Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic stock market indices BSE Sensex and NSE Nifty 50 ended half a per cent up on Monday, despite weakness in global market. BSE Sensex ended 300 points or 0.5 per cen up at 59,141, while NSE Nifty 50 index at 17,622, up 91 points or 0.5 per cent. Stocks of M&M, Bajaj Finance, State Bank of India (SBI), Hindustan Unilever (HUL), Nestle India, Bajaj Finserv, and Reliance Industries among others were top BSE Sensex gainers. On the flip side, Tata Steel, ICICI Bank, Power Grid Corporation of India, NTPC, Asian Paints were top index losers. India VIX, the volatility index, rose 0.6 per cent to settle at 19.94 levels
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates
BSE Sensex ended 300 points or 0.5 per cent up at 59,141, while NSE Nifty 50 index at 17,622, up 91 points or 0.5 per cent
Harsha Engineers International’s Rs 755-crore IPO, which got subscribed 71.32 times on the final day of bidding, is likely to finalise the basis of allotment on Wednesday, 22 September. The portion reserved for qualified institutional buyers was subscribed 178.26 times and that for non-institutional investors was subscribed 71.32 times. The retail investors portion was subscribed 17.63 times. The IPO shares were sold at a price band of Rs 314-330 per share. The equity shares are expected to list on BSE and NSE on 26 September 2022. Read full story
Sensex is up 411.31 points or 0.70 percent at 59,252. Nifty is up 132.70 points or 0.76 percent at 17,663. Among sectors, capital goods, realty, metals and power are under pressure while autos are leading the rally. Mahindra & Mahindra, Eicher Motors, Hero Motocorp are among the top gainers in autos.
Adani Wind Energy MP One Private Ltd (AWEMP1PL) (earlier known as SBESS Services ProjectCo Two Private Limited), a subsidiary of Adani Green Energy Limited (AGEL) has commissioned a 324.4 MW Wind Power Plant in Dhar, Madhya Pradesh. The plant has two 25-year Power Purchase Agreements (PPAs) with SECI of 274.4 MW and 50 MW, at Rs. 2.83/kwh Adani Green Energy stock was quoting at Rs 2,350.85, up Rs 35.55, or 1.54 per cent on the BSE.
Avoid buying this dip as market is losing strength and smart money has encashed Bank Nifty new high and this correction can go little deeper. Stay light except few stock specific longs. Co-Head Business Affiliate Grp & MD, JM Financial Services
Benchmark indices erased some of the intraday gains but still trading higher with around 17600. The Sensex was up 269.92 points or 0.46% at 59110.71, and the Nifty was up 86.20 points or 0.49% at 17617.
Going ahead, we reiterate our structural positive stance and expect the Nifty to gradually head towards the January 2022 high of 18300 by October while strong support of 17300 is expected to be held. The index is undergoing healthy consolidation which will help to cool off the overbought conditions (daily and weekly stochastic oscillators cooled off to 36 and 56, respectively) ahead of U.S. Fed event this week. Read full story
For the week, we expect Nifty to trade in the range of 16900-18100 with mixed bias. The weekly strength indicator RSI is above its respective reference lines indicating positive bias in the medium term. Whereas daily RSI given a cross over below its respective reference lines indicating that some profit booking is expected in the short term. Read full story
At the beginning of last week, we had less fear of a long liquidation as the long build up was significantly lower than what was prevailing in early April and mid August, the last two occasions when Nifty sniffed at 18k vicinity and turned lower. FIIs’ long exposure in the index future segment was boosted to 28% on Friday, despite the fall, marking an increase from 22% seen at the start of the week. It was the retail segment that was long heavy, having accumulated 72.9% of the longs in the index future segment, last week, and they have since reduced their exposure marginally to 68.9%. Read full story
“The defence sector is poised to perform well on the back of strong ordering activity, the government’s thrust on indigenous manufacturing, and export potential. Additionally, strong balance sheets and reasonable valuations are cheery on the cake. We are positive about the sector and our top picks are BEL, HAL, and BDL.”
