FINAL TRADE: Sensex up 14.5 pts; Nifty settles at 19,674.5; Delta Corp down over 18%

Stock market today:  The Indian equity market on Monday, September 25, ended on a muted note amid weakness in information technology (IT), oil & gas, metals, pharma, and auto counters. Casino operator Delta Corp closed over 16 per cent lower after it received a notice from the GST department.

At close, the S&P BSE Sensex was up 14.54 points, or 0.02 per cent, at 66,023.69, and the NSE Nifty was flat at 19,674.55.

In the broader market, the Nifty Mid Cap 100 and Small Cap 100 closed on a positive note.

Nifty Bank was up 0.35 per cent at 44,766.1.

TECHNICAL VIEW 

"The index remained volatile before closing with a doji pattern on the daily timeframe. This suggests a possible pause in the prevailing bearish trend. From here, the market might consolidate a bit before starting a new trend. Support on the lower end is pegged at 19,600; a fall below 19,600 might initiate fresh shorts. On the higher end, resistance is placed at 19,755," said Rupak De, senior technical analyst at LKP Securities.

"The Bank Nifty index experienced a brief respite following a four-day sell-off, with buyers gaining traction from lower levels. However, the index continues to trade below its 20-day moving average (20DMA), which is currently positioned at 45,000. A close above this level would signal a potential resumption of the upward momentum. On the downside, the lower-end support now rests within the 44,500 to 44,000 zone. A breach below this support range could result in additional selling pressure on the index," said Kunal Shah, senior technical and derivative analyst at LKP Securities.

NIFTY STOCKS 

Bajaj Finance, Tata Consumer Products, Bajaj Finserv, Apollo Hospitals, and Coal India were the major winners. On the flip side, Hindalco, SBI Life, HeroMoto Corp, Infosys, and M&M were the top laggards.

BUZZING STOCKS 

Bajaj Finance shares closed 4 per cent higher as the company's board will consider the proposal to raise funds through preferential issues, QIPs, or other means in the meeting on October 5.

Strides Pharma shares settled 7 per cent higher after the board approved the demerger of its CDMO business.

IRB Infrastructure Development shares were up over 7 per cent. 

MCX shares were up over 6 per cent on the back of reports that MCX can ship on the new trading platform.

Conversely, Religare Enterprise ended 7 per cent lower after the Burman family, which holds a controlling stake in Dabur, made an open offer.

Delta Corp shares closed over 18 per cent lower after the company received a total tax-due notice of Rs 16,822 crore under the CGST and SGST.

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