Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 ended flat on Friday. BSE Sensex ended 37 points up at 58803, while NSE Nifty 50 ended in red at 17539. Stocks of ITC, Housing Development Finance Corporation (HDFC), HDFC Bank, Axis Bank, Kotak Mahindra Bank, State Bank of India, Tech Mahindra, M&M were among top S&P BSE Sensex gainers. On the flip side, Maruti Suzuki, Reliance Industries, IndusInd Bank, UltraTech Cement, Nestle India, Tata Steel, Infosys, Asian Paints were among top index losers.
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BSE Sensex ended 37 points up at 58803, while NSE Nifty 50 ended in red at 17539
Benchmark indices erased all the intraday gains and trading flat in the highly volatile market. The Sensex was up 2.89 points or 0.00% at 58769.48, and the Nifty was down 12.40 points or 0.07% at 17530.40.
“Domestic market remained volatile during the week. While BSE-30 and Nifty-50 returns were flat, the midcap and smallcap space saw interest from market participants. Both, BSE-Midcap and BSE-Smallcap index outperformed the larger peers this week. BSE Capital Goods and BSE Realty indices were key gainers, whereas the BSE IT index remained under pressure. Auto stock gave positive returns this week amid reporting of August 2022 sales volumes by auto companies. India’s Q1FY23 real GDP grew by 13.5%, aided by private consumption growth. For August 2022, GST collections remained buoyant and manufacturing PMI was healthy. While the crude oil prices has been volatile, the US 10-year bond yield has gradually moved up to 3.25%. In the near term, Indian markets are likely to continue tracking global peers.”
~Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities
ITC market cap reached Rs 4 lakh crore mark after 5 years as the stock surges 50% in 6 months. ITC's market cap had last touched the Rs 4 lakh crore feat on July 14, 2017, when it was Rs 4.10 lakh crore on closing level basis.
Monsoon rains remained subdued in the last week of August, with precipitation levels trailing well below norms, due to which the cumulative rainfall surplus narrowed to 6% above normal, Barclays and IDFC First Bank’s analysts’ said. Out of IMD’s 36 meteorological subdivisions, 30 have received normal or above-normal rainfall this season, while six regions are registered as deficient. The IMD has noted that the rainfall levels could improve in September, with monthly rainfall likely to be above normal. Read full story
The Sensex was up 121.18 points or 0.21% at 58887.77, and the Nifty was up 30.40 points or 0.17% at 17573.20.
Bank Nifty rises 140 points or 0.36% to 39,440.
Deepak Fertilisers, Route Mobile among top weekly losers
Tata Tele soars 51% in one week; EIH, Vaibhav Global other gainers
Natco Pharma board has approved to sell the investment of 15% of shareholding in Joint Limited Liability Company (JLLC) “Nativita”, for an amount of 3,45,000 Euros to M/s. “Pharmasyntez-Nord” Joint Stock Company, a legal entity under the laws of the Russian Federation subject to the approval of the Statutory and Regulatory Authorities.
Sanofi India the only stock that hit 52-week low today
Ashok Leyland, Bank of Baroda among stocks that hit 52-week highs today. Cholamandalam Investmnt and Financial Services, Cochin Shipyard, and Bharat Electronics also on the list.
Asian shares struggled as dollar remains at decades-high ahead of US payrolls report. Japan's Nikkei and Chinese bluechips were mostly unchanged, Hong Kong's Hang Seng index eased 0.2% and South Korea gained 0.5%
Indian markets were trading volatile on Friday amid mixed global cues ahead of the US jobs report. Benchmark index Nifty 50 was flat below 17,550 levels, whereas the S&P BSE Sensex was trading at 58,740 levels. Broader markets, on the contrary, were outperforming frontline indices as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.5%. Sectorally, Nifty Media, Nifty Realty, and Nifty Auto indices traded with marginal gains. However, Nifty Metal, Nifty PSU Bank were bogged down in trade. Amid high volatility, analysts advise investors to adopt a stock specific approach to pocket gains. ICICIDirect in its report picked Asian Paints and Garden Reach Shipbuilders & Engineers as their gladiator stock picks as they see up to 13% upside in these stocks in the next three months.
NDTV share prices crossed Rs 500 mark on Friday for the first time since January 2008. The media company stocks has rallied up to 97% in a month. On August 30, 2022, the Adani group published a detailed public statement about the NDTV's open offer, which will tentatively open on October 17, 2022, subject to the market regulator's approval.
Benchmark indices were trading flat in the highly volatile session. The Sensex was down 93.52 points or 0.16% at 58673.07, and the Nifty was down 27.50 points or 0.16% at 17515.30.
We would advocate avoiding aggressive overnight bets for the time being and keeping a close tab on global developments. Meanwhile, identifying the thematic movers should be the key to better trading opportunities in the current market condition. Read full story
India's oil imports from Russia fall in last two months, down 25% from June. In August, India imported 7,38,024 barrels per day from Russia, 18 per cent lower than in July.
Adani Enterprises hits 52-week high of Rs 3,290 per share on reports of inclusion in the Nifty50 index
The stock surpassed its previous high of Rs 166.30 that it had touched on April 19, 2022. At 09:42 am, it traded 2 per cent higher at Rs 163.55, as compared to an unchanged S&P BSE Sensex at 58,768 points. In the past six months, NTPC has outperformed the market BY gaining 25 per cent, as against 6 per cent rise in the benchmark index. The stock has surged 41 per cent in a year, as compared to 1.4 per cent rise in the S&P BSE Sensex.
Laxman Narasimhan, a veteran in leading and advising global consumer-facing brands, has been named as the new CEO of coffee giant Starbucks, joining a growing cohort of Indian-origin business leaders at the helm of global corporations. Narasimhan, 55 was previously the CEO of UK-based Reckitt Benckiser, a multinational consumer health, hygiene and nutrition company. Starbucks announced on Thursday that Narasimhan will become the company’s next chief executive officer and a member of the Starbucks Board of Directors. Narasimhan will join Starbucks as incoming CEO on October 1, 2022. Read full story
Benchmark indices were trading lower in the volatile session with Nifty around 17500. The Sensex was down 121.07 points or 0.21% at 58645.52, and the Nifty was down 37 points or 0.21% at 17505.80.
NTPC top index gainer, up 2% as green energy arm gets 13 bids for stake sale
Nifty Auto index added 0.6 per cent supported by the Escorts, TVS Motor, Tube Investments of India
“US jobs data to be released today and the CPI numbers expected on September 13th will give an indication about the strength of the US economy and its influence on the US Fed's rate decision later this month. The near-term outlook for the market has turned bearish amidst volatility. Investors can utilise deep cuts in the market to buy domestic cyclicals like autos which are showing strong resilience supported by healthy and improving fundamentals.”
~VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services
“Market is back to a phase of high volatility. The recent resilience of the Indian market can be attributed largely to FIIs turning buyers. But this FII bullishness appears to be over in the near-term as evidenced by the FII sell figure of Rs 2290 crore yesterday. Also FIIs are increasing their short positions in derivatives. This is a rational response to the surging dollar index which touched a 20-year high of 109.6% yesterday. This, and the US 10-year bond yield racing to 3.26% are unfavorable for emerging market equities and therefore investors have to be cautious in the near-term.”
~V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
NTPC, Bajaj Finserv, Kotak Mahindra Bank, Power Grid Corp and Bajaj Finance were among major gainers on the Nifty, while Shree Cements, Maruti Suzuki, Nestle India and HDFC Life were the losers.
Indian indices opened on positive note with Nifty above 17600. The Sensex was up 260.36 points or 0.44% at 59026.95, and the Nifty was up 78.50 points or 0.45% at 17621.30.
Indian rupee opened marginally lower at 79.63 per dollar on Friday against Thursday's close of 79.55.
Indian markets are likely to open on a flattish note today tracking weak global cues. Investors are likely to be cautious amid expectations of future rate hikes. US markets ended mixed tracking losses in technology stocks amid mixed global news flows.
“For the USDINR, the short-term divergence from peers and breakout below 79.70 due to inflows and RBI's efforts together seem to be waning off quickly as the global market conditions start to again weigh heavy on the currency. On the other side, FII flows, RBI’s selling, and some cool-off in oil prices are supporting the sentiments keeping the currency in a tussle of tight range between 79.20-80.10. In the short term, USDINR will need a strong convincing reason to break the upside of 80.10 as we saw RBI intervention and traders actively selling near 80.10 levels. While in the medium term, the probability of the pair breaking all-time highs is high amid the deteriorating global scenario. Until the pair remains in a confined range of 79.20-80.10, dips near 79.40 can be used for buying and upticks near 80.00 could be utilized for selling.”
Amit Pabari, MD, CR Forex Advisors
Benchmark indices opened higher in the pre-opening session. The Sensex was up 18.35 points or 0.03% at 58784.94, and the Nifty was up 30 points or 0.17% at 17572.80.
India’s unemployment rate surged to a one-year high of 8.3 percent in August as employment fell sequentially by 2 million to 394.6 million, according to the Centre for Monitoring Indian Economy. In July, the unemployment rate was at 6.8 percent.
India collected Rs 1.44 lakh crore in Goods and Services Tax (GST) in August, registering an increase of 28 percent from the mop-up a year back, the finance ministry said on September 1. However, when compared to the money collected in July, the August GST mop-up was 4 percent lower.
“Local benchmark indices are likely to log gains in early trades Friday amid mixed Asian market cues, and if global cues improve then there is a bright chance that Nifty could scale higher. The effect of Jackson Hole is still revolving across financial markets with a soaring dollar and falling equities as the main themes. Overnight, the US Dollar index spiked to a fresh multi-decade high near 110.00, while the U.S. Treasury yields rising again with the 2-year/10-year yield curve remaining inverted at around 26 basis points, which is a key recession warning. Technically, Nifty is likely to be in a trading range of 16500-18500 zone, while the 18000 mark will be Nifty’s crucial resistance zone.”
~Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
Gold edged up on Friday but was headed for a third straight weekly drop, as data pointing at a resilient U.S. economy bolstered the likelihood of Federal Reserve keeping interest rates higher for longer and pinned the dollar near recent peaks.
Spot gold XAU= inched up 0.1% to $1,697.80 per ounce, as of 0055 GMT but was down 2.2% for the week so far.
“Indian rupee to open slightly weak at 79.70 as dollar index rises to 109.60 with GBP falling to its lowest in 2 years while Yen touching the 140 mark. The rupee is expected to be in a range of 79.50 to 80.00 for the day as the market awaits US NFPR this evening. India's trade deficit for August Prel. Came to 28.68 bio USD vs. USD 30 bio in July; Exports 33 b vs. 36.27 bio and imports 61.68 bio vs. 66.27 bio. Most brokerage houses have slashed India's GDP growth to around 7% after a lower than expected 1st quarter GDP growth of 13.5%. The GST tax collection was at Rs.1.44 lakh crore for the 6th consecutive month. Brent oil prices have however fallen to $ 93.50 per barrel while Asian currencies remain on the weaker side against the dollar. Exporters keep selling near 80.00 levels while importers may buy near to 79.50 levels for hedging purposes.”
~Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors
Benchmark Indices are expected to open on a positive note as trends on SGX nifty indicate an opening with 10 points gain. Asian markets are trading mostly lower with Nikkei, Taiwan Weighted in the red, while Kospi up 0.5 percent. A late rally helped the S&P 500 snap a four-session losing skid on Thursday with investor focus turning to a key report on the labor market on Friday. India's services exports increased by 20.2 percent year-on-year to $23.26 billion in July, according to Reserve Bank data released on Thursday. Also, India's services exports increased by 20.2 percent year-on-year to $23.26 billion in July, according to Reserve Bank data released on Thursday. Crucial support for Nifty 50 is 17300 while Nifty may face some resistance at 17,800.”
~Mohit Nigam, Head – PMS, Hem Securities
Adani Enterprises will replace Shree Cement Ltd from National Stock Exchange's benchmark index Nifty 50 from September 30. Adani Enterprises is the flagship company of Adani Group and Shree Cement is the leading cement-making firm, owning brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong. The Index Maintenance Sub-Committee – Equity (IMSC) of NSE Indices Limited has decided to make the changes as a part of its periodic review, a release said on Thursday.
“Gloomy global cues amidst a hawkish Fed rhetoric triggered a massive sell-off in local markets as investors dumped IT, metal and oil & gas stocks. The benchmarks also shrugged off a positive collection report of Goods and Services Tax (GST) which rose 28% to Rs 1.43 lakh crore in August. Technically speaking, Nifty’s biggest hurdle is at this week’s high at 17777. Above the same, all bullish eyes will be on the Nifty’s psychological 18,000 mark. On the other hand, Nifty’s line on the sand is at 17371 mark.”
~ Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on 5 September, but the benchmarks were still on track to post their worst weekly drop in four on fears COVID-19 curbs in China and weak global growth will hit demand. Brent crude futures rose $1.20, or 1.3%, to $93.56 a barrel at 0117 GMT, while U.S. West Texas Intermediate (WTI) crude futures jumped $1.16, or 1.3%, to $87.77 a barrel.
The dollar was headed for a third weekly gain in a row and stood near its highest levels for decades on the euro and yen on Friday, with investors in little mood for selling ahead of U.S. labour data that could bolster the case for interest rate hikes.
A solid U.S. manufacturing survey overnight was enough to push the greenback above 140 yen for the first time since 1998 and it also hit a 2-1/2 year high against sterling and six week highs on the Australian and New Zealand dollars.
Domestic share market is likely to open on a positive note on Friday, hinted SGX Nifty. Nifty futures on the Singapore Exchange were trading 0.25% higher ahead of today’s trading session. “Indian equities have been witnessing wild swings for the last few days. However Strong macro data, along with positive institutional flows have helped provided support at lower levels. Also action continues in mid and small caps with niche sectors doing well. Auto, Cap Goods, Defence, consumption, real estate, healthcare stocks are in string momentum which is likely to continue,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Adani Enterprises: Adani Enterprises Ltd will replace Shree Cement Ltd from National Stock Exchange’s benchmark index Nifty 50 from September 30.
NDTV: In yet another attempt to thwart Adani Group’s hostile takeover of a controlling stake in New Delhi Television (NDTV), the media firm said transferring its shares would require Income Tax Department’s approvals
A late rally helped the S&P 500 snap a four-session losing skid on Thursday with investor focus turning to a key report on the labor market on Friday. Stocks had been solidly lower for most of the session, after data showed weekly jobless claims fell more than expected to a two-month low last week and layoffs dropped in August, giving the Fed a cushion to continue raising rates to slow the labor market.
Investors now await the monthly nonfarm payrolls report on Friday for more evidence on the labor market. The Dow Jones Industrial Average rose 145.99 points, or 0.46%, to 31,656.42; the S&P 500 gained 11.85 points, or 0.30%, to 3,966.85; and the Nasdaq Composite dropped 31.08 points, or 0.26%, to 11,785.13.
“Immediate support for Bank Nifty is placed at 38,850 to 38,900 levels whereas the banking index is facing hurdle at 39,800 to 39,850 that means the index is expected to trade in near 1,000 range on Friday session.”
~Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher
“Nifty failed to build on to the large gains made on the previous day. Global sentiments have been able to halt the rallies in India over the past few weeks, though the broader market seems positive. 17696-17345 could be the band for the Nifty in the near term,”
~Deepak Jasani, Head of Retail Research at HDFC Securities
BSE Sensex and NSE Nifty 50 ended 1.3 per cent down, each, on Thursday, a day of weekly F&O expiry. S&P BSE Sensex ended 770.48 points or 1.29 per cent lower at 58,766.59, and the NSE Nifty 50 settled 216.50 points or 1.22 per cent lower at 17,542.80. Index heavyweights such as Reliance Industries Ltd (RIL), Infosys, ICICI Bank, Tata Consultancy Services (TCS), and Housing Development Finance Corporation (HDFC), among others contributed the most to the indices fall. In the broader markets, S&P BSE MidCap and S&P BSE SmallCap indices ended half a per cent up. BSE MidCap index jumped 0.6 per cent or 146 points, and SmallCap index gained 0.5 per cent or 138 points to settle at 28,789.