Sensex today ended the day with attractive rally of 1439 points or 1.77% to 82,962 and Nifty 50 climbed 363 points or 1.89% to 25,388 on Thursday (September 12, 2024). Nifty Bank surged 762 points to 51,772 and Nifty Midcap gained 702 points to 59,640on September 12, 2024. Shares of Bharti Airtel and Hindalco rallied over 4% today, Granules India shares today slipped 16% and hit lower circuit to 564.00 per share on BSE after US Food and Drug administration (USFDA) issued six observations to its Gagillapur facility in Hyderabad, Telangana following an inspection conducted from August 26 to September 6.
Earlier, the stock market continued its bullish trend, fueled by positive investor sentiment and strong corporate earnings. However, the volatility persists. The benchmark indices, Sensex and Nifty 50, registered notable gains, reflecting a broader bullish trend in the market.
The Sensex is currently holding above 81,600 levels, while Nifty is playing tug between 24,900-25,000. Kotak Bank, M&M, NTPC, and Bharti Airtel are top gainers.
Among the leading gainers, Bajaj Auto continued its impressive run, extending its rally for the fourth consecutive session. The company's stock reached a new all-time high, with strong demand and positive market sentiment. Other notable outperformers included Aurobindo Pharma, L&T Finance, Oracle Financial Services, and LIC Housing Finance. These companies showcased robust growth prospects and outperformed the broader market, contributing to the overall positive sentiment.
Most sectoral indices traded in the green, indicating a broad-based rally across various sectors. Nifty Bank gained 0.40%, Nifty IT also saw a positive uptick of 0.20%.
The Indian benchmark indices opened on a positive note following a rally in global markets after the US August inflation report. In the opening bell, Sensex opened above 400 points higher while Nifty opened above 25,000 level. Tata Steel, Hindalco Industries, Shriram Finance, Bharti Airtel and ONGC were the top 5 gainers while Asian Paints, Nestle India, Hindustan Unilever, Tata Motors and M&M were the top 5 losers under the Nifty 50 index.
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Sep 12, 2024, 3:22 pm IST
Motisons Jewellers Share Price In Upward Trend On Reporting Strong Financials
Shares of Motisons Jewellers Ltd witnessed a remarkable surge today, rising by approximately 7% to Rs 251.99 per share, up from its previous closing price of Rs 234.58. This growth comes on the back of impressive returns, with the stock delivering a multibagger performance-gaining 67% over the past six months and a staggering 140% over the last year.
The rally follows the release of the company's annual report, which highlighted strong financial performance for the fiscal year 2023-24. Motisons Jewellers reported a total income of Rs 41.71 crore, up from Rs 36.68 crore in the previous financial year. Net profit also saw a substantial increase, reaching Rs 3.22 crore for the year, compared to Rs 2.21 crore in the previous year, reflecting the company's continued growth in a competitive market.
Sep 12, 2024, 2:57 pm IST
Kalpataru Projects Shares Jump On 2774 Cr Order Win
Mid cap company operating in the power sector, Kalpataru Projects International Ltd (KPIL) shares prices today witnessed rally after the company bagged orders worth 2774 crore. Current market price of KPIL share price on BSE is Rs 1366.15 per share. Kalpataru Projects International shares witnessed rally of 90% so far this year and gained 114% in last 1-year. The company’s market capitalisation stood at Rs 22,185.27 crore. The company declared Rs 8 per share dividend in 2024 and shares traded ex-dividend on June 28, 2024. Check details below:
Kalpataru Projects International Bags New Orders: As per the regulatory filing of Kalpataru Projects International dated September 12, 2024, “Kalpataru Projects International Limited (KPIL), one of the largest Engineering & Construction companies listed in India along with its international subsidiaries have secured new orders/notification of awards of Rs 2,774 crores.
