Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 made record closing highs on Wednesday, a day before weekly F&O expiry day. BSE Sensex jumped 452 points or 0.75 per cent to end at 60,737, and NSE Nifty 50 index settled at 18,161, up 170 points or 0.94 per cent. M&M was the biggest gainer among BSE 30-share frontline companies pack, rallying 5.15 per cent, followed by Power Grid Corporation of India, ITC, L&T, Tech Mahindra, Titan Company, Tata Steel, among others. On the flip side, Maruti Suzuki, Hindustan Unilever Ltd (HUL), Nestle India, Axis Bank, SBI were top index laggards. Barring Nifty Realty, all the sectoral indices ended in the green on Wednesday. Bank Nifty was up 0.3 per cent, Nifty Auto soared 3.43 per cent, Nifty IT 1.19 per cent, and Nifty Metal added 1.5 per cent.
BSE Sensex jumped 452 points or 0.75 per cent to end at 60,737, and NSE Nifty 50 index settled at 18,161, up 170 points or 0.94 per cent
Indian Rupee appreciated amid weakness in Dollar and rise in risk appetite in the domestic markets. Further, rupee gained strength on improved macroeconomic data. India CPI data showed that inflation eased to 5-month low of 4.35% in September and remained within RBI’s comfort zone. However, sharp gains were prevented on surge in crude oil prices and as investors remained vigilant ahead of FOMC meeting minutes and inflation data from US. Rupee may trade in the range of 75.10 to 75.80 in next couple of session. Raj Deepak Singh, Head-Derivatives – ICICI Securities
The hallmark of today’s record-breaking moves by the Sensex and Nifty is the surge in Tata stocks led by Tata Motors and strongly supported by Tata Consumer, Tata Chemicals and Tata Power. Surge in a heavy weight like Tata Motors by more than 20 percent in a day is extremely rare. But this surge is backed by positive news of massive investment of Rs 7500 cr by TPG. Another important feature is the good performance of HDFC bank which is showing signs of coming back as a market leader. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Maruti Suzuki, Hindustan Unilever Ltd (HUL), Nestle India, SBI (State Bank of India), Axis Bank were top Sensex losers ahead of closing
M&M, Power Grid Corporation of India, ITC, Tata Steel, Tech Mahindra, L&T were among top BSE Sensex gainers at this hour
BSE Sensex and Nifty 50 were trading at record high levels on Wednesday, on the back of buying in metal and auto stocks. Headline indices, Sensex and Nifty scaled their respective lifetime highs today, hitting 60,789.65 and 18,177.95, respectively. Amid this rally, just four stocks — Power Grid Corporation of India, State Bank of India (SBI), Sun Pharma, and Titan Company — hit 52-week highs on the 30-stock BSE Sensex.
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Avenue Supermarts shares topped the Rs 5,000 mark for the first time as they rallied 18 per cent to hit a new high of Rs 5,599 on the BSE.
BSE Sensex soared further to 60,836 level, a new record high level in afternoon deals on Wednesday. While NSE Nifty 50 was just short of 18,200 level
The Gati Shakti master infra plan will usher in a new era for the Indian infra sector thus spurring economic growth. The proposal to integrate all infrastructure planning across sectors such as railways, aviation, gas, power, renewables, etc will enable seamless coordination amongst the various departments, provide holistic governance and enhance the efficiency of execution thus leading to massive savings in costs and resources. The success of the master infra plan will however depend on timely adoption by the states. Vikash Khandelwal, CEO, Eqaro Guarantees
For Bank Nifty, 37700 looks like an inflection point. The 37700 strike has seen heavy writing on both Call as well as Put side. If this level is taken out on the upside, we may see some more upside taking place in Bank Nifty. Highest Call OI is at 40000 followed by lower strike of 39000 for the Index. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services
Keeping tomorrow’s expiry in view, Nifty has, in all probability, dragged its support higher as heavy Put writing is seen at 18000 and 18100 levels. This indicates that market participants feel that there are relatively less chances of Nifty slipping below 18000 levels by tomorrow’s expiry. On the higher side, the Call OI has shifted higher between 18300 and 18500 indicating the creation of some more room for the Nifty. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services
We continue to maintain our bullish views on Nifty and Bank Nifty. Nifty has crossed a psychological level of 18000, now 18450-18600 are the key levels to watch out for. Bank Nifty is still struggling as compared to Nifty but still, has the potential to check psychological levels of 40000 and sustain above it very soon. Vishal Wagh, Head of Research, Bonanza Portfolio Ltd
BSE Sensex soared higher and hit a new record high of 60,790, while the Nifty 50 index scaled a fresh lifetime high of 18,177.95
The Nifty has touched new all-time high today on the back of optimism due to continued improvement in economic activities. There has been a significant improvement in economic activities led by services in September given further relaxation in restrictions due to significant decline in new Covid cases. Expectation of further improvement in demand during the ongoing festive season along with strong FII and DII flows are also supporting the rally. However any further deterioration in the global energy crisis will lead to higher energy prices and coal shortages for a longer period of time which can have an adverse impact on growth and is one of the key risks to the current market rally. Jyoti Roy – DVP- Equity Strategist, Angel One
Helped by the ongoing rally in equities, the market capitalisation of BSE-listed companies has reached a fresh record high of Rs 2,70,24,154.49 crore in morning trade on Wednesday. Rallying for the fifth straight session on Wednesday, the 30-share BSE benchmark jumped 376.44 points to its all-time high of 60,660.75.
