Sensex Today Ends 264 Points Lower | Nifty Below 26,200 | Power Grid Sheds 3%, Airtel 2%

Fri, 27 Sep Closing

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After opening the day on muted, Indian benchmark indices turned negative as the session progressed and ended the day lower.

Indian equity benchmark indices, BSE Sensex and NSE Nifty50, after surging to fresh all-time highs, pared their gains to end the week's last trading session in negative territory.

At the closing bell, the BSE Sensex stood higher by 264 points (down 0.3%).

Meanwhile, the NSE Nifty closed lower by 41 points (down 0.2%).

BPCL, Cipla and Sun Pharma among the top gainers today.

HDFC Bank, ICICI Banka and Bharti Airtel on the other hand, were among the top losers today.

The GIFT Nifty was trading at 26,384 up by 34 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 0.3% higher and BSE SmallCap index ended flat.

Sectoral indices were trading positive with socks in metal sector and oil & gas sector witnessing buying. Meanwhile stocks in realty and telecom sector witnessed selling pressure.

Bosch, Coforge and Britannia 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 83.7 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% lower at Rs 76,135 per 10 grams.

Meanwhile, silver prices were trading 0.6% lower at Rs 92,079 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 SJVN Share Price is Rising

In news from the power sector, SJVN shares climbed as much as 3.5% through the day so far on 27 September after the company inked two memorandum of understanding with the Government of Maharashtra for the development of Pumped Storage Projects (PSPs) and Floating Solar Projects (FSPs) in the state.

The first MoU was signed between SJVN and the Department of Water Resources, Government of Maharashtra, for the development of five pumped storage projects with a total capacity of 8,100 MW.

This project will include five major developments: 800 MW at Kolmondapada, 1,500 MW at Sidgarh, 2,000 MW at Chornai, 1,800 MW at Baitarni, and 2,000 MW at Jalvara.

Under the signed MoU, SJVN will carry out surveys, investigations, and the preparation of detailed project reports (DPRs) to establish these projects in Maharashtra in a timely manner, aligned with the policies and schemes of the Central and State Governments.

The PSPs are expected to play a vital role in energy storage, grid stabilisation, and addressing peak electricity demand, ensuring a steady supply of clean energy to Maharashtra.

On the other hand, the second MoU was inked between SJVN and the Maharashtra State Power Generation Company (MAHAGENCO) for the development of a 505 MW floating solar project at Lower Wardha Dam in Maharashtra.

The 505 MW Floating Solar Project will be developed in two phases: the first one will cover 100 MW, while the second phase will account for 405 MW.

Reliance Power Hit's Upper Circuit

Moving on, shares of Reliance Power hit the 5% upper circuit for the eighth straight session on 27 September amid a flat movement in the benchmark indices.

The stock of Anil Ambani's firm has been rallying since 9 September due to various triggers.

On 16 September, the stock hit the upper circuit after the firm secured a major Battery Storage Contract of 500 MW/1000 MWh from the Solar Energy Corporation of India (SECI).

The contract positions Reliance Power as a key player in one of the world's largest standalone battery energy storage projects.

On 18 September, sentiments around the stock received another boost after the Anil Ambani-led firm said it has been released and discharged its corporate guarantee, undertakings and all obligations and claims in relation to the outstanding debt of subsidiary Vidarbha Industries Power Limited (VIPL), amounting to Rs 38.7 bn.

The company said it settled all disputes with CFM Asset Reconstruction Private Limited (CFM), as 100% shares of VIPL have been pledged in favour of CFM against the release and discharge of corporate guarantee given by Reliance Power. The stock hit an upper circuit of 5% in the same trading session.

On 19 September, shares climbed 5% again as the company informed that the board of directors of Reliance Power is scheduled to meet on 23 September to consider and approve the raising of long-term resources from domestic and/or global markets.

BPCL Hits Record High

Moving on to news from the energy sector, shares of Bharat Petroleum Corporation (BPCL) surged around 7% to hit a record high of Rs 370.5, driven by heavy volumes. So far in the day, a total of three crore shares of the company changed hands on BSE and NSE combined, compared to the one-month average trading volume of 10 m shares.

Earlier this month, BPCL said its subsidiary along with Indian Oil Corporation (IOC) has been awarded a production concession by The Supreme Council for Financial and Economic Affairs (SCFEA) in Abu Dhabi.

The company said the production concession agreement follows the award of the exploration and production concession to Urja Bharat Pte Limited (UBPL) in March 2019 and the successful completion of the exploration phase. UBPL is a 50:50 Special Purpose Vehicle (SPV) of BPCL and IOC.

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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