September 16, 2024
New Delhi, India
Stock Market Today
Benchmark indices BSE Sensex and NSE Nifty50 closed a choppy session on a positive note on September 16, 2024. The Sensex gained 97.84 points or 0.12%, finishing at 82,988.78, while the Nifty50 climbed 27.25 points or 0.11% to end at 25,383.75, after hitting a record high of 25,445.70 during intra-day trade.
Key Highlights:
- Top Nifty gainers included NTPC, Hindalco, JSW Steel, Shriram Finance, and Larsen & Toubro, while Bajaj Finance, Hindustan Unilever, Bajaj Finserv, SBI Life Insurance, and Britannia Industries were the biggest laggards.
- In the BSE Sensex, Bajaj Finance, Hindustan Unilever, and Adani Ports saw declines of up to 3.36%, while NTPC, JSW Steel, and Larsen & Toubro led the gainers.
- Bajaj Housing Finance made a blockbuster debut, surging 135.70% from its IPO issue price of ₹70, hitting the upper circuit of ₹135.7 on the BSE. The stock was listed at ₹150, a 114.28% premium.
Also Read: SEBI Withdraws Statement on Employee Protest, Promises Internal Resolution
Sector Performance:
- Sectors like media, metal, financial services, and private banks finished higher, gaining up to 1%.
- On the other hand, IT, FMCG, and select financial services sectors saw declines of up to 0.72%.
Also Read: Best IPO Debut: Bajaj Housing Finance IPO Lists at 114% Premium
Broader Indices:
- The Nifty Midcap100 reached an all-time high of 60,408.25, closing at a record 60,259.75, up 0.38%.
- The Nifty Smallcap100 also ended the session positively, gaining 0.16%.
Also Read: Adani Power and Adani Green Energy Shares Surge 5% on Major Power Supply Contracts
Global and Domestic Factors in Focus:
- Investors are keeping a close watch on the U.S. Federal Reserve’s rate decision on September 18, which could influence foreign investment. Analysts are speculating a 25 basis points rate cut, with some anticipating an even larger reduction.
- Other global factors, such as Japan’s inflation and the Bank of Japan’s policy announcement, along with domestic data on WPI inflation and foreign fund inflows, will shape market sentiment this week.
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With multiple IPOs, including Kross Ltd and Tolins Tyres, hitting the market and Bajaj Housing Finance stealing the spotlight, it’s set to be an active week on Dalal Street.
Disclaimer:
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