Share Market HIGHLIGHTS: Sensex ends 320 pts higher, Nifty settles at 19,638; Hindalco zooms 6%, NTPC up 4%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex on Friday, September 29, scaled higher amid advances in banks and metal companies. Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.coms blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex on Friday, September 29, scaled higher amid advances in banks and metal companies. On the other hand, a fall in information technology stocks was seen after the IT bellwether Accenture predicted a downbeat year as spending stays weak.
At close, the S&P BSE Sensex was up 320.09 points, or 0.49 per cent, at 65,828.41, and the NSE Nifty was up 114.75 points, or 0.59 per cent, at 19,638.3. In the broader market, the Nifty Mid Cap 100 and Small Cap 100 ended nearly 1 per cent higher. Nifty Bank closed up 0.64 per cent at 44,584.55.
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Share Market HIGHLIGHTS | Sensex ends 320 pts higher, Nifty settles at 19,638
Nifty 50
Nifty settles at 19,638, up 0.59 per cent.
Source: NSESensex
Sensex ends 320 points higher at 65,828.
Source: BSE
Share Market HIGHLIGHTS | Hindalco, NTPC, Dr Reddy's rise most in 50-scrip blue-chip basket
Hindalco, NTPC, Dr Reddy's and Hero MotoCorp are among the top gainers in the Nifty basket, trading with gains of around 6-3 per cent. On the other hand, Adani Enterprises, LTIMindtree, Infy and HCL Tech are among the top losers, down nearly 2- 0.5 per cent.
Source: NSE
Share Market Today LIVE | Vedanta stock soars over 6% after mining firm announces allotment of shares worth Rs 2,500 crore
A day after hitting a 52-week low, Vedanta Limited shares are soaring higher by 6.6 per cent, or Rs 13.75, at Rs 222, on BSE on Friday (September 29, 2023) a day after the company announced that it was alloting shares worth Rs 2,500 crore on a preferential basis.
In a BSE filing on Friday, Vedanta said, The company has duly allotted, on a private placement basis, 2,50,000 nos. secured, unrated, unlisted, redeemable, non-convertible debentures (“NCDs”) of face value Rs 1,00,000/- each aggregating to Rs 2,500 Crores, with the date of allotment now being September 27, 2023 and depository confirmation for credit of NCDs being received on September 28, 2023." Read more
Share Market Today LIVE | Sensex rises over 600 pts
Source: NSE
Share Market Today LIVE | Jet Airways stock hits the upper limit after Jalan Kalrock infuses Rs 100 crore in airline
Shares of Jet Airways hit the upper limit of 5 per cent, or Rs 2.66, at 55.91 apiece on BSE on Friday, moments after Jalan Kalrock Consortium, the winning bidder for the revival of grounded carrier Jet Airways, said that it had infused an additional Rs 100 crore in the airline as per the court-approved resolution plan. JKC (Jalan Kalrock Consortium) said in a statement, "With this, the consortium has "fulfilled" its total financial commitment of Rs 350 crore to revive the airline, which would pave the way for it to take over the ownership of Jet Airways." Read more
Share Market Today LIVE | Nifty Bank trades near day's high
Source: NSE
Share Market Today LIVE | L&T's construction arm secures mega order worth Rs 7,000 crore; shares scale fresh peak
It would not be an exaggeration to say that the construction and engineering conglomerate Larsen & Toubro (L&T) is in its prime. The infra giant is securing one mega order after another, thus propelling the company’s share price to new highs almost every day. The stock hit a fresh record high of Rs 3,057 on the BSE on Friday, September 29, after the company, in its regulatory filing, said that the Heavy Civil Infrastructure business vertical of L&T Construction has won a mega order from its client, the Mumbai Metropolitan Region Development Authority (MMRDA), for the design and construction of an Underground Road tunnel Project between Orange Gate, Eastern Free Way to Marine Drive Coastal Road at Mumbai. Read more
Share Market Today LIVE | Saregama reverses early gains on acquiring leading digital entertainment entity
Shares of Saregama India trade at Rs 367.85, down 0.34 per cent, reversing the early morning gains. The counter gained up to 6.57 per cent to hit a day’s high at Rs 393.35 apiece on the BSE. The company’s shares advanced after it bought a majority stake in the country’s leading digital entertainment company, Pocket Aces. Read more
Share Market Today LIVE | Nifty above 19,650, Sensex rises nearly 450 pts
Nifty 50
Source: NSESensex
Source: BSE
Share Market Today LIVE | Infosys, TechM, TCS under pressure post-Accenture Q4 nos; what lies ahead for Indian players?
