Market LIVE: Nifty ends above 17,130, Sensex tops 57,550 for first time as bulls run amok; Airtel up 7.5%

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Updated: August 31, 2021 4:20:13 pm

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended at record closing high levels on Tuesday.

Share Market Today, Share Market LiveBank Nifty index gained 0.21 per cent to end at 36,424, while Nifty Metal index added 1.54 per cent

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended ar record closing highs on Tuesday, helped by positive global cues. The 30-share Sensex rose 663 points or 1.16 per cent to end at 57,552. The 50-pack Nifty settled at 17,132.20, up 201 points or 1.19 per cent. Bharti Airtel, Bajaj Finance, Bajaj Finserv, Asian Paints, TCS, Titan Company, Tech Mahindra and UltraTech Cement were among the top index gainers. On the contrary, Nestle India, IndusInd Bank, Reliance Industries Ltd (RIL) and Power Grid Corporation of India were top index laggards. Barring Nifty Media, all the sectoral indices were settled in the green. Bank Nifty index gained 0.21 per cent to end at 36,424, while Nifty Metal index added 1.54 per cent.

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Highlights

    16:20 (IST)31 Aug 2021
    Bulls help Sensex, Nifty scale fresh all-time highs again; here's what experts make of today's trade

    Bulls continued to pull domestic equity markets higher on Tuesday, setting fresh record highs. S&P BSE Sensex scaled a new all-time high of 57,625 during the day while Nifty 50 hit a record high of 17,153. However, both Sensex and Nifty slipped marginally from their highs to end at 57,552 and 17,132 -- up 1.19% each. Bharti Airtel, Bajaj Finance, Bajaj Finserv, Asian Paints, TCS, Titan Company, Tech Mahindra and UltraTech Cement were among the top index gainers. On the contrary, Nestle India, IndusInd Bank, Reliance Industries Ltd (RIL) and Power Grid Corporation of India were top index laggards. Bank Nifty index gained 0.21 per cent to end at 36,424, while the Nifty Metal index added 1.54 per cent. Except for Nifty Media, all the sectoral indices were settled in the green. 

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    15:38 (IST)31 Aug 2021
    Sensex, Nifty end at record closing highs

    BSE Sensex and NSE Nifty hit new landmarks on Tuesday. Sensex rose 663 points to end at 57,552. The 50-pack Nifty settled at 17,130, up 199 points.

    15:18 (IST)31 Aug 2021
    Nifty may head to 17,200 if it sustains above 17,000

    The market witnessed the continuation of a positive trend, after sustaining above the level of 16900. The market has reached an important resistance level of 17000. It is suggested that if the market sustains above the level of 17000, the market expects to gain momentum, leading to an upside projection till 17200-17250 level. the momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook. Ashis Biswas, Head of Technical Research at CapitalVia Global Research

    15:00 (IST)31 Aug 2021
    Bharti Airtel clarifies on Google investment news; stock up over 7%

    Being a significant player in the telecom and digital industry, Bharti Airtel receives interests from high quality investors and companies for its various businesses. The Company evaluates various opportunities of potential investor engagement and takes decisions in a judicious manner.

    14:37 (IST)31 Aug 2021
    Bank Nifty above 36,500 may trigger further up move

    The prevailing momentum across the board is strong, with midcaps and smallcaps also joining in the rally following the recent correction. If Nifty sustains above 17000 today, the up move is likely to extend towards 17200 in the next 2-3 days. That said, speaking from a short-term perspective, in the current up leg of Nifty, participation from banking stocks will be key. The Bank Nifty index has consolidated in a tight range for the entire month and is now attempting to break out of this range. If it sustains above 36500, it could finally start trending on the upside. Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS

    14:35 (IST)31 Aug 2021
    Nifty rally from 16000 to 17000 the second fastest 1000 pt up move from last year's low

    Nifty has scaled a new high today, touching the 17000 level for the first time. This rally from 16000 to 17000 has been the second fastest 1000 pt up move in Nifty from last year's low. One of the key reasons for the rally since yesterday has been recent suggestions from Fed Chair Powell that the Fed is in no hurry to hike interest rates. This in turn has fuelled the rally in risk assets, underpinning our markets as well. Abhishek Chinchalkar, CMT Charterholder and Head of Education, FYERS

    14:10 (IST)31 Aug 2021
    MCX Crude Oil September above 5000 could see 5060-5120 levels

    International oil prices are trading in the red on Tuesday afternoon trade in Asia amid concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries. Prices were weighed down as global producers plan to raise output and weaker manufacturing data from China. So, investors will be cautious ahead of OPEC+ review meeting tomorrow and inventory data over the next 2 days. Technically, WTI Crude Oil October above $67.50 level could see a Bullish momentum up to $69.10-$70.50 levels. Support is at $68.40-$67.70 levels. Domestic oil prices are also trading in the red on Tuesday afternoon trade, tracking overseas prices. Technically, MCX Crude Oil September above 5000 could see 5060-5120 levels. Support is at 5030-4980 levels. Sriram Iyer, Senior Research Analyst at Reliance Securities

    13:49 (IST)31 Aug 2021
    Should you subscribe to Ami Organics?

