Market Close Highlights: IT, Pharma drive Sensex up 360pts, Nifty at 25,000; Broader markets gain

Market Close Highlights: Indian benchmark equity indices closed higher on Tuesday, tracking overnight gains in the US markets.

3:54 PM

Stock Market Tech View: 'Sentiment expected to stay weak in near term'

- Nifty remained volatile throughout the day, unable to sustain levels above 25,100. The RSI remained in a bearish crossover on the daily timeframe, indicating continued weakness. 

 

- Sentiment is expected to stay weak in the near term unless Nifty manages a close above 25,100.

 

-On the lower side, support is seen at 24900; if breached, the index may decline further towards 24750.

 

Views by: Rupak De, Senior Technical Analyst at LKP Securities

3:52 PM

Stock Market Comment :: 'Strong monsoon, and uptick in demand during festival season to drive'

- The domestic market showcased a gradual rebound driven by the shift in focus towards upcoming US inflation and potential FED policy stance. 

 

- The US political risk and recession fears may set near-term cautious sentiments in the global market. 

 

- On the domestic front, a strong monsoon, and an expectation of an uptick in demand during festival season will drive investor sentiment.

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

 

3:49 PM

Currency check: Rupee ends 2 paise lower vs US dollar on Tuesday

The Indian Rupee ended 2 paise lower at 83.976 against the US dollar on Tuesday.

 

3:46 PM

Stock Market LIVE Updates: IT, Media, and Pharma lead gains among sectoral indices

Stock Market LIVE Updates:  IT, Media, and Pharma led the gains among the sectoral indices, while Financial Services, Pharma, and PSU stocks ended lower.

 

3:41 PM

Stock Market LIVE Updates: Smallcap index outperforms the broader indices

Stock Market LIVE Updates:  BSE Smallcap index outperformed the other baorder indiecs on Tuesday. 

3:36 PM

Stock Market LIVE Updates: Sensex Heatmap check

NTPC, HCL Tech, and Bharti Airtel were among the top gainers on the BSE Sensex, while Bajaj Finserv, Bajaj Finance, and Hindustan Unilever were among the top laggards.

 

3:34 PM

Stock Market LIVE Updates: Nifty50 settles 105 points higher

Stock Market LIVE Updates: The benchmark NSE Nifty50 ended 104.70 points higher at 25,041.10. 

3:33 PM

Stock Market LIVE Updates: Sensex adds 360 points

Stock Market LIVE Updates: The benchmark BSE Sensex added 361.75 points to settle at 81,921.29 on Tuesday. 

3:13 PM

Stock Market LIVE updates: Century Textiles shares climb 7% on acquiring 10 acre land parcel in Mumbai

Stock Market LIVE updates: Century Textiles share price gained up to 7.36 per cent at Rs 2,528.55 per share on the BSE in Tuesday’s intraday deals. Century Textiles stock price today surged after the company acquired around 10 acres of land parcel in Worli, Mumbai.

The company plans to develop the land, through its real estate subsidiary, Birla Estates. READ MORE

 

3:04 PM

Stock Market LIVE updates: 3 PM market update

Stock Market LIVE updates: Indian benchmark indices BSE Sensex and Nifty50 were trading higher on Tuesday.

At 3:00 PM, the BSE Sensex was at 81,967, up 407 points or 0.50 per cent, while the Nifty 50 was at 25,059, up 123 points, or 0.5 per cent.

2:47 PM

Stock Market LIVE updates: Indian IT services industry to deliver 4-6% revenue growth in FY25: ICRA

Stock Market LIVE updates: The Indian IT services industry is likely to register a second consecutive year of muted revenue growth, estimated at 4-6 per cent in FY2025, but the operating profit margin is expected to be healthy, according to ICRA.

The persisting challenges and tepid topline growth notwithstanding, ICRA has forecast the industry's operating profit margin (OPM) at a healthy about 22 per cent in FY2025, with attrition levels having declined considerably and seen stabilising over the near term. READ MORE

2:32 PM

Stock Market LIVE updates: Sebi chairperson's husband received money from M&M, alleges Congress

Stock Market LIVE updates: The Congress on Tuesday made fresh allegations against Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (Sebi), and alleged that her husband Dhaval Buch received Rs 4.78 crore between 2019 and 2021 from Mahindra and Mahindra (M&M).

