Stock Market Highlights, Sept 11: Sensex sheds 398pts; Nifty ends near 24,900; Banking, Auto drag
Stock Market Highlights: 34 out of 50 constituent stocks of Nifty50 ended lower, dragged by Tata Motors, ONGC, Wipro, L&T, and Adani Enterprises with losses of up to 5.73 per cent
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Stock Market Highlights on Wednesday, September 11, 2024: Benchmark equity indices, BSE Sensex, and NSE Nifty50 ended Wednesday's choppy session in the negative territory, dragged by weak global sentiments, and selling across sectors.
The BSE Sensex shed 398.13 points or 0.49 per cent to settle at 81,523.16. The index traded in the range of 81,423.14 to 82,134.95 on Wednesday.
Meanwhile, the NSE Nifty50 snapped its 2-session winning streak and dropped 122.65 points or 0.49 per cent to end at 24,918.45. The index traded in the range of 24,885.15 to 25,113.70 on Wednesday.
34 out of 50 constituent stocks of Nifty50 ended lower, dragged by Tata Motors, ONGC, Wipro, L&T, and Adani Enterprises with losses of up to 5.73 per cent. Meanwhile, Bajaj Auto, Asian Paints, Bajaj Finance, and Shriram Finance led the gains of up to 4.03 per cent among the other constituent stocks on the index.
Similarly, on the BSE, 20 out of 30 listed stocks of Sensex ended in the red, dragged by Tata Motors, NTPC, and Adani Ports with a fall of up to 5.77 per cent. Meanwhile, Asian Paints, Bajaj Finance, Sun Pharma, and Hindustan Unilever were among 10 stocks that ended with gains of up to 2.18 per cent.
Broader indices also settled lower, with the Nifty Smallcap 100 index down 0.81 per cent.
Among the sectoral indices, Nifty PSU Bank, Bank, Auto, Metal, and Realty indices ended in the red with losses of up to 1.75 per cent.
Among the sectoral indices, Nifty PSU Bank, Bank, Auto, Metal, and Realty indices ended in the red with losses of up to 1.75 per cent.
Meanwhile, Nifty FMCG defied the trend to eke out some gains, settling higher by 0.28 per cent, and maintaining its gain for the third consecutive session. The index hit a record high of 65,344.60 during intraday trade on Wednesday.
3:59 PM
Stock Market Tech View: 'Nifty, Bank Nifty to consolidate over next few sessions'
Nifty50
On the daily charts, we can observe that the Nifty has faced resistance from the zone of 25,100 – 25,150 where the hourly upper Bollinger band and the 61.82% Fibonacci retracement level is placed.
On the downside, support zone is placed at 24,800 – 24,750. The Bollinger bands are contracting suggesting rangebound price action over the next few trading sessions. The range of consolidation is likely to be 24,800 – 25,200.
On the daily charts, we can observe that the Nifty has faced resistance from the zone of 25,100 – 25,150 where the hourly upper Bollinger band and the 61.82% Fibonacci retracement level is placed.
On the downside, support zone is placed at 24,800 – 24,750. The Bollinger bands are contracting suggesting rangebound price action over the next few trading sessions. The range of consolidation is likely to be 24,800 – 25,200.
Bank Nifty
Bank Nifty witnessed a volatile weekly expiry and settled around 51,000. The structure suggests rangebound price action as we can observe contraction of Bollinger bands which points towards rangebound price action. Bank Nifty is likely to consolidate in the range 50,800 – 51,500 from short term perspective.
Views by: Jatin Gedia – Technical Research Analyst, Sharekhan by BNP Paribas
Views by: Jatin Gedia – Technical Research Analyst, Sharekhan by BNP Paribas
3:49 PM
Stock Market Comment: 'Sentiment remains cautious due to slowdown in China, ahead of US inflation'
The domestic market experienced a minor consolidation, in line with Asian peers, due to correction of commodity prices like crude, which has collapsed to $70.
Market sentiment remained cautious due to the slowdown in the Chinese economy. Investors await the release of the US CPI and domestic inflation data.
It is anticipated that US inflation will have an uptick in monthly data, while domestic inflation is expected to remain stable. Additionally, this muted trend was influenced by the BoJ’s indication of a potential rate hike if inflation remains elevated.
Views by: Vinod Nair, Head of Research, Geojit Financial Services
Market sentiment remained cautious due to the slowdown in the Chinese economy. Investors await the release of the US CPI and domestic inflation data.
It is anticipated that US inflation will have an uptick in monthly data, while domestic inflation is expected to remain stable. Additionally, this muted trend was influenced by the BoJ’s indication of a potential rate hike if inflation remains elevated.