Sep 12, 2024, 2:38 pm IST
Gold Prices Drop In India, Sept 12: Yellow Metal Prices Fall, Silver Prices Steady
Gold prices in India today declined after the US inflation data pushed traders to scale back prospects of an oversized rate cut from the upcoming Federal Reserve meeting scheduled to take place in September’s next week. Meanwhile, the US dollar and Treasury yields firmed. 22k gold prices today slipped by Rs 100 to Rs 67,050/10 grams and 100 grams of 22 carat yellow metal prices fell by Rs 1000 to Rs 6,70,500. 24k gold prices today dipped by Rs 100 to settle at Rs 73,150/10 grams and 100 grams of precious metal prices today declined by Rs 1000 to Rs 7,31,500.
18k gold prices today dived by Rs 80 to Rs 54,860/10 grams and 100 grams of 18 carat yellow metal prices today stood at Rs 5,48,600 after fall of Rs 800. 1 gram gold rate today for 22k gold prices dipped by Rs 10 to Rs 6705 and 1 gram gold price today for 24k gold prices slipped by Rs 10 to Rs 7,315. Meanwhile, 1 gram gold prices today for 18 gram gold stood at Rs 5,486 after dip of Rs 8 in India.
Sep 12, 2024, 2:37 pm IST
Maharashtra Scooters Sets Sept 25 As Record Date For Rs 110/Sh Dividend
Mid cap holding company Maharashtra Scooters Ltd today fixed September 25, 2024 as the record date for an interim dividend of Rs 110 (110%) for the financial year ended March 31, 2024. The dividend will be credited/dispatched on or around October 10, 2024, as per the BSE filing of Maharashtra Scooters. Current market price of Maharashtra Scooters Ltd shares on BSE is Rs 10,272.95 per share with marginal gain of 0.20% in trade today. Maharashtra Scooters shares climbed 40% so far this year and soared 124% in 2-years. Maharashtra Scooters shares already jumped 53.28% from 52-week low price of Rs 6702.00 per share that it hit on March 19, 2024. Maharashtra Scooters has a market capitalisation of Rs 11,740.51 crore.
Sep 12, 2024, 1:20 pm IST
125 Stocks Hit New 52-Week Highs
On September 12, on NSE, somewhat 125 stocks have touched new 52-week highs. Some of the popular stocks are ADF Foods, Ajanta Pharma, Bajaj Auto, Bharti Airtel, Divis Lab, Coforge, Havells, ICRA, IEX, and Jubilant Pharmova among others.
Sep 12, 2024, 12:29 pm IST
Minda Corp Jumps
The share price of Minda Corp rises by 2.5% on exchange. This comes after the company's board approves fundraising of Rs 1,000 crore through issue if shares, qualified institutional placement.
Sep 12, 2024, 11:49 am IST
KPIL Awarded New Orders Of Rs. 2,774 Cr
Kalpataru Projects International Limited (KPIL), one of the largest Engineering & Construction companies listed in India along with its international subsidiaries have secured new orders/notification of awards of ₹ 2,774 Crores. Manish Mohnot, MD & CEO, KPIL, said, “We are pleased with the continuous ordering momentum especially in our Transmission & Distribution (T&D) and Buildings and Factories (B&F) business. The prestigious order from Airports Authority of India (AAI) will mark our entry in the growing domestic airport sector and further diversifies our clientele. The orders in the T&D and B&F business have further enhanced our market position and significantly strengthen our order book, thereby improving the growth visibility for these businesses going forward.
Sep 12, 2024, 11:33 am IST
Shree Tirupati Balajee Makes Tepid Debut On Exchanges At 8% Premium From IPO Price
Shree Tirupati Balajee Agro Trading Company Limited, a player in industrial packaging solutions, made a subdued debut on the stock exchanges today. The company's stock is listed at Rs 90 on the National Stock Exchange (NSE), marking a premium of 8.4% over its issue price of Rs 83 per share. On the Bombay Stock Exchange (BSE), the stock opened at Rs 92.9, a premium of 11.93%.
Gold Prices In India Today Slips Slightly On 12th September
Yellow metal prices in India today for 10 grams of 24-carat are Rs. 73,150/- and Rs. 67,050/- for 10 grams of 22-carat gold. India gold prices today have dropped by Rs.100/- per 10 grams for pure gold and standard gold.
