Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended lower today with Nifty below 17,350 amid selling across the sectors barring FMCG. The BSE Sensex fell 861.25 points or 1.46% to end at 57,972.62, and the Nifty closed 246 points or 1.40% lower at 17,312.90. Tech Mahindra, Infosys, Wipro, HCL Technologies and TCS were among the major Nifty losers, while Britannia Industries, Maruti Suzuki, Apollo Hospitals, Nestle India and Asian Paints were the gainers. Apart from FMCG and Oil & Gas, all other sectoral indices ended in the red with Bank, Information Technology, Metal, PSU Bank and Realty down 1-3%. BSE midcap and smallcap indices fell 0.5% each.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 29 August Monday

15:40 (IST) 29 Aug 2022
Markets end in red

Indian benchmark indices ended lower today with Nifty below 17,350 amid selling across the sectors barring FMCG. Here's a current status of markets

– Post peaking out at ~18K mid-August, markets are now at around 17300 levels.

– IT sector has seen more pain than other sectors on fears of weaker economic growth given the hawkish stance of the FED and the firm resolve to control inflation in the US.

– The US market had rallied ~18% over mid-June -mid August on the expectation that the US rate hike trajectory would be more measured going ahead. But the message last Friday belied these hopes. This was unexpected and hence globally markets have seen weakness today.

– This weakness has been accentuated by the fact that the USDINR rate moved to a new low today accompanied by the dollar index hitting a new multi-year high and the US 10 year seeing a sharp spike this month over the preceding month.

– The immediate fallout of this could be a reversal of the solid FPI inflows seen this month.

– Our market has already digested a fair share of the global weakness which began around 10 months back. We believe a systematic allocation to equities is the best way to navigate these alternate bouts of market decline and recovery.

~Vineet Bagri, Managing Partner- TrustPlutus Wealth

15:33 (IST) 29 Aug 2022
Reliance ends in red on AGM day

Reliance shares fell over half a per cent to end in red as company's 45th AGM concluded. In the last five years, shares of RIL share price saw mixed trends on the company’s AGM day. Last year, in 2021, RIL share price declined 2.4 per cent to close the day at Rs 2,153.50 apiece. In 2020, RIL share price on AGM day fell 3.8 per cent; while in 2019, stock markets were closed on RIL’s AGM day due to Bakri-id, but the stock soared 9.72 per cent on the next day.

14:54 (IST) 29 Aug 2022

BSE Smallcap index shed 0.5 per cent dragged by the Tata Elxsi, Network18 Media & Investments, KBC Global

14:42 (IST) 29 Aug 2022
Reliance Industries stock volatile as Mukesh Ambani addresses 45th AGM

Reliance Industries shares were fluctuating between gains and losses as Mukesh Ambani is addressing company's 45th AGM.

14:42 (IST) 29 Aug 2022
Crude oil prices to trade sideways to up

“Crude oil prices traded lower with benchmark NYMEX WTI crude oil prices were trading 0.81% up near $93.78 per barrel on Monday. Crude oil prices rose as expectations OPEC will cut output if needed to support prices, conflict in Libya, and rising demand amid soaring natural gas prices in Europe helped offset a dire outlook for growth in the United States.  We expect crude oil prices to trade sideways to up with resistance at $96 per barrel with support at $92 per barrel. MCX Crude oil September contract has important support at Rs 7380 and resistance at Rs 7590 per barrel.”

~Tapan Patel, Senior Analyst (Commodities), HDFC Securities

14:32 (IST) 29 Aug 2022
Emerging market flows can see erratic movement

“Overall emerging market flows can see erratic movement, if UST and dollar index rises out of the comfort zone. In the short term, most of the emerging market central banks and ECB will have to follow the FED and increase rates to protect their currency and stay away from imported inflation. The Fed and ECB will increase rates further, but they will need to be watchful of the repercussions on growth, which will be visible in years to come. What matters now, more than the rate hike is the tapering of the central bank’s bloated balance sheets. The FED is tapering its assets at a much less pace than planned. Eventually, quantitative tightening, rising rates and the global slowdown will put pressure on central banks in the later part of CY23 or early CY24, and possibly have to act accordingly then.”

