Market Highlights, Sept 20: Sensex up 1360pts, ends above 84,500; Nifty near 25,800 amid broad gains

Stock Market Highlights: Indian equity benchmark indices ended the week's last trading session at record high closing levels

4:01 PM

Stock Market Comment: 'The short term trend of Nifty is sharply positive'

A long bull candle was formed on the daily chart, which indicates a decisive upside breakout in the market. The Nifty has broken above the range as well as the trend line resistance around 25,500 levels.

 

On the weekly chart, the Nifty has formed a reasonable bull candle that has surpassed the congestion area of the last three weeks around 25,300-25,500 levels and closed higher. 

 

The short term trend of Nifty is sharply positive. Having surged up in one session on Friday, there is a possibility of consolidation/breather pattern in the short term, before moving up further. 

 

Next upside targets, as per Fibonacci extension, are around 26,250. Immediate support is at 25,650.  

Views by: Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities

3:49 PM

Stock Market Comment: What all happened in the markets today?

The Indian market has joined the rally following the 50bps Fed rate cut and super accommodative monetary policy. It is expected to bring positivity to the economy and foreign inflows in the short to medium-term as the global economy continues to be robust. Traction is on rate sensitive sectors like Auto & Finance. Conventional sectors like FMCG are also performing well in anticipation of good results led by the dual benefit of demand and reduction in input cost.

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

3:45 PM

Rupee Closing: Rupee strengthens further versus US dollar

>> Rupee gains 11 paise, ends at 83.57 per US dollar

3:44 PM

Stock Market Closing Bell LIVE Updates: Realty index climbs 3%, Nifty Bank ends near 53,800

>> Nifty Bank index hit record high of 54,066.10 during the day, crossing 54,000 for the first time

>> Nifty Bank ended 1.4% higher

>> Nifty Auto jumped around 2% today, while Metal index climbed 1.6%

> Nifty Realty index soars 3% on the NSE

3:41 PM

Stock Market Closing Bell LIVE Updates: MidCap index rises in tandem with benchmarks

>> Nifty MidCap index rises 1.4% on Friday

>> Nifty SmallCap index gains 0.98%

>> Markets saw broad-based gains despite VIX rising over 2%

3:39 PM

Stock Market Closing Bell LIVE Updates: Only 2 stock saw mild losses on Sensex today

>> SBI, Bajaj Finance end up to 0.7% lower on the Sensex today

>> M&M, ICICI Bank, JSW Steel, L&T, Bharti Airtel, Nestle India, Adani Ports, HUL, and Kotak Bank settle as top Sensex gainers today, Friday, Sept 20

3:37 PM

Stock Market Closing Bell LIVE Updates: Nifty jumps nearly 400 pts on Friday

>> Fri-yay for markets as NSE Nifty50 shuts shop at 25,790.95, up 375.15 points or 1.48%

>> Bulls took Nifty50 to record high levels of 25,849.25 during the day

3:35 PM

Stock Market Closing Bell LIVE Updates: Bulls charge on D-St! Sensex soars over 1,300 pts

>> BSE Sensex ends at 84,544.31 on the BSE, up 1359.51 points or 1.63% today

>> BSE Sensex hits a record high of 84,694.46 in the intraday trade

3:26 PM

Stock Market LIVE Updates: HUL hits new high, market cap touches Rs 7 trillion

In the April to June quarter (Q1FY25), HUL delivered a robust performance with an underlying volume growth (UVG) of 4 per cent. Underlying sales growth (USG) was 2 per cent due to the impact of price reductions taken during the year as the company passed on benefits of lower commodity prices to consumers. The management remains confident of the medium to long term potential of the Indian FMCG sector. READ MORE

3:15 PM

Stock Market LIVE Updates: From auto to banks to IT: Analysts pick top sectors after US Fed rate cut

"This is the right time to park some funds in the bank, real estate, and auto sector as a whole from a medium to long term view as markets will, now, price-in lower interest rates in India as well," said Vikas Sethi, managing director, Sethi Finmart. READ MORE

3:00 PM

Stock Market LIVE Updates: CARE Ratings downgrades IIFL Finance's long-term instruments to

The rating agency, in a statement placed on its website, said the assets under management (AUM) of IFL’s gold business shrunk to Rs 14,727 crore as of June 30, 2024, from Rs 23,354 crore as of March 31, 2024, due to the RBI’s restrictions on the gold business. This has led to a moderation in the financial flexibility of the group and affected the profitability of the company and its liability franchise. Gold loan AUM constituted 72 per cent of IIFL’s standalone AUM and 21 per cent of the consolidated AUM as of June 30, 2024. READ MORE

2:45 PM

Stock Market LIVE Updates: Wonderla Holidays in focus

Stock Market LIVE Updates: Wonderla Holidays expands footprint with opening of Bhubaneswar Park. 

