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Tuesday, October 19, 2021

Market Highlights: Indices settle at new highs, Sensex ends above 60,000-mark for the first time

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at a fresh lifetime high of 60,048.47, up 163.11 points (0.27 per cent), while the Nifty 50 settled at an all-time high of 17,853.20, up 30.25 points (0.17 per cent).

By: Express Web Desk | New Delhi |
Updated: September 24, 2021 5:56:40 pm
Bombay Stock Exchange building. (Express archive photo)

Share/Stock Highlights: The topline equity indices on the BSE and National Stock Exchange (NSE) ended with marginal gains to settle at fresh new peaks on Friday.

The S&P BSE Sensex rose 163.11 points (0.27 per cent) to end at a record-closing high of 60,048.47. Earlier in the day, the BSE benchmark had surged 447.64 points (0.75 per cent) to breach the 60,000-mark for the very first time and hit a fresh record intraday high of 60,333.00.

Likewise, the Nifty 50 climbed 30.25 points (0.17 per cent) to end at an all-time high of 17,853.20. The NSE barometer had earlier breached the 17,900-mark for the first time ever to touch a record high of 17,947.65.

Gains on the Sensex pack on Friday were led by Asian Paints, Mahindra & Mahindra (M&M), HCL Technologies, HDFC Bank, Bharti Airtel and Maruti Suzuki India. On the other hand, Tata Steel, State Bank of India (SBI), Axis Bank, ITC, Hindustan Unilever (HUL) and NTPC were the top laggards.

Among the sectoral indices on NSE, the Nifty Realty index climbed 1.50 per cent led by a sharp gain in Oberoi Realty. On the other hand, the Nifty Metal index fell 2.10 per cent weighed by Tata Steel, Jindal Steel & Power and National Aluminium Company.

In the broader market, the S&P BSE MidCap index ended at 25,194.84, down 294.86 points (1.16 per cent). The S&P BSE SmallCap settled at 28,023.34, down 85.58 points (0.30 per cent). The volatility index or India VIX rose 1.92 per cent to 16.9225.

(with inputs from agencies)

Live Blog

Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

16:19 (IST)24 Sep 2021
MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Friday's market performance

"Weak global market did not affect the upside momentum of the domestic market to hit record highs boosted by realty and IT stocks. India is seizing a sweet spot in the global equity market with the increase in domestic investors. However, profit-booking was noticeable in mid & small-cap stocks, which were under pressure and it can continue in the short-term. Realty stocks continued to outperform other sectors owing to an increase in property registrations, and cut in stamp duty (Karnataka) and home loan rates."

16:16 (IST)24 Sep 2021
Rupee slips 4 paise to close at 73.68 against US dollar

The Indian rupee slipped 4 paise to close at 73.68 (provisional) against the US dollar on Friday, following weaker Asian peers against the American currency.

At the interbank foreign exchange market, the local currency opened at 73.77. It touched an intra-day high of 73.61 and a low of 73.78 during the day.

(PTI)

15:34 (IST)24 Sep 2021
Equity markets at close

The S&P BSE Sensex ended at 60,048.47, up 163.11 points or 0.27 per cent, while the Nifty 50 settled at 17,853.20, up 30.25 points or 0.17 per cent.

15:31 (IST)24 Sep 2021
Crude oil futures dip on weak spot demand

Crude oil prices on Friday fell Rs 4 to Rs 5,421 per barrel after participants cut their positions.

On the Multi Commodity Exchange, crude oil for the October delivery dropped by Rs 4, or 0.07 per cent, to Rs 5,421 per barrel with a business volume of 6,385 lots.

Analysts said the fall in crude oil futures was mostly due to trimming of positions by traders amid a weak spot demand.

Globally, however, West Texas Intermediate crude oil was trading 0.25 per cent higher at USD 73.48 per barrel.

Meanwhile, Brent crude, the international benchmark, up 0.43 per cent to trade at USD 77.58 per barrel in New York.

(PTI)

15:28 (IST)24 Sep 2021
Gold futures gain on spot demand

Gold prices on Friday rose Rs 8 to Rs 46,064 per 10 gram in the futures trade, as speculators created fresh positions amid firming spot demand.

On the Multi Commodity Exchange, gold contracts for October delivery traded higher by Rs 8, or 0.02 per cent, to Rs 46,064 per 10 grams in a business turnover of 1,532 lots.

Fresh positions built up by participants led to the rise in gold prices, analysts said.

Gold prices traded 0.31 per cent higher at USD 1,755.30 per ounce in New York.

