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Sensex Today Trades Flat | Nifty Above 25,100 | Vodafone Idea Down 6%
Fri, 6 Sep 10:30 am

Sensex Today Trades Flat | Nifty Above 25,100 | Vodafone Idea Down 6%Image source: asbe/www.istockphoto.com

Most Asian stocks were hit on Friday as traders remained cautious just ahead of the release of US payroll data, which could set the tone for the September rate cut.The equity benchmark in South Korea fell over 1% during the session's open while Australia's gauge advanced later in trade.

US stocks wobbled on Thursday as investors digested more weaker-than-expected labour market data that could help set expectations for both interest rate cut hopes and the health of the US economy.

Here's a table showing how US stocks performed on Thursday:

Stock/IndexLTPChange ($)Change (%)Day HighDay Low52-Week High52-Week Low
Alphabet158.60.790.50%161.01157.52193.3121.46
Apple222.381.530.69%225.48221.52237.23164.08
Meta516.864.120.80%521.63511.15544.21279.4
Tesla230.1710.764.90%235222.25278.97138.8
Netflix683.623.940.58%687.31671.86711.33344.73
Amazon177.894.562.63%179.88175201.2118.35
Microsoft408.39-0.51-0.12%413.1406.13468.35309.45
Dow Jones40755.75-219.22-0.54%41084.7840519.0841585.2132327.2
Nasdaq18930.338.930.05%19102.3618806.8320690.9714058.33
Source: Equitymaster

At present, the BSE Sensex is trading 13 points lower and NSE Nifty is trading 7 points higher.

Bajaj Finserv, Bajaj Finance and Asian Paints among the top gainers today.

Coal India, NTPC, and SBI 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 marginally lower and the BSE Smallcap index is trading 0.7% higher.

Sectoral indices are trading mixed with stocks in realty sector, IT sector and auto sector witnessing buying. Meanwhile stocks in telecom sector and energy sector witnessing selling pressure

The rupee is trading at Rs 83.95 against the US dollar.

In commodity markets, gold prices are trading marginally higher at Rs 72,000 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...

Speaking of the stock market, Is Kalyan Jewellers the Next Titan?

Not so fast!

In the below video, Rahul Shah Co-head of research at Equitymaster will break down the diamond and jewellery industry, analyze Titan's secret sauce, and assess if Kalyan Jewellers has what it takes to be a wealth creator.

Watch now to discover the truth.

Coal India Aims to Add Capacity

State-owned Coal India aims to add 5 gigawatts (GW) of renewable energy capacity by 2028, a year earlier than the company had envisaged.

Additionally, in its attempt to diversify its green energy portfolio, the company is looking to set up pump storage projects in its exhausted open-cast mines and is in various stages of dialogues with different countries for the acquisition of critical mineral assets.

Nanda informed that the company has commissioned 150 megawatts (MW) of solar capacity with another 450 MW under various stages of completion, slated to be commissioned by FY25 end.

Besides this, Coal India is also working on the acquisition of critical minerals to be used in lithium-ion batteries and other sectors. The company won one of the graphite mines in Madhya Pradesh by auction. Besides domestic exploration, CIL has also identified critical mineral assets in Argentina, Bolivia, Chile, Australia, and Africa.

CIL is primarily looking for exploration and production of lithium, nickel, cobalt, molybdenum, graphite, phosphates and potash.

Besides this, Coal India is also working on acquiring critical minerals to be used in lithium-ion batteries and other sectors. The company won one of the graphite mines in Madhya Pradesh by auction. Besides domestic exploration, CIL has identified critical mineral assets in Argentina, Bolivia, Chile, Australia, and Africa.

CIL is primarily looking for exploration and production of lithium, nickel, cobalt, molybdenum, graphite, phosphates and potash.

Nucleus Software's Buyback

Nucleus Software on Thursday announced a share buyback worth Rs 723.5 m, aiming to repurchase nearly 4.5 equity shares or 1.7% of its total equity capital.

The buyback price is set at Rs 1,615 per share, which represents an almost 20% premium over the last traded price of Rs 1,347.1 on Thursday.

The repurchase will be conducted through a "tender offer" process, compliant with SEBI Buyback Regulations. The buyback represents 9.9% of the company's total paid-up equity capital and free reserves, based on audited financial statements as of 31 March 2024.

This marks Nucleus Software's third buyback, following similar initiatives in 2017 and 2021. The previous buyback in 2021 was priced at Rs 700 per share.

The surge in buybacks by more than 17 companies since July 23 reflects new tax regulations introduced in Budget 2024.

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.

Headquartered in Noida, the company operates in over 50 countries, offering IT and consultancy services across various segments of the banking industry.

Nucleus Software Share Price Performance - 1 Year

Max Financial Services' Stake Sell

Max Ventures Investment Holdings, a promoter entity of Max Financial Services, on Thursday divested a 3.2% stake in the company for Rs 12.2 bn through an open market transaction.

Analjit Singh-Singh Promoted Financial Services Ltd (MFSL), a part of the Max Group, is the holding company for Max Life Insurance.

According to the bulk deal data available on the National Stock Exchange (NSE), Max Ventures Investment Holdings sold a total of 11,000,000 shares amounting to a 3.2% stake in Noida-based Max Financial Services.

After the latest transaction, the combined shareholding of promoters in MFSL has declined to 3.3% from 6.5%.

Details of the buyers of Max Financial Services' shares could not be ascertained.

In August last year, Max Ventures Investment Holdings, one of the promoters of Max Financial Services, offloaded a 3.6% stake in the company for Rs 10.9 bn.

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


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