Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Thursday’s trading session in the positive territory. The NSE Nifty 50 gained 211.90 points or 0.81% to settle at 26,216.05, while the BSE Sensex jumped 666.25 points or 0.78% to 85,836.12. The broader indices ended in mixed territory, with gain led by Large-cap and Mid-cap stocks. Bank Nifty index ended higher by 147.85 points or 0.36% to settle at 52,841.25. Metal and Auto stocks outperformed among the other sectoral indices while Pharma stocks shed.
The NSE Nifty 50 gained 211.90 points or 0.81% to settle at 26,216.05, while the BSE Sensex jumped 666.25 points or 0.78% to 85,836.12.
As of 3: 25 PM on the NSE, the top gainers included Maruti, which rose by 4.68%, followed by Mahindra & Mahindra (M&M) with a 3.23% increase. Grasim gained 3.17%, Tata Motors rose by 2.98%, and Bajaj Finserv saw an uptick of 2.95%. Conversely, the top losers were Cipla, which declined by 1.47%, L&T down 0.76%, ONGC fell by 0.59%, Hero Motocorp decreased by 0.48%, and Divi’s Lab dropped 0.36%.
As of 3:10 PM on September 26, 2024, the market outlook on the BSE showed that 1,668 stocks advanced, while 2,292 stocks declined, and 102 remained unchanged. A total of 4,062 stocks were traded during the session. Notably, 251 stocks reached a 52-week high, whereas 45 hit a 52-week low. Additionally, 313 stocks traded in the upper circuit, while 254 faced restrictions in the lower circuit.
Datamatics Global Services has received a Demand Notice under Section 156 of the Income Tax Act, 1961, from the Income Tax Department, demanding a total sum of Rs 3,18,21,170. This amount includes Rs 60,91,966 and Rs 2,57,29,200, which was previously refunded to the company. The demand pertains to the assessment year 2021-22. Currently, Datamatics Global’s stock is trading at ₹626.25 on the NSE, down by 0.92%.
Top gainers among Nifty Auto stocks today include Maruti, which rose by 4.46%, followed by Motherson with a gain of 2.74%. Tata Motors increased by 2.58%, while Mahindra & Mahindra (M&M) saw a rise of 1.67%.
Central Depository Services (CDSL) has announced a revised uniform tariff structure for its 13 crore investors, effective from October 1, 2024. Under the new structure, there will be a standardized charge of Rs 3.5 per debit transaction, the company stated on Thursday, September 26.
Marine Electricals (India) Ltd has secured an order from the Ministry of Defence, Sri Lanka, for two ships valued at €1,559,175.68 (approximately Rs 14.54 crore). The order involves the procurement, supply, installation, testing, and commissioning of marine diesel engines and gearboxes, along with associated accessories for Sri Lanka Navy ships. The delivery is scheduled to occur over the next eight months. Currently, Marine Electricals’ stock is trading at Rs 222.50 on the NSE, down by 1.66%.
Reliance Power has announced that the National Company Law Tribunal (NCLT) in Mumbai has approved the withdrawal of the application filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, by CFM Asset Reconstruction Private Limited against the company. Following this development, RPower shares are trading at the upper circuit on the NSE, priced at Rs 44.15.
Ceinsys Tech Limited has received a letter of acceptance from CIDCO, selecting the company as the service provider for the implementation of an Integrated GIS Enterprise project valued at Rs 29.20 crore. Currently, Ceinsys Tech’s stock is trading at Rs 729 on the BSE, down by 1.82%.
Nifty Metals are contributing a lot to the rangebound rally of Nifty. Vedanta, Tata Steel, Hindalco, and others are contributing to the Nifty Metal to trade above 1%.
Courtesy: NSE
Shares of Cipla fell 2.5% to an intraday low of Rs 1,602.30. The stock was the major laggard in the Nifty 50. The company touched its 52-week low of Rs 1,132, on October 26, 2023, almost a year back. The lower band for the stock is placed at Rs 1,478.90.
Maruti Suzuki, M&M, and Tata Motors are the top three contributors to the Nifty Auto index. Meanwhile, Bharat Forge, Hero MotoCorp, and Balkrishna Industries were dragging the index.
Courtesy: NSE
Shares of Tata Motors rose 2.4% to an intraday high of Rs 986.40. The stock was the top gainer in the Nifty 50. The stock saw a continuous downfall after a brokerage house gave it a “Sell” rating. However, the stock has seen some buying in the last few days.
