Sensex Today Ends 221 Points Lower | Berger Paints Jumps 7% | Wipro & Cipla Among Top Losers

Fri, 22 Sep Closing

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After opening the day flat, Indian share pared early gains as the session progressed and ended lower.

Benchmark indices rebounded on Friday after a three-day decline but later gave up initial gains to quote in the negative territory.

At the closing bell on Friday, the BSE Sensex stood lower by 221 points (down 0.3%).

Meanwhile, the NSE Nifty closed 68 points lower (down 0.3%).

SBI and Maruti Suzuki were among the top gainers today.

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

The GIFT Nifty was trading at 19,717, up by 55 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended flat.

Sectoral indices ended mixed, with stocks in the auto sector and telecom sector witnessing buying. Meanwhile stock in the realty sector and energy sector witnessed selling.

Shares of Canara Bank and TCS hit their 52-week high today.

The rupee is trading at Rs 82.94 against the US dollar.

Asia-Pacific markets ended mixed.

The Nikkei index ended 0.5% lower, Hang Seng index ended 2.2% higher, while the Shanghai Composite ended 1.6% higher.

In commodity markets, gold prices are trading marginally higher at Rs 58,860 per 10 grams today.

Meanwhile, silver prices are trading 0.6% higher at Rs 73,516 per 1 kg.

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...

Speaking of stock markets, Bharat Heavy Electricals Ltd or BHEL as it is popularly known as, is one of the hottest stocks in the market right now.

The stock has doubled in the last one year alone, with a majority of the gain coming post April 2023.

In fact, the stock is up an impressive 6x since the lows of March 2020, when it had crashed to Rs 20 per share.

What now though? Is the risk-reward equation still in favour of investors or has the stock gone out of reach?

Co-head of research, Rahul Shah answers all the questions in below video.

Suzlon's New Order Win

In news from the energy sector, Suzlon Energy has secured an order from BrightNight, a renewable power producer, for the development of a 29.4 MW wind installed capacity. The project is part of BrightNight's 100 MW co-located wind-solar hybrid project in Osmanabad, Maharashtra.

Suzlon will supply and install 14 units of their S120 - 140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, each with a rated capacity of 2.1 MW.

The project is scheduled to be commissioned in phases, starting in April 2024. Additionally, Suzlon will provide post-commissioning operation and maintenance services.

Suzlon's turbines are manufactured within India's domestic value chain, aligning with the vision of Aatmanirbhar Bharat. These turbines incorporate the proven Doubly Fed Induction Generator (DFIG) technology, ensuring efficient integration into the utility network to meet grid requirements.

Suzlon is a renewable energy solutions provider. The company is involved in the business of manufacturing, project execution, operation and maintenance of wind turbine generators and sale of related components.

From July 2022 to July 2023, shares of the company have rallied 220% in the past year.

Sunteck Realty Partners IFC

Moving on, Sunteck Realty and IFC have set up a joint platform to invest up to Rs 7.5 bn to develop 4-6 affordable housing projects in the Mumbai Metropolitan Region (MMR).

IFC, a member of the World Bank, is the largest global development institution focused on the private sector in emerging markets.

The investment will be towards the development of nearly 12,000 housing units across 4-6 green housing projects within the MMR.

IFC will invest up to Rs 3.3 bn (US$ 40 m), while the remaining investment will be by Sunteck Realty.

The partnership will focus on the development of large-scale housing projects in the extended suburbs of Mumbai city to cater to the mid-income demographic.

This investment aligns with our strategy to create more inclusive and equitable cities by backing affordable and eco-friendly housing through partnerships with reputed companies like Sunteck Realty.

When it comes to real estate stocks, you need to be very careful about the management quality. Poor accounting and lack of corporate governance have been the reason for many large realty companies performing poorly in the past.

Also, a big drag on real estate players is high debt. So you need to check the debt-to-equity ratio. To know the top real estate stocks, check out Equitymaster's stock screener for the best real estate stocks in India.

SpiceJet to pay Credit Suisse in instalments

Moving on to news form the airlines sector, the Supreme Court (SC), on Friday, permitted domestic airline SpiceJet to make payments to Credit Suisse of US$ 1 m per month for six months to clear arrears amounting to $3 m.

Following the completion of the six months, Ajay Singh of SpiceJet is required to pay regular instalments of US$ 500,000 to Credit Suisse.

Last week, SpiceJet announced it had cleared US$ 1.5 m in dues to Credit Suisse. The court had previously cautioned Chairman Singh to fulfil the payment obligations or face imprisonment in Tihar Jail.

On 12 September, the apex court directed Singh to make a payment of US$ 500,000 towards an instalment to the Swiss firm, in addition to a defaulted amount of US$ 1 m.

The company's shares are down by more than 25% in 2023. To know why, check out the editorial - why SpiceJet share price is falling.

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

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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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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Indian Share Market Update: Top Gainers and Losers