Sensex Today Ends 102 Points Higher | Nifty Above 24,750 | Nykaa Rallies 10%

Wed, 21 Aug Closing

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   Pre-Open   

   10:30 am   

After opening the day on the higher, Indian benchmark indices remained the same as the session progressed but ended the day higher.

Sensex and Nifty traded on a flat note on Wednesday as investors paused after a four-session rally. At the closing bell, the BSE Sensex stood higher by 102 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 84 point up (0.3%).

Cipla, Titan and HDFC Life among the top gainers today.

Tech Mahindra, Tata Steel and ONGC on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,809, up by 91 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 0.9% higher and BSE SmallCap index ended 0.5% higher.

Sectoral indices were trading mixed with socks in metal sector and healthcare sector witnessed buying speer. Meanwhile, the stocks in realty sector and power sector witnessed selling pressure.

Shares of HDFC AMC, Trent and Colgate 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 83.92 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 71,780 per 10 grams.

Meanwhile, silver prices were trading 0.4% higher at Rs 85,030 per 1 kg.

Speaking of the stock market, taking some profits off the table to prepare for a market correction is never a bad idea.

Rather, at Equitymaster, we always recommend readers to ensure they have funds to buy more stocks when valuations correct.

That is precisely why Research Analyst, Tanushree Banerjee have been recommending Equitymaster subscribers to sell partial exposures in stocks that have met target prices.

Tune into below video for what should you not sell.

Why Reliance Power Share Price is Rising

Moving on to news from the power sector, Reliance Power shares soared 21.5% in the last four trading sessions to touch its new peak at Rs 36.17 in Wednesday's session after reported talks of Adani Power to acquire its 600 MW Butibori Thermal Plant.

According to the report, Adani Power is in conversation with Vidarbha Industries Power, a division of Reliance Power, for this acquisition that is expected to be valued between Rs 24 bn and Rs 30 bn, which equates to approximately Rs 4 crore to Rs 50 m per MW.

Acquiring the project would enable India's leading private thermal power producer to leverage the growing demand for electricity in the country.

Currently, CFM ARC is the sole creditor of the project, having purchased its loans for Rs 12.7 bn. According to the report, the official mentioned above said that the entire deal would be funded through the internal accruals of the Adani Group.

Why NHPC Share Price is Falling

Moving on to news from the power sector, NHPC shares fell over 1% to Rs 95.2 on August 21 after a major landslide in East Sikkim caused significant damage to the 510-MW hydroelectric project on the Teesta River.

The full extent of the damage to the power station is still being assessed, especially since the dam has been non-operational since October 2023 following flash floods.

The landslide affected the Tail Race Tunnel gate hoist structure and part of the GIS building. However, reports suggest that the underground powerhouse, where electricity generation occurs, was not directly impacted.

NHPC has dispatched an expert team from its corporate office to evaluate the damage, assess losses, and plan for remedial work.

The Teesta Dam is a key source of hydroelectric power for the region, and the damage could lead to power shortages, affecting thousands of residents. The findings of the investigation could have significant implications for regional infrastructure development policies.

NHPC is the government of India's flagship hydroelectric generation company. The company is primarily involved in generation and sale of bulk power to various power utilities.

Orient Technologies IPO fully Subscribed

Moving on, Orient Technologies, an information technology (IT) solutions provider, opened its Rs 2.1 bn initial public offering (IPO) for subscription on 21 August. The issue was fully subscribed to within an hour of opening.

So far, the retail investors were at the forefront, subscribing to 5.14x of their reserved portion. The non-institutional investor's portion followed next after it was bought 1.81 times.

Meanwhile, QIBs or qualified institutional buyers were yet to subscribe to the issue.

The Rs 2.1 bn IPO will close for subscription on 23 August. The price band for the issue has been fixed at Rs 195-Rs 206 per share.

The IPO is a combination of fresh issuance of shares worth Rs 1.2 bn and an offer-for-sale of 46 lakh equity shares worth Rs 947.6 bn by promoters.

The company that provides IT infrastructure, IT-enabled services, and cloud & data management services will spend Rs 103.5 m out of the net fresh issue proceeds for the acquisition of office premises in Navi Mumbai, Rs 796.5 m for capital expenditure requirements, and the remaining amount for general corporate purposes.

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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