Home / Markets / Stock Markets /  Sensex ends up nearly 260 points, Nifty above 11,600; M&M, Bajaj Auto lead gains

Sensex ends up nearly 260 points, Nifty above 11,600; M&M, Bajaj Auto lead gains

On Tuesday, Sensex closed 288 points, or 0.7%, higher at 39,044.35 while Nifty settled 82 points up at 11,521.80. (Photo: Mint)Premium
On Tuesday, Sensex closed 288 points, or 0.7%, higher at 39,044.35 while Nifty settled 82 points up at 11,521.80. (Photo: Mint)

  • Joining the chorus of economic forecasters, ADB on Tuesday had said India’s growth outlook remains vulnerable to either a prolonged outbreak or a resurgence of cases. It expects the country's GDP to shrink 9% this fiscal

Welcome to the Mint live blog. Track this space for latest stock market updates:

16 Sep 2020, 03:51:59 PM IST

Indian equities rally; benchmark indices settle near day's highs

Benchmark equity indices ended near their respective intraday highs on Wednesday, fuelled by gains in auto, realty and pharma stocks.

The Sensex closed 259 points, or 0.66%, higher at 39,302.85 and Nifty settled 83 points, or 0.72%, up at 11,604.55.

BSE Midcap and Smallcap indices closed 0.21% and 0.44% higher, respectively.

Among sectors, Nifty Auto, Nifty Pharma, and Nifty Realty gained the most, rising 1.5-2.35 higher. Nifty Media and Nifty PSU Bank fell the most. Dr Reddy's and M&M were the top gainers on Nifty50 while IndusInd Bank and NTPC were the top losers.

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16 Sep 2020, 03:36:59 PM IST

Nifty view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

"We were successful in getting past the resistance zone of 11550 - 11575 during trade and also managed to close above these levels. This is a bullish sign and we should now expect markets to move towards 11800 and then 12000. Every dip can now be utilised to buy into. The Nifty support is at 11300-11350 levels."

16 Sep 2020, 03:30:52 PM IST

Govt to hold crucial meet with Opposition parties today, passage of key bills to be discussed

16 Sep 2020, 03:24:52 PM IST

Sensex contributors

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16 Sep 2020, 03:20:04 PM IST

Volume toppers on Sensex

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16 Sep 2020, 03:15:51 PM IST

Global fund managers’ survey: Expectations of recovery in earnings highest since 2009

An increasing number of global fund managers are turning optimistic about a revival in corporate earnings. Around 69% of respondents see global profits improving over the next 12-months, showed Bank of America Merrill Lynch’s latest survey. This is the highest level since December 2009, said the survey report.

16 Sep 2020, 03:10:14 PM IST

Pharma stocks surge

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16 Sep 2020, 03:00:23 PM IST

Nifty check

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16 Sep 2020, 02:53:54 PM IST

EU plans to sell 225 billion euros of green bonds for stimulus: Bloomberg

16 Sep 2020, 02:52:59 PM IST

HPCL to invest ₹60,000 crore in five years for capex

State-run Hindustan Petroleum Corporation Ltd (HPCL) will invest 60,000 crore for developing infrastructure during the next five years, chairman Mukesh K Surana said at the company's 68th annual general meeting today.

The investments will be made in HPCL's refinery expansion and augmentation projects to increase capacity of Mumbai Refinery to 9.5 million metric tonnes per annum (mmtpa) and Visakh Refinery to 15 mmtpa.

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16 Sep 2020, 02:49:33 PM IST

Barbados to remove Queen Elizabeth as head of state: BBC

16 Sep 2020, 02:46:26 PM IST

Revenues of Indian airlines fell 85.7% in April-June due to covid-19: Minister Puri

16 Sep 2020, 02:41:51 PM IST

Russian fund and Dr Reddy’s to cooperate on clinical trials and supply of 100 million doses of Sputnik V vaccine to India

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16 Sep 2020, 02:40:15 PM IST

Nifty broad market indices

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16 Sep 2020, 02:36:59 PM IST

Verdict in Babri mosque demolition case on 30 September: PTI

16 Sep 2020, 02:29:26 PM IST

Sensex check

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16 Sep 2020, 02:27:36 PM IST

ONGC exits Sudan oilfields: PTI

Oil and Natural Gas Corp (ONGC) has exited from Sudan oilfields after the African nation refused to pay for oil it lifted from the fields.

