Daily Market Wrap-Up by Stock Whisperers: 19-AUGUST-2024

Indian Indices End Flat Amid Volatility

Market Overview:

Summary of the Day's Market Performance

  • Indian benchmark indices ended the session on a flat note amid volatility. The Sensex slipped slightly by 12.16 points (-0.02%) to close at 80,424.68, while the Nifty edged up by 31.50 points (+0.13%) to settle at 24,572.70.

  • The BSE Midcap index gained 0.5%, while the Smallcap index added 1%, showing continued investor interest in broader market segments.

Sector Highlights:

Performance of Key Sectors

  • Healthcare, IT, Metal, Oil & Gas, Power, Telecom, and Media sectors saw gains ranging from 0.5% to 2%.

  • The Auto and Bank sectors were the only ones to close in the red.

Market Transactions:

• 📉FII Sold: -2,667.46 cr.

• 📈DII Bought: 1,802.92 cr.

Important Observations and Market Sentiments:

"Despite a flat market close, the broader indices showed resilience with midcap and smallcap stocks outperforming. The focus remains on specific sectors like IT, Metals, and Oil & Gas, which saw positive momentum."

Stock News:

Key Stock Movements and News

  • Top Gainers: Hindalco Industries, BPCL, Shriram Finance, Tata Steel, and LTIMindtree led the gains on the Nifty.

  • Top Losers: M&M, Bajaj Auto, Axis Bank, IndusInd Bank, and SBI Life Insurance were among the notable losers.

  • DCM Shriram: Commissioned a new Hydrogen Peroxide plant with a capacity of 52,000 TPA at its chemical complex in Jhagadia.

  • NIBE: Signed an MoU with the Maharashtra government to manufacture shipyard infrastructure at Ratnagiri.

  • Mishra Dhatu Nigam: Secured an order worth ₹285 crore.

  • ONGC Videsh: Received a 16-year contract extension for oil and gas production in Vietnam.

  • Vishnu Chemicals: The Board approved the acquisition of Jayansree Pharma.

  • Knowledge Marine: Bagged a new order worth ₹9.6 crore, leading to a 5% rise in its stock.

  • DCX Systems: Hit a 5% upper circuit after securing orders worth ₹107 crore.

  • Digikore Studios: Secured a $1.2 million contract for a US OTT series.

  • Techno Electric: Partnered with IndiGrid for greenfield interstate transmission system (ISTS) projects.

  • Paytm: Gained 1% following Bernstein’s report predicting profitability by 2026-27.

  • PVR Inox: Rallied 4% intraday on reports of strong box office collections for "Stree 2."

Stocks to Focus On:

  • Paytm: Bernstein’s report predicting profitability by 2026-27.

Summary:

"With the indices ending flat, the market remains in a cautious mode, though broader market strength indicates selective buying interest. Investors are closely watching global cues and sector-specific developments for future direction."

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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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