Markets

sensex today: CLOSING BELL: Sensex ends volatile session 105 points higher, Nifty above 17,800; Nazara rallies 11%, RPower tanks 10%

Benchmark indices ended on a firm note on Friday, extending their previous day’s gain, amid continuous foreign fund inflows and a positive trend in the global markets.

The 30-share BSE Sensex climbed 104.92 points or 0.18 per cent to settle at 59,793.14. During the day, it jumped 431.58 points or 0.72 per cent to 60,119.80.

On similar lines, the broader NSE Nifty ended higher by 34.60 points or 0.19 per cent to 17,833.35.

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Domestic equities edged higher amid positive global cues. Nifty opened gap-up but failed to sustain at higher levels and closed with marginal gains of 34 points (+0.2%) at 17,833. India VIX cooled off by 3% to 17.7 levels. Global markets recovered after the bond yields came off from recent high. Further, ECB’s rate hike by 75bps came in line with expectation. Indian equities although closed positive, faced resistance below 18k levels as markets failed to sustain yesterday’s momentum and fell from day’s highs. Switching out from recent outperforming sectors led to profit booking in the market today. Fresh buying was witnessed in IT and metals while profit booking was seen in Cement, real estate, consumer stocks. Global markets too are trying to shrug off growth and inflation concerns and are likely to make a positive weekly close after 3 consecutive weeks of losses. Domestic markets are likely to remain firm on the back of healthy macro data, strong intuitional flows and improvement in festive demand. Expect sectors linked to capital expenditure, consumption and credit growth to do well over the next few weeks.

– Mr. Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

After a long phase of consolidation, the Indian rupee has edged higher amid an array of favorable factors playing out for the domestic currency. The key catalyst driving the Indian rupee higher has been the steep decline in crude oil prices wherein they have slipped to a 7-month low while hovering around the $90 a barrel mark. Every $10 a barrel fall in crude prices leads to inflation inching lower by around 25bps and also reduces our import bill significantly which bodes well for the economy as well as the Indian rupee. The dollar index has also retreated from two-decade highs following a super-sized rate hike of 75bps by the ECB and its hawkish stance, which is further supporting the local unit. The “risk on” sentiments and strong gains in domestic equities are favoring a positive bias for the rupee-dollar exchange rate. Besides, the Indian rupee has witnessed a lot of resilience around the key 80.10 mark over the last couple of days, from where it has reversed course, and now seems to witness appreciation in coming days towards the 79.20 mark.

– Ms.Sugandha Sachdeva, Vice President – Commodity and Currency Research, Religare Broking Ltd.

Nifty has given a falling trendline breakout on the daily chart. Besides, the index value has moved above its crucial resistance of 17700. The daily RSI has entered into a bullish crossover. The trend for the short term looks positive. On the lower end, support is visible at 17700. Resistance on the higher end is seen at 17900/18100.

– Rupak De, Senior Technical Analyst at LKP Securities

Markets ended marginally higher in a volatile session, in extension to the recent up move. Firm global cues triggered an upbeat start in Nifty however profit taking at the higher levels capped the upside. Meanwhile, sectoral indices traded mixed wherein rebound in IT and buying in banking and auto kept the tone positive. The broader indices traded in line with the benchmark and closed marginally higher.We maintain our bullish view on markets and suggest continuing with the “buy on dips” approach. The recent rebound in the US markets is further adding to the comfort. As we’re seeing buying interest across the board, the focus should be more on the best-performing sectors viz. banking, financials, auto and FMCG, and remain selective in the others.

