Share Market HIGHLIGHTS: Sensex ends above 60,000 for first time, Nifty tops 17,850, record closing high

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Updated: September 24, 2021 4:20:17 pm

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

Share Market Today, Share Market LiveOn the sectoral front, Bank Nifty index gained to end at 37,830, while Nifty IT index added nearly one per cent

Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 posted fresh record closing highs on Friday. BSE Sensex surged 163 points or 0.27 per cent to end at 60,048, while the Nifty index gained 30 points or 0.17 per cent to settle at 17,853. Asian Paints, M&M, HCL Tech, HDFC Bank, Bharti Airtel, Maruti Suzuki, Infosys, ICICI Bank were among the top index gainers, which helped Sensex to surge past the crucial 60,000-mark on a closing basis. On the flip side, Tata Steel, State Bank of India (SBI), Axis Bank, ITC, NTPC, Bajaj Finance, HUL capped the gains in the index. On the sectoral front, Bank Nifty index gained to end at 37,830, while Nifty IT index added nearly one per cent. The Nifty Metal index was the top loser.

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Highlights

    16:10 (IST)24 Sep 2021
    BSE Realty index tops 4,000-mark

    The housing cycle seems to have turned with residential demand coming back strongly in the market on the back of strong hiring by the tech companies, steady reduction in unsold inventory, record low home loan rates and government support. We are seeing a rising number of launches even before the festive season, which have been very well received by the market. The pace of consolidation will accelerate as the economy rebounds from the pandemic. The strong will become stronger, due to their lean balance sheets, easier access to cheaper capital and the weaker developers dropping out of the market due to their numerous challenges. Sharad Agrawal, Executive Director – Capital Markets, Knight Frank India

    16:08 (IST)24 Sep 2021
    Realty developers well positioned to invest in growth

    The top tier developers have used the pandemic period to consolidate their hold on the market through gain in market share, while the tier 2/3 players continue to face liquidity challenges, stuck projects and weaker sales and collections. The larger players have also reduced their debt over this period and have brought down their cost of borrowings as well, positioning themselves to take advantage of the post-covid rebound in demand. Developers have brought down their debt by equity raises, asset sales, stake dilution and reduction in corporate overheads. They are now well positioned to invest in growth and gain market share. Sharad Agrawal, Executive Director – Capital Markets, Knight Frank India

    15:41 (IST)24 Sep 2021
    Sensex, Nifty post record closing highs

    BSE Sensex surged 163 points or 0.27 per cent to end at 60,048, while Nifty index gained 30 points or 0.17 per cent to settle at 17,853

    14:58 (IST)24 Sep 2021
    Long-term outlook positive for Indian share market

    The Sensex has hit 60,000 much ahead of our target date of December 2021. We continue to remain positive on the long term outlook of Indian equities. Corporate balance sheets have been significantly strengthened with record equity raise in last two years. On the revenue front, the listed universe is on firm ground with accelerated trend of unorganized to organized, digital super-cycle and sustained cost management. We expect the government to continue spending on infrastructure and fast track the reform agenda as we have seen with lowered corporate tax rates, PLi schemes, RBI support, strategic divestments and so on. With accommodative financial conditions worldwide, we see the mega rally in risk assets continuing. Amar Ambani, Senior President & Head of Institutional Equities, YES Securities

    14:37 (IST)24 Sep 2021
    India has been one of the best return-yielding markets among the emerging market

    The Indian equity market is on a roll. The bullish sentiment continued with key indices Sensex attaining a level of 60,000 for the first time ever and Nifty50 near 18,000 level. The key thing is the swiftness of the rally. The time taken for Sensex to move from 55,000 to 60,000 level came in only 29 trading sessions. That was a rally of nearly 9% in less than 2 months. The rally points out the confidence of investors in the underlining strength of the Indian market. India has been one of the best return-yielding markets among the emerging market spectrum. Not only the institutional investors but also the retail investors provided legs to the current market rally. India saw millions of new retail investors entering the market as interest on bank deposits dipped. The number of Demat accounts has crossed 50 million. Nish Bhatt, Founder & CEO, Millwood Kane International

    12:57 (IST)24 Sep 2021
    T+1 settlement: What it means for investors? Check how it works, why are FPIs opposing?

