Stock Market Highlights, Sept 03: Nifty closes nearly flat, Sensex in red; broader markets gain

Stock Market Highlights: The NSE Nifty 50 index has rallied 4.7 per cent or 1,140 points in the last 14 straight trading sessions.

4:00 PM

Stock Market Comment :: 'We shall continue to ride the upmove'

- Nifty opened on a flat note and consolidated during the day to close marginally in the green up 1 point. On the daily charts we can observe that the Nifty has been inching higher steadily helped by sector rotation. We shall continue to ride the upmove.

 

- On the upside we expect Nifty to target levels of 25,500. On the downside the crucial support base is placed at 25160 – 25120 where the key hourly moving averages are placed. We shall continue to ride the upmove with a trailing stoploss mechanism.

 

View by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

3:58 PM

Stock Market Comment :: 'Mild caution emerged due to recent slowdown in manufacturing activities'

- Amid mixed global signals and the absence of significant new catalysts, aside from the anticipated Fed rate cut, which is already factored in, the domestic market took a breather.

- Mild caution emerged due to a recent slowdown in manufacturing activities, which indicates a slowdown in demand. However, predictions of an above-normal monsoon extending through September and accelerated capex by the GoI in the H2FY25 boosted consumption and rural based stocks like FMCG stocks."

 

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

 

3:55 PM

Rupee Update on Tuesday :: Rupee ended 4 paise weaker vs US dollar

The Indian Rupee fell 4 paise to end at 83.9675 per US dollar vs Monday's close.

3:52 PM

Stock Market Closing Bell LIVE Updates :: Broader markets end higher

The broader indices ended higher, except for BSE Sensex, and BSE Bharat 22 index.

 

3:47 PM

Stock Market Closing Bell LIVE Updates :: Bank Nifty, Financial Services, Consumer Durables settle higher

Bank Nifty, Financial Serivices, and Consumer Durables outperformed the other sectoral indices on Tuesday. 

3:42 PM

Stock Market Closing Bell LIVE Updates :: Bajaj Finance, and Infosys among top laggards

18 stocks slipped in trade on Sensex on Tuesday, while 12 stocks posted gains.

 

3:37 PM

Stock Market Closing Bell :: Stock Market Closing Bell :: Nifty ends below 25,300

The NSE Nifty50 settled flat at 25,279.85, up merely 1.15 points. 

3:34 PM

Stock Market Closing Bell :: Sensex settles flat near 82,550

The BSE Sensex ended flat at 82,555.44, down merely 4.40 points or 0.01 per cent on Tuesday. 

 

 

3:28 PM

Stock Market LIVE Updates: ECOS Mobility IPO GMP surges 40%; experts eye double digit listing gains

Stock Market LIVE Updates:  As investors await the listing of ECOS (India) Mobility & Hospitality shares on the bourses on Wednesday, September 4, 2024, the grey market premium hints at a favourable debut for the company's shares on the BSE and NSE. The unlisted shares of ECOS Mobility, whose IPO allotment was finalised yesterday, were quoted trading at a premium of Rs 135, or 40.42 per cent higher than the upper end of the issue price of Rs 334, according to several sources that track grey market activities. READ MORE

3:18 PM

Stock Market LIVE Updates: Kitex Garments hits over 7-yr high on strong outlook; zooms 90% in 1 month

Stock Market LIVE Updates:  Shares of Kitex Garments, world’s second largest manufacturer of infant garments, were locked in upper circuit of 10 per cent at Rs 401.40 per share, hitting over seven-year high on the BSE in Tuesday’s intra-day trade on strong business outlook. In the past month, the stock of garments & apparels stock has zoomed 90 per cent, as compared to 4.8 per cent rise in the BSE Sensex. READ MORE

3:07 PM

Stock Market LIVE Updates: Sensex trades flat; Nifty at 25,282

Stock Market LIVE Updates: The BSE Sensex was quoted trading at 82577.23, up merely 17.39 points or 0.02 per cnet, while the NIfty50 traded at 25,282.35, up merely 3.65 points or 0.01 per cent. 

