Market Close Highlights, Sept 23: Sensex adds 384 pts; Nifty ends near 25,950; PSB index soars 3%

Stock Market Highlights: 34 out of 50 constituent stocks on Nifty50 ended higher with gains led by Bajaj Auto, Mahindra & Mahindra, ONGC, Hero MotoCorp, and SBI Life Insurance

9:48 AM

Stock Market LIVE Updates: DreamFolks sheds 2.6% on service disruptions at Adani-operated airports

Stock Market LIVE Updates: The lounge access provider is currently addressing service disruptions at Adani-operated airports. The company has reaffirmed its compliance with contractual obligations amid challenges.

As DreamFolks works to restore operations, it’s also expanding into highway lounges and other travel services.

 

9:43 AM

Stock Market LIVE Updates: Adani Energy Solutions up over 2% on robust outlook

Stock Market LIVE Updates: AESL is projected to experience significant growth, with expected pre-tax profit growth of 29 per cent over the next three years.

With a diversified portfolio including transmission, distribution, and smart metering, analysts forecast AESL's revenue to grow at a CAGR of 20 per cent from FY24 to FY27. 

 

9:40 AM

Stock Market LIVE Updates: Mankind Pharma pares gains; up 2.5% on plans to raise Rs 10,00 cr

Stock Market LIVE Updates: The pharmaceutical major plans to raise up to Rs 10,000 crore through non-convertible debentures and commercial papers to finance its recent acquisition of Bharat Serums and Vaccines. 

 

9:38 AM

Stock Market LIVE Updates: Adani Total Gas up 5% as it secures $315 in financing to expand CGD biz

Stock Market LIVE Updates: Adani Total Gas (ATGL) secured an initial financing of $315 million as part of a $375 million deal with international lenders to support its city gas distribution network expansion.

 

9:34 AM

Stock Market LIVE Updates: Vodafone Idea gains 9% as co signs $3.6 bn network supply deal with Nokia, Ericsson

Stock Market LIVE Updates: The company is facing financial challenges after a Supreme Court ruling on AGR dues. An unexpected meeting with investors is scheduled to address recent developments.

Vi has also entered a three-year, $3.6-billion deal with Nokia, Ericsson, and Samsung for network expansion, crucial for its 4G and upcoming 5G services.

 

9:31 AM

Stock Market LIVE Updates: Shriram Fin, Bharti Airtel, M&M advance on NSE

 Shriram Finance, Bharti Airtel, M&M advanced on NSE, while ICICI Bank, Hindalco and HCL Tech traded in red. 

9:29 AM

Stock Market LIVE Updates: Nifty Auto, Pharma lead sectoral trends

In sectors, Nifty Auto and Nifty Pharma gained by 0.80 per cent and 0.57 per cent followed by Nifty PSU bank and others. 

9:26 AM

Stock Market LIVE Updates: Broader markets in green

The broader indices were trading in green with BSE MidCap index adding 0.15 per cent and BSE SmallCap soaring 0.60 per cent.

9:24 AM

Stock Market LIVE Updates: Heatmap check

Bharti Airtel, M&M and SBI led the gains on Sensex, while HCL Tech and ICICI Bank were among top losers. 

9:23 AM

Stock Market LIVE Updates: Nifty scales to new peak at 25,903

NSE's Nifty50 soared to a fresh peak on Monday at 25,903 levels. 

9:20 AM

Stock Market LIVE Updates: Sensex soars to record high at 84,843

The benchmark index BSE Sensex climbed a fresh peak at open to 84,843 levels. 

9:14 AM

Stock Market LIVE Updates: Banking stocks may lead Nifty to fresh highs over 26k

The charging bull got a shot of steroids from the Fed when it cut interest rates by 50bp on September 18th. More than the rate cut, it was the Fed chief’s optimistic commentary that lifted the markets sharply. The signal from the Fed is that inflation is under control and the economy is unlikely to tip into recession. This message is positive for equities, positive for emerging markets and positive for India.

 

Nifty now appears to be moving to its next target of 26,000 which is only 210 points away. The move towards this target is likely to be led by the banking majors which are showing strong momentum. There are two factors favouring banking stocks now: one, the FIIs who were major sellers early this year have turned buyers and they are likely to buy more banking stocks which are even now fairly valued in this highly valued market. Second, the credit-deposit gap which has been impacting banks’ margins has started narrowing. In brief, accumulation is likely in banking stocks and this has the potential to push the market up.

(Comment by: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services)

 

 

9:11 AM

Stock Market LIVE Updates: Nifty at 25,872 in pre-opening trade

NSE's top 50 bluechip stocks index Nifty50 rose 81 points to 27,872 level in pre-open. 

9:08 AM

Stock Market LIVE Updates: Sensex settles over 100 points higher in pre-open

The benchmark index BSE Sensex soared around 106 points to 84,651 levels in pre-opening deals on Monday.

9:04 AM

Stock Market LIVE Updates: Rupee opens at Rs 83.47

Rupee opened at 83.47 rupees per dollar on Monday, appreciating by 10 paise.