Market HIGHLIGHTS: Sensex ends in red after hitting fresh lifetime high, Nifty below 17600; RIL, TCS top drags

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Updated: September 17, 2021 4:28:54 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in red after hitting record highs on Friday

Share Market Today, Share Market LiveNifty Metal and Nifty PUS Bank indices fell the most, down up to 3 per cent.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in red on Friday amid profit booking. BSE Sensex ended 125.27 points or 0.21 per cent down at 59,016, while the Nifty 50 index fell 44 points or 0.25 to settle at 17,585. Tata Steel, State Bank of India (SBI), Tata Consultancy Services (TCS), Hindustan Unilever Ltd (HUL), RIL were among top Sensex draggers. On the contrary, Kotak Mahindra Bank, HDFC Bank, Bharti Airtel, Maruti Suzuki, ITC stocks capped the losses. Sectorally, Bank Nifty ended above 37,800, while Nifty Financial Services was 0.3 per cent. Nifty Metal and Nifty PUS Bank indices fell the most, down up to 3 per cent.

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Highlights

    16:28 (IST)17 Sep 2021
    Niti Aayog's proposal to tax fuel under GST

    Amid a raging row over the hefty taxes on petrol and diesel, NITI Aayog is learnt to have proposed a formula whereby the two motor fuels and electricity could be brought under the goods and services tax (GST) in one go, without causing much Centre-state tussle. According to the think-tank’s formula, the Centre would compensate the states for potential revenue losses on account of shifting electricity – which is currently being taxed by the states exclusively – to GST for about six years. Recently, NITI Aayog held a discussion on transition of energy products into the GST regime with economists and industry experts where it floated these ideas.

    15:37 (IST)17 Sep 2021
    Sensex, Nifty give up all morning gains, end in red

    BSE Sensex ends 125.27 points or 0.21 per cent down at 59,016, while the Nifty 50 index fell 44 points or 0.25 to settle at 17,585

    15:24 (IST)17 Sep 2021
    GST council may discuss bringing petrol, diesel under GST

    The upside in Indian stock market remains capped as traders were cautions as Finance Minister Nirmala Sitharaman is chairing the 45th meeting of the Goods and Service Tax Council Council today. The meeting will be the first in-person meeting between the Union Finance Minister and State Finance Ministers in two years. In the previous month, GST revenue collection stood at Rs 1.12 lakh crore this was lower than the Rs 1.16 lakh crore collected in July but was still better than the year-ago period. Further, the GST council may also discuss bringing petrol and diesel under the GST regime. Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers

    15:21 (IST)17 Sep 2021
    Nifty may attempt to hit 18,000 next week

    For the next week, support for Nifty is seen between 17440-17295. If this support zone holds, we could see a retest of today's high and a possible attempt towards 18000. However, if the support zone fails to hold, the index could be set for a correction towards 16920, which represents the 38.2% retracement of the rally from July 28th. Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS

    15:20 (IST)17 Sep 2021
    Nifty still remains in uptrend

    The market selloff today seems mostly on the back of profit booking, following a stellar rally over the last few weeks. Since July 28th, Nifty has gained a whopping 15%. Meanwhile, during this period, the global markets barely moved higher, with the MSCI Emerging Market index advancing 4% and the DJIA being essentially flat. Given this stellar outperformance, some sort of cool off or consolidation cannot be ruled out in the short-term. That said, the overall trend of Nifty remains up and corrections, if any, should be used as buying opportunities. Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS

    15:02 (IST)17 Sep 2021
    Adar Poonawalla on Biocon Biologics, Serum Institute Life Sciences strategic alliance

    We look forward to complementing each other’s capabilities and capacities in vaccines and biologics, with the objective of addressing inequitable access both in emerging and developed markets for life saving vaccines and biologics. Adar Poonawalla, CEO, Serum Institute of India

    15:01 (IST)17 Sep 2021
    Kiran Mazumdar-Shaw on Biocon Biologics, Serum Institute Life Sciences strategic alliance

    This alliance will complement the strengths and resources of the two leading players in vaccines and biologics. Our shared vision of building large scale businesses having global impact makes it a unique and synergistic value creation opportunity. Kiran Mazumdar-Shaw, Executive Chairperson, Biocon & Biocon Biologics

