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Indian Indices At 5-Week High, North Korea Tensions Fade, and Top Stocks in Action
Wed, 13 Sep Pre-Open | Prasheel Vartak, TM Team

On Monday, share markets in India witnessed positive momentum throughout the day and ended on a 5-week high.

The BSE Sensex closed higher by 277 points to end at 32,159 while the broader NSE Nifty ended the day lower by 87 points to close at 10.93.

Among BSE sectoral indices, realty index rose the most by 2%, followed by pharma stocks 1.7%, and energy stocks 1.6%. Tata Steel, Sun Pharma, and Tata Motors were among the top gainers.

Top Stocks in Action Today

Divi's Lab share price is likely to be in focus today amid reports that the US Food and Drug Administration (USFDA) is in the process of inspecting its key facility. Notably, the stock ended yesterday's trading session up by 11.8%. According to media reports, the inspection started on Monday and is expected to conclude within a week.

The USFDA had issued an import alert in March and a warning letter in May for the unit under inspection. Plants on the FDA's import alert list cannot export drugs to the U.S.

Engineering major Larsen and Toubro will be among the stocks to watch today after the company's construction arm bagged orders worth Rs 25.3 billion. The orders include jobs totaling Rs 22.3 billion secured by the company's metallurgical and materials business. The company also won construction orders from power and transmission sectors.

Tata Steel share price is expected to be in focus again today after the stock hit its 52-week high yesterday. The optimism was on the back of the steel major settling its UK pension fund liability. Further, reports that a deal to merge the European steel operations of Tata Steel and ThyssenKrupp could be struck this month, after Tata removed a significant obstacle by offloading its UK retirement fund kept optimism high.

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HDFC Bank Becomes India's Second Most Valuable Company

HDFC Bank will also be in focus today after the private sector lender overtook India's largest software services company - Tata Consultancy Services (TCS) in terms of market capitalization as of yesterday's closing prices. This would make the bank India's second most valuable company with a market capitalization of Rs 4.7 trillion. However, this is not the first time that HDFC Bank has become the second-most valued company. On 11 November 2016, it achieved this milestone by beating Reliance Industries Ltd. As of yesterday's close Reliance Industries Ltd remains the country's most valuable company with a market capitalization of Rs 5.3 trillion.

Global Markets See Uptick as Irma and North Korea Concerns Fade

Financial markets worldwide traded on a positive note as concerns faded over the potential damage of Hurricane Irma and as North Korean tensions took a backseat. The positive sentiment came after the U.S. insisted that it is not looking for war with North Korea, despite joining other members of the United Nations Security Council in unanimously agreeing to step up sanctions against North Korea.

IPO Buzz

Online matchmaking service provider Matrimony.com kicked off its initial share sale offer. The initial public offering of the company was already oversubscribed by about 1.08 on the second day.

Matrimony.com is looking to raise Rs 1.3 billion through a fresh issue while an offer for sale (OFS) will be made for 3,767,254 equity shares at a price band of Rs 983-985 per share. The OFS is undertaken by the promoters and some of the investors, including private equity firms.

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Stock Market Updates

GUJ. STATE PETRONET Share Price Up by 5%; BSE 500 Index Up 1.4% (Today's Market)

Mar 2, 2021 03:31 PM

GUJ. STATE PETRONET share price is trading up by 5% and its current market price is Rs 262. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are GUJ. STATE PETRONET (up 5.2%) and GSK CONSUMER (up 5.1%). The top losers are BAYER CROPSCIENCE and LAURUS LABS.

GUJARAT PIPAVAV PORT Share Price Up by 12%; BSE REALTY Index Up 0.8% (Today's Market)

Mar 2, 2021 03:23 PM

GUJARAT PIPAVAV PORT share price is trading up by 12% and its current market price is Rs 114. The BSE REALTY is up by 0.8%. The top gainers in the BSE REALTY Index is GUJARAT PIPAVAV PORT (up 12.5%). The top losers are PRESTIGE ESTATES and PHOENIX MILL (down 0.2%).

STRIDES PHARMA SCIENCE Share Price Up by 5%; BSE HEALTHCARE Index Up 1.1% (Today's Market)

Mar 2, 2021 03:23 PM

STRIDES PHARMA SCIENCE share price is trading up by 5% and its current market price is Rs 878. The BSE HEALTHCARE is up by 1.1%. The top gainers in the BSE HEALTHCARE Index is STRIDES PHARMA SCIENCE (up 5.1%). The top losers are AJANTA PHARMA (down 0.4%) and CAPLIN POINT (down 0.4%).

JAGRAN PRAKASHAN Share Price Down by 7%; BSE 500 Index Up 1.3% (Today's Market)

Mar 2, 2021 03:23 PM

JAGRAN PRAKASHAN share price is trading down by 7% and its current market price is Rs 63. The BSE 500 is up by 1.3%. The top gainers in the BSE 500 Index are SYMPHONY (up 20.0%) and SHIPPING CORP (up 20.0%). The top losers is JAGRAN PRAKASHAN (down 7.4%)..

JK LAKSHMI CEMENT Share Price Up by 11%; BSE 500 Index Up 1.0% (Today's Market)

Mar 2, 2021 03:15 PM

JK LAKSHMI CEMENT share price is trading up by 11% and its current market price is Rs 438. The BSE 500 is up by 1.0%. The top gainers in the BSE 500 Index are JK LAKSHMI CEMENT (up 11.0%) and TTK PRESTIGE (up 11.1%). The top losers are CROMPTON GREAVES CONSUMER ELEC. and RAYMOND .

Sensex Trades Over 200 Points Higher; Dow Futures Down by 90 Points (Today's Market)

Mar 2, 2021 12:30 pm

BSE Sensex is trading up by 209 points, while the NSE Nifty is trading up by 76 points.

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