Stock Market LIVE: Sensex Gains Over 400 Points, Nifty Trades Near 24,800; BEL, Eternal Top Gainers

The Nifty 50 and Sensex were trading 0.44% and 0.51% higher, respectively, as of 10:45 am. Follow NDTV Profit's live blog for the latest update on stock movement, analysts' view and more.

The NSE Nifty 50 and BSE Sensex advanced after six-day losing streak. (Photo: Envato)

Good morning, welcome to NDTV Profit's live blog for real-time market coverage. The NSE Nifty 50 and BSE Sensex were trading higher, tracking a rise in HDFC Bank and Eternal shares. The Nifty 50 will face a strong resistance level at 25,00. For now, the next hurdle for the index is at 24,800. BEL share price advanced. Swan Defence share price increased.

F&O: Nifty September Future Rises 

  • The Nifty September future rose 0.5% to 24,9835 with a premium of 171 points.

  • The Nifty Sept 30 Expiry: Most Call Open Interests are at 25,000 strike price. The most Put OIs are at 24,700.

Stock Market LIVE: BEL Shares Gain After Rs 30,000-Crore Missile Deal; Motilal Oswal Sees 24% Upside

Shares of Bharat Electronics Ltd. rose during early trade on Monday after media reports said the Indian Army issued a tender worth Rs 30,000 crore to buy missile defence systems.

The army will acquire five to six regiments of 'Anant Shastra' surface-to-air missiles to strengthen air defence along India's long borders with Pakistan and China, news agency ANI reported.

Also Read: Bharat Electronics Shares Gain After Rs 30,000-Crore Missile Deal; Motilal Oswal Sees 24% Upside

Volume Buzzers: ITC, Eternal, Tata Steel Most Active In Nifty 50 

  • Eternal Ltd.'s total traded volume on NSE is 7.87 tiomes 30-day average volume as of 10:39 a.m.

  • ITC Ltd.'s total traded volume on NSE is 7.77 times 30-day average volume.

  • Tata Steel Ltd.'s total traded volume on NSE is 6.43 times 30-day average volume.

Stock Market LIVE| Stock Market Today: Wockhardt Rebounds From Friday's Slump; Stock Surges 9%

Shares of Wockhardt Ltd. has surged in trade on Monday, registering gains of more than 9% following positive cues on the tariff front. The shares reached an intraday high of Rs 1,458. The stock had declined 10.2% on Friday.

The stock was currently trading at Rs 1,456 compared to Friday's closing price of Rs 1,336 as of 10:22 p.m. and over a 12-month period, Wockhardt Pharma shares have risen almost 50%.

Also Read: Wockhardt Rebounds From Friday's Slump; Stock Surges 9% — Here's Why

Nifty,Sensex| Sectoral Performane: Nifty Oil & Gas Leads Gains

On National Stock Exchange, 14 sectoral indices advanced and one remained flat out of 15. The NSE Nifty Oil & Gas emerged as the top gaier while the NSE Nifty FMCG emerged as the worst performing sector.

Stock Market LIVE: Nifty Top Gainers & Losers As Of 10:18 AM

Stock Market Today| Stock Market LIVE: Servotech Renewable Power System

Servotech Renewable Power System received order worth Rs 13 crore for 3 MWp solar rooftop project from Northern Central Railway – Agra Division.

Stock Market LIVE: Swan Defence Extends Rally, Locks In Upper Circuit on Royal IHC Deal

The shares of Swan Defence and Heavy Industries Ltd., was up 5% and locked in the upper circut as the scrip extended its rally last week. The counter saw an uptick in buying after the company signed an exclusive Memorandum of Understanding with European offshore oil and gas vessel leader Royal IHC.

Also Read: Swan Defence Extends Rally, Locks In Upper Circuit On Royal IHC Deal

Stock Market Today: PC Jeweller Share Price Rises 

PC Jewellers share price rose 1.89% to Rs 12.38 apiece. The stock price was trading 1.23% higher at Rs 12.28 apiece as of 9:59 a.m.

