Press "Enter" to skip to content

Share Market LIVE: Sensex tumbles over 400 pts from day’s high, Nifty below 17,500; Tata Steel tanks 7% – The Financial Express

India VIX was surging higher on Monday. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices opened deep in red on Monday morning but made a remarkable comeback into the positive territory within the opening hour of trade. Sensex was just above 59,000 while the Nifty 50 was nearing 17,600. Bank Nifty was still trading with losses along with broader markets. India VIX was up 6%. ITC was the top gainer on Sensex, up 3%, followed by Hindustan Unilever, HCL Technologies, and Kotak Mahindra Bank. On the other end, Tata Steel was down 4.66%, followed by HDFC, Bajaj Auto, and Power Grid.

BSE Sensex tanked 442 points from day’s high in the afternoon session on Monday, on the back of profit booking

ITC share price extended the rally, rising over 2 per cent to Rs 239.40 apiece on BSE in intraday deals on Monday. The stock surpassed its previous high of Rs 239.15 apiece, touched on 9 February 2021. ITC share price has rallied over 12 per cent in the last one week, as compared to a rise of 1.8 per cent in S&P BSE Sensex. Technical analysts see ITC stock hitting Rs 250 apiece, a gain of a further 4.4 per cent from current levels, suggesting investors to buy the stock. ITC has seen some retracement after hitting a new high. “Technically, it has strong resistance at 238-239 zone. If the price moves above 239, it would result in an actual breakout. At present, it has just attempted a breakout and has retraced after meeting resistance. Fresh buy is advised if the stock moves above 239,” Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services, told Financial Express Online.

Read full story

When you embark on an investment journey, you are often confronted with questions about the products that can work best for you. One instrument that probably works on both returns and tax-saving aspects is Equity-Linked Savings Schemes or ELSS. It is a diversified equity scheme that not only helps you in achieving long-term financial goals but also helps get a tax deduction benefit of up to Rs 1.5 lakh for your investments under Section 80C of the I-T Act. ELSS comes with a mandatory lock-in period of three years, which means you cannot redeem or switch during this duration. Therefore, it becomes extremely important to choose the right scheme for yourself to get the best results.

Read full story

TCS, Infosys, Wipro, HCL Technologies, Tech Mahindra, and other IT stocks may remain in strong upward momentum, continuing the stellar performance of the last 18 months, said domestic brokerage and research firm Edelweiss Securities. The brokerage firm has been bullish on domestic IT stocks for the last couple of months now; however, it said it has “underestimated the tidal digital wave on both growth and margins”. “We now forecast industry revenue growth for the next three years will be 18-20% while margins, on average, will expand 100-200bps vis-a-vis FY21 led by pricing power and many of the costs not returning to pre-pandemic levels ever,” Edelweiss said.

Read full story

Paras Defence and Space Technologies Rs 170.77-crore IPO is scheduled to open for subscription on 21 September, at a price band of Rs 165-175 per share of the face of Rs 10 each. In the primary market, the premium has more than doubled from the issue price. On Monday, Paras Defence and Space Technologies were trading at Rs 370, a premium of Rs 195 or 111 per cent, in the grey market, according to people who deal in unlisted shares of the company. The company does not have any listed industry peers in India.

Read full story

Sensex and Nifty were dancing between gains and losses on Monday morning after trimming their gains. Bank Nifty was down in the red while Bank Nifty was up 7.8%.

Nifty Open Interest Put Call Ratio fell sharply to 1.15 levels from 1.58 levels. Amongst the Nifty options (23-Sep Expiry), Put writing was seen at 17300-17500 levels, Indicating Nifty is likely to find support in the vicinity of 17300 – 17500 levels. On the higher side, an immediate resistance is seen in the vicinity of 17700 – 17800 levels where we have seen Call writing.

~ HDFC Securities

A weaker global bias on account of China’s deteriorating fundamentals and rising tapering expectations from the Fed is setting a bullish tone for the USD. And hence, the USDINR could move towards its upper hand of 73.80-90 today. If that is taken out then we could move towards 74.20-74.40 levels. On the contrary side, support lies at 73.50 and 73.30 levels. Amit Pabari, managing director, CR Forex Advisors

“17700 – 17800 are to be seen as immediate hurdles; whereas on the flipside, 17450 – 17250 should be treated as key supports. The first sign of real weakness would come only if we start sliding below the lower range,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.

Sensex has regained 59,000 mark on Monday morning after opening deep in the red. Nifty was above 17,550.

