Indices at previous closing
Nifty50:17,711 ▼-37 (0.2%)
Sensex:59,413 ▼-254 (-0.4%)
Nifty Bank: 37,945 ▼ -202 (-0.5%)
For more updates on F&O, click here.
In the news
Bharti Airtel’s credit rating upgraded
CRISIL has upgraded its ratings for telecom player Bharti Airtel’s bank facilities and debt program. The upgrade in ratings is a reflection of Airtel’s improving operating metrics, which has led to a healthy financial risk profile, said CRISIL.
The telecom player’s credit profile is expected to improve further due to better cash accruals and deleveraging plans such as the rights issue. Yesterday, the shares of Airtel were down 0.5% but are up around 4.5% this month.
Sun pharma breaks out of consolidation
Shares of India’s largest pharma company rose 4.5% yesterday coupled with high volumes indicating strong investor interest. It was one of the top gainers in the Nifty50 pack and the share price broke out of a consolidation seen over the last two months.
The company has launched a novel cough formulation, Chericof 12 in India. It is manufactured using Polistirex technology gives relief upto 12 hours due to sustained release of the drug. The syrup is approved for patients of the age group six years and above.
Power stocks gains as electricity demand surges
In a reflection of the revival of the economy, India's electricity demand reached its peak since July 2019. With climbing demand and a decline in coal stockpiles over the past year, the power demand is set to climb higher next month.
Meanwhile, the BSE Power Index was up 3.5%yesterday and within the power sector Tata power (+8.1%),NTPC (+6.4%), Coal India (+6.2%) and Powergrid (+5.6%) were among the top gainers.
Sectoral indices (September 29)
| Top gainers | Top losers |
| Nifty PSU Bank ▲ 2.72% |
Nifty Fin Service ▼ 0.8% |
| Nifty Metal ▲ 2.29% |
Nifty Bank ▼ 0.5% |
Global markets (at 8:00 am)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.2% |
| Nikkei 225 (Japan) |
▼ 0.3% |
| Hang Seng (Hong Kong) |
▼ 0.7% |
| SSE Composite (China) | ▲0.5% |
| Dow Jones (US) (September 29) |
▲0.2% |
| NYSE (US) (September 29) |
▲0.0% |
| Nasdaq (US) (September 29) |
▼ 0.1% |
| S&P 500 (US) (September 29) |
▲ 2.0% |
Fact of the day
Since 2004, Google has acquired more than 200 companies.
Yay 👍 or Nay 👎?
We'd love your thoughts on this morning update.
If you haven't already, open your Upstox account to get IPO-ready today! Click here to sign up.
To catch our latest educational videos, join our Telegram channel here.
Disclosures and Disclaimer
Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
Download the Upstox App Today