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
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Stock Market Highlights, Monday, September 23, 2024: Indian benchmark indices, the BSE Sensex and NSE Nifty50, surged to historic highs before settling at record closing high levels on Monday. The Sensex added as much as 384.30 points or 0.45 per cent to settle at 84,928.61. The index scaled a record high of 84,980.53 during intraday trade.
Mirroring the Sensex, Nifty50 touched an all-time high of 25,956, just 44 points shy of 26,000, before ending Monday's session with a gain of 148.10 points or 0.57 per cent at 25,939.05.
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 Company, of up to 3.66 per cent.
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 Company, of up to 3.66 per cent.
Conversely, Eicher Motors, ICICI Bank, Divi's Labs, Wipro, and IndusInd Bank were among the 16 stocks that ended in the red on Monday.
Broader indices, too, ended in the green, in tune with the benchmark, as the Nifty Smallcap 100 index rose 1.12 per cent, and the Nifty Midcap 100 index gained 0.84 per cent at close on Monday. The Nifty Midcap 100 index also scaled its all-time high of 60,759.45 during intraday trade on Monday.
From the BSE space, 20 out of 30 constituent stocks ended in the green, with the gains led by Mahindra & Mahindra, State Bank of India, Bharti Airtel, Kotak Mahindra Bank, and Hindustan Unilever, up to 3.29 per cent. Meanwhile, ICICI Bank, IndusInd Bank, and Asian Paints were among the 10 stocks that ended lower, with a loss of up to 1.25 per cent.
All sectoral indices, barring Nifty IT, ended in the green, with the Nifty PSU Bank index outperforming others. The Nifty PSU Bank index ended higher by 3.41 per cent on Monday.
3:57 PM
Tech View: Nifty signals further up move towards 26,000 mark
Nifty opened with gains and traded with a positive bias during the day to close with gains of 148 points. On the daily charts we can observe that the Nifty is rising steadily towards the upper end of the rising channel 26,000 – 26,100 zone. The divergence on the daily and hourly time frame momentum indicator is hinting towards caution however until there is specific evidence of a weakness on the price front, we shall continue to ride the upmove with a trailing stoploss mechanism which should be kept at 25,700.
Bank Nifty has witnessed follow-through buying interest after closing at an all-time high in the previous trading session. The bank Nifty is heading towards 55000. Intermediate pullbacks or intraday dips should be used as a buying opportunity. The support zone is now placed at 53350 – 53500 as per the principle of role reversal.
(Tech View: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas, for your reference.)
(Tech View: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas, for your reference.)
3:49 PM
Stock Market LIVE Updates: Euphoria from Fed rate cut continues to lift the market
The euphoria from the Fed rate cut continued to lift the domestic market. The benign input costs and an expectation of a change in stance by the RBI amid cuts by global banks will provide tailwinds to valuation. Though there is moderation in India PMI data, investors are anticipating that the wave of liquidity from FII may provide stability in the sentiment.
(Comment by: Vinod Nair, Head of Research, Geojit Financial Services.)
(Comment by: Vinod Nair, Head of Research, Geojit Financial Services.)
3:46 PM
Stock Market LIVE Updates: Bajaj Auto, M&M, ONGC gain 3% each on NSE
Bajaj Auto remained the top gainer on NSE ending 3.66 per cent higher, closely followed by M&M and ONGC gaining around 3 per each.
3:44 PM
Sectoral trends:: Nifty PSU Bank, Realty and Nifty Auto advance
The Nifty PSU Bank outperformed across sectors ending 3.41 per cent higher, followed by Nifty Realty, and Nifty Auto among others
3:41 PM
Stock Market LIVE Updates: Broader markets outperform benchmarks
Stock Market LIVE Updates: The broader indices outran benchmarks on Monday, with BSE SmallCap as well as BSE MidCap index closed 0.73 per cent higher each.
3:39 PM
Heatmap check: M&M, SBI top gainers on Sensex
M&M was the top gainer on Sensex at close on Monday, rising 3.18 per cent and was followed by SBI, Bharti Airtel and HUL among others.
3:36 PM
Closing Bell: Nifty finishes 148 points higher at 25,939
NSE's Nifty50 index, too, ended on a new all time closing high of 25,939 level, up 148 points or 0.57 per cent on Monday.
3:34 PM
Closing Bell: Sensex ends at fresh lifetime high of 84,928.61
The benchmark index BSE Sensex closed 384 points or 0.45 per cent higher at fresh record close of 84,928.61 level on Monday.
