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Stock Market News - ICICI Bank, HDFC among top losers, Future Retail plunges 8%

ICICI Bank, HDFC among top losers - ICICI Bank, HDFC, Axis Bank were among the biggest losers, shedding up to 3%. Tata Motors, VEDL were among the top gainers, gaining up to 2.5%. Asian shares struggled to make any headway on Friday as weak US manufacturing activity and uncertainty over how much further the Federal Reserve would cut rates added to the general air of caution in markets buffeted by global growth fears.


Coffee Day Hits Upper Circuit Again - Shares of the Bengaluru-based company hit the upper circuit for the fifth day this week after it rose 5 percent to Rs 79.90 each. ITC is considering a bid to buy a stake in Coffee Day Enterprises as the nation’s biggest cigarette maker seeks to diversify its businesses, reported Bloomberg citing people familiar with the matter.

Rupee plunges to 72 against US dollar for the first time in 2019 - Extending its downfall, the rupee on Friday plunged to 72 against US dollar, down 19 paise against its previous close in the early morning trade. The currency was set for the biggest monthly fall in six years. In August alone, it has plunged 4.6 percent while so far in 2019, it has lost 3.9 percent, as per TV reports.

NEWS ALERT | 

1.  10-yr govt benchmark bond yield opens at 6.57% vs the previous close of 6.56%

2.  ÝES Bank gains over 4% on report of the Co eyeing another $1.2 billion equity infusion

3.  NHAI says conversion to AMC not on the anvil: sources to CNBC TV18 -- NHAI confirms receipt of a letter from PMO on conversion to AMC-- continue to assess projects for their financial viability

CATCH THE ALL MARKET UPDATES - 
  • Lupin slips 3%
  • TCS gains 0.9%
  • DHFL sheds 4%
  • Coffee Day gains 5%
  • YES Bank slips over 1%
  • ICICI Bank declines 3%
  • Future Retail slips over 5%
  • PNB Housing Fin sheds 6%
  • Bajaj Finance sheds over 2%
  • Indian Oil Corp trades lower
  • IndiGo trades over 2% lower
  • India Cements sheds over 2%
  • APL Apollo Tubes slips over 5%
  • Hexaware Technologies gains 1%
  • 63 Moon Tech trades 10% higher
  • DLF slips 4%; hits a 52-week low
  • SpiceJet hits a fresh 52-week low
  • Glenmark Pharma hits a 52-week low
  • Edelweiss Financial Services slips 8%
  • Indiabulls Housing Fin dips nearly 2%
  • Oracle Financial Services Software top gainer among the IT pack

Future Retail plunges 8%: Future Retail plunged 8 percent in the early trade on August 23 as global e-commerce giant Amazon will acquire 49 percent stake in Future Coupons, a Future Group entity that holds a minority stake in Future Retail.

TOP GAINERS & LOSERS - 

ICICI Bank, Axis Bank, HDFC Bank, SBI, Indiabulls Housing, HDFC, Hindalco, UltraTech Cement, Cipla, RIL, Tata Steel and IOC are some of the major losers on the indices, while gainers are Yes Bank, Wipro, TCS, M&M, and Hero Motocorp. Among sectors, except IT and auto, other indices are trading in the red led by the bank, energy, FMCG, infra, metal, and pharma. Midcap and smallcap index down 0.5 percent. 

Gold set for worst week in about five months: Gold eased on Friday and was set for its worst week in nearly five months, as lack of clarity from US Federal Reserve on the outlook for interest rate cuts triggered investors to cash in some gains ahead of Jerome Powell's speech at Jackson Hole.

HDFC Bank Shares Fall - Shares of HDFC Bank fell 1.6 percent intraday after the private sector lender announced management restructuring. The country's largest private sector lender by market capitalisation informed exchanges that its board of directors, on August 22, appointed Srinivasan Vaidyanathan as the Chief Financial Officer (CFO) with immediate effect.


Market News | Rupee | Dollar | Crude | Bank Nifty | Gold Prices | Top Losers


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