    Based on FY2021 numbers, the IPO is priced at a Price to Earning of 35.6 times and EV/EBITDA of 25.7 times at the upper price band of the IPO, which is on the higher side compared to the listed peer group. The company already has a higher market share of 70%-90% in Key API’s which will limit growth in the near future. Given the expensive valuation, we are assigning a NEUTRAL recommendation to the Ami Organics Limited IPO. Yash Gupta, Equity Research Analyst, Angel Broking

    13:31 (IST)31 Aug 2021
    All eyes on Q1 GDP data

    Indian benchmark had a cautious start today trading in the range of 16900-17000. Investors will be looking ahead to the GDP numbers released by the National Statistical Office (NSO). Traders will be getting some encouragement as exports from special economics zones (SEZs) grew during the April-June quarter. Some support will come with a private report that economic growth to be in the range of 14% to 23%.  Gaurav Garg, Head of  Research  CapitalVia Global Research

    13:29 (IST)31 Aug 2021
    Bank Nifty breaks out from 5-month consolidation

    Decent F&O rollovers, Fed’s Dovish stance, weakening dollar & FDI numbers ensure that Nifty crosses the coveted 17,000 mark. After the consolidation of June & July, Nifty has taken off in August adding around 8% gains in August. Market breadth and thurst have vastly improved as compared to last week along with the Banking Index giving a breakout from its 5-month consolidation. Rahul Sharma Head Technical and Derivatives Research, JM Financial Services

    13:28 (IST)31 Aug 2021
    Rise in VIX will help option buyers in near-term

    Technically, It is bouncing back from the major support area of 11-10 and there is limited downside while a bounceback towards 17 can be expected if there will be any small correction in the market. The rise in VIX will help option buyers in the near term. Santosh Meena, Head of Research, Swastika Investmart Ltd

    13:27 (IST)31 Aug 2021
    India VIX inching higher despite rally in Sensex, Nifty

    India VIX is inching higher despite markets are rallying. It is behaving contrary to how it behaves normally. It is not always necessary that when the market goes up then India VIX should fall because VIX rises when there is aggressive buying in options whether the buying in call or put. Currently, there are two forces are acting in support of India VIX. First, Call writers are on the back foot and they are covering their shorts in panic while there is some hedging by institutional investors by buying put options as markets are a little overbought in short term. Santosh Meena, Head of Research, Swastika Investmart Ltd

    13:06 (IST)31 Aug 2021
    Broader market check

    Broader markets were mirroring the up-move on Tuesday. Midcap and Smallcap indices on NSE were up 0.65% - 0.78%.

    12:55 (IST)31 Aug 2021
    Sensex nears 57,200

    Sensex was closing in on 57,200 while the NSE Nifty 50 index was well above 17,000, hitting a new all-time high at 17,031.

    12:42 (IST)31 Aug 2021
    Kotak Bank to sell 20 cr shares of Airtel Payments Bank to Bharti Enterprises for Rs 294 cr

    Kotak Mahindra Bank on Tuesday said it will sell 20 crore shares held in Airtel Payments Bank (APBL) for a cash consideration of Rs 294 crore or more to Bharti Enterprises Ltd. A share purchase agreement has been executed by the bank for divestment of 20,00,00,000 equity shares (8.57 per cent stake) held by Kotak Mahindra Bank Ltd in APBL. These shares were acquired for Rs 200 crore invested in tranches during calendar years 2016 and 2017, the bank said in a regulatory filing.

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    12:21 (IST)31 Aug 2021
    Volatility rises along with Dalal Street

    India VIX, the volatility index, was up 4% at 13.8 levels on Tuesday as domestic markets reached fresh all-time highs. Sensex was above 57,100 while the NSE Nifty 50 claimed 17,000.

    12:18 (IST)31 Aug 2021
    Nifty clinches 17,000, hits fresh record high; adds 1,000 pts in just 19 trading days

    Bulls propelled domestic market benchmarks BSE Sensex and Nifty 50 to new record high levels on Tuesday, helped by positive Asian cues. NSE’s Nifty 50 hit the crucial 17,000-mark for the first time, rising 84 points from yesterday’s close. The 30-share Sensex too surged to a new high of 57,124.78, surging 235 points. Nifty has risen nearly 2 per cent in the last five days, while it has added 7 per cent in the past one month. It took Nifty 50 index just 19 trading sessions to climb to 17,000 from 16,000. 

