Market Close Highlights: IT, Pharma drive Sensex up 360pts, Nifty at 25,000; Broader markets gain

Market Close Highlights: Indian benchmark equity indices closed higher on Tuesday, tracking overnight gains in the US markets.

10:02 AM

Stock Market LIVE updates: 10 AM market update

Stock Market LIVE updates: Indian benchmark indices BSE Sensex and Nifty50 were trading in the red, after opening higher on Tuesday on the back of a strong overnight showing on Wall Street.
 

At 10:00 AM, the BSE Sensex was at 81,511, down 48 points or 0.06 per cent lower at 81,511, while the Nifty 50 was at 24,915, down 20 points, or 0.08 per cent.

9:58 AM

Stock Market LIVE updates: HG Infra Engg shares zoom 5% on bagging LoA from Ministry of Road Transport

Stock Market LIVE updates: HG Infra Engineering share price rose as much as 5.50 per cent at Rs 1,542 per share on the BSE in Tuesday’s intraday trade. This came after the company bagged a letter of award from the Ministry of Road Transport & Highways (MoRTH) for a road project.
 

The HG Infra Engineering share price has appreciated by 68.09 per cent in the last six months, while rallying 80.21 per cent year to date, BSE data shows. READ MORE

 

9:41 AM

Stock Market LIVE updates: Neogen Chemicals CFO Ketan Vyas resigns to pursue other opportunities

Stock Market LIVE updates: Neogen Chemicals today informed that its chief financial officer (CFO) Ketan Vyas has resigned from his position as CFO and Key Management Personnel of the company to pursue other opportunities outside the company.
 

The company, in an exchange filing, said, "We wish to inform you that Mr. Ketan Vyas who has been associated with the Company from October 10, 2020 as the Chief Financial Officer, has on September 9, 2024, submitted his resignation as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from the close of business working hours on Wednesday, September 11, 2024". 

The company added that Vyas has decided to move on to pursue opportunities outside the company and it has accepted his resignation.

9:33 AM

Stock Market LIVE updates: Dixon Tech climbs as co partners with HP to make its laptops in India

Stock Market LIVE updates: HP India is set to partner with Dixon Technologies' subsidiary, Padget Electronics, to manufacture notebooks, desktops, and all-in-one PCs in Chennai under the PLI 2.0 scheme.

The new facility is expected to create 1,500 jobs and produce up to 2 million units annually.

 

9:31 AM

Stock Market LIVE updates: Pritika Auto gains 3% as management targets 7-10% growth in PAT margin

Stock Market LIVE updates: The company aims to achieve sales of Rs 950 crore over the next three years, supported by a strong order book of Rs 650 crore. The company is targeting a profit after tax (PAT) margin of 7-10 per cent.

Pritika is also expanding into the railways and defense sectors, with planned capital expenditure and increased authorized share capital to support its growth strategy.

 

9:28 AM

Stock Market LIVE updates: Awfis Space gains 3% on plans to sell its facility management business

Stock Market LIVE updates: The company plans to sell its facility management division, Awfis Care, to SMS Integrated Facility Services for Rs 27.5 crore.

This move is expected to improve the company’s working capital cycle and financial flexibility, allowing Awfis to focus more on its core flexible workspace business and expansion efforts. The transaction will be completed within 120 days.

 

9:26 AM

Stock Market LIVE updates: Suzlon Energy climbs 3% on bagging 1,166 MW project in Gujarat

Stock Market LIVE updates: The company has secured a 1,166 MW project in Gujarat with NTPC Green Energy Limited. This deal involves installing 370 wind turbines and is a key part of NTPC's goal to add 60 GW of renewable energy capacity by 2032.

Suzlon’s order book now stands at nearly 5 GW.

 

9:22 AM

Stock Market LIVE Updates: Nifty Media is top gainer

Stock Market LIVE Updates: Nifty Media is top gainer, up 1.4 per cent.

9:21 AM

Stock Market LIVE Updates: Broader markets gain

Stock Market LIVE Updates: Broader markets gain; Nifty MidCap gain up to 1 per cent.

9:18 AM

Stock Market LIVE Updates: Index heatmap check

Stock Market LIVE Updates: Infosys, Tech Mahindra among top gainers.
 

9:17 AM

Stock Market LIVE Updates: Nifty opens near 25,000-mark

Stock Market LIVE Updates: Nifty opens near 25,000-mark.

9:16 AM

Stock Market LIVE Updates: Sensex up 165 points

Stock Market LIVE Updates: Sensex up 165 points at 81.724 levels.

9:10 AM

Stock Market LIVE Updates: Nifty gains 60 pts in pre-open

Stock Market LIVE Updates: Nifty gains 60 pts in pre-open.

9:10 AM

Stock Market LIVE Updates: Sensex rises 200 pts in pre-open

Stock Market LIVE Updates: Sensex rises 200 pts in pre-open.

8:45 AM

Stock Market LIVE Updates: 'Consider buying Nifty at current levels with targets at 25100/25334'

This Tuesday, the Nifty is poised to regain ground after recent losses, driven by optimism in the market. With an overnight rebound on Wall Street, strong net buying from both FIIs and DIIs, and sluggish oil prices, bullish traders are expected to pursue bargains. Anticipation surrounds Nifty's upward trajectory, set against the backdrop of the upcoming presidential debate between Kamala Harris and Donald Trump. Ahead of the September 18th Fed meeting, traders will closely monitor two inflation reports, including the US CPI for August and producer price data. Meanwhile, the Bajaj Housing Finance IPO has seen strong initial demand.

For trading, consider buying Nifty at current levels with targets at 25100/25334 and aggressive targets near 25750-26000. Similarly, for Bank Nifty, buying at CMP with targets at 51500/51755 and aggressive targets in the 52357-53000 range is recommended.

Berger Paints, Godrej Consumer Products, and Britannia are also bullish picks on any intraday weakness, with an interweek perspective. Specifically, Berger Paints stands out as a buy with targets at 625/639 and aggressive targets at 661, supported by bullish momentum oscillators and higher high/low patterns.

Views by: Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.