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Share Market LIVE: Nifty hits 17500, new historic high, Sensex at new high too; Bharti Airtel stock jumps 5% – The Financial Express

Nifty Media, extending the previous day rally, further rose 4 per cent. 

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading at fresh record high levels on Wednesday, a day before weekly F&O expiry. BSE Sensex touched an all-time high of 58585.97, while the Nifty 50 index hit a new record high of 17,476.25. Titan, Bharti Airtel, Bajaj-Auto, M&M, Infosys, NTPC, Reliance Industries Ltd (RIL), Housing Development Finance Corporation (HDFC) were among top Sensex gainers. Axis Bank, Tech Mahindra, HCL Tech, HDFC Bank, Tata Consultancy Services (TCS), State Bank of India (SBI) were top BSE Sensex laggards. On sectoral front, Nifty Bank, Nifty Financial Services, Nifty Private Bank were trading in red. While Nifty Media, extending the previous day rally, further rose 4 per cent.

Amid a raging row over the hefty taxes on petrol and diesel, the Goods and Services Tax (GST) Council will deliberate on Friday on bringing petrol and diesel under the GST regime even as it is set to sort out the vexatious issue of whether and how to compensate states for any GST revenue shortfall beyond June 2022, sources told FE.

BSE Sensex was up 450 points or 0.76 per cent to 58,702, while Nfty 50 index crossed 17500, rising 0.70 per cent

Bharti Airtel share price hit a new all-time high, while other telecom stocks jumped ahead of the Union Cabinet meeting scheduled later today to consider financial relief to embattled companies. Bharti Airtel share price hit a record high of Rs 719.60, rising over 3 per cent on BSE. MTNL stock gained nearly 2 per cent while Reliance Communications added 1.6 per cent. Vodafone Idea stock was also up 0.58 per cent to Rs 8.74 apiece. The Union Cabinet is to meet later today to consider a moratorium on payment of spectrum dues by telecom firms.

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Nifty should be heading to 17550 and then 17750 as the next target points. Until this does not happen, we will be range-bound and choppy. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

ZEEL has formed a head and shoulder pattern on its daily charts but failed to give a breakdown below its neckline. Technically it is indicating a pullback in the near term. However, investors wanting to buy the stock should wait for a significant correction before investing. Likhita Chepa, Senior Research Analyst, CapitalVia Global Research

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold and silver prices in India fell on Wednesday, even as yellow metal held above the key psychological level of $1,800. On Multi Commodity Exchange, gold October futures were down Rs 37 to Rs 47,223 per 10 gram, as against the previous close of Rs 47260. Silver December futures were ruling at Rs 63,419 per kg, down Rs 166. In the previous session, silver futures ended at Rs 63,585. 

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Overall, the tone for the USDINR pair is likely to remain calmer until any unexpected event of economic data leads to a risk-aversion demand into the USD. Hence, the pair is expected to remain in a tight range of 73.30-73.80 over the short term and 73.00-74.20 over the medium term. Amit Pabari, managing director, CR Forex Advisors

On sectoral front, Nifty Bank, Nifty Financial Services, Nifty Private Bank were trading in red. While Nifty Media, extending the previous day rally, further rose 4 per cent. 

Axis Bank, Tech Mahindra, HCL Tech, HDFC Bank, Tata Consultancy Services (TCS), State Bank of India (SBI) were top BSE Sensex laggards

Titan, Bharti Airtel, Bajaj-Auto, M&M, Infosys, NTPC, Reliance Industries Ltd (RIL), Housing Development Finance Corporation (HDFC) were among top Sensex gainers

Zee Entertainment Enterprises share price surged 10 per cent to hit a fresh 52-week high of Rs 287 in morning deals on BSE

BSE Sensex was up 92 points or 0.16 per cent to 58,339, while Nfty 50 index crossed 17400, rising 27 points or 0.17 per cent

BSE Sensex surged 400 points to 58,658, a new record high level in pre-opening session on Wednesday

Technically, on intraday charts, the Nifty 50 index has formed a triple top kind of formation. We are of the view that the market is still trading within the trading range and for the bulls, 17450/58500 would be the range breakout level. Above the same breakout formation is likely to continue up to 17500-17525/58700-58800. On the flip side, trading below 17350/58200 could possibly trigger intraday correction up to 17300-17275/58000-57900.

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Nifty futures were ruling at 17,418, up 27 points or 0.16 per cent on Singaporean Exchange on Wednesday, suggesting a positive start for BSE Sensex and Nifty 50. Investors will eye brent crude oil, stock-specific action, rupee movement against the US dollar and other global cues.

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Amid a raging row over the hefty taxes on petrol and diesel, the Goods and Services Tax (GST) Council will deliberate on Friday on bringing petrol and diesel under the GST regime even as it is set to sort out the vexatious issue of whether and how to compensate states for any GST revenue shortfall beyond June 2022, sources told FE.

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In overnight trade on Wall Street, US stock indices ended lower. The S&P 500 fell 25.68 points, the Dow Jones Industrial Average fell 292.06 points, and the Nasdaq fell 67.82 points.

Asian stock markets were trading lower in early deals on Wednesday. Japan’s Nikkei declined 1.05 per cent while the Topix index slipped 1.41 per cent. South Korea’s Kospi shed 0.28 per cent.

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