Sep 25, 2023, 3:55 pm IST
Vinod Nair, Head of Research at Geojit Financial Services
The day presented a mixed picture in the market, with sectors such as Realty, Banking, and Consumer Durables performing well while IT and Pharma struggled. Investors were actively repositioning, shifting away from stocks tied to the global economy and focusing on the domestic economy. Concerns loomed over a potential global economic slowdown due to the prolonged period of high interest rates. While the domestic market is witnessing good registration and consumption demand ahead of the festival season, India's entry into JP Morgan's Emerging Markets Government Bond Index is benefiting the financial sector in anticipation of a reduction in funding costs.
Sep 25, 2023, 3:42 pm IST
Market Closing: Sensex, Nifty Closed In Green, Realty Stocks Outperform
Benchmark indices ended on a flat note on Monday. At the time of closing NIFTY 50 ended 1.30 points or 0.0066% higher at 19,675.55 while Sensex closed up by 66,022.61 up by 13.46 points or 0.020%. Asian Paints and the Bajaj twins were among the top gainers among the Nifty50 stocks. On the Nifty pack top 5 gainers were Bajaj Finance, Tata Consumer Products, Bajaj Finserv, Apollo Hospital and Coal India, while the top 5 losers were Hindalco, SBI Life, Here Motocorp, Infosys and M&M. Nifty Realty was the top sector gainer, with Nifty Bank rising 154 points to 44,766 along with the Midcap Index, which gained 267 points to 40,406.
Sep 25, 2023, 3:30 pm IST
Oil prices rose on Monday as investors focused on a tighter supply
Oil prices rose on Monday as investors focused on a tighter supply outlook after Moscow issued a temporary ban on fuel exports while remaining wary of further rate hikes that could dampen demand.
Brent crude futures climbed 71 cents, or 0.76%, to .98 a barrel after settling 3 cents lower on Friday.
U.S. West Texas Intermediate crude futures extended gains for a second session, trading at .63 a barrel, up 60 cents, or 0.67%.
Sep 25, 2023, 2:56 pm IST
LIC-Backed Bank Stock Hit 52-Week High
Midcap private sector bank South Indian Bank made a fresh 52-week-high today. The stock opened on the BSE at Rs 27.12 apiece and made a fresh 52-week-high of Rs 27.48 during the morning deals.
Sep 25, 2023, 2:40 pm IST
Ashish Kacholia Stock Inks Partnership With Havells
Small-cap firm Inflame Appliances Ltd operates in the consumer discretionary industry. The company and Havells have announced a cooperation for kitchen appliances. The company has an agreement with Havells for the supply of oven toaster grills (OTGs) and chimneys that has been approved as a supplier.
Sep 25, 2023, 2:20 pm IST
Top 5 Gainers and Losers Today
Source: NSE
Sep 25, 2023, 1:46 pm IST
Shree Renuka Shares Soar Over 3% Today, Here's Why
The share price of Shree Renuka Sugars Limited gained over 4% at one point in today's intraday trading session. The surge in the stock's share price was seen after Board of the Directors of Shree Renuka Sugars Limited gave the nod to acquire Anamika Sugar Mills for Rs 235.5 crore. In an exchange filing on September 23, the company said that the Board has approved the infusion of up to INR 110 crores in Anamika by way of subscription to equity shares of Anamika for the purpose of redemption of 100% of the outstanding cumulative redeemable preference shares (CRPS) issued by Anamika in favor of SICPA India Private Limited. At 1:44 pm IST today, the stock was trading 3.33% higher at Rs 56.10 per share on BSE.
Sep 25, 2023, 1:28 pm IST
Indian Rupee Gives Up Gains; Falls 19 Paise At 83.12 Against US Dollar
On Monday, the Indian rupee shed earlier gains that came from JPMorgan's inclusion of Indian Government Bonds in its emerging-markets index.
According to Reuters, at 11:00 a.m. IST today, the rupee was at 83.12 against the US Dollar, compared with 82.93 in the previous session. The domestic unit strengthened to 82.8225 on Friday after there was news that Indian bonds will be included in JPMorgan's widely-tracked emerging market debt index.
Sep 25, 2023, 12:48 pm IST
IRCON Shares Gain 2 Percent On Executing Contract Agreement With Sri Lanka Railways
The share price of IRCON International Limited gained almost 2% at Rs 144.00 per share in the intraday trading on Monday. IRCON shares remained on investors' radar today after the PSU firm said that it has executed the contract agreement with Sri Lanka Railways, Ministry of Transport, Sri Lanka for the work of procurement of Design, Installation, Testing, Commissioning, and Certifying of Signalling and Telecommunication system from Maho Junction (Including) to Anuradhapura (Excluding) under Indian Line of Credit at a total price of USD 14.89 Million equivalent to approx. Rs 122 Crore on September 21, 2023.
Sep 25, 2023, 12:33 pm IST
Anurag Bhagania Steps Down As CFO Of Kirloskar Oil Engines, Stock Up 1.80 Percent
The share price of Kirloskar Oil Engines Ltd grabbed investors' attention on Monday after the company informed that Anurag Bhagania has tendered his resignation from the Post of Chief Financial Officer (CFO) and Key Managerial Person (KMP) of the company, due to personal reasons. At 12:30 a.m. IST today, the stock was up 1.70% at Rs 490.00 per share.