~Punit Patni, Equity Research Analyst, Swastika Investmart
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading lower on Monday, even as yellow metal prices gained globally. On Multi Commodity Exchange, gold October futures were ruling Rs 140 or 0.3 per cent at Rs 49,240 per 10 gram, as against the previous close of Rs 49,380. Silver December futures were trading at Rs 56,841 per kg, up 121 or Rs 0.21 per cent. Read full story
The continuation of hostilities between Russia and Ukraine has led to an entrenched episode of higher inflation across the globe. However, commodity prices have come off sharply from their peaks with renewed concerns on global growth, led by strong monetary tightening that is likely to continue at least until Dec'22. At this juncture, India seems isolated from the high inflation-slow growth challenges. Motilal Oswal Financial Services
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel has been kept steady on 19 September 2022 (Monday), keeping costs steady for more than three months now. Petrol and diesel in Delhi are priced at Rs 96.72 and Rs 89.62 a litre, respectively. In Mumbai, petrol is retailing at Rs 106.31 per litre and diesel at Rs 94.27 per litre. 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
HDFC Life Insurance Company has received approval from National Company Law Tribunal for merger of Exide Life Insurance Company with itself.
As macroeconomic and policy uncertainty remains elevated, further market volatility is expected. US data pointed to robust numbers like retail sales and a strong labor market which is raising expectations of more aggressive action by the Fed as it tries to cool inflation. US 2-Year bond spiked to 15-year high at 3.87% while 10-year bond is hovering at 3.44%, implying a short-term pain to continue in the global markets. Moreover, US Dollar Index surged to multi years high, resulting in sharp decline across the commodity prices (Gold fell to 2-year low, aluminum, copper, oil to 2-7 month low). Apart from the US rate decision, Bank of England policy decision on 22nd (Thursday) and domestic Logistic policy will be announced today.
UltraTech Cement, Asian Paints, Titan Company, Tata Steel, HCL Tech, Maruti Suzuki were index laggards
Bajaj Finserv, M&M, Infosys, State Bank of India, Axis Bank, IndusInd Bank, and Power Grid Corporation of India were among top index gainers
BSE Sensex was trading 148 points or 0.3 per cent down at 58636, NSE Nifty was down 50 points or 0.3 per cent at 17540
The near term texture of the market has turned weak and the buy on dips strategy is unlikely to work in the present risk-off global environment. FIIs turning sellers is a short-term negative. The market is likely to take a decisive trend only after the Fed policy announcement on 21st September. The market expects the Fed to raise rates by 75bp and reiterate its hawkish stance. But since the market is going into the event with light positions and no positive expectations any positive data or comment may act as a trigger for a relief rally after the Fed announcement. Bank Nifty will continue to be the pillar of support for Nifty and near-term sentiments are negative for IT despite reasonable valuations. The situation is very fluid and therefore it would be better for investors to wait and watch till the Fed meeting is over. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
“Benchmark Indices are expected to open on a positive note as suggested by trends on SGX Nifty. US stock markets ended on the lower side on Friday as investors are reacting to the warning of impending global slowdown from FedEx. Dow Jones was down by 139 pts, whereas NASDAQ was down by 0.9% to 11448 levels. Asian markets are trading on a mixed note as investors are waiting for the outcome from various central banks which are meeting this week. The Australian market is trading 0.11% higher whereas South Korea is down by 0.4%. Goldman Sachs cut its US economic growth estimates for 2023 after recently boosting its predictions for Federal Reserve interest rate hikes. Oil prices are trading higher due to the weaker dollar and supply concerns. On the technical front, 17400 and 17700 are immediate support and resistance in Nifty 50. For Bank Nifty 40300 and 41000 are immediate support and resistance respectively.”
~Mohit Nigam, Head – PMS, Hem Securities
“The support for Nifty has shifted around 17300 levels while on the upside 17850 may act as an immediate hurdle. On the other hand, Bank Nifty has support at 40000 levels while resistance at 41400 levels. Overall, the Nifty is looking weak on charts closing below 17500 can open the gate for 17300-17200. Sell on rising is advisable till Nifty didn’t give closing above 18000 mark.”
