Share Market HIGHLIGHTS: Nifty tops 19,600, Sensex settles 100 pts higher; Tata Consumer Products jumps 4%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex on Wednesday, September 6, closed higher amid buying in FMCG, pharma, and financial services stocks. 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 Wednesday, September 6, closed higher amid buying in FMCG, pharma, and financial services stocks. S&P BSE Sensex ended 100.26 points, or 0.15 per cent higher at 65,880.52, and the NSE Nifty settled 36.15 points, or 0.18 per cent higher at 19,611.05.
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.com's blog:
Latest Updates
Share Market HIGHLIGHTS | Tata Consumer Products, Divi's Lab, Bharti Airtel rise most in 50-scrip blue-chip basket
Tata Consumer Products, Divi's Lab, Bharti Airtel and HDFC Bank are among the top gainers in the Nifty basket, trading with gains of around 4-1 per cent. On the other hand, Tata Steel, Hindalco, Axis Bank and NTPC are among the top losers, down nearly 2 per cent.
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Share Market HIGHLIGHTS: Nifty ends above 19,600, Sensex settles 100 pts higher
Nifty 50
Nifty ends above 19,600, up 0.18 per cent.
Source: NSESensex
Sensex settles 100 points higher at 65,880.52.
Source: BSE
Share Market Today LIVE | Sugar stocks rally as prices hit six-year high; Avadh Sugar zooms nearly 12%
An increase in sugar prices boosted the demand for sugar stocks in Wednesday's trading session. According to a Reuters report, sugar prices in India have jumped by more than 3 per cent in a fortnight to their highest level in six years. All sugar stocks were trading in green in the afternoon trade. Among individual names, Avadh Sugar was up nearly 12 per cent, Dalmia Bharat Sugar and Industries Ltd was up over 6 per cent, Dhampur Sugar Mills shares were up over 5 per cent, Shree Renuka Sugars was up over 5 per cent, and Sakthi Sugars was up nearly 5 per cent in the last hour of the trade. Read more
Share Market Tips LIVE | Buy Rupa & Company, Kabra Extrusion shares, says Vikas Sethi
Vikas Sethi of Sethi Finmart recommends buying Rupa & Company shares for a target of Rs 300 with a stop loss at Rs 270. Besides, he recommends buying Kabra Extrusion shares for a target of Rs 475 with a stop loss at Rs 455.
Nifty Today LIVE | ICICI Bank, Infy, Axis Bank among top drags in the Nifty basket
ICICI Bank, Infy, Axis Bank and Tata Steel are among the top drags in the Nifty basket at this hour. On the contrary, HDFC Bank, Bharti Airtel, ITC and Titan are among the top movers.
Here's a look at the heatmap in the 50-scrip universe by weight:
Source: NSE
Share Market Today LIVE: Sensex falls 200 pts, Nifty above 19,500 dragged by IT, financial stocks
Nifty 50
Source: NSESensex
Source: BSE
Share Market Today LIVE | Oberoi Realty shares soar to record high; can you expect momentum to continue?
Property developer Oberoi Realty's shares scales a record high on Wednesday, continuing to rise for a fourth straight session on Dalal Street. The realty stock gained by as much as Rs 13.3, or 1.2 per cent, to touch an unprecedented Rs 1,160.3 apiece in intraday trade on BSE. The sustained buying interest in Oberoi Realty shares comes ahead of the onset of the festive season in the country, which typically sees consumers lining up their big purchases. Read more
Share Market Today LIVE | Vedanta shares inch higher after company regains control of Konkola Copper Mines
Shares of mining major Vedanta (VEDL) inch higher on Wednesday (September 6) after Zambia agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources. This ended a row over the ownership of the assets that erupted in 2019 when authorities seized the mines. The stock trades at Rs 242.1 apiece, up by Rs 0.7, or 0.29 per cent on the NSE. Read more
Stock to Buy | ITC, Sun Pharma, AB Fashion, Bank of India among analysts' top picks today
In conversation with Zee Business Managing Editor Anil Singhvi, market experts Kunal Saraogi, Kunal Shah, Vishvesh Chauhan, Siddharth Sedani and Sumit Bagadia share their top recommendations for the day in this special segment, Pick of the Day. On the top analysts' 'buy' list are stocks such as ITC, Sun Pharma, AB Fashion, Bank of India, Oberoi Realty, AB Fashion and UBL. Read more
Share Market Today LIVE | Oberoi Realty and Brigade hit 52-week highs amid positive outlook for realty market
Zee Business research analyst Aman Nahar has high hopes for the real estate market. He says that the market is in an upbeat mood, and, with the festive season just around the corner, there can be a growth of 15 to 20 per cent in real estate property inquiries. He said that momentum for the demand for property is already high, as it was up by 19.7 per cent year-on-year and 4.9 per cent quarter-on-quarter from April to June. The analyst says buyers are fast approaching real estate companies for inquiries, and high transaction volumes are expected to continue in real estate markets in Bengaluru, Mumbai, and Pune. Read more
Share Market Today LIVE | These five Nifty 500 stocks have gained up to 186% so far in 2023; here is what analysts suggest
Select Nifty 500 stocks have given skyrocketing returns in 2023. From JBM Auto to Polycab India, six stocks have given up to 186 per cent returns so far in 2023. But is there more stream left in them?
