Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 ended marginally higher on Friday. BSE Sensex gained 105 points or 0.2 per cent at 59,793, while NSE Nifty 50 index added 35 points or 0.2 per cent to settle at 17833. Stocks of Tech Mahindra, IndusInd Bank, Infosys, HCL Tech, Maruti Suzuki India, TCS, State Bank of India were among top index gainers. On the flip side, UltraTech Cement, M&M, L&T, Bajaj Finance, Titan Company settled in the red.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 9 September 2022, Friday
BSE Sensex gained 105 points or 0.2 per cent at 59,793, while NSE Nifty 50 index added 35 points or 0.2 per cent to settle at 17833 on Friday
Global consulting and audit firm EY has decided to split its two businesses into two distinct, multidisciplinary organisations, following partner votes approving the call. This will separate its audit operations from consulting in certain jurisdictions into two separate organisations. The firm is looking to ease regulatory concerns over potential conflicts of interest. “The next steps include ongoing engagement with partners to provide them with more information in advance of the voting process. Read full story
Harsha Engineers International has fixed the price band at ₹314 to ₹330 per Equity Share for its maiden public offer. The initial public offering of the Company will open on Wednesday September 14, 2022, for subscription and close on Friday, September 16, 2022. Investors can bid for a minimum of 45 equity shares and in multiples of 45 equity shares thereafter.
Multiplex operator PVR has called a meeting of its shareholders and creditors on October 11 to seek their approval for the scheme of merger with rival Inox Leisure (PTI)
Domestic equity markets were holding gains on Friday amid healthy global cues. Benchmark indices NSE Nifty 50 index was hovering near 17,900 levels with a gain of 105 points, while the S&P BSE Sensex climbed around 300 points to trade near 60,000 levels. Broader markets, too, climbed in tandem as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.6%. IndusInd Bank, ICICI Bank, SBI, HUL, Tata Steel were top contributors. Sectorally, Nifty Bank and Nifty Metal indices leading the charge. A total of 191 stocks hit 52-week high on BSE intraday, while 11 securities were at fresh lows on Friday. Read full story
In my view, if the Nifty crosses 18,200 after touching the initial hiccup of 18,000 we believe that Indian Market is going to touch a new high and I have a strong conviction that Indian market will touch a new high compare to any other market in the world be it US, Europe, China or Hang Seng. Amit Jain, Co-founder, Ashika Global Family Office Services
Sensex has crossed 60k mark once again within a month, showing strength in the market. Buying was seen at every fall suggesting the inherent strong fundamentals of the domestic market. Robust macro data points, healthy corporate earnings and above average monsoon is providing support to the market despite weak global cues. Though the aggressive rate hikes by global central banks are likely to continue in near term despite the fear of recession looming large, Indian market is showing resilience as it benefits from the from the strong domestic consumption and China+1 strategy. Even FIIs have been enthusiastic about Indian Markets since Aug’22, despite noise surrounding the global cues. FIIs have bought more than Rs 20k crore in last 40 days. Further, fall in crude Oil prices to seven-month lows aided domestic sentiments. Now it needs to sustain this momentum going forward, for further upmove towards higher levels. Sneha Poddar, AVP – Research, Broking & Distribution, Motilal Oswal Financial Services
Going forward, the USD is going to be a safe asset as the Euro and the pound will be getting really hurt by the gigantic energy problem that they have, and the amount of money that they’re going to have to spend in order to alleviate people’s energy bills this winter. This would be bad news for gold and we don’t expect gold to give any substantial return this year. Read full story
Going forward, we expect Nifty to continue this northward move towards 17900 – 18000 and then beyond the 18000 mark. On the flipside, if there is no aberration globally, 17700 – 17600 should now act as immediate support. Traders are advised to continue with an optimistic approach and use declines to add fresh longs. Read full story
Tamilnad Mercantile Bank’s Rs 831-crore IPO, which got subscribed 2.86 times, is likely to finalise the basis of allotment on Monday, 12 September. The IPO was sold in the range of Rs 500-525 per equity share, and it received a strong response from all the categories of investors. The equity shares are expected to list on BSE and NSE on 15 September 2022. The initiation of refunds or unblocking of funds from ASBA account will take place on 13 September, and the equity shares will get credited to allottees demat account on 14 September 2022. Read full story
It is usually seen that when we don't enter a bear market, the reversal to previous highs is quick and almost one sided. And this seems to be happening again. I won't be surprised if we test a new all time high very soon. However, while new highs are definitely worth cheering, it is also a time for stock taking and exiting out of stocks that have run up a great deal or where fundamentals have taken a turn for the worse. To that extent, caution needs to be exercised. Rahul Shah, Co-Head of Research, Equitymaster
The initial public offering (IPO) of Harsha Engineers International Ltd, will open for bidding on 14 September. The precision bearing cages manufacturer has set a price band of Rs 314-330 per share for its maiden public issue which will remain open for subscription till Friday, 16 September. The company plans to raise Rs 755 crore through this IPO. The anchor book will open on Tuesday, 13 September. Read full story
