Sensex, Nifty resume up move after one day blip; check what pushing markets higher today

By: |
August 13, 2020 11:05 AM

Barring Nifty PSU Bank index, all the sectoral indices were trading in the positive territory.

sensex, niftyThe support for the Nifty is at 11150 so a closing below that level could be kept as a stop for all long trades

BSE Sensex and Nifty 50 were trading with gains on Thursday, following a one-day blip in the previous session. At 10.30 AM, the 30-share index Sensex was up 102 points or 0.27 per cent to trade at 38,472, while the broader Nifty 50 was ruling at 11,347, up 36 points or 0.34 per cent. Index heavyweights such as Kotak Mahindra Bank, ICICI Bank, TCS, L&T and Titan Company were the top index contributors, keeping the Sensex in the green. “The Nifty has resumed its up move after a brief pause yesterday. We should be heading to levels closer to 11500 during the course of this month’s expiry. The support for the Nifty is at 11150 so a closing below that level could be kept as a stop for all long trades,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

Titan Company top BSE Sensex gainer: Among 30 Sensex stocks, Titan was the top Sensex gainer, up 2.2 per cent, followed by Kotak Mahindra Bank, M&M, UltraTech Cement, ONGC, NTPC and State Bank of India (SBI). On the other hand, ITC, Bharti Airtel, Maruti Suzuki, Tata Steel, HDFC a and Reliance Industries (RIL) were among top index losers.

Sectoral indices trade in green: Barring Nifty PSU Bank index, all the sectoral indices were trading in the positive territory. Nifty Metal, Nifty IT gained the most, up 0.83 per cent and 0.99 per cent. While Nifty PSU Bank index fell 0.33 per cent.

Earnings today: Eicher Motors, Bharat Petroleum Corporation, Hero MotoCorp, Tata Steel, GAIL India, Aditya Birla Fashion, APL Apollo Tubes, Balkrishna Industries, City Union Bank, DB Corp, Endurance Technologies, Godrej Industries, Grasim Industries, Garden Reach Shipbuilders & Engineers, Kirloskar Industries, PFC and Shriram Transport Finance are among 178 companies that are scheduled to announce quarterly earnings today.

FII and DII data: On Wednesday, foreign institutional investors (FIIs) bought shares worth Rs 351.15 crore while domestic institutional investors (DIIs) sold shares worth Rs 939.67 crore on a net basis, according to the provisional data available on the NSE.​

Global markets: Asian stock markets were trading mixed on Thursday. Hong Kong’s Hang Seng index was down 0.12%. Japan’s Nikkei 225 bounced around 2%, while the Topix was also up 1.39%. In overnight trade on Wall Street, US stock indices ended higher. The Dow Jones Industrial Average rose 1.05 per cent, the S&P 500 gained 1.40 per cent and the Nasdaq Composite added 2.13 per cent.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Brookfield REIT plans USD 600 million IPO
2Strong gold demand may continue until global economy is back on solid track
3IPO watch: Mazagon Dock issue oversubscribed, UTI AMC subscribed 25%, Likhitha Infrastructure at 84%