Daily Stock Market News

Stock Market LIVE: Indices open in red, Sensex below 59k; Fortis in focus

Stocks fell on Thursday as central banks around the world hiked interest rates to fight inflation. Central banks in Europe and Asia raised interest rates a day after the Federal Reserve made another big rate hike and indicated that more were on the way.

23 Sep 2022, 09:12:38 AM IST

Indian Oil plans Panipat refinery maintenance, to revamp naphtha cracker – sources

Indian Oil Corp plans maintenance at its 300,000 barrels per day (bpd) Panipat refinery in northern India, which includes a shutdown of a naphtha hydrocracker for about 80 days and half of its crude processing for about a month, sources said.

The country’s top refiner will shut the naphtha cracker at its Panipat plant from Monday for a revamp aimed at raising its ethylene production capacity, the sources familiar with the plan said.

The cracker annually consumes about 2.3 million tonnes of naphtha and produces 857,000 tonnes of ethylene. (Reuters)

23 Sep 2022, 09:04:34 AM IST

Sensex remains flat at preopen with a marginal tilt towards the green. Airtel, M&M Financials, Hero MotoCorp stocks are in focus

Sensex at Preopen

View Full Image

Sensex at Preopen
23 Sep 2022, 09:00:38 AM IST

₹20 to ₹3820: Multibagger stock turns ₹1 lakh to ₹1.91 crore in 15 years

Solar Industries shares are one of the multibagger stocks in Indian stock market. Ever since its listing, the energy stock has been continuously giving stellar return to its shareholders. In last 15 years, Solar Industries share price has ascended from around 20 to 3,827 apiece levels, appreciating to the tune of near 91 times in this long term. (Read More)

23 Sep 2022, 08:50:24 AM IST

Weaker rupee likely to spook Nifty on Friday

A day after the rupee closed at its lowest level of 80.87 to the USD, Indian equities are likely to open almost 100 points lower at the opening Friday.

The SGX Nifty, which traded at 17536.5 as of writing, reflected a 93.5 point gap down by the benchmark Nifty when it opens at 9:15 am. (Full Story)

23 Sep 2022, 08:48:57 AM IST

Stocks to Watch: M&M Financials, Fortis, Airtel, Hero MotoCorp, Lupin, Exide Industries, Century Textiles, Axis Bank, Bharti Airtel, Raymond

Ambuja Cements, Delta Corp, RBL Bank, Can Fin Homes, and Punjab National Bank will be under the F&O ban list for Thursday. These stocks will be under the ban for the F&O segment as they have crossed 95% of the market-wide position limit (MWPL), as per the NSE. (Read More)

23 Sep 2022, 08:28:51 AM IST

India’s Reliance to buy 20% stake in Caelux Corp for $12 million

Indian oil-to-chemicals conglomerate Reliance Industries Ltd said on Friday it would invest $12 million for a 20% stake in solar technology developer Caelux Corp to produce more powerful and lower cost solar modules. (Reuters)

23 Sep 2022, 08:28:03 AM IST

Rupee may fall to near 81 per dollar on surging U.S. yields, importer hedging

The Indian rupee is tipped to extend its decline to a new record low on Friday, on the back of Treasury yields climbing to fresh multi-year highs and dollar demand from importers.

The rupee is expected to open at around 81 per U.S. dollar, down from 80.86 in the previous session.

On Thursday, the local unit had suffered its biggest single-session percentage decline since February, due to lack of aggressive intervention by the Reserve Bank of India (RBI) and a very U.S. hawkish Federal Reserve rate outlook, traders said. (Reuters)

23 Sep 2022, 08:10:40 AM IST

Buy or sell: Vaishali Parekh recommends 2 stocks to buy today — Sept 23

Following weak global cues on rising dollar index, Indian stock market ended in negative territory on second straight session on Thursday. NSE Nifty finished 88 points lower at 17,629 levels whereas BSE Sensex slashed 337 points and closed at 59,119 mark. Bank Nifty index nosedived 572 points and closed at 40,630 levels. Vaishali Parekh, Vice President – Technical Research at Prabhudas Lilladher believes that market is rangebound but overall outlook is positive.

Vaishali Parekh of Prabhudas Lilladher has recommended two stocks to buy today and those two stocks are Titan Company and Hindustan Unilever. Here we list out important details in regard to these stock recommendations by Vaishali Parekh:

1] Titan Company: Buy at 2737, target 2830, stop loss 2690; and

2] Hindustan Unilever: Buy at 2692, target 2770, stop loss 2650.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.

