Market Commentary     24-Sep-24
Mid-Session
Barometers hit fresh life high; Auto shares rally
The headline equity benchmarks traded with decent gains in mid-afternoon trade. The Nifty traded above the 25,950 mark after hitting the day’s low of 25,886.85 in early trade. Auto shares witnessed buying demand for the fourth consecutive trading session.

At 13:30 IST, the barometer index, the S&P BSE Sensex rose 124.49 points or 0.15% to 85,052.77. The Nifty 50 index rose 35.20 points or 0.14% to 25,974.25.

The Sensex and Nifty clocked an all-time high of 85,116.90 and 25,993.40, respectively in mid afternoon trade.

In the broader market, the S&P BSE Mid-Cap index added 0.20% and the S&P BSE Small-Cap index rose 0.06%.

The S&P BSE Small-Cap index and S&P BSE Mid-Cap index hit an all-time high at 57,728.08 and 49,701.15, respectively.

The market breadth was negative. On the BSE, 1,951 shares rose and 1,994 shares fell. A total of 95 shares were unchanged.

Buzzing Index:

The Nifty Auto index rose 0.49% to 26,936.10. The index rallied 4.38% in four consecutive trading sessions.

Apollo Tyres (up 1.23%), Mahindra & Mahindra (up 1.07%), Exide Industries (up 1.03%), Tata Motors (up 0.85%), TVS Motor Company (up 0.68%), Bosch (up 0.57%), Bajaj Auto (up 0.52%), Ashok Leyland (up 0.36%), MRF (up 0.34%) and Maruti Suzuki India (up 0.28%) advanced.

Numbers to Track:

The yield on India's 10-year benchmark federal paper shed 0.07% to 6.878 as compared with previous close 6.883.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.6400, compared with its close of 83.5475 during the previous trading session.

MCX Gold futures for 4 October 2024 settlement rose 0.21% to Rs 75,100.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 100.84.

The United States 10-year bond yield grew 1.43% to 3.793.

In the commodities market, Brent crude for November 2024 settlement gained $1.07 or 1.45% to $74.97 a barrel.

Stocks in spotlight:

JTL Industries jumped 8.19% after the company’s board will meet on 3 October 2024 to consider sub-division/split of equity shares having face value of Rs 2 each.

Spandana Sphoorty Financial rose 1.16% after the board of the microfinancier approved a proposal to sell the stressed loan portfolio of the company to an asset reconstruction company (ARC) for Rs 16.74 crore.

Previous News
  CARE downgrades credit ratings of Spandana Sphoorty Financial
 ( Corporate News - 12-Jun-25   16:46 )
  Spandana Sphoorty Financial receives downgrade in credit ratings
 ( Corporate News - 12-Jun-25   16:44 )
  Spandana Sphoorty Financial receives downgrade in credit ratings
 ( Corporate News - 11-Jun-25   15:31 )
  India Ratings downgrades ratings of Spandana Sphoorty to 'A-' with 'negative' outlook
 ( Hot Pursuit - 11-Jun-25   14:39 )
  Spandana Sphoorty Financial reports consolidated net loss of Rs 434.30 crore in the March 2025 quarter
 ( Results - Announcements 01-Jun-25   09:16 )
  Spandana Sphoorty Financial announces board meeting date
 ( Corporate News - 28-May-25   15:53 )
  Board of JTL Industries recommends final dividend
 ( Corporate News - 27-May-25   18:50 )
  JTL Industries consolidated net profit declines 43.05% in the March 2025 quarter
 ( Results - Announcements 27-May-25   18:07 )
  JTL Industries to discuss results
 ( Corporate News - 20-May-25   17:22 )
  Spandana Sphoorty rallies as board appoints Ashish Kumar Damani as interim CEO
 ( Hot Pursuit - 24-Apr-25   14:56 )
  Jammu and Kashmir Bank Ltd leads losers in 'A' group
 ( Hot Pursuit - 23-Apr-25   15:00 )
Other Stories
  Indices trade moderate cuts; auto shares slide
  30-Jun-25   14:40
  Nifty fails to hold 25,550 mark; European mrkt decline
  30-Jun-25   13:45
  Nifty below 25,600 level; FMCG shares decline
  30-Jun-25   12:35
  Barometers turn range bound, realty shares extent losses for 3rd day
  30-Jun-25   11:37
  Nifty slides below 25,600; private bank shares under pressure
  30-Jun-25   10:39
  Indices trade sideways in early trade; breadth strong
  30-Jun-25   09:35
  Sensex, Nifty trade with minor gains; media shares in demand
  27-Jun-25   14:33
  Nifty trades above 25,600 level; European mrkt opens higher
  27-Jun-25   13:31
  Nifty trades above 25,600; metal shares rally for 6th day
  27-Jun-25   12:35
  Sensex jumps 161 pts, Nifty trades above 25,600; oil & gas shares in demand
  27-Jun-25   11:33
Back Top