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Share Market Live: Sensex sets new high above 61900, Nifty tops 18500 amid technical issues on BSE, CDSL – The Financial Express

India VIX was up in the green on Monday. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets started Monday’s trading session at fresh all-time highs amid mixed global cues. S&P BSE Sensex breached the 61,800 mark while the NSE Nifty 50 was hovering around 18,500. Bank Nifty was up 1%, crossing 39,700. Broader markets were mirroring the up-move. Infosys was the top gainer on Sensex, up 2%, followed by Tata Steel, Titan Company Limited, and HDFC Bank. Asian paints was down as the worst-performing stock on Sensex, falling 1%. It was followed by Bajaj Auto, Dr Reddy’s, and HDFC.

Radhakishan Damani’s Avenue Supermarts reported a strong 110% rise in net profit in the July-September quarter but failed to impress investors as the stock tumbled 4% on Monday morning. Analysts too were unimpressed advising investors to sell the stock, predicting downside potential and extremely expensive valuations. DMart share price initially hit a high of Rs 5,899 apiece but soon slipped from the highs and was sitting near an intra-day low of Rs 5,105 per share. So far this year, DMart’s share price has galloped a whopping 85%.

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Technical glitch on CDSL has now marred trading for users of Zerodha, Groww, Upstox, and IIFL Securities on Monday. Investors took to Twitter to vent their anger and complain of lost profits.

Sensex crossed 61900 for the first time ever to scale a fresh all-time high on Monday. Nifty was above 18500

Bajaj Auto was down 1.38% as the worst-performing stock on Sensex on Monday morning. It was followed by Asian Paints and Dr Reddy’s, all down more than 1%.

Users of ICICI Direct complained of facing trouble while attempting to log in to their account on Monday morning. ICICI Direct said the issue was restricted to some users and has since been resolved. 

Apart from Zerodha, technical issues at CDSL spoiled morning trade for users of Groww as well. Investors were unable to sell their holdings as CDSL servers failed to facilitate TPIN autorisations.  

Bombay Stock Exchange Website was working at snail’s pace on Monday morning, impairing investor’s morning trade. Investors took to Twitter to vent out their frustration.  

Zerodha users were unable to sell shares on Monday morning as issues with CDSL marred their trading. To dodge the issue, Zerodha allowed users to skip CDSL authorisation if they sell holdings. 

India’s largest brokerage firm Zerodha was facing issues on Monday morning as CDSL was down. ‘You may face an issue with authorizing the sale of your stocks due to an issue with CDSL. We are in touch with CDSL to have the issue resolved at the earliest,’ the company said on Twitter. 

We achieved the 18400 level! This is the second pit stop we were aiming for post 18250. If we can close above 18400, the Nifty will aim for 18600 and then 18900 as the next two target levels. The weekly support has been updated to 18200 and as long as we do not disrespect this level, we are headed higher and all dips can be utilized to accumulate long positions,Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

Tata Power skyrockted more than 13% on Monday morning to trade at Rs 252 per share as benchmark indices were soaring higher. 

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India VIX, the volatility gauge, jumped 8% as Sensex and Nifty touched all-time highs on Monday morning. 

On the weekly chart, the Nifty 50 index has formed a long bullish candle forming a higher High-low compared to the previous week and has closed above the previous four weeks’ high, indicating positive bias. The index is moving in a Higher Top and Higher Bottom formation on the weekly chart indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above the 18400 level it would witness buying which would lead the index towards 18500-18800 levels. However, if the index breaks below the 18050 level it would witness selling which would take the index towards 17800-17600.

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“On the technical front, Benchmark Indices had gained for six consecutive sessions and last week’s move is a consolidation breakout and we believe markets may continue this bull run. Immediate support and resistance in Nifty 50 are 18,200 and 18,500 respectively,” said Mohit Nigam, Head – PMS, Hem Securities.

Tata Steel was up 1.92% as the best performing Sensex constituent on Monday morning, followed by Infosys, Titan, and Nestle. 

Domestic markets opened at all-time highs on Monday morning amid mixed global cues. Bank Nifty was above the 39,600 mark. Volatility soared higher.

Sensex extended gains to 500 points while Nifty 50 touched 18500 during the pre-open session on Monday morning. 

“Nifty is expected to open positive at 18430 up by 90 points. Nifty has support at 18300 and 18170 levels. Nifty is in a bullish trend and traders can consider buy on dips with strict stoploss for 18480 and 18540 as targets.“- said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.

Sensex jumped 400 points during the pre-open session while Nifty 50 was nearing 18,500 as domestic markets looked set to open in the green. 

On the options front, maximum Put OI for 28th Oct series is at 17500 strike price with 29 lakh shares followed by 18000 & 17000 strike price. Meanwhile, maximum Call OI for 28th Oct series is at a 18500 strike price with 19 lakh shares followed by 18000 & 19000 strike price.

The short-term outlook is bullish and a rise above 18550-18600 will open doors to test the psychological resistance level of 19000. The Nifty maximum concentration among weekly Nifty put options has shifted higher to 18200 from 18000 on Thursday, while among call options, 18500 strike from 18200. This broadly suggests they expect the Nifty to rise above 18500 and do not expect the index to fall below 18200.

~ Raushan Kumar, Derivative Analyst, IIFL Securities

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of petrol and diesel were left unchanged by oil marketing companies on Monday after four days of successive price hikes. Petrol in the national capital today costs Rs 105.84 per litre, while Diesel in the capital city is retailing at Rs 94.57 per litre. Petrol and diesel rates have increased 13 times so far in October. 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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“In the coming week, the domestic market awaits the release of quarterly earnings to determine the market trend. Banking will be the key sector under focus in the coming days as the sector is set to kickstart its earnings season. With the expectation of a strong recovery in corporate earnings, the Indian market is positioned to continue its bull run. However, any deviation from market expectation may lead to short-term correction in the respective segments,” said Vinod Nair, Head of Research at Geojit Financial Services.

China’s economic growth sank in the latest quarter as a slowdown in construction and curbs on energy use weighed on its recovery from the coronavirus pandemic. The world’s second-largest economy grew by 4.9% over a year ago in the three months ending in September, down from the previous quarter’s 7.9%, government data showed Monday. Factory production, retail sales and investment in construction and other fixed assets all weakened.

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Commodity prices traded higher with most of the commodities in the non-agro segment rallied during the week supported by a weaker dollar. Bullion prices traded higher on inflation worries while crude oil prices rallied on higher demand and lower supply concerns. Base metals traded higher with Zinc gaining nearly 20% for the week on supply disruptions due to power shortages.

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“The nifty 50 index formed a big bullish candle and closed last week at a new all-time high. The bullish sentiment is at its peak which is usually considered unfavourable for creating new long positions. The benchmark index is also approaching the rising resistance line, which indicates a limited upside potential in the short term. We suggest traders to not create fresh longs positions and wait for mild dips to time their entry better. The immediate support on the downside is now placed at 17850,” Yesha Shah, Head of Equity Research, Samco Securities.

Asian shares were on edge on Monday morning ahead of the release of Chinese economic data for the third quarter, as investors fret about the health of the world’s second-largest economy even as U.S companies report strong quarterly earnings. Oil prices hit new multi-year peaks, continuing their recent surge amid a global energy shortage, with U.S. crude at a fresh seven-year high and Brent at a three-year high.

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SGX Nifty was up in the green, gaining 36 points during the early hours of Monday. SGX Nifty was hinting at a flat to positive start to the day’s trade. 

Read throughs, from the results statements trickling in, suggest the economy was certainly getting back on track in the three months to September though all businesses were not back at pre-pandemic levels.

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