Sensex ends above 59K, up 418 points; Nifty tops 17,600; ITC rallies 7%
RIL, ITC and bank stocks contributed to the gains on benchmarks while metals and IT names languished
3:35 PM
Sensex Heatmap :: IndusInd Bank, ITC, SBI steal the show
In the 30-pack index, 15 stocks closed in the red and 15 in the green. RIL, ITC and bank stocks contributed to the gains while metals and IT names languished
3:33 PM
CLOSING BELL :: Nifty50 vaults over 17,600
The Nifty gained 107 points to 17,626. It hit a new peak of 17,645 during the session.
3:32 PM
CLOSING BELL :: Sensex ends above 59,000 for the first time
The BSE barometer Sensex jumped 418 points to end above 59,000 mark for the first time at 59,141. It touched a new high of 59,204 in intra-day deals.
3:27 PM
Nifty Bank touches all time high of 37710 level
3:20 PM
RBI deputy governor Patra sees FY22 inflation at 5.7% or lower
The fall in retail inflation to 5.3% in August, which stayed within the Reserve Bank of India’s target range for two successive months, could lead the central bank to revise the inflation projection for the current financial year. In the August review of monetary policy, RBI revised its inflation projection for the current financial year upward to 5.7% from 5.1% projected in the June policy review. READ MORE
3:18 PM
Volatility Alert
India VIX climbs 4.7% to 14.4 level
3:12 PM
Global markets :: European stocks rise on Wall Street support, travel shares jump 3%
European stocks rose on Thursday as a rebound in travel stocks and overnight strength in Wall Street helped offset concerns about China's slowing economy that dragged down miners.
The pan-European STOXX 600 index rose 0.7%, bouncing off a six-week closing low hit in the previous session. Travel & leisure jumped 3.1% to break a four-day READ MORE
2:57 PM
PFC issues 300 million euro bonds for 7-year period in European market
"PFC successfully issued its maiden 300 million euros 7 year euro bond issuance on 13.09.2021. The pricing of 1.841 per cent achieved is the lowest yield locked in by an Indian issuer in the euro markets," the statement said. READ MORE
2:47 PM
Nifty @ 20,000 soon; avoid fresh buying
Markets have made new all-time high with Sensex touching the 59,000 marks for the first time. The rally is driven by various PLI schemes introduced by the government. Further, we expect the bank to perform well as they have not yet participated in the rally. Other than that, we don’t recommend any fresh buying at this level as markets have made a huge move in a short time.
We advise investors to keep strict stop loss to their positions. Some correction is required to get a good valuation to enter fresh in the market, but scenarios which we are witnessing along with the developments from Govt. shall surely keep us in a bull run, except if any global scenario changes take place.
We advise investors to keep strict stop loss to their positions. Some correction is required to get a good valuation to enter fresh in the market, but scenarios which we are witnessing along with the developments from Govt. shall surely keep us in a bull run, except if any global scenario changes take place.
Nifty short term target 18,000 and long term target 20,000. Sensex short-term target 60,500 and long term target 66,000
Views by: Rahul Sharma, Co-Founder, Equity99.
Views by: Rahul Sharma, Co-Founder, Equity99.
2:37 PM
SBI cuts home loan interest rate to 6.7%, waives processing fees
Country’s largest lender, State Bank of India, has launched a bouquet of festive offers on Thursday for prospective home loan customers. The offers are aimed to make home loans more affordable in the festive season. In a first-of-its-kind initiative, SBI offers credit score linked home loans at just 6.70%, irrespective of the loan amount. Earlier a borrower availing a loan greater than Rs 75 lakh, had to pay an interest rate of 7.15%. With the introduction of the festive offers, a borrower can now avail home loan for any amount at a rate as low as 6.70%. READ MORE
2:30 PM
'October could be a month of correction'
We are in a roaring and classical bull market where Nifty and Sensex continue to achieve new milestones and I believe this bull run may continue for the next 2-3 years even as intermediate correction or shakeout phases can't be ruled out. If we talk about the near-term outlook, then bullish momentum may continue in September month where Sensex can cross the psychological mark of 60,000. That said, I think we may see a correction thereafter, therefore, October could be a month of correction. Investors should remain invested in this bull run while they can come out of those stocks which have quality concerns. Those who are not comfortable after a massive rally can go through the SIP route to ride this bull run.
Views by: Santosh Meena, Head of Research, Swastika Investmart
Views by: Santosh Meena, Head of Research, Swastika Investmart
2:19 PM
9.5% growth projection for whole year seems on track: RBI Dy Governor Patra
“The analysis of inflation dynamics indicates that the easing of headline inflation from current levels is likely to be grudging and uneven”, Patra said. He said, currently, contribution to inflation is emanating from a narrow group of goods –items constituting around 20 per cent of the CPI are responsible for more than 50 per cent of inflation. But, the measures taken by the central government to mitigate the supply shock issues should provide some comfort. READ MORE
2:12 PM
EaseMyTrip expands international presence to Philippines, Thailand, and US
>> The company will operate through localized search engines and national subsidiaries which would also enhance the offerings and experience of customers from other countries
2:03 PM
Gold dips as dollar firms, investors eye clues on US Fed move
Gold prices eased on Thursday as a firmer dollar dented the metal's allure for holders of other currencies, while investors awaited the U.S. Federal Reserve's meeting for guidance on its timeline for stimulus withdrawal and interest rate hikes. READ MORE
1:57 PM
Nifty50 tops 17,600 level
Topics : MARKET LIVE Markets S&P BSE Sensex NSE Nifty Global Markets Wall Street Telecom stocks Hindustan Copper Zomato News SGX Nifty Midcap smallcap stocks
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First Published: Sep 16 2021 | 8:18 AM IST