Sensex Today Ends 256 Points Higher | Nifty Above 26,000 | Saregama India Rallies 14%

Wed, 25 Sep Closing

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After opening the day on lower, Indian benchmark indices reversed the trend as the session progressed and ended the day on firm footing.

Benchmark indices BSE Sensex, and NSE Nifty50 equity markets reversed early losses, and scaled new highs before ending Wednesday's trading session at record high closing levels.

At the closing bell, the BSE Sensex stood higher by 256 points (up 0.3%).

Meanwhile, the NSE Nifty closed higher by 63 points (up 0.3%).

Axis Bank, NTPC and Bajaj Finserv among the top gainers today.

Tech Mahindra, Tata Motors and Titan on the other hand, were among the top losers today.

The GIFT Nifty was trading at 25,999 up by 15 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 0.5% lower and BSE SmallCap index ended 0.3% lower.

Sectoral indices were trading positive with socks in power sector and realty sector witnessing buying. Meanwhile stocks in auto and FMCG sector witnessed selling pressure.

M&M, Ceat 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 83.61 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 75,820 per 10 grams.

Meanwhile, silver prices were trading 0.6% lower at Rs 91,828 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

SpiceJet Tumbles 7%. Here's Why

In news from the airline sector, shares of low-cost carrier SpiceJet tanked another 7% to Rs 61.5 in the afternoon on 25 September despite its CMD Ajay Singh suggesting that the airline is taking strong steps to revive operations, settle outstanding dues and position itself as a key player in the Indian Aviation Industry.

SpiceJet aims to expand its fleet from 28 aircraft to 100 within the next two years.

He announced plans to double the current fleet by ungrounding existing planes, targeting 40 aircraft by the end of FY 2025 and 80 by the end of FY 2026.

In the near term, the airline intends to increase operations to 5,000 flights per month, while not overly depending on Boeing, which is currently facing its challenges, for immediate growth.

Ajay Singh expressed confidence that SpiceJet will soon clear all obligations, including Rs 6.5 bn in statutory dues and Rs 37 bn owed to lessors.

Currently, SpiceJet operates on a cash-and-carry basis at major airports and owes less than Rs 1 bn to them.

JB Chemicals Slips 4%. Here's Why

Moving on to news from the chemical sector, shares of JB Chemicals and Pharmaceuticals fell 4.5% on 25 September on news that the much-anticipated deal for KKR's 54% equity stake in JB Chemicals is on the brink of collapse due to disagreements over the valuation.

What was expected to be one of India's largest pharma sector deals in 2024, valued at around US$ 2 bn, is now facing major obstacles as prospective buyers-Torrent Pharma, EQT, and Alkem Laboratories-reconsider their bids.

Negotiations appear to have reached a critical impasse, with the valuation of KKR's stake emerging as a key sticking point.

KKR, which acquired approximately 65% of JB Chemicals in July 2020, had been looking to offload its holdings.

Torrent Pharma, which had previously approached banks for financing, and Alkem Laboratories, are now reportedly planning to withdraw their bids. Private equity firm EQT, another contender in the deal, has also backed away from its proposal.

The market value of KKR's stake is still pegged at around US$ 2 bn, but the ongoing valuation disagreements have cast doubt on the future of the sale.

Established in 1976, it is one of the leading pharma companies in India.

The company manufactures a wide range of pharma formulation specialities, radio diagnostics, APIs, and intermediates. It also undertakes contract manufacturing for global pharmaceutical companies.

Baazar Style Falls 3% Today. Here's Why

Moving to news from the retailing sector, the recently listed Baazar Style Retail on 25 September reported a loss of Rs 3.9 m for the June 2024 quarter.

It reported a profit of Rs 550 m in the year-ago period. However, on a sequential basis, the company's loss narrowed from Rs 650 m in the March quarter.

The company's standalone revenue from operations rose 21% to Rs 27.6 m in Q1FY25 against Rs 22.8 m in Q1FY24.

Bazaar Style Retail Limited is a fashion retailer operating in West Bengal and Odisha. The company offers apparel for men, women, boys, girls, and infants and general merchandise such as non-apparel and home furnishing products.

The company focuses on providing a family-oriented shopping experience, offering quality products and striving to offer every Indian stylish merchandise at an affordable price.

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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