Share Market News Live: Sensex rises 200 points, Nifty above 11,530; Infosys, HCL Tech, Wipro top performers

India Stock Market News Updates Today: HCL Tech, followed by Tech Mahindra, HDFC duo, Reliance Industries, TCS, SBI and IndusInd Bank wer among the top gainers today. On the other hand, HUL, Asian Paints, Maruti, Bajaj Auto and Nestle India were among the laggards

Sensex, Nifty LIVE Updates on September 14: Benchmark indices Sensex and Nifty turned bullish on Monday, tracking positive cues from global markets, after closing flat in the previous session. Sensex gained 282 points to 39,137 and Nifty gained 78 points to 11,542. On Friday, Sensex rose 14 points to 38,854 and Nifty gained 15 points to 11,464.

Here's a look at market action today

1. 23 PM:Brent crude futures gains marginally

Brent crude futures, the global oil benchmark, rose 0.38 per cent to USD 39.98 per barrel. Oil price gained in a small way on Friday as gains were kept under check as investors expected global glut to last long if demand continues to weaken.

1. 16 PM: Top gainers and losers

HCL Tech, followed by Tech Mahindra, HDFC duo, Reliance Industries, TCS, SBI and IndusInd Bank wer among the top gainers today. On the other hand, HUL, Asian Paints, Maruti, Bajaj Auto and Nestle India were among the laggards.

1.05 PM: Real estate sector update

Speaking on outlook for real estate sector, Yash Miglani, MD, Migsun Group said, "The past years have observed the trend of real estate sales picking up during the festive season, but the current economic environment has made buyers contemplate more than usual towards making a big spend. Developers on the other hand have become proactive to revive the positive sentiment and interest of genuine fence-sitters and investors via planned marketing strategies. Flexible payment plans, discounts and combined offers, relaxation in terms of payment for stamp duty are few steps taken by them to retain the interested end-users and investors."

12. 47 PM; Markets bouyed on vaccine news

Asian markets were trading higher today following news of potential COVID-19 vaccine as AstraZeneca resumed its phase-3 trial. Traders also awaited the outcome from the US central bank's two-day policy meeting, scheduled on September 15-16.

Meanwhile, a COVID-19 vaccine is likely to be available by early next year and the government is considering its emergency authorisation for high-risk people, Union Minister Harsh Vardhan Sunday said, asserting he will take the first shot to address any trust deficit over its safety.

According to a Health Ministry statement, he said while no date has been fixed for the launch of a vaccine, it may be ready by the first quarter of 2021, and made available first to those who need it the most, irrespective of their paying capacity.

12. 38 PM: RIL share hits all-time high

Reliance Industries Limited (RIL) share hit all-time high of Rs 2,360 amid reports that US private equity firm Carlyle is likely to buy stake in Reliance Retail for up to $2 billion. Share price of RIL gained 1.77% to Rs 2,360 against previous close of Rs 2,318 on BSE. The large cap stock has gained 12.21% in last six days.

The large cap stock hit a fresh 52-week low of Rs 867 on March 23, 2020. Since then, the stock has gained 172.20% on BSE. Total 2.49 lakh shares changed hands on BSE amounting to turnover of Rs 58.39  crore.

RIL share hits all-time high, market cap crosses Rs 15 lakh crore

12. 24 PM: Rupee rises to 73.32 per dollar

Indan rupee, the currency benchmark strengthened by 21 paise to 73.32 per dollar in  Monday's opening deals, supported by weak US currency and positive domestic equities.

The domestic unit opened at 73.40 per dollar and gained further ground to touch 73.32 against the US dollar, registering a rise of 21 paise over its previous close of 73.53 per dollar.

Rupee rises 21 paise to 73.32 amid weak dollar, positive equities

12. 18 PM:Stocks to watch today on September 14

IRCTC, YES Bank, Tata Motors,Reliance Industries among others are the top stocks to watch out for in Monday's trading session.

