Sensex Today Ends 384 Points Higher | Nifty Above 25,900 | Amber Enterprises Rallies 13%

Mon, 23 Sep Closing

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After opening the day on higher, Indian benchmark indices remained positive as the session progressed and ended the day on firm footing.

Indian benchmark indices, the BSE Sensex and NSE Nifty50, surged to historic highs before settling at record closing high levels on Monday.

At the closing bell, the BSE Sensex stood lower by 384 points (up 0.5%).

Meanwhile, the NSE Nifty closed higher by 146 points (up 0.6%).

Bajaj Auto, M&M and ONGC among the top gainers today.

Eicher Motors, ICICI Bank and Asian paints on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,928 up by 87 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 and BSE SmallCap index ended 0.7% higher.

Sectoral indices were trading positive with socks in oil & gas, sector auto sector and energym sector witnessing most buying.

Info Edge, Bajaj Auto and Trent 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 83.55 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 74,191 per 10 grams.

Meanwhile, silver prices were trading 1.4% lower at Rs 88,864 per 1 kg.

Speaking of the stock market, even though the China+1 megatrend was relatively short lived in terms of stock market gains, India's logistics boom is here to stay.

Such a boom could play out for several decades as India's manufacturing, exports and domestic consumption continue to grow.

Tanushree Banerjee, Research Analyst talks about some niche players are the hidden and indirect beneficiaries of India's logistics boom.

Tune in for more

Why Hind Rectifiers Share Price is Rising

In news from the engineering sector, shares of Hind Rectifiers surged 5% to hit the upper circuit on September 23 after the company secured a supply order worth over Rs 2 bn from Indian Railways. The order will be executed by FY26.

Hind Rectifiers clarified that there is no involvement or interest from the promoter group or group companies in the entity awarding the contract. Additionally, the transaction does not qualify as a related party transaction.

Founded in April 1958, the company specialises in the development, design, manufacturing and marketing of power semiconductors, electronic equipment, and railway transportation equipment.

Indian Railways remains Hind Rectifiers' largest customer, driven by its strong reputation and advanced technology in locomotives and coaches.

However, the company is diversifying its focus, developing new products for private rolling stock manufacturers and expanding into the industrial sector by enhancing its existing product lines.

Hind Rectifiers is set to benefit from the government's infrastructure development plans and various power sector projects.

The company is also expanding into the defence and aerospace sectors, having secured certifications for aerospace standards and registered with defence organisations, which are expected to generate additional revenue in the coming years.

Why ONGC Shares Jump 3% Today

Moving on to news from the energy sector, shares of state-owned ONGC rose 3% to a day's high of Rs 294.4 on the BSE after the company announced signing an addendum to its Production Sharing Agreement (PSA) for the Azeri-Chirag-Deepwater Gunashli (ACG) Field in Azerbaijan's Caspian Sea.

The addendum to the ACG PSA allows progress in exploring, appraising, developing, and producing Non-Associated Natural Gas (NAG) from the ACG field and is effective until the current PSA ends in 2049.

The NAG resources at ACG are estimated to be up to 4 trillion cubic feet (tcf).

With the new PSA addendum, SOCAR and ACG partners are planning the development of the NAG reservoirs. The first well is set to be drilled in two priority reservoirs, with initial gas production expected by 2025.

The NAG reservoirs, located in multiple geological formations above and below the existing oil reservoirs, were not originally part of the ACG PSA. In 2022, ACG co-venturers and SOCAR agreed to drill a data well to assess gas pressure in the NAG reservoirs. The well, completed in 2023, confirmed the presence of natural gas within the expected pressure range.

ONGC is the biggest publicly traded oil and gas production and exploration company in India.

The company produces 70% of India's crude oil. This is almost equivalent to 57% of the overall demand in the country. It also produces 84% of India's natural gas.

ONGC is under the ownership of the Ministry of Petroleum and Natural Gas, Government of India.

Meanwhile, the shares of ONGC have increased by 29% in the last year and in the last 6 months, they have gained 11.8%.

Bajaj Healthcare Jumps 7%. Here's Why

Moving on the news from the healthcare sector, Bajaj Healthcare's shares rose nearly 7% around noon after the company informed the exchanges that it has entered into a development and supply agreement with a European entity for an Active Pharmaceutical Ingredient (API).

Bajaj Healthcare said that initially, the API will be supplied in small quantities for clinical trials, where it will be tested for an alternative indication.

Once the trials are successfully completed, full-scale supply will begin from the company's FDA-approved facility in Savli, Vadodara. Until the trial outcomes are finalised, the agreement is expected to be revenue-neutral.

Incorporated in 1993, Bajaj Healthcare manufactures a wide range of APIs and formulations.

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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