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Friday, September 24, 2021

Market Highlights: Sensex climbs 176 points to end at a record high, Nifty settles above 16,700-mark

Share Market, Stock Market Highlights: The S&P BSE Sensex ended above the 56,000-mark for the first time at 56,124.72, up 175.62 points (0.31 per cent), while the Nifty 50 settled at 16,705.20, up 68.30 points (0.41 per cent).

By: Express Web Desk | New Delhi |
Updated: August 27, 2021 4:02:32 pm
bse, bombay stock exchangeBombay Stock Exchange (BSE) in Dalal Street (Express photo by Nirmal Harindran)

Share/Stock Market Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended over a quarter per cent higher on Friday ahead of Federal Reserve Chair Jerome Powell’s speech due later in the day.

The S&P BSE Sensex ended above the 56,000-mark for the first time at 56,124.72, up 175.62 points (0.31 per cent), while the Nifty 50 settled at 16,705.20, up 68.30 points (0.41 per cent).

Both the benchmark indices had started on a negative note earlier in the day but recovered from their losses and traded positive for the rest of the session. The NSE benchmark touched a new all-time peak of 16,722.05 in intraday trade.

The gains in the Sensex were led by Ultratech Cement, Larsen & Toubro (L&T), Dr. Reddy’s Laboratories, Bajaj Finserv, Sun Pharmaceutical Industries and Tata Consultancy Services (TCS). On the other hand, Infosys, IndusInd Bank, Mahindra & Mahindra (M&M) and Nestle India were among the top laggards of the day.

Among the sectoral indices on NSE, the Nifty Metal index climbed 1.63 per cent led by National Aluminium Company and Hindalco Industries. It was followed by the Nifty Pharma index that rose 1.38 per cent aided by Dr. Reddy’s and Cadila Healthcare. The key Bank Nifty ended 0.03 per cent higher led by Bandhan Bank.

The broader market indices outperformed their benchmark peer with the S&P BSE MidCap ended at 23,255.39, up 240.09 points (1.04 per cent) while the S&P BSE SmallCap settled at 26,284.15, up 241.61 points (0.93 per cent).

(with inputs from agencies)

Live Blog

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

16:02 (IST)27 Aug 2021
MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Friday's market performance

"Indian benchmark indices remained in positive territory even as global markets traded mixed as investors awaited announcements from the Jackson Hole Economic Symposium. Mid and small-cap stocks continued their outperformance while recovery in the Metal and Pharma sectors guided them to be the sectoral leaders. Globally, markets are awaiting comments from the Fed chair on the US economy and clarity on its future policy changes"

16:01 (IST)27 Aug 2021
Rupee at close

Rupee rallies 53 paise to close at 73.69 (provisional) against US dollar.

(PTI)

15:37 (IST)27 Aug 2021
Equity markets at close

The S&P BSE Sensex ended at 56,124.72, up 175.62 points or 0.31 per cent, while the Nifty 50 settled at 16,705.20, up 68.30 points or 0.41 per cent.

15:29 (IST)27 Aug 2021
Silver futures rise on spot demand

Silver prices rose by Rs 205 to Rs 62,928 per kg in the futures trade on Friday, as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for the September delivery gained Rs 205, or 0.33 per cent, to Rs 62,928 per kg in 4,554 lots.

Analysts said the rise in silver prices was mostly due to fresh positions built by participants on a positive domestic trend.

(PTI)

15:25 (IST)27 Aug 2021
Crude oil futures rise on spot demand

Crude oil prices rose Rs 14 to Rs 5,058 per barrel on Friday, as participants widened their positions on a firm spot demand.

On the Multi Commodity Exchange, crude oil for the September delivery traded higher by Rs 14, or 0.28 per cent, at Rs 5,058 per barrel in 5,145 lots.

Analysts said raising of bets by participants kept crude oil prices higher in the futures trade.

(PTI)

15:23 (IST)27 Aug 2021
Gold futures fall on low demand

Gold prices fell Rs 22 to Rs 47,215 per 10 gram in the futures trade on Friday, as speculators reduced their positions amid low demand.

On the Multi Commodity Exchange, gold contracts for the October delivery traded lower by Rs 22, or 0.05 per cent, to Rs 47,215 per 10 gram in a business turnover of 11,425 lots.

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

(PTI)

14:53 (IST)27 Aug 2021
Soybean futures rise on fresh bets

Soybean prices on Friday went up by Rs 94 to Rs 7,795 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 94, or 1.22 per cent, to Rs 7,795 per quintal with an open interest of 18,710 lots.

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

(PTI)

14:52 (IST)27 Aug 2021
Coriander futures rise on spot demand

Coriander prices on Friday rose Rs 20 to Rs 8,210 per quintal in futures trade as speculators widened their holdings tracking firm trend at the spot market.

