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
Stock Market Highlights, Friday, September 20, 2024: Indian benchmark indices, the BSE Sensex, and NSE Nifty50, surged to historic highs, ending with gains of over 1 per cent each, as they wrapped up the week in sync with the global market rally.
The Sensex added as much as 1,359.51 points or 1.63 per cent to settle at 84,544.31. The index scaled a record high of 84,694.46 during intraday trade.
Mirroring the Sensex, Nifty50 touched an all-time high of 25,849.25 before ending Friday's session with a gain of 375.15 points or 1.48 per cent at 25,790.95.
The day ended in favor of the bulls, as 44 out of 50 constituent stocks on Nifty50 ended higher with gains led by Mahindra & Mahindra, ICICI Bank, JSW Steel, Larsen & Toubro, and Cola India, of up to 5.3per cent each. Conversely, Grasim Industries, SBI, and NTPC were among the six stocks that ended in the red on Friday.
Broader indices, too, ended in the green, in tune with the benchmark, as the Nifty Midcap 100 index rose 1.44 per cent, and the Nifty Smallcap 100 index gained 0.98 per cent on Friday.
All sectoral indices, barring Nifty PSU Bank, ended in positive territory on Friday. The Nifty Realty index outperformed others, ending 3.05 per cent higher, while Bank Nifty, Financial Services, Auto, FMCG, Metal, and Private Bank indices posted gains of over 1 per cent each."
4:01 PM
Stock Market Comment: 'The short term trend of Nifty is sharply positive'
A long bull candle was formed on the daily chart, which indicates a decisive upside breakout in the market. The Nifty has broken above the range as well as the trend line resistance around 25,500 levels.
On the weekly chart, the Nifty has formed a reasonable bull candle that has surpassed the congestion area of the last three weeks around 25,300-25,500 levels and closed higher.
The short term trend of Nifty is sharply positive. Having surged up in one session on Friday, there is a possibility of consolidation/breather pattern in the short term, before moving up further.
Next upside targets, as per Fibonacci extension, are around 26,250. Immediate support is at 25,650.
Views by: Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
Views by: Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities
3:49 PM
Stock Market Comment: What all happened in the markets today?
The Indian market has joined the rally following the 50bps Fed rate cut and super accommodative monetary policy. It is expected to bring positivity to the economy and foreign inflows in the short to medium-term as the global economy continues to be robust. Traction is on rate sensitive sectors like Auto & Finance. Conventional sectors like FMCG are also performing well in anticipation of good results led by the dual benefit of demand and reduction in input cost.
Views by: Vinod Nair, Head of Research, Geojit Financial Services
Views by: Vinod Nair, Head of Research, Geojit Financial Services
3:45 PM
Rupee Closing: Rupee strengthens further versus US dollar
>> Rupee gains 11 paise, ends at 83.57 per US dollar
3:44 PM
Stock Market Closing Bell LIVE Updates: Realty index climbs 3%, Nifty Bank ends near 53,800
>> Nifty Bank index hit record high of 54,066.10 during the day, crossing 54,000 for the first time
>> Nifty Bank ended 1.4% higher
>> Nifty Auto jumped around 2% today, while Metal index climbed 1.6%
> Nifty Realty index soars 3% on the NSE
>> Nifty Bank ended 1.4% higher
>> Nifty Auto jumped around 2% today, while Metal index climbed 1.6%
> Nifty Realty index soars 3% on the NSE
3:41 PM
Stock Market Closing Bell LIVE Updates: MidCap index rises in tandem with benchmarks
>> Nifty MidCap index rises 1.4% on Friday
>> Nifty SmallCap index gains 0.98%
>> Markets saw broad-based gains despite VIX rising over 2%
>> Nifty SmallCap index gains 0.98%
>> Markets saw broad-based gains despite VIX rising over 2%
3:39 PM
Stock Market Closing Bell LIVE Updates: Only 2 stock saw mild losses on Sensex today
>> SBI, Bajaj Finance end up to 0.7% lower on the Sensex today
>> M&M, ICICI Bank, JSW Steel, L&T, Bharti Airtel, Nestle India, Adani Ports, HUL, and Kotak Bank settle as top Sensex gainers today, Friday, Sept 20