Domestic technology stocks reel under pressure on Friday, September 29, after global IT services company Accenture reported weaker-than-expected numbers for the fourth quarter of fiscal 2023 (Q42Y23). Accenture's full-year (FY24) earnings and first-quarter (Q1 FY24) revenue forecasts, too, came below expectations, signalling that high inflation and interest rates would choke enterprise spending through next year.
The Nifty IT index led losses with an over 1 per cent fall in on Friday. All ten IT stocks in the information technology index declined in the early morning trade with zero advances. Persistent Systems was among the top Nifty IT losers, down 1.77 per cent, followed by Infosys, which was down 1.29 per cent on the NSE. LTIMindtree traded 1.19 per cent lower. Moreover, L&T Technology and Wipro traded over a per cent lower in morning trade. Read more
Share Market Today LIVE | Sensex rises nearly 250 pts
Source: BSE
Share Market Today LIVE | Aurobindo Pharma shares scale 52-week high; here is what is driving the stock
Aurobindo Pharma stock scales a 52-week high on Friday, more than recouping the previous day's losses, after sources said the company received approval to launch the Revlimid drug, used along with other medicines in the treatment of adult patients with multiple myeloma. The stock of the Hyderabad-based pharmaceuticals company jumps by as much as Rs 56, or 6.4 per cent, to Rs 930 apiece on BSE. Read more
Share Market Today LIVE | L&T, NTPC, Coal India, other stocks hit 52-week highs
As many as 11 stocks in the BSE 500 basket — the broadest index on the bourse — reached the milestone.
Stock CMP 52 Weeks High Previous 52 Weeks High(Price/Date) All Time High(Price/Date) AUROPHARMA 925 930 907.05 (13 Sep 2023) 1,650.00 (07 Jan 2000) COALINDIA 294.85 296.3 294.15 (28 Sep 2023) 447.25 (05 Aug 2015) ERIS 912.4 925 924.00 (21 Aug 2023) 925.00 (29 Sep 2023) KNRCON 284.35 289.9 289.60 (28 Sep 2023) 819.90 (13 Oct 2016) LT 3,010.00 3,057.00 3,050.70 (28 Sep 2023) 4,670.00 (01 Nov 2007) NTPC 247.3 251.5 245.90 (20 Sep 2023) 291.00 (15 Jan 2008) PFC 251.4 254.25 254.10 (27 Sep 2023) 383.00 (14 Oct 2010) RECLTD 287.5 292 285.90 (28 Sep 2023) 409.50 (11 Oct 2010) SUNTECK 449.95 456.95 453.05 (28 Sep 2023) 2,955.00 (08 Oct 2009) TORNTPOWER 736.55 749.6 747.00 (28 Sep 2023) 749.60 (29 Sep 2023) UNIONBANK 104 105.5 104.94 (28 Sep 2023) 426.80 (27 Oct 2010) Share Market Today LIVE | Navin Fluorine hits 52-week low on resignation of Managing Director Radhesh Ratnakar Welling
Navin Fluorine shares declines as much as 14.3 per cent to hit a 52-week low of Rs 3,734 apiece on the BSE, a day after the company informed that its Managing Director Radhesh Ratnakar Welling has resigned from the post.