ONGC Videsh Ltd (OVL), the overseas investment arm of the state-owned firm, as also its Chinese partner CNPC and Malaysia's Petronas have withdrawn from the block, a top company official said.

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16 Sep 2020, 02:25:04 PM IST

Bank Nifty turns positive

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16 Sep 2020, 02:21:12 PM IST

Russia to sell 100 million doses of COVID-19 vaccine to India - Reuters

Russia's sovereign wealth fund has agreed a deal to sell 100 million doses of its COVID-19 vaccine, Sputnik-V, to a major listed pharmaceutical company in India, a source close to the deal said on Wednesday.

Clinical trials of the Russian vaccine in India are expected to follow and to be held jointly with this firm, the source said. Both the trials and supply deal depend on domestic regulatory approval.

16 Sep 2020, 02:20:12 PM IST

Centre's total tax collection till 15 Sep down 22.5% at ₹ ₹2.53 trillion: PTI

16 Sep 2020, 02:08:36 PM IST

Indian rupee ends at 73.52 per dollar vs Tuesday's close of 73.65/$

16 Sep 2020, 02:04:15 PM IST

Top losers on BSE

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16 Sep 2020, 02:03:27 PM IST

Top gainers on BSE

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16 Sep 2020, 01:53:31 PM IST

Crude oil jumps as Hurricane Sally hits U.S. offshore output: Reuters

More than a quarter of U.S. offshore output was shut on Tuesday due to Hurricane Sally. The American Petroleum Institute on Tuesday said crude inventories fell 9.5 million barrels, rather than increased as analysts expected.

Brent crude rose 77 cents, or 1.9%, to $41.30 a barrel, while U.S. crude added 85 cents, or 2.2%, to $39.13. Both contracts rose by more than 2% on Tuesday.

16 Sep 2020, 01:43:42 PM IST

Domestic air traffic down 76% year-on-year to 28.3 lakh in August

Domestic air traffic fell 76% year-on-year to 28.3 lakh. in August, as per data available with DGCA.

Air India had market share of 9.8% in August, up from 9.1% the previous month. IndiGo's market share declined to 59.4% from 60.4% in July.

16 Sep 2020, 01:36:31 PM IST

CAMS IPO price band fixed at ₹1,229-1,230; issue to open on Monday

The IPO will see NSE Investments Limited divest its entire 37.48% stake in CAMS. Other marquee shareholders in CAMS are Great Terrain (an affiliate of Warburg Pincus) which holds 43.50%, HDFC and HDFC Bank which hold 5.99% and 3.33% respectively. The company aims to raise 2,242 crore through the IPO, proceeds of which will not be received by CAMS.

“Initial public offer of up to 18,246,600 equity shares of face value of 10 each of Computer Age Management Services Limited per equity share, through an offer for sale of up to 18,246,600 equity shares aggregating up to by NSE Investments Limited," the company said in a statement.

16 Sep 2020, 01:23:02 PM IST

Nifty Pharma up 1%

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16 Sep 2020, 01:21:55 PM IST

Stocks with top turnover on BSE

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16 Sep 2020, 01:20:54 PM IST

Market check

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16 Sep 2020, 01:03:13 PM IST

Lufthansa CEO prepares staff for deeper job and fleet cuts: Bloomberg

Deutsche Lufthansa AG is preparing for more drastic cutbacks in its global workforce and airline fleet than it previously planned, after a hoped-for recovery of air traffic fizzled out.

Recent rules that forced travelers into quarantine have had a catastrophic effect on bookings, Chief Executive Officer Carsten Spohr told staff at a meeting on Tuesday, according to people in attendance. For October, seat reservations stand at less than 10% of year-ago levels, said the people, who asked not to be named discussing comments that weren’t publicly made.

