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Closing Bell: Sensex up 260 pts, Nifty above 26,000 led by media, power, realty
Market Close | Nifty closes above 26,000 for the first time
The record run continued on Dalal street on September 25 as the Nifty index managed to close above 26,000 for the first time led by energy, metal and media names. At close, the Sensex was up 255.83 points or 0.30 percent at 85,169.87, and the Nifty was up 63.80 points or 0.25 percent at 26,004.20.
We wrap up today's edition of the Moneycontrol live market blog, and will be back tomorrow morning with all the latest updates and alerts. Please visit https://www.moneycontrol.com/markets/global-indices for all the global market action.
Ajit Mishra – SVP, Research, Religare Broking
Markets experienced a volatile session but managed to extend their upward trend, with a sharp rally in the last half hour pushing Nifty to close near the day's high at 26,004.15. Throughout most of the day, the tone was subdued, while sectoral performance was mixed. Energy and realty sectors posted gains, whereas IT and FMCG lagged. Profit-taking in midcap and smallcap stocks put pressure on market breadth.
We maintain our bullish outlook amid ongoing consolidation and recommend focusing on stock selection aligned with sectoral trends. Besides rate-sensitive sectors, we observe strong momentum in metal and power stocks, while the current correction in IT presents a buying opportunity. Traders should plan their positions accordingly.
Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
Nifty opened mild in the red and consolidated with a positive bias during the day to close with gains of ~64 points. On the daily charts, we can observe that the Nifty dipped towards 25850 – 25875 support zone and resumed its upmove. The hourly moving averages absorbed the selling pressure and restricted further slide. The Nifty is likely to continue its upmove towards 26300 which is the weekly upper Bollinger band. The support zone is placed at 25850 - 25800.
Bank Nifty also consolidated with a positive bias and witnessed subdued price action on account of monthly expiry. The consolidation is likely to break out on the upside and we expect the bank Nifty to rally towards 55000 from short term perspective. There can be some consolidation, however the uptrend is intact. Crucial support is placed at 53800 – 53600.
Rupak De, Senior Technical Analyst, LKP Securities
The Nifty made another lifetime high as bulls seemed in no mood to back down, despite a weak start. The sentiment is likely to remain positive as long as it remains above 25,900, where aggressive put writing was visible.
Technically, the Nifty has sustained above its very short-term moving average. Furthermore, no reversal is visible in the momentum indicator. Therefore, we might witness a range-bound to positive move in the near term. Resistance on the higher end, is seen at 26200-26250.
Prashanth Tapse, Senior VP (Research), Mehta Equities
Markets were extremely range-bound for most of the trades, but winding up of short positions ahead of tomorrow's monthly expiry triggered a small rally towards the end which saw both benchmark indices, Sensex & Nifty, closing above their psychological levels of 85000 and 26000 respectively. However, broader market weakness due to profit-taking could be a signal that the current rally may face intermittent hurdles due to global uncertainty and rising Middle East conflict.
Aditya Gaggar Director of Progressive Shares
For major part of the session, the Index remained rangebound but a sudden spurt in the last hour of the trading session propelled the Index to end the session at 26,004.15 with gains of 63.75 points. On the sectoral front, Media was the top performer followed by Energy and Realty while PSU Banking and IT were the major laggards. Mid and Smallcaps corrected by 0.63% & 0.42% and underperformed the Frontline Index.
As indicated yesterday, the Index has virtually tested its immediate support of 25,850 and reversed to form a bullish candle on the daily chart suggesting a trend continuation to rally till 26,200 while the support level is shifted higher to 25,950.
Currency Check | Rupee ends higher
Indian rupee ended 7 paise higher at 83.60 per dollar on Wednesday versus Tuesday's close of 83.67.
Market Close | Sensex up 256 pts, Nifty above 26,000 led by media, power, realty
In the volatile session the Indian equity indices ended on strong note on September 25 with Nifty above 26,000 for the first time.
At close, the Sensex was up 255.83 points or 0.30 percent at 85,169.87, and the Nifty was up 63.80 points or 0.25 percent at 26,004.20. About 1637 shares advanced, 2148 shares declined, and 104 shares unchanged.
Power Grid Corp, NTPC, Axis Bank, Grasim Industries, Bajaj Finserv were among the top gainers on the Nifty, while losers are LTIMindtree, Tech Mahindra, Tata Consumer, Tata Motors and Titan Company.
BSE Midcap and Smallcap indices down 0.5 percent each.
On the sectoral front, power, metal, media and realty indices up 0.5-3 percent, while FMCG, PSU Bank and IT down 0.5-1 percent.