Here is what brokerages say:
JBM Auto
The auto component manufacturer's shares have soared over 186 per cent in 2023. The rally can be attributed to the company's entry into the electric vehicle segment, according to Nirmal Bang Securities. The brokerage said that the 5,000 EV bus order won by JBM Auto Limited and its subsidiaries has benefited the company.
Apar Industries
The aluminium and alloy conductor manufacturing company's stock has climbed over 170 per cent. Nirmal Bang Securities has given a 'buy' call on Apar Industries for a target price of Rs 5,415 apiece. The brokerage's outlook over the medium term remains strong due to healthy demand amid aggressive capex globally for Renewable Energy capacity addition, transmission expansion, infrastructure development, public transportation, and telecom pushes coupled with the benefits of China+1. Read more
Share Market Today LIVE | Jupiter Life Line Hospitals IPO hits Street; should you apply for it?
Jupiter Life Line Hospitals, a multi-specialty hospital chain operator, launched an initial public offer (IPO) on Wednesday, September 6. The initial share sale comprises fresh issuance of shares worth Rs 542 crore, and an offer for sale (OFS) worth Rs 327 crore by promoters and existing shareholders. Jupiter Life Line Hospitals shares are set to be listed on stock exchanges BSE and NSE on September 18.
Here are important things to know about the Jupiter Life Line Hospitals IPO:
Important dates:
The bidding process for the IPO will continue from 10 am to 5 pm for three trading days, till September 8. The basis of the allotment of shares under the IPO is likely to be finalised on September 13. Successful bidders are set to get shares credited into their demat accounts on September 15, whereas other participants will have refunds initiated the previous day, September 14.
Issue price: The company has set a price band of Rs 695-735 apiece for the IPO.
Lot size: Under the IPO, potential investors will be able to bid for Jupiter Life Line Hospitals shares in multiples of 20, translating to Rs 13,900-14,700 per lot. Read more
Share Market Today LIVE | Asian Paints, Berger Paints, MRF, Apollo Tyres under pressure amid jump in oil prices; ONGC, GAIL rise
Shares of paints, tyres, and oil marketing companies (OMCs) are trading mostly lower on Wednesday, September 6, after crude oil prices rose a dollar per barrel on Tuesday to their highest since November 2022 after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year, worrying investors about potential shortages during peak winter demand. However, aviation stocks such as SpiceJet and InterGlobe Aviation were trading in the green. Furthermore, ONGC, Oil India, and GAIL—oil exploration companies—were trading higher as they are key beneficiaries of rising oil prices. Read more
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 coming in at 19,465-19,525 levels and a strong buy zone at 19,385-19,435 levels on Wednesday, September 6. For the Nifty Bank, he expects support at 44,300-44,425 levels and a strong buy zone at 44,000-44,200 levels.
Read more on how Anil Singhvi views the Indian share market today and what he recommends
Traders' Diary | Buy, sell or hold strategy on ICICI Prudential, PowerGrid, Indian Hotels, NBCC, Shree Renuka, over a dozen other stocks today
In this edition of Traders' Diary, the Zee Business research team shares exclusive research on more than a dozen stocks that investors and traders can track on Wednesday, September 6. Check out which stocks are on analysts Ashish Chaturvedi and Varun Dubey's radar, and what they recommend in cash and derivative segments.
Here's the complete list of investment and trading ideas for the day:
Ashish Chaturvedi
- Buy Punjab & Sind Bank shares in the cash segment for a price target of Rs 41.2 with a stop loss at Rs 39
- Sell Asian Paints futures for a target of Rs 3,200 with a stop loss at Rs 3,255
- Buy the Rs 535 put option of ICICI Prudential for a target of Rs 17 with a stop loss at Rs 10
- Technical pick: Buy Kesoram Industries shares for a target of Rs 105 with a stop loss at Rs 92
- Fundamental pick: Buy ONGC shares for a target of Rs 192 with a perspective of 15 days
- Investment idea: Buy CAMS shares for a one-year target of Rs 2,950. Read more
- Buy the Rs 535 put option of ICICI Prudential for a target of Rs 17 with a stop loss at Rs 10
- Technical pick: Buy Kesoram Industries shares for a target of Rs 105 with a stop loss at Rs 92
- Fundamental pick: Buy ONGC shares for a target of Rs 192 with a perspective of 15 days
- Investment idea: Buy CAMS shares for a one-year target of Rs 2,950. Read more
Share Market Today LIVE | Nifty near 19,600, Sensex gains over 50 pts
Nifty 50
Nifty trades near 19,600, up 0.08 per cent in opening deals.