(PTI)

15:26 (IST)24 Sep 2021
Copper futures fall on weak demand

Copper futures on Friday slipped 0.21 per cent to Rs 713.0 per kg, as participants cut their positions amid muted demand in the domestic market.

On the Multi Commodity Exchange, copper contracts for the September delivery eased by Rs 1.50, or 0.21 per cent, to Rs 713.40 per kg in a business turnover of 2,548 lots.

Analysts said trimming of positions by speculators due to muted demand in the spot market mainly led to the fall in copper prices here.

(PTI)

15:16 (IST)24 Sep 2021
Petrol price steady, diesel hiked for the first time in 19 days

Prices of diesel were hiked for the first time in 19 days on Friday, September 24, while petrol prices continued to remain steady. In the national capital, diesel rose 20 paise per litre.

The prices of both the auto fuels were last revised on September 5 when petrol and diesel prices were cut by 15 paise per litre each in the national capital. Click here to read

15:16 (IST)24 Sep 2021
Petrol price steady, diesel hiked for the first time in 19 days

Prices of diesel were hiked for the first time in 19 days on Friday, September 24, while petrol prices continued to remain steady. In the national capital, diesel rose 20 paise per litre.

The prices of both the auto fuels were last revised on September 5 when petrol and diesel prices were cut by 15 paise per litre each in the national capital. Click here to read

15:16 (IST)24 Sep 2021
Petrol price steady, diesel hiked for the first time in 19 days

Prices of diesel were hiked for the first time in 19 days on Friday, September 24, while petrol prices continued to remain steady. In the national capital, diesel rose 20 paise per litre.

The prices of both the auto fuels were last revised on September 5 when petrol and diesel prices were cut by 15 paise per litre each in the national capital. Click here to read

13:42 (IST)24 Sep 2021
MARKET QUOTE | Anand James, Chief Market Strategist, Geojit Financial Services on Sensex hitting 60,000 landmark

"Sensex mounted the 60k mark as risk appetite improved after fears surrounding Evergrande debt crisis eased. BSE found almost 60% of the stocks advancing in the first hour. But we remain watchful of markets weighing in rate hike prospects as US treasury yields have begun to firm up, following Fed's taper signals."

13:25 (IST)24 Sep 2021
MARKET QUOTE | Nish Bhatt, Founder & CEO, Millwood Kane International on Sensex hitting 60,000 landmark

“The Indian equity market is on a roll. The bullish sentiment continued with key indices Sensex attaining a level of 60,000 for the first time ever and Nifty50 near 18,000 level. The key thing is the swiftness of the rally. The time taken for Sensex to move from 55,000 to 60,000 level came in only 29 trading sessions. That was a rally of nearly 9% in less than 2 months. The rally points out the confidence of investors in the underlining strength of the Indian market. India has been one of the best return-yielding markets among the emerging market spectrum.

Not only the institutional investors but also the retail investors provided legs to the current market rally. India saw millions of new retail investors entering the market as interest on bank deposits dipped. The number of Demat accounts has crossed 50 million.

The rally in the market is on prospective unlocking, the pace of vaccination despite a huge population. The demand push during the festive season coupled with an earnings upgrade for the market is another positive. The rally in the domestic market along with Fed's commentary on tapering may have some bearing on the RBI's policy announcement next month."

13:17 (IST)24 Sep 2021
Sensex hits 60,000 in just eight months after scaling 50,000 in January

It took just eight months for the BSE benchmark Sensex to cover the journey from 50,000 in January this year to scale the unprecedented 60,000 mark for the first time on Friday.

The strong bull rally on the Dalal Street has seen the benchmark index rising 10,000 points after hitting the 50,000 mark in intra-day trade on January 21, 2021. Click here to read

12:30 (IST)24 Sep 2021
Market check

Here's how the indices on the BSE were performing during early afternoon.

Source: BSE
11:40 (IST)24 Sep 2021
MARKET QUOTE | Motilal Oswal, MD & CEO, Motilal Oswal Financial Services on Sensex hitting 60,000 landmark

"Equity market today had a historical day with Sensex touching 60,000 for the first time driven by large caps with many index heavyweights touching new highs. The rally in domestic market is driven by positive global cues, strong inflows by FIIs/DIIs, good corporate earnings, falling Covid-19 cases, upbeat corporate commentaries and low cost of capital. Amid the buoyant sentiment and increased activity, valuations has reached elevated levels and demand consistent delivery on earnings expectations. Given rich valuations, one cannot ignore intermittent volatility – however we expect the positive momentum to continue on the back of improving economic activity and recovery in corporate earnings."

