Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark indices witnessed a volatile trading session of the weekly futures & options expiry. S&P BSE Sensex closed 51.73 points or 0.09% lower at 58,298 while the NSE nifty 50 index slipped 6.15 points or 0.04% to settle at 17,382. Bank Nifty ended 0.62% in red at 37,755 while India VIX jumped more than 4% to end above 19 levels. Sun Pharma jumped 2.46% to end as the top gainer while Nestle India was up 2.39%, followed by Infosys, Dr Reddy’s and M&M. NTPC was the worst performer, accompanied by State Bank of India, Axis Bank, and Reliance Industries.
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Domestic benchmark indices snapped their 6-day gaining streak on Thursday as headline indices ended flat with a negative bias after a volatile trading session. S&P BSE Sensex closed 51.73 points or 0.09% lower at 58,298 while the NSE nifty 50 index slipped 6.15 points or 0.04% to settle at 17,382. Sun Pharma jumped 2.46% to end as the top gainer on Sensex while Nestle India was up 2.39%, followed by Infosys, Dr Reddy's and M&M. NTPC was the worst performer, accompanied by State Bank of India, Axis Bank, and Reliance Industries. Bank Nifty ended 0.62% in red at 37,755 while India VIX jumped more than 4% to end above 19 levels.
GOQii Smart Vital today announced that it has tied up with Kotak Mahindra Life Insurance Company Limited (KLI) and Kotak Mahindra General Insurance Company Limited (KGI) to offer life and health insurance, respectively, to GOQii’s new and existing customers. The insurance plan will be valid for 12 months from the date of activation of the GOQii app.
Sensex ended 51.73 points or 0.09% lower at 58,298 while the NSE nifty 50 index slipped 6.15 points or 0.04% to settle at 17,382. Bank Nifty ended 0.62% lower.
Adani Power share price jumped nearly 4 per cent to a new 52-week high of Rs 354 apiece on BSE on Thursday, after the company posted a manifold jump in consolidated net profit to Rs 4,779.86 crore in Q1. The company had reported a consolidated net profit at Rs 278.22 crore in the corresponding quarter of the previous year. During the quarter, Adani Power share price gained over 30% to presently trade around 350 mark. Analysts say that the stock had touched 344 levels in June, and post that, there was profit booking in the stock leading to a correction of 30%. Read full story
Sensex and Nifty have trimmed nearly all intraday losses but the indices were struggling to turn positive with minutes left before the closing bell.
India VIX dropped below 20 levels right ahead of the closing bell. India VIX was still up 4% sitting above 19.
At Brookfield India REIT, we continue to demonstrate strong operating and financial performance backed by a 6% increase in our organic growth from the previous quarter. Our gross leasing for this quarter remained positive at 311,000 MSF with robust leasing demand from new clients coupled with an increase in leasing momentum from existing tenants who have chosen us as their office space partners as they draw up their expansion plans and encourage their workforce to return to offices. Alok Aggarwal, Chief Executive Officer of Brookprop Management Services
With half an hour left before the closing bell, bulls seem to be returning on Dalal Street as headline indices cut all gains to trade flat. Sensex was above 58,300 and Nifty 50 was nearing 17,400.
US stock markets have soared higher in the last one week since the US Federal Reserve hiked interest rates by another 75 basis points. NASDAQ has zoomed 10% while S&P 500 is up more than 5% and Dow Jones has soared 3%. However, Lisa Shalett, Chief Investment Officer, Morgan Stanley Wealth Management is questioning whether investors are being over-optimistic and missing the dangers that may lie ahead. “Such a reaction is curious, given that the Fed did not appear particularly dovish with its latest decision, nor did it signal a coming pivot from its aggressive tightening path,” Shalett wrote in a post. She added that markets may be seeing only what they want to see.
Sensex is hovering around 58,000 while sitting 300 points down in the red. Nifty 50 index was shy of 17,300.
