Stock Market Closing: Benchmark indices closed higher on Wednesday, recouping losses made earlier in the session. Sensex closed 173 points higher at 66,118, while Nifty gained 51 points to close at 19,716. Midcaps and smallcaps outperformed the benchmarks today. Global markets were mixed amid concerns over rising interest rates and their economic fallout. Oil prices climbed as investors weighed expectations of tighter supply against demand concerns.
Market Close: Sensex and Nifty end higher led by RIL, L&T, ITC, Cipla
Benchmark share indices recouped losses made earlier in the session and ended higher on Wednesday. The 30-share Sensex closed 220 points higher at 66,118.69 while the Nifty 50 reclaimed the 19,700 level to close at 19,728.25, up 63.55 points. Midcap and smallcap stocks outperformed the benchmarks today. FMCG, pharma, and realty were the outperformers among the sectors. L&T, ITC, and RIL were among the top gainers on the indices, while Titan, SBI lagged the most. Global markets were mixed amid concerns over rising interest rates and their economic fallout.
Sensex Today Live | Share Market Update: Ahluwalia Contracts bags ₹832 crore order from Max Super Specialty Hospital
AHLUWALIA CONTRACTS INDIA
Sensex Today Live | Share Market Update: Manappuram Finance says Kerala HC negated FIR against firm: Report
Manappuram Finance has confirmed that the Kerala High Court invalidated the FIR lodged against VP Nandakumar, managing CEO and director, in connection with a money laundering case, reported Moneycontrol.
Sensex Today Live | Share Market Update: Man Infra gets necessary approvals for its residential project in Ghatkopar, Mumbai
The luxurious residential project has a carpet area of 400,00 square feet, and has revenue potential of ₹1,200 crore
Sensex Today Live | Share Market Update: RIL, L&T, ITC lend support to Sensex at this hour
Sensex Today Live | Share Market Update: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher on HBL Power Systems
The stock after the decent rally has corrected to some extent to retrace 23.60% of the rise and has witnessed consolidation with improvement in the bias at current levels. The RSI has also flattened out after the slide and is well placed with much upside potential visible. With the chart looking good, we suggest to buy and accumulate this stock for an upside target of 300 keeping a stop loss of 238.
HBL POWER SYSTEMS
Sensex Today Live | Share Market Update: Aditya Birla Fashion becomes promoter of TCNS Clothing
Aditya Birla Group had in May announced its plan to acquire a majority stake in TCNS Clothing, sealing a deal valued at ₹1,650 crore.
ADITYA BIRLA FASHION & RETAIL
Sensex Today Live | Share Market Update: Global markets show mixed performance; concerns mount over rising US interest rates
European equities were mixed in trade on Wednesday, while the dollar maintained its recent gains, all against the backdrop of anticipated prolonged higher US interest rates and a looming property crisis in China.
Across Asia, South Korea, Japan, and China saw slight gains in their stock markets, while Australia witnessed a dip. The upward momentum in equities in Hong Kong and mainland China comes in response to encouraging data revealing improved industrial profits in China.
Sensex Today Live | Share Market Update: Glenmark up nearly 2%; inks distribution, licensing pacts with Cosmo for acne treatment ointment
Sensex Today Live | Share Market Update: Sebi examining proposal for extended derivative trading hours: Reuters
Market regulator Sebi is examining a proposal from the NSE to extend trading hours for index derivatives but a final decision has not yet been taken, two sources with direct knowledge of the matter told Reuters.
Sensex Today Live | Share Market Update: Sensex reclaims 66k; up nearly 450 points from the day's low
Sensex Today Live | Share Market Update: Veer Mishra, Co-Founder of Plus on gold prices
"The ongoing conflict in Ukraine and rising tensions between the US and China have kept gold prices elevated in recent months. The Indian rupee has been falling against the US dollar in recent months, which has made gold imports more expensive. This has put downward pressure on gold prices in the domestic market.
Despite the recent decline, gold prices are still higher than they were a year ago. In September 2022, 22-carat gold was trading at ₹4,950 per gram, while 24-carat gold was trading at ₹5,450 per gram.
Investors who are considering buying gold should carefully consider their investment goals and risk tolerance. Gold is a relatively illiquid asset, and its price can be volatile. However, it can also provide a hedge against inflation and other economic risks."
