Stock Market Highlights, Sept 11: Sensex sheds 398pts; Nifty ends near 24,900; Banking, Auto drag

Stock Market Highlights: 34 out of 50 constituent stocks of Nifty50 ended lower, dragged by Tata Motors, ONGC, Wipro, L&T, and Adani Enterprises with losses of up to 5.73 per cent

3:59 PM

Stock Market Tech View: 'Nifty, Bank Nifty to consolidate over next few sessions'

Nifty50
On the daily charts, we can observe that the Nifty has faced resistance from the zone of 25,100 – 25,150 where the hourly upper Bollinger band and the 61.82% Fibonacci retracement level is placed.

On the downside, support zone is placed at 24,800 – 24,750. The Bollinger bands are contracting suggesting rangebound price action over the next few trading sessions. The range of consolidation is likely to be 24,800 – 25,200.

 

Bank Nifty

Bank Nifty witnessed a volatile weekly expiry and settled around 51,000. The structure suggests rangebound price action as we can observe contraction of Bollinger bands which points towards rangebound price action. Bank Nifty is likely to consolidate in the range 50,800 – 51,500 from short term perspective.

Views by: Jatin Gedia – Technical Research Analyst, Sharekhan by BNP Paribas

3:49 PM

Stock Market Comment: 'Sentiment remains cautious due to slowdown in China, ahead of US inflation'

The domestic market experienced a minor consolidation, in line with Asian peers, due to correction of commodity prices like crude, which has collapsed to $70.

Market sentiment remained cautious due to the slowdown in the Chinese economy. Investors await the release of the US CPI and domestic inflation data. 

It is anticipated that US inflation will have an uptick in monthly data, while domestic inflation is expected to remain stable. Additionally, this muted trend was influenced by the BoJ’s indication of a potential rate hike if inflation remains elevated.

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

3:45 PM

Rupee Closing: Rupee ends unchanged versus US Dollar

>> Rupee ends at 83.97 per US dollar on Wednesday, Sept 11

3:44 PM

Stock Market Closing Bell LIVE Updates: Mid, SmallCap indices slip half a percent each

>> BSE MidCap indec ends 0.52% lower, while the BSE SmallCap dips 0.57% today

3:42 PM

Stock Market Closing Bell LIVE Updates: Only Nifty FMCG index ends in green

>> Nifty FMCG, Pharma indices hit record highs intraday

>> Nifty FMCG hit record high of 65,344.60 during the day

>> Nifty Pharma index hit new high of 23,463.10 during the day

>> Nifty Auto, Media, Metal, PSU Banks, Realty indices fall over 1% each

3:38 PM

Stock Market Closing Bell LIVE Updates: Only 10 of the 30 Sensex stocks end higher

>> Only 10 Sensex stocks ended higher on Wednesday

>> Bajaj Finance, Asian Paints, Sun Pharma, HUL, HCL Tech, Bajaj Finserv, ITC, Axis Bank, Bharti Airtel, and Kotak Bank were the top Sensex gainers today, Sept 11

>> Tata Motors, NTPC, Adani Ports, L&T, SBI, JSW Steel, M&M, IndusInd Bank, and Titan were the top Sensex losers today

3:35 PM

Stock Market Closing Bell LIVE Updates: Nifty ends below 24,950 on Wednesday

>> NSE Nifty50 settled at 24,918.45, down 122.65 points or 0.49%

3:34 PM

Stock Market Closing Bell LIVE Updates: Sensex reverses gains in late noon deals, ends lower

>> BSE SEnsex index ends at 81,523.16 levels on Wednesday, Sept 11, down 398.13 points or 0.49%

3:27 PM

Stock Market LIVE Updates: India VIX rises over 2%

>> Fear gauge, India VIX, was up 2.20 per cent at 13.36 level.

>> It hit an intraday high of 13.77 and a low of 11.33

3:17 PM

Stock Market LIVE Updates: Bharat Electronics receives orders worth Rs 1,155 crore

>> Bharat Electronics Limited has secured an order worth Rs 850 crore. from Cochin Shipyard Limited (CSL) for the supply of indigenous Multi Function Radar in X Band. 

