Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex, and NSE Nifty 50 ended one per cent higher on Thursday, a day of weekly F&O expiry. BSE Sensex gained 659 points or 1.12 per cent to settle at 59,688, while the NSE Nifty 50 surged 1% to finish trade at 17,798.75. Stocks of Tech Mahindra, Axis Bank, ICICI Bank, Mahindra & Mahindra (M&M), Bharti Airtel, State Bank of India (SBI), UltraTech Cement, Bajaj Finserv, IndusInd Bank, among others. On the flip side, Tata Steel, NTPC, Titan Company, Nestle India were among the index losers.
BSE Sensex gained 659 points or 1.12 per cent to settle at 59,688, while the NSE Nifty 50 surged 1% to finish trade at 17,798.75.
Indian equity markets were trading on a positive note on Thursday, weekly F&O expiry day, tracking strong global cues. Benchmark index NSE Nifty 50 rose 100 points to trade above 17,700 levels and the S&P BSE Sensex climbed over 450 points to trade at 59,513 levels. Broader markets too were in the green as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 1%. Sectorally, Nifty Bank and Nifty Auto indices gained, while Nifty Metal and Realty indices were bogged down in trade. Read full story
Sensex is up 459.10 points or 0.78 percent at 59,488.01. Nifty gains 117.40 points or 0.67 percent at 17,741.80
Online sales are expected to register a 28 per cent year-on-year growth to reach $11.8 billion during the festive month. In the first week itself, the sales are estimated to reach $5.9 billion, projecting a 28 per cent increase from $4.8 billion last year, said a report by Redseer Strategy Consultants. The festive month generally starts from the first sales event and lasts roughly till Diwali week, including non-sale or business-as-usual days in between, according to Redseer. Read full story
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India were trading muted on Thursday, even as yellow metal inched higher in global markets. On Multi Commodity Exchange, gold October futures were trading Rs 16 down at Rs 50,490 per 10 grams. Silver prices were up Rs 343 or 0.6 per cent to Rs 54,370 per kg. Globally, yellow metal prices inched higher as a slight pullback in U.S. bond yields and bargain-hunting underpinned the market, although a stronger dollar and aggressive interest rate hike fears limited gains. Read full story
Evolution of handling inflation has changed drastically in the last 4-5 years, Union Finance Minister Nirmala Sitharaman said in her address at the inauguration event of Indian Council for Research on International Economic Relations (ICRIER) on ‘Taming Inflation’. Sitharaman added that handling inflation is a subset of handling the economy, and assured that centralised banks were acting in synchrony against inflation. Despite India’s global interconnectedness, Sitharaman noted that the country has managed inflation such that it has not been an entirely monetary exercise. “Inflation impact spreads due to globalisation,” Nirmala Sitharaman said in an event. Read full story
FM Sitharaman noted that the country has managed inflation such that it has not been an entirely monetary exercise.
Evolution of handling inflation has changed drastically in the last 4-5 years, Union Finance Minsiter Nirmala Sitharaman, said in her address at inaugration event of Indian Council for Research on International Economic Relations (ICRIER) on 'Taming Inflation'
A decade ago, India ranked 11th among the largest economies and UK was 5th. If history has taught us something it’s that, UK has not been able to claim a position for long. Sooner or later, they have been overthrown and sent back to their mainland. India leaped past the UK in the final three months of 2021 to become the fifth-biggest economy. The Indian economy is expected to grow more than 7% this year. A sharp rebound in Indian stocks this quarter has seen their weighting rise to the second spot in the MSCI Emerging Markets Index, trailing only China. IMF’s forecast show India overtaking the UK in dollar terms on an annual basis, positioning it right behind US, China, Japan and Germany. Rising and thriving each day. Amit Jain, Co-founder, Ashika Global Family Office Services
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The price of petrol and diesel has been kept steady on 8 September 2022, keeping costs steady for more than three months now. Petrol and diesel in Delhi cost 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
The short-term trend of Nifty continues to be range bound at 17750-17400 levels. Having moved up from near the lower range on Wednesday, there is a possibility that Nifty could make an attempt towards upper range and also crucial trend line resistance around 17800 levels in the coming sessions. Read full story
Nifty Bank index was up nearly 1 per cent to trade at 39,772
Index heavyweights such as ICICI Bank, Infosys, Housing Development Finance Corporation (HDFC), Asian Paints, Bharti Airtel contributed the most to the indices' gain.
Asian Paints, Tech Mahindra, Bharti Airtel, M&M, ICICI Bank, Ultratech Cement, Infosys, Wipro, IndusInd bank, ITC, Hindustan Unilever were among top Sensex gainers
BSE Sensex gained 440 points or 0.75 per cent to 59,469, while NSE Nifty 50 crossed 17750.
Nifty Put options OI distribution shows that 17,500 has highest OI concentration followed by 17,400 & 17,300 which may act as support for current expiry and on the Call front 17,900 followed by 17,700 & 17,800 witnessed significant OI concentration and may act as resistance for current expiry. Options data suggest an immediate trading range between 17,400 and 17,800 levels & 17600 acting as pivotal levels. Read full story
The overall strength in our domestic market is providing the cushion at lower levels; whereas the uncertainty in US bourses is not letting us surpass the higher range. In our sense, it’s a matter of time we would see oversold US markets rebound, which will provide the much needed impetus to our key indices. As far as levels are concerned, the sturdy wall remains unchanged at 17700 – 17800; whereas on the flipside, 17600 followed by 17500 are to be treated as key supports.
~ Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One
“A long bull candle was formed on the daily chart after opening lower. Technically, this pattern indicates sideways movement in the market around 17750-17400 levels. Yesterday's upside recovery after a weak opening signal an emergence of buying interest from the lows. This is positive indication for the market ahead. Nifty cant be ruled out of another attempt towards the hurdle of 17800 levels in the coming sessions. Nifty on the weekly chart placed just below the crucial overhead resistance of significant down trend line around 17800 levels. The repeated hitting of the said hurdle was seen in the last few weeks. This indicates strength of underlying Nifty at the highs.”
~Nagaraj Shetti, Technical Research Analyst, HDFC Securities
“The short term trend of Nifty continues to be range bound at 17750-17400 levels. Having moved up from near the lower range on Wednesday, there is a possibility of Nifty making an attempt towards upper range and also crucial TL resistance around 17800 levels in the coming sessions.”
~Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Markets in Asia-Pacific traded higher today, following Wall Street’s solid rebound rally overnight in the best day since August 10 for all three averages. Investors will also be closely watching Federal Reserve Chair Jerome Powell’s speech Thursday as markets brace for another 75 basis-point hike later this month. In Japan, the Nikkei 225 was 1.62 percent higher and the Topix was also up 1.6 percent. In Australia, the S&P/ASX 200 was up 0.41 percent and the Kospi in South Korea was up 0.33 percent.
US stocks on Wednesday climbed the most in roughly a month as bond yields eased, with investors shrugging off hawkish remarks made by Federal Reserve officials on Wednesday. The Dow Jones Industrial Average rose 435.98 points, or 1.4 percent, to 31,581.28, the S&P 500 gained 71.68 points, or 1.83 percent, to 3,979.87 and the Nasdaq Composite added 246.99 points, or 2.14 percent, to 11,791.90.
Nifty futures were trading 98.5 points, or 0.56% higher at 17,729 on the Singapore Exchange, signaling that Dalal Street was headed for a positive start