Market HIGHLIGHTS: Sensex ends up 835 pts, Nifty at 11,050 recouping most of Thursday’s losses; HCL Tech up 5%

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Updated: September 25, 2020 4:12:35 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 recovered most of the yesterday's losses, and ended over 2% up on Friday.

Share Market Today, Share Market LiveShanghai Composite, Hang Seng, Nikkei 225, and KOSDAQ were all trading with losses. SGX Nifty too was trading over 55 points lower during the early hours of trade on Wednesday.

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity benchmark indices ended over two per cent higher, recovering nearly yesterday’s losses on Friday. BSE Sensex ended 835 points or 2.28 per cent at 37,389, while the broader Nifty 50 index ended at 11,050, gaining 245 points or 2.26 per cent on Friday. On weekly basis, headline indices have closed with 3.8 per cent loss. All the 30 Sensex constituents finished their trade in the positive territory with Bajaj Finserv and HCL Tech as top Sensex gainers, up 6.64 per cent and 5.30 per cent, respectively. Among other Sensex gainers were Bharti Airtel, IndusInd Bank, L&T, TCS, ICICI Bank, ONGC and Infosys. The trend among the sectoral indices was positive. Nifty IT index was top sectoral gainer, up 3.46 per cent led by Coforge, HCL Tech, TCS, Infosys and Wipro.

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    16:04 (IST)25 Sep 2020
    Bulls charged on expectations of measures to boost demand ahead of festive season

    Markets recouped most of yesterday's losses today as Bulls charged ahead on expectations of a host of measures to boost demand ahead of the festive season. While the IT biggies led the charge, it was heartening to see the broader market participants with a host of companies across multiple themes as investors chose to cherry-pick stocks: S Ranganathan, Head of Research at LKP Securities

    15:59 (IST)25 Sep 2020
    Sensex, Nifty rebound strongly; time to re-enter share market or is further correction on the cards?

    After having nosedived 3% during the previous session, domestic benchmark indices on Friday were looking stronger. The NSE Nifty 50 reclaimed 11,000-mark, with index heavyweights supporting the move upwards. However, after the intense sell-off in global equity markets, is it safe enough to enter the stock markets again? Well, analysts still remain skeptical for the near term with technical analysts placing the immediate support for Nifty in the range of 10,800-10,750. Investors are being advised to lighten-up their positions and stay cautious. Equity markets have undergone a correction after having jumped over 50% from March lows.

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    15:44 (IST)25 Sep 2020
    Market expected to remain volatile and directionless

    In spite of the rally seen today, the market is expected to remain volatile and directionless in the absence of solid triggers. Global cues will continue to be in focus as resurgence in virus cases around the world, leads to more restrictions and more pressure on the economic recovery. Traders advised to limit overnight positions and Investors are advised to only accumulate quality stocks for the time being: Vinod Nair, Head of Research at Geojit Financial Services

    15:43 (IST)25 Sep 2020
    FPIs net sold close to Rs 2,000 crore so far this month

    Indian benchmark indices showcased steady gains throughout the course of the trading day, before finally ending up by more than 2%; almost entirely recouping the losses in yesterday’s trade. This relief rally was in spite of mostly negative global cues and seemed to be based on the hope of more stimulus measures by the government. On a weekly basis, the recovery today enabled the benchmark indices to limit to around 3.8% loss for the week. FPIs have net sold close to Rs.2000 Cr so far this month, which indicated the uncertain trend in the markets, after a huge month of inflows in August: Vinod Nair, Head of Research at Geojit Financial Services

    15:39 (IST)25 Sep 2020
    Nifty resistance on the upside is at 11300

    While the markets spent some time above the psychological level of 11000, the weakness in the index continues. The resistance on the upside is at 11300. Until that is not crossed, we cannot surmise that the short term bear trend has been completed and an upside rally will ensue. On the downside, the Nifty can fall to achieve the 10750 level: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    15:38 (IST)25 Sep 2020
    Closing bell: Sensex ends near 37,400, Nifty tops 11,050

    BSE Sensex ended 835 points or 2.28 per cent at 37,389, while the broader Nifty 50 index ended at 11,050, gaining 245 points or 2.26 per cent on Friday.

    15:35 (IST)25 Sep 2020
    Looking to beat volatile stock markets, here’s how to build a turbulence proof portfolio

    Equity markets have always been volatile; in fact, volatility is in the inherent nature of equity investing. If it’s not volatile it’s not equity investing. So, one cannot avoid or run away from volatility. The only option is to make good use of that inherent volatility and therefore, as they say, “Make Volatility Your Friend”.  Volatility is like a wild animal that gets crazier at times. It’s risky and at times it can also be fatal. In that sense, to tame this beast, it’s very important to first understand the facts and reasons behind volatility. One of the key explanations behind volatility has been the human emotion of “Greed & Fear”.  It’s very important for investors to avoid being swayed by these emotions, particularly as part of herd mentality.

