Sensex up 173 pts on Nomura upgrade, Nifty tops 19,700; all but banks gain

Closing Bell on September 27, 2023: Among sectors, most of the key indices settled in the positive zone with the Nifty Pharma index gaining the most, up 1.2 per cent

9:03 AM

CURRENCY ALERT: Rupee opens at 83.22/$ vs Tuesday's close of 83.23/$

Flat start for Rupee.

8:59 AM

WATCH :: Is it time to bottom-fish in the stock market?

8:55 AM

MCA in talks with market regulator Sebi to allow issue of fractional shares

Fractional shares, mean a fraction instead of one whole share of a company. At present, Sebi and MCA regulations do not allow the issuance and holding of fractional shares.

 

A senior official said that Sebi has views on this issue since it impacts the listed companies and will soon be making a presentation to MCA. READ MORE

8:51 AM

Buy the dips in Nifty FMCG, Financials; here's why

Nifty FMCG
The 'buy on dips' strategy is particularly relevant in the current market conditions. It involves purchasing assets when their prices dip or approach support levels. This approach is based on the expectation that the price will rebound from these levels, potentially creating profitable trading opportunities. READ MORE

8:47 AM

Stocks to Watch: Infy, HealthCare Global, Suzlon, Century Tex

Infosys: The IT major is collaborating with Microsoft to jointly develop industry solutions by leveraging Infosys Topaz, Azure OpenAI Service and Azure Cognitive Services.

 

Cipla: The pharma company has launched drone-powered deliveries of critical medicines to hospitals and pharmacies across Himachal Pradesh in partnership with Skype Air Mobility. READ MORE

8:44 AM

Nifty needs to sustain above 19,550 for bullish bias to hold

The Nifty is trying to find support on an upward sloping trend line adjoining the swing lows of March 2023 and September 2023. 50 days EMA for the Nifty is currently placed at 19,553 odd levels. 

 

Indicators like RSI, MACD and DMI have been showing sign of weakness in the benchmark index. If we apply disparity index of 200 days EMA on Nifty, then we can observe the development of the negative divergence by that oscillator on the daily chart READ MORE

8:41 AM

Commodity in focus :: Brent crude testing $95/bbl yet again

8:38 AM

Fund Flow :: DIIs buy equities worth Rs 714.75 crore on Sept 26

8:35 AM

Fund Flow :: FIIs sell equities worth Rs 693.47 crore on Sept 26

8:32 AM

ALERT :: Gift Nifty quotes 56 points lower at 19,611

8:27 AM

ALERT :: Adani Ports commences tender offer to purchase 3.375% Senior Notes

>> Adani Ports and Special Economic Zone Limited announced that it has commenced a tender offer to purchase for cash up to $195,000,000 in aggregate principal amount of the outstanding 3.375% Senior Notes due 2024

>> The purpose of the tender offer is to partly prepay the company’s near-term debt maturities

8:23 AM

ALERT :: Mahindra Susten Private Limited gets approval to divest units of sustainable energy infra trust

>> MSPL receives approval for divestment of Units of Sustainable Energy Infra Trust (SEIT), the InvIT formed by MSPL and 2726522 Ontario Limited, an affiliate of 2OL as Sponsors,

>> This would aggregate up to R. 900 crore by way of Offer for Sale of Units as part of the proposed Initial Offer through Private Placement of Units of SEIT.

>> MSPL proposes to transfer its entire stake in its wholly owned subsidiaries viz. Mega Suryaurja Private Limited and Megasolis Renewables Private Limited (formerly known as Mahindra Renewables Private Limited) to SEIT

Click here for more

8:19 AM

Alibaba to list its logistics unit Cainiao

>> Alibaba plans to list its logistics unit Cainiao on the Hong Kong Stock Exchange, the Chinese e-commerce giant said in a regulatory filing on Tuesday.

>> Alibaba will continue to hold more than 50% of the shares of Cainiao after the spinoff.

>> Cainiao is the first of these businesses to officially file for an initial public offering (IPO). Alibaba said that there is “no assurance” that the proposed spinoff will take place.

 

>> Details re  yet to surface on the pricing of shares or on the expected listing date.

Source: CNBC

8:14 AM

Australian Aug inflation picks up as expected

>> Australia's inflation accelerated in August, although in-line with estimates, driven by a surge in fuel prices.

>> Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 5.2% in the year to August, in line with forecasts and up from 4.9% the previous month.

>> aAmeasure of core inflation eased further, lessening any immediate pressure for the central bank to hike interest rates again

>> Markets also slightly increased the bets for a fourth straight rate pause from the Reserve Bank of Australia next month to 92%, from 87% before.

Source: Reuters

8:10 AM

BREAKING :: China's central bank to use 'precise, forceful' policy to bolster recovery

>> China's central bank said on Wednesday it would step up policy adjustments and implement monetary policy in a "precise and forceful" manner to support the economic recovery.

 

>> The People's Bank of China (PBOC) will keep liquidity reasonably ample and maintain stable credit expansion, the bank said in a statement.

>> China will step up government investment and policy incentives to spur private investment and promote a recovery in prices from a low level,

 

>> The PBOC reaffirmed its stance of keeping the yuan stable and preventing the risk of currency overshooting.

 

>> The central bank also pledged to promote the healthy and stable development of the property market.

Source: Reuters