Market Close Highlights, Sept 23: Sensex adds 384 pts; Nifty ends near 25,950; PSB index soars 3%

Stock Market Highlights: 34 out of 50 constituent stocks on Nifty50 ended higher with gains led by Bajaj Auto, Mahindra & Mahindra, ONGC, Hero MotoCorp, and SBI Life Insurance

3:57 PM

Tech View: Nifty signals further up move towards 26,000 mark

Nifty opened with gains and traded with a positive bias during the day to close with gains of 148 points. On the daily charts we can observe that the Nifty is rising steadily towards the upper end of the rising channel 26,000 – 26,100 zone. The divergence on the daily and hourly time frame momentum indicator is hinting towards caution however until there is specific evidence of a weakness on the price front, we shall continue to ride the upmove with a trailing stoploss mechanism which should be kept at 25,700.

 

Bank Nifty has witnessed follow-through buying interest after closing at an all-time high in the previous trading session. The bank Nifty is heading towards 55000. Intermediate pullbacks or intraday dips should be used as a buying opportunity. The support zone is now placed at 53350 – 53500 as per the principle of role reversal.

(Tech View: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas, for your reference.)

3:49 PM

Stock Market LIVE Updates: Euphoria from Fed rate cut continues to lift the market

The euphoria from the Fed rate cut continued to lift the domestic market. The benign input costs and an expectation of a change in stance by the RBI amid cuts by global banks will provide tailwinds to valuation. Though there is moderation in India PMI data, investors are anticipating that the wave of liquidity from FII may provide stability in the sentiment.

(Comment by: Vinod Nair, Head of Research, Geojit Financial Services.)

3:46 PM

Stock Market LIVE Updates: Bajaj Auto, M&M, ONGC gain 3% each on NSE

Bajaj Auto remained the top gainer on NSE ending 3.66 per cent higher, closely followed by M&M and ONGC gaining around 3 per each. 

3:44 PM

Sectoral trends:: Nifty PSU Bank, Realty and Nifty Auto advance

The Nifty PSU Bank outperformed across sectors ending 3.41 per cent higher, followed by Nifty Realty, and Nifty Auto among others

3:41 PM

Stock Market LIVE Updates: Broader markets outperform benchmarks

Stock Market LIVE Updates: The broader indices outran benchmarks on Monday, with BSE SmallCap as well as BSE MidCap index closed 0.73 per cent higher each. 

3:39 PM

Heatmap check: M&M, SBI top gainers on Sensex

M&M was the top gainer on Sensex at close on Monday, rising 3.18 per cent and was followed by SBI, Bharti Airtel and HUL among others. 

3:36 PM

Closing Bell: Nifty finishes 148 points higher at 25,939

NSE's Nifty50 index, too, ended on a new all time closing high of 25,939 level, up 148 points or 0.57 per cent on Monday.

3:34 PM

Closing Bell: Sensex ends at fresh lifetime high of 84,928.61

The benchmark index BSE Sensex closed 384 points or 0.45 per cent higher at fresh record close of 84,928.61 level on Monday. 

3:15 PM

Stock Market LIVE Updates: Amber Enterprises zooms 19%, stock hits new peak on strong growth outlook

Shares of Amber Enterprises hit a record high of Rs 5,177.95, skyrocketing 19 per cent on the BSE in Monday’s intra-day trade on expectation of strong earnings growth. The company\, engaged in household appliances business is also likely to witness healthy revenue growth going ahead, driven by strong traction in the electronics manufacturing service (EMS) industry.

At 02:40 pm; Amber was trading 15 per cent higher at Rs 4,991 a piece, as compared to 0.42 per cent rise in the BSE Sensex. The stock surpassed its previous high of Rs 4,880 that it touched on July 9, 2024. Read more

3:02 PM

Stock Market LIVE Updates: 3 PM market update - Benchmarks at fresh record high

Stock Market LIVE Updates: Indian equity benchmark indices BSE Sensex and Nifty 50 were trading at record high levels on Monday.