16 Sep 2020, 12:58:46 PM IST

European stocks edge higher: Bloomberg

European stocks rose along with U.S futures as investors waited for the outcome of the Federal Reserve’s policy meeting later Wednesday. Treasuries and the dollar were steady.

The Stoxx Europe 600 Index gained 0.3% while Germany’s DAX Index 0.2%.

Crude oil extended gains following a surprise drop in U.S. crude stockpiles.

16 Sep 2020, 12:44:43 PM IST

Fragility of NBFCs is a concern and they are still not at par with banks in terms of regulation, says RBI Governor: Agencies

Regulation at non-banking financial companies still not on a par with that at banks, Das said at a Ficci event, adding that the RBI does not want another shadow bank to fail and is closely monitoring top 100 non-banks.

16 Sep 2020, 12:35:35 PM IST

China sends satellites into space in first sea-based commercial launch: Reuters

16 Sep 2020, 12:34:31 PM IST

Banks among worst hit on Sensex

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16 Sep 2020, 12:33:19 PM IST

M&M extends gains

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16 Sep 2020, 12:15:55 PM IST

14 feared drowned as boat capsizes in Rajasthan’s Chambal river: Hindustan Times

16 Sep 2020, 12:08:08 PM IST

Nifty PSU Bank among worst hit sectoral indices

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16 Sep 2020, 12:07:03 PM IST

Lakshmi Vilas Bank hit 10% upper circuit on update on Clix Group merger

Private sector lender Lakshmi Vilas Bank on Tuesday said the mutual due diligence for its deal with Clix Group is “substantially complete".

“We wish to inform that the mutual due diligence is substantially complete, and the parties are in discussions on the next steps," the bank said in a regulatory filing.

The bank has shortlisted three firms for a valuation exercise and is likely to finalise one over the next week, said a person aware of the matter.

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16 Sep 2020, 11:55:41 AM IST

High-frequency indicators point to a trough in economic indicators: RBI Governor Das

Uptick noticed in June and July seems to have levelled off now for some sectors: Das

16 Sep 2020, 11:43:09 AM IST

Economic recovery is not fully entrenched; recovery to be gradual, says RBI Governor Das: PTI

Persistently large liquidity infusion by RBI has ensured large borrowing by the government at low rate and in non-disruptive manner, said Das at a Ficci event.

16 Sep 2020, 11:41:14 AM IST

Indian rupee at 73.77 per dollar vs Tuesday's close of 73.63/$

The unit had opened at 73.70 per dollar.

16 Sep 2020, 11:34:17 AM IST

RIL hit fresh high of ₹2,368.80 apiece; market cap touched ₹16 trillion

The stock had risen 2.2% to hit a fresh record high of 2368.8 on the BSE briefly, pushing its valuation over 16 trillion, before pulling back. At 11.33am, the stock was at 2349.20.

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16 Sep 2020, 11:20:42 AM IST

SpiceJet marginally up after opening in the red; ATF prices cut

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16 Sep 2020, 11:19:05 AM IST

Nifty sectoral indices

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16 Sep 2020, 10:59:10 AM IST

SC rejects govt plea challenging $499 man arbitral award in Vedanta’s favour: CNBC-TV18

Supreme Court upholds arbitral award allowing cost recovery of $499 m by Vedanta for Ravva Oil fields.

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16 Sep 2020, 10:54:29 AM IST

Most active stocks on Nifty

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16 Sep 2020, 10:50:38 AM IST

Karnataka clears NMDC application to resume mining operations at Donimalai

Karnataka government has cleared NMDC Ltd's application to commence mining operations at Donimalai, two years after production was suspended in the seven-million-tonnes-per-annum mine in the mineral-rich Ballari district of the state.

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16 Sep 2020, 10:44:16 AM IST

Japan's Suga formally voted in as PM, readies 'continuity cabinet': Reuters

16 Sep 2020, 10:42:14 AM IST

EPFO looks at criminal action to recover stressed investments: Indian Express

EPFO is considering exercising all legal options, including criminal action, against companies for recovery of its stressed debt investments amounting to over 12,800 crore.

