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Monday, September 20, 2021

Market Highlights: Sensex surges 663 points, Nifty settles above 17,100-mark

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 57,552.39, up 662.63 points (1.16 per cent), while the Nifty 50 settled above the 17,000-mark for the first time at 17,132.20, up 201.15 points (1.19 per cent).

By: Express Web Desk | New Delhi |
Updated: August 31, 2021 4:14:28 pm
BSE in Mumbai. (Express photo by Ganesh Shirsekar)

Share/Stock Market Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) surged over 1 per cent to settle at their fresh record highs on Tuesday led by gains in metals, information technology (IT) and pharmaceutical stocks.

The S&P BSE Sensex jumped 662.63 points (1.16 per cent) to end at a fresh record closing high of 57,552.39. During the day, the BSE benchmark had breched the 57,000 level mark for the first time ever and rallied to an intraday lifetime high of 57,625.26.

Likewise, the Nifty 50 climbed 201.15 points (1.19 per cent) to end at an all-time high of 17,132.20. The NSE barometer had earlier breached the 17,000-mark for the first time ever to touch a record high of 17,153.50.

Bharti Airtel was the top gainer of the day on the Sensex pack surging 7 per cent, followed by Bajaj twins – Bajaj Finance and Bajaj Finserv, Asian Paints, Titan Company and Tata Consultancy Services (TCS). On the other hand, Nestle India, IndusInd Bank and Reliance Industries (RIL) were the laggards.

Among the sectoral indices on NSE, the Nifty Metal index surged 1.54 per cent led by Hindalco Industries and Adani Enterprises. The Nifty IT index climbed 1.35 per cent aided by TCS and Tech Mahindra. The Nifty Pharma index rose 0.86 per cent led by Aurobindo Pharma and Cipla.

In the broader market, the S&P BSE MidCap index ended at 23,853.43, up 197.05 points (0.83 per cent) while the S&P BSE SmallCap settled at 26,919.94, up 229.66 points (0.86 per cent).

Going ahead, market participants will look forward to the GDP data for the first quarter (Q1) of the ongoing financial year 2021-22 (FY22) to be released later this evening.

(with inputs from agencies)

Live Blog

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

16:14 (IST)31 Aug 2021
MARKET QUOTE | Deepak Jasani, Head of Retail Research, HDFC Securities on Tuesday's market performance

"Nifty gained for the third consecutive day on Aug 31 and closed above 17000 for the first time ever. Nifty opened mildly higher and made an intraday low within first 30 minutes of trade. It later kept inching up gradually through the day to end almost at the intraday high. Late recovery in Asian markets also helped Nifty to rise further. At close, the Nifty was 201 points or 1.19% higher at 17132.

On a day of large month-end volumes on the NSE, none of the sectors ended in the negative while Telecom, Consumer Durables, IT and Metals were the main gainers. Broad market indices underperformed with a gain of ~0.5% each.

Stock markets set new record highs on Tuesday as investors ended August in a buoyant mood, confident of an ongoing economic recovery and that the Federal Reserve's eventual paring back of its stimulus would not knock asset prices anytime soon. European stocks edged higher on Tuesday, on track for their seventh straight month of gains.

Nifty sliced through 17,000 without much effort. A flat advance-decline ratio on such a day denotes traders flocking to large caps and taking profits out of mid and small caps. Nifty could now face resistance at 17,250 while 16,951 could provide support."

16:10 (IST)31 Aug 2021
MARKET QUOTE | S Ranganathan, Head of Research, LKP Securities on Tuesday's market performance

"Bulls went on a rampage to notch up the fastest 1,000 point rise in the Nifty this month to cross 17k with ease. FMCG & IT biggies together with the Wireless & Bajaj Twins made it look effortless ahead of the Q1 GDP numbers today. Metal stocks too lent good support as Indices soared over a percentage in late afternoon trade today as the street awaits the 4W Auto numbers tomorrow with optimism."

16:09 (IST)31 Aug 2021
MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Tuesday's market performance

"Led by bulls, domestic indices breached record highs amid broad-based buying due to continuation of Fed’s dovish policy and the expected release of domestic GDP data. Many business activities have rebound to pre-covid levels, the RBI had forecast June quarter GDP to grow at 21.6 per cent on a YoY basis."

16:01 (IST)31 Aug 2021
Rupee at close

Rupee rallies 29 paise to close at 73.00 (provisional) against US dollar.


15:34 (IST)31 Aug 2021
Equity markets at close

The S&P BSE Sensex ended at 57,552.39, up 662.63 points or 1.16 per cent, while the Nifty 50 settled at 17,132.20, up 201.15 points or 1.19 per cent.

15:07 (IST)31 Aug 2021
Crude oil futures dip on weak spot demand

Crude oil prices on Tuesday fell by Rs 61 to Rs 5,010 per barrel after participants cut their positions.

On the Multi Commodity Exchange, crude oil for September delivery dropped by Rs 61, or 1.2 per cent, to Rs 5,010 per barrel with a business volume of 4,204 lots.

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


14:14 (IST)31 Aug 2021
Soybean futures rise on fresh bets

Soybean prices on Tuesday went up by Rs 47 to Rs 8,040 per quintal in futures market as traders created fresh positions tracking positive spot demand.

