BSE Sensex Today: The Sensex rose as much as 231.9 points on Wednesday while the Nifty hit 10,885.15
Domestic stock markets ended higher on Wednesday to break a two-day losing streak. After starting the session with a gain of 140.29 points at 36,621.38, the S&P BSE Sensex index rose as much as 231.9 points to touch 36,712.99 at the day's strong level. The broader NSE Nifty benchmark rose to as much as 10,885.15, up 67.55 points from the previous close. Both benchmark indices gave up most of those gains by the end of the session, as gains in metal, energy and state-run banking shares were offset by automobile, pharmaceutical and telecom stocks. Mid- and small-cap sectors outperformed the markets, with the S&P BSE indices finishing 0.39 per cent and 0.30 per cent higher respectively.
Here are highlights of the movement in domestic share markets (Sensex and Nifty) on September 18, 2019:
Nifty Seen Returning To 10,910 In Next Few Days: Kotak Securities
"Going forward, the Nifty index could retrace back to 10,910 levels in the next few days. Today, global markets are most likely to trade sideways on the back of the outcome from the Fed meeting on rate cut," said Shrikant S Chouhan, senior vice-president-equity technical research at Kotak Securities.
The Federal Reserve - the US central bank - is due to announce its decision on key interest rates later in the day. The central bank is expected to cut its benchmark rate by one quarter of a percentage point to a range of 1.75-2 per cent, the second rate reduction this year, according to news agency Reuters.
Metal, State-Run Banking Sectors Lead Upmove
Gains in metal, energy and state-run banking sectors pushed the markets higher. However, weakness in auto and pharma stocks limited the upside.
NSE sectoral movement
Tata Steel, Bharat Petroleum, Vedanta Top Gainers
Top percentage gainers on the 50-scrip index were Tata Steel, Bharat Petroleum, Vedanta, GAIL and State Bank of India, ending between 2.35 per cent and 3.70 per cent higher. Reliance Industries, SBI and ITC contributed the most to the rise in Sensex.
Top Sensex Gainers/Losers
Top Nifty Gainers/Losers
Sensex Ends 83 Points Higher, Nifty At 10,841
The S&P BSE Sensex gave up most of the day's gains to end at 36,563.88, up 82.79 points - or 0.23 per cent - from the previous close. The broader NSE Nifty benchmark closed 23.05 points - or 0.21 per cent - higher for the day at 10,840.65.
Market Update: Sensex, Nifty Set To Snap Two-Day Losing Streak
The S&P BSE Sensex and NSE Nifty 50 benchmark indices are set to snap their two-day losing streak, led by gains in ITC, Kotak Mahindra Bank, State Bank of India, Bajaj Finance and Tata Consultancy Services (TCS).
At 2:56 pm, the Sensex traded up 148 points or 0.4 per cent at 36,623 and the Nifty was at 10,858, up 41 points or 0.4 per cent.
Cigarette Makers Surge On Report Of Government Imposing Ban On E-Cigarettes
Shares of ITC, Godfrey Philips and VST Industries rose as much as 2.17 per cent, 8.99 per cent and 3.45 per cent each respectively on report that the government has decided to impose ban on e-cigarettes.
As of 2:48 pm, VST Industries traded 0.81 per cent higher at Rs 3,530, ITC was up 1..9 per cent at Rs 240.45 and Godfrey Philips was rose 7.61 per cent to Rs 1,010.
Market Breadth Remains Positive; FMCG Index Worst On NSE
The overall market breadth was positive as 934 shares were advancing while 791 were declining on the NSE.
Seven of 11 sector gauges compiled by National Stock Exchange were trading higher led by the Nifty Metal index's 1.4 per cent gain. On the flipside, Nifty FMCG index was top loser, down 0.4 per cent.
Government To Invite Bids From Global Coal Miners Before End Of 2019: Report
Government plans to invite bids from global firms for the first time for coal mining blocks before end-2019, sources familiar with the matter said, a move that would end Coal India Ltd's near-monopoly for the fuel as the nation tries to cut imports.
Coal is among the top five commodities imported by India, one of the world's largest consumers of the fuel. Coal imports are surging after the government failed to open the industry to competition, despite having passed a liberalization policy 19 months ago.
The coal block auctions are intended to attract global miners such as Glencore PLC, BHP Group, Anglo American PLC and Peabody Energy Corp.
Metal, Realty Shares Among Top Performers On BSE
Metal and realty shares were witnessing good buying interest. Both the sector gauges rose over 1 per cent outperforming the Sensex which was up 0.4 per cent.
Top gainers in the metal space: NMDC up 4.79%
- Tata Steel up 3.67%
- Jindal Steel up 3.31%
- JSW Steel up 3.26%
- Vedanta up 2.82%
Top gainers in the realty space:
- Prestige Estates up 7.87%
- Sobha Developers up 4.03%
- Sunteck Realty up 2.00%
- Oberoi Realty up 1.97%
- DLF up 1.96%
Coffee Day Enterprises Rises On Selling Bengaluru Tech Park
Shares of the Bengaluru-based cafe chain operator rose as much as 4.95 per cent to Rs 76.35 after the company after market hours informed exchanges that it will sell its Bengaluru tech park to Blackstone Group along with Salapuria Sattva Group.
Blackstone Group along with Salapuria Sattva Group has signed a definitive agreement to purchase the Global Village TechPark of debt-laden Coffee Day Enterprises' subsidiary Tanglin Development Ltd at an enterprise value of Rs. 2,700 crore.
