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Friday, September 24, 2021

Market Highlights: Benchmarks end flat with minor gains, Sensex rises 55 points

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 58,305.07, up 54.81 points (0.09 per cent), while the Nifty 50 settled at 17,369.25, up 15.75 points (0.09 per cent).

By: Express Web Desk | New Delhi |
Updated: September 9, 2021 6:02:37 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) ended flat with some minor gains on Thursday.

The S&P BSE Sensex rose 54.81 points (0.09 per cent) to settle at 58,305.07, while the Nifty 50 ended at 17,369.25, up 15.75 points (0.09 per cent).

Bharti Airtel, Nestle India, Tata Steel, Bajaj Finserv, HCL Technologies and ITC were the top gainers on the Sensex on Thursday while Titan Company, Ultratech Cement, Bajaj Auto, HDFC Bank, Axis Bank and Bajaj Finance were the laggards.

The broader market indices however outpoerformed their benchmark peer and ended over 0.5 per cent higher. The S&P BSE MidCap index rose 138.21 points (0.56 per cent) to end at 24,705.29. Future Retail, JSW Energy and Adani Power were the top gainers among mid-caps. Likewise, the S&P BSE SmallCap climbed 143.82 points (0.52 per cent) to settle at 27,645.10. Here, the gains were led by Dish TV India, Future Consumer and KPR Mill.

Among the sectoral indices on NSE, Nifty Media index was the best performer of the day surging 2.97 per cent led by a sharp rally in Dish TV. This apart, the Nifty FMCG and Nifty Metal index rose 0.78 per cent each. The key Nifty Bank slipped 0.23 per cent.

Going ahead, markets will remain shut on Friday, September 10, 2021, on account of Ganesh Chaturthi.

(with inputs from agencies)

Live Blog

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

16:06 (IST)09 Sep 2021
MARKET QUOTE | Vinod Nair, Head of Research, Geojit Financial Services on Thursday's market performance

"Domestic markets were highly volatile tracking negative cues from global markets amidst selling seen in realty and pharma stocks. However, mid and small-cap stocks continued to attract buyers leading to its outperformance. Regulatory crackdown in China, global concerns over the looming reduction in asset purchases ahead of the European Central Bank meeting and slowdown in economic recovery pulled global markets lower."

15:35 (IST)09 Sep 2021
Equity markets at close

The S&P BSE Sensex ended at 58,305.07, up 54.81 points or 0.09 per cent, while the Nifty 50 settled at 17,369.25, up 15.75 points or 0.09 per cent.

15:27 (IST)09 Sep 2021
Crude oil futures dip on weak spot demand

Crude oil prices on Thursday fell Rs 4 to Rs 5,091 per barrel after participants cut their positions.

On the Multi Commodity Exchange, crude oil for the September delivery dropped by Rs 4, or 0.08 per cent, to Rs 5,091 per barrel with a business volume of 5,142 lots.

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


15:25 (IST)09 Sep 2021
Gold futures fall on low demand

Gold prices fell Rs 102 to Rs 47,105 per 10 grams in the futures trade on Thursday, as speculators reduced their positions amid low demand.

On the Multi Commodity Exchange, gold contracts for December traded lower by Rs 102, or 0.22 per cent, to Rs 47,105 per 10 gram in a business turnover of 5,003 lots.

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

Globally, however, gold traded 0.12 per cent higher to USD 1,795.70 an ounce in New York.


15:24 (IST)09 Sep 2021
Soybean futures rise on fresh bets

Soybean prices on Thursday went up by Rs 135 to Rs 8,800 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 135, or 1.56 per cent, to Rs 8,800 per quintal with an open interest of 12,755 lots.

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


15:21 (IST)09 Sep 2021
Ford Motor to cease local production in India, shut down both plants: Report

Ford Motor Co. will stop making cars in India and shut down both of its plants in the country, two sources told Reuters, becoming the latest automaker to exit the market.

Ford made the decision as it was not profitable for them to continue, said one of the sources, adding that the process will take about a year to complete.

The U.S. automaker will continue to sell some its cars in the country through imports, said the second source, adding that it will also provide support to dealers to service existing customers. Click here to read

14:54 (IST)09 Sep 2021
Future-Reliance deal: SC stays proceedings in Delhi HC, asks NCLT, CCI, SEBI not to pass final orders

The Supreme Court Thursday stayed all the proceedings before the Delhi High Court for four weeks related to implementation of an award by Singapore’s Emergency Arbitrator (EA) restraining Future Retail Ltd (FRL) from going ahead its Rs 24,731 crore merger deal with Reliance Retail.

