Sensex ends choppy day 105 points higher; IT stocks lead; Financials weigh

CLOSING BELL: Among individual stocks, Tech M, IndusInd Bank, Infosys, HCL Tech, Maruti Suzuki, SBI, and TCS were the top large-cap winners

10:00 AM

COMMENT | A 75 bps US Fed rate hike this month will not surprise markets

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.

Views by V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

9:53 AM

Hatsun Agro surges 6% as SBI MF buys additional 0.7% stake

SBI Mutual Fund bought an additional 15.2 lakh shares or 0.7 percent stake in the company through open market transactions on September 6. With this, the mutual fund house increased stake in the company to 5.6 percent, up from 4.9 percent earlier.

9:49 AM

Vodafone off highs; reports say govt to pick stake after stock reaches Rs 10 apiece

The government will acquire its proposed stake in the company after its share price stabilises at Rs 10 or above, as per reports. The company's board has offered the stake to the government at a par value of Rs 10 per share.

9:46 AM

PNC Infratech adds over 2.5% on winning HAM project bid from NHAI

It has signed a concession agreement for a hybrid annuity mode project with the National Highways Authority of India (NHAI) for a bid project cost of Rs 1,458 crore.

9:43 AM

Alkem Labs gains 1% on US FDA nod for Tolvaptan

9:38 AM

Reliance Power slumps on 15% stake sale plan to VFSI Holdings

The company will raise Rs 933 crore through a private placement of shares to VFSI Holdings, an affiliate of investment firm Varde Partners. This would result in VFSI picking up a 15 per cent stake in the company.

 

9:35 AM

NTPC perks up on inking renewable energy supply pact with Indian Army

9:33 AM

SECTORS | Metal, PSB bank indices drive markets higher

9:30 AM

MIDCAP WINNERS | Bajaj Holdings, Clean Science lead

9:28 AM

BROADER MARKETS | Small-caps firmly outperform benchmarks

9:25 AM

NIFTY GAINERS | Shree Cement, Hindalco, JSW Steel additional winners

9:22 AM

NIFTY DRAGS | Only two index losers; BPCL down 0.5%

9:20 AM

HEATMAP | Banks lead gains; Powergrid solely weak

9:19 AM

OPENING BELL | Nifty jumps 100 points to reclaim 17,900

9:17 AM

OPENING BELL | Gap-up open for Sensex, opens 350 pts up