Stock Market LIVE Updates: Sensex up 300pts, Nifty at 25,300; Gala Precision IPO oversubscribed 2x
Stock Market LIVE Updates: Benchmark indices BSE Sensex and Nifty 50 opened at record highs on Monday, driven by robust GDP figures that showed India as the fastest growing economy.
 "markets")
Image: Bloomberg
Stock Market LIVE Updates, Monday, September 2, 2024: Indian benchmark indices BSE Sensex and Nifty 50 started on a strong note on Monday, with both the benchmark indices opening at record highs, led by robust GDP figures for the first quarter of fiscal 2025, even though economic activity was subdued due to the general elections in the quarter.
At 11:00 AM, the BSE Sensex was at 82,637.40, up by 0.33 per cent, while the Nifty 50 was at 25,315.05, aheady by 0.31 per cent.
Elsewhere, Asia-Pacific markets opened on a mixed note on Monday as investors focus on a packed week of economic data and assess China’s business activity figures released over the weekend.
Among the economic data coming out from major markets in the region are inflation data from South Korea, Australia’s second-quarter GDP data, as well as data on pay and household spending from Japan later this week.
China released its official purchasing managers’ index data for August. The manufacturing PMI fell to a six month low of 49.1, a faster contraction compared to the 49.4 seen in July.
The figure also missed the median forecast of 49.5 from economists polled by Reuters, with the index marking its fourth straight month in contraction territory.
On the other hand, China’s non-manufacturing PMI climbed to 50.3, up from July’s 50.2.
Japan’s Nikkei 225 was up 0.94 per cent, crossing the 39,000 mark for the first time since July 31, while the broad based Topix was 0.49 per cent higher.
In contrast, South Korea’s Kospi lost 0.49 per cent, while the small cap Kosdaq was marginally lower.
Australia’s S&P/ASX 200 slipped 0.43 per cent, and Hong Kong's Hang Seng index futures sat at 17,785, lower than the HSI’s last close of 17,989.07.
Oil prices fell. Brent crude futures for October delivery, which expired on Friday, settled 1.43 per cent at $78.80 a barrel, marking a decline of 0.3 per cent for the week and 2.4 per cent for the month.
US West Texas Intermediate crude futures settled down 3.11 per cent to $73.55.
Gold prices weakened. Spot gold lost 0.74 per cent to $2,502.44 an ounce. US gold futures settled 1.3 per cent lower at $2,527.6.
On Friday, the Dow Jones Industrial Average had finished up 0.55 per cent to 41,563.08. Benchmark S&P 500 gained 1.01 per cent to end at 5,648.40 and the Nasdaq Composite gained 1.13 per cent to close at 17,713.62.
11:31 AM![]()
Stock Market LIVE Updates: Centum Electronics share price rises 4% on bagging work order from DRDO
Stock Market LIVE Updates: Shares of Centum Electronics gained up to 4.32 per cent to hit an intraday high of Rs 1778 per share on Monday, September 2, 2024. However, at 11:06 AM, shares were off highs and were trading 1,.57 per cent higher at Rs 1731.05 per share. In comparison, BSE Sensex was trading 0.33 per cent higher at 82,639.34 levels. READ MORE
11:27 AM
Stock Market LIVE Updates: Hazoor Multi Projects bags work order from BG Shirke
Stock Market LIVE Updates: Hazoor Multi Projects bags work order worth Rs 30 crore from BG Shirke, stock rises 2 per cent.
11:21 AM![]()
Stock Market LIVE Update: India's manufacturing activity growth hits 3-mth low in Aug, shows PMI
Stock Market LIVE Update: India's manufacturing activity growth eased to a three-month low in August as demand softened significantly, a private-sector survey showed on Monday, casting another shadow over the otherwise robust economic outlook. READ MORE
11:18 AM
Stock Market LIVE Update: Gala Precision Engineering IPO subscribed 2x
Stock Market LIVE Update: Gala Precision Engineering IPO in the oversubscribed zone.
11:08 AM
Stock Market LIVE Updates: Sensex up over 200 pts
Market check:: The benchmark BSE Sensex was trading at 82,607 levels, up 0.29 per cent.