    15:00 (IST)17 Sep 2021
    Biocon Biologics, Serum Institute Life Sciences announce strategic alliance

    Biocon Biologics (BBL), a subsidiary of Biocon Ltd. and Serum Institute Life Sciences Private Limited (SILS), a subsidiary of Serum Institute of India Pvt. Ltd. today announced a strategic alliance. Under the terms of the agreement, BBL will offer approximately 15% stake to SILS, at a post-money valuation of $4.9 billion, for which it will get committed access to a 100 million doses of vaccines per annum for 15 years, primarily from SILS’s upcoming vaccine facility in Pune with commercialization rights of the SILS vaccine portfolio (including COVID-19 vaccines) for global markets. 

    14:55 (IST)17 Sep 2021
    Sensex, Nifty reverse losses

    Sensex turned positive, and reclaimed 59,100, while Nifty 50 index was back above 17600

    14:34 (IST)17 Sep 2021
    Bank Nifty gives up 37500

    Bank Nifty fell half a per cent to trade at 37,480.70 levels. During intraday, it had hit a lifetime high of 38,112.75

    14:31 (IST)17 Sep 2021
    ICICI Bank, RIL, SBI top Sensex draggers

    ICICI Bank, SBI, Tata Steel, TCS, RIL contributed the most to the indices' loss

    14:30 (IST)17 Sep 2021
    Sensex, Nifty extend losses

    Amid profit-booking, Nifty gave up 17600 level while the 30-share Sensex fell below the crucial 59000-mark

    14:19 (IST)17 Sep 2021
    Nifty seen at 18600 in 3 months, Bank Nifty may add 1400 pts; these stocks look to rally

    NSE Nifty 50 will likely add 800 points in the next three months to hit 18,600 by the end of the year 2021; while Bank Nifty may rise another 1,400 points to reach 39,400 by December end, analysts say. The structural uptrend of Nifty 50 looks intact, ICICI Direct said in a research note. The brokerage firm sees BFSI, IT, telecom, auto, capital goods, realty and infrastructure stocks contributing the most to the Nifty 50 gain. Nifty 50 is on a record setting spree, rising to just shy of 17,800 in morning deals on Friday. The 50-share Nifty has added nearly 600 points, or 3.4 per cent, so far in September.

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    13:59 (IST)17 Sep 2021
    Tata Steel share price down 4%; top Sensex loser

    Tata Steel stock price extended loss, falling nearly 4 per cent to Rs 1,381.95 apiece on BSE in afternoon deals

    13:34 (IST)17 Sep 2021
    Kotak Mahindra Bank top Sensex gainer

    Kotak Mahindra Bank stock was up nearly 4% per cent, top Sensex gainer. The stock was trading at Rs 1,980.55 apiece in afternoon deals

    13:07 (IST)17 Sep 2021
    Sansera Engineering IPO share allotment: Check status online, grey market premium; listing on Sep 24

    Sansera Engineering Rs 1283-crore IPO share allotment is likely to be finalised next week on 21 September 2021. The public issue received 11.47 times applications on the closing day of subscription on Thursday. In the primary market, Sansera Engineering shares were quoting at a premium of Rs 36, against yesterday’s gain of Rs 10. The Bengaluru-based firm shares were ruling at Rs 780, a premium of 5 per cent, in the grey market, according to the people who deal in unlisted shares of the company. Upon successful listing, the company could join other listed peers such as Endurance Technologies, Minda Industries, Sundram Fasteners, Suprajit Engineering, Bharat Forge, Motherson Sumi Systems, and Mahindra CIE Automotive on the stock exchanges.

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    12:37 (IST)17 Sep 2021
    Nifty needs to sustain above 17650 to hit 17900

    Our research suggests that 17650 is an important level in the market. If the market sustains above 17650, we can expect the market to trade till the level of 17850-17900. Technical indicators also support positivity in the market. Likhita Chepa, Senior Research  Analyst, CapitalVia Global Research 

    12:35 (IST)17 Sep 2021
    Poonawalla Fincorp shares tumble 5 per cent to its lower circuit

    Shares of Poonawalla Fincorp continued to decline on Friday and further tumbled 5 per cent to its lowest trading limit after its Managing Director Abhay Bhutada stepped down from the company following SEBI's action. The stock declined 5 per cent to its lower circuit of Rs 163.55 on the BSE.