11:38 (IST)24 Sep 2021
MARKET QUOTE | Rahul Sharma, Co-founder, Equity99 on Sensex hitting 60,000 landmark

"Market touches new high as Sensex crosses 60k mark in early trades today. Realty & IT leading the rally today. As markets are making new highs every day and reached new highs in a short duration. We advise investors to ride the rally but at the same time keep strict stop losses to their positions considering dicey global clues driven by likely Evergrande crises.

Technical view Nifty 50 – 17,800 will act as support for Nifty on crossing which we might see 17,750 levels. On upper side 17,950 and 18,000 will act as a crucial resistance. Bank Nifty – Support – 37,500 and 37250; Resistance – 38,300, 38,500."

11:33 (IST)24 Sep 2021
MARKET QUOTE | Santosh Meena, Head of Research, Swastika Investmart on Sensex hitting 60,000 landmark

"The roaring bull market is continued in the Indian market with climbing all walls of worries where Sensex has crossed the new milestone of 60,000. We are in a classical bull market like the 2003-2007 phase where this bull run is likely to continue for the next 2-3 years however I will put the word of caution after a parabolic move in lats few days because short term correction can't be ruled out in coming days. Global indices like Dow Jones and Dax are near to their critical resistance and may witness a correction from here. We are in a strong uptrend and outperforming global markets while some mean reversion can be seen in the coming days where rising crude oil prices and surge in US bond yield could cause near-term volatility.

Since the overall view is bullish and Sensex can march towards the 1,00,000 mark in this bull run, therefore, investors are advised to remain invested where any 10-20% correction will be a great buying opportunity. SIP is the best way to ride the current bull run."

11:29 (IST)24 Sep 2021
MARKET QUOTE | Dhiraj Relli, MD & CEO, HDFC Securities on Sensex hitting 60,000 landmark

"Sensex opened gap up on Sept 24 and breached 60,000 in a run away rally. The time taken for the last 10,000 points was much less (246 days vs the previous 10,000 points taking 609 days). Also the time taken for the Sensex to gain the last 5,000 points was just 42 days (vs 204 days for the previous 5,000 points). This shows the impact of return of FPIs and local investors continuing to invest despite headwinds that cropped up time and again. The absence of a 10% correction in the indices over the last 18 months shows the maturity of the local investors but also throws up the possibility of that happening over the next few weeks/months."

11:20 (IST)24 Sep 2021
Rupee falls 13 paise to 73.77 against US dollar in early trade

The Indian rupee depreciated 13 paise to 73.77 against the US dollar in opening trade on Friday, in line with other Asian currencies amid a strong greenback in the overseas market.

At the interbank foreign exchange, the rupee opened on a weak note and fell to 73.77 against the dollar, registering a decline of 13 paise from the last close, even as the domestic equity market was trading with handsome gains.

(PTI)

11:16 (IST)24 Sep 2021
Sansera Engineering debuts at 9% premium over issue price

Shares of Sansera Engineering got listed at a 9 per cent premium above their issue price in the stock exchanges today.

The scrip got listed at Rs 811.50 apiece on the National Stock Exchange (NSE), thereby registering a gain of 9.07 per cent from its offer price of Rs 744.00, while on the BSE, it opened at Rs 811.35, up 9.05 per cent from the issue price. Click here to read

10:22 (IST)24 Sep 2021
Paras Defence IPO subscribed over 304 times on final day led by non institutional investors, QIBs

The initial public offering (IPO) of defence and space engineering products manufacturer Paras Defence and Space Technologies, which was launched earlier this week and got oversubscribed within minutes, was met with a very high demand by the investors.

Paras Defence IPO was subscribed a whopping 304.26 times on the final day, data available on the BSE showed. The Rs 171 crore offer received bids for over 217.26 crore (2,17,26,31,875) shares against the total issue size of 71.40 lakh (71,40,793) shares, the data showed. Click here to read

On Thursday, the benchmark equity indices on the BSE and National Stock Exchange (NSE) had climbed over 1.5 per cent higher to settle at fresh all-time highs led by buying across sectors and in heavyweight stocks such as Reliance Industries (RIL) and the HDFC twins- comprising of HDFC Bank and Housing Development Finance Corporation (HDFC).

The S&P BSE Sensex rose 958.03 points (1.63 per cent) to end at a record closing high of 59,885.36. Earlier in the day, the BSE benchmark had surged 1,029.92 points (1.75 per cent) to breach the 59,900-mark for the very first time and hit a fresh record intraday high of 59,957.25.

Likewise, the Nifty 50 climbed 276.30 points (1.57 per cent) to end at an all-time high of 17,822.95. The NSE barometer had earlier breached the 17,800-mark for the first time ever to touch a record high of 17,843.90.

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