11:06 AM
Globus Spirits zooms 28% in two days; Motilal Oswal MF buys stake in co
Shares of Globus Spirits (GSL) hit a fresh 52-week high of Rs 1,154, as they rallied 8 per cent on the National Stock Exchange (NSE) in Monday’s intra-day trade amid heavy volumes. In the past two days, the stock of the breweries and distilleries company has zoomed 28 per cent from the level of Rs 900.10 on Thursday, August 29. Read more
10:57 AM![]()
Stock Market LIVE Updates: MOIL shares slump over 3% after price reduction of manganese ore; details
Shares of MOIL dropped as much as 3.2 per cent at Rs 387.05 per share on the BSE in Monday’s intraday deals. The stock prices of MOIL slipped after the company announced that effective September 1, 2024, it will reduce prices across several categories of Manganese Ore and related products. Read more
10:41 AM![]()
Stock Market LIVE Updates: Manufacturing PMI falls to 57.50 pts in Aug from 58.10 in July
India's Manufacturing PMI decreased to 57.50 points in August from 58.10 points in July 2024.
10:26 AM
Stock Market LIVE Updates: Ashok Leyland drops 2% after lower Y-o-Y sales in Aug
The company's August total sales were 14,463 units, compared to 15,576 units in the same period last year.
10:16 AM
This comes after Brokerages said that they are optimistic about Gujarat Gas following the board’s approval of a merger and demerger plan involving Gujarat State Petroleum Corporation (GSPC) and Gujarat State Petronet Limited (GSPL). Analysts believe that the restructuring of these Gujarat companies will simplify the existing layered structure. Read more
Gujarat Gas stock flies 14% on merger, demerger plan; brokerages upbeat
Brokerages on Gujarat Gas: Gujarat Gas stock was buzzing in trade on Monday, September 2, 2024. The Gujarat Gas scrip rallied as much as 13.63 per cent to hit an intraday high of Rs 689.45 apiece.
This comes after Brokerages said that they are optimistic about Gujarat Gas following the board’s approval of a merger and demerger plan involving Gujarat State Petroleum Corporation (GSPC) and Gujarat State Petronet Limited (GSPL). Analysts believe that the restructuring of these Gujarat companies will simplify the existing layered structure. Read more
9:51 AM
Stock Market LIVE Updates: Nifty50 logs fresh high at 25,333
Along with Sensex, Nifty50, too, recorded a fresh summit at 25,333 levels, jumping 98 points from its previous close.
9:47 AM
Stock Market LIVE Updates: Sensex soars to a record high of 82,725
The BSE Sensex surged as much as 360 points intraday on Monday to hit a record high of 82,725 levels.
9:42 AM ![]()
Market View: IT, Pharma getting flows while railways, defence see exits
The market has entered a zone of steady but mild up-move caused by accumulation of quality largecaps. FIIs turning buyers last week mainly due to some large bulk deals also has improved sentiments in the market. If the market closes positive today that will be a record for the Indian stock market with the Nifty posting a record 13-day winning streak. Sentiment-wise this is positive.
Sectoral churns are happening faster now than earlier. IT has come back on hopes of increased tech spending in the US which the expected soft landing of the US economy is likely to facilitate. Pharma stocks are witnessing accumulation on improving business prospects. Profit booking is happening in segments like railways and defence triggered by valuation concern.
FY25 Q1 GDP print at 6.7 per cent indicates mild sluggishness in the economy. This will warrant rate cuts by the RBI in the next monetary policy meeting. Even though banks are struggling for deposits, rate cuts will improve the prospects for banking stocks.
(View by: Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services)
(View by: Dr V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services)
9:39 AM
SJVN, RailTel, and NHPC zoom up to 3% each after 'Navratna' status
he central government has granted Navratna Status to SJVN, NHPC and RailTel Corporation of India. Now, these state-owned companies will not have to seek the government's approval for investments upto Rs 1,000 crore.
9:36 AM
Stock Market LIVE Updates: MOIL drops 2% after reducing prices of ferro-grade manganese ores
The company has reduced the prices of ferro-grade manganese ores with manganese content of Mn-44 per cent and above by 20 per cent for September. It has also lowered the prices of all other ferro grades of manganese ore with manganese content below Mn-44 per cent by 15 per cent, and prices of all SMGR (Mn-30 per cent and Mn-25 per cent), fines, and chemical grades by 15 per cent.
Topics : MARKET LIVE MARKETS TODAY Indian stock market share market BSE NSE BSE NSE equity Nifty 50 Nifty50 Markets Sensex Nifty S&P BSE Sensex
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Sep 02 2024 | 7:32 AM IST