PB Fintech extend losses on third day
Stock Market LIVE Updates | NOCIL up 4.5%, up most in 7 weeks
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Power Grid Corp | 364.00 | 3.99 | 39.81m |
| NTPC | 436.50 | 1.96 | 18.32m |
| GAIL | 225.86 | 1.43 | 14.38m |
| Reliance | 2,989.60 | 0.36 | 3.27m |
| BPCL | 339.95 | 0.24 | 5.83m |
| HINDPETRO | 418.05 | 0.22 | 4.09m |
| Adani Green Ene | 2,072.80 | 0.11 | 1.03m |
Sensex Today | PE investors may sell stake in Five Star Business Finance: CNBC-TV18
Stock Market LIVE Updates | Wanbury extends losses on third day
Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas
Indian Rupee edged higher today on weak US Dollar and improved risk sentiments amid China’s economic stimulus. S&P Global projected India’s 2024-25 GDP forecast at 6.5%, unchanged from its previous projection. US Dollar also weakened on the back of disappointing economic data from the US and expectations of further rate cuts by the US Federal Reserve.
US CB consumer confidence fell to 98.7 in September from 105.6 in August and forecast of 103.9. Richmond Manufacturing Index also fell to -21 in September from -19 in August.
We expect Rupee to trade with a positive bias amid improved global risk appetite and weak tone in the US Dollar. However, elevated crude oil prices may cap sharp upside. Traders may take cues from new home sales data from the US and speeches by FOMC members. USDINR spot price is expected to trade in a range of Rs 83.40 to Rs 83.75.
Brokerage Call | HSBC maintains 'buy' rating on HDFC Bank, target raises to Rs 2,010 from Rs 1,870
#1 Reports say company is likely to sell down up to 3 percent of loans in order to rapidly bring down its LDR
#2 Selling loan is important for quicker normalisation of operations
#3 Target price raised to factor in a higher multiple for bank & for its NBFC subsidiary
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Power Grid Corp | 362.25 | 3.47 | 1.61m |
| Axis Bank | 1,264.20 | 1.97 | 173.11k |
| NTPC | 433.30 | 1.24 | 565.26k |
| Bajaj Finance | 7,604.10 | 0.65 | 35.99k |
| HDFC Bank | 1,777.55 | 0.51 | 3.45m |
| ICICI Bank | 1,324.80 | 0.45 | 198.39k |
| Tata Steel | 161.25 | 0.44 | 4.11m |
| ITC | 517.30 | 0.39 | 234.36k |
| Bajaj Finserv | 1,912.50 | 0.37 | 79.69k |
| Maruti Suzuki | 12,750.00 | 0.09 | 5.60k |
| UltraTechCement | 11,770.80 | 0.08 | 17.63k |
| Reliance | 2,979.55 | 0.01 | 128.58k |
| Company | CMP | Chg(%) | Volume |
|---|---|---|---|
| Tech Mahindra | 1,595.45 | -2.59 | 38.33k |
| Titan Company | 3,712.50 | -1.87 | 58.95k |
| Tata Motors | 962.25 | -1.52 | 419.26k |
| Wipro | 533.50 | -1.05 | 110.27k |
| HUL | 2,920.60 | -1 | 15.54k |
| Kotak Mahindra | 1,899.05 | -0.82 | 74.44k |
| JSW Steel | 980.80 | -0.81 | 26.18k |
| Infosys | 1,884.35 | -0.71 | 54.20k |
| SBI | 793.30 | -0.63 | 465.48k |
| IndusInd Bank | 1,440.60 | -0.49 | 21.24k |
| Asian Paints | 3,232.90 | -0.49 | 41.93k |
| TCS | 4,253.45 | -0.44 | 52.19k |
| Nestle | 2,684.05 | -0.43 | 77.74k |
| Sun Pharma | 1,861.10 | -0.38 | 11.54k |
| Bharti Airtel | 1,750.35 | -0.33 | 28.86k |
| Larsen | 3,783.50 | -0.21 | 51.00k |
| M&M | 3,071.55 | -0.06 | 92.85k |
Stock Market LIVE Updates | Saregama India shares gain 4 out of last 5 sessions
Sensex Today | IOC, Indus Towers among others witness short build up
Brokerage Call | Morgan Stanley keeps underperform call on MCX, target Rs 2,950
#1 Revision in transaction fees to comply with SEBI's true-to-label norms
#2 Ceteris paribus, rise in transaction fees would result in a 5 percent increase in F26 EPS
#3 Large proprietary & high frequency traders will be particularly sensitive to the rise
#4 Need to see what will be impact on trading volumes
Stock Market LIVE Updates | Reliance Home Finance locked at upper circuit for sixth consecutive session, extends gain on 9th day
Brokerage Call | Bernstein topic picks include HDFC Bank, Axis Bank & Muthoot Finance amongst NBFCs
Sensex Today | 1 million shares of Samvardhana Motherson International change hands a block: Bloomberg
Sensex Today | 10.4 million shares of KPR Mill change hands in block trade: Bloomberg
Stock Market LIVE Updates | Coromandel International acquires stake in Baobab Mining and Chemicals Corporation
Coromandel International has acquired an additional equity stake in Baobab Mining and Chemicals Corporation, Senegal through Coromandel Chemicals Limited, a wholly-owned subsidiary of the Company.
