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Share Market LIVE: Sensex trims losses, trade flat, Nifty nears 17,700; Bharti Airtel, HDFC among top gainers – The Financial Express

India VIX was up 2% during the initial hour of trade.
(Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets started the day flat with negative bias amid weak global cues. S&P BSE Sensex was in red but was still above 59,100 while the Nifty 50 index was hovering around 17,650. Bank Nifty slipped below 37,500. Midcap and small-cap indices were trading with gains, outperforming benchmark indices. India VIX was up 2%, breaching 17 levels again. Maruti Suzuki India was the top Sensex gainer, up 1%, followed by HUL, Asian Paints, Ultratech Cement, and HDFC. IT stocks were in the red along with banking names, HCL Tech and Tech Mahindra were the worst performers, down 1% each, followed by ICICI Bank and Titan.

Nifty trimmed losses and turned positive on Tuesday morning, after the initial hour of trade. Nifty was nearing 17700.

“The markets are struggling to keep above the 17700 level. This zone of 17700-17750 is a crucial one as we need to close above this for the markets to resume its current uptrend. Until that does not happen, we will be sideways. For the downside to trigger, we would need to break 17400 on a closing basis as that is the short term support respected earlier this month,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

Srei Infrastructure Finance shares tanked 5% to hit the lower circuit on Tuesday after the Reserve Bank of India superseded the board of directors of two of its group companies yesterday. 

Gold prices fell in India on Tuesday, following global rates a US dollar edged higher. On Multi Commodity Exchange, gold December futures were down Rs 105 or 0.22 per cent to Rs 46,782 per 10 gram, as against the previous close of Rs 46,887. Silver December futures were also down Rs 300 or 0.5 per cent to Rs 60,657 per kg. On Monday, silver futures ended at Rs 60,953 per kg. Globally, lingering inflation concerns kept bullion close to a more than one-week peak hit in the previous session, according to Reuters.

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Bharti Airtel was the top Sensex gainer on Tuesday, jumping 1.86%. Airtel was followed by Power Grid, Maruti Suzuki India, and Asian Paints. 

“On the technical front, key support levels for Nifty 50 is 17,600 level and a can face good resistance at 17.815 levels,” said Mohit Nigam, Head – PMS, Hem Securities.

Domestic benchmark indices started Tuesday’s trading session flat with a negative bias amid weak global cues. Bank Nifty was down 0.43%.

Sensex was trading flat with a positive bias on Tuesday, after having given up almost all gains during Tuesday’s pre-open session. Nifty was down in red.

Sensex and Nifty were sitting with gains on Tuesday’s pre-open session.  Nifty was above 17700 and the Sensex was near 59,500.

Nifty futures were trading 115 points or 0.65 per cent down at 17,595.50 on Singaporean Exchange, indicating a sell-off in BSE Sensex and Nifty 50 on Tuesday. Domestic cues remain positive as economic activities gain further momentum, but the elevated valuations along with multiple global concerns would keep markets volatile, said an analyst. RBI monetary policy and TCS second-quarter results due on 8th October (Friday) are the two key events which will be widely tracked.

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“Nifty is expected to open Negative at 17600, down by 100 points.  Nifty has support in 17450-17480 and resistance in 17750-17800 range. Traders can consider buy on dips with strict stoploss for targets of 17750 for the next few trading sessions,” said Gaurav Udani, CEO & Founder, ThincRedBlu Securities. 

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of petrol were hiked by oil marketing companies once again on Tuesday, after a one-day hiatus. Petrol in the national capital today costs Rs 102.64 per litre, up 25 paise since yesterday while diesel in the capital city is retailing at Rs 91.07 per litre, an increase of 30 paise. Petrol and diesel rates have increased 4 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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Domestic equity market benchmarks BSE Sensex and Nifty 50 were once again staring at a gap-down opening on Tuesday, as suggested by SGX Nifty. In the previous session, headline indices snapped the losing streak, recouping half of the last week’s losses, to end one per cent higher. S&P BSE Sensex gained 533 points to 0.91% to end at 59,299 while the Nifty 50 index jumped 159.20 points or 0.91% and settled at 17,691. 

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“Domestic cues remain positive as economic activities gain further momentum but the elevated valuations along with multiple global concerns would keep markets volatile. RBI credit policy and TCS quarterly results due on 8th September (Friday) are the two key events which will be widely tracked. RBI is expected to maintain its policy rates but it may lay the roadmap for stimulus tapering in line with other central banks. TCS would mark the start of Q3FY22 earnings season which is expected to continue the strong earnings momentum,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.

The Reserve Bank of India (RBI) on Monday said that it has superseded the boards of Kolkata-based non-banking financial companies (NBFCs) Srei Infrastructure Finance and Srei Equipment Finance. The two companies will now be referred for insolvency proceedings in the second such instance after Dewan Housing Finance (DHFL).

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