Nifty Sensex Today| Stock Market LIVE: Dollar Industries Shares Jump On Merger Plan To Consolidate Promoter Group Entities

Dollar Industries Ltd's share price rose 8% on Monday after the company announced a proposed merger of nine promoter group companies into the listed entity.

Post-merger approval, the promoter and promoter group shareholding is expected to increase from 72.21% to 73.60%.

Also Read: Dollar Industries Shares Jump On Merger Plan To Consolidate Promoter Group Entities

Expert's View: Nifty Has Formed Bull Trap

"For traders, 24,800/81200 would act as a key level to watch. Below this, the correction wave is likely to continue. On the downside, the market could retest the levels of 24,500/80,300. Further declines may also occur, potentially dragging the index down to 24,350/79800, 24,300/79,600. Conversely, above 24,800/81,200, a pullback formation could continue up to 25,000-25,100/81,800-82,200."
Shrikant Chouhan, Head, Equity Research, Kotak Securities
"The Nifty has formed a bull trap. The index is moving toward the lower band of the range, ie 24,550-24,350. The mid-term range for the market is 25,200-24350 on the higher side, and 24,550-24,350 on the lower side."
Emkay Global Research

Stock Market LIVE: Reliance Power Sells Indonesian Unit For $12 Million

Reliance Power Ltd. sold Indoensian step-down subsidiaries for $12 million, the company said in the exchange filing.

Stock Market Today|Stock Market LIVE: BEL Share Price Rises 

Bharat Electronics Ltd. share price rose 2.49% to Rs 405.75 apiece. The company received additional orders worth Rs 712 crore since last disclosure on Sept. 1.

Stock Market LIVE: Wheels India In Pact With Hydraulics Cylinder 

Wheels India is in technical pact with South Korean firm Hydraulics Cylinder Business, the company said in the exchange filing.

Stock Market LIVE: BofA Downgrades L&T 

  • Downgrade to Underperform from Buy with a target price at Rs 3,700

  • Outperformance leaves little upside potential

  • RoE expansion efforts conclude

  • Domestic capex losing steam

  • Lower crude prices a risk for Middle-East business

Sectoral Performance At Open: Nifty Defence Outperforms

On National Stock Exchange, 12 sectoral indices advanced, two remained flat, and one declined out of 15.

Nifty Contributors: Eternal, RIL, M&M Support Gains In Nifty 50

Eternal Ltd., Reliance Industries Ltd., Mahindra & Mahindra Ltd., Bharat Electronics Ltd., and Infosys Ltd. added to the NSE Nifty 50 index.

HDFC Bank Ltd., Hindustan Unilever Ltd., Larsen & Toubro Ltd., Axis Bank Ltd., and Maruti Suzuki India Ltd. weighed on the Nifty 50 index.

Stock Market Open LIVE: Nifty, Sensex Rebound From Six-Day Slump

The NSE Nifty 50 and BSE Sensex opened higher on Monday tracking a rise in Reliance Industries Ltd., ICICI Bank Ltd., and Infosys Ltd. share prices. The indices were trading 0.07% and 0.16% higher, respectively as of 9:19 a.m.

LIVE: Yield On 10-Year Bond Opens Flat

  • The yield on the 10-year bond opened flat at 6.53%

Source: Bloomberg

LIVE: Rupee Opens Stronger Against US Dollar

  • Rupee opened 5 paise stronger at 88.67 against the greenback

  • It closed at 88.72 a dollar on Friday

Source: Bloomberg

Stock Market LIVE: MOFSL On BEL Order

  • The brokerage maintained a Buy with target price Rs 490, which implied a 24% upside

  • RFP issued for much-awaited QRSAM project

  • Order enhances co order book to more than Rs 1 lk cr

  • Expect execution to commence primarily from FY27 onward

  • Expect the award of missiles for QRSAM to flow through to Bharat Dynamics

  • Other order wins to be in focus:

  • Next-generation corvettes, electronics warfare

  • Follow-on orders for electronics for 97 Tejas Mk1A

Shares Of Atlanta Electricals To Debut Today; Check Latest GMP Ahead Of Listing

Shares of Atlanta Electricals will be listed on the BSE and NSE on September 29. The allotment of shares was made on September 25, while the subscription window was open from September 22 to September 24.

