Sensex Today Ends 131 Points Lower | Nifty Below 25,400 | Oracle Financial Services Down 8%

Wed, 18 Sep Closing

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After opening the day lower, Indian benchmark indices remained negative as the session progressed and ended the day lower

Benchmark equity indices, the BSE Sensex and NSE Nifty50, retreated from record high levels to settle in the red on Wednesday, ahead of the US Federal Reserve's policy decision announcement later in the day.

At the closing bell, the BSE Sensex stood lower by 131 points (down 0.1%).

Meanwhile, the NSE Nifty closed lower by 41 points (up 0.1%).

ICICI Bank, Nestle and Shriram Finance among the top gainers today.

TCS, Infosys and Wipro on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,389 down by 73 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 0.7% lower and BSE SmallCap index ended 0.5% lower.

Sectoral indices were trading mixed with socks in banking sector and finance sector witnessing buying speer. Meanwhile stocks in IT sector and oil & gas sector witnessed selling pressure.

Page Industries, Bajaj Auto and Hero Motocorp 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 83.71 against the US$.

Gold prices for the latest contract on MCX are trading flat at Rs 73,073 per 10 grams.

Meanwhile, silver prices were trading 0.3% lower at Rs 88,850 per 1 kg.

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HEG, Graphite India Shares Soar. Here's Why

In news from the engineering sector, shares of graphite electrode makers HEG and Graphite India are higher by 10% and 8% respectively in anticipation of a runoff after major global player Resonac Graphite recently hiked prices by 20%.

Formerly known as Showa Denko, Resonac Graphite is a leading player in the business of graphite electrodes, and its price hike of over 20% applies to all orders from 9 September.

HEG recently said that the demand for graphite anodes is 'absolutely one way, which is upwards', and the prices at which Chinese companies are selling are below cost because of the large overcapacity they have created.

HEG has one of the largest integrated Graphite Electrode plants in the world, and exports over 70% of its production to more than 30 countries of the world.

Graphite anodes are between 10-14% of a battery price, and even with battery prices going down, HEG said the business is viable with excellent IRRs and sticky demand.

The Indian government too has been in discussions with the government of Sri Lanka on acquiring graphite mines there, it has been reported.

HEG has already announced plans for over 100 million tonnes of Greenfield capacities, which will be operational by 2030. Out of this, about 64 million tonnes is likely to be in operation by as early as 2027.

Why BSE Share Price is Rising

Moving on to news from the finance sector, the BSE share price advanced to a fresh all-time high in Wednesday's trade to Rs 3,794 per share on the NSE, zooming 14.4% from its previous close amid rising buyer interest in the stock.

BSE stock has gained nearly 30% in three sessions. BSE was leading the pack as the top gainer in the NSE 200 index today.

The sharp rise was witnessed as NSE fixed the record date for the bonus issue of shares, which it had approved earlier this year.

In May this year, the board of NSE approved the issue of four bonus shares for every share held by shareholders as of the record date. NSE is currently not listed on the bourses.

National Stock Exchange (NSE) has officially sought approval for its initial public offering (IPO) by filing for a no-objection certificate (NOC) with the capital markets regulator.

Previously, NSE had applied to SEBI for its IPO, but the approval was not granted due to various pending regulatory and legal matters, as well as ongoing investigations.

For more details, check out our recent editorial- Why BSE share price is rising.

Why DCM Shriram Industries Share Price is Rising

Moving on, Shares of DCM Shriram Industries surged over 4% to Rs 200 per share on 18 September after the BSE issued 'no adverse' observations for the company's proposed merger plan.

A year back, Shriram Group had approved a scheme of arrangement to amalgamate Lily Commercial with DCM Shriram Industries.

The board has approved the demerger of DCM Shriram Industries into two separate entities: DCM Shriram Fine Chemicals and DCM Shriram International.

In a filing on 17 September, BSE issued a letter stating that it had no negative observations regarding listing, delisting, or continuous listing requirements as per the Listing Agreement, allowing the company to proceed with submitting the demerger scheme to the NCLT.

BSE also noted that DCM Shriram Industries must disclose all ongoing adjudication, recovery proceedings, prosecutions, and any enforcement actions against the company, its promoters, and directors to both the NCLT and shareholders when seeking approval for the demerger scheme.

Additionally, the company must ensure compliance with SEBI circulars and regulations. All companies involved in the scheme must comply with SEBI's Master Circular and ensure the transfer of all liabilities from the Transferor Company to the Transferee Company.

DCM Shriram Industries is a diversified group involved in sectors like Sugar, Alcohol, Power Co-generation, Organic and Inorganic Chemicals, Drug Intermediates, Industrial Fibres, and Defence-related Engineering Projects.

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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