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Share Market LIVE: Sensex tanks 600 pts on F&O expiry day, Nifty support at 17950; ICICI Bank top dragger – The Financial Express

Bank Nifty lost over half a per cent to rule at 40,652. Nifty Metal fell nearly 2 per cent.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading in the negative territory on Thursday, a day of F&O expiry. BSE Sensex was ruling near 60,600, while Nifty was trading below 18050. Titan Company was the top Sensex loser, down over 2 per cent, followed by Tata Steel, ICICI Bank, Axis Bank, ITC, Housing Development Finance Corporation (HDFC), State Bank of India (SBI), Kotak Mahindra Bank. IndusInd Bank, Larsen & Toubro (L&T), Bajaj-Auto, M&M, HUL, TCS, Nestle India were top index gainers. All the Nifty sectoral indices were trading in the red, falling up to 2.3 per cent. Bank Nifty lost over half a per cent to rule at 40,652. Nifty Metal fell nearly 2 per cent.

The Nifty 50 index has clearly defined a trading zone of 18000-18600 levels for itself; presently it has been defending the key supports so far. As per the pattern analysis of the charts, so long as NIFTY is above to defend the zone of 17950-18000 it is unlikely to show any major weakness and the dips may keep getting bought. Today there can be an exception to this behavior given the expiry-influenced trends. However, NIFTY will stay stable so long as it defends the zone mentioned here. It will invite weakness only if this zone is violated on a closing basis. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services

Sensex has fallen more than 1% today taking cues from weak global markets. The monthly expiry of  October futures has further put pressure on the benchmark indices. Nifty may touch the level of 17800 and Sensex may touch the level of 60000 this week. Ravi Singh, VP Head of Research, Share India Securities

Q2 results, so far, shows a sharp turnaround in India Inc’s profitability, and the present demand conditions indicate a continuation of this positive trend. However, in the coming days, the primary market with its keenly watched IPOs is likely to be the centre of attraction. The Nykaa and Paytm IPOs totalling around Rs 24000 cr are likely to witness enthusiastic investor response and this will drain away some liquidity from the secondary market. This may keep the secondary market rather subdued, but sharp reactions to results will lead to volatility in individual stocks.On the flip side, the new Covid variant AY 4.2 has emerged as a new concern. China imposing price curbs on coal will have implications for global coal and metal prices. This can restrain the rally in metal stocks, which has been the best performing segment of the market in this rally. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Nifty has given around 43% returns in Samvat2077 so far, while Midcaps/Smallcapshave outperformed and are up 70%/82% respectively. All sectors delivered positive returns, with top gainers being Metals (+128% YoY), Realty (+113%) and PSU Banks (+93%). Motilal Oswal Financial Services

Global inflationary environment & average Q2FY22 results along with monthly expiry volatility has led to a 1% cut in both Nifty & Nifty Bank. Technically, Nifty has strong support at 17976 below which 17700 could be possible. Nifty Bank has immediate support at 40150. Daily closing below this support should lead to 39450. Pavitraa Shetty, Co-founder & Trainer, Tips2Trades

Even as Sensex and Nifty were down 1%, stocks such as IndusInd Bank, L&T, Maruti Suzuki, UltraTech Cement, Asian Paints surged up to 6 per cent

Indian equity benchmarks made a negative start on Thursday tracking weakness in global peers. Markets quickly extended their losses and are now trading lower, with each market losing more than half a percent in early trade. The domestic indices were weighed down by selling on almost all sector indices, with the exception of Capital Goods. Traders were wary since the October F&O series contract was set to expire later in the day. Our research suggests that 18350 may act as resistance point for short period and 17950 an important support level in the market. If the market breaches the level of 18350, we can expect the market to trade till the level of 18400-18500. Technical Indicators also support positivity in the market. Likhita Chepa, Senior Research Analyst at CapitalVia Global Research

Index heavyweights such ICICI Bank, HDFC Bank, Housing Development Finance Corporation (HDFC), ITC, Kotak Mahindra Bank and Reliance were top Sensex draggers

BSE Sensex was trading at day’s low, tumbling over 600 points or one per cent to 60,532. While NSE Nifty lost 185 points or one per cent to rule at 18,017

The index has a stiff resistance at 18350 and that has been proved a couple of times over the last few sessions. The Nifty has a good support around the 17900-18000 levels. As long as that holds, the trend remains positive. But if we are unable to break this level and do not surpass 18350 either, the markets are going to trade sideways. Therefore it is advised not to consider any directional call on the index until either level is taken out. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

Paytm’s Rs 18,300-crore IPO — India’s largest to date — will open for subscription on 8 November 2021, at a price band of Rs 2,080-2,150 per share of face value of Rs 1 each. The IPO would topple the 2010 public issue of state-run Coal India Ltd as the largest ever. Paytm IPO will close for subscription on 10 November. The firm has increased its IPO size by Rs 1,700 crore to Rs 18,300 crore from Rs 16,600 crore, with the increment coming entirely from the existing shareholders selling more stake. The public issue comprises a fresh issue of equity shares worth Rs 8,300 crore and an offer for sale (OFS) of up to Rs 10,000 crore. 

