Sensex ends 241 pts higher, Nifty reclaims 19,500; IT, Metal stocks shine

CLOSING BELL ON SEPTEMBER 04, 2023: In the broader market, the BSE MidCap and the SmallCap indices gained close to a per cent each on Monday.

4:24 PM

Surprise election outcome in May can see markets tank 40%: Morgan Stanley

The defining moment, Ridham Desai said, could be if and when the 26-party opposition alliance, known as I.N.D.I.A., is able to strike a seat-sharing deal. READ MORE

4:19 PM

COMMENT:: Hopes of a Fed pause, positive global cues lift sentiment

"Recent releases of domestic macroeconomic data have portrayed a positive picture for the domestic markets, allowing them to maintain their momentum. Despite profit booking in Nifty Auto after reaching an all-time high, the market regained its footing with robust buying in IT stocks. The increase in the US unemployment rate has solidified expectations of a pause in rate hikes, and positive global cues have further boosted market sentiment."

 

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:18 PM

VIEW:: Nifty to remain bullish above 19,525

"Nifty continues to stay in the bullish territory as the index has maintained its position above the channel breakout level. The trend is expected to stay positive as long as it remains above 19,525. On the upside, the index could potentially extend its gains towards 19,750. Conversely, if it falls below 19,400, we may witness a period of consolidation."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:18 PM

VIEW:: Bank Nifty can rally to 45,000, after clearing hurdle at 44,650

"The Bank Nifty index remains under bullish momentum, finding support within the 44,300-44,200 zone, which serves as a safety net for the bulls. The immediate obstacle on the upside is situated at the 44,600-44,650 zone. A successful breach above this resistance level would pave the way for further upward movement, potentially targeting the 45,000 level, where a substantial amount of open interest exists on the call side, making it a key area to watch."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities

4:12 PM

Nazara Tech soars 10% as Zerodha founder Nikhil Kamath plans Rs 100 cr investment

The company said it is proposing to issue 1.4 million equity shares at a price of Rs 714 per equity share aggregating to Rs 100 crore proportionately to Kamath Associates & M/s NKSquared. READ MORE

4:10 PM

IRFC hits new high; market cap cross Rs 80,000 crore

Shares of state run financier Indian Railway Finance Corporation (IRFC) hit a record high of Rs 66.78 on the BSE. READ MORE

4:08 PM

Rising crude, uncertainty ahead of elections keep analysts wary on OMCs

Analysts say the already weakening marketing margins will be a concern ahead as the fate of OMCs remains tied to uncertain crude prices and the inability to raise prices amid the coming elections. READ MORE

4:07 PM

BSE ups share buyback price, fixes record date; stock soars 28% in 4 days

BSE announced increase in the buyback offer price from Rs 816 per equity share to Rs 1080 per share. READ MORE

4:05 PM

GMR Power zooms 20% as Group wins contract worth of Rs 5,123 cr in UP

The company said the total contract value for Prayagraj & Mirzapur Zone is about Rs 2,386.72 crore and for Varanasi & Azamgarh Zone is about Rs 2,736.65 crore. READ MORE

4:02 PM

Market breadth was fairly positive; 2,304 stocks advanced v/s 1,439 declining shares on the BSE

4:00 PM

Nifty PSU Bank index advances 2.4%; Bank of Maharashtra rallies 8.5%

3:59 PM

Nifty Metal index jumps 2.3%; NALCO, SAIL, NMDC gain around 6%

3:56 PM

Nifty IT index surges over 2%; Wipro, Persistent Systems, HCL Tech top movers

3:54 PM

BSE Smallcap Heatmap:: MMTC, GMR Power, JP Associates, Magadh Sugar soar up to 20%

3:52 PM

BSE Midcap Heatmap:: IRFC zooms 20%; IDBI, Yes Bank, 3M India rally 6-8%

3:50 PM

MidCaps, SmallCaps outperform; India VIX dips 3.5%

3:48 PM

Nifty 50 Losers:: M&M and Nestle slip 1%; ITC, Bajaj twins also decline

3:46 PM

Nifty 50 Gainers:: Coal India, Wipro, UltraTech, HCL Tech, Jio Financial and Tata Steel gain around 4% each

3:43 PM

Sensex 30 Heatmap:: 16 Gainers v/s 14 Losers

3:42 PM

CLOSING BELL:: NSE Nifty50 finishes with a gain of 94 pts at 19,529

3:40 PM

CLOSING BELL:: S&P BSE Sensex extends rally for the second straight day, ends 241 pts higher at 65,628

3:15 PM

ALERT:: Paytm launches Paytm Card Soundbox; stock trades flat

One97 Communications Limited, that owns the brand Paytm, today announced the launch of its latest innovation – Card Soundbox. With this, the company empowers merchants to accept both mobile and card payments across all Visa, Mastercard, American Express and RuPay networks through its iconic Soundbox with 'tap and pay' that will help merchants scale their business, the company said in a release to the exchanges.

2:59 PM

Small, mid or large, many 'caps' cos wear: Polycab, PFC take pole position

An equivalent number of stocks will experience downgrades, moving from large-cap to mid-cap and from mid-cap to small-cap. READ MORE

2:41 PM

Volkswagen in 'advanced talks' with Mahindra on MEB platform for EVs

Mahindra & Mahindra wants to use central MEB components such as the e-drive and unit cells for its models, said Volkswagen in a statement. READ MORE

2:24 PM

Rising crude, uncertainty ahead of elections keep analysts wary on OMCs

Analysts say the already weakening marketing margins will be a concern ahead as the fate of OMCs remains tied to uncertain crude prices and the inability to raise prices amid the coming elections. READ MORE

2:06 PM

NBFC credit sanctions decline sharply to 5.7% in Q1FY24, gold loan up 47.7%

Sequentially, the sanctioned shrunk by 20.3 per cent over the quarter ended March 2023 (Q4FY23), data from Finance Industry Development Council (FIDC)-CRIF showed. READ MORE

1:48 PM

ALERT:: NBCC (India) wins Rs 20 cr order; stock rallies 4%

NBCC (India) in an exchange filing said that it received an order worth Rs 20 crore for structural and non-structural repairs at Mint, Mumbai factory premises along with Renovation Works & Structural and Non-structural repairs of residential quarters at Mint Premises.

1:29 PM

Reliance Jio seeks up to $2 billion loan in offshore loans to fund 5G plan

The report neither mentioned the individual amounts that Jio will pay back to Ericsson, BNP and other entities in the loan deal nor clarified whether BNP was acting on behalf of a consortium. READ MORE

1:13 PM

Investment-worthy value stocks see sharp dip, says ICICI Securities

The population of 'investable value stocks' largely comprises names related to financials, 'fossil fuel energy' and other materials. READ MORE

12:53 PM

Asian Market Update:: Hang Seng surges 2.4%; Shanghai 1.3%

Source:Yahoo Finance