Stock Market LIVE Updates | Max Estates secures Rs 391 crore from New York Life Investment company, stock jumps
Max Estates announces New York Life Insurance Company's acquisition of a 49% stake in Max Towers and Max House for Rs 391 crore, maintaining a 51 percent stake in both assets.
| Company | CMP | Chg(%) | 50 SMA |
|---|---|---|---|
| Easy Trip | 34.97 | -13.89 | 40.61 |
| Bharat Rasayan | 11398.55 | -5.95 | 12120.16 |
| Antony Waste | 703.15 | -3.88 | 731.52 |
| Aartech Solonic | 71.1 | -3.3 | 73.53 |
| Yudiz Solutions | 57.5 | -3.26 | 59.44 |
Stock Market LVIE Updates | Aditya Birla Renewables raises Rs 2,500 crore through NCDs
Aditya Birla Renewables Ltd raised Rs 2,500 crore via non-convertible debentures (NCDs), including a base issue of Rs 2,000 crore and a Rs 500 crore green shoe option, on September 24, 2024.
Economy Check | India becomes 3rd most powerful nation in Asia, surpasses Japan in Asia Power Index
| Company | CMP Chg(%) | F.F Market Cap (Rs cr) | Contribution |
|---|---|---|---|
| ICICI Bank | 1,326.8 0.62% | 934,811 | 4283.9 |
| HDFC Bank | 1,777.05 0.51% | 1,084,518 | 4072.74 |
| Power Grid Corp | 361.55 3.29% | 151,318 | 3568.85 |
| Axis Bank | 1,257.5 1.45% | 272,266 | 2881.76 |
| Reliance | 2,988 0.31% | 1,111,927 | 2552.38 |
Stock Market LIVE Updates |First SEBI board meeting Buch saga to be held on September 30
Stock Market LIVE Updates | Shriram Properties unveils new Chennai project, eyes Rs 600 crore revenue: Report
Markets@2 | Sensex, Nifty trade flat
The Sensex was up 8.35 points or 0.01 percent at 84,922.39, and the Nifty was down 17.90 points or 0.07 percent at 25,922.50.
Stock Market LIVE Updates | Baazar Style Retail reports loss of Rs 42 lakh
Brokerage Call | CLSA upgrades Astral to 'hold', target raises to Rs 2,025
Stock Market LIVE Updates | Shriram Properties launches a new project
Shriram Properties has launched a new project under the ‘Codename - Pudhiya Chennai’, a prestigious apartment project situated in the vibrant Thirumazhisai neighbourhood of Chennai.
Stock Market LIVE Updates | Tribhovandas Bhimji Zaveri shares locked at lower circuit after 2-day of upper circuit
JB Chemicals shares slip 4% as KKR's $2 billion stake sale at risk over valuation disputes
Torrent Pharma, which had previously approached banks for financing, and Alkem Laboratories, are now reportedly planning to withdraw their bids. Private equity firm EQT, another contender in the deal, has also backed away from its proposal....Read More
Sensex Today | Easy Trip shares falls 13% post 4.6 crore shares block deal
Stock Market LIVE Updates | HDFC Bank extend gains on 6th day
Stock Market LIVE Updates | SJS Enterprises shares gain 5%, breaks 2-day fall
Stock Market LIVE Updates | JTL Industries enters into Investor Relations Support Service Agreement with Ernst & Young
The company has entered into Investor Relations Support Service Agreement on 24th September, 2024 with Ernst & Young LLP for providing Investor Relations Support Services.
Stock Market LIVE Updates | Jaydeepsinh Chavda resigns as Chief Financial Officer of TGB Banquets
Stock Market LIVE Updates | Adani Green Energy approves material related party transaction by its subsidiary
Adani Green Energy at its AGM approved material related party transaction by its subsidiary Adani Renewable Energy Sixty Four with TotalEnergies Renewables Singapore Pte.
Sensex Today | Adani Enterprises incorporates wholly owned subsidiary company 'Adani GCC'
Commodities Check | Crude down 0.5%, trades around USD 75
Stock Market LIVE Updates | Zee Media Corporation shares gain 13% ahead of board meeting
The board will meet on September 27 to consider raising funds through the issuance of permissible instruments or securities, in one or more tranches, via private placement, qualified institutional placement, preferential issue, or any other method.
Markets@1 | Sensex down 100 pts, Nifty down 25900
The Sensex was down 105.91 points or 0.12 percent at 84,808.13, and the Nifty was down 46.60 points or 0.18 percent at 25,893.80. About 1296 shares advanced, 2070 shares declined, and 69 shares unchanged.
