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Sensex Ends 1,075 Points Higher As Markets Extend Rally To Second Day: Highlights

Last Friday, the Sensex had surged 1,921.15 points - or 5.32 per cent - to end at 38,014.62, in its best single-day gain in past 10 years.

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Sensex Ends 1,075 Points Higher As Markets Extend Rally To Second Day: Highlights

Sensex, Nifty today: Gains across sectors except IT and pharma pushed the markets higher

Domestic stock markets registered sharp gains on Monday, extending a rally after the government announced its decision cut the corporate tax rates to a second straight day. The S&P BSE Sensex index rose as much as 1,426.5 points - or 3.75 per cent - to 39,441.12 during the session - a level last seen on July 8 this year. The broader NSE Nifty benchmark climbed to as high as 11,694.85, up 420.65 points - or 3.73 per cent - from the previous close. Gains across sectors except IT and pharma - led by banking, auto and consumer goods shares - pushed the markets higher. HDFC Bank, HDFC, ICICI Bank and ITC contributed a total 730 points to the surge in Sensex. Corporate tax announcements by the government have led to the rally in markets and boosted the investor sentiment, say analysts.

Here are the highlights of the movement in domestic share markets (Sensex and Nifty) on September 23, 2019:




Sep 23, 2019
16:31 (IST)
Bharat Petroleum, Bajaj Finance, L&T Shares Top Gainers
Top Nifty Gainers/Losers 
StockChange
Bharat Petroleum+13.66%
Larsen & Toubro+9.14%
Bajaj Finance+8.91%
Eicher Motors+8.90%
Indian Oil+8.45%
Dr Reddy's Laboratories-3.95%
Tata Motors-4.17%
Power Grid-4.36%
Infosys-4.97%
Zee Entertainment-8.08%
Top Sensex Gainers/Losers 
Bajaj Finance+8.70%
L&T+8.13%
Asian Paints+7.89%
ITC+6.95%
Axis Bank+6.81%
Tech Mahindra-2.68%
NTPC-3.42%
Power Grid-4.07%
Tata Motors-4.16%
Infosys -4.97%
Sep 23, 2019
16:16 (IST)
Sensex, Nifty Extend Rally To Second Straight Day
The Sensex ended 1,075.41 points - or 2.83 per cent - higher at 39,090.03 - its highest closing level recorded since July 17 - while the Nifty settled at 11,603.40, up 329.20 points - or 2.92 per cent - from its previous close. Nine of the 11 sectoral indices on the NSE end higher, with the Nifty Bank gauge - comprising shares of 12 major banks - closing at a gain of 5.41 per cent. 


National Stock Exchange Sectoral IndexChange
 Nifty Private Bank+5.64%
Nifty Bank+5.41%
Nifty Financial Services+5.35% 
Nifty Fast-Moving Consumer Goods (FMCG) +4.41%
Nifty Auto+2.99%
Nifty Realty+2.22%
Nifty PSU (Public Sector Undertaking) Bank +2.02% 
Nifty Media+1.27%
 Nifty Metal+0.77%
Nifty Pharma-2.17%
Nifty Information Technology-2.88%
Sep 23, 2019
15:08 (IST)
Britannia Shares Give Up Some Gains After Hitting 10-Month High
Britannia shares jumped as much as 20 per cent on Monday amid large volumes. On the Bombay Stock Exchange (BSE), the stock rose as much as 20.12 per cent and was locked in an upper circuit in afternoon deals at Rs. 3,443.90 apiece, before giving up some of those gains. 
That marked the highest intraday level recorded in Britannia since the shares split in the ratio of 1:2 in November last year. (Read more here)


Sep 23, 2019
13:52 (IST)
Sensex, Nifty: Larsen & Toubro (L&T) Shares Top Gainer On Both Benchmark Indices
In afternoon, 18 stocks on the benchmark Sensex index moved higher. Top percentage gainers were Larsen & Toubro, IndusInd Bank, Bajaj Finance, Asian Paints and ITC, trading between 6.47 per cent and 8.68 per cent higher. 
Sep 23, 2019
13:01 (IST)
Sensex Soars Over 1,400 Points Amid Strong Buying In Banking, Consumer Goods Stocks
At 12:53 pm, the S&P BSE Sensex index traded 1,362.66 points - or 3.58 per cent - higher at
39,377.28 while the broader NSE Nifty benchmark climbed to 11,677.25, up 403.05 points - or 3.57 per cent - from the previous close. 
Top percentage gainers on the 50-scrip index at the time were Larsen & Toubro, IndusInd Bank, Adani Ports, Asian Paints and Bajaj Finance, trading between 7.91 per cent and 9.77 per cent higher.