>> M&M, ICICI Bank, JSW Steel, L&T, Bharti Airtel, Nestle India, Adani Ports, HUL, and Kotak Bank settle as top Sensex gainers today, Friday, Sept 20
3:37 PM
Stock Market Closing Bell LIVE Updates: Nifty jumps nearly 400 pts on Friday
>> Fri-yay for markets as NSE Nifty50 shuts shop at 25,790.95, up 375.15 points or 1.48%
>> Bulls took Nifty50 to record high levels of 25,849.25 during the day
>> Bulls took Nifty50 to record high levels of 25,849.25 during the day
3:35 PM
Stock Market Closing Bell LIVE Updates: Bulls charge on D-St! Sensex soars over 1,300 pts
>> BSE Sensex ends at 84,544.31 on the BSE, up 1359.51 points or 1.63% today
>> BSE Sensex hits a record high of 84,694.46 in the intraday trade
>> BSE Sensex hits a record high of 84,694.46 in the intraday trade
3:26 PM
Stock Market LIVE Updates: HUL hits new high, market cap touches Rs 7 trillion
In the April to June quarter (Q1FY25), HUL delivered a robust performance with an underlying volume growth (UVG) of 4 per cent. Underlying sales growth (USG) was 2 per cent due to the impact of price reductions taken during the year as the company passed on benefits of lower commodity prices to consumers. The management remains confident of the medium to long term potential of the Indian FMCG sector. READ MORE
3:15 PM
Stock Market LIVE Updates: From auto to banks to IT: Analysts pick top sectors after US Fed rate cut
"This is the right time to park some funds in the bank, real estate, and auto sector as a whole from a medium to long term view as markets will, now, price-in lower interest rates in India as well," said Vikas Sethi, managing director, Sethi Finmart. READ MORE
3:00 PM
Stock Market LIVE Updates: CARE Ratings downgrades IIFL Finance's long-term instruments to
The rating agency, in a statement placed on its website, said the assets under management (AUM) of IFL’s gold business shrunk to Rs 14,727 crore as of June 30, 2024, from Rs 23,354 crore as of March 31, 2024, due to the RBI’s restrictions on the gold business. This has led to a moderation in the financial flexibility of the group and affected the profitability of the company and its liability franchise. Gold loan AUM constituted 72 per cent of IIFL’s standalone AUM and 21 per cent of the consolidated AUM as of June 30, 2024. READ MORE
2:45 PM
Stock Market LIVE Updates: Wonderla Holidays in focus
Stock Market LIVE Updates: Wonderla Holidays expands footprint with opening of Bhubaneswar Park.
Source: BSE
Source: BSE
2:43 PM
Stock Market LIVE Updates: Axis Capital to explore legal remedies against Sebi's ban on debt segment
Stock Market LIVE Updates: Axis Capital on Friday said it is exploring legal remedies against markets regulator Sebi's order restraining the firm from taking up new assignments as a merchant banker for the debt segment. READ MORE
2:36 PM
Stock Market LIVE Updates: BSNL adds 2.9 mn users after telecom rivals hiked tariffs in July
Stock Market LIVE Updates: After losing subscribers for more than two years, state-owned telecom company BSNL added 2.9 million users in July when its private sector rivals raised tariffs. The company had lost 0.74 million users in June, according to data provided by the telecom regulator. The three private sector telecom operators, Reliance Jio, Bharti Airtel and Vodafone Idea (Vi), raised tariffs in the first week of July. BSNL, which is in losses, did not. READ MORE
2:28 PM
Stock Market LIVE Updates: Nippon Steel to sell $211 mn in assets to manage debt amid US Steel deal
Stock Market LIVE Updates: Nippon Steel plans to sell at least 30 billion yen ($211 million) in assets in this fiscal year to manage its debt, the Nikkei quoted its vice chairman as saying on Friday, as it waits to know the fate of its $14.9 billion bid for US Steel. READ MORE
Topics : MARKET WRAP MARKET LIVE MARKETS LIVE Share price share market Markets Sensex Nifty S&P BSE Sensex stock market trading Global stock markets Indian stock market Asian markets US markets Indian markets Nifty50 Nifty 50 BSE benchmark index benchmark indices Stock market high stock market bulls stock market rally
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First Published: Sep 20 2024 | 7:43 AM IST
