Latest Stock Market News

Nifty ended the holiday-shortened week with a 1% gain, powered by IT and consumer durables. Key factors for the upcoming trading week include global cues, Jackson Hole symposium, corporate actions, and FII/DII activities. Analysts project potential upside for Nifty while cautioning about a critical gap at 24,200 that could signal lower levels if breached.

During the week ending August 16, the Sensex gained approximately 1%, with nine penny stocks under a market cap of Rs 1000 crore and priced below Rs 20 rising between 10% and 21%. Significant gainers included Gemstone Investments and PVV Infra, highlighting notable price surges in the range mentioned.

The company announced to the stock exchanges that it has allocated 1,994,288 shares to anchor investors at Rs 900 per share on Friday. Out of these, 716,592 shares, valued at approximately Rs. 64.49 crore, were allocated to 3 domestic mutual funds across 8 schemes. This represents 35.93% of the total anchor investor allocation.

Wall Street’s rapid descent into volatility has been matched by an equally swift recovery. The S&P 500 saw its largest weekly gain since November, junk bonds made a week of gains, and Treasury yields stabilized. Illustrating this dramatic turnaround, the VIX Index, a key measure of market fear, experienced both the quickest surge of 25 points or more and the fastest recovery from that peak, according to UBS Group AG.

Within the largecap segment, 15 companies saw substantial block deals amounting to Rs 5,077 crore. IndiGo topped the list with 4 block deals valued at Rs 1,351 crore. Other notable deals involved Infosys (Rs 786 crore), HDFC Bank (Rs 402 crore), TCS (Rs 398 crore), Reliance Industries (Rs 390 crore), TVS Motor Company (Rs 294 crore), and Cholamandalam Investment & Finance (Rs 255 crore).

Rajesh Palviya of Axis Securities highlighted a strong rally in the IT sector, particularly in stocks like Infosys and TCS. He also discussed opportunities in midcap IT stocks such as Coforge and Mphasis. Alongside, he suggested Tata Motors, ITC, and ICICI General Insurance as promising investments for short-term gains based on technical analysis.

​This indicates higher investor interest in these stocks.

A notable trend this quarter was the shrinking disparity in domestic consumption between high-end and mass markets. This was observed as growth in luxury segments like passenger vehicles, hotels, and jewellery decelerated. In contrast, the FMCG sector stabilised, and durables experienced a robust quarter, largely attributed to the heatwave, according to the Nuvama note.

Defense and railway stocks corrected due to high valuations, while US and Asian markets showed strong performance, easing economic and geopolitical concerns. New-age stocks such as Zomato and Paytm saw gains, whereas PSU stocks declined. The market shifted focus to future profitability and growth potential, affecting investment trends.

Trendlyne data reveals a compelling opportunity for income-focused investors: 10 stocks within the BSE smallcap and midcap indices have delivered dividend yields as high as 30.17% over the past year.