Stock Market Highlights, Sept 16: Sensex, Nifty end flat; Bajaj Housing Finance soars 136% on debut

Stock Market Highlights: 26 constituent stocks of Nifty50 ended higher with the gains led by NTPC, Hindalco, JSW Steel, Shriram Finance, and Larsen & Toubro on Monday

3:52 PM

Stock Market Tech Outlook: 'Nifty support levels are intact between 25,150-25,200'

The Nifty index remained range-bound throughout the session as traders opted for caution ahead of a significant event. The technical chart shows no change in formation compared to the previous day. The trend continues to be strong, though with limited upward potential in the short term. Key support levels are still intact between 25,150-25,200, while resistance is positioned around 25,460-25,500. A decisive breakout from the current range might initiate a directional move.

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

3:51 PM

Stock Market Comment: What will keep markets afloat amid US Fed rate cut?

The domestic market traded in a narrow range with a positive bias as the participants are keenly awaiting the Fed's decision this week. The weakness in the US job market and benign inflation are pointing at a slew of rate cuts on the table. The inflow of foreign money and an expectation of stability in domestic growth may keep sentiment optimistic.

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

3:49 PM

Bajaj Housing Finance Listing: Stocks soars 137% on debut day, hits 10% upper circuit

>> Bajaj Housing Finance share price freezes at 10% upper circuit on listing day

>> Shares listed at 114% premium over issue price of Rs 70

3:46 PM

Rupee Closing: Rupee ends 1 paise higher vs US dollar

>> Indian Rupee ends at 83.88 per US dollar on Monday, Sept 16

3:44 PM

Stock Market Closing Bell LIVE Updates: SmallCap index outperforms MidCap index

>> BSE SmallCap index closes 0.28% higher

>> BSE MiidCap closes flat

3:42 PM

Stock Market Closing Bell LIVE Updates: Investors book profit in defensive sectors

>>IT, FMCG, Pharma indices end in the red today

>> Financials, Metals, Metals rally on Monday

3:40 PM

Stock Market Closing Bell LIVE updates: 16 of 30 Sensex stocks rally on Monday

>> 16 stocks end higher. NTPC, JSW Steel, L&T, ICICI Bank, Axis Bank, Nestle India, and M&M end as top Sensex gainers

>> 14 stocks settle lower. Bajaj twins, HUL, Adani Ports, Asian Paints, Titan, and Ultratech Cement close as top Sensex losers today

3:35 PM

Stock Market Closing Bell LIVE Updates: Sensex adds less than 100 pts today

>> BSE Sensex closes at 82,988.78, up 97.84 points or 0.12% tpday

3:34 PM

Stock Market Closing Bell LIVE Updates: Nifty ends near 25,400 in muted trade

>> NSE Nifty50 settles at 25,383.75, up 27.25 points or 0.11% on Monday, Sept 16

>> The index hit a high of 25,445.70 and a low of 25,336.20 during the day
 

3:11 PM

Adani Group warns against fake press releases linked to its Kenya projects

"We categorically state that neither the Adani Group nor any of its companies or subsidiaries have issued any press releases related to Kenya," the group said, urging the public to disregard such press releases. The conglomerate added that it would take legal action against anyone involved in spreading false narratives and advised using only press releases issued on its official website. READ MORE

3:01 PM

Stock Market LIVE Updates: Strategies to trade Bajaj Finance, Bajaj Finserv post Bajaj Housing debut

Bajaj Housing Finance stock debuted at Rs 150 - a solid 114 per cent premium when compared to the issue price of Rs 70 per share. The stock went on the extend the gains and was locked at set upper limit at Rs 164.99 on the BSE with trades of around 60.56 million shares, and pending buy order for nearly 4.2 million shares  READ MORE

2:52 PM

Stock Market LIVE Updates: This stock hit 14th straight upper circuit today; has soared 102% in 3 wks

Stock Market LIVE Updates: Shares of Eraaya Lifespaces were locked in their upper circuit for the 14th straight trading day, up 5 per cent at Rs 1,620.20, on the BSE on Monday. In the past three weeks, the BSE listed stock has zoomed 102 per cent from a level of Rs 801.05 seen on August 26. Currently, Eraaya Lifespaces is trading under 'XT' group on the BSE. The stock is not listed on the National Stock Exchange (NSE). READ MORE

