Sensex, Nifty LIVE Highlights on September 22: Domestic market benchmarks Sensex and Nifty continued the bearish momentum for the fourth straight session on Tuesday and closed lower , amid negative global equity trend. Overseas, equities were trading lower today as fears about the potential worsening of the coronavirus pandemic, