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
 "bull market, rise, rally, sensex, share")
9:02 AM
Stock Market LIVE Updates: Nifty eyes 26k
Nifty outlook:
Friday’s large upsides, and upcoming expiry raises the possibility of Nifty heading into uncharted territories. While optimistic targets may be placed at 26600, the 25710 region will act as a crucial pivot from here on, as long as above which, we will be confident to play upsides aiming 25965-990 initially. Meanwhile, while a slippage below 25710 will deflate the day’s upsides hopes, it may require a break below 25475 to fully shift to downsides.
Derivative outlook:
Nifty weekly contract has highest open interest at 27000 for Calls and 25000 for Puts while monthly contracts have highest open interest at 27000 for Calls and 25000 for Puts. Highest new OI addition was seen at 29000 for Calls and 25700 for Puts in weekly and at 29000 for Calls and 25700 for Puts in monthly contracts. FIIs increased their future index long position holdings by 23.20 per cent, decreased future index shorts by 18.05 per cent and in index options by 29.69 per cent increase in Call longs, 45.73 per cent increase in Call short, 11.34 per cent increase in Put longs and 46.30 per cent increase in Put shorts
(View By: Anand James, Chief Market Strategist, Geojit Financial Services.)
(View By: Anand James, Chief Market Strategist, Geojit Financial Services.)
8:59 AM
Views By: Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd
Stock Market LIVE Updates: 'Nifty may see aggressive targets between 26,300-26,500, with support at 24,301'
Stock Market LIVE Updates: "Domestic benchmark indices are likely to mirror gains in the SGX Nifty index and see a firm opening. However, subdued trading in other Asian indices could limit the gains going ahead as investors would wait for cues from European indices in afternoon trades for further direction. While all bullish eyes will aim at the Nifty 26,000 mark with an interweek perspective, aggressive bulls may prefer to take a breather following last week’s Fed-fueled rally. Key US data during the week like the GDP growth numbers for the second quarter and Federal Reserve Chair Jerome Powell's Speech this Thursday, followed by US PCE inflation on Friday will be in focus. On the technical front, the Nifty may see aggressive targets between 26,300-26,500 zone with support at 24,301.
Views By: Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd
8:56 AM
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."
Views By: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Stock Market LIVE Updates: 'Nifty appears to be moving towards 26,000'
Stock Market LIVE Updates: "The charging bull got a shot of steroids from the Fed when it cut interest rates by 50bps on September 18. 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."
Views By: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
8:49 AM
The company, in an exchange filing, said Kanskar's appointment aims to leverage his extensive experience to enhance service delivery and client engagement.
Stock Market LIVE Updates: One Point One appoints Amol Kanskar as VP-Sales to drive public sector deals
Stock Market LIVE Updates: One Point One Solutions today announced the appointment of Amol Kanskar as Vice President of Sales, with an aim to focus on public sector deals.
The company, in an exchange filing, said Kanskar's appointment aims to leverage his extensive experience to enhance service delivery and client engagement.
8:46 AM
The company, in an exchange filing, said it has secured an order for Tunnel Ventilation system and associated works in India, apart from an order in the industrial segment for civil and mechanical works for a steel plant in India, along with orders for the supply of various types of cables in India and overseas.
Stock Market LIVE Updates: KEC International secures new orders worth Rs 1,003 crore across businesses
Stock Market LIVE Updates: RPG Group Company KEC International today announced that it has secured new orders worth Rs 1,003 crore across its railways, civil, and cables business.
The company, in an exchange filing, said it has secured an order for Tunnel Ventilation system and associated works in India, apart from an order in the industrial segment for civil and mechanical works for a steel plant in India, along with orders for the supply of various types of cables in India and overseas.
8:42 AM
The company, in an exchange filing, informed that with this consortium agreement coming in to force, "the corporate guarantees extended by GFL for the prior banking facilities availed by IWL stands vacated / to be vacated in the near future. "
Stock Market LIVE Updates: Gujarat Fluorochemicals' guarantee to Inox Wind to fall off
Stock Market LIVE Updates: Gujarat Fluorochemicals (GFL) today announced that it has received an intimation from Inox Wind regarding the signing of a consortium agreement, for its banking facilities between IWL and a group of banks led by ICICI Bank.
The company, in an exchange filing, informed that with this consortium agreement coming in to force, "the corporate guarantees extended by GFL for the prior banking facilities availed by IWL stands vacated / to be vacated in the near future. "
8:36 AM
The company, in an exchange filing, said, "We wish to inform that a new branch of the Company located at 'Kovilpatti, Tamil Nadu' commences its operation with effect from September 23, 2024."
Stock Market LIVE Updates: Dr. Agarwal’s Eye Hospital starts new facility at Kovilpatti, Tamil Nadu
Stock Market LIVE Updates: Dr. Agarwal’s Eye Hospital today announced that its new facility located at Kovilpatti, Tamil Nadu has begun operations.
The company, in an exchange filing, said, "We wish to inform that a new branch of the Company located at 'Kovilpatti, Tamil Nadu' commences its operation with effect from September 23, 2024."
8:33 AM
This limit is likely to be enhanced further to approximately Rs 2,400 crore as per the working capital assessment done by the lead bank (ICICI Bank).
The limits extended are largely non-fund based bank guarantees (BGs) and letter of credits (LCs), the company said in an exchange filing.
The limits have been sanctioned on the financial strength of IWL’s balance sheet and without the requirement of any corporate guarantees or any other support from Gujarat Fluorochemicals Ltd. (GFL), the company added.
With this arrangement in place, any prior corporate guarantee or any other such support extended to IWL by GFL stands vacated / to be vacated in the near future, the company said in its exchange filing.