In its regulatory filing, the company said, "Mr. Radhesh R. Welling has tendered his resignation as the Managing Director and a Director on the Board of the Company for personal reasons. His resignation was accepted by the Board of Directors at its Meeting today. Read more
Stocks to Buy | SBI, GAIL among analysts' top picks in October series
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Sacchitanand Uttekar, Kunal Saraogi, Sumeet Bagadia and Siddharth Sedani share their top recommendations for the October derivatives series in this special segment, Pick of the Series.
The Nifty and the Nifty Bank entered the new monthly series on a positive note on September 29, after finishing the September series with gains of 269.7 points and 311.8 points, respectively. Read more
Share Market Today LIVE | MCX shares slump after regulator asks commodity exchange to put move to new platform on hold
MCX shares suffer heavy losses on Friday, retreating from a 52-week high scaled the previous day, after the commodity exchange said the shift to its new platform—originally scheduled to take place on October 3—was on hold. The MCX stock trades at Rs 1,926.8, down Rs 173.55 or 8.26 per cent on BSE. Read more
Share Market Today LIVE | Nifty near 19,600, Sensex up over 150 pts
Nifty 50
Nifty trades at 19,581, up 0.29 per cent in opening deals.
Source: NSESensex
Sensex trades over 150 pts higher at 65,679 in opening deals.
Source: BSE
Currency Update | Rupee rises 9 paise to 83.10 against US dollar in early trade
Anil Singhvi Market Strategy | Important levels to track in Nifty, Nifty Bank today
Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty index emerging at 19,465-19,525 levels and a strong buy zone at 19,365-19,435 levels on Friday, September 29. For the Nifty Bank, he expects support at 44,000-44,200 levels and a strong buy zone at 43,600-43,825 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Pre-Opening Market Comment | Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd
“Markets may see a firm opening on the back of strong global cues, but stocks are likely to fluctuate intra-day given the uncertainty over rising interest rate scenario, the surge in US dollar and bond yields, and rising crude oil prices. Technically, as long as Nifty trades below the 19807 mark the bears are likely to be everywhere. Nifty’s biggest intraday support is being seen at 19471 and then downside risk is being seen at 19221 mark.”
Stocks to Watch | IT stocks, Aurobindo Pharma, MCX, SBI, Sun Pharma and Emami among top stocks to track today
Here's list of stocks that are expected to trade actively on Friday (September 29).
IT stocks: Accenture recorded a decline in net profit year-on-year (YoY) by 18 per cent to $1.37 billion. New bookings also declined by 9.8 per cent to $16.6 billion and some deals will happen in the next quarter instead of this quarter, as per the company. The management has given weak guidelines, stating earnings growth guidance of 2–5 per cent for FY24, which was estimated at 4.6 per cent.
Sun Pharma: Sun Pharma announced on Thursday that one of its subsidiary companies had signed a binding letter of intent to acquire the balance 25 per cent outstanding shares of Sun Pharma de México, S.A. de C.V., a subsidiary of the company, where the company is currently holding 75 per cent shares. Post-acquisition of the balance 25 per cent outstanding shares will result in Sun Pharma de México, S.A. de C.V. becoming a wholly owned subsidiary of the company, Sun Pharma said in its BSE filing.
SBI: State Bank of India announced on Thursday that it had trimmed its stake in MSP Steel & Power Limited through an open market deal, reducing its stake from 7.30 per cent to 2.47 per cent.
Emami: Homegrown FMCG maker Emami on Thursday announced the acquisition of a 26 per cent stake in Axiom Ayurveda, which markets beverage products under the brand 'AloFrut', for an undisclosed amount, paving its entry into the juices segment. Through this strategic investment, the Kolkata-based leading personal care and healthcare maker has entered the packed juice category by acquiring a 26 per cent stake in Axiom Ayurveda and its subsidiaries, according to a joint statement. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a sluggish start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are down 22 points or 0.11 per cent at 19,633 ahead of the opening bell on Dalal Street.
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