Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets started the weekly futures and options expiry session with gains amid positive global cues. S&P BSE Sensex zoomed on the opening bell to regains 59,300 while the NSE Nifty 50 crosses 17,650. Bank Nifty was up in the green, comfortably breaching the 37,000 mark. Broader markets were trading in the green. Tata Steel was up 1.89% as the top Sensex gainer, followed by Axis Bank, SBI, and Reliance Industries. Titan was the worst performer, down 0.18%, accompanied by TCS and Tech Mahindra as the only three laggards. India VIX was down in red.
All the top six gainers on BSE Sensex on Thursday morning were stocks from the banking and finance sector. Axis bank was the top gainer, jumping 2.73%, followed by Bajaj Finserv, SBI, IndusInd Bank, ICICI Bank, and HDFC Bank.
“On the technical front, market is witnessing a range bound movement and it has sustained well above 17,400-450 levels and we believe this up move will extend till 17650 level in the short term. On the downside 17,200 is the immediate support in Nifty 50 followed by 16,900,” said Mohit Nigam, Head – PMS, Hem Securities.
Domestic equity benchmark indices started Thursday’s session in the positive territory. India VIX falls 4%. Bank Nifty was comfortably above 37,000.
Sensex was above 59,300 while Nifty was just shy of 17,700 at the end if the pre-open session on Thursday.
Sensex regained 59,300 during the pre-open session on Thursday while Nifty 50 was above 17,600 and closing in on 17,650.
“Bank Nifty futures saw fresh addition of 3.5% while Nifty Futures saw a closure of 1.4%. 17,600 straddle witnessed maximum buildup of positions while Bank Nifty witnessed heavy addition in 37,000 calls,” said Rahul Sharma, Direct & Head – Research, JM Financial.
BSE Sensex and Nifty 50 were set to open higher on the day of weekly F&O expiry, as indicated by trends on SGX Nifty. Analysts say that the short term uptrend remains intact and the market is now taking a breather before showing further upside. “The overall chart pattern of daily and weekly indicate a possibility of range-bound action in the next 1-2 sessions before showing further upside. The crucial overhead hurdles are placed at 17625 and 17790 levels and immediate support is placed at 17445 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.
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Nifty has recently corrected from a high of 17793 seen last Friday. The index however found support at lower levels and managed to hold above the crucial short term trend reversal levels of 17254. The bounce-back seen on Tuesday led to the Nifty closing above the 20 and 50 period MA on the 15 min chart, indicating that the very near term trend has turned positive.
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Nifty index opened positive yesterday and surpassed its previous day’s high but comparatively moved in a narrow range. It remained consolidative for the most part of the day and saw slight weakness in the concluding hour. It formed a small-bodied Bearish candle on the daily scale and closed flattish but was hovering near to the highs of the previous session. Now it has to continue to hold above 17500 zones, for an up move towards 17650 and 17777 zones whereas support is placed at 17350 and 17272 zones.
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Nifty futures were trading 105 points or 0.60 per cent higher at 17,658 on Singaporean Exchange, suggesting a strong opening for BSE Sensex and Nifty 50 on the day of weekly F&O expiry. In the previous session, BSE Sensex settled at 58,927, down 78 points or 0.13 per cent while the NSE Nifty 50 closed at 17,546, slipping 15 points or 0.09 per cent. Analysts say Nifty remains in a medium-term uptrend for targets of 18000 and above; any meaningful correction is a good opportunity to buy. “Support for the September series is seen at 17325 while resistance is expected at 17600-177700 levels. Breach of 17325 on the closing basis is expected to result in selling pressure to sub 17000 levels,” Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities, said.
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Paras Defence and Space Technologies IPO will close for subscription today. So far the IPO has been subscribed a massive 40.57 times with retail investors bidding for their portion of the issue 68.57 times. All categories of investors have oversubscribed their respective portions.
SGX Nifty was up 100 points ahead of the opening bell, signalling a strong start for domestic equity markets.
US Federal Reserve’s has said it could start tapering as early as November this year and could also hike interest rate sooner than expected. Fed Chair Jerome Powell said that Fed could start rolling back the monthly bond-buying in November and end it in mid 2022. The Federal Reserve has trimmed US GDP projections on account of another Covid wave.