"The board has approved and the company has executed the definitive agreements with entities belonging to Blackstone Group and the Salarpuria Sattva Group for investment in GV Techparks Private Ltd, a wholly-owned subsidiary of Tanglin Development Ltd ("TDL"). The completion of the transaction is dependent on the transfer of Global Village TechPark asset from TDL to GV Techpark Private Ltd," Coffee Day Enterprises said in a statement.
Coffee Day said that the transaction will substantially bring down the debt level of the group which was Rs. 4,970 crore as on August 17, 2019.
As of 12:50 pm, Coffee Day shares were up 2.2 per cent at Rs 74.35.
CG Power and Industrial Solutions Falls After Sebi Bars Gautam Thapar From Accessing Securities Market
Shares of CG Power and Industrial Solutions fell as much as 4.97 per cent to hit an intraday low of Rs 14.91 after the market regulator Security and Exchange Board of India (Sebi) barred its former chairman and one of the directors Gautam Thapar from accessing the securities market and ordered the appointment of an independent auditor for conducting a detailed forensic audit from 2015-16 onwards.
Along with Gautam Thapar, Executive Director Madhav Acharya, VR Venkatesh, and non-excutive Director B Hariharan were also named in the order.
As of 12:39 pm, CG Power and Insdustrial Solution's shares traded 1.85 per cent lower at Rs 15.40.
Market Update: Sensex Rises Over 100 Points, Nifty Above 10,850
The equity benchmarks moved sharply higher in noon deals on the back of gains in banking heavyweights like Kotak Mahindra Bank and State Bank of India. The Nifty Bank index rose 198 points or 0.7 per cent to 27,330. As of 12:25 pm, the Sensex rose 0.4 per cent or 146 points to 36,627 and Nifty 50 Index was up 0.36 per cent or 39 points to 10,857.
Top Nifty 50 gainers:
- Tata Steel up 3.03%
- JSW Steel up 2.78%
- Bajaj Finance up 2.40%
- State Bank of India up 2.37%
- Bajaj Finserv up 2.37%
Top Nifty 50 losers:
- Britannia Industries down 2.71%
- ONGC down 2.35%
- Coal India down 1.77%
- Bharti Airtel down 1.27%
- Eicher Motors down 0.95%
Auto, Pharma, Consumer Goods Weigh On Markets; Nifty Turns Flat
The markets gave up most of the day's gains amid selling in automobile, pharmaceutical and consumer goods sectors. At 11:07 am, the S&P BSE Sensex index traded 44.51 points - or 0.12 per cent - higher at 36,525.60 while the broader NSE Nifty benchmark was at 10,813.90, down 3.70 points - or 0.03 per cent - from the previous close.
Advance-decline Ratio Positive
Market breadth favoured gains, with 1,033 stocks trading higher on the Bombay Stock Exchange (BSE) and 849 moving lower. On the National Stock Exchange (NSE), 903 stocks advanced while 738 declined.
Bharat Petroleum, Bajaj Finance, SBI Top Gainers
Top Gainers/Losers On Sensex
|Indiabulls Housing Finance||+1.36%|
|Mahindra & Mahindra||-0.65%|
At 9:20 am, the Sensex traded 207.84 points - or 0.57 per cent - higher at 36,688.93 while the Nifty was up 56.95 points - or 0.53 per cent - at 10,874.55.
Top gainers on the 50-scrip index at the time were Bharat Petroleum, Indian Oil, Hero MotoCorp, Yes Bank and Indiabulls Housing Finance, trading between 1.62 per cent and 3.44 per cent higher.
Sensex Opens 140 Points Higher, Nifty Above 10,850
The S&P BSE Sensex index opened 140.29 points higher at 36,621.38, whereas the broader NSE Nifty index started the session at 10,872.80, up 55.2 points from its previous close. On Tuesday, the 50-scrip benchmark index had ended 1.69 per cent lower, giving up all of the gains
so far this calendar year, and the S&P BSE Sensex settled at a loss of 1.73 per cent from its previous close.
Pre-Open Market: Sensex Up Over 250 Points
The S&P BSE Sensex rose as much as 270.48 points to 36,751.57 in the pre-opening session.
At 9:07 am, the Sensex was up 138.42 points - or 0.38 per cent - at 36,619.51 while the Nifty was up 57.20 points - or 0.53 per cent - at 10,874.80. Forty five stocks on the Nifty were indicated to move higher in the pre-opening session.
Finance Minister Nirmala Sitharaman is set to announce more fiscal measures in the coming days, though the contours of those have not being disclosed, news agency IANS reported. Sources said infrastructure could be an area of action, the agency quoted sources as saying.
At least one announcement of sectoral stimulus is in the near horizon by the Finance Minister, IANS quoted official sources as saying. (Read full story here
Asian Shares Up With Modest Gains Ahead Of Fed Decision On Rate
Other Asian markets registered mild gains, with MSCI's broadest index of Asia-Pacific shares outside Japan last seen up 0.13 per cent. An expected reduction in the key interest rates by the Federal Reserve - the US central bank - kept wider financial markets in tight ranges. Japan's Nikkei was flat.
Overnight on Wall Street, US shares ticked up a tad with the S&P 500 gaining 0.26 per cent.
SGX Nifty Futures Indicate Positive Opening For Indian Markets
Domestic stock markets are likely to start Wednesday's session on a positive note. At 8:38 am, the SGX Nifty futures traded 49.00 points - or 0.45 per cent - higher at 10,891.00 on the Singapore Exchange. The SGX Nifty futures are an early indicator of the National Stock Exchange (NSE) Nifty index in India.