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Share Market LIVE: Sensex ends flat, falls 236 pts from day’s high, Nifty above 17350; IndusInd Bank gains 4% – The Financial Express

he top sectoral performer was Nifty Media, which rallied up to 14.4 per cent.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in the positive territory on Tuesday, led by gains in select IT and banking stocks. BSE Sensex ended 69 points or 0.12 per cent up at 58,247, while the Nifty50 index shut shop at 17,380, up 25 points or 0.14 per cent. IndusInd bank was the top index performer, rising over 4 per cent. It was followed by HCL Technologies, Bajaj-Auto, Larsen & Toubro (L&T), Kotak Mahindra Bank, Tech Mahindra, among others. On the flip side, Nestle India, UltraTech Cement, Hindustan Unilever Ltd (HUL), Housing Development Finance Corporation (HDFC), Tata Steel, Bajaj Finserv, Infosys were among the top BSE Sensex draggers. The trend on the sectoral front was largely positive. Bank Nifty gained 0.39 per cent, Nifty Auto 0.88 per cent, Nifty Private Bank 1.03 per cent. The top sectoral performer was Nifty Media, which rallied up to 14.4 per cent.

Freshworks, a software as a service startup (SaaS) based out of Silicon Valley, is looking to raise $912 million from its initial public offering (IPO) on Wall Street. Started in Chennai, Freshworks moved to the United States to be closer to its customers, but still maintains a strong presence in Southern India. The company will be offering to sell 28.5 million Class A common stock at the fixed price range of $28 and $32 per share. Upon successful completion of the IPO, the company list on the NASDAQ under the symbol FRSH.

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BSE Sensex ended 69 points or 0.12 per cent up at 58,247, while the Nifty50 index shut shop at 17,380, up 25 points or 0.14 per cent

Saving today for a ‘rainy day’ tomorrow is ingrained in Indian psyche-unlike the west where consumption is the dominant theme. Indians save for their children’s education, for weddings, for a secured retirement and even for a decent roof over their heads. What is true for individuals holds good for national governments and the corporate sector. For emerging economies, growth is strongly correlated with aggregate savings as it funds public and private capex. A decline in savings is a grave concern that has been engaging the Indian policy maker’s attention since the past decade.

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In an effort to maximise the value of a company undergoing insolvency proceedings, the bankruptcy court has allowed for liquidation of the company as a going concern. This amendment tries to stitch all the assets of the company as a whole, in a last-mile attempt to save the business as a whole. Explaining how the newly introduced liquidation process works, Nitin Jain, Senior Partner at AAA Insolvency Professionals LLP, said that the main objective is to maximise value for creditors. Nitin Jain is the official liquidator for PSL Group — recently liquidated as a going concern.

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Nazara Technologies share price hit a fresh record high of Rs 2087.35, rising 8.5 per cent on BSE intraday. In the previous session too, this Rakesh Jhunjhunwala-owned stock rallied 7.6 per cent. This information technology (IT) software products company stock surpassed its previous high of Rs 2,026.90 touched on listing day, 30 March 2021. In the past one month Nazara Technologies has outperformed BSE Sensex, rallying 20.34 per cent. BSE Sensex gained just 5 per cent during the same period. Analysts say a strong small-cap rally coupled with strong growth projections for the mobile gaming market in India with competition only from unlisted players has led to a bullish trend in Nazara Technologies.

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IndusInd Bank, HCL Tech, Kotak Mahindra Bank, Bajaj Auto, TCS, Tech Mahindra were among top BSE Sensex gainers at this hour

Zomato co-founder Gaurav Gupta has resigned from the company weeks after the successful stock market debut of the company. Gaurav Gupta, who joined the food delivery behemoth six years ago, was designated as the co-founder of the company in 2019. He was heading the supply function at Zomato. “I am taking a new turn in my life and will be starting a new chapter, taking a lot from this defining chapter of my life — the last 6 years at Zomato,” Gaurav Gupta wrote in an email sent to Zomato colleagues. 

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Sansera Engineering’s Rs 1,283-crore IPO (initial public offering) has opened for subscription and will close on 16 September 2021. So far on the first day of bidding, Sansera Engineering IPO has been subscribed 20 per cent. In the primary market, Sansera Engineering shares were seen commanding a premium of Rs 35 over the IPO price of Rs 744, the upper end of the price band. On Tuesday, shares were trading at Rs 779 apiece, a premium of nearly 5 per cent in the grey market, according to the people who deal in unlisted shares of the companies.

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“The moderation in CPI has been supported by the low base of last year. CPI remaining below 6% for last two months, will be comforting for RBI and will enable the Central Bank to keep interest rates low given the growth concerns. In fact, for the next few months, the CPI is likely to remain within RBI’s comfort zone supported by the high base of last year. Nevertheless, RBI will be cautious, as with growth picking up globally there is threat of demand side pressure on inflation gathering steam,” said Rajani Sinha, Chief Economist and National Director – Research at Knight Frank India.

Zomato share price fell to day’s low after Moneycontrol cited sources as saying that Gaurav Gupta, one of the top executives of food tech platform Zomato has decided to leave the company. 

Vijay Diagnostic Centre IPO debut at premium of 8% to its upper band of the IPO price. Company is trading at price to earning of 67 times and EV/EBITDA OF 32 times based on FY2021 numbers which is on higher side as compared to its peers. Looking at higher valuations and limited growth potential in its key geographic we have a neutral outlook on Vijaya Diagnostics centre. Yash Gupta, Equity Research Analyst, Angel Broking 

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading weak in India on Tuesday, mirroring international trends on a stronger dollar. On Multi Commodity Exchange, gold October futures were trading Rs 34 down at Rs 46,874 per 10 gram, as against the previous close of Rs 46,908. Silver December futures were ruling at Rs 63,130 per kg, down Rs 169. It closed at Rs 63,299 in the previous session. Globally, yellow metal prices edged lower as a stronger dollar crimped bullion’s appeal ahead of US inflation data that could offer cues on the possible timeline for the Federal Reserve’s tapering. Spot gold fell 0.2 per cent to $1,790.74 per ounce. US gold futures eased 0.1 per cent to $1,792.10.

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We are inching to get past the 14450 levels this morning. The Nifty has opened with a gap and if this sustains, we will climb higher to 17550 and 17750 as the next target levels. 17250 is a strong base for the markets and any dip or intra day correction can be utilized to buy for higher targets. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

Vijaya Diagnostic Centre listed on the stock exchanges today flat with a marginal premium to the IPO price amid positive market momentum. Shares of Vijaya Diagnostic began trading at Rs 542.3 per share, up Rs 11.3 or 2.13% from the upper end of IPO price of Rs 531 per share. The IPO of the South India based diagnostic chain was subscribed 4.58 times earlier this month as it raised Rs 1,895 crore from investors. The IPO was entirely an offer for sale (OFS) by existing shareholders of the company. 

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Ami Organics shares made a strong debut on BSE and NSE on Tuesday, 14 September 2021, listing at a 49.18% premium to the IPO price. Ami Organics shares got listed at Rs 910 vs the IPO of Rs 610 apiece on NSE. The initial public offering of Ami Organics was subscribed 64.54 times. On the listing, the market capitalisation of the company stood at Rs 3,286.62 crore. Post listing, Ami Organics has joined the listed industry peers such as Aarti Industries, Hikal, Valiant Organics, Vinati Organics, Neuland Organics and Atul Ltd.

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All the Nifty sectoral indices were trading in the positive territory. Bank Nifty was up over half a per cent to 36,718. Nifty Media was top gainer, rallying over 6 per cent.

UltraTech Cement, Power Grid Corporation of India, Infosys and Bharti Airtel were among top index losers

HCL Tech, Axis Bank, Dr Reddy’s. IndusInd Bank, Nestle India, ICICI Bank, Sun Pharma, RIL were among top Sensex gainers

BSE Sensex surged 185 points or 0.32 per cent to 58,363, while the Nifty 50 index gained 57 points to trade at 17412

BSE Sensex surges 300 points to new high of 58700, while the Nifty 50 index crosses 17550 for the first time ever in pre-opening session

Nifty is expected to open positive at 17405, up by 40 points since yesterday’s close. Since the last few trading sessions, Nifty has been taking strong support in the 17250-17300 range and has been facing resistance in the 17420-17450 range. A close above 17450 with higher than average volumes may take Nifty to 17550. Traders in long positions should consider booking profits if Nifty closes below 17250. Gaurav Udani, CEO & Founder, ThincRedBlu Securities

Nifty futures were trading 28.50 points or 0.16 per cent up at 17,403.50 on Sinagpoarean Exchange, suggesting a gap-up opening for BSE Sensex and Nifty 50 on Tuesday. Investors will eye Ami Organics and Vijaya Diagnostic Centre listings today, along with the new IPO — Sansera Engineering — that opens today. Also, Retail inflation based on Consumer Price Index (Combined) eased to a three-month low of 5.59 per cent in July, while Industrial output rose by 13.6 per cent in June.

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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of petrol and diesel were left unchanged for the ninth consecutive day on Tuesday by oil marketing companies. Petrol in the national capital today costs Rs 101.19 per litre, while diesel in the capital city is retailing at Rs 88.62 per litre. The previous cut in Petrol and diesel prices came on September 5 when prices were reduced by 15 paise. So far this month, prices have been decreased twice, trimming the rate by 30 paise. 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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Nifty 50 has managed to sustain above 17,300 for the last few trading session. “Over the last four days, Nifty has been hovering between 17,250 to 17,435 levels. At the same time, the Nifty is consistently taking support at 17,250. As long as the index is trading above 17,250, the bullish formation is likely to continue up to 17,450 -17,500 levels. However, trading below the same could possibly trigger correction up to 17,200-17,150 levels,” said Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities Ltd.

Auto component maker Sansera Engineering’s Rs 1,283-crore IPO will open for subscription today. The company has mopped up Rs 382 crore from anchor investors ahead of its IPO.

Two new companies — Ami Organics and Vijaya Diagnostic Centre are scheduled to make their stock market debut on Tuesday, 14 September 2021. The Rs 570-crore Ami Organics IPO was subscribed by 64.54 times and the Rs 1,895-crore IPO of Vijaya Diagnostic received 4.54 times subscription.

In overnight trade on Wall Street, US stocks ended mostly higher. The S&P500 rose 10.15 points to 4,468.73. The Dow Jones Industrial Average rose 261.91 points to 34,869.63, while the Nasdaq slipped 9.91 points to 15,105.58.

Asian stock markets were trading mixed on Tuesday, with Japan’s Nikkei 225 rising nearly one per cent, while the Topix index advanced 0.66 per cent. South Korea’s Kospi gained 0.83 per cent.

Dalal Street kickstarted the week with S&P BSE Sensex and NSE Nifty both ending with losses while broader markets surged higher. Sensex closed yesterday’s session at 58,177 points or 0.22% lower while Nifty 50 ended at 17355 or 0.08% lower. Bank Nifty ended the session 0.58% down. Midcap and smallcap indices on both BSE and NSE closed with gains. Entering Tuesday’s trading session, SGX Nifty was up in the green, hinting at positive momentum build-up ahead of the day’s trade. Global cues were mixed on Tuesday morning after Wall Street equity indices closed in either direction.

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