– Mr. Ajit Mishra, VP – Research, Religare Broking Ltd

NIFTY CLOSES ABOVE 17,800 FOR FIRST TIME SINCE JAN 2022

CLOSING BELL: Sensex ends volatile session 105 points higher, Nifty above 17,800; Nazara rallies 11%, RPower tanks 10%

CLOSING BELL: Sensex ends volatile session 105 points higher, Nifty above 17,800; Nazara rallies 11%, RPower tanks 10%

Equity MF inflows, while positive, have moderated in recent months. There is usually a psychological tendency amongst domestic investors to book profits near all-time highs (especially when the markets have corrected post hitting similar levels in recent past), which is also getting reflected in the lower quantum of inflows. While MF equity flows have moderated, foreign portfolio investor flows have revived and supported equity markets.

– Mr. Arun Kumar, Head of Research, FundsIndia

Global market check

  • The Stoxx Europe 600 rose 1.6% as of 10:19 a.m. London time
  • Futures on the S&P 500 rose 0.8%
  • Futures on the Nasdaq 100 rose 1%
  • Futures on the Dow Jones Industrial Average rose 0.7%
  • The MSCI Asia Pacific Index rose 1.6%
  • The MSCI Emerging Markets Index rose 1.2%

India rupee holding ground clouds export appeal – analysts

  • India faces the risk of losing its export advantage as the rupee holds ground amidst a rapid weakening of other trade-dependant Asian currencies, Standard Chartered Bank’s head of South Asia economic research said on Friday.

  • The rupee has largely maintained the same level versus the dollar in the past three weeks, while the Malaysian ringgit and the Philippine peso are trading near record-lows due to a sustained weakness in the Chinese yuan .

  • A stronger rupee hurts India’s exporters as it reduces the value of their foreign earnings when converted to the local currency.

  • Traders have pointed to the Reserve Bank of India’s intervention to prevent the rupee from tumbling past the key psychological level of 80 per dollar over the past few weeks as the greenback surged to two-decade highs.

Media stocks: Zee up 2%, TV18 Broadcast, Sun TV among those down

Price as on 09 Sep, 2022 03:19 PM, Click on company names for their live prices.

#ETNOWExclusive | Shailesh Chandra of @TataMotors says EV car sales in India witnessing multifold growth; EV car sales jumped to 22k in FY22; the cost of overall components for EV to decline

BSE SmallCap outperforms Sensex

BSE SmallCap outperforms Sensex

SpiceJet appoints Ashish Kumar as CFO from Sept 8: Agencies

Price as on 09 Sep, 2022 02:47 PM, Click on company names for their live prices.

September stocks: 10 counters that can rally up to 40% as bulls refuse to back down

September stocks: 10 counters that can rally up to 40% as bulls refuse to back down

PNC Infratech has signed a concession agreement for a HAM project with National Highways Authority of India (NHAI) for a bid project cost of Rs 1,458 crore. This road project in Uttar Pradesh is to be constructed in 24 months, upon declaration of appointed date and operated for 15 years, post construction.

Price as on 09 Sep, 2022 02:33 PM, Click on company names for their live prices.

Mahindra & Mahindra, bullish on green mobility, will drive in its first electric sports utility vehicle – XUV 400 – early next year. The company globally unveiled the five-seater model which comes with a driving range of 456 km (ARAI certified) on a single charge and can attain 0-100 km per hour acceleration in 8.3 seconds.

Price as on 09 Sep, 2022 02:32 PM, Click on company names for their live prices.

Growth Forever: Why Milind Karmarkar has not changed top 3 stocks in his portfolio since Covid

Growth Forever: Why Milind Karmarkar has not changed top 3 stocks in his portfolio since Covid

Ashoka Buildcon down 1% as Nifty Infra index is in the negative

Price as on 09 Sep, 2022 01:59 PM, Click on company names for their live prices.

Emkay Global Financial Services, the asset management arm of the stockbroker, Emkay Investment Managers, is expecting to garner around Rs 350 crore from a new fund. Emkay emerging stars series V fund will open for investment on Friday, and the money collected will be invested in top-quality stocks in the manufacturing sector.

Price as on 09 Sep, 2022 01:56 PM, Click on company names for their live prices.

