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Share Market LIVE: Sensex cuts some losses, still in red, Nifty regains 17,300; Bank stocks pull indices lower – The Financial Express

India VIX was above 15 levels on Tuesday.
(Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity benchmark indices opened in the green on Tuesday but soon erased all gains to trade with losses. S&P BSE Sensex was near 58,200 levels while the NSE Nifty 50 was nearing 17,350. Bank Nifty was down with losses, falling below 36,500 levels. India VIX was still above 15 levels. Tata Steel was up1% as the top Sensex gainer, followed by Asian Paints, ITC, HUL, and Titan. Axis Bank was the top drag, followed by Sun Pharma, Kotak Mahindra Bank, ICICI Bank, and Dr Reddy’s.

Troubled private airline carrier Jet Airways was up 2.5% on Tuesday morning trading at Rs 86.5 per share. The company said it was hiring again, hinting at the resumption of services soon.

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading lower on Tuesday, even as rates in global markets were firm. On Multi Commodity Exchange, gold October futures were trading Rs 33 down at Rs 47,392 per 10 gram, as against the previous close of Rs 47425. Silver December futures were ruling at Rs 65,175 per kg, down Rs 117 or 0.18 per cent. In the previous session, silver futures closed at Rs 65,292.

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Though yesterday witnessed a bit of loss in upside momentum, favoured view continues to expect a push into the 17450-505 region or more as our downside marker of 17286 was left undisturbed. For today, we would however, not wait for a level so deep to switch sides, but will instead look for inability to push beyond 17450 early in the day, or a slippage past 17350 as an early signal towards bears getting a stronger hold. We also believe that though negative divergences are still present, candlestick patterns do not suggest a collapse.

~ Geojit 

Sensex and Nifty erased opening gains, minutes into the day’s trade. Sensex slipped over 100 points, while Nifty 50 was nearing 17,350 mark. 

India VIX, the volatility gauge, was inching higher on Tuesday morning. Often called the fear gauge of domestic markets, India VIX continues to hit above 15 levels. 

Domestic benchmark indices BSE Sensex and NSE Nifty 50 opened in the positive territory on Tuesday morning. Broader markets outperformed. Bank Nifty was dancing between gains and losses.

Benchmark Indices are expected to open on a flat note as suggested by trends on SGX Nifty. US stock and bond markets were shut yesterday on account of Labour Day. In the last trading session Nasdaq ended at a new peak but the other main US indices fell, reflecting the mixed sentiment arising from a disappointing US jobs report. Asian market off to a positive start with Tokyo stock trading higher on hope of new economic stimulus under a future Japanese prime minister. Overall, Indian indices are seen in positive territory with regular foreign capital inflows, strong domestic data and cumulative COVID-19 vaccination coverage inching closer towards 70 crores. On the technical front, 17450 may act as immediate resistance for Nifty 50 followed by 17,500 while 17,100 remains a crucial support for Nifty 50.

~ Mohit Nigam, Head – PMS, Hem Securities 

Sensex was still in the green but down from its initial pre-open high. Nifty 50 was below 17,400 levels. 

Sensex was up 200 points in the pre-open session while Nifty 50 was hovering around 17,400. 

Nifty futures were trading flat in the morning session, hinting at a flat opening for BSE Sensex and Nifty 50 on Tuesday. Amid mixed Asian cues, Indian share markets may trade sideways today. Stock-specific development, COVID-19 updates, oil prices, FIIs activity, rupee movement against US dollar and other global cues will set the market tone.

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“Nifty is expected to open flat, around yesterday’s close at 17390, up by 10 points. Yesterday Nifty traded in a narrow range of 50 points,  above yesterday’s high Nifty can see a sharp move to 17480. Nifty may see some resistance in 17425 and 17480 range. Nifty has support in 17250 and 17300 range. Overall Nifty is very bullish and may see 17500 in the next few trading sessions.” Gaurav Udani, CEO & Founder, ThincRedBlu Securities.

“Markets are steadily inching higher, tracking favourable global markets and supportive domestic sentiment.  We may see some consolidation ahead and it would be healthy however there’ll be no shortage of trading opportunities on the stock-specific front. Considering the recent momentum, it’s prudent to look for strong counters to accumulate on dips,” said Ajit Mishra, VP – Research, Religare Broking.

Nifty futures were trading 15 points down at 17,404 on Singaporean Exchange, suggesting a lower start for BSE Sensex and Nifty 50 on Tuesday. In the previous session, S&P BSE Sensex closed at 58,296, gaining 0.29% while NSE Nifty 50 ended the day at 17,377 or up by 0.31%. The market continued its positive momentum and mirrored the upmove in other global markets. Analysts say that the Nifty is still maintaining a higher bottom formation which is broadly positive.

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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of petrol and diesel were left unchanged on Tuesday by oil marketing companies for the second day straight. Today, petrol in the national capital costs Rs 101.19 per litre, while diesel in the capital city is retailing at Rs 88.62 per litre. The previous cut in Petrol and diesel prices came on September 5 when prices were cut by 15 paise. So far this month, prices have been reduced twice, cutting the price by 30 paise. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.

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Before anyone could realise, we have conquered 17400 as well. The rally has been steady in nature but the kind of elevated levels we have reached now, it’s too fast too furious. Hence, although the trend is extremely strong, we remain a bit sceptical and continue to advise booking profits in the rally at least with a short term view. As far as levels are concerned, 17450 – 17500 would be seen as immediate hurdles and the moment we slide below 17340, we may see some decent profit booking towards 17250 – 17200.

~ Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking

A consortium of lenders is yet to receive any bids for the sale of debt-laden Videocon group’s energy business, even though a couple of firms had expressed interest earlier. Following this, the Committee of Creditors (CoC), led by SBI, has decided to extend the deadline for Videocon Oil Ventures’ (VOVL’s) resolution process till September 30, sources close to the development said.

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Sebi on Monday barred total 85 entities, including Sunrise Asian Ltd, from the capital markets for up to one year for manipulating the company’s share price. In its order, the regulator restrained Sunrise Asian and its then five directors from the capital markets for one year and the 79 connected entities for six months.

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