Share Market Highlights- Nifty settles above 20050, Sensex above 67450; Bank Nifty adds over 350 points; PSU Bank and Media stocks surge

Share Market Highlights: Nifty settles above 20050, Sensex above 67450; Bank Nifty adds over 350 points; PSU Bank and Media stocks surge

Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indicesended the Wednesday’s trading session in the positive territory. The NSE Nifty 50 rose 0.38% to settle at 20,070, while the BSE Sensex added 245.86 points to settle at 67,466.99. Mid- and small-cap stocks took the lead in driving gains among the broader market indices. The Bank Nifty surged as much as 398.10 points to settle at 45,909.45. The other sectoral indices were broadly trading in the green, with gains led by PSU Bank, Media, and Pharma stocks, while IT and Auto stocks faced corrections. The relative volatility in the market was higher and the VIX was up by 1.17%.Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates

15:34 (IST) 13 Sep 2023 Markets at close

The NSE Nifty 50 rose 0.38% to settle at 20,070, while the BSE Sensex added 245.86 points to settle at 67,466.99.

14:44 (IST) 13 Sep 2023 USDINR Outlook

“USDINR CMP- 82.9750 (spot) Indian Rupee depreciated on Wednesday on strong Dollar and surge in global crude oil prices. We expect Rupee to trade with a slight negative bias on rising US Dollar and surge in crude oil prices. Risk aversion in global markets may also weigh on Rupee. However, a positive tone in domestic markets may support Rupee at lower levels. Traders may remain cautious ahead of US CPI data. USDINR spot price is expected to trade in a range of Rs 82.70 to Rs 83.30,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.

14:36 (IST) 13 Sep 2023 PSU Bank Index zooms

The Nifty PSU Bank index soared 3.85% with the help of gains led by PNB at 7.48% and the Central Bank of India at 7.05% during the intraday trade on Wednesday.

13:53 (IST) 13 Sep 2023 Bank Nifty soars

The Nifty Bank Index added as many as 363 points to trade at 45,874.35 during the intraday trade on Wednesday. PNB and Bank of Baroda led gains with 6.88% and 3.43%, respectively.

13:37 (IST) 13 Sep 2023 Coal India surges

The stock price of Coal India surged by 3.42% during the intraday trade on Wednesday due to the company's announcement of a capital investment of approximately Rs 24,750 crore in 61 FMC projects over the next few years. The investment is aimed at enhancing eco-friendly coal transportation.

12:34 (IST) 13 Sep 2023 RR Kabel IPO opens for subscription

RR Kabel IPO opens for public subscription on Wednesday, September 13, and will close on Friday,  September 15, 2023. The price band for its public issue at Rs 983-1,035 per equity share of face value Rs 5 each.

10:59 (IST) 13 Sep 2023 KEC International hits all time high

The stock price of KEC International surged as much as 3.84 percent to hit its 52-week high of Rs 747.70 during the intraday trade on Wednesday.

10:01 (IST) 13 Sep 2023 Realty Stocks tumble

The Nifty Realty Index plunged 1.28% during the intraday trade on Wednesday. Macrotech Developers and The Phoenix Mills led the losses with losses of 4.65% and 1.95%, respectively.

09:35 (IST) 13 Sep 2023 USD-INR outlook

As per the daily technical chart, the pair is having support at 82.85-82.70 while resistance is placed at 83.20-83.35. If the pair crosses its crucial resistance level of 82.80 and sustains above this level, it could witness further strength towards 83.20-83.35 with support being placed at 82.85-82.70. We suggest closely watching the level of 82.85-83.10 for taking fresh positions in the pair; either side breakout of the range could give further directions,” said Rahul Kalantri, VP Commodities, Mehta Equities.

09:20 (IST) 13 Sep 2023 Markets at Open

The NSE Nifty 50 opened 0.08% lower at 19,989.50, while the BSE Sensex opened at 67,188.64, down by 0.04%.

09:06 (IST) 13 Sep 2023 Technical view

“While the medium-term structure of the market is still positive, we believe that the market will experience range-bound movement in the near future. For traders, it is important to note that 19,900 could be a key support level while 20,070 – 20,110 could be immediate resistance zones for the bulls. It is advisable for traders to sell on an upswing till the markets do not cross 20,110,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.

08:54 (IST) 13 Sep 2023 Bank Nifty outlook

“We believe that there could be a consolidation in the range of 45,800 – 45,000 from short term perspective. Daily and hourly momentum indicator are providing divergent signals which could lead to a consolidation in the near term,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

08:43 (IST) 13 Sep 2023 F&O ban today

The NSE has added BHEL, Chambal Fertilisers & Chemicals, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, Indian Energy Exchange, Manappuram Finance, National Aluminium Company and SAIL to its F&O ban list for September 13, 2023.

08:31 (IST) 13 Sep 2023 FII, DII Data

Foreign institutional investors (FII) offloaded shares worth net Rs 1,047.19 crore, while domestic institutional investors (DII) purchased shares worth net Rs 259.48 crore on September 12, 2023, according to the provisional data available on the NSE.

08:19 (IST) 13 Sep 2023 Retail Inflation rate eases

According to the data released by the National Statistical Office (NSO) on Tuesday, the retail inflation rate in India eased to 6.83% in August from a 15-month high of 7.44% in July 2023, primarily due to a slide in the prices of food items, especially vegetables.

08:10 (IST) 13 Sep 2023 Technical cues for the day

“Both price and momentum indicators suggest that there could be consolidation over the next few trading sessions. Overall, the short-term outlook is positive and this consolidation is likely to be used as a buying opportunity. In terms of levels, 19,865 – 19,810 is the crucial support zone while 20,200 – 20,250 shall act as an immediate hurdle zone,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.