Sensex Today | Stock Market Live Updates: Sensex, Nifty step back from record

By Street Asset On Sep 14, 2023 0 0

02:46 PM

Saudi-backed oil and gas driller ADES expected to price IPO at top of range

Oil and gas driller ADES Holding is expected to price its initial public offering (IPO) at the top of a range announced this week, one of the banks on the deal said on Thursday.

The company backed by Saudi Arabia’s PIF sovereign wealth fund is expected to price its shares at 13.50 riyals ($3.60), the bank said in a message to investors seen by Reuters.

ADES is set to raise as much as 4.57 billion riyals ($1.22 billion) from the sale of a 30% stake in the company through the public share sale.

02:44 PM

India is best performing market in September

India has become the best performing large market in September with 4.2 per cent gains, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
This move to record highs breaching the psychological 20000 mark on the Nifty has been achieved with an impressive 4.3 per cent rise in Bank Nifty, he said.

Since financials account for 32 per cent weightage in the Nifty, strength in financials, particularly the banks, can keep the Nifty resilient. More importantly, the valuations of banking stocks are even now fair. Strength in banking stocks can impart resilience to the market even though the overall market valuations are slowly rising beyond comfort levels, he added.

02:11 PM

China stocks end flat; auto shares pare losses after EU anti-subsidy probe

China and Hong Kong stocks ended largely flat on Thursday, with auto stocks trimming losses after the European Union’s anti-subsidy probe, while investors continued to look for policy measures and signs of economic recovery.

China’s blue-chip CSI 300 Index and the Shanghai Composite Index closed roughly flat, while Hong Kong’s benchmark Hang Seng Index edged up 0.2%.

01:46 PM

Fitch retains India’s growth forecast for FY’24 at 6.3 pc, flags inflation risks

Fitch Ratings on Thursday retained India’s growth forecast for the current fiscal at 6.3 per cent saying the Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, but upped year-end inflation projection on El Nino threat. The Indian economy grew 7.8 per cent in the April-June quarter of current fiscal on strong services sector activity and robust demand.

“The Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, with growth outpacing other countries in the region,” Fitch said, while projecting 6.3 per cent growth for current fiscal, and 6.5 per cent for next fiscal.

01:34 PM

JSW Infrastructure’s Rs 2,800 crore IPO to open on September 25

The initial public offer (IPO) of JSW Infrastructure, the ports business of Sajjan Jindal-led JSW Group, will open for subscription on September 25. The issue closes on September 27.

The IPO, which is a first from JSW Group in nearly 13 years, is completely a fresh issue worth Rs 2,800 crore. The company filed draft prospectus with Sebi in May this year and received approval for the same a few days back.

The price band for the issue will be announced soon.

01:10 PM

Crypto Price Today: Bitcoin rises above $26,200; Solana, Litecoin jump up to 5%

Major cryptocurrencies traded higher on Thursday on easing rate concerns after US consumer price data showed core inflation moderated to 4.3% in August from 4.7% in July. However, the overall retail inflation accelerated 3.7% in August, the most in 14 months, on rising gasoline prices.

Bitcoin (BTC) rose 1.38% to $26,260, whereas Ethereum (ETH) was above the 1,600 level. The global cryptocurrency market cap was trading higher, around $1.04 trillion, rising 1.38% in the last 24 hours.

12:56 PM

Stock Market Live Updates: European stock markets steady before ECB rate call

European stock markets steadied at the start of trading on Thursday with all eyes on whether the European Central Bank will announce a further hike to eurozone interest rates.
London’s benchmark FTSE 100 index gained 0.2 percent to 7,539.07 points.In the eurozone, Frankfurt’s DAX index dipped 0.1 percent to 15,640.47 points and the Paris CAC 40 shed 0.2 percent to 7,207.44.

12:38 PM

Cipla founding family’s stake sale in jeopardy over $13 billion valuation target- Bloomberg News

Participation in gold has been increasing, amid the current price decline. However, overall participation continues to hover at lower levels, which sets the stage for a rally in gold once participation increases. We believe gold has become a favourable investment opportunity, at current price levels. Currently we are looking at a support levels at Rs 58,100-58,200 levels. However, a break below this support could open gold for a further downside. On the upside, gold may witness a rally up to Rs 59,500 levels.

– Chintan Mehta, CEO, Abans Holdings

12:26 PM

Japan’s Nikkei closes at one-week high on Fed…