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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.

Important: Do You Own These 3 Stocks?

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.

Speaking of the precious yellow metal, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

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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You can also watch the podcast video here:

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

SAIL Share Price Up by 5%; BSE METAL Index Up 2.8% (Today's Market)

Sep 25, 2020 03:34 PM

SAIL share price is trading up by 5% and its current market price is Rs 34. The BSE METAL is up by 2.8%. The top gainers in the BSE METAL Index are SAIL (up 5.2%) and JINDAL STEEL & POWER (up 7.2%).

FORCE MOTORS Share Price Up by 5%; BSE AUTO Index Up 3.4% (Today's Market)

Sep 25, 2020 03:28 PM

FORCE MOTORS share price is trading up by 5% and its current market price is Rs 1,060. The BSE AUTO is up by 3.4%. The top gainers in the BSE AUTO Index are FORCE MOTORS (up 5.2%) and MOTHERSON SUMI (up 5.6%).

VODAFONE IDEA Share Price Up by 13%; BSE 500 Index Up 2.4% (Today's Market)

Sep 25, 2020 03:24 PM

VODAFONE IDEA share price is trading up by 13% and its current market price is Rs 10. The BSE 500 is up by 2.4%. The top gainers in the BSE 500 Index are VODAFONE IDEA (up 13.5%) and IFB INDUSTRIES LTD (up 11.9%). The top losers are OBEROI REALTY and BAJAJ HOLDINGS & INVESTMENT .

BAJAJ CONSUMER CARE Share Price Up by 5%; BSE FMCG Index Up 2.0% (Today's Market)

Sep 25, 2020 03:24 PM

BAJAJ CONSUMER CARE share price is trading up by 5% and its current market price is Rs 185. The BSE FMCG is up by 2.0%. The top gainers in the BSE FMCG Index are BAJAJ CONSUMER CARE (up 5.1%) and GSK CONSUMER (up 5.1%). The top losers are GILLETTE INDIA (down 0.5%) and EMAMI LTD (down 0.5%).

ADANI TRANSMISSION Share Price Up by 6%; BSE POWER Index Up 2.2% (Today's Market)

Sep 25, 2020 03:24 PM

ADANI TRANSMISSION share price is trading up by 6% and its current market price is Rs 250. The BSE POWER is up by 2.2%. The top gainers in the BSE POWER Index are ADANI TRANSMISSION (up 6.0%) and TATA POWER (up 5.5%). The top losers is SIEMENS (down 0.5%).

Indian Indices Trade Higher; HCL Tech, Bharti Airtel & TCS Up Over 4% (Today's Market)

Sep 25, 2020 12:30 pm

The BSE Sensex is trading up by 451 points, while the NSE Nifty is trading up by 127 points.

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