At 3:00 PM, the BSE Sensex was up 340 points, or 0.40 per cent, at 84,885, while the Nifty 50 was at 25,923, up 132 points, or 0.51 per cent

2:50 PM

Stock Market LIVE Updates: Govt steps up buffer stock sale to control onion prices after duty removal

Stock Market LIVE Updates: The government has intensified its efforts to check onion prices by stepping up the sale of buffer stock in wholesale markets, following a spike in retail prices after the recent removal of export duty. Consumer Affairs Secretary Nidhi Khare on Monday said the Centre has begun offloading onions from its buffer stock in wholesale markets of Delhi and other key cities, with plans to expand subsidised retail sales nationwide. READ MORE

2:47 PM

Stock Market LIVE Updates: About 83% of Indian buyers will consider new energy vehicles by 2030, study reveals

Stock Market LIVE Updates: A recent survey shows strong interest of Indian consumers in new energy vehicles (NEVs), with as many as 83 per cent of respondents ready to accept new energy vehicles (NEV) as the only option when considering a purchase by the end of this decade. READ MORE

 

2:45 PM

Stock Market LIVE Updates: 'Rupee appreciated on Monday amid positive domestic markets'

-- Indian Rupee appreciated on Monday amid positive domestic markets with domestic equities hitting fresh all time highs.

-- However, Rupee lost initial gains on a strong American currency (US Dollar) and firm crude oil prices.

-- The US Dollar recovered on disappointing PMI data from France, Germany, Eurozone, and the UK. India's Services PMI fell to 58.9 in August VS 60.9 in July.

 

-- We expect Indian Rupee to trade with a slight positive bias on positive global equities and fresh FII inflows.

-- However, a recovery in the greenback and elevated crude oil prices may cap sharp upside.

-- Investors may watch out for US GDP, consumer confidence and core PCE price index data from the US this week. We expect USDINR to trade in the range of 83.35-83.75

 

Views by: Anuj Choudhary, research analyst, Sharekhan by BNP Paribas

 

2:39 PM

Stock Market LIVE Updates: myTVS launches Mobility-as-a-Service for last-mile EV fleet operators

Stock Market LIVE Updates: myTVS, India’s largest digital automotive aftermarket platform and part of the $3 billion TVS Mobility Group, on Monday announced the launch of its pan-India ‘Mobility-as-a-Service’ (MaaS) platform for last-mile electric vehicle (EV) fleet operators. READ MORE

 

2:34 PM

Stock Market LIVE Updates: Fresh formal hirings increase in July by 2.5% to 1.05 million, EPFO data finds

Stock Market LIVE Updates: The number of monthly fresh formal hirings increased in July, signalling a recovery in the formal labour market. In July, the number of new monthly subscribers under the Employees’ Provident Fund (EPF) increased by 2.6 per cent to 1.05 million from 1.02 in June, according to the latest monthly payroll data released by the Employees’ Provident Fund Organisation (EPFO) on Monday. READ MORE

2:33 PM

Stock Market LIVE Updates: Nifty FMCG hits record high

Stock Market LIVE Updates: Nifty FMCG hits record high of 66,438.70 levels.

2:29 PM

Stock Market LIVE Updates: Upcoming IPO! Casagrand Premier files DRHP for Rs 1,100-cr issue with Sebi

Stock Market LIVE Updates: Tamil Nadu-based leading real estate developer Casagrand Premier Builder has filed the draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (Sebi) to raise Rs 1,100 crore through an initial public offering (IPO). As per the DRHP papers, Casagrand Premier Builder is offering a fresh issue of equity shares worth up to Rs 1,000 crore, and an offer for sale with promoters offloading shares worth nearly Rs 100 crore. Arun MN and Casagrand Luxor are among the promoters who are offloading their stake via the public issue. READ MORE

2:26 PM

Stock Market LIVE Updates: Nifty Bank crosses 54,100-mark for the first time

Stock Market LIVE Updates: Nifty Bank has crossed 54,100-mark for the first time ever. Previous high was 54,066.10 levels.

2:23 PM

Stock Market LIVE Updates: Acceptability of new energy vehicles set to soar by end of decade, survey reveals

Stock Market LIVE Updates: Majority of new car buyers, who participated in a study, were ready to accept new energy vehicles (NEV) as the only option when considering a purchase by 2030, according to a survey. The buyers would be willing to pay a premium of up to 49 per cent for an electric vehicle above the cost of a comparable petrol/diesel vehicle, a survey from Urban Science and The Harris Poll has revealed. READ MORE

2:21 PM

Stock Market LIVE Updates: Govt held several roadshows for stake sale in Hindustan Zinc, says Mines secy

Stock Market LIVE Updates: The government has conducted several roadshows in the last 15 days in financial capitals like Mumbai, London, Boston and New York to assess the market and meet investors for sale of its stake in Vedanta Group firm Hindustan Zinc Ltd. The government, which owns 29.5 per cent in the company, is the largest minority shareholder in Hindustan Zinc. READ MORE

2:18 PM

Stock Market LIVE Updates: M&M Financial board okays fundraising of up to Rs 1,250 crore via NCDs

Stock Market LIVE Updates: M&M Financial board has approved fundraising of up to Rs 1,250 crore via NCDs on a private placement basis. 

