Share Market Pre Open Updates – August 16, 2024

Indian indices ended positive on August 14, snapping a 2-day losing streak, driven by gains in IT stocks. At the close, the Nifty 50 was up by 0.02%, and the Sensex was up by 0.19%, closing at 24,143 and 79,105, respectively.

Top Gainers and Losers

Regarding sectors, Nifty IT, Nifty Consumer Durables, and Nifty Auto saw gains. On the other hand, Nifty Metal, Nifty Media, Nifty Healthcare Index, Nifty Pharma, and Nifty Oil and Gas declined. 

The top gainers were TCS, HCL Tech, Tech Mahindra, and Infosys. Divis Lab, Hero MotoCorp, Coal India, and Ultratech Cement were the top losers.

Stocks In The News

Now, let’s look at the stocks trending in the news.

1. Mazagon Dock Shipbuilders

Mazagon Dock’s net profit for Q1FY25 rose 121% year-on-year to ₹696 crore. Following this news, the company’s share price increased by 3% on August 14.

2. Gravita India

Gravita India’s shares saw a 7% rise on August 14 after Motilal Oswal initiated a “buy” rating, citing a 24% potential upside due to growth in India’s recycling industry.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.