Stock Markets Live : NIFTY50 & SENSEX hold morning gains; IT stocks shed gains in the mid market session
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5 mins read | Updated on September 27, 2024, 12:44 IST
SUMMARY
Indian benchmark indices continued to trade in green in the mid-market session. The NIFTY50 trades marginally higher at 26,215 levels, while SENSEX trades a little away from the 86,000 mark at 85,922 levels.
NIFTY50 & SENSEX continued is expected to continue its record rally on Friday
Shree Renuka Sugars, Balrampur Chini Mills: Sugar stocks rally over 7.5%
Among individual names, Shree Renuka Sugars was trading 7% higher at ₹51.50 apiece on the BSE, while Triveni Engineering and Industries was trading nearly 4% higher at ₹489.80. Balrampur Chini Mills was trading around 7.5% higher at ₹658.50.
The rally comes after, Food Minister Pralhad Joshi said on Thursday that the government is considering increasing the ethanol price for the 2024–25 season as well as the minimum selling price of sugar. Read moreSeptember 27, 2024, 12:41 PM
Infosys, TCS, HCL Tech: IT stocks zoom as Accenture posts encouraging Q4 results
Shares of IT services companies such as Infosys, TCS, HCL Tech, Tech Mahindra, and Wipro, among others, were trading with impressive gains on Friday, September 27, a day after global IT giant Accenture unveiled its financial results for the fourth quarter and full fiscal year ended August 31, 2024.
The company, which follows the September–August financial year, has upped its revenue guidance for financial year 2025 in the range of 3–6%, even as the company missed its FY24 growth target. Accenture provided guidance for FY25 that is higher than its FY24 guidance of 1.5% to 2.5%. Read moreSeptember 27, 2024, 11:01 AM
NIFTY50 and SENSEX open in positive territory; Wipro, Infosys and LTIM among top gainers
Indian benchmark indices embark on new record rally as NIFTY50 and SENSEX opened higher on Friday. On the contrary, NIFTY midcap and small-cap indices continue to underperform the benchmark indices.
The NIFTY IT index is the top sectoral gainer leading with 2.7% gains on the Friday morning after encouraging Accenture PLC results. Following the hike in guidance provided by Accenture major IT stocks like Wipro, Infosys and LTIMindtree are trading nearly 3% higher on Friday.On the flip side, Power Grid Corp, L&T, Bharti Airtel are among the top losers on Friday morning.
September 27, 2024, 09:47 AM
Trade Setup for Sept 27: NIFTY50 bullish momentum hinges on weekly close above 26,000
Both the NIFTY50 and BANK NIFTY are forming a bullish candle on the weekly chart, indicating a strong close. However, for confirmation of the bullish continuation, traders are advised to watch to closely monitor the closing price and plan their strategies accordingly.
The NIFTY50 index moved out of its three day consolidation and extended the bullish momentum for the sixth consecutive day. The index the September series of its futures and options contracts on the positive note and ended above the 26,200 mark, led by strong buying in metals and automobile stocks.
On the weekly chart, the index has rallied 6% in last three weeks and has formed three strong bullish candles in a row. It is currently forming a bullish candle on the weekly chart and implying a close above previous week’s high. In this scenario, traders can closely monitor the price action around weekly close. A close above the 25,850 and 26,000 zone will signal continuation of the bullish momentum, while a close below this zone will imply weakness and consolidation in the coming week.
September 27, 2024, 09:15 AM