3:15 PM
At 02:40 pm; Amber was trading 15 per cent higher at Rs 4,991 a piece, as compared to 0.42 per cent rise in the BSE Sensex. The stock surpassed its previous high of Rs 4,880 that it touched on July 9, 2024. Read more
Stock Market LIVE Updates: Amber Enterprises zooms 19%, stock hits new peak on strong growth outlook
Shares of Amber Enterprises hit a record high of Rs 5,177.95, skyrocketing 19 per cent on the BSE in Monday’s intra-day trade on expectation of strong earnings growth. The company\, engaged in household appliances business is also likely to witness healthy revenue growth going ahead, driven by strong traction in the electronics manufacturing service (EMS) industry.
At 02:40 pm; Amber was trading 15 per cent higher at Rs 4,991 a piece, as compared to 0.42 per cent rise in the BSE Sensex. The stock surpassed its previous high of Rs 4,880 that it touched on July 9, 2024. Read more
3:02 PM
At 3:00 PM, the BSE Sensex was up 340 points, or 0.40 per cent, at 84,885, while the Nifty 50 was at 25,923, up 132 points, or 0.51 per cent
Stock Market LIVE Updates: 3 PM market update - Benchmarks at fresh record high
Stock Market LIVE Updates: Indian equity benchmark indices BSE Sensex and Nifty 50 were trading at record high levels on Monday.
At 3:00 PM, the BSE Sensex was up 340 points, or 0.40 per cent, at 84,885, while the Nifty 50 was at 25,923, up 132 points, or 0.51 per cent
2:50 PM
Stock Market LIVE Updates: Govt steps up buffer stock sale to control onion prices after duty removal
Stock Market LIVE Updates: The government has intensified its efforts to check onion prices by stepping up the sale of buffer stock in wholesale markets, following a spike in retail prices after the recent removal of export duty. Consumer Affairs Secretary Nidhi Khare on Monday said the Centre has begun offloading onions from its buffer stock in wholesale markets of Delhi and other key cities, with plans to expand subsidised retail sales nationwide. READ MORE
2:47 PM
Stock Market LIVE Updates: About 83% of Indian buyers will consider new energy vehicles by 2030, study reveals
Stock Market LIVE Updates: A recent survey shows strong interest of Indian consumers in new energy vehicles (NEVs), with as many as 83 per cent of respondents ready to accept new energy vehicles (NEV) as the only option when considering a purchase by the end of this decade. READ MORE
2:45 PM
Stock Market LIVE Updates: 'Rupee appreciated on Monday amid positive domestic markets'
-- Indian Rupee appreciated on Monday amid positive domestic markets with domestic equities hitting fresh all time highs.
-- However, Rupee lost initial gains on a strong American currency (US Dollar) and firm crude oil prices.
-- The US Dollar recovered on disappointing PMI data from France, Germany, Eurozone, and the UK. India's Services PMI fell to 58.9 in August VS 60.9 in July.
-- However, Rupee lost initial gains on a strong American currency (US Dollar) and firm crude oil prices.
-- The US Dollar recovered on disappointing PMI data from France, Germany, Eurozone, and the UK. India's Services PMI fell to 58.9 in August VS 60.9 in July.
-- We expect Indian Rupee to trade with a slight positive bias on positive global equities and fresh FII inflows.
-- However, a recovery in the greenback and elevated crude oil prices may cap sharp upside.
-- Investors may watch out for US GDP, consumer confidence and core PCE price index data from the US this week. We expect USDINR to trade in the range of 83.35-83.75
-- However, a recovery in the greenback and elevated crude oil prices may cap sharp upside.
-- Investors may watch out for US GDP, consumer confidence and core PCE price index data from the US this week. We expect USDINR to trade in the range of 83.35-83.75
Views by: Anuj Choudhary, research analyst, Sharekhan by BNP Paribas
2:39 PM
Stock Market LIVE Updates: myTVS launches Mobility-as-a-Service for last-mile EV fleet operators
Stock Market LIVE Updates: myTVS, India’s largest digital automotive aftermarket platform and part of the $3 billion TVS Mobility Group, on Monday announced the launch of its pan-India ‘Mobility-as-a-Service’ (MaaS) platform for last-mile electric vehicle (EV) fleet operators. READ MORE
2:34 PM
Stock Market LIVE Updates: Fresh formal hirings increase in July by 2.5% to 1.05 million, EPFO data finds
Stock Market LIVE Updates: The number of monthly fresh formal hirings increased in July, signalling a recovery in the formal labour market. In July, the number of new monthly subscribers under the Employees’ Provident Fund (EPF) increased by 2.6 per cent to 1.05 million from 1.02 in June, according to the latest monthly payroll data released by the Employees’ Provident Fund Organisation (EPFO) on Monday. 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
