Market Highlights, Sept 13: Sensex ends flat, Nifty near 25,350; MidCap index settles at record high

Stock Market Highlights: The NSE Nifty Midcap 100 index ended at a record high closing level of 60,034.05 on Friday

8:59 AM

Stock Market LIVE updates: Nifty Tech View - 'We still have enough days until 18 Sep, to meet 25,800'

Stock Market LIVE updates: Nifty outlook - While we had high conviction towards dips getting arrested near 24,900 on the day before, and the upswings thereof testing 25,150 again yesterday, the turbo charged upmove yesterday towards close took us by surprise, especially as the recent few days’ pattern now looks very similar to that in late July, in the lead up to the August’s collapse from the peak. That VIX did not respond much to yesterday’s upmove also gives enough reason not to expect a major follow through push higher today. That said, we still have enough days until 18 Sep, to meet 25,800, our long standing upside objective. For the day, initial dips are expected to be contained near 24,240 for a slow upswing thereof, but a direct fall below 24,150 could let bears dominate.
   

Views by: Anand James, Chief Market Strategist, Geojit Financial Services

8:55 AM

Stock Market LIVE updates: Double digit growth and rural revival positive for Marico's stock

Stock Market LIVE updates: Concerns have been raised over Marico’s exposure to Bangladesh in the wake of turmoil in that country. However, the management reiterated expectations of growing domestic business at double digits and maintaining international growth.

Marico scaled up its food business by 4 times between FY20-24 and aims to double it again in the next three financial years. READ MORE

 

8:54 AM

Stock Market LIVE updates: DGCA frames stricter norms for wet-leased plane ops by Indian airlines

Stock Market LIVE updates: The Directorate General of Civil Aviation (DGCA) on Thursday proposed stricter norms for the oversight of wet-leased planes operated by Indian airlines.

Faced with the grounding of a significant number of planes due to engine and supply chain woes, domestic carriers are utilising more wet-leased aircraft as a short-term measure to cater to rising air traffic demand. READ MORE

 

8:53 AM

Stock Market LIVE updates: Higher limit in FPIs: NRI investments in Gift City off to a slow start

Stock Market LIVE updates: The Securities and Exchange Board of India has permitted 100 per cent contribution from non-resident Indians (NRIs) and overseas citizens of India (OCIs) in the corpus of foreign portfolio investors (FPIs) based out of Gujarat International Finance Tec-City (GIFT City), the country’s international financial services centre (IFSC).

However, the Indian diaspora is yet to fully warm up to this new route. READ MORE

8:50 AM

Stock Market LIVE updates: Adani Group company Ambuja Cement receives tax order of Rs 1.39 crore

Stock Market LIVE updates: Ambuja Cement today informed that it has received a tax, penalty and fine order for a total amount of Rs 1.39 crore, from the customs department.
 

The company, in an exchange filing, said, "The company has received Order from the Office of Commissioner of Customs, New Custom House, Mumbai-01, Maharashtra levying custom duty of Rs 54,61,050, fine of Rs 10,00,000 u/s 125, penalty of Rs 54,61,050 u/s 114A and Rs 20,00,000. u/s 114AA of the Customs Act 1962."

The company added that it "is taking appropriate steps to appeal against the said order imposing the penalty before the appropriate authority." 

 

8:44 AM

Stock Market LIVE updates: Nazara to acquire 47.7 stake in PokerBaazi-owner Moonshine Tech for Rs 982 cr

Stock Market LIVE updates: Nazara Technologies today announced the acquisition of a 47.7 per cent stake in Moonshine Technology, the parent company of PokerBaazi, for Rs 832 crore through a secondary transaction. 
 

Additionally, Nazara will inject Rs 150 crore in primary capital into Moonshine via compulsory convertible preference shares, the company said in an exchange filing.

