Share Market Highlights: Sensex nosedives, ends at 59189, Nifty closes at 17646; IndusInd Bank top index drag

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Updated: October 6, 2021 4:00:38 pm

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets witnessed heightened volatility on Wednesday as headline indices plummeted during the dying hours of trade to finish deep in red.

Share Market Today, Share Market LiveIndia VIX soared 5.67% on Wednesday. (Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets traded with gains for most of Wednesday’s trading session but failed to sustain at the highs and closed deep in red. S&P BSE Sensex nosedived 555 points or 0.93% to end at 59,189 while the NSE Nifty 50 index plummeted 176 points or 0.99% to end at 17,646. Bank Nifty held on to gains until the dying hour but came under attack from bears who forced the index 0.58% lower. Broader markets followed suit and closed with losses. India VIX, the volatility gauge, soared 5.67% to end at 17.33 levels. Only three of thirty Sensex constituents closed with gains. HDFC Bank was the top gainer, jumping 1.24%, followed by Bajaj Finance and HDFC. Deep down in red was IndusInd Bank as the lender tanked 3.38%, followed by Tata Steel, Bajaj Auto, and Sun Pharma.

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Highlights

    15:49 (IST)06 Oct 2021
    Uptrend to not resume unless Nifty crosses 17,950

    "The Index was unable to sustain at higher levels and nosedived thereafter. Strong support for this market lies between 17400 and 17500. This level was respected the last time too. If we are unable to repeat this, we could plummet further to 17200. On the upside, unless we do not get past 17950, the uptrend will not resume and if we conquer it, 18200 can be the next achievable target," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

    15:47 (IST)06 Oct 2021
    CLOSING BELL

    Domestic equity markets witnessed heightened volatility on Wednesday as headline indices plummeted during the dying hours of trade to finish deep in red.

    15:32 (IST)06 Oct 2021
    Sensex, Nifty to get volatile in coming weeks

    A daily closing below 17400 could lead to a sharp correction till 16950. Nifty Bank looks weaker and has been unable to close above 38000 successfully. Technically, a daily close below 36860 could trigger a sell-off till 35900 & 35150. Investors should stay cautious as markets could get volatile in the coming weeks. Pavitraa Shetty, Co-founder & Trainer, Tips2Trades

    15:30 (IST)06 Oct 2021
    HDFC twins trade in green, even as Sensex tanks 600 pts

    HDFC twins and Bajaj Finance were the only stocks trading in green

    15:28 (IST)06 Oct 2021
    Sensex tanks over 600 points

    BSE Sensex tumbled 630 points or 1.06 per cent to 59,114 just ahead of closing

    15:26 (IST)06 Oct 2021
    Sell off may trigger in Bank Nifty below 37,000

    Bank Nifty continues to improve its relative strength against the Nifty, it is trapped in a broad consolidation range between 37000-38100 levels. Bank Nifty is likely to oscillate between this range and consolidate over the coming days. Weakness will creep in only if Bank Nifty slips below 37000. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services

    15:24 (IST)06 Oct 2021
    Nifty resistance at 17800

    NIFTY has presently formed a broad consolidation zone of itself with the range of 17450-17950 levels. The immediate resistance placed at 17800, the index will stay under consolidation so long as it keeps its head above the 17450 levels. Unless this level is violated on the downside, no directional weakness except some consolidation is expected in Nifty. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services

    15:24 (IST)06 Oct 2021
    Nifty gives up 17650

    Nifty gave up 17650 just ahead of the closing bell as benchmark indices continued to extend losses on Wednesday afternoon. 

    Check live: Nifty 50

    15:23 (IST)06 Oct 2021
    Cabinet approves Mega Textile Park Scheme

    Textile stocks were in focus on Wednesday after the Cabinet approved Mega Textile Park Scheme for Rs 4,445 crore. Stocks such as Shiva Texyarn, Jindal Worldwide, Loyal Textile Mills, others rallied up to 20 per cent.

    15:19 (IST)06 Oct 2021
    All sectoral indices in red

    All sectoral indices were trading with losses ahead of the closing bell on Wednesday. Benchmark indices dived into the red on Wednesday.

    15:15 (IST)06 Oct 2021
    Textile stocks in action

    KPR Mill and Bombay Dyeing shares were trading with gains on Wednesday while other textile stocks such as LUX Industries, Alok Industries, and Arvind Fashion were down in red.

    15:03 (IST)06 Oct 2021
    Bank Nifty in red

    Bank Nifty turned negative with minutes left before the closing bell. The banking index was down 0.51% ahead fo the closing bell, sitting at 37,546.