~Palak Kothari, Senior Technical Analyst, Choice Broking
“Investors are widely expecting an aggressive rate hike this week, with 1/3 of market respondents expecting the FED to do 100 bps, whereas a 75bps hike is mostly discounted. To combat pressure on the rupee, the RBI most likely will have to do at least 50 bps rate hikes soon. The Indian Ten Year yield spiked 15 bps to 7.25% in the last three session, in expectation of the same. The adverse rub-off impact of this was felt in the Indian equity market also, over the last three sessions including extended losses on Friday. Further to that, the World Bank gave a gloomy picture of world economies heading toward deep recession, as central banks across the world simultaneously hike interest rates to combat persistent inflation. Fitch especially cut India's economic growth forecast for 2022/23 to 7% from 7.8%. All this fuelled the jitteriness and led to a surge in the Indian market fear index (VIX) above 20, for the first-time post-June 2022. We expect the market to remain volatile in the coming weeks before the market gets more cues from the ensuing quarterly season, which begins early next month.”
~Aishvarya Dadheech, Fund Manager, Ambit Asset Management
Bitcoin on Sunday dropped 1.54% to $19,804, slipping from the 20,000 mark after losing $310 from its previous close. The cryptocurrency is down 58.9% from the year's high of $48,234 on March 28. Ethe , the coin linked to the ethereum blockchain network, dropped 3.2 % to $1,422.1, losing $47 from its previous close.
Vedanta and Foxconn have hired experts who are evaluating possible locations for their upcoming semiconductor plant in Gujarat and a site may be finalised in the next couple of weeks, Gujarat Science and Technology Department Secretary Vijay Nehra said. So far, the joint venture company has not finalised the location as they are evaluating various sites in Gujarat based on technical aspects, commercial viability and connectivity to set up the semiconductor and a display fabrication unit in the state.
India's foreign exchange reserves declined by $2.234 billion to stand at $550.871 billion for the week ended September 9, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the reserves had dropped by $7.941 billion to $553.105 billion. The fall in the reserves during the reporting week was on account of a dip in the foreign currency assets (FCAs), a major component of the overall reserves, according to the Weekly Statistical Supplement released by the RBI.
Oil prices climbed during early Asian trade on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears of a global recession that could dampen fuel demand. Brent crude futures rose $1.15, or 1.3%, to $92.50 a barrel by 0049 GMT after settling up 0.5 per cent on Friday. US West Texas Intermediate crude was at $86.16 a barrel, up $1.05, or 1.2 per cent.
Indian stock market is likely to open in green on Monday as trends in the SGX Nifty hinted at a positive start for Indian benchmark indices, with a gain of 43 points. In the previous session, the BSE Sensex fell nearly 1,100 pts to 58,841, while the NSE Nifty 50 plunged around 350 pts to 17,531. “Indian markets were the worst performers in the Asian pack on Friday, as higher inflation and likely aggressive rate hikes by the US Fed sent stocks tumbling across the board. We are likely to see strong bouts of volatility in the coming sessions as global slowdown looms large. Technically, the double top formation on daily and intraday charts and bearish candle on weekly charts is indicating further weakness from current levels,” said Amol Athawale, Deputy Vice President – Technical Research, Kotak Securities.
Shares in the Asia-Pacific were mixed ahead of major central bank meetings this week. The S&P/ASX 200 in Australia was 0.11 per cent higher, while South Korea’s Kospi opened higher before falling 0.45 per cent. Japan’s market was closed for a holiday.
US stocks ended in the red on Friday, falling to two-month lows as a warning of impending global slowdown from FedEx hastened investors' flight to safety at the conclusion of a tumultuous week. The Dow Jones Industrial Average fell 139.4 points, or 0.45 per cent, to 30,822.42, the S&P 500 lost 28.02 points, or 0.72 per cent, to 3,873.33 and the Nasdaq Composite dropped 103.95 points, or 0.9 per cent, to 11,448.40.
Nifty futures were trading 19 points, or 0.11% higher at 17,582 on the Singapore Exchange, signaling that Dalal Street was headed for a positive start.