    T+1 settlement announced by SEBI currently allows exchanges an option to allow securities which they wish to on an optional basis by giving one month notice and once they move to T+1 settlement in particular security they need to continue in that for 6 months period. The concept of T+1 settlement per se is very good as it allows faster movement of funds and securities; and more liquidity in the hands of investors. Today if an investor sells on Thursday, he receives the money on Monday (T+2 working days). With T+1 settlement, it will be Friday itself.

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    12:19 (IST)24 Sep 2021
    Bulls look active; use every decline as a buying opportunity

    On a weekly chart, the Index has been trading with Higher High & Higher Bottom formation and managed to make a life-time high at 60326 levels. Furthermore, the Index has been trading above all the moving averages as well as Momentum indicator Stochastic is also trading with a positive crossover which further adds strength in the counter. The Index has been relied straight upon after giving a breakout of 53000 marks and bulls are looking active, every decline should be treated as a buying opportunity. At the present level, the Index has been trading at uncharted territory. The immediate resistance comes at 61500, crossing above the same can show 63000 levels while support at 57800 levels. Palak Kothari, Research Associate, Choice Broking

    11:54 (IST)24 Sep 2021
    Aditya Birla Sun Life AMC IPO opens next week; check price band, grey market premium, bid details, issue size

    Aditya Birla Group’s AMC arm, Aditya Birla Sun Life AMC IPO will open for subscription on 29 September, at a price band of Rs 695-712 per share of face value of Rs 5 each. In the primary market, Aditya Birla Sun Life AMC shares were quoting at Rs 50 premium, over the IPO price. The shares were seen trading at Rs 762, a 7 per cent premium, over the upper band of the issue price, in the grey market, according to the people who deal in the unlisted shares of the company.

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    11:10 (IST)24 Sep 2021
    Will BSE Sensex at 60,000 level sustain?

    Sensex mounted the 60k mark as risk appetite improved after fears surrounding Evergrande debt crisis eased. BSE found almost 60% of the stocks advancing in the first hour. But we remain watchful of markets weighing in rate hike prospects as US treasury yields have begun to firm up, following Fed's taper signals. Anand James, Chief Market Strategist at Geojit Financial Services

    11:08 (IST)24 Sep 2021
    Indian stock market bull run likely to continue for next 2-3 yrs

    The roaring bull market is continued in the Indian market with climbing all walls of worries where Sensex has crossed the new milestone of 60000. We are in a classical bull market like the 2003-2007 phase where this bull run is likely to continue for the next 2-3 years however I will put the word of caution after a parabolic move in lats few days because short term correction can't be ruled out in coming days. Global indices like Dow Jones and Dax are near to their critical resistance and may witness a correction from here. We are in a strong uptrend and outperforming global markets while some mean reversion can be seen in the coming days where rising crude oil prices and surge in US bond yield could cause near-term volatility. Since the overall view is bullish and Sensex can march towards the 100000 mark in this bull run, therefore, investors are advised to remain invested where any 10-20% correction will be a great buying opportunity. Santosh Meena, Head of Research, Swastika Investmart

    11:06 (IST)24 Sep 2021
    Key factors behind Sensex rally

    Sensex opened gap up on Sept 24 and breached 60,000 in a runaway rally. The time taken for the last 10,000 points was much less (246 days vs the previous 10,000 points taking 609 days). Also the time taken for the Sensex to gain the last 5000 points was just 42 days (vs 204 days for the previous 5000 points). This shows the impact of return of FPIs and local investors continuing to invest despite headwinds that cropped up time and again. The absence of a 10% correction in the indices over the last 18 months shows the maturity of the local investors but also throws up the possibility of that happening over the next few weeks/months. Dhiraj Relli, MD & CEO, HDFC Securities

    11:05 (IST)24 Sep 2021
    Nifty at 18,000 on cards?

