Month: October 2023

Indian Railways reveals progress on nation’s first Vertical Lift railway sea bridge! Check latest update, speciality and more

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Indian Railways is working round-the-clock to complete the construction of the new Pamban Railway sea bridge in Tamil Nadu. This iconic rail bridge will connect Rameswaram Island to the mainland. It is expected to be completed by the end of the current financial year.Rameshwaram stands as a significant tourist and pilgrimage site due to its renowned Rameshwaram Temple which is home to one of the 12 Jyotirlingas.

Construction status of new Pamban rail bridge:-

The national transporter has completed 92 percent of the construction work. The rail bridge falls under the administrative jurisdiction of Southern Railway (SR). It is engaged with Rail Vikas Nigam Limited (RVNL) for completion of the bridge. Earlier, it was targeted to be completed by the end of March 2023.

Speciality of new Pamban rail bridge

The speciality of this new Pamban bridge will be the 72 metre long Vertical lift span. This will allow the lifting of this span by 17m to allow ships to pass below the lifted bridge. The new bridge will have electro mechanical controlled systems which will be interlocked with train control systems.

Existing Pamban bridge

The existing Pamban rail bridge was commissioned in 1914. The bridge attracts thousands of tourists from across the globe. The bridge has already served more than 108 years which is much more than its codal life.

Buy these two stocks for near-term gains as Nifty’s immediate trend turns negative

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By Nagaraj Shetti

After showing weakness from the new all-time high of 15431 on Tuesday, Nifty slipped into follow-through decline on Wednesday and closed the day lower by 104 points. The attempt of intraday upside bounce has failed and Nifty showed weakness amidst high volatility in the afternoon to later part of the session.

The minor positive chart pattern like higher highs and higher lows is in play on the daily chart. As long as Nifty sustains above 15000 levels, there is a possibility of an upside bounce from the lower levels by forming a new higher low of the sequence. The opening upside gap formed on 15th Feb has been filled completely at 15180 and Nifty placed above it. The recent upside bounce has occurred from the support of another opening upside gap of 8th Feb at 14977.

Though Nifty declined by 105 points on Wednesday, the overall market breadth was resilient and the broad market indices like midcap 100 and smallcap 100 of NSE have closed slightly higher by 0.31% and 0.03% respectively. This could be hope for bulls to make a comeback from the lows.

The short term trend seems to have turned down and the near term uptrend status remains intact for the Nifty. The weakness of the last two sessions is expected to complete in the next 1-2 sessions. Important supports to be watched around 15000 and we expect the market to show upside bounce from the lows. On the contrary side, a decisive move below this 15K mark could open more weakness in the short term.  

Stock Picks: 

Buy Cummins India Ltd (CMP Rs 794) 

After showing minor weakness in the last week, the stock price (Cummins) has witnessed a sustainable upside bounce so far this week-as per weekly time frame chart. We observe a larger positive sequence like higher highs and higher lows as per weekly time frame chart. The higher low as compared to higher high has been smaller in size, which indicate a lack of selling enthusiasm in the participants at the highs. The volume and RSI shows positive indication.

Buying can be initiated in Cummins India Ltd at CMP (794), add more on dips down to Rs 765, wait for the upside target of Rs 875 in the next 3-4 weeks. Place a stoploss of Rs 745.

Buy Bank of Baroda (CMP Rs 84.15) 

The PSU Banking stocks have been outperforming in the last few weeks and this stock (Bank of Baroda) was too in limelight. We observe a larger rounding bottom formation as per weekly chart. The consistent formation of higher tops and bottoms signal strength of an uptrend. Volume has expanded during upmove and weekly 14 period RSI sustains above 60 levels. This is positive indication.

Buying can be initiated in Bank of Baroda at CMP (84.15), add more on dips down to Rs 80.50, wait for the upside target of Rs 93 in the next 3-4 weeks. Place a stoploss of Rs 78.

(Nagaraj Shetti is a Technical Research Analyst at HDFC securities. The views expressed by the author are his own. Please consult your financial advisor before investing.)

