Share Market HIGHLIGHTS: Sensex ends above 58100 for first time ever, Nifty tops 17,300; RIL jumps 4%

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Updated: September 3, 2021 4:19:56 pm

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 posted record closing highs on Friday. RIL stock gained 4%

Share Market Today, Share Market LiveNifty sectoral indices ended mixed. Nifty Oil and gas index gained over 2 per cent. Image: Reuters

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 posted record closing highs for the second straight day on Friday. BSE Sensex surged 277 points or 0.48 per cent to 58,130, while the Nifty 50 index surged to end at 17,320. Reliance Industries Ltd (RIL) shares were the top index contributor, rising over 4 per cent. Titan Company, Bajaj-Auto, Tata Steel, Maruti Suzuki, Dr Reddy’s Laboratories, Asian Paints were among top index gainers. On the contrary, Bharti Airtel was the worst performer, falling 1.20 per cent. Hindustan Unilever Ltd (HUL), HDFC Bank, Housing Development Finance Ltd (HDFC), IndusInd Bank, Axis Bank were among Sensex losers. Nifty sectoral indices ended mixed. Nifty Oil and gas index gained over 2 per cent. Bank Nifty fell 0.19 per cent to end at 36,762

 

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    15:51 (IST)03 Sep 2021
    SpiceJet staff go on strike at Delhi Airport over salaries; flights normal, issue solved, says airline

    SpiceJet employees at Delhi Airport staged a strike against the company on Friday morning, demanding answers from the domestic carrier’s management over reduced salaries, news agency PTI reported. The protesting staff, however, later during the day, returned to work after holding talks with senior management of the airline. SpiceJet has trimmed the salaries of its employees since March 2020, owing to a stressed financial situation amid the pandemic. SpiceJet share price fell 1.6% during the day, trading at a low of Rs 70.45 on Friday.

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    15:37 (IST)03 Sep 2021
    Sensex, Nifty post record closing highs yet again

    BSE Sensex surged 277 points or 0.48 per cent to 58,129, while the Nifty 50 index surged to end at 17,320

    15:20 (IST)03 Sep 2021
    Sebi tweaks investor grievance redressal mechanism framework

    Capital markets regulator Sebi on Friday tweaked the framework on investor grievance redressal mechanism after receiving representation from stock exchanges. The regulator has modified framework pertaining to speeding up grievance redressal mechanism and threshold limit for interim relief paid out of investor protection fund (IPF) of the stock exchange among others.

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    15:20 (IST)03 Sep 2021
    Indiabulls Housing Finance to launch Rs 1,000-cr public issue of bonds next week

    Indiabulls Housing Finance will launch a public issue of bonds next week to raise up to Rs 1,000 crore, the company said on Friday. The public issue is of secured/and or unsecured, redeemable, non-convertible debentures of face value of Rs 1,000 each, Indiabulls Housing said in a release. The tranche I issue will open on September 6 and close on September 20, 2021.

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    15:18 (IST)03 Sep 2021
    Sensex, Nifty at new highs

    BSE Sensex surged 277 points or 0.48 per cent to 58,129, while the Nifty 50 index surged to a fresh high of 17,326

    14:46 (IST)03 Sep 2021
    Sebi asks AMCs to invest in schemes based on risk; quantify minimum amount to be invested

    Markets regulator Sebi on Friday asked asset management companies (AMCs) to invest in the range of 0.03 to 0.13 percentage of the asset base in their own schemes in a bid to align the interest of the fund houses with investors. The percentage that needs to be invested depends on the risk level of the scheme, which has been categorized into low, low to moderate, moderate, moderately high, high and very high.

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    14:45 (IST)03 Sep 2021
    RIL share price at fresh record high post Just Dial acquisition, rallies 20% YTD; should you buy, sell, hold?

