Get App
WEEKLY MARKET REVIEW
This week, the BSE Sensex rose 1,707.01 points, or 2.10 percent, to finish at 82,890.94, while the Nifty50 index added 504.35 points, or 2.02 percent, to close at 25,356.50.
On September 12, the Nifty50 and BSE Sensex hit record highs of 25,433.35 and 83,116.19, respectively.
Among the broader indices, the BSE Smallcap index rose 2 percent, the Largecap index added nearly 2 percent, and the Midcap index jumped 1.5 percent.
On the sectoral front, except Oil & Gas (down 2.6 percent) all other sectoral indices ended in the green with Nifty FMCG, Nifty Information Technology, and Nifty Media indices gaining nearly 3 percent each.
During the week, foreign institutional investors (FIIs) bought equities worth Rs 15,199.6 crore, while domestic institutional investors (DIIs) bought equities worth Rs 2,444.19 crore. FII equity purchases so far this month stood at Rs 16,600.88 crore, and DIIs picked up equities worth Rs 7,990.18 crore.
GLOBAL MARKETS
Wall Street advances as traders’ bets rise for bigger Fed rate cut
Wall Street’s main indexes closed higher on Friday as investors honed in on the chance of a bigger interest rate cut by the Federal Reserve next week, with rate-sensitive small-cap stocks outperforming.
The Dow Jones Industrial Average rose 297.01 points, or 0.72%, to 41,393.78, the S&P 500 gained 30.26 points, or 0.54%, to 5,626.02 and the Nasdaq Composite gained 114.30 points, or 0.65%, to 17,683.98.
Asian stocks, bonds struggle for momentum ahead of US Jobs data
Stocks, bonds, and major currencies held to tight ranges Friday as traders prepared for US jobs data that will help determine the size of a Federal Reserve rate cut later this month.
Shares in Japan fluctuated, as the yen stabilized after a rally this week, while those in Australia were little changed. Futures for US equities slipped after the S&P 500 ended Thursday lower. Pre-opening trading of Hong Kong securities was shut Friday due to Super Typhoon Yagi.
STOCKS IN NEWS
Godfrey Phillips: Godfrey Phillips India shares surged as much as 11 percent and hit a record high of Rs 7,430.95 on September 13 in the run-up to the company’s board meeting to discuss the proposal for a bonus issue. The company stated that its board will meet on September 20 to approve the bonus issue in the ratio of 2:1, meaning two bonus shares will be issued for each share held.
Century Textiles: Shares of Century Textiles and Industries rose 5 percent to hit a fresh record high of Rs 2,925 on September 13. The upbeat sentiment comes after the Aditya Birla Group-owned company acquired the ownership rights of an approximately 10-acre leasehold land parcel in Worli, Mumbai from Wadia Group chairman Nusli Wadia for Rs 1,100 crore.
Gravita India: Shares of Gravita India Limited were trading 9 percent higher to Rs 2,538 in the afternoon of September 13 after over 6 lakh shares changed hands in trade, double the one-week and one-month average of 3 lakh shares each. The rise in volumes comes just a day after the company announced it acquired its first recycling unit in Europe.
Tata Motors: Shares of Tata Motors Ltd rose by over 2 percent to Rs 1,006 on September 13, extending gains for a second session in a row after Bank of America (BofA) and JPMorgan reaffirmed their bullish stance on the counter despite recent concerns surrounding the company. To be sure, the counter gets a much-needed breather after tanking for nine trading sessions in a row.
HPL Electric: Shares of HPL Electric surged over 2 percent to Rs 613 per share on September 13 after it secured a new order worth Rs 144 crore for the supply of smart meters and conventional meters. The company has yet to share further details about the order, such as the timeline or location.