Stock Market LIVE on Monday, August 19, 2024: The benchmark indices, Sensex and Nifty, are poised for a positive opening on Monday, buoyed by positive global cues. The GIFT Nifty futures also indicated a positive start, quoting 72 points higher than Nifty50 futures at 24,670 levels.
Asia-Pacific markets broadly traded in green on Monday morning. China’s Shanghai Composite was up 0.07 per cent, Hong Kong’s Hang Seng rose 1.88 per cent, and the Asia Dow traded up 0.21 per cent. However, Japan’s Nikkei traded lower by 0.35 per cent, South Korea’s Kospi dropped 0.44 per cent, and Australia’s S&P/ASX 200 dipped by 0.07 per cent.
In the US markets overnight, the S&P 500 advanced 0.20 per cent. The Dow Jones Industrial Average rose 0.24 per cent, while the Nasdaq Composite increased by 0.21 per cent.
Traders in Asia are eyeing key central bank releases this week, including the Bank of Korea’s rate decision, inflation data from Japan and Singapore, the Reserve Bank of Australia’s August meeting outcome, and China’s one-year and five-year loan prime rates.
Stocks to Watch Today
Piramal Enterprises: The promoters of Piramal Enterprises announced that on August 16, 2024, an entity within the Promoter Group purchased 616,615 equity shares of Piramal Enterprises Ltd., representing 0.27 per cent of the company’s paid-up capital, on the National Stock Exchange of India Limited (NSE). As a result of this purchase, the Promoter Group’s shareholding in PEL has increased from 46.03 per cent to 46.30 per cent.
Adani Enterprises: Billionaire Gautam Adani-led Adani Enterprises has informed the exchanges that the Management Committee of the Company, at its meeting held on August 16, 2024, has approved and adopted the draft prospectus for the public issuance of non-convertible debentures with a face value of Rs 1,000 each, amounting to up to Rs 400 crores, with an option to retain oversubscription of up to Rs 400 crores, aggregating up to Rs 800 crores.
Vedanta: The Company has received an order from the Office of the Commissioner of Central Excise & CGST Commissionerate, confirming a penalty of Rs 99,36,210, along with a tax demand and applicable interest. The issue pertains to the reversal of Input Tax Credit for inputs/input services used for effecting exempted and non-GST supplies during FY 2019-20 and 2020-21.
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