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After opening the day marginally higher, Indian share picked up the pace as the session progressed and ended the day higher.

Benchmark indices traded with a positive bias on Monday even as global cues remained jittery. Buying was visible in IT, financial and power stocks and Adani Group stocks which saw steady demand.

At the closing bell, the BSE Sensex stood higher by 267 points (up 0.4%).

Meanwhile, the NSE Nifty closed up by 83 points (up 0.4%).

Adani Ports and IndusInd Bank were among the top gainers today.

M&M and Cipla on the other hand, were among the top losers today.

Check out the NSE Nifty heatmap to get the complete list of gainers and losers.

The Gift Nifty was trading at 19,402, up by 73 points, at the time of writing.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading 0.9% higher and the BSE Small Cap index is trading 0.7% higher.

Sectoral indices ended on a positive note with stocks in the power sector and metal sector witnessing most of the buying.

Shares of Thermax and L&T Technology hit their 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

Asian stock markets ended on a mixed note. The Nikkei ended higher by 0.4%, while the Hang Seng ended 1.8% lower. The Shanghai Composite ended 1.2% lower.

The rupee is trading at 83.11 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 58,360 per 10 grams.

Meanwhile, silver prices for the latest contract on MCX are trading 0.4% higher at Rs 70,531 per kg.
 

L&T's significant order win

In news from the engineering sector, the hydrocarbon business of Larsen & Toubro (L&T) on 21 August said that it has received a significant contract from the Saipem & Clough joint venture (SCJV) in Australia.

The conglomerate classifies orders ranging from Rs 10 bn to Rs 25 bn as significant.

In a 50:50 joint venture, Clough and Saipem have been selected to undertake the construction of Perdaman Industries' urea plant situated on the Burrup Peninsula.

This order won by L&T involves creating and delivering process and pipe rack modules for a 2.3 million metric tons per annum (MMTPA) urea plant for Perdaman Chemicals and Fertilisers.

The project involves creating approximately 50,000 metric tons of modules to be delivered within 32 months.

These modules will be manufactured at L&T's Kattupalli Modular Fabrication Facility. Once fabricated, the modules will be sent to the project site in Australia in a fully tested, pre-commissioned, and ready-to-install state.

L&T's hydrocarbon business caters to the entire hydrocarbon value chain covering oil and gas processing, petroleum refining, chemicals and petrochemicals, and fertiliser sectors.

Note that L&T has rewarded investors with 10 bonuses over the last 7 decades and the CAGR over the last 20 years stands at an impressive 25.6%.

L&T has been an investor's favourite stock for a long time and also a stock that makes it to the top 5 infrastructure stocks.

In line with its commitment to a sustainable future, L&T is poised to make significant strides in the green hydrogen landscape. 

Jio Financial services hits 5% Lower circuit. What next?

Moving on to news from the finance sector, shares of Jio Financial Services (JFS), the demerged financial services unit of Reliance Industries Limited (RIL), hit a 5% lower circuit after getting listed on the stock market.

JFS stock opened for trading on the National Stock Exchange (NSE) at Rs 262 apiece, while it was listed at Rs 265 apiece on the Bombay Stock Exchange.

However, shares of the non-banking financial company (NBFC) fell soon after listing to hit the lower circuit on both the NSE and BSE.

Despite the optimism surrounding Jio Financial Services, its weak listing is bound to have made some retail investors nervous. Analysts had expected JFS to face selling pressure after its listing they anticipated existing investors to book profits.

Analysts further expect that the company has a large market opportunity, given the fact that it has been demerged from Reliance Industries Limited, which has a history of disrupting various industries.

India's financial sector is robust and dynamic, with many companies offering a wide range of investment and financial services to customers.
 

Why SJS Enterprises share price is falling

Moving on to news from the auto ancillary sector, SJS Enterprises shares fell 3.16% to Rs 619.45 in the morning trade after marquee investor Ashish Kacholia sold shares worth Rs 115 million on the National Stock Exchange.

On August 18, Kacholia sold 1.8 lahks SJS shares for Rs 640 a piece in a bulk deal. On the same day, 3 lakh SJS Enterprises shares changed hands on the exchanges, which was 50% more than its monthly traded average.

Ashish Kacholia started his broking firm Lucky Securities in 1995. He co-founded Hungama Digital with Rakesh Jhunjhunwala in 1999 and started building his portfolio in 2003.

Kacholia is known for identifying the best multibagger stocks. He is known as the Big Whale of the Indian stock market.

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