Indian equity benchmarks ended with losses of over a percent on Monday extending the southward journey, with gauges breaching their crucial 58,800 (Sensex) and 17,500 (Nifty) levels, dragged by heavy selling pressure in metal, realty, and basic materials stocks. Benchmarks made a negative start and remained under pressure throughout the session amid weak global cues.

The Nifty50 has formed a long bear candle on the daily chart in a negative sign, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities. “This is a signal that the bears are in the driver’s seat,” he said.

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Indian Indices

The Sensex fell 872.28 points or 1.46% to 58,773.87 while the Nifty was down by 267.75 points or 1.51% to 17,490.70 at the close of trading on Monday. The Sensex moved in a high and low band of 59,402.50 and 58,705.11. There were 2 stocks advancing against 28 declining stocks on the index. The Nifty traded in a range of 17,690.05 and 17,467.35. There were 5 stocks advancing against 45 stocks declining on the index.

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Broader Indices

The broader indices ended in green with the BSE mid cap index down by 1.80% and the small cap index down by 1.17%. The top losing sectoral indices on the BSE were Metal down by 2.69%, Realty down by 2.47%, Basic Materials down by 2.44%, Consumer Discretionary down by 2.01%, and Auto down by 1.92%, while there were no gaining sectoral indices on the BSE.

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India VIX Index

Nifty or India VIX, a gauge of the market’s expectation of volatility over the near term, rose 4.12% to 19.04 on Monday.

SGX Nifty

The trends on SGX Nifty indicate a negative opening for the index in India with a 52-point loss. The Nifty futures were trading at 17,440.50 on the Singaporean Exchange at around 07:08 hours IST.

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Support and Resistance levels

The key support level for the Nifty is placed at 17,409, followed by 17,327. If the index moves up, the key resistance levels to watch out for are 17,631 and 17,772, according to pivot charts.

US Markets

The S&P 500 fell 90.49 points, or 2.14%, to 4,137.99.

The Dow Jones Industrial Average fell 643.13 points, or 1.91%, to 33,063.61.

The Nasdaq fell 323.64 points, or 2.55%, to 12,381.57.

The Russell 2000 index of smaller companies fell 41.60 points, or 2.13%, to 1,915.74.

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Asian Markets

Asian markets ended mostly lower on Monday. The Nikkie 225 fell 0.47%, the KOSPI Composite fell 1.21%, the Hang Seng rose 0.59% and the Shanghai Composite rose 0.60%.

European Markets

European markets ended mostly lower on Monday. Germany’s DAX was down by 2.32%, France’s CAC 40 was down by 1.81% and London’s FTSE 100 was down by 0.22%.

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Major News Headlines

TVS Electronics to acquire business rights of GTID Solutions Development

The company executed a business transfer agreement with GTID Solutions Development to enter into the mobile POS software solutions and authentication solutions space, offering hardware along with required applications, digital payment solutions, cloud computing software solutions, etc to segments like Retail, Banks, and Government. TVS Electronics will acquire the business and IP rights of GTID Solutions, according to the regulatory filing. The cost of acquisition will be around Rs 2.25 crore. 

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RBL Bank’s board approves raising Rs 3,000 crore to fund business growth

The bank said its board has approved raising Rs 3,000 crore to fund the business growth. The fundraising will be subject to the approval of shareholders. The board has approved the issuance of 1.75 crore additional equity stock options exercisable into an equivalent number of equity shares fully paid up of Rs 10 each, in addition to residual/remaining options which remain ungranted under ESOP 2018, according to the regulatory filing.

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Bulk Deal data

Jayashrirajeshpardeshi bought 18,000 shares in Abhishek Integrations Limited at Rs 31.83 per share on the Nse.

Sankar Ghosh bought 52,000 shares in Ajooni Biotech Limited at Rs 46.50 per share on the Nse.

Avirat Enterprise bought 5,00,000 shares in Century Extrusions Limited at Rs 13.75 per share on the Nse.

Amit Vijay Chokshi sold 69,665 shares in Electrotherm (India) Ltd at Rs 83.62 per share on the Nse.

Vijay Ghanshyambhai Pujara sold 66,000 shares in Goldstar Power Limited at Rs 29.86 per share on the Nse.

Colorshine Hosiery Private Limited bought 2,59,209 shares in Kshitij Polyline Limited at Rs 68.04 per share on the Nse.

Palash Banerjee sold 2,54,616 shares in Kshitij Polyline Limited at Rs 68.04 per share on the Nse.

Shir Commodities and Futures Private Limited bought 1,25,000 shares in Likhitha Infrastructure Limited at Rs 270.11 per share on the Nse.

Sawarnbhumi Vanijya Private Limited bought 95,00,000 shares in Vikas Lifecare Limited at Rs 5.25 per share on the Nse.

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DII and FII data

Foreign institutional investors (FIIs) have sold shares worth a net Rs 453.77 crore, whereas domestic institutional investors (DIIs) sold shares worth a net Rs 85.06 crore on August 22, as per provisional data available on the NSE.

NSE F&O Ban

Tata Chemicals Limited is the stock/security that has been placed under the F&O ban for August 23. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.