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POST-MARKET REPORT
Benchmark indices Sensex and Nifty ended the trading session on a high on September 17 after a volatile start, driven by gains in telecom, banking, and construction stocks, while metal stocks dipped.
At close, the Sensex rose 80 points or 0.1 percent to 83,068, and the Nifty added 34 points, settling at 25,418.50. Market breadth was negative, with 1,616 stocks advancing, 2,176 declining, and 99 remaining unchanged.
In the Nifty 50 index, top gainers included M&M, NTPC, Bharti Airtel, Bajaj Auto, and Hero MotoCorp which gained 1-3 percent. Meanwhile, Tata Steel, Coal India, Adani Ports, Eicher Motors, and Tata Motors lagged, each falling by a percent.
Sector-wise, Nifty Auto, Infra, and Realty led the gains, rising 0.2-0.6 percent, while Nifty Metal cooled off after a three-day rally and fell by 0.4 percent. September 17 marked the fourth day of gain for the auto index.
Considering Broader markets, BSE Midcap and Smallcap indices remained flat, underperforming the benchmarks.
STOCKS TODAY
Bajaj Housing Finance: Share price shot up as much as 10 percent on Tuesday, September 17, hitting the upper circuit at Rs 181.5, continuing the momentum after a blockbuster IPO debut. Bajaj Housing Finance stock, which had already closed at Rs 165 on the listing day — up 135 percent from its IPO price of Rs 70.
DCX Systems: Shares of the company surged to an upper circuit of 5 percent after the company informed the exchanges that its wholly-owned subsidiary was granted an industrial license. The Industrial Licensing Section of the Office of the Development Commissioner of the Cochin Special Economic Zone (CSEZ), SEZs in Karnataka, and the Ministry of Commerce and Industry granted an industrial license.
Suzlon Energy: Suzlon Energy stock fell almost 4 percent on profit booking. Shares of renewable energy solutions provider Suzlon Energy have given multi-bagger returns of over 110 percent in just 3 months and have increased by 115 percent so far this year, as the stock sustains its positive momentum.
SpiceJet: Shares of air carrier fell nearly 7 percent as investors rushed to book profits The slump comes a day after the stock rallied as the company opened a Qualified Institutional Placement (QIP) to raise to Rs 3,000 crore at a floor price of Rs 64.79 per share.
Geojit Financial: Shares of the brokerage slumped over 8 percent even as the company’s Rights Issue Committee is scheduled to meet on September 19, 2024, to finalize key details regarding its upcoming rights issue. During the meeting, the committee will decide on crucial aspects such as the issue price, the rights entitlement ratio, and other related matters.
Reliance Infrastructure: The stock jumped over 9 percent on September 17 after the company announced the schedule of a board meeting to discuss raising long-term funds. The company has not disclosed the mode of fundraising, the amount the company is looking to raise, or its reasons.