Indices at previous closing
Nifty50: 17,380 ▲+24 (+0.1%)
Sensex: 58,247 ▲+69 (+0.1%)
Nifty Bank: 36,613 ▲+141 (+0.3%)
In the news
HCL Tech rises on strategic tie-up
The IT major has signed a strategic partnership with HANCOM Inc which is a one of the leading software companies in South Korea. The partnership has been formed to share advanced software solutions and expand overseas.
HCL Tech’s management said that South Korea is a key strategic market for the company and the tie-up will help it to grow and establish itself in the region. HCL was one of the top gainers in Nifty50 yesterday with its shares rising by 2.3%.
PLI for auto sector in the offing
After clearing the Production Linked Incentive (PLI) scheme for the textile sector, the government is likely to announce the same for the auto sector. As per reports, a ₹26,000 crore scheme PLI could be announced today.
The scheme is a part of an overall PLI for 13 sectors with an outlay of ₹1.97 lakh crore. It is expected the PLI for the auto sector could focus more on battery electric and hydrogen fuel cell vehicles. Yesterday, the Nifty Auto index closed on a positive note with gains of almost 1%.
Oil prices at six-week high
The oil prices rose to their six-week high on Tuesday as hurricane Nicholas could result in floods and power outages in the US states of Texas and Louisiana. The storm is expected to impact oil platforms in the area and thereby hurting the supply.
At the same time, the International Energy Agency (IEA) has predicted a big rebound in demand as the vaccination drives, globally, could rekindle appetite for oil. Against this backdrop, US crude oil prices rose over $71 per barrel yesterday.
Sectoral indices (September 14)
| Top gainers | Top losers |
| Nifty Media ▲ 14.4% | Nifty Metal ▼ 0.5% |
| Nifty Pvt Bank ▲ 1.0% | Nifty FMCG ▼ 0.3% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.1% |
| Nikkei 225 (Japan) | ▼ 0.6% |
| Hang Seng (Hong Kong) | ▼ 1.2% |
| SSE Composite (China) | ▼ 0.3% |
| Dow Jones (US) (September 14) | ▼ 0.8% |
| NYSE (US) (September 14) | ▼ 0.8% |
| Nasdaq (US) (September 14) | ▼ 0.4% |
| S&P 500 (US) (September 14) | ▼ 0.5% |
Fact of the day
BlackRock is the world’s largest asset management firm with $9.5 trillion in assets under management (AUM). That is nearly 20 times the total AUM of the Indian mutual fund industry.
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