Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading weak on Wednesday, a day before the expiry of September futures and options contracts of Nifty and Bank Nifty. BSE Sensex was hovering around 59,165, while Nifty 50 was ruling below 17650. ICICI Bank, HDFC Bank, Bajaj-Auto, IndusInd Bank, Kotak Mahindra Bank, Housing Development Finance Corporation (HDFC) were top BSE Sensex laggards. Power Grid Corporation of India, Hindustan Unilever Ltd (HUL), HCL Tech, Sun Pharma, Tata Consultancy Services (TCS) were top BSE Sensex gainers. Nifty Bank index fell 1.3 per cent to 37,450. Nifty Auto, Nifty Financial Services indices fell up to 1.4 per cent.
Yields on benchmark bonds have risen almost 9 basis points in the last three days, tracking a sharp rise in US Treasury yields after the Federal Reserve indicated sooner-than-expected tapering of its bond purchases, and with crude oil prices hitting $80/barrel. On Tuesday, the benchmark 6.10%-2031 bond yield ended at 6.2281%, as against the 6.2087% close on the previous trading session. The yield on the benchmark bond on September 23 was hovering around 6.1397%.
The index is facing resistance at higher levels and is unable to break lower levels. This is a trading opportunity in the making! If we get past 17950, the Nifty will scale up higher to 18050. If we break 17500 on a closing basis, we could see a correction that could take us closer to 17200. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
NTPC was the top Sensex gainer, rising nearly 4 per cent in the morning deals
‘On domestic front, stock specific news shall drive momentum on select counters. Promoter of HDFC AMC plans to offer 1.06 percent of its holding at a price of Rs 2,870 apiece, Lupin launches a new medicine in US, NCLT allows Future group to hold meetings of shareholders and creditors for scheme of arrangement with RIL, Bharti Airtel’s long-term rating has been upgraded to AA /Stable from AA/Stable, Allcargo Logistics appoints Jefferies as investment banker to evaluate fund raising opportunities. On technical front, 17,600 could be seen as the nearest support for Nifty50 while near term resistance could be seen around 18,000 levels,’ said Mohit Nigam, Head – PMS, Hem Securities.
On the domestic front, equity indices are likely to remain in sync with their weaker Asian peers, following an overnight tumble on Wall Street. Nikkei, Topix, and Kospi are down by more than 1.8% in the early Asian market today. The sentiment can be seen moving towards risk-off mode and could be supportive for the dollar bulls. The hawkish comments from the Fed members and rising crude oil prices continued to support the US 10 year yield to jump above 1.55% and hence real rates too rose to the highest level since the June Fed meeting. The flow stories are likely to remain with us as month-end MSCI rebalancing and Aditya Birla IPO, Bank of India bond sale, HDFC borrowing through secured NCD could invite flows in the market. It would be interesting to watch how things for the USDINR pair unfold in the near term. The pair has given the breakout from its immediate resistance levels and is now expected to steadily move higher towards the 74.50 mark. If that is taken out then July high near 75 could be targeted. On the contrary front, the 73.90-74.10 zone is likely to act as a key support level. Amit Pabari, managing director, CR Forex Advisors
Nifty Bank index fell 1.3 per cent to 37,450. Nifty Auto, Nifty Financial Services indices fell up to 1.4 per cent
Power Grid Corporation of India, Hindustan Unilever Ltd (HUL), HCL Tech, Sun Pharma, Tata Consultancy Services (TCS) were top BSE Sensex gainers
ICICI Bank, HDFC Bank, Bajaj-Auto, IndusInd Bank, Kotak Mahindra Bank, Housing Development Finance Corporation (HDFC) were top BSE Sensex laggards
BSE Sensex fell 338 points to 59329, while Nifty 50 index plunged over 100 points to trade at 17630 on Wednesday
Before expiration, we should focus on 10 days SMA and 20 days SMA. On Wednesday, if the market falls below 20 days SMA, which is around 17500, we should be a contra buyer for a short period. On the higher side of the view, there will be major resistance levels for the 17800 and 17850 Nifty. Till the market is not crossing 17950, traders should reduce weak long positions at resistance levels. The Pharmaceutical stocks should do well in the medium term.
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BSE Sensex tumbled 600 points to 59100, while the Nifty 50 index plunged 140 points to trade at 17600 in pre-open on Wednesday
Nifty futures tumbled 84 points or 0.47 per cent to 17640.50 on Singaporean Exchange, hinting at a heavy sell-off in BSE Sensex and Nifty 50. Technical analysts say daily charts show that the key support level for the Nifty is 17,580. It managed to close above its 15-day exponential moving average of around 17, 541 on the daily chart which will act as strong support followed by 17,510.
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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of petrol were left unchanged on Wednesday by oil marketing companies, a day after increasing the rate of both the fuels. Petrol in the national capital today costs Rs 101.39 per litre, while diesel in the capital city is retailing at Rs 89.57 per litre. Diesel price has been increased by nearly 70 paise in the preceding five days. 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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Yields on benchmark bonds have risen almost 9 basis points in the last three days, tracking a sharp rise in US Treasury yields after the Federal Reserve indicated sooner-than-expected tapering of its bond purchases, and with crude oil prices hitting $80/barrel. On Tuesday, the benchmark 6.10%-2031 bond yield ended at 6.2281%, as against the 6.2087% close on the previous trading session. The yield on the benchmark bond on September 23 was hovering around 6.1397%.
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Asian stock markets were trading lower, mirroring an overnight tumble on Wall Street. Japan’s Nikkei slipped 2.41 per cent while the Topix index dropped 2.5 per cent. South Korea’s Kospi declined 1.85 per cent.
In overnight trade, the Dow Jones Industrial Average fell 569.38 points, or 1.63%; the S&P 500 lost 90.48 points, or 2.04%; and the Nasdaq Composite dropped 423.29 points, or 2.83%.
Domestic equity markets witnessed a volatile trading session on Tuesday before closing deep in the red. S&P BSE Sensex gave up the 60,000 mark, falling 410 points or 0.68% on the closing bell while the NSE Nifty 50 managed to end the day just above 17,700. Bank Nifty closed 0.59% lower, slipping below the 38,000 mark while the India VIX soared 2.67%, breaching 18.5 levels. Entering Wednesday’s trading session, SGX Nifty was down nearly 100 points, hinting at a negative start to the day’s trade. Global cues were negative after Wall Street equity indices closed with losses.
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