    14:56 (IST)06 Oct 2021
    India VIX up 5%

    India VIX was up 5% on Wednesday as domestic markets tanked with minutes left before the closing bell. 

    14:54 (IST)06 Oct 2021
    Sensex, Nifty deep in red

    Sensex tanked more than 500 points with half an hour left before the closing bell. Nifty was nearing 17,650. 

    14:18 (IST)06 Oct 2021
    Rakesh Jhunjhunwala-owned bank stock may surge 30%; brokerage bullish, check target prices

    Rakesh Jhunjhunwala-owned Federal Bank’s share price may rally as much as 30% from current levels on the back of a sharp recovery in business, according to various brokerage firms. The private bank has seen a strong recovery after the second wave of covid-19, and has reported a healthy 9.7% on-year growth in gross advances while the total deposit base has grown by 10% during the same period. The midcap bank stock has been in Rakesh Jhunjhunwala’s portfolio since at least 2016. Federal Bank’s share price is currently trading at Rs 85 per share, up 25% so far this year.

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    14:12 (IST)06 Oct 2021
    Sectoral watch

    Only Nifty Bank, Nifty Financial Services, and Nifty Private Bank index were trading with gains among sectoral indices on NSE. 

    14:07 (IST)06 Oct 2021
    How the power crisis in China will impact Indian pharma

    The Chinese resolve to comply with Global emission targets is laudable. The measures which have been taken to cut emissions include a decline in power supply to certain provinces which were consuming more than budgeted power. This cut in power supply has now meant that the industries operating out of such provinces will have limited ability to produce goods and operate on a more rationed basis.

    Read full story

    14:00 (IST)06 Oct 2021
    Only 6 Sensex stocks in green

    Only six Sensex stocks were up with gains on Wednesday afternoon, while others were in the red. HDFC Bank was the top gainer, followed by HDFC, Bajaj Finance, Axis Bank, TCS, and Kotak Mahindra Bank.

    13:57 (IST)06 Oct 2021
    Nifty Metal down 2.2%

    Nifty Metal was down 2.2% on Wednesday as Dalal Street slipped into the red. National Aluminium, Hindalco, and Vedanta were among the top drags. 

    13:47 (IST)06 Oct 2021
    Bank Nifty in green

    Bank Nifty is up in the green while broader markets sit deep in red. Bandhan Bank, HDFC Bank, and Axis Bank were among the gainers.

    13:30 (IST)06 Oct 2021
    Expect CPI to moderate

    We forecast CPI inflation to moderate to 4.62% in September, on declines in prices perishable foods, while a diverse set of temporary shocks should push up core inflation. However, elevated global commodity prices continues to exert upward pressure on India’s import basket. Overall, we continue to forecast that CPI inflation will average 5.4% in FY2021-22, with risks balanced.

    ~ Barclay's Bank

    13:25 (IST)06 Oct 2021
    Broader markets mirror follow benchmarks

    Broader markets mirrored the fall and slipped into the negative on Wednesday. Nifty Midcap 50 was down 1% while Nifty Smallcap 50 slipped 0.24%. 

    13:22 (IST)06 Oct 2021
    Volatility increases

    India VIX, the volatility gauge, jumped more than 2% on Wednesday as benchmark indices slipped into the negative territory. India VIX was nearing 17 levels.

    13:20 (IST)06 Oct 2021
    Remain bullish above 17,730

    "Setup remains bullish above 17,730. Any dip can be utilised as buying opportunity. Resistance seen at 17,850 and 17,945," said Rahul Sharma, Director & Head - Research, JM Financial.

    13:12 (IST)06 Oct 2021
    Sensex, Nifty down in red

    Sensex was down more than 100 points, slipping below 59,700 while Nifty 50 gave up 17,800 as indices slipped into the red. 

    11:49 (IST)06 Oct 2021
    Top gainers on Sensex

    HDFC Bank and HDFC are the top gainers on Sensex at this hour. These are followed by Bajaj Finance, Axis Bank, and Larsen & Toubro.

    11:38 (IST)06 Oct 2021
    Sensex headed for 66,600, Nifty for 20,000 in 1 yr; growth policies, earnings to fuel rally, says ICICI Direct

    NSE Nifty 50 may rise to 20,000 while S&P BSE Sensex is expected to reach 66,600 in the next one year, helped by pro-growth policies of the government and stronger corporate earnings, ICICI Direct said in a note. The brokerage firm believes that a variety of fundamental factors will drive markets higher going forward. So far this calendar year, Sensex and Nifty are up 25%. Dalal Street has jumped over the wall of worries, be it the second wave of covid-19 or the fears of a third wave. Nifty is currently near its all-time highs and is expected to hit 18,000 soon for the first time while Sensex is close to regaining 60,000.

