Sentiments were also lifted amid a steep fall in crude oil prices even as some recovery was seen in trade earlier today. At 9.16 am, the BSE Sensex was trading 402 points or 0.67 per cent higher at 60,090.23. Nifty50 was trading at 17,899.90, up 101.15 points or 0.57 per cent. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services NSE 0.84 % said that in India, the market momentum is so strong that the benchmark indices are moving towards previous record highs. Even though valuations are getting expensive investors should remain invested in this strong market. “Strong FII buying and short covering can surprise the market on the upside. Domestic economy-facing stocks continue to be the favourites. Bank Nifty is moving towards record highs,” Vijaykumar added.
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GSPL jumps over 9%, touches biggest single day gain Feb 2021Shares of Gujarat State Petronet (GSPL) rose as much as 9.4 per cent on Friday’s trade. The scrip touched its biggest single day gain since Feb 18, 2021. The stock also traded above all key DMA levels except 200 DMA. At 12.14 pm, The scrip was trading 6.01 per cent higher at Rs 253.85 over its last day’s closing of Rs 239.45 a piece. However, the stock has fallen to over 27 per cent in the past one year while it has been down around 15 per cent year-to-date.
Price as on 09 Sep, 2022 12:35 PM, Click on company names for their live prices.
Sensex outperforms BSE MidCap
STOCK IN FOCUS: IDBI Bank
#ETNOWExclusive | DIPAM, RBI discussed corporate ownership but the latter is not keen on corporate participation, f… https://t.co/6gbhND2JLo
— ET NOW (@ETNOWlive) 1662704531000
AMFI DATA FOR AUG | Net Equity Inflow at Rs 5,942 cr vs Rs 8,883 cr (MoM)
Reliance Power shares in early trade hit 10 per cent lower circuit of Rs 19.2 after the company announced dilution of 15 per cent stake for Rs 933 crore to VFSI Holdings. This is as against the previous day’s closing price of Rs. 21.3 apiece on the NSE. In the filing with the exchanges the company said, “the Board of Directors at its meeting held today i.e. on Thursday, September 8, 2022, has approved, inter alia: a. issuance of upto 60 crore equity shares and/or warrants convertible into equity shares through preferential allotment on a private placement basis to VFSI Holdings Pte. Limited, a foreign investor (Investor), and in this regard, to enter into an investment agreement with the Investor”.
Price as on 09 Sep, 2022 11:55 AM, Click on company names for their live prices.
Yash Management and Satellite further acquires 5% equity shares in subsidiary co Sudarshan Polyfab
Price as on 09 Sep, 2022 11:54 AM, Click on company names for their live prices.
Sensex has crossed 60k mark once again within a month, showing strength in the market. Buying was seen at every fall suggesting the inherent strong fundamentals of the domestic market. Robust macro data points, healthy corporate earnings and above average monsoon is providing support to the market despite weak global cues. Though the aggressive rate hikes by global central banks are likely to continue in near term despite the fear of recession looming large, Indian market is showing resilience as it benefits from the from the strong domestic consumption and China+1 strategy. Even FIIs have been enthusiastic about Indian Markets since Aug’22, despite noise surrounding the global cues. FIIs have bought more than Rs 20k crore in last 40 days. Further, fall in crude Oil prices to seven-month lows aided domestic sentiments. Now it needs to sustain this momentum going forward, for further upmove towards higher levels.
– Sneha Poddar, AVP – Research, Broking & Distribution, Motilal Oswal Financial Services
Most Active Nifty Stocks by Value
Pharmaceuticals firm Lupin Ltd on Friday said it has launched the generic sodium sulfate, potassium sulfate and magnesium sulfate oral solution, used for cleansing colon as a preparation for colonoscopy, in the US market following approval from the country’s health regulator.
Price as on 09 Sep, 2022 11:43 AM, Click on company names for their live prices.
Our stance yesterday was to ride the upsides until 17770-850before looking for signs of bears regrouping. Wayward VIX had refrained us from committing to a directional move even though the 18600 trajectory has been maturing for a while now. This has been the reason for riding the recent moves pivot to pivot rather than embarking on an expansive move. From this perspective, we will go in today, with a downside marker pushed higher to17750, aiming for 17975. While we are biased towards extending upside, we are equally mindful of a sharp long liquidation, should Nifty slip beyond 17700 again.
