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POST MARKET
The Indian benchmark indices rebounded sharply on Tuesday, driven by gains in auto and realty shares amid hopes of progress in India-US trade talks and expectations of a US Federal Reserve rate cut.
At close, the Sensex was up 594.95 points or 0.73 percent at 82,380.69, and the Nifty was up 169.90 points or 0.68 percent at 25,239.10. About 2294 shares advanced, 1470 shares declined, and 131 shares were unchanged.
Except for FMCG, all other sectoral indices ended in the green with auto, realty, and telecom up 1% each.
Kotak Mahindra Bank, L&T, Maruti Suzuki, Bharti Airtel, and Tata Steel were among the major gainers on the Nifty, while losers were Shriram Finance, Bajaj Finance, Tata Consumer, Nestle, and Asian Paints.
Among the broader market indices, the BSE Midcap and smallcap indices rose 0.6% each.
STOCKS TODAY
MRF
Shares of the company went up 2.37 percent. This is amid the easing trade tensions between India and the US, optimism over the India-European Union trade deal, and expectations of rising festive demand following GST reforms boosted investor sentiment.
Redington
The shares of Redington surged almost 20 percent on September 16. This comes as investors anticipate bumper sales of Apple’s newly unveiled iPhone 17 in India. The company is a key distributor of Apple products in India. The company began distributing Apple products in India in 2007.
KPR Mill
Shares of the textile industry went up over 4.1 percent after rising hopes for trade talks between India and the US to resume. Brendan Lynch, a trade negotiator with the Office of the US Trade Representative (USTR) will be arriving today in India to discuss ‘trade issues’ between Washington and New Delhi.
JSW Infrastructure
The company’s shares went up 3.59 percent on September 16 as the company’s subsidiary, JSW Kolkata Container, has entered into a concession agreement with the Port Authority for a period of 30 years from the date of award.
Source – Money Control