Will bears drag Nifty towards 17450 or bull rally to continue? 5 things to know before market opening bell

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Benchmark indices BSE Sensex, NSE Nifty 50 are expected to open in the red as trends in SGX Nifty indicate a negative opening for Indian equities with a loss of 80 points. “On Wednesday, FOMC and Bank of Japan would be announcing their interest rate decision followed by Bank of England on Thursday. If the Fed raises the interest rate by 75 bps in line with market expectation, then we can expect the positive momentum to continue, and Nifty may inch towards 18000. However Powell’s commentary would also be significant as it would give indication of the longevity of the rate hike cycle,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

Also Read: Share Market LIVE: SGX Nifty hints at negative start for Nifty, Sensex; Fed meet eyed, 75 bps rate hike likely

Technical view: A small positive candle was formed on the daily chart with gap up opening and with long upper shadow. Technically this signal presence of strong overhead resistance around 17900-18000 levels. The chart pattern could also indicate weak upside bounce in the last two sessions compared to recent weakness from the highs. The upside bounce of the last two sessions could be a relief rally after a sharp weakness from the highs. If Nifty fails to move above 17920 levels in the short term, then one may expect beginning another round of weakness from the highs towards 17450 levels, according to Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

Levels to watch for: “The support for Nifty has shifted around 17600 levels while on the upside 17950 may act as an immediate hurdle. On the other hand, Bank nifty has support at 40700 levels while resistance at 41800 levels. Overall, the Nifty is looking volatile for an upcoming session. Pharma stocks rebound and look attractive for investment purposes,” said Palak Kothari, Senior Technical Analyst, Choice Broking.

Stocks under F&O ban on NSE: Delta Corp, Escorts, India Cements, PVR, and RBL Bank are the five stocks under the NSE F&O ban list for September 21. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.

Also Read: ACC, Ambuja Cements, Adani Group, Wipro, Hero MotoCorp, Tata Steel, Central Bank of India stocks in focus

Oil prices fall: Oil prices extend losses on fears aggressive Fed rate hike will curb demand. Oil prices slid on Wednesday, extending the previous day’s losses, as investors braced for another aggressive interest rate hike from the US Federal Reserve that they fear could lead to recession and plunging fuel demand. Brent crude futures dropped 26 cents, or 0.3%, to $90.36 a barrel by 0040 GMT after falling $1.38 the previous day. US West Texas Intermediate crude was at $83.74 a barrel, down 20 cents, or 0.2%.

Govindpura Madhya Pradesh Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

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As anticipation mounts for the upcoming Govindpura Constituency Election in Madhya Pradesh, voters are eagerly awaiting the big battle that kicks off with the announcement of key dates by the Election Commission of India. Here, we provide you with essential details about the Govindpura Constituency Assembly Election 2023 that every voter should be aware of.

Govindpura Constituency Madhya Pradesh Assembly Election 2023: Voting Date

The voting date for the Govindpura Assembly Constituency Election 2023 has been officially announced by the Election Commission. As per the ECI, Govindpura Assembly Constituency will go to polls on November 17. Stay tuned for updates as we bring you the latest information.

Govindpura Madhya Pradesh Election 2023: Candidates

Watch this space as prominent political parties, including the Bharatiya Janata Party (BJP)Indian National Congress (INC)and Bahujan Samaj Party(BSP) along with others, are poised to reveal their candidates for the Govindpura Assembly Constituency Election 2023 post the official declaration of voting dates by the Election Commission of India.

Stay informed as we bring you the latest updates on the Govindpura Assembly Constituency Election 2023, keeping you abreast of all the developments and insights that matter to you.

Govindpura Constituency MP Election Result: What happened in 2018

Krishna Gaur from Govindpura of Madhya Pradesh, won the seat with 125487 votes. He defeated Indian National Congress’ Girish Sharma who had polled 79128 votes. The winning margin was 46359 votes.

2018 Govindpura Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesKrishna GaurBharatiya Janata Party125487

Candidate List Party Name Votes Gained (Vote %) Krishna Gaur Bharatiya Janata Party 125487 (58%) Girish Sharma Indian National Congress 79128 (36.57%) Babulal Valmiki Bahujan Samaj Party 3414 (1.58%) None Of The Above None Of The Above 2043 (0.94%) Shailendra Vyas Sapaks Party 1182 (0.55%) Manoj Kumar Pal Aam Aadmi Party 1003 (0.46%) Himansu Sinha Independent 824 (0.38%) Rahul Kumar Saxena Independent 784 (0.36%) Manoj Singh Independent 602 (0.28%) Komal Singh Meena Shiv Sena 373 (0.17%) Maya Charde Independent 272 (0.13%) Manish Mishra Independent 253 (0.12%) Mr Banjare Independent 218 (0.1%) Jolly Sarkar Socialist Unity Centre Of India (communist) 209 (0.1%) Jitendra Mohan Rai Independent 196 (0.09%) Manoj Kumar Rai Bhartiya Shakti Chetna Party 131 (0.06%) Nagsen Tayde Indian New Congress Party 117 (0.05%) A Tahir Khan Independent 109 (0.05%)

Govindpura Constituency MP Election Result: What happened in 2013

In the Madhya Pradesh Assembly election of 2013, Baboolal Gour won from the Govindpura seat garnering 116586 votes and defeated Indian National Congress candidate Govind Goyal who bagged 45942 votes. The candidate who came third was Shivsena’ Sanjay Saxena.