2:44 PM

Reliance Power bags 500 MW battery energy storage contract through auction

Reliance Power on Monday announced that it has secured a battery storage contract of 500 MW through the e-reverse auction (eRA) conducted by the Solar Energy Corporation of India (SECI). The auction, held on September 11, 2024, is part of SECI's initiative to enhance energy storage capabilities across the country. READ MORE

2:38 PM

Stock Market LIVE Updates: SOM Distilleries launches 'Woodpecker' beer in Karnataka; stock soars 7%

Stock Market LIVE Updates: SOM Distilleries & Breweries Ltd shares extended their rally for a second trading session on Monday, advancing as much as 7 per cent to register an intraday high of Rs 128.1 per share on the BSE today. In two days, the stock of the liquor maker has advanced 8.3 per cent on the exchange. READ MORE

 

2:22 PM

Stock Market LIVE Updates: 'Rupee appreciated today amid positive domestic markets & weakness in US Dollar'

USDINR CMP: 83.89

 

-- Indian Rupee appreciated on Monday amid positive domestic markets and weakness in the American currency (US Dollar). FII inflows also favoured the Rupee. However, firm crude oil prices capped sharp gains.

 

-- We expect Indian Rupee to trade with a slight positive bias on continued weakness in the US Dollar ahead of the FOMC meeting this week. 

 

-- There are broad expectations of a 25 bps rate cut by the Fed following a 25 bps rate cut by ECB last week. 

 

-- Fresh foreign inflows and a positive tone in equity markets may further support the domestic currency. 

 

-- However, a recovery in crude oil prices may cap sharp upside. We expect USDINR to trade in the range of 83.70-84.10

 

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

 

2:20 PM

Stock Market LIVE Updates: JSW MG to launch 4 luxury cars in 2 years, to be sold through new channel

Stock Market LIVE Updates: JSW MG Motor on Monday said it is planning to launch four luxury cars in the next two years, which will be sold through a new showroom line called 'MG Select.' The first luxury car will be launched in the first quarter of 2025, and the company plans to open 12 MG Select showrooms in the next six months, Gaurav Gupta, chief growth officer, JSW MG Motor India, told Business Standard. READ MORE

2:15 PM

Stock Market LIVE Updates: Hinduja group firm to raise Rs 3,000 crore as debentures to fund RCap buy

Stock Market LIVE Updates: Hinduja group firm Cyqure India is raising Rs 3,000 crore as debentures to partly fund the group’s acquisition of bankrupt financial services firm Reliance Capital. The zero-coupon debenture issue will open and close on Monday and attract a yield rate of 14.5 per cent, according to the prospectus filed by the company. READ MORE

2:00 PM

Stock Market LIVE Updates: Phoenix Mills fixes Sept 21 as record date for 1:1 bonus issue; stock up 4%

Stock Market LIVE Updates: Shares of The Phoenix Mills (Phoenix Mills) rose up to 4.42 per cent to an intraday high of Rs 3,458.60 per share on Monday, September 16, 2024. This increase in the company's share price followed the shareholders' approval for a Bonus Equity Share issuance in the ratio of 1:1. READ MORE

1:48 PM

Stock Market LIVE Updates: Sebi withdraws statement blaming 'external elements' for employee protests

Stock Market LIVE Updates: The Securities and Exchange Board of India (Sebi) on Monday retracted its earlier statement blaming "external elements" for recent employee protests against its “work culture” and calls for the resignation of the regulatory body’s chief, Madhabi Puri Buch. READ MORE

 

1:33 PM

Stock Market LIVE Updates: Arkade Developers subscribed 2.93x so far on day 1

Stock Market LIVE Updates: Arkade Developers subscribed 2.93x so far on day 1

1:26 PM

Stock Market LIVE Updates: Dixon rallies 6% as unit signs MOU with Asus for manufacturing notebooks

Stock Market LIVE Updates: Shares of Dixon Technologies (India) surged 6 per cent on the BSE in Monday’s intra-day trade to hit a new high of Rs 13,848.10, after Padget Electronics (Padget) signed a memorandum of understanding with Asus India (Asus) to manufacture information technology products such as notebooks for the company. READ MORE

 

1:14 PM

Stock Market LIVE Updates: Arkade Developers IPO GMP zooms 62% on opening day; should you subscribe?

Stock Market LIVE Updates: The unlisted shares of Arkade Developers are commanding a strong premium in the grey market as their initial public offering (IPO) opens for subscription today.