Cressanda Railway Solutions Lands Prestigious Contracts For High-Impact Train Wrap Advertising With Maharashtra Tourism And Bureau Of Indian Standard
Cressanda Railway Solutions Limited has secured notable contracts from two distinguished clients: the Directorate of Tourism, Maharashtra, and the Bureau of Indian Standards. These contracts involve the installation of external wraps on 16 express trains and 1 express train, respectively. The selected trains are premium, long-distance services, catering to high-end passengers traveling to various destinations. The use of transit media for promotion highlights a strategic choice by these government organizations to reach a broad audience through visible and impactful advertising. This initiative aims to effectively promote new campaigns and enhance public awareness
Sep 12, 2024, 10:13 am IST
Inox Wind’s EPC Projects Arm Resco Global Completes Rs 350 Crore Equity Raise
Pursuant to its board meeting held on September 2, 2024, Resco Global Wind Services Pvt. Ltd., an EPC Projects subsidiary of Inox Wind Limited, announced today that it has completed Rs 350 cr equity raise from marquee investors and issued securities in lieu of the funds raised. Key investors who participated in this equity raise included: Valrado Venture Partners Fund II, Anchorage Capital Scheme I - (A Scheme of Anchorage Fund), JM Financials Products Limited, Founders Collective Fund, One Up Financial Consultants Pvt. Ltd., Authum Investments & Infrastructure Ltd., Capri Global Holdings Private Limited.
Sep 12, 2024, 9:52 am IST
JSW Steel Declares Consolidated Crude Steel Production of 23.16 Lakh Tonnes For August
Consolidated crude steel output for August 24 was recorded by JSW Steel at 23.16 lakh tonnes. The company increased its capacity at BPSL from 3.5 MTPA to 4.5 MTPA by commissioning all main production facilities.
Sep 12, 2024, 9:32 am IST
Nifty/Sensex Open Higher Tracking Positive Global Cues
Nifty/Sensex began higher on Thursday following a rebound in global markets, with Asian markets, including South Korea, Taiwan, Japan, and Japan, rising by 1% to 2%. At 25,036.40, the Nifty 50 index is trading up 117.95 points, or 0.47%. In the initial session, Sensex increased by 402 points to 81,925.94.
Sep 12, 2024, 9:07 am IST
Nifty Key Support & Resistance Zone Today
Hashim Yacoobali, Director of South Gujarat Shares And Sharebrokers said, Nifty was unable to cross the resistance zone of 25113 – 25161. Registered high of 25113 and witnessed profit booking. On the downward side 24831 – 24792 will act as a major support zone. Fresh supply pressure is possible below this zone. On the upward side 25113 – 25161 will act as a major resistance zone. Nifty trading at crucial level. Violation of above mentioned support / resistance zone will see fresh momentum. As of trading in equilibrium zone.
Sep 12, 2024, 8:58 am IST
Sectors/Stocks To Focus Today As Guided By Aditya Gaggar, Director of Progressive Shares
Mid and Smallcap-led corrections dragged the index lower to end 11th September trade at 24,918. The Index is finding it difficult to overcome its strong hurdle of 25,100 and for strong momentum, moving out of the mentioned resistance is a must while on the lower side, a level of 24,800 will serve as immediate support. For BankNifty, the immediate resistance and support are at 51,350 and 50,800 respectively. We continue to hold our positive stance on the FMCG, IT and Pharma sectors; and on the flip side, Metal and PSU Banking segments are witnessing correction.
Sep 12, 2024, 8:38 am IST
Lemon Tree Hotels Announced Its New Property In Pune
On Wednesday, Lemon Tree Hotels revealed the incorporation of Lemon Tree Hotel, Pune. It is anticipated that the property would open in Fiscal Year 2026 and be operated by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited.
Sep 12, 2024, 8:21 am IST
Canara Bank Shares In Focus
Canara Bank on Wednesday raised US0 million Senior Unsecured Fixed Rate Notes at a coupon rate of 4.896%, Fixed, semi-annual, 30/360.
