Broader markets rally up to 3% ahead of Fed outcome; Nifty Media jumps 13%

NSE Nifty settled the day in the red ahead of the FOMC outcome later today

4:06 PM

TECH VIEW :: Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited

The market witnessed some lackluster movement and an attempt to hold the level around the Nifty 50 Index level of 17500. The market research shows that it is going to be crucial for the short-term market scenario to sustain above the 17450-17500 Nifty50 Index support zone. If the market is able to sustain the level of 17450-17500, it can witness higher levels of 17850. The momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook. 

4:06 PM

MARKET CLOSE :: Vinod Nair, Head of Research at Geojit Financial Services

Despite hopeful signs in the global markets, domestic main indices traded in a narrow range to give away its early gains in today’s volatile session. However, the broad market was robust barring banks, all major sectors were in demand and media, metals and realty outperformed. Realty stocks were in focus owing to an increase in property registrations in September while easing jitters over the Chinese economy bolstered metal stocks. Investors traded cautiously awaiting the outcome of the FOMC meeting that will clear the air regarding Fed’s tapering plans. 

4:05 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index showed a very narrow range for a day and closed a day at 17547 with minimal loss forming a small bearish candle on the daily chart. the index has same support zone around   17500-17430 zone any dip near said levels will be again buying opportunity with keeping immediate stop out level below 17450 zone and resistance is coming near 17600-17660 zone also one can lock their trading long gains around said levels, the overall range is still in between 17300-17800 zone & either side breakout will decide the final direction. 

4:02 PM

Nifty Realty index ends over 8% higher led by Godrej Properties, DLF

4:00 PM

Among the 30 stocks in the BSE Sensex index, 16 closed with gains

3:56 PM

IPO Update :: Paras Defence IPO subscribed 36 times on Day 2 so far

3:52 PM

Zee Entertainment shares surge over 30% after company announces merger with Sony Pictures Networks India

3:49 PM

Route Mobile ends up 1.5% after board approves raising up to Rs 2,000 crore

3:46 PM

Nifty Media top sectoral gainer; closes 13% higher led by 30% surge in ZEEL

3:44 PM

Sector watch :: Most sectors end in green; financial services, select banks & FMCG closed lower

3:37 PM

Broader markets outperform benchmarks; Nifty Smallcap 100 rises by 1%

3:35 PM

CLOSING BELL :: Nifty ends down 15 points, but above 17,500-mark

3:32 PM

Sensex falls 78 points to end below 59,000-level

3:20 PM

RBI Governor says signs of world emerging from shadows of Covid pandemic

>> Although Covid still haunting global economies

 

>> Fintech, Edtech companies are likely to see increased funding

 

>> E-commerce is emerging as another positive sector

3:16 PM

Need to plan for stronger, fairer Indian economy: RBI Governor

>> Policy makers have no template to navigate Covid

>> Cos resetting supply chains as consumption patters are changing

>> Pandemic has imapcted poor & vulnerable more

 

 

3:02 PM

Market Stats :: Buying in mid-, small-cap stocks keeps market breadth in favour of advanaces

2:50 PM

European shares rise on Evergrande relief, gains in travel & leisure

>> European stocks rose on Wednesday, recovering from its early-week losses after debt-laden developer China Evergrande said it would make some interest payments, while travel and leisure index jumped to a 14-week high.

>> The Europe-wide STOXX 600 index rose 0.5%, extending Tuesday’s bounce after its worst session in two months, with commodity-linked stocks also in the lead.

Source: Reuters

2:39 PM

Axis Bank commits Rs 30,000 cr till FY26 towards sustainable lending

These commitments are in line with the Sustainable Development Goals (SDGs), supporting India's commitments under the Paris Agreement.

 

"As part of its commitments, the bank has set a target of incremental lending of Rs 30,000 crore over the next 5 years, under wholesale banking towards pertinent sectors included in its Sustainable Financing Framework (SFF)," Rajesh Dahiya, Executive Director (Corporate Centre), Axis Bank told PTI. READ MORE

2:20 PM

ITC regains Rs 3-trillion market cap; stock hits 21-month high

ITC's market capitalisation returned to Rs 3 trillion-mark on Wednesday after the stock of the biggest cigarette and second largest fast moving consumer goods (FMCG) company hit a 21-month high on the bourses. The stock hit an intra-day high of Rs 244.70, up 1 per cent on the BSE today, and was trading at its highest level since December 2019. READ MORE

 

2:11 PM

Freshworks prices IPO at $ 36 per share, to raise over $1 bn via US listing

Software-as-a-service (SaaS) company Freshworks on Wednesday announced that the company has priced its initial public offering at $36 per share. At the current price, it may raise around $1.03 billion from the offering, taking its valuation to over $10.13 billion. The shares are expected to begin trading on the Nasdaq Global Select Market under the symbol “FRSH” on September 22, 2021, and the offering is expected to close on September 24, subject to customary closing conditions. In addition, Freshworks has granted the underwriters a 30-day option to purchase up to an additional 28.5 million shares of Class A common stock at the initial public offering price less underwriting discounts and commissions. READ MORE

 

1:59 PM

Nifty IT continues to gain in afternoon trade led by Mindtree, Tech Mahindra

1:34 PM

Evergrande stock surges nearly 20% on Frankfurt Stock Exchange

1:30 PM

Nifty Realty index zooms 8.5%; DLF, Godrej Properties surge 10% each

Shares of real estate companies were on a roll in trade on Wednesday on expectation of strong demand ahead of festive season, with several lenders already announcing a rate cut. Real-esate major DLF jumped 10 per cent to Rs 363.75, while Godrej Properties hit a new high on rallying 10 per cent to Rs 1,852. Both, stocks trade in the futures & option (F&O) segment, which has no circuit limits. READ MORE

1:19 PM

ALERT :: Jindal Saw rises 3% after CARE reaffirms credit rating

1:00 PM

KPIT Technologies to acquire 25% stake acquisition of Future Mobility

>> Over a period of three years, KPIT will acquire the balance shareholding
 

>> Majority shareholding is expected to be acquired in the last quarter of FY23
 

12:50 PM

Serum Institute of India to invest $68 million in U.K.'s Oxford Biomedica

>> Oxford Biomedica is one of the Covid-19 vaccine manufacturers for drug major AstraZeneca

 

Source: Reuters

12:40 PM

Route Mobile board approves raising up to Rs 2,000 cr via issuance of securities

>> The board has constituted and authorized a fund raising committee to decide the terms and conditions of the proposed fund raising
 

>> the board has decided to convene an extra-ordinary general meeting on Saturday, October 16, 2021 to seek the approval of the committee for the proposed fund-raising activities
 

12:30 PM

India to target children for Covid-19 vaccine from October: Report

All Indian children aged 12 or older will become eligible for Covid-19 vaccinations from next month, when drug maker Cadila Healthcare launches its ZyCoV-D product, two sources with direct knowledge of the matter told Reuters. The world's first DNA-based Covid-19 vaccine, ZyCoV-D won emergency authorisation from Indian regulators last month. From October, the company, better known as Zydus Cadila, will produce 10 million doses a month. READ MORE

12:04 PM

Sector Watch :: Realty index extends gains into 2nd day, surges 4%

11:54 AM

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