>> Additionally, BEL has secured orders valued at Rs 305 crroe following the last disclosure on August 22, 2024, which include navigational complex system for ships, thermal imagers, communication equipment, fire control system, gun control system, spares, services, etc.

>> With these orders, BEL has now accumulated orders totaling Rs 7,075 crore in the current financial year

3:05 PM

Stock Market LIVE Updates: This smallcap stock has surged 19% in weak market; zoomed 50% in 1 month

Stock Market LIVE Updates: Shares of Gokul Agro Resources surged 19 per cent on the BSE in Wednesday’s intra-day trade to hit a new record high of Rs 317, amid heavy volumes in an otherwise a weak market. In one month, the stock has zoomed 50 per cent and it has skyrocketed 196 per cent in the past six months. In comparison, the BSE Sensex was down 0.39 per cent at 81,611 at 02:24 PM. READ MORE

2:54 PM

Stock Market LIVE Updates: Persistent Systems hits new high on buying SoHo Dragon assets worth $4.7 mn

Stock Market LIVE Updates: Persistent Systems shares rose 1.8 per cent to hit an all-time high of Rs 5,369.25 per share on the BSE after the company signed an asset purchase agreement with SoHo Dragon to acquire some of its assets. READ MORE

 

2:50 PM

Stock Market LIVE Updates: Khadim India shares climb over 7% after partnership with Puma; details here

Stock Market LIVE Updates: Shares of Khadim India zoomed 7.51 per cent at Rs 394.75 per share on the BSE in Wednesday’s intraday deals. This came after the company partnered with Puma to distribute Puma socks and its other products in the country. READ MORE

 

2:44 PM

Stock Market LIVE Updates: Reserve Bank to stick to higher digitally-linked deposit buffer proposal

Stock Market LIVE Updates: India's central bank will stick to its plan to ask lenders to set aside more funds for digitally linked deposits, despite the industry's plea for a lower buffer to avoid a hit to their liquidity, three sources familiar with the matter told Reuters. READ MORE

 

2:40 PM

Stock Market LIVE Updates: Indian importers favour FX options as rupee holds steady, premiums soar

Stock Market LIVE Updates: Indian importers are exploring options strategies to hedge against currency risks amid muted volatility in the rupee, moving away from outright forwards that have become expensive, traders said. READ MORE

 

2:31 PM

Stock Market LIVE Updates: Prism Johnson zooms over 40% in 2 days, hits record high on heavy volumes

Stock Market LIVE Updates: Prism Johnson share price moved to a new all-time high for a second consecutive day, touching a record high of Rs 246.10 on Wednesday. The share price surged 18 per cent on the BSE in today's intraday trade amid heavy volumes. READ MORE

2:23 PM

Stock Market LIVE Updates: BEL receives orders worth Rs 1,155 crore

Stock Market LIVE Updates: Bharat Electronics Limited (BEL) has received orders of Rs 1,155 crore.

Source: BSE

2:18 PM

Stock Market LIVE Updates: CEAT commences commercial production at Tamil Nadu plant; stock up 2%

Stock Market LIVE Updates: Share price of CEAT, an Indian company that manufactures tyres, advanced 2.1 per cent intraday and touched a high of Rs 2904.85 per share today, September 11, 2024. CEAT share price rose after the company announced the commencement of commercial production of truck and bus radial (TBR) tyres at Kancheepuram, Tamil Nadu plant. READ MORE

 

2:10 PM

Stock Market LIVE Updates: Max House phase 2 achieves 100% occupancy in less than a year of its completion

Stock Market LIVE Updates: Max Estates Limited, a real estate developer in Delhi NCR, has announced that Max House Phase 2, its premier commercial offering located in New Delhi, has achieved a milestone of lease commitment for 100 per cent of its space in less than a year of receiving its Occupancy Certificate. 

Source: BSE

2:03 PM

Stock Market LIVE updates: BCPL Railway Infrastructure at 5% upper circuit on Rs 71-cr order; details

Stock Market LIVE updates: Shares of BCPL Railway Infrastructure were locked in the 5 per cent upper circuit at Rs 99.05 per share on Wednesday, September 11, 2024. 
 