Sep 25, 2023, 12:20 pm IST
SBI Shares Trade In Red After State-Owned Lender Raises Rs. 10,000 Crore Via Infra Bonds; Stock Down Almost 1 Percent
State-owned lender, SBI has raised Rs. 10,000 crores at a coupon rate of 7.49% through its fourth infrastructure bond issuance. Today, SBI shares were spotted trading 0.94% lower at Rs 592.50 per share at 11:13 am IST. The last 6-month returns from the bank have increased almost 16%.
Sep 25, 2023, 11:57 am IST
L&T's Rs 10,000 Crore Share Buyback Program Closes Today, Shares Down 1.32%
Larsen & Toubro's (L&T's) Rs 10,000 Crore share buyback offer that commenced on September 18, will close today. Willing investors can tender their shares in the buyback until the end of today's trading session. Larsen & Toubro shares were down 1.32% at Rs 261.15 per share at 11:55 am IST today.
Sep 25, 2023, 11:43 am IST
Sanofi India Shares Remain In Focus On Receives Demerger Scheme Observation Letters From Indian Bourses
The share price of Sanofi India remained in focus on Monday after the company informed via an exchange filing on Friday that has had received an observation letter with “no adverse observations” dated 22nd September 2023 from BSE Limited and observation letter with “no objection” dated 22nd September 2023 from National Stock Exchange of India Limited respectively in relation to the Scheme. At 11:35 am IST today, the share price of Sanofi India was almost flat at Rs 7102.10 per share.
Sep 25, 2023, 11:15 am IST
Nifty 500 Top Stock Gainers
Source: Moneycontrol
Sep 25, 2023, 10:58 am IST
Nifty Smallcap 100 Top Stock Losers
Source: Moneycontrol
Sep 25, 2023, 10:58 am IST
Bajaj Finance Shares Rise Over 4.50%: Here’s Why?
On Monday morning's BSE early trade, the share price of Bajaj Finance jumped by more than 4.50%. The stock climbed more than 4.57 percent to touch the intraday high of Rs 7815 in today's trade, opening on the BSE at Rs 7,594.95 vs the previous close of Rs 7,472.50.
“Pursuant to Regulation 29(1)(d) of the SEBI Listing Regulations, we wish to inform you that a Meeting of the Board of Directors (the "Board") of Bajaj Finance Limited (the "Company") will be held on Thursday, 5 October 2023 to consider, inter alia, proposal for raising of funds through any or all of various methods including by way of preferential issue, qualified institutions placement, subject to such regulatory/statutory approvals as may be required, including approval of the shareholders of the Company. The Trading Window for dealing in the securities of the Company will be closed from 22 September 2023 till Saturday, 7 October 2023 (both days inclusive) in terms of the Company's Code of Conduct framed pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended,” said the company in a stock exchange filing on Friday.
Sep 25, 2023, 10:37 am IST
Shree Cement Board Approves Rs 700 Crore Fund Raising Plan
With a base issue size of Rs. 350 crore with an option to retain oversubscription upto Rs. 350 crore aggregating to a total Issue size upto Rs. 700 crore., the cement maker will issue secured, rated, redeemable, taxable, Non-Convertible Debentures (NCDs). A private placement will be used to issue NCDs to certain eligible investors. As per the data available on BSE, the NCDs are proposed to be listed on debt segment of BSE and NSE, and the deemed date of allotment is 26.09.2023 while 26.10.2030 has been fixed as the date of maturity.
Sep 25, 2023, 10:28 am IST
Delta Corp Drops 18 percent, Federal Bank Slips 1 percent
Shares of Delta Corp dropped over 18 percent after a massive block deal. Around 8.49 million shares or 3.2 percent stake of the company changed hands in 3 block deals, Bloomberg reported. Shares of Federal Bank was also down 1 percent after a block deal.
Sep 25, 2023, 9:45 am IST
Indices Open Flat, Religare in Focus
Sensex a tad down at 65,970 ; Bajaj Finance, Maruti top gainers; Axis Bank, L&T lag. Religare is in focus after Burman family, which holds a controlling stake in Dabur, on Monday, announced an open offer for a 26 percent stake in diversified financial services group Religare Enterprises.
Sep 25, 2023, 9:24 am IST
Rupee Opens Lower Against US Dollar
On Monday, the Indian rupee began the day 11 paise weaker than the US dollar. The Indian currency's opening level was 83.04 against the dollar's closing price of 82.93 on Friday. The rupee gained 16 paise on Friday to close at 82.93 to the dollar. Domestically, the Sensex and Nifty 50 stock benchmark indices were trading flat during the pre-opening session.
Sep 25, 2023, 8:49 am IST
Bank Nifty Prediction Today
Santosh Meena, Head of Research, Swastika Investmart Ltd believes that Banknifty has experienced a sharp correction with a double top formation at the 46300 level. It is currently trading near the critical support of the 100-day moving average (DMA) at 44500, where a bounceback is anticipated. Below 44500, the 44000–43700 range will be the next support zone. Resistance levels on the upside are anticipated at 45000 and 45500.
Arvinder Singh Nanda, Senior Vice President, of Master Capital Services Ltd said, “Bank Nifty also fall during the week, closing with a loss of more than 3.50% and break the previous week's low price. It appears to have established a robust demand zone within the 43800-44000 range, making it an opportune area to initiate buying positions price drop to that level. Looking ahead, it's important to note that there is a resistance level expected at 45800-46000, which could pose a challenge for further upward movement in the index.”
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