Reliance Power board has approved a proposal to issue up to 60 crore equity shares and/or warrants at an issue price of Rs 15.55 per share to raise Rs 933 crore through the issuance of equity shares to VFSI Holdings. The board also approved the notice convening the EGM to be issued to the members seeking approval.

Price as on 09 Sep, 2022 01:55 PM, Click on company names for their live prices.

PVR to seek nod from shareholders, creditors on Oct 11 for merger with INOX

Price as on 09 Sep, 2022 01:53 PM, Click on company names for their live prices.

Inflows in equity MFs hit 10-month low of Rs 6,120 cr in Aug

Equity mutual funds attracted Rs 6,120 crore in August, the lowest level in 10 months, amid a volatile stock market environment.

This was the 18th straight month of inflows in equity mutual funds but the pace of inflow has been declining over the past few months.

The net inflows in August were lower compared to Rs 8,898 crore in July, Rs 15,495 crore seen in June, Rs 18,529 crore in May and Rs 15,890 crore in April, according to data released by Association of Mutual Funds in India (Amfi) on Friday.

#ETNOWExclusive | HDFC has swapped its recent U.S dollar 1.1 bn social loan into rupees. Here are all the details

Zydus Lifesciences Ltd has acquired rights to market MonoFerric injection, used to treat iron deficiency in adult patients, in India and Nepal from Denmark-based Pharmacosmos A/S, the company said in a stock exchange filing on Friday.

Price as on 09 Sep, 2022 01:01 PM, Click on company names for their live prices.

Pharma major Lupin said Friday it has launched the generic of Suprep Bowel Prep Kit Oral Solution, used for cleansing colon as a preparation for colonoscopy, after getting an approval from the United States Food and Drug Administration. US FDA’s approval is for sodium sulfate, potassium sulfate and magnesium sulfate oral solution of strength 17.5 g/3.13 g/1.6 g per 6 ounces, Lupin said in a stock exchange filing.

Price as on 09 Sep, 2022 12:57 PM, Click on company names for their live prices.

HDFC Bank has mobilised Rs 3,000 crore from bonds to fund business growth. The bank issued and allotted bonds to investors on a private placement basis. These unsecured, subordinated, fully paid-up, non-convertible, Basel III compliant perpetual debt would carry a coupon rate of 7.84 per cent.

Price as on 09 Sep, 2022 12:54 PM, Click on company names for their live prices.

GSPL jumps over 9%, touches biggest single day gain Feb 2021Shares of Gujarat State Petronet (GSPL) rose as much as 9.4 per cent on Friday’s trade. The scrip touched its biggest single day gain since Feb 18, 2021. The stock also traded above all key DMA levels except 200 DMA. At 12.14 pm, The scrip was trading 6.01 per cent higher at Rs 253.85 over its last day’s closing of Rs 239.45 a piece. However, the stock has fallen to over 27 per cent in the past one year while it has been down around 15 per cent year-to-date.

Price as on 09 Sep, 2022 12:35 PM, Click on company names for their live prices.

Sensex outperforms BSE MidCap

Sensex outperforms BSE MidCap

STOCK IN FOCUS: IDBI Bank

AMFI DATA FOR AUG | Net Equity Inflow at Rs 5,942 cr vs Rs 8,883 cr (MoM)

AMFI DATA FOR AUG | Net Equity Inflow at Rs 5,942 cr vs Rs 8,883 cr (MoM)

Cement stocks zoom up to 44% in 3 months. Is the worst over?

Cement stocks zoom up to 44% in 3 months. Is the worst over?

Reliance Power shares in early trade hit 10 per cent lower circuit of Rs 19.2 after the company announced dilution of 15 per cent stake for Rs 933 crore to VFSI Holdings. This is as against the previous day’s closing price of Rs. 21.3 apiece on the NSE. In the filing with the exchanges the company said, “the Board of Directors at its meeting held today i.e. on Thursday, September 8, 2022, has approved, inter alia: a. issuance of upto 60 crore equity shares and/or warrants convertible into equity shares through preferential allotment on a private placement basis to VFSI Holdings Pte. Limited, a foreign investor (Investor), and in this regard, to enter into an investment agreement with the Investor”.