    RIL share price hit a fresh record high of Rs 2,383.80 apiece on BSE intraday on Friday, after the company’s subsidiary Reliance Retail Ventures (RRVL) took the sole control of Just Dial with effect from September 1, 2021. Now, RRVL holds 40.98 per cent of the local search engine. Moreover, the oil-to-telecom conglomerate is scheduled to launch the JioPhone Next smartphone on Ganesh Chaturthi, 10 September 2021. Mukesh Ambani’s Reliance Industries Ltd shares crossed the previous high of Rs 2,368.80, touched on 16 September 2020.

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    13:52 (IST)03 Sep 2021
    Sensex now eyes 58,700 target, support at 57,500

    Sensex achieved another milestone of 58k and it is surprising the street by its ferocious move and creating new history almost every day. This bull run has more legs to go and it is just a matter of time when Sensex will cross the 60000 mark because we are in a roaring bull market that may continue for the next 2-3 years. Technically, 58700 is an immediate target level while 57500 is immediate support whereas 56300-56000 will be a strong demand zone at any correction. Santosh Meena, Head of Research, Swastika Investmart

    13:49 (IST)03 Sep 2021
    Indian share market at new high; may show some correction

    Today BSE benchmark index Sensex touched the 58000 marks for the first time. The rally was driven by rally in IT, Pharma and Metals stocks. Markets have been making new highs daily, in the long term we are bullish, however, after such a move markets might show some correction. Investors are advised to keep trailing stop losses to their positions. Rahul Sharma, Co-Founder, Equity99

    13:06 (IST)03 Sep 2021
    Warren Buffett made $5 billion from these 3 shares this week; Apple stock among gainers

    Warren Buffett’s Berkshire Hataway has made more than $5.21 billion so far this week from just three stocks. The largest contributor to Warren Buffett’s wealth this week was the iPhone maker Apple. As the stock surged higher this week, Buffett’s Berkshire Hataway made billions of dollars, calculated on the basis of Berkshire’s holdings in Apple at the end of last year. The billionaire investor, who turned 91 earlier this week, is known for his investing methodology and picking stakes in multi-baggers.

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    12:55 (IST)03 Sep 2021
    Reliance Industries stock hits new high

    Reliance Industries share price soared higher on Friday to hit a new all-time high of Rs 2,370 per share. RIL stock price is up 3.3% today.

    Check live price: Reliance Industries

    12:48 (IST)03 Sep 2021
    Ami Organics IPO: Last day to subscribe, grey market premium falls; should you still subscribe?

    Ami Organics’ Rs 570-crore IPO has been subscribed 5.7 times so far on the last day of the bidding. The public issue has received bids for 3.7 crore equity shares against 65.42 lakh shares on offer. In the primary market, the grey market premium in Ami Organics has fallen to Rs 95 from Rs 155, earlier this week, over the issue price. On Friday, Ami Organics shares were trading at Rs 705, a premium of 15.57 per cent from the IPO price of Rs 610, according to the people who deal in unlisted shares of the companies.

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    12:36 (IST)03 Sep 2021
    RIL stock nears all-time high post Just Dial deal

    Reliance Industries Ltd (RIL) shares were trading near record high levels. The stock surged to a day's high of Rs 2,362, a few points away from record-high of Rs 2,368.80

    12:30 (IST)03 Sep 2021
    Brokerage view on HDFC Life's acquisition of Exide Industries

    The total consideration of Rs 66.87bn for Exide Life, of which Rs 7.26bn is cash, values Exide Life at 2.46x current EV, given Exide Life June 2021 EV of Rs 27.11bn. We maintain ADD Rating for HDFL with a revised price target of Rs 783, valuing HDFL at 4.3x FY23 P/EV. We most prefer IPRU in the life insurance space. Yes Securities

    12:25 (IST)03 Sep 2021
    Share market may fall 10%; analysts fear steep correction due to lofty valuations as Sensex hits 58k

    Bulls might be on the rampage on Dalal Street but lofty valuations of the Indian equities present a reason for concern and the markets could perhaps witness up to 10 per cent correction, according to analysts. Benchmark indices have been on a record-breaking rally lately and August witnessed the stock market reaching many new highs. The BSE benchmark soared over 9 per cent last month.