    For the near-term, new highs in Nifty cannot be ruled out as the bullish momentum remains very firm. However, we suggest keeping positions light at these levels and trading with tight stop losses. The immediate hurdle for Nifty now is the psychological 18000 level. If the index manages to sustain above this, we could see an attempt towards 18345, which would mark the 1.618 fibonacci extension of the rally from 14151 (22-April low) to 15901 (15-June high) extended from 15513 (28-July low). On the downside, 17790 is the immediate support, break below which could lead to a modest correction towards 17560. Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS

    11:04 (IST)24 Sep 2021
    Here's what helped Sensex achieve 60,000?

    It has been a historic week for the Indian markets, with Sensex moving past the 60000 level for the first time ever and Nifty coming a whisker away from touching the 18000 level. The surge in the Indian markets this week has come on the back of reviving global risk appetite amid a slight ease in default-related worries over China's property giant Evergrande Group. Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS

    10:59 (IST)24 Sep 2021
    Gold prices may fall further next week, MCX silver at fresh low of 2021; here’s what charts say

    The gold market is expected to face a challenging environment as rising real interest rates and a stronger U.S. dollar will act as significant headwinds for 2021. Gold prices are expected to struggle as the US Fed is looking to shift its monetary policy and will start tapering their assets by the end of this year and conclude in the second half of the next year. The latest economic projections show that the central bank committee sees the potential for one rate hike in December 2022. There is no support for gold right now as rising rates will create a dent in investment demand for gold. Gold is also not getting support from economic uncertainty either as Covid cases are declining world-wide except in the US.

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    10:45 (IST)24 Sep 2021
    Given rich valuations, do not ignore intermittent volatility in Indian stock market

    Equity market today had a historical day with Sensex touching 60,000 for the first time driven by large caps with many index heavyweights touching new highs. The rally in domestic market is driven by positive global cues, strong inflows by FIIs/DIIs, good corporate earnings, falling Covid-19 cases, upbeat corporate commentaries and low cost of capital. Amid the buoyant sentiment and increased activity, valuations has reached elevated levels and demand consistent delivery on earnings expectations. Given rich valuations, one cannot ignore intermittent volatility – however we expect the positive momentum to continue on the back of improving economic activity and recovery in corporate earnings. MOTILAL OSWAL, Managing Director & CEO, MOTILAL OSWAL FINANCIAL SERVICES LTD

    10:29 (IST)24 Sep 2021
    Rupee above 73.85-90 may move near 74.20-50 in near term

    In the past session, the rupee traded on a stable to stronger note tracking positive equities and consistent inflows. However, the continued rising crude oil prices to a 3 year high due to supply disruptions could dent the sentiments. Going ahead, developments in the dollar over the debt ceiling and risk for Evergrande's potential fallout will drive the movement in the USDINR pair. Technically, for dollar-rupee pair 73.85-90 levels will act as an important resistance to watch for. If the pair breaks and consistently trades above 73.85-90 levels, then the rupee is most likely to move near 74.20-50 levels in the near term. Amit Pabari, managing director, CR Forex Advisors

    10:01 (IST)24 Sep 2021
    Sansera Engineering stock lists at 9% premium to IPO price; shares price crosses Rs 800 on D-St debut

    Sansera Engineering shares made a strong debut on stock exchanges on Friday, 24 September. The stock was listed at Rs 811.35 apiece, rallying over 9 per cent from the IPO price of Rs 744 per share. At the time of listing, the market capitalisation of Sansera Engineering stood at Rs 4,168.54 crore. Upon successful listing, the company joined 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. The 1,283 crore IPO was subscribed 11.47 times, which was opened during September 14-16. Sansera Engineering IPO was entirely an offer for sale (OFS) of 1.72 crore equity shares by the selling shareholders.