~ Aishvarya Dadheech, Fund Manager, Ambit Asset Management

14:32 (IST) 29 Aug 2022
India market to remain resilient

“A hawkish speech by Powell pours cold water on the risk-on sentiment in the global markets, with the possible strengthening of the US dollar and the rebound in the UST 10 Yield. However, so far, we haven’t seen any sharp uptick in the US treasury and dollar index post the announcement and hence are not super bearish on the markets. The Indian market will remain resilient and at worst, can remain in the consolidation phase for some time, until the dust settles. We believe FIIs will be watchful and won’t immediately stop buying Indian stocks.”

~ Aishvarya Dadheech, Fund Manager, Ambit Asset Management

14:25 (IST) 29 Aug 2022
Investors with long-term view should utilize increased volatility to increase exposure to equities

“The Indian markets are following the movement of global markets after the hawkish US Fed President's speech at Jackson Hole. On the ECB front, too, there are now rumors that the Sept 2022 policy might see a 75 bps interest rate increase along with QT, which is also adding to the pressure. With terminal rate expectations in the US topping 4%, we believe that the near-term volatility might increase in the equity markets, even though global economic indicators might weaken since the US Fed indicated a willingness to pursue further tightening for a longer period to slay inflation, leading to slower growth and higher unemployment. Investors with a long-term view should utilize the increased volatility to increase exposure to equities. Traders can be on the sidelines till stability is restored.”

~ Naveen Kulkarni, Chief Investment Officer, Axis Securities

14:13 (IST) 29 Aug 2022
Rupee well cushioned at 81.10 mark

“The surge seen in crude oil prices amid expectations that OPEC and allies could cut output to restore market balance is weighing on the rupee-dollar exchange rate. Going forward, market participants shall focus on the key US jobs report as well as the domestic Q1 GDP data to get further cues about the rupee movement. The domestic currency still looks to remain well cushioned at the 81.10 mark and unless we see the rupee breaching the crucial 80.10 mark on a closing basis, it looks primed to reverse course and trade with an appreciation bias,”

~Sugandha Sachdeva, Vice President – Commodity and Currency Research, Religare Broking

14:12 (IST) 29 Aug 2022
Rupee slumps following strength in dollar index

“The Indian rupee has slumped to test fresh lows of 80.1250 in today’s session following significant strength seen in the dollar Index towards two-decade highs. The Fed chair Jerome Powell adopted a hawkish stance at the Jackson Hole symposium and indicated a continued tightening path to tackle soaring inflation, which has spurred buying interest in the greenback. Weak economic data from the European region is also supporting the advance in the dollar. Besides, risk-averse sentiments and steep correction in domestic equities have added to the rupee woes,”

~Sugandha Sachdeva, Vice President – Commodity and Currency Research, Religare Broking

14:03 (IST) 29 Aug 2022
Indices trim losses, RIL jumps

Benchmark indices were trading lower with Nifty around 17350. The Sensex was down 680.95 points or 1.16% at 58152.92, and the Nifty was down 197.10 points or 1.12% at 17361.80.

13:55 (IST) 29 Aug 2022
Reliance share price jumps 1% minutes before AGM starts

Reliance Industries shares are in focus as company will hold its annual general meeting virtually today. The shares jumped 1%, minutes before Mukesh Ambani's speech is set to start at company's 45th AGM.

13:48 (IST) 29 Aug 2022
Midcap gainers, losers

Adani Power, Colgate, Patanjali Foods, BHEL, and Jubilant Food soar up to 5% in a weak market.  Info Edge, Mindtree, Mphasis, IRCTC fall up to 6%

13:41 (IST) 29 Aug 2022
Lemon Tree shares fall 1.52%

Lemon Tree Hotels has opened 52 rooms franchised hotel in Ahmedabad under its brand 'Keys Select by Lemon Tree Hotels, Gandhi Ashram'. This is the fifth hotel under the company's umbrella in Gujarat. Lemon Tree Hotels Ltd. was quoting at Rs 68, down Rs 1.05, or 1.52 per cent on the BSE.

