Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices made a smart intra-day recovery after opening with losses but failed to hold gains and closed the day deep in the red. On the closing bell, S&P BSE Sensex was down 525 points or 0.89% at 58,490 while the NSE Nifty 50 index was down 188 points or 1.07% at 17,396. Bank Nifty ended 1.76% lower at 37,175. India VIX zoomed 14.85% during the day to close at 17.49. Broader markets ended in the red. Hindustan Unilever was the top Sensex gainer, ending 2.96% higher, followed by Bajaj Finserv, and ITC. Tata Steel shares tanked 9.53%, followed by State Bank of India, IndusInd Bank, and HDFC.
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Monday madness on Dalal Street forced Sensex and Nifty to end deep in the red with losses, giving up intra-day gains. On the closing bell, S&P BSE Sensex was down 525 points or 0.89% at 58,490 while the NSE Nifty 50 index was down 188 points or 1.07% at 17,396. Hindustan Unilever was the top Sensex gainer, ending 2.96% higher, followed by Bajaj Finserv, and ITC. Tata Steel shares tanked 9.53%, followed by State Bank of India, IndusInd Bank, and HDFC. Bank Nifty ended 1.76% lower at 37,175. India VIX zoomed 14.85% during the day to close at 17.49. Broader markets ended in the red.
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Dow Jones futures were trading 500 points lower on Monday hinting at a turbulent start for US stock markets later today. US stock futures tanked after Dow Jones Industrial, S&P 500, and the NASDAQ ended deep in red on Friday, marking the third consecutive week of losses and turning negative month-to-date. Along with Dow futures, NASDAQ and S&P 500 futures were also down with losses ahead of US Federal Reserve’s September meeting scheduled to end on Wednesday this week. Investors will be keenly watching US Federal Reserve Chairman Jerome Powell’s address later in the week.
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Domestic equity benchmark indices BSE Sensex and Nifty 50 closed deep in the red after a volatile trading session. Bank Nifty ended with losses.
Nifty 50 gave up 17,400 during the dying hours of trade on Monday. The index dell 190 points or 1.09% to trade at 17,391.
India VIX, the volatility gauge of domestic stock markets, zoomed 12.34% on Monday as headline indices tanked. The fear index was sitting above 17 levels.
"Nifty Technical support seen at 17,350; Expect volatility to settle down by Wednesday; Fed meet (tomorrow) + also China is closed today/tomorrow so any regulatory support would come only by Wednesday," said Rahul Sharma, Director & Head - Research, JM Financial.
Nifty Metal index was down 5.7% with just minutes left before the closing bell. National Aluminium Company, Tata Steel, and Jindal Steel were among the worst performers, falling more than 8% each. SAIL was down 5.91%.
Consumer companies are operating under a better environment after countering the dual impact of supply chain and demand disruption followed by sharp inflationary pressures in FY21. Cost savings were in focus for consumer staple companies to avoid margin pressure as raw material prices remained inflated. The companies managed to bring their overall operating cost down (ex-RM), largely driven by conscious efforts to cut spends and improved volumes in the essential categories.
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The present political dispensation came to power in May ’14, and since then two things have been fairly high on the agenda – formalization and digitization, and quite rightly so. The fact is that both are in some ways linked to each other and do tend to complement each other.
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Benchmark indices were sitting deep in red with less than an hour left before the closing bell. Nifty was just above 17,450.
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.
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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.
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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.
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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.
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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.
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.
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"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.
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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.
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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.
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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.
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