Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic stock markets witnessed a volatile trading session on Wednesday with headline indices dancing between gains and losses. At the end of the day, S&P BSE Sensex added 54 points or 0.9% to settle at 59,085 while the NSE Nifty 50 index jumped 27 points or 0.16% to close at 17,604. Bank Nifty zoomed 0.88% to close above 39,000 while India VIX dropped 3% to settle at 18.43. Tata Steel was the top laggard on Sensex, falling 1.26%, followed by Titan and TCS — all Tata group stocks. IndusInd Bank was up 2.9% as the top gainer, accompanied by NTPC and ICICI Bank.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Bulls and bears continued to battle it out on Dalal Street on Wednesday only for headline indices to close in the green, extending their up-move to their second day straight. At the end of the day, S&P BSE Sensex added 54 points or 0.9% to settle at 59,085 while the NSE Nifty 50 index jumped 27 points or 0.16% to close at 17,604. Bank Nifty zoomed 0.88% to close above 39,000 while India VIX dropped 3% to settle at 18.43. Tata Steel was the top laggard on Sensex, falling 1.26%, followed by Titan and TCS -- all Tata group stocks. IndusInd Bank was up 2.9% as the top gainer, accompanied by NTPC and ICICI Bank.
Sensex added 54 points on Wednesday to settle 0.09% higher at 59,085 while the NSE Nifty 50 index ended at 17,604. Bank Nifty was above 39,000.
DreamFolks Services IPO sailed through on the initial data of sale with retail investors leading the subscription tally. The Rs 562 crore IPO opened for subscription earlier today after having raised Rs 252.9 crore from 18 anchor investors. The public issue saw massive interest from retail investors who have oversubscribed their portion of the initial public offering. Demand from Non-Institutional Investors (NII) was also decent while qualified institutional buyers (QIB) were nowhere to be seen. The issue will remain open for investors to bid, till Friday, August 26. Investors can bid in the fixed price band of Rs 308-326 per share.
Broader markets were outperforming the benchmark indices on Wednesday. While Nifty 50 was trading flat with a negative bias, the small-cap 50 index was up 1.1% while mid-cap 50 gained 0.35%.
Sensex was moving between gains and losses on Wednesday. The index was hovering around 59,000 mark. Nifty 50 was holding above 17,550.
Innerwear manufacturer VIP Clothing may hike the prices of its product range by 15 per cent in the coming months. “There is a high chance of price hike for our products. The increase in the rate of yarn and paper cost used of packaging material which changes on a daily basis are the two major factors leading to price hike,” Sunil Pathare, Chairman and Managing Director, VIP Clothing Ltd, told FinancialExpress.com.
NTPC was the top gainer on Sensex on Wednesday afternoon, gaining 2.37%. IndusInd Bank, Larsen & Toubro, and Power Grid were the other gainers.
The Indian share market started Wednesday’s trade on a volatile note dancing between gains and losses. S&P BSE Sensex was trading flat and hovering around the 59,000 mark while the NSE Nifty 50 index was holding above 17,550. Bank Nifty was above 38,700 while India VIX (volatility index) was at 19 levels. While a stronger home economy is offering some consolation, market participants can see the fear of uncertainty in their high volatility movements, which are being driven by weak signals from international markets, according to analysts. Stock specific action may help investors pocket some gains in near term, and analysts at ICICI Securities have picked Apollo Tyres and Action Construction (ACE) stocks as their gladiator picks. The shares are expected to rally up to 15% in three months.
Domestic share market continued to swing between gains and losses on Wednesday as benchmark Nifty 50 tested 17,550 levels, whereas the S&P BSE Sensex was flat at 59,015 levels. Broader markets, meanwhile, outperformed frontline indices as Nifty Smallcap 100 and Nifty Midcap 100 gained up to 0.7%. Sectorally, Nifty Media and Nifty Realty held the fort as they gained over 1%. Nifty Auto, Nifty IT, and Nifty Pharma, however, were bogged down in trade. Amid the persistent volatility, stock specific approach may help investors accumulate quality stocks, and pocket returns. Analysts at Motilal Oswal believe Oberoi Realty may be a good stock pick from the real estate sector. The stock has rallied 7% so far this year, outperforming Nifty Realty index which has tumbled 8% YTD.
Edelweiss Asset Management Limited has launched a new scheme – ‘Edelweiss Gold and Silver ETF Fund of Fund’. This is the first of its kind fund in India which will give investors exposure to both gold and silver. The new fund offer (NFO) will be open for subscription between 24th August to 7th September 2022.
India’s manufacturing sector has seen a healthy rise with its share in the Indian economy reaching pre-covid levels, ICICI Securities said in a note. The brokerage firm believes India's manufacturing sector is poised to hit an all-time high in the medium term and analysts believe a number of stocks, linked to the sector, may rally higher owing to this boost. “Manufacturing activity reached pre-covid levels in FY22 and is poised to rise to an all-time high going ahead, on various triggers such as Capex revival, China+1, PLI, FDI, etc,” ICICI Securities said.
Nifty weekly contract has highest open interest at 17900 for Calls and 16800 for Puts while monthly contracts have highest open interest at 17900 for Calls and 16800 for Puts. Highest new OI addition was seen at 18000 for Calls and 17500 for Puts in weekly and at 18000 for Calls and 17500 for Puts in monthly contracts. FIIs increased their future index long position holdings by -0.29%, increased future index shorts by 1.30% and index options by 10.12% in Call longs, 13.30% in Call short, 4.48% in Put longs and 7.18% in Put shorts.
~ Anand James - Chief Market Strategist at Geojit Financial Services
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading in red on Wednesday, as yellow metal prices remained steady in global markets. On Multi Commodity Exchange, gold October futures were ruling Rs 37 or 0.07 per cent down at Rs 51,376 per 10 gram, as against the previous close of Rs 51,417. Silver September futures were down Rs 38 to Rs 55,169 per kg. Globally, yellow metal prices held steady with gains checked by an uptick in the U.S. dollar, as market participants looked forward to a speech from Federal Reserve Chair Jerome Powell later this week. Read full story
Sensex and Nifty rose from their lows to turn positive on Wednesday. Both headline indices were up with marginal gains.
"The steady buying by FIIs even in the midst of strengthening the Dollar is significant from the market perspective. There is a near consensus now that India will be an outperformer in the deteriorating global growth environment. So, FII inflows will be more country specific rather than emerging market oriented. The near-term market trend will be influenced by the observations of the Fed Chief Jerome Powell on Friday. If the Fed Chief sounds ultra-hawkish, that would be a dampener for markets. On the other hand if he sounds optimistic on the growth front and on containing inflation that would be a bullish message. Financials and capital goods continue to be investable segments. IT valuations are attractive," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
NDTV share price jumped more than 3% today to Rs 380 apiece on BSE, after Gautam Adani-led Adani group made a move to acquire a controlling stake in the television news network on Tuesday. NDTV stock has risen 42.17% in the last one month, while it has skyrocketed 186.49 per cent in the last six months. On a year-to-date (YTD) basis, NDTV share price has soared 237.71%. NDTV stock hit a new 52-week high for the second consecutive day on Wednesday. Read full story
Sensex opened flat on Wednesday, moving between marginal gains and losses. Nifty 50 index was holding above 17550.
Sensex and Nifty began Wednesday's pre-open session with losses.
DreamFolks Services Limited’s Rs 562 crore IPO opens today for subscription. Just ahead of the opening of the subscription window, DreamFolks Services has managed to raise Rs 252.9 crore from 18 anchor investors, including marquee global as well as domestic names. Societe General, Mirae Asset India, BNP Paribas Arbitrage, and Aditya Birla Sunlife are some of the investors who have picked up a stake in the company via the anchor portion of the issue. The DreamFolks IPO opens today and will remain open for subscription till Friday, August 26. The issue is the second IPO to enter primary markets in recent weeks.
"While a stronger home economy is offering some consolation, market participants can see the fear of uncertainty in their high volatility movements, which are being driven by weak signals from international rivals. Markets around the world were under stress due to rising energy prices in Europe and concerns about rate hikes. On the technical front, immediate support and resistance in Nifty 50 are 17475 and 17750 respectively. Bank Nifty immediate support and resistance are 38400 and 39300 respectively," said Mohit Nigam, Head - PMS, Hem Securities.
Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 were likely to open in red on Wednesday, a day before weekly and monthly F&O expiry. SGX Nifty 50 Index Futures for August were trading at 17554, down 54 points or 0.31 per cent. In the previous session, S&P BSE Sensex added 257 points or 0.44% to close at 59,031 while the NSE Nifty 50 index gained 86 points or 0.5% to settle at 17,577. Technical analysts say that the Nifty held above the support of 23.6% fibonacci retracement at 17330 levels (connected from the bottom of June to high of 19th Aug) before showing upside bounce. Read full story
The price of petrol and diesel has been left unchanged for more than three months by OMCs on August 24. The last country-wide change in price came on May 21, when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and Rs 6 per litre on diesel. Since then, Maharashtra is the only state to have cut rates. Maharashtra government had announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel earlier last month. The cut in VAT is likely to cost Maharashtra’s state exchequer Rs 6,000 crore on an annual basis.
"The decent pullback rally from the lows of Tuesday could be a cheering factor for bulls to make a comeback. Further follow-through up-move from here and a sustainable move above 17800 levels could open further upside for the short term. Any failure to sustain the highs is likely to bring bears into action again. Immediate support is placed at 17500 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
The domestic production of crude oil fell 3.8% while gas output remained near static in July over the same month a year ago to stand at 2.45 million tonne (MT) and 2,883 million cubic metre (mcm), respectively. Targets have been missed in the production of both the products.
US stocks retreated after weak economic data, with traders awaiting more clarity on the Federal Reserve’s monetary policy path from the annual central bankers’ symposium later this week. The S&P 500 saw its third straight drop after swinging between gains and losses throughout the session. Trading volume was among the lowest in 2022. Treasury 10-year yields topped 3%, while the dollar halted a four-day rally. Traders are bracing for hawkish talk at the Jackson Hole event after recent comments from officials convinced many investors the Fed will continue to tighten even with a slowing economy.