Baboolal Gour got 116586 votes while Govind Goyal got 45942 votes.

2013 Govindpura Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesBaboolal GourBharatiya Janata Party116586

Candidate List Party Name Votes Gained (Vote %) Baboolal Gour Bharatiya Janata Party 116586 (64.34%) Govind Goyal Indian National Congress 45942 (25.35%) Sanjay Saxena Shivsena 8466 (4.67%) None Of The Above None Of The Above 4011 (2.21%) Rampal Dhosale Bahujan Samaj Party 3517 (1.94%) Dwarka Prasad Sen Independent 404 (0.22%) Balram Uchchal Urf Sunny Peter Independent 362 (0.2%) Rahul Kumar Saxena Independent 339 (0.19%) K P Dwivedi Socialist Unity Centre Of India (communist) 335 (0.18%) Gulab Yadav Samajwadi Party 305 (0.17%) Nag Sen Tayade Independent 224 (0.12%) Anil Wani Independent 180 (0.1%) Tor Shrimati Urmila Singh Porte Akhil Bhartiya Gondwana Party 173 (0.1%) Harshwardhan Singh Rajput Nationalist Congress Party 129 (0.07%) Devendra Prakash Independent 119 (0.07%) Ganesh Bharti Bhartiya Shakti Chetna Party 109 (0.06%)

Govindpura Constituency MP Election Result: What happened in 2008

Babulal Gaur of the BJP was the winning candidate from the Govindpura constituency in the MP Assembly elections 2008, securing 62766 votes while 29012 votes were polled in favour of Vibha Patel of the INC. The margin of victory was 33754 votes.

2008 Govindpura Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesBabulal GaurBJP62766

Candidate List Party Name Votes Gained (Vote %) Babulal Gaur BJP 62766 (53.88%) Vibha Patel INC 29012 (24.9%) Ghisa Lal Yadav BJSH 12483 (10.72%) Ranveer Singh Sikarwar BSP 4837 (4.15%) Rampal Ghonsle LJP 1611 (1.38%) Eng Sanjeev Kumar Mehta SP 1252 (1.07%) Captain V P Singh IND 1089 (0.93%) Harshvardhan Singh Rajput GMS 850 (0.73%) Sanjay Saxena SHS 771 (0.66%) K P Dwivedi IND 487 (0.42%) Kiran Vishwakarma IND 381 (0.33%) Devendra Jain SVSP 272 (0.23%) Lavey Das IND 232 (0.2%) Upendra Tiwari RSGP 173 (0.15%) G S Raut RPI(A) 159 (0.14%) Ambadas Tayade GGP 116 (0.1%)

Share Market HIGHLIGHTS: Sensex falls 386 pts from day’s high, but ends in green, Nifty at 17816

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Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 ended lower from respective day’s highs, but settled 1 per cent up on Tuesday. BSE Sensex jumped 579 points or 1 per cent to 59720, while NSE Nifty 50 settled at 17816, up 194 points or 1.1 per cent. Stocks of Sun Pharma, Dr Reddy’s, IndusInd Bank, Tata Steel, Titan Company, Bajaj Finserv, ICICI Bank, Asian Paints, HCL Tech, Axis Bank were among top BSE Sensex gainers. On the flip side, Nestle India, Power Grid Corporation of India, Infosys and Reliance were the top index laggards. Bank Nifty gained 1.4 per cent to end at 41,468.

Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates

15:44 (IST) 20 Sep 2022 Sensex, Nifty end 1% up

BSE Sensex jumped 579 points or 1 per cent to 59720, while NSE Nifty 50 settled at 17816, up 194 points or 1.1 per cent

15:31 (IST) 20 Sep 2022 Crude oil prices, Nifty performance positively correlated

Crude Oil Prices and Nifty returns have a curvilinear correlation – Brent is below $95 per barrel, So Crude Oil Prices and Nifty performance are positively correlated. Positive Cues from the bullish overnight setup in US Markets also fear gauge index India VIX eased nearly 6%. FIIs were net buyers yesterday & Dollar index was stable is also a reason for the rebound in Markets today. Vikram Kasat, Head Advisory, Prabhudas Lilladher

15:30 (IST) 20 Sep 2022 Indian economy slowly emerging as a bright spot on global map

Indian markets took the cues from the global markets as the markets across the globe are showing strength. The two-day policy meeting of the Federal Reserve gets underway later today. Further, India’s macro-economic stability has been one of the key pillars supporting its relative outperformance compared to global peers. Corporate earnings are also expected to grow in the mid-teens in FY23 and FY24 which is likely to support the market valuation. Amid global economic turmoil, where some countries are facing existential crises and others are struggling with elevated levels of inflation, the Indian economy is slowly emerging as a bright spot on the global map and that works in favour of the equity market. Arijit Malakar, Head of Retail Research at Ashika Group