Source: BSE

2:43 PM

Stock Market LIVE Updates: Axis Capital to explore legal remedies against Sebi's ban on debt segment

Stock Market LIVE Updates: Axis Capital on Friday said it is exploring legal remedies against markets regulator Sebi's order restraining the firm from taking up new assignments as a merchant banker for the debt segment. READ MORE

 

2:36 PM

Stock Market LIVE Updates: BSNL adds 2.9 mn users after telecom rivals hiked tariffs in July

Stock Market LIVE Updates: After losing subscribers for more than two years, state-owned telecom company BSNL added 2.9 million users in July when its private sector rivals raised tariffs. The company had lost 0.74 million users in June, according to data provided by the telecom regulator. The three private sector telecom operators, Reliance Jio, Bharti Airtel and Vodafone Idea (Vi), raised tariffs in the first week of July. BSNL, which is in losses, did not. READ MORE 

2:28 PM

Stock Market LIVE Updates: Nippon Steel to sell $211 mn in assets to manage debt amid US Steel deal

Stock Market LIVE Updates: Nippon Steel plans to sell at least 30 billion yen ($211 million) in assets in this fiscal year to manage its debt, the Nikkei quoted its vice chairman as saying on Friday, as it waits to know the fate of its $14.9 billion bid for US Steel. READ MORE

 

2:23 PM

Stock Market LIVE Updates: TCS expands operations in Poland, aims to double workforce in a year

Stock Market LIVE Updates: Tata Consultancy Services (TCS) on Friday said it has expanded operations in Poland with the opening of a new delivery centre in Warsaw, and expects to double its workforce in the region to over 1,200 within a year. The new delivery centre showcases TCS' capabilities across industries and technologies, according to a regulatory filing. READ MORE

2:19 PM

Stock Market LIVE Updates: Edtech startup Physics Wallah's valuation crosses $2.8 bn with new funding

Stock Market LIVE Updates: Physics Wallah (PW) has raised $210 million at the close of a Series B funding round, said the education technology company on Friday, declaring that FY25 will mark "largest absolute profitability" for the group. The investment brings the company’s post-money valuation to $2.8 billion, a more than twofold increase over its last valuation of $1.1 billion. The funding round was led by Hornbill Capital, participation from Lightspeed Venture Partners and existing investors GSV and WestBridge. READ MORE

2:13 PM

Stock Market LIVE Updates: L&T acquires 12.25% stake worth Rs 12.5 crore in quality management firm

Stock Market LIVE Updates: Engineering and construction major Larsen & Toubro (L&T) has acquired 12.5 million equity shares, representing a 12.25 per cent stake, in the Indian Foundation for Quality Management (IFQM), the company said in an exchange filing on Friday. The acquisition, worth Rs 12.5 crore, aligns with L&T’s broader mission to elevate the global perception of ‘Brand India’ by enhancing product and service quality across various sectors. READ MORE

 

2:09 PM

Stock Market LIVE Updates: These 4 stocks turn bearish even as Sensex, Nifty scale new highs

Stock Market LIVE Updates: The BSE Sensex and the NSE Nifty 50 index were seen trading on a buoyant note at record high levels in trades on Friday, amid the global market cheer owing to a bumper US Fed rate cut. The US Federal Reserve on Wednesday night announced a 50 basis points cut in interest rates - a first since March 2020. READ MORE

 

2:04 PM

Stock Market LIVE Updates: 2 PM market update - Markets pull back mildly from record levels

Stock Market LIVE Updates: After holding steady at record levels for most of the trading session on Friday, Indian equity benchmark indices were seen pulling back a little, during the last hours of the day's trading session. 

 

At 2 PM, the BSE Sensex was up by 652 points, or 0.7 per cent, at 83,837, while the Nifty 50 was at 25,635, up 219 points, or 0.87 per cent.

1:53 PM

Stock Market LIVE Updates: HCL Technologies' ESG score improves to 79.9 for FY24, from 79.6 in FY23

Stock Market LIVE Updates: HCL Technologies today informed that its ESG rating--issued by SES ESG Research, a Sebi-registered ESG ratings provider--has improved to 79.9 for FY24, from 79.6 in FY23.

The company, in an exchange filing, said, "SES ESG Research Private Limited, a SEBI registered ESG Rating Provider has on September 19, 2024, issued an ESG Report on our Company. This report has been issued by them voluntarily. In terms of this report, the overall ESG Score of the Company has been increased from 79.6 in FY2022-23 to 79.9 for FY 2023-24."

1:44 PM

Stock Market LIVE Updates: Thomas Cook issues corporate guarantee of Rs 30 cr for subsidiary SOTC Travel

Stock Market LIVE Updates: Thomas Cook today informed that it has issued a corporate guuarantee worth Rs 30 crore, in favour of Kotak Mahindra Bank, for its wholly-owned sbsidiary SOTC Travel.

The company, in an exchange filing, said, "We hereby inform that the Sub-Committee of the Board Directors of the Company has on even date approved issuance of Corporate Guarantee of INR 300 million in favour of Kotak Bank Limited towards Overdraft & Bank Guarantee/SBLC facilities sanctioned to SOTC Travel Limited (wholly owned subsidiary of the Company)."

