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The equity benchmark indices Sensex and Nifty ended the day with gains after the US Federal Reserve cut its key interest rate by 25 basis points and signalled the possibility of two additional rate reductions this year.
At close, the Sensex was up 320.25 points or 0.39 percent at 83,013.96, and the Nifty was up 93.35 points or 0.37 percent at 25,423.60. About 2019 shares advanced, 1962 shares declined, and 158 shares remained unchanged.
On the sectoral front, the IT index up 0.8 percent, the pharma index rose 1.5 percent, the metal index rose 0.3 percent, and the private bank index rose 0.4 percent, while the energy, media, and Capital Goods indices shed 0.3 percent each.
HDFC Life, Infosys, Eternal, Cipla, Sun Pharma were among the major gainers on the Nifty, while losers were Coal India, Bajaj Finance, Trent, Tata Motors, UltraTech Cement.
Among the broader market indices, the BSE Midcap index rose 0.3 percent, and the smallcap indices ended flat.
STOCKS TODAY
Poonawalla Fincorp
Shares of Poonawalla Fincorp hit 12.32 percent higher on September 18 amid the promoter increasing its stake after a Rs 1,500-crore fund infusion. The board has approved the issuance of 3.31 crore shares to the promoter Rising Sun Holdings Pvt. Ltd. The fund infusion was done at Rs 452.51 per share.
Cohance Lifesciences
Shares of Cohance Lifesciences came under sharp pressure, tumbling almost 6 percent after a large block deal hit the exchanges. Around 3.39 crore shares, translating to 8.9 percent equity worth Rs 3,073 crore, changed hands in early trade.
CDSL
Shares of Central Depository Services (India) Ltd gained 1.24 percent on September 18 after Motilal Oswal Financial Services initiated coverage on its peer National Securities Depository Ltd (NSDL) with a ‘neutral’ rating.
Infosys
Shares of Infosys went up 1.20 percent along with other IT companies, after the US Federal Reserve cut its interest rate for the first time since December 2024. The sharp rise in the share prices pushed the Nifty IT index higher to emerge as the top sectoral gainer on the market today.
Biocon
The shares ended 4.25 percent higher after the company’s subsidiary, Biocon Biologics, said that the US Food and Drug Administration (FDA) has approved Bosaya 60 mg/mL injection for subcutaneous use in a single-dose prefilled syringe (PFS), and Aukelso 120 mg/1.7 mL (70 mg/mL) injection for subcutaneous use in a single-dose vial.
Dreamfolks Services
Shares of Dreamfolks Services Ltd hit 5% lower circuit for the second consecutive session after the firm, which has been facing certain headwinds, discontinued the domestic airport lounge services.
Source – Money Control