Bank Nifty was down nearly one per cent while Nifty Metal fell half a per cent. Image: Reuters
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading flat on Thursday, a day of F&O expiry of August contracts. BSE Sensex was hovering around 56,000 and Nifty 50 above 16,650. Reliance Industries Ltd (RIL), HCL tech, Asian Paints, Bajaj Auto were top BSE Sensex gainers. Bharti Airtel, Maruti Suzuki, Power Grid Corporation of India, Titan Company, Axis Bank were top index losers. Bank Nifty was down nearly one per cent while Nifty Metal fell half a per cent. Nifty IT index gained 0.7 per cent
State-run banks will undertake a nation-wide loan outreach programme around October, finance minister Nirmala Sitharaman said on Wednesday, as the government seeks to stir economic growth through sustained credit push, especially to Covid-hit small and medium businesses, retail and farm sectors, amid fears that bankers have turned risk-averse.
The central government's decision to hike the minimum price that mills pay to farmers by Rs 5 a quintal is marginally positive for farmers and farm workers. But since the government has refused a rise in the price at which mills can sell is a dampener. From the market perspective, sugar stocks undergo cyclical ups and downs. But they were never consistent compounders or long-term wealth creators. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Vijaya Diagnostic Centre Rs 1,895-crore IPO will open for subscription on 1 September, at a price band of Rs 522-531 per share of the face value of Re 1, each. So far this tear, Vijaya Diagnostic Centre IPO is the 39th issue. In the primary market, Vijaya Diagnostic Centre was seen quoting at a premium of Rs 40, over the issue price. On Wednesday, Vijaya Diagnostic Centre shares were trading at Rs 571, a premium of 7.5 per cent over the IPO price, in the grey market, according to the people who deal in the unlisted shares of the company.
NSE Nifty 50 may scale 17,745 in the next one year -- an upside of 6% from current highs -- according to domestic brokerage and research firm Prabhudas Lilladher. “Equities remain an attractive asset class given ample liquidity, low-interest rates and recovery hopes, the brokerage firm said in a report. However, rising volatility and inflow of significant retail money remains a key monitorable, the report added. Benchmark indices have remained resilient since April 2020, recovering from the covid-19 induced sell-off smartly. Now Sensex and Nifty are sitting well above pre-covid levels, near all-time highs of 56,198 and 16,712.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading flat on Thursday following global rates as investors turned cautious ahead of US Federal Reserve Chair Jerome Powell’s speech this week. On Multi Commodity Exchange, gold October futures were trading Rs 17 down at Rs 47,162 per 10 gram, as against the previous close of Rs 47,179. Silver September futures were ruling at Rs 63,201 per kg, down Rs 71. In the previous session, silver futures ended at Rs 63,272 per kg. Globally, Spot gold was flat at $1,790.63 per ounce. Prices fell 0.7% in the previous session, its biggest one-day decline in more than two weeks, according to Reuters. US gold futures rose 0.1% to $1,793.00.