Price as on 09 Sep, 2022 11:55 AM, Click on company names for their live prices.

Yash Management and Satellite further acquires 5% equity shares in subsidiary co Sudarshan Polyfab

Price as on 09 Sep, 2022 11:54 AM, Click on company names for their live prices.

Sensex has crossed 60k mark once again within a month, showing strength in the market. Buying was seen at every fall suggesting the inherent strong fundamentals of the domestic market. Robust macro data points, healthy corporate earnings and above average monsoon is providing support to the market despite weak global cues. Though the aggressive rate hikes by global central banks are likely to continue in near term despite the fear of recession looming large, Indian market is showing resilience as it benefits from the from the strong domestic consumption and China+1 strategy. Even FIIs have been enthusiastic about Indian Markets since Aug’22, despite noise surrounding the global cues. FIIs have bought more than Rs 20k crore in last 40 days. Further, fall in crude Oil prices to seven-month lows aided domestic sentiments. Now it needs to sustain this momentum going forward, for further upmove towards higher levels.

– Sneha Poddar, AVP – Research, Broking & Distribution, Motilal Oswal Financial Services

Most Active Nifty Stocks by Value

Most Active Nifty Stocks by Value

Pharmaceuticals firm Lupin Ltd on Friday said it has launched the generic sodium sulfate, potassium sulfate and magnesium sulfate oral solution, used for cleansing colon as a preparation for colonoscopy, in the US market following approval from the country’s health regulator.

Price as on 09 Sep, 2022 11:43 AM, Click on company names for their live prices.

Our stance yesterday was to ride the upsides until 17770-850before looking for signs of bears regrouping. Wayward VIX had refrained us from committing to a directional move even though the 18600 trajectory has been maturing for a while now. This has been the reason for riding the recent moves pivot to pivot rather than embarking on an expansive move. From this perspective, we will go in today, with a downside marker pushed higher to17750, aiming for 17975. While we are biased towards extending upside, we are equally mindful of a sharp long liquidation, should Nifty slip beyond 17700 again.

– Anand James – Chief Market Strategist at Geojit Financial Services

Shares of NDTV hit the 5 per cent lower circuit in Friday’s trade, extending their losing streak to four straight sessions. Shares of broadcasting player NDTV declined 5 per cent, its daily circuit limit, to Rs 440.65 on BSE. The stock has fallen 22.4 per cent from the record high of Rs 567.85 in the last four days. Adani Group’s flagship firm Adani Enterprises, led by world’s third richest man Gautam Adani, holds about 29.18 per cent stake in the company and is eyeing for a controlling stake in the media broadcaster.

Price as on 09 Sep, 2022 11:34 AM, Click on company names for their live prices.

Metal stocks mixed; JSPL, APL Apollo Tube in red

Price as on 09 Sep, 2022 11:33 AM, Click on company names for their live prices.

The Tata Group’s utility firm Tata Power Renewable Energy said it will set up a 100 MW solar power plant for Viraj Profile in Maharashtra. Viraj Profile (VPPL) is a stainless steel manufacturer, which owns and operates a plant located at Tarapur NSE 1.00 % at Nandgaon.

Price as on 09 Sep, 2022 11:07 AM, Click on company names for their live prices.

Shares of Granules India zoomed close to 6 per cent during the early trade on Monday amid the reports that PI Industries is looking to buy a stake in the company. PI Industries is in talks with Granules India to buyout a promoter stake, reported ET Now citing sources. “Initial discussions between the two companies have already taken place,” it said. The promoters of Granules India have a 42 per cent stake in the pharmaceutical company which is valued at Rs 3,200 crore, the report said further.

Price as on 09 Sep, 2022 11:02 AM, Click on company names for their live prices.

