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Monday, September 27, 2021

Market Highlights: Sensex surges 277 points to settle above 58,000 for the first time; RIL surges over 4%

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at a fresh lifetime high of 58,129.95, up 277.41 points (0.48 per cent), while the Nifty 50 settled at an all-time high of 17,323.60, up 89.45 points (0.52 per cent).

By: Express Web Desk | New Delhi |
Updated: September 3, 2021 5:16:56 pm
BSE in Mumbai. (Express photo by Ganesh Shirsekar)

Share/Stock Market Highlights: The frontline equity indices on the BSE and National Stock Exchange (NSE) surged 0.5 per cent higher to settle at fresh record highs on Friday led by gains in market heavyweight Reliance Industries (RIL).

The S&P BSE Sensex rose 277.41 points (0.48 per cent) to end above the 58,000-mark at a record closing high of 58,129.95. Earlier in the day, the BSE benchmark had surged 342.25 points (0.59 per cent) to surge past the 58,000 level mark for the first time ever and hit a fresh record intraday high of 58,194.79.

Likewise, the Nifty 50 climbed 89.45 points (0.52 per cent) to end at an all-time high of 17,323.60. The NSE barometer had earlier breached the 17,300-mark for the first time ever to touch a record high of 17,340.10.

RIL was the best performer of the day on the Sensex pack closing at over 4 per cent. Earlier in the day, the oil-to-telecom behemoth hit an all-time intraday high of Rs 2,394.30 on the BSE. It was followed by Titan Company, Tata Steel, Bajaj Auto, Maruti Suzuki India and Dr. Reddy’s Laboratories. On the other hand, Hindustan Unilever (HUL), Bharti Airtel, HDFC Bank, Housing Development Finance Corporation (HDFC), IndusInd Bank and Axis Bank were the top laggards.

In the broader market, the S&P BSE MidCap index ended at 24,382.19, up 84.68 points (0.35 per cent), while the S&P BSE SmallCap settled at 27,305.31, up 110.19 points (0.41 per cent).

(with inputs from agencies)

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

16:12 (IST)03 Sep 2021
Rupee settles 4 paise higher at 73.02 against US dollar

The Indian rupee settled with a marginal gain of 4 paise at 73.02 (provisional) against the US dollar on Friday, even as the domestic equities continued their record-setting spree.

At the interbank forex market, the local unit opened at 73.05 against the greenback and witnessed an intra-day high of 73.01 and a low of 73.15.

It finally ended at 73.02 against the American currency, registering a gain of just 4 paise over its previous close.


15:38 (IST)03 Sep 2021
Equity markets at close

The S&P BSE Sensex ended at 58,129.95, up 277.41 points or 0.48 per cent, while the Nifty 50 settled at 17,323.60, up 89.45 points or 0.52 per cent.

14:46 (IST)03 Sep 2021
Exide Industries shares surge 15% on announcement of insurance biz sale to HDFC Life

Shares of Exide Industries surged 15 per cent on Friday after HDFC Life Insurance announced that it will acquire Exide Life Insurance for Rs 6,687 crore.

The scrip surged 14.98 per cent to Rs 204.90 apiece on the National Stock Exchange (NSE), while on the BSE it jumped 13.86 per cent to Rs 202.95 per share.

Earlier in the day, HDFC Life informed the stock exchanges that it will acquire 100 per cent of the share capital of Exide Life Insurance for a total consideration of Rs 6,687 crore. of which Rs 725,97,77,930 will be payable in cash and the balance by way of issue 8,70,22,222 equity shares of face value of Rs 10 of the Company issued at a price of Rs 685 per share to Exide Industries. Click here to read

14:08 (IST)03 Sep 2021
Reliance aims at 100 GW renewable energy by 2030, bring hydrogen cost under $1: Mukesh Ambani

Reliance Industries will by 2030 create or enable capacity to generate at least 100 gigawatts of electricity from renewable sources, which can be converted into carbon-free green hydrogen, its chairman Mukesh Ambani said Friday as he outlined a 1-1-1 vision to bring down the cost of hydrogen to under USD 1 per 1 kg in 1 decade.