At its meeting last week, the Central Board of Trustees (CBT) chalked out a plan of action after discussing the status reports of the risky investments spread across companies including Reliance Capital, DHFL, IL&FS, Yes Bank, Indiabulls and IDFC, three CBT members said. Measures for recovery will be taken for each company separately on “priority basis", they said.

16 Sep 2020, 10:39:34 AM IST

Shapoorji Pallonji Group falters again on repayments to Sterling & Wilson Solar

The Shapoorji Pallonji group has told group company Sterling & Wilson Solar Ltd (SWSL) that it is unable to repay over Rs1,000 crore in dues, schedule for June and September, as per a filing to the stock exchanges on Wednesday.

The repayment is part of dues worth 2,644 crore that the promoters owe to SWSL. The loan was to be repaid within 90 days of Sterling and Wilson Solar’s IPO, which ended mid-November 2019.

The promoters had sought an extension for repaying the loans, blaming “significant and rapid deterioration in the credit markets. The promoters have so far repaid 1,500 crore the company, with 500 crore due on 30 June and rest due by 30 September.

16 Sep 2020, 10:34:00 AM IST

Nifty technicals: Sameet Chavan, chief analyst-technical and derivatives, Angel Broking

"...Indices seemed to have lost clear direction and are clearly trapped in a range...For Nifty, if 11570 is taken out, we would see some extension towards 11625 - 11675 levels and if this has to happen, the banking stocks needs to replicate yesterday’s move. On the flipside, 11450 followed by 11380 are to be seen as key supports. Yesterday for the second day, stocks from the broader market kept buzzing. However, this is nowhere similar to mid n small cap rally that we witnessed in previous couple of months. Hence, one needs to pick the right stock and should keep booking timely profits. Apart from this, Pharma stocks had a good first half yesterday after a brief pause of nearly 2-3 weeks. We reiterate, one should follow stock specific moves but avoid aggressive bets."

16 Sep 2020, 10:26:42 AM IST

Nifty Bank down

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16 Sep 2020, 10:22:56 AM IST

Axis Bank worst hit stock on Sensex at this hour

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16 Sep 2020, 10:03:08 AM IST

BSE SmallCap up 0.38%

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16 Sep 2020, 09:55:56 AM IST

Nifty Auto surges over 2%

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16 Sep 2020, 09:47:46 AM IST

BSE MidCap continues to rally, outperforms Sensex

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16 Sep 2020, 09:46:42 AM IST

Nifty broad market indices

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16 Sep 2020, 09:45:07 AM IST

Nifty view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

"We have moved a wee bit closer to the 11550 level this morning, we need to get past this for an impulsive rally to commence. Until then we will be stuck within a low volume range of 11400 - 11550. Once we cross the levels of 11550-11575, we can look forward to 11800 and then 12000."

16 Sep 2020, 09:43:28 AM IST

Piramal Enterprises up over 1% in subdued market

Blackstone Group and Partners Group Holding AG are vying for a controlling stake in Piramal Enterprises Ltd’s glass unit, Bloomberg has reported.

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16 Sep 2020, 09:39:53 AM IST

India's coronavirus tally crosses 50 lakh after 90,123 new cases reported

With this latest spike, the India's case load stands at 50,20,360, of which 9,95,933 are active 39,42,361 have been cured/discharged/migrated, the health ministry said.

Death toll rose to 82,066 after 1,290 deaths in the last 24 hours.

16 Sep 2020, 09:35:45 AM IST

M&M top gainer on Sensex at this hour

Mahindra and Mahindra’s overseas subsidiary SsangYong Motor was close to signing a binding investment agreement with US-based HAAH Automotive Holdings, the Economic Times has reported citing Korean media. Mahindra had earlier announced that it will not make any further investments in the ailing SUV-maker and wanted to give up its controlling stake.

