Nifty, Sensex May Rally a Bit More Before Further Decline - Wednesday Closing Report
Moneylife Digital Team 27 September 2023
Yesterday we had mentioned that Nifty, Sensex may rally. On Wednesday, 2008 stocks advanced, 1640 declined and 151 remained unchanged on the Bombay Stock Exchange (BSE), with an advance decline ratio of 1.22 indicating a positive closing of stocks in broader markets. We expect the market to rally a bit more though we believe it is still not out of the woods. The trend of the major indices on Wednesday’s trading is given in the table below:
On NSE, 75 securities advanced and closed at a new 52-week high whereas 22 securities sank to close at their new 52-week lows.  In sectoral indices, all sectors ended in green - Nifty Pharma, Nifty PSU bank and Nifty FMCG were among the biggest gainers.  
Infosys (+0.43%) launched industry cloud to catalyse digital transformation of the commercial airline industry.
PFC transferred its subsidiary Ananthpuram Kurnool Transmission to Power Grid (+0.50%).
Coal India (+1.67%) received revised notice from central trade unions for three-day strike.
Aurobindo Pharma (+2.69%) unit entered into a licence agreement with Hilleman laboratories Singapore to manufacture and commercialise pentavalent vaccine candidate used in children vaccination.
Dixon Technologies (+3.67%)  unit entered into an agreement with Xiaomi for manufacturing of smart phones and other related products for Xiaomi.
GE shipping (+0.60%) has contracted to sell its 2006 built supramax dry bulk carrier.
Ahluwalia Contracts (+1.04%) received project worth for Rs832.40 crore from Max Life Hospitals.
Likhitha Infrastructure Limited (+0.92%) approved fund raising of Rs125 crore by QIP.
Alphalogic Industries (+0.53%) won order worth Rs70 lakhs to design, manufacture, supply and installation of storage racking system from Scootsy Logistics (Swiggy).
Cipla (+1.45%) introduced drone-powered critical medicine delivery in Himachal Pradesh. 
In large trades, 360 One Wam (-0.49%) 20,01,221 equity shares changed hands at an average price of Rs510 per share. Bandhan Bank (-0.04%) 3431663 equity shares changed hands at an average price of Rs251.9 per share
Eclerx Services (+1.41%) insiders bought net 1,929 shares through open market. HLE Glascoat(+4.36%) Promoter sold net 1,009,521 shares through open market. Usha Martin (-0.01%) Promoter bought net 80,000 shares through open market.
The top gainers and top losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:
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