Market Close Highlights, Sept 24: Markets muted after record; Sensex red at 84,900, Nifty at 25,950

Stock Market LIVE Updates: Indian equity benchmark indices pared their gains from the fresh all-time highs they touched late on Tuesday to close on a mixed note.

9:17 AM

Stock Market LIVE Updates: Sensex slips over 150 points at open

The 30 bluechip stocks index BSE Sensex slipped around 192 points or 0.23 per cent at 84736 level at open on Tuesday.

9:15 AM

Derivative Strategy: Open interest at the 26,000 Call and 25,500 Put levels

The Nifty index continues to trade with a positive bias, supported by strong momentum on the daily charts. This aligns well with the medium-term outlook, which remains bullish. The last significant trend support was established at 24,750, a level notably distant from the current market price of 25,939.05, underscoring the index's solid performance.

 

Investors are advised to adopt a "buy on dips" strategy as opportunities emerge, particularly in the Banking, Metal, and Energy sectors, which have shown strength.

 

In the options market, there is a significant concentration of open interest at the 26,000 Call and 25,500 Put levels. The Nifty Put-Call Ratio (PCR-OI) stands at 1.416, indicating a positive sentiment among market participants.

 

With the current outlook and sectoral performance, the Nifty is positioned for further gains, provided market conditions remain favourable.

(Strategy by: Sahaj Agarwal, Senior Vice President, Head of Derivatives Research, Kotak Securities)

9:09 AM

Stock Market LIVE Updates: Nifty at 25,922, down marginally in pre-opening deals

NSE's Nifty50 was down marginally by 16 points or 0.06 per cent at 25,922 level in pre-open trade. 

9:08 AM

Stock Market LIVE Updates: Sensex slips over 60 pts in pre-open

The benchmark BSE Sensex slipped 67 points or 0.08 per cent at 84,860 levels in pre-open. 

9:07 AM

Stock Market LIVE Updates: Market undertone bullish despite geopolitical concerns

Two trends deserve attention. The serious global geopolitical concern continues to be the Middle East where things are getting worse. Israeli strikes on Lebanon have killed hundreds of people triggering concerns. Crude has inched up. Gold and the volatility index are moving up reflecting anxiety. However, the market remains resilient and the undertone continues to be bullish. Investors have to take a call based on these two trends.

 

The preference for quality and fair value is getting stronger in India as reflected in the continuous rise in Bank Nifty for the eighth straight session. The return of FIIs into the market in September will aid recovery in frontline banking stocks.

 

SEBI’s latest warning about 93 per cent of  individual traders losing money in the F&O market should be taken seriously. It is unfortunate that while systematic investors are making good money, the vast majority of individual traders are losing money. The primary responsibility of conserving and growing one’s hard earned money rests with the individual. Earlier the individual traders realise this, the better for them.

(View by: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.)

 

9:04 AM

Stock Market LIVE Updates: Rupee opens flat at Rs 83.55

The rupee was unmoved at open quoting around Rs 83.55 per dollar on Tuesday.

9:00 AM

Stock Market LIVE Updates: 'Market remains resilient and the undertone continues to be bullish'

Stock Market LIVE Updates: "Two trends deserve attention. The serious global geopolitical concern continues to be the Middle East where things are getting worse. Israeli strikes on Lebanon have killed hundreds of people triggering concerns. Crude has inched up. Gold and the volatility index are moving up reflecting anxiety. However, the market remains resilient and the undertone continues to be bullish. Investors have to take a call based on these two trends.

The preference for quality and fair value is getting stronger in India as reflected in the continuous rise in Bank Nifty for the eighth straight session. The return of FIIs into the market in September will aid recovery in frontline banking stocks.

SEBI’s latest warning about 93% of  individual traders losing money in the F&O market should be taken seriously. It is unfortunate that while systematic investors are making good money, the vast majority of individual traders are losing money. The primary responsibility of conserving and growing one’s hard earned money rests with the individual. Earlier the individual traders realise this, the better for them."
 

Views By: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

8:58 AM

Stock Market LIVE Updates: Sterling Tools sets up subsidiary to expand atomotive bsiness in overseas markets

Stock Market LIVE Updates: Sterling Tools today announced that it has set up a wholly-owned subsidiary called Sterling Overseas Pte Ltd, to expand its automotive business in international markets.

