SENSEX, NIFTY hit record highs at open; Vodafone Idea up over 6%, Glenmark Pharma jumps 7%

At 9:20 AM, the 30-share index of the BSE was trading 232.72 points, or 0.28% higher at 84,777.03 levels, while the broader NIFTY50 was ruling at 25,882.25, up 91 points, or 0.35%. 

Top gainers and losers on the NSE

Shriram Finance, Bajaj Auto, Bharti Airtel, Divi's Lab, and M&M were the biggest gainers on the NSE, while ICICI Bank, IndusInd Bank, Hindalco, HCL Tech, and Infosys were the top losers. 

Stocks in news

Glenmark Pharma shares jumped over 8% as the pharma company announced that its formulation manufacturing facility located in Chhatrapati Sambhaji Nagar (Aurangabad), Maharashtra, has successfully cleared the US Food and Drug Administration (USFDA) inspection with zero observations.

The inspection was conducted from September 9 to September 20, 2024. In conclusion, the USFDA has issued Form 483 with zero observations.

The stock hit a high of ₹1763.90 in the early trade. 

Vodafone Idea shares were trading nearly 9% higher at ₹11.42 apiece on the BSE after the debt-ridden telco company on Sunday said it has awarded contracts worth about ₹30,000 crore to Nokia, Ericsson, and Samsung for supply of 4G and 5G network equipment for three years.

"Vodafone Idea has concluded a mega, about USD 3.6 billion (around ₹300 billion) deal with Nokia, Ericsson, and Samsung for supply of network equipment over a period of three years," it said.

Sectoral Watch

Last seen, all the sectoral indices but IT were trading with gains. The BSE IT index was trading flat. Telecom stocks were the biggest gainers, followed by oil and gas stocks. The BSE Telecommunication index was trading 2.54% higher at 3,234.53 levels.

Broader Market

The BSE MidCap index was trading 0.21% higher at 49,268.68 points, and the BSE SmallCap index was trading 0.51% higher at 57,371.51 points. 

Foreign Institutional Investors (FIIs) bought equities worth ₹14,064.05 crore on Friday, according to exchange data.

Global Markets

Asian stocks firmed on Monday ahead of central bank meetings that are widely expected to deliver two more rate cuts and key US inflation figures that should flash a green light for more easing there.

A holiday in Japan made for thin trading, and MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2% after bouncing 2.7% last week.

Tokyo's Nikkei was shut, but futures were trading at 38,530 compared to a cash close of 37,723. The index rallied 3.1% last week as the yen eased from its highs and the Bank of Japan (BOJ) signalled it was in no rush to tighten policy further.

In the commodity market, oil prices firmed further, having rallied around 4% last week on hopes lower borrowing costs would support global economic growth and demand. Brent added 40 cents to $74.89 a barrel, while US crude rose 39 cents to $71.39 per barrel.