 

8:39 AM

Stock Market LIVE updates: PM E-DRIVE brings relief to EV industry, but lacks FAME-level incentives

Stock Market LIVE updates: The newly announced PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme has brought relief to the electric mobility industry, but the incentives are lower than what the Faster Adoption and Manufacturing of Electric (And Hybrid) Vehicles (FAME) scheme offered. READ MORE

 

8:34 AM

Stock Market LIVE updates: Adani Group denies Hindenburg comment on frozen funds in Swiss banks

Stock Market LIVE updates: India's Adani Group said late on Thursday it has no involvement in any Swiss court proceedings after Hindenburg Research indicated that authorities had frozen more than $310 million of the company's funds as part of a money laundering and securities forgery investigation.
 

Swiss criminal court records show in detail how an Adani frontman invested in opaque BVI/Mauritius & Bermuda funds that almost exclusively owned Adani stock, the US-based short seller said in a post on X, formerly Twitter, citing a Swiss media outlet. READ MORE

 

8:29 AM

Stock Market LIVE updates: Hindustan Aeronautics may be upgraded to Maharatna category by December

Stock Market LIVE updates: State-run Hindustan Aeronautics Limited (HAL) is likely to be upgraded to the category of Maharatna from its current status of Navratna among the Central Public Sector Enterprises (CPSEs) by the end of this calendar year, a senior finance ministry official said. READ MORE

 

8:28 AM

Stock Market LIVE updates: FOPs slow to migrate under Sebi's new SM REIT norms; few registered

Stock Market LIVE updates: Only a handful of fractional ownership platforms (FOPs) have migrated to the new Securities and Exchange Board of India (Sebi) norms for Small and Medium Real Estate Investment Trusts (SM-Reits).
 

According to the data on market regulator’s website, only one FOP, Property Share Investments, had secured a license, while five more applications were pending, including those from hBits and WiseX as of August 31. READ MORE

 

8:21 AM

Stock Market LIVE updates: Rate cuts and higher discretionary spending likely to boost tech funds

Stock Market LIVE updates: Technology funds have been the best-performing category in recent times within the equity space.

Of the total category average return of 35.2 per cent garnered by them over the past year, 22 per cent has come in the last three months. READ MORE

8:18 AM

Stock Market LIVE updates: Liquidity galore in markets: Spotlight on IPOs in trillion-bid club

Stock Market LIVE updates: Bajaj Housing Finance's recent IPO has drawn attention to the highest-bid IPOs in history. According to Prime Database, Reliance Power's 2008 IPO still holds the record for highest cumulative bids at Rs 7.12 trillion. 
 

However, it's essential to note that this figure was notional, as QIBs were allowed to bid with just a 10 per cent margin amount at the time. Later, the regulator abolished this practice to level the playing field and ensure fair bidding. READ MORE

 

8:15 AM

Stock Market LIVE updates: HAL, Airtel, IRCTC, among top stocks to watch today

Stock Market LIVE updates: Hindustan Aeronautics: HAL is expected to be upgraded from Navratna to Maharatna status by the end of this year, granting it greater operational and financial autonomy.

This upgrade will allow HAL to make project investments up to Rs 5,000 crore without government approval. READ MORE

 

8:13 AM

Stock Market LIVE updates: Silver trading strategy for today - Buying the dips recommended

Stock Market LIVE updates: On Thursday, spot silver rallied to a nearly three-week high on Fed rate cut bets and firmer industrial commodities.
 

The metal rose sharply higher from its day's low of $28.53 on a slight pickup in the US jobless claims, prior PPI data getting revised lower, surging gold and the European Central Bank cutting rates by 25 bps. The US data strengthened the rate cut notions. READ MORE
 

 

8:11 AM

Stock Market LIVE updates: Gold trading strategy for today

Stock Market LIVE updates: Support seen at Rs 73,000, resistance at Rs 75,200.

After consolidating in the $2470-$2530 range for nearly three weeks, spot gold rallied to a fresh record high of $2555 on Thursday. 

The metal rallied to breach the crucial resistance of previous all-time high at $2532 on a slight pickup in the US jobless claims, prior PPI data getting revised lower and the European Central Bank cutting rates by 25 bps. READ MORE