Source: BSE

2:15 PM

Stock Market LIVE Updates: ICICI Pru hits lifetime high as CRISIL reaffirms 'AAA' rating on NCDs

Stock Market LIVE Updates: ICICI Prudential Life Insurance Company shares rose 2.5 per cent intraday, registering an all-time high of Rs 787.8 per share on the BSE. At around 1:53 PM, shares of ICICI Prudential were up 2.13 per cent at Rs 784.75 per share on the BSE. By comparison, the BSE Sensex traded 265.28 points (0.3 per cent) higher at 84,809.59 around the same time. READ MORE

 

2:14 PM

Stock Market LIVE Updates: ITCONS e-Solutions secures order worth Rs 45 crore

Stock Market LIVE Updates:  ITCONS e-Solutions has bagged an order worth Rs 45 crore from Proteam Advisory Solutions LLP for providing technical services for the period of 3 years.

Source: BSE

2:12 PM

Stock Market LIVE Updates: This smallcap telecom equipment stock has zoomed 103% in 2 months

Stock Market LIVE Updates: Shares of Optiemus Infracom (OIL) hit an all-time high of Rs 788, as they surged 17 per cent on the BSE in Monday's intraday trade, amid heavy volumes on the back of a healthy business outlook. In the past eight trading days, the stock of the telecom equipment and accessories company has rallied 40 per cent. In two months, it has zoomed 103 per cent. READ MORE

 

2:11 PM

Stock Market LIVE Updates: China's fuel oil imports set to slow down on anticipated tax changes

Stock Market LIVE Updates: China is planning a tax revamp that would raise costs for imported fuel oil, prompting independent refiners to slow purchases in another blow to a sector reeling from thin processing margins amid faltering demand, industry sources said. READ MORE

 

2:05 PM

Stock Market LIVE Updates: Bank of Baroda ties up with EaseMyTrip to launch co-branded travel debit card

Stock Market LIVE Updates: Bank of Baroda has inked a pact with EaseMyTrip to roll out co-branded travel debit card.

Source: BSE

2:01 PM

Stock Market LIVE Updates: NBCC shares rise on order worth Rs 1,261 crore from Bihar's Health Ministry

Stock Market LIVE Updates: NBCC share price moved up by 2.52 per cent at Rs 178.50 per share on the BSE in Monday’s intraday deals. The state owned civil construction company’s stock price jumped after the company’s subsidiary HSCC bagged a work order worth Rs 1,261 crore.  READ MORE

 

2:01 PM

Stock Market LIVE Updates: 2 PM market update - Benchmarks continue to rise

Stock Market LIVE Updates: BSE Sensex was trading 0.31 per cent or 265 points higher at 84,809.14 levels while Nifty50 was trading 0.45 per cent or 115 points higher at 25,906.35 levels.

2:00 PM

Stock Market LIVE Updates: Indian real estate mkt to jump manifold by 2047, to touch $10 trn, report finds

Stock Market LIVE Updates: Indian real estate market size is estimated to jump multi-fold to $5-7 trillion by 2047 and may even touch $ 10 trillion driven by rising economic growth and rapid urbanisation, according to a report by CREDAI and Colliers. READ MORE

 

1:54 PM

Stock Market LIVE Updates: Anurag Roy resigns as CEO of Astec LifeSciences to pursue other opportunities

Stock Market LIVE Updates: Astec LifeSciences today announced that its CEO and whoe-time director, Anurag Roy has tendered his resignation, to pursue opportunities outside the company.

The company, in an exchange filing, stated, "Mr. Anurag Roy has tendered his resignation as the “Whole Time Director & Chief Executive Officer” of the Company, with effect from closure of business hours on 25th October, 2024, for pursuing opportunities outside the Company."