Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark domestic indices ended Tuesday’s trading session in negative territory. The NSE Nifty 50 fell 0.56% to settle at 19,528.75, while the BSE Sensex tumbled 316.31 points to 65,512.10. Among the border indices, Nifty 100, Nifty 200, and Nifty 500 settled in red, while Midcap and Smallcap stocks added gains. The Bank Nifty index shed 185.50 points, or 0.42%, to 44,399.05. The other sectoral indices ended broadly in the red, except for PSU Bank, Media, Realty, and Consumer Durables stocks. The PSU Bank index surged by over 2.38% to 5,383.25.
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The NSE Nifty 50 fell 0.56% to settle at 19,528.75, while the BSE Sensex tumbled 316.31 points to 65,512.10.
The share price of Vedanta surged 4.11% to Rs 231.70 during the intra-day trade on Tuesday.
HDFC Bank, JSW Infrastructure, Vedanta, Axis Bank and Reliance Industries are among the most active stocks on the NSE.
India’s manufacturing activity rose at the slowest pace in five months in September but it remained solid, with strong demand driving business confidence to its highest level this year, despite increased inflationary pressures, according to the S&P Global Purchasing Managers’ Index (PMI). The Manufacturing Purchasing Managers’ Index (PMI) by S&P Global came in at 57.5 in September as against 58.6 in August, missing Reuters estimates for 58.1.
"September auto sales came with a mixed bag, where cars and SUVs hit an all-time high on festive fervour and continued to surge in demand as the largest players heavily stocked up their dealerships ahead of Navratri and Diwali. The PV industry is set to hit the milestone of 4 million units for the full year, surpassing the 3.8 million units achieved last year. However, the two-wheeler industry continues to see lukewarm growth, though Hero Motor, TVS, and Royal Enfield hope that demand will start picking up as the weeks pass. On the other hand, robust infrastructure push, better replacement demand, and growth in the e-commerce segment continue to benefit the commercial vehicle industry. We expect normal volume growth for the sector and some consolidation in the near term due to a significant rally compared to the broader market," said Saji John, Senior Research analyst at Geojit Financial Services.
Auto, Metal, Pharma, and Financial Services stocks experienced corrections, while Media and PSU Bank stocks added gains during intra-day trading on Tuesday.
The Bank Nifty shed over 220 points during the intra-day trade on Tuesday. IDFC First Bank and ICICI Bank led with losses of 1.83% and 1.09%, respectively.
Manoj Vaibhav Gems ‘N’ Jewellers shares saw a flat opening on the bourses on Tuesday. The share debuted on the NSE at Rs 215, which was the same as the IPO issue price of Manoj Vaibhav Gems ‘N’ Jewellers.
JSW Infrastructure' shares listed at 20.16% premium over the IPO price on bourses on Tuesday. The share debuted at Rs 143 on the NSE, as compared to the issue price of Rs 119. The investors have made a profit of Rs 24 per share as the scrip gave more than 20% returns to investors on the listing.
The Nifty Auto index tumbled 1.14% during the early trade on Tuesday. Eicher Motors led the losses with 3.26%. Maruti Suzuki India and Balkrishna Industries also tumbled over 2%.
The NSE Nifty 50 opened at 19,622.40, down 16 points, while the BSE Sensex opened at 65,813.42, down 15 points.
"We expect gold and silver to remain volatile in today’s session. Gold has support at $1802-1792 while resistance is at $1832-1848. Silver has support at $20.60-20.45, while resistance is at $21.02-21.22. In INR terms gold has support at Rs 56,110 - 55,740. while resistance is at Rs 56,880 - 57,150. Silver has support at Rs 65,800 - 65,150, while resistance is at Rs 67,440 – 68,350," said Rahul Kalantri, VP Commodities, Mehta Equities.
"For Bank Nifty, 44,750 would be the crucial resistance level. As long as it trades below the same, weak sentiment will continue and it may slip to 44,100 - 43,800. Conversely, a new uptrend is possible only after the breakout of 44,750 and may rise further to 45,000 - 45,200 levels,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.
"Nifty weekly contract has highest open interest at 19,800 for Calls and 19,600 for Puts while monthly contracts have highest open interest at 20,000 for Calls and 19,500 for Puts. The highest new OI addition was seen at 19,800 for Calls and 19,600 for Puts in weekly and at 20,500 for Calls and 19,500 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 8.35%, increased future index shorts by 4.19% and in index options by 15.16% in Call longs, 7.28% in Call short, 31.44% in Put longs and 39.23% in Put shorts," said Anand James, Chief Market Strategist at Geojit Financial Services.
"Oil prices are also under pressure as a key oil pipeline between Iraq and Turkey appears ready for operations this week. This development could lead to additional oil flows and potentially ease global supply constraints. Markets are looking ahead to an OPEC+ meeting scheduled for the week. We expect crude oil prices to remain volatile in today’s session. Crude oil has support at $86.10–85.40 and resistance is at $87.90–88.50 in today’s session. In INR Crude oil has support at Rs 7,350-7,240, while resistance is at Rs 7,640–7,720," said Rahul Kalantri, VP Commodities, Mehta Equities.
"Based on the technical formation, we believe that the market is due for a short term upward pull back in the near term. It has formed a long legged doji formation, which may see trending activity on either side. Below 19,490, the Nifty could fall to 19,400 or 19,200 levels. On the other hand, above 19,750, it would move to 19,900 - 20,000 levels. The real trend will emerge only if the index manages to cross the level of 20250," said Amol Athawale, Vice President - Technical Research, Kotak Securities.
“Markets may see a weak start in Tuesday trades, in tandem with sluggish Asian cues as stubbornly firm US dollar and treasury yields coupled with continuing FII fund outflows remain major concern areas for investors. However, strong automobile sales numbers for the month of September and robust GST collections could provide some cheer to markets. Banking & financial stocks are likely to be in limelight ahead of the RBI's credit policy announcement this Friday, although the market is betting that the central bank may continue to maintain the status quo in key policy rates,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Vedanta, Coal India, Adani Green Energy, Tata Motors, Tata Power, Maruti Suzuki India, Mahindra & Mahindra, Hero MotoCorp, JSW Infrastructure, Hindustan Zinc, Manoj Vaibhav Gems ‘N’ Jewellers are among the top stocks to watch during Tuesday's trading session.
Oil prices are trading lower on Tuesday. WTI crude prices are trading at $87.89, down 1.05%, while Brent crude prices are trading at $89.73 down 1.07%.
Foreign institutional investors (FII) offloaded shares worth net Rs 1,685.70 crore, while domestic institutional investors (DII) added shares worth net Rs 2,751.49 crore on September 29, 2023, according to the provisional data available on the NSE.