Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bulls dominated Dalal Street as benchmark indices surged over 2 per cent amid positive global cues. A global rebound in market sentiment propelled domestic equities higher. The S&P BSE Sensex gained 1,277 points, or 2.25 per cent, to settle at 58,065, while Nifty 50 shut shop at 17,274, up 387 points or 2.29 per cent. The index neared 17,300-mark in intra-day deals. All the sectoral indices ended in the green with auto, bank, metal, IT, power and realty up 2-3 percent. The Indian rupee closed 39 paise higher at 81.48 per dollar on Tuesday against previous close of 81.87.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 4 October
Benchmark indices opened on a positive note with Nifty above 17100. The Sensex was up 783.14 points or 1.38% at 57571.95, and the Nifty was up 244.70 points or 1.45% at 17132.
Indian rupee opened 23 paise higher at 81.64 per dollar on Tuesday against the previous close of 81.87.
Benchmark indices are trading higher in the pre-opening session. The Sensex was up 400.74 points or 0.71% at 57189.55, and the Nifty was up 160 points or 0.95% at 17047.30.
Nifty futures traded 237.5 points, or 1.41 per cent higher at 17,106 on the Singapore Exchange.
Foreign institutional investors (FIIs) net offloaded equities worth Rs 1,565.31 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 3,245.45 crore on September 30.
“Indian markets could open sharply higher, in line with positive Asian markets today and sharply higher US markets on Monday. Wall Street's three major indexes rallied to close over 2% on Monday as U.S. Treasury yields tumbled on weaker-than-expected manufacturing data, increasing the appeal of stocks at the start of the year's final quarter. Nifty now has support on the downside at 16747. On upmoves, 17114 and later 17291 could offer resistance.”Deepak Jasani, Head of Retail Research, HDFC Securities
“For now, global factors are outweighing the Investor's sentiments with concerns over the financial health of Credit Suisse, worsening Russia-Ukraine conflict and worries over inflation. As global nervousness increased, profit booking was witnessed in outperforming stocks and sectors like retail, auto, FMCG. Expect Nifty to remain sideways to weak for now until we see some stability in global markets.” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
The National Highways Authority of India through its latest Infrastructure Investment Trust (InvIT) has raised Rs 1,217 crore to fund road projects. Infrastructure Investment Trusts are instruments on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time. “Ministry is thankful to all investors who have reposed faith in NHAI latest InvIT issue. Issue has been fully subscribed before its closing. NHAI has raised Rs 1,217 crore (excluding its own share of Rs 213 crore),” the Ministry Road Transport and Highways (MoRTH) said in a tweet.
The Board of Directors of Info Edge has approved the investment by the Company of approximately Rs 135.4 crore via a mix of primary and secondary purchase of shares in Sunrise Mentors Private Limited by acquisition of 22,836 Compulsorily Convertible Preference Shares of face value Rs 10 each and 27,089 Equity Shares of face value Rs 10 each. In the previous trading session, the share closed down 1.49 percent or Rs 57.40 at Rs 3,804.90 on the BSE.
Deltatech Gaming Ltd and Pristine Logistics & Infraprojects Ltd have received Sebi's go-ahead to raise funds through an initial public offering (IPO). The two companies, which filed their preliminary IPO papers with Sebi during May and June, obtained its observation letter on September 30, an update with the market's watchdog showed on Monday.
Deltatech Gaming's Rs 550-crore IPO comprises fresh issue of equity shares worth up to Rs 300 crore and an offer-for-sale (OFS) of Rs 250 crore by promoter Delta Corp Ltd.
Pristine Logistics & Infraprojects' initial share-sale comprises fresh issuance of equity shares worth Rs 250 crore and an OFS of 20,066,269 equity shares by promoters and existing shareholders, according to the DRHP.
Tracxn Technologies Ltd's initial public offering will open for subscription on October 10. The IPO of the Bengaluru-based analytics firm is an offer for sale (OFS) of up to 38.67 million shares by shareholders and promoters. The issue closes October 12, and shares will be allotted on October 17.
