Sensex hovers above 60K mark; Sansera Engg makes decent debut

September 24,2021

The key equity indices were hovering near record high levels in morning trade. IT shares advanced after Accenture announced strong Q4 earnings.

At 10:21 IST, the barometer index, the S&P BSE Sensex, was up 332.43 points or 0.56% to 60,217.79. The Nifty 50 index added 86.30 points or 0.48% to 17,909.25.

The Sensex hit a record high of 60,333 while the Nifty hit an all time high of 17,947.65 in morning trade.

In the broader market, the S&P BSE Mid-Cap index slipped 0.13% while the S&P BSE Small-Cap index rose 0.30%.

The market breadth was positive. On the BSE, 1522 shares rose and 1341 shares fell. A total of 165 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 230,558,634 with 4,728,274 deaths. India reported 301,640 active cases of COVID-19 infection and 446,050 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 84,09,03,125 COVID-19 vaccine doses have been administered in the country so far, with over 72.01 lakh doses being given yesterday, according to the Co-WIN dashboard.


The Reserve Bank of India (RBI) Governor Shaktikanta Das said that there are signs that the world is emerging from the shadow of coronavirus. While delivering the keynote address at the 48th National Management Convention of the All India Management Association, Das said the time is right to plan for an economy that is stronger, more inclusive and sustainable.

Stating that the pandemic has provided a new impetus to technology-driven companies such as fintech, edtech and health tech, RBI Governor Shaktikanta Das said the forces of 'creative destruction' are expected to boost productivity by encouraging greater competition, dynamism and innovation in several sectors of the economy.

Talking about the achievements of India's manufacturing sector, Das said the country has turned from being an importer to an exporter of mobile phones. He said the trend is likely to spill over to other sectors also; enhancing India's share in the Global Value Chain and increasing the competitiveness of India's large and Micro, Small and Medium Enterprises.

However, warning of uneven global recovery, the RBI Governor said multilateralism will lose credibility if it fails to ensure equitable access to vaccines across countries. He added that securing the health and immunity of the poor would mean a great leap towards inclusive growth.

New Listings:

Shares of Sansera Engineering were currently trading at Rs 829.30 at 10:19 IST on the BSE, at a premium of 11.47% as compared with the issue price of Rs 744 per share. The scrip was listed at Rs 811.35, a premium of 9.05% to the initial public offer (IPO) price.

The stock has hit a high of 842 and a low of 811.35 so far in the trading session. More than 6.75 lakh shares of the company changed hands in the counter so far on the BSE.

The IPO of Sansera Engineering opened for bidding on 14 September 2021 and closed on 16 September 2021. The price band of the IPO was Rs 734-744 per share.

The IPO received bids for 13.88 crore shares as against 1.21 crore shares on offer. The issue was subscribed 11.47 times.

Sansera Engineering is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors.

Buzzing Index:

The Nifty IT index rose 2.60% to 37,774.75, extending gains for fourth consecutive session. The index has added 6.71% in four sessions.

Larsen & Toubro Infotech (up 7.02%), Mphasis (up 3.71%), MindTree (up 2.87%), HCL Tech (up 2.91%), Oracle Financial (up 2.87%), Infosys (up 2.15%), Wipro (up 1.96%), Coforge (up 1.59%), TCS (up 1.31%) and Tech Mahindra (up 0.98%).

IT stocks were in demand after Accenture announced strong earnings for the fourth quarter.

Accenture Plc.'s revenue increased 24% year-on-year to $13.42 billion in the quarter nded August. For the full fiscal, revenue rose 14% over the preceding year to $50.5 billion.

Accenture expects revenues for the first quarter of fiscal 2022 to be in the range of $13.90 billion to $14.35 billion, an increase of 18% to 22% in local currency, reflecting the company's assumption of a positive 0.5% foreign-exchange impact compared with the first quarter of fiscal 2021. For fiscal 2022, the company expects revenue growth to be in the range of 12% to 15% in local currency.

Stocks in Spotlight:

UltraTech Cement shed 0.61% to Rs 7570. The company plans to meet 100% of its electricity requirement through renewables sources by 2050. It has committed to Climate Group's RE100 initiative at Climate Week NYC 2021.

HealthCare Global Enterprises rose 1.25% to Rs 252. ICRA has upgraded the rating of the long-term bank facilities of the company to 'ICRA A+/Stable' from 'ICRA A-/Stable' and short-term facilities to 'ICRA A1' from 'ICRA A2+'.

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