13:40 (IST) 29 Aug 2022
India VIX up 8%

India VIX soars 8 per cent amid sour global mood after US Fed Chair Jerome Powell's hawkish speech at Jackson Hole event.

13:25 (IST) 29 Aug 2022
Look for buying opportunity in Titan, HAL, BEL and BHEL

“We are witnessing long built up in stocks like Escorts, Colpal, MFSL, Coromandel, BEL, Tataconsum etc. while short build-up is visible in counters Naukri, CUB, Kotakbank, RECLtd, Coforge, TechM, LTTS, PFC, Cumminsind, L&TFH etc. Nifty and Bank Nifty is expected to trade in a narrow range. At current juncture, we are advising to be with selective stocks and one can look for buying opportunity in Titan, HAL, BEL and BHEL.”

~Chandan Taparia, Vice President, Equity Derivatives Technical, Broking & Distribution, Motilal Oswal Financial Services

13:24 (IST) 29 Aug 2022
Bank Nifty crucial support at 38250

“Today, apart from FMCG space, we are witnessing negative move in all other sectors out of which most weakness can be seen in IT, Bank, Metal, Media and Realty space. Bank Nifty opened gap down but took support at 37950 zones and is moving in a narrow range. Now it has to hold 38250, for an up move towards 38500 and 38750 zones whereas support can be seen at 38000 and 37750.”

~Chandan Taparia, Vice President, Equity Derivatives Technical, Broking & Distribution, Motilal Oswal Financial Services

13:23 (IST) 29 Aug 2022
Till Nifty stays above 17300 and holds momentum, it can move to 17442 – 17550 zones

“Nifty opened gap down on account of weak global cues but took support near 17150 zones and has been moving in a consolidative manner. It is moving with less momentum but support based buying can be seen. India VIX spiked above 21 zones which is giving some discomfort to the bulls. Now till the index holds 17300 and holds momentum, it can move to 17442 and 17550 zones whereas on the lower side the supports can be placed at 17250 and 17150. Market breadth is favouring the declining counters which indicates some sort of pause at higher zones.”

~ Chandan Taparia, Vice President, Equity Derivatives Technical, Broking & Distribution, Motilal Oswal Financial Services

13:18 (IST) 29 Aug 2022
Reliance Retail makes Rs 5,600-crore initial offer for Metro Cash & Carry India

Reliance Retail has submitted a non-binding bid of  Rs 5,600 crore to acquire Metro Cash and Carry’s India operations and assets According to media report, Thailand’s largest conglomerate, Charoen Pokphand (CP) Group, has placed a bid of about Rs 8,000 crore, or $1 billion, which almost matches the German wholesaler’s expectations.

13:17 (IST) 29 Aug 2022
Bank Holidays in September 2022: Banks closed for up to 13 days in various cities in September; check list

List of Bank Holidays For September 2022: Banks in India are likely to be shut for up to 13 days in September 2022, including second and fourth Saturdays, and Sundays. According to the list released by the Reserve Bank of India (RBI), banks will be closed for 8 days, apart from weekends in September this year. Banks will remain shut in different states or cities on account of different holidays. State wise holidays in September include Ganesh Chaturthi, Karma Puja, First Onam, Thiruvonam, Indrajatra, Sree Narayana Guru Jayanthi, among other occasions. It may be noted that the banks remain open on the first and third Saturdays every month.

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13:11 (IST) 29 Aug 2022
Nifty, Sensex in red

Benchmark indices were trading lower in the afternoon session with Nifty around 17300. The Sensex was down 810.05 points or 1.38% at 58023.82, and the Nifty was down 234.10 points or 1.33% at 17324.80.

13:10 (IST) 29 Aug 2022
US 2-yr treasury yields rises

U.S. 2-year treasury yield climbs to 3.48%; highest since November 2007

12:52 (IST) 29 Aug 2022
HCL Tech, Future Enterprises among 52 BSE stocks to hit 52-week lows; Adani Transmission at new high

BSE Sensex and NSE Nifty 50 tanked more than 2 per cent in the morning trade on Monday. After a few hours into the trade indices recovered from the day’s lows and were down 1.4 per cent. In the noon deals, BSE Sensex was ruling 800 points or 1.4 per cent down at 58,034, and the NSE Nifty 50 was trading at 17,326, down 230 points 1.3 per cent. So far in the trade today, HCL Tech hit a new 52-week low of Rs 875.65, below the previous low of Rs 877.25 touched in July this year. While no stock hit a new 52-week high on S&P BSE Sensex.

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12:49 (IST) 29 Aug 2022
Nifty, Sensex tank 1% amid weak global cues; here’s what is fuelling sell-off today

Indian share market slumped on Monday as investors were spooked after the US Fed chair Jerome Powell though his Jackson Hole Symposium speech diminished the optimism that the central bank may turn around from its aggressive monetary policy amid declining commodity prices. He instead said that the era of interest rate increases is far from over. The BSE Sensex index tanked 1,467 pts to hit an intra-day low of 57,367, while the NSE Nifty 50 sank 393 points to touch the day’s low of 17,166. However, both the indices recouped some opening losses in late morning trade. Bloodbath on Dalal Street was led by the IT pack as the Nifty IT index cracked over 4%. Tech Mahindra, Infosys, HCL Tech, Wipro and TCS slipped 2% to 5%.

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12:19 (IST) 29 Aug 2022
6 Sensex constituents in green

RIL, Maruti, HUL lend support to Sensex index

12:01 (IST) 29 Aug 2022
Mazagon Dock Shipbuilders hits new high on heavy volumes; up 27% in 2 days

MDL is one of India's four strategic defence shipyards and the only one to manufacture destroyers and submarines in India. It is a Defence Public Sector Undertaking (DPSU) under the Ministry of Defence (MoD).

11:55 (IST) 29 Aug 2022
Rupee may hit 81 per US Dollar in near-term on domestic, global concerns; INR fall could push bond yields up

“Spot USDINR is expected to trade higher on a stronger dollar against major currencies. However, we don’t expect sharp depreciation from here following the expectation of a better macro environment going ahead. The pair is so far the median performer among the Asian currencies and is expected to remain the median performer for the rest of the year,” said Dilip Parmar, Research Analyst, HDFC Securities

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11:41 (IST) 29 Aug 2022
Gold to trade sideways to down this week on hawkish signals from US Fed, strong dollar; support at Rs 50400

Gold prices to trade sideways to down this week with COMEX spot gold resistance at $1760 per ounce and support at $1710 per ounce. At MCX, Gold October prices have near term resistance at Rs. 51600 per 10 grams and support at Rs. 50400 per 10 gram. COMEX Spot silver has near term resistance at $19.40 per ounce with support at $18.10 per ounce. MCX Silver December has important resistance at Rs. 56900 per KG and support at Rs. 54000 per KG.

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11:39 (IST) 29 Aug 2022
Bears will be back in action after Powell’s hawkish tone at Jackson Hole; 75 bps rate hike likely in next FOMC

Jerome Powell’s 9-minute speech in Jackson Hole on Friday was short, crisp, clear. The event was a chance for Powell to reset investors’ expectations after the July FOMC meeting on his commitment towards controlling inflation and he made sure that his message goes out strongly with no room for any alternate interpretation. The speech was unequivocally hawkish and Powell made several remarks that spooked the markets with S&P 500 and Nasdaq 100 tanking 3.3% and 4.1% respectively to close the day.

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10:59 (IST) 29 Aug 2022
Metal stocks drag

BSE Metal index fell 2.3 per cent dragged by the Hindalco Industries, JSW Steel, Jindal Steel