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    12:33 (IST)17 Sep 2021
    Bank Nifty gives up 37600

    Bank Nifty fell 0.21 per cent to trade at 37,588.30, dragged by losses in Punjab National Bank (PNB), IDFC First Bank, Bandhan Bank, Federal Bank

    12:31 (IST)17 Sep 2021
    Kotak Mahindra Bank, Bajaj Finance keep Sensex in green

    Index heavyweights such as Kotak Mahindra Bank, Bajaj Finance, HDFC Bank, Housing Development Finance Coporation (HDFC), Bajaj Finserv stocks capped the indices' loss

    12:26 (IST)17 Sep 2021
    Sensex, Nifty down 1% from record highs

    Sensex and Nifty were down from their all-time highs, scaled earlier today. The indices slipped 1% from highs.

    12:24 (IST)17 Sep 2021
    India VIX sky-rockets

    India VIX shot up 7.63% on Friday as Dalal Street headline indices corrected from highs. The volatility index was near 15.5 levels.

    12:23 (IST)17 Sep 2021
    Top drags

    Reliance Industries, Tata Steel, State Bank of India, and IndusInd Bank were among the drags. Tata Tell was down 4.49% as the worst Sensex performer, followed by SBI's 1.88% fall.

    12:22 (IST)17 Sep 2021
    Sensex, Nifty give up gains

    Sensex and Nifty were down from highs, trading flat on Friday. Sensex was holding above 59,150 while Nifty was just above 17,600. 

    12:04 (IST)17 Sep 2021
    Invest & recover what’s lost: Bharti Airtel chairman Sunil Bharti Mittal to Vodafone Plc CEO Nick Read

    Bharti Airtel chairman Sunil Bharti Mittal on Thursday said he spoke to Vodafone Plc CEO Nick Read, after the announcement on the relief package for the telecom sector, to convince him to invest in his company’s India operations now that the government has taken a major investor-friendly step. Mittal also told Read that the new reforms in the telecom sector announced by the government open up several opportunities for the two companies to partner in the areas of infrastructure.

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    11:41 (IST)17 Sep 2021
    Rs 31,000-crore support for bad bank: Finance minister Nirmala Sitharaman

    Finance minister Nirmala Sitharaman on Thursday said the government will offer guarantee to the tune of Rs 30,600 crore on the security receipts (SRs) issued by the National Asset Reconstruction Company (NARCL), or the so-called bad bank, while acquiring non-performing assets from lenders.

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    10:26 (IST)17 Sep 2021
    Gold's sharp fall has dented market sentiment

    COMEX gold trades little changed near $1756/oz after a sharp 2.1% decline yesterday. Weighing on gold is upbeat US economic data which strengthened the case for Fed’s monetary tightening. However, supporting price is rising inflation concerns, persisting virus risks, concerns about the health of the Chinese economy and increased geopolitical tensions. ETF inflows also showed some buying interest at lower levels however the pace was modest. Gold's sharp fall has dented market sentiment however we believe that market reaction to US data was exaggerated and price may stabilize near $1750/oz level. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research, Kotak Securities

    09:56 (IST)17 Sep 2021
    Nifty now eyes 17950

    The Nifty has opened in fine fettle and has achieved the next target of 17750. A pause at the current levels cannot be ruled out. However, if we can sustain these levels, traders can accumulate long positions on intra day corrections for a new target of 17950. The markets have a good support at 17500. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:49 (IST)17 Sep 2021
    Rupee could trade in the tight range of 73.30-73.80

    The tussle between ‘RBI/importers’ and ‘inflows’ continue further and hence Rupee could trade in the tight range of 73.30 to 73.80 over the short term and 73 to 74.20 over the medium term. The bias is likely to remain on the upside. Amit Pabari, managing director, CR Forex Advisors

    09:48 (IST)17 Sep 2021
    MCX Gold must reclaim 47000 to stage rally, MCX silver looks bearish on charts; avoid positional long position

    Gold prices fell as much as $40 on Thursday after better-than-expected US retail sales. If we look at the economy as a whole, the retail sector plays an important part, a good indicator of economic strength. The retail sector due to Covid was fairly non-existent but now with a stronger retail sector could mean a more hawkish Federal Reserve down the road. Although we believe the retail figures will not impact the US Fed’s interest rate announcement next week as the Fed mainly looks at inflation and employment figures.

