Sensex ends above 60,000; Nifty at 17,853; Metal stocks slide, IT shines

Stock market Live: The Nifty Realty rose nearly 3 per cent, while Nifty IT was up 1.6 per cent

12:45 PM

Sensex @ 60,000: Time to rejig portfolio and buy the dips, say analysts

The 30-share Sensex index scripted history on Friday as it breached the 60,000 mark for the first time. The BSE barometer hit an all-time high of 60,333 and took just 91 sessions to climb the latest 10,000-points rally. READ MORE

12:32 PM

Hold tight! Dizzying bull run can push Sensex to 63,000

The benchmark BSE Sensex index crossed another milestone of 60,000-mark on Friday on the back of sustained FII inflows and decline in Covid-19 cases. The market momentum has been so strong that the BSE index gained its last 5,000 points in mere 28 trading sessions. READ MORE

12:28 PM

Caplin Point's CRO Amaris Clinical completes US FDA auddit with nil observations

>> Chairman C. C. Paarthipan commented: It is an excellent milestone for our group, and shows our commitment to maintaining the highest standards of quality and compliance at all our units.

 

>> Amaris will facilitate cost effective and quicker foray into newer geographies we plan to expand, where BA/BE studies are required for product approvals. 

 

12:19 PM

ALERT :: Finance Ministry removes expenditure restrictions

>> Finance Ministry removes restriction on spend at 20% of budget estimates

>> Central Ministries can now spend as per approved plans

>> Govt want central ministries to push capital expenditure

12:10 PM

BSE Realty index rises over 2% supported by Oberoi Realty, Mahindra Lifespace, DLF and Prestige Estate

11:53 AM

Sensex hitting 60k is a reminder of equity power, says Dhiraj Relli, MD & CEO of HDFC securities

11:50 AM

Indus Towers rallies 10%, hits over 2-year high; Vodafone Idea up 9%

Shares of Indus Towers hit an over two-year high of Rs 305.65 as they rallied 10 per cent on the BSE in Friday’s intra-day trade. The stock of the tower infrastructure services provider was trading at its highest level since April 2019. In the past seven trading days, it has surged 25 per cent after the government announced reforms in the telecom sector, which have increased Vodafone Idea’s going concern visibility. READ MORE

11:43 AM

'Market euphoria may extend till Jan-Feb'

The sentiment on D-street is bullish. A dip of a couple of per cent would be a good opportunity for traders and investors to enter. The euphoria in the market is likely to continue. It may extend till January-February 2022. Though the volatility is likely to witness an uptick.  I believe the stocks ranking higher in terms of outperformance will continue to shine. But traders and investors need to keep in mind the margin of safety in these stocks because their support levels are very deep.

-- Brijesh Bhatia-Senior Research Analyst of Equitymaster

 

11:36 AM

ALERT :: IRCON International wins bid to set up 500 MW solar power plant

>> The approximate cost of the project is Rs 2,400 crore

11:25 AM

MARKET VIEW | Rahul Sharma, Director, Head - Technical & Derivative Research at JM Financial Services

Nifty is expected to reach 50% of its Fibonacci extension (18,111) of the second leg of the rally which began from April 2021. Market Internals, Breadth & Thrust have been robust but expect some profit booking around the 18,100 mark. Buy the Dip is the mantra for fresh entry as supports are expected at 17,650 & 17,300. Banknifty can post another breakout above 38,100 for a possible target of 40,000 in October series. We remain positive on Telecom, Auto & Private Banks. 

11:19 AM

BUZZING :: Asian Paints rises over 4% in trade

>> The stock hit 52-week high levels of 3,505

11:05 AM

Structural bull-run in Indian stock market remains intact: Chris Wood

Even as local authorities rush to cushion the fall of Evergrande Group – China’s second largest property developer by sales – that can create a flutter across global financial markets, Christopher Wood, global head of equity strategy at Jefferies suggests that the structural bull-market in India remains intact. He has hiked stake in Bajaj Finance in his Asia ex-Japan long only portfolio by 1 percentage point (ppt). Wood had bought a stake in the company earlier this month. READ MORE

 

11:05 AM

VIEW: Intermittent volatility likely but positive momentum to continue

Equity market today had a historical day with Sensex touching 60,000 for the first time driven by large caps with many index heavyweights touching new highs. The rally in domestic market is driven by positive global cues, strong inflows by FIIs/DIIs, good corporate earnings, falling Covid-19 cases, upbeat corporate commentaries and low cost of capital. Amid the buoyant sentiment and increased activity, valuations has reached elevated levels and demand consistent delivery on earnings expectations. Given rich valuations, one cannot ignore intermittent volatility – however we expect the positive momentum to continue on the back of improving economic activity and recovery in corporate earnings.

-- Motilal Oswal, MD & CEO, Motilal Oswal Financial Services

10:55 AM

Bharti Airtel up 3%, hits new high ahead of ex-date for rights issue

Shares of Bharti Airtel hit a new high of Rs 747.6, up 3 per cent on the BSE in Friday’s intra-day trade ahead of ex-date for rights issue on Monday, September 27, 2021. The company’s Rs 21,000-crore rights issue will remain open for subscription between October 5 and October 21. READ MORE

 

10:49 AM

ALERT :: Zydus Cadila gets US FDA nod for psoriasis drug Apremilast tablets

>> Zydus’ Apremilast Tablets are indicated for the treatment of adult patients with moderate to severe plaque psoriasis who are candidates for phototherapy or systemic therapy
 

>> The drug will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad