Informist, Monday, Sep 25, 2023
By Maitri Seth
MUMBAI – Benchmark equity indices ended their day on a flat note today, with select financial services stocks leading gains on the one hand, and pharmaceutical and information technology stocks witnessing significant profit-booking on the other.
Further, Vishal Wagh, an independent analyst, was of the view that there was some pressure in the market ahead of the expiry of monthly derivatives, due Thursday. Investors are also cautious ahead of the Jul-Sep earnings season, he added.
Today, both the Nifty 50 and the Sensex closed flat at 19674.55 points and 66023.69 points, respectively. However, both indices managed to close in the green after falling for four consecutive sessions. The broader market also performed well today with all mid- and small-cap indices closing upto 1.4% higher.
Meanwhile, investors also tracked cues from global markets where major indices ended lower to mixed. Analysts believe that although comments from US Federal Reserve officials have been "mostly factored-in", investors will continue to closely track global markets in the next few sessions.
A significant jump in share price of Bajaj Finance ushered in gains in both Nifty 50 and Nifty Financial Services indices. Shares of Bajaj Finance closed 4.7% higher and hit a two-month high of 7,849.90 rupees after the company on Friday said its board would meet on Oct 5 to consider raising funds through a preferential issue or a qualified institutional placement. On a similar sentiment, shares of peer Bajaj Finserv also rose over 2% today.
Meanwhile, the Nifty Realty index outperformed other sectoral indices and closed 1.5% higher today after falling for five straight sessions. Shares of Indiabulls Real Estate ended 9.3% up and hit a nine-month high of 87 rupees on multiple large deals of over 1,00,000 shares on the National Stock Exchange.
Further, investors booked profits in stocks of pharmaceutical and information technology companies, with both Nifty IT and Nifty Pharma indices closing 0.8% and 0.3% lower, respectively. The Nifty Metal index also closed marginally in the red after shares of index-heavy constituent Hindalco Industries fell over 2% intraday.
Among other stocks, shares of Delta Corp closed 18.6% down after hitting their lowest level in over two years as the company received a notice regarding a goods and services tax liability of 111.4 bln rupees for the period from July 2017 to March 2022 on Friday. Meanwhile, IRB Infrastructure Developers was among top-gainers in the Nifty 500 index as it rose as much as 11% to hit an intraday high of 33.10 rupees after witnessing five large deals on NSE.
For Tuesday, analysts expect the "sideways" movement in the indices to continue, and peg support and resistance levels for the Nifty 50 at 19550 points and 19800 points, respectively. Deven Mehta, an equity research analyst with Choice Broking, is positive on bank stocks, especially public-sector bank stocks, for the next session.
* Of the Nifty 50 stocks, 24 rose, and 25 fell, 1 was unchanged
* Of the Sensex stocks, 14 fell, and 16 rose
* On the BSE, 1,871 stocks rose, 1,905 fell, and 170 were unchanged
* Nifty Realty: up 1.5%; Nifty Financial Services: up 0.6%; Nifty Pharma: down 0.3%
BSE NSE
Sensex: 66023.69, up 14.54 pts or 0.02% Nifty 50: 19674.55, up 0.30 pts or 0.00%
S&P BSE Sensitive Index Nifty 50
Lifetime High: 67927.23 (Sep 15, 2023) : Lifetime High: 20222.45 (Sep 15, 2023)
Record Close High: 67838.63 (Sep 15, 2023) : Record Close High: 20192.35 (Sep 15, 2023)
2023 1st day close: 61167.79 (Jan 2) : 2023 1st day close: 18197.45 (Jan 2)
2023 Closing High: 67838.63 (Sep 15, 2023) : 2023 Closing High: 20192.35 (Sep 15)
2023 Closing Low: 59288.35 (Feb 27) : 2023 Closing Low: 17311.80 (Oct 17)
2023 High (intraday): 67927.23 (Sep 15) : 2023 High (intraday): 20222.45 (Sep 15)
2023 Low (intraday): 58699.20 (Jan 30) : 2023 Low (intraday): 17098.55 (Jan 17)
2022 1st day close: 59183.22 (Jan 3) : 2022 1st day close: 17625.70 (Jan 3)
2022 Closing High: 63284.19 (Dec 1) : 2022 Closing High: 18812.50 (Dec 1)
2022 Closing Low: 51360.42 (Jun 17) : 2022 Closing Low: 15293.50 (Jun 17)
2022 High (intraday): 63583.07 (Dec 1) : 2022 High (intraday): 18887.60 (Dec 1)
2022 Low (intraday): 50921.22 (Jun 17) : 2022 Low (intraday): 15183.40 (Jun 17)
2021 Closing High: 61305.95 (Oct 14) : 2021 Closing High: 18338.55 (Oct 14)
2021 Closing Low: 46285.77 (Jan 29) : 2021 Closing Low: 13634.60 (Jan 29)
2021 High (intraday): 61353.25 (Oct 14) : 2021 High (intraday): 18350.75 (Oct 14)
2021 Low (intraday): 46160.46 (Jan 29) : 2021 Low (intraday): 13596.75 (Jan 29)-
2020 Closing High: 47751.33 (Dec 31) : 2020 Closing High: 13981.95 (Dec 30)
2020 Closing Low: 25981.24 (Mar 23) : 2020 Closing Low: 7610.25 (Mar 23)
2020 High (intraday): 47896.97 (Dec 31) : 2020 High (intraday): 14024.85 (Dec 31)
2020 Low (intraday): 25638.90 (Mar 24) : 2020 Low (intraday): 7511.10 (Mar 24)
2019 High (intraday): 41809.96 (Dec 20) : 2019 High (intraday): 12293.90 (Dec 20)
2019 Low (intraday): 35287.16 (Feb 19) : 2019 Low (intraday): 10583.65 (Jan 29)
2018 High (intraday): 38938.91(Aug 28)) : 2018 High(intraday): 11760.20 (Aug 28)
2018 Low (intraday): 32483.8 (Mar 23) : 2018 Low (intraday): 9951.9 (Mar 23)
2017 High (intraday): 34005.37 (Dec 26) : 2017 High(intraday): 10515.10 (Dec 26)
End
Edited by Deepshikha Bhardwaj
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