Indian equity indices ended the week on a lower note; Sectoral Indices ended mixed; Broader market indices ended with losses

POST MARKET

Indian equity indices ended the week on a negative note, snapping a six-day gaining streak, with all-round selling across sectors barring media and pharma.

At close, the Sensex was down 693.86 points or 0.85 percent at 81,306.85, and the Nifty was down 213.65 points or 0.85 percent at 24,870.10. About 1693 shares advanced, 2208 shares declined, and 143 shares were unchanged.

M&M, Bharat Electronics, Maruti Suzuki, Bharti Airtel, Titan Company were among the major gainers on the Nifty, while losers were Asian Paints, Grasim Industries, Adani Enterprises, Hero MotoCorp, UltraTech Cement.

Among sectors, the media index rose 1%, and the pharma index added 0.4%, while metal, IT, FMCG, oil & gas, PSU Bank, Private Bank, and realty fell 0.5-1%.

Among the broader indices, ended lower for the second consecutive day.

STOCKS TODAY

Vodafone Idea

Stock price jumped over 9 percent, after a report said that the Prime Minister’s Office (PMO) is set to take a call on a relief proposal for the telecom major. PMO had received an informal note from the Department of Telecommunication (DoT), proposing multiple relief options for the debt-ridden telecom company, Mint reported, citing people familiar with the matter.

Asian Paints

The shares of paint, tyre and oil marketing company (OMC) Asian Paints dropped nearly 2.5 percent in trade on August 22 as oil prices rose. This comes as the Russia-Ukraine war continues to escalate, with hopes of US-brokered peace talks seeming to fade.

Nazara Technologies

Shares slipped another 4 percent after it said its associate firm, Moonshine Technologies, which operates PokerBaazi and other card-based platforms, has ceased offering online games played with money. The firm sees no impact on its revenue or EBITDA since Moonshine’s revenue is not consolidated in the company’s financial statements.

Apollo Micro Systems

Shares rallied 15 percent to reach a new 52-week high of Rs 236.45 on the BSE. The surge in the stock price follows an announcement that the company has been declared the lowest bidder for orders worth Rs 25.12 crores from DRDO (Defence Research and Development Organisation) and other Defence PSUs (Public Sector Undertakings).

Mazagon Dock Shipbuilders

Shares slipped over 2 percent after brokerage firm JPMorgan believed that shares still have more downside in store, despite the stock having corrected 27 percent from its recent peak. The stock has declined during Friday’s trading session.

Source – Money Control