On the National Commodity and Derivatives Exchange, soybean for September delivery rose by Rs 47, or 0.59 per cent, to Rs 8,040 per quintal with an open interest of 16,735 lots.

Marketmen said raising of fresh positions by speculators on the back of higher demand mainly led to rise in soybean prices.


13:34 (IST)31 Aug 2021
Gold gains as dollar weakens

Gold rose on Tuesday, bolstered by a sluggish dollar, with investors now looking to US non-farm payrolls data which could be the key to the Federal Reserve's stimulus-taper decision.

Spot gold climbed 0.5% to $1,818.46 per ounce by 0636 GMT, edging closer to the 3-1/2-week high hit on Monday. Prices were up 0.2% for the month. US gold futures rose 0.5% to $1,820.40.


12:45 (IST)31 Aug 2021
Nifty hits 17,000 for the first time ever

The Nifty 50 hit an all-time high breaching the 17,000 level mark for the first time ever. The benchmark index has surged over 1,000 points this month. It had surged past the 16,000 level mark on August 3.

Source: NSE
12:05 (IST)31 Aug 2021
Market check at noon

Here's how the key indices on the BSE were performing:

Source: BSE
11:21 (IST)31 Aug 2021
Petrol and diesel prices unchanged

Petrol and diesel prices were steady across the country for the seventh consecutive day on Tuesday, August 31, 2021. The prices of the key auto fuels were last revised on August 24 when petrol and diesel prices were cut by 15 paise per litre each in the national capital.

The price of petrol in Delhi stands at Rs 101.49 per litre while that of diesel is at Rs 88.92. In Mumbai, petrol currently costs Rs 107.52, while diesel is retailing at Rs 96.48, data available on Indian Oil Corporation’s website showed. Click here to read the full report

City Petrol (Rs/litre) Diesel (Rs/litre)
New Delhi 101.49 88.92
Mumbai 107.52 96.48
Kolkata 101.82 91.98
Chennai 99.20 93.52
Bengaluru 104.98 94.34
Hyderabad 105.54 96.99
Patna 103.99 94.75
Bhopal 109.91 97.72
Jaipur 108.42 98.06
Lucknow 98.56 89.29
Thiruvananthapuram 103.69 95.68
Source: Indian Oil Corporation 
10:48 (IST)31 Aug 2021
Rupee inches 4 paise higher to 73.25 against US dollar in early trade

The Indian rupee appreciated 4 paise to 73.25 against the US dollar in opening trade on Tuesday, tracking a positive trend in domestic equities.

At the interbank foreign exchange, the rupee opened at 73.26 against the dollar, then inched higher to 73.25, up 4 paise over its previous close.


10:31 (IST)31 Aug 2021
Oil falls as US refiners shut down by damage from Hurricane Ida

Oil prices fell on Tuesday on concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to raise output.

US West Texas Intermediate (WTI) crude futures were down 41 cents, or 0.6%, to $68.80 a barrel at 0245 GMT, reversing most of Monday's gains. Brent crude futures for October, due to expire on Tuesday, were down 46 cents, or 0.6%, at $72.95 a barrel, after gaining nearly 1% on Monday.


10:02 (IST)31 Aug 2021
NSE sectoral indices in early trade

Among the sectoral indices on the National Stock Exchange (NSE), the Nifty IT was trading over 0.6 per cent higher while the Nifty Auto was down around 0.5 per cent. The Bank NIfty was trading a tad lower.

Source: NSE
09:59 (IST)31 Aug 2021
BSE Sensex: Gainers and losers in early trade

On the 30-share BSE benchmark, gains were being led by Bharti Airtel, HCL Tech, Asian Paints, Bajaj Finance, Tech Mahindra and Kotak Mahindra Bank.

Source: BSE
09:53 (IST)31 Aug 2021
Global market check

Asia stock markets opened lower on Tuesday despite fresh all-time highs on Wall Street, as worries about China's slowing economic growth and regulatory changes weighed on investor sentiment.

MSCI's gauge of Asia Pacific stocks outside Japan slipped 0.25%, while Japan's Nikkei 225 fell more than 0.3% in the morning session.

Hong Kong's Hang Seng Index and China's benchmark CSI300 Index opened down 0.1% and 0.2% respectively.

Australian shares, however, rose slightly for a second straight session, led by mining and technology stocks. The S&P/ASX 200 was up 0.2% by 0130GMT.


09:42 (IST)31 Aug 2021
Equity markets at open

Sensex jumps 115.53 pts to fresh lifetime high of 57,005.29 in early trade; Nifty advances 24.15 pts to 16,955.20.


On Monday, the benchmark equity indices on the BSE and NSE had surged over 1 per cent to end at fresh record highs amid positive cues in the global market.

The S&P BSE Sensex had surged 765.04 points (1.36 per cent) to end at a record closing high of 56,889.76. During the day, the BSE benchmark had rallied to an intraday lifetime high of 56,958.27.

Likewise, the Nifty 50 had climbed 225.85 points (1.35 per cent) to end at an all-time high of 16,931.05. The NSE barometer had earlier breached the 16,900-mark for the first time ever to touch a record high of 16,951.50.

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