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Sensex  39,302.85  ▲ 0.66%   Nifty  11,604.55  ▲ 0.72% The markets closed up by over 0.7%. M&M, Dr. Reddy’s, and Hindalco each climbed around 4%. Top Gainers (Nifty) M&M ( ▲ 4.24% )  Dr Reddy's ( ▲ 4.18% )  Hindalco Industries ( ▲ 3.99% )  Bajaj Auto ( ▲ 3.42% )  Britannia ( ▲ 2.96% ) Top Losers (Nifty) IndusInd Bank ( ▼ 1.86% ) NTPC ( ▼ 1.59% ) Bharti Infratel ( ▼ 1.16% ) ONGC ( ▼ 1.02% ) SBI ( ▼ 0.97% )   SBI Extends OTP-Based Withdrawal in ATMs State Bank of India  extended OTP-based withdrawals in ATMs to 24*7 for withdrawals of Rs 10,000 and above for all SBI debit cardholders. The feature will go live on September 18. The bank had introduced this feature on January 1, 2020 however, back then this feature could be used only between 8.00 p.m. to 8.00 a.m. Now it can be used throughout the day. After the customer enters the amount he/she wishes to withdraw from the ATM, the screen will ask for an OTP which is sent to the registered mobile number. The customer will have t

Stocks in the news SpiceJet : The company reported a loss of Rs 600.5 crore in Q1FY21 against a profit of Rs 262.8 crore, revenue fell to Rs 521 crore versus Rs 3002.8 crore YoY. Uflex : Promoter entity Flex International released 2.7 lakh pledged shares. Infosys : US-based Essential Utilities selected Infosys as a strategic partner to drive its digital transformation. REC : The company to infuse Rs 150 crore as equity in a Joint Venture alongwith Power Finance Corporation, Power Grid Corporation and NTPC, for the purpose of establishment/creation of Common Backend Infrastructure Facility (CBIF) for smart metres in the country. Power Mech Projects : The company reported a loss of Rs 32.69 crore in Q1FY21 against a profit of Rs 28 crore, revenue dropped to Rs 275 crore from Rs 491 crore YoY. Aurobindo Pharma : Biotechnology Industry Research Assistance Council (BIRAC), set up by Department of Biotechnology (DBT), Government of India supported Aurobindo's COVID-19 vaccine development

A sustainable move above 11,600 could have further positive impact on the market, says Nagaraj Shetti of HDFC Securities. The market gained strength after a day of correction and climbed higher on the back of positive global cues and rally in banking and IT stocks on September 15. The BSE Sensex closed above 39,000 levels, up 287.72 points at 39,044.35, while the Nifty50 jumped 81.80 points to end above the crucial 11,500 mark, at 11,521.80 and formed a small bullish candle on the daily charts. "After the formation of a negative candlestick pattern of Monday, Nifty showing upside bounce today could signal a possibility of a retest of the upside resistance around 11,570-11,600 levels in the short term. A sustainable move above 11,600 could have a further positive impact on the market," Nagaraj Shetti, Technical Research Analyst at HDFC Securities, told Moneycontrol. "It is going to be crucial to watch market behaviour at the hurdle of 11,600. As long as the swing high of

Sensex  39,044.35  ▲ 0.74%   Nifty  11,521.80  ▲ 0.71% The markets closed up by over 0.7%. Positive global cues and a buying sentiment in the pharma sector were the main reasons behind the gains. Top Gainers (Nifty) IndusInd Bank ( ▲ 3.95% )  Cipla ( ▲ 2.89% )  UPL ( ▲ 2.67% )  Bharti Airtel ( ▲ 2.42% )  ICICI Bank ( ▲ 2.16% ) Top Losers (Nifty) Titan ( ▼ 1.13%% ) Maruti Suzuki ( ▼ 1.07% ) Eicher Motors ( ▼ 0.87% ) ITC ( ▼ 0.85% ) Bajaj Auto ( ▼ 0.69% )   Q1 Results Corner: SpiceJet SpiceJet  reported a net loss of Rs 593.4 crore in the April to June quarter compared to a net profit of Rs 261.7 crore in the same period last year. The capacity, in terms of seat km, shrunk 90%. Total revenue from operations fell around 83% to Rs 5,146.89 crores Revenue from cargo increased by 144%, said the company in a press release. SpiceJet is operating 47% of the pre‐lockdown schedule after the operations were restarted. Earlier this year, SpiceJet became the first Indian carrier to operate flights u

