Share Market HIGHLIGHTS: Sensex finishes 796 pts lower, Nifty slips to 19,901; all sectors bleed; HFDC Bank falls 4%, JSW Steel down 3%
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex closed on Wednesday, September 20, with deep cuts as bears took over Dalal Street amid selling in blue-chips such as HDFC Bank and Reliance Industries (RIL). HDFC Bank slipped after the lender, in its Analyst Meet, said that its net interest margin (NIM) will stay under pressure in the near term. All counters on the sectoral front bled. Globally, the US Fed will announce the policy decision later in the day, which also dragged the index.
At close, the S&P BSE Sensex was down 796 points, or 1.18 per cent at 66,800.84, and the NSE Nifty was down 231.9 points, or 1.15 per cent, at 19,901.4 levels. In the broader market, the Nifty Mid Cap 100 and Small Cap 100 also closed in negative territory. On the sectoral front, Nifty Bank was down 1.29 per cent at 45,384.6 levels.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog.
Share Market HIGHLIGHTS: Domestic equity benchmarks Nifty 50 and Sensex closed on Wednesday, September 20, with deep cuts as bears took over Dalal Street amid selling in blue-chips such as HDFC Bank and Reliance Industries (RIL). HDFC Bank slipped after the lender, in its Analyst Meet, said that its net interest margin (NIM) will stay under pressure in the near term. All counters on the sectoral front bled. Globally, the US Fed will announce the policy decision later in the day, which also dragged the index.
At close, the S&P BSE Sensex was down 796 points, or 1.18 per cent at 66,800.84, and the NSE Nifty was down 231.9 points, or 1.15 per cent, at 19,901.4 levels. In the broader market, the Nifty Mid Cap 100 and Small Cap 100 also closed in negative territory. On the sectoral front, Nifty Bank was down 1.29 per cent at 45,384.6 levels.
Catch minute-by-minute updates of all the action in the Indian share market today, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations only on Zeebiz.com's blog.
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Share Market HIGHLIGHTS: Sensex finishes 796 pts lower, Nifty slips to 19,901
Nifty
Nifty slips to 19,901, down 1.15 per cent.
Source: NSE
Sensex
Sensex finishes 796 points lower at 66,801.
Source: BSE
Share Market HIGHLIGHTS | HDFC Bank, JSW Steel, RIL emerge as top losers in 50-scrip blue-chip basket
HDFC Bank, JSW Steel, RIL and BPCL are among the top losers in the Nifty basket, down nearly 4-2 per cent. On the other hand, PowerGrid, Coal India, ONGC and Asian Paints are among the top gainers, trading with gains of up to 2.5% per cent.
Source: NSE
Share Market Today LIVE | TCS, Coal India, PowerGrid, other stocks hit 52-week highs
As many as 21 stocks in the BSE 500 basket — the broadest index on the bourse — reached the milestone.
| Stock | CMP | 52 Weeks High | Previous 52 Weeks High(Price/Date) | All Time High(Price/Date) |
| APARINDS | 5,452.40 | 5,740.00 | 5,353.20 (21 Aug 2023) | 5,740.00 (20 Sep 2023) |
| APLLTD | 778.25 | 825 | 799.00 (12 Sep 2023) | 1,150.00 (18 Dec 2020) |
| AXISBANK | 1,027.40 | 1,047.45 | 1,031.40 (15 Sep 2023) | 2,042.95 (23 Jul 2014) |
| BALKRISIND | 2,547.10 | 2,577.80 | 2,568.55 (01 Aug 2023) | 2,724.40 (23 Sep 2021) |
| BANKINDIA | 106.1 | 114.02 | 113.64 (18 Sep 2023) | 588.00 (07 Oct 2010) |
| BERGEPAINT | 744.7 | 759.15 | 747.45 (18 Sep 2023) | 872.00 (22 Jul 2021) |
| BLUESTARCO | 909 | 945.8 | 825.95 (18 Sep 2023) | 1,554.40 (14 Jun 2023) |
| COALINDIA | 284.45 | 288 | 284.90 (11 Sep 2023) | 447.25 (05 Aug 2015) |
| INDUSINDBK | 1,441.30 | 1,475.50 | 1,466.90 (14 Sep 2023) | 2,037.90 (03 Aug 2018) |
