| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 84,818.13 | 426.86 | +0.51% |
| Nifty 50 | 25,898.55 | 140.55 | +0.55% |
| Nifty Bank | 59,209.85 | 249.45 | +0.42% |
| Biggest Gainer | Prices | Change | Change% |
|---|---|---|---|
| Eternal | 290.95 | 7.70 | +2.72% |
| Biggest Loser | Prices | Change | Change% |
|---|---|---|---|
| Asian Paints | 2,779.40 | -25.10 | -0.89% |
| Best Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty Auto | 27661.00 | 302.70 | +1.11% |
| Worst Sector | Prices | Change | Change% |
|---|---|---|---|
| Nifty FMCG | 54619.70 | 113.70 | +0.21% |
Nifty ended at fresh closing high at 17,519.45 with gains of nearly one percent and formed a bullish candle on the daily chart.
It seems the index has given a bullish flag breakout on the daily chart which is considered to be a bullish continuation pattern by nature so one can expect more upside if 17,400-17,300 levels are held which are immediate and good support zone on the downside.
On the higher side, the immediate hurdle is at 15,600-15,700. Any dip near the mentioned support zone can be again a fresh buying opportunity.
Headline indices the Sensex and the Nifty ended at record closing highs on September 15, supported by across-the-board buying as risk appetite of investors improved after the US inflation numbers soothed concerns over inflation.
Sensex closed at 58,723.20, up 476 points, or 0.82 percent while Nifty closed the day at 17,519.45, up 139 points, or 0.80 percent.
BSE Midcap and smallcap indices closed 0.65 percent and 0.86 percent higher, respectively.
BSE Telecom index jumped 3.45 percent while the BSE Utilities clocked a gain of 2.29 percent. BSE Power (up 2.01 percent), teck (up 1.81 percent), IT (up 1.71 percent) and consumer durables (up 1.62 percent) rose up to 2 percent.
On the NSE, the PSU bank index jumped 2.83 percent but the media index fell 1.55 percent owing to profit-booking a day after clocking strong gains.
Nearly 400 stocks, including Zensar Technologies, Reliance Power, Jain Irrigation Systems, Varroc Engineering, Lokesh Machines, California Software, MRO-TEK Realty, Patspin India and Lancer Container Lines, hit their upper circuits in intraday trade on BSE.
The market witnessed some positive movements as Nifty was able to breach 17,500. If it sustains above 17,500, it may gain momentum, leading to an upside projection till the 17,850 level. Momentum indicators like RSI and MACD may stay positive and market breadth may improve, further strengthening the short-term bullish outlook.
More than 250 stocks, including TCS, Tech Mahindra, Titan, Bharti Airtel, HCL Tech, Larsen & Toubro, Larsen & Toubro Infotech, L&T Technology Services, NTPC, Adani Transmission, Cyient, Hindalco Industries, Dr. Lal PathLabs, InterGlobe Aviation and Mindtree, hit their fresh 52-week highs in intraday trade on BSE.
Lupin announced the launch of the authorized generic version of Duexise (ibuprofen and famotidine) Tablets, 800 mg/26.6 mg, of Horizon Medicines LLC. Ibuprofen and Famotidine Tablets, 800 mg/26.6 mg, are indicated for the relief of signs and symptoms of rheumatoid arthritis, osteoarthritis and to decrease the risk of developing upper gastrointestinal ulcers, which in the clinical trials was defined as a gastric and/or duodenal ulcer in patients who are taking ibuprofen for those indications. The stock was trading at Rs 993.50, up Rs 11.60, or 1.18 percent. It has touched an intraday high of Rs 995.00 and an intraday low of Rs 983.40.
: A corporate battle cannot be ruled out at Zee Entertainment, which is trying to fend off a move by its single-largest investor, Invesco Oppenheimer, to oust MD & CEO Punit Goenka from the board of a company promoted by his family entity, Essel Group.
Sources tell Moneycontrol that there is a two-pronged strategy at play in Essel Group, involving a white knight and vote gathering. The group is said to be scouting for support from all corners, and investors new and old. The current state of disarray also makes the company vulnerable to a hostile takeover attempt.
Sources tell Moneycontrol that Punit Goenka is in talks with several investors to back him as a white knight in the battle with Invesco. In such a case, the new investor can call for a voluntary open offer for existing shareholders.
Dr Reddy's Laboratories has received the approval from drugs regulator to conduct Phase 3 trials of single-dose COVID-19 vaccine Sputnik Light.
The subject expert committee (SEC) of the Central Drugs Standard Control Organisation (CDSO) had in August recommended the Drugs Controller General of India (DCGI) to grant approval to conduct bridging studies in India for Sputnik Light, reported Hindustan Times. The stock was trading at Rs 4,974.80, up Rs 44.20, or 0.90 percent. It has touched an intraday high of Rs 4,974.90 and an intraday low of Rs 4,920.
: Crude oil prices traded higher with benchmark NYMEX WTI crude oil prices were trading 0.97% up to $71.14 per barrel for the day. MCX Crude oil September futures were trading 1.22% higher near Rs 5,241 per barrel by noon.
Crude oil prices are expected to trade sideways to up for the day with resistance at $72 and support at $69.80 per barrel. MCX Crude oil September has support at Rs 5,150 and resistance at Rs 5,320.