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    11:38 (IST)03 Sep 2021
    Indian services activity rebounds at fastest pace in 18 months in August amid rising business orders

    India’s services sector expanded in August at the fastest pace in one-and-a-half years amid strong inflows of new work and improved demand conditions, a monthly survey said on Friday. The seasonally adjusted India Services Business Activity Index rose from 45.4 in July to 56.7 in August, as the reopening of several establishments and increased consumer footfall boosted sales.

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    11:16 (IST)03 Sep 2021
    F&O expiry outlook: Nifty set to hit 17500, Bank Nifty must hold above 37000 for further rally

    NSE Nifty 50 index is eyeing 17500 target in the current week to 9 September options expiry. In today’s upbeat session, Nifty 50 hit a new all-time high of 17311.95, while Bank Nifty topped 37100. Analysts expect Bank Nifty to outgun Nifty 50 index and hit a fresh high of 37900 during this week’s expiry. Within the banking sector, analysts see private banks leading the surge while the contribution is restricted from the PSU pack. 

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    10:57 (IST)03 Sep 2021
    RIL share price nears record high level

    Reliance Industries Ltd (RIL) share price was nearing the record high of Rs 2,368.80 level. On Friday, it gained over 1 per cent to Rs 2,335 apiece

    10:52 (IST)03 Sep 2021
    Listing of new and old companies

    We expect the listing of private companies over the next few years to further contribute to India’s market capitalization. India already has several unicorns and deca-corns in many new-tech sectors propelled by a vibrant start-up eco-system. The successful listing of new-tech companies in India shows that (1) the Indian new-tech companies have achieved considerable scale, (2) the Indian market has sufficient breadth and depth to absorb such listings and (3) investors are savvy enough to value new business models. Kotak Institutional Equities

    10:33 (IST)03 Sep 2021
    Indian service sector growth resumes in August

    At 56.7 in August, up from 45.4 in July, the seasonally adjusted India Services Business Activity Index was above the 50.0 neutral threshold for the first time in four months. The latest reading pointed to a marked rate of expansion that was the fastest in one-and-a-half years. Where growth was reported, panellists mentioned strong inflows of new work and improved demand conditions.

    10:21 (IST)03 Sep 2021
    HDFC Life Insurance to acquire Exide Life for Rs 6,687 cr; HDFC Life stock tanks 3%, Exide Industries jumps 9%

    HDFC Life Insurance Company on Friday announced the acquisition of Exide Life Insurance Company for Rs 6,687 crore. “HDFC Life will acquire 100% stake in Exide Life Insurance from Exide Industries via issuance of (8.7 crore) shares at an issue price of Rs 685 per share and a cash payout of Rs 726 crore aggregating to Rs 6,687 crore,” HDFC Life Insurance said in a statement on Friday morning. Investors weren’t pleased: HDFC Life Insurance Company’s stock fell more than 3% during the opening hour of trade to hit a low of Rs 728.55 per share. HDFC Life is the biggest listed private insurance company in terms of market capitalisation.

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    10:10 (IST)03 Sep 2021
    Gold Price Today, 3 Sep 2021: MCX Gold may trade in Rs 46850-47150 range; how to trade MCX silver, COMEX gold

    Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading firm on Friday, as global rates gained buoyed by a weaker dollar. On Multi Commodity Exchange, gold October futures were trading at Rs 47,070 per 10 gram, up Rs 80 or 0.17 per cent. While silver December futures were up just Rs 53 at Rs 63,338 per kg. In the previous session, gold ended at Rs 46,991 and silver at Rs 63285. 

