Dividend Dates

Ex-Dividend 28 August 2023 (Monday)

Last date for Cum-Dividend Today

Bannari Amman Sugars Ltd.

Dividend Per Share Rs.12.5

Previous day Closing Price – Rs. 2801.3

Precision Wires India Ltd.

Dividend Per Share Rs.0.36

Previous day Closing Price – Rs. 90.78

Wardwizard Innovations & Mobility Ltd

Dividend Per Share Rs.0.1

Previous day Closing Price – Rs. 44.58

Opening Bid: Weak global cues set tone for Sensex, Nifty with expected gap-down opening

Domestic markets are likely to see a strong gap-down opening on Friday amid weak global cues. The US Stocks overnight slumped sharply on healthy job data. Major US indices crashed led by Nasdaq that slumped nearly 2 per cent. S&P 500 and the Dow Jones Industrial Average lost over one per cent.

Gift Nifty at 19.300 signals, a gap down opening of over 100 points for Nifty, as focus now shifts to Fed meet. Most equities across Asia-Pacific region are also in deep red.

Muthoot Fincorp One platform to contribute 10% of group revenue in 3 years

Financial services platform Muthoot Fincorp One is expected to contribute roughly 10 per cent to Muthoot Pappachan Group’s revenue in the next three years, according to platform CEO Chandan Khaitan.

REGULATORY DIRECTIVES: SEBI issues disclosure norms for FPIs holding high Indian equity AUM

SEBI on Thursday laid down timelines for providing additional disclosures by foreign portfolio investors (FPIs) that meet certain criteria.

FPIs holding more than 50 per cent of their Indian equity AUM in a single Indian corporate group have 10 trading days within which they can bring down their holdings. After this, they need to make additional disclosures regarding persons having any ownership, economic interest, or control.

Economy Watch: Power demand has surged 21% in August

India’s electricity demand grew by 21 per cent y-o-y in August 2023 as the world’s third largest energy guzzler’s power consumption rose during the month aided by rising heat and humidity levels, which led to an increase in the number of cooling hours.

Stocks to Watch: RIL, Oberoi Hotels to jointly manage hotels

Reliance Industries Limited (RIL) and Oberoi Hotels and Resorts will jointly manage three hotel properties in India and the UK, RIL said in a statement.

RIL holds 18.53 per cent stake in EIH Limited that operates the Oberoi brand of hotels and resorts.

Stocks that will see action today: August 25, 2023

BUZZING STOCKS: Paytm, Reliance Industries, BSE, International Conveyors, Elpro International, Syrma SGS, Granules, Vedanta, KPI Green Energy, TT, PNB, Bharat Electronics, Prakash Industries, Garden Reach, Astra Microwave, Nila, GI Engineering, Shoppers Stop

TECHNICALS: Day trading guide for August 25, 2023: Intraday supports, resistances for Nifty50 stocks

Here are the intraday supports and resistances for widely traded stocks such as Reliance Industries, ITC, ONGC, Infosys, HDFC Bank, TCS and SBI

TECHNICALS: Stock to buy today: JK Paper (₹380.05)

The share price of​ JK Paper​ has been in a strong uptrend since July this year. The stock rose about 4.3 per cent on Thursday breaking above the 200-Day Moving Average (MA) resistance level at ₹374. ​Read more​

Investor caution prevails in Asia following Wall Street’s slide

Following a sell-off in Wall Street on Thursday, Asian stocks began the day with weaker performance. The decline was primarily driven by a drop in the Nasdaq, which saw a decrease after experiencing significant gains earlier in the week. Investor apprehension was also evident due to the anticipation of a speech by Federal Reserve Chair Jerome Powell on Friday. The S&P 500 experienced a decline of 1.35%, reaching 4,376 points, while the Nasdaq exhibited a more pronounced drop of 1.87%, settling at 13,463 points.

The prevailing sentiment in the Asian market is one of caution. The recent sharp sell-off in Wall Street, coupled with the considerable strengthening of the dollar—experiencing its most significant monthly increase in a span of ten weeks—has left investors wary. There is a reluctance to adopt an overly optimistic approach in light of the impending remarks by Powell.

Notably, equity markets in Japan and Australia, along with Hong Kong stock futures, have all experienced declines.- Agencies