Sensex Today Trades Flat | Delta Corporation Tanks 14% | Infosys, Power Grid Corporation Among Top Losers

Mon, 25 Sep 10:30 am

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Asian shares are hesistant on Monday as investors braced for inflation data from the US and Europe.

The Nikkei is trading 0.9% higher while the Hang Seng index is down 1.2%. The Shanghai Composite is trading down by 0.4%.

US stocks declined on Friday after hawkish stance from the Federal Reserve, soaring Treasury yields and a looming government shutdown.

Here's a table showing how US stocks performed on Friday:

Stock/Index	LTP	Change ($)	Change (%)	Day High	Day Low	52-Week High	52-Week Low
Alphabet	131.25	-0.11	-0.08%	133.01	130.51	139.93	83.45
Apple	174.79	0.86	0.49%	177.08	174.05	198.23	124.17
Meta	299.08	3.35	1.13%	305.38	298.27	326.2	88.09
Tesla	244.88	-10.82	-4.23%	257.79	244.48	299.29	101.81
Netflix	379.81	-4.34	-1.13%	386.88	378.36	485	211.73
Amazon	129.12	-0.21	-0.16%	132.03	128.52	145.86	81.43
Microsoft	317.01	-2.52	-0.79%	321.45	316.15	366.78	213.43
Dow Jones	33,963.80	-106.6	-0.31%	34,156.15	33,947.24	35,679.13	28,660.94
Nasdaq	13,211.80	-12.2	-0.09%	13,353.22	13,200.64	14,446.55	10,088.83

Source: Equitymaster

Back home, Indian share markets are trading flat.

At present, the BSE Sensex is trading higher by 32 points. Meanwhile, the NSE Nifty is trading flat.

Asian Paints and Maruti Suzuki are among the top gainers today.

Infosys and Power Grid Corporation on the other hand are among the top losers today.

Broader markets are trading on a positive note. The BSE Mid Cap index is trading flat and the BSE Small Cap index is trading higher by 0.3%.

Sectoral indices are trading on a mixed note with stocks in the auto sector and telecom sector are witnessing buying. While stocks in power sector and capital goods sector witnessing selling pressure.

Shares of Maruti Suzuki and Union Bank hit their 52-week high today.

The rupee is trading at Rs 83.09 against the US dollar.

In commodity markets, gold prices are trading marginally lower at Rs 58,893 per 10 grams today.

Meanwhile, silver prices are trading 0.2% lower at Rs 73,205 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, PSU banking stocks are on fire. They are big favourite of traders in the stock market these days.

Some of these stocks have hit new highs.

But what do the charts say?

In the below video, Chartist, Brijesh Bhatia explains how to trade PSU bank stocks now.

Reliance Retail Receives Subscription From KKR

Reliance Retail Ventures Ltd, the retail arm of Reliance Industries, has received the full subscription amount of Rs 20.7 bn from the global investment firm KKR and has allotted 17.1 million equity shares.

Following the share allotment, KKR's shareholding in Reliance Retail Ventures Ltd (RRVL) has increased to 1.4% from 1.2%.

In October, Reliance Industries informed about KKR's investment of Rs 20.7 bn in RRVL, the holding company of the retail business of the Mukesh Ambani-led group. This investment granted KKR an additional stake of 0.25%, with a valuation of approximately Rs 8.4 tn.

Founded in 1976, KKR has approximately US$ 519 bn in assets under management as of 30 June 2023.

Earlier this month, RIL received Rs 82.8 bn from Qatar Investment Authority (QIA) for around 1% stake in RRVL at a valuation of Rs 8.3 tn ($ 100 billion).

In 2020, RRVL had raised Rs 472.7 bn (around US$ 6.4 bn) from global private equity funds for a 10.1% stake, valuing the company at more than Rs 4.2 tn.

This was the largest fundraising exercise in the sector at that time.

A transition from grey to green hydrogen is happening at a faster pace than expected. Reliance Industries is one contributing to this transition.

For the full update, check out India's Top Green Hydrogen Stocks and How They're Faring in 2023.

SBI Raises Funds Via Bonds

The country's largest lender, State Bank of India (SBI), on 22 September said it raised Rs 100 bn at a coupon rate of 7.5% through its fourth infrastructure bond issuance.

SBI in a statement said that the issue attracted an overwhelming response from investors with bids of Rs 210.5 bn and was oversubscribed by more than five times against the base issue size of Rs 40 bn.

The total number of bids received was 134, indicating wider participation with heterogeneity of bids. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates, etc.

The proceeds of bonds will be utilised to enhance long-term resources for funding infrastructure and the affordable housing segment.

SBI further added that based on the response, the bank has decided to accept Rs 100 bn at a coupon rate of 7.5% payable annually.

This represents the spread of 0.12% over the corresponding FBIL G-Sec par curve.

Before this, the bank had raised long-term bonds of Rs 100 bn on 1 August 2023, at a spread of 0.13% over the corresponding FBIL G-Sec par curve.

If the PSU euphoria continues, SBI cannot be left behind. For more, check out Will SBI and NTPC be the Next PSU Stocks to Rally?

LIC To Challenge GST Bill

The Life Insurance Corporation of India (LIC) plans to lodge an appeal with the GST Appellate Tribunal over a Goods and Services Tax (GST) bill exceeding Rs 2.9 bn issued by the Bihar tax authority.

This is to inform you that the Corporation has received an order under Section-73(9) of the BGST and CGST Act 2017 from the Bihar- Additional Commissioner State Tax (Appeal), Central Division, Patna, on 21 September 2023.

Details of the violation included failure to reverse the Input Tax Credit (ITC) availed and utilised on non-GST leviable portions of premiums received from policyholders.

Furthermore, it cited non-reversal of the ITC on agents' commissions for non-GST leviable portions of the premiums and exempted policies.

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