– Anand James – Chief Market Strategist at Geojit Financial Services
Shares of NDTV hit the 5 per cent lower circuit in Friday’s trade, extending their losing streak to four straight sessions. Shares of broadcasting player NDTV declined 5 per cent, its daily circuit limit, to Rs 440.65 on BSE. The stock has fallen 22.4 per cent from the record high of Rs 567.85 in the last four days. Adani Group’s flagship firm Adani Enterprises, led by world’s third richest man Gautam Adani, holds about 29.18 per cent stake in the company and is eyeing for a controlling stake in the media broadcaster.
Price as on 09 Sep, 2022 11:34 AM, Click on company names for their live prices.
Metal stocks mixed; JSPL, APL Apollo Tube in red
Price as on 09 Sep, 2022 11:33 AM, Click on company names for their live prices.
The Tata Group’s utility firm Tata Power Renewable Energy said it will set up a 100 MW solar power plant for Viraj Profile in Maharashtra. Viraj Profile (VPPL) is a stainless steel manufacturer, which owns and operates a plant located at Tarapur NSE 1.00 % at Nandgaon.
Price as on 09 Sep, 2022 11:07 AM, Click on company names for their live prices.
Shares of Granules India zoomed close to 6 per cent during the early trade on Monday amid the reports that PI Industries is looking to buy a stake in the company. PI Industries is in talks with Granules India to buyout a promoter stake, reported ET Now citing sources. “Initial discussions between the two companies have already taken place,” it said. The promoters of Granules India have a 42 per cent stake in the pharmaceutical company which is valued at Rs 3,200 crore, the report said further.
Price as on 09 Sep, 2022 11:02 AM, Click on company names for their live prices.
Does the fact that #India had held up mean we have more room to fall or that we are stronger, and why? @nikhilkamathcio
Does the fact that #India had held up mean we have more room to fall or that we are stronger, and why? https://t.co/2qfvyOpU7O
— Nikhil Kamath (@nikhilkamathcio) 1662696706000
Automotive technology firm, Sona BLW Precision, said it has completed production of 1,00,000 EV traction motors. The company’s R&D team designed and developed these motors in-house and launched them for production in 2020.
Price as on 09 Sep, 2022 10:44 AM, Click on company names for their live prices.
The state run Coal India informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with high inflation. The miner was seeking to raise prices to mitigate high input costs on account of high diesel and explosives prices, among others. CIL has not raised prices in the last four years.
Price as on 09 Sep, 2022 10:43 AM, Click on company names for their live prices.
Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
In India, the market momentum is so strong that the benchmark indices are moving towards previous record highs. Even though valuations are getting expensive investors should remain invested in this strong market. Strong FII buying and short covering can surprise the market on the upside. Domestic economy-facing stocks continue to be the favourites. Bank Nifty is moving towards record highs.
Auto components maker Samvardhana Motherson International said it will acquire Daimler India Commercial Vehicles’ frame manufacturing and assembly operations facilities in Chennai. The company has signed a strategic agreement, including a long-term deal with DICV for supply of the complete frame assembly as a part of the transaction.
Price as on 09 Sep, 2022 10:19 AM, Click on company names for their live prices.
Nifty PSU Bank index up 1.23%; PNB up 2.35%, SBI almost 2%
Price as on 09 Sep, 2022 10:18 AM, Click on company names for their live prices.
#ETNOWExclusive | | PI Industries, Granules India in focus! PI Industries is in talks with Granules to buyout promoter stake
#ETNOWExclusive | | PI Industries, Granules India in focus! PI Industries is in talks with Granules to buyout promo… https://t.co/NP2O538eu4
— ET NOW (@ETNOWlive) 1662694848000
Cerberus Capital and Asset Reconstruction Company of India (Arcil) have dropped out of the race to acquire more than Rs 48,000 crore of distressed loans of Yes Bank. They did not submit a counter-bid against a binding offer by JC Flowers ARC.
Price as on 09 Sep, 2022 10:00 AM, Click on company names for their live prices.
Anil Ambani’s Reliance Power Ltd (RPL) will raise Rs 933 crore by offloading a 15% stake in the company to VFSI Holdings, the company said in an exchange filing on Thursday.