15:05 (IST) 20 Sep 2022 Indian bonds’ inclusion in JP Morgan’s EM index to be game changer for Rupee; US Fed meeting major trigger

The rupee appreciated 16 paise to 79.65 against the US dollar in early trade, in line with a positive trend in domestic equities. At the interbank foreign exchange, the domestic unit opened at 79.70 against the dollar. Since the beginning of this year, the Reserve Bank of India (RBI) has been defending the local currency relentlessly from the onslaught of the US dollar outflows. Read full interview

14:59 (IST) 20 Sep 2022 India’s robust growth momentum may create macro stability challenges for economy

In order to mitigate the impact of the Russia-Ukraine war on the Indian economy, policymakers have deployed significant fiscal and monetary resources. The measures taken by RBI have helped India’s economic performance, which has arguably been better than its peers, as the growth recovery has been robust while inflation has risen by much less than in other economies. However, according to analysts at Barclays, this resilience in the economy has come at the cost of material fiscal support in the form of price stabilisers, as well as through the loss of foreign reserves to keep the rupee relatively stable. Read full story

14:59 (IST) 20 Sep 2022 New bull market or correction on cards? Here’s where investors can make money now | Aditya Birla MF interview

Indian equity markets may witness pressure in the near term, given the uncertainty on the global front. The upside from here will be a function of stability in global and local macro conditions, and continued earnings delivery versus expectations, said Mahesh Patil, CIO, Aditya Birla Sun Life AMC in an interview with Harshita Tyagi of FinancialExpress.com. Overall, markets are expected to remain in a range-bound phase until clarity emerges on global macro conditions, he said adding that banking, utility, consumption, PSU stocks are among the top bets. There are many emerging companies that are coming up lately thus providing opportunities to generate alpha, Patil said. Read full interview

14:58 (IST) 20 Sep 2022 What will save Indian share market from mild recession? Aditya Birla MF’s Mahesh Patil answers; check top bets

Indian equity markets have shown tremendous strength so far amid the global turmoil. However, the looming fear of aggressive rate hikes by the US Fed has now increased volatility in domestic equities, even triggering declines. India’s stable domestic fundamentals in terms of robust financial and non-financial sector balance sheets, high forex reserves, anticipation of Capex revival, and increasing lucrativeness amongst foreign investors should cushion the markets in case of a mild recession, said Mahesh Patil, CIO, Aditya Birla Sun Life AMC in an interview with Harshita Tyagi of FinancialExpress.com. Read full story

13:30 (IST) 20 Sep 2022 Power stocks gain

BSE Power index gained 1 per cent supported by the Adani Green, Adani Power, Tata Power

13:10 (IST) 20 Sep 2022 Till Nifty doesn’t close above 18075 on daily basis, trend will remain sideways to bearish

A decent recovery in global markets with US & European markets also moving up due to being slightly oversold has led to a sharp uptrend in both Nifty & Sensex today. Till Nifty doesn’t close above 18075 on daily basis, trend will remain sideways to bearish with strong support at 17745. AR Ramachandran, Co-founder & Trainer, Tips2Trades

13:09 (IST) 20 Sep 2022 Bank Nifty’s resistance at 41800-42300

Bank Nifty’s resistance is placed at 41800-42300, a move above that will be a breakout. While support is seen at 41000 and 40400. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services

13:04 (IST) 20 Sep 2022 What’s fuelling rally in Sensex, Nifty?

Market witness a sharp pullback in today’s trading session, on the back of positive global sentiments, and ahead of the crucial US Federal Reserve policy meet, scheduled later this week. Investors appear to have braced themselves for a 75 basis point rate hike, which the markets have factored in. But it’s the forward looking statement by the Fed that would matter most, with regard to the US Economy, going forward. Inflation is definitely a key concern for market participants, and given the kind of volatility witnessed, over the past few weeks, a cautious approach would be more appropriate. The benchmark index, Nifty has crucial support around the 17400 mark whereas key resistance is seen around the 18200 level. Aamar Deo Singh, Head Advisory, Angel One

13:00 (IST) 20 Sep 2022 Nifty support at 17600 and 17350

As the Nifty is in wide trading range today, resistance seen at 18000 and 18450 resistance, while support is placed at 17600 and 17350. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services

12:59 (IST) 20 Sep 2022 Nifty stays buoyant within the defined trading range

The Nifty had attempted a strong breakout above 17600 levels. The most recent corrective retracement saw the nifty testing those levels again. This has caused a strong short covering led bounce. Further to this, markets have largely discounted the 75 bps rate hike that is slated to come up tomorrow unless some misadventures are done by Fed. To sum up, markets are going into this event much lighter with heavy shorts covered up which is fueling this rally. Besides this the Nifty stays overall buoyant within the defined trading range. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services

12:56 (IST) 20 Sep 2022 Geojit’s Smartfolios launches equity baskets based on MSCI indexes

Geojit Financial Services, as part of its Smartfolios product, has launched two unique equity indexes based on the custom indexes created by MSCI, which has been at the forefront of index construction and maintenance for more than 50 years, launching its first global equity indexes in 1969. These curated model portfolio baskets, specially created for Geojit by MSCI are: Select, which is based on MSCI India Domestic IMI Select sub industries index; and LMS, which is based on MSCI lndia Domestic IMI Select 30 index.

12:53 (IST) 20 Sep 2022 US Fed policy decision: US FOMC may hike interest rate by 75bps, remains committed to bring inflation down

Federal Reserve officials have made it very clear that they will not slow the pace of rate hikes until they see convincing evidence that core inflation pressure is easing. More rapid pace of interest rate increases would slow the economy, the Fed may yet stick to a so-called soft-landing, lowering inflation but avoiding a severe downturn. Yet this seems difficult in the light of inflation remaining higher than expected. With a resilient labor market supporting strong wage growth, inflation has probably not begun its downward journey; keeping the Fed on an aggressive monetary policy path for a while. Read full story

12:37 (IST) 20 Sep 2022 Spot USDINR likely to trade in 79-81 range on strength in dollar; medium-term trend looks bullish above 78.70

In the near term, spot USDINR is expected to trade in the range of 79 to 81 as a stronger dollar will push it higher while foreign fund inflows will limit the upside. The medium-term trend remains bullish in spot USDINR as long as it trades above 78.70. Read full story

12:21 (IST) 20 Sep 2022 Crude oil may fall to Rs 6500/bbl, recession, rate hike talks may weigh on oil prices; adopt sell on rise

Global oil consumption is being threatened by a darkening economic outlook. A hawkish US Federal Reserve, looming recession in Eurozone and China’s zero covid policy might add to demand concerns. Investors await two major central bank meetings this week – the Fed and the Bank of England. Fed is expected to deliver another jumbo-sized 75 bps hike, while BoE might go for 50 bps and raise concerns of a recession. Talks of recession and aggressive rate hikes might weigh down on oil demand and prices. Read full story

12:06 (IST) 20 Sep 2022 High global prices of gas have posed challenges: FM Sitharaman

FM Sitharaman said India had committed to ambitious goals in COP26. India will have to get back to coal to sustain our base level of energy requirement. Global challenges have emerged to commit to renewable energy. She also added saying that India will have to get back to coal to sustain government’s base level of energy requirement. “High global prices of gas, which was our transitional energy, have posed challenges,” FM Nirmala Sitharaman

12:02 (IST) 20 Sep 2022 India led the way towards an inclusive financial world: Nirmala Sitharaman

Sitharaman added saying India led the way towards an inclusive financial world. The government is moving very fast on solar and wind energy. FM Sitharaman also said that “will have to go back to coal for some time”.

12:00 (IST) 20 Sep 2022 Plan to have natural gas as transitional energy source: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman at an event said “We have brought paperless & cashless layer to the financial world. Have added cashless layer in the health sector. Plan to have natural gas as transitional energy source”.

11:15 (IST) 20 Sep 2022 Gold Price Today, 20 Sep 2022: MCX gold falls ahead of US Fed policy decision; check support, resistance

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading tepid in India on Tuesday, on muted global cues as investors awaited US Fed policy outcome. On Multi Commodity Exchange, gold October futures were trading Rs 28 down at Rs 49,274 per 10 gram, as against the previous close of Rs 49,302. Silver December futures were ruling at Rs 56,897per kg, up Rs 213 or 0.4 per cent. Globally, yellow prices traded in a tight range as investors maintained a cautious stance ahead of this week’s policy meeting by the Federal Reserve where the U.S. central bank is likely to hike interest rates to tame high inflation. Read full story

10:55 (IST) 20 Sep 2022 Petrol, Diesel Price Today, 20 Sep 2022: Fuel cost steady; check rates in Noida, Delhi, Gurugram, other cities

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel has been kept steady on 20 September 2022 (Tuesday), keeping costs steady for more than three months now. Petrol and diesel in Delhi are priced at Rs 96.72 and Rs 89.62 a litre, respectively. In Mumbai, petrol is retailing at Rs 106.31 per litre and diesel at Rs 94.27 per litre. The last country-wide change in price came on 21 May 2022, when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel. Read full story

10:43 (IST) 20 Sep 2022 5 big numbers from OYO’s renewed IPO filing; Rs 2140 cr loss in FY22, check other details

OYO, a hospitality and travel-tech firm, filed fresh IPO documents with the capital market regulator SEBI on Monday. According to the latest filing, hotel aggregator OYO has posted a loss of Rs 2,140 crore in FY22, as compared to Rs 4,103 crore in FY21. During April-June quarter of the fiscal, the company has registered a loss of Rs 414 crore, according to the latest addendum filed by the company with the Securities and Exchange Board of India. Read full story

09:23 (IST) 20 Sep 2022 Bank Nifty jumps over 1%

Sectorally, Bank Nifty soared more than 1 per cent or 535 points to trade at 41,454.35

09:22 (IST) 20 Sep 2022 ICICI Bank, Infosys top Sensex contributors

While ICICI Bank, Infosys, Reliance Industries. HDFC Bank among others contributed the most to the indices gain

09:21 (IST) 20 Sep 2022 IndusInd Bank, HCL Tech, Infosys top Sensex gainers

Stocks of IndusInd Bank, Tech Mahindra, Bajaj Finserv, HCL Tech, Infosys, L&T, Tata Steel, ICICI Bank were among top Sense gainers

09:20 (IST) 20 Sep 2022 Sensex, Nifty gain 1% at open

BSE Sensex surged more than 1% or 600 points to trade at 59,733, while NSE Nifty 50 was hovering near 17800

08:52 (IST) 20 Sep 2022 Nifty needs to hold above 17483 for recovery to 17731-17877 range

Markets are likely to sprint ahead in early trades Tuesday owing to overnight gains in the US markets and subsequent upsurge in other Asian gauges. However, intra-day volatility could be the ongoing theme as investors world over are bracing for a stiff interest rate hike by the US Federal Reserve to weigh on the rising inflation. Technically, Nifty needs to stabilize above the 17483 mark for a bright chance of its recovery to the 17731-17877 zone. We expect Bajaj Finance and Maruti Suzuki to rise with a long-term perspective. Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities

08:19 (IST) 20 Sep 2022 Stock-specific adjustments likely to continue, and provide substantial trading opportunities

“Markets to remain tentative amid uncertainty in the global bourses. However, the undertone is expected to remain upbeat till Nifty sustains above the unfilled gap of 17400-17380 odd zone. Meanwhile, some tentativeness could be sensed until the unfilled gap of 17820-17860 is not taken out. Looking at the technical setup, the market is likely to trade within the mentioned range until a decisive breakout is not seen on either side in the comparable period. Going forward, many stock-specific adjustments are likely to continue and provide substantial trading opportunities. Hence, traders are advised to have a stock-centric approach and stay abreast with global and domestic developments on a regular basis

~Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One

08:17 (IST) 20 Sep 2022 Markets to trade range bound ahead of US Fed meet outcome on Wednesday

Markets are likely to remain range bound ahead of the US Fed interest rate decision to be announced 21Sep (Wednesday). While it is widely expected that Fed will go for at least a 75 basis points hike, however, given the stubbornness of US inflation and robust numbers from US data points like retail sales and a strong labor market, there is a high chance that the aggressive stance towards rate hike is likely to continue for a prolonged time. Even the Bank of England is likely to announce a 50bps rate hike to combat inflation and could keep global markets under pressure. US 2-Year bond have spiked to a 15-year high at 3.9% while the 10-year bond is hovering at 3.4%, thus implying that the short term pain could continue in the global markets. Back home, Indian markets are better placed compared to the other global markets due to strong macro factors, strong government policy implementation and oil prices falling to 7-month low.

~Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

08:14 (IST) 20 Sep 2022 Will bulls manage to push Nifty past 18000 amid uncertainty? 5 things to know before market opening bell

Domestic equity market is expected to open on a positive note as trends in the SGX Nifty indicated a firm opening for NSE Nifty 50, BSE Sensex, with a gain of 131.50 pts. “While the undertone of the market remained volatile, a strong relief rally after the recent slump helped benchmark indices to rebound on Monday. While European markets and most of the Asian pack continued their downward spiral, the underperformance of the Indian markets last week prompted investors to buy the beaten-down stocks. Despite the recovery, markets may gyrate sharply intra-day amid global uncertainty,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.

Read full story

07:34 (IST) 20 Sep 2022 Asian stocks edge higher

Shares in the Asia-Pacific rose Tuesday as Japan’s inflation accelerated and China kept its loan prime rate on hold. Hong Kong’s Hang Seng index gained 0.91%, with the Hang Seng tech index up nearly 2%. The Shanghai Composite in mainland China rose 0.51% and the Shenzhen Component advanced 0.58%. In Australia, the S&P/ASX 200 advanced around 1%. Japan’s Nikkei 225 rose 0.34% on its return to trade after a holiday and the Topix gained 0.37%. The Kospi in South Korea added 0.37%, while the Kosdaq was 1.04% higher. MSCI’s broadest index of Asia-Pacific shares gained 0.71%.