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    09:46 (IST)03 Sep 2021
    Indian Rupee may open flat; likely to trade in 72.90-73.30 range

    The Indian Rupee is expected to open on a flat note and is likely to trade in the range of 72.90-73.30 zone for the day. Over last four trading sessions, IPO, corporate borrowing and MSCI month-end rebalancing flows were continuously supporting the Rupee against dollar. To name a few, *Adani green raised $750 mln, Axis bank raised $600 mln and SBI raised $550 mln via overseas AT1 bond sale.  However, the difference between the last two trading sessions of August month and the first two trading sessions of the current month is the central bank’s intervention. It seems that RBI has absorbed & supported the 72.90 levels and will not tolerate any further gains beyond the same levels. On the data front, rising India’s trade deficit and weakness in manufacturing PMI despite lower cases in India doesn’t support the Rupee’s rally and odds of depreciation increases from the current level. Amit Pabari, CR Forex Advisors

    09:26 (IST)03 Sep 2021
    Bank Nifty tops 37,000

    Except for Nifty FMCG, Nifty IT and Nifty Pharma, all the sectoral indices were trading in the green. Bank Nifty gained 0.61 per cent to cross 37,000 levels

    09:23 (IST)03 Sep 2021
    HCL Tech, TCS, Maruti top Sensex losers

    HCL Tech, Tata Consultancy Services (TCS), Maruti Suzuki, Nestle India, Hindustan Unilever Ltd (HUL), Tech Mahindra were among Sensex laggards

    09:22 (IST)03 Sep 2021
    RIL, SBI, Kotak Mahindra Bank top Sensex gainers

    Kotak Mahindra Bank, Reliance Industries Ltd (RIL), Titan Company, IndusInd Bank, Tata Steel, ICICI Bank, Axis Bank, State Bank of India (SBI) were top Sensex gainers

    09:20 (IST)03 Sep 2021
    BSE Sensex claims 58,000; Nifty hits 17,300

    BSE Sensex gained 236 points to cross the crucial 58,000-mark, while the Nifty 50 index jumped 74 points to claim 17,300

    09:13 (IST)03 Sep 2021
    HDFC Life to acquire Exide Life for Rs 6,687 crore

    Acquisition of 100% of the share capital of  Exide  Life  Insurance  Company for a  total consideration of  Rs  6,687  crore, of which  Rs  725 crore will be payable in cash and the balance by way of issue  8.70 crore equity shares of  face value of  Rs  10 of the company issued at a price of Rs 685 per share to Exide Industries. (BSE filing)

    09:09 (IST)03 Sep 2021
    Gold may remain choppy amid Fed uncertainty

    COMEX gold trades marginally higher near $1815/oz after a 0.2% decline yesterday. Gold trades higher supported by weaker US dollar and safe haven buying amid mixed economic data, slowdown in China, persisting virus risks and rising inflationary pressure. However, weighing on price is weaker investor interest as is evident from continuing ETF outflows. Firmness in equities has also reduced gold’s appeal as an alternative asset. Gold may remain choppy amid Fed uncertainty but increasing risks to global economic recovery may keep prices supported. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research, Kotak Securities

    09:08 (IST)03 Sep 2021
    Nifty support at 16,900

    On the technical front, 17300 may act as immediate resistance for Nifty 50 followed by 17,400 while 16,900 remains crucial support for Nifty 50. Mohit Nigam, Head - PMS, Hem Securities

    09:06 (IST)03 Sep 2021
    Indian share market in over-valued zone

    We know from experience that markets can surprise - both on the upside and downside. Greed and fear can cause overreaction on the upside and downside. From the valuation perspective, now we are in the over-valued zone; but excesses can sustain in a ferocious bull market like the present one. So the only option before long-term investors is to remain invested and occasionally book some profits and move money to safe fixed-income assets. It is possible that by the end of this financial year Nifty may be around the present level or lower than that. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