Sep 23, 2019
12:46 (IST)
ITC, Britannia, Hindustan Unilever Lead Gains In Consumer Goods Shares
Fast-moving consumer goods stocks ITC, Britannia and Hindustan Unilever jumped as much as 9.30 per cent, 20.12 per cent and 6.69 per cent respectively on the BSE. On Friday, the GST Council slashed the rate on hotel room tariffs but more than doubled the tax on caffeinated beverage.
The Nifty FMCG and S&P BSE Fast-Moving Consumer Goods sectoral indices rose 6.22 per cent and 6.20 per cent respectively. The S&P BSE Consumer Discretionary Goods & Services index climbed 4.08 per cent.
Sep 23, 2019
12:28 (IST)
Thomas Cook India Shares Fall Over 9%
Thomas Cook India shares fell as much as 9.26 per cent on the BSE on Monday, after Thomas Cook Group Plc collapsed under a pile of debt after talks with creditors failed. Thomas Cook India said it has no relation with Thomas Cook UK as it is a completely separate entity since its acquisition by Canada-based Fairfax Financial Holdings in 2012.
Sep 23, 2019
12:08 (IST)
Petronet LNG Shares Off Day's Highs After Surging Over 10%
Petronet LNG shares surged more than 13 per cent on Monday before reversing those gains, after the company signed a memorandum of understanding with US-based Tellurian Inc. Petronet LNG shares jumped as much as 13.17 per cent to Rs 302.00 apiece on the BSE, before slumping 18.18 per cent from that level. 
On the National Stock Exchange, Petronet LNG rose as much as 12.21 per cent to Rs 299, and then fell as much as 7.41 per cent from that level to Rs 246.70, underperfroming the Nifty and Sensex which were up over 3 per cent each.
Sep 23, 2019
12:03 (IST)
SBI To Link Floating Rate Loans To Repo Rate From October 1
The country's largest bank said on Monday that it would adopt the repo rate as external benchmark for all its floating rate-based loans from October 1. The move comes within three weeks of the Reserve Bank of India (RBI) directing banks to link floating rate-based loans with external benchmark rates, in a bid to enable a faster transmission of reduction in key interest rates to borrowers. (Read full story here)
Sep 23, 2019
12:03 (IST)
SBI Shares Jumo Over 4% Amid Large Volumes
State Bank of India (SBI) shares jumped as much as 4.16 per cent to Rs 314.25 apiece on the BSE, contributing to a 5.53 per cent gain in the Nifty Bank index. At 11:59 am, SBI shares traded 2.80 per cent higher at Rs 310.15 apiece on the BSE. As many as 21.98 lakh SBI shares had changed hands so far on Monday, as against an average of 13.38 lakh in the past two weeks. 

Sep 23, 2019
11:10 (IST)
Banking, Auto, Consumer-Goods Sectors Rise; IT, Pharma Lag
Nine out of the 11 sectoral indices on the National Stock Exchange (NSE) traded higher in morning. 

National Stock Exchange Sectoral IndexChange
Nifty Fast-Moving Consumer Goods (FMCG)+4.98%
Nifty Private Bank+3.97%
Nifty Bank+3.60%
Nifty Financial Services+3.29%
Nifty Auto+1.72%
Nifty Realty+1.49%
Nifty Media+0.97%
Nifty Metal+0.73%
Nifty PSU (Public Sector Undertaking) Bank+0.22%
Nifty Pharma-1.31%
Nifty Information Technology-2.37%
Sep 23, 2019
10:20 (IST)
Advance-Decline Ratio Favours Gains

