Stock Market Today: GIFT Nifty indicates a bullish start; Indian rupee strengthens

Stock Market Today: Dalal Street is expected to have a successful start on Friday as the GIFT Nifty on the NSE IX trading 18.5 points, or 0.10 percent, higher at 19,311.50. On the daily chart, the Nifty today finished 57 points down and formed a major bearish engulfing candle pattern, signalling probable further deterioration. The movement of today indicates a potential near-term Nifty down to or break below the immediate support of 19300-19250 levels. According to Nagaraj Shetti of HDFC Securities, "any effort at an upward rebound might encounter significant resistance around the 19550 levels."

Indian Rupee rises; Tokyo stocks opened lower

The rupee strengthened by 16 paise to end the day at 82.56 versus the US dollar, marking its third straight day of gains as a result of falling crude oil prices and a rise in foreign capital inflows.
As traders awaited the start of the annual Jackson Hole conference of central bankers, Tokyo equities started Friday's trading day down, hurt by overnight declines in New York tech firms.Early trading saw a 1.36 percent, or 438.45 points, decline in the benchmark Nikkei 225 index while the larger Topix index fell by 0.92 percent, or 21.12 points, to 2,265.47.

Stock Market Today: Adani Group reports the deployment of equity of Rs 2.36 lakhs

Adani Group, a conglomerate involved in the ports-to-power industry, said on August 24 that, "it has expanded its total equity investment to Rs 2.36 lakh crore, or more than half of the group's total gross assets, through a number of strategic initiatives." The Adani Group also stated that it has the "highest-ever cash balance at portfolio level of Rs 42,115 crore" at the end of the June 2023 quarter. This was Rs 1,764 crore more than it was at the end of the March quarter before. "Equity deployed by the end of FY23 was Rs 2,35,812 crore, much higher than the net debt of Rs 1,87,087 crore," the corporate behemoth with its Ahmedabad headquarters noted in a statement.

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