Market HIGHLIGHTS: Sensex ends above 60,000, Nifty above 17,850, fresh record closing highs; Maruti zooms 6.5%

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Updated: September 27, 2021 4:22:15 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 yet again ended at fresh record closing highs Monday

Share Market Today, Share Market LiveNifty Auto was the top sectoral gainer, rising 3.22 per cent, while Nifty IT fell nearly 3 per cent. Image: Reuters

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended flat with a positive bias on Monday. BSE Sensex ended at a record closing high at 60,078, while the Nifty 50 index ended flat at 17,855, a new closing high. Maruti Suzuki was the top Sensex gainer, rallying over 6.5 per cent, followed by M&M, Bajaj-Auto, NTPC, Reliance Industries Ltd (RIL), HDFC Bank, UltraTech Cement, State Bank of India (SBI). On the flip side, HCL Tech, Tech Mahindra, Bajaj Finserv, Infosys, Nestle India, Hindustan Unilever Ltd (HUL), Sun Pharma, TCS, Bharti Airtel were the top index draggers. Nifty Auto was the top sectoral gainer, rising 3.22 per cent, while Nifty IT fell nearly 3 per cent.

 

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    15:42 (IST)27 Sep 2021
    Sensex, Nifty end at record closing highs

    BSE Sensex ended at record closing high at 60,078, while Nifty 50 index ended flat at 17,855, new closing high

    15:19 (IST)27 Sep 2021
    Traders take support as India, US looking forward to reconvening trade policy forum this year

    Indian markets started on a positive note despite mixed Asian market cues as fears of further waves of coronavirus outbreaks clouded the economic outlook for the region, tempering gains. During the afternoon session Indian markets are maintained their up move as across-the-board buying by funds as well as retail investors was seen. Traders took support as India, US looking forward to reconvening trade policy forum this year. Sentiments also got boost as Finance Minister stated that the Indian economy is on a sustained path of revival and cited rise in GST collections and direct taxes to support her assertion. Also, the sentiment further got boosted as further easing in lockdown was announced in Maharashtra with opening of multiplexes and cinema halls. Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers

    15:08 (IST)27 Sep 2021
    Bharti Airtel Right issue

    Bharti Airtel's record date will be tomorrow i.e 28th September 2021, Market lot for the Future and option contacts are also adjusted. Tomorrow will be going the record date for Bharti Airtel Rs 21,000 crore right issue, the shareholder who was holding Bharti airtel will get right to apply for Bharti airtel right issue in the ratio of 1:14 shares i.e for every 14 shares of Bharti airtel shareholder will get the 1 right entitlement of Bharti airtel right share at a price of Rs 535, which is discount to CMP of 26%. Along with this Bharti Airtel's future and option contract lot also adjust for this right issue, the adjusted market lot would be 1886 shares for both Future contracts as well as Option contracts. Yash Gupta, Equity Research Analyst, Angel One 

    14:52 (IST)27 Sep 2021
    Sensex, Nifty turn red

    BSE Sensex has turned red, down 40 points to 60,008, while Nifty 50 was below 17850 in afternoon deals

    14:29 (IST)27 Sep 2021
    RIL share price hits new 52-week high

    RIL stock hit a fresh 52-week high of Rs 2,527 apiece, rising over 1.5 per cent, in intraday deals on BSE

    14:27 (IST)27 Sep 2021
    Market participants keenly observing the Evergrande crisis for its India impact

    Market participants are keenly observing the Evergrande crisis for its India impact. India's trade ties with China are heavily skewed in favour of imports. Hence, the supply-side impact of Evergrande fallout is very much a threat. However, lesser exposure towards exports should keep India largely immune from any adverse impact. The situation appears much stable on the COVID-19 front, with no signs of a third wave. It has raised hopes for the upcoming festival season. Traders are expecting significant demand to return to the market after the turmoil of living under the fear of the pandemic for more than a year. Vaibhav Agrawal, CIO, Teji Mandi

    13:54 (IST)27 Sep 2021
    If Sensex sustains above 59,000, it may touch 60450-60600 soon

    Indian equity benchmarks turned negative in the afternoon session, with both Sensex and Nifty trading in red terrain. The BSE Sensex is currently trading around 60,100 after made a high of 60,410.90. There were 15 stocks advancing against 15 stocks declining on the index. The CNX Nifty is currently trading around the level of 17852. There were 25 stocks advancing against 25 stocks declining on the Nifty index. Domestic sentiments remained negative as RBI data showed the country’s foreign exchange reserves declined by $1.47 billion. Traders also remain concerned with report stating that as many as 470 infrastructure projects, each worth Rs. 150 crore or more have been hit by cost overruns totaling more than Rs. 4.37 lakh crore. Our research suggests that If the market sustains the level of 59000, we can witness higher levels of 60450-60600. Technical indicators like EMA and MACD shows support level in the market. Gaurav Garg, Head of Research, CapitalVia Global Research

    13:21 (IST)27 Sep 2021
    Nifty Realty up 2.97%

    Nifty Realty index was up 2.97% on Monday afternoon. Phoenix Mills was the top gainer, up more than 6%, followed by DLF, Godrej Properties, and Oberoi Realty. 

