Sensex Ends Flat; Maruti Suzuki and M&M Among Top Nifty Gainers

Mon, 27 Sep Closing

   Previous Close   

   Pre-Open   

   SGX Nifty   

   09:30 am   

   12:30 pm   

Indian share markets witnessed volatile trading activity throughout the day today and ended on a flat note.

After a strong start today, benchmark indices witnessed volatility tracking mixed global cues.

At the closing bell, the BSE Sensex stood higher by 29 points (up 0.1%).

Meanwhile, the NSE Nifty closed higher by 2 points (up 0.1%).

Maruti Suzuki and Mahindra & Mahindra were among the top gainers today.

HCL Technologies and Tech Mahindra, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,911, up by 62 points, at the time of writing.

The BSE MidCap index ended on a flat note, while the BSE SmallCap index ended down by 0.1%.

Sectoral indices ended on a mixed note with stocks in the auto sector and realty sector witnessing most of the buying interest.

IT and healthcare stocks, on the other hand, witnessed selling pressure.

Shares of Phoenix Mill and Inox Leisure hit their respective 52-week highs today.

Asian stock markets ended on a mixed note today.

The Hang Seng ended up by 0.1%, while the Shanghai Composite ended down by 0.8%. The Nikkei ended on a flat note today.

US stock futures are trading on a positive note today with the Dow Futures trading up by 108 points.

The rupee is trading at 73.84 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.1% at Rs 45,960 per 10 grams.

Speaking of the stock market, India's #1 trader, Vijay Bhambwani shares how you can profit from the alcohol stocks cycle, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

In news from the power sector, SJVN was among the top buzzing stocks today.

State-run hydropower generator SJVN has secured 1 gigawatt (GW) solar power project contract in the bids floated by Indian Renewable Energy Development Agency (IREDA) by quoting a tariff of Rs 2.45 per unit.

This comes in the backdrop of India's solar power tariffs starting to rebound from the record lows of last December, lifted by factors such as higher commodity prices and an increase in imported solar equipment cost from next year as reported by Mint earlier.

Rising commodity costs and a 40% basic customs duty on solar modules and 25% on solar cells to be imposed from April 2022 is influencing the keenly-contested auction rounds, with developers calibrating these new realities while placing bids.

India's solar power tariffs hit a record low of Rs 1.99 per unit in December 2020 at an auction conducted by Gujarat Urja Vikas Nigam.

Nand Lal Sharma, chairman and managing director, SJVN said,

• SJVN bagged the full quoted capacity of 1,000-megawatt (MW) at a Viability Gap Funding (VGF) support of Rs 44.7 Lakh per MW by government of India. The power generated from above projects shall be solely for self-use or use by government/government entities, either directly or through discoms.
  
  SJVN participated in a VGF based competitive bidding process for solar project of capacity 5,000 MW floated by IREDA.

SJVN plans to have a 25 GW capacity by 2040. The firm has an operational portfolio of 2 GW and is executing 27 projects in hydropower, thermal, solar and wind sectors in India, Bhutan and Nepal.

The company has also pitched for more hydropower projects from Nepal as part of India's playbook of helping build a South Asia-focused energy security architecture.

SJVN share price ended the day up by 1.9% on the BSE.

Speaking of the power sector, it's interesting to note the power exchanged in India is about 4.5% of the overall power production, as can be seen in the chart below.