| IOB | 43.86 | 48.65 | 47.40 (18 Sep 2023) | 228.90 (07 Jan 2008) |
| KIOCL | 308.05 | 322 | 314.55 (18 Sep 2023) | 506.45 (14 Nov 2017) |
| NIACL | 144.95 | 150.6 | 148.60 (15 Sep 2023) | 764.25 (30 May 2018) |
| NTPC | 242.1 | 245.9 | 244.95 (12 Sep 2023) | 291.00 (15 Jan 2008) |
| POWERGRID | 204.7 | 205.9 | 203.95 (12 Sep 2023) | 266.85 (31 Jul 2023) |
| SJVN | 81.95 | 83.69 | 83.18 (12 Sep 2023) | 83.69 (20 Sep 2023) |
| TCS | 3,609.00 | 3,625.00 | 3,618.95 (18 Sep 2023) | 4,045.50 (18 Jan 2022) |
| TRITURBINE | 435.55 | 454 | 448.95 (18 Sep 2023) | 454.00 (20 Sep 2023) |
| TVSMOTOR | 1,510.95 | 1,532.00 | 1,530.95 (18 Sep 2023) | 1,532.00 (20 Sep 2023) |
| UNIONBANK | 99.51 | 102.79 | 100.60 (18 Sep 2023) | 426.80 (27 Oct 2010) |
| VARROC | 494.6 | 515 | 482.40 (18 Sep 2023) | 1,177.45 (03 Sep 2018) |
| WELCORP | 399.6 | 404.3 | 403.50 (18 Sep 2023) | 537.70 (17 Jan 2008) |
Share Market Today LIVE | Ethnic apparel retailer Sai Silks’ IPO hits D-Street; should you apply for it?
Ethnic apparel retailer Sai Silks’ Rs 1,201 crore initial public offering (IPO) has opened for subscription on Wednesday, September 20. The bidding process for the public offer, comprising fresh issuance worth Rs 600 crore and an offer for sale (OFS) component of up to 2.7 crore equity shares by promoters and promoter entities, will conclude on Friday, September 22.
Here are a few important details to know about the Sai Silks IPO:
The basis of the allotment of shares is set to be finalised on September 27, and the credit of shares to the demat accounts of successful bidders is expected to be finalised on October 3. Sai Silks' shares are likely to be listed on the BSE and NSE on October 4. Read more
Share Market Today LIVE | NBCC shares gain 4% in the bearish market - Here's why
Shares of NBCC (India) Limited, formerly known as National Buildings Construction Corporation, gain as much as 4.25 per cent to Rs 61.20 apiece on the NSE on Wednesday, i.e., September 20. The surge in price came after NBCC won an order worth Rs 150 crore from the Khadi and Village Industries Commission (KVIC). According to an exchange filing, the order relates to "planning, designing, and execution of upcoming works such as construction of office building(s), residential campus, redevelopment, repair, and renovation of KVIC properties pan India etc." Read more
Share Market Today LIVE | Signatureglobal IPO hits D-Street; subscription status, issue price, other important details to know
Realty developer Signatureglobal has launched its initial public offer (IPO) on Wednesday, September 20, to raise up to Rs 730 crore. The public offer comprises fresh issuance of shares worth up to Rs 603 crore, and an offer for sale (OFS) worth up to Rs 127 crore by promoters and existing shareholders.
Signatureglobal IPO subscription status
So far on the first day of the bidding process, the Signature Global was subscribed an overall 22 per cent, with bids for 24.5 lakh shares in place against the 1.1 crore shares on offer, according to provisional exchange data. Read more
| Category | Reservation | Subscription (No. of times the equity reserved) |
| Qualified institutional buyers | 75% | Nil |
| Non-institutional investors | 15% | 43 |
| Retail investors | 10% | 58 |
| Overall | 22 | |
| Source: Exchange data | ||
Share Market Today LIVE | L&T buyback opens today; should investors tender their shares?
The much-talked-about share buyback offer by the engineering and construction major Larsen & Toubro (L&T) has opened today (September 18, 2023) and shall remain open until September 25. During this period, investors in the conglomerate have the option to surrender their shares and go home with substantial cash.
