Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets were trading with losses on Wednesday morning. S&P BSE Sensex was down 50 points, hovering around 58,250 while NSE Nifty 50 was down 11 points near 17,350. Broader markets were outperforming benchmark indices. Nifty Midcap 50 and the Smallcap 50 were trading with gains. Nifty Bank was 0.40% higher. India VIX was down with marginal losses. Bharti Airtel was up 1.6% as the top Sensex gainer, followed by IndusInd Bank, NTPC, Axis Bank, and ICICI Bank. Power Grid was the top drag on Sensex, down 1.07%, followed by Infosys, Maruti Suzuki India, Bajaj Auto, and HCL Tech.
Bank Nifty was up 0.90% on Wednesday while Sensex and Nifty were dancing between marginal gains and losses. The banking index was just shy of 36,800.
Shriram City Union Finance is part of the Shriram group and is in the high margin business of lending to small businesses which account for 57.3% of the loan book as of end FY20. The company posted a good set of number s for the quarter due to positive surprise on the asset quality front. It reported a strong 50% sequential growth in disbursement for the quarter which led to a 3.7% qoq growth in AUM to ~ Rs. 28,500 crore. We are positive on the company as we believe that the worst is over in terms of asset quality which along with positive growth momentum should lead to a rerating for the company.
Target price – Rs 3,002Upside – 27%
“Nifty faces resistance in the zone of 17450-17,500. Support is at 17,290. Bank Nifty remains sluggish below 37,000 with broad support at 36,00/36,200,” said Rahul Sharma, Director & Head – Research, JM Financial.
Buy | Target: Rs 735
In week ended 30th of Jul’21, the Bharti Airtel stock witnessed bullish breakout from flag pattern. Later, the stock extended gain with relatively higher volume (trading as well as delivery). After a pullback, the stock resumed its prior up-move. Today, the stock recorded new high of Rs 683.80. In the current maturity (Sep’21 expiry), the stock reported a ~15% gain so far. A jump in price and rise in open interest indicates major participants are in favour of the bulls. Its long-term moving averages are slopping upwards and worked as key reversal point in case of major decline. The key technical indicators are positively poised on medium-term as well as long-term timeframe chart. This could take the stock towards Rs735, which coincides with its probable target based on flag breakout. Jatin Gohil, Technical Analyst at Reliance Securities
Buy | Target: Rs 735
In week ended 30th of Jul’21, the Bharti Airtel stock witnessed bullish breakout from flag pattern. Later, the stock extended gain with relatively higher volume (trading as well as delivery). After a pullback, the stock resumed its prior up-move. Today, the stock recorded new high of Rs 683.80. In the current maturity (Sep’21 expiry), the stock reported a ~15% gain so far. A jump in price and rise in open interest indicates major participants are in favour of the bulls. Its long-term moving averages are slopping upwards and worked as key reversal point in case of major decline. The key technical indicators are positively poised on medium-term as well as long-term timeframe chart. This could take the stock towards Rs735, which coincides with its probable target based on flag breakout. Jatin Gohil, Technical Analyst at Reliance Securities
Buy | Target: Rs 735
In week ended 30th of Jul’21, the Bharti Airtel stock witnessed bullish breakout from flag pattern. Later, the stock extended gain with relatively higher volume (trading as well as delivery). After a pullback, the stock resumed its prior up-move. Today, the stock recorded new high of Rs 683.80. In the current maturity (Sep’21 expiry), the stock reported a ~15% gain so far. A jump in price and rise in open interest indicates major participants are in favour of the bulls. Its long-term moving averages are slopping upwards and worked as key reversal point in case of major decline. The key technical indicators are positively poised on medium-term as well as long-term timeframe chart. This could take the stock towards Rs735, which coincides with its probable target based on flag breakout. Jatin Gohil, Technical Analyst at Reliance Securities
Bharti Airtel share price rose 2% to hit a new high of Rs 684 apiece in intraday deals on Wednesday, ahead of the Cabinet meet scheduled later today. Similarly, Vodafone Idea shares surged 7.5 per cent to Rs 8.90 apiece. The Union Cabinet is expected to take up the department of telecommunications’ (DoT’s) proposal for offering a relief package to the telecom industry at its meeting on Wednesday, sources told the Financial Express.
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Oravel Stays Pvt Ltd, which operates hospitality firm OYO, has approved an increase in the authorised share capital of the company from Rs 1.17 crore to Rs 901 crore, according to a regulatory filing by the hospitality firm. The development comes ahead of proposed initial public offering (IPO) by OYO, for which a draft red herring prospectus (DRHP) is likely to be filed in the next few months, sources in know of the matter told PTI. An extraordinary general meeting of Oravel Stays Pvt Ltd (OYO), on September 1, approved the resolution to increase its authorised share capital, as per a Registrar of Companies (RoC) filing by the company.
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Sansera Engineering’s Rs 1,283 crore IPO (initial public offering) will open next week for subscription, bringing the IPO fever back to Dalal Street. The auto component manufacturer’s IPO will entirely be an offer for sale by existing shareholders and won’t consist of a fresh issue of equity shares. Sansera Engineering IPO’s price band has been fixed at Rs 734-744 per equity share. The issue will open on Tuesday, 14 September, and will remain open for investors to subscribe to till Thursday, 16 September. Sansera Engineering had filed its Draft IPO papers with SEBI in June this year and received the market regulator’s nod in the first week of August.
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“USDINR could not break 72.95 and has again started rising. For the moment importers to take a back seat and exporters to keep selling the good uptics as importers will again get a chance to buy $. Euro and GBP have fallen a bit and not able to sustain higher levels. Asian currencies have also fallen from their recent highs. Equities still on the higher side but may fall in the next few days. Range for $ 73.40 to 73.70 with an opening around 73.50,” said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.
India VIX, the volatility gauge of domestic markets, was down with losses on Wednesday. India VIX has slipped below 15 levels now.
The Crypto market is too big to ignore. Consider some numbers: The global crypto market cap as of today is USD 2.12 trillion, according to CoinMarketCap. In India, the cryptocurrency market grew from USD 923 million in April 2020 to a staggering USD 6.6 billion in May 2021, which is an average of 50% per month. Over 1.5 crore Indians are already invested in crypto, according to blockchain data platform Chainalysis.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India gained on Wednesday, even as rates in global markets remained steady. On Multi Commodity Exchange, Gold October futures were trading Rs 72 or 0.15 per cent up at Rs 47,011 per 10 gram, as against the previous close of Rs 46,939. Silver December futures were up just Rs 29 at Rs 64650 per kg. In the previous session, silver futures closed at Rs 64621. Globally, yellow metal prices steadied after slipping 1.6 per cent in the previous session when it breached the key psychological level of $1,800, as gains in the dollar and a rise in US Treasury yields hurt bullion’s appeal. Spot gold rose 0.1% to $1,796.03 per ounce, hovering slightly above the more than one-week low of $1,791.90 hit on Tuesday. US gold futures were steady at $1,799.40.
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Asian markets off to a mixed start with Tokyo stock trading lower as investors sought to lock in profit after the recent rallies seen in the market. We can see some movement in EID Parry today as the company board has approved the setting up of a 120 KLPD Grain/Sugar Syrup/Molasses-based Distillery at the Company’s Sankili unit in Andhra Pradesh. Overall Indian indices look on a positive territory with regular foreign capital inflows, strong domestic data. 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,” said Mohit Nigam, Head – PMS, Hem Securities
Sensex rebounded from lows to move back into the positive territory. Nifty 50 was above 17,370.
Domestic equity benchmark indices began Wednesday’s trading session flat. Bank Nifty was up in the green. India VIX was down with losses.
Sensex and Nifty trimmed pre-open gains to trade flat with positive bias. Sensex was just shy of 58,400 while the NSE Nifty 50 was still holding above 17,360.
Sensex regained 58,400 in pre-open session on Wednesday while Nifty 50 was just above 17,360.
BSE Sensex and Nifty 50 were eyeing a positive start on Wednesday, a day before weekly F&O expiry, as suggested by trends on SGX Nifty. In the early trade, Nifty futures were trading 39.50 points or 0.23 per cent up at 17,418.50 on Singaporean Exchange. A host of factors such as Cabinet meeting, T+1 settlement cycle for completion of share transactions, stock-specific action, oil prices, rupee movement and other global cues will be among guiding factors for Indian stock market.
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“Nifty is expected to open positive at 17410, up by 40 points. Nifty is in a strong bullish trend and we may see levels of 17480 and 17520 in the next few trading sessions. 17300 and 17250 are strong support for Nifty. Buying on dips with strict stop loss loss can be a good strategy in the current markets,” said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of petrol and diesel were left unchanged for the third consecutive day on Tuesday 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 cut by 15 paise. So far this month, prices have been reduced 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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After the 800/2840 points rally, the indices are trading within a narrow range, which indicates bulls may start feeling discomfort to go further long near 17450. But technically, a short term correction if possible only below 17290/58000. For the next few trading sessions, 17290/58000 should act as a trend decider level, above which we can expect one more uptrend wave towards 17450-17500/58550-58700. However, trading below the same would trigger quick intraday correction up to 17250-17210/57700-57500.
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Nifty futures were trading 58 points or 0.33 per cent up at 17437 on Singaporean Exchange on Wednesday, indicating a gap-up start for BSE Sensex and Nifty 50. In the previous session, BSE Sensex slipped 17 points to end at 58,279. Nifty 50 was down 15.7 points on closing bell settling at 17,362. Analysts say that the market seems to have shifted into a consolidation mode with range bound action.
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Nifty had a larger high-low range on Tuesday compared to the previous day. However, the close was not too different. As US markets were shut on Monday, global stocks are finding it difficult to find cues and hence direction. Post resumption of US markets on Tuesday, we may see higher volatility and close on close change on Wednesday. The advance-decline ratio again dipped too much below 1:1 worrying investors and dampening volumes.
~ Deepak Jasani, Head of Retail Research, HDFC Securities
SGX Nifty was trading 50 points higher on Wednesday morning, hinting at positive momentum buildup ahead of the day’s trade.
The settlement option for security will be applicable to all types of transactions in the security on that stock exchange. For example, if a security is placed under T+1 settlement on a stock exchange, the regular market deals as well as block deals will follow the T+1 settlement cycle on that bourse.
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