Buzzing Stocks: RIL, ICICI Lombard, Dr Reddy’s Labs and other stocks in news today
BSE Realty index jumped 1 percent supported by the Sobha, Oberoi Realty, Brigade Enterprises
VA Tech Wabag bags order worth $11.45 mn:
VA Tech Wabag secured an order worth USD 11.45 Million from Dialog E&C Sdn. Bhd., Malaysia towards establishing a new Effluent
Treatment Plant (ETP) for Pengerang Integrated Complex in Johor, Malaysia, company said in its release.
Va Tech Wabag was quoting at Rs 343.10, up Rs 6.40, or 1.90 percent on the BSE.
Nifty Energy index rose 1 percent led by the Adani Green, Reliance Industries, Gail:
Economic data release schedule for the week. Note USA has a holiday today so commodity markets may see limited action. India specific data is in bold fonts.
Plan your trades accordingly. Have a great week ahead. pic.twitter.com/xUVVxJOwNG— Vijay L Bhambwani (@vijaybhambwani) September 6, 2021
Maruti Suzuki announces price hike for select models
Maruti Suzuki announced a price change for select models owing to increase in various input costs with effect from September 6, 2021.
The weighted average price increase in Ex Showroom Prices (Delhi) across select models is 1.9%.
Maruti Suzuki India was quoting at Rs 6,887.00, up Rs 23.70, or 0.35 percent on the BSE.
Gainers and Losers on the BSE Sensex in the early trade:
Market Opens: Indian indices opened at fresh record high with Nifty crossing 17,400 on September 6.
At 09:16 IST, the Sensex was up 269.92 points or 0.46% at 58399.87, and the Nifty was up 73.70 points or 0.43% at 17397.30. About 1456 shares have advanced, 409 shares declined, and 122 shares are unchanged.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
Some negative economic news is likely to turn out to be positive for markets in the very short-term. The US jobs data – only 2.35 lakh jobs added in August against the expectation of above 7 lakhs – support the Fed’s claim that “there is much more ground to cover” before rates are revised upwards. So, even tapering expected by this year-end is likely to be a ‘taper without tantrum’.
The dollar index hovering around 92.16 is likely to support fresh FII inflows. This, along with sustained DII investment and active retail buying can impart resilience to the market even at high valuations.
Fresh highs are likely driven by the strong uptrend in RIL and renewed buying in banking stocks. The ideal strategy in this bull market is to remain invested with occasional partial profit bookings and moving some profits to fixed income.
Indian markets are likely to open on a positive note tracking mixed global cues as traders are assessing the challenges to reopening underscored by slower US hiring and sinking crude oil prices. US markets ended mixed amid release of weaker than expected jobs data.
Market at pre-open: Benchmark indices are trading higher in the pre-opening session amid mixed global cues.
At 09:02 IST, the Sensex was up 229.28 points or 0.39% at 58,359.23, and the Nifty was up 116.40 points or 0.67% at 17,440.
Petrol, diesel prices today:
Fuel prices were unchanged across metro cities on September 6, a day after rates were cut. In Delhi, petrol currently costs Rs 101.19 per litre, while diesel is priced at Rs 88.62 per litre.
In Mumbai, the petrol rate is Rs 107.26 per litre and the diesel rate is Rs 96.19 per litre, according to Indian Oil Corporation (IOCL).
Fuel prices remain the same in Chennai, too, where petrol costs Rs 98.96 per litre, and the diesel rate is Rs 93.26 per litre.