The benchmark indices ended the volatile week on a negative note. After rallying 7.7% from the July month’s low, Nifty snapped its two-week winning streak. Nifty failed to carry on the previous week’s momentum beyond 16,500 to finally end with losses of 0.5% and formed small bearish shooting star on weekly candlestick. The low of shooting star will be critical in coming days which stands at 16,376 and below this Nifty is likely to test levels of 15,300.
All three main stock indexes in the US rallied to end sharply higher a choppy week, led by a rebound in tech shares like Microsoft, Cisco and Salesforce. On the week however, all posted weekly losses as investors continue to digest the latest FOMC minutes that showed policymakers will likely start to reduce stimulus this year and worry over the rapid spread of the coronavirus Delta strain. Announcements from a host of Asian nations that they are implementing drastic measures to curb the resurgence of COVID19 due to the rise of the disease’s highly contagious Delta variant, put a damper on stocks associated with economic re-engagement.
Stocks in news
Delta Corp in focus- Goa Government Extends Covid Curfew till 30-August. Casinos/ any type of social gathering to remain prohibited for now.
Cadila Healthcare: Zydus Cadila’s Covid vaccine, ZyCoV-D, has received approval for Emergency Use Authorization from the Drug Controller General of India. The world’s first Plasmid DNA vaccine will be administered to all above 12 years of age
Adani Total Gas To buy 50% stake in Smartmeters Technologies for Rs 1 crore. The acquisition is expected to be completed by September 2021.
Power Grid Corporation of India, India Grid Trust and Parbati Koldam Transmission Company have executed a new shareholders agreement.
Aurobindo Pharma: Cancelled the proposed deal to buy 51% stake in Cronus Pharma Specialities.
Bharti Airtel moves Supreme Court with review petition in AGR case
TTK Prestige: To commence normal operations at manufacturing unit at Khardi in Maharashtra from August 23.
Infosys: Bought back shares worth Rs 4.22 crore on Friday.
SRF: Board to meet on August 31 to consider issuance of bonus shares subject to approval by the shareholders of the company.
Tata Realty to invest Rs 4,000 cr in residential, commercial projects
GAIL to foray into hydrogen generation, scale up its renewable portfolio
Karnataka Bank plans to raise Rs 6,000 crore via debt this fiscal
Adani Total Gas buys 50% stake in gas meter manufacturing firm
Arvind Fashions raises Rs 439 crore from investors, promoters
NTPC commissions 15 MW floating solar capacity at Andhra’s Simhadri
Footwear retailer Metro Brands files IPO papers with Sebi, for Rs 250 cr public issue
Sebi keeps Adani Wilmar’s Rs 4,500-crore issue in abeyance
New Listings: Nuvoco Vistas, Aptus Value Housing Finance
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