Sep 12, 2024, 8:03 am IST
Inox Wind Shares In Focus
Inox Wind Limited's EPC Projects subsidiary, Resco Global Wind Services Pvt. Ltd., stated today that it succeeded in raising Rs 350 cr in equity from renowned investors against securities. Some of the allottees are Valrado Venture Partners Fund II, Anchorage Capital Scheme I - (A Scheme of Anchorage Fund), JM Financials Products Limited, Founders Collective Fund, One Up Financial Consultants Pvt. Ltd., Authum Investments & Infrastructure Ltd and Capri Global Holdings Private Limited.
Sep 12, 2024, 7:54 am IST
Bank Nifty Prediction Today
To reignite bullish momentum, Nifty Bank would need to close above the crucial 51,400 level. The decline was primarily driven by weakness in public sector banks, which weighed on the index. The daily Bollinger Bands are contracting, signalling uncertainty or indecision in the market. In the short term, Nifty Bank may remain range-bound within 50,650 as support and 51,380 followed by 51,500 as resistance, Om Mehra stated.
Sep 12, 2024, 7:54 am IST
Nifty Prediction Today
A red candle was formed on the daily chart, breaking the previous sessions’ low of 24,896.80. Over the past couple of days, every attempt to breach last Friday’s high of 25,169 was met with intraday selling pressure. Nifty is oscillating in a defined range with 25,000 acting as a median level, indicating strength, if positioned above it and weakness below it. The 20 DMA is placed around 24,800 and weakness could persist, if the index falls below this level, while a close above 25,100 would be required to regain strength, predicted Om Mehra, Technical Analyst, SAMCO Securities.
Sep 12, 2024, 7:54 am IST
Bank Nifty Options Market Insights
Significant open interest is concentrated at the 51,100 Call (71.67 lakh contracts) and 51,000 Put (1.36 crore contracts), indicating a neutral outlook as traders adjust positions at higher levels. Active trading is centred around the 51,100-51,200 Calls and 50,900-50,800 Puts. The Put-Call Ratio (PCR) has dipped slightly from 0.76 to 0.84, signalling a sideways to bearish sentiment, with call writers maintaining dominance at higher levels. The Max Pain point remains at 51,000, a key level for any potential market shift, commented Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
Sep 12, 2024, 7:54 am IST
Bank Nifty Outlook
The outlook for Nifty Bank has turned bullish-to-sideways, with the 50,800 level serving as a strong base where put writers have built significant positions. The index is witnessing strong selling pressure from the 51,400 level and support from 50,800, creating a defined trading range. A breakout on either side could drive momentum, but range-bound trading is expected as long as the price remains stuck between these levels, said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
Sep 12, 2024, 7:53 am IST
Nifty Options Market Insights
Bearish sentiment continues to dominate despite Nifty’s close above 25,000, with call writing persisting for the tenth consecutive day, signalling caution on further up moves. Significant open interest is observed at the 24,500 Put (69.91 lakh contracts) and 25,000 Call (1.16 crore contracts), reflecting a bearish outlook as sellers hold strong positions at lower levels. Active trading is concentrated around the 24,900-24,950 Calls and 24,700-24,800 Puts. The Put-Call Ratio (PCR) dropped to 0.60 from 0.78, highlighting a cautious market environment with call writers in control. The Max Pain level remains at 25,000, a critical point for any potential trend reversal, said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
Sep 12, 2024, 7:53 am IST
Nifty Outlook Today
The market appears to be shifting into a sideways-to-bullish phase, with Nifty trading within a defined range and forming a strong base around 24,750, while facing resistance at 25,150. Buyers are still holding firm at lower levels, making a buy-on-dips strategy favourable for the index. The 25,000 level, with the highest call writing, will be crucial in the upcoming session, and a sustained move above this level could trigger a strong recovery in the index, said Dhupesh Dhameja, Technical Analyst, SAMCO Securities.
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