1:32 PM

Stock Market LIVE Updates: Lemon Tree Hotels launches new property in Srinagar, J&K

Stock Market LIVE Updates: Lemon Tree Hotels today announced that it has signed a License Agreement with its wholly-owned subsidiary Carnation Hotels to launch a new 40-keys property called 'Keys Select by Lemon Tree Hotels' in Srinagar, Jammu and Kashmir.

The company, in an exchange filing, said, "We would like to inform you that the Company has signed a License Agreement viz Keys Select by Lemon Tree Hotels, Srinagar, Jammu and Kashmir. The property shall be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited and is expected to open in FY 2026." 

The company added that the hotel will feature 40 well-appointed rooms, two restaurants, a meeting room, and a fitness center.

 

1:16 PM

Stock Market LIVE Updates: Torrent Pharma gets one observation after US FDA inspection of MP facility

Stock Market LIVE Updates: Torrent Pharma today informed that it has received one observation from the US FDA after the US drug regulator conducted a Good Manufacturing Practices (GMP) inspection of its formulations manufacturing facility located at Pithampur, Madhya Pradesh between September 16 and 20.

The company, in an exchance filing, said, "At the end of the Inspection, the Agency issued a Form FDA 483 with one observation which is procedural in nature. We will respond to the USFDA within the prescribed time-frame and will work in close collaboration with the Agency to address the observation at the earliest possible time."

1:09 PM

Stock Market LIVE Updates: Patel Engineering bags Rs 240-cr hydropower project from NHPC

Stock Market LIVE Updates: Patel Engineering today informed that NHPC has declared the company as the lowest bidder for a Rs 240.02 crore contract, involving "modification of diversion tunnel into tunnel spillway arrangement – Civil and Hydro Mechanical works for Package 6 - TEESTA-VPOWERSTATION, SIKKIM.

The company, in an exchange filing, said, "The project is to be completed in a period of 18 months. The said project is located in the South District of Sikkim State."

The company added that the scope of work involves construction of civil works of the tunnel spillway including construction adit, gate operation chamber and gate shaft, precast bridge, excess road, energy dissipation arrangement of tunnel spillway, dyke and tunnel for environment flow and it’s Gate Operation Chamber (GOC). 

1:03 PM

Stock Market LIVE Updates: 1 PM market update - Markets extend gains from record levels

Stock Market LIVE Updates: Indian equity benchmark indices extended their gains from the record levels they were trading at after hitting fresh record highs in early trades on Friday. 

At 1 PM, the BSE Sensex was up by 1,248 points, or 1.50 per cent, at 84,433, while the Nifty 50 was at 25,770, up 354 points, or 1.39 per cent.

12:49 PM

Stock Market LIVE Updates: Record Galore! Here's why Sensex rallied 1,100 points today; details here

Stock Market LIVE Updates: Benchmark indices – Sensex and Nifty 50 –witnessed a strong rally on Friday, September 20, 2024 on the back of a 50 bps rate cut by the Federal Reserve on September 18. 

The Sensex rallied 1.27 per cent or 1,063.89 points, hitting a fresh record high of 84,248.69 levels. The Nifty 50 also saw a robust gain of 1.21 per cent, or 309.8 points, hitting a new all-time high of 25,726.65. READ MORE

 

12:41 PM

Stock Market LIVE Updates: TCS opens new global delivery centre in Poland; To double workforce above 1,200

Stock Market LIVE Updates: Tata Consultancy Services (TCS) today announced that it has launched a new delivery centre in Warsaw, Poland, expanding its operations in the country. 

With the new delivery centre, TCS expects to double its workforce to 1200-plus in a year to support its further growth in the region, the company said in an exchange filing. 

 

12:35 PM

Stock Market LIVE Updates: ITD Cementation surges 18% amid Adani Group's promoter's stake buy buzz

Stock Market LIVE Updates: Shares of ITD Cementation surged 18 per cent to Rs 558.15 on the BSE in Friday's intraday trade, aided by heavy volumes, on report that Adani Group is eyeing promoter stake in the company. The stock of the civil construction company had hit a 52-week high of Rs 589.65 on July 2.

At 10:48 AM, ITD Cementation was trading 17 per cent higher at Rs 550.05 as compared to 1.01 per cent rise in the BSE Sensex. Average trading volumes on the counter jumped seven-fold with a combined 8.55 million equity shares, representing nearly 5 per cent of total equity of the company, changing hands on the NSE and BSE. READ MORE

12:24 PM

Stock Market LIVE Updates: Cochin Shipyard, Hudco, Rites, Ircon and others drive Nifty Smallcap 100 up 220 pts

Stock Market LIVE Updates: A rally in stocks such as Cochin Shipyard (10 per cent), Hudco (8.22 per cent), IIFL (7.70 per cent), Rites (6.78 per cent), and Ircon (5.63 per cent), led Nifty Smallcap 100 higher by 220 points, or 1.15 per cent.