Benchmark indices were trading lower in early deals today (August 16). The 30-share Sensex fell 39 points to 65,362 and Nifty lost 28 points to 19,405.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “There are strong headwinds, both globally and domestically, that can impact the market in the near-term. Banking sector, which has been a pressure point for the Nifty is likely to experience more near-term pain. But for long-term investors, the correction can be an opportunity since the sector is doing well and valuations are fair.”
JSW Energy shares rose 5.5% to Rs 364.15 on BSE. Market cap of the firm stood at Rs 58550 crore. Total 212.67 lakh shares of the firm changed hands amounting to a turnover of Rs 727.14 crore on BSE.
Continue viewing BT Visual Story
Catch the latest business news, share market updates, expert analysis and exclusives only on BTTV.in
Shares of renewable energy firm Suzlon Energy rose 2.24% intraday to Rs 20.49 on BSE against the previous close of Rs 20.04. Market cap of Suzlon Energy rose to Rs 25,191 crore. Total 28.16 lakh shares of the firm changed hands amounting to a turnover of Rs 5.72 crore on BSE.
Shares of Tejas Networks, part of the Tata Group, that designs and manufactures wireless networking products, gained over 6% to Rs 869 after the firm said it has received a purchase order worth Rs 7,492 crore for equipment from Tata Consultancy Services, also part of the Tata Group.
Infosys stock rose over 1.5% to Rs 1,419 against the previous close of Rs 1393.65 on BSE after the IT major received an order worth $1.6 billion to evolve and scale Liberty Global's digital entertainment and connectivity platforms. Infosys has been supporting Liberty Global's technology services platforms since February 2020.
IRFC stock rose nearly 3% to a record high of Rs 52.71 against the previous close of Rs 50.90 on BSE. It opened lower at Rs 50.90. Total 91.92 lakh shares of the firm changed hands amounting to a turnover of Rs 47.55 crore on BSE.
Shares of InterGlobe Aviation (IndiGo) fell over 5% to Rs 2,425 today amid a report that the Gangwal family, the promoter group, may sell up to Rs 3,730 crore or $450 million worth shares via block deals. Gangwal family has put 1.56 crore shares on the block with a floor price of Rs 2,400 per share, which is a 5.8% discount to the closing price of Monday.
Shares of Hardwyn India hit an upper circuit of 5% as the company announced its results for the quarter ended on June 30, 2023. Hardwyn India reported a 16% rise in the net profit on a year-on-year (YoY) basis to Rs 1 crore in the June 2023 quarter. Shares of Hardwyn India hit an upper circuit of 5% to Rs 40.99 on Wednesday, commanding a total market capitalization of more than Rs 1,430 crore.
Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position