“Ahead of Fed's emergency closed board meeting later during the day made markets nervous. Nifty was unable to sustain Friday’s spectacular strength on negative sentiments on the global markets. Moreover, the latest US data on inflation (personal consumption and expenditures index) indicates that Fed tightening is justified and more hikes are on the way. Technically speaking, the Nifty’s make-or-break support seen at 16747 mark Below 17747, expect a waterfall of selling towards 16300-16483 zone.”Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd
“For Nifty, 16800 – 16750 are to be considered as immediate supports and if there is no aberration globally, we may see our markets defending this sacrosanct zone. On the flip side, 17000 – 17100 – 17200 is to be seen as a cluster of hurdles. We advise traders to remain light till the time the Nifty continues to oscillate in this broad range. The pragmatic approach would be to focus on stock-specific moves but one needs to be less aggressive and extremely selective.” Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One
Indian share market is likely to open higher in the green as trends in the SGX Nifty hinted at a positive opening for domestic equities. In the previous session, the 30-pack BSE Sensex tumbled 638.11 points or 1.11% to settle at 56,788.81, and the broader NSE Nifty fell by 207 points or 1.21% to end at 16,887.35. According to analysts, any sustainable move below 16750 levels on Nifty could bring sharp negative momentum on the cards. On the upside, 17060-17100 could act as a strong hurdle for the short term. The next important support for the index is placed at 16750 levels.
“The benchmark indices witnessed profit booking at higher levels, the nifty ends 207 points lower while the Sensex was down by 638 points. Among Sectors, Metal and PSU Banks corrected sharply whereas despite weak market sentiment Pharma index outperformed, rallied over 1 percent. Technically, promising pullback rally, on last Monday the index opened with a muted note but due to consistent profit booking at higher levels, it corrected sharply. on daily charts, it has formed inside body bearish candle and also closed below 200 day SMA (Simple Moving Average) which is broadly negative. for the traders now 17050/57300 would be the key resistance level. as long as, the index is trading below the same, the correction wave is likely to continue. Below which the index could retest 16800-16700/56100-55800 level. on the flip side, fresh pullback rally possible only after 17050/57300. Above which, the index could move up to 17150-17200/57600-57800.”Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd
India's economic growth is expected to decline to 5.7 percent this year from 8.2 per cent in 2021, a top UN agency projected on Monday, citing higher financing cost and weaker public expenditures. India's GDP will further decelerate to 4.7 percent growth in 2023, according to the forecast by the United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2022. India experienced an expansion of 8.2 per cent in 2021, the strongest among G20 countries. As supply chain disruptions eased, rising domestic demand turned the current account surplus into a deficit, and growth decelerated, the report said.
Consumer durables and electronics retailer Electronics Mart India's initial public offer (IPO) to open for subscription on 4 October and close on October 7. The price band for the offer has been fixed at Rs 56-59 per share. The company has mopped up Rs 150 crore through its anchor book, ahead of the opening of its initial public offer (IPO). The company has finalised the allocation of 2.54 crore equity shares to anchor investors at a price of Rs 59 per share, as per the filing with the exchanges.
Asia-Pacific shares traded higher on Tuesday after stocks on Wall Street rallied overnight. The Nikkei 225 in Japan rose 2.19% in early trade, and the Topix index was 2.44% higher. South Korea’s Kospi advanced 1.81% on its return to trade after a holiday. The Kosdaq added 2.24%. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.71%. In Australia, the S&P/ASX 200 jumped 2.35%. The Reserve Bank of Australia is set to announce its interest rate decision later Tuesday. Markets in mainland China and Hong Kong are closed for a holiday.
Wall Street's three major indices rallied to close over 2 percent on Monday as US Treasury yields tumbled on weaker-than-expected manufacturing data, increasing the appeal of stocks at the start of the year's final quarter. The Dow Jones Industrial Average rose 765.38 points, or 2.66 percent, to 29,490.89; the S&P 500 gained 92.81 points, or 2.59 percent, at 3,678.43; and the Nasdaq Composite added 239.82 points, or 2.27 percent, at 10,815.44.