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16 Sep 2020, 09:21:46 AM IST

Sensex stocks in early deals

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16 Sep 2020, 09:20:55 AM IST

Nifty in opening deals

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16 Sep 2020, 09:19:51 AM IST

Market at open

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16 Sep 2020, 09:17:30 AM IST

Gold prices struggle ahead of US Fed statement, down ₹4,500 from highs; silver falls

On MCX, gold futures rose 0.08% to 51,810 per 10 gram while silver futures slipped 0.07% to 68,921 per kg. Gold prices had hit a record 56,200 last month.

In global markets, gold moved lower after hitting a two-week high in the previous session. Investors turned cautious ahead of the US Fed policy decision, due later today, amid a flat dollar.

Spot gold was down 0.2% to $1,952.15 per ounce, after rising to $1,971.71 in the previous session.

16 Sep 2020, 09:14:08 AM IST

Jet fuel price cut by 7% to ₹39,492.53/kL in Delhi: IOC

16 Sep 2020, 09:11:20 AM IST

China gives covid vaccine to thousands under emergency use programme: Reuters

16 Sep 2020, 09:08:09 AM IST

Sensex stocks at pre-open

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16 Sep 2020, 09:05:06 AM IST

Nifty at pre-open

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16 Sep 2020, 09:04:29 AM IST

Market at pre-open

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16 Sep 2020, 08:58:15 AM IST

Nifty view: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

"We did inch towards the 11,550 levels but could not conquer it; it is imperative this happens as that would signal a new impulse rally on the upside. That rally could take us to 11800 and then towards 12000."

16 Sep 2020, 08:50:34 AM IST

Nepal wakes up to 6.0 magnitude earthquake, no damage reported

16 Sep 2020, 08:49:05 AM IST

Lok Sabha passes bill to cut MPs’ salaries amid uproar over MPLADS

The Lok Sabha on Tuesday passed a bill to reduce the salaries of lawmakers by 30% for one year in view of austerity measures needed to mitigate the fallout of disruptions caused by the covid-19 pandemic.

The Salary, Allowances and Pension of Members of Parliament (Amendment) Bill, 2020, was introduced in the Lower House on Monday by Union parliamentary affairs minister Pralhad Joshi. It will replace the Salary, Allowances And Pension of Members of Parliament (Amendment) Ordinance, 2020 brought in April.

16 Sep 2020, 08:21:18 AM IST

Oil prices tick higher

Global benchmark Brent crude rose 0.79% to $40.85 per barrel and U.S. West Texas Intermediate crude ticked up 1.02% to $38.67 a barrel.

16 Sep 2020, 08:20:21 AM IST

RBI governor Shaktikanta Das to address Ficci members today

16 Sep 2020, 08:19:10 AM IST

Stocks to Watch

NBFCs, banks, pharma stocks, SpiceJet, and Aurobindo Pharma will be in focus today's trade.

16 Sep 2020, 08:16:15 AM IST

SGX Nifty lower in early deals

SGX Nifty futures were down 0.3% at 11,498.00 points, indicating a weak start for Indian benchmark equity indices.

16 Sep 2020, 08:05:58 AM IST

Asian stocks trade on a mixed note ahead of US Fed meeting

Asian stocks were little changed on Wednesday as investors awaited a Federal Reserve meeting to gauge the extent of central bank support for the economic recovery, Bloomberg reported. Crude oil extended gains.

Japan’s Topix index added 0.1%, Hong Kong’s Hang Seng rose 0.4%. Shanghai Composite slid 0.1% and Australia’s S&P/ASX 200 Index rose 0.7%.

South Korea’s Kospi index dipped 0.1%.

16 Sep 2020, 08:03:36 AM IST

Wall Street stocks rise on hope of supportive US Fed stance

US stocks rose on Tuesday as investors hoped the Federal Reserve would stick with its supportive policy stance as the central bank's two-day meeting got underway, Reuters reported.

Advances, however, were capped as Apple Inc's shares lost early gains following its rollout of a new virtual fitness service and a bundle of all its subscriptions, Apple One.

The Dow Jones Industrial Average rose 82.51 points, or 0.29%, to 28,075.84, the S&P 500 gained 24.6 points, or 0.73%, to 3,408.14 and the Nasdaq Composite added 153.85 points, or 1.39%, to 11,210.50.

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