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    12:16 (IST)31 Aug 2021
    Nifty hits 17,000

    NSE NIfty 50 today crossed 17,000 mark for the first time ever, hitting an all-time high of 17,001 as bulls asset control on Dalal Street. Sensex was above 57,100.

    12:02 (IST)31 Aug 2021
    Vijaya Diagnostics IPO opens tomorrow; grey market premium weak, should you subscribe?

    Vijaya Diagnostics Rs 1,894 crore IPO (initial public offering) will open for subscription tomorrow on September 1. The Sout-India based integrated diagnostic chain’s IPO is entirely an Offer For Sale (OFS) by existing shareholders of the company and won’t include any fresh issue of equity shares. The OFS will see promoter  S. Surendranath Reddy sell part of his holdings in the company along with investors such as Karakoram Ltd and Kedaara Capital AIF 1. Ahead of the public issue of the company, shares of Vijaya Diagnostics are trading with a weak premium of Rs 30 per share in the grey market, according to Yash Gupta, Equity Research Analyst, Angel Broking.

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    11:47 (IST)31 Aug 2021
    Ami Organics IPO: Reasonable valuation, strong product portfolio; check grey market premium, should you invest

    Ami Organics Rs 570-crore IPO is set to open for subscription on 1 September 2021, along with Rs 1,895-crore Vijaya Diagnostic Centre IPO. In the primary market, Ami Organics shares were quoting at a premium of Rs 122 over the issue price. In the grey market on Tuesday, Ami Organics shares were trading at Rs 732, a premium of 20 per cent, over the upper end of IPO price band, according to the people who deal in unlisted shares of the companies. 

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    11:29 (IST)31 Aug 2021
    Google removes 95,680 content pieces in July in India: Compliance report

    Google received 36,934 complaints from users and removed 95,680 pieces of content based on those complaints in July, the tech giant company said in its monthly transparency reports released on Tuesday. In addition to reports from users, Google also removed 5,76,892 pieces of content in July as a result of automated detection. The US-based company has made these disclosures as part of compliance with India’s IT rules that came into force on May 26.

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    11:04 (IST)31 Aug 2021
    Sensex support lies at 56,700

    Sensex made a lifetime high of 57124 today and it's currently trading around the same levels. It is in a strong bullish trend and is headed for 58000 in the next few sessions. Around 58000 we may see some consolidation and profit booking. It has strong support in the 56600-56700 range. Traders can use buy on dips strategy with strict stop-loss in current markets. Gaurav Udani, Founder & CEO, ThincRedBlu Securities

    10:33 (IST)31 Aug 2021
    India Q1 GDP preview: Strong double-digit growth expected; economy unfazed by Covid wave, base effect in play

    India’s economy is expected to have grown in double digits during the April-June quarter of this financial year, helped by a low base of the previous year. The expected rebound in economic growth would also stand testament to the strong consumer activity, unfazed by the second wave of the covid-19 pandemic. A recent poll of 41 economists conducted by news agency Reuters indicated that the gross domestic product (GDP) rose 20 per cent in the June quarter, compared to the record contraction of 24.4% in the same period a year ago. Meanwhile, the Reserve Bank of India’s Monetary Policy Committee expects June quarter GDP growth to be at 21.4%.

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    10:23 (IST)31 Aug 2021
    Gold Price Today, 31 Aug 2021: Gold jumps ahead of US jobs data; rates above 47,500 may take gold to Rs 48,000

    Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices edged higher in India on Tuesday, on the back of positive global cues. On Multi Commodity Exchange, gold October futures were trading Rs 125 or 0.27 per cent up at Rs 47,289 per 10 gram, as against the previous close of Rs 47,164. Silver December futures were ruling at Rs 63,836 per kg, up Rs 250 or 0.4 per cent. In the previous session, silver futures ended at Rs 63,587. 

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    09:37 (IST)31 Aug 2021
    Rupee may fall to 73.20

    The rising equities amid weak FII investment and a jump in COVID cases could be negatives for the Rupee in the near term. The 1/- fall in the USDINR pair over the last two trading sessions doesn’t justify any shift in fundamentals. It is just that RBI had let the market react on a free-float basis. This could be an opportunity for them to make a comeback and pile up their reserves to increase their hedges against hot inflows. Broadly, we are expecting that the recent steep fall in the USDINR pair to get cool down shortly near 73.20-30 levels and bounce back towards 73.80-74.00 in the near term. Amit Pabari, managing director, CR Forex Advisors

    09:27 (IST)31 Aug 2021
    Nifty IT jumps over 1%

    Barring Nifty Auto, all the sectoral indices were trading in the positive territory. Bank Nifty gained 0.32 per cent, while Nifty IT was up over 1 per cent.

