Indian Equity Markets Close on a Positive Note, Nifty50 at Record Closing High

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The Indian equity markets closed on a positive note on September 14, tracking positive global cues. The Nifty50 index closed at a fresh record high of 20,103, while the BSE Sensex rose 52 points to 67,519.

The market breadth was positive, with the advance-decline ratio standing at 1.4. A total of 1,795 shares advanced, 1,328 shares declined, and 122 shares remained unchanged.

The Nifty50 formed a spinning top candle on the daily charts, which is a neutral signal. However, the index closed above the 20,000 level, which is a positive sign.

The Bank Nifty failed to give a decisive breakout above the 46,000 mark, but it also closed in positive territory.

The call writing at 20,100 strike indicates that there is some resistance at this level. However, the put writing at 20,000 strike suggests that the market is likely to consolidate in the near term.

A high delivery percentage was seen in stocks such as Shree Cement, Pidilite Industries, and Godrej Consumer Products. This suggests that investors are actively trading these stocks.

71 stocks saw a long build-up, while 9 stocks saw long unwinding. This suggests that there is still some buying interest in the market.

44 stocks saw a short build-up, while 63 stocks saw short-covering. This suggests that some short sellers are covering their positions.

Overall, the market is likely to remain rangebound in the near term. Investors should adopt a cautious approach and avoid taking any large positions.

Here are some stocks that were in the news on September 14:

  • NTPC signed a supplementary joint venture agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam (UPRVUNL).
  • Schneider Electric Infrastructure appointed Udai Singh as its new MD and CEO.
  • Bharat Forge and Kalyani Strategic Systems agreed to broaden their development and manufacturing partnership for armoured vehicles.
  • Strides Pharma Science received tentative approval from the USFDA for Dolutegravir 50mg tablets.
  • Tata Power Renewable Energy signed a power delivery agreement with Xpro India for the development of a 3.125 MW AC group captive solar plant.

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