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Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day
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Summary

Stock Market Highlights: Indian equity benchmarks sank into the red in the final 30 minutes of volatile trade on Thursday, as traders rushed to square off their positions in monthly derivatives (futures and options) contracts due by the end of the session. The India VIX — known in market parlance as the fear index — surged 6.2 percent to settle at 19.6, having surged as much as 9.7 percent during the session. Broader indices were a mixed bag, with the Nifty Smallcap 100 rising 0.5 percent but the Nifty Midcap 100 declining 0.1 percent. Globally, investors remained on the back foot ahead of updates from a key gathering of central bankers at the annual Jackson Hole symposium.

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Nifty50 gained 593 pts in August F&O series 

Here are some highlights of the August series: 

--Headline indices gain for second straight series

--Midcap index rises more than six percent 

--Barring Nifty IT and Nifty Pharma, all sectoral indices rise

--Nifty Metal gains the most, up nearly 10 percent

--38 Nifty stocks rise — Eicher, Bharti Airtel, Bajaj Finserv top gainers

--Divi’s, Sun Pharma and Britannia top Nifty losers 

--REC, RBL, IDFC First Bank, Tata Chemicals, IDFC top non-Nifty F&O gainers

--Intellect, Indus Towers, PVR, Shriram Transport top non-Nifty F&O losers

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

Market At Close | Sensex and Nifty50 make a sharp-U-turn in fag-end of expiry day

Here are some highlights:

--Shree Cement, Hindalco, Divi’s, Eicher and SBI Life top Nifty gainers 

--Bajaj Finance, Cipla, IndusInd, Axis Bank and TCS top Nifty losers

--Bharti Airtel declines after Singtel sells three percent stake in it to Bharti Telecom

--Balkrishna Industries falls two percent following negative brokerage note

--Nippon Life down three percent as stock moves out of F&O from next series

--Adani group stocks slip — Adani Ports and Adani Enterprises fall two percent

--Coromandel drops four percent after government issues new packaging rule for sector

--Market breadth remains in favour of the bulls — advance-decline ratio at 5:4

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

Sensex plunges over 800 pts from day's high and Nifty50 slides below 17,500

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

Rama Steel Tubes shares soar

Shares of Rama Steel Tubes jumped almost five percent to an intraday high of Rs 115 after the company announced its first ever five-for-one stock split. The stock has climbed 56 percent since mid-July. 

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

Like pharma space because of its high cashflow nature, RoE, RoC and pricing power: Abhisar Jain 

Abhisar Jain, Head and Fund Manager at Monarch AIF, tells CNBC-TV18 that he likes the domestic branded generic space within the pharma space because of its high cashflow, high RoE, RoC and pricing power nature. "We also like the CRO and CDMO space wherein global innovators are increasingly outsourcing business to countries like India, where costs are low and the work is good. We also like hospitals in the pharma space," he says. 

Apart from pharma, Jain says Monarch is positive on consumer discretionary-low ticket items like electricals, value, apparel, and wires and cables as the festive season demand could be good. "The wage hikes and the overall economy is doing well. And also we see that there will be some margin tailwinds because the commodities have softened from their recent highs," he adds. 

Jackson Hole Symposium 2022

The meeting starts today (August 25) and will go on till August 27. It will see US Federal Reserve chair Jerome Powell address the current global economic challenges, and it is widely expected that the tone will be "hawkish". (Here's more)

Buy Crompton Consumer, Aditya Birla Capital: Ruchit Jain
Here are two recommendations by Ruchit Jain of 5paisa.com
-- Buy Crompton Consumer for a target of Rs 445 with a stop loss at Rs 390
-- Buy Aditya Birla Capitai for a target of Rs 127 with a stop loss at Rs 109

Kotak Mahindra Bank appoints Bhavnish Lathia as Chief of Customer Experience

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

TCS stock was listed today, 18 years ago 
Indian technology giant Tata Consultancy Services (TCS) shares that complete 18 years since the listing today have given 282.9 percent returns to investors on their investment in IPO during the period. (Here's more)

Bagged Rs 143 crore order from L&T: PS Patel of PSP Projects

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

HDFC Life near day's high 

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

Buy United Spirits, Canara Bank: Jay Thakkar
Here are two recommendations by Jay Thakkar of Marwadi Shares & Financials
-- Buy United Spirits for a target of Rs 870 with a stop loss at Rs 802 
-- Buy Canara Bank for a target of Rs 253 with a stop loss at Rs 236 

Eicher Motors at 52-week high

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

United Spirits at day's high

Stock Market Highlights: Sensex plunges 710 pts from day's high and Nifty gives up 17,550 on F&O expiry day

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