The S&P 500 closed at a record high on Tuesday, rebounding from huge losses triggered by the coronavirus pandemic and crowning one of the most dramatic recoveries in the index’s history.
The Dow Jones Industrial Average fell 66.84 points, or 0.24%, to 27,778.07, the S&P 500 gained 7.79 points, or 0.23%, to 3,389.78 and the Nasdaq Composite added 81.12 points, or 0.73%, to 11,210.84.
The US dollar fell against a basket of major currencies for a fifth consecutive trading day on Tuesday which kept strength intact for gold.
🎯 News & Impact 🎯
🎯 Zee Entertainment Enterprises Q1 : Profit at Rs 30.4 crore versus Rs 530.6 crore, revenue at Rs 1,312 crore versus Rs 2,008 crore YoY. Company appointed Subhash Chandra as Chairman Emeritus and R Gopalan as Chairman of the board.
🎯 PNB : Major win for MCA and PNB as US court recognises bank's claim over proceeds of Nirav Modi asset sales in America. Positive for the stock. 👍
🎯 Vodafone Idea : AGR Due Case : Justice Arun Mishra said the SC cannot allow AGR payments to be made in 20 years as they may go bankrupt in these many years. This observation casts a shadow on Vodafone Idea’s operations as the company has time and again pleaded that it was not in a position to pay the dues and may even stare at folding operations. Negative for the stock.
🎯 PSU Banks : Centre keen to speed up stake sale in four PSU Banks. Could be positive for Punjab & Sind Bank, Bank of Maharashtra, UCO Bank and IDBI Bank. 👍
🎯 Reliance : Reliance Retail acquires majority stake in digital pharma market place Netmeds. Positive for the stock. 👍
🎯 Ibrealest : Embassy Group, IBREL to merge housing, commercial projects. The merged entity will have about 30 projects.
🎯 GVK and Adani : Govt likely to take up next round of airport privatisation today. Positive for GVK and Adani. 👍
🎯 Centum Electronics : Company announced the divestment of energy division of its French subsidiary, Centum Adetel Group.
🎯 Dilip Buildcon : Company received letter of acceptance for a project worth Rs 1,334.95 crore in Uttarakhand, from Rail Vikas Nigam.
🎯 Ajanta Pharma : Promoter Ravi Agrawal, Trustee Ravi Agrawal Trust has de-pledged additional 2,40,000 shares. Positive for the stock. 👍
🎯 Sterlite Technologies : Promoters' shareholding increased to 54.75 percent on August 14, from 54.16 percent in June quarter 2020. Positive for the stock. 👍
🎯 Adani Ports and Special Economic Zone : Promoter Gautam S Adani & Rajesh S Adani (on behalf of SB Adani Family Trust) released 1,75,05,160 pledged shares of the company and Adani Tradeline released 37,70,000 pledged shares. Positive for the stock. 👍
🎯 Adani Enterprises : Gautam S Adani / Rajesh S Adani (on behalf of SB. Adani Family Trust) released 1,11,09,282 pledged shares of company and Adani Tradeline LLP released 15,50,000 pledged shares. Positive for the stock. 👍
🎯 Adani Transmission : Gautam S Adani / Rajesh S Adani (on behalf of SB Adani Family Trust) released 16,15,000 pledged shares. Positive for the stock. 👍
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Edited by Sharp.
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