SENSEX Financial News

Shriram Finance Ltd. traded at Rs 1903.25 on BSE at 10:15AM (IST) on Wednesday, up 1.06 per cent. The stock quoted a 52-week low price of Rs 1147.05 and a high of Rs 1974.95.

Indian Hotels Company Ltd. gained 0.52 per cent to Rs 412.5 at 10:20AM (IST) in Wednesday's trade. The scrip hit a high of Rs 414.3 and low of Rs 412.0 so far during the session.

Bharti Airtel Ltd, part of the telecom space, has given a breakout from a double bottom pattern in August 2023 and is sustaining above the same which indicates crucial support for the stock. The neckline of the double bottom pattern was placed at Rs 900. The stock closed at Rs 911 on 22 September 2023. As long as the stock holds above this crucial support, a bounce back towards 980-1000 levels is possible, suggest experts. Bharti Airtel, which is also part of the S&P BSE Sensex, hit a high of Rs 877 in November 2022 but it failed to hold on to the momentum.

Sensex fell 78 points to settle at 65,945, while the broader Nifty dropped 9.85 points to end at 19,664. Stocks that were in focus included names like Strides Pharma, which fell 1.84%, Tata Steel, which rose 1.22%, and Sun TV, whose shares declined 1.28% on Tuesday. Here's what Viral Chheda, Sr Technical Analyst at SSJ Finance & Securities, recommends investors should do with these stocks when the market resumes trading today. Strides Pharma — Buy After consolidating in the range of 410-480 levels for th2 months from July 2023 price breached the consolidation range at 480 and gave a upside rally to make the 21 months highs of 522 odd levels. From the high price witnessed some correction and made a low around range high of 480 and with relatively high volume price gave some pull back to make news high of 550 odd levels. Stock looks good at current price as the volumes are on rise also price is trading above all three major averages and trading at 21 months higher level. The Stochastics Oscillator is also moving in an upward trend along with an increase in volume indicating further upside from here.

Sensex closed flat with a lower bias following weak cues from global peers as the US Treasury yields hit a multi-year high and the US dollar rose to a 10-month high level amid concerns over interest rates staying high for an extended period and its impact on the global economy. The Sensex closed 78 points, or 0.12%, lower at 65,945.47, while the Nifty 50 finally ended at 19,664.70, down 10 points, or 0.05%. Also Read: 6 things that changed for the stock market overnight - Gift Nifty to falling US consumer confidence Nifty formed a small body of negative candle on the daily chart with minor upper and lower shadow.

Day trading guide for today: Domestic equity benchmarks Sensex and Nifty settled lower in the previous session due to select profit taking in IT and banking shares in line with weak Asian markets and continuous foreign fund outflows. Nifty 50 opened at 19,682.80 against the previous close of 19,674.55 and touched the intraday high and low of 19,699.35 and 19,637.45 respectively. Nifty 50 finally closed at 19,664.70, down 10 points, or 0.05 per cent.

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Sun Pharma promoter Dilip Shanghvi and Associates have decided to terminate the amended and restated shareholders' agreement with Suzlon Energy that was signed in February 2020. In a regulatory filing, Suzlon Energy said, «This is to inform that Dilip Shanghvi and Associates who had entered into an Amended and Restated Shareholders’ Agreement dated 28th February 2020 with the Promoters/ Promoter Group of the Company and the Company, have informed the Company and the other shareholders, who are party to the Agreement, that the investor group has decided to terminate the Agreement in accordance with the terms of the Agreement.» Suzlon added that there would not be any impact on the operations of the company on account of the termination of the agreement. With the termination of the agreement, the investor group's nominee director on Suzlon's board, Hiten Timbadia, has also resigned with effect from September 26, Suzlon added. In February 2020, Suzlon's board had approved the company's debt restructuring proposal and certain identified subsidiaries under the RBI circular dated June 2019. As part of the agreement, the company had issued up to 100 crore equity shares; up to 4.10 lakh or 0.01 secure optionally convertible debentures, and up to 50 crore warrants of Re 1 each. The board had also approved issuance of equity shares or equity linked instruments to the tune of Rs 1,000 crore. Those who were allotted the shares included Shanghvi Finance Pvt. Ltd., Aditya Medisales Ltd., other members of Dilip Shanghvi's family, among others.