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    15:24 (IST)25 Sep 2020
    Sensex, Nifty zoom over 2 per cent

    BSE Sensex was trading 870 points or 2.38 per cent higher at 37,423, while the Nifty 50 index zoomed 245 points or 2.27 per cent to 11,050, just before the closing on Friday.

    Check Sensex, Nifty live levels

    15:10 (IST)25 Sep 2020
    Looking to beat volatile stock markets, here’s how to build a turbulence proof portfolio

    Equity markets have always been volatile; in fact, volatility is in the inherent nature of equity investing. If it’s not volatile it’s not equity investing. So, one cannot avoid or run away from volatility. The only option is to make good use of that inherent volatility and therefore, as they say, “Make Volatility Your Friend”.

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    15:02 (IST)25 Sep 2020
    IndusInd Bank, Tata Steel and Bajaj Finance lost the most in the BSE-30 Index

    The BSE-30 Index declined around 4.3% in the current week. The market witnessed correction as sentiments soured on Fed comments on weaker-than-expected economic recovery, increase in fresh Covid-19 cases in developed markets and on concerns of higher-than-expected credit costs in the banking sector in the near term. IndusInd Bank, Tata Steel and Bajaj Finance lost the most in the BSE-30 Index. FPIs sold equities worth US$576 mn over the past five trading sessions while DIIs bought US$112 mn worth of equities in the same period. The key events to be watched out in the near future would be the covid-19 trajectory in India and abroad, progress on Vaccine front and global market cues. Stimulus measures, if any, in the US could provide support to the markets. If the market corrects from these levels, then investors should actively look for accumulating good quality stocks for long term wealth creation: Sanjeev Zarbade, VP PCG Research, Kotak Securities

    14:58 (IST)25 Sep 2020
    Which stocks to buy amid share market correction: As Sensex plunges, bet on these sectors | Geojit INTERVIEW

    During high volatility in Indian share markets, BSE Sensex and Nifty 50 lost 4 per cent this week. Satish R Menon, Executive Director at Geojit Financial Services, believes that the equity market is near the bottom and in the next few months, more volatility is on the cards. In an exclusive interview with Financial Express Online, Menon suggests investors to prepare a quality equity portfolio to generate wealth in the long-term. On the sectoral front, he sees consumption and pharma sectors most stable sectors in the Indian industry and holds a positive view on them.

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    14:33 (IST)25 Sep 2020
    Global cues; damp flows drag market down

    Over the last week, markets suffered strong reversal with Nifty and Nifty Midcap 150 indices returning -4.1% and -5.9% respectively. Weakening global cues – fear of lockdowns in UK, Spain and other European markets, amid increasing fear of COVID re-infection rates, damped the markets. The result was seen in flows as well with Foreign institutional flows standing at USD 18 mn during the last week. Domestic flows didn’t help matter either, with a outflow of ~USD 139 mn during the same time period. The strong reversal is pushing the market to reasonable levels, trading with a P/B of 3.1x as against a long term average of 3.5x: Hemant Kanawala, Head – Equity, Kotak Mahindra Life Insurance Co. Ltd

    14:08 (IST)25 Sep 2020
    In coming sessions,USD-INR spot may trade in between 73.40-74

    We are observing a knee-jerk reaction in USDINR spot on hopes of US fiscal stimulus package. The risk appetite has surged but there still remains a high risk over the passage of the US stimulus bill. Unless the bill is passed, we may continue to observe the uptrend in spot towards 74 zone. However, two IPOs are due next week, and slew of corporate inflows are lined up which may limit the rise. In coming sessions, we expect the USDINR spot to trade in between 73.40-74: Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

    14:04 (IST)25 Sep 2020
    ‘Buy’ Bharti Airtel stock; Credit Suisse, Macquarie, Goldman Sachs see 60% upside in share price

    RIL’s digital arm, Reliance Jio launched new postpaid plans earlier this week, to gain traction in the segment. These plans come with OTT services such as Amazon Prime, Disney+Hotstar (VIP) and Netflix subscriptions, along with 75 GB monthly data under Rs 399 base plan. In comparison, the current entry-level postpaid plan of Airtel is at 25 per cent premium to Jio’s base plan.

