Sensex jumps 476 pts to end at 58,723; Nifty gains139 pts to 17,519

Amid strong buying at Dalal Street, domestic equity benchmarks ended near the day's high after a strong session on Wednesday, September 15, 2021. The S&P BSE Sensex surged 476.11 points or 0.82 per cent to end at 58,723.20. The Nifty 50 index advanced 139.45 points or 0.80 per cent to close at 17,519.45. The Nifty Bank index closed 239.20 points or 0.65 per cent higher at 36,852.25.

The broader markets too climbed higher at the BSE with S&P BSE Midcap rising 0.65 per cent and S&P BSE SmallCap added 0.86 per cent. Both the indexes hit their respective new record levels during the session.

Buyers outnumbered sellers. On the BSE, 2060 shares rose and 1240 shares fell. On the Nifty 50 index at the NSE, 35 shares rose and 15 shares fell. The top five gainers on Nifty were NTPC (up 7.46 per cent), Bharti Airtel (up 4.80 per cent), Coal India (up 3.98 per cent), ONGC (3.87 per cent) and Titan (up 3.03 per cent). The top five losers were Tata Consumer (down 0.95 per cent), Nestle India (down 0.55 per cent), Grasim (down 0.49 per cent), BPCL (down 0.38 per cent) and Asian Paints (down 0.37 per cent).

The initial public offering (IPO) of the auto component manufacturer Sansera Engineering was subscribed 1.02 times by 5:00 pm on the second day of subscription. The public issue will be available for subscription till Thursday, September 16, 2021. The Rs 1,282.98 crore public issue is a 100 per cent Offer for Sale (OFS) of 17,244,328 equity shares by its existing shareholders and promoters. The company has fixed the price band of the IPO at Rs 734-744 per share. Retail investors looking forward to subscribing to Sansera Engineering's IPO can place bids in the lot of 20 equity shares and multiples thereafter.

COVID-19 Update

Total COVID-19 confirmed cases worldwide were at 22,58,23,928 with 46,49,577 deaths. India reported 3,51,087 active cases of COVID-19 infection and 4,43,497 deaths while 3,25,22,171 patients have been discharged, data showed.

Economy

The Union Cabinet today approved the Production-linked Incentive (PLI) Scheme for Automobile and Drone Industries with a budgetary outlay of 26 thousand 58 crore rupees. It will herald a new age in higher technology, more efficient and green automotive manufacturing.

India's merchandise exports jumped 45.76 per cent to $33.28 billion in August 2021, led by petroleum products, gems and jewellery, engineering goods and cotton yarn. Merchandise imports rose 51.72 per cent to $47.09 billion against $31.03 billion in the corresponding month of 2020, according to data released on Tuesday. The trade deficit (merchandise) swelled to $13.81 billion, compared to $8.2 billion in August 2020.

US consumer prices rose 0.3 per cent in August, the smallest increase in seven months and a hopeful sign that inflation pressures may be cooling. The August gain fell from a 0.5 per cent rise in July and a 0.9 per cent surge in June, the Labour Department reported.