Stocks in news: RIL, YES Bank, IRCTC, Tata Motors and more

12.07 PM: Nifty outlook

On Nifty's technicals, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said," During the previous week, finally the brakes were applied on the recent euphoria on the back of geopolitical concerns with respect to the India - China clash at the border and to make it worse, US markets started correcting sharply after a strong gravity defying move in the last couple of months. All these factors triggered profit booking in our market and left us with some uncertainty at the end of the previous week.As far as levels are concerned, 11550-11650 are likely to act as immediate hurdles; whereas on the lower side, 11350-11200 would be seen as a key support zone."

On Nifty bank, he added," The banking index is clearly underperforming and is placed around the crucial junction. We are observing a cluster of support around 22200-22000"

11. 46 AM: Market outlook

On upcoming market outlook, Ajit Mishra, VP - Research, Religare Broking  said,"Among the major triggers, participants will first react to the IIP numbers next week, followed by the CPI and WPI inflation data in the coming sessions. Besides, further updates on disengagement between India and China at LAC would also remain on their radar. Meanwhile, markets will continue to take cues from the global indices and upcoming FOMC meet. Indications are in the favour of further consolidation in the Nifty index and the probable range could be 11,100-11,600 levels. We may see some recovery in the banking pack ahead but traders should limit their positions mainly to the sectors which are attracting consistent buying interest."

11. 30 AM: HCL Tech outlook

Commenting on HCL Technologies, Jyoti Roy - DVP- Equity Strategist, Angel Broking said ," . HCL Tech remains one of our top picks in the IT space given cheap valuations and we maintain our buy rating on the stock."

He added," HCL Tech has provided its mid quarter guidance wherein the company mentioned that they expect the Revenue and the Operating Margin for Q2FY2021 to be meaningfully better than the top end of the guidance that the company had provided in July 2020. The company in its release has highlighted that execution is strong during the quarter to date while deal momentum also remains strong led by Life Sciences & Healthcare, Telecom & Media and Financial Services verticals. The company expects revenue growth for the current quarter to exceed 3.5% quarter on quarter in constant currency, enabled by broad based momentum across all service lines, verticals and geographies while EBIT margin is expected to stay between 20.5% to 21.0% for the quarter. Deal pipeline also remains strong across service lines, verticals and geographies."

11. 21 AM: Gold prices

On the Multi-Commodity Exchange, gold traded a tad higher tracking international commodity markets. Gold October Futures gained Rs 61 at Rs 51,380, after hitting an intraday high of Rs 51,599 against the previous close of Rs 51,319 per 10 gm. MCX gold futures currently trade over Rs 4,811 lower than the lifetime high of Rs 56,191 per 10 gm, hit on August 7. On MCX, the yellow metal has risen 41.5% to life-time high since the beginning of the year.

Silver September Futures, gained by Rs 126 to Rs 68,050 per kg today after they touched an intraday high of Rs 68,500 per kg. Silver Futures hit a lifetime high of Rs 77,949 on August 7.

11. 13 AM: India IIP data

India IIP for the month of July contracted by 10.4% YoY as compared to a contraction of 15.7% in June while IIP for the first five months of FY2021 has contracted by 29.2% YoY

on India IIP for July'20,  Jyoti Roy - DVP- Equity Strategist, Angel Broking said,"The contraction for the month of July was largely along expected lines given that localized lockdowns had disrupted production and supply chains during the month of July. The mining and manufacturing sectors witnessed contraction of 13.0% and 11.1% YoY while electricity contracted by 2.5% YoY. However we expect IIP to improve sequentially from here on given pent up demand, inventory push prior to the festive season and further opening up of the economy under unlock 4.0. The recovery is reflected in high frequency data like Auto sales and PMI numbers for the month of August. Auto companies reported another month of strong sequential growth with Maruti Suzuki reporting a 17.1% yoy increase in August domestic sales as compared to a 1.1% growth in July while Hero Motocorp reported a 6.5% yoy growth in motorcycle sales."