The company, in an exchange filing, said, "We wish to inform you that a wholly-owned subsidiary (WOS) company of Sterling Tools Limited in the name of "STERLING OVERSEAS PTE. LIMITED" has been incorporated having UEN: 202439066G under the Singapore Companies Act 1967 with Accounting and Corporate Regulatory Authority, Singapore."

It added, the purpose of the subsidiary is "to expand automotive business of the company in overseas market."

8:53 AM

Stock Market LIVE Updates: Revolt gets 16,000 bookings in first week of launching RV1 electric motorcycle

Stock Market LIVE Updates: Revolt Motors today announced that its newly launched RV1 electric motorcycle has received 16,000 bookings in the first week.

8:50 AM

Stock Market LIVE Updates: Biocon step-down subsidiary to issue senior secured notes to raise funds

Stock Market LIVE Updates: Biocon today informed that its unit Biocon Biologics Global -- a subsidiary of Biocon Biologics UK Limited, which is a subsidiary of Biocon Biologics and a step-down subsidiary of the Biocon -- is proposing to offer senior secured notes.

The company, in an exchange filing, said, "The Notes are proposed to be irrevocably and unconditionally guaranteed on behalf of the Issuer by, among others, Biocon Biologics, being a material subsidiary of the Company and secured by, among others, a pledge over certain shares held by Biocon Biologics in Biosimilars Newco. Limited, being a subsidiary of Biocon Biologics." 

It added, "The pricing of the Notes, including the aggregate principal amount, the issue price and the interest rate, shall be determined in accordance with international market practices by the joint global coordinators and joint lead managers appointed by the Issuer."

 

8:44 AM

Stock Market LIVE Updates: 'Asian and European market cues hold key for extended rally in domestic markets'

Stock Market LIVE Updates: "Markets could see a positive opening amid optimism in the Gift Nifty index after steady gains in the overnight US markets. While both benchmark indices (Sensex & Nifty) are at a striking distance of hitting the milestone mark of 85,000 and 26,000 respectively, cues from other Asian and European indices would hold key for extended rally in domestic markets. After the inaugural Fed rate cut, focus now turns to US PCE inflation to trickle this Friday. While Nifty is likely to be in a trading range of 25,000-26,500 zone, the 26,500 mark is now the major resistance zone for the index on a closing basis."

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

 

8:40 AM

Stock Market LIVE Updates: Two-day GST Summit in Goa: GoM to review tax rates for 100+ products

Stock Market LIVE Updates: The six-member Group of Ministers (GoM), chaired by Bihar Deputy Chief Minister Samrat Choudhary, will convene in Goa on Tuesday and Wednesday to discuss tax rates for over 100 products, including fertilisers, handloom goods, and textiles, according to sources.

The proposals from the panel will serve as the foundation for a report to be presented at the 55th Goods and Services Tax (GST) Council meeting in November. READ MORE

8:39 AM

Stock Market LIVE Updates: Fintech firm MobiKwik gets Sebi approval to raise Rs 700 crore through IPO

Stock Market LIVE Updates: Fintech firm MobiKwik on Monday received a nod from the Securities and Exchange Board of India (Sebi) to launch its Rs 700 crore initial public offering (IPO).

Mobikwik had filed the draft red herring prospectus (DRHP) with the regulator on January 4. READ MORE

8:38 AM

Stock Market LIVE Updates: NTPC Green Energy's Rs 10,000 cr IPO likely in November first week

Stock Market LIVE Updates: NTPC Green Energy, a subsidiary of state-owned power giant NTPC, is likely to bring its initial public offering (IPO) to raise Rs 10,000 crore in first week of November, a source said.

Last week, NTPC Green Energy had filed preliminary papers with capital markets regulator Sebi to raise Rs 10,000 crore through IPO. READ MORE

 

8:37 AM

Stock Market LIVE Updates: IPEF identifies semiconductors, minerals, batteries as critical sectors

Stock Market LIVE Updates: The United States (US) 14-member plurilateral group initiated by the Indo-Pacific Economic Framework (IPEF) for Prosperity has identified semiconductors, critical minerals, batteries, and chemicals as critical sectors under its supply chain resilience agreement signed earlier this year, the commerce department said on Monday.

The 14 member nations include India, Australia, Brunei, Fiji, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the US, and Vietnam. READ MORE