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    13:51 (IST)25 Sep 2020
    A knee-jerk reaction in USDINR spot on hopes of US fiscal stimulus package

    “We are observing a knee-jerk reaction in USDINR spot on hopes of US fiscal stimulus package. The risk appetite has surged but there still remains a high risk over the passage of the US stimulus bill. Unless the bill is passed, we may continue to observe the uptrend in spot towards 74 zone. However, two IPOs are due next week, and slew of corporate inflows are lined up which may limit the rise. In coming sessions, we expect the USDINR spot to trade in between 73.40-74," said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.

    13:39 (IST)25 Sep 2020
    TCS recovering after a day of fall

    Tata Group's tussle with the SP Group aided the 5% fall that TCS witnessed during the previous session. However, market participants claim that TCS, with its strong fundamentals has no business falling to such levels. Today the stock is up over 3% to trade at Rs 2,415 per share. 

    12:58 (IST)25 Sep 2020
    Vodafone Idea, Airtel continue losing spree; Mukesh Ambani’s Reliance Jio marches ahead in June

    Mukesh Ambani’s four-year-old telecom giant has been eating up the users of both Vodafone-Idea and Bharti Airtel, two telecom firms, which once ruled the industry. Vodafone Idea Ltd (VIL) and Bharti Airtel lost about 48.2 lakh and 11.3 lakh users, respectively, in June, while rival Reliance Jio got a fresh boost of nearly 45 lakh customers, strengthening its hold in the mobile telephony market, according to TRAI’s subscriber tally for June.

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    12:36 (IST)25 Sep 2020
    Sensex, Nifty extend gains at this hour

    In the noon deals on Friday, BSE Sensex was trading 566 points or 1.55 per cent up at 37,120, while the Nifty 50 index rose to 10,971, gaining 165 points or 1.53 per cent.

    Check Sensex, Nifty live levels

    12:12 (IST)25 Sep 2020
    BPCL, HPCL shares rating: Jefferies initiate with ‘buy’ call; one of the stocks may double the price

    Equity research firm Jefferies has initiated coverage on India’s oil marketing companies (OMCs), with a ‘buy’ recommendation on two state-run firms’ shares, and a ‘hold’ rating on the third stock. Refining business is going through one of the worst phases in over a decade; however, Jefferies expects the marketing segment to compensate for drop in profitability. Jefferies has initiated its coverage of Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) with a ‘Buy’ rating, while it has given a ‘Hold’ rating on Indian Oil Corp Ltd. Both BPCL and HPCL have outperformed the Nifty over 5 and 10-yr periods, with profits jumping close to 3 times.

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    12:01 (IST)25 Sep 2020
    Havells enters Refrigerator market under ‘Lloyd’ brand

    Havells announced its entry into the Refrigerator product category with the launch of 25 new models of Direct Cool, Frost Free, and Side by Side refrigerators. The product launch spans capacities ranging from 190–587 liters. The newly launched refrigerators would come with a one-year comprehensive warranty, along with a 10-year compressor warranty. With this, Havells now has access to the ~INR250b Refrigerator market. Moreover, the launch plugs an important gap in Lloyd’s product portfolio of Air Conditioners, Washing Machines, and TVs. The category has a penetration level of ~33% in India. Going ahead, the company aims to launch 25 additional refrigerator models and a new range of dishwashers by Diwali 2020: Motilal Oswal Financial Services

    11:36 (IST)25 Sep 2020
    GMR Infrastructure share price surges 9% on divestment of 51% stake in Kakinada SEZ

    GMR Infrastructure share price surges 9 per cent to Rs 23.10 apiece on BSE in Friday’s session after the company announced divestment of the group’s entire stake in Kakinada SEZ Limited (KSEZ) to Aurobindo Realty and Infrastructure Private Limited.

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    11:11 (IST)25 Sep 2020
    UTI AMC IPO will garner the interest from all market participants

    We believe UTI AMC IPO will garner the interest from all market participants, as IPO priced at an attractive valuation. UTI AMC demanding a valuation of 25x of FY20 earning and 5.3 per cent of Q1FY21 QAAUM. However, Listed peers HDFC AMC trades at 35x FY20 earnings and Nippon AMC trades at 37x FY20 earnings. Additionally HDFC and Nippon AMC trades at 12.56 per cent and 8.55 per cent of Q1FY21 QAAUM, Respectively. Hence, considering attractive valuation and asset-light business models we believe IPO sail through successfully: Jaikishan Parmar- Sr. Equity Research Analyst, Angel Broking Ltd

    11:02 (IST)25 Sep 2020
    Nifty starts September series with some long positions