    09:26 (IST)31 Aug 2021
    SBI, RIL, HDFC top Sensex losers

    M&M, L&T, State Bank of India (SBI), IndusInd Bank, Housing Development Finance Corporation (HDFC) and Reliance Industries Ltd (RIL) were among Sensex laggards

    09:24 (IST)31 Aug 2021
    Nifty approaches 17,000

    A distinguishing feature of this bull market which started in April 2020 is that it has been remarkably stable without any major correction. So, the newbie retail investors who entered the market since April 2020 (1.42 cr new Demat accounts opened in FY21) have been buying every dip, successfully. Now, with the Fed giving a commentary favourable to bulls, momentum is likely to take the Nifty to 17000. The flip side of this relentless bull run is the excessive valuation, which exposes the market to an unexpected sharp correction. This market has proved skeptics wrong, till now. Even while enjoying the party, investors should be prepared for a sharp correction. Partial profit booking is never a bad idea. IT stocks have turned a bit weak, perhaps due to dollar appreciation. But experience tells us that the performance of IT companies depends more on the deal wins than the exchange rate. So dips can be used to buy. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    09:23 (IST)31 Aug 2021
    HCL Tech, Bharti Airtel, Infosys, TCS top Sensex gainers

    HCL Tech, Bharti Airtel, Tech Mahindra, Asian Paints, Dr Reddy's Laboratories, Sun Pharma, Infosys, TCS, Titan Company among top BSE Sensex gainers

    09:21 (IST)31 Aug 2021
    Sensex tops 57,000, Nifty above 16,970

    BSE Sensex surged 115 points or 0.20 per cent to top 57,000 for the first time ever, Nifty jumped to trade at 16,974.75

    09:04 (IST)31 Aug 2021
    Sensex claims 57,000, Nifty trades at 16,980 in pre-open

    BSE Sensex surged 200 points to top 57,000 for the first time ever, Nifty 50 jumped over 50 points to trade at 16,980 in pre-open on Tuesday

    08:55 (IST)31 Aug 2021
    Bharti Airtel, Jindal Steel and Power, BPCL, Axis Bank, Maruti Suzuki, ONGC, NTPC stocks in focus

    Nifty futures slid further in trade, now down 40 points or 0.23 per cent to 16,925 on the Singaporean Exchange, hinting at a negative start for BSE Sensex and Nifty 50 on Tuesday. Investors will keenly watch GDP numbers for the first quarter (April-June) of FY21, which will be released by the Ministry of Statistics and Programme Implementation (MoSPI). Market participants will also watch the oil prices, rupee movement against US dollar and other global cues for further direction. 

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    08:31 (IST)31 Aug 2021
    Petrol and diesel price today Aug 31: Fuel rates unchanged for seventh day; check price in Delhi, Mumbai here

    Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of petrol and diesel have been left unchanged by oil market companies on Tuesday, for the seventh day straight. Today, petrol in the national capital costs Rs 101.49 per litre, while Diesel in the capital city is retailing at Rs 88.92 per litre. So far this week prices have been cut twice. The price of petrol was cut for the first time in 35 days on Sunday. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.

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    08:13 (IST)31 Aug 2021
    India's GDP growth likely touched a record in April-June - Reuters poll

    Indian economic growth likely touched a record high in the quarter through June, reflecting a very weak base last year and a rebound in consumer spending, a Reuters poll found. (Reuters)

    08:13 (IST)31 Aug 2021
    US stocks end higher in overnight trade

    While the S&P 500 and Nasdaq hit record highs on Monday. The Dow Jones Industrial Average was up 0.1 per cent, the S&P 500 and the Nasdaq Composite added 0.6 per cent and 0.9 per cent, respectively.

    08:12 (IST)31 Aug 2021
    SGX Nifty down in early trade

    In early trade, Nifty futures were trading 30.50 points or 0.18 per cent down at 16,934 on Singaporean Exchange. 

    08:12 (IST)31 Aug 2021
    Are bulls getting exhausted after strong rally? 5 things to know before today’s opening bell

    Bulls charged ahead on the first trading session of the week and helped benchmark indices scale fresh all-time highs once again on Monday. On the closing bell, S&P BSE Sensex was at 56,889 while the NSE Nifty 50 sat at 16,931 — their highest ever closing levels. Broader markets mirrored the up-move with certain midcap and smallcap indices outperforming the benchmark indices. Bank Nifty managed to breach the 36,000 mark, gaining 2%. On Tuesday morning, however, SGX Nifty was down with losses, signalling some negative momentum ahead of the day’s opening bell. Global cues were mixed after Wall Street ended mixed and Asian markets slipped.

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