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    09:32 (IST)17 Sep 2021
    Poonawalla Fincorp share price hit 5% lower circuit yet again

    Poonawalla Fincorp share price hit a 5% lower circuit yet again on Friday, following alleged insider trading case. Stock trades down at Rs 163.55 apiece

    09:29 (IST)17 Sep 2021
    Nifty to face hurdle at 17850

    Crucial support for Nifty 50 is at 17,550 while it may face some resistance at 17,850 levels. Mohit Nigam, Head - PMS, Hem Securities

    09:25 (IST)17 Sep 2021
    Bank Nifty tops 38000

    Sectorally, barring Nifty Media and Nifty Metal, all the indices were trading in the positive territory. Bank Nifty surged to cross the crucial 38,000-mark

    09:23 (IST)17 Sep 2021
    Tata Steel, Dr Reddy's top Sensex losers

    Tata Steel and Dr Reddy's Laboratories were the only losers on the index

    09:22 (IST)17 Sep 2021
    ITC, TCS, Airtel top Sensex leaders

    ITC, Bajaj Finance, Tata Consultancy Services (TCS), Bharti Airtel, SBI, Housing Development Finance Corporation (HDFC), Titan Company, RIL top Sensex gainers

    09:21 (IST)17 Sep 2021
    Sensex tops 59400, Nifty claims 17700

    BSE Sensex was up 338 points or 0.57 per cent to hit a fresh record high of 59,527, while Nifty 50 crossed 17700 on Friday

    09:12 (IST)17 Sep 2021
    Sensex, Nifty hit record high levels in pre-open

    BSE Sensex was up 269 points or 0.45 per cent to hit a fresh record high of 59,410, while Nifty 50 hit 17700 in pre-opening session on Friday

    08:59 (IST)17 Sep 2021
    F&O expiry outlook 23 September: Nifty support at 17500, Bank Nifty to continue to rally above 38000

    One can still continue with a stock-centric approach by following strict stop losses; because they are still providing better trading opportunities. Now as far as immediate levels are concerned, 17500 – 17450 – 17350 are to be seen as key supports. Since we are trading in uncharted territory, it’s difficult to project the upside levels and hence, just for understanding, every 100 points psychological level can be considered crucial points.

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    08:40 (IST)17 Sep 2021
    Zee Entertainment, Bharti Airtel, Ami Organics, Poonawalla Fincorp, banking stocks in focus

    Nifty futures were trading half a per cent or 88 points higher at 17693.50 on Singaporean Exchange, suggesting a record high opening for BSE Sensex and Nifty 50. In today’s session, Nifty may test 17700 levels. Analysts say that the market might be volatile on account of fragile global cues, worry over slower economic growth, and rising Delta variant cases globally. “Investors are cautious ahead of next week’s Federal Reserve meeting, awaiting indications on when the central bank will start withdrawing its monetary stimulus and start raising interest rates eventually. Valuations too are rich and hence could lead to bouts of profit booking,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services. said.

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    08:27 (IST)17 Sep 2021
    Petrol and diesel price today September 17: Fuel rates steady for 12th day; Check price in Delhi, Mumbai, here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of petrol and diesel were left unchanged for the twelfth consecutive day on Friday by oil marketing companies. Petrol in the national capital today costs Rs 101.19 per litre, while diesel in the capital city is retailing at Rs 88.62 per litre. The previous cut in Petrol and diesel prices came on September 5 when prices were reduced by 15 paise. So far this month, prices have been decreased twice, trimming the rate by 30 paise. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.

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