SGX Nifty Up 84 Points, IDBI Bank Stake Sale, the Latest on BPCL's Privatisation, and Top Buzzing Stocks Today

Thu, 25 Aug Pre-Open

   Previous Close   

   10:30 am   

   Closing   

On Wednesday, Indian share markets ended on a flat note amid volatility.

Benchmark indices turned volatile in the afternoon session yesterday but most of the losses were recovered in the last hour of trade as realty stocks rallied.

At the closing bell on Wednesday, the BSE Sensex stood higher by 54 points.

Meanwhile, the NSE Nifty closed higher by 27 points.

Apollo Hospital, IndusInd Bank, and ONGC were among the top gainers.

BPCL, Divis Lab, and Tata Steel on the other hand, were among the top losers.

Broader markets ended on a positive note. The BSE Midcap index ended up by 0.8% while the BSE Smallcap index ended higher by 0.7%.

Sectoral indices ended on a mixed note with stocks in the realty sector and telecom sector witnessing maximum buying.

On the other hand, stocks in the IT and oil & gas sector witnessed selling interest.

Shares of Lakshmi Machine, SKF India, and Adani Transmission hit their 52-week high.

Since you're interested in high flying stocks, check out our guide on how to pick the best multibagger stocks in 2022.

At 8:05 AM today, the SGX Nifty was trading up by 84 points or 0.5% higher at 17,700 levels.

Indian share markets are headed for a positive opening today following the trend on SGX Nifty.

The rupee was trading at 79.8 against the US$.

Gold prices for the latest contract on MCX were trading flat at Rs 51,410 per 10 grams, at the time of Indian market closing hours yesterday.

Of late, gold price is falling while silver isn't far behind. Silver price is also falling as industrial demand for silver is under pressure while a stronger US dollar is adding to worries.

Speaking of stock markets, chartist Brijesh Bhatia does a complete analysis of today's market and what to expect today, in the video below.

Top Buzzing Stocks Today

BPCL share price will be among the top buzzing stocks today.

According to reports, BPCL divestment process is unlikely to restart this year.

Sources said a fresh discussion on new terms and conditions for the divestment has not started yet as the oil ministry is skeptical about getting a good response in the current geopolitical situation.

The government had in May this year withdrawn its offer to sell its entire 52.98% stake in BPCL, saying that majority of bidders expressed their inability to participate in the privatisation process due to prevailing conditions in the global energy market.

Apart from that many issues raised by investors in the previous discussions still are not addressed.

IDBI Bank share price will also be in focus today.

India's government is considering selling at least 51% of IDBI Bank.

Officials in the government and the state-backed Life Insurance Corp, which together own about 94% of IDBI Bank's shares, are in talks about how much of their stakes they plan to sell.

Both parties are expected to retain a stake in the lender after the sale.

A panel of ministers will make the final decision on the structure of the deal. The government and LIC will formally seek to gauge buyer interest as soon as the end of September.

Market participants will also track shares of Infosys.

Infosys Technologies has taken up around 5 lakh square feet of office space in Bengaluru's Northgate for a monthly rent of around Rs 23 m, documents accessed by Propstack shows, as IT workforce returns to offices across the country.

The lease deed, signed between Modern Asset and Infosys, is for a period of 10 years beginning 1 June 2022.

DreamFolks IPO receives strong response

The initial public offering (IPO) of DreamFolks Services was fully subscribed within hours of opening for subscription on Wednesday.

The issue is open till Friday, 26 August.

The company is selling its shares in the range of Rs 308-326 apiece to raise Rs 5.6 bn through its initial stake sale.

The issue is entirely an offer for sale (OFS) of up to 1,72,42,368 equity shares with a face value of Rs 2 each by its promoters Liberatha Peter Kallat, Mukesh Yadav and Dinesh Nagpal.

Ahead of its IPO, Dreamfolks Services raised Rs 2.5 bn from anchor investors as it allotted 77.6 m shares to anchor investors at a price of Rs 326 apiece.

Chinese EV maker enters Indian market

BYD, the world's largest electric vehicle company by volumes, plans to enter the Indian mainstream EV market with an electric SUV in the upcoming festive season.

BYD is a company backed by legendary investor Warren Buffett. The company overtook Tesla this year and is planning to assemble vehicles in Sriperumbudur, near Chennai.

Note that several Chinese vehicle makers have struggled to set up manufacturing bases due to the government of India's extra screening of investments from the neighbouring country.

In response to a specific question about obtaining clearance from the Indian government to expand its business in the country, the company said it does not require any clearance for its existing infrastructure.

Oil above US$100

Brent crude oil prices climbed above US$100 a barrel on Wednesday after Saudi Arabia suggested this week that OPEC could consider cutting output in response to poor liquidity in the crude futures market and fears about a global economic downturn.

Contracts for both crude futures had soared on Tuesday and touched three-week highs on Wednesday after Saudi Energy Minister Prince Abdulaziz bin Salman flagged the possibility of cutting production.

A US official on Monday said that Iran had dropped some of its main demands in negotiations to resurrect a deal to rein in Tehran's nuclear programme.

OPEC+ is already producing 2.9 million barrels per day less than its target, complicating any decision on cuts or how to calculate the baseline for an output reduction.

As crude oil heads higher, check out these companies which stand to gain big from rising crude oil.

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

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

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers