Nvidia's recent quarterly forecast didn't meet high investor expectations, leading to a 6% drop in its shares and affecting other chipmakers. Despite robust growth and a $50 billion share buyback, concerns remain about the long-term viability of generative AI and regulatory scrutiny. Nvidia's forecast for the coming quarter was close to analysts’ estimates.

With inflation lowering and unemployment rising more than anticipated, Federal Reserve Bank of Atlanta President Raphael Bostic indicated it might be time for rate cuts. However, he emphasized the need for confirmation from upcoming jobs and inflation reports due before their September meeting to avoid the need to reverse decisions.

Shares of Nvidia and other major tech companies fell after Nvidia's quarterly earnings report. Despite beating second-quarter revenue and adjusted earnings estimates, Nvidia's forecast for third-quarter gross margins and revenue fell short of market expectations. This has raised concerns about the sustainability of the recent AI-driven rally in tech stocks.

Warren Buffett's Berkshire Hathaway holding company crossed $1 trillion in market value Wednesday, making it the first non-tech firm on Wall Street to pass the milestone. On Wednesday, Berkshire Hathaway's market capitalization crossed $1 trillion in early trading, putting it in an exclusive club alongside tech titans like Apple, Nvidia and Microsoft.

"We expect the gradual uptick in the market to continue, supported by FII inflows and healthy domestic macros. Markets are likely to remain volatile on Thursday on account of monthly derivatives expiry. Key Event to watch out for US Q2 Project GDP Data," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

The outlook threatened to cool an AI frenzy that has transformed Nvidia into the world’s second-most-valuable company. The chipmaker is the key beneficiary of a race to upgrade data centers to handle AI software, and its sales forecasts have become a barometer for that spending boom.

"It has come to the notice of Sebi that, post-listing, some of the SME companies and their promoters have been resorting to certain means that project an unrealistic picture of their operations," Sebi said in a release.

Bernstein said that as organised retailers scale up, tremendous value creation opportunities can be accessed currently by unlocking demand beyond the top 40 cities and the top 10% of the pyramid of the Indian middle-class market.

The investigation centres on trades conducted by Saluja last year on September 21 and 22, days before the Burman family's open offer for Religare Enterprises was announced on September 25, 2023.

When asked about the slower pace of deposit growth as compared to credit growth, the RBI governor also said that banks were mindful of the issue and taking necessary actions, Das said that banks should be allowed time for the results to show.

Chinese multinational technology conglomerate Tencent is likely to sell 2.1% stake in PB Fintech via block deal at an estimated price of Rs 1,610 crore.

As the Nifty touches a new high, the market breadth is also getting better, though Q1 has made the Street get into stocks specific mode. But clearly the underlying mood of the market is bullish and at this point of time there is no reason to believe that the long term trend will change. This essentially means the “risk on trade”, which took a pause for a while, is back on the Street. Keep an eye on liquidity and the market breadth in the next few weeks as that will determine what happens to mid-cap stocks in the medium term. ET Screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.

"We expect the gradual uptick in the market to continue, supported by FII inflows and healthy domestic macros. Markets are likely to remain volatile on Thursday on account of monthly derivatives expiry. Key Event to watch out for US Q2 Project GDP Data," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

State Bank of India chairman Challa Sreenivasulu Setty, appointed for three years, urges employees to elevate the bank into the most valued financial institution. He succeeds Dinesh Khara and aims to reinforce SBI's status as the 'Banker to Every Indian' and achieve service excellence. Under Setty's leadership, SBI aims for new milestones and strategic growth.

Gangwal, along with his wife Shobha Gangwal and their family trust - who are all part of the promoter group - held nearly a 34% stake in the airline as of December last year.

The government issued a notification stipulating a lower public shareholding requirement for companies listing on stock exchanges at the International Financial Services Centre (IFSC)-a deemed foreign jurisdiction-a move aimed at wooing firms to list there.

As on July 31, there are 224 merchant bankers registered with Sebi. Their activities include handling public issuances, international offerings such as global depository receipts, underwriting issues and corporate advisory.

RBI governor Shaktikanta Das announced plans to make UPI and RuPay global to improve cross-border payment systems. The central bank aims to create UPI-like infrastructure overseas and link UPI with other countries' fast payment systems.

Nifty's IT index jumped 1.6% to record levels on Wednesday, while the benchmark indices ended 0.1% higher in a rollercoaster trading session. LTI Mindtree jumped 6.31%, followed by Wipro which gained 3.71%. L&T Technology Services, Coforge, Infosys, Persistent and Mphasis were up 1.3-3.6%.

HFCL's stock, a leading manufacturer of 5G and other technologies, has surged 106% in a year, reaching Rs 148 on August 27, 2024. The stock's uptrend started in January 2024 after breaking out from a 3-year consolidation. On the weekly charts, it has consistently made higher lows for the past 4 weeks.

Markets regulator Sebi has proposed a comprehensive review of merchant banker regulations to address changes in market dynamics. The review includes assessing the activities of bankers, updating capital adequacy requirements, and introducing a minimum liquid net worth.

Indian benchmark equity indices closed marginally higher on Wednesday, led by IT stocks. The S&P BSE Sensex closed 0.09% higher at 81,785, while the NSE Nifty50 ended above the 25,050 mark after touching an all-time high of 25,129.6 during the day."A decisive move above 25,100, or a close above this level, could confirm a further rally in the market. Otherwise, Nifty may slip lower, as the absence of sustained buying might trigger selling pressure. The immediate support is placed at 24,800," said Rupak De of LKP Securities.Here are 8 stock recommendations for Thursday:

Moody's Rating on Wednesday said it has maintained a stable outlook on Tata Steel, expecting the domestic steel major to improve its earnings over the next two financial years.

The market value of Berkshire Hathaway surpassed $1 trillion on Wednesday, reflecting investor confidence in the conglomerate that Warren Buffett built over nearly six decades into what many consider a proxy for the American economy.

Tata Steel on Wednesday said it has acquired about 178 crore additional equity shares of T Steel Holdings Pte Ltd for USD 280 million, taking the total fund infusion into its Singapore-based arm to USD 1,337 million.

Rakesh Gangwal, co-founder of InterGlobe Aviation, plans to sell up to $804 million in shares via a block deal, with a floor price of Rs 4,593 each, a 5.5% discount to the current market price. This move follows his previous stake reduction and Shobha Gangwal’s exit.

Wall Street's main indexes were flat at the open on Wednesday ahead of Nvidia's earnings report, with focus squarely on whether the recent bull market rally led by the AI chip firm and other tech-related shares can be sustained.

The floor price for the issue is set at Rs 1,660.2 per share, a 4.4% discount to Wednesday's closing price. Tencent, which held a 4.6% stake in the Policybazaar parent company as of June 30, 2024, is reportedly selling its stake.

On Tuesday, Dinesh Kumar Khara bid farewell to the bank he led for four years. Khara, who has been serving as Chairman of the State Bank of India since October 2020, guided the bank through a period of significant improvement in profitability and market perception, even amid economic uncertainty. ETMarkets' analysis highlights the strong performance of India's largest public sector bank from fiscal years FY20 to FY24.

Sebi's investigation revealed that Sharekhan's Authorised Persons (APs) conducted trades from unregistered locations. Furthermore, in one case, an AP's terminal was operated by an unauthorized individual.

The index is still trending upwards, though a minor dip or consolidation could lead to a breakout above 25,100, opening the way for a potential target of 25,360. Support is around 24,800-24,750, according to Nagaraj Shetti of HDFC Securities.

Domestic brokerage Prabhudas Lilladher has initiated coverage on Cyient and Persistent Systems, highlighting mid-cap IT companies' premium over large caps. They expect improved sentiment and increased discretionary spending by late FY25 or early FY26 to boost mid-cap IT performance.

Vaishali Pharma's board approved a 1:5 stock split and a 1:1 bonus share issue, causing the stock to surge 10% to Rs 190.35 on the NSE. The split, pending shareholder and regulatory approvals, will be given to eligible shareholders as on record date which will be announced later.

Tata Motors announced that the trading of its differential voting rights (DVR) shares will cease after market hours on August 29, 2024, due to their conversion into ordinary shares. For every 10 DVR shares, investors will receive 7 ordinary shares. The swap, with a record date set for September 1, follows NCLT approval.