A bench headed by Chief Justice N V Ramana, in a consent order, also directed the statutory authorities like National Company Law Tribunal (NCLT), Competition Commission of India (CCI) and market regulator Sebi not to pass any final order related to the merger deal for next four weeks. Click here to read

14:27 (IST)09 Sep 2021
UCO Bank shares zoom over 16% as lender out of PCA watchlist

Shares of UCO Bank on Thursday zoomed over 16 per cent after the Reserve Bank removed the company from its Prompt Corrective Action Framework (PCAF) following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.

The stock jumped 15.92 per cent to Rs 14.85 on the BSE. At the NSE, it climbed 16.40 per cent to Rs 14.90. Click here to read

13:45 (IST)09 Sep 2021
Petrol and diesel prices unchanged

Prices of petrol and diesel continued to be steady across the country for the fourth consecutive day on Thursday, September 9, 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

13:14 (IST)09 Sep 2021
Anil Ambani-led Reliance Infra wins $632 million arbitration against Delhi Metro

Reliance Infrastructure Ltd. won a four-year battle for control of money from an arbitration award that it says it needs to repay lenders.

A two-judge panel of the Supreme Court on Thursday upheld the 2017 arbitration award in favor of the Anil Ambani’s unit. The arbitration tribunal award is worth over 46.6 billion rupees ($632 million) including interest, according to Reliance Infrastructure’s annual report. Click here to read

11:51 (IST)09 Sep 2021
Should senior citizens invest in NPS after the revised rules?

The Pension Fund Regulatory and Development Authority (PFRDA) recently revised the entry and exit guidelines to ease investment in the National Pension Scheme (NPS) for senior citizens. As per the new rules, the entry age for NPS has been revised to 18-70 years from the earlier 18-65 years. This means that you can join NPS even if you are 70 years of age. But how much will it help you as a senior citizen? Click here to read

10:22 (IST)09 Sep 2021
Banking, capital market role in recovery: RBI Governor at Express-FT series today

In the third of a series of online, agenda-setting debates organised by The Indian Express and the Financial Times, financial sector leaders and regulators will discuss whether the banking sector and capital markets have sufficient capacity to support a sustained economic recovery. To kick off the event — Banking and Finance: The Key to India’s Recovery — Reserve Bank of India (RBI) Governor Shaktikanta Das will join in a conversation with P Vaidyanathan Iyer, Executive Editor (National Affairs), The Indian Express, and Amy Kazmin, South Asia Bureau Chief, Financial Times.

This will be followed by special interviews with Uday Kotak, Managing Director and CEO, Kotak Mahindra Bank, and Nick Shalek, General Partner, Ribbit Capital. The day-long event will also feature panel discussions by some of the brightest and the most influential leaders. A healthy banking sector and supportive capital markets are critical for growth, but banks remain weighed down by a large non-performing loan burden. Click here to read

10:18 (IST)09 Sep 2021
Inflows into MFs fall in Aug; SIPs, retail folios at peak

Even as the stock markets hit record highs, the mutual fund (MF) sector reported a decline in inflows into equity and debt schemes while balanced advantage funds mobilised a higher amount through new fund offers (NFOs). While funds mobilised via SIPs hit a new high of Rs 9,923 crore and folios under retail schemes shot to a peak of 8.95 crore, investors pumped in a net Rs 8,666 crore into equity mutual fund schemes in August, lower than the Rs 22,583 crore invested in July.

However, the balanced advantage category continued to attract big inflows, as it saw net inflow worth Rs 16,570.97 crore last month , as per Association of Mutual Funds in India (AMFI). Flexi cap funds saw inflows of Rs 4,741 crore, followed by focused funds. Click here to read

10:01 (IST)09 Sep 2021
Global market update

Asian shares dropped Thursday, while the dollar held firm, in line with a cautious global mood as investors worried about the combination of slowing global growth and the potential tapering of central bank stimulus.

The European Central Bank is particularly in focus, with analysts expecting it to announce a token step towards reducing
its emergency economic support later on Thursday.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.04% while Japan's Nikkei dropped 0.38%. There were losses in Australia down 1.01%, Korea off 0.74%, and in Hong Kong which shed 1.17%, with  tech names leading the declines there.

The Hang Seng Tech Index fell 2.44% in early trading, weighed by declines in Tencent Holdings down 3.7% and Netease Inc  down over 7% after China's government on Wednesday summoned gaming firms to ensure they implement new rules for the sector.

Chinese blue chips were down 0.41% just after the bell, and US stock futures, the S&P 500 e-minis, were down 0.16%.


09:42 (IST)09 Sep 2021
Equity markets at open

Sensex slips 46.40 pts to 58,203.86 in opening session; Nifty inches 5.85 pts lower to 17,347.65.


On Wednesday, the benchmark equity indices on the BSE and National Stock Exchange (NSE) had ended flat for the second consecutive day amid mild weakness in global markets.

The S&P BSE Sensex had slipped 29.22 points (0.05 per cent) to end at 58,250.26, while the Nifty 50 had 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.

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