Buzzing Stocks: Sansera Engineering, Alankit, Dish TV, and other stocks in news today
Gainers and losers on the BSE Sensex:
Market Opens: Indian indices opened on positive note on September 24 with Sensex crossing 60,000 for the first time and Nifty hitting fresh record high.
The Sensex was up 325.71 points or 0.54% at 60211.07, and the Nifty was up 93.30 points or 0.52% at 17916.30. About 1293 shares have advanced, 355 shares declined, and 89 shares are unchanged.
Tata Motors, ONGC, Infosys, Wipro and L&T were among major gainers on the Nifty.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
Sensex @60000 is a possibility today. Reaching this milestone would be quite an achievement in these Covid times and a shot in the arm for bulls who are in total control of this market.
The outperformance of India during September so far is stunning with MSCI World Index down 2.13% and Nifty up by 4.03%. The poor performance of the Shanghai Composite due to regulatory crackdown and the China Plus One policy have again made India an attractive investment destination for FIIs.
But the market exuberance has pushed valuations to very high levels. India’s valuation premium to EM peers is above 80% now. This is difficult to sustain.
Investors may think of reducing portfolio risk by moving to the safety of high quality large-caps. Partial profit booking in the mid and small-cap segment and moving some money to fixed income also may be considered.
Indian markets are likely to open on a flat to positive note on the back of investors predicting the Delta-virus strain will be a temporary setback to the economic recovery. US markets ended sharply higher amid Federal Reserve’s latest monetary policy announcements.
Market at pre-open: Benchmark indices are trading firm in the pre-opening session.
At 09:01 IST, the Sensex was up 246.34 points or 0.41% at 60,131.70, and the Nifty was up 93.70 points or 0.53% at 17,916.70.
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If Nifty manages to breach 17,812, we might see it move higher towards 18,011 (1.38 percent extension level of the rise from 14,151-15,915, projected from 15,513), said Karan Pai of GEPL Capital
China Evergrande bondholders in limbo over debt resolution
China Evergrande slipped toward a kind of limbo on Friday as time ticked away on an interest payment deadline which global markets are watching for signs of default, leaving investors on tenterhooks over the embattled property giant’s fate.
The company has run short of cash to fund its $305 billion in debts and markets are worried that a collapse could pose systemic risks to China’s financial system and reverberate around the world.
FII and DII data
Foreign institutional investors (FIIs) net acquired shares worth Rs 357.93 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,173.09 crore in the Indian equity market on September 23, as per provisional data available on the NSE.
Oil prices rise, hit 2-month highs on supply worries
Oil prices rose on Thursday, with Brent crude touching its highest level in more than two months, supported by growing fuel demand and a draw in U.S. crude inventories as production remained hampered in the Gulf of Mexico after two hurricanes.
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Japan CPI halts 12-month decline:
Japan’s core consumer prices halted a 12-month run of declines in August, bolstered by higher energy costs and the impact of a tourism campaign, bringing some relief to central bank efforts to push inflation towards its elusive 2% target.