NIFTY Financial News

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Benchmark NSE Nifty closed 93.5 points up at 19528.8 amid buying in frontline bluechip counters. However, stocks such as CMI Ltd, Penta Gold, Rajvir Ind, FutureLifestyleFash and Sanco Industries, touched their fresh 52-week lows. Overall, 31 shares ended in the green in Nifty50 index, while 19 closed in the red. In the Nifty 50 index, Coal India Ltd, Wipro, HCL Tech, UltraTech Cem.

MAGADHSUGAR(up 17.71%), BAJAJHIND(up 12.95%), Shree Renuka Sugars(up 10.08%), K.M.Sugar Mills(up 8.44%), AVADHSUGAR(up 8.12%), Dalmia Bharat Sugar & Industries(up 7.45%), KCP Sugar & Industries(up 7.22%), Sakthi Sugars(up 7.02%), Uttam Sugar Mills(up 6.79%) and Triveni Engineering & Industries(up 6.50%) stood among the top gainers. DCM Shriram Industries(down 1.15%) were among the top losers of the day. The NSE Nifty50 index ended 93.5 points up at 19528.8, while the 30-share BSE Sensex closed up 240.98 points at 65628.14. Coal India Ltd.(up 4.6%), Wipro Ltd.(up 4.26%), HCL Technologies Ltd.(up 3.93%), UltraTech Cement Ltd.(up 3.87%), Tata Steel Ltd.(up 3.69%), Hindalco Industries Ltd.(up 2.83%), Tech Mahindra Ltd.(up 2.33%), NTPC Ltd.(up 2.21%), Grasim Industries Ltd.(up 1.63%) and Infosys Ltd.(up 1.47%) stood among the top gainers in the Nifty pack. On the other hand, Mahindra & Mahindra Ltd.(down 0.97%), Axis Bank Ltd.(down 0.89%), ITC Ltd.(down 0.8%), Nestle India Ltd.(down 0.8%), Asian Paints Ltd.(down 0.73%), Bajaj Finance Ltd.(down 0.68%), Bajaj Auto Ltd.(down 0.67%), Titan Company Ltd.(down 0.52%), Cipla Ltd.(down 0.52%) and Kotak Mahindra Bank Ltd.(down 0.5%) closed in the red.

The NSE Nifty index ended the session 93.5 points up at 19528.8, while BSE Sensex rose 240.98 points to 65628.14. In the Nifty index, Coal India Ltd.(up 4.60 per cent), Wipro Ltd.(up 4.26 per cent), HCL Technologies Ltd.(up 3.94 per cent), UltraTech Cement Ltd.(up 3.87 per cent) and Tata Steel Ltd.(up 3.70 per cent) stood among the top gainers. On the other hand, Mahindra & Mahindra Ltd.(down 0.98 per cent), Axis Bank Ltd.(down 0.90 per cent), Nestle India Ltd.(down 0.81 per cent), ITC Ltd.(down 0.80 per cent) and Asian Paints Ltd.(down 0.74 per cent) were among the top losers of the day.

Shares of IDFC First Bank Ltd.(up 5.4 per cent), Punjab National Bank(up 3.05 per cent), Bank of Baroda(up 2.54 per cent), State Bank of India(up 1.05 per cent) and HDFC Bank Ltd.(up 0.62 per cent) ended the day as top gainers in the pack. On the other hand, Au Small Finance Bank Ltd.(down 1.23 per cent), Axis Bank Ltd.(down 0.89 per cent), Federal Bank Ltd.(down 0.52 per cent), Kotak Mahindra Bank Ltd.(down 0.5 per cent) and ICICI Bank Ltd.(down 0.13 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.32 per cent up at 44578.3. Benchmark NSE Nifty50 index ended up 93.5 points at 19528.8, while the BSE Sensex stood up 240.98 points at 65628.14. Among the 50 stocks in the Nifty index, 31 ended in the green, while 19 closed in the red. Shares of YES Bank, Indian Railway Fin, JP Power, Vodafone Idea and Rail Vikas Nigam were among the most traded shares on the NSE. Shares of MMTC, Indian Railway Fin, De Neers Tools, All E Technologies and JP Associates hit their fresh 52-week highs in today's trade, while CMI Ltd, Penta Gold, Rajvir Ind, FutureLifestyleFash and Sanco Industries hit their fresh 52-week lows.

Shares of Samvardhana Motherson International Ltd.(up 4.65 per cent), Tube Investments of India Ltd.(up 2.21 per cent), Eicher Motors Ltd.(up 0.99 per cent), Balkrishna Industries Ltd.(up 0.93 per cent) and Bharat Forge Ltd.(up 0.59 per cent) ended the day as top gainers in the pack. On the other hand, Sona BLW Precision Forgings Ltd.(down 1.51 per cent), Mahindra & Mahindra Ltd.(down 0.97 per cent), Bajaj Auto Ltd.(down 0.67 per cent), Tata Motors Ltd.(down 0.35 per cent) and Ashok Leyland Ltd.(down 0.24 per cent) finished as the top losers of the day. The Nifty Auto index closed 0.1 per cent up at 15943.6. Benchmark NSE Nifty50 index ended up 93.5 points at 19528.8, while the BSE Sensex stood up 240.98 points at 65628.14. Among the 50 stocks in the Nifty index, 31 ended in the green, while 19 closed in the red. Shares of YES Bank, Indian Railway Fin, JP Power, Vodafone Idea and Rail Vikas Nigam were among the most traded shares on the NSE. Shares of MMTC, Indian Railway Fin, De Neers Tools, All E Technologies and JP Associates hit their fresh 52-week highs in today's trade, while CMI Ltd, Penta Gold, Rajvir Ind, FutureLifestyleFash and Sanco Industries hit their fresh 52-week lows.

US Federal Reserve may not hike rates in September following a jump in the US unemployment rate in August. “Data on Friday showed US job growth picked up in August, but the unemployment rate jumped to 3.8 per cent, while wage gains moderated. The economy created 110,000 fewer jobs than previously reported in June and July," reported Reuters.

unemployment rate increased to 3.8% in August, while the average hourly salary is on the decline. With regard to the September meeting, the Fed is probably going to hold rates, according to the statistics. This was overall encouraging news for the global equity markets.

YES Bank surged as much as 10% in intra-day trade on Monday, extending gains from the previous session, and hit the highest level in over 7 months. The sharp rally in the stock was backed by significant volumes, as more than 647 million shares changed hands on the NSE, which was nearly six times higher than the 6-month average trading volume of 115 million shares. In two sessions, the stock has gained more than 13%, and it scaled a 7-month high of Rs 19. According to reports, JC Flower asset reconstruction company has reached a resolution with Subhash Chandra-led Essel Group to settle the outstanding dues, thereby ending a 2-year tussle between the group and YES Bank. In April last year, YES Bank transferred Rs 48,000 crore of its bad loans to JC Flower, and the bank’s exposure to Essel Group was part of this. JC Flowers ARC has worked out a one-time settlement with the group that will lead to a 75% haircut, reports said. Against an outstanding debt of Rs 6,500 crore, Chandra’s Essel Group will pay JC Flowers Rs 1,500 crore to regain ownership of the family’s stake in assets, including Dish TV and Zee Learn, as well as three properties, including a bungalow in central Delhi. The sale of bad loans did help in improving YES Bank’s balance sheet. In the June quarter, the bank’s gross non-performing assets ratio came down significantly to 2% from as high as 13.4% a year ago.

Siemens Ltd. traded 0.1 per cent down in Monday's trade at 01:49PM (IST).

Indian stock market witnessed a decent rally in the last couple of months, especially in the Midcap and Smallcap space. The benchmark index Nifty 50 and the S&P 500 are up 10% and 14% respectively over the past year. Analysts said the Indian economy stands at a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy.

Ashok Leyland Ltd. slipped 0.38 per cent to Rs 183.45 in Monday's trade.

Jubilant Foodworks Ltd. traded 0.22 per cent down at Rs 504.65 on Monday at around 11:26AM (IST), while the benchmark BSE Sensex advanced 20.29 points to 65407.45. As many as 19,688 shares changed hands on the counter with a total value of Rs 9944.0 crore. The stock quoted a 52-week high price of Rs 652.2 and a 52-week low of Rs 412.2. On the technical charts, the 200-DMA of the stock stood at Rs 482.36, while 50-DMA was at Rs 487.86.

SRF Ltd. gained 1.13 per cent to Rs 2411.0 in Monday's trade.

₹267.00 apiece on the BSE. Jio Financial Services was listed on the stock exchanges on August 21. The stock was listed at ₹265 apiece on the BSE and ₹262 per share on the NSE as compared to its discovered price of ₹261.85 apiece.

Brigade Enterprises Ltd.(up 5.62 per cent), Macrotech Developers Ltd.(up 1.79 per cent), Indiabulls Real Estate Ltd.(up 1.47 per cent), Phoenix Mills Ltd.(up 1.27 per cent) and DLF Ltd.(up 1.21 per cent) were among the top gainers. Prestige Estates Projects Ltd.(down 0.81 per cent) were the top losers on the index. The Nifty Realty index was up 1.29 per cent at 570.9 at the time of writing this report. Benchmark NSE Nifty50 index was up 50.45 points at 19485.75, while the BSE Sensex was up 109.34 points at 65496.5. Among the 50 stocks in the Nifty index, 28 were trading in the green, while 22 were in the red. Shares of Indian Railway Fin, YES Bank, Vodafone Idea, Rail Vikas Nigam and JP Power were among the most traded shares on the NSE. Shares of Pearl Global, Indian Railway Fin, Hindustan Comp, All E Technologies and Wendt India hit their fresh 52-week highs in today's trade, while BKM Industries, CMI Ltd, Penta Gold, Sanco Industries and Sri Adhikari hit fresh 52-week lows in trade.

Wipro's daily chart shows the formation of a symmetrical triangle pattern, accompanied by lower trading volumes, suggesting a potential breakout in the near future, says Rupak De, Senior Technical analyst at LKP Securities. Besides Wipro, MMTC is his other stock idea for this week. Edited excerpts from an interview:August F&O rollover data shows FIIs decreased their net Long position by 31,000 contracts in August series. Nifty rollovers reduced month-on-month to 78%. What are the targets for the September series given the fact that there's little bullishness left as far as the headline indices are concerned?Nifty witnessed a rollover rate that was on par with the three-month average. Notably, the Cement sector and Realty sector stood out as the top two sectors where the rollover rate exceeded the three-month average rollover. Within the market, Dalmia Bharat, MCX, and Bharti Airtel were the top three stocks exhibiting the highest divergence in rollover rates compared to their respective averages. In the September series, the Nifty appears to be in a bullish trend as it has just crossed above the 21-day Exponential Moving Average (EMA) for the first time in several days. This suggests the potential for a bullish reversal. Additionally, the index has broken out of a falling channel, further indicating increasing bullish sentiment.

Nifty, are likely to open higher on Monday amid mixed signals from global markets. The trends on Gift Nifty indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading at around 19,553 level as compared to the Nifty futures’ Friday close of 19,519.50.

Sensex and Nifty, ended with healthy gains on Friday, boosted by all-around buying in light of broadly positive global cues ahead. “Domestic markets made significant gains, buoyed by favourable global cues, a higher-than-expected domestic manufacturing PMI, and positive GDP growth data. This robust economic outlook propelled key manufacturing sectors to lead the rally, while strong sales figures generated increased interest in auto stocks," said Vinod Nair, Head of Research at Geojit Financial Services.

Indiabulls Housing Finance has been put under the ban for trade on Monday, September 4, 2023 under the futures and options (F&O) segment by the National Stock Exchange (NSE). The security has been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stock will be available for trading in the cash market.

Bajaj Auto's subsidiary, Bajaj Auto Consumer Finance, has obtained the Certificate of Registration from the Reserve Bank of India (RBI) to commence its operations as a non-banking finance company (NBFC). This development was reported in the company's filing on September 1, as per information from MoneyControl.In the exchange filing, Bajaj Auto said, “We would like to inform you that Bajaj Auto Consumer Finance Limited, the wholly-owned subsidiary of Bajaj Auto Limited, has received on 31 August 2023 from RBI a Certificate of Registration, bearing No.