Does the fact that #India had held up mean we have more room to fall or that we are stronger, and why? @nikhilkamathcio

Automotive technology firm, Sona BLW Precision, said it has completed production of 1,00,000 EV traction motors. The company’s R&D team designed and developed these motors in-house and launched them for production in 2020.

Price as on 09 Sep, 2022 10:44 AM, Click on company names for their live prices.

The state run Coal India informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with high inflation. The miner was seeking to raise prices to mitigate high input costs on account of high diesel and explosives prices, among others. CIL has not raised prices in the last four years.

Price as on 09 Sep, 2022 10:43 AM, Click on company names for their live prices.

What should investors do with L&T, ICICI Bank and Bank of Baroda?

What should investors do with L&T, ICICI Bank and Bank of Baroda?

Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

In the last public appearance before the September 20-21 Fed meeting, the Fed chief Jerome Powell yesterday reiterated his resolve to fight inflation “until the job is done.” So a 75 bp rate hike on September 21st will not surprise the market. The market now believes that the sharp rate hikes will not cause a deep recession. That’s why the global cues have turned slightly positive.

In India, the market momentum is so strong that the benchmark indices are moving towards previous record highs. Even though valuations are getting expensive investors should remain invested in this strong market. Strong FII buying and short covering can surprise the market on the upside. Domestic economy-facing stocks continue to be the favourites. Bank Nifty is moving towards record highs.

Auto components maker Samvardhana Motherson International said it will acquire Daimler India Commercial Vehicles’ frame manufacturing and assembly operations facilities in Chennai. The company has signed a strategic agreement, including a long-term deal with DICV for supply of the complete frame assembly as a part of the transaction.

Price as on 09 Sep, 2022 10:19 AM, Click on company names for their live prices.

Nifty PSU Bank index up 1.23%; PNB up 2.35%, SBI almost 2%

Price as on 09 Sep, 2022 10:18 AM, Click on company names for their live prices.

#ETNOWExclusive | | PI Industries, Granules India in focus! PI Industries is in talks with Granules to buyout promoter stake

Cerberus Capital and Asset Reconstruction Company of India (Arcil) have dropped out of the race to acquire more than Rs 48,000 crore of distressed loans of Yes Bank. They did not submit a counter-bid against a binding offer by JC Flowers ARC.

Price as on 09 Sep, 2022 10:00 AM, Click on company names for their live prices.

Anil Ambani’s Reliance Power Ltd (RPL) will raise Rs 933 crore by offloading a 15% stake in the company to VFSI Holdings, the company said in an exchange filing on Thursday.

Price as on 09 Sep, 2022 09:57 AM, Click on company names for their live prices.

Bitcoin nears $20,000; Solana, Polkadot and Avalanche gain up to 7%

Buy or Sell: Stock ideas by experts for September 09, 2022

The government will acquire a stake in debt-ridden telecom firm after the stock price of the company stabilises at Rs 10 or above. Vodafone Idea board has offered a stake to the government at a par value of Rs 10 per share. The finance ministry had cleared the proposal to acquire stake in VIL in July.

Price as on 09 Sep, 2022 09:50 AM, Click on company names for their live prices.

Rupee rises 8 paise to 79.61 against US dollar in early trade

Rupee rises 8 paise to 79.61 against US dollar in early trade

Rain Industries temporarily shuts Europe operating unit; stock falls 4%

Price as on 09 Sep, 2022 09:49 AM, Click on company names for their live prices.

IT rally; large caps and midcaps shine

Price as on 09 Sep, 2022 09:48 AM, Click on company names for their live prices.

Most active stocks on NSE in opening deals

Price as on 09 Sep, 2022 09:38 AM, Click on company names for their live prices.

All sectors gain in opening deals! Metals lead gainer

All sectors gain in opening deals! Metals lead gainer

Sea of green… all index stocks trade higher

Sea of green... all index stocks trade higher

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