Closing Bell : Nifty falls below 20,150, Sensex drops 260 points; auto and PSU banks gain. Sep-18

Closing Bell: Sensex falls, closed at 67,596 level : While Nifty at 20,133 level

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• Nifty falls below 20,150, Sensex drops 260 points; auto and PSU banks gain

• Birlasoft, Cyient, and Infosys drove down the BSE Information Technology index by 0.6 percent.

•  On the last day, the Zaggle Prepaid Ocean Services IPO was subscribed to 4.27 times.

• East Coast Railway awards Tantia Construction additional orders for Rs 62.60 crore.

• According to CNBC-TV18, Indiabulls Housing Large Trade | 17.7 lakh shares (0.4 percent equity) change hands at a price of Rs 200.80 per share.

• The Nifty Metal index fell 1%, led by Hindalco Industries, Jindal Steel, and Adani Enterprises. 

• The BSE Realty index fell 0.9 percent, led by Godrej Properties, Macrotech Developers, and Mahindra Life Insurance.

• Genesys International Corporation has been awarded a deal worth Rs 67 crore.

• At the start of this week, European markets were generally lower as investors anticipated a week of central bank decisions.

• 5 lakh shares (0.3 percent equity) worth Rs 232.7 crore change hands at an average price of Rs 47 per share, according to CNBC-TV18.

• D B Realty raises Rs 1,544 crore through a preferential issuance. 

• Panacea Biotec reaches a 52-week high after Serum Institute sells 4 lakh shares.

• As QIBs rule the final day of bidding, Samhi Hotels’ IPO was booked 1.93 times.

• Zomato stock rises 2% as investors applaud the firm for meeting its growth targets.

• Five-Star Business Finance is up 3% as Smallcap World Fund increased its position.

• Vodafone Idea falls from its 52-week high on profit booking following a Rs 1,701-cr payment to the DoT.

• Raymond has placed an order with Capacite Infraprojects. 

• Limited (Realty Division) for a total contract value of Rs 281 crore for the Thane project Codename Xception.

• Dhanlaxmi Bank falls 7% after an independent director resigns over a variety of issues. 

• Jupiter Life Line Hospitals lists with a 32% premium to its initial public offering price. 

• Indian Oil Corporation would invest an additional Rs 903.5 crore in Hindustan Urvarak & Rasayan.

•  Gold prices rise ahead of a possible Fed rate cut.

• The Nifty begins below 20,150, while the Sensex falls 230 points; Tata Steel, BEL, and ONGC are among the stocks to watch.

• The Defence Acquisition Council approves the Acceptance of Necessity for the purchase of 12 Su-30 MKI aircraft from HAL.

• Tata Steel and the UK Government have agreed to invest £1.25 billion in the Port Talbot plant, and Bharat Electronics has received orders worth Rs 3,000 crore.
• Windfall tax on crude oil increased from Rs 6,700 to Rs 10,000 per tonne. 

• Madhya Pradesh Jal Nigam awards HFCL a Rs 1,015 crore order. 

Indian Market Action

     INDIAN MARKET MOVERS 

News Updates

Monetary policy to dominate commodity market sentiments this week

Global markets saw a boost as Chinese regulators boosted domestic consumption, while US inflationary pressures limited gains elsewhere. The US dollar reached a six-month high of 105.43, driven by persistent US inflation. The US Consumer Price Index rose by 0.6% in August, the largest monthly increase since May 2022. Core inflation moderated for the fifth consecutive month to 4.3%, aligning with market expectations. Retail sales also exceeded expectations, demonstrating consumer resilience. This leaves room for potential interest rate hikes in November or December, following an expected pause this month.

Jupiter Life Line Hospitals likely to list with 30% premium today

Jupiter Life Line Hospitals is expected to list with a 30% premium over the issue price of Rs 735 per share on September 18. This is due to robust subscription numbers, strong brand recall in the Mumbai Metropolitan Area (MMR) region, increasing demand in the healthcare sector, and bullish sentiment in the equity markets. The initial public offering of the hospital chain was subscribed 63.72 times during September 6-8, with qualified institutional buyers buying 187.32 times the allotted quota. High net-worth individuals and retail investors also supported the issue, putting in bids 34.75 times and 7.73 times the portion set aside for them. Jupiter Life Line Hospitals operates three hospitals in the Mumbai Metropolitan Area and western region of India.

Primary market booms with 10 public issues lined up to raise over Rs 2,400 cr this week

The primary market is experiencing a surge with 10 companies preparing to issue their initial public issues this week, raising at least Rs 2,400 crore. The first IPOs in the mainboard segment will be held by Telangana-based ethnic apparel retailer Sai Silks Kalamandir and Delhi-based real estate developer Signature Global. The first IPOs will open on September 20 and close on September 22, with Sai Silks aiming to raise Rs 1,201 crore from the issue. The issue includes fresh shares worth Rs 600 crore and an offer-for-sale (OFS) of 2.7 crore equity shares by the promoter group.

PSU bank stocks beat private peers in one-year returns, keep brokerages upbeat

Public sector banks (PSBs) have become the dominant players in the Indian banking sector in the past year, outperforming private counterparts. Analysts predict continued growth in PSU banks due to consolidation efforts, credit growth, and improved asset quality. PSBs like UCO Bank and Punjab & Sind Bank have seen impressive returns of over 187% and 148%, respectively. Bank of Maharashtra and Central Bank of India have also seen significant gains, rising 126.12% and 92.72%, respectively. The Nifty PSU Bank Index, which tracks PSB performance, has surged by 52% over the past year, surpassing the Nifty Bank Index’s 12% gain in the same period.

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Nifty above 19,700, Sensex up 385 points; gains in capital goods, real estate, and banks

Force Motors announces August production of 3,032 automobiles.

Power Mech Projects climbs more than 2% after receiving a Rs 625 crore order.

Hitachi Energy India rises nearly 4% after receiving an order.

Quant Mutual Fund invests Rs 86 crore in JM Financial, while Valiant Mauritius Partners sells 0.8% of its holding.

Baring Private Equity sells Rs 34.7 crore in PG Electroplast shares.

Small Cap World Fund and New World Fund sell Rs 884.43 crore in Shriram Finance shares.

Nazara Technologies will offer 57.42 lakh preferential shares to SBI Funds at Rs 714 per share.

Cochin Shipyard Large Trade | According to CNBC-TV18, 8.6 lakh shares (0.7 percent e

Data from China | Exports were down 8.8% in August, while imports were down 7.3% year on year.

Indian Railways awards Responsive Industries a contract for the Garib Rath Initiative.

CNBC-TV18 reported that Bikaji Foods International Large Trade | 14.1 lakh shares (0.6 percent equity) worth Rs 71.3 crore change hands at Rs 507 per share.

PVR INOX stock rises as SRK’s ‘Jawan’ hits theaters, and the industry anticipates a blockbuster opening.

L&T rises on rumours of a possible order from Saudi Aramco for a gas project.

Varroc Engineering to acquire a 26% share in AMP Energy SPVs TCS forms strategic cooperation with JLR’s digital unit

Tata Motors August Auto Sales | JLR UK sales are down 23.6% year on year at 1,479 units versus 1,935 units.

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