Volatility surged 9.94% during the day to close above 23 levels. Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity benchmark indices, after having opened at fresh all-time highs on Wednesday morning, ended the day’s trading session deep in red. S&P BSE Sensex closed 694 points lower at 43,828 while the 50-stock Nifty ended at 12,858 levels. Only ONGC and Power Grid were the two stocks among the 30 Sensex constituents that ended with gains. Axis Bank shares fell 3.48% while Kotak Mahindra Bank tumbled 2.94%. All index heavyweights closed deep in red. Among Asian peers, Shanghai Composite, KOSPI, and Kodaq ended in red.
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Highlights
After having hit fresh all-time highs on Wednesday morning, Sensex and Nifty saw a sharp sell-off as stock markets closed deep in red. Sensex and Nifty tanked 1.5% each during the day’s trade. Only three of the 30 Sensex constituents closed with gains. ONGC gained 6.25% while Power Grid and IndusInd Bank were up less than half a percent. Axis Bank and Kotak Mahindra Bank were the top drags. India VIX shot up 9.94% to end above 23 levels. Broader markets mirrored the sharp fall.
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Profit booking, after Sensex and Nifty hit fresh all-time highs, pushed indices to close lower as they tanked over 1.5% each on Wednesday.
Snapping their 3-day gaining streak, Sensex and Nifty closed deep in the red on Wednesday. Sensex fell 694 points while Nifty 50 closed neat 12,850 levels.
Extending losses, the benchmark index tumbled 700 points just minuted before the closing.
After being down 11% during the day, Snowman Logistics -- a smallcap stock -- is now up over 10%, hitting the upper circuit. Shares of the firm were trading at Rs 60.90 per share.
Sensex fell 670 points and as it gave up 44,000 levels. Nifty 50 was nearing the 12,850 levels. Both Sensex and Nifty set fresh all-time highs during the morning trading hours only to later tank and erase all gains.
Nine out of the 13 stocks BSE 200 constituents that hit their respective 52-week highs were now trading in the red. The included, Eicher Motors, Tata Steel, and HDFC Bank.
Sensex was down over 940 points from day's highs while Nifty 50 gave up 12,900 less than hour before the closing bell on Dalal Street on Wednesday.
With less than an hour left for the closing bell Sensex was still deep in red, down over 600 points. Nifty 50 was below 12,900.
"The aviation sector is rebounding from the slump, but we expect at least another year before normalcy. Domestic travel is gaining momentum, but international travel is hobbled by severe restrictions," said Edelweiss Securities. The brokerage firm has a Buy rating on SpiceJet and a Hold rating on IndiGo.
ONGC shares are up 5%, followed by SBI, Power Grid, IndusInd Bank, and Bajaj Finserv despite a sharp sell-off in equity markets.
India’s stock market rally is set to continue and hit new record highs in 2021, according to a Reuters poll of equity strategists who overwhelmingly expected corporate earnings to return roughly to pre-pandemic levels within a year. The Nov. 12-24 Reuters poll of over 35 equity strategists predicted the BSE Sensex index, which is currently trading at a record high, would set new all-time peaks in the next year. It was forecast to rise about 3% from Tuesday’s high to 45,750 by mid-2021.
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Sensex fell further to give up 44,000 levels as the benchmark erased 630 points. HDFC Bank, HDFC, Infosys, and Kotak Mahindra Bank were the top drags.
The fear gauge of domestic equity markets Sensex and Nifty was seen surging higher as the stock markets stood witness to a sharp sell-off. India VIX was up 8%, sitting at 22.82.
BSE Midcap index was down 1.37% while BSE Smallcap index slipped 1.15%. Nify Junior was down 1.38%. Nifty 100 and Nifty 100 indices were down 1.31% each.
S&P BSE Sensex was down over 500 points on Wednesday as the index erased all gains after having opened at fresh all-time highs. Nifty 50 was below 12,900.
Among the top gainers on Sensex are ONGC, which is up 6%, followed by IndusInd Bank, SBI, and Power Grid.
Shares of Lakshmi Vilas Bank continued to face selling pressure for the seventh consecutive day and have tanked over 55 per cent during the period amid negative reports surrounding the company. On Wednesday, the stock tanked 4.79 per cent to Rs 6.95 -- its lower circuit limit as well as one-year low -- on BSE.
The end of the Trump era in the US signals a shift away from the far-right economic policies of the last administration, which will shake up some of the capital that was tied in long term US equities and see it being allocated elsewhere.
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India’s economy saw a significant improvement in various macroeconomic indicators in the month of October 2020; however, it is unlikely to sustain after the festive season. The spikes in the production seen in various sectors in the month of October are an exaggeration of the true recovery on the ground, as those have been driven by a large component of pent-up demand that may not sustain after the festive period is over, rating agency ICRA said in a report. Prominent base effects have also supported the trends in certain sectors, the report added.