    13:01 (IST)27 Sep 2021
    Paras Defence IPO share allotment: Check status via BSE, Link Intime, grey market premium; listing on Oct 1

    Paras Defence and Space Technologies IPO share allotment will be finalised on Tuesday, 28 September 2021. The public issue saw a whooping 304.26 times subscription, the highest in a decade. In the primary market, Paras Defence shares were quoting at a premium of Rs 235 over the IPO price of Rs 175 at the upper end of the price band. In the grey market on Monday, shares were trading at Rs 410 apiece, a premium of 134 per cent over the issue price, according to the people who deal in unlisted shares of the companies. The initiation of refunds or unblocking of funds from ASBA accounts will take place on 29 September 2021. While the equity shares will be credited to depository accounts on 30 September 2021.

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    12:39 (IST)27 Sep 2021
    Rakesh Jhunjhunwala made Rs 170 crore from this auto stock in September; analysts see further upside

    Big bull Rakesh Jhunjhunwala has made Rs 170 crore from his shareholding in auto major Tata Motors, so far this month. Tata Motor’s share price has rallied more than 14% since the end of August to now trade at Rs 332 apiece, up from Rs 287 per share on August 31. Tata Motor’s stock has outperformed the benchmark Nifty Auto, which jumped 5.5% during the same period. Analysts remain bullish on Tata Motors despite its recent outperformance and believe the stock could rise even further, augmenting Rakesh Jhunjhunwala’s profits in the company. 

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    12:16 (IST)27 Sep 2021
    Should you subscribe to Aditya Birla Sun Life AMC IPO?

    Considering the TTM adjusted EPS of Rs.20.27 on the post-issue basis, the company is going to list at a P/E of 35.13 with a market cap of Rs.2,05,056 mn while its peers namely HDFC AMC and Nippon Life are trading at a P/E of 49.99 and 38.61 respectively. We assign the “Subscribe” rating to this IPO as the company is the largest non-bank affiliated asset manager in India with diverse product portfolio and geographically diversified pan-India distribution presence. Also, the company is available at a reasonable valuation as compared to its peers. Marwadi Shares and Finance 

    11:51 (IST)27 Sep 2021
    Analyst view on Freshworks

    Enquiries for investing in Freshworks were seen even before the listing by Indian investors but unfortunately they are not allowed to directly investing in IPOs of US markets. Since it got listed, over the last 3 days, it’s been the No.1 stock on Vested Finance’s platform and 0.4% of Vested Finance users today hold FRSH in comparison 1.2% have invested in Coinbase and 6.5% have invested in Microsoft. More than INR 2 crore has been invested in Freshworks since it got listed on our platform. We witnessed a 50% spike in daily new account opening on our platform over the last few days due to the Freshworks excitement. Viram Shah, Co-Founder & CEO, Vested Finance

    11:48 (IST)27 Sep 2021
    2021 Bank Holidays October: Banks to remain shut for up to 21 days in October; check full list here

    Banks in India will remain closed for up to 21 days in October 2021, including second and fourth Saturdays, and Sundays. Apart from weekly offs, banks will remain shut in different states on account of different holidays. Banks will not be closed for all 21 days for all states as these are state-specific holidays for different occasions. On October 2, banks across the country will remain shut as it will be a gazetted holiday. The Reserve Bank of India has categorised holidays under three categories — Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday; and Banks’ Closing of Accounts. The list of holidays given below has been notified by RBI.

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    10:59 (IST)27 Sep 2021
    Charts suggest strong uptrend for these 2 stocks; ICICI Direct recommends buy for as much as 12% gains

    Nifty 50 and BSE Sensex have scaled fresh all-time highs and are not looking to slow down. Sensex is now above 60,000 points while the Nifty 50 is closer to 18,000 than ever before. Amid this upward trend, the broader markets have participated with both smallcap and midcap indices mirroring the moves. Bank Nifty too has reached new record highs. As the indices zoom ahead analysts at ICICI Direct have picked two stocks that they believe have strong technical uptrend patterns along with robust fundamentals warranting an upside potential between 10-12%.

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    10:44 (IST)27 Sep 2021
    Nifty's next target is 18050

    The Nifty is sitting at a resistance zone of 17900-17950. If we can close above this patch, the next level should be 18050. The updated support for the week is at 17700. Since the risk is to reward is skewed in favor of risk, I would recommend a "buy on dips" approach where the reward becomes a lot more favorable. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    10:00 (IST)27 Sep 2021
    Nifty may head to 18200 in October, Bank Nifty to hit 38600; RIL, Infosys, others among top money-making ideas

    We expect Nifty to head towards our target of 18200 in a non-linear manner, therefore advise to follow buy on dips strategy as we don’t expect Nifty to breach strong support of 17400 levels. On sectoral front, BFSI, Consumption, IT & Telecom to outperform while Auto space offer favourable risk-reward setup.