The focus on generating electricity from renewable sources of energy such as solar and wind -will help cut carbon emissions in the world’s third-largest greenhouse gas emitter. Click here to read the complete report

13:14 (IST)03 Sep 2021
Indian services activity rebounds at fastest pace in 18 months in August amid rising business orders

India’s services sector expanded in August at the fastest pace in one-and-a-half years amid strong inflows of new work and improved demand conditions, a monthly survey said on Friday.

The seasonally adjusted India Services Business Activity Index rose from 45.4 in July to 56.7 in August, as the reopening of several establishments and increased consumer footfall boosted sales.

The services sector witnessed the first expansion in output in four months and a rebound in business confidence. In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction. Click here to read

12:19 (IST)03 Sep 2021
Oil prices mixed ahead of US jobs report, more gains eyed

Oil prices were mixed on Friday after a strong rise in the previous session on a weaker dollar and a fall in U.S. crude stocks and were set for modest weekly gains ahead of a highly anticipated U.S. monthly jobs report.

Brent crude futures were up 13 cents, or 0.2%, to $73.16 a barrel at 0619 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1%, at $69.95 a barrel.


11:01 (IST)03 Sep 2021
HDFC Life to acquire Exide Life Insurance for Rs 6,687 crore

Private life insurer HDFC Life Insurance Friday said it will acquire Exide Life Insurance from Exide Industries in a deal worth Rs 6,687 crore.

“The board of directors of HDFC Life Insurance Company (HDFC Life), Exide Industries and Exide Life Insurance Company… approved the transaction involving the sale of Exide Life Insurance to HDFC Life,” HDFC Life said in a release. Click here to read

10:58 (IST)03 Sep 2021
Rupee inches 3 paise higher to 73.03 against US dollar in early trade

The Indian rupee inched higher by 2 paise to 73.03 against the US dollar in opening trade on Friday, despite a sustained rally in domestic equities.

Forex traders said the local unit is trading in a narrow range as strengthening crude oil prices and dollar demand is offsetting the impact of upbeat domestic equities.

At the interbank foreign exchange, the rupee opened at 73.05 against the dollar, then surged higher to 73.03, up 3 paise over its previous close.


10:04 (IST)03 Sep 2021
News Alert |  HDFC Life to acquire Exide Life Insurance

HDFC Life Insurance said it will acquire Exide Life Insurance for a total consideration of Rs 6,687 crore.

The completion of the acquisition is subject to customary conditions such as receipt of all regulatory and other approvals, HDFC Life said.

Source: HDFC Life Insurance's BSE filing

09:58 (IST)03 Sep 2021
Global market update

Asian shares held their gains on Friday while the dollar was at a month low against major peers as traders awaited U.S. employment data with global shares at record highs.

MSCI's broadest index of Asia-Pacific shares outside Japan was broadly flat in early trading in Asia having posted gains in eight of the last nine sessions as the benchmark edges back towards its position in mid July before Chinese regulatory crackdowns sent shares tumbling.

Japan's Nikkei rose 0.38%, and MSCI's all-country world index edged higher having ended the previous session at its fifth consecutive closing high.

Australia was up 0.3% and Korea rose 0.61% while Chinese blue chips fell 0.27% and Hong Kong dropped 0.6% right after the bell, as traders try to balance weaker economic data out of China against the potential for future stimulus.


09:46 (IST)03 Sep 2021
Equity markets at open

Sensex jumps 187.78 pts to lifetime peak of 58,040.32 in opening session; Nifty surges 66.20 pts to record 17,300.35.


Thursday, the topline equity indices on the BSE and National Stock Exchange (NSE) surged nearly 1 per cent higher to settle at fresh record highs led by information technology (IT), fast moving consumer goods (FMCG) and pharmaceutical stocks.

The S&P BSE Sensex jumped 514.33 points (0.90 per cent) to end at a fresh record closing high of 57,852.54. Likewise, the Nifty 50 climbed 157.90 points (0.92 per cent) to end at an all-time high of 17,234.15. The NSE barometer had earlier in the day touched a record high of 17,245.50.

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