23 Sep 2022, 08:04:25 AM IST

All metal companies of Tata group merged into Tata Steel. Details here

The board of directors of Tata group has approved amalgamation of all metal companies of Tata group into Tata Steel. The company board in its Thursday meeting approved merger of its seven metal companies with its parent metal company Tata Steel Limited. Those seven metal companies of Tata group that will be merged with Tata Steel are Tata Steel Long Products Limited, The Tinplate Company of India Limited, Tata Metaliks Limited, TRF Limited, The Indian Steel & Wire Products Limited, Tata Steel Mining Limited and S & T Mining Company Limited. (Read More)

23 Sep 2022, 08:03:18 AM IST

Sitharaman: Government making efforts to keep inflation under 4 per cent

Union Finance Minister Nirmala Sitharaman on Thursday said the government was making efforts to keep inflation under 4 per cent and steps were being taken to ensure people get essential goods at fair price and on time. Addressing a press conference near Pune city on the sidelines of a programme, she said steps were being taken to keep inflation at a certain level. Replying to a question on rising prices, the minister said, “As far as inflation is concerned, I have been answering questions (on the issue) in Parliament every time they have been raised. Steps were being taken to keep inflation at one level, for example, duty on imported edible oil is being removed so that affordable oil comes into the country.” (PTI)

23 Sep 2022, 07:46:44 AM IST

Piramal Enterprises stock soars ahead of ₹750 cr fundraising proposal meet. Should you buy?

Conglomerate Piramal Enterprises witnessed a bull run on Thursday ahead of its board of directors meeting to consider a fundraising proposal to the tune of 750 crore on private placements. Piramal shares climbed more than 2.5% during the day. Analysts at Emkay Global have given a ‘buy’ rating on Piramal shares as they expect the company’s loan book to almost double to 1.21 lakh crore by FY27E at a CAGR of 15%. Post the de-merger of its pharmaceutical business, the NBFC has a presence across both retail and wholesale financing and assets under management (AUM) of 645.9 billion. (Read More)

23 Sep 2022, 07:45:55 AM IST

Gold’s decadal returns among the worst in history

Gold has had a difficult decade. With a return of just 3.4% in rupee terms in the 10 years ending 16 August,gold investors have been unable to even beat inflation. This is highly unusual for the precious metal. A Mint analysis of 10-year rolling returns for gold (based on WorldGoldCouncil price data) shows it has delivered a 10-year return lower than 3.4% CAGR only 3% of the time if you look at data starting 1979-89.

With a return of just 3.4% in rupee terms in the 10 years ending 16 August, gold investors have been unable to even beat inflation. (Read More)

23 Sep 2022, 07:38:31 AM IST

Bank of England raises rates but avoids bolder hike like Fed

The Bank of England raised its key interest rate Thursday by another half-percentage point to the highest level in 14 years, but despite facing inflation that outpaces other major economies, it avoided more aggressive hikes made by the U.S. Federal Reserve and other central banks.

It is the Bank of England’s seventh straight move to increase borrowing costs as rising food and energy prices fuel a cost-of-living crisis that is considered the worst in a generation. Despite facing a slumping currency, tight labor market and inflation near its highest level in four decades, officials held off on acting more boldly as they predicted a second consecutive drop in economic output this quarter, an informal definition of recession. (AP)

23 Sep 2022, 07:32:58 AM IST

Air India in sale, leaseback deal for 34 engines with US-based Willis Lease Finance

Air India has signed a sale and leaseback agreement with US-based Willis Lease Finance Corp for 34 engines to power 17 aircraft of the Airbus A320 family.

Under the agreement, Willis Lease will purchase from Air India 34 CFM56-5B engines to power 13 Airbus A321 aircraft and 4 Airbus A320 airplanes and lease them back to the airline. Willis Lease will also provide replacement and standby spare engines to Air India as per the agreement.

23 Sep 2022, 07:30:03 AM IST

Rupee tanks 83 paise to close at record low of 80.79 on Fed rate hike

The rupee plunged by 83 paise — its biggest single-day loss in nearly seven months — to close at an all-time low of 80.79 against the US dollar on Thursday after the US Federal Reserve’s interest rate hike and its hawkish stance weighed on investor sentiments.

Forex traders said the US Fed’s rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite.

Moreover, the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.

At the interbank foreign exchange market, the local currency opened at 80.27, then fell further to an all-time intra-day low of 80.95 against the American currency. (PTI)

23 Sep 2022, 07:29:24 AM IST

Wall Street ends lower as global central banks raise rates

Stocks fell again Thursday, deepening Wall Street’s losses for the week, as central banks around the world hiked interest rates to fight inflation.

The S&P 500 fell 0.8%, its third straight drop. The benchmark index is down about 3% so far this week.

The Dow Jones Industrial Average fell 0.4% and the Nasdaq composite lost 1.4%. The Russell 2000 index of smaller company stocks fell 2.3%, a sign investors are worried about the economy. The major indexes are on pace for their fifth weekly loss in six weeks.

the App to get 14 days of unlimited access to Mint Premium absolutely free!

Read More: Stock Market LIVE: Indices open in red, Sensex below 59k; Fortis in focus

You might also like
A note to our visitors

This website has updated its privacy policy in compliance with changes to European Union data protection law, for all members globally. We’ve also updated our Privacy Policy to give you more information about your rights and responsibilities with respect to your privacy and personal information. Please read this to review the updates about which cookies we use and what information we collect on our site. By continuing to use this site, you are agreeing to our updated privacy policy.