SENSEX Recovers 121 Points, NIFTY50 at 25,883 in Noon Trading; Ola Electric, Paytm, HCL Tech Among Active Stocks

Indian benchmark indices, SENSEX and NIFTY50, bounced back from earlier lows to trade positively during Thursday afternoon's session. Gains in IT and asset management company (AMC) stocks, coupled with renewed buying interest from foreign institutional investors (FIIs), supported the recovery.

According to exchange data, FIIs were net buyers of equity shares worth ₹1,449.22 crore on Wednesday. Domestic institutional investors (DIIs) also contributed with net purchases of ₹587.16 crore.

The SENSEX climbed as high as 84,744.21, a 0.22% increase on the day. The NIFTY50 also reached a session high of 25,884.80.

At 12:29 PM, the S&P BSE SENSEX was up 121.11 points, or 0.14%, at 84,680.76, recovering 442.33 points from its low point earlier in the session. The NSE NIFTY50 traded at 25,883.85, a gain of 65.30 points, or 0.25%.

**Top NIFTY50 Gainers:**

• InterGlobe Aviation (2.59%)
• Max Healthcare Institute (1.70%)
• Tata Consultancy Services (1.51%)
• Infosys (1.50%)
• Hindalco Industries (1.37%)

**Top NIFTY50 Losers:**

• Sun Pharmaceutical Industries (-2.74%)
• Power Grid Corporation of India (-1.55%)
• Mahindra & Mahindra (-1.33%)
• Bajaj Auto (-1.07%)
• NTPC (-0.96%)

**Stocks in the News:**

Shares of asset management companies like HDFC AMC (up 5.29%), UTI AMC (4.99%), and Nippon India (7.11%), along with broking firms such as Nuvama (4.56%) and Angel One (2.01%), experienced gains following SEBI's Wednesday announcement of revisions to mutual fund regulations. These revisions address expense ratios and exit loads, aiming for a more "balanced" approach.

SEBI's board introduced the concept of a base expense ratio (BER), excluding statutory levies like the security transaction tax (STT) and GST. This marks a shift from the current focus on the total expense ratio (TER). The TER will still exist as the sum of the BER, brokerage fees, regulatory levies, and statutory levies, according to SEBI.

Ola Electric Mobility's stock price declined by 4.5%, hitting a 52-week low of ₹31.42 on the NSE. This followed founder Bhavish Aggarwal's sale of 4.2 crore shares through open market transactions, valued at ₹142 crore. This sale occurred a day after Aggarwal monetized a portion of his personal stake to repay a ₹260 crore promoter-level loan.

Sun Pharma's shares fell by 3.11% to an intraday low of ₹1,737.20 after the US FDA inspected its Baska facility from September 8 to September 19. The US FDA classified the inspection status as Official Action Indicated (OAI), which, according to the FDA, suggests that regulatory or administrative actions are recommended.

HCL Technologies' stock rose by 1.14% to an intraday high of ₹1,673.90 after the IT services firm secured a contract with ASN Bank in the Netherlands. The deal aims to accelerate digital transformation and improve customer experience for the bank.

One 97 Communications, Paytm's parent company, saw its shares increase by 1.43%, reaching a session high of ₹1,286.80. This followed the Reserve Bank of India's (RBI) authorization of Paytm Payments Services Limited (PPSL) to operate as a payment aggregator for physical (offline) payments and cross-border transactions.

Meesho, the recently listed e-commerce firm, initially surged by 7.98% to a new 52-week high of ₹233.60 before retreating slightly. The initial surge followed a positive assessment from UBS, which highlighted Meesho's asset-light business model and positive cash flows.

Max Healthcare's stock increased by 1.82% to a day’s high of ₹1,049.90 after its board approved the acquisition of 100% equity in Yerawada Properties Private Limited (YPPL), Pune. The acquisition will occur in stages, pending the occupancy certificate for a planned hospital building on the land. Initially, Max Healthcare will acquire all Class A equity shares, representing 100% of the voting rights and approximately 50.22% of the economic interest in YPPL. The board also approved the development of a 450-bed super specialty hospital on YPPL's land, with an investment of up to ₹1,020 crore.

Zota Health Care's shares declined by 4.98% to an intraday low of ₹1,561.70 after its board approved the allotment of equity shares to qualified institutional buyers (QIBs), raising ₹350 crore through a qualified institutional placement (QIP). The company allotted 22,80,130 equity shares to eligible QIBs at ₹1,535 per share, including a premium of ₹1,525, which represents a discount of ₹80.28, or 4.97%, from the floor price.