Summary of the Day's Market Performance

• Indian benchmark indices soared on easing US recession fears, with the Sensex climbing 1,330.96 points (+1.68%) to close at 80,436.84 and the Nifty surging 397.40 points (+1.65%) to settle at 24,541.20.

• Market breadth was overwhelmingly positive, with nearly two stocks rising for every one that fell.

Performance of Key Sectors

• All sectoral indices ended with strong gains, led by Information Technology, Automobiles, Banks, Metals, and Realty, which surged between 1.5% and 3%.

Market Transactions:

• 📈FII Bought: 766.52 cr.

• 📈DII Bought: 2,606.18 cr.

"Today's rally underscores the market's sensitivity to global economic cues, with easing US recession fears providing a significant boost. Investors remain optimistic, particularly in sectors like IT and Automobiles, which are seen as key beneficiaries of a potential economic upturn."

Key Stock Movements and News

• Top Gainers: Wipro, Tech Mahindra, Grasim Industries, M&M, and Tata Motors led the rally on the NSE.

• Top Losers: Divis Labs, SBI Life, Dr. Reddy's, Maruti Suzuki, and Sun Pharma were among the few stocks that ended in the red.

• Yes Bank: Appointed Sumit Bali to head its retail lending business.

• Smarworks Coworking: Filed a DRHP for an IPO, which includes a ₹550 crore fresh issue and 6.8 million shares as OFS.

• Ola Electric: HSBC initiated coverage on the stock with a buy rating, citing optimism about the firm’s battery venture and regulatory support.

• Bajaj Housing Finance: Targeting an IPO valuation between ₹56,000 crore and ₹59,000 crore, with plans to potentially trim issue size and launch in September.

• Ambuja Cement: Completed the acquisition of Penna Cements.

• Hindustan Zinc: It saw its shares crack by 9% after Vedanta announced a larger-than-expected stake sale, increasing from 2.6% to 3.17%.

• CDSL: Fixed August 23 as the ex-date for its 1:1 bonus issue.

• Croissance: Won a construction order worth ₹50 crore at Nandi Hills.

• JSW Cement: Expected to file draft papers for a ₹4,000 crore IPO soon.

• Bharti Airtel: Gained 1% after Macquarie initiated coverage on the stock, drawing investor interest.

• Brigade Group: Partnered with abCoffee to enhance tenant experience, signaling a move to bolster its customer engagement strategies.

• Bharti Airtel: Gained 1% after Macquarie initiated coverage with a positive outlook, reflecting confidence in the telecom giant's future growth prospects.

"With the market ending the week on a high note, bolstered by easing global economic concerns, the outlook remains positive for the coming sessions. However, investors should stay vigilant as the global economic landscape continues to evolve."

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Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.

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