Nifty 50 closed at 25,145.10 (-53.6, -0.2%) , BSE Sensex closed at 82,201.16 (-151.5, -0.2%) while the broader Nifty 500 closed at 23,762.80 (13.9, 0.1%). Market breadth is in the green. Of the 2,239 stocks traded today, 1,315 were on the uptick, and 904 were down.
Indian indices closed in the red after erasing its gains from the morning session. The Indian volatility index, Nifty VIX, fell by 1.2% and closed at 14.2 points. Data from Prime Database shows that Indian domestic companies are expected to raise over Rs 1.2 lakh crore through initial public offerings (IPOs) in the coming year. At least 22 IPOs, totaling Rs 15,530 crore, have already been approved by the market regulator SEBI.
Nifty Midcap 100 and Nifty Smallcap 100 closed in the green. Nifty Media and BSE Consumer Durables were among the top index gainers today. According to Trendlyne’s Sector dashboard, Hardware Technology & Equipment emerged as the best-performing sector of the day, with a jump of 2.7%.
Asian indices closed in mixed while European indices are trading mixed. US index futures traded lower, indicating a cautious start to the trading session. The artificial intelligence giant, NVIDIA Corp denied reports about receiving a subpoena from the US Department of Justice (DoJ) as part of an antitrust probe in its AI business.
Max Financial Services sees a short buildup in its September 26 futures series, with open interest increasing by 57% and a put-call ratio of 0.5.
PTC Industries is rising as its subsidiary, Aerolloy Technologies bags an order from Israel Aerospace Industries (IAI) for the supply of titanium cast components for aerospace applications.
Meghna Infracon Infrastructure rises sharply to an all-time high of Rs 568.4 as it announces the launch of “Manju Villa,” a new luxury residential project in Goregaon, Mumbai. The project is expected to generate Rs 37 crore in revenue.
Premier Energies surges as it receives an order worth Rs 215 crore from the Uttar Pradesh Department of Agriculture to supply, install, and commission 8,085 solar water pumping systems, along with a 5-year comprehensive warranty.
Easy Trip Planners surges over 10% following the board's approval to set up a wholly-owned subsidiary for manufacturing electric buses. This move is pending necessary approvals from the Ministry of Corporate Affairs.
Alembic Pharma rises sharply as it recieves USFDA approval for Albendazole Tablets USP, 200 mg. These tablets are used to treat neurocysticercosis created by the pork tapeworm and cystic hydatid disease of the liver, lung and peritoneum caused by the dog tapeworm.
Rama Steel Tubes is surging as it enters a partnership with Onix Renewable to provide steel structures and single-axis trackers for solar projects undertaken by Onix.
Nazara Technologies rises as it signs a memorandum of understanding (MoU) with the Government of Telangana to establish an AI Center of Excellence (AI CoE), focusing on innovation in gaming and digital entertainment.
Data from Prime Database shows that Indian domestic companies are expected to raise over Rs 1.2 lakh crore through initial public offerings (IPOs) in the coming year. At least 22 IPOs, totaling Rs 15,530 crore, have already been approved by the market regulator SEBI. Notable among them are SK Finance and Asirvad Micro Finance, which are projected to raise Rs 2,200 crore and Rs 1,500 crore, respectively.
Goldiam International surges to its all-time high of Rs 355 per share as it bags an export order worth Rs 70 crore from retailers in the US for diamond-studded gold jewellery.
Sapphire Foods India surges to its new all-time high of Rs 364.4 as it trades on its record date for stock split. The company subdivides its existing equity shares, with a face value of Rs 10 each, into five new shares with a face value of Rs 2.
Dilip Buildcon rises sharply as it emerges as the lowest bidder for a Rs 1,341 crore project by Konkan Railway Corp. The project involves constructing a twin tube unidirectional tunnel and a four-lane approach road in Kerala, on an engineering, procurement & construction (EPC) basis.
Arnab Banerjee, MD & CEO of Ceat, forecasts double-digit growth with margin improvement in H2FY25. He adds that the company has already raised prices by 3-4% in FY25 and plans another price hike in September due to a 50% rise in rubber prices in 2024.
Mahanagar Telephone Nigam (MTNL) is falling as it defaults on a Rs 5,625.5 crore payment to a consortium of banks including Union Bank of India, State Bank of India, and Punjab & Sind Bank, among others.
Sharekhan retains its 'Buy' call on IndusInd Bank with a target price of Rs 1,750 per share. This indicates a potential upside of 22.2%. The brokerage believes that the company's near-term business outlook remains stable, except for increased slippage in the credit card and microfinance institution (MFI) businesses, which is expected to normalise in H2FY25. It expects the bank's net interest income (NII) to grow at a CAGR of 8.3% over FY25-26.
Century Textiles & Industries rises as it purchases land in Kalwa, Thane, from Hindalco Industries with a Rs 400 crore corporate guarantee. This guarantee supports the acquisition, which will be paid in multiple installments.
The Federation of Automobile Dealers Associations (FADA) reports that the inventory of passenger vehicles (PV) has reached concerning levels. FADA President Manish Raj Singhania notes that instead of addressing the issue, PV manufacturers are increasing monthly dispatches to dealers, worsening the situation.
Max Financial Services falls as nearly 1.5 crore shares (4.3% stake), amounting to Rs 1,637 crore, reportedly change hands in a block deal on Thursday.
Sona BLW Precision Forgings is rising as its board of directors approves raising Rs 2,400 crore through a qualified institutional placement (QIP) of shares at a floor price of Rs 699 per share.
Zaggle Prepaid Ocean Services surges as it enters into an agreement with Blue Star to provide its Zaggle Save platform, which handles expense management and employee benefits, for Blue Star's workforce.
Anand Roy, Managing Director of Star Health and Allied Insurance, states that the company is exploring collaborations with insurers in Africa and West Asia for inward reinsurance opportunities via GIFT City. He adds that many customers come to India for treatment, so the firm is working on positioning the company to serve as both an inward reinsurance provider and a concierge for claim services.
Linde India rises sharply as it enters an agreement with Tata Steel to acquire two 1,800 tonnes per day air suppression units (ASU) for its Kalinganagar Phase 2 expansion project.
Glenmark Pharmaceuticals' US arm enters a settlement worth $25 million (approx. Rs 209.9 crore) with the US Department of Justice (DoJ) after conducting a False Claims Act and Anti-Kickback Statute investigation.
RailTel Corporation of India rises as it receives a work order worth Rs 11 crore from Northern Railways for a telecom project.
Suzlon Energy enters a property sale and leaseback agreement for its headquarters, One Earth, in Pune. The company sells the property to 360 ONE Alternates Asset Management for Rs 440 crore. Suzlon will lease it back for up to five years, with the option to sub-lease or license the property.
Nifty 50 was trading at 25,237.80 (39.1, 0.2%), BSE Sensex was trading at 82,469.79 (117.2, 0.1%) while the broader Nifty 500 was trading at 23,815.30 (66.4, 0.3%).
Market breadth is highly positive. Of the 1,911 stocks traded today, 1,532 showed gains, and 344 showed losses.
Riding High:
Largecap and midcap gainers today include Gujarat Fluorochemicals Ltd. (3,475.10, 9.7%), Zomato Ltd. (254.85, 4.9%) and Bosch Ltd. (34,015.05, 4.8%).
Downers:
Largecap and midcap losers today include Oil India Ltd. (658.45, -3.5%), Torrent Power Ltd. (1,689.30, -2.6%) and Dixon Technologies (India) Ltd. (12,451.15, -2.6%).
Volume Shockers
14 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Gujarat Fluorochemicals Ltd. (3,475.10, 9.7%), Caplin Point Laboratories Ltd. (2,129.70, 8.2%) and Craftsman Automation Ltd. (6,338.70, 5.3%).
Top high volume losers on BSE were Amara Raja Energy & Mobility Ltd. (1,449, -2.6%) and Max Financial Services Ltd. (1,123.80, -0.8%).
Linde India Ltd. (7,464.95, 3.7%) was trading at 7.6 times of weekly average. Sunteck Realty Ltd. (595.70, 4.5%) and PVR INOX Ltd. (1,572.80, 3.0%) were trading with volumes 5.3 and 4.3 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
46 stocks made 52 week highs,
Stocks touching their year highs included - Akzo Nobel India Ltd. (3,689.65, 3.6%), Apollo Hospitals Enterprise Ltd. (6,987.10, 0.8%) and Biocon Ltd. (386.15, 1.8%).
14 stocks climbed above their 200 day SMA including Gujarat Fluorochemicals Ltd. (3,475.10, 9.7%) and EIH Ltd. (388.80, 4.1%). 4 stocks slipped below their 200 SMA including Nestle India Ltd. (2,506.95, -1.1%) and Engineers India Ltd. (217.36, -0.5%).
Riding High:
Largecap and midcap gainers today include Gujarat Fluorochemicals Ltd. (3,524.30, 11.3%), Zomato Ltd. (254.85, 4.9%) and Avenue Supermarts Ltd. (5,308.15, 4.1%).
Downers:
Largecap and midcap losers today include Oil India Ltd. (654.90, -4.0%), Torrent Power Ltd. (1,673.40, -3.5%) and UNO Minda Ltd. (1,132.90, -3.0%).
Volume Rockets
29 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included Gujarat Fluorochemicals Ltd. (3,524.30, 11.3%), Easy Trip Planners Ltd. (43.07, 10.8%) and Caplin Point Laboratories Ltd. (2,101.10, 6.7%).
Top high volume losers on BSE were Amara Raja Energy & Mobility Ltd. (1,447.50, -2.7%), Cera Sanitaryware Ltd. (9,200, -1.7%) and Max Financial Services Ltd. (1,117.25, -1.4%).
Linde India Ltd. (7,430, 3.2%) was trading at 9.0 times of weekly average. GMR Airports Infrastructure Ltd. (95.77, 2.5%) and PVR INOX Ltd. (1,580.15, 3.5%) were trading with volumes 7.3 and 7.0 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
48 stocks took off, crossing 52 week highs,
Stocks touching their year highs included - Akzo Nobel India Ltd. (3,665, 2.9%), Apollo Hospitals Enterprise Ltd. (6,934.30, 0.1%) and Biocon Ltd. (382.85, 0.9%).
17 stocks climbed above their 200 day SMA including Gujarat Fluorochemicals Ltd. (3,524.30, 11.3%) and Easy Trip Planners Ltd. (43.07, 10.8%). 4 stocks slipped below their 200 SMA including Nestle India Ltd. (2,504.90, -1.2%) and Engineers India Ltd. (217.03, -0.7%).