Krsnaa Diagnostics‘ stock rose 1.28% on the NSE, trading at ₹848.90, following the company’s board approval for an investment in the equity share capital of Apulki Healthcare Private Limited.
Several stocks on the NSE hit their 52-week high today, including Newgen Software with a 12.56% rise, Surana Solar up 5%, Reliance Power climbing 4.99%, Bikaji gaining 2.20%, Trent rising 2.04%, Dalmia advancing 1.72%, and Bajaj Finserv up 1.27%.
Comening on the gold outlook Renisha Chainani, Head Research – Augmont – Gold For All said that The gold price continues to trade in a confined range near the all-time peak around $2695 (Rs 76000), with a cushioned downside. Expected Fed rate cuts of 50 basis points in November have weakened the Dollar Index and boosted gold prices. The US Dollar is struggling to maintain its rebound gains due to dovish Federal Reserve predictions, which have supported Gold prices. As a result, Fed Chair Jerome Powell’s speech today will be widely watched for new clues regarding the future rate-cut path and to decide the near-term outlook for gold.
Chainani also adds that Rising tensions in the Middle East and fears about China’s economic recovery, despite recent stimulus plans, support the safe-haven precious metal market. After touching the $2650 resistance, gold prices continue their bullish momentum to $2700 (~Rs 76000). Prices are in the overbought zone and we can see a retracement up to $2600 (~Rs 73500) and $2500 (~Rs 71000) anytime soon.
Avantel Ltd has secured a purchase order worth Rs 3.45 crore from Bharat Electronics Limited (BEL). Despite the announcement, shares of both Avantel and BEL remained flat on the NSE, trading at Rs 176.98 and Rs 290.10, respectively.
Hinduja Global Solutions has clarified that it has not received any written communication from the Income Tax authorities regarding a news report alleging the company’s involvement in a Rs 2,500 crore tax evasion case. Despite the news, shares of the company traded at Rs 832.45 on the NSE, up 2%.
Citi has set a target price of Rs 9,250 for Trent, implying an upside potential of 21.5% from the stock’s last close at Rs 7,615 on the NSE. Trent shares have already shown impressive performance this year, rising a remarkable 150% since the start of 2024.
According to Citi, the company is well-positioned to scale up other pilot projects, such as MISBU, Samoh, and its joint venture with MAS. These initiatives have led Citi to include Trent in its Pan-Asia high-conviction focus list, reflecting its confidence in the company’s future growth trajectory.
CDSL has announced a uniform tariff of Rs 3.50 per debit transaction. The revised tariff will be effective from October 01, 2024. Shares of CDSL rose 0.5% to an intraday high of Rs 1,513.50.
Shares of Maruti Suzuki rose as much as 3.2% to hit an intraday high of Rs 13,194. The stock was the top gainer in the Nifty 50. It is 3.6% away from its all-time high of Rs 13,680, which it touched on August 01, 2024.
Infosys, ICICI Bank, Maruti Suzuki, Bharti Airtel, and Tata Motors pull up the markets.
Courtesy: NSE
Diffusion Engineers’ IPO opened on September 26 and aims to Rs 158 crore by selling 9.4 million fresh shares. The IPO will close on September 30. Diffusion Engineers is the manufacturer of welding consumables, wear plates and parts, and heavy machinery for core industries.
Trent Limited shares surged over 4% to RS 7,939 in morning trade on September 26, marking a bullish start on the bourses. The stock’s rise followed Citi’s initiation of coverage with a ‘buy’ recommendation, citing strong growth triggers ahead for the company.
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Shares of Indian Energy Exchange (IEX) Ltd. have witnessed a sharp 17% decline over the last two trading sessions. The drop comes amid concerns after government officials indicated that market coupling would eventually be implemented. Despite the recent stock slump, brokerage firm Investec has initiated a ‘Long FAST’ rating on IEX, setting a price target of Rs 215.
SBI Life Insurance, Tata Consumer Products, Nestle India, Tata Motors, and Maruti Suzuki India are the top gainers on NSE Nifty 5o index whereas the top laggards include Hero Moto Corp, ONGC, Hindalco, Tata Steel, and Mahindra % Mahindra.
Shares of mining conglomerate Vedanta jumped a percent higher to Rs 484.55 on NSE after the company announced that its board of directors will meet on October 8, 2024, to deliberate on the declaration of a fourth interim dividend for the financial year 2024-25.
The NSE Nifty 50 opens up by 1.25 points at 26,005.40, while the BSE Sensex opens marginally lower by 2.30 points to 85,167.56 in the opening trade.