Sebi issued nearly four orders in matters related to M&M in the period, said Congress leader Pawan Khera. READ MORE

2:23 PM

Stock Market LIVE updates: Upcoming IPO alert! Influx Healthtech files DRHP with NSE Emerge; details

Stock Market LIVE updates: Leading contract development and manufacturing company, Influx Healthtech, has filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge.

The Mumbai-based company specialises in a diverse range of products across several segments, including dietary/nutraceutical supplements, cosmetics, ayurvedic/herbal, veterinary feed supplements, and homecare segments. READ MORE

 

2:15 PM

Stock Market LIVE updates: Dixon Technologies share up after unit inks MoU with HP India; details here

Stock Market LIVE updates: Dixon Technologies stock gains: Electronics manufacturing company Dixon Technologies shares rose as much as 2.3 per cent in the morning deals on Tuesday, September 10.

The Dixon Technologies scrip logged an intraday high of Rs 12,675.1 per share on BSE. READ MORE

 

2:01 PM

Stock Market LIVE Updates: Market check; Sensex soars over 600 pts

The benchmark BSE Sensex jumped 618 points or 0.76 per cent at 82,178 levels. The rally in the index was fuelled by Infosys, Bharti Airtel and TCS zooming up to 3 per cent. 

1:45 PM

Pharma stocks soar 6% as investors respond to double dose of Good News!

Shares of pharmaceutical companies as well as contract drug manufacturing companies (CDMOs) experienced significant gains in intraday trade on Tuesday, after a double dose of good news on the domestic as well US market front. On Monday the 54th GST Council of India, in its meeting, reduced the GST rate on cancer drugs namely, Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 12 per cent to 5 per cent. 

 

Earlier, the government had removed the basic 10 per cent customs duty on these three cancer drugs in the Union Budget of 2024. Read more

1:20 PM

Stock Market LIVE Updates: Market check; Sensex jumps over 500 pts

The benchmark BSE Sensex jumped 521 points or 0.64 per cent at 82,081 levels. The rally in the index was fuelled by Infosys, Bharti Airtel and TCS zooming up to 2 per cent each. 

 

1:00 PM

Stock Market LIVE Updates: In demand! Tolins Tyres IPO oversubscribed 3x on Day 2; All details here

Tolins Tyres' initial public offer (IPO) got a thumbs up from D Street and got oversubscribed on day 2 of the issue opening. As of 11:36 AM, the IPO had received bids for 2,18,55,108 shares, out of the 74,88,372 shares on offer.

So far, Tolins Tyres' IPO has been subscribed 2.92 times on the NSE, with Retail Individual Investors (RIIs) showing the most interest, among others. The section reserved for retail section was subscribed 5.07 times, while the section reserved for Non Institutional Investors (NII) was subscribed 1.63 times, and Qualified Institutional Buyers(QIBs) bid 0.12 times. Read more

12:44 PM

Stock Market LIVE updates: ITI soars 5% on order win worth Rs 300 cr

ITI Limited, telecom manufacturing company has received an order worth around Rs 300 crores from Bihar Renewable Energy Development Authority

(BREDA) for supply and installation of 1,00,000 numbers of Solar Street Light Systems to Bihar State Government.

Source: BSE

12:21 PM

Stock Market LIVE updates: Action Construction Equipment shares gain 3% on order from defence ministry

Action Construction Equipment share price gained up to 3.44 per cent at Rs 1278.15 per share on the BSE in Tuesday’s intraday deals. The construction vehicles share price zoomed after the company got an order from the Ministry of Defence to supply forklifts. Read more

12:10 PM

Stock Market LIVE updates: Akzo Nobel India rallies 5%; hits record high on healthy growth outlook

Shares of Akzo Nobel India, a paints and coatings company that makes Dulux Paints, rallied 5 per cent on the BSE in Tuesday’s intra-day trade to hit a fresh record high of Rs 3,960 on healthy growth outlook. In comparison, the BSE Sensex was up 0.16 per cent at 81,697 at 11:05 AM.