The issue was oversubscribed 70.63 times. It received bids for 46,17,87,742 shares against 65,38,439 offered.

Also Read: Shares Of Atlanta Electricals To Debut Today; Check Latest GMP Ahead Of Listing

Shares Of Ganesh Consumer Products To List At A Discounted Price? Check Latest GMP Ahead Of Market Debut

Ganesh Consumer Products Ltd.'s initial public offering (IPO) was subscribed 2.67 times on Wednesday. The allotment for the mainboard issue was finalised on Thursday.

Ahead of its listing on Monday, the unlisted shares of the company are in the news today after the latest grey market premium suggested a discounted listing for the Kolkata-based FMCG company.

Also Read: Shares Of Ganesh Consumer Products To List At A Discounted Price? Check Latest GMP Ahead Of Market Debut

Asia Market LIVE: Japan's Nikkei 225 Fall While South Korea's KOSPI Rise 

Markets in Japan declined while South Korea's KOSPI advanced on Monday. Most markets in Asia-Pacific region were trading on a mixed note.

The Nikkei 225 was trading 0.87% down, while the KOSPI was 0.66% higher as of 7:59 a.m.

IPO News: Ardee Industries Filed DRHP 

Ardee Industries filed draft red herring prospectus for initial public offer. The IPO includes fresh issue of shares worth Rs 320 crore and offer for sales of upto 3.77 crore shares.

Stock Market News: Baazar Style Opens Store At Phaphamau, UP

Baazar Style opened store at Phapamau, Uttar Pradesh. The store count is at 250 as on date, the company said in the exchange filing.

GIFT Nifty LIVE: Trades Higher 

The GIFT Nifty was trading 0.17% or 43 points higher at 24,814.50 as of 7:38 a.m.

Oil Prices Fall As Speculation For Another Output Hike From OPEC+ Increases

Oil prices fell over 1% in early trade on Monday as trader speculated that the Organization of Petroleum Exporting Countries and allies may go for another output hike in November. Oil supply from Iraq' Kurdistan region resume over the weekend, which further weighed on over supply concern.

The Brent crude was trading 0.88% down at $68.61 a barrel as of 7:35 a.m.

Also Read: Oil Prices Fall On Concerns Another OPEC+ Supply Boost Will Swell Glut

Asia Markets LIVE: Australia's S&P ASX 200 Rises As RBA Begins Policy Meet

Australia's S&P ASX 200 rose in early trade on Monday as the Reserve Bank of Australia began its two-day policy meeting. The central bank is expected to keep the cash rate unchanged.

The S&P ASX 200 was trading 0.64% higher at 8,843.70 as of 7:30 a.m.

Also Read: US Stock Futures Advance, Oil Declines On OPEC+: Markets Wrap

LIVE: GIFT Nifty Hints At Positive Open; BEML, Sula Vineyards, HUL, Dixon Tech Shares In Focus

The GIFT Nifty was trading 0.52% or 129.50 points higher at 24,834.50 as of 6:31 a.m. This hinted that the NSE Nifty 50 may open higher on Monday.

Traders will likely keep an eye on BEML Ltd., G R Infraprojects Ltd., Sula Vineyards Ltd., Shriram Finance Ltd. share prices for Monday's session.

The NSE Nifty 50 and BSE Sensex ended sharply lower and posted decline for sixth straight day. The indices ended 0.95% and 0.90% lower, respectively, on Friday.

Also Read: Trade Setup For Sept 29: Nifty To Retest 24,500 Levels

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WRITTEN BY
Ananya Chaudhuri
Ananya Chaudhuri covers financial markets news and trends at NDTV Profit. S... more
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