Sensex, Nifty end flat after hitting record highs; broader indices gain 1%

Closing Bell on September 14, 2023: Sectorally, the Nifty PSU Bank index gained 1.64 per cent, the Nifty Metal index added 1.5 per cent, and the Nifty Realty eked out gains of 1.4 per cent

4:11 PM

Tech View :: 'Buy on dip' strategy prudent for Nifty, Bank Nifty

Nifty50
Nifty remained range-bound throughout the day as the index failed to deliver any decisive breakout from the recent range. The "buy on dips" strategy is expected to be the preferred approach until Nifty falls below 19,900 decisively. On the upside, call writers at 20,100 are likely to defend the index against further upward movement. A sustained trade above 20,100 could potentially trigger a significant rally in the short term.

 

Bank Nifty

Bank Nifty remained range-bound throughout the day as the index failed to deliver a decisive breakout above 46,000. The index continues to be a "buy on dips" as long as it stays above 45,500. Nevertheless, a sustained rally could materialize if Bank Nifty decisively breaches the 46,000 mark.

Views by: Rupak De, Senior Technical analyst at LKP Securities

4:04 PM

Comment :: 'Investors should focus on stock selection, prefer index majors'

The rotational buying across sectors is helping the index to inch gradually higher amid mixed global cues. We are eyeing 20,300 in the Nifty and expect the 19,800-19,950 zone to offer cushion in case of any dip. Meanwhile, participants should maintain their focus on stock selection and prefer index majors. 

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:57 PM

Comment :: Which factors will likely cap the market rally?

The market traded range-bound after touching a new high as slightly higher-than-expected US inflation and anticipation of hawkish ECB policy meetings later today impacted investor sentiment. Concern over valuation and inflation trajectory due to increasing oil prices may navigate the market into a consolidation phase in the near-term.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

3:55 PM

Currency check :: Rupee ends at 83.03/$ against Wednesday’s close of 82.99/$

3:54 PM

BSE Stats :: Advance-Decline ratio firm at 2:1

3:51 PM

Market Check :: Top losers on the BSE today

3:49 PM

Market Check :: Top gainers on the BSE today

3:48 PM

Sector check :: Nifty Metal index gains amif hefty buying in Welspun, NMDC

3:46 PM

Sector check :: PSU Bank index hits new high again, ends atop 5,000-mark

3:44 PM

Sector check :: FMCG index ends lower as WPI inflation rises in August

3:42 PM

Sectoral trends :: All but FMCG, Media indices gain Thursday

3:39 PM

Sensex Heatmap :: M&M, Tata Steel shine in a range-bound session

3:37 PM

CLOSING BELL :: Nifty ends atop 20,100

3:36 PM

CLOSING BELL :: Sensex ends 50 pts higher, hits record high of 67,771 intraday

3:27 PM

MF tracker: Maximum decline seen in financial stocks in August 2023

Domestic institutional investors recorded notable inflows of $3 billion in August 2023 after remaining muted for the last four months. FIIs remained net buyers for the sixth consecutive month at $1.7 billion in August 2023; while year-to-date inflows stood at $16.4 billion. READ MORE

3:19 PM

ALERT :: SAT to hear Punit Goenka case at 4:30 PM today

3:10 PM

With 71% jump in 4 days, this PSU stock is at its highest level since 1994

The average trading volumes on the counter nearly doubled with a combined 31.2 million equity shares, representing 3.2 per cent of total equity, having changed hands on the NSE and BSE. READ MORE

2:54 PM

MasterCard appoints former SBI chief Rajnish Kumar as chairman

Kumar will guide Mastercard’s South Asia executive leadership team led by Gautam Aggarwal, division president for South Asia and country corporate officer, India, "in navigating the vibrant domestic payments landscape", said the company about the appointment in a press statement. READ MORE

2:42 PM

Fitch retains India's growth forecast at 6.3%, flags inflation risks

"The Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, with growth outpacing other countries in the region," Fitch said, while projecting 6.3 per cent growth for current fiscal, and 6.5 per cent for next fiscal. READ MORE

2:27 PM

JP Morgan bond index rebalancing: Borrowing costs in India to get cheaper

Moreover, the Reserve Bank of India (RBI) has been taking feedback from foreign banks to better handle increased custodian flows from foreign investors. Currently, JP Morgan assigns a maximum of 10 per cent weightage to a country. READ MORE

2:15 PM

ALERT :: Income Tax survey at Alkem Labs' premises, says report; stock in red

2:04 PM

India's outward FDI falls 33% sequentially to $1.2 bn in Aug: RBI data

Outbound FDI, expressed as financial commitment, has three components: Equity, loans, and guarantees. A slowdown in economic and business activities, especially in developed markets, has impacted direct investment flows, both inbound and outbound, bankers said. READ MORE

1:52 PM

ALERT :: Kedaara Cap buys significant minority stake in Navneet Education arm, says report

According to TV report:

>> Kedaara Cap buys significant minority stake in K12 Techno

>> K12 Techno Services is a sub-brand by Navneet Education

>> Kedaara will work with Peak XV Partners, Navneet Education & Sofina Ventures

 

1:36 PM

ALERT :: Axis Finance files case against Zee Entertainment

ZEEL says:

The company has been served with an appeal on behalf of Axis Finance Limited against the company before the NCLAT, Delhi, challenging the order dated August 10, 2023 passed by NCLT, Mumbai Bench.
 

1:23 PM

ALERT :: Intellect Design Arena arm signs deal with AFC Commercial Bank to modernise banking

>> Intellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena Limited, has announced that AFC Commercial Bank has chosen iGCB's Core Banking offering, Intellect Digital Core (IDC) to modernise its banking operations.

READ HERE

1:11 PM

ALERT :: Insecticides (India) granted patent for invention titled 'Novel Amid compound'

12:55 PM

ALERT:: L&T teams up with BAE Systems for BvS10 vehicles; stock marginally up

BAE Systems and Larsen & Toubro (L&T) have partnered to bring the world-leading Articulated All-Terrain Vehicle (AATV), the BvS10, to the Indian market. The two companies have signed an agreement to offer the BvS10 for an Indian Armed Forces programme.

12:43 PM

Hindalco surges 7% in 2 days on pact with Italian firm to make rail coaches

Meanwhile, Novelis, as subsidiary of Hindalco, expects global demand for aluminum beverage can sheet to grow at a 3 per cent compounded annual growth rate from 2022 to 2031. READ MORE

12:29 PM

ALERT:: Grasim unveils brand name for paint biz 'Birla Opus'; stock trades flat

Grasim Industries today unveiled the brand name of its paints business, 'Birla Opus'. The market launch of Birla Opus is scheduled for Q4FY24. Grasim will offer a full suite of high-quality products in the decorative paints segment.

12:15 PM

ALERT:: Cipla sale in jeopardy as family seeks $13 billion valuation; stock up 0.5%

Cipla sale in jeopardy as family seeks $13bn valuation

 

Source: Bloomberg