The stock is quoting higher for the sixth straight trading day, having surged 16 per cent during the period. Read more

12:04 PM

Stock Market LIVE updates: 12 PM market update

Stock Market LIVE updates: Indian benchmark indices BSE Sensex and Nifty50 were trading higher on Tuesday on the back of a strong overnight showing on Wall Street.

 

At 12:00 PM, the BSE Sensex was at 81,905, up 345 points or 0.42 per cent, while the Nifty 50 was at 25,029, up 92 points, or 0.37 per cent.

 

11:52 AM

Stock Market LIVE Updates: SEPC surges 3% after order win

The company has been awarded a work order worth Rs 182.56 crore from Irrigation Division, Govt. Of Bihar. 

Source: BSE

11:29 AM

Stock Market LIVE updates: Bikaji, Gopal Snacks stocks get tastier after GST council cuts rate; up 8%

Shares of packaged snack companies, Gopal Snacks and Bikaji Foods International gained up to 8.5 per cent in the morning deals on Tuesday, September 10, 2024. Individually, Gopal Snacks shares soared 8.5 per cent, while Bikaji Foods advanced 7.7 per cent on an intraday level. 

The counters saw buying after the Goods and Services Tax (GST) Council slashed GST on extruded and savoury items. Read more

11:15 AM

Stock Market LIVE updates: Zaggle Prepaid surges 6% on inking deal with HDFC Ergo General Insurance Co

Zaggle Prepaid Ocean Services shares rise:Shares of Zaggle Prepaid Ocean Services (Zaggle) soared up to 6.21 per cent to hit an intraday high of Rs 372.70 per share on Tuesday, September 10, 2024. 

The Zaggle Prepaid Ocean Services share price rose after the company announced that it has inked a pact with HDFC Ergo General Insurance Company. Read more

11:02 AM

Stock Market LIVE updates: 11 AM market update

Stock Market LIVE updates: Indian benchmark indices BSE Sensex and Nifty50 were trading higher on Tuesday on the back of a strong overnight showing on Wall Street.

At 11:00 AM, the BSE Sensex was at 81,692, up 133 points or 0.16 per cent, while the Nifty 50 was at 24,969, up 32 points, or 0.13 per cent.

10:50 AM

Stock Market LIVE updates: Ahluwalia Contracts shares rally 7% after bagging orders worth Rs 1,307 cr

Stock Market LIVE updates: Shares of Ahluwalia Contracts shot up by 6.78 per cent, recording an intraday high of Rs 1,280 per share on the BSE on Tuesday. Ahluwalia Contracts share price today soared after the company bagged two work orders from the real estate firm Signature Global.

 

Ahluwalia Contracts stock price has appreciated by 61.08 per cent in the last six months, while rallying 75.58 per cent in the last one year, BSE data shows. READ MORE

10:38 AM

Stock Market LIVE updates: Nomura cuts target prices for Axis Bank, SBI and BoB ahead of Fed meeting

Stock Market LIVE updates: Tokyo-headquartered international brokerage firm Nomura has reduced its target prices for some of the private and public lenders ahead of the US Federal Reserve's policy meeting scheduled for next week.  

The brokerage firm has reduced the target price for Axis Bank, State Bank of India (SBI) and Bank of Baroda (BoB) to Rs 1,370, Rs 980, and Rs 280 per share, respectively. Despite slashing their target prices, Nomura has maintained its 'Buy' rating for these banks. READ MORE

 

10:28 AM

Stock Market LIVE updates: Adani seeks Md Yunus' assistance in getting $800 mn in payments cleared

Stock Market LIVE updates: Adani Group chairman Gautam Adani has approached Muhammad Yunus, the chief advisor to the Bangladesh government, requesting his assistance in expediting the clearance of $800 million in outstanding payments owed by the Bangladesh Power Development Board to Adani Power for electricity supplies, according to a report by The Economic Times. READ MORE

 

10:15 AM

Stock Market LIVE updates: IRB Infrastructure August toll collection zooms 20% YoY; share price gains

Stock Market LIVE updates: Shares of IRB Infrastructure Developers Ltd (IRB) rose as much as 2.79 per cent to hit an intraday high of Rs 63.60 per share on Tuesday, September 10, 2024. 

The uptick in IRB Infrastructure Developers came on the back of strong toll revenue collection for August 2024. READ MORE