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Share Market LIVE: Sensex moves between gains and losses, Nifty holds above 18050; M&M, Tata Steel gain – The Financial Express

While the Nifty FMCG index fell 0.2 per cent. Image: Reuters

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading in the green on Tuesday. BSE Sensex was hovering 60,600, while NSE Nifty jumped above 18,100. M&M, IndusInd Bank, Larsen & Toubro, Sun Pharma, Bajaj-Auto, Tata Steel, Tech Mahindra, Tata Consultancy Services were top Sensex gainers. Power Grid Corporation of India, Nestle India, HDFC Bank, Housing Development Finance Corporation (HDFC), Asian Paints, UltraTech Cement, Titan were top index losers. Bank Auto gained 1.4 per cent, while Nifty IT, Nifty Pharma, Nifty Healthcare indices soared up to 1 per cent. While the Nifty FMCG index fell 0.2 per cent.

India’s largest initial public offering of the shares of One97 Communications, the parent company of Paytm, was subscribed 18% on the first day, having received bids for 88.23 lakh equity shares against 4.83 crore shares offered, data from exchanges showed on Monday.

Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India remained unchanged on Tuesday, on the back of flat global rates. On Multi Commodity Exchange, gold December futures were trading weak at Rs 48,009 per 10 gram, while silver December futures were ruling at Rs 64,774 per kg, down Rs 107. Globally, yellow metal prices remained steady, consolidating near a two-month high scaled in the previous session, as a weak dollar offset firm U.S. bond yields. Spot gold was little changed at $1,823.53 per ounce. US gold futures fell 0.1% to $1,825.80.

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The return of foreign capital into India’s bucket and a broad dollar weakness post a dovish Fed has remained supportive of the rupee. In the past sessions, the rupee majorly appreciated on back of inflow on account of Paytm’s IPO for Rs 18000cr. The flow story to continue with Sapphire food IPO Rs 2000cr, Latent View Analytics Rs 600 cr, and Route Mobile QIP of Rs 1000cr likely to hit markets. That apart, better PMI numbers of manufacturing and service activities indicate economic conditions are improving despite lingering concerns over oil prices, thereby boosting the positive sentiments. Technically, the pair gains strong support near 73.80 levels. However, on the back of IMF’s suggestion of lower interventions to India’s Central bank, it will be watchful if RBI jumps in or let the rupee flow through the market. Till the pair holds above 73.80 levels, we might see a rupee in a range of 73.80-74.50 levels. Amit Pabari, managing director, CR Forex Advisors

The index has opened on a positive note: it is keeping well above the 18000 resistance. If we can sustain this for today, buy signals would allow the Nifty to scale higher to 18400 and then to 18600. A good base formation has taken place at 17600 and until that is not disrespected, we are in positive territory. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

Power Grid Corporation of India, Nestle India, HDFC Bank, Housing Development Finance Corporation (HDFC), Asian Paints, UltraTech Cement, Titan were top index losers

M&M, IndusInd Bank, Larsen & Toubro, Sun Pharma, Bajaj-Auto, Tata Steel, Tech Mahindra, Tata Consultancy Services were top Sensex gainers

BSE Sensex turned green, after opening in red on Tuesday. BSE Sensex was trading 45 points up at 60,590. While NSE Nifty was nearing 18100

Nifty futures added fresh long positions while Bank Nifty shed OI indicating short-covering plus exit of weak hands. The fortress of 18,000 Call writers was challenged and 18200 now has meaningful OI. Good Put writing was seen at 17900 and 18000 strikes. Rahul Sharma, JM Financial Services

Comex gold is trading at its resistance level of $1830 where it has support at $1815. Gold and Silver prices remained firm due dovish outlook of the FED. US infrastructure bill has increased the expectation of more spending which may boost inflation. On the other hand, FED intact its previous outlook on bond tapering and interest rate hikes which supported the Gold and Silver prices. The dollar index was also unable to sustain above 94.50 levels and it slipped 0.30% yesterday. In MCX, Gold has resistance at 48300 above this level it may test 48600-48800 levels. It has support at 47300. Abhishek Chauhan, Head of Commodity & Currency, Swastika Investmart

Nifty is expected to open flat around yesterday’s close at 18070. Yesterday Nifty closed around its 20 periods moving average. Any closing above 18100 with higher volumes may take Nifty to 18250 levels. 18050 to 18100 may act as a resistance zone while 17950 and 17800 will act as support levels. Gaurav Udani, CEO & Founder, ThincRedBlu Securities

On the technical front, 39350 and 40,000 are near-term support and resistance respectively for Bank Nifty. 39700 would be the next intraday breakout level for the day traders and above this level, the uptrend momentum will continue up to 40,000-40,100. More strength in the index can be expected only on a close above 40100 levels. If prices continue to sustain above 40100-40050, a bullish trend may resume soon towards 42000 followed by 42500. Aprajita Saxena, Research Analyst at Trustline Securities

If Nifty is able to sustain above 18,000-18050 levels the Index can move towards 18250-18400. On the upside, 18,600 will be the level to watch in the coming week. If the prices breach above this level, the index can move towards the 18,850-19,000 mark. The momentum indicators like RSI and MACD are also indicating positive momentum in the market. Aprajita Saxena, Research Analyst at Trustline Securities

The short term trend of Nifty is positive. Upside breakout of the current range at 18060-18100 levels could open further upside towards the next resistance of 18250-18350 levels in the next few sessions. Immediate support is placed at 17850. Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities

Nifty advanced for the second straight day with higher volumes and a positive advance-decline ratio. A move above 18115-18125 band could lead to more upsides while 17947-17970 is a support band for the Nifty in the near term. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty futures turned red in early trade, falling 12.50 points to 18,125 on Singaporean Exchange, suggesting a weak start for BSE Sensex and Nifty 50. Investors will watch Q2 earnings, foreign fund inflows, oil prices, rupee movement, and other global cues. Analysts say that markets will take direction from a number of macro events due this week including U.S. inflation data and the U.K. GDP data apart from various Federal Reserve speeches.

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The benchmark indices staged a sharp recovery on Monday, led by advances in technology, automobile and financial stocks. The Sensex jumped 477.99 points to close at 60,545.61, while the Nifty added 151.75 points to 18,068.55. However, the Bank Nifty dragged the markets amid selling pressure in the private banking counters. The index closed 135.45 points or 0.34% lower at 39,438.25. The market’s fear gauge, Volatility Index India (VIX), rose 3.75% to 16.34.

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India’s biggest-ever public issue, Paytm IPO, which opened for subscription, received an 18 per cent application on day one of the bidding process. The issue received bids for 85.81 lakh equity shares against an offer size of 4.83 crore shares so far on the first day of bidding. The portion reserved for retail investors saw 73 per cent subscription, while the reserved portion of non-institutional investors was subscribed just 2 per cent, and qualified institutional buyers have put in bids for 16.78 lakh shares against 2.63 crore shares reserved for them. Their portion was subscribed 6 per cent.

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In overnight trade on Wall Street, the Dow Jones Industrial Average rose 104.27 points, or 0.29%, to 36,432.22, the S&P 500 gained 4.17 points, or 0.09%, to 4,701.7 and the Nasdaq Composite added 10.77 points, or 0.07%, to 15,982.36.

Asian peers were seen trading in green, following overnight gains on Wall Street that took the major indexes to record closing highs. Japan’s broader Nikkei 225 gained 0.13% while the Topix index traded in the red. Hong Kong’s Hang Seng index traded 0.63% higher. South Korea’s Kospi shed 0.2%. In Australia, the S&P/ASX 200 fell 0.17%

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