Even as Amazon finds profitability elusive in India despite pumping in about Rs 50,000 crore, the going will get even tougher as it will have to compete with the likes of Meesho, BlinkIt and Swiggy, to capture the next phase of growth. Amazon India will have to compete with the ‘new’ commerce players with a drastic shift from slow e-commerce to quick/instant delivery, and high margin businesses such fashion, beauty and personal care, where it has struggled so far, brokerage firm Bernstein said in a recent research note. Read full story
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading higher on Friday, as rates in the international market soared. On Multi Commodity Exchange, gold October futures were ruling Rs 186 or 0.4 per cent up at Rs 50,542 per 10 gram. Silver December futures were up Rs 654 or 1.2 per cent to trade at Rs 54,935 per kg. Globally, yellow metal prices rose, helped by a dip in the dollar, but expectations of more interest rate hikes capped further gains as U.S. Federal Reserve Chair Jerome Powell reiterated the central bank’s commitment to tame inflation. Read full story
The 12 day trading range of 17,400-17,777 and set a positive undertone in the market. Positive market breadth and outperformance of our domestic Index in comparison to its global peers might propel to challenge the psychological level of 18,000. One can expect the Nifty to eventually head towards 18,300 in September 2022 as it is the swing high of January 2022. Nifty also registered a bullish golden crossover in August (50-DEMA crossing above 200-DEMA) implying major shift of momentum from a medium term perspective. During the day index is likely to open on a positive note amid pullback in global equity market and sharp decline in crude prices and is likely to continue with its positive momentum and challenge 18,000 levels. Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking
BSE Sensex gave up 60,000, and NSE Nifty 50 index slipped below 17900 levels after few minutes into the trade.
“Nifty rose on September 8 after a two day fall. Nifty opened gap up and then remained in a 102 point range through the day. At close, Nifty was up 0.99% or 174.35 points at 17798.75. Among sectors, Banks and IT gained the most, while Metals and Realty fell the most. Broad market indices i.e. Midcap and Smallcap indices rose less than the Nifty, thus underperforming. Advance decline ratio was positive at 1.56:1 Nifty broke above the recent high of 17777 easily. Now the next tough resistance is 17992. On falls, 17651 could be the support.”
~ Deepak Jasani, Head of Retail Research, HDFC Securities
IndiGo: Passenger airline IndiGo operator InterGlobe Aviation co-founder Gangwal family sold 2.74% stake in the company through open market transactions.
Vodafone Idea: The government will acquire a stake in debt-ridden Vodafone Idea after the stock price of the company stabilises at Rs 10 or above.
Future Lifestyle Fashions: The company has received a three-month extension from the Registrar of Companies for holding its Annual General Meeting.
“Positive global cues helped markets rebound from 2-day losses led by banking stocks. India's growth resilience is something that investors are betting on considering concerns of global slowdown amid rising interest rates. Technically, the Nifty took support near 17690 and reversed thereafter. On daily charts, the index has formed a small bullish candle and has reclaimed the 20 day SMA (Simple Moving Average) level as well. For the trend following traders now the 20 day SMA or 17650 would act as a key support level. Above which, the index could rally till 17900-18000. On the flip side, below 17650, bulls may prefer to exit from the long positions.”
~ Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
Indian equity markets are likely to extend gains on Friday. SGX Nifty hinted at positive start for BSE Sensex, NSE Nifty 50 as Nifty futures traded 86 points, or 0.48% higher at 17,905.50 on the Singapore Exchange ahead of today’s trading session. “Nifty likely to continue northward move towards 17900 – 18000 and then beyond the 18000 mark. On the flip side, if there is no aberration globally, 17700 – 17600 should now act as immediate support. Traders are advised to continue with an optimistic approach and use declines to add fresh longs. One can continue to focus on thematic movers and also, and the broader market remains the real flavor,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.
Markets in Asia-Pacific were mostly higher even as investors digest Federal Reserve Chair Jerome Powell’s latest comments as he vowed to raise rates to tackle inflation “until the job is done.” In Japan, the Nikkei 225 rose 0.61 percent and the Topix rose 0.35 percent. In South Korea, the Kospi was up 0.33 percent and the Kosdaq rose 1.25 percent. In Australia, the S&P/ASX 200 also gained 0.25 percent.
Wall Street's main indices posted gains on Thursday mainly lifted by financial institutions and healthcare companies, as investors digested hawkish remarks from policymakers that cemented bets of a large interest rate hike later this month. Indices bounced back and forth in choppy trading as concerns over the Federal Reserve's next steps to tame a surging inflation remain. The Dow Jones Industrial Average rose 193.24 points, or 0.61 percent, to 31,774.52, the S&P 500 gained 26.31 points, or 0.66 percent, to 4,006.18 and the Nasdaq Composite added 70.23 points, or 0.6 percent, to 11,862.13.
The BSE Sensex jumped 659 points to 59,688, while the Nifty50 rose 174 points to 17,799, which was above the five-day consolidation range, and formed a small-bodied bullish candle on the daily charts.