Sensex Today Live | Share Market Update: YES Securities on Shriram Finance and General Insurance
We expect 14-15% AUM CAGR and 18-19% earnings CAGR over FY23-25 with average RoA/RoE delivery of 3.3%/16%. For reviewing estimates, we would closely monitor a) pricing and volume growth in used CV/PV segment, b) distribution roll-out of GL and MSME Loans in vehicle financing branches and success in cross-sell, c) emerging signs of stress in PL and MSME Loan portfolios (Stage-2 coverage seems low in these products) and d) cost of funds. Even after a strong run-up in the past 3-4 months, the stock’s valuation is reasonable at 1.4x P/ABV and 8.5x P/E on FY25 estimates. Retain BUY with a price target of Rs2300.
Sensex Today Live | Share Market Update: Sai Silks gains over 9% post tepid listing
Sensex Today Live | Share Market Update: Financial services down 0.5% dragged by Bajaj Finance, ICICI Bank
Sensex Today Live | Share Market Update: Suzlon Energy down; agreement with Dilip Shanghvi and Associates terminated
The agreement between Suzlon Energy and Dilip Shanghvi and Associates has been terminated. Hiten Timbadia, the investor group's nominee director on the Suzlon Energy board, has also resigned. Suzlon said there will be no impact on the company's operations.
Sensex Today Live | Share Market Noon Update: Yes Bank's Country Head-Large Corporates Ravi Thota resigns
Manish Jain has been appointed as country head- wholesale banking
Sensex Today Live | Share Market Noon Update: Sensex down 100 points at 65,868; L&T, Sun Pharma gain; Tata Steel, Bajaj Finance
Sensex Today Live | Share Market Update: Nifty Bank drops 0.5%; Bandhan, ICICI, HDFC Bank slip 1% each
Sensex Today Live | Share Market Updates: REC jumps 5% after signing pact with PNB
State-run REC has signed a memorandum of understanding with Punjab National Bank to jointly explore the possibility to fund the power sector and infrastructure & logistics sector projects under the consortium arrangement. REC and PNB will partner to co-finance loans amounting to ₹55,000 crore over next three years.
Sensex Today Live | Share Market Updates: BSE Midcap gains 150 points even as benchmarks drop; PFC, REC lead
Sensex Today Live | Share Market Updates: Sai Silks Kalamandir debuts at 4% premium at ₹231 on NSE
Sensex Today Live | Share Market Updates: Nifty indices rejig: HDFC Bank, Power Grid, PNB among stocks to see top inflows
The semi-annual rejig of Nifty indices will come into effect on September 29, with adjustments occurring on the day before on September 28. The move will result in significant inflows in some stocks including HDFC Bank, Power Grid Corp of India, Shriram Finance and Trent while some others such as NTPC, Page Industries and HDFC Asset Management Company will be among those that will see outflow, said Abhilash Pagaria, head of Nuvama Alternative & Quantitative Research.
Sensex Today Live | Share Market Updates: 5 mid-cap stocks set to grow dramatically in 2024
Certain indicators show these midcap stocks can scale new heights in 2024, says Equitymaster.
Sensex Today Live | Share Market Updates: Nifty Pharma jumps 1% led by Cipla, Gland Pharma, Lupin
Sensex Today Live | Share Market Updates: Signature Global lists with 15.5% premium at ₹445 apiece on BSE
Sensex Today Live | Share Market Updates: Most sectoral indices down; Nifty Pharma outshines with 1% gains
Sensex Today Live | Share Market Updates: Adani Ports to buy back $195 million notes in cash tender offer
Adani Ports and Special Economic Zone Ltd informed exchanges on Wednesday that it will buy back up to $195 million of its notes due in 2024 at a price below their original issue.
ADANI PORTS & SPECIAL ECONOMIC ZONE
Sensex Today Live | Share Market Updates: Vedanta slumps 5% after Moody's downgrade
Moody's Investors Service downgraded Vedanta Resources' corporate family rating from Caa1 to Caa2 over elevated risks of debt restructuring over the next few months. With the current downgrade, the outlook remains negative for the parent company of Vedanta.