11.04 AM: RIL outlook

Commenting on RIL's share price, Aamar Deo Singh - Head Advisory, Angel Broking said,"Reliance is on a roll, up by almost 56.74% this year, on the back of making the company debt free and billions of dollars pouring into its Telecom Venture JIO. And now Reliance Retail seems to have caught the fancy of marque investors, with the latest name of Carlyle Group, an American private equity company, doing the rounds which could buy stakes worth $2 Billion in Reliance Retail. The company bounced back sharply post hitting a low of Rs.864 on 23rd March, enriching its shareholders in the most spectacular way."

10. 44 AM: Crude oil outlook

O oil prices, Anuj Gupta , DVP- Commodities and Currencies Research, Angel Broking said," Oil prices extended the losses after top Crude exporter, Saudi Arabia, trimmed the Official Selling Price (OSP) to Asia for the month of October'20 considering the falling demand. OPEC & its allies are scheduled to meet on 17th September to review the current Oil market scenario. OPEC+ trimmed the production cuts down to 7.7 barrels per day since August considering the growing demand. However, surge in covid19 cases around the globe clouded the outlook for crude."

He added," Concerns over bleak global demand and a slower than expected economic recovery might push Crude prices lower. Geopolitical tension between the middle east countries may support the crude oil prices and short covering also may be seen in crude oil prices from the lower levels. So as of today we are recommending to buy in crude oil on a dip. Traders can go for buy in mcx crude oil at 2720 levels, with the stop loss of 2660, for the target of 2830 levels."

10. 31 AM: FII action

Foreign portfolio investors (FPIs) bought shares worth Rs 1,175.81 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 724.31 crore in the Indian equity market on 11 September, provisional data showed.

10. 14 AM: Global markets today

Equities in the US and Asia were also trading mixed as week as investors focussed on technology stocks that showed signs of profit booking.

In US, the Nasdaq Composite Index fell 66.05 points, or 0.6%, on continuing sell-off in tech stocks. The Dow Jones Industrial Average rose 131.06 points, or 0.5%; while the S&P 500 rose 1.78 points, or 0.1%.

10.09 AM: Gold outlook

Anuj Gupta, DVP-Commodities and Currencies Research, Angel Broking said, "Weak employment growth and increase in permanent job loss dented hopes of a paced economic recovery. Moreover, an alarming increase in the covid-19 cases around the globe continued to weigh on the market sentiments. Widening impact of the pandemic on the global economy continued to boost the demand for the safe haven, Gold."

Gold price rises to Rs 51,380; silver rates at Rs 68,000

9: 25 am: Of 30 Sensex stocks, 25 are trading in the green. Top Sensex losers are HUL, Asian Paints and Maruti falling nearly 0.44%.

9: 22 am: Market breadth is positive with 1288 stocks rising against 268 falling on BSE. 67 stocks were unchanged.

9: 21 am : RIL share hits all time high of Rs 2,360, rising over 1% on report Carlyle may buy stake in Reliance Retail.

9:18  am: Top Sensex gainers were HCL Tech, Tech Mahindra and Reliance Industries.

9:15 am: Sensex opens 340 points higher at 39,195 against previous close of 38,854. Nifty rises 92 points to 11,557.

9:00 am : Previous close

Sensex rose 14 points to 38,854 and Nifty gained 15 points to 11,464. Market was looking for cues after global equities were trading mildly lower amid rise in coronavirus cases and negligible signs of recovery in major economies from economic slowdown.

8:55 am: Global markets

Asian shares rose Monday as traders awaited cues from the US central bank expected later in the week.

Japan's Nikkei 225 gained 0.7% to 23,570.55. Australia's S&P/ASX 200 added 0.6% to 5,893.40. South Korea's Kospi jumped 1.2% to 2,426.42. Hong Kong's Hang Seng gained nearly 1.0% to 24,744.86, while the Shanghai Composite rose 0.6% to 3,278.89. On Wall Street, the S&P 500 rose 1.78, or 0.1%, to 3,340.97 after a day of the lightning-quick shifts in momentum that have rocked Wall Street recently.