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Nykaa IPO opened for subscription today, with the fashion e-commerce brand looking to raise Rs 5,352 crore in the primary market. Ahead of the IPO (Initial Public Offering), Nykaa’s parent company FSN E-Commerce Ventures Ltd managed to raise Rs 2,395 crore from 174 anchor investors.

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All the Nifty sectoral indices were trading in the red, falling up to 2.3 per cent. Bank Nifty lost over half a per cent to rule at 40,652. Nifty Metal fell nearly 2 per cent

IndusInd Bank, Larsen & Toubro (L&T), Bajaj-Auto, M&M, HUL, TCS, Nestle India were top index gainers

Titan Company was the top Sensex loser, down over 2 per cent, followed by Tata Steel, ICICI Bank, Axis Bank, ITC, Housing Development Finance Corporation (HDFC), State Bank of India (SBI), Kotak Mahindra Bank.

BSE Sensex was trading 180 points or 0.3 per cent down at 60,955, while NSE Nifty gave up 18150 level to trade at 18140

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of petrol and diesel were increased by oil marketing companies for the second consecutive day on Thursday. Petrol in the national capital today costs Rs 108.29 per litre, up by 35 paise since yesterday. Meanwhile, diesel in the capital city was retailing at Rs 97.02 per litre, up 35 paise. Petrol and diesel rates have increased 20 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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Nifty is expected to open positive at 18200. Since the last few trading sessions, Nifty has been correcting and charts suggest it may continue doing so for the next few sessions. Traders are suggested to book profits on every rise and avoid taking new long positions till we get a bullish confirmation. Nifty has support in 17980 and 18050 range and resistance in 17300 and 18350 range. Gaurav Udani, CEO & Founder, ThincRedBlu Securities

Overall, the Nifty is expected to continue with the short-term consolidation. The consolidation range for Index is now between 18000-18600 zones. On the upside, 18,600 will be the level to watch in the coming week. If the price breaches this level, the index can move towards the 18,850-19,000 mark. Aprajita Saxena, Research Analyst, Trustline Securities

BSE-listed companies such as Bajaj Finserv, NTPC, Tata Power, DLF, InterGlobe Aviation, Marico, RBL Bank, Adani Green Energy, AU Small Finance Bank, Blue Star, CarTrade Tech, Chalet Hotels, Chemcon Speciality Chemicals, Edelweiss Financial Services, Gujarat Gas, HSIL, Indian Bank, Infibeam Avenues, JK Tyre & Industries, Mahindra & Mahindra Financial Services, Motilal Oswal Financial Services, Reliance Infrastructure, SBI Cards and Payment Services, UCO Bank, UTI Asset Management Company, Welspun Corp, and Westlife Development will release September quarter earnings today.

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Nifty and Bank Nifty is facing some pressure and move in a consolidative way. Traders are advised to buy on dips till the index holds key support levels.

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Nifty Put options OI distribution shows that 18,000 has highest OI concentration followed by 18,200 & 18,100 which may act as support for current expiry and on the Call front 18,300 followed by 18,400 & 18,500 witnessed significant OI concentration and may act as resistance for current expiry.

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After showing sustainable upside bounce from the lows on Tuesday, Nifty displayed high volatility on Wednesday and closed the day lower by 54 points. After opening on a positive note, the market made an attempt to move up gradually in the early-mid part of the session before shifting into a narrow intraday range. The sharp weakness triggered in the afternoon to later part of the session and the market finally closed near the lows.

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In the overnight trade on Wall Street, the Nasdaq ended little changed on Wednesday. The Dow Jones Industrial Average fell 266.19 points, or 0.74%, to 35,490.69, the S&P 500 lost 23.11 points, or 0.51%, to 4,551.68 and the Nasdaq Composite added 0.12 point, or unchanged, to 15,235.84.

Asian stock markets were trading lower in early trade on Thursday. Japan’s Nikkei declined 1.2 per cent while the Topix index shed 1.13%

Nifty futures were ruling at 18,237, up 25 points or 0.14 per cent on Singaporean Exchange

Nykaa’s Rs 5,352 crore IPO is set to open today at a fixed price band of Rs 1,085-1,125 per share. The fashion e-commerce platform, run by parent company FSN E-Commerce is promoted by Falguni Nayar and backed by private equity firm TPG. Ahead of the opening of IPO (Initial Public Offering), shares of the company were commanding a premium of Rs 670 per share in the grey market amid strong interest, said people dealing in unlisted shares. Nykaa received SEBI’s go-ahead for the IPO earlier this month, along with six other firms. 

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