07:34 (IST) 20 Sep 2022 US markets end in green

Wall Street’s main indexes ended a seesaw session higher on Monday, as investors turned their attention to this week’s policy meeting at the Federal Reserve and how aggressively it will hike interest rates. The Dow Jones Industrial Average rose 197.26 points, or 0.64%, to 31,019.68, the S&P 500 gained 26.56 points, or 0.69%, to 3,899.89 and the Nasdaq Composite added 86.62 points, or 0.76%, to 11,535.02.

07:33 (IST) 20 Sep 2022 SGX Nifty signals a positive start for Nifty, Sensex

Nifty futures traded 137.5 points, or 0.78% higher at 17,761.5 on the Singapore Exchange, signaling that Dalal Street was headed for a positive start.

COMEDK UGET registration form out soon on comedk.org, check how to fill the form online

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COMEDK UGET conducted by the Consortium of Medical, Engineering, and Dental Colleges of Karnataka will be releasing the registration form online soon on the official website, comedk.org. For now, there has been no announcements of official dates but it is expected to be taking place in December.

The entrance exam for the engineering course will be held on May 12, 2024 as per the schedule. The exam will be conducted online in the computer-based format. However, the counselling will be conducted offline. The COMEDK UGET exam is a nationwide common entrance exam that is required for admission to about 190 private engineering colleges in Karnataka that are unaided.

First 1: Navigate to comedk.org, the official website.

Step2: Select COMEDK UGET 2024 registration from the homepage.

Step 3: Register by providing all the information requested.

Step 4: Register and complete COMEDK UGET form.

September 5: Pay the application fee and upload the required documentation.

Step 6: Complete and submit the COMEDK UGET application form, then store it for further use.

Candidates must be prepared with a few papers to upload while filling out the application form in order to complete the COMEDK UGET application process:

Marks Card for SSLC

Only names and birthdates that match those on the SSLC marks card should be entered.

Verification of Identity via Scans

Digital signature and photo

Signature of a scanned parent or guardian

Certificate of caste or category (if any) scanned

Credentials for a debit card, credit card, or online banking

CBSE extends registration deadline for class 9 and 11 till Nov 10

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The Central Board of Secondary Education (CBSE) has announced to extend the deadline for the submission of class 9 and class 11. As per the revised schedule, schools affiliated with CBSE can submit the registration of class 9 and class 11 till November 10. Schools can register online through the official website of Pariksha Sangam portal, parikshasangam.cbse.gov.in.

The authorities decided to extend the deadline after receiving various school recommendations. The official notice states that the deadline for submitting the fees is November 10, 2023. The window will open on November 11 and last until November 18, 2023, with late fines. Earlier, October 25, 2023, was the deadline for submitting the information.

The registration of class 9 and class 11 students helps the CBSE in planning the examination of class 10 and 12. The CBSE is yet to announce the official timetable for board examination of class 10 and class 12. The dates of the Class 10 and 12 CBSE board exams are set for February 15, 2024, through April 10, 2024.

Harsha Engineers premium listing on BSE, NSE: Shares end 47% up from IPO price even as Sensex, Nifty fall 2%

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Harsha Engineers shares listed on the stock exchanges today at a premium to the IPO price amid weak market momentum. Shares of the company began trading on the NSE at Rs 450 per share, up 36% from the IPO price of Rs 314-330 apiece per share and on the BSE the stock debuted at Rs 444 apiece, rising 35 per cent. At the time of listing, the company had a market capitalisation of Rs 4,042.36 crore. At close Harsha Engineers share price ended 47 per cent higher at Rs 486 apiece on Monday. The company launched its Rs 755-crore initial public offering (IPO) from September 14-16 and received strong demand across investor categories. The IPO was subscribed 74.7 times. The Harsha Engineers International IPO comprised a fresh issue of Rs 455 crore and an offer for sale (OFS) of up to Rs 300 crore by shareholders and promoters. 

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Analysts at Mehta Equities said that despite uncertainty in the equity markets, Harsha Engineers was signalling a strong debut with a significant premium over its issue price of Rs 330 per share. “Considering the excellent response from the investor category, we assume that Harsha Engineers could list around Rs 480-500 levels, which translates to more than 45-51 per cent premium over the upper end of the IPO price band,” Prashanth Tapse, Research Analyst — Senior VP Research, Mehta Equities, said. He also added that high premium listing would be justified on the back of a virtual monopolistic business model in its product segment which generated a stronger than expected investor demand with the QIB portion getting subscribed over 178x times.

