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Wednesday, September 29, 2021

Market Highlights: Sensex and Nifty end flat for second straight day; broader markets outperform

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 58,250.26, down 29.22 points (0.05 per cent), while the Nifty 50 settled at 17,353.50, down 8.60 points (0.05 per cent).

By: Express Web Desk | New Delhi |
Updated: September 8, 2021 4:25:57 pm
sensex, sensex share price, s&p bse sensexBSE (Bombay Stock Exchange) at Dalal street. (Express photo by Nirmal Harindran)

Share/Stock Market Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended flat for the second consecutive day on Wednesday amid mild weakness in global markets.

The S&P BSE Sensex slipped 29.22 points (0.05 per cent) to end at 58,250.26, while the Nifty 50 settled at 17,353.50, down 8.60 points (0.05 per cent). Both the indices had opened on a flat note earlier in the day and moved in a range throughout most of the day.

On the Sensex pack, Nestle India, Maruti Suzuki India, Bajaj Finserv, Bajaj Auto, Tata Consultancy Services (TCS) and Larsen & Toubro (L&T) were the top laggards of the day. On the other hand, Kotak Mahindra Bank, Titan Company, NTPC, Sun Pharmaceutical Industries, Axis Bank and Hindustan Unilever (HUL) were the top gainers.

The broader market indices however outperformed their benchmark peers with the S&P BSE MidCap index ending at 24,567.08, up 198.25 points (0.81 per cent) and the S&P BSE SmallCap settling at 27,501.28, up 151.25 points (0.55 per cent).

Among the sectoral indices, the Nifty Bank was the top gainer of the day rising 0.82 per cent led by Kotak Mahindra Bank and The Federal Bank. On the other hand, the Nifty IT index was the worst performer slipping 0.78 per cent weighed by Wipro and MindTree.

(with inputs from agencies)

Live Blog

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

16:25 (IST)08 Sep 2021
MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Wednesday's market performance

"Domestic market opened on a flattish note while the cautious trend in the global market forced Indian equities to trade lower amid lingering concerns over rising covid cases and slowing economic recovery. However, supported by a recovery in broader markets the key indices ended on a flat note. The cabinet’s approval of the PLI scheme for man-made fibres and technical textiles will help in improving the industry's outlook."

15:45 (IST)08 Sep 2021
Equity markets at close

The S&P BSE Sensex ended at 58,250.26, down 29.22 points or 0.05 per cent, while the Nifty 50 settled at 17,353.50, down 8.60 points or 0.05 per cent.

15:13 (IST)08 Sep 2021
Govt hikes wheat MSP by Rs 40 to Rs 2,015 per quintal for 2021-22 crop year

The government on Wednesday hiked the minimum support price for wheat by Rs 40 to Rs 2,015 per quintal and for mustard seed by Rs  400 to Rs 5,050 per quintal for the current crop year.

A decision in this regard was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi.

MSP (Minimum Support Price) is the rate at which the government buys the grain from farmers. Currently, the government fixes MSPs for 23 crops grown in both kharif and rabi seasons.

(PTI)

15:04 (IST)08 Sep 2021
Govt approves Rs 10,683 crore PLI scheme for textiles

The cabinet on Wednesday approved the production-linked incentive (PLI) scheme worth Rs 10,683 crore for textiles sector with an aim to boost domestic manufacturing and exports, Union Minister Anurag Thakur said.

The decision was taken in a meeting which was chaired by Prime Minister Narendra Modi here. Click here to read

14:27 (IST)08 Sep 2021
NEWS ALERT | Cabinet approves PLI scheme for Textiles

Union Minister Piyush Goyal said that the PLI scheme for Textiles will especially positively impact states such as Gujarat, Uttar Pradesh, Maharashtra, Tamil Nadu, Punjab, Andhra Pradesh, Telangana, Odisha etc.

14:26 (IST)08 Sep 2021
NEWS ALERT | Cabinet approves PLI scheme for Textiles

Cabinet has approved the production linked incentive (PLI) scheme for Textiles. Incentives worth Rs 10,683 crore to be provided over 5 years

13:04 (IST)08 Sep 2021
Petrol and diesel prices unchanged for third straight day

Petrol and diesel prices were steady across the country for the third consecutive day on Wednesday, September 8, 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

11:49 (IST)08 Sep 2021
IPO-bound OYO increases authorised share capital to Rs 901 crore

Oravel Stays Pvt Ltd, that operates hospitality firm OYO, has approved an increase in the authorised share capital of the company from Rs 1.17 crore to Rs 901 crore, according to a regulatory filing by the hospitality firm.

The development comes ahead of proposed initial public offering (IPO) by OYO, for which a draft red herring prospectus (DRHP) is likely to be filed in the next few months, sources in know of the matter told PTI. Click here to read

11:31 (IST)08 Sep 2021
Will take balanced approach on changes to consumer protection rules for e-commerce: Govt

The Centre will take a “balanced” approach while finalising the proposed amendments to Consumer Protection (E-Commerce) Rules, 2020, Consumer Affairs Secretary Leena Nandan said on Tuesday.

Speaking to reporters, Nandan said, “We have received a lot of suggestions and views… now, taking them into account, we will come out with whatever is the best formulation from the consumer’s perspective.” Click here to read

10:59 (IST)08 Sep 2021
Rupee plunges 23 paise to 73.65 against US dollar in early trade

The Indian rupee plunged 23 paise to 73.65 against the US dollar in opening trade on Wednesday, tracking a strong American currency and muted trend in domestic equities.

At the interbank foreign exchange, the rupee opened at 73.48 against the dollar, then fell to 73.65, registering a decline of 23 paise from the last close.

(PTI)

10:18 (IST)08 Sep 2021
How to check Vijaya Diagnostic IPO allotment status

The initial public offering (IPO) of Vijaya Diagnostic Centre was subscribed 4.54 times over the 2.50 crore shares that were on offer during the subscription period from September 1-3, 2021. The price band was fixed at Rs 522-531 per share.

The company is expected to finalise the allotment today, September 8, 2021, as per the timeline provided in the red herring prospectus (RHP). Here is how you can check the status of your allotment

10:14 (IST)08 Sep 2021
How to check Ami Organics IPO allotment status

The initial public offering (IPO) of specialty chemicals maker Ami Organics was subscribed 64.54 times over the 65.42 lakh shares that were on offer during the subscription period from September 1-3, 2021. The price band was fixed at Rs 603-610 per share.

Investors are now looking forward to the share allotment date of the Ami Organics IPO. The company is supposed to finalise the allotment today, September 8, 2021, as per the timeline provided in the red herring prospectus (RHP). Here is how you can check the status of your allotment when it gets declared.

10:09 (IST)08 Sep 2021
Global market update

Asian shares hovered just off six-week highs on Wednesday, as a more risk-averse mood spread into the market from the United States overnight due to worries about slowing growth that hurt equities while helping the dollar firm.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.13% having posted gains, if sometimes small, for 11 of the last 12 sessions.

Japan's Nikkei reversed early losses and was last 0.42% higher after revised gross domestic product growth figures beat expectations for the world's third-biggest economy.

Most other moves were muted in early trading. Australia slipped 0.32%, Chinese blue chips fell 0.04%, and the Hong Kong benchmark gained 0.12%.

(Reuters)

09:51 (IST)08 Sep 2021
Equity markets at open

Sensex rises 64.51 pts to 58,343.99 in opening session; Nifty advances 13.45 pts to 17,375.55.

(PTI)

On Tuesday, the topline equity indices on the BSE and National Stock Exchange (NSE) had ended on a flat note with marginal losses following profit booking at higher levels amid weak cues from European markets.

The S&P BSE Sensex slipped 17.43 points (0.03 per cent) to end at 58,279.48, while the Nifty 50 settled at 17,362.10, down 15.70 points (0.09 per cent). Both the indices had opened on a flat note earlier in the day and moved in a range throughout the day.

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