BSE Realty index rose 2 percent supported by the Oberoi Realty, DLF, Indiabulls Real Estate
Sensex zooms 680 points: What factors are driving the markets higher
All sectoral indices trade in the green so are the broader marker indices. Nifty Metal makes the biggest gain followed by indices representing banks and financials
Market at 10 AMBenchmark indices extended the opening gains and trading near the day’s high.The Sensex was up 707.55 points or 1.20% at 59848.78, and the Nifty was up 220.40 points or 1.25% at 17842.70. About 2289 shares have advanced, 666 shares declined, and 88 shares are unchanged.
SAT Industries to consider, decide to sell company’s investment on September 23The meeting of Board of Directors of SAT Industries is scheduled to be held on September 23, 2022, through Video Conferencing, Other Audio Visual Means to consider and decide to sell of company’s investment.
Kotak downgrades Endurance Tech to ‘sell’, lowers target price
Kotak expects Endurance earnings likely to be reduced as its key customer Bajaj Auto’s performance to get impacted amid slowdown in two wheeler export geographies, especially Africa and South Asia
Natco Pharma gets High Court order to launch ChlorantraniliproleNatco Pharma received order from Hon’ble High Court of Delhi stating that NATCO is allowed to launch Chlorantraniliprole (CTPR) and its formulations, through its non-infringing process.
BSE Auto index added 1 percent led by the Tata Motors, TVS Motor, Cummins India
Shilpa Medicare’s Tranexamic Acid Spray gets CDSCO approvalShilpa would like to announce its successful innovation of first in world topical hemostatic spray of Tranexamic Acid has received CDSCO approval.The product is approved for the usage of reducing or preventing hemorrhage and to reduce the need of replacement therapy during accidental and domestic injury.
Nifty Bank index rose 1 percent led by the IndusInd Bank, AU Small Finance Bank, ICICI Bank
Adani Enterprises raises Rs 100 crore via NCDsAdani Enterprises has raised Rs 100 crore by allotment of 1,000 non-convertible debentures of the face value of Rs 10 lakh each on private placement basis. The said MLD will be listed on the Wholesale Debt Market segment of BSE.
Moody’s withdraws Kalyan Jewellers’ B2 ratingMoody’s Investors Service has withdrawn Kalyan Jewellers India Limited’s (KJIL) B2 long-term corporate family rating. The rating outlook prior to withdrawal was stable.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
Since globally markets are focused on Fedspeak on the 21st, major breaks from the present levels are unlikely for 2 days. A big correction after the Fed decision is possible only if the rate hike is by 100bp.
The Indian market continues to show resilience despite global challenges. Major indices like Nifty Bank, autos, FMCG and cement are at record levels with only Nifty IT dragging the benchmark indexes.
The real winners in this volatile market are investors who remained invested without much trading. This strategy may be continued in the near-term. There is value emerging in IT for long-term investors.