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Markets at a Glance:
Nifty and Sensex fell by 21.8 and 65.6 points today and closed at 11131.8 and 37668.4 levels respectively. Though markets dropped heavily in afternoon session, it recovered at the time of closing because of gains made by RIL. Sector wise, Nifty Media, Pharma and PSU Bank took the most beatings while other sectoral indices closed almost flat.
Top Losers/Gainers:
Axis Bank, Coal India, GAIL, HDFC Bank and Hindustan Uniliver were among the top winners in today’s session, while Bharti Infratel, Bharti Airtel, Tata Steel, Zee Entertainment Enterprises and IndusInd Bank were the top losers today.
DII/FII Data:
DIIs changed their trend and become net buyers by investing Rs.1629.23 crore, while FII continued their sell-off due to market volatility and took away home Rs.3912.44 crore.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 23-Sep-20 | 5,186.24 | 3,557.01 | 1,629.23 |
| FII/FPI | 23-Sep-20 | 4,190.07 | 8,102.51 | -3,912.44 |
Telecom Stocks fell heavily over Jio’s Postpaid Announcement:
After Jio’s announcement of launching new postpaid plans along with OTT content access and many other benefits, stocks of Bharti Airtel and Vodafone-Idea ltd (VI) contracted by almost 8-10% in today’s session.
Reliance Jio is targeting the high paying postpaid subscribers of peer telcos by offering lucrative plans. In other news, private equity firm KKR will invest Rs.5500 crore in Reliance retail for 1.28% stake.
CAMS & Chemcon IPO subscription ends today, Angel Broking still in the race:
Amid volatile secondary markets, IPO primary market is still booming. IPO subscription for CAMS and Chemcon is ended today with stellar response by getting subscribed for 47x and 149x times. While tomorrow (24th Sept) is last date for subscribing to Angel Broking IPO. So far it got subscribed by 1.46x times.
Hexaware Technologies set delisting price at Rs.475:
Promotors of Hexaware technologies have accepted the discovered price of Rs.475 per equity share as the final/exit price for delisting offer. All public shareholders who have tendered their equity shares at or below the exit price will be paid a consideration of Rs.475 per share by 30th September.
The main objective of the proposal is to provide full ownership of the company to the promoter group which, in turn, will provide increased operational flexibility to support the business. Its stock hit 52-week high over this news and closed at Rs.468.45 on NSE.