Quick Wrap: Nifty IT Index records a surge of 1.67%
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Business Standard
28 minutes ago
- Business Standard
Sensex, Nifty snap six-week losing streak after flat Thursday close
Domestic equity benchmarks ended Thursday's session largely flat but managed to snap their longest losing weekly streak since the pandemic began. Gains in banking and technology heavyweights supported the recovery. The benchmark Sensex closed at 80,598, up 58 points or 0.07 per cent. The Nifty 50 ended at 24,631, gaining 12 points or 0.05 per cent. For the week, the Sensex advanced 0.9 per cent and the Nifty rose 1.1 per cent. The recovery was partly driven by short covering from foreign portfolio investors, whose bearish bets had reached multi-year highs last week. Despite these gains, investors remain cautious ahead of the crucial Russia–US presidential meeting scheduled for 15 August in Alaska to negotiate an end to the Ukraine war. A breakthrough could lead to the removal of secondary tariffs recently imposed by the US on Indian goods, which were levied due to India's oil imports from Russia. 'After a volatile weekly expiry-day session, Indian equities ended flat, with investors trading cautiously ahead of the US–Russia summit. IT and pharmaceutical stocks climbed on softer US inflation data and a dovish outlook. Banking and consumer durables gained on hopes of a consumption-led recovery, while metals and energy sectors weakened due to falling commodity prices and oversupply concerns. Near term, the market is expected to trade in a tight range with a mixed bias, awaiting geopolitical developments,' said Vinod Nair, head of research at Geojit Investments. Market breadth was weak, with 2,414 stocks declining and 1,659 advancing. HDFC Bank, up 0.6 per cent, was the biggest contributor to Sensex gains, followed by Infosys, which rose 1.5 per cent. 'The prevailing consolidation suggests markets have largely absorbed recent negatives and are awaiting triggers for recovery. Oversold heavyweights across sectors support this possibility. A decisive Nifty break above 24,800 could spark fresh momentum; otherwise, consolidation will persist. Investors should maintain stock-specific trading with a focus on risk management,' added Ajit Mishra, SVP, research, Religare Broking.
Economic Times
28 minutes ago
- Economic Times
S&P 500, Nasdaq retreat from record rally after hot producer inflation data
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
Mint
an hour ago
- Mint
Penny stock under ₹10 jumps following relief rally in the Indian stock market
Penny stock under ₹ 10: Sarveshwar Foods, a penny stock priced below ₹ 10, jumped in trade on Thursday, August 14, amid a positive trend in the Indian stock market. The stock rose for the second day in a row today. Both the benchmark indices, Sensex and Nifty 50, closed marginally higher in trade today. Indices eked out gains ahead of the Independence day holiday tomorrow and the much-awaited meeting between US President Donald Trump and his Russian counterpart, Vladimir Putin. Sarveshwar Foods shares witnessed strong buying action towards the fag end of the stock market trading session today. The stock, after trading marginally lower through trade today, jumped in late afternoon trade and settled 1.45% higher at ₹ 8.37. The 52-week high for the penny stock stood at ₹ 12.28, and the 52-week low of ₹ 5.63. Sarveshwar Foods shares have risen 21% in the last three months and 17% in the past six months. However, on a year-to-date basis, the scrip is down 6% and for the last one year, it has seen a 7% decline. The penny stock under ₹ 10 has emerged as a multibagger over the past two-year period, delivering a 120% return to its investors. The company recently posted its Q1 results, recording a nearly 133% growth in consolidated profit to ₹ 7.02 crore, compared with ₹ 3.09 crore in the same period last year. Meanwhile, the revenue from operations during the said quarter stood at ₹ 301.34 crore in Q1 FY26, up 29% YoY from ₹ 233.05 crore in the same period last year.