The buyback price stands at Rs 3,200, and the share offered for buyback is 3.12 crore. Read more
MARKET UPDATE: Nifty trades below 19,900
MARKET UPDATE: Sensex down 800 pts
EXPERT VIEW | Jaykrishna Gandhi, Head - Business Development, Institutional Equities, Emkay Global Financial Services
“Despite touching all time highs the nifty ended marginally down over the past five days. Valuations are increasingly getting a bit uncomfortable especially within the small and mid-cap space. The frontline market still seems one where buy on dips can be the preferred strategy. Consumer space, metals and select large cap banks can be the drivers of keeping the Nifty buoyant.
China on the other hand keeps taking measures to resurrect its economy, the latest being a 25bps cut in CRR in an attempt to increase the system wide liquidity. Driven by potential rebound in China, lower SPR and continued production cuts at Saudi has ensured Oil is now nearing $100/bbl. If Chinese economy surprises positively there is a high probability that Oil will breach the physiological $100/bbl mark which will be viewed negatively for Indian equities especially going into an election year.
On the US front, all eyes will be on the US FOMC meeting tonight. Any soft guidance can potentially drive risk sentiment globally and would be viewed as one that can be taken as slightly long term in nature.”
Share Market Today LIVE | Sensex tanks over 650 points, what should investors do now?
Commenting on the decline in benchmark indices, Parth Nyati, Founder at Tradingo said that both Nifty and Sensex experienced profit booking, largely attributed to a sharp sell-off in HDFC Bank following its analyst meeting. During the meeting, concerns were raised about potential margin pressure and the asset quality post-merger of HDFC twins.
"Additionally, global markets exhibited caution in anticipation of the upcoming FOMC meeting. Factors such as increasing US bond yields, rupee weakness, a surge in crude oil prices, and selling by foreign institutional investors (FIIs) further contributed to the challenges faced by our markets," he said.
"From a technical perspective, Nifty and Sensex have identifiable immediate support levels at 19,900 and 66,900, respectively. If these levels are breached, we may witness additional profit booking, potentially leading towards 19,640 for Nifty and 66,000 for Sensex," he added.
Dividend stocks | RVNL, Mazagon Dock Shipbuilders, Heidelberg Cement, Hindware home Innovation, Victoria mills among 40 shares trade ex-date
A total of 40 stocks traded ex-dividend on Wednesday, September 20, according to the BSE website. The list includes Bharat Dynamics, RVNL, Mazagon Dock Shipbuilders, Heidelberg Cement, Hindware home Innovation, Victoria mills, other stocks.
Bharat Dynamics dividend
Bharat Dynamics had announced a final dividend of Re 1.2 per equity share.
Mazagon Dock dividend 2023 record date
Mazagon Dock Shipbuilders had announced a dividend of Rs 6.86 per equity share.
SAIL dividend
SAIL had announced a final dividend of Re 0.5 per equity share.
RVNL dividend
Rail Vikas Nigam had announced a dividend of Re 0.36 per equity share.
Heidelberg Cement dividend
Heidelberg Cement had announced a dividend of Rs 7 per equity share.
Hindware Home Innovation dividend
Hindware Home Innovation had announced a dividend of Re 0.5 per equity share.
Victoria mills dividend
Victoria Mills had announced a dividend of Rs 50 per equity share. Read more
Share Market Today LIVE | Power Grid shares hit all-time high; Check brokerages' views and target prices
Shares of Power Grid Corporation of India surge as much as 2.47 per cent to hit an all-time high of Rs 205 apiece on the BSE on Wednesday, September 20, after the company, in its regulatory filing, informed that a meeting of the "Committee of Directors for Bonds" is scheduled to be held on September 25, 2023, to consider the issue of unsecured, redeemable, non-convertible, non-cumulative, taxable bonds as "POWERGRID Bond - LXXIV (74th) Issue" (Debenture) under private placement. Read more
Nifty Today LIVE | ITC, M&M, SBI among top movers in Nifty basket
HDFC Bank, RIL, ICICI Bank, Infy and Kotak Bank are among the top drags in the Nifty basket at this hour. On the contrary, Axis Bank, PowerGrid, NTPC and Bajaj Finance are the top movers.
Source: NSE