Stock Market Highlights 19 Sept 2022: Nifty ends near 17,650, Sensex up around 300 points; M&M, Bajaj Finance top gainers

Stock Market Closing 19 Sept

The global market was expected to battle volatility as we approach the Fed policy announcement, while the latest inflation data remained above the estimates. The policy tone indicates hawkish measures, suggesting elevated hikes, leading to the pull-out of FIIs money from the Indian equities. However, this trend is expected to be short-lived, as future inflation trend forecast a clampdown, bringing stability in policy stance by the end of this year.

Vinod Nair, Head of Research at Geojit Financial Services.

 

Nifty, Sensex top gainers and losers on 19 Sept

Mahindra & Mahindra, Bajaj Finance, SBI LIfe and State Bank of India were among top gainers, while Tata Steel, Tata Motors, Powergrid and NTPC were among top laggards on Monday.  

Nifty Bank near 40,800 

The 12-share Nifty Bank slipped below 41,000-mark to trade above 40, 800 even as Nifty PSU Bank rose almost two per cent  

Demat account holders ALERT: Do THIS before September 30 else your account will be 'locked'

The two-factor authentication for Demat accounts will come into effect from October 1. According to a notification issued by the National Stock Exchange (NSE) in June, Demat account holders need to enable the two-factor authentication by September 30 to continue using their accounts. Those failing to enable the two-factor authentication won't be able to access their accounts. Full Report

Stock Market Update Today: Nifty Midcap in green 

Nifty Midcap swung into green in the afternoon session after declining by more than half per cent in the early trade on Monday. Nifty Smallcap remained under pressure and traded lower by 0.40% 

Escorts Kubota share price hits 52-week high 

Shares of tractor manufacturer Escorts Kubota hit 10% upper circuit on Monday. Escorts Kubota share price rose 10% in BSE intraday trade to hit 52-week high of Rs 2,122.85 a share on Monday. The surge in stock price was backed by a spurt in volume of more than seven times.   

Natural gas prices continue to decline - Reasons decoded by Zee Business analyst

Natural gas prices continue to drop in the global market on Monday morning. While all the commodities are under pressure today, natural gas in the energy complex is worst affected. Last week it registered a downfall of around 7% and the trend continues even this week. Full Report

ICICI Bank top gainer on BSE 

ICICI Bank, Reliance Industries and Infosys were top volume gainers on the BSE. With 81,54,979 total tradable quantity worth Rs 741.31 crore, ICICI Bank stood the leading gainer on Monday.  

OYO IPO plan revived: Company files addendum with SEBI

OYO's share of the total addressable market in its core growth markets was less than one per cent creating significant opportunities for it to grow its footprint. OYO has significant opportunities as 88 per cent of global hotels are in the unorganised space. Full Report

Nifty PSU Bank jumps 2.5%, Nifty Bank above 41,000 

Nifty PSU Bank, which gained more than 2.5%, was leading the rally on Dalal Street after the market opened weak on Monday. Nifty Consumer Durables, Metal, Pharma and Healthcare traded in the red around 12 pm. Meanwhile, Nifty Bank, which recently hit its fresh high, gained more than half per cent to trade above 41,000 mark 

Oil stocks in focus: HPCL, BPCL, ONGC, others gain after govt cuts windfall tax on domestic crude

Oil and gas stocks rose in a weak market on Monday after the government slashed windfall tax on domestic crude oil and exports of Aviation Turbine Fuel (ATF).  Reacting to the development, major oil and gas stocks gained between half per cent to three per cent in early trade. Hindustan Petroleum Corporation Ltd (HPCL) share price rose three per cent in early trade to Rs 236.40 a share on the BSE. Similarly, Oil and Natural Gas Corporation Ltd jumped around two per cent to trade at 134.25 a share on the BSE. BPCL and Reliance Industries gained around half per cent each to Rs 324.45 and 2512.95 respectively. Full Report

Sanjiv Bhasin Today picks on Zee Business: BUY stocks - Godrej Properties, Godrej Consumer Products - check share price targets

Sanjiv Bhasin Today picks on Zee Business: Market expert and IIFL Securities Director Sanjiv Bhasin on Monday predicted that the market will remain uncertain till 21st September. Notably, the Federal Reserve will meet to set interest rates on September 20-21. The decision will be announced on September 21. It is expected that the Federal Reserve will go for a 75bps rate hike in the upcoming meeting to bolster the fight against skyrocketing inflation. Full Report

Ambuja Cements share price jumps around 7%, hits 52-week high 

Shares of cement and cement products maker Ambuja Cements rose more almost seven per cent in BSE intraday trade on Monday. Ambuja Cements share price traded at new 52-week high of Rs 555.75 per share.  

Mahindra Group & Canada-based Ontario Teachers enter into strategic pact with for renewable energy – know details!

The Mahindra Group and Ontario Teachers' on Saturday announced forming a strategic partnership under which they will invest around Rs 4,550 crore to grow future portfolios of Mahindra Susten Private Ltd (MSPL), a renewable energy platform of the former. Full Report

Gold Price Today 19 Sept: Buy zone, sell zone, support for yellow metal today

The US Fed is likely to raise the interest rate by 0.75 per cent at the upcoming meeting this week and this seems to be factored in the market sentiments. However, any move apart from the expectation may trigger volatility in the gold prices. The US Fed’s rate hike is supporting the dollar to recover but it is facing some challenges from the monetary tightening stance of other central banks like ECB, Bank of Japan. The sluggish demand in China has also increased the selling pressure in gold.

Buy Zone Above - 49500 for the target of 49700
Sell Zone Below - 49200 for the target of 49000

Dr. Ravi Singh-Vice President and Head of Research-ShareIndia

MCX October Gold and Silver yesterday closed positive at 49380(+0.14%)and December Silver closed at 56720(+0.54%), Bullions chars are looking positive and making bottom at lower levels, Momentum Indicator RSI also indicating the same, So traders are advised to make fresh buy potions in Gold and Silver near given support below:

Gold October Support 49200/49000 and Resistance 49550/49700.

Silver December Support 56200/55700 and Resistance 57200/57700.

Amit khare, AVP- Research Commodities, Ganganagar Commodity Limited