Alstom T&D India(up 5.00%), Power & Instrumentation(Gujarat)(up 4.90%), RTNPOWER(up 4.76%), JSW Energy(up 4.45%), Energy Development Company(up 3.54%), Inox Wind Energy(up 2.70%), Inox wind(up 2.37%), DPSC(up 2.13%), Transformers and Rectifiers(India)(up 2.07%) and Suzlon Energy(up 1.96%) stood among the top gainers. Voltamp Transformers(down 5.22%), GE Power India Limited(down 2.27%), NLC India(down 2.11%), SJVN(down 1.79%), Adani Energy Solutions(down 1.51%), Hitachi Energy India(down 1.28%), NHPC(down 1.24%), Adani Power(down 0.96%), Orient Green Power Company(down 0.74%) and Power Grid Corporation of India(down 0.28%) were among the top losers of the day.

rupee fell on Tuesday because of month-end dollar demand, and as U.S. Treasury yields gained on renewed bets that interest rates in the U.S.

Bannari Amman Sugars(up 1.33%) and Kothari Sugars & Chemicals(up 0.09%) stood among the top gainers. Rajshree Sugars & Chemicals(down 4.09%), BAJAJHIND(down 3.72%), Uttam Sugar Mills(down 3.60%), Dalmia Bharat Sugar & Industries(down 3.08%), Dhampur Sugar Mills(down 2.90%), Sakthi Sugars(down 2.50%), K.M.Sugar Mills(down 2.29%), Mawana Sugars(down 2.29%), AVADHSUGAR(down 2.15%) and Triveni Engineering & Industries(down 2.07%) were among the top losers of the day. The NSE Nifty50 index ended 9.85 points down at 19664.7, while the 30-share BSE Sensex closed down 78.22 points at 65945.47. Eicher Motors Ltd.(up 2.52%), Hero MotoCorp Ltd.(up 2.0%), Nestle India Ltd.(up 1.62%), Bajaj Auto Ltd.(up 1.27%), Oil And Natural Gas Corporation Ltd.(up 1.21%), Tata Steel Ltd.(up 1.17%), Grasim Industries Ltd.(up 0.93%), Divi's Laboratories Ltd.(up 0.67%), Britannia Industries Ltd.(up 0.65%) and Bajaj Finance Ltd.(up 0.64%) stood among the top gainers in the Nifty pack. On the other hand, IndusInd Bank Ltd.(down 1.36%), Cipla Ltd.(down 1.33%), Tech Mahindra Ltd.(down 1.31%), Kotak Mahindra Bank Ltd.(down 1.13%), Adani Enterprises Ltd.(down 0.97%), Asian Paints Ltd.(down 0.91%), Infosys Ltd.(down 0.91%), Apollo Hospitals Enterprise Ltd.(down 0.85%), ICICI Bank Ltd.(down 0.79%) and Titan Company Ltd.(down 0.65%) closed in the red.

Domestic benchmark index NSE Nifty ended 9.85 points down at 19664.7, while the BSE Sensex closed 78.22 points down at 65945.47. On the other hand, Winsome Yarns, Shreyas Ship, Airan Ltd., IFCI and Divgi Torqtransfer stocks hit their fresh 52-week highs today. In the Nifty 50 index, Eicher Motors, Hero MotoCorp, Nestle India, Bajaj Auto and ONGC were among the top gainers on the NSE in the today's trade. Meanwhile, IndusInd Bank, Cipla, Tech Mahindra, Kotak Bank and Adani Ent.