According to several sources tracking grey market activities, shares of Arkade Developers were trading at a premium of Rs 80, which translates to a GMP of 62.5 per cent  against the upper end of the IPO price of Rs 128, underscoring the company's strong market appeal. READ MORE

 

1:01 PM

Stock Market LIVE Updates: Now, SBI MF launches Nifty 500 Index Fund: should you invest?

SBI Mutual Fund on Monday launched SBI Nifty 500 Index Fund, an open-ended scheme replicating/ tracking Nifty 500 Index, as part of its passive offering. The New Fund Offer (NFO) period for the scheme is September 17 – 24, 2024.

The NFO is an opportunity to invest in a single index, Nifty 500 index, which includes the top 500 stocks by market capitalization covering the large-cap, mid-cap and small-cap segments, the company said in a statement.  Read more
 

12:46 PM

Stock Market LIVE Updates: MCX Gold eyes new high; Silver can zoom to Rs 1,00,000

Gold and Silver prices have picked up momentum in recent trading sessions and are seen quoting at record high levels in the international market on hopes of an imminent interest rate cut by the US Federal Reserve this week.

"Gold continues to trade firm with International spot price moving close to $2600 per ounce, supported by a weaker US dollar and falling bond yields, amid rising expectation of a bigger rate cut by the US Federal Reserve at its policy meeting on Wednesday, said Pranav Mer, Vice President, EBG - Commodity & Currency Research at JM Financial Services Ltd. Read more

12:36 PM

Stock Market LIVE Updates: HG Infra Engg stock surges 5% after subsidiary acquires new solar power cos

Shares of civil construction firm HG Infra Engineering rose as much as 5.12 per cent on BSE at Rs 1644.15 per share on Monday’s intraday trade. This came after the company’s subsidiary HG Green Energy acquired 49 per cent of the total paid-up share capital of UVSE Project group companies in the form of equity Shares on September 13, 2024.  Read more

12:29 PM

Stock Market LIVE Updates: M&M unveils LCV Veero with a starting price of Rs 7.99 lakh

"Mahindra & Mahindra announced the launch of the Mahindra Veero, starting at Rs 7.99 Lakh. Designed to redefine the LCV <3.5 t segment, the Veero offers unparalleled savings with best-in-class mileage, exceptional performance powered by robust multiple engine options, industry-leading safety features, enhanced occupant protection, and a premium cabin experience," the company said in an exchange filing. 

12:05 PM

Stock Market LIVE Updates: LT Foods, KRBL surge up to 10% after government removes MEP on basmati rice

Shares of LT Foods, the company that owns and operates Indian basmati rice brand Daawat, and KRBL, the owner of the flagship India Gate basmati rice brand, rallied by up to 10 per cent on the BSE in Monday’s intra-day trade after the central government lifted the Minimum Export Price (MEP) on basmati rice, on Friday.

The MEP of basmati rice was first imposed last year at $1,200 per tonne, before it was lowered to $950 per tonne. Read more

11:45 AM

Stock Market LIVE Updates: Banks, FIs to invest Rs 32.5 trillion in renewable energy by 2030: Centre

Leading banks and various financial institutions have committed close to $386 billion (Rs 32.45 trillion) investment in development of renewable energy projects by 2030, Union minister of new and renewable energy (MNRE) Pralhad Joshi said on Monday.

He was speaking at the inaugural ceremony of 4th RE-Invest Summit hosted by MNRE and CII. Read more

11:34 AM

Stock Market LIVE Updates: Apollo Micro Systems gains 4% on securing Rs 77 crore order; details

Apollo Micro Systems share soars:Shares of aerospace and defence company Apollo Micro Systems soared as much as 3.77 per cent to hit an intraday high of Rs 111.40 per share on Monday, September 16, 2024.

The uptick in Apollo Micro Systems share price came on the back of multiple order wins worth Rs 77 crore. Read more

11:18 AM

Stock Market LIVE Updates: Nomura gives 'Buy' to Lupin remains 'Neutral' on others

The Indian pharmaceutical giants are taking a halt in filing new drug applications, with new filings lowest in the past 19 years, says a latest report by Japanese brokerage firm, Nomura. 

However, this is not concerning the report says, as the Indian pharmaceutical majors are going for quality over quantity. While the number of ANDA filings in Oct’23-Jun’24 declined to 521 versus 567 in the previous year. Filings classified as complex contributed 20 per cent and 16 per cent respectively in these periods. The industry is thus selective and targeting complex products, the brokerage report said. Read more