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Credit and Finance for MSMEs: MSME lenders U GRO Capital and Kinara Capital on Wednesday announced a strategic co-origination tie-up to provide collateral-free loans to small businesses. Through this partnership, the two companies are looking to disburse around Rs 100 crore in the next eight-12 months to MSMEs across the manufacturing, trading, and services sectors. The Reserve Bank of India (RBI) back in 2018 had issued guidelines on co-origination of loans by banks and non-banking and financial companies (NBFCs) to help former in priority sector lending enabled by NBFCs’ reach.
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Tata Motors share price surged as much as 20 per cent to Rs 502 apiece on BSE on Wednesday, after Rakesh Jhunjhunwala’s portfolio firm said to raise Rs 7500 crore ($994 million) from private equity firm TPG’s Rise Climate Fund and Abu Dhabi’s ADQ to expand its passenger electric mobility business. The stock has no circuit limits, as it trades in the futures and option (F&O) segment. Analysts say that this report came as a bonus for Tata Motors as its share price was already soaring on account of robust global wholesale numbers. The stock is likely to rally 20 per cent more to Rs 600 in next few quarters.
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Billionaire Mukesh Ambani’s Reliance Industries has invested EUR 25 million in German solar wafer maker NexWafe GmbH to use the firm’s technology to set up giga-scale wafer manufacturing facilities in India.
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Indian Rupee Spot weakened to 15-month low of 75.67 this week hurt by fears of elevated inflation amid surging crude oil prices and stronger dollar. Domestic equities hitting all-time highs could not provide a cushion either. Having said that, India’s CPI fell to five-month low in September at 4.35%, well within RBI’s comfort zone of 2% – 6%, providing RBI scope to continue with its accommodative policy stance to achieve sustainable economic recovery. With investors keenly awaiting US retail sales, inflation and FOMC meeting minutes due this week, we may see dollar trade range bound between 94.2 and 94.6 and so Rupee is likely to swing back to 75.3 levels with a broader trading range of 75-75.5 for the coming sessions. Kaynat Chainwala – Fundamental Research Analyst Currencies, Anand Rathi Shares and Stock Brokers
Credit disbursement by public and private lenders, small finance banks, non-banking financial companies, and other lending institutions under the Mudra loans scheme stood at 95 per cent of the amount sanctioned in a little over the first half of the financial year 2021-22, official data showed. The self-employment and entrepreneurship promotion scheme Pradhan Mantri Mudra Yojana (PMMY), launched by Prime Minister Narendra Modi in 2015, is dedicated to micro enterprises, which are generally proprietary concerns at the bottom of the entrepreneurial pyramid, seeking loans up to Rs 10 lakh.
