Sensex Today Ends 148 Points Higher | Nifty Above 24,800 | Eureka Forbes Rallies 10%

Thu, 22 Aug Closing

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   10:30 am   

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

Benchmarks BSE Sensex and NSE Nifty50 indices were listless on Thursday as investors stayed on the sidelines ahead of the US jobless claims data and the Jackson Hole Symposium late today.

At the closing bell, the BSE Sensex stood higher by 148 points (up 0.2%).

Meanwhile, the NSE Nifty closed higher by 41 point (up 0.2%).

Bharti Airtel, Tata Steel and Apollo Hospital among the top gainers today.

Wipro, NTPC and M&M on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,848, up by 33 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 0.7% higher and BSE SmallCap index ended 0.5% higher.

Sectoral indices were trading mixed with socks in metal sector and telecom sector witnessed buying speer. Meanwhile stocks in power sector and oil & gas 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 83.94 against the US$.

Gold prices for the latest contract on MCX are trading 0.1% higher at Rs 71,770 per 10 grams.

Meanwhile, silver prices were trading 0.1% higher at Rs 84,960 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 Nucleus Software Share Price is Falling

In news from the AI sector, Nucleus Software Export's share price declined over 7% after the company board approved a share buyback plan on August 22. This will be the third buyback for Nucleus after 2017 and 2021.

The company informed the exchanges of the buyback plan for up to Rs 723.5 m.

The buyback has been fixed at Rs 1,615 per equity share.

The board of directors of the company at its meeting held today also fixed Tuesday, 3 September as the record date to determine the eligibility of shareholders to participate in the Buyback.

The company with a dividend yield of 0.9% at the current levels distributed a final dividend of Rs 12.5 per share to its shareholders, in July this year.

It's an Indian IT company in the banking and financial services sector. It offers IT and consultancy services serving a variety of sectors of the banking industry.

BEML Stock Jumps 3% Today. Here's Why

Moving on to news from the defence space, shares of BEML gained over 3.5% on 22 August after the firm said it has inked a Memorandum of Understanding (MoU) with the Directorate of Marine Engineering, Indian Navy.

Aligned with the Government of India's Aatmanirbhar Bharat initiative, the partnership aims to strengthen self-reliance in defence production and minimize reliance on foreign imports.

The equipment covered under this MoU will leverage BEML's inherent strengths in heavy engineering, structural fabrication, hydraulics, diesel engines, manufacturing, testing, and R&D to bolster India's maritime assets.

Separately, Malaysia's SMH Rail Sdn Bhd and BEML have also signed a Memorandum of Understanding (MoU). Under the MoU, BEML and SMH Rail will pool their resources to enhance capabilities in marketing, manufacturing, and maintenance, repair, and overhaul (MRO) services.

The collaboration aims to expand the reach of both companies across Malaysia, Southeast Asia, and Africa, focusing on the marketing, supply, and servicing of rail and metro products.

Dabur Signs MoU with Tamil Nadu Government

Moving on to news from the FMCG sector, Dabur India plans to start its first manufacturing facility in South India by investing Rs 4 bn in the next 5 years.

The home-grown FMCG major has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for the project with an approved Phase 1 investment of Rs 1.4 bn, scaling up to Rs 4 bn over a period of 5 years.

The facility, which will be will be set up in SIPCOT Tindivanam, Tamil Nadu is expected to generate direct employment for around 250 people, besides creating thousands of indirect job opportunities.

This investment will allow us to better serve the growing demand for our products in South India and strengthen our market presence in the region.

This will be amongst Dabur's most-modern and environment-friendly manufacturing facilities with the capacity to manufacture a range of Dabur's products for the South market.

Dabur India Ltd is one of India's leading FMCG Companies. The company reported an 8.3% rise in consolidated net profit at Rs 4.9 bn in the first quarter ended June 2024.

It had posted a consolidated net profit of Rs 4.6 bn in the same quarter last fiscal.

Consolidated revenue from operations in the quarter under review was at Rs 33.5 bn as against Rs 31.3 bn in the year-ago period.

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

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