Market breadth favoured gains, with an advance-decline ratio of nearly 3:1. On the Bombay Stock Exchange (BSE), 1,376 stocks traded higher while 552 moved lower. On the National Stock Exchange (NSE), 1,212 shares advanced while 457 declined. 
Top Nifty Gainers/Losers 
StockChange
L&T+7.30%
ITC+6.74%
Britannia+6.57%
Adani Ports+6.15%
Asian Paints+5.96%
Power Grid-2.70%
Yes Bank-2.97%
Tata Motors-3.15%
Infosys-3.20%
Dr Reddy's Laboratories-4.20%
Top Sensex Gainers/Losers 
L&T +7.25%
ITC +6.66%
HUL +6.13%
Asian Paints +5.86%
IndusInd Bank +5.66%
Power Grid -2.67%
M&M -2.84%
Tata Motors -3.07%
Yes bank -3.25%
Infosys -3.32%
Sep 23, 2019
10:17 (IST)
Sensex, Nifty Off Day's Highs
The markets gave up some of the gains in the first hour of trade. At 10:11 am, the Sensex traded 777.87 points - or 2.05 per cent - higher at 38,792.49, while the Nifty was up  238.50 points - or 2.12 per cent - at 11,512.70. 
The Nifty Bank, Auto and FMCG sectoral indices on the NSE were up 3.60 per cent, 1.72 per cent and 4.98 per cent at the time. On the other hand, the Nifty IT and Pharma indices were down 2.37 per cent and 1.31 per cent respectively.
Sep 23, 2019
09:44 (IST)
ITC, Britannia, L&T, HDFC Bank Top Gainers
At 9:21 am, the S&P BSE Sensex index traded 1,045.98 points - or 2.75 per cent - higher at 39,060.60, while the broader NSE Nifty benchmark was at 11,569.65, up 295.45 points - or 2.62 per cent - from the previous close. 
Top percentage gainers on the 50-scrip index at the time were ITC, Larsen & Toubro, IndusInd Bank, Britannia, ICICI Bank and Asian Paints, trading between 5.07 per cent and 8.28 per cent higher. HDFC Bank, ITC, Larsen & Toubro and ICICI Bank contributed the most to the surge in Sensex. 
Sep 23, 2019
09:41 (IST)
"Mega Bull Run Starting": IDBI Capital's AK Prabhakar
"A mega bull market is starting now on the back of the reforms of the century for India... I don't think we will be looking back anytime soon," AK Prabhakar, head of research at IDBI Capital, told NDTV. "ITC has got a triple bonus, in the form of the ban on e-cigarettes, the cut in corporate taxes and the reduction in GST on hotel room tariffs. 
Sep 23, 2019
09:20 (IST)
Sensex, Nifty Open Sharply Higher
The S&P BSE Sensex opened 829.38 points - or 2.18 per cent - higher at 38,844.00 , while the broader NSE Nifty benchmark started the session at 11,542.70 , up 268.5 points - or 2.38 per cent - from the previous close. 
Sep 23, 2019
09:06 (IST)
Sensex, Nifty Rise In Pre-Open Market
The S&P BSE Sensex index moved up as much as 752.52 points to 38,767.14  in the pre-opening session. At 9:07 am, the Sensex was up 831.68 points - or 2.19 per cent - at 38,846.30 while the broader Nifty benchmark was at 11,543.60, up 269.40 points - or 2.39 per cent - from the previous close.
Sep 23, 2019
09:00 (IST)
Corporate Tax Cut Sent Positive Message “Not Just In India”: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman said on Twitter that the government's move on corporate tax has sent a positive message "not just in India" but around the globe. 

Sep 23, 2019
08:57 (IST)
On Friday, the GST Council decided to more than double the tax on caffeinated beverages to 40 per cent while lowering the tax rate applicable to hotel room tariffs. Finance Minister Nirmala Sitharaman said the GST on caffeinated beverages was hiked to 28 per cent plus additional cess of 12 per cent as against the existing rate of 18 per cent.
For hotels, she announced nil tax for those with tariffs of up to Rs. 1,000 per night. Hotels charging Rs. 1,001 to Rs. 7,500 per night room tariff would be levied with 12 per cent tax as against the existing 18 per cent.
Sep 23, 2019
08:49 (IST)
Asian Markets Down Amid Renewed Concerns About US-China Trade War
Equities in other Asian markets moved lower, with MSCI's broadest index of Asia Pacific shares except Japan last seen trading 0.49 per cent lower. Last Friday on Wall Street, shares fell after a Chinese agriculture delegation cancelled a planned visit to Montana, dampening optimism about US-China trade talks. The Dow Jones Industrial Average fell 0.59 per cent, the S&P 500 lost 0.49 per cent and the Nasdaq Composite dropped 0.8 per cent. 

Last Friday, the S&P BSE Sensex index had surged 1,921.15 points - or 5.32 per cent - to end at 38,014.62, in its best single-day gain in past 10 years. 


Sep 23, 2019
08:46 (IST)
Sensex, Nifty Likely To Open Higher Today

Domestic stock markets are likely to start on a positive note on Monday. At 8:28 am, the SGX Nifty futures were up 144.00 points - or 1.27 per cent - higher at 11,484.00 on the Singapore Exchange. The SGX Nifty futures trading on the Singapore Exchange are an early indicator of the National Stock Exchange (NSE) Nifty in India. 

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