SMarket Today | Stock Market Live Updates – Find here all live updates related to Sensex, Nifty, BSE, NSE, Share Prices and Indian Stock Market for 28th August 2023.
- August 28, 2023 at 07:12
Index outlook: Nifty 50, Sensex: Strong support ahead
The Nifty 50 and Sensex are continuing to struggle to rise. Although the index edged higher in the first half of the week, it failed to secure a strong follow-through. Both indexes fell sharply towards the weekend, giving up all of their gains for the week. Sensex and Nifty have been falling for the past five weeks. However, as mentioned last week, the rate of decline has been slow. Therefore, the recent decline is only a correction in the overall uptrend. Support is about to appear, and the index may resume its overall upward trend in the future.
- August 28, 2023 at 07:11
Adani-Hindenburg fallout: SEBI’s new disclosure norms may affect 200+ FPIs
New disclosure rules to be implemented by the Securities and Exchange Board of India from 1 November will affect more than 200 foreign portfolio investors. There were 227 FPIs with more than 50% equity invested in a single stock or NSE Group listed companies. These companies have invested over Rs 1.98 crore in more than 140 corporate entities, most notably Adani, OP Jindal, GMR and Hinduja Group. Data from primeinfobase.com shows that out of 227 FPIs, 122 hold 100% stakes in a particular company or group.
- August 28, 2023 07:07
Asian stocks rise on China support, focus on U.S. economic data
Asian shares edged higher on Monday as China announced new measures to support struggling markets, though sentiment remained cautious ahead of U.S. jobs and inflation data that could determine whether interest rates must rise again.
Beijing announced on Sunday that it would halve stamp duties on stock transactions, the latest attempt to boost a struggling market and restore investor confidence.
Help is needed, given that profits at Chinese industrial firms fell 6.7% year-on-year in July, the seventh straight month of decline this year.
Chinese blue chips fell 2% last week to a fresh year low, with all eyes on Thursday’s official PMI for August.read more
Posted on August 28, 2023