BSE Sensex and NSE Nifty 50 erased all the opening gains and slipped into red on Thursday, a day of weekly F&O expiry. Index heavyweights such as Reliance Industries, ICICI Bank, HDFC Bank, Housing Development Finance Corporation (HDFC), and State Bank of India, among others, contributed the most to the indices’ loss. In the trade so far, S&P BSE Sensex hit a day’s high of 58,713, and a low of 57,577. While NSE Nifty 50 rose to 17,490.70, and fell to a day’s low of 17,161.25. In the afternoon deals, Mahindra & Mahindra (M&M) stock hit a fresh 52-week high of Rs 1,265, crossing the previous high of Rs 1,260 apiece. Read full story
On the technical front, Nifty formed a small bullish candle with lower hairline resembling closer to a Hanging man formation amidst choppy price action. Though the pattern specifies a reversal formation but no signs of exhaustion can be seen yet through oscillators, on the contrary weekly RSI clocked breakout from 6 months falling trend line indicating of long term positive bias. The formation of higher high-low with broader market participation reinforces of a positive outlook in Index. The psychological level of 17000 which further coincides with the 200dma would be the immediate short term trend deciding level for the market. On the upside the elevated target level for Nifty is around 17500 (being 80% retracement of two-month decline (18100-15183). Hence, during the day stock specific action is likely to continue while Nifty might consolidate with positive bias holding above previous sessions low of 17200. Intraday dip towards 17150-17180 need to be hunted for creating long position for the target of 17575. Tirthankar Das, Head of Technical Research at Ashika Group
IT industry players have appreciated the government’s move to withdraw the personal data protection bill and have sought participation in the consultation process for the fresh draft. The industry was critical of the data protection bill tabled in Parliament by the Joint Committee on Personal Data Protection Bill.
“Nifty weekly contract has highest open interest at 17750 for Calls and 17300 for Puts while monthly contracts have highest open interest at 17900 for Calls and 16000 for Puts. Highest new OI addition was seen at 17500 for Calls and 17000 for Puts in weekly and at 18000 for Calls and 16500 for Puts in monthly contracts. FIIs increased their future index long position holdings by -6.40%, increased future index shorts by 1.46% and in index options by 1.37% in Call longs, -2.08% in Call short, 16.97% in Put longs and 1.15% in Put shorts.”
~ Anand James – Chief Market Strategist at Geojit Financial Services
BSE Sensex tanked more than 500 points on Thursday as bears took control on Dalal Street. Nifty 50 was nearing 17,200.
Sensex and Nifty were down in the red, after giving up all gains on Thursday morning. Sensex was holding just above 58,000 while Nifty was below 17,300.
Zomato share price gained nearly 4 per cent to Rs 57.45 apiece on BSE on Thursday, after institutional investors lapped up stakes in the food delivery firm and Uber sold through bulk deals on BSE. Zomato stock has soared 42 per cent in the last seven trading sessions, after hitting an all-time low of Rs 40.55 apiece on 27 July. Uber Technologies sold its entire stake of 7.8 per cent in the Indian food delivery firm. Around 20 global and Indian funds bought stakes in Zomato, Reuters reported citing unidentified sources. Fidelity Investment Trust’s Fidelity Series Emerging Markets Fund bought 5.44 crore shares of Zomato through a bulk deal at an average price of Rs 50.26. Read full story
InterGlobe Aviation, the parent company of IndiGo, reported a consolidated net loss of Rs 1,064.26 crore for the April-June quarter. The net loss narrowed from Rs 3,174.18 crore witnessed in the year-ago quarter. IndiGo stock was trading flat on Thursday morning but analysts see reasons to board this low-cost airline stock as a drop in crude oil and increasing airline traffic bode well for the aviation giant with a mammoth share of India’s domestic sky. So far in 2022, IndiGo share price is down 1.79% to now trade at Rs 1,977 per share.
After opening in red, India VIX rose on Thursday closing in on 19 levels.
Vodafone Idea share price fell more than 4 per cent to Rs 8.71 apiece on BSE on Thursday a day after the telco reported marginal narrowing of its consolidated loss to Rs 7,296.7 crore for the June quarter. The company had posted Rs 7,319.1 crore loss in the corresponding period of previous year. In eight months, the stock has nearly halved from its 52-week high of 16.8 apiece. Technical analysts say that charts show nothing significant for Vodafone Idea; and no major pattern except that of a declining trend is visible. Read full story
“In the mother market of the US, markets are climbing many walls of worries including the US-China skirmishes arising from Nancy Pelosi's visit to Taiwan. Other markets are taking cues from the strong trend in the US market. In India, the FPIs turning buyers has changed the sentiments in favour of the bulls. The market momentum is so strong that it is overpowering negatives like higher valuations and rising trade deficit. If FPI buying sustains, the market may continue to remain resilient, but investors should exercise some caution. It makes sense to stick with high quality growth stocks. The strength in Nasdaq indicates that IT will continue to maintain the current uptrend,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
S&P BSE Sensex rose more than 350 points or 0.60% on Thursday touching 58,700 during the initial minutes of trade. NSE Nifty 50 index was closing in on 17,500. Bank Nifty was above 38,200.
“Nifty recovered the early losses on Aug 03 and ended in the positive even as the world markets steadied after a minor panic over Pelosi’s visit to China and reactions from China. At close, Nifty was up 0.25% or 42.7 points at 17388.2. Nifty refuses to build on the intra-day losses, hence one more up-move seems pending. 17457-17530 could be the resistance band for the Nifty in the near term while a breach of 17155 could result in acceleration of downtrend,” said Deepak Jasani, Head of Retail Research, HDFC securities.
