Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed the trading session on a lower note on September 04. The BSE Sensex fell 73.60 points or 0.29% to finish the day’s trading at 82,384.12. The NSE Nifty 50 closed 74 points or 0.29% lower at 25,206.25. The Bank Nifty closed the day 0.59% or 305.40 points lower at 51,689. The Nifty Midcap 100 closed 57.85 points or 0.10% higher at 59,240.
The global healthcare company announced that it has received an income tax refund of Rs 222.23 crore for the assessment year 2022-23. The refund was issued by the Income Tax Department under Section 143(3), and includes interest, according to the company’s statement.
“This Wednesday morning, markets are sending mixed signals. Wall Street traded with a negative bias due to renewed recession fears following weak US manufacturing data. On the positive side, WTI oil prices dropped below $71 a barrel, an eight-month low, and FIIs purchased Rs 1,029 crores in stocks yesterday. For Nifty and Sensex to bounce, they must break their all-time highs, with strength confirmed only above Nifty 25,334. Investors are also eyeing the upcoming US jobs report, which may pause Nifty’s 14-day winning streak,” said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
The company has signed a Memorandum of Understanding (MoU) with the Department of Water Resources (WRD) of the Maharashtra Government to establish energy storage systems, including pumped storage systems, along with other renewable energy sources such as solar, wind, and hybrid projects. The total capacity of these projects is set to reach 7,350 MW.
The NSE added Aditya Birla Fashion & Retail, Balrampur Chini Mills, and Hindustan Copper in the F&O Ban on September 4, 2024.
Foreign institutional investors (FII) bought shares worth Rs 1,029 crore, while domestic institutional investors (DII) mopped shares worth Rs 1,896 crore on September 3, 2024, according to the provisional data available on the NSE.
In August 2024, the company reported significant growth, with total volumes reaching 12,040 million units (MU), a 35.8% year-on-year increase. Electricity volumes rose to 9,914 MU, reflecting a 17.1% YoY growth. The renewable energy certificate (REC) segment delivered a standout performance, surging 737.4% YoY to 2,116 MU.
The bank has officially applied to the Reserve Bank of India (RBI) for approval to transition from a small finance bank to a universal bank. This follows the RBI’s April 26, 2024, invitation for small finance banks that meet specific criteria, including a minimum net worth of Rs 1,000 crore, to apply for universal bank status.
The Indian government is set to launch an offer to sell its stake in the General Insurance Corporation of India (GIC Re) on Wednesday. This stake dilution will reduce the government’s holding by nearly 7%, marking the first such reduction since GIC Re’s initial public offering (IPO).
Shares across the Asia-Pacific region are trading in negative territory on Wednesday morning. The Asia Dow is down by 1.30%, while Japan’s Nikkei 225 has dropped 2.89%. South Korea’s KOSPI index is trading lower by 2.59%, and China’s benchmark Shanghai Composite is also in the red, down by 0.89%.
WTI crude prices are trading at $70.11, down 0.16%, while Brent crude prices are at $73.61, down 0.08%, as of Wednesday morning.
Wall Street’s main indexes fell sharply on Tuesday, with the S&P 500 down more than 2% and the Nasdaq Composite losing over 3%, as investor optimism about AI cooled amid a broad market sell-off. The decline accelerated after disappointing economic data. The tech-heavy Nasdaq Composite dropped 577.32 points, or 3.26%, closing at 17,136.30. The S&P 500 fell 119.47 points, or 2.12%, ending at 5,528.93. Meanwhile, the Dow Jones Industrial Average declined by 626.15 points, or 1.51%, to close at 40,936.93. This marked the largest daily drop for all three indexes since early August, according to a Reuters report.
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