    Read full story

    11:23 (IST)06 Oct 2021
    India VIX in red

    India VIX, the volatility index was down in the red on Wednesday as headline indices traded flat with positive bias. Indi VIX dropped 1.3%, sitting just above 16 levels.

    10:44 (IST)06 Oct 2021
    Back in green

    Sensex and Nifty were back in the positive territory, recouping all losses. The 30-stock Sensex neared 59,800 while Nifty 50 was inchign closer to 17,850.

    10:22 (IST)06 Oct 2021
    Sensex, Nifty give up gains

    Sensex was down 80 points while Nifty was just shy of 17,800 after the initial hour of trade as headline indices gave up gains and turned red. 

    10:12 (IST)06 Oct 2021
    Go long with SL of 37300 in Bank Nifty

    Long build up in the Bank Nifty futures, short covering in the Nifty Futures and rise in the Nifty Open Interest Put-Call ratio on the back of Put writing at 17700 - 17800 levels Indicates that one should continue to remain optimistic for the markets. Therefore, our advise is to accumulate long positions with trailing SL of 17700 level. On the higher side 17900-18000 levels will act as a resistance. In the Bank Nifty, where we have seen long build-up, our advice is to go long with SL of 37300 levels. HDFC Securities

    10:11 (IST)06 Oct 2021
    Nifty is trading well above the resistance zone of 17700

    The Nifty is trading well above the resistance zone of 17700 and hence we should be heading to 18050. Since the support for this market is at 17500-17600 which makes an unfavorable risk-reward, traders should look at picking up long positions on dips or during intraday corrections. With a smaller stop, they can project higher targets. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    09:56 (IST)06 Oct 2021
    Nifty headed to 18050

    "The Nifty is trading well above the resistance zone of 17700 and hence we should be heading to 18050. Since the support for this market is at 17500-17600 which makes an unfavorable risk-reward, traders should look at picking up long positions on dips or during intraday corrections. With a smaller stop, they can project higher targets," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

    09:47 (IST)06 Oct 2021
    Sensex, Nifty scale down from highs

    Sensex was down from highs but still in the green while Nifty 50 was holding comfortably above 17,800. India VIX turned red.

    09:47 (IST)06 Oct 2021
    Gold Price Today, 6 Oct 2021: MCX gold to trade in Rs 46200-46900 range this week; check support, resistance

    Gold prices in India fell on Wednesday, mirroring weak international prices on firmer US dollar. On Multi Commodity Exchange, gold December futures were trading Rs 102 or 0.22 per cent down at Rs 46,655 per 10 gram. Yesterday, it closed at Rs 46,757 per 10 grams. Silver December futures were ruling Rs 242 or 0.40 per cent down at Rs 60,744 per kg, as against the previous close of Rs 60,986 per kg. Globally, yellow metal prices inched lower as a firmer dollar and rise in U.S. Treasury yields weighed on the precious metal’s appeal.

    Read full story

    09:40 (IST)06 Oct 2021
    Bharti Airtel Rights Entitlement surges

    Bharti Airtel's Rights Entitlements soared higher for the second day on trade, gaining 5% to trade at Rs 214 per unit. The RE units began trading yesterday and will remain listed on the bourses till possibly next week. 

    09:32 (IST)06 Oct 2021
    Nifty headed to fresh highs?

    "Nifty closing above 17,800 (On Tuesday) can be seen as a positive sign as result season is also round the corner which can act as positive trigger for nifty to move towards creating a new all time high. If Nifty continues its uptrend, then the level of 17,750 can act as a good support level and can go till the next resistance level which is at 17,935. But on the other hand, if Nifty slip below 17,750 then can show a move till 17,620 level," said Mohit Nigam, Head - PMS, Hem Securities.

    09:18 (IST)06 Oct 2021
    OPENING BELL

    Domestic equity markets started trading with gains on Wednesday morning. Broader markets were trading in the green. Bank Nifty was above 37,800.

    09:06 (IST)06 Oct 2021
    Dalal Street set to start with gains

    Sensex was above 59,900 at the end of the pre-open session while Nifty 50 was just shy of 17,900 as headline indices looked set to start in the green. 

    09:02 (IST)06 Oct 2021
    Sensex, Nifty trade with gains

    Sensex and Nifty were up with gains during the pre-open session. Sensex was seen trading above 60,000 while Nifty reclaimed 17,900. 

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