The stock of Fusion Finance (formerly Fusion Microfinance) has gained over 9% in three trading sessions to August 28 following the company’s announcement on exchanges that the Odisha State Tax department has dropped the show cause notice issued in May directing the company to pay nearly Rs 1.2 crore towards penalty for the excess claim of input credit regarding state GST.

The company has set the record date on September 10, 2024. The announcement was made after market hours.

Benchmark equity index Nifty50 hit a record peak of 25,129.6 on Wednesday, slightly closing higher than the previous day, driven by gains in IT stocks. Sensex closed at 81,785, gaining 74 points. LTIMindtree, Wipro, Divi's Labs, Bharti Airtel, and Infosys were top gainers, while Maruti Suzuki and Asian Paints lagged.

BSE shares surged 5% to Rs 2,834.80 after NSE resumed its much delayed public offering. Despite BSE's Q1 revenue soaring 181% YoY, net profit dropped 40%. Over the past year, BSE stock has risen 207%, with a recent 3% increase.

Sundaram Alternate Assets projects a 14% CAGR for Indian family offices and a 5% rise in alternative investments over three years. Family offices are increasingly shifting towards AIFs and startups.

Short covering happens when traders buy back shares they previously sold short, often due to a shift in market sentiment or new information. This usually results in a decrease in open interest and can drive the stock price higher. In Wednesday's trading session, five stocks saw short covering. Here's the list:

Shares of Rana Sugars plunged 10% to hit a day's low of Rs 21 on the BSE following a two-year ban imposed by the market regulator on 14 entities, including the company's promoters. The Securities and Exchange Board of India (SEBI) also imposed a Rs 63 crore fine for charges of fund diversion.

PDS Ltd, a global fashion sourcing and manufacturing platform, has raised Rs 430 crore through a qualified institutional placement. The funds will support PDS's expansion into new markets and categories, enhancing its sourcing regions. The company operates in over 90 locations worldwide and reported consolidated revenue of Rs 10,370 crore for FY24.

Bharti Airtel and IndiGo stocks soared to new all-time highs on Wednesday, with Bharti Airtel reaching Rs 1,545.85 (up 1.5%) and IndiGo climbing to Rs 4,944.60 (up 4.2%). Other stocks hitting their 52-week highs include IEX, ICICI General Insurance, Indian Hotels, Lupin, MCX, and SBI Life Insurance Company.

Benchmark Nifty 50 rebounded from a flat start to hit record highs on Wednesday, driven by gains in IT stocks as traders anticipate potential rate cuts by the US Federal Reserve. In today’s session, six Nifty50 stocks reached new 52-week highs, highlighting strong performances across various sectors. Here’s the list:

Short covering happens when traders buy back shares they previously sold short, often due to a shift in market sentiment or new information. This usually results in a decrease in open interest and can drive the stock price higher. In Wednesday's trading session, five stocks saw short covering. Here's the list:

Global brokerage firm Jefferies has upgraded Zydus Lifesciences to a 'Buy' rating, citing the strength of the company’s US pipeline as a major growth driver. Jefferies raised its target price to Rs 1,450 from Rs 1,210, indicating a 30% upside from the previous closing price of Rs 1,113.80.

Datamatics advances its copilot innovation by customizing solutions for each organization with support for Microsoft 365 or creating custom copilots for each unique client organization, which enables organizations to maximize the potential of copilots through a personalized, consultative approach rather than a one-size-fits-all method.

This news highlights Agrawal's growing interest in emerging businesses, particularly as the quick commerce sector experiences significant momentum in fundraising. According to an ET report, the family office of Bollywood superstar Amitabh Bachchan has also acquired a small stake in Swiggy. This was done by purchasing shares from the food delivery and quick-commerce company's employees and early investors, indicating continued confidence in the sector's potential.

After leaving everyone spellbound with a lavish Rs 5,000 crore wedding, the Ambani family is coming together again on stage this week - but this time for the much-awaited annual general meeting of Reliance Industries. The 47th AGM of India's most valued conglomerate will be held on August 29 from 2 pm in which RIL Chairman & MD Mukesh Ambani will address 35 lakh shareholders of the company.

Despite 77% of Nifty 100 stocks trading above their 20-day DMAs and 63% above their 50-DMAs, 16 stocks, including six Adani Group stocks and several PSUs, have fallen below both moving averages. According to Ace Equities data, this indicates generally favorable trends for large-cap stocks.