Price as on 09 Sep, 2022 09:57 AM, Click on company names for their live prices.
Buy or Sell: Stock ideas by experts for September 09, 2022
The government will acquire a stake in debt-ridden telecom firm after the stock price of the company stabilises at Rs 10 or above. Vodafone Idea board has offered a stake to the government at a par value of Rs 10 per share. The finance ministry had cleared the proposal to acquire stake in VIL in July.
Price as on 09 Sep, 2022 09:50 AM, Click on company names for their live prices.
Rupee rises 8 paise to 79.61 against US dollar in early trade
Rain Industries temporarily shuts Europe operating unit; stock falls 4%
Price as on 09 Sep, 2022 09:49 AM, Click on company names for their live prices.
IT rally; large caps and midcaps shine
Price as on 09 Sep, 2022 09:48 AM, Click on company names for their live prices.
Most active stocks on NSE in opening deals
Price as on 09 Sep, 2022 09:38 AM, Click on company names for their live prices.
All sectors gain in opening deals! Metals lead gainer
Sea of green… all index stocks trade higher
OPENING BELL: Sensex tops 60K, jumps 350 points; Nifty reclaims 17,900; Voda Idea up 3%, YES Bank 2%
BROKERAGE RADAR | Credit Suisse maintain outperform on IndusInd Bank; CLSA maintain sell on Bajaj Finance
#BrokerageRadar | Credit Suisse on IndusInd Bank: Maintain Outperform; Management is confident in growth picking up… https://t.co/W0pX8gt7VK
— ET NOW (@ETNOWlive) 1662687784000
Harsha Engineering IPO to open Sept 14; price band fixed
The initial public offering (IPO) of Harsha Engineers International will kick off for subscription on Wednesday, September 14. The company will sell its shares in the range of Rs 314-330 apiece. The IPO consists of the issuance of fresh equity shares worth Rs 455 crore, whereas existing shareholders and promoters will offload Rs 300 crore worth of shares via offer for sale (OFS).
STOCK IN FOCUS: Rain Industries
#StocksInFocus | Rain Industries temporarily shuts Europe operating unit, as per agencies #RainIndustries… https://t.co/rChjp2Ihd7
— ET NOW (@ETNOWlive) 1662692143000
Asian shares edge higher as dollar eases
Asian shares crept higher as the dollar eased, with markets turning calmer after a record interest rate hike from the European Central Bank and hawkish comments from the U.S. Federal Reserve Chair reinforced bets of aggressive tightening ahead.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 86 points, or 0.48 per cent, higher at 17,905.50, signaling that Dalal Street was headed for a positive start on Friday.
Tech View: A follow-up buying may ensure Nifty50 bulls are back
After a gap-up start, the index ended up forming a small bullish candle with a long lower wick, suggesting intraday selling was bought into. Analysts said a follow-up buying may help gauge the strength of the upmove.
Oil prices retreat on demand destruction fears
Oil prices turned down in early trade on Friday after a slight rebound in the previous session, leaving them set to fall for a second straight week on worries that central banks’ aggressive rate hikes and China’s COVID-19 curbs will hurt demand.
Tokyo stocks open higher on US rallies
Tokyo stocks opened higher on Friday after Wall Street gains despite the European Central Bank’s largest rate hike ever and more hawkish comments from the US Federal Reserve. The benchmark Nikkei 225 index was up 0.49 percent, or 138.54 points, at 28,203.82 in early trade, while the broader Topix index was up 0.08 percent, or 1.52 points, at 1,959.14.
Wall Street ends higher, gains driven by banks, healthcare
Wall Street’s main indexes posted gains on Thursday mainly lifted by financial institutions and healthcare companies, as investors digested hawkish remarks from policymakers that cemented bets of a large interest rate hike later this month.
Rupee rises by 26 paise to close at 1-week high against US dollar
The rupee rose by 26 paise to close at a week’s high of 79.69 against the US dollar on Thursday amid easing crude oil prices and a firm trend in domestic equities.
Sensex, Nifty on Thursday
The 30-share Sensex advanced 659 points to end at 59,688. Its broader peer, Nifty50, ended tad below 17,800 at 17,799, up 174 points.
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