On the National Commodity and Derivatives Exchange, coriander for September delivery went up Rs 20, or 0.24 per cent, to Rs 8,210 per quintal with an open interest of 6,210 lots.

A firm trend in spot market and restricted supplies from producing regions pushed up coriander prices here, market analysts said.

(PTI)

13:35 (IST)27 Aug 2021
Ami Organics IPO to open on September 1; sets price band at Rs 603-610 per share

Speciality chemicals maker Ami Organics on Friday said it has fixed a price band of Rs 603-610 a share for its Rs 570-crore initial share sale.

The three-day initial public offer (IPO) will open on September 1 and conclude on September 3, the company announced in a virtual press conference. Click here to read the complete report

12:56 (IST)27 Aug 2021
Safe-haven demand buoys gold; investors await Fed chief's speech

Gold prices rose on Friday as an increasingly deteriorating security situation in Afghanistan spurred safe-haven demand, though investors were largely focused on Fed chief Jerome Powell's speech for guidance on stimulus tapering plans.

Spot gold gained 0.3% to $1,798.22 per ounce by 0341 GMT, and was up about 1% for the week. US gold futures rose 0.4% to $1,801.30.

(Reuters)

12:54 (IST)27 Aug 2021
Oil jumps as storm approaches Gulf of Mexico production hub

Oil prices rose on Friday, on track to post big gains for the week, on worries about supply disruptions as energy companies began shutting in production in the Gulf of Mexico ahead of a potential hurricane forecast to hit on the weekend.

Brent crude futures rose 98 cents, or 1.4%, to $72.05 a barrel at 0542 GMT, after falling 1.6% on Thursday. US West Texas Intermediate (WTI) crude futures climbed 93 cents, or 1.4%, to $68.35 a barrel, clawing back a 1.4% loss on Thursday.

(Reuters)

11:40 (IST)27 Aug 2021
Petrol and diesel prices unchanged

Prices of petrol and diesel remained unchanged across the country for the third straight day on Friday, August 27, 2021. Earlier this week on Tuesday, 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 
11:00 (IST)27 Aug 2021
Rupee rises 7 paise to 74.15 against US dollar in early trade

The Indian rupee gained 7 paise to 74.15 against the US dollar in opening trade on Friday, amid a muted trend in the domestic equities. Traders said the domestic unit is trading in a narrow range as investors are awaiting cues from the key speech from US Federal Reserve Chair Jerome Powell.

Moreover, a firm dollar in the overseas markets and rising crude prices weighed on the investor sentiment, forex traders added.

At the interbank foreign exchange, the rupee opened at 74.17 against the dollar, then inched higher to 74.15, up 7 paise over its previous close.

(PTI)

10:30 (IST)27 Aug 2021
NSE sectoral indices in morning trade

Among the sectoral indices on the National Stock Exchange (NSE), the Bank Nifty was trading 0.4 per cent lower, while the Nifty Metal was trading over 1.6 per cent higher. Nifty Pharma was up 1.2 per cent.

Source: NSE
10:22 (IST)27 Aug 2021
BSE Sensex: Gainers and losers in morning trade

On the 30-share BSE benchmark, gains were being led by L&T, Sun Pharma, Tata Steel, Maruti Suzuki, Bharti Airtel, Dr. Reddy's Lab. On the other hand, HDFC, ICICI Bank, IndusInd Bank, Infosys were among the top laggards

Source: BSE
09:51 (IST)27 Aug 2021
Global market check

Asian stock markets were mixed Friday as investors awaited more guidance on the US Federal Reserve's easing plans. 

The moves in Asia follow a pullback on Wall Street after the deadly attacks on Afghan civilians and US troops at the Kabul airport on Thursday.

Tokyo's Nikkei 225 lost 0.3 per cent to 27,651.51 while the Kospi in South Korea added 0.3 per cent to 3,139.00. The Hang Seng in Hong Kong was 0.6 per cent higher at 25,559.56. 

The Shanghai Composite advanced 0.4 per cent to 3,516.13. Sydney's S&P/ASX 200 fell 0.1 per cent to 7,480.80. Benchmarks in Malaysia, Thailand and Indonesia rose while Singapore slipped. 

Fed Chair Jerome Powell is scheduled to speak at the central bank's annual symposium in Jackson Hole, Wyoming, later Friday. Any indicators when the bank will start scaling back on asset purchases will be watched.

(AP)

09:39 (IST)27 Aug 2021
Equity markets at open

Sensex drops 96.18 pts to 55,852.92 in opening session; Nifty declines 23.70 pts to 16,613.20.

(PTI)

The benchmark equity indices on the BSE and National Stock Exchange (NSE) had ended flat for the second consecutive day on Thursday amid the expiry of August-series futures and options contracts.

The S&P BSE Sensex ended at 55,949.10, up 4.89 points (0.01 per cent), while the Nifty 50 settled at 16,636.90, up 2.25 points (0.01 per cent).

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