Stock Market LIVE on Wednesday, August 21, 2024: Benchmark equity indices, BSE Sensex and NSE Nifty50, are likely to start on a sombre note on Wednesday, tracking global peers.

At 08:15 AM, GIFT Nifty futures were down 13 points at 24,693, indicating a lackluster start for the trading day.

Asian markets were trading lower, mirroring Wall Street. Hong Kong’s Hang Seng Index traded lower by 1.13 per cent, Japan’s Nikkei was down 0.62 per cent, South Korea’s Kospi fell 0.26 per cent, and China’s Shanghai Composite was down 0.93 per cent.

Overnight in the US, Wall Street’s major indices settled lower, halting their winning streak on Tuesday as investors awaited the Jackson Hole Economic Symposium, which gets underway on Thursday.

On Tuesday, the Nasdaq Composite settled lower by 0.33 per cent. The broader S&P 500 and the Dow Jones Industrial Average ended lower by 0.20 per cent and 0.15 per cent, respectively.

Stocks to Watch

Ola Electric: The company has announced that its mass-market scooters, S1 X 3 kWh and S1 X 4 kWh, have received Certification for Compliance with the eligibility assessment requirements as per the Production Linked Incentive (PLI) Scheme for the automobile and auto components sector.

Tata Chemicals: SES ESG Research has assigned an Environmental, Social, and Governance (ESG) Score (Adjusted) of 69.4 (Grade B) to Tata Chemicals based on data pertaining to FY 2023-24.

Larsen & Toubro: The company has filed a Writ Petition in the Bombay High Court against the show cause notice issued by the Principal Commissioner of GST and Service Tax, Mumbai, regarding a service tax demand of Rs 2,237 crore on an erstwhile subsidiary. The tax has already been paid by the company concerning certain transactions undertaken post-demerger.

Telecom Stocks

 

Shares related to the telecom sector, including Bharti Airtel, and Vodafone Idea, will remain in focus today. This follows the annual report for FY24 released by the Telecom Regulatory Authority of India (TRAI) on August 20, 2024. The report shows that the overall tele-density in India increased from 84.51 per cent at the end of March 2023 to 85.69 per cent at the end of March 2024, at a yearly growth rate of 1.39 per cent.

IPO Corner

Interarch Building Products IPO closes for public subscription today.

Orient Technologies Limited IPO opens for public subscription today.