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Adani Total Gas, Glenmark Pharma, and SpiceJet shares surge on key developments, Manba Finance IPO fully subscribed
Adani Total Gas, Glenmark Pharma, and SpiceJet shares surge on key developments, Manba Finance IPO fully subscribed
Written by - Fisdom Research
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September 23, 2024
2 minutes
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Market Snapshot
On September 23, the market reached new record highs, with Nifty crossing a significant milestone, driven by broad-based sector gains except for Information Technology.
The PSU Bank and Realty indices saw strong growth, while sectors like auto, energy, FMCG, metal, pharma, and media posted modest gains. The Information Technology index experienced a slight decline.
Both the BSE midcap and smallcap indices also showed steady upward momentum.
Sectoral Trends
Sector Name
% Change
Sector Name
% Change
NIFTY PSU BANK
3.4
NIFTY CONSUMER DURABLES
1.2
NIFTY REALTY
2.2
NIFTY MEDIA
0.7
NIFTY OIL & GAS
1.9
NIFTY FINANCIAL SERVICES
0.7
NIFTY AUTO
1.6
NIFTY FMCG
0.7
Technical Outlook: Key Indices
Indices Name
Support
Resistance
Nifty
25,800
26,000
Bank Nifty
53,500-53,700
54,500
Top News
Adani Total Gas shares surged over 5% after securing $375 million in global financing, marking the largest funding in the city gas distribution sector.
Glenmark Pharma shares jumped 5% after its Aurangabad manufacturing facility passed the US FDA’s routine inspection with no observations.
SpiceJet shares soared over 5% after the airline raised Rs 3,000 crore through a share sale to qualified institutional buyers, boosting the struggling carrier.
KRN Heat Exchanger and Refrigeration’s Rs 342-cr IPO to open on Sep 25
HDFC Bank approves IPO of HDB Financial Services with fresh equity sale of Rs 2,500 crore
Manba Finance IPO fully subscribed within one hour of bidding process, retail portion booked 9X
Focus Smallcase Updates
Fisdom Prime Five Smallcase delivered ~17% in the last three months. The portfolio consistently outperformed the benchmark index by a wider margin.
