Indian Stock Market Ends on a Positive Note, Real Estate Stocks in Focus
Benchmark equity indices, S&P BSE Sensex and NSE Nifty50, ended Wednesday's choppy session on a flat note. Real estate stocks, including NBCC, were in focus after the company announced a proposal for issuing bonus shares.
Indian Stock MarketReal Estate StocksNbccAgro Tech FoodsShoppers StopBonus SharesReal Estate NewsAug 28, 2024
At the closing bell, the BSE Sensex stood higher by 74 points (0.1%). Meanwhile, the NSE Nifty closed higher by 34 points (up 0.1%). Wipro, Infosys, and Bharti Airtel were among the top gainers today. Maruti Suzuki, Britannia, and Adani ports, on the other hand, were among the top losers today.
The GIFT Nifty was trading at 25,052 down 49 points at the time of writing. Sectoral indices were trading mixed with stocks in metal sector and power sector witnessing selling pressure. Meanwhile, the stocks in IT sector and telecom sector were witnessing buying interest.
Shares of Bajaj Auto, Info Edge, and Trent hit their respective 52-week highs today. The rupee is trading at 83.96 against the US$. Gold prices for the latest contract on MCX are trading 0.3% lower at Rs 71,912 per 10 grams. Meanwhile, silver prices were trading 1.2% lower at Rs 87,305 per 1 kg.
Speaking of the stock market, technical analysts are buzzing about this real estate stock, but is the fundamental analysis strong enough to justify a 10x return? Co-head of Research at Equitymaster, Rahul Shah dives deep into the company's financials, growth prospects, and industry trends to find out.
NBCC Jumps 8% In news from the real estate sector, shares of state-owned Navratna company NBCC (India) sprinted as much as 8.3% during intra-day deals on Wednesday to Rs 192.4, merely Rs 6 shy of its 52-week high of Rs 198.2, touched on 9 July 2024. The northward rally in NBCC's stock is attributed to the company's announcement that the board is scheduled to meet on Saturday, 31 August 2024, to consider a proposal for issuing bonus shares to equity shareholders.
Agro Tech Foods Retains ACT II license Moving on to news from the food and tobacco business, packaged snack foods player Agro Tech Foods saw its shares jump over 6% in trade on 28 August after the firm announced Conagra Brands, one of North America's leading branded food companies, has ceased to be part of the promoter entity.
Why Shoppers Stop Rallied 6% Today Moving on to news from the retailing sector, Shoppers Stop share price gained nearly 5% on 28 August trade after it announced a strategic collaboration with Hollywood makeup brand Max Factor.
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Frequently Asked Questions
What was the closing price of the BSE Sensex on Wednesday?
The BSE Sensex stood higher by 74 points (0.1%) at the closing bell.
Which real estate stock was in focus after announcing a proposal for issuing bonus shares?
NBCC (India)
What was the reason behind the rally in Agro Tech Foods' shares?
Conagra Brands, one of North America's leading branded food companies, has ceased to be part of the promoter entity.
Which retailing company announced a strategic collaboration with Hollywood makeup brand Max Factor?
Shoppers Stop
How can I stay updated with the latest developments in the Indian stock market?
Check out the most recent share market updates here.
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