Nifty50: 17,558 ▲ 36 (+0.2%)
Sensex: 58,833 ▲ 59 (+0.1%)
Hola, people!
What are your plans for the weekend? Catching up with your friends or binge watching your favourite TV show? You might want to catch the live demolition of Noida’s twin towers, which will be razed to the ground on August 28 in just 9 seconds! The event has become so popular that the site has become a selfie point for some!
- Taking cues from global markets, benchmark indices saw a gap-up opening but managed to close marginally higher.
- In all, 34 of the Nifty50 stocks closed in the green.
- Investors will watch for the US Fed chairman’s speech on interest rates later today.
Among the Nifty sectoral indices, Metal (+1.7%) and PSU Bank (+0.9%) were the top gainers, while Media (-0.6%) and Realty (-0.3%) were the top losers.
| Top gainers | Today's change |
| Grasim | 1,682 ▲ 58 (+3.5%) |
| NTPC | 163 ▲ 4.7 (+2.9%) |
| Adani Ports | 840 ▲ 24 (+2.9%) |
| Top losers | Today's change |
| Eicher Motors | 3,353 ▼ 127 (-3.6%) |
| IndusInd Bank | 1,072 ▼ 17 (-1.6%) |
| Bharti Airtel | 731 ▼ 9.8 (-1.3%) |
What’s trending
⭐ Adani Group makes open offer for ACC, Ambuja
ACC (NSE): 2,286 ▲ 1.8 (+0.08%), AMBUJACEM (NSE): 403 ▲ 5.9 (+1.4%)
Adani Group launched its ₹31,000 crore open offer to acquire a 26% additional stake in cement manufacturing giants ACC and Ambuja Cements. Markets regulator, SEBI, approved the open offer last week. The open offer is being made at ₹385 per share for Ambuja Cements and ₹2,300 per share for ACC.
⭐ Syrma SGS sees strong listing
SYRMA (NSE): 312 ▲ 92 (+41.8%)
After a gap of three months, the markets witnessed the first listing of the quarter. Shares of Syrma SGS Technology listed at ₹262 on the exchange against issue price of ₹220, a 19% premium. The company raised ₹840 crore through its maiden public offer, of which ₹766 crore will go into expansion, working capital, and other corporate purposes.
⭐ Nelco surges after new project win
NELCO (NSE): 856 ▲ 77 (+10%)
Shares of satellite communication services provider Nelco were locked in the upper circuit on Friday. The company announced it has signed an agreement with Intelsat Commercial to launch in-flight connectivity (IFC) services. As part of the project, Nelco will enable airline partners of Intelsat to enjoy end-to-end broadband coverage on domestic and international flights to and from India.
⭐ Gensol Engineering bags large orders
GENSOL (BSE): 1,706 ▲ 81 (+5%)
The solar plant design and advisory firm has secured orders worth ₹153 crore to build solar projects with a combined capacity of 58.8 megawatts. Four of these projects will be erected over land, the other three will be installed over rooftops. The projects are located in Jammu and Kashmir, Gujarat, Punjab, Rajasthan, Tamil Nadu and Telangana.
In Focus
Indian job market looks up
Rising inflation has been a hot topic of discussion worldwide. Major economies across the globe have been taking necessary steps to curb inflation. Ideally, in a high-inflation scenario, companies try to cut down operational costs and reduce employee hiring. However, the Indian labour market seems to be unfazed by inflation. But how? Let's find out.
The provisional payroll data released by the Employees Provident Fund Organisation (EPFO) shows that formal job creation in the country increased by 42% year-on-year to 18.3 lakh in June 2022.
Meanwhile, pre-placement offers at Indian Institutes of Technology (IITs) across the country have risen by 15-75% as compared to last year.
As per market experts, a positive hiring trend reflects a post-pandemic economic revival, which has improved hiring sentiments across industries. Furthermore, individuals in the age bracket of 22-25 years reported the highest number of net enrolments with the EPFO at 4.7 lakh during June, which points to robust industry sentiments towards fresher hirings.
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Good to know
What is a listing date?
After an IPO comes to a close and shares are allotted, the company’s shares are officially listed on the stock market. The day shares open for trading on the markets is called the listing date. This date is important as investors who missed out on the IPO can finally buy it on the stock market. Further, investors who were allotted shares in the IPO may look to make listing gains by selling their shares.
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