Indices at previous closing
Nifty50: 16,614 ▲51 (+0.3%)
Sensex: 55,792 ▲209 (+0.3%)
Nifty Bank: 35,867 ▼227 (-0.6%)
In the news
Vedanta falls after Madras HC notice
Shares of Vedanta dropped by nearly 11% on Tuesday snapping its ongoing rally. The mining major received a notice from the Madras High Court regarding the remediation of contaminated sites near its Tuticorin plant.
A PIL filed against the company demands that the company remove all contaminated material within the copper plant. The company has been given five weeks to respond to the notice.
Retail sales near pre-pandemic levels
According to a survey by the Retail Association of India, retail sales in July were at 72% of the pre-pandemic level of July 2019. This is a sharp improvement in comparison to June when the sales were at 50% of the pre-pandemic levels.
Within the retail segment, quick service restaurants witnessed the sharpest recovery at 97%. Whereas, apparel segment showed recovery of only 63%. The recovery was supported by easing of restrictions in most states both in terms of standalone shops and reopening of malls in certain areas. The BSE Consumer Discretionary Goods and Services index has risen nearly 11% over the last three months.
Gold gains on multiple factors
The ongoing geopolitical tensions in Afghanistan and rising number of Delta-variant cases in various countries has created a scenario of uncertainty and boosted demand for gold. Further, the upcoming festive season in India is expected to push up demand for the yellow metal.
International gold prices have gained nearly 4% in the last five trading sessions. Similarly, MCX Gold prices also gained about ₹1,750 per 10 grams from the lows of last week.
Sectoral indices (August 17)
| Top gainers | Top losers |
| Nifty IT ▲ 2.5% | Nifty Metal ▼ 2.3% |
| Nifty Healthcare ▲ 1.7% | Nifty PSU Bank ▼ 1.7% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.1% |
| Nikkei 225 (Japan) | ▲ 0.5% |
| Hang Seng (Hong Kong) | ▲ 0.5% |
| SSE Composite (China) | ▲ 0.3% |
| Dow Jones (US) (August 17) | ▼ 0.7% |
| NYSE (US) (August 17) | ▼ 0.7% |
| Nasdaq (US) (August 17) | ▼ 0.9% |
Fact of the day
Adidas has sold Reebok to Authentic Brands Group (ABG) for $2.5 billion. ABG's portfolio includes companies like Arrow, Forever 21, Van Heusen.
Source: The Guardian
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