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Tuesday, September 28, 2021

Market Highlights: Sensex surges 765 points, Nifty settles above 16,900-mark

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 56,889.76, up 765.04 points (1.36 per cent), while the Nifty 50 settled above the 16,900-mark for the first time at 16,931.05, up 225.85 points (1.35 per cent).

By: Express Web Desk | New Delhi |
Updated: August 30, 2021 4:05:59 pm
Bombay Stock Exchange building. (Express archive photo)

Share/Stock Market Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) surged over 1 per cent to end at fresh record highs on Monday amid positive cues in the global market.

The S&P BSE Sensex 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 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.

Both the benchmarks had opened at record highs earlier in the day and extended their gains as the day progressed.

The gains in the BSE benchmark on Monday were led by Bharti Airtel, Tata Steel, Axis Bank, Titan Company, Maruti Suzuki India and Bajaj Finance. On the other hand, Tech Mahindra, Nestle India, Infosys and Tata Consultancy Services (TCS) were the laggards.

Among the sectoral indices on NSE, the Nifty Metal index surged 2.47 per cent led by Tata Steel, Coal India and National Aluminium Company. The key Bank Nifty climbed 2.02 per cent aided by The Federal Bank, RBL Bank and Axis Bank.

In the broader market, the S&P BSE MidCap ended at 23,656.38, up 400.99 points (1.72 per cent), the S&P BSE SmallCap settled at 26,690.28, up 406.13 points (1.55 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:

15:53 (IST)30 Aug 2021
MARKET QUOTE | S Ranganathan, Head of Research, LKP Securities on Monday's market performance

"Indices and stocks surged through the day on positive global cues buoyed by the Fed commentary. The rally today was pretty much broad-based as expectations on the first quarter GDP numbers slated to be released tomorrow aided investor sentiment. Afternoon Trade witnessed the rally gathering momentum as indices rose 1.5 per cent with several stocks across sectors in the broader markets participating including exchanges."

15:51 (IST)30 Aug 2021
Rupee at close

Rupee rallies 40 paise to close at 73.29 (provisional) against US dollar.

(PTI)

15:34 (IST)30 Aug 2021
Equity markets at close

The S&P BSE Sensex ended at 56,889.76, up 765.04 points or 1.36 per cent, while the Nifty 50 settled at 16,931.05, up 225.85 points or 1.35 per cent.

15:05 (IST)30 Aug 2021
Axis Bank begins issuing debt securities under Rs 35,000 crore-debt raise plan

Axis Bank on Monday said it has started issuing debt securities under its Rs 35,000 crore-debt raise plan announced earlier this year.

In April, the private sector lender had said that its board had approved capital raise proposal up to Rs 35,000 crore by issuing various debt instruments in Indian or foreign currency in domestic/overseas markets in one or more tranches. Click here to read the full report

14:09 (IST)30 Aug 2021
Gold prices ease as global equities climb on Fed's dovish stance

Gold prices edged lower on Monday, as risk appetite got a boost after U.S. Federal Reserve chief Jerome Powell assuaged market fears of a quick withdrawal of pandemic-era stimulus, dampening bullion's safe-haven appeal.

Spot gold was down 0.2% at $1,813.76 per ounce, as of 0727 GMT. Earlier in the session, bullion scaled to its highest since Aug. 4 at $1,822.92. US gold futures edged 0.2% lower to $1,816.50.

(Reuters)

14:07 (IST)30 Aug 2021
Oil drops as Hurricane Ida weakens, OPEC in focus

Oil prices dropped from a four-week high on Monday as Hurricane Ida weakened after forcing precautionary shutdowns of US Gulf oil production, and attention turned to an OPEC meeting on Wednesday to discuss a further output boost.

Within 12 hours of coming ashore, the storm had weakened into a Category 1 hurricane. Nearly all offshore Gulf oil production, or 1.74 million barrels per day, was suspended in advance of the storm.

Brent crude was down 35 cents or 0.5% at $72.35 by 0815 GMT, having reached $73.69 earlier, the highest since Aug. 2. US crude fell 69 cents or 1% to $68.05, having earlier touched $69.64, the highest since Aug. 6.