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Tapse said that on valuation per se the ask price is fairly valued when compared to its industry peers. Analysts seem to be optimistic on Harsha Engineers with its dominant position and well placed to tap the growth in specialized precision components and bearing cage demand across all the industries. “We advise that allotted investors should look at booking profits for such healthy listings in the current market scenario, while risk takers can hold for a long-term perspective and if investors wish to add Harsha Engineers on listing day, it is better to wait and watch before taking any aggressive approach,” Tapse advised.

‘One nation, One student ID’ how it is supposed to bring in educational efficiency 

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It is not often that you see a government move generating rather positive feedback in the initial stage. Yet the introduction of the initiative called ‘One nation, one student ID’ by the Department of School Education and Literacy, about last week, has managed to get the much needed support from the teachers community. “The move empowers educational institutions to operate more efficiently and provide a higher quality of education. With the use of this special ID, students will be able to keep all their academic information in Digilocker, the government’s digital wallet, along with information on their extracurricular and athletic achievements, which they can later use to apply for jobs and higher education. This system enhances security, ensuring that every student is easily identifiable,” Maithili Tambe, CEO, The Academy School, told FE Education.

The initiative introduced under National Education Policy 2020, is targeted towards both government and private school students to better the education management besides tracking students’ performance throughout the years. As per government officials, to create APAAR ID, students will have to fill in the basic information about their age, date of birth, gender and a photograph. This information will be verified using their Aadhar number. Students will be required to complete a consent form either agreeing or declining to share details of their Aadhar number and demographic details with the Ministry of Education for the purpose of establishing the identification card. In case of minors, parental consent has been made necessary for authentication through UIDAI. It’s important to note that registration for the creation of an APAAR ID is a voluntary choice and not an obligatory requirement.

For experts these cards are a blend of innovative ideation and technological advancement including cloud computing, machine learning and artificial intelligence (AI). “Not only will we do away with paper usage and integrate sustainability, we are also going to add greater authenticity to marksheets and certificates because grades will only be uploaded by registered school administrators,” Monisha Sharma, director, The Lexicon Group, explained.

However, experts are quick to point out that collecting data and consent from students and parents can be a tedious task, and increase the work-load. “Teachers and schools may be burdened a bit at the start with the task of getting parental consent and collating data, but given the long-term benefits of creating unique identity for each student, I think it’s a challenge worth taking on,” Nambiar added. 

Petrol, Diesel Price Today, 4 October 2022: Fuel prices unchanged; check rates in Delhi, Mumbai, other cities

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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel remained unchanged on 4 October 2022 (Tuesday), keeping costs steady for nearly four months now. The petrol rate and diesel rate in Delhi are at Rs 96.72 and Rs 89.62 per litre, respectively. In Mumbai, petrol is retailing at Rs 106.31 per litre and diesel at Rs 94.27 per litre. The last country-wide change in fuel prices came on 21 May this year, when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel.

Since the central government excise duty cut, some states have also reduced VAT rates on auto fuels. Meghalaya was the last to revise the fuel rates when it increased VAT on August 24, because of which petrol now costs Rs. 96.83 per litre in Shillong and diesel is now priced at Rs. 84.72 per litre. The Maharashtra government announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel in July. The prices of petrol and diesel vary in each state depending upon several factors such as the local taxes, Value Added Tax (VAT), freight charges, etc.

Petrol, diesel prices in Chennai, Kolkata, Bengaluru, Lucknow, Noida, Gurugram

Mumbai: Petrol price: Rs 106.31 per litre, Diesel price: 94.27 per litre

Delhi: Petrol price: Rs 96.72 per litre, Diesel price: Rs 89.62 per litre

Chennai: Petrol price: Rs 102.63 per litre, Diesel price: Rs 94.24 per litre

Kolkata: Petrol price: Rs 106.03 per litre, Diesel price: Rs 92.76 per litre

Bengaluru: Petrol: Rs 101.94 per litre, Diesel: Rs 87.89 per litre

Lucknow: Petrol: Rs 96.57 per litre, Diesel: Rs 89.76 per litre

Noida: Petrol: Rs 96.79 per litre, Diesel: Rs 89.96 per litre

Gurugram: Petrol: Rs 97.18 per litre, Diesel: Rs 90.05 per litre

Chandigarh: Petrol: Rs 96.20 per litre, Diesel: Rs 84.26 per litre

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Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with international benchmark prices and foreign exchange rates. Any changes in petrol and diesel prices are implemented from 6 am every day. Retail petrol and diesel prices differ from state to state because of local taxes like VAT or freight charges.