Press "Enter" to skip to content

Share Market LIVE: Nifty below 15,600, support moves to 15,450; Sensex tanks over 500 pts amid pharma sell-off – The Financial Express

Nifty Pharma gained nearly one per cent, after trading with losses in early trade on Wednesday

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading over a per cent down on Wednesday, on weak global cues. BSE Sensex was hovering around 51,900, while Nifty 50 gave up 15,550 levels. Nestle India, Housing Development Finance Corporation (HDFC), Axis Bank, L&T, Asian Paints, TCS, HDFC Bank, ICICI Bank were top Sensex losers. Gains in IndusInd Bank, Hindustan Unilever Ltd (HUL), Tech Mahindra, Bharti Airtel, UltaTech Cement stocks capped losses in BSE Sensex. Nifty Pharma gained nearly one per cent, after trading with losses in early trade on Wednesday. The index was ruling at 14,030 levels. Barring Nifty Pharma and Nifty Metal, all the sectoral indices were ruling in the red, with Nifty Financial Services leading the charge.

Rolex Rings mopped up Rs 219.3 crore from 26 anchor investors on 27 July 2021. The Rs 731-crore IPO has opened for subscription on Wednesday, 28 July 2021, at a price of Rs 880-900 per share. The issue comprises a fresh issue of Rs 56 crore and an offer-for-sale (OFS) of up to Rs 75 lakh equity shares by Rivendell PE LLC (formerly known as NSR-PE Mauritius LLC). This is the 29th IPO in the calendar year 2021.

Weakness in Asian markets with a sell-off in large-cap stocks especially the pharma sector has triggered a downtrend today in Nifty thus far. Technically, if Nifty closes below 15636, we could be headed towards 15505 & 15380  in the coming sessions. AR Ramachandran, Co-founder & Trainer, Tips2Trades

“A close below 15,632 today would mean more downside coming in Nifty. Best to take one move at a time as volatility is expected to be high. Maintain breasish stance below 15,632,” said Rahul Sharma, Direct & Head – Research, JM Financial.

But if 15600-15650 gets violated, then markets are likely to extend the correction in the coming days. BANKNIFTY is too placed at make or break levels of 34200-33900. The most important space to watch out would be NIFTY MIDCAP 50. Because in last one month, the real action was seen in the broader market and is experiencing some profit booking now. So keep our fingers crossed and hope for some recovery in the latter half to keep the short term uptrend intact. Sameet Chavan Chief Analyst – Technical and Derivative Angel Broking

The global sell off is clearly weighing down heavily on our market since the second half of Tuesday. We first breached the intermediate support of 15800 and now are challenging the crucial support zone of 15550. For us today’s close would be quite crucial and hence we would keep a close eye on 15600-15650 levels. If we manage to reclaim these levels on a closing basis, there is no reason to worry for. Sameet Chavan Chief Analyst – Technical and Derivative Angel Broking

Nifty is currently trading at 15545, below its key support level of 15580. Now the next level to watch and which will act as support is 15450, it is the previous month’s low. Any breach of 15450 on a closing basis may take Nifty to 15300 levels. 15620-15700 range will act as strong resistance for Nifty. Readers are advised to maintain strict stop loss in the system to protect capital and book profits. Gaurav Udani, Founder & CEO, Thincredblu Securities

Nifty has broken its important support of 15600, if it sustains below 15600 on a closing basis then it may fall further towards 15500-15400 in the near term, however, if Nifty crosses and sustain above 15680 then some short-covering action can be seen which could give more pullback towards 15750-15800. Rajesh Palviya VP – Research (Head Technical and Derivatives) Axis Securities

Nifty 50 is trading in a support zone of 15,550-15,650. For us, today’s closing level is more important than the intraday movement. Sameet Chavan Chief Analyst – Technical and Derivative Angel Broking

India VIX, volatility index, surged 15.20 per cent to 15.25 levels as BSE Sensex, Nifty 50 tanked

Sensex has extended losses, trading over 650 points or 1.24 per cent down at 51,924. While Nifty 50 index gave up the 15,600 support level

Nifty Pharma index tanks 1.23 per cent dragged by Dr Reddy’s Laboratories, Cadila Healthcare, Cipla, Aurobindo Pharma, which were down up to 2.75 per cent

The index is nearing its short-term support of 15600. If it breaks this on a closing basis, the next pit stop would be 15400 which is a crucial medium-term support. If we break that as well, we might witness a pause to the current uptrend. Traders would then need to re-evaluate the bullish trend of this market. If either of the levels do not break, we will continue remaining range bound between 15400 and 15900. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were seen trading higher in India on Wednesday, even as global rates were flat. On Multi Commodity Exchange, gold August futures were up Rs 62 or 0.13 per cent at Rs 47,635 per 10 gram, while silver September futures jumped Rs 236 or 0.4 per cent to Rs 66,292 per kg. In the previous session, gold futures ended at Rs 47,573, and silver at Rs 66,056. Globally, yellow metal was flat on Wednesday, holding near the key psychological level of $1,800 per ounce, as investors await the US Federal Reserve’s meeting for hints on policy tapering plans.