(Reuters)

13:40 (IST)30 Aug 2021
IPOs coming up this week

1. Ami Organic

IPO date: Wednesday, September 1 - Friday, September 3
Price band: Rs 603-610
Face value: Rs 10
Lot size: 24 Equity Shares and in multiples thereof

2. Vijaya Diagnostic Centre

IPO date: Wednesday, September 1 - Friday, September 3
Price band: Rs 522-531
Face value: Re 1
Lot size: 28 Equity Shares and in multiples thereof

12:47 (IST)30 Aug 2021
Petrol and diesel prices unchanged

Petrol and diesel prices remained unchanged across the country for the sixth consecutive day on Monday, August 30, 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 
12:19 (IST)30 Aug 2021
Maruti Suzuki to hike prices across models from September

The country’s largest carmaker Maruti Suzuki India on Monday said it will hike prices across models from next month amid rising input costs.

In a regulatory filing, the company said, “…. over the past year the cost of company’s vehicles continue to be adversely impacted due to increase in various input costs.” Click here to read the complete report

11:52 (IST)30 Aug 2021
Bharti Airtel shares gain over 2% as Rs 21,000-crore fundraising plan gets board approval

Shares of Bharti Airtel on Monday gained over 2 per cent after the company’s board approved raising up to Rs 21,000 crore by way of rights issue.

The stock jumped 2.57 per cent to Rs 609.25 on the BSE. At the NSE, it gained 2.40 per cent to Rs 609.45.

Telecom operator Bharti Airtel’s board on Sunday approved raising up to Rs 21,000 crore by way of rights issue, at a price of Rs 535 per share, according to a regulatory filing. Click here to read the full report

10:59 (IST)30 Aug 2021
Maruti Suzuki to hike prices in September

Maruti Suzuki India on Monday informed the stock exchanges that it will hike prices across models in September.

In an exchange filing, the automaker said, "With reference to our earlier communications with respect to price increase, we wish to inform you that over the past year the cost of Company's vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative to pass on some impact of the additional cost to the customers through a price rise."

Source: Maruti Suzuki's filing to the BSE

Image: Reuters
10:41 (IST)30 Aug 2021
Rupee surges 31 paise to 73.38 against US dollar in early trade

The Indian rupee appreciated 31 paise to 73.38 against the US dollar in opening trade on Monday, tracking a positive trend in domestic equities.

At the interbank foreign exchange, the rupee opened at 73.46 against the dollar, then surged higher to 73.38, up 31 paise over its previous close.

(PTI)

10:14 (IST)30 Aug 2021
Asian shares rise on dovish Fed prospects but China caps gains

Asian shares perked up and the dollar fell to two-week lows on Monday after US Federal Reserve Chairman Jerome Powell struck a dovish tone at the central bank's long-awaited symposium, although investors remained cautious about prospects in China.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.45%, and Japan's Nikkei rose 0.28%. Chinese blue chips bucked the broader Asian trend, falling 0.20% and the Hong Kong benchmark fluctuated either side of flat. The larger gains were in smaller markets with Taiwan up 0.54% and Singapore 0.77% higher.

US stock futures, the S&P 500 e-minis, were barely moved, up 0.02%.

(Reuters)

09:57 (IST)30 Aug 2021
NSE sectoral indices in early trade

Among the sectoral indices on the National Stock Exchange (NSE), the Nifty Metal index was trading over 2 per cent higher, while the Nifty Auto was up over 1.5 per cent.

Source: NSE
09:52 (IST)30 Aug 2021
BSE Sensex: Gainers and losers in early trade

On the 30-share BSE benchmark, gains were being led by Tata Steel, Bajaj Finance, Titan, Maruti Suzuki India, Mahindra & Mahindra (M&M) and Larsen & Toubro (L&T).

Source: BSE
09:46 (IST)30 Aug 2021
Equity markets at open

Sensex rallies 336.22 pts to fresh lifetime high of 56,460.94 in opening session; Nifty jumps 100.95 pts to 16,806.15.

(PTI)

The benchmark equity indices on the BSE and National Stock Exchange (NSE) had 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).

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