Share Market Highlights: Sensex ends flat with positive bias, Nifty at 17369; Airtel, Nestle top gainers

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Updated: September 9, 2021 4:26:24 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices closed flat with marginal gains on the weekly F&O expiry session. Broader markets outperform.

Share Market Today, Share Market LiveIndia VIX closed with losses. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Benchmark indices once again closed flat but this time with marginal gains. The weekly Futures and Options expiry session saw Sensex add 54.81 points or 0.09% to end at 58,305 while NSE Nifty 50 gained 15 points to closed at 17,369. Bank Nifty failed to hold its intraday gains, ending 0.23% lower at 36,683. Broader markets outperformed headline indices. Bharti Airtel surged 2.73% to end as the top Sensex gainer, followed by Nestle India, Tata Steel, and Bajaj Finserv. Titan was the worst Sensex performer on Thursday, falling nearly 1%. It was followed by Ultratech Cement, Bajaj Auto, Axis Bank, and HDFC Bank.

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Highlights

    16:23 (IST)09 Sep 2021
    Sensex, Nifty end F&O expiry session in green, bullish trend intact; Stock market to remain closed tomorrow

    Sensex and Nifty closed with gains on the weekly Futures and Options expiry session. After dancing between gains and losses for most of the day, Sensex closed 54.81 points higher at 58,305 while Nifty 50 added 15 points to end at 17,369 -- both gaining 0.09%. Bharti Airtel surged 2.73% to end as the top Sensex gainer, followed by Nestle India, Tata Steel, and Bajaj Finserv. Titan was the worst Sensex performer on Thursday, falling nearly 1%. It was followed by Ultratech Cement, Bajaj Auto, Axis Bank, and HDFC Bank. Bank Nifty failed to hold intraday gains and ended 0.23% lower at 36,683. Broader markets outperformed headline indices. 

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    15:33 (IST)09 Sep 2021
    CLOSING BELL

    Domestic benchmark indices closed flat with marginal gains on the weekly F&O expiry session. Broader markets outperform. India VIX ends below 14 levels.

    15:22 (IST)09 Sep 2021
    Sensex, Nifty look set to end in green

    Sensex and Nifty were trading with gains with minutes before the closing bell. Nifty was above 17,350 while Sensex was above 58,300.

    15:15 (IST)09 Sep 2021
    US stock markets could witness pullback soon; watch out for these two factors

    Wall Street equity indices scaled fresh highs in August, without the backing of any economic or profit fundamental, said Lisa Shalett, Chief Investment Officer, Morgan Stanley Wealth Management while adding that this up-move has pushed US stocks into the overpriced zone. Looking ahead, Shalett added that two factors could now serve as catalysts for a near-term pullback in stock indices. The NASDAQ gained 4% during the previous month while S&P 500 jumped 2.9% and Dow Jones inched 1.9% higher. The three benchmark indices scaled all-time highs in August.

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    15:05 (IST)09 Sep 2021
    Sensex, Nifty in green

    With minutes left before the closing bell, Sensex and Nifty bounced back into the positive territory with marginal gains. 

    14:48 (IST)09 Sep 2021
    Large caps up for correction

    "There is s slight risk-off mode in global markets during the last few days and this has impacted the bullish sentiments in India too. Many experts feel that there can be a correction in the large caps that have been leading the rally this year. So part of the fresh money is now moving into new areas like PSU banks. But this is likely to be a short-term trend," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. 

    13:51 (IST)09 Sep 2021
    Sensex, Nifty trim losses

    Sensex and Nifty have trimmed losses as Dalal Street nears the closing bell. Headline indices were trading flat, still with a negative bias.

    12:35 (IST)09 Sep 2021
    Sensex extends losses

    Sensex once again slipped more than 100 points on Thursday as domestic benchmark indices continued to move in a range.

    12:14 (IST)09 Sep 2021
    Challenging time for Rupee, will it ‘Make’ or ‘Break’ 72.80 mark? 

    The ideal response to the thought could have had a run-through every exporters and importers' mind while Rupee moved from 74.20 to 73 levels. With markets remaining too volatile, it gave a “WIN-WIN situation” for both importers and exporters over the last few months. When the rupee moved to 72.40 levels in May to mid-June importers cheered, while when the rupee went to 74.95 levels in July exporters cheered and now with 73 levels back, importers seem happy again. The ones who maintained a defined process and structured plan for covering their exposures were not much impacted.

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    11:31 (IST)09 Sep 2021
    Zomato share price may rally 24% more; Kotak Securities says ‘buy’, valuation justified

    Kotak Securities has initiated coverage on Zomato stock with a ‘buy’ rating, saying that the share price could rally another 24% from the current levels. Zomato’s stock valuations are justified by the superior growth expected, the brokerage firm said in a note. Kotak has pinned a fair value of Rs 175 per share on Zomato. The food delivery giant began trading on Dalal Street in July this year after its Rs 9,375-crore IPO was oversubscribed. The stock has rallied a whopping 84% from the upper end of the IPO price of Rs 76 per share.

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    11:31 (IST)09 Sep 2021
    Zomato share price may rally 24% more; Kotak Securities says ‘buy’, valuation justified

    Kotak Securities has initiated coverage on Zomato stock with a ‘buy’ rating, saying that the share price could rally another 24% from the current levels. Zomato’s stock valuations are justified by the superior growth expected, the brokerage firm said in a note. Kotak has pinned a fair value of Rs 175 per share on Zomato. The food delivery giant began trading on Dalal Street in July this year after its Rs 9,375-crore IPO was oversubscribed. The stock has rallied a whopping 84% from the upper end of the IPO price of Rs 76 per share.

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    11:05 (IST)09 Sep 2021
    India VIX down in red

    India VIX, the fear gauge of the domestic market, was down 1.5% on Thursday. Benchmark indices were up with gains.

    09:57 (IST)09 Sep 2021
    Smallcaps outperform

    Small-cap indices on NSE were outperforming peers on Thursday. Nifty Smallcap 50 was up 0.58% while the Nifty Smallcap 100 was up 0.63%. Nifty 50 was down with marginal losses.

    09:29 (IST)09 Sep 2021
    17450 may act as immediate resistance

    Asian market declined early today after a dip seen in the global market. Investors await more indications that economic reopening can overcome challenges posed by the delta variant. The government has approved an increase in minimum support prices for rabi crops for the next marketing season, the highest absolute increase in MSP was for lentils, rapeseeds and mustard by Rs 400 per quintal. Jindal Steel and Power Ltd. has halved the debt in its Australian arm as it aims to eliminate the metric in the subsidiary by the year ending March 2023. Overall Indian indices look on a positive territory with regular foreign capital inflows, strong domestic data. On the technical front, 17450 may act as immediate resistance for Nifty 50 followed by 17,500 while 17,100 remains a crucial support for Nifty 50.

    ~ Mohit Nigam, Head - PMS, Hem Securities

    09:27 (IST)09 Sep 2021
    Returns to be below par in the years ahead

    "A major global trend post the Covid outbreak and the consequent crash in March 2020 and the incredible market recovery since April is the arrival and dominance of retail investors. This trend  is robust and conspicuous in India. Importantly, retail investors have made money during this rally and continue to pour money into markets. A healthy development is the sustained increase in SIP inflows which have touched Rs 9923 cr during August. Retail investors in SIPs should stay put with a minimum investment horizon of 4 years since returns in the next couple of years may turn out to be below par due to high present valuations. Globally markets have taken a breather from the risk-on mode. India too is likely to follow suit. FIIs are back to selling mode. An important trend is Bank Nifty gathering strength. Jio Phone Next launch tomorrow will be keenly watched by the market," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    09:19 (IST)09 Sep 2021
    OPENING BELL

    Domestic benchmark indices started the day flat. Bank Nifty was up in the green. India VIX was down 2%.

