On August 1, the closing prices of three stocks in the Nifty200 index fell by over 1.5% relative to the VWAP. A move below the VWAP indicates a potential bearish trend.
Tata Motors, Maruti Suzuki, Eicher Motors, Tata Steel and JSW Steel were among the top losers on NSE.
The stock quoted a 52-week high price of Rs 3244.65 and low of Rs 2293.1.
The NSE Nifty index was trading 232.41 points down at 24778.5
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On August 1, the closing prices of three stocks in the Nifty500 index increased by over 1.5% relative to the VWAP (Volume Weighted Average Price).
On the technical charts, the RSI of the stock stood at 78.21.
Tata Motors' shares fell by 4.7% following Q1 results that showed lower-than-expected margins in the passenger vehicles segment. While brokerages like UBS gave a sell call with a target price of Rs 825, others like Nomura and JP Morgan raised their targets. Analysts cited demand moderation and margin pressures as key concerns.
Afcom Holdings' IPO, launched on August 2, aims to raise Rs 74 crore through 68.36 lakh fresh equity shares priced between Rs 102-108. The issue, closing on August 6, has a GMP of Rs 115. Funds will address debt repayment, new aircraft leases, working capital, and corporate needs.
The good news is that the Indian economy is not as export dependent as the East Asian companies, China or what have you, so it is less dependent on global growth, but it is not completely independent.
The Relative Strength Index of the stock stood at 79.79 on Friday.
Picture Post Studios has launched its SME IPO, which runs until August 6, aiming to raise approximately Rs 18.72 crore. Shares are priced between Rs 22-24 each. Proceeds will fund debt repayment, capital expenditure, and corporate purposes. The IPO consists of 78 lakh shares, and the listing is expected on August 9.
Coinbase reported a notable rise in second-quarter revenue due to increased trading volumes, thanks to regulatory approvals for bitcoin and ether ETFs. The company's transaction revenue surged to $780.9 million from $327.1 million last year. The total market capitalization of the crypto sector swelled to approximately $2.36 trillion, driven by gains in key cryptocurrencies.
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The Indian market experienced a significant decline on Friday, with the BSE Sensex falling 814 points and Nifty50 down 282 points. Analysts identified crucial support and resistance levels, suggesting trading strategies for stocks like HDFC Bank and Bata India. Expert recommendations included specific targets and stop-loss levels for various stocks.
The Lieutenant Governor of Jammu and Kashmir, Manoj Sinha, launched the J&K Film Policy 2024 to facilitate easier film and web series shooting in the region. The policy includes a single window portal for permissions and subsidies to support filmmakers. This policy seeks to make J&K a preferred film destination, replacing the former 2021 policy.
The Relative Strength Index of the stock stood at 71.63 on Friday.
Recently, schools, hospitals and airports have been targeted by bomb threats. Previously, over 60 schools, the Indira Gandhi International (IGI) Airport and over half a dozen government hospitals in the national capital received bomb threats through emails. Delhi police later said that nothing suspicious was found.
The 30-share BSE Sensex was down 717.34 points at 81150.21
West Bengal CM Mamata Banerjee supported the removal of GST on life and medical insurance premiums, stressing its negative impact on essential needs. Union Minister Nitin Gadkari initiated this demand, supported by various opposition leaders. The GST council will address this issue in its upcoming August meeting.
The Xi generation is risk-averse. Its members are more unhappy about their government, but are unwilling to resist. Hessler assigned "Animal Farm," by George Orwell, to his students. The two characters they most identified with were the donkey, who is skeptical of the new farm but keeps his thoughts to himself, and the horse, who is hardworking but blindly loyal.
Ismail Haniyeh, a top leader of Hamas, was assassinated by an explosive device hidden in the Tehran, Iran, guesthouse where he was staying. The bomb had been hidden approximately two months ago in the guesthouse, which is run and protected by Iran's Revolutionary Guard and is part of a large compound known as Neshat. Haniyeh was in Iran's capital for the presidential inauguration. The bomb was detonated remotely, once it was confirmed that he was inside his room at the guesthouse.
Gold and silver futures showed price volatility amid geopolitical tensions and mixed U.S. economic data. Gold futures posted slight gains, while silver futures saw more significant increases.
The stock quoted a 52-week high price of Rs 10080.15 and low of Rs 6634.6.
The Nifty Bank index was trading 0.64 per cent down at 51231.45.
