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Market News

NIFTY hits record high, SENSEX up 100 pts; power, utility stocks jump

Upstox
By Upstox News Desk

3 min read | Updated on September 16, 2024, 10:40 IST

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SUMMARY

At 09:20 AM, the S&P BSE SENSEX was trading 135 points, or 0.16% higher at 83,025.95 levels. On the NSE, the broader NIFTY50 was ruling at 25,391.20, up 34.7 points, or 0.14%

Stock list

KRBL
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LTFOODS
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THERMAX
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DIXON
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The top five gainers on the NSE were Adani Enterprises, NTPC, Hindalco, Wipro, and Bajaj Finserv.

The top five gainers on the NSE were Adani Enterprises, NTPC, Hindalco, Wipro, and Bajaj Finserv.

Stock market today: Bulls had an upper hand in the opening session on Monday, September 16, as the benchmark indices opened in the green. 

At 09:20 AM, the S&P BSE SENSEX was trading 135 points, or 0.16% higher at 83,025.95 levels. On the NSE, the broader NIFTY50 was ruling at 25,391.20, up 34.7 points, or 0.14%. 

Later, the NSE benchmark jumped 89.2 points to hit a new record peak of 25,445.70.

On the SENSEX, Tata Steel (up 1%) was the biggest gainer, followed by NTPC and JSW Steel. On the other hand, Hindustan Unilever (HUL), down over 2%, was the top loser. Nestle was second on the list. 

Broader Market

The broader market was faring better than the benchmark indices. The BSE MidCap index was up 0.29% at 49,385.32 levels while the BSE SmallCap index was trading 0.56% higher at 57,446.87 points. 

Foreign Institutional Investors (FIIs) bought equities worth ₹2,364.82 crore on Friday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth ₹2,532.18 crore.

Stocks in news

Shares of rice companies such as KRBL and LT Foods were trading with gains after the government on Friday said the $950 per tonne minimum export price (MEP) on basmati rice has been removed.

Dixon Technologies was trading 1.8% higher at ₹13,254.15 on the BSE after Padget Electronics, a wholly-owned subsidiary of Dixon Technologies (India) Limited, entered into an MOU with Asus India for manufacturing of information technology products, i.e., notebooks.

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SpiceJet shares were trading over 3% higher at ₹74 apiece on the BSE after the airline on Friday said shareholders have given their nod for the special resolution for raising funds of up to ₹3,000 crore. The no-frills carrier, which is grappling with multiple woes, including financial challenges, legal battles, and grounding of aircraft, is looking to raise money that will help it meet various obligations.

Sector Watch

Power and utility stocks were trading with impressive gains in the early trade. The BSE Utilities index was up 1.38% at 6,454.56 levels while the BSE POWER index was trading 1.63% higher at 8,346.03 points. 

Top gainers and losers on the NSE

The top five gainers on the NSE were Adani Enterprises, NTPC, Hindalco, Wipro, and Bajaj Finserv. The top losers were HUL, Britannia, SBI Life, Hero MotoCorp, and Nestle India. 

Global Markets

Asian stocks made a cautious start on Monday in a week that is almost certain to see the start of an easing cycle in the United States, with the only question mark being the size of the cut, with markets split on the chance of an outsized move. Central banks in Japan and the UK also meet this week, with both expected to stand pat for now, while a packed data schedule includes US retail sales and industrial production.

Holidays in China, Japan, South Korea, and Indonesia made for thin conditions, and early moves were modest. MSCI's broadest index of Asia-Pacific shares outside Japan was nearly flat, after bouncing 0.8% last week.

With inputs from Reuters

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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