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Sensex Ends 259 Points Higher; Healthcare, Realty and Automobile Stocks Witness Buying
Wed, 16 Sep Closing | Yash Vora, TM Team

After opening the day on a flat note, Indian share markets witnessed most of the buying interest during closing hours today and ended higher.

Benchmark indices edged higher, ahead of the outcome of a two-day policy meeting of the US central bank. Hopes of an early vaccine also improved sentiment.

At the closing bell, the BSE Sensex stood higher by 259 points. Meanwhile, the NSE Nifty stood higher by 83 points.

M&M and Bajaj Auto were among the top gainers today. IndusInd Bank, on the other hand, was among the top losers today.

SGX Nifty was trading at 11,566, up by 39 points, at the time of writing.

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The BSE Mid Cap index ended up by 0.2%. The BSE Small Cap index ended up by 0.4%.

Sectoral indices ended on a positive note with stocks in the realty sector and auto sector witnessing maximum buying interest.

Asian stock markets ended on a mixed note. As of the most recent closing prices, the Hang Seng ended down by 0.1% and the Shanghai Composite stood lower by 0.4%. The Nikkei ended up by 0.1%.

US stock futures are trading higher today, indicating a positive start for Wall Street indices.

Nasdaq Futures are trading up by 63 points (up 0.5%), while Dow Jones Industrial Average Futures are trading up by 71 points (up 0.3%).

The rupee is trading at 73.52 against the US$.

Gold prices are currently trading up by 0.3% at Rs 51,920.

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Domestic gold and silver prices traded in a narrow range ahead of the US Fed decision. The US Fed will today announce its policy decision in its first meeting since adopting a more accommodative approach to inflation and pledging to keep interest rates low for longer.

In the previous session, gold had edged 0.2% higher at Rs 51,770 per 10 grams while silver had slipped 0.2%.

Over last three weeks, gold is trading in a narrow range since hitting record highs of Rs 56,200 last month.

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As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

Even with the recent volatility in prices, gold and silver remain among the best performing commodities this year to combat the fallout from the coronavirus pandemic.

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Moving on to stocks specific news...

Reliance Industries and Reliance Industries PP were among the top buzzing stocks today.

Shares of Reliance Industries along with its partly paid shares continued their upward movement with the market price of both these stocks hitting a fresh record high on the BSE.

Reliance Industries PP share price hit a new high of Rs 1,469.95, and has more-than-doubled from its closing price of Rs 689 on listing day (June 15, 2020).

In news from the pharma sector, shares of JB Chemicals surged 10% intraday today, thereby surging as much as 19% in the past two trading days after the company reported strong earnings driven by growth in exports, API, and chronic therapies in the domestic market.

The company's consolidated net profit for the quarter ended June 2020 (Q1FY20) nearly doubled to Rs 1,190 million.

Sales during the quarter grew 18.4% at Rs 5.2 billion against Rs 4.4 billion in the corresponding quarter of the previous fiscal.

Earlier in July, global investment firm KKR & Co. Inc entered into an agreement to acquire 41.7 million equity shares of JB Chemicals, representing 54%, from the promoters of the company.

As part of the deal, KKR acquired the stake from the founding Mody family at Rs 745 per share.

JB Chemicals share price ended the day up by 8.2%.

In other news, Procter & Gamble Health share price slipped 6% today on profit booking. The company reported 10.8% year on year (YoY) growth in net profit at Rs 489 million for June quarter.

The pharma company reported 11% YoY decline in sales at Rs 2 billion, as the business operations got impacted across the country following the nationwide lockdown imposed to contain the spread of Covid-19.

The board of directors of the company recommended a final dividend of Rs 230 per equity share for the financial year ended June 30, 2020.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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Stock Market Updates

SADBHAV ENGINEERING Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.6% (Today's Market)

Oct 23, 2020 03:16 PM

SADBHAV ENGINEERING share price is trading up by 5% and its current market price is Rs 51. The BSE CAPITAL GOODS is up by 0.6%. The top gainers in the BSE CAPITAL GOODS Index is SADBHAV ENGINEERING (up 5.1%). The top losers are LAKSHMI MACHINE and BHARAT ELECTRONICS (down 0.8%).

OBEROI REALTY Share Price Down by 5%; BSE REALTY Index Down 0.9% (Today's Market)

Oct 23, 2020 03:16 PM

OBEROI REALTY share price is trading down by 5% and its current market price is Rs 482. The BSE REALTY is down by 0.9%. The top gainers in the BSE REALTY Index are MAHINDRA LIFESPACE (up 1.6%) and GODREJ PROPERTIES (up 0.7%). The top losers is OBEROI REALTY (down 5.3%).

GRINDWELL NORTON Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.8% (Today's Market)

Oct 23, 2020 03:06 PM

GRINDWELL NORTON share price is trading up by 5% and its current market price is Rs 570. The BSE CAPITAL GOODS is up by 0.8%. The top gainers in the BSE CAPITAL GOODS Index is GRINDWELL NORTON (up 5.2%). The top losers are BHARAT ELECTRONICS (down 0.3%) and THERMAX (down 0.4%).

APL APOLLO TUBES at All Time High; BSE CAPITAL GOODS Index Up 0.9% (Today's Market)

Oct 23, 2020 02:26 PM

APL APOLLO TUBES share price has hit an all time high at Rs 3,045 (up 2.5%). The BSE CAPITAL GOODS Index is up by 0.9%. Among the top gainers in the BSE CAPITAL GOODS Index today are APL APOLLO TUBES (up 2.5%) and HONEYWELL AUTOMATION (up 0.3%). The top losers include BHARAT ELECTRONICS (down 0.3%) and THERMAX (down 0.5%).

CENTRAL BANK Share Price Up by 7%; BSE BANKEX Index Down 0.1% (Today's Market)

Oct 23, 2020 02:24 PM

CENTRAL BANK share price is trading up by 7% and its current market price is Rs 11. The BSE BANKEX is down by 0.1%. The top gainers in the BSE BANKEX Index is CENTRAL BANK (up 6.8%). The top losers are SBI (down 0.2%) and FEDERAL BANK (down 0.4%).

Sensex Trades 120 Points Higher; Dow Futures Down by 47 Points (Today's Market)

Oct 23, 2020 12:30 pm

BSE Sensex is trading up by 120 points, while the NSE Nifty is trading up by 53 points.

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