Sensex Rises 236 Pts While Nifty Gains 38 Pts on September 19, 2024

Nifty ? ? ? ??25,415 [+38.25] 0.15

Sensex ? ?83,184 [+236.57] 0.29?

Reasons for Market Up

• The Federal Reserve’s significant rate cut boosted initial optimism in the market. This led to a positive start and gains for major indices. The rate cut increased investor confidence and triggered buying in the early session.

• Both the Nifty 50 and Sensex reached record highs during the trading day. This strong performance of major indices contributed to the overall market being up.

• Banking stocks continued their upward trajectory for the second consecutive day, providing support to the indices. Additionally, FMCG stocks offered some stability, contributing to the positive movement of the major indices.

• Although the Nifty 50 and Sensex ended in the green, mid and small-cap stocks faced significant declines. This divergence highlights that while major indices were up, broader market segments struggled, indicating mixed overall performance.

Top 3 Stocks That Gained The Most?

Nifty?

NTPC: +2.38

Titan: +1.82

Nestle India: +1.77

Sensex

NTPC: +2.45

Kotak Mahindra: +1.82

Titan Company: +1.56

Sectors of the Day?

Nifty FMCG: +0.56

Nifty Private Bank: +0.56

Nifty Bank: +0.54

• NTPC shares rose today as its subsidiary filed a Draft Red Herring Prospectus (DRHP) for a Rs 10,000 crore IPO. This move likely boosted investor confidence in NTPC, anticipating potential growth and increased value from the subsidiary’s upcoming public offering.

IPO Performance

• Arkade Developers Limited IPO’s allotment is scheduled for September 20, 2024.?

• Northern Arc Capital Limited IPO’s allotment is scheduled for September 20, 2024.?

• Sodhani Academy of Fintech Enablers Limited IPO shares are expected to be listed on the NSE SME platform around September 20, 2024.

• Envirotech Systems Limited IPO shares are expected to be listed on the NSE SME platform around September 20, 2024.

Key Events to Track For 20th September 2024?

• Monitor international markets for any significant developments or trends that could impact Indian markets.?

• Keep an eye on scheduled economic data releases such as GDP figures, industrial production data, or inflation reports, as they can influence market sentiment and direction.?

• Track earnings announcements from major companies across sectors, to gauge the health of the corporate sector and anticipate market reactions.?

• Stay informed about any policy announcements or decisions by the Indian government, as they can impact market sentiment and specific industries.?

• Stay updated on global events as they can affect Indian markets and investor sentiment.

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