Sensex Trades Above 66,000; Nifty Tops 19,650; Delta Corp Hits Lower Circuit
The domestic equity indices opened flat on Monday, September 25, after benchmarks last week posted their worst performance in several months over fears that global interest rates will remain higher for longer.
Last seen, the S&P BSE Sensex was up 72.98 points or 0.11 per cent at 66,082.13, and the NSE Nifty was up 20.3 points, or 0.10 per cent, at 19,694.55.
In the broader market, the Nifty Midcap 100 and Small Cap 100 traded in positive territory.
BUZZING STOCKS
Godrej Properties stock was up nearly 2 per cent after the company announced it has sold nearly 670 homes worth over Rs 2,000 crore in its project.
Bajaj Finance shares were up over 3 per cent as the company’s board will consider the proposal to raise funds through preferential issues, QIPs, or other means in the meeting on October 5.
Karnataka Bank shares were up 1 per cent after the board approved raising Rs 1500 crore.
Strides Pharma shares were up over 3 per cent as the company’s subsidiary, Strides Pharma Global Pte Ltd, Singapore, got approval from the US Food and Drug Administration (USFDA) for Icosapent Ethyl Capsules.
Sequent Scientific shares were up over 3 per cent after the USFDA completed its inspection at the Visakhapatnam manufacturing facility in Andhra Pradesh of the company.
Swan Energy shares were up 12 per cent after its board approved raising Rs 1,435 crore.
Conversely, Cholamandalam Financial shares were down over 1 per cent after multiple block deals.
Delta Corp shares hit the lower circuit of 10 per cent after the company received a total tax-due notice of Rs 16,822 crore under the CGST and SGST.
GLOBAL MARKETS
Shares in Asia were mostly lower on Monday, with Tokyo the only major regional market to advance, after Wall Street wheezed to more losses with its worst week in six months. US futures and oil prices edged higher. Worries over China’s property sector, a US government shutdown and the continued strike by American autoworkers were weighing on investor sentiment.
Hong Kong’s Hang Seng lost 1.3 per cent to 17,819.52, while the Shanghai Composite index declined 0.3 per cent to 3,121.78. Japan’s Nikkei 225 was up 0.6 per cent at 32,590.33. In Seoul, the Kospi lost 0.6 per cent to 2,492.15, while Australia’s S&P/ASX 200 shed 0.3 per cent to 7,048.00.