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Sunday, October 24, 2021

Market Highlights: Sensex ends above 59,000 for the first time, Nifty settles at fresh lifetime high

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at a fresh lifetime high of 59,141.16, up 417.96 points (0.71 per cent), while the Nifty 50 settled at an all-time high of 17,629.50, up 110.05 points (0.63 per cent).

By: Express Web Desk | New Delhi |
Updated: September 16, 2021 5:51:22 pm
sensex, sensex share price, s&p bse sensexBSE (Bombay Stock Exchange) at Dalal street. (Express photo by Nirmal Harindran)

Share/Stock Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) climbed over 0.5 per cent higher to end at fresh record highs on Thursday led by gains in banking, financial and fast-moving consumer goods (FMCG) stocks.

The S&P BSE Sensex rose 417.96 points (0.63 per cent) to end above the 59,000 mark for the first time at a record closing high of 59,141.16. Earlier in the day, the BSE benchmark had surged 481.09 points (0.82 per cent) to breach the 59,000-mark for the very first time and hit a fresh record intraday high of 59,204.29.

Likewise, the Nifty 50 climbed 110.05 points (0.63 per cent) to end at an all-time high of 17,629.50. The NSE barometer had earlier breached the 17,600-mark for the first time ever to touch a record high of 17,644.60.

IndusInd Bank was the top gainer of the day on the Sensex pack surging over 7 per cent. It was followed by ITC, State Bank of India (SBI), Reliance Industries (RIL), Kotak Mahindra Bank and ICICI Bank. Among laggards were Tata Consultancy Services (TCS), Tata Steel, Tech Mahindra, Bharti Airtel, HCL Technologies and Dr. Reddy’s Laboratories.

Among the sectoral indices on NSE, the Nifty Bank index gained 2.22 per cent on Thursday led by Punjab National Bank, IndusInd Bank and SBI. The Nifty Financial Services index rose 1.09 per cent aided by Cholamandalam Investment and Finance Company and Shriram Transport Finance Company. The Nifty FMCG index too inched up 1.24 per cent led by ITC and Procter & Gamble Hygiene and Health Care.

In the broader market, the S&P BSE MidCap ended at 25,336.56, up 120.60 points (0.48 per cent) while the S&P BSE SmallCap settled at 28,306.05, up 21.98 points (0.08 per cent). The volatility index or India VIX rose 4.97 per cent to 14.4125.

(with inputs from agencies)

Live Blog

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

16:24 (IST)16 Sep 2021
MARKET QUOTE | Jateen Trivedi, Senior Research Analyst, LKP Securities on Rupee's performance

"Rupee traded in range as dollar index strength kept prices weak but a powerful banking sector rally in capital markets pushed fund inflows ahead of the Finance minister statement later in evening. Range for rupee can be seen between 73.30-73.70 in session ahead."

16:22 (IST)16 Sep 2021
MARKET QUOTE | Vinod Nair, Head Of Research, Geojit Financial Services on Thursday's market performance

"Driven by reforms, the Indian market kept raising its bar and traded to new record highs. Today’s market rally was driven by strong buying in Banking stocks especially in PSBs.  The banking sector is expected to perform well in the coming days as the sector which failed to fairly participate in the ongoing rally due to fear over asset quality is gaining traction. Asian markets traded with cuts as the fall in Chinese property stocks pushed Asian stocks down while European markets traded with positive sentiments."

16:17 (IST)16 Sep 2021
Rupee slips 2 paise to close at 73.52 against US dollar

The rupee slipped 2 paise to close at 73.52 (provisional) against the US currency on Thursday, tracking the strengthening of the greenback in the overseas markets.


15:50 (IST)16 Sep 2021
Equity markets at close

The S&P BSE Sensex ended at 59,141.16, up 417.96 points or 0.71 per cent, while the Nifty 50 settled at 17,629.50, up 110.05 points or 0.63 per cent.

15:24 (IST)16 Sep 2021
Crude oil futures dip on weak spot demand

Crude oil prices on Thursday fell Rs 5 to Rs 5,330 per barrel after participants cut their positions.

On the Multi Commodity Exchange, crude oil for the September delivery dropped by Rs 5, or 0.09 per cent, to Rs 5,330 per barrel with a business volume of 3,997 lots.

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

Globally, West Texas Intermediate crude oil was trading 0.25 per cent lower at USD 72.43 per barrel.

Meanwhile, Brent crude, the international benchmark, fell 0.20 per cent to trade at USD 75.31 per barrel in New York.


15:23 (IST)16 Sep 2021
Gold futures fall on low demand

Gold prices fell Rs 236 to Rs 46,660 per 10 gram in the futures trade on Thursday, as speculators reduced their positions amid low demand.

On the Multi Commodity Exchange, gold contracts for October traded lower by Rs 236, or 0.5 per cent, to Rs 46,660 per 10 grams in a business turnover of 8,540 lots.

