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Closing Bell: Sensex Down 270 Points, Nifty Dips Below 24,500; M&M, RIL, Infosys, Adani ENT Top Losers
Stock Market Live Updates: As of 2 PM on Friday, the Sensex was trading at 80,078.81, down 1.76 points or 0.0022%, while the Nifty stood at 24,481.60, slipping 19.30 points or 0.079%. On the Nifty index, Shriram Finance emerged as the top gainer, rising 2.37%, followed by ITC with a 2.10% gain and Trent up 1.50%. Other notable gainers included Bharat Electronics and Larsen & Toubro, both adding over 1%. On the flip side, M&M led the losers' pack, tumbling 3.01%, while Infosys, Apollo Hospitals, JSW Steel, and Adani Enterprises also declined.
Nifty and Sensex started the Indian stock market on a weak note on Friday as investors remained cautious about the developments related to US tariffs. However, the GST reform proposal supported the market sentiment. Nifty 50 opened below 24,500, and Sensex was down around 69 points at the time of stock market opening today.
Earlier, Gift Nifty had indicated a weak start of the stock market today, as investors continue to remain cautious about the development around US tariffs. Gift Nifty earlier started in green with a surge of around 11 points, but it was trading 25 points lower at 8:18 am.
The Indian stock market closed on a weak note on Thursday, with the Sensex falling 700 points and the NSE falling around 211 points. "Indian equity benchmarks continued its losing streak on August 28th, with Nifty settling near the 24,500 marks, reflecting continuation of the selling pressure. Last two sessions sharp decline can be attributed to the implementation of the 50% US tariff on Indian goods, which has heightened worries about India's export competitiveness and trade relations. While domestic institutional investors (DIIs) provided some support by stepping in as net buyers, the persistent FII outflows and amplified the impact of the US tariffs, leading to a broad-based selloff. At close, the Sensex was down 705.97 points or 0.87% at 80,080.57, and the Nifty was down 211.15 points or 0.85% at 24,500.90," noted Bajaj Broking in its report.
Closing Bell: Sensex Down 270 Points, Nifty Dips Below 24,500; M&M, RIL, Infosys, Adani ENT Top Losers
Closing Bell: Sensex Down 270 Points, Nifty Dips Below 24,500; M&M, RIL, Infosys, Adani ENT Top Losers
Swiggy Shares Drop 3.5%
Food delivery giant Swiggy shares fell nearly 3.5% intraday on Friday, August 29, slipping to Rs. 406.15 after opening with marginal gains. The stock has been highly volatile in recent trading sessions, even as the benchmark indices are moving in a largely range-bound manner.
Most Active Stocks
Currently, the stock market is seeing heavy trading activity, with OLA Electric, RBL Bank, Eternal, Waaree Energies, BSE, Godfrey Phillips, Apollo, and Reliance emerging as the most active stocks.
Vikran Engineering IPO Subscription Closes Today
Vikran Engineering IPO has been subscribed by around 8.6 times. The IPO issue has been subscribed by around 7.4 times in the retail category, 1.02 times in the QIB (ex-Anchor) category and 21.51 times in the NII Category, according to Chittorgarh.com on Friday till 11:30 am.
Market Outlook Today By Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
A significant takeaway from the market trend yesterday is that despite the big buying of Rs 6920 crores by DIIs, overwhelming the FII selling of Rs 3856 crores, Nifty drifted down by 211 points. The reason for this important market trend is the increasing short build up by the FIIs. The negative sentiments in the market triggered by the 50% Trump tariff and the high valuations in India has encouraged the FIIs to increase their short positions. September series historically has been known for big moves. A quick decision on the tariff policy can lead to reversal of sentiments and short covering. We don’t know whether this will happen. The policy initiatives in India - the fiscal stimulus through the Budget, monetary stimulus through rate cuts and the coming GST rationalisation- should revive economic growth and corporate earnings in India in the coming quarters. That is when we will have a fundamentally supported rally in the market. Investors can utilise the dips in the market to buy fairly-valued stocks and wait patiently in anticipation of the rally.
Nifty Prediction Today By Anand James, Chief Market Strategist, Geojit Investments Limited
Two consecutive days with Marubozu pattern reflects the bear grip, keeping the 24071-23860 objectives in play. However, the turn lower five days back from the upper bollinger band has now stretched 2.6% with just another 0.7% left for the lower band. We favour yet another reversal attempt, but will wait for a push beyond 24700 to play a 24870 move. Downside marker may be placed near 24470. Slippage below the same could expose 24300 initially, but a collapse is less expected today.
Sector Update: Electronic Manufacturing Services | Still tariff-free, but not yet risk-free
“While uncertainty looms over the US tariff situation globally, we have attempted to summarise the current scenario and the ramp-up in India’s smartphone exports. We focus on: (1) The current tariff structure, levy on electronics and why it may not hurt India’s interests, (2) A deep-dive into the Section 232 investigation, which considers electronics as products of strategic importance, (3) India’s progress in smartphone exports over the years, as it surpasses China to become the largest smartphone exporter to the US, and (4) Potential scenarios and why high chances of a longer exemption cannot be ruled out,” said Shalin Choksy of JM Financial Institutional Securities Limited.
Company Update: PVR INOX | Admit’tedly Strong
India’s box office is on a roll. July, with GBOC of INR 14.3bn (+50% MoM), was the best month of the year – till now. Coolie (INR 3bn+) and War 2 (INR 2.5bn+), released only in mid-Aug, have ensured momentum likely held up in August as well. An even stronger pipeline ahead (Exhibit 6) – Jolly LLB 3, Dhurandhar, Avatar, Border 2 – makes management’s target of 150mn+ admits in FY26 increasingly probable, despite the steep ask (10% YoY from 2Q-4QFY26). Near term strength aside, some of the structural concerns are fading too. 2025 global box office estimate of USD 34.9bn (+14% YoY), highest since pandemic, indicate admissions globally are on a rebound. With only 12% of the movies in 2024 released directly on OTT, down from 33% in 2022 (Exhibit 9), economic importance of theatrical releases is getting re-established. PVR Inox’s more efficient operations (both cost and capital) mean these improving exogenous factors should translate into better cash flow and return metrics. Flat Rights-of-use assets/screen, lower increase in gross PPE/screen and sharp decline in CWIP in FY25 point to a more frugal capital/cost model, driving better FCF. Market has largely ignored that, resulting in FCF yield rising to c.5% (Exhibit 28), +1-SD above long-term mean. That makes current valuations attractive. BUY.
Stock Market Live: Which Bank Stocks To Buy For Maximum Gain? Motilal Oswal Shares Top Picks
Stock Market Live: Brokerage Motilal Oswal has shared top picks in the banking sector for investors to make long-term gains. “ We further estimate earnings to recover to 17% CAGR over FY26-28E. The potential recovery in earnings in 2HFY26 will mark an end to the multi-year earnings deceleration cycle. Top ideas: ICICIBC, HDFCB, and SBIN,” noted Motilal Oswal in its report.
Stock Market Live: Which Stocks Are Major Losers, Major Gainers?
Stock Market Live: Trent, Kotak Bank, ITC, Shriram Finance, Asian Paints, etc are among the top Nifty 50 gainers. WHereas, M&M, Bajaj Auto, Infosys, Dr Reddy’s were among the top laggards.
Stock Market Live Updates: Nifty 50 Above 24,500, Sensex Up 72.49 Points, Trent, Kotak, ITC Top Gainers
Stock Market Live Updates: Nifty 50 Above 24,500, Sensex Up 72.49 Points, Trent, Kotak, ITC Top Gainers
Stock Market Live: Nifty Opens Below 24,500, Sensex Down 69 Points, Bank Nifty Flat
Stock Market Live: Nifty Opens Below 24,500, Sensex Down 69 Points, Bank Nifty Flat
Will Bank Nifty Continue To Decline Today? Check Technical Analysis
"Bank Nifty formed a sizable bear candle with a lower high and lower low signaling continuation of the corrective decline. Index has recently generated a breakdown below the last 3 weeks range (54,900-56,100) highlighting extension of the decline. Going ahead, failure to move above 55,000 will keep the bias down and will open downside towards 53,500-53,000 levels in the coming sessions. Key support is placed at 53,500-53000 levels being the confluence of the 200 days EMA and the low of May 2025," as per Bajaj Broking report.
Stock Market Live: Nifty Outlook For The Day
"The index formed a second consecutive sizable bear candle with a lower high and lower low signaling continuation of the corrective decline. Index in the process filled the last Monday’s gap area and closed below the 100 days EMA. Going ahead to pause the current down trend the index needs to start forming higher high and higher low in the daily chart, failure to do so will keep the bias down. Nifty has immediate support base placed at 24,400-24,350 levels being the confluence of the recent lows and the key retracement area. Index holding above the same will lead to a consolidation in the range of 24,400-24,900. While failure to do so will signal acceleration of decline towards 24,000-23,800 levels being the confluence of the 52 weeks EMA and the previous major lows and the previous major breakout area," stated Bajaj Broking in its report
Stock Market Live: Gift Nifty Indicates Weak Start of The Stock Market Today
Stock Market Live: Gift Nifty on Friday indicated a weak start of the stock market.
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