GIVE MISS CALL ON :- +91 99774 99927



Sensex above 39,000

Local stocks are trading higher in early trade on buying demand in index pivotals.The barometer index, the S&P BSE Sensex, was up 166.31 points or 0.43% at 39,146.16. The Nifty 50 index was up 57.25 points or 0.5% at 11,573.35.

The S&P BSE Mid-Cap index was up 0.75%. The S&P BSE Small-Cap index was up 0.65%.

The market breadth, indicating the overall health of the market, is strong. On the BSE, 977 shares rose and 335 shares fell. A total of 67 shares were unchanged.

Stocks in news:

Dr. Reddy’s Laboratories gained 1.94%. The company along with its subsidiaries announced the settlement of their litigation with Celgene, a wholly-owned subsidiary of Bristol Myers Squibb, relating to patents for REVLIMID (lenalidomide) Capsules.

Hindalco Industries rose 1.08%. Hindustan Copper gained 1.21%. Hindalco Industries and Hindustan Copper signed a Memorandum of Understanding (MoU) for the long-term purchase and sale of copper concentrate produced by Hindustan Copper.

TVS Motor Company rose 2.03%. The company announced their new distribution partnership with Autotecnica Colombiana SAS (Auteco SAS), a leading motorcycle assembler in Colombia. Autotecnica Colombiana SAS will operate 50 dealerships exclusive to TVS Motor Company and create dedicated space for the brand in over 600 retail outlets.

Sterling and Wilson Solar surged 5.03% after the company announced that it has signed an order of 106.71 MW worth USD 62.6 million (~INR 462 crores) in Chile. The order has been received from a global independent power producer (IPP), work for which is expected to begin in Q4 FY 2021.

Elantas Beck India rose 1.15%. The company has signed a Memorandum of Understanding with Talegaon Industrial Parks Private Limited for acquisition of land situated at Navlakhumbre, Tal. Maval, Pune, Maharashtra for setting up a new green field manufacturing facility. The facility will provide additional capacity to cater to the market demand.

Global Markets:

Overseas, Asian stocks are trading mostly higher on Friday following pledges by central bankers globally to do whatever it takes to support the economic recovery.

In US, stocks fell on Thursday as technology-related shares slid for a second day. Facebook and Amazon were down 3.3% and 2.3%, respectively. Netflix closed 2.8% lower. Alphabet dropped 1.7% while Apple and Microsoft were both down at least 1%. Snowflake, an IPO which captivated Wall Street on Wednesday as it doubled in its debut, was off by 10.4%.

US President Donald Trump said late Wednesday that the U.S. could distribute a vaccine as early as October, contradicting the director of the Centers for Disease Control and Prevention, who told lawmakers earlier in the day that vaccinations would be in limited quantities this year and not widely distributed for six to nine months.

In Europe, the Bank of England kept its main interest rate unchanged at the record low of 0.1% on Thursday as it gauges the strength of the economy’s recovery from recession and what the U.K.’s future trade relationship with the European Union will be. The rate-setting Monetary Policy Committee, which sets policy for the U.K. as a whole, said the outlook for the economy remains unusually uncertain in light of the recent spike in coronavirus infections and questions over the trading relationship with the EU from the start of next year.

The World Health Organization’s (WHO) regional director for Europe on Thursday warned of a “very serious situation” unfolding in Europe. Weekly cases have now exceeded those reported when the pandemic first peaked in Europe in March, said WHO’s Hans Klug.

Back home, domestic benchmark indices snapped a two-day rising streak on Thursday, tracking weak global cues. The S&P BSE Sensex lost 323 points or 0.82% at 38,979.85. The Nifty 50 index fell 88.45 points or 0.76% at 11,516.10.

Foreign portfolio investors (FPIs) sold shares worth Rs 249.82 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,067.83 crore in the Indian equity market on 17 September, provisional data showed.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Leave a Reply


Ouch! There was a server error.
Retry »

Sending message...


CapitalStars FORUM