Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading volatile on Monday. BSE Sensex was hovering around 60,000, while Nifty 50 gave up 17,850. M&M, Maruti Suzuki, State Bank of India (SBI), HDFC Bank, Bajaj-Auto, ICICI Bank, Axis Bank were top Sensex gainers. Nestle India, Asian Paints, HCL Tech, Tech Mahindra, Dr. Reddy’s, Tata Steel were among top BSE Sensex losers. On the sectoral front, Nifty Bank, Nifty Auto, Nifty PSU Bank, Nifty Realty indices gained over 1 per cent. While Nifty Pharma was top loser.
Union Finance minister Nirmala Sitharaman said India needs at least 4-5 more large banks like State Bank of India (SBI) to support the growing credit appetite of a fast-recuperating economy in the post-Covid world. Sitharaman on Sunday, while addressing the 74th annual general meeting of the Indian Banks’ Association (IBA) in Mumbai, said the economy is on a reset mode after the devastation caused by the pandemic.
Nifty Realty index was up 2.97% on Monday afternoon. Phoenix Mills was the top gainer, up more than 6%, followed by DLF, Godrej Properties, and Oberoi Realty.
Paras Defence and Space Technologies IPO share allotment will be finalised on Tuesday, 28 September 2021. The public issue saw a whooping 304.26 times subscription, the highest in a decade. In the primary market, Paras Defence shares were quoting at a premium of Rs 235 over the IPO price of Rs 175 at the upper end of the price band. In the grey market on Monday, shares were trading at Rs 410 apiece, a premium of 134 per cent over the issue price, according to the people who deal in unlisted shares of the companies. The initiation of refunds or unblocking of funds from ASBA accounts will take place on 29 September 2021. While the equity shares will be credited to depository accounts on 30 September 2021.
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Big bull Rakesh Jhunjhunwala has made Rs 170 crore from his shareholding in auto major Tata Motors, so far this month. Tata Motor’s share price has rallied more than 14% since the end of August to now trade at Rs 332 apiece, up from Rs 287 per share on August 31. Tata Motor’s stock has outperformed the benchmark Nifty Auto, which jumped 5.5% during the same period. Analysts remain bullish on Tata Motors despite its recent outperformance and believe the stock could rise even further, augmenting Rakesh Jhunjhunwala’s profits in the company.
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Considering the TTM adjusted EPS of Rs.20.27 on the post-issue basis, the company is going to list at a P/E of 35.13 with a market cap of Rs.2,05,056 mn while its peers namely HDFC AMC and Nippon Life are trading at a P/E of 49.99 and 38.61 respectively. We assign the “Subscribe” rating to this IPO as the company is the largest non-bank affiliated asset manager in India with diverse product portfolio and geographically diversified pan-India distribution presence. Also, the company is available at a reasonable valuation as compared to its peers. Marwadi Shares and Finance
Enquiries for investing in Freshworks were seen even before the listing by Indian investors but unfortunately they are not allowed to directly investing in IPOs of US markets. Since it got listed, over the last 3 days, it’s been the No.1 stock on Vested Finance’s platform and 0.4% of Vested Finance users today hold FRSH in comparison 1.2% have invested in Coinbase and 6.5% have invested in Microsoft. More than INR 2 crore has been invested in Freshworks since it got listed on our platform. We witnessed a 50% spike in daily new account opening on our platform over the last few days due to the Freshworks excitement. Viram Shah, Co-Founder & CEO, Vested Finance
Banks in India will remain closed for up to 21 days in October 2021, including second and fourth Saturdays, and Sundays. Apart from weekly offs, banks will remain shut in different states on account of different holidays. Banks will not be closed for all 21 days for all states as these are state-specific holidays for different occasions. On October 2, banks across the country will remain shut as it will be a gazetted holiday. The Reserve Bank of India has categorised holidays under three categories — Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday; and Banks’ Closing of Accounts. The list of holidays given below has been notified by RBI.
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Nifty 50 and BSE Sensex have scaled fresh all-time highs and are not looking to slow down. Sensex is now above 60,000 points while the Nifty 50 is closer to 18,000 than ever before. Amid this upward trend, the broader markets have participated with both smallcap and midcap indices mirroring the moves. Bank Nifty too has reached new record highs. As the indices zoom ahead analysts at ICICI Direct have picked two stocks that they believe have strong technical uptrend patterns along with robust fundamentals warranting an upside potential between 10-12%.
