreements for the acquisition of a 76% stake in Renom Energy Services Private Limited (Renom), in two tranches, from the Sanjay Ghodawat Group (SGG).

According to the international brokerage, the acquisition of Renom Energy Services marks a strategic entry into the multi-brand Operations and Maintenance Services (OMS) sector.

The acquisition will expose Suzlon to new sites, potentially benefiting from emerging repowering opportunities.

The company's operations include design development and manufacturing of all major components, including rotor blades, tubular towers, generators, control equipment, gears, and nacelles.

Hindustan Zinc Clarifies on Special Dividend Report

Moving on to news from the aluminium sector, Hindustan Zinc on 12 August issues a clarification on the report of the company doling out Rs 60 bn in special dividend to its shareholders this month.

The clarification comes after ET reported, citing sources, that Hindustan Zinc's board is likely to meet over the next two weeks to decide on the payout, said one of the sources. Hindustan Zinc declined to comment.

The special dividend, which translates into a payout of Rs 14.2 per share for shareholders, will be in addition to the regular annual dividend.

Further, as per the report, Vedanta, which holds a 64.9% stake in Hindustan Zinc, will receive Rs 38.9 bn in the event of the dividend payout. The company may use the special dividend to cut debt.

The government with a 29.5% stake is expected to receive Rs 17.7 bn.

To this, HZL added that there is no information which has not been announced to the stock exchanges and which should have been announced by the Company in terms of the SEBI

Coffee Day Tanks 17%

Moving on to news from the hotel sector, Coffee Day's share prices nosedived over 17% in the 12 August session on the back of last week's insolvency order by the National Company Law Tribunal.

After declining 19% in early trade, the stocks recovered slightly to Rs 39.21 apiece.

Last week, the Bengaluru bench of the NCLT initiated bankruptcy proceedings against Coffee Day Group's parent company Coffee Day Enterprises Ltd.

Coffee Day. The insolvency has been initiated under the rules of the Insolvency and Bankruptcy Code (IBC).

A quorum of technical member Manoj Kumar Dubey and judicial member K Biswal has appointed an interim resolution professional to take over the operations of the CDEL.

According to the official order, Ashish Chhawchharia has been appointed as the IRP. Meanwhile, IDBITSL has been ordered to deposit Rs 2 lakh to cover the expenses that the IRP will have to bear towards inviting claims and issuing public notices among other things.

Last year, NCLT Bengaluru admitted an insolvency plea against CDEL on July 20 over a petition filed by IndusInd Bank.

However, NCLAT stayed that a month later on 11 August 2023. Later, both parties reached a settlement.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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