Indian Stock Market Closes Positively; Sensex and Nifty Gain
The Indian stock market ended the day on a strong note. The BSE Sensex surged by 375.61 points, closing at 81,183.93, while the Nifty 50 climbed 84.25 points to reach 24,852.15. The market’s upward momentum was driven by buying activity in select sectors, overcoming earlier concerns related to global cues and weaknesses in the banking sector.
HINDUNILVR, SHRIRAMFIN, ICICIBANK, ITC and BRITANNIA were the top gainers and ONGC, TECHM, BPCL, TATASTEEL, and HINDALCO were among the top losers of Nifty 50.
IPO Highlights
- New IPOs Launched on September 9, 2024:
- Kross Limited IPO
- Tolins Tyres Limited IPO
- Bajaj Housing Finance Limited IPO
- Bajaj Housing Finance IPO witnessed strong investor interest, being oversubscribed 2.26 times on its first day of bidding. The retail category was subscribed 1.79 times, the Non-Institutional Investors (NII) category 4.35 times, the Qualified Institutional Investors (QIB) category 1.14 times, and the Employee category 0.38 times.
F&O Trading Ban for September 10
The National Stock Exchange (NSE) has banned seven stocks from Futures and Options (F&O) trading for September 10, 2024:
- Aditya Birla Fashion Retail
- Balrampur Chini Mills
- Bandhan Bank
- Biocon
- Chambal Fertilizers & Chemicals
- Hindustan Copper
- RBL Bank
Gold and Silver Prices Today
- Gold Prices: ₹7,287 per gram for 24K and ₹6,680 per gram for 22K.
- Silver Price: ₹85,000 per kilogram.
54th GST Council Meeting
A new Group of Ministers (GoM) is expected to submit a report by October 2024 concerning the Goods and Services Tax (GST) on health insurance premiums. The GST Council may consider implementing an 18% GST levy on health insurance during its November 2024 meeting, which could affect the cost and accessibility of health insurance for Indian consumers.