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With the broader market participating in the recent stock market rally, small and midcap stocks have surged. At times, midcap and small indices have even managed to outperform the benchmark indices. Between October 1 and yesterday’s closing Nifty 50 has gained 14.8%, going from 11,300 levels to 13,000. On the other hand, the Nifty Midcap 50 index has managed to zoom 15% in the same time period. Abundant liquidity, and healthy balance sheets are the key factors that are aiding the move towards midcap and smallcap stocks, analysts say.
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"Profit booking seen in Indian indices, Indian indices open higher on back of positive global market clues. Indices fail to sustain morning gain, Nifty slips from day high of 13145 to 13000, We expect market some profit booking in coming days. Today S&P BSE OIL & GAS (up 0.49% ), S&P BSE Energy (up 0.46%) while S&P BSE Healthcare (down 1.22%), S&P BSE CAPITAL GOODS (down 1.3%) Global Market update - DOW Jones up by 454 points (up 1.54%) and NASDAQ up by 15649 points (up 1.31%). Indian Indices Nifty and Sensex down by 53 points (0.41%) and 198 points (0.44%) respectively," said Yash Gupta Equity Research Associate, Angel Broking.
New-age investment platform Groww has waived account maintenance on its demat cum trading account, thereby providing investors with the flexibility to invest in the stock market without worrying about signing up for monthly, quarterly or annual maintenance charges.
“Yesterday Gold prices closed 1.81% lower at 48,585 levels and silver closed 1.49% lower at 59,621 levels on the back of recovery in global equity market and development on the front of corona virus vaccine. Gold ETF holding is also falling more than a million ounce in this month. In international market Gold is trading at its 4 months low level at $1824 per ounce and silver is trading at $23.41 per ounce. Wall Street’s Dow hit historic highs above 30,000 points in a rally that pulled the three major U.S. stock indexes up by about 1.5% each. The trend of Gold and silver now become down and expectation of safe haven demand of this asset may fade out. As for today traders can go for sell in gold at Rs 48800 levels with the stop loss of Rs 49200 levels for the target of 48300 levels. They can also go for sell in Silver at Rs 60,000 levels, with the stop loss of 60800 levels and for the target of 58800 levels. Gold may test $1760 to $1785 per ounce levels soon," said Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking.
Sensex fell over 400 points from day's high while Nifty 50 gave up the crucial 13,000 levels.
RIL share price has slipped over 2% in the last one month while the Nifty 50 has zoomed 11.5% in the same time period. Index heavyweight Reliance Industries Ltd’s recent underperformance follows its 165% rally between March and September. However, now trading at Rs 1,984 per share, down 20% from its 52-week high of Rs 2,369, has RIL corrected enough for investors to start accumulating it again?
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Erasing all losses and slipping into the red, Sensex was trading voer 150 points lower. Only 8 of the 30 Sensex constitutients were trading with gains.
Sensex and Nifty gave up all gains and turned red on Wednesday. IT sector stocks were seen bleeding while bank stocks were up with gains.
Leading private sector lender HDFC Bank's shares surged 1.2% on Wednesday morning. With this the market capitalisation of HDFC Bank shares crosses Rs 8 lakh crore mark.
"We have successfully achieved the Nifty target of between 13100-13200 this morning. This zone could prove to be a resistance zone and there is every possibility we witness profit booking. Traders can utilize the current market level to lighten up on their positions and use a trailing stop loss method. The support is now upgraded to 12800," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
Top drags on Wednesday morning was Tech Mahindra down over 1%. It was followed by Mahindra & Mahindra and Nestle India.
Among the top gainers on Sensex were ONGC, HDFC Bank, and Maruti Suzuki. These were followed by other bank stocks such as ICICI Bank, Axis Bank, and SBI. ONGC shares zoomed 4.6%.
Sensex opened at 44,749 points while the Nifty 50 began trading at 13,130 setting fresh all-time highs on Wednesday morning.
Sensex surges 226 points during the pre-open session. The 50-stock Nifty was at 13,130 levels.
"The upside momentum in Nifty seems to have picked up with a sustainable upside above the hurdle of 12970 levels. Further decisive upmove could have a sharp positive impact on the market and that could open the next upside targets of around 13500-13600 levels in the near term. Immediate support is now placed at 12950," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
S&P BSE Sensex was trading over 150 points higher during the pre-open session on Wednesday. Nifty 50 breached 13,100.
Foreign Institutional Investors pumped in Rs 4,563 crore into domestic securities on Tuesday as they continued to pump funds into Indian markets.
Nifty breached 13,100 in the pre-open session on Wednesday. Sensex too was seen gaining.
With equity markets now trading at their highest ever levels, some analysts suggest treading cautiously from here on. Although with the broader markets participating in the rally, corrections are being bought into, however, taking a stock specific approach is being advised. SGX Nifty was trading over 55 points higher on Wednesday morning hinting at a positive start for domestic markets. Global Cues too were positive with Wall Street closing at fresh highs and Asian peers mirroring the upmove. Hang Seng, Topix and Nikkei 225 were up over 1% each.
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