Nifty finishes at 19,638.3 and the Sensex is up 320 points. Glenmark Pharma is up 10%

 Nifty finishes at 19,638.3 and the Sensex is up 320 points. Glenmark Pharma is up 10%

The S&P BSE Sensex was up 320.09 points, or 0.49 percent, at 65,828.41 at the close of trading, and the NSE Nifty was up 114.75 points, or 0.59 percent, at 19,638.3.

Today's stock market: On September 29, gains in banks and metal businesses helped the domestic equity indices rise. On the other hand, the bellwether of the IT industry, Accenture, forecast a poor year as spending remains low, which led to a decline in information technology stocks.

At closing, the NSE Nifty was up 114.75 points, or 0.59 percent, at 19,638, while the S&P BSE Sensex was up 320.09 points, or 0.49 percent, at 65,828.41.

The Nifty Mid Cap 100 and Small Cap 100 closed over 1% higher in the overall market.

PHYSICAL VIEW

"The hourly time frame's positive divergence and crossing also hints at a strong likelihood of a pullback. As a result, both the price and the momentum indicator point to the possibility of positive momentum over the coming trading sessions. According to levels, the critical support zone is between 19500 and 19480, while the immediate obstacle zone is between 19780 and 19840, according to Jatin Gedia, a technical research analyst at Sharekhan by BNP Paribas. 

Gedia farther Bank Nifty saw a downturn as well, and as a result, it was able to settle near to the 20-week moving average (44584)—a promising development. The positive divergence on the hourly time frame leads us to conclude that the Bank Nifty is experiencing a loss of momentum on the downside. From a short-term viewpoint, we anticipate a pullback to the upside toward the 45000 - 45200 region.

ACTIVE STOCKS 

Glenmark Pharma's closing price increased by about 10% as a result of S&P Global's enhanced rating.

Shares of Hindalco increased by more than 5%.

Following the company's announcement that it had acquired a 26% stake in Axiom Ayurveda, shares of Emami increased by more than 5%.

In contrast, Navin Fluorine International shares fell more than 13% following Radhesh R. Welling's resignation for personal reasons as managing director of the firm.

After International Holding Company (IHC) said it will sell its interest in India's Adani Green Energy and Adani Energy Solutions, shares of Adani Green Energy fell by more than 2%. 

Nifty IT experienced a 0.31 percent decline after Accenture released disappointing earnings.

WORLD MARKETS

After a day of mixed and sporadic trading in Asia, where several markets were closed for national holidays, shares increased in Europe on Friday. US futures moved higher as oil prices increased marginally. Inflationary pressures are increasing as crude oil prices remain close to their highest levels of the year, which is one reason the Federal Reserve wants to keep interest rates high.

The prospect of a US federal government shutdown is also casting doubt on the country's economic future. The DAX in Germany increased 0.8% to 15,438.45, and the CAC 40 in Paris increased 0.8% to 7,176.34. The FTSE 100 index in London was up 0.7% at 7,655.90. Less than 0.5 percentage points were added to the S&P 500 and Dow Jones Industrial Average futures, respectively.