The 30-share BSE benchmark Sensex declined 78 points or 0.12% to settle at 65,945. The broader NSE Nifty dropped 10 points or 0.05% to end at 19,665. From the Sensex pack, Tech Mahindra, Infosys, Asian Paints, ICICI Bank, and Kotak Bank closed with cuts, while Nestle, Tata Steel, M&M, Bajaj Finance, and HUL closed higher. Eicher Motors closed 2.6% higher after global brokerage firm Jefferies raised its price target to Rs 4,150 from Rs 4,000. Shares of Strides Pharma fell 2% after the company announced plans to spin off its CDMO (Contract Development and Manufacturing Organisation) and soft gelatin businesses into a new entity, OneSource. Nifty IT index fell 0.54% on fears of a delayed demand recovery in the US due to higher interest rates.

Shares of IDFC First Bank Ltd.(up 1.32 per cent), Au Small Finance Bank Ltd.(up 1.04 per cent), Federal Bank Ltd.(up 0.5 per cent), HDFC Bank Ltd.(up 0.43 per cent) and State Bank of India(up 0.05 per cent) ended the day as top gainers in the pack. On the other hand, Bank of Baroda(down 1.72 per cent), IndusInd Bank Ltd.(down 1.36 per cent), Kotak Mahindra Bank Ltd.(down 1.13 per cent), Punjab National Bank(down 1.05 per cent) and ICICI Bank Ltd.(down 0.79 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.32 per cent down at 44624.2. Benchmark NSE Nifty50 index ended down 9.85 points at 19664.7, while the BSE Sensex stood down 78.22 points at 65945.47. Among the 50 stocks in the Nifty index, 26 ended in the green, while 24 closed in the red. Shares of Vodafone Idea, JP Power, IFCI, IOB and Suzlon Energy were among the most traded shares on the NSE. Shares of Winsome Yarns, Shreyas Ship, Airan Ltd., IFCI and Divgi Torqtransfer hit their fresh 52-week highs in today's trade, while Rite Zone Chemcon In, Chavda Infra, Jiwanram Sheoduttrai, Jalan Transolutions and Essen Speciality Fil hit their fresh 52-week lows.

Shriram Finance Ltd. traded 2.03 per cent lower in Tuesday's session at 02:10PM (IST).

Godrej Consumer Products Ltd. traded 0.36 per cent up at Rs 979.6 at 01:34PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 51.21 points to 65972.48.

Marico Ltd. traded at Rs 581.65 on BSE at 12:48PM (IST) on Tuesday, up 0.52 per cent.

The counter had a total traded volume of 12:53PM shares so far with a turnover of Rs 1.89 crore on BSE. The stock traded at a price-to-earnings multiple of 55.18 and a price-to-book ratio of 18.5. A higher P/E ratio shows investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations. The price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business. Indian Railway Catering & Tourism Corporation Ltd.

DLF Ltd. traded 0.53 per cent up at Rs 524.85 on Tuesday at around 12:12PM (IST), while the benchmark BSE Sensex declined 27.99 points to 65995.7. As many as 26,771 shares changed hands on the counter with a total value of Rs 1.4 crore. The stock quoted a 52-week high price of Rs 544.45 and a 52-week low of Rs 336.55. On the technical charts, the 200-DMA of the stock stood at Rs 433.23, while 50-DMA was at Rs 502.3.

Colgate-Palmolive (India) Ltd. traded 0.01 per cent down at Rs 2001.3 at 12:17PM (IST) on Tuesday, even as BSE benchmark Sensex dropped 23.85 points to 65999.84.

ACC Ltd. traded at Rs 2015.2 on BSE at 10:45AM (IST) on Tuesday, up 0.74 per cent from previous close. The scrip quoted a 52-week low price of Rs 1593.5 and a high of Rs 2674.45. Earlier, the stock saw a gap down opening in the morning. A total of 4,960 lakh shares changed hands on the counter till 10:45AM (IST). The stock of ACC Ltd.