    Nifty started September series with some long positions. Index moved higher in first two sessions of the series. But it failed to sustain at higher levels and nosedived piercingly. After three months of positive momentum, bulls lost their grip on the markets as index fell by 1000 points from its high of 11794. Technically, during the series, Nifty gave a breakdown from a Head & Shoulder pattern on daily scale. It negated its Higher Lows sequence of last five months and formed a Big Bearish candle on expiry to expiry chart. Market breadth also turned in favour of the declining counters. September expiry was majorly dominated by bears as index witnessed selling pressure on bounces. Due to sharp sell-off towards the fag end, index concluded the September series with loss of 6.52% against its August expiry close. Except some gains in IT sector, all other sectoral indices concluded September series in red: Motilal Oswal

    10:49 (IST)25 Sep 2020
    GMR Group to divest its entire 51% stake in Kakinada SEZ Limited

    GMR Infrastructure Limited announced the signing of definitive agreements for the sale of equity owned by its wholly-owned subsidiary GMR SEZ and Port Holding Limited (“GSPHL”) of its entire 51% stake in Kakinada SEZ Limited (“KSEZ”) to Aurobindo Realty and Infrastructure Private Limited 

    10:46 (IST)25 Sep 2020
    Global real GDP contracted 7.2% YoY in 2QCY20: Motilal Oswal

    According to EcoScope report from Motilal Oswal Financial Services Limited (MOFSL), the global real GDP contracted 7.2% YoY in 2QCY20. Global real private final consumption expenditure (PFCE) declined at record 11% YoY last quarter (v/s 2.1% YoY decline in 1QCY09) while global real gross capital formation (GCF) fell only 6% (v/s 16% in 1HCY09), and global real government final consumption expenditure (GFCE) remained stagnant in 2QCY20. India’s real PFCE contracted by 26.7% and real GFCE saw a growth of 16.4% in Q2 2020 (YoY). In terms of real GCF, India witnessed a decline of 47.5% in Q2 2020 (YoY): Motilal Oswal Financial Services

    10:44 (IST)25 Sep 2020
    Fund raising through BSE crosses Rs 10 lakh crore mark for the fiscal

    BSE Witnessed Listing of Commercial Papers and Debentures of Rs 41,203 crore on a single day - September 23, 2020. Total fund raising for the financial year 2020-21 exceeds Rs 10 lakh crore as of date.

    From the total amount raised on September 23, Rs 30,995 crore was through Commercial Paper and Rs 10,208 crore was through Non-Convertible Debentures.  

     

    10:43 (IST)25 Sep 2020
    TCS share price jumps over 4% on partnership with Maurices; stock rallies 62% since March

    TCS share price jumped 4.4 per cent to Rs 2,435 apiece on BSE after the company announced a partnership with maurices, a women’s fashion-apparel retail chain in the US and Canada, to help create a new flexible and scalable IT landscape for the latter. Earlier this week, Tata Consultancy Services stock price hit a fresh 52-week high of Rs 2,554 apiece. Since the start of this week, IT giant has made a slew of announcements such as the strategic partnership with Morrisons, general availability of Quartz suit of blockchain, deployment of AI-Powered software and launch of a private off-grid networking platform using blockchain with Yale University.

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    10:42 (IST)25 Sep 2020
    Fear among investors growing? October series F&O rollover less than 3-month average

    September derivative series ended 6.52% lower on expiry as volatility surged, wiping out gains made in the previous series. With this, a lower number of rollovers were witnessed at just 71% against the three-month average of 78%. Lower rollovers hint at growing fear among investors. “September series ended on panic mode for bulls as Nifty nosedived ~3% for the day (Thursday) to close the penultimate session at 10,805 mark, massive unwinding of puts positions seen as short gamma traders were trapped on wrong foot,” brokerage and research firm Yes Securities said in a note. 

    09:57 (IST)25 Sep 2020
    74.30 likely to act as resistance for rupee

    The RBI did not accept any offers in the OMO yesterday. Bonds were under pressure post the OMO result. It will be interesting to see the response in today's Gsec auction considering we have the release of the borrowing calendar and the RBI policy next week. The RBI has announced another Rs 10000crs OMO twist for next week. Rupee came under pressure and weakened in line with broad USD strength. USD/INR finally managed to break out of the 73.15-73.65 range which had been holding well for past few sessions. Today's weekly close will be crucial. If USD/INR manages to mean revert and close below 73.65, we could see range bound activity for a few more sessions. If we close above 73.65, Rupee could continue to remain under pressure. 74.30 is likely to act as a resistance: Abhishek Goenka, Founder and CEO, IFA Global

    09:51 (IST)25 Sep 2020
    Rupee likely to remain supported in line with Asian peers

    As the optimism and hope seems to be revived in short span, rupee is likely to remain supported in line with the Asian peers. Also, inflows pertaining to HDFC’s bond issue worth Rs. 5000 cr can further extend support to rupee in the intraday session. Broadly, there is cautiousness and a mild risk off tone as investor’s are uncertain about the US’s ability to pass a stimulus package after Fed officials indicated they expected more fiscal support. If there is no breakthrough in the stimulus yet another time, then we might see the resumption risk-off mode. Until then, upticks close to 73.80-74.20 levels can be taken as selling opportunity: Amit Pabari, managing director, CR Forex Advisors

    09:45 (IST)25 Sep 2020
    We could witness a target of 10750 during the course of the October series

    The Nifty has opened in the green and traders can utilise this opportunity to strategize short positions as the index remains in a weak zone. We could witness a target of 10750 during the course of the October series. If we are unable to hold that level, the Nifty could further slide to 10600. The resistance zone on the upside is at 11550-11600: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:32 (IST)25 Sep 2020
    TCS shares gain nearly 3%; top Sensex gainer

    TCS shares were top Sensex gainer in the early deals on Friday on BSE. TCS was trading at Rs 2,395.25 apiece, up 2.82 per cent.

    Check prices: TCS

    09:31 (IST)25 Sep 2020
    TItan Company slips into red, down 0.5%

    Titan Company share price slipped into red after opening in green. The stock price was down 0.5 per cent at Rs 1,090 apiece on BSE.

    Check prices: Titan Company

    09:25 (IST)25 Sep 2020
    All 30 Sensex constituents trade in green

    All the 30 Sensex constituents were trading in the green today. M&M, IndusInd Bank, TCS, Bharti Airtel, Baja-Auto, Bajaj Finance, Maruti Suzuki were among top Sensex gainers.

    09:23 (IST)25 Sep 2020
    Bharti Airtel share price jumps 2%

    Bharti Airtel share price gains nearly 2 per cent to trade at Rs 426.85 apiece on BSE as the telecom giant took over Reliance Jio in 4G users. Airtel added 5.29 million 4G customers in June, higher than Reliance Jio, which managed to add 4.5 million users.

    Check prices: Bharti Airtel

    09:20 (IST)25 Sep 2020
    Sensex, Nifty gain over 1%

    BSE Sensex was trading up 393 points or 1.07 per cent at 36,941, while the broader Nifty 50 index reclaimed 10,900, gaining 96 points or 0.88 per cent.

    Check live Sensex, Nifty levels

    09:15 (IST)25 Sep 2020
    Stocks in focus: SBI Life Insurance, Divis Lab, RIL, Bharti Airtel Vodafone Idea, TCS, Tata Steel

    Suggesting a positive opening for BSE Sensex and Nifty 50 for Friday, Nifty futures were trading 68.25 points or 0.63 per cent up at 10,908.20 on Singaporean Exchange. A host of factors such stock specific action, trends in COVID-19 cases, oil prices, rupee trajectory, farmers’ protest and other global cues will the guide the share markets today.

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    08:54 (IST)25 Sep 2020
    Bulk and block deals

    65,000 shares of Dixon Technology were sold by Max Life Insurance Company while over 64,000 shares of the same were bought by the US-based Vanguard Group. Over 49 lakh shares of Zee Entertainment Enterprises were bought by Integrated Core Strategies (Asia) PTE.

    08:50 (IST)25 Sep 2020
    Rendered helpless outsiders by virtue of my father having only female heirs: Valli Arunachalam

    Days after saying she will drag the Murugappa family members to court for rejecting her nomination to the board of Ambady Investments, Valli Arunachalam has said the family’s complete failure to act in a constructive manner to date shows they are primarily concerned with continuing to exercise control over the assets of her late father’s estate rather than allowing her family an exit or the same degree of control and visibility that the other members enjoy.

    08:40 (IST)25 Sep 2020
    Nifty set to open in green as suggested by SGX Nifty

    Nifty set to open in green as suggested by SGX Nifty. Asian stocks are open higher on Friday as a late US rally supported to improve global sentiment although weak U.S. data and uncertainty about a stimulus package in Washington have kept a lid on confidence. The U.S. stocks ended in green thanks to a pullback in Technology stocks. Technically, Dow Jones has indicated short term correction. It has penetrated 50 EMA and now approaching 200 EMA(26460) one can see selling pressure on the higher side. For the day, The strategy should be selling on the rise. One can also trade with buying indices PUT specifically in BankNifty: Vishal Wagh, Head of Research, Bonanza Portfolio Ltd

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