Sensex up 173 pts on Nomura upgrade, Nifty tops 19,700; all but banks gain

Closing Bell on September 27, 2023: Among sectors, most of the key indices settled in the positive zone with the Nifty Pharma index gaining the most, up 1.2 per cent

4:02 PM

Tech View :: Here's why 'Buy on Dips' is suitable for Bank Nifty right now

The Bank NIFTY bulls displayed resilience by defending the key support level at 44,200, which coincided with the rising trendline support. However, the index is currently trading below its 20-day moving average (20DMA) positioned at 45,000. A decisive break above this level could trigger significant short-covering.Currently, the BankNIFTY is trading within a broad range of 44,200 to 45,000. A clear break on either side of this range will likely lead to trending moves. Nevertheless, within this range, the overall sentiment remains bullish, suggesting that a "buy on dip" approach may be favorable.

Views by: Kunal Shah, Senior Technical & Derivative analyst, LKP Securities

4:01 PM

Tech View :: 'Decisive move above 19,750 will push Nifty to...'

The Nifty showed a strong recovery during the day, finding support at the 50-EMA. The day concluded with the formation of a bullish engulfing pattern. On the upper side, resistance is situated at 19,750. A clear breakout is necessary to anticipate a substantial rally in the index. A decisive move beyond 19,750 could potentially push the index towards 19,900. On the downside, support is established at 19,600.

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

4:00 PM

Comment :: 'Nifty has immediate hurdle at 19,750'

The impending rebound in select heavyweights like Reliance and ITC largely contributed to the recovery. We are eyeing 19,750 in Nifty as an immediate hurdle and its break may prompt further rebound else profit taking would resume. Amid all, the scheduled monthly expiry of derivative contracts would keep the volatility high so plan your trades accordingly.

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

3:58 PM

Comment :: Here's why broad market mood may remain weak in near-term

The market inched higher in the second half, driven by positive openings in European markets. Concerns about global interest rates and elevated oil prices are being balanced by several domestic factors, such as promising economic growth prospects and the potential for strong earnings, which validate the premium valuation. The FMCG and Pharma sectors outperformed, with investors adopting a defensive approach to navigate global challenges. However, persistent outflows of foreign funds and rising US bond yields are expected to keep the broader indices in bleak terrain, in the near-term.

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

3:56 PM

Currency check :: Rupee ends flat vs US dollar

3:53 PM

IPO Update :: Updater Services sails through on final day

3:52 PM

IPO Update :: JSW Infra subscribed nearly 36x till 3:30 PM on final day

>> Bidding closes at 5:00 PM today

3:50 PM

Buzzing stock :: PNB hits highest level since July 2019

3:48 PM

Buzzing stock :: Vedanta sinks 7% as Moody's downgrades corporate family rating

3:47 PM

New Listing :: Sai Silks surges 10% on debut day

3:45 PM

New Listing :: Signature Global ends 19% higher on listing day

3:44 PM

Broader markets outshine frontline peers; Midcaps steel the show

3:43 PM

Sectoral trends :: Nifty Bank, Financial Services indices only losers Wednesday

3:41 PM

Nifty Losers :: Titan, Grasim end over 1% lower each

3:39 PM

Nifty Gainers :: L&T, Coal India gain 2% each

3:38 PM

Sensex Heatmap :: Less than 10 stocks settle lower; Titan, SBI HDFC Bank fall

3:37 PM

Closing Bell :: Nifty reclaims 19,700 after hitting 19,554 intraday

3:35 PM

Closing Bell :: Sensex gains over 150 pts as Nomura upgrades India

3:26 PM

PNB hits over 4-year high; m-cap nears Rs 1 trillion

On September 20, Care Ratings revised the ratings assigned to the debt instruments of PNB with stable outlook. The revision in ratings factors in sustained improvement in asset quality parameters and reduction in incremental slippages, which, along with expected recoveries from non-performing assets (NPAs), is expected to further improve the asset quality leading to lower credit cost and resultant improvement in profitability going forward, the rating agency said. READ MORE

3:15 PM

Sebi examining proposal for extended derivative trading hours: Report

The National Stock Exchange (NSE) has sent a proposal to the Securities and Exchange Board of India (Sebi) to have an evening session to trade in index futures and options to help investors to hedge risks, an NSE official told Reuters.
 

Sebi is assessing whether the extended hours will fuel already high derivative trading volumes and if the trade settlements will be smooth, one source said. READ MORE

3:00 PM

Yes Bank appoints Manish Jain as country head of Wholesale Banking

Yes Bank has announced the appointment of Manish Jain as the new country head of Wholesale Banking, effective September 27. He succeeds Ravi Thota, who resigned on August 2, 2023, citing personal and professional reasons, but continued to serve the bank until September 26, 2023. READ MORE

2:49 PM

Gravita India surges 15%, hits record high on positive business outlook

The management has set an ambitious growth plan called 'Vision 2027', aimed at achieving a compound annual growth rate (CAGR) of at least 25 per cent. READ MORE

2:37 PM

Travel and tourism industry's hiring demand up 44% YoY in August: Report

Sales and business development roles have the highest hiring demand in the travel & tourism industry, and demand for gig workers, such as photographers, event planners, etc have increased by 14%. READ MORE

2:26 PM

Market check:: BSE MidCap index at day's high, up 0.7%; PFC, RECL lead charge

2:13 PM

Residential sales in India poised to breach decadal high this year: CBRE

Led by demand for homes priced between Rs 1 crore and Rs 1.5 crore, the sale of 300,000 units this year is expected to be much higher than the five-year average of 187,000 units. READ MORE

2:01 PM

ALERT:: Man Infraconstruction gets IOD nod for luxurious residential project in Mumbai; stock up 4%

1:47 PM

Sensex Heatmap:: L&T, RIL lead pullback; Titan, Nestle sag

1:39 PM

Market check:: Sensex at day's high, up 150 pts; gains 550 points from the day's low

1:24 PM

Aditya Birla Fashion acquires 51% stake in TCNS Clothing, becomes promoter

"The company has acquired 51 per cent of the expanded share capital of TCNS, thereby acquiring control over TCNS," ABFRL said in a late night regulatory filing on Tuesday. READ MORE

 

1:09 PM

Asian Market Update:: Hang Seng shines in mixed outing

Source: Yahoo Finance