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    09:35 (IST)24 Sep 2021
    Tata Steel, HULO, HDFC top Sensex draggers

    Tata Steel, Hindustan Unilever Ltd (HUL), Bajaj Finance,  Housing Development Finance Corporation (HDFC), and M&M were top index laggards

    09:33 (IST)24 Sep 2021
    Infosys, TCS, HDFC Bank top Sensex gainers

    Infosys, HCL Tech, L&T, TCS, Asian Paints, HDFC Bank, Tech Mahindra were top Sensex gainers

    09:25 (IST)24 Sep 2021
    Sensex clinches 60,000, adds 1,000 pts in just 6 days as bulls dominate D-Street

    BSE Sensex hit 60,000 points on Friday with fall in covid cases and rising vaccination, coupled with improvement in economic activity. Sensex took just six trading sessions to add the last 1,000 points to climb to 60,000. In the previous session yesterday, the Sensex logged strong triple-digit returns, hitting an intraday high of 59,957, and closing at 59,885 points – up 958 points.

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    09:20 (IST)24 Sep 2021
    Sensex at 60,000; Nifty at record high, tops 17900

    BSE Sensex claimed 60,000, rising over 300 points, while Nifty 50 index topped 17900 for the first time ever

    08:35 (IST)24 Sep 2021
    Airtel, Voda-Idea, RIL, Dish TV, Yes Bank, BPCL, SBI Cards, Jubilant Foodworks, Adani stocks in focus

    BSE Sensex and Nifty 50 were eyeing a positive opening on Friday, as indicated by trends on SGX Nifty. Nifty futures surged in trade, rising 23 points to 17852 on Singaporean Exchange. In today’s trade, BSE Sensex is likely to hit the crucial 60,000 level. Nifty has formed a strong bullish breakout candle and has consistently maintained higher bottom series formation, which supports further uptrend from current levels.

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    08:10 (IST)24 Sep 2021
    Sansera Engineering IPO shares listing today

    Sansera Engineering shares are set to make Dalal Street debut on 24 September, Friday. The Rs 1,283 crore public issue, which was opened during September 14-16, was subscribed 11.47 times. Upon successful listing, the company will 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.

    08:10 (IST)24 Sep 2021
    US stocks end higher on Wall Street

    In overnight trade on Wall Street, US stocks ended over one per cent higher. The Dow Jones Industrial Average rose 506.5 points, or 1.48%, the S&P 500 gained 53.34 points, or 1.21%, and the Nasdaq Composite added 155.40 points, or 1.04%.

    08:10 (IST)24 Sep 2021
    Asian stock markets trade mixed

    Amid China’s Evergrande crisis, Asian stock markets were seen trading mixed. Japan’s Nikkei jumped 2% while the Topix index gained over 2%. South Korea’s Kospi edged half a per cent higher. 

    08:09 (IST)24 Sep 2021
    F&O expiry: Sensex eyes 60,000 target, Nifty at fresh record closing; Is 18,000 on cards for Nifty?

    On the day of weekly F&O expiry, BSE Sensex and Nifty 50 ended over 1.5% higher, led by buying in index heavyweights such as Reliance Industries Ltd (RIL), Housing Development Finance Corporation (HDFC), and HDFC Bank. BSE Sensex rallied 958 points or 1.63% to end at the highest ever level 59,885, while NSE’s Nifty 50 zoomed 276 points or 1,57% to settle at 17,823. During intraday, the 30-share Sensex hit a record high of 59,957, and Nifty rose to a fresh lifetime high of 17,843.90. 

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    Market LIVE: SGX Nifty hints at cautious start for Sensex, Nifty; Sansera Engineering shares listing today
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