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POST-MARKET REPORT
The Indian benchmarks, the Nifty 50 and the 30-stock Sensex failed to hold on to early gains and ended the session on August 27 on a flat note.
At close, the Sensex was up 13.65 points or 0.02 percent at 81,711.76, and the Nifty was up 7.20 points or 0.03 percent at 25,017.80. About 2,036 shares rose, 1,746 fell, and 86 were unchanged.
The biggest Nifty gainers were SBI Life Insurance, HDFC Life, Bajaj Finserv, Maruti Suzuki, and Shriram Finance, while losers included JSW Steel, Titan Co, HUL, Tata Motors and Coal India.
Among sectors, FMCG was the worst hit as it slipped over 1 percent, followed by energy, automobiles, and metals, which were down 0.1-0.6 percent. On the other hand, banks, pharma, and realty indices rose 0.2-0.8 percent.
As for the broader market, the midcap as well as smallcap indices outperformed the benchmarks and rose around 0.5 percent each.
STOCKS TODAY
Medi Assist Healthcare: Shares surged 7.55 percent after the company announced its wholly-owned subsidiary Medi Assist Insurance TPA will acquire a full stake in Paramount Health Services & Insurance TPA for Rs 311.8 crore.
Tata Elxsi: Shares of the Tata Group company zoomed 16.5 percent in trade, riding on the back of heavy trading volumes in the counter. With this, the stock not just extended its upward trend to the fourth straight session, but also gained over 22 percent in just two days.
Minda Corporation: The stock fell 7 percent on account of profit booking. So far this month, the stock has gained over 20 percent and is now seen trading in overbought condition based on the RSI (Relative Strength Indicator). Analysts expected the share price to correct a little after the recent rally.
Granules India: The share price declined 1.4 percent amid reports of a surprise inspection currently underway at a key facility of the company. The inspection has been underway at the Granules’ facility in Gagilapur, Hyderabad since Monday, reported CNBC TV18 citing sources.
Bharat Electronics: Shares of the state-run defence equipment manufacturer fell 1.8 percent due to profit booking. The stock has rallied 125 percent in the last year and has risen around 65 percent so far in 2024. Technical analysts believe that the stock is structurally positive and currently moving sideways, but there’s no need to worry.
Zee Entertainment: Share price jumped 11.6 percent today after the media firm said it has entered into an agreement to settle all disputes with Sony regarding the termination of the merger.