Sensex Today Ends 398 Points Lower | Nifty Below 24,950 | Tata Motors Down 5%

Wed, 11 Sep Closing

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After opening the day lower, Indian benchmark indices continued the downtrend as the session progressed and ended the day lower.

Indian equity benchmark indices shed their gains on Wednesday and were trading deep in the red amid weak global cues ahead of the release of key consumer inflation data in the US.

At the closing bell, the BSE Sensex stood lower by 398 points (down 0.5%).

Meanwhile, the NSE Nifty closed lower by 123 points (down 0.5%).

Bajaj Auto, Asian Paints and Britannia among the top gainers today.

Tata Motors, ONGC and Wipro on the other hand, were among the top losers today.

The GIFT Nifty was trading at 24,960 down 155 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 0.4% lower and BSE SmallCap index ended 0.5% lower.

Sectoral indices were trading mixed with socks in consumer durables sector and FMCG sector witnessing buying speer. Meanwhile stocks in oil & gas sector and energy sector witnessed selling pressure.

Info Edge, Coforge and Britannia 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 83.97 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 72,084 per 10 grams.

Meanwhile, silver prices were trading 1.4% higher at Rs 84,50 per 1 kg.

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Why Varun Beverages Share Price is Rising

In news from the liquor sector, shares of Varun Beverage jumped 4% to Rs 15,88 per share on 11 September 2024 ahead of its record date for a 2:5 stock split. This means that the stock will trade on an ex-split basis from tomorrow, 12 September onwards.

The board of directors has set September 12 as the 'record date,' which means this is the cutoff day to determine which shareholders are eligible for the company's stock split.

In the split, each current share with a face value of Rs 5 will be divided into shares with a face value of Rs 2.

Earlier, in June 2023, Varun Beverages had already split its shares, reducing the face value from Rs 10 to Rs 5. This new split will further reduce the face value of each share.

Typically, a company initiates a stock split to reduce the price per share, making it more affordable for smaller investors.

However, this does not change the overall value of the company or an investor's holdings.

By increasing the number of shares available at a lower price, a stock split can also boost trading volume and liquidity.

Infibeam Avenues Plunge 8%. Here's Why

Moving on to news from the fintech sector, shares of Infibeam Avenues fell as much as 85 as the stock traded ex-date for the spin-off of its digital marketing arm Odigma Consultancy Solutions.

Today (September 11) is also the record date for the purpose of determining the eligibility of shareholders of Infibeam Avenues for the issue and allotment of equity shares of Odigma Consultancy Solutions.

Upon the demerger taking effect, shareholders of Infibeam Avenues on the record date will receive one fully paid-up equity share of Re 1 in Odigma Consultancy Solutions Limited for every 89 Re 1 shares they hold in Infibeam Avenues.

If a shareholder's holding in Infibeam Avenues results in a fractional entitlement to shares of Odigma, no fractional shares will be issued by Odigma.

Instead, Odigma will consolidate these fractional shares and allot them to a trustee nominated by its board of directors. The trustee will sell the consolidated shares in the market and pay the net proceeds to Odigma.

After withholding any applicable taxes, Odigma will distribute the proceeds to the respective shareholders of Infibeam, proportionate to their fractional entitlements.

The equity shares proposed to be allotted by Odigma are proposed to be listed on BSE and NSE, subject to necessary regulatory approvals.

Bajaj Auto Hits All-Time High

Moving on to news from the auto sector, shares of Bajaj Auto extended gains to the third straight session, rising 4% to touch an all-time high of Rs 11,498 per share on 11 September.

The spurt comes on the back of heavy volumes, as around 1 m equity shares exchanged hands on both NSE and BSE in intra-day deals, exceeding the one-week average of 0.3 m equity shares.

Over the past month, the stock of this two-wheeler automaker surged over 17%, significantly beating benchmark Nifty 50's 2% rise.

Recently, the company reported healthy sales figures for the month of August.

It reported 16% year-on-year growth in total vehicle wholesales, including exports at 3.9 lakh units. Total domestic sales also increased by 24% YoY to 2.53 lakh units in August, as compared to 2.05 lakh units in the same month last year.

So far in the current fiscal year, overall sales of Bajaj Auto grew by 10% YoY to 18 lakh units, which includes two-wheelers at 15 lakh units and three-wheelers at 2.7 lakh units.

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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