    09:05 (IST)03 Sep 2021
    Sensex claims 58,000 in pre-open

    BSE Sensex gained 300 points to cross the crucial 58,000-mark, while the Nifty 50 index was trading flat in pre-open

    08:51 (IST)03 Sep 2021
    Nifty eyes 17500 target now

    The short term trend of Nifty is in a strong mode and the broad market indices were also in the driver's seat. One may expect further upside in the next 1-2 sessions, before showing another round of consolidation or minor profit booking from the new highs. The next upside levels to be watched around 17500 and immediate support is placed at 17150. Nagaraj Shetti, Technical Research  Analyst, HDFC Securities

    08:50 (IST)03 Sep 2021
    Three oil PSUs to set up dozen ethanol plants at cost of Rs 7,000 crore: Oil secretary

    State-run oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation have been given the mandate to set up around 12 ethanol manufacturing plants as part of a road map to meet the 20% ethanol blending target by 2025.

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    08:50 (IST)03 Sep 2021
    How to make LIC the IPO of a lifetime

    The IPO should have anchor investors (with 10% reservation) as they provide a significant comfort on pricing. The allotment to them should be at their final bid price. Increase the retail bucket from 35% to 60%. Within this, 15% should be reserved for the LIC family: 29 crore policy holders, 1.15 lakh employees and 15.50 lakh agents. Earmark 20% for first-time investors (new demat accounts); LIC can be an excellent vehicle to get new investors into the equity market. The balance 25% can go to the general retail investors.

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    08:48 (IST)03 Sep 2021
    Nifty set to hit fresh record high today

    Nifty is expected to open around 17260, up by 30 points. Nifty is in a strong uptrend and is now headed for 17275 and 17310 in the coming few trading sessions.17150 and 17060 will act as strong support levels for Nifty. Traders can consider buying on every correction with strict stop-loss as long as Nifty is trading above 16900 levels. Gaurav Udani, CEO & Founder, ThincRedBlu Securities

    08:45 (IST)03 Sep 2021
    RIL, Just Dial, IOCL, BPCL, HPCL, Vodafone Idea, Adani Green, PNB, Coal India stocks in focus

    Nifty futures turned positive and were trading 26.50 points up at 17,286 on Singaporean Exchange, indicating a gap-up start for BSE Sensex and Nifty 50. Benchmark indices are likely to hit fresh record highs in today’s session. Investors would react to the Services PMI data for August, due to be announced today.

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    08:26 (IST)03 Sep 2021
    F&O expiry outlook 9 September: Nifty maximum OI at 17000; keep booking profit in rally, avoid aggressive long

    Nifty has been enjoying a strong Bull run since the last 16 – 17 months and in the last few weeks also, it gave some mesmerizing moves. Although the recent momentum has been extremely strong, we can see some extreme levels in the benchmark index now. If we take a broader view, we can see the Nifty reaching the 200% ‘Fibonacci Retracement’ of last year’s massive decline from Jan’20 high to March’20 low. Also timewise, Nifty has entered 7th zone as per ‘Fibonacci Time Series’ on the monthly time frame chart.

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    08:22 (IST)03 Sep 2021
    Petrol and diesel price today September 3: Fuel rates steady; Check price in Delhi, Mumbai, Kolkata here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of petrol and diesel were left unchanged for the second day straight on Friday by oil marketing companies. Today, petrol in the national capital costs Rs 101.34 per litre, while diesel in the capital city is retailing at Rs 88.77 per litre. The previous cut in Petrol and diesel prices came on September 1. 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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    08:06 (IST)03 Sep 2021
    S&P500, Nasdaq eke out record close

    In overnight trade on Wall Street, the S&P 500 and Nasdaq eked out record finishes. The Dow Jones Industrial also gained modestly. The Dow Jones Industrial Average rose 0.37 per cent, the S&P 500 gained 0.28 per cent, and the Nasdaq Composite added 0.14 per cent.

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