    09:07 (IST)09 Sep 2021
    Sensex, Nifty down in red

    Sensex gave up all gains to trade with losses in the pre-open session, Nifty regained 17,300 but was still in red.

    09:02 (IST)09 Sep 2021
    Sensex gains, Nifty falls

    Sensex was up with gains during the pre-open session on Thursday while Nifty 50 was down with losses, giving up 17300.

    08:57 (IST)09 Sep 2021
    Nifty needs to hold above 17300 for further upside; Watch Kotak Bank, HDFC AMC stocks for gains

    The Nifty index opened flat to positive and remained slightly dull in the first half of the session on Wednesday. It failed to hold 17350 and drifted towards 17250 zones but picked up during the next half to close on flattish note. It breached its previous day’s low but buying interest at declines made it to close above 17350 levels. It formed a Hammer sort of candle on daily scale with long lower shadow indicating buying interest is intact at any declines. Now it has to continue to hold above 17300 zones to extend the move towards 17500 and 17777 zones while on the downside support is seen at 17200 and 17050 levels.

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    08:41 (IST)09 Sep 2021
    Buy these two stocks with strong technical setup; Nifty uptrend intact despite consolidation

    Nifty has been consolidating in a tight range for the last few sessions. The index nevertheless remains in an uptrend. On the daily time frame, Nifty has recently made higher bottoms at 16162, 16376 and 16565 and continues to trade above the 20 and 50 day SMA, which gives further evidence of an intermediate uptrend.

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    08:32 (IST)09 Sep 2021
    Nifty expected to open with losses

    "Nifty is expected to open negative at 17330 , down by 30 points from yesterday's close. Today is the weekly expiry and we may get to see some volatility. Nifty has support at 17300 and 17250. Nifty has been consolidating since the last few days, any breakout above the highs may take Nifty to 17480 and 17520 levels. Buying on dips with strict stop-loss can be a good strategy," Gaurav Udani, CEO & Founder, ThincRedBlu Securities. 

    08:27 (IST)09 Sep 2021
    Large caps offer better margin of safety

    Going ahead global cues would be actively tracked as fear of economic slowdown looms. All eyes would be on ECB council meeting due on this Thursday as its expected to start tapering its stimulus programme soon given the surge in inflation to 10-year high. The market might consolidate for some time on account of weak global cues.  Even valuations are also moving beyond comfort zones and hence could lead to bouts of profit booking and increase in volatility. But the overall sentiment in the domestic market remains positive, supported by improving economic data and positive earnings expectation. Large caps offer better margin of safety in the current environment and could continue to remain in focus in the near term as well.

    ~Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services

    08:25 (IST)09 Sep 2021
    TCS, Infosys, Jindal Steel Power, UCO Bank, ONGC stocks to be in focus today

    SGX Nifty was down 46 points at 17,337 on Thursday morning ahead of the weekly expiry session, hinting at negative momentum building for domestic equities. Sensex and Nifty have closed with marginal losses for two consecutive days now. Global cues were also negative after NASDAQ, Dow Jones, and S&P 500 closed with losses on Wednesday. “The present short term consolidation movement is expected to end soon and that could open a decisive upside bounce from the lows in the next 1-2 sessions. The confirmation of higher bottom is likely to pull Nifty towards 17550-17600 levels by next week. Immediate support is placed at 17250 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

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    07:53 (IST)09 Sep 2021
    SGX Nifty deep in red

    SGX Nifty was down 50 points on Thursday morning. Nifty futures trading with losses could indicate a gap down opening . 

    07:52 (IST)09 Sep 2021
    Govt appoints 10 merchant bankers; Goldman, Citi, Nomura, other for LIC IPO

    Accelerating preparation to bring in the initial public offer (IPO) of insurance behemoth Life Insurance Corporation by March 2022, the department of investment and public asset management (DIPAM) on Wednesday appointed 10 bankers, including Goldman Sachs (India) Securities and JP Morgan India.

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