Sensex Today Ends 231 Points Higher | Nifty Above 25,200 | Paytm Rallies 12%

Fri, 30 Aug Closing

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After opening the day higher, Indian benchmark indices continued the momentum as the session progressed and ended the day firm.

Indian stock prices reached all-time highs shortly after the market opened on Friday, following gains among regional counterparts. This uptick came after US economic data alleviated growth worries, with investors now awaiting the latest domestic quarterly growth figures.

At the closing bell, the BSE Sensex stood higher by 231 points (0.3%).

Meanwhile, the NSE Nifty closed higher by 84 points (up 0.3%).

Cipla, M&M and Bajaj Finserv among the top gainers today.

Tata Motors,, Reliance industries and ITC on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,420 up 127 points at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended 0.5% higher and BSE SmallCap index ended 0.8% higher.

Barring FMCG stocks all other sectoral indices were trading positive with socks in healthcare sector, realty sector and auto sector witnessing buying speer.

Shares of Bajaj Auto, Abbott India and Pfizer hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.87 against the US$.

Gold prices for the latest contract on MCX are trading marginally lower at Rs 72,142 per 10 grams.

Meanwhile, silver prices were trading 0.1% lower at Rs 86,950 per 1 kg.

Speaking of the stock market, technical analysts are buzzing about this real estate stock, but is the fundamental analysis strong enough to justify a 10x return?

Co-head of Research at Equitymaster, Rahul Shah dives deep into the company's financials, growth prospects, and industry trends to find out.

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SpiceJet Slips 6%. Here's why

In news from the airline sector, SpiceJet shares slipped 6.4% to Rs 62 in Friday's trade on BSE as aviation watchdog Directorate General of Civil Aviation (DGCA) placed the budget airline under enhanced surveillance following an audit that revealed certain deficiencies.

DGCA on Thursday decided to place SpiceJet under enhanced surveillance that will entail increased spot checks and night surveillance to ensure the safety of the airline's operations.

Based on reports of cancellation of flights and financial stress being experienced by SpiceJet, DGCA said it conducted a special audit of the airline's engineering facilities on 7 August and 8 August and certain deficiencies were found during the audit.

It may be recalled that after a series of occurrences reported on the SpiceJet fleet in 2022, a special drive of spot checks was undertaken during which SpiceJet was permitted to release aircraft for operations only after confirming to DGCA that all reported defects/ malfunctions had been rectified.

For a while, SpiceJet promoter Ajay Singh has been searching for investors and is looking to dilute a large stake to raise around Rs 30 bn.

While the airline had earlier announced to raise around Rs 22.5 bn from a clutch of 64 investors, it could only raise Rs 10.6 bn as one of the primary investors backed out.

SpiceJet is an Indian budget airline headquartered in Gurgaon, Haryana.

The airline operates 630 daily flights to 64 destinations, including 54 Indian and 15 international destinations from its bases at Delhi and Hyderabad.

Natco Pharma Jumps 5%. Here's Why

Moving on to news from the pharma sector, shares of Natco Pharma jumped nearly 5% to Rs 1,569 in Friday's intraday trade on BSE after the firm submitted a product application with the US health regulator for a generic product indicated for the treatment of metastatic non-small cell lung cancer.

The company has submitted an abbreviated new drug application (ANDA) containing a paragraph IV certification with the US Food and Drug Administration (FDA) for the generic version of Novartis' Tabrecta.

The drug firm believes it is the first company to have filed a substantially complete ANDA containing a Paragraph IV Certification for this product and expects to be eligible for 180 days of sole marketing exclusivity at the time of the potential launch of the product under certain circumstances.

Industry estimates show that Tabrecta recorded sales of US$ 126 m in the US market for 2023, translating to Rs 10.6 bn at the current dollar-rupee exchange rate.

Established in 1981 and headquartered in Hyderabad, Natco Pharma is a vertically integrated R&D-driven pharma company. In India, it is the market leader in oncology and gastro hepatology.

In the US, Natco is focused on niche and difficult-to-make complex generics such as Tamiflu and Copaxone highlighting its R&D capabilities.

Why City Union Bank Jumps 4%

Moving on to news from the banking sector, shares of City Union Bank rallied over 4% on 30 August amid heavy volumes.

Recently, the Tamil Nadu-based lender opened a new branch in Trichy - taking the total number of branches count to 807.

As much as 5.7 m equity shares were exchanged on both BSE and NSE on 28 August intra-day deals, significantly exceeding 1.9 m equity shares exchanged on a one-week average.

In the recently-concluded June quarter, the lender had registered a 16.4% year-on-year (YoY) increase in net profit to Rs 2.6 bn, while net interest income had risen 4.5% YoY to Rs 5.5 bn.

The gross non-performing asset stood at 3.9% in the June quarter, down from 4% in the previous quarter. Net NPA, too, came at 1.8% as against 1.9% quarter-on-quarter.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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