Analysts attributed the fall in gold prices to trimming of positions by participants.

Globally, gold traded 0.49 per cent lower to USD 1,786 an ounce in New York.


15:22 (IST)16 Sep 2021
Copper futures fall on weak demand

Copper futures on Thursday slipped 1.74 per cent to Rs 722.25 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 12.80, or 1.74 per cent, to Rs 722.25 per kg in a business turnover of 3,827 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.


12:47 (IST)16 Sep 2021
Poonawalla Fincorp shares tank 5% as Sebi bars MD, 7 others in ‘insider trading case’

Shares of Poonawalla Fincorp were locked in the lower circuit of 5 per cent in the morning deals on Thursday a day after market regulator Sebi barred eight persons, including the company’s Managing Director Abhay Bhutada, from the markets and also impounded Rs 13.58 crore from their bank accounts to the extent of their respective liability in an insider trading case.

The scrip was locked at Rs 172.15 on the BSE and at Rs 171.90 on the National Stock Exchange (NSE), both down by 5 per cent each. Click here to read

11:41 (IST)16 Sep 2021
Petrol and diesel prices unchanged

Prices of petrol and diesel remained steady across the country for the 11th successive day on Thursday, September 16, 2021. The prices of the key 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.

The price of petrol in Delhi stands at Rs 101.19 per litre while that of diesel is at Rs 88.62. In Mumbai, petrol currently costs Rs 107.26, while diesel is retailing at Rs 96.19, data available on Indian Oil Corporation’s website showed. Click here to read

10:43 (IST)16 Sep 2021
Rupee inches 5 paise higher at 73.45 against US dollar in early trade

The Indian rupee inched higher by 5 paise to 73.45 against the US dollar in opening trade on Thursday, tracking a firm trend in domestic equities.

Forex traders said the broad weakness of the American currency in the overseas market and sustained foreign fund inflows supported the local unit, while high crude oil prices restricted the gains.

At the interbank foreign exchange, the rupee opened at 73.51 against the dollar, then inched higher to 73.45, up 5 paise over its previous close.


10:37 (IST)16 Sep 2021
Sebi bars Poonawalla Fincorp MD, 7 others in ‘insider trading case’

The Securities and Exchange Board of India (Sebi) has barred eight persons, including Poonawalla Fincorp Ltd (formerly Magma Fincorp Ltd) Managing Director Abhay Bhutada, from the markets and also impounded Rs 13.58 crore from the bank accounts of the eight persons to the extent of their respective liability in an insider trading case.

The eight persons are: Abhay Bhutada, Saumil Shah, Surabhi Kishore Shah, Amit Agrawal, Murlidhar Bagranglal Agrawal, Rakesh Rajendra Bhojgadhiya, Rakesh Rajendra Bhojgadhiya and Abhijit Pawar. Click here to read

09:54 (IST)16 Sep 2021
Global market update

Stocks were mostly lower in Asia on Thursday after Japan and China released data that were weaker than expected. Shares fell in Tokyo, Shanghai, Hong Kong and Seoul but rose in Sydney.

Tokyo's Nikkei 225 index dropped 0.6 per cent to 30,332.64 while the Hang Seng in Hong Kong declined 0.8 per cent to 24,825.58. The Shanghai Composite index gave up 0.2 per cent to 3,649.88 and the Kospi in Seoul lost 0.5 per cent to 3,136.27. Australia's S&P/ASX 200 gained 0.7 per cent to 7,468.20. Shares fell in Taiwan but rose in Singapore and Jakarta. 

On Wednesday, energy and technology companies helped lift stocks on Wall Street broadly higher, reversing the market's pullback from a day earlier. The S&P 500 rose 0.8 per cent to 4,480.70 after another day of choppy trading. It was the biggest daily gain for the benchmark index since late August and it put the S&P 500 on pace to close the week higher. The Dow Jones Industrial Average gained 0.7 per cent to 34,814.39. The Nasdaq composite added 0.8 per cent to 15,161.53. 


09:46 (IST)16 Sep 2021
Equity markets at open

Sensex jumps 152.58 pts to hit new lifetime high of 58,875.78 in opening session; Nifty surges 50.30 pts to record 17,569.75.


On Wednesday, the benchmark indices on the BSE and National Stock Exchange had gained 0.8 per cent to end at record highs aided by telecom and auto stocks which saw a rally after the government announced packages for the sectors.

The S&P BSE Sensex surged 476.11 points (0.82 per cent) to end at a record closing high of 58,723.20. During the day, the BSE benchmark had touched a lifetime high of 58,777.06. Likewise, the Nifty 50 climbed 139.45 points (0.80 per cent) to settle at an all-time high of 17,519.45. In the intraday trade, the 50-share frontliner had breached the 17,500-mark for the first time ever and hit a record high of 17,532.70.

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