“The Nifty has opened with a gap down this morning. What needs to be monitored is whether it breaks the low of 17400. If that were to happen, we could slide further to 17250-17300. This would be more of a short term move. The medium-term trend continues to remain positive until we do not break 17100 on a closing basis,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

Sensex trades flat with a negative bias, but still below 59,000. Nifty 50 was hovering 17,550.

Commodity prices traded lower with most of the commodities in non-agro segment witnessed selling except Crude oil. Bullion prices traded lower on a stronger dollar and FED tapering expectations. Base metals traded down on weak China cues amid real estate crisis and lower demand. Crude oil prices extended weekly gains on higher demand outlook and lower supply from Gulf of Mexico.

Read full story

“Asian shares eased and the dollar held firm on Monday ahead of a week graced with no less than a dozen central bank meetings, highlighted by the federal reserve which is likely to take another step toward tapering. US Stocks ended sharply lower in a broad sell-off on Friday, ending a week buffeted by strong economic data, corporate tax hike worries, the delta COVID variant, and possible shifts in the US Federal Reserve’s timeline for tapering asset purchases. Ten-year Treasury yields have risen ahead of the Fed meeting this week where policy makers are expected to start laying the groundwork for pairing stimulus .Oil down on stronger greenback, rising US rig count. Iron ore will be closely watched after falling below $100 a metric ton for the first time in more than a year. Stock specific actions can be witnessed in stocks such as Sobha Ltd (Chief Financial Officer Subash Mohan Bhat has resigned. He will continue in his position till a new CFO is appointed) Bajaj Holdings (Board has approved an interim dividend of Rs 90 per equity share. The record date for the interim dividend will be Sept. 29, 2021). Crucial support for Nifty 50 is 17,300 while Nifty may face some resistance at 17,600,” said Mohit Nigam, Head – PMS, Hem Securities.

Sensex and Nifty started the day’s trade deep in red. Sensex slipped below 59,000 mark while Nifty was near 17,450.

“Nifty is expected to open with a gap down of 150 points around its support zone at 17450. Traders need to be cautious and need to keep a strict stoploss. Any close below 17400 may take Nifty up 17250. Trend in Nifty is bullish and shorts are not advised as long as it is trading over 17200,” said Gaurav Udani, CEO & Founder, ThincRedBlu Securities. 

Sensex was down near 58,632 during the pre-open session while Nifty was just shy of 17,450 mark. Benchmark indices look set to open with losses on Monday.

Sensex was down more than 300 points in pre-open session while Nifty 40 was nearing 17,400 during the pre-open session.

Nifty futures extended losses, were now trading 162 points or 0.92 per cent down at 17439.50 on the Singaporean Exchange. BSE Sensex and Nifty 50 were set to witness a gap-down start today. Analysts say that the constitution of a ‘Bad Bank’ is a positive development as the focus remains on faster resolution of stressed assets, which will improve the balance sheet of the banks. “Valuations are not comfortable and hence could lead to bouts of profit booking. The weak global cues on account of worry over slower economic growth and rising Delta variant cases globally would market oscillating between greed and fear,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.

Read full story

Nifty futures tanked 134.50 points or 0.76 per cent in the early trade on Singaporean Exchange, suggesting a gap-down start for BSE Sensex and Nifty 50 for Monday. Equity benchmarks surged to their fresh lifetime peaks on Friday. During the last week, the 30-share BSE benchmark jumped 710 points or 1.21 per cent. With no major domestic macroeconomic data announcement this week, investors would keenly track the US Fed interest rate decision and other global trends to decide its further movement. Moreover, market participants would also track foreign institutional investors movement, rupee-dollar trend, brent crude, and other global cues.

Read full story

Nifty 50 traded in a band of almost 200 points between September 6 and September 14 without giving any meaningful indication. On September 15, the Benchmark index finally witnessed a breakout on the higher side of a narrow range consolidation pattern and continued to trade higher for the next couple of trading sessions and registered its lifetime high of 17792 on September 17. 

Read full story

SGX Nifty was down 140 points ahead of the opening bell. Nifty futures trading deep in red ahead of the opening was hinting at a negative start for domestic markets.

The Shapoorji Pallonji Group on Sunday announced the sale of its consumer durables business under the Eureka Forbes label to American private equity fund Advent International. Under a Rs 4,400-crore deal, the PE firm will acquire a controlling stake of 72.56% in the business, which will come under a standalone company.

Read full story

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates