Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity benchmarks BSE Sensex and NSE Nifty 50 ended nearly one per cent higher on Monday, on the back of gains in index heavyweights. BSE Sensex jumped 443 or 0.8 per cent at 59,246, while NSE Nifty 50 ended at 17,665.80, up 0.7 per cent. Of 30 stocks on S&P BSE Sensex, 23 stocks settled in green. These include Sun Pharma, ITC, NTPC, Reliance Industries, HCL Tech, Tata Steel, L&T, ICICI Bank, Bharti Airtel among others. On the flip side, Nestle India, UltraTech Cements, Wipro, Asian Paints, HUL, Power Grid Corporation of India, Bajaj Finance were among the Sensex losers.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News
BSE Sensex jumped 443 or 0.8 per cent at 59,246, while NSE Nifty 50 ended at 17,665.80, up 0.7 per cent.
Blue Jet Healthcare has filed its Draft Red Herring Prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO). The public issue with a face value of Rs 2 per equity share is a complete offer-for-sale (OFS) of up to 21,683,178 equity shares by Promoter and selling shareholders, which comprises up to 18,366,311 by Akshay Bansarilal Arora, up to 3,316,867 by Shiven Akshay Arora.
India is the fastest growing economy in the world and over the next 25 years, the government will reposition it to ensure that India becomes a developed nation by 2047, said Finance Minister Nirmala Sitharaman at an event today. “By the time India celebrates the first centenary of independence, we will have to reset lots of things so that we become a developed nation by then,” the FM said adding that the biggest tools for such a reset are digitisation, education and building more and more infrastructure so that India’s hinterland doesn’t remain unconnected to the cities. Read full story
India is the fastest growing economy despite global headwinds, and it is aiming to drive global growth as well, Finance Minister Nirmala Sitharaman said today. Sitharaman emphasised that after the pandemic, India is repositioning its economy amid new global challenges and that the government is focused on bringing economic stability amid the new world order. According to Sitharaman, the reset of the Indian economy aims at promoting technology driven industries. Read full story
S&P BSE Sensex and NSE Nifty were trading 0.75 per cent higher on Monday, on the back of gains in Reliance Industries, ICICI Bank, Kotak Mahindra Bank, HDFC Bank, and others. BSE Sensex surged nearly 500 points or nearly one per cent to 59,294. NSE Nifty 50 rose to a day’s high of 17,678.30. So far in the trade, ITC share price hit a new 52-week high of Rs 327.70 apiece, crossing the previous high of Rs 324.20 apiece. While no stock hit a fresh 52-week low on S&P BSE Sensex. Read full story
Union Finance Minister Nirmala Sitharaman addresses the audience on 'India reimagined: Mega-reset on cards' on the sidelines of Ashwamedh-Elara India Dialogue 2022 via VC
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel has been kept steady on 5 September 2022, keeping costs steady for more than three months now. The last country-wide change in price came on 21 May 2022, 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. Read full story
Going forward, we expect the Nifty to undergo healthy consolidation and gradually head towards 18300 in the month of September while strong support exists at 16800 which we do not expect to break. We recommend to buy dips to construct portfolio of quality companies. Read full story
India’s Services PMI rose to 57.2 in August from July’s 4-month low of 55.5, on stronger expansion in new work intakes, upturn in business activity, and the sharpest rise in employment for over 14 years. The seasonally adjusted S&P Global India Services PMI Business Activity Index came in at 57.2, highlighting a rebound in growth. S&P Global, in a report, said that amid reports of favourable demand conditions and successful advertising, there was a further increase in new business placed with services firms during August. The rate of expansion was sharp and quickened from July. Read full story
The chart pattern suggests that if Nifty crosses and sustains above 17800 level it would witness buying which would lead the index towards 18000-18300 levels. However, if the index breaks below 17400 level it would witness selling which would take the index towards 17200-17000 .For the week, we expect Nifty to trade in the range of 18300-17400 with mixed bias. The weekly strength indicator RSI is above its respective reference lines indicating positive bias. Read full story
Nifty Bank index gained more than 0.6 per cent to 39,666 on Monday
Index heavyweights such as Reliance Industries, ICICI Bank, ITC, Axis Bank contributed the most to the indices gain
Nestle India, Dr. Reddy's, Hindustan Unilever, M&M, Power Grid Corporation of India among top index losers
Tech Mahindra, Kotak Mahindra Bank, ICICI Bank, HCL Tech, Reliance Industries, NTPC, Axis Bank, State Bank of India were among top S&P BSE Sensex gainers.
BSE Sensex was trading 210 points or 0.4 per cent to 59,010, NSE Nifty 50 was ruling 0.4 per cent up at 17,617
Rupee may depreciate amid strong US dollar index. However, rupee may be supported by strength in domestic equity markets and continues drop in crude oil prices. USDINR (Sep) is likely to trade towards the resistance level at 80.30.
The Nifty has seen a sharp sell-off from the levels of 17992. There were three days sell-off of till 17345. Post that there was pullback till 17726 which also got sold off till 17166. It is the first indication of resistance in place near 18000 levels and any bounce below 18000 levels can be utilized to go short. On the last day of the week, the market witnessed a sell-off in closing hours. It is a clear indication of the current bear market rally has come to halt. As far as RSI(14) and 9 EMA the same is started moving below 70 levels. The super trend (8,2.25) is also shifted above the current bars. So, there are multiple indications that the bears may take charge very soon. Read full story
Nifty has formed an Inside Bar on daily scale but a Bullish candle on weekly frame with long upper shadow. Now, it has to hold above 17550 zones, for an up move towards 17667 and 17777 zones whereas support is placed at 17442 and 17350 zones.
“Nifty had a small range trading session on Sept 02 ahead of the US jobs report due in the evening. It made a higher bottom compared to the previous day. On a weekly basis too, Nifty was down just 0.11% after a very weak opening on Monday. Nifty needs to break out of 17401-17778 band for further cues on directions.”
~ Deepak Jasani, Head of Retail Research, HDFC Securities
Indian equity markets are expected to open in the red as trends in the SGX Nifty ahead of Monday’s session hint at a flat to negative start for benchmark NSE Nifty 50 and BSE Sensex. “Indian markets have been showing resilience despite several global headwinds. While markets in the near term may remain volatile in a broader range, we are positive on the mid to long term perspective on the back of healthy domestic macros, strong fundaments, earnings growth and upbeat festive season. Broader market has been outperforming well and is likely to remain in flavour with action in niche midcap sectors.” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
“Amid the global discussion on growth- Inflation trade off, Indian economy continues to be in a relatively strong position especially among the emerging market (EM) Basket. Policy stability, visibility of growth and correction in commodity prices have led to a turnaround in the FII sentiments, with FIIs turning net buyers since July-22 at $7bn against $33bn worth of net outflows seen between Oct-21 to Jun-22. Given strength in domestic economy we remain positive on equities from a long term point of view.”
~Hemant Kanawala, Senior Executive Vice President & Head –Equity, Kotak Mahindra Life Insurance Company
SpiceJet: Low-cost airline SpiceJet has obtained an extension of up to three months from the Registrar of Companies for conducting its annual general meeting (AGM).
HFCL: HFCL’s board has inter-alia approved raising up to Rs 650 crores which will be invested in enhancing R&D facilities, setting up new production facilities to enhance capacity under the production linked incentive (PLI) scheme and design linked incentive (DLI) scheme.
Nifty futures were trading 43 points, or 0.25 per cent lower at 17,496 on the Singapore Exchange, signaling that Dalal Street is headed for a flat to negative start.
US Markets: US stocks closed out the trading week on a down note on Friday, as early gains from a jobs report that showed a labor market that may be starting to loosen gave way to worries about the European gas crisis. The Dow Jones Industrial Average fell 1.07 per cent, the S&P 500 lost 1.07 per cent,; and the Nasdaq Composite dropped 1.31 per cent.
Asian Markets: Asian shares slipped on Monday while the euro took a fresh spill after Russia shut a major gas pipeline to Europe, leading some governments there to announce emergency measures to ease the pain of soaring energy prices. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1 per cent, and Japan's Nikkei was off 0.3 per cent.
The BSE Sensex gained 37 points at 58,803, while the Nifty 50 declined 3 points to 17,540 on Friday and formed a bearish candle on the daily charts.