Read full story

There is a mild risk-off in equity markets globally as reflected in the rising dollar (dollar index at 92.80 now). The sell-off in Chinese tech stocks on Beijing’s regulatory crackdown has triggered concerns about whether this sell-off will spread to other segments. China is too big now. It can cause flutters in global markets. This space needs to be watched cautiously. The Nifty range 15600 – 15900 has become strong with sustained FII selling around 15900 and strong retail & DII buying around 15600. This range is likely to hold for some time.A significant trend in the market now is sectoral shifts. Yesterday there has been across a board selling in pharma stocks. Profits booked in this segment is moving into other sectors. The relative outperformance in front line financials indicate a sectoral shift. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services

On the domestic front, International Monetary Fund has cut India’s growth projection from 12.5 % to 9.5% for fiscal 2021-22, as the impact of the second wave has slowed recovery efforts. However, the only ray of hope to support the rupee is the FII inflows on account of the upcoming 9 IPO’s for Rs 20,000 crs. Hereon, the rupee shall take cues from further movement in the dollar index over developments in policy meeting. Till then, inflows on account of Rolex rings and Govt stake sale of 8% in HUDCO and month-end expiry shall keep rupee tucked between 74.30-74.70 levels for the day. Amit Pabari, managing director, CR Forex Advisors

Barring Nifty Pharma and Nifty Metal, all the sectoral indices were ruling in the red, with Nifty Financial Services leading the charge

Nifty Pharma gained nearly one per cent, after trading with losses in early trade on Wednesday. The index was ruling at 14,030 levels

Gains in IndusInd Bank, Hindustan Unilever Ltd (HUL), Tech Mahindra, Bharti Airtel, UltaTech Cement stocks capped losses in BSE Sensex

Nestle India, Housing Development Finance Corporation (HDFC), Axis Bank, L&T, Asian Paints, TCS, HDFC Bank, ICICI Bank were top Sensex losers

Following Tuesday’s sell-off in pharma stocks, Nifty Pharma index fell over half per cent yet again on Wednesday, dragged by losses in Torrent Pharma, Cipla, Dr Reddy’s Lab

BSE Sensex fell 276 points or 0.53 per cent to 52,301, while Nifty 50 index gave up 15,700 level and was trading at 15,662.

Nifty is expected to open around 15780, up by about 45 points. On Tuesday, Nifty made a bearish bar and was down by 86 points. Weakness on Nifty may continue today, 15700 and 15580 will act as support and 15880-15920 range will act as strong resistance. Readers holding long positions are advised to maintain caution. Gaurav Udani, CEO & Founder, ThincRedBlu Securities

BSE Sensex jumped 358 points or 0.68 per cent in pre-opening session on Wednesday.

Check live Sensex, Nifty levels

Technically, the 20 day and 50 day SMAs would play an important role in the near future, we can expect a quick pullback rally if the index succeeds to close above the same. On the flip side 15600/ 52200 or 50 day SMA would be the key support levels for the bulls below the same uptrend would be vulnerable.

Read full story

BSE-listed companies such as ABB India, Astec Lifesciences, Birlasoft, Central Bank of India, Maruti Suzuki India, Nestle India, Century Textiles & Industries, Coforge, Dhanlaxmi Bank, Embassy Office Parks REIT, Gateway Distriparks, Geojit Financial Services, Happiest Minds Technologies, IDBI Bank, Mahindra Lifespace Developers, Mahanagar Gas, Pfizer, Radico Khaitan, Ramco Systems, Route Mobile, RPG Life Sciences, Sagar Cements, SRF, Tata Coffee, TCI Express, TeamLease Services, United Breweries, UTI Asset Management Company, and Welspun India, are scheduled to announce their April-June quarter earnings on Wednesday.

Read full story

Rolex Rings Rs 731-crore IPO will open for subscription on Wednesday, 28 July 2021, at a price of Rs 880-900 per share. Automotive components manufacturer Rolex Rings public issue will close for subscription on Friday, 30 July 2021. The issue will comprise a fresh issue of Rs 56 crore and an offer-for-sale (OFS) of up to Rs 75 lakh equity shares by Rivendell PE LLC (formerly known as NSR-PE Mauritius LLC). Equirus Capital Private Limited, IDBI Capital Markets & Securities Limited, and JM Financial Limited are the book running lead managers to the issue. Link Intime India Pvt Ltd is the registrar to the issue.

Read full story

BSE Sensex and Nifty 50 ended with losses for the second consecutive day on Tuesday, following weak European markets, coupled with sell-off in Chinese tech giants, which tumbled up to 9 per cent, dampening investor sentiment. Moreover, market participants remained on edge ahead of the US Federal Reserve’s two-day monetary policy meeting that starts later in the day. BSE Sensex fell 273.51 points to end at 52,578.76, while the Nifty 50 index settled at 15,746.45

Read full story

Nifty Pharma index came under attack from bears on Tuesday forcing the sectoral gauge to close 4.33% lower, the worst single-day fall recorded by the index since December last year. The sell-off in pharma stocks was led by heavyweights, with Dr Reedy’s Laboratories falling a massive 10.31% after its quarterly results failed to impress investors.

Read full story

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel have once again been left unchanged at record highs by oil marketing companies, marking the eleventh day of unchanged prices. Today, petrol in the national capital costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4 and nine times this month already, sitting at all-time highs. 

Read full story

Domestic equity markets plummeted on Tuesday as bears took control and forced Dalal Street lower. S&P BSE Sensex fell 273 points or 0.52% to closed at 52,578 while the NSE Nifty 50 was down 78 points or 0.49%, ending the day’s trade at 15,746. A sell-off in Asian stocks and a bad start to the earnings season for pharma companies acted as catalysts for the weakness. Nifty Pharma ended 4.33% lower. On Wednesday morning, SGX Nifty was up with gains, hinting at some positive build-up ahead of the opening bell. 

Read full story

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates