Market Highlights, Sept 20: Sensex up 1360pts, ends above 84,500; Nifty near 25,800 amid broad gains
Stock Market Highlights: Indian equity benchmark indices ended the week's last trading session at record high closing levels
 "Photo: Shutterstock")
Photo: Shutterstock
12:15 PM
Technically, Voda Idea stock has broken support at the key moving averages on the daily and the weekly scale. At present, the stock is seen testing support at its 50-MMA (Monthly Moving Average) at Rs 10.40 levels; below which the next key support stands at Rs 9.10. READ MORE
Stock Market LIVE Updates: Voda Idea can slide another 44%, if this support is broken; hints chart
Stock Market LIVE Updates: Shares of Voda Idea have plunged almost 25 per cent to a low of Rs 9.70 in just two trading sessions post the adverse Supreme Court ruling.
Technically, Voda Idea stock has broken support at the key moving averages on the daily and the weekly scale. At present, the stock is seen testing support at its 50-MMA (Monthly Moving Average) at Rs 10.40 levels; below which the next key support stands at Rs 9.10. READ MORE
12:03 PM
At 12 PM, the BSE Sensex was up by 951 points, or 1.14 per cent, at 84,136, while the Nifty 50 was at 25,702, up 286 points, or 1.13 per cent.
Stock Market LIVE Updates: 12 PM market update - Markets steady at record levels
Stock Market LIVE Updates: Indian equity benchmark indices were trading higher, after hitting fresh record highs on Friday, led by overnight gains in the US stock markets.
At 12 PM, the BSE Sensex was up by 951 points, or 1.14 per cent, at 84,136, while the Nifty 50 was at 25,702, up 286 points, or 1.13 per cent.
11:59 AM
Nevertheless, Fed is also not in a rush (again as per Powell) – then why the rush for 50 bp?.
So somewhere Fed is more worried about the labour market, more than persistent housing inflation or return of energy led inflation. Fed’s dot plot (SEP) says 50 bp more to come for this year (2 more policies left) and 100 bp in next year. Unemployment expected to go upto 4.4 per cent, while inflation expected to moderate closer to 2 per cent. Growth largely unchanged around 2 per cent.
Clearly if unemployment concerns are on the rise, so is growth. That left the market puzzled with reactions opposite to expectations – Dollar strengthens, US equities decline, and US treasuries also rise post policy.
However subsequently US equities have strengthened. So overall one can expect markets to remain volatile with central banks keeping the markets guessing on their move. On that note Bank of England and Bank of Japan kept policy rates unchanged (notably both had hiked earlier)."
Views By: Anitha Rangan, Economist at Equirus
Stock Market LIVE Updates: 'Expect markets to remain volatile with central banks keep markets guessing'
"While the debate on whether the move will be 25 or 50 bp has been answered, the move itself has left more questions than answers. The first being, if the economy is so strong (as Powell reiterated multiple times, why was there a need for 50 bp. May be to compensate for the cut they did not do in July.
Nevertheless, Fed is also not in a rush (again as per Powell) – then why the rush for 50 bp?.
So somewhere Fed is more worried about the labour market, more than persistent housing inflation or return of energy led inflation. Fed’s dot plot (SEP) says 50 bp more to come for this year (2 more policies left) and 100 bp in next year. Unemployment expected to go upto 4.4 per cent, while inflation expected to moderate closer to 2 per cent. Growth largely unchanged around 2 per cent.
Clearly if unemployment concerns are on the rise, so is growth. That left the market puzzled with reactions opposite to expectations – Dollar strengthens, US equities decline, and US treasuries also rise post policy.
However subsequently US equities have strengthened. So overall one can expect markets to remain volatile with central banks keeping the markets guessing on their move. On that note Bank of England and Bank of Japan kept policy rates unchanged (notably both had hiked earlier)."
Views By: Anitha Rangan, Economist at Equirus
11:51 AM
The purported creator of the chatbots told a security researcher, who alerted Reuters to the issue, that private details of millions of people were for sale and that samples could be viewed by asking the chatbots to divulge. READ MORE
Stock Market LIVE Updates: Hacker uses Telegram chatbots to leak data of Indian insurer Star Health
Stock Market LIVE Updates: Stolen customer data including medical reports from India's biggest health insurer, Star Health, is publicly accessible via chatbots on Telegram, just weeks after Telegram's founder was accused of allowing the messenger app to facilitate crime.
The purported creator of the chatbots told a security researcher, who alerted Reuters to the issue, that private details of millions of people were for sale and that samples could be viewed by asking the chatbots to divulge. READ MORE
11:43 AM
The Nifty Bank touched a fresh high of 53,559.35, against its previous record of 53,357, while the Financial Services index climbed to an all-time high of 24,643, compared to its previous record of 24,584.
The rally in Nifty Bank was supported by private banks, whose index Private Bank, tocuhed a fresh all-time high of 26,910.
The FMCG and Consumer Durables indices also touched fresh all-time highs, at 65,631 and 43,598, compared to their previous records of 65,616 and 43,578, respectively.
Stock Market LIVE Updates: 5 major sectoral indices hit fresh record highs, following frontline indices' lead
Stock Market LIVE Updates: Major indices, ranging from Bank and Financial Services to FMCG and Consumer Durables, climbed to fresh all-time highs, mirroring the rally in the frontline indices BSE Sensex and Nifty 50.
The Nifty Bank touched a fresh high of 53,559.35, against its previous record of 53,357, while the Financial Services index climbed to an all-time high of 24,643, compared to its previous record of 24,584.
The rally in Nifty Bank was supported by private banks, whose index Private Bank, tocuhed a fresh all-time high of 26,910.
The FMCG and Consumer Durables indices also touched fresh all-time highs, at 65,631 and 43,598, compared to their previous records of 65,616 and 43,578, respectively.
11:30 AM
While the Court's move is sentimentally negative, analysts believe a clear verdict removes a major overhang from the stock and provides visibility for road ahead for Vodafone Idea. READ MORE
Stock Market LIVE Updates: Vodafone Idea stock at Rs 2.5 or Rs 15? Analysts divided after AGR order
Stock Market LIVE Updates: The Supreme Court's dismissal of curative pleas filed by telecom companies, with regards to the computation of adjusted gross revenue (AGR), has invited mixed views from brokerages.
While the Court's move is sentimentally negative, analysts believe a clear verdict removes a major overhang from the stock and provides visibility for road ahead for Vodafone Idea. READ MORE
11:27 AM
The company, in an exchange filing, said, "Samvardhana Motherson Automotive Systems Group B.V. (an affiliate of MSSL Consolidated Inc., and indirect wholly-owned subsidiary of the company) has now completed aforesaid transaction (subscription of upto 36,39,010 Class A Ordinary shares of REE Automotive) on September 20, 2024."
The company added that Samvardhana Motherson Automotive Systems Group B.V. will hold 11 per cent stake in REE Automotive on a fully diluted basis.
Stock Market LIVE Updates: Samvardhana Motherson completes 11% stake acquisition in REE Automotive
Stock Market LIVE Updates: Samvardhana Motherson International today announced that it has completed the acquisition of an 11 per cent stake in REE Automotive.
The company, in an exchange filing, said, "Samvardhana Motherson Automotive Systems Group B.V. (an affiliate of MSSL Consolidated Inc., and indirect wholly-owned subsidiary of the company) has now completed aforesaid transaction (subscription of upto 36,39,010 Class A Ordinary shares of REE Automotive) on September 20, 2024."
The company added that Samvardhana Motherson Automotive Systems Group B.V. will hold 11 per cent stake in REE Automotive on a fully diluted basis.
11:17 AM
Mankind Pharma, via an exchange filing said, a meeting of board of directors of the company will be held on September 20, 2024, inter-alia to consider and approve the raising of funds by way of issue of non-convertible debentures (NCDs), commercial papers, other debt securities or any other security or any combination thereof for an amount as may be decided by the Board. READ MORE
Stock Market LIVE Updates: Mankind up 7% ahead of board meet for fund raising; m-cap tops Rs 1 trn
Stock Market LIVE Updates: Shares of pharmaceutical company Mankind Pharma hit a new high of Rs 2,596, as it surged 7 per cent on the BSE in Friday’s intra-day trade amid heavy volumes ahead of board meeting today to consider raising funds.
Mankind Pharma, via an exchange filing said, a meeting of board of directors of the company will be held on September 20, 2024, inter-alia to consider and approve the raising of funds by way of issue of non-convertible debentures (NCDs), commercial papers, other debt securities or any other security or any combination thereof for an amount as may be decided by the Board. READ MORE
11:04 AM
At 11 AM, the BSE Sensex was up by 885 points, or 1.06 per cent, at 84,070, while the Nifty 50 was at 25,672, up 256 points, or 1.01 per cent.
Stock Market LIVE Updates: 11 AM market update - Markets at record high
Stock Market LIVE Updates: Indian equity benchmark indices were trading higher, after hitting fresh record highs on Friday, led by overnight gains in the US stock markets.
At 11 AM, the BSE Sensex was up by 885 points, or 1.06 per cent, at 84,070, while the Nifty 50 was at 25,672, up 256 points, or 1.01 per cent.
11:00 AM
Stock Market LIVE Updates: Reliance Infra jumps on debt reduction, fundraising plan; up 48% in 4 days
Stock Market LIVE Updates: Reliance Infrastructure (R-Infra) share price rallied 12 per cent to Rs 320 on the BSE in Friday's intraday trade, hitting the highest level since January 2019.
The spurt in R-Infra shares came after the company's board, on Thursday, approved a preferential issue to raise Rs 3,014 crore through the issuance of up to 125.6 million equity shares at a price of Rs 240 per share.
The spurt in R-Infra shares came after the company's board, on Thursday, approved a preferential issue to raise Rs 3,014 crore through the issuance of up to 125.6 million equity shares at a price of Rs 240 per share.
R-Infra said the preferential issue will enhance the company's net worth from Rs 9,041 crore to over Rs 12,000 crore. The company has near zero debt. READ MORE
10:44 AM
Stock Market LIVE Updates: Ashok Leyland's bank facilities, NCDs upgraded by CARE Ratings
Stock Market LIVE Updates: Ashok Leyland today announced that CARE Ratings has upgraded the ratings and outlook on its long- and short-term bank facilities worth Rs 4,000 crore, and NCDs worth Rs 200 crore, apart from reaffirming the rating and outlook of commercial papers worth Rs 2,000 crore.
Details are given below:
10:30 AM
The Teaming Agreement involves leveraging BEL and Reliasat’s capabilities in the space domain.
Stock Market LIVE Updates: BEL signs deal with Canada-based Reliasat to enter the space domain
Stock Market LIVE Updates: Bharat Electronics Limited (BEL), a Navaratna Defence PSU, today annoucned that it has signed a teaming agreement with Reliasat Inc. Canada to collaborate in the area of space products, according to PSU Connect.
The Teaming Agreement involves leveraging BEL and Reliasat’s capabilities in the space domain.
10:18 AM
The company, in an exchange filing, said, it has secured new orders worth Rs 341 crore in Q1FY25, and orders worth Rs 293 crore in Q2FY25 till 14 September 2024.
The company’s order book as on September 14, 2024, stood at Rs 1,350 crore, it added.
Stock Market LIVE Updates: Interarch Building secures new orders worth Rs 293 crore in Q2FY25
Stock Market LIVE Updates: Interarch Building Products, a leading player in the Pre-Engineered Building (PEB) Industry, today announced that the company has secured new orders worth Rs 633.5 crore in this financial year.
The company, in an exchange filing, said, it has secured new orders worth Rs 341 crore in Q1FY25, and orders worth Rs 293 crore in Q2FY25 till 14 September 2024.
The company’s order book as on September 14, 2024, stood at Rs 1,350 crore, it added.
10:11 AM
Arkade Developers IPO received a favourable response from investors, getting oversubscribed by 106.83 times. The quota reserved for Retail Individual Investors (RIIs) got subscribed 51.39 times, as per the NSE data.
Western Carriers (India) IPO, on the other hand, got subscribed 30.57 times by the final day of subscription, with Retail Individual Investors (RIIs) bidding for 25.95 times, as per the NSE data. READ MORE
Stock Market LIVE Updates: IPO allotment today: Check status for Arkade Developers, Western Carriers
Stock Market LIVE Updates: The basis of allotment for the Arkade Developers IPO, and Western Carriers (India) IPO is expected to be finalised today, following the closure of their public issues yesterday.
Arkade Developers IPO received a favourable response from investors, getting oversubscribed by 106.83 times. The quota reserved for Retail Individual Investors (RIIs) got subscribed 51.39 times, as per the NSE data.
Western Carriers (India) IPO, on the other hand, got subscribed 30.57 times by the final day of subscription, with Retail Individual Investors (RIIs) bidding for 25.95 times, as per the NSE data. READ MORE
10:02 AM
At 10 AM, the BSE Sensex was up by 557 points, or 0.67 per cent, at 83,742, while the Nifty 50 was at 25,585, up 170 points, or 0.67 per cent.
Stock Market LIVE Updates: 10 AM market update
Stock Market LIVE Updates: Indian equity benchmark indices were trading higher on Friday, led by overnight gains in the US stock markets, which was also driving other Asian markets up.
At 10 AM, the BSE Sensex was up by 557 points, or 0.67 per cent, at 83,742, while the Nifty 50 was at 25,585, up 170 points, or 0.67 per cent.
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First Published: Sep 20 2024 | 7:43 AM IST