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The Nifty is sitting at a resistance zone of 17900-17950. If we can close above this patch, the next level should be 18050. The updated support for the week is at 17700. Since the risk is to reward is skewed in favor of risk, I would recommend a “buy on dips” approach where the reward becomes a lot more favorable. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
We expect Nifty to head towards our target of 18200 in a non-linear manner, therefore advise to follow buy on dips strategy as we don’t expect Nifty to breach strong support of 17400 levels. On sectoral front, BFSI, Consumption, IT & Telecom to outperform while Auto space offer favourable risk-reward setup.
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On the sectoral front, Nifty Bank, Nifty Auto, Nifty PSU Bank, Nifty Realty indices gained over 1 per cent. While Nifty Pharma was top loser.
Nestle India, Asian Paints, HCL Tech, Tech Mahindra, Dr. Reddy’s, Tata Steel were among top BSE Sensex losers
M&M, Maruti Suzuki, State Bank of India (SBI), HDFC Bank, Bajaj-Auto, ICICI Bank, Axis Bank were top Sensex gainers
BSE Sensex surged 200 points or 0.34 per cent to 60,310, while Nifty 50 index crossed 17,900, rising 58 points
BSE Sensex surged 261 points or 0.44 per cent to fresh record high of 60,310, while Nifty 50 index claimed 18,000, rising 150 points
Commodity prices traded mixed with bullion prices witnessed selling for the week capping upside on higher bond yields. Crude oil prices continued upside on supply crunch with output disruptions and higher demand. Base metals traded firm supported by lower supply while capping gains on China property giant Evergrande’s debt crisis.
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Nifty futures surged over 100 points or 0.57 per cent in early trade on the first day of the week, suggesting a positive start for BSE Sensex and Nifty. In the absence of any major domestic trigger, Indian stock markets would continue to take cues from global markets. Analysts say domestic sentiments remain buoyant as economic recovery is faster than expected and is well reflected in improving macro-data points.
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At the beginning of the previous week, the benchmark index griped in volatility and we witnessed a tug of war between bulls and bears in the initial days of the trading week. However, Nifty 50 traded within the rising channel pattern and took strong support near the lower band of the channel pattern and witnessed a sharp rally and registered its new lifetime high levels of 17947.65 on September 24.
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Finance minister Nirmala Sitharaman said on Sunday India requires at least 4-5 more large banks like State Bank of India (SBI) to support the growing credit appetite of a fast-recuperating economy in the post-Covid world. Addressing the 74th annual general meeting of the Indian Banks’ Association (IBA) in Mumbai, the minister said the economy is on a reset mode after the devastation caused by the pandemic. Banks, being the backbone of the financial system, would have to continue to play a critical role in supporting the economy’s resurgence, the minister said. Non-food credit growth remained far from satisfaction and stood at 6.2% in July 2021, against 6.4% a year earlier.
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In overnight trade on Friday, the Dow Jones and S&P 500 ended higher. The Dow Jones Industrial Average rose 33.18 points, the S&P 500 gained 6.5 points, while the Nasdaq Composite dropped 4.55 points.
Asian stock markets were trading in green in early trade on Monday, as investors sought clarity on China’s Evergrande crisis, with Japan stock markets leading the gains. Japan’s Nikkei 225 jumped over 2%, the Topix index gained 2.31%, while South Korea’s Kospi settled lower.
Domestic equity benchmarks S&P BSE Sensex and NSE Nifty 50 enter this week’s first trading session sitting near all-time highs as bulls regained control on Dalal Street last week. S&P BSE Sensex is currently at 60,048 while the NSE Nifty 50 is sitting at 17,853, both having gained nearly 2% last week. The positive momentum may continue with SGX Nifty surging over 90 points higher, hinting at a positive start for domestic equities. Global cues were positive at the start of the week. “Nifty on the weekly chart formed a long bull candle, which has overlapped previous bull candle. This signal that the uptrend as per medium term is intact and any minor weakness of short term is unlikely to have any sharp negative impact on uptrend of the market,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
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