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India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
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- Indian Stock Market News September 4, 2024
Sensex Today Plunges 565 Points | Nifty Below 25,100 | IT Stocks Bleed Wed, 4 Sep 10:30 am
Image source: CreativaImages/www.istockphoto.comAsia-Pacific markets followed the US markets' suit and traded lower. At the last count, Nikkei was down 3.7% and ASX 200 was down 1.9%.
The US markets slumped registering the beginning of one of the market's historically worst months, Dow Jones was down 1.5%, the S&P 500 was down 2.1%, and the Nasdaq Composite was down 3.3%.
Here's a table showing how US stocks performed on Tuesday:
| Stock/Index | LTP | Change ($) | Change (%) | Day High | Day Low | 52-Week High | 52-Week Low |
|---|---|---|---|---|---|---|---|
| Alphabet | 158.61 | -6.5 | -3.94% | 163.38 | 157.85 | 193.3 | 121.46 |
| Apple | 222.77 | -6.23 | -2.72% | 229 | 221.17 | 237.23 | 164.08 |
| Meta | 511.76 | -9.55 | -1.83% | 525.49 | 508.62 | 544.21 | 279.4 |
| Tesla | 210.6 | -3.51 | -1.64% | 219.9 | 209.64 | 278.97 | 138.8 |
| Netflix | 675.32 | -26.03 | -3.71% | 703.86 | 671.01 | 711.33 | 344.73 |
| Amazon | 176.25 | -2.25 | -1.26% | 178.26 | 175.26 | 201.2 | 118.35 |
| Microsoft | 409.44 | -7.7 | -1.85% | 419.88 | 407.03 | 468.35 | 309.45 |
| Dow Jones | 40936.93 | -626.15 | -1.51% | 41489.67 | 40778.09 | 41585.21 | 32327.2 |
| Nasdaq | 18958.73 | -615.9 | -3.15% | 19438.11 | 18869.8 | 20690.97 | 14058.33 |
At present, the BSE Sensex is trading 565 points lower and NSE Nifty is trading 184 points lower.
Asian Paints, BPCL and Apollo Hospital among the top gainers today.
ONGC, Wipro and Infosys the other hand are among the top losers today.
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.
Broader markets are trading on positive. The BSE Midcap index is trading 0.4% lower and the BSE Smallcap index is trading 0.3% higher.
Barring healthcare sector all other sectoral indices are trading on negative note with stocks in IT sector and metal sector witnessing selling pressure.
The rupee is trading at Rs 83.95 against the US dollar.
In commodity markets, gold prices are trading 0.1% higher at Rs 71,472 per 10 grams 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...
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Cipla Approves Directorate Change
Drug major Cipla announced on Tuesday that MK Hamied has resigned from his position as Vice Chairman, effective from 29 October 2024, due to age and health considerations.
In a letter addressed to the Board of Directors, Hamied expressed his deep regret over the decision.
The company also disclosed that the Board has approved the appointment of Kamil Hamied as a Non-Executive Director, effective 1 November 2024.
This move is seen as a step to ensure continuity within the leadership, with Kamil representing the promoter family.
Maruti Suzuki Contributes to PM Cares Funds
Maruti Suzuki India said on Tuesday that it had donated Rs 3 crore to the PM CARES fund for flood relief across various states.
The company's contribution aims to support the government's relief and rebuilding efforts nationwide.
The contribution is a humble gesture to support the government's relief and rehabilitation efforts for affected communities.
Zee Entertainment's 42nd AGM Extended
Zee Entertainment Enterprises Ltd on Tuesday (3 September) said it has received approval from the Ministry of Corporate Affairs, Office of the Registrar of Companies (ROC) in Mumbai, for an extension to hold its 42nd Annual General Meeting (AGM) for the financial year ended 31 March 2024.
The company applied for an extension on 28 August 2024, citing specific grounds, and the ROC Mumbai granted an additional three months for conducting the AGM.
The AGM, originally scheduled to be held by 30 September 2024, as per Section 96 of the Companies Act, 2013, will now be held within the extended timeframe.
The ROC also advised Zee Entertainment to ensure timely compliance with the provisions of the Companies Act, 2013, in the future.
In August this year, Zee Entertainment Enterprises informed that it had agreed to settle all disputes with Sony regarding the termination of the merger. Both Sony and Zee will withdraw all claims against each other.
Both companies will withdraw the respective Composite Schemes of Arrangement from the NCLT and inform the relevant regulatory authorities, terminating the US$ 10 billion deal.
Zee said that it will settle all disputes in relation to, arising out of or in connection with transactions with CMEPL and BEPL. The company said that CMEPL and BEPL have agreed to relinquish all their rights to bring any claim.
Exicom Tele-systems Bulk Deal
RARE Enterprise, a Rakesh Jhunjhunwala entity sold 15.85 lakh shares in Exicom Tele Systems for an average price of Rs 348.6.
Lotus Global Investments Limited sold 51.33 lakh shares in Jindal Stainless for an average price of Rs 730.1.
Goldman Sachs Funds - Goldman Sachs India Equity Portfolio bought 11.56 lakh shares in Medi Assist Healthcare Services for an average price of Rs 611.7.
HDFC Mutual Fund bought 31.06 lakh shares in Medi Assist Healthcare Services for an average price of Rs 611.7.
ICICI Prudential Mutual Fund bought 8.2 lakh shares, Smallcap World Fund Inc. bought 20.59 lakh shares, and Aditya Birla Sun Life Mutual Fund bought 13.1 lakh shares in Medi Assist Healthcare Services.
On the seller side, Novo Holdings A/S sold 5 lakh shares in Medi Assist Healthcare Services for an average price of Rs 611.7.
Bessemer India Capital Holdings II Limited sold 94.9 lakh shares in Medi Assist Healthcare Services for an average price of Rs 611.7.
Legends Global Opportunities (Singapore) Pte. Ltd. sold 11 lakh shares in the Tourism Finance Corporation of India for an average price of Rs 178.4. Connecor Investment Enterprise Limited sold 11 lakh shares in the Tourism Finance Corporation of India for an average price of Rs 178.4.
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
Indian Share Market Update: Top Gainers and Losers
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