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Industrial production in Aug’21 surpassed the Aug’19 level for all but durables. Past bunching up computer sales seem to be depressing durables. The onset of the festival and marriage season offers hope. India recorded 11.9% industrial growth in Aug’21, in line with the consensus expectation. The slow opening up since mid-May’20, post the national lockdown, created a subdued base. The peaking of the second wave in early May’21 also helped improve sequential growth. Anand Rathi
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading flat in India on Wednesday, as global prices remained steady ahead of US inflation data. On Multi Commodity Exchange, gold December futures were trading at Rs 47,195 per 10 gram, and silver December futures were ruling at Rs 61,818 per kg, up Rs 232 or 0.38 per cent. Globally, yellow metal steadied as investors awaited US inflation data and minutes from the Federal Reserve’s last policy meeting for clues as to when the central bank would start withdrawing its pandemic stimulus. Spot gold was flat at $1,760.46 per ounce, and US gold futures rose 0.1% to $1,761.20.
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The index has opened with a gap, that too above 18050. This is an encouraging sign. It is imperative we sustain this momentum. If the Nifty can close above the 18050 level, the next two targets would be 18200 and 18400. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
On the sectoral front, barring Nifty Media, all the sectoral indices were trading in the positive territory. Nifty Bank index gained 0.4 per cent, Nifty Auto 2.2 per cent, and Nifty IT was up half a per cent
Tata Steel, State Bank of India (SBI), Infosys and Hindustan Unilever Ltd (HUL) were among the top Sensex losers
Mahindra and Mahindra, Tech Mahindra, Bajaj-Auto, Asian Paints, NTPC, L&T, Bajaj Finserv, Kotak Mahindra Bank were top Sensex gainers
BSE Sensex hit a fresh record high of 60,621, rallying over 300 points, and NSE Nifty was just shy of 18,100
The benchmark indices NSE Nifty 50 and BSE Sensex continued positive momentum on Tuesday. After a muted opening, the Nifty/Sensex slipped over 50/150 points, but one more time they took support near 17850/59850 and reversed sharply. Among sectors, PSU bank stocks outperformed, and the Nifty PSU Bank index rallied over 3 per cent. While profit booking was seen in IT stocks. Technically, on daily and intraday charts, the index has formed promising higher bottom formation.
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A total of 15 BSE-listed companies such as Infosys, Wipro, Mindtree, Advik Laboratories, Aditya Birla Money, Morarka Finance, National Standard, Perfect-Octave Media Projects, Plastiblends India, Raghav Productivity Enhancers, SDC Techmedia, Sanathnagar Enterprises, Stratmont Industries, and Unistar Multimedia were scheduled to release quarterly earnings on 13 October 2021.
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Nifty has support in 17800-17850 range .Nifty is in a bullish trend and traders can consider buy on dips with strict stoploss for 18100 and 18140 as targets. Gaurav Udani, CEO & Founder, ThincRedBlu Securities
NexWafe GmbH (NexWafe) announced the induction of Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of Reliance Industries Limited (Reliance) as a strategic lead investor in its EUR 39 million ($45 million) Series C financing round with an investment of EUR 25 million ($29 million) in phase one. The investment by Reliance will accelerate product and technology development for NexWafe, including completion of the commercial development of NexWafe’s solar photovoltaic products on prototype lines in Freiburg.
Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of Reliance Industries Limited (RIL), and Denmark-based Stiesdal A/S (Stiesdal) signed a cooperation agreement for technology development, and manufacturing of Stiesdal’s HydroGen Electrolyzers in India. The agreement was signed during a state visit of Denmark to India and announced in the presence of the Hon’ble Mr. Narendra Modi, Prime Minister of India and the Hon’ble Ms. Mette Frederiksen, Prime Minister of Denmark.
India’s economy, which contracted by 7.3 per cent due to the COVID-19 pandemic, is expected to grow by 9.5 per cent in 2021 and 8.5 per cent in 2022, according to latest projections released by the International Monetary Fund on Tuesday. India’s growth projection released by the latest World Economic Outlook remains unchanged from its previous WEO (World Economic Outlook) update of July this summer but is a three-percentage point in 2021 and 1.6 percentage point drop from its April projections.
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In the overnight trade on Wall Street, US stocks finished lower. The Dow Jones Industrial Average fell 117.72 points, or 0.34%, to 34,378.34, the S&P 500 lost 10.54 points, or 0.24%, to 4,350.65 and the Nasdaq Composite dropped 20.28 points, or 0.14%, to 14,465.93.
Asian stock markets were trading mixed in early trade. Japan’s Nikkei slipped 0.18% while the Topix index dipped 0.28%