Source: NSESensex
Sensex trades at 65,842.37, up 0.09 per cent in opening deals.
Source: BSE
Pre-Opening Market Comment | A fresh spike in US 10-year and 2-year treasury yields could have a rub-off effect on global equities, says Prashanth Tapse
Prashanth Tapse, Senior VP (Research), Mehta Equities says that markets are likely to wobble in early Wednesday trades amid a mixed trend in the GIFT Nifty futures after US markets faltered in overnight trades.
"A fresh spike in US 10-year and 2-year treasury yields could have a rub-off effect on global equities, including India, as FIIs in such circumstances flee emerging markets to park their funds in safe haven US securities," the expert said.
"On the other hand, the FII selling spree continued as they sold to the tune of Rs 1,725 crore in yesterday's trade, after having sold shares worth Rs 20,620.70 crore in August. Besides, a surge in global crude oil prices after Saudi Arabia and Russia announced a further curb on production could dampen sentiment.” the expert added.
Stocks to Watch | SBI, GAIL, Bank of Baroda, Paytm, Voltas, ABB India, and Jio Financial Services among top stocks to track today
ZeeBiz takes you through the list of stocks that can stay in the limelight on Wednesday.
GAIL India
The CBI on Tuesday arrested an Executive Director of GAIL in connection with the alleged Rs 50 lakh bribery case in which money changed hands to favour some contractors in the gas pipeline projects. "Along with Executive Director (Projects) KB Singh of GAIL, four others have also been arrested, including Director of Vadodara-based Advance Infrastructures, Surender Kumar," officials said.
State Bank of India (SBI)
The Andhra Pradesh Food Processing Society (APFPS) and the State Bank of India (SBI) entered into an agreement on Tuesday to upgrade and support the establishment of at least 7,500 micro-food processing units in the state. The agreement will be executed in the 2023–24 fiscal under the Prime Minister Formalisation of Micro Food Processing Enterprises (PMFME) scheme.
Union Bank of India and Bank of Baroda
State-owned IREDA on Tuesday announced its partnership with public sector banks, Union Bank of India and Bank of Baroda, to co-finance renewable energy projects. In a statement on Tuesday, the Indian Renewable Energy Development Agency Ltd (IREDA) said it had signed a Memorandum of Understanding (MoU) with the Union Bank of India (UBI) and the Bank of Baroda (BoB). "These agreements will facilitate co-lending and loan syndication for a wide range of renewable energy projects," IREDA said.
Jio Financial Services
The stock will exit NSE after the market closes today.
Vedanta
Zambia has agreed to return control of Konkola Copper Mines (KCM) to Vedanta Resources, mines minister Paul Kabuswe said on Tuesday, ending a row over the ownership of the assets that erupted in 2019 when authorities seized the mines.
Tata Power
Tata Motors has signed a Power Purchase Agreement (PPA) with its subsidiary Tata Power Renewable Energy Ltd. The signed PPA is to set up a 12 MWp solar project at the Pune manufacturing facility.
BCL Industries
The company is planning to take the total group distillery capacity to 850 KLPD in two years. Read more
Dividend Stocks | Route Mobile, Bharat Rasayan, Yuken India among shares to trade ex-date today
A total of five stocks will trade ex-dividend on Wednesday, September 6, according to the NSE website. The list includes Route Mobile, Bharat Rasayan, Yuken India and other stocks.
Bharat Bijlee dividend
Bharat Bijlee has announced a dividend of Rs 40 per equity share with a face value of Rs 10.
Route Mobile dividend 2023 record date
Route Mobile has announced a dividend of Rs 2 per equity share with a face value of Rs 10. The record date is also September 6.
Yuken India dividend
Yuken India has announced a dividend of Re 0.8 per equity share with a face value of Rs 10. Read more
Source: Freepik/ Representational image Share Market Today LIVE | Nifty Bank weekly F&O expiry today
NSE announced its decision last month to revise the expiry day for the derivative contracts of its Nifty Bank index to Wednesday from Thursday. Those changes are due to take effect from September 6, 2023. Read more
Share Market Today LIVE | GIFT Nifty futures indicate a subdued start ahead on Dalal Street
GIFT Nifty futures — an early indicator of the Nifty 50 index — are up 6.2 points or 0.03 per cent at 19,656.5 ahead of the opening bell on Dalal Street.
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