We are successfully trading above 16600 which is an indication of strength. 16800-16850 is a potential target and a resistance zone too! Traders should look at this level to take profits from their positions and update stops. Intra day falls can be used to accumulate long positions. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Bharti Airtel, Maruti Suzuki, Power Grid Corporation of India, Titan Company, Axis Bank were top index losers
Reliance Industries Ltd (RIL), HCL tech, Asian Paints, Bajaj Auto were top BSE Sensex gainers
The sentiment for the USDINR pair remains mixed until any major triggers help it to break the narrow range of 74-74.50. The chances of odds are dominating for higher side breakout as RBI remained intolerant for the appreciating side. Further, importers could also rush to cover their short-term dollars payable ahead of big events and recovery in the crude oil prices. On the contrary side, the Bank of India’s QIP worth Rs. 3000 crore could attract dollar flows and could restrict the gains in the pair. At last, the tussle is likely to continue between IPO/QIP flows and RBI/importers. Overall, the short-term range is likely to be from 74 to 74.40 and the medium-term to be 74-75.50 with an upside bias. Amit Pabari, MD, CR Forex Advisors
BSE Sensex fell 67 points or 0.12 per cent to 55,877.77, while the Nifty 50 index gave up 16,650 on F&O expiry day
Indian equity markets appear to have a subdued session today as SGX Nifty indicates a flat opening. Asian stocks showed mixed performance this morning as traders await more clarity on the regulatory outlook in China as well as the Fed’s approach to paring stimulus. South Korean market pared gains as Bank of Korea makes the first ever post pandemic move to hike interest rate of 7-day repurchase rate from 0.5% to 0.75%. Jerome Powell’s speech on Friday at Jackson Hole will provide a clearer guide on when and how the Fed will scale back its emergency support, keeping markets standby. Global markets will also keep a watch on US GDP and initial jobless claims data which is to be announced today. Mohit Nigam, Head - PMS, Hem Securities
Sensex gains 200 poinst to 56,100 and Nifty 50 index was seen trading at 16,680 in the pre open on Thursday
Nifty futures were trading 22.50 points or 0.14 per cent down at 16,604 on Singaporean Exchange, indicating a gap-down start for BSE Sensex and Nifty 50 on F&O expiry day. Analysts expect volatility in stock markets today on the back of monthly expiry of August contracts. Technical charts suggest that post the strong pullback rally, the index has formed a double top kind of reversal formation near the 16700 resistance level, which is broadly negative for the market. “However, the larger texture of the market is still bullish, but for day traders the 16700 level would act as a major hurdle. Above the same, the uptrend could continue up to 16750-16790 levels. On the flip side, a strong possibility of quick intraday correction up to 16580-16550 levels is not ruled out if the Nifty succeeds to trade below 16620,” Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities, said.
Nifty moved up further on Wednesday to touch a new life high. Though selling pressure emerged in the afternoon session and pulled the index lower, the short term trend of the Nifty remains up and traders will need to watch if the Nifty can hold above the immediate support of 16608 for a retest of the life highs; else we could see a short term correction towards the next support of 16592.
In the Nifty current series, there has been a Short Covering witnessed with an increase in the price of 5.23% and decrease in OI by 47% as of today wherein there was the unwinding of 41.26 lakh shares in OI, decreasing from 88.24 lakh to 46.98 lakh shares, while OI in September series is 95.35 lakh shares with the addition of 36.88 lakh shares on Wednesday. The major unwinding in the current series is due to the monthly expiry scheduled for Thursday. Nifty August rollover stands at 68.16% as of Wednesday.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of petrol and diesel were left unchanged by oil market companies on Thursday. Today, petrol in the national capital costs Rs 101.49 per litre, while Diesel in the capital city is retailing at Rs 88.92 per litre. So far this week prices have been cut twice. The price of petrol was cut for the first time in 35 days on Sunday. 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.
In overnight trade on Wall Street, S&P 500 and Nasdaq Composite notched all-time closing highs ahead of Jackson Hole Symposium. The Dow Jones Industrial Average rose 0.11 per cent, the S&P 500 gained 0.22 per cent, and the Nasdaq Composite 0.15 per cent.
Asian stock markets were trading with losses in early trade on Thursday, even as US stocks ended at record high levels. Japan’s Nikkei 225 rose marginally, while the Topix traded below the flatline. Australia’s S&P/ASX 200 fell 0.4 per cent.
State-run banks will undertake a nation-wide loan outreach programme around October, finance minister Nirmala Sitharaman said on Wednesday, as the government seeks to stir economic growth through sustained credit push, especially to Covid-hit small and medium businesses, retail and farm sectors, amid fears that bankers have turned risk-averse.
Market LIVE: Sensex tops 56,000, Nifty above 16,650 on monthly F&O expiry day; RIL jumps, Bharti Airtel drags - The Financial Express
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