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    09:32 (IST)27 Sep 2021
    Bank Nifty jumps over 1%

    On the sectoral front, Nifty Bank, Nifty Auto, Nifty PSU Bank, Nifty Realty indices gained over 1 per cent. While Nifty Pharma was top loser.

    09:27 (IST)27 Sep 2021
    Nestle India, HCL Tech, Asian Paints top Sensex draggers

    Nestle India, Asian Paints, HCL Tech, Tech Mahindra, Dr. Reddy's, Tata Steel were among top BSE Sensex losers

    09:25 (IST)27 Sep 2021
    M&M, SBI, HDFC Bank top Sensex gainers

    M&M, Maruti Suzuki, State Bank of India (SBI), HDFC Bank, Bajaj-Auto, ICICI Bank, Axis Bank were top Sensex gainers

    09:24 (IST)27 Sep 2021
    Sensex tops 60,300, Nifty crosses 17,900

    BSE Sensex surged 200 points or 0.34 per cent to 60,310, while Nifty 50 index crossed 17,900, rising 58 points

    09:09 (IST)27 Sep 2021
    Sensex, Nifty hit record highs in pre-open

    BSE Sensex surged 261 points or 0.44 per cent to fresh record high of 60,310, while Nifty 50 index claimed 18,000, rising 150 points

    09:08 (IST)27 Sep 2021
    Bullion prices fall for third week straight on FED tapering talk; expect gold to trade sideways

    Commodity prices traded mixed with bullion prices witnessed selling for the week capping upside on higher bond yields. Crude oil prices continued upside on supply crunch with output disruptions and higher demand. Base metals traded firm supported by lower supply while capping gains on China property giant Evergrande’s debt crisis. 

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    08:37 (IST)27 Sep 2021
    HDFC Bank, Reliance Infra, Zee Entertainment, BPCL, PVR, Inox Leisure, Dish TV stocks in focus

    Nifty futures surged over 100 points or 0.57 per cent in early trade on the first day of the week, suggesting a positive start for BSE Sensex and Nifty. In the absence of any major domestic trigger, Indian stock markets would continue to take cues from global markets. Analysts say domestic sentiments remain buoyant as economic recovery is faster than expected and is well reflected in improving macro-data points.

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    08:33 (IST)27 Sep 2021
    Nifty resistance at 18000, bullish trend to continue in largecaps; buy these 2 stocks for gains

    At the beginning of the previous week, the benchmark index griped in volatility and we witnessed a tug of war between bulls and bears in the initial days of the trading week. However, Nifty 50 traded within the rising channel pattern and took strong support near the lower band of the channel pattern and witnessed a sharp rally and registered its new lifetime high levels of 17947.65 on September 24.

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    08:14 (IST)27 Sep 2021
    India needs 4-5 more large banks of SBI’s size: Finance minister Nirmala Sitharaman

    Finance minister Nirmala Sitharaman said on Sunday India requires at least 4-5 more large banks like State Bank of India (SBI) to support the growing credit appetite of a fast-recuperating economy in the post-Covid world. Addressing the 74th annual general meeting of the Indian Banks’ Association (IBA) in Mumbai, the minister said the economy is on a reset mode after the devastation caused by the pandemic. Banks, being the backbone of the financial system, would have to continue to play a critical role in supporting the economy’s resurgence, the minister said. Non-food credit growth remained far from satisfaction and stood at 6.2% in July 2021, against 6.4% a year earlier.

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    08:13 (IST)27 Sep 2021
    Dow, S&P500 end higher on Friday

    In overnight trade on Friday, the Dow Jones and S&P 500 ended higher. The Dow Jones Industrial Average rose 33.18 points, the S&P 500 gained 6.5 points, while the Nasdaq Composite dropped 4.55 points.

    08:12 (IST)27 Sep 2021
    Asian stock markets trade in green

    Asian stock markets were trading in green in early trade on Monday, as investors sought clarity on China’s Evergrande crisis, with Japan stock markets leading the gains. Japan’s Nikkei 225 jumped over 2%, the Topix index gained 2.31%, while South Korea’s Kospi settled lower.

    08:11 (IST)27 Sep 2021
    Can Sensex, Nifty continue surging higher this week? 5 things to know before opening bell

    Domestic equity benchmarks S&P BSE Sensex and NSE Nifty 50 enter this week’s first trading session sitting near all-time highs as bulls regained control on Dalal Street last week. S&P BSE Sensex is currently at 60,048 while the NSE Nifty 50 is sitting at 17,853, both having gained nearly 2% last week. The positive momentum may continue with SGX Nifty surging over 90 points higher, hinting at a positive start for domestic equities. Global cues were positive at the start of the week. “Nifty on the weekly chart formed a long bull candle, which has overlapped previous bull candle. This signal that the uptrend as per medium term is intact and any minor weakness of short term is unlikely to have any sharp negative impact on uptrend of the market,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

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