The uptick in BCPL Railway Infrastructure shares came after the company announced that it has received an order worth Rs 71 crore. READ MORE

 

1:59 PM

Stock Market LIVE updates: This T-group media stock is locked in upper circuit for 111th straight day

Stock Market LIVE updates: Shares of Sri Adhikari Brothers Television Network (SABTNL) were locked in the upper circuit for the 111th straight day, up 2 per cent at Rs 672.20, hitting a fresh 52-week high on the BSE in Wednesday's intra-day trade. READ MORE

 

1:41 PM

Stock Market LIVE updates: Latteys Industries gets Rs 3-cr order to supply solar submersible pumps to MSEDCL

Stock Market LIVE updates:  Latteys Industries today announced that it has received an order worth Rs 3 crore (excluding GST) from Maharashtra State Electricity Distribution Co (MSEDCL).

 

The company, in an exchange filing, said, "We would like to inform you that our company has received an order supply of Solar Submersible Pumps to the MSEDCL Department through our OEM worth of Rs 3 crore plus GST".

1:36 PM

Stock Market LIVE updates: JSW Infra extends rally, up 7% on capex Plans; BNP Paribas raises target

Stock Market LIVE updates: Shares of JSW Infrastructure zoomed 6.92 per cent at Rs 338 per share on the BSE in Wednesday’s intraday deals.

JSW Infrastructure share price has gained 10.45 per cent in the last three sessions after the company on Monday announced its capex plans involving an investment of Rs 2,359 crore for capacity expansion. READ MORE

1:21 PM

Stock Market LIVE updates: VST Industries allots 154.4 million bonus shares in 10:1 ratio

Stock Market LIVE updates: VST Industries today informed that it has allotted 15,44,19,200 equity shares of Rs 10 each as fully paid-up bonus equity shares in the ratio of 10:1.

The company, in an exchange filing, said, "We hereby inform that the Bonus Issue Committee of the Board at its meeting held on Wednesday, September 11, 2024, has allotted 15,44,19,200 Equity Shares of Rs 10 each as fully paid-up Bonus Equity shares".

The company added that the bonus equity shares were allotted in the proportion of 10:1, that is 10 new fully paid-up equity shares of Rs 10 each, for every one existing fully paid-up equity share of Rs 10 each held by shareholders on the record date (September 6) fixed for the purpose.

1:06 PM

Stock Market LIVE updates: Sensex flat with a positive bias

The benchmark 30-bluechip stock index BSE Sensex was up 66 points, or 0.08 per cent, at 81,988. Meanwhile, NSE's Nifty50 added 21 points or 0.09 per cent at 25,062 level. 

 

1:03 PM

PN Gadgil Jewellers IPO draws strong demand; GMP jumps 54% on Day 2

As of 11:27 AM on September 11, 2024, the IPO has received the highest bids from non-institutional investors (NIIs) at 6.28 times the offered amount, followed by Retail Individual Investors (RIIs) at 4.06 times, and Qualified Institutional Buyers (QIBs) at 0.03 times. READ MORE

12:48 PM

Stock Market LIVE Updates: Ashish Kacholia stock hits new high

At 11:46 AM, Zaggle share price was trading 12 per cent higher at Rs 411.40 as compared to 0.1 per cent rise in the BSE Sensex index. Average trading volume on the counter jumped over five-fold today with a combined 7.8 million equity shares, representing 6.4 per cent of total equity of Zaggle, changing hands on the NSE and BSE. READ MORE

12:36 PM

Stock Market LIVE updates: IndiGo, CEAT: Which stocks are on analysts' radar as oil falls below $70?

Oil price below $70/barrel:As Brent crude oil price trades below the psychological level of $70 per barrel, analysts are backing certain oil-linked stocks to play the momentum.

They prefer aviation and tyre stocks among the lot, but remain cautious on paints and oil marketing companies. Read more

12:14 PM

Stock Market LIVE Updates: Sensex jumps nearly 150 pts

The benchmark 30-bluechip stock index BSE Sensex was up 148 points, or 0.18 per cent, at 82,069

11:59 AM

Oil India, ONGC dip up to 6% as crude oil prices fall on demand concerns

Shares of state-owned upstream oil companies Oil and Natural Gas Corporation (ONGC) and Oil India dipped up to 6 per cent on the BSE in Wednesday’s intra-day on profit booking as crude oil prices were trading near three years low on concerns over a weak demand outlook. Read more