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News Honour > Blog > Business > Share Market HIGHLIGHTS: Nifty50 halts 5-day losing streak but … – Zee Business
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Share Market HIGHLIGHTS: Nifty50 halts 5-day losing streak but … – Zee Business

PATELPAYAL
Last updated: 2023/09/16 at 3:28 AM
By PATELPAYAL 7 Min Read
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Share Market HIGHLIGHTS: Indian equity benchmarks Nifty and Sensex finished yet another wild day on Dalal Street with mild gains on Thursday. The Indian stock market took nascent positive cues from European equities and Wall Street futures after a bounceback in Credit Suisse shares led to optimism of an end to the turmoil in banking shares around the globe, already rattled by the sudden collapse of Silicon Valley Bank (SVB).
Here are some of the key headlines of the day: 
Cooling crude oil price sends IOC, BPCL, HINDPETRO shares soaring
100% DIVIDEND! Hint: It’s an Aditya Birla group company
SBI Life gets ‘overweight’ rating by JPMorgan
Patanjali Foods shares tank after bourses freeze promotors’ holding
MF’s favourite stock now available at 30% discount to life high
SIP stoppage ratio at 27-month high as investors shut accounts aggressively
sensex live share market today
 
The futures contracts of the three main US stock market indices − the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite − indicate a mixed start ahead in the US share market today. 
Dow LIVE
Here’s where the three contracts stand at this hour:
Here’s a look at the 10 stocks that moved the most in the Nifty50 universe:
2.1
Both main indices of the Indian stock market close higher after five back-to-back sessions of losses. The Nifty50 ends with a gain of 13.5 points or 0.1 per cent at 16,985.6, after broadly moving within the 16,850-17,050 band in intraday trade.
The Sensex settles 78.9 points or 0.1 per cent stronger for the day at 57,634.8, having gyrated in a range of more than 700 points around the flatline amid volatile trade during the session.
Sensex
sensex live share market today
Nifty
nifty live share market today
Aditya Birla Sun Life AMC shares rise 0.6 per cent to touch Rs 357.8 on the upside, after the company announces a dividend of Rs 5 per share.
The record date for the latest dividend is March 24. A record date is the date that determines the shareholders eligible to benefit from corporate action such as a dividend payout. 
The dividend will be paid on or before April 10, 2023, according to a regulatory filing.
Steel Authority of India shares are about to close lower for the day, having struggled well below the flatline throughout the session. The SAIL stock declined by as much as Rs 3.7 or 4.2 per cent to Rs 84 apiece on BSE.
sail share price bse nse today
 
Credit Suisse shares begin the day with a big leap into the green, rising 27.6 per cent at the strongest level of the day so far. The jump in the Credit Suisse stock comes on the back of the company securing a lifeline from the Swiss central bank to shore up investor confidence, recouping some of the losses that stripped off a quarter of its market value on Wednesday.
The Swiss bank says it will make use of a $54-billion loan from the Swiss National Bank, sending positive signals to the equity markets across Asia and Europe.
Analysts say sustained gains in the Credit Suisse stock through the day may support the sentiment across global financial stocks. 
Read more on Credit Suisse shares
The Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund owned by the Emirate of Abu Dhabi, is investing $500 million in Indian eyewear retailer Lenskart, according to a company statement.
The deal includes both primary and secondary shares. Once the deal completes, it will make ADIA one of the largest shareholders in Lenskart. 
According to the brokerage, cheaper crude oil will aid the marketing margins of the oil marketing companies, and likely improve their gross refining margins (GRMs) in the long term. 
The pan-European Stoxx 600 index is up 3.4 points or 0.8 per cent at 439.8 shortly after the opening bell, having risen as much as 1.4 per cent within the first few minutes of trade.
Here’s what some of the key indices in the region look like: 
Patanjali Foods shares are down by Rs 20.9 or 2.2 per cent at Rs 940 apiece on BSE, having been locked in the five per cent lower circuit at Rs 912.9 apiece earlier in the day. Weakness in the stock comes after bourses froze promoter holding of the company over failure to comply with public ownership norms within the stipulated time. 
The promoter stake in Patanjali Foods stands at 80.82 per cent.
As per Sebi rules, a listed company has to ensure minimum public shareholding of 25 per cent. 

Read more on Patanjali shares
Vikas Salunkhe of Nirmal Bang Securities has two stock picks for Zee Business viewers: 
 
At the strongest level of the day so far, Indian Oil (IOC) shares gain 1.9 per cent to Rs 80.2 apiece. The stock of Bharat Petroleum (BPCL) jumps as much as 5.3 per cent to Rs 347.8 apiece and that of Hindustan Petroleum (HINDPETRO) as much as 6.5 per cent to Rs 245.5 apiece. 
On Wednesday, international crude oil benchmarks plunged to their lowest levels in more than a year amid concerns that a crisis of confidence in the banking sector could trigger a recession and affect demand.
Falling crude oil prices are positive for India, which meets the lion’s share of its oil requirement through imports.
Here’s how the stocks have moved today so far: 
IOC
IOC share price today BSE NSE
BPCL
BPCL share price today BSE NSE
HINDPETRO
HINDPETRO share price today BSE NSE
Motilal Oswal Financial Services’ Arpit Beriwal also has two stock recommendations: 
Here’s how the two scrips have moved in the past five sessions:
Petronet LNG 
petronet share price bse nse
Petronet shares have risen about four per cent during this period.   
Hindalco
hindalco share price bse nse today
Hindalco has fallen five per cent. 
Arpit Beriwal of Motilal Oswal Financial Services shares two index derivative calls with Zee Business viewers: 
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PATELPAYAL September 16, 2023 September 16, 2023
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