Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic headline indices witnessed a tug of war between bulls and bears on Tuesday that ended with Sensex and Nifty closing in positive territory. 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. Bank Nifty zoomed 1% while India VIX closed flat at 19 levels. Mahindra & Mahindra was the top gaining stock, up 4.18% on Sensex, followed by Bajaj Finserv and Tata Steel. Infosys was the laggard, down 1.7%, accompanied by TCS, HUL, and Tech Mahindra.
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Ending their two-day losing streak, domestic markets soared higher on Tuesday. Headline indices witnessed a tug of war between bulls and bears on Tuesday that ended with Sensex and Nifty closing in positive territory. 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. Mahindra & Mahindra was the top gaining stock, up 4.18% on Sensex, followed by Bajaj Finserv and Tata Steel. Infosys was the laggard, down 1.7%, accompanied by TCS, HUL, and Tech Mahindra. Bank Nifty zoomed 1% while India VIX closed flat at 19 levels.
Sensex added 257 points or 0.44% on Tuesday to close at 59,031 while the NSE Nifty 50 settled at 17,577 after a volatile trading session.
Sensex was above 59,100 ahead of the closing bell, zooming more than 400 points while Nifty 50 breached 17,600.
Sensex breached 59000 once again, just ahead of the closing bell. Nifty 50 was closing in on 17,600.
TCS, Infosys, HCL Technologies, Tech Mahindra, and Wipro were all in the red on Tuesday. IT stocks were down after margin pressure forced the big IT firm to cut variable pay.
Sensex and Nifty trimmed gains further with only few minutes left before the closing bell.
Sensex was below 59000 but still trading with gains. The index had breached the said levels earlier in the day but near the closing bell, gains were trimmed with Sensex sitting shy if 59000.
Nifty IT index was the only sectoral index in the red on Tuesday. Bank Nifty was up 0.79% while Nifty Auto zoomed 1.6%.
Mahindra & Mahindra was the top Sensex gainer, up 3.44%, followed by Bajaj Finsev, Tata Steel, and Titan.
Sensex and Nifty have soared 14% from June lows as Foreign Institutional Investors (FII) returned to Dalal Street and inflation seemed to be cooling down. On Tuesday, Sensex and Nifty were dancing between gains and losses as bulls and bears engaged in a tug-of-war after the recent run-up. It may be prudent to stick with stock-specific action until volatility subsides on Dalal Street. HDFC Securities has picked two stocks that they believe have the potential to help investors pocket as much as 24% returns in the next 2 quarters. These include Kansai Nerolac Paints, Apcotex Industries.
Homegrown feminine hygiene brand Niine is planning to increase capacity, and has already been awarded the sanction under the PLI scheme for the first phase of expansion with the investment of more than Rs 135 crore in plant and machinery. Niine had applied under the PLI scheme for capacity expansion with proposed investment of more than Rs 500 crore in phases. The brand was selected for the PLI Scheme for Textile Industries, approved by the Government of India, this July. The investment, said Amar Tulsiya, Founder and CEO, Niine, will be made in Gorakhpur, Uttar Pradesh, where the brand has its existing facilities. “In total, 61 projects have been selected all over India. The same will be funded by internal cash accruals and PE fund raise as well,” he said.
US Fed Chairman Jerome Powell is scheduled to make a speech later this week in a symposium held in Jackson Hole valley, Wyoming, USA. Powell is expected to correct market expectations from the last Fed meeting in July. In July’s meeting, the Fed recognised that some ‘recent indicators of spending and production have softened’. This led to people saying, ‘The Fed has taken a dovish shift’. There was then a run in equities, a drop in the US Dollar, and a drop in yields as markets looked for a ‘dovish pivot’. Powell is likely to correct this perception with a more hawkish stance in his speech at the Jackson Hole symposium on Friday, according to economists, market analysts.
Sensex and Nifty were up with gains once again on Tuesday. The headline indices have been battling continued volatility.
Companies and banks in India could feel the bite of rising rates and inflation, but rated firms are better cushioned to withstand the pressure, S&P Global Ratings said on Tuesday. It said that further hike in interest rates is on the cards as the inflation remains above the RBI's upper tolerance limit of 6 per cent despite a 140 basis points increase in the policy rate in the current fiscal year.
India VIX, the volatility gauge of domestic markets, was up in the green on Tuesday. The fear gauge was sitting above 19 levels.
Indian equity markets were volatile on Tuesday as tepid global mood kept investors on sidelines. NSE Nifty 50 index was testing the 17,500-mark, while the S&P BSE Sensex was flat at 58,800 levels. Among individual stocks, shares of Infosys dropped over 2 per cent after the IT major slashed average variable payout for the June quarter. “The market mood has suddenly changed after the release of the Fed minutes which indicate steeper rate tightening than what the market had discounted. Now, the focus will be on what the Fed chief Powell will say at the Jackson Hole symposium on Friday,” said V K Vijayakumar of Geojit Financial Services.
The ever-rising carbon footprint will damage the world permanently, and what’s even more concerning is that India stands 3rd on the list of ‘Top 10 Polluting Countries’ after China and the US. The after-effects of pollution can already be felt in the air and our bodies. As we all know, the climate crisis is on top of the list for many nations. This has also been the driving force behind India’s electric mobility commitment toward a net-zero emissions economy by 2070.
Government data revealed that India's gold imports increased 6.4% to $12.9 billion during April to July of this fiscal year as a result of strong demand, thus jewellery stocks should be kept an eye on. On the technical front, immediate support and resistance in Nifty 50 are 17300 and 17800 respectively. Bank Nifty immediate support and resistance are 37700 and 38800 respectively.
~ Mohit Nigam, Head - PMS, Hem Securities
NSE Nifty 50 index target has been raised to 20,057 by analysts at domestic brokerage and research firm Prabhudas Lilladher. Analysts see multiple tailwinds for stock markets, barring the near-term volatility. “Festival demand from urban middle class is expected to remain strong, which will enable good 2Q and 3Q will show benefits of correction in commodities. We suggest accumulating fundamentally strong companies with business moats in uncertain times,” analysts said in a note. Nifty 50 index has climbed 14% from the lows on June helped by positive foreign fund inflows. The target price set for June 2023 by Prabhudas Lilladher would see Nifty 50 rise 15% from current levels.
Sensex and Nifty 50 were once again down in the red on Tuesday. Both headline indices trimmed gains and turned negative.
Apple Inc. plans to begin manufacturing the iPhone 14 in India about two months after the product’s initial release out of China, narrowing the gap between the two countries but not closing it completely as some had anticipated.
Sensex and Nifty were witnessing a tug of war between bulls and bears on Tuesday morning.
Infosys share price on Tuesday fell over 2% on NSE. The drop in share price comes after it was reported that Infosys has reduced the variable payout for employees to about 70% for the first quarter of FY23, a trend seen across the industry, due to pressure on margins, high employee costs.
Bulls were attempting to gain control as Sensex and Nifty rose close to 0.4% each on Tuesday, after having opened with losses.
Sensex and Nifty trimmed all losses to turn positive on Tuesday morning as investors went bottom fishing on Dalal Street. Sensex was trading flat with a positive bias along with Nifty 50.
Sensex was down 200 points while Nifty regained 17,400 as the headline indices tries to trim losses after opening deep in red.
Sensex fell more than 350 points or 0.65% on Tuesday's opening bell as bears remained in control on Dalal Street. Nifty 50 index was below 17400, falling 0.6%.
Sensex was down 700 points in the pre-open session, hovering around 58,000 levels while Nifty was just shy of 17300.
Sensex nose-dives in pre-open session, down 900 points. Nifty 50 gives up 17000.