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September 23, 2020 / 03:49 PM IST

Closing Bell: Sensex, Nifty end lower amid volatility; Bharti Airtel sheds 8%

Among sectors, selling seen in the PSU Bank, infra, IT, metal and pharma, while BSE Midcap and Smallcap indices ended marginally lower.

  • IndexPricesChangeChange%
    Sensex52,323.33-178.65 -0.34%
    Nifty 5015,691.40-76.15 -0.48%
    Nifty Bank34,605.40-398.10 -1.14%
    Nifty 50 15,691.40 -76.15 (-0.48%)
    Thu, Jun 17, 2021
    Biggest GainerPricesChangeChange%
    UltraTechCement6,704.85117.45 +1.78%
    Biggest LoserPricesChangeChange%
    Adani Ports646.90-59.80 -8.46%
    Best SectorPricesChangeChange%
    Nifty IT28611.35162.50 +0.57%
    Worst SectorPricesChangeChange%
    Nifty Metal5095.10-121.10 -2.32%


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  • September 23, 2020 / 04:22 PM IST

    S Hariharan, Head - Sales Trading, Emkay Global Financial Services:  
     
    India has under-performed EM & Asian peer set over the last week, with significant unwinding by Retail participants in futures segment acting as offset to institutional buy flows. Domestic institutions have turned buyers on net after a gap of 2 months. Bank Nifty continued its downward momentum after confirming a failed breakout last week – however, it is currently around an important support level at 21200, and can outperform broader indices going ahead. 

    Our empirical analysis of weekly RSI levels in IT & Pharma indices points to a period of flat to negative performance over the coming 3 months, while rotation into FMCG stocks appears to be emerging as the index is near its 200-DMA.’

  • September 23, 2020 / 04:19 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    The benchmark indices swung both ways before ending on a flat note. In line with the upbeat global market, the start was positive but the bias turned bearish as the session progressed and the index surrendered all the gains in no time. However, recovery in the final hours trimmed the losses significantly and helped the benchmark to close almost unchanged. Meanwhile, a mixed trend on the sectoral front kept the participants guessing while the broader indices remained under pressure.

    We expect volatility to remain high on Thursday as well, thanks to the scheduled derivatives expiry of September month contracts. Indications are in the favour of some respite but sustainability would be key. In the present scenario, we feel it’s more prudent to focus on the accumulation of quality stocks on dips.

  • September 23, 2020 / 03:46 PM IST

    Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities:

    Nifty has broken a critical support level of 11,175. It is now expected to witness volatile moves in a small range before a positive setup matures. On the downside support is seen at 10750-10800 – these are long term support levels for the index. Value buying is suggested for long term investors while traders are expected to keep leveraged positions under check on account of the expected volatility.

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  • September 23, 2020 / 03:45 PM IST

    Sensex, Nifty ends lower amid volatility

  • September 23, 2020 / 03:36 PM IST

    Market Close: Benchmark indices ended lower for the fifth consecutive session on September 23 amid high volatility with Nifty below 11,150.

    At close, the Sensex was down 65.66 points or 0.17% at 37,668.42, and the Nifty was down 21.80 points or 0.20% at 11,131.90. About 1213 shares have advanced, 1382 shares declined, and 155 shares are unchanged.

    Axis Bank, GAIL, Coal India, HUL and Infosys were among major gainers on the Nifty, while losers were Bharti Airtel, Bharti Infratel, Tata Steel, NTPC and IndusInd Bank.

    Among sectors, selling seen in the PSU Bank, infra, IT, metal and pharma, while BSE Midcap and Smallcap indices ended marginally lower.

  • September 23, 2020 / 03:27 PM IST

    Jaikishan Parmar, Sr. Equity Research Analyst, Angel Broking:

    After a long wait finally, UTI AMC announces IPO. The IPO will open for subscription on 29 September. This IPO purely offers for sale and the no of shares offered is 3,89,87,081. The State Bank of India, Life Insurance Corporation of India (LIC), Punjab National Bank, Bank of Baroda, and T Rowe Price International are selling shares through this IPO. 

    We believe UTI AMC will garner strong interest from an investor, as AMC business is high RoE and cash-generating business. Listed AMC HDFC trades at 12.8% and Nippon AMC 9% of June AUM. Now final demand for UTI AMC would depend on at what valuation IPO demands. A valuation less than listed peers would create more demand for UTI AMC.

  • September 23, 2020 / 03:21 PM IST

    Nifty Pharma Index shed 1 percent dragged by the Torrent Pharma, Divis Lab, Cadila Healthcare:

      Nifty Pharma Index shed 1 percent dragged by the Torrent Pharma, Divis Lab, Cadila Healthcare:
  • September 23, 2020 / 03:14 PM IST

    Tech Mahindra US arm sells stake in Altiostar Network:

    Tech Mahindra (Americas) Inc., a l00% subsidiary of Tech Mahindra divested its holding of 18,518,518 C1 Preferred shares in Altiostar Networks, lne. to Rakuten USA, Inc.

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  • September 23, 2020 / 03:08 PM IST

    Amarjeet Maurya - AVP - Mid Caps, Angel Broking:

    Britannia Industries (BIL) has brands like Tiger, Good-Day, 50:50 under its fold with an estimated market share of 33% in the Indian biscuits industry. Biscuits contribute more than 80% of the company’s turnover. 

    BIL continued to gain market share ahead of competition and has narrowed its gap with the No. 1 player in the category. BIL has gained market share in new categories like Wafers and Milk Shakes. 

    BIL has an overall distribution reach of 5.5 million outlets coupled with Strong brand. Hence, we are positive on stock.

  • September 23, 2020 / 03:00 PM IST

    Hester acquires technology from ICAR - IVRI:

    Hester has signed the agreement towards receiving the indigenously developed technology from ICAR-IVRI (Indian Council of Agriculture Research – Indian Veterinary Research Institute), for developing the Brucella Abortus S19 Delta Per vaccine.

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