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Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market indices BSE Sensex and Nifty 50 were trading weak on Monday, mirroring the global markets. BSE Sensex was hovering around 58,050, while the Nifty 50 index gave up 17,350. HCL Tech, Reliance Industries Ltd (RIL), ICICI Bank, Nestle India, Infosys, Tech Mahindra, Bajaj Finance were among the top BSE Sensex losers. Housing Development Finance Corporation (HDFC), Maruti Suzuki, Tata Consultancy Services (TCS), Tata Steel, Bajaj Auto, Bharti Airtel were among BSE Sensex leaders.
Except for Nifty Media, Nifty Metal and Nifty Realty, all the sectoral indices were trading in the negative territory. Bank Nifty fell over half a per cent to 36483.
The outlook for increased manufacturing activities in the second quarter of this fiscal has been significantly improved, though the cost of doing business and production is rising, according to a survey by industry chamber FICCI. As per FICCI’s latest quarterly survey (Q2) on manufacturing, industry respondents have attributed the hike in production costs primarily to high fixed costs, higher overhead costs for ensuring safety protocols, and a drastic reduction in volumes due to lockdown.
The markets opened on a soft note this morning. This does not come as a surprise considering the sharp run up with no correction. The support for the Nifty is currently at 17250 and has long as that holds, traders can consider a buy on dips approach for a target of 17450. There is every possibility the Nifty also becomes sideways and trades within this range of 17250-17450. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
The central bank’s competent move to keep the Rupee in a tight range and also keep the exporter’s interest intact suggests that the bottom for the USDINR pair is likely to remain limited upto 73.00 mark. Any up move on account of stronger USD and importer’s buying could be limited upto 74-74.20 levels as inflows will start dominating over weaker currency value. Overall, the expected short-term range for the pair is 73.00 to 74.20 zone. Amit Pabari, managing director, CR Forex Advisors
Structurally, our broader positive stance is intact with Nifty gradually heading to 17600 in September 2021 as it is the price parity of July-August rally (15515-16700), projected from mid-August low of 16376. Sectoral churn amid consolidation would make overall strength healthy going ahead.
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Commodity prices traded mixed with most of the commodities in non-agro segment extended gains for the week except bullion. Bullion prices traded lower on stronger dollar and FED tapering expectations. Base metals gained on strong demand outlook with unchanged ECB policy and supply concerns. Crude oil prices extended weekly gains on slower than expected output recovery while the region is facing another hurricane threat.
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Except for Nifty Media, Nifty Metal and Nifty Realty, all the sectoral indices were trading in the negative territory. Bank Nifty fell over half a per cent to 36483
Housing Development Finance Corporation (HDFC), Maruti Suzuki, Tata Consultancy Services (TCS), Tata Steel, Bajaj Auto, Bharti Airtel were among BSE Sensex leaders
HCL Tech, Reliance Industries Ltd (RIL), ICICI Bank, Nestle India, Infosys, Tech Mahindra, Bajaj Finance were among top BSE Sensex losers
BSE Sensex fell 173 points or 0.30 per cent to 58,132. while Nifty 50 index gave up 17350, fallinf 41 points or 0.24 per cent
If the Nifty 50 breaks below 17300 level it would witness selling which would take the index towards 17200-17100. Nifty is trading above 20 and 50 day SMAs indicating positive bias in the short to medium term. Nifty continues to remain in an uptrend in the medium and long term, so buying on dips continues to be our preferred strategy.
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Nifty 50 has been trapped within a very narrow range and has formed four small candles during the last four trading sessions, which can be indicated as a spinning top formation or indecision on the daily time frame. Since July 28, the benchmark index is trading in a rising channel pattern and continues to trade in a higher top higher bottoms formation. On September 6, prices register their lifetime high of 17429 and are capped under the upper band of the rising channel pattern on the daily interval.
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Nifty futures were trading 84 points or half a per cent down at 17,356.50 on Singaporean Exchange on Monday. In the previous session, Sensex closed 54.81 points higher at 58,305 while Nifty 50 added 15 points to end at 17,369. Investors will keep a close tab on rupee-dollar trend, Brent crude and Foreign institutional investors (FIIs) movement. Analysts say valuations are also moving beyond comfort zones and hence could lead to bouts of profit booking and increase in volatility. “But the overall sentiment in the domestic market remains positive, supported by improving economic data and positive earnings expectation,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd, said.
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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of petrol and diesel were left unchanged for the eighth consecutive day on Monday by oil marketing companies. Petrol in the national capital today 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 reduced by 15 paise. So far this month, prices have been decreased twice, trimming the rate 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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The outlook for increased manufacturing activities in the second quarter of this fiscal has been significantly improved, though the cost of doing business and production is rising, according to a survey by industry chamber FICCI. As per FICCI’s latest quarterly survey (Q2) on manufacturing, industry respondents have attributed the hike in production costs primarily to high fixed costs, higher overhead costs for ensuring safety protocols, and a drastic reduction in volumes due to lockdown.
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In overnight trade on Friday, US stocks indices ended in red. The S&P500 fell 34.70 points to 4,458.58. The Dow Jones Industrial Average lost 271.66 points to 34,607.72. The tech-heavy Nasdaq composite dropped 132.76 points to 15,115.49.
Asian stock markets were trading lower in early trade on Monday. Japan’s Nikkei edged 0.25 per cent lower while the Topix index shed 0.16 per cent. South Korea’s Kospi fell 0.22 per cent.
Domestic equity benchmark indices enter this week’s trading session after having moved marginally higher during the previous week. S&P BSE Sensex currently sits at 58,305 while the NSE Nifty 50 is at 17,369. Midcap and smallcap indices outperformed the benchmarks with both the Nifty Midcap 50 and the Nifty Smallcap 50 zooming more than 1% each. Ahead of the first trading session of the week, SGX Nifty was down deep in red, falling 75 points and hinting at a negative opening for domestic equities. Global cues were also negative after Wall Street equity indices closed in red on Friday.
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