Sensex Today Live | Share Market Updates: Nifty was down 52 points at 19,612.10; Divi's Lab, Dr Reddy's were best gainers, while TechM, Titan lagged
Sensex Today Live | Share Market Updates: Sensex down 180 points at 65,758; L&T, Sun Pharma gain, Tata Steel, Bajaj twins drag
Sensex Today Live | Share Market Updates: Sensex, Nifty in red at open; Infy, Vedanta in focus
Sensex Today Live | Share Market Updates: Indian rupee opened flat around Tuesday's close of 83.23 per US dollar
Sensex Today Live | Share Market Updates: Indices are in green at pre-opening session; Infy, Vedanta in focus
Sensex was up 227 points at 66,172.52, and the Nifty rose 65 points to 19,729 in the reopening session
Sensex Today Live | Share Market Updates: Record demand for sovereign gold bonds despite price rise
Investor demand for sovereign gold bonds surged to a record 11.67 tonnes valued at ₹6,914 crore in the second tranche of the current fiscal year despite high gold prices.
Rising global macro uncertainty and high retail price inflation back home, amid rising crude oil prices, are driving investor demand, according to a banker and a senior broking official. (Full report)
Sensex Today Live | Share Market Updates: Initial public offerings: Why retail investors should be wary of SMEs
The SME segment has seen an impressive 135 listings so far this year, compared to just 33 in the primary markets. Industry experts have a word of caution for retail investors. They warn that a combination of financial strategies, market manipulation, and information dissemination can impact stock valuations. (Read more)
Sensex Today Live | Share Market Updates: Religare to be run by independent board: Dabur chairman Mohit Burman
Religare Enterprises is now more than a financial investment for the Burman family, Dabur India chairman Mohit Burman said, after its proposal to take control of the insurance and financial services firm. In August, the family categorized its stake in Religare as a financial investment. (Full report)
Sensex Today Live | Share Market Updates: Govt’s GST claims from gaming firms may touch ₹1.5 tn
The Directorate General of GST Intelligence (DGGI) is expected to issue tax demands of as much as ₹1.5 trillion ($18 billion) cumulatively to companies in the online gaming sector for alleged underpayment of taxes over several years, three people aware of the matter told Mint. (Full report)
Sensex Today Live | Share Market Updates: Oil prices climb as investors weigh expectations of tighter supply against demand concerns
West Texas Intermediate climbed near $91 a barrel after ending 0.8% higher on Tuesday.
Sensex Today Live | Share Market View: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher
"Nifty once again closed on a flat note near 19,650 zone with support maintained near the 19,600 levels with consolidation witnessed in the past the two sessions. As mentioned earlier, the index has got the crucial near-term support zone at around 19,550 levels of the significant 50EMA zone which needs to be sustained.
Bank Nifty has maintained the support near 44,500 levels in the last three sessions witnessing a rangebound movement and a decisive breach above 44,800 is necessary as of now to improve the bias to some extent, according to Parekh.
The index has the next crucial support zone of 43,600 levels and on the upside a decisive breach above 45,000 levels is much important to improve the overall trend and anticipate for further rise. The support for the day is seen at 19,550 levels while the resistance is seen at 19,800 levels. Bank Nifty would have the daily range of 44,300-45,000 levels."
Parekh recommends buying the following stocks:
-Hero MotoCorp Ltd at ₹3,034 with a stop loss of ₹2,990 and a target price of ₹3,150.
-Mazagon Dock Shipbuilders Ltd at ₹2,234 with a stoploss of ₹2,200 and a target price of ₹2,370.
-Mishra Dhatu Nigam Ltd at ₹410.70 with a stoploss of ₹400 and a target price of ₹440.
Sensex Today Live | Share Market Updates: Govt, Sebi in favour of fractional shares
The ministry of corporate affairs and the capital markets regulator are in favour of allowing certain classes of companies to issue so-called fractional shares, a person aware of the development told Mint. (Full report)
Sensex Today Live | Share Market Updates: Stocks to Watch: Vedanta, Infosys, Suzlon, Shree Renuka Sugars, REC
Vedanta, Infosys, Suzlon, Shree Renuka Sugars, REC are among the top ten stocks that are likely to be in focus today
Sensex Today Live | Share Market Updates: Asian markets mixed amid concerns over higher interest rates
Asian markets traded mixed on Wednesday amid worries about the impact of higher interest rates. Investors await China’s industrial data and Australia’s August inflation figures due today. Tuesday, Wall Street's major stock indexes followed Asian and European equities lower as investors continued to digest last week's indication from the Federal Reserve that it would keep rates higher for longer than investors had previously expected.
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