Sensex Snaps 4-Day Losing Streak to End Strong, Nifty Tops 17,650; Divi's Lab Zooms 8%

Mon, 4 Oct Closing

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

Benchmark indices returned to the green zone today after four days of losing streak, ahead of RBI monetary policy committee (MPC) meet and earnings season that is set to kick off this week.

At the closing bell, the BSE Sensex stood higher by 534 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 159 points (up 0.9%).

Divi's Labs and Hindalco Industries were among the top gainers today.

Cipla and Grasim Industries, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,717, up by 191 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.5% and 1.7%, respectively.

Sectoral indices ended on a positive note with stocks in the metal sector, power sector and realty sector witnessing buying interest.

Shares of Bata India and PVR hit their respective 52-week highs today.

Asian stock markets ended on a mixed note today.

The Hang Seng and the Nikkei ended the day down by 2.2% and 1.1%, respectively.

US stock futures are trading on a strong note today with the Dow Futures trading up by 357 points.

The rupee is trading at 74.31 against the US$.

Gold prices for the latest contract on MCX are trading on a flat note today at Rs 46,283 per 10 grams.

Speaking of stock markets, Rahul Shah talks whether IRCTC's valuations are running ahead of its fundamentals, in his latest video.

In the video, Rahul discusses whether investors should buy more shares of IRCTC or should they partially exit.

In news from the auto ancillaries sector, Steel Strips Wheels was among the top buzzing stocks today.

Steel Strips Wheels share price jumped more than 3% today after the company informed exchanges that the shareholders of the company approved stock split proposal in ratio of 1:2.

Shareholders of the company on its 35th annual general meeting approved sub-division of equity shares of the company from the existing one equity share of face value of Rs 10 each into two equity shares of face value of Rs 5 each.

The company is yet announce the record date for the purpose of sub-division of equity shares shall be intimated in due course.

The company said that the rationale behind the sub-division of equity shares was to provide enhanced liquidity to the company's shares in stock market and to encourage the participation of small investors by making equity shares of the company affordable.

Among other decisions at the shareholders meeting, Steel Strips Wheels shareholders approved appointment of Siddharth Bansal as non-executive independent director of the company to hold office.

Steel Strips Wheels is engaged in designing and manufacturing automotive wheels, both in the steel and alloy category. Its facilities cater to a wide range of domestic and global automobile makers.

The firm has partnership with companies including Tata Steel and international players such as Kalink Co of South Korea.

Steel Strips Wheels share price ended the day up by 0.8% on the BSE.

Speaking of stocks, here is an illustration of the four phases that a stock goes through during its life cycle. The cycle repeats itself after the stock goes through all these for stages.

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If you're interested to know how a stock's life cycle can offer you the opportunity to make money in every phase, you can read about it in one of the recent editions of Profit Hunter: One Cycle That Defines Everything in the Markets

Moving on to news from the IPO space...

Paytm Gears Up for Pre-Diwali IPO Launch

Digital payments and financial firm Paytm, is gearing up for a pre-Diwali initial public offering (IPO) launch.

The company, which is seeking to raise US$2.2 billion, is receiving demand from sovereign wealth funds (SWFs) and foreign institutional investors (FIIs) valuing it about $20-122 billion

A SWF has offered to buy over US$500 m of shares in the IPO. The company had been expecting a valuation of up to US$30 bn.

Paytm is aiming for a pre-Diwali IPO launch and is awaiting approval from market regulator, which is expected this week.

It is noteworthy that Paytm has filed a draft red herring prospectus (DRHP) for an IPO of up to Rs 166 bn. The total issue size of Rs 166 bn consists of a fresh issue and an offer for sale (OFS) of up to Rs 83 bn each.

According to a source, the company is yet to decide on the pre-IPO round, which depends on aspects like investor requirements, tax implications and the lock-in period.

Founder Vijay Shekhar Sharma and other shareholders will sell part of their stock in the offer for sale portion of the IPO. Key investors include Elevation Capital with 17.7%, SoftBank at 18.7%, Alibaba and its affiliate Ant Group at 38%.

Sharma holds 15% and will cease to be listed as a promoter because Paytm seeks to be a professionally managed company after its listing on the stock exchanges.

How the IPO sails through remains to be seen. Meanwhile, stay tuned for more updates from this space.

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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