Stock Market LIVE Updates: Inox Wind secures credit facility of around Rs 2,200 crore from consortium of banks
Stock Market LIVE Updates: Inox Wind today announced that it has signed a consortium agreement with a group of banks led by ICICI Bank for limits of around Rs 2,200 crore.
This limit is likely to be enhanced further to approximately Rs 2,400 crore as per the working capital assessment done by the lead bank (ICICI Bank).
The limits extended are largely non-fund based bank guarantees (BGs) and letter of credits (LCs), the company said in an exchange filing.
The limits have been sanctioned on the financial strength of IWL’s balance sheet and without the requirement of any corporate guarantees or any other support from Gujarat Fluorochemicals Ltd. (GFL), the company added.
With this arrangement in place, any prior corporate guarantee or any other such support extended to IWL by GFL stands vacated / to be vacated in the near future, the company said in its exchange filing.
8:28 AM
At a recent event, a senior official from the Securities and Exchange Board of India recommended that the Indian Reits Association come up with catchy taglines, such as ‘Reits Right Hai’, ‘Reits Bhi Sahi Hain’, and ‘Know Your Reits’, in an effort to replicate the success of ‘MFs Sahi Hai’ by the Association of Mutual Funds in India. READ MORE
Stock Market LIVE Updates: Street signs: Reits reborn, investment fast track, global money in motion
Stock Market LIVE Updates: With data benchmarking institutions established for the analysis and comparison of real estate investment trusts (Reits), the market regulator now wants the industry to follow the example of mutual funds (MFs) in its promotions.
At a recent event, a senior official from the Securities and Exchange Board of India recommended that the Indian Reits Association come up with catchy taglines, such as ‘Reits Right Hai’, ‘Reits Bhi Sahi Hain’, and ‘Know Your Reits’, in an effort to replicate the success of ‘MFs Sahi Hai’ by the Association of Mutual Funds in India. READ MORE
8:24 AM
Stock Market LIVE Updates: FPIs pump Rs 33,700 cr in Indian equities in Sept amid US rate cut
Stock Market LIVE Updates: Foreign investors have injected close to Rs 33,700 crore in domestic equities in this month so far primarily due to interest rate cut in the US and resilience of the Indian market.
This also marks the second highest inflow in a month in this year so far, the last one being in March, when Foreign Portfolio Investors (FPIs) infused Rs 35,100 crore, data with the depositories showed. READ MORE
8:23 AM
Puneet Wadhwa caught up withSANDEEP BHATIA, managing director and head of equity India at Macquarie Capital in Mumbai, to discuss his views on the road ahead for global equity markets.
There is a notable shift in global perception of India, he said, as it is now seen as a rising star, reflecting growing international admiration. READ MORE
Stock Market LIVE Updates: India's one of the most crowded trades for FIIs, says Sandeep Bhatia
Stock Market LIVE Updates: With the US Federal Reserve’s (Fed’s) meeting outcome now known, all eyes are on the Reserve Bank of India to cut rates.
Puneet Wadhwa caught up withSANDEEP BHATIA, managing director and head of equity India at Macquarie Capital in Mumbai, to discuss his views on the road ahead for global equity markets.
There is a notable shift in global perception of India, he said, as it is now seen as a rising star, reflecting growing international admiration. READ MORE
8:20 AM
Stock Market LIVE Updates: Stocks To Watch: HDFC Bank, Adani Total, Max Health, IIFL Finance, APSEZ
Stock Market LIVE Updates: The board of HDB Financial Services (HDBFS), a subsidiary of HDFC Bank, has approved a listing of equity shares, including a fresh issue of up to Rs 2,500 crore and an offer for sale (OFS) by existing shareholders. READ MORE
8:18 AM
The price movement has been backed by a noticeable increase in trading volumes, construing a robust sentiment in the counter. READ MORE
Stock Market LIVE Updates: Osho Krishan of Angel One recommends buying Marico & JSW Energy on Sept 23
Stock Market LIVE Updates: Marico has showcased a strong resurgence from the pivotal support of the previous breakout on the daily time frame chart and has soared to record-high levels.
The price movement has been backed by a noticeable increase in trading volumes, construing a robust sentiment in the counter. READ MORE
8:17 AM
Stock Market LIVE Updates: Sell Nifty50, MidCap Select on the rise; Check support & other levels here
Stock Market LIVE Updates: The Nifty 50 Index is currently showing a bullish trend on the charts, with the next resistance level at 26,000. Despite the positive outlook, technical indicators reveal that the index has entered an overbought zone.
This suggests that a phase of profit booking is likely, particularly on a rise or after the upcoming expiry. READ MORE
This suggests that a phase of profit booking is likely, particularly on a rise or after the upcoming expiry. READ MORE
8:16 AM
Stock Market LIVE Updates: Jigar S Patel of Anand Rathi suggests buying these stocks on September 23
Stock Market LIVE Updates: Recently, Adani Power broke through a key bearish trendline on the daily chart, suggesting a potential reversal in momentum from its previous downtrend.
Prior to this breakout, the stock had formed a double bottom pattern, a bullish reversal structure that indicates strong support and a potential shift in price direction. READ MORE
Prior to this breakout, the stock had formed a double bottom pattern, a bullish reversal structure that indicates strong support and a potential shift in price direction. READ MORE
Topics : MARKET WRAP MARKET LIVE MARKETS LIVE MARKETS TODAY stock market trading Markets Sensex Nifty S&P BSE Sensex Nifty50 Nifty 50 share market global stock market Indian stock market Indian stock markets Asia Markets US markets US market BSE benchmark index benchmark indices
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First Published: Sep 23 2024 | 7:52 AM IST