Sensex rose as pre-open session began on Thursday while Nifty 50 was in the red.
“The following companies will release their June quarter numbers today: Britannia Industries, GAIL India, Adani Enterprises, LIC Housing Finance, Dabur India, Alembic Pharmaceuticals, Adani Total Gas, Aarti Surfactants, Aptech, Balkrishna Industries, Balrampur Chini Mills, BEML, Berger Paints India, Bharat Heavy Electricals, Blue Star, Container Corporation of India, amongst others.
On the technical front, the key support level for the Nifty is placed at 17,250, followed by 17,150. If the index moves up, key resistance levels to watch out for are 17,450 and 17,500.”
~ Mohit Nigam, Head – PMS, Hem Securities
Vodafone Idea: The telco reported marginal narrowing of its consolidated loss to Rs 7,296.7 crore for the June quarter compared to the year-ago period, as tariff hikes boosted its realisations.
IndiGo: InterGlobe Aviation, which operates IndiGo reported a consolidated net loss of Rs 1,064.26 crore for the three months to June, owing to headwinds caused by the depreciating rupee and higher fuel prices.
Bharti Airtel: Within days of bidding for spectrum in auctions, Bharti Airtel on Wednesday announced it has signed 5G network agreements with gear makers Ericsson, Nokia and Samsung to commence deployment this month.
Zomato: Uber Technologies exited Zomato through a block deal on Wednesday, selling its entire 7.8% stake in the food delivery aggregator for about Rs 3,087 crore.
The Indian Rupee is likely to trade sideways on Thursday amid strong US dollar, dismal macroeconomic data, risk-on sentiments and foreign fund inflows. USDINR pair is likely to consolidate in the range of 79.35 to 79 ahead of the RBI Monetary Policy Committee meeting on Friday, according to forex analysts. In the previous session, rupee slumped 68 paise against the US dollar, as disappointing macroeconomic data weighed on investor sentiment. At the interbank foreign exchange market, the local currency opened lower at 78.70 and fell further to settle at the day’s low of 79.21. Dismal macroeconomic data from India put downside pressure on Rupee.
“Above 17390, Nifty should see itself propelling towards 17500 zone. Bank Nifty needs to cross 38180 for more upside. Bearish only if it breaks 37700,” said Rahul Sharma, Director & Head – Research, JM Financial.
“Markets are so strong that corrections don’t last for more than a couple of hours! Nifty formed a hanging man candle stick pattern and closed right near its resistance level of 17390. Both Bank Nifty and India VIX formed a Doji pattern,” said Rahul Sharma, Director & Head – Research, JM Financial.
The prices of petrol and diesel on August 4, were left untouched by OMCs once again. Prices have held steady for 71 days now across the country, except in Maharashtra. Pieces were cut in Maharashtra when the state government announced a cut in value-added tax (VAT) on petrol by Rs 5 a litre and by Rs 3 a litre for diesel earlier last month — a move that will cost the state exchequer Rs 6,000 crore on an annual basis. For the rest of the country, prices have been steady since May 21 when Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs 8 per litre, and Rs 6 per litre on diesel.
On the Daily Nifty chart, we can observe that after recently touching a low of 15183, the Nifty has been consistently rising and making higher tops and higher bottoms over the last few weeks. In the previous week, the Nifty 50 index crossed the previous intermediate high of 16794, thereby reversing the recent intermediate downtrend. The Nifty also comfortably trades above the 20-day and 50-day SMA and the 14-week RSI too is in rising mode and not overbought. The Nifty could now be headed towards a downward sloping intermediate trend line resistance at around the 17800 levels in the coming sessions. Short-term weakness or consolidation is however not ruled out.
“We expect the index to consolidate further citing mixed indications and it is healthy after the recent surge. Meanwhile, participants should maintain their focus on identifying stock-specific opportunities and utilizing any dip to accumulate. At the same time, we recommend keeping a check on leveraged positions and preferring a hedged approach,” said Ajit Mishra, VP – Research, Religare Broking.
SGX Nifty was sitting in the green ahead of Thursday's opening bell. Nifty futures were up suggesting a continuation of the positive momentum on Dalal Street.
India’s central bank is expected to deliver another half-point increase in its main policy rate on Friday to signal it’s not letting up in its fight against inflation while fending off further attacks on the rupee. Thirteen of 27 economists surveyed by Bloomberg as of Wednesday see the Reserve Bank of India’s six-member monetary policy committee increasing the repurchase rate by 50 basis points to 5.40%, a level last seen in August 2019. One predicted a 40 basis-point move, nine expect 35 basis points, and the remaining a quarter-point hike, which is enough to return borrowing costs to pre-pandemic levels of early 2020.