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Monday, December 23, 2024 | 09:49 AM ISTEN Hindi

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HDFC Bank, ITC lift Sensex 100 pts on late buying; Nifty ends atop 19,600

CLOSING BELL ON SEPTEMBER 06, 2023: The Sensex gained 483 points from the day's low, with HDFC Bank, ITC and Bharti Airtel contributing 217 points to the BSE benchmark on Wednesday.

Image SI Reporter New Delhi
NSE, national stock exchange, nifty50

1:32 PM

Asian Market Update:: Major indices show tepid movement

chart
Source: Yahoo Finance

1:14 PM

Sebi's new cybersecurity guidelines: What it means and their implications

Capital markets regulator Sebi has issued guidelines to strengthen the existing cyber security and cyber resilience framework for stock exchanges and other market infrastructure institutions (MIIs), which comes into effect from immediate effect. READ
Sebi, Securities and Exchange Board of India
1:00 PM

Rice miller stocks in focus; KRBL, LT Foods soar 6% on positive biz outlook

Shares of rice miller and basmati rice exporters were in focus as they rallied up to 6 per cent on the BSE in Wednesday's intra-day trade, in an otherwise subdued market, on positive business outlook. In comparison, the S&P BSE Sensex was down 0.11 per cent at 65,710 at 12:14 PM. READ
Basmati Rice
12:43 PM

ALERT: SpiceJet allots 3.41 cr shares & 13.14 cr convertible warrants to promoter

>> SpiceJet has alloted 3.41 cr shares & 13.14 cr convertible warrants to Spice Healthcare (promoter entity) on a prefertial basis. 

>> Warrants can be converted to shares for a 15.3 per cent holding (if exercised), while the issued equity shares carry 5 per cent holding. 

>> With this, the promoter entity's stake has risen from 58.98 to 63.8 per cent (excluding warrants). 
12:30 PM

Digital disruptor brands likely to reach $10 billion by FY28: Report

Digital disruptor brands are projected to outpace the growth of the online fashion market, with a 35 per cent compound annual growth rate expected to reach $10 billion by 2027-28 (FY28), up from its current size of $2.4 billion.
 
Consumer preference for experimenting with new brands and the innovation from digital-first brands are driving this trend, according to a report by Bain & Company and TMRW House of Brands, an Aditya Birla Group venture. READ
Online shopping
12:17 PM

OPINION | Generic medicines: Indian pharma market is at crossroads of systemic shift

The National Medical Commission (NMC) – India’s apex medical regulator – created a stir when it recently mandated registered medical practitioners (RMPs) to prescribe only generic molecule names (GMP), i.e., without brand names, to patients. After subsequent deliberations among the government, NMC, Indian Medical Association (IMA) and industry bodies, this has been put in abeyance. However, in our view, the writing on the wall is clear: The question is not whether a shift to Gx-Gx will happen, rather, when will this shift happen. READ
pharmaceutical sector, pharma sector, medicines, meds
12:06 PM

Settle issues with creditor Celestial Aviation Services: NCLT asks SpiceJet

The National Company Law Tribunal (NCLT) on Tuesday suggested that SpiceJet settle the issues with lessors that have sought initiation of insolvency proceedings against it. The tribunal's suggestion came against the backdrop of the crisis-hit carrier issuing shares in lieu of dues to nine aircraft lessors. READ
The Delhi-bound SpiceJet airplane following its emergency landing after it caught fire mid-air, at Jai Prakash Narayan Airport, in Patna (Photo: PTI)
11:51 AM

Ambuja Cement Chief Project Officer KA Chowdary tenders resignation

KA Chowdary has resigned as Chief Projects Officer of Ambuja Cements effective September 8. 
11:39 AM

Snowman Logistics promoter buys 5.55 lakh additional shares via open market

via CNBC-TV18
11:28 AM

Six of eight funds used to invest in Adani Group stocks now closed: Report

Six of the eight public funds alleged to have been used by people with ties to the Adani Group to buy shares of the conglomerate's listed companies have been shut, Mint reported on Wednesday citing regulatory filings. These funds were based in Bermuda and Mauritius. READ
Adani Group
11:14 AM

RBI may extend incremental cash reserve ratio with tweaks: Bankers

The Reserve Bank of India (RBI) may ask lenders to continue maintaining additional cash reserves for two more fortnights, with some tweaks to the proportion, as it seeks to keep liquidity tight amid high inflation, at least six senior treasury officials told Reuters. READ
RBI, Reserve Bank of India
11:03 AM

LIC surges 4% on heavy volumes; stock hits over seven-month high

The stock of state-owned life insurer was quoting at its highest level since January 27, 2023. With today’s gain, the stock has recovered 30 per cent from its 52-week low of Rs 530.20 touched on March 29. It had hit a record high of Rs 918.95 on December 20, 2022. READ
Life Insurance Corporation
10:54 AM

OPINION: Sebi faces an uphill battle: Why 'finfluencers' will always find addicts

If the Securities and Exchange Board of India had hoped that its action would produce a chilling effect across the country’s fast-growing horde of unregulated financial influencers, that didn’t happen. Which is why the Indian regulator has now decided to go beyond  individuals. In a recently circulated consultation paper, it vowed to “disrupt the revenue model” of “finfluencers” by forcing all regulated entities to cut ties with them. READ
influencers, marketing, ads, advertising, product placement, sales, advertising, advertisements, digital content creators, social media

 
10:41 AM

Brent crude oil breezes past $90 a barrel; analysts see more upside

Saudi Arabia and Russia have announced a fresh extension to their voluntary supply cuts, amounting to a combined 1.3 million barrel per day (bpd) cut for another three months till December. READ
Crude oil
10:30 AM

MARKET VIEW: IT, Bank stocks to support market, but remain cautious of new global worries

For the near term, there are mixed cues for the market. The negative factors are the surprising strength of the dollar index at 104.86, the resilient bond yields in the US (the 10-year at 4.26), and now, the Brent crude at $90.

The spike in crude is a major macro concern. In this scenario, the FIIs are likely to continue selling in the cash market. On the positive side, the sustained DII buying is imparting strength to the market. DIIs have bought stocks worth Rs 5934 crores in the cash market during the last three trading days of September.

Retail also is buying, and this ‘ buy on dips’ strategy has worked. The rally in IT stocks has contributed to the resilience of the market. IT and the fairly valued banking stocks, particularly the leading private banks, have the potential to support the market. But investors have to be cautious about the headwinds, particularly the rising crude.

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

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First Published: Sep 06 2023 | 7:54 AM IST

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