Sensex and Nifty Aim for New All-Time Highs as Bulls Take Charge

Sensex and Nifty Aim for New All-Time Highs as Bulls Take Charge

VoM News Desk | September 11, 2023 | 04:27 AM IST | Breaking News | Follow on Google News

Sensex and Nifty Aim for New All-Time Highs as Bulls Take Charge. Image/Mint

11 Sep 2023, 09:38:23 AM IST

Positive Start for Sensex and Nifty The Sensex and Nifty commenced the week on a positive note, with a clear intention to set new all-time highs. All sectors are trading higher, buoyed by bullish sentiments in the market. Analysts are optimistic about the spot Nifty index, projecting that it may soon test its record high of 19991.85, achieved on 20 July. The market appears poised to breach the psychologically significant 20,000 mark.

Foreign Portfolio Investors Turn Net Sellers In September, Foreign Portfolio Investors (FPIs) have emerged as net sellers in the Indian market. This shift in sentiment comes amidst concerns over rising US bond yields and a stronger dollar. FPIs have offloaded Indian equities worth ₹4,203 crore while infusing ₹3,636 crore into the market as of September 8.

Wall Street’s Mixed Performance Wall Street stocks saw a modest increase on Friday, but it wasn’t enough to offset the losses incurred earlier in the week. Wall Street faced its first losing week in the last three. Concerns persist that the Federal Reserve might opt for rate hikes to control inflation.

Multibagger Stock ADF Foods Undergoes Stock Split

11 Sep 2023, 09:29:08 AM IST

ADF Foods: A Remarkable Success Story In 2023, ADF Foods has emerged as a standout success story in the Indian stock market. This small-cap gem, with a market capitalization of approximately ₹498 crore, has undergone an extraordinary journey, soaring from ₹140 per share to ₹1135 per share over the past three years. This remarkable performance has translated into an astounding 700 percent return for its long-term shareholders.

Stock Split for ADF Foods Today, ADF Foods takes the spotlight as it undergoes a stock split. The company’s board of directors has approved a stock split in a 1:5 ratio. Furthermore, they have set September 11, 2023, as the record date for this stock split.

PSU Banks Start Strong 11 Sep 2023, 09:24:32 AM IST

PSU Bank Surges In early trading, PSU banks have shown remarkable strength, with nearly all stocks trading in the green. The banking sector’s robust performance is contributing to the overall positive sentiment in the market.

Market Analysis by Geojit Financial 11 Sep 2023, 09:23:35 AM IST

Cautious Optimism Prevails Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, shares insights into today’s market dynamics. He points out that the G20 Delhi Declaration and India’s diplomatic triumph can trigger a continuation of the positive market mood and momentum. The inclusion of the African Union in G20 and the proposed India-Middle East-Europe Corridor have positive economic and market connotations.

Despite the optimism, Dr. Vijayakumar advises caution, highlighting that fundamentals do not strongly support a sustained rise above the 20,000 mark. Large FII selling may resurface at higher levels. The market appears to be overlooking concerns related to crude oil prices, and profit booking in small-caps is advisable. Safety, he suggests, lies in quality large-cap stocks.

Market Surge in Early Trading 11 Sep 2023, 09:23:35 AM IST

Bullish Start Indices have witnessed a surge in early trading, with Nifty hovering around 19,900 and Sensex around 66,900. This robust performance is across all sectors, adding to the positive market sentiment.

Promising Indicators for the Market 11 Sep 2023, 09:11:09 AM IST

Positive Outlook by Choice Broking Choice Broking shares pre-market views on today’s market, emphasizing some promising indicators. The India VIX, which gauges market fear, has settled below 11 levels, indicating optimism and confidence in the ongoing rally. India’s benchmark indices have had a stellar week, particularly in midcap and small-cap segments.

The positive outcomes expected from the G20 summit, especially regarding green hydrogen and the India-Middle East-Europe Economic Corridor, have fueled this surge. The market inches closer to the significant 20,000 milestone, driven by favorable global indicators and enthusiastic Foreign Institutional Investors (FIIs) participation. Nifty is believed to have solid support levels in the range of 19650-19700, while Bank Nifty finds support around 44500.

Sensex Begins Pre-Open Session in the Green 11 Sep 2023, 09:03:36 AM IST

Market Opens with Marginal Gains Sensex pre-opened in the green with marginal gains, indicating a positive outlook for today’s session. Stocks like RIL, TCS, and Adani Group remain in focus as indices aim for new highs.

Samhi Hotels Announces IPO Price Band 11 Sep 2023, 08:54:52 AM IST

Samhi Hotels IPO Details Samhi Hotels has disclosed the price band of ₹119 to ₹126 per share for its upcoming initial public offering (IPO). The IPO is set to open for public subscription on September 14 and will close on September 18. The anchor investor bidding for the initial share sale of Goldman Sachs-backed Samhi Hotels will commence on September 13.

SJVN Signs Agreement for Solar Project 11 Sep 2023, 08:54:03 AM IST

SJVN’s Renewable Energy Project State-owned SJVN Ltd has signed an agreement with Bhakra Beas Management Board (BBMB) to establish an 18-megawatt (MW) solar power project, with an investment of ₹90 crore. The project will be developed on land parcels owned by BBMB in Himachal Pradesh and Punjab.

Panasonic Aims to Boost Solar Business 11 Sep 2023, 08:37:36 AM IST

Panasonic’s Ambitious Plans Panasonic Electric Works India, a subsidiary of Japan’s Panasonic Corp., is planning to double its solar module business within three years and increase its exports. Currently contributing 6% to its overall business, Panasonic aims for this segment to reach double-digit contribution in the next three years. It also intends to position India as an export hub, with the share of exports in its entire business expected to increase from 25% to 30% this financial year.

Balaji Amines Subsidiary Withdraws DRHP 11 Sep 2023, 08:30:33 AM IST

Withdrawal of DRHP Balaji Amines Ltd’s subsidiary, Balaji Speciality Chemicals Ltd, has decided to retract the Draft Red Herring Prospectus (DRHP) that was previously submitted to the Securities and Exchange Board of India (SEBI). The withdrawal decision was made in the Board Meeting held on September 8, 2023.

Insolvency Plea Against Coffee Day Enterprises 11 Sep 2023, 08:29:13 AM IST

IDBI Trusteeship Initiates Insolvency Proceedings IDBI Trusteeship has moved the Bengaluru bench of the National Company Law Tribunal to initiate insolvency proceedings against Coffee Day Enterprises Ltd for an alleged default of ₹228 crore.

Meta’s New AI Model 11 Sep 2023, 08:07:48 AM IST

Meta’s Advanced AI System Meta is reportedly working on a new AI system expected to surpass OpenAI’s GPT-4 in terms of power. This AI model is set to be ready next year, with training possibly commencing in early 2024. The system aims to assist companies in developing advanced text analysis and other AI-powered services.

Stocks to Watch 11 Sep 2023, 08:05:44 AM IST

Stock Market Highlights Today’s stocks to watch include RIL, TCS, Adani Enterprises, Adani Ports, Kotak Bank, SJVN, Rishabh Instruments, Ratnaveer Precision, NTPC, Zee Entertainment, VRL Logistics, Balaji Amines, and Coffee Day Enterprises. In addition, Nvidia has partnered with Reliance and Tata group companies to develop AI-powered technologies. The Adani Group’s promoter firm has increased its stake in Adani Enterprises and Adani Ports as part of its recovery strategy.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.