Special 
Stock Market Live Updates Today, 13 September 2022: Sensex and Nifty extended their gains for the fourth straight session amid positive global cues. Indian equity benchmarks climbed to a five-month high on Tuesday, boosted by sharp gains in financials stocks -- led by Bajaj Finserv -- metal and consumer durables. The domestic indices extended their gains for the fourth straight session amid positive global cues. Asian stocks climbed while other markets held steady ahead of U.S. inflation data that will offer a crucial guide to the interest rate outlook. Wall Street indexes posted a fourth straight session of gains overnight, while the U.S. dollar retreated further from milestone highs - partly on hopes that the prices data, due at 6 pm, might offer another signal that inflation has peaked.
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Market participants looked past a higher-than-expected India's inflation print. Retail inflation rose to 7 per cent in August, stalling a three-month downtrend on soaring food costs. The figure stayed above the Reserve Bank of India's (RBI's) upper tolerance range of 6 per cent for the eighth consecutive month. High inflation data paves the way for RBI to hike interest rates more aggressively to tame surging prices even at the cost of the economy.
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Here are the share market highlights:
Bajaj Holdings & Investment Ltd said it has declared an interim dividend of Rs 110 (1,100 per cent) per equity share of face value of Rs 10, for the financial year ending March 31, 2023 (FY23). The dividend would be credited/dispatched on or around Monday, October 10, 2022, the company added. Shares of Bajaj Holdings rose 0.09 per cent to close at Rs 6,624.95.
"Positive indicators from the domestic economy, such as FII inflow, improving macro-parameters, and decreased inflation, were the key factors for the current surge in the Indian market. However, the global markets have recently joined the rally ahead of the release of US inflation data, as the market expects further ease in inflation, which would help the Fed take a less hawkish stance. Although the domestic CPI at 7 per cent indicates a rising inflation trend due to increased food prices, core inflation of 5.9 per cent offers some solace. The policy decisions made by the RBI and Fed at their upcoming policy meetings will drive the market going ahead": Vinod Nair, Head of Research at Geojit Financial Services.
"Nifty index surpassed the psychological mark of 18,000 and managed to close above it indicating the continuation of the ongoing momentum. The index lower end support stands at the 17,900-17,875 zone and as long as the mentioned support is held it remains in a buy mode. The index immediate resistance on the upside is at 18,100 and once taken out will open the room for 18,400-18,500 on the upside. Bank Nifty index witnessed a gap up opening and sustained the level throughout the day which confirms the strength. The index immediate hurdle is placed at 41,000 where the highest open interest is built up on the call side and once breached will see a sharp sort covering towards 41,500-41,800 levels": Kunal Shah, Senior Technical Analyst at LKP Securities
The overall market breadth stood positive as 1,862 shares advanced while 1,636 declined on BSE. The market capitalization (m-cap) of BSE listed companies stood at Rs 286.73 lakh crore.
On the stock-specific front, Bajaj Finserv was the top Nifty gainer as the stock soared 4.74 per cent to close at Rs 1,795.10. Tata Consumer Products, IndusInd Bank, Britannia and Bharti Airtel were also among the gainers. In contrast, Shree Cement, Cipla, Eicher Motors, Divi's Lab and BPCL were among the top laggards.
11 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the green. Sub-indexes Nifty Financial Services, Nifty Metal and Nifty Consumer Durables outperformed the NSE platform by rising as much as 0.91 per cent, 1.28 per cent and 0.97 per cent, respectively.
Mid- and small-cap shares finished on a positive note as Nifty Midcap 100 and small-cap edged 0.16 per cent, respectively.
Sensex surged 456 points or 0.76 per cent to close at 60,571, Nifty moved 134 points or 0.75 per cent higher to settle at 18,070
Nifty Bank climbed 0.77 per cent to trade at 40,886 in late deals
Sensex rises 463 points or 0.77 per cent to trade at 60,578, Nifty moves 130 points or 0.73 per cent to trade at 18,066
There is a paradigm shift in interest rates in the ongoing calendar year. The Reserve Bank of India (RBI) has upped repo rate by 140 basis points in response to the elevated inflation trajectory. There are hopes that policy rates may increase further by December 2022 before taking a pause. How the rising interest rates can impact debt market and how can investors benefit from rising interest rates? In an interaction with Business Today, Vikas Garg, Head of Fixed Income, Invesco Mutual Fund shared his views on the debt market amid rising interest rates. (Read more)
Sensex zooms 502 points or 0.84 per cent to trade at 60,618, Nifty moves 146 points or 0.82 per cent to trade at 18,083
Benchmark equity index NSE Nifty on Tuesday reclaimed the psychologically important 18,000-mark for the first time since April 5, 2022. Markets watchers believe that return of overseas investors have fuelled sentiment on D-Street. (Read more)
Indian equities saw ferocious selling by foreign institutional investors (FIIs) amid the ongoing global economic concerns of crude and gas price hikes, rising inflation, and currency depreciation against the US dollar. Only in the first eight months of 2022 till August 31, FIIs have sold shares worth Rs 2.68 lakh crore in the Indian equity market. (Read more)
At a time when shares of most of the start-ups and digital majors that listed on the bourses last year are trading well below their respective issue prices, the capital markets regulator Securities and Exchange Board of India (SEBI) has said that it does not have any say in the pricing of the initial public offers (IPOs) but can only insist on full disclosures. (Read more)
As the moonlighting debate in the IT sector intensifies, Indian software giant Infosys has warned its employees against taking up secondary employment in an email sent out by the HR department. (Read more)
Adani Transmission said it has incorporated its wholly owned subsidiary -- Adani Electricity Jewar Ltd (AEJL) -- with an initial authorised and paid up capital of Rs 1 lakh each to, inter alia, carry on the business of transmission, distribution and supply of power and other infrastructure services. AEJL will commence its business operations in due course, the company added.
Sensex surges 485 points or 0.81 per cent to trade at 60,600, Nifty moves 143 points or 0.80 per cent to trade at 18,079
Shares of Bajaj Finserv were the top Sensex and Nifty gainers today after the stock turned ex-split today. Additionally, the firm was also trading ex-bonus that was announced in the ratio of 1:1. (Read more)
Shares of HDFC Life Insurance Company gained over 4 per cent today amid reports that UK-based investment company Abrdn sold up to 4.3 crore shares in the private insurance player. (Read more)
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