Views by: Vinod Nair, Head of Research, Geojit Financial Services
3:45 PM
Rupee Closing: Rupee ends unchanged versus US Dollar
>> Rupee ends at 83.97 per US dollar on Wednesday, Sept 11
3:44 PM
Stock Market Closing Bell LIVE Updates: Mid, SmallCap indices slip half a percent each
>> BSE MidCap indec ends 0.52% lower, while the BSE SmallCap dips 0.57% today
3:42 PM
Stock Market Closing Bell LIVE Updates: Only Nifty FMCG index ends in green
>> Nifty FMCG, Pharma indices hit record highs intraday
>> Nifty FMCG hit record high of 65,344.60 during the day
>> Nifty Pharma index hit new high of 23,463.10 during the day
>> Nifty Auto, Media, Metal, PSU Banks, Realty indices fall over 1% each
>> Nifty FMCG hit record high of 65,344.60 during the day
>> Nifty Pharma index hit new high of 23,463.10 during the day
>> Nifty Auto, Media, Metal, PSU Banks, Realty indices fall over 1% each
3:38 PM
Stock Market Closing Bell LIVE Updates: Only 10 of the 30 Sensex stocks end higher
>> Only 10 Sensex stocks ended higher on Wednesday
>> Bajaj Finance, Asian Paints, Sun Pharma, HUL, HCL Tech, Bajaj Finserv, ITC, Axis Bank, Bharti Airtel, and Kotak Bank were the top Sensex gainers today, Sept 11
>> Tata Motors, NTPC, Adani Ports, L&T, SBI, JSW Steel, M&M, IndusInd Bank, and Titan were the top Sensex losers today
>> Bajaj Finance, Asian Paints, Sun Pharma, HUL, HCL Tech, Bajaj Finserv, ITC, Axis Bank, Bharti Airtel, and Kotak Bank were the top Sensex gainers today, Sept 11
>> Tata Motors, NTPC, Adani Ports, L&T, SBI, JSW Steel, M&M, IndusInd Bank, and Titan were the top Sensex losers today
3:35 PM
Stock Market Closing Bell LIVE Updates: Nifty ends below 24,950 on Wednesday
>> NSE Nifty50 settled at 24,918.45, down 122.65 points or 0.49%
3:34 PM
Stock Market Closing Bell LIVE Updates: Sensex reverses gains in late noon deals, ends lower
>> BSE SEnsex index ends at 81,523.16 levels on Wednesday, Sept 11, down 398.13 points or 0.49%
3:27 PM
Stock Market LIVE Updates: India VIX rises over 2%
>> Fear gauge, India VIX, was up 2.20 per cent at 13.36 level.
>> It hit an intraday high of 13.77 and a low of 11.33
>> It hit an intraday high of 13.77 and a low of 11.33
3:17 PM
Stock Market LIVE Updates: Bharat Electronics receives orders worth Rs 1,155 crore
>> Bharat Electronics Limited has secured an order worth Rs 850 crore. from Cochin Shipyard Limited (CSL) for the supply of indigenous Multi Function Radar in X Band.
>> Additionally, BEL has secured orders valued at Rs 305 crroe following the last disclosure on August 22, 2024, which include navigational complex system for ships, thermal imagers, communication equipment, fire control system, gun control system, spares, services, etc.
>> With these orders, BEL has now accumulated orders totaling Rs 7,075 crore in the current financial year
>> Additionally, BEL has secured orders valued at Rs 305 crroe following the last disclosure on August 22, 2024, which include navigational complex system for ships, thermal imagers, communication equipment, fire control system, gun control system, spares, services, etc.
>> With these orders, BEL has now accumulated orders totaling Rs 7,075 crore in the current financial year
3:05 PM
Stock Market LIVE Updates: This smallcap stock has surged 19% in weak market; zoomed 50% in 1 month
Stock Market LIVE Updates: Shares of Gokul Agro Resources surged 19 per cent on the BSE in Wednesday’s intra-day trade to hit a new record high of Rs 317, amid heavy volumes in an otherwise a weak market. In one month, the stock has zoomed 50 per cent and it has skyrocketed 196 per cent in the past six months. In comparison, the BSE Sensex was down 0.39 per cent at 81,611 at 02:24 PM. READ MORE
2:54 PM
Stock Market LIVE Updates: Persistent Systems hits new high on buying SoHo Dragon assets worth $4.7 mn
Stock Market LIVE Updates: Persistent Systems shares rose 1.8 per cent to hit an all-time high of Rs 5,369.25 per share on the BSE after the company signed an asset purchase agreement with SoHo Dragon to acquire some of its assets. READ MORE
2:50 PM
Stock Market LIVE Updates: Khadim India shares climb over 7% after partnership with Puma; details here
Stock Market LIVE Updates: Shares of Khadim India zoomed 7.51 per cent at Rs 394.75 per share on the BSE in Wednesday’s intraday deals. This came after the company partnered with Puma to distribute Puma socks and its other products in the country. READ MORE
2:44 PM
Stock Market LIVE Updates: Reserve Bank to stick to higher digitally-linked deposit buffer proposal
Stock Market LIVE Updates: India's central bank will stick to its plan to ask lenders to set aside more funds for digitally linked deposits, despite the industry's plea for a lower buffer to avoid a hit to their liquidity, three sources familiar with the matter told Reuters. READ MORE
2:40 PM
Stock Market LIVE Updates: Indian importers favour FX options as rupee holds steady, premiums soar
Stock Market LIVE Updates: Indian importers are exploring options strategies to hedge against currency risks amid muted volatility in the rupee, moving away from outright forwards that have become expensive, traders said. READ MORE
Topics : MARKET WRAP MARKET LIVE MARKETS TODAY MARKETS LIVE Markets Sensex Nifty S&P BSE Sensex Gift Nifty NSE Nifty50 benchmark index Nifty50 BSE NSE equity BSE NSE Indian stock market Indian stock markets US stock market US stock markets Asia stocks share market stock market trading
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First Published: Sep 11 2024 | 7:24 AM IST