Zensar Technologies  launches blockchain-based contract management solution for companies. Omaxe  reported a loss of Rs 63.9 crore in Q1 FY21 against a profit of Rs 14.9 crore, revenue dropped to Rs 50.7 crore versus Rs 353 crore YoY. Mirza International  reported a loss of Rs 23.23 crore in Q1 FY21 against a profit of Rs 9.5 crore, revenue fell to Rs 83.1 crore versus Rs 308 crore YoY. Repro India  reported a loss of Rs 17 crore in Q1 FY21 against a profit of Rs 6.9 crore, revenue dropped to Rs 20.3 crore from Rs 107 crore YoY. Munjal Auto Industries  reported a loss of Rs 11.30 crore in Q1 FY21 against a profit of Rs 4.3 crore, revenue declined to Rs 212.7 crore versus Rs 301 crore YoY. SREI Infrastructure Finance  reported a profit of Rs 23 crore in Q1 FY21 against a profit of Rs 42.67 crore, revenue fell to Rs 1,188.6 crore against Rs 1,582.6 crore YoY. HUDCO  reported a profit of Rs 203.4 crore in Q1 FY21 against a profit of Rs 335.6 crore, revenue declined to Rs 1,773.9 crore fro

Watch Now According to pivot charts, the key support levels for the Nifty are placed at 11,359.37, followed by 11,278.73 The market started off on a strong note on September 14, but erased all gains in the last couple of hours of trade due to selling in banking and financials and select FMCG stocks. But strong buying in technology stocks after management commentary from HCL Technologies capped the downside. The Sensex corrected 97.92 points to 38,756.63 and the Nifty fell 24.50 points to 11,440, forming a bearish candle on the daily charts. "Technically, this indicates a formation of a Bearish Dark Cloud Cover or counter attack bear candle pattern at the highs. A formation of such patterns after a reasonable up move or near the crucial overhead resistance could signal probability of profit booking from the highs or a reversal pattern," Nagaraj Shetti, Technical Research Analyst at HDFC Securities, told Moneycontrol. The key upside area of 11,500-11,550 (previous swing high an

Sensex  ▼0.25%  Nifty  ▼0.21% The markets ended lower today even though they opened in the green. Banking and financial stocks dragged the index down. IT stocks performed very well with HCL Tech gaining more than 10%. Other IT stocks like TCS, Wipro, and Infosys performed well too. Top Gainers (Nifty) HCL ( ▲ 10.16% )  TCS ( ▲ 4.94% )  Wipro ( ▲ 4.74% )  Infosys ( ▲ 3.46% )  UPL ( ▲ 3.39% ) Top Losers (Nifty) Bharti Airtel ( ▼ 3.57% ) Bajaj Finance ( ▼ 2.93% ) Bharat Petroleum ( ▼ 2.71% ) Power Grid Corp ( ▼ 2.08% ) SBI ( ▼ 2.07% )   Inflation: CPI Softens Over July; WPI Positive Again Consumer Price Index (CPI) in August stood at 6.69% as compared to 6.73% in July 2020. Food inflation for the previous month was 9.05%, down from 9.27% in July 2020. Wholesale Price Inflation (WPI) rose 0.16% previous month as against a contraction of 0.58% in July. WPI was in the negative zone between April and July this year. The wholesale food index in August stood at 4.07% and 4.32% in July. WPI take