2:55 PM

Stock Market LIVE Updates: KIMS fixes September 13 as ‘Record Date’ for stock split

Stock Market LIVE Updates: Krishna Institute of Medical Sciences (KIMS) has fixed September 13 as ‘Record Date’ to determine the eligibility of shareholders of the company for Sub-division/split of shares.

2:50 PM

Stock Market LIVE Updates: CCD cafe count falls to 450 in FY24, rise in operational vending machines

Stock Market LIVE Updates: The number of Cafe Coffee Day (CCD) outlets declined to 450 in FY24, though the count of operational vending machines at corporate workplaces and hotels increased to 52,581. The number of Value Express kiosks also declined marginally to 265, according to the latest annual report of Coffee Day Enterprises Ltd (CDEL), which owns the chain through its subsidiary Coffee Day Global Ltd. READ MORE

 

 

2:46 PM

Stock Market LIVE Updates: Kitex Garments hits over 7-yr high on strong outlook; zooms 90% in 1 month

Stock Market LIVE Updates: Shares of Kitex Garments, world’s second largest manufacturer of infant garments, were locked in upper circuit of 10 per cent at Rs 401.40 per share, hitting over seven-year high on the BSE in Tuesday’s intra-day trade on strong business outlook. In the past month, the stock of garments & apparels stock has zoomed 90 per cent, as compared to 4.8 per cent rise in the BSE Sensex. READ MORE

2:38 PM

Stock Market LIVE Updates: Hindustan Composites to acquire stake in Swiggy; stock gains 8.6%

Stock Market LIVE Updates: Hindustan Composites shares gained 8.6 per cent and touched an intraday high of Rs 633 per share on BSE. The company's stock soared after the auto ancillary announced that it has entered into a share purchase agreement with food delivery platform Swiggy. READ MORE

 

2:25 PM

Stock Market LIVE Updates: Best Agro arm bags Anti Fungicide patent for 20 years

Stock Market LIVE Updates: Best Agro, via an exchange filing, siad “We are pleased to inform you that Seedlings India Private Limited, a wholly owned subsidiary of the Company has been granted a patent by the Indian Patent Office-Government of India for an invention entitled “Synergistic Pesticidal Composition Comprising Pymetrozine, Isoprothiolane and Strobilurin Fungicide” for the term of 20 years commencing from December 13, 2021 in accordance with the provisions of the Patents Act, 1970.” 

2:14 PM

Stock Market LIVE Updates: Anti-dumping probe into canola imports as Canada imposes EV tariff, says China

Stock Market LIVE Updates: China said on Tuesday it plans to start an anti-dumping investigation into canola imports from Canada, after Ottawa moved to impose tariffs on Chinese electric vehicles, lifting prices of domestic rapeseed oil futures to a one-month peak. READ MORE 

2:00 PM

Stock Market LIVE Updates: India business booming despite Western sanctions, says Russia's Sberbank

Stock Market LIVE Updates: Russia's trade with India is booming and bilateral payments are proceeding smoothly without the glitches that have been hampering trade with other countries, Anatoly Popov, deputy CEO of Russia's largest lender, Sberbank, told Reuters. READ MORE

 

1:50 PM

Stock Market LIVE Updates: Mankind up 3% after co looks to raise Rs 9,000 cr for Bharat Serums deal

Stock Market LIVE Updates: Mankind Pharma shares advanced 3.1 per cent and logged an intraday high of Rs 2,468.35 on the BSE, after reports indicated that the company is looking to raise Rs 9,000 crore to acquire Bharat Serums and Vaccines. The company had earlier said that the transaction will be funded by internal accruals, loans and stock. READ MORE

1:42 PM

Stock Market LIVE Updates: NaBFID planning to disburse $17 bn in loans to finance projects, says top executive

Stock Market LIVE Updates: India’s National Bank for Financing Infrastructure and Development (NaBFID) is planning to disburse $17 billion in local currency loans this year and next to finance various long term projects, a top executive said. READ MORE

1:32 PM

Stock Market LIVE Updates: RK Forgings up 6%, hits new high on investment in aluminium forging project

Stock Market LIVE Updates: Shares of Ramkrishna Forgings (RK Forgings) hit a record high of Rs 1,010.60 per share, as they rallied 6 per cent on the BSE in Tuesday’s intra-day trade in otherwise a subdued market after the company said it has received board approval for setting up an aluminium forging facility at Jamshedpur. READ MORE

1:22 PM

Stock Market LIVE Updates: Bajaj Housing Finance IPO buzz: GMP leapfrogs 80%; 5 key takeaways from RHP

Stock Market LIVE Updates: India's second-largest housing finance company, Bajaj Housing Finance, a wholly owned subsidiary of Bajaj Finance, has filed its Red Herring Prospectus (RHP) for an Initial Public Offering (IPO) to raise nearly Rs 6,650 crore. This would be among one of the largest IPOs of the year, along with Ola Electric Mobility, and Bharti Hexacom, which have already made their debuts on the bourses. READ MORE

1:20 PM

Stock Market LIVE Updates: Defence Ministry to approve major Navy, Army projects worth over Rs 1 trn

Stock Market LIVE Updates: In a major boost for the Indian armed forces, the Defence Ministry is preparing to launch several significant projects, including the construction of seven advanced frigates for the Indian Navy and a proposal by the Indian Army to replace its T-72 tanks with modern Future Ready Combat Vehicles (FRCVs). READ MORE

 

1:20 PM

Stock Market LIVE Updates: Max graft complaints in 2023 against rail, local bodies, banks, CVC report finds

Stock Market LIVE Updates: Of the total corruption complaints received by the Central Vigilance Commission last year, the highest number of plaints was against railway employees, followed by those in Delhi's local bodies and public sector banks, a report by the anti-graft watchdog showed. As many as 74,203 graft complaints were received against all categories of officers/employees in 2023, of which 66,373 were disposed of and 7,830 were pending, it said. READ MORE

1:12 PM

Stock Market LIVE Updates: Benchmarks turn flat

Stock Market LIVE Updates: Both Sensex and Nifty50 were trading flat.

1:09 PM

Stock Market LIVE Updates: Travel industry to contribute record $11 trillion to global GDP in 2024

Stock Market LIVE Updates: A record $1 out of every $10 spent globally in 2024 will be on travel as people briskly book hotels, cruises and flights, according to an annual report by the World Travel and Tourism Council, a non-profit membership organisation. The travel and tourism industry's contribution to global gross domestic product is expected to reach new heights as consumers increasingly see travel as an essential part of their budgets. READ MORE

1:06 PM

Stock Market LIVE Updates: Rising incomes may propel household asset growth, says RBI's Michael Patra

Stock Market LIVE Updates: With rising incomes, households are expected to rebuild their financial assets, said Michael Debabrata Patra, Deputy Governor of the Reserve Bank of India, on Tuesday. He noted that the rebuilding process has already begun, with household savings increasing from an average of 10.6 per cent between 2011 and 2017 to 11.5 per cent during 2017-2023, excluding the pandemic year. READ MORE

1:05 PM

Stock Market LIVE Updates: 'Go for gold' as China weighs on other commodities, says Goldman Sachs

Stock Market LIVE Updates: Goldman Sachs believes gold has the highest potential for a near-term price hike due to its status as a preferred hedge against risk, while weak demand from China has led to a "more selective, less constructive" view of other commodities. READ MORE

 

12:57 PM

Stock Market LIVE Updates: This brokerage's stock price has zoomed 53% in 3 weeks

Stock Market LIVE Updates: Shares of brokerage firm Geojit Financial Services hit a record high of Rs 154.60, surging 14 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes. The market price of the stock brokerage and allied services company are trading higher for the third straight day, having rallied 20 per cent during the period. READ MORE

12:56 PM

Stock Market LIVE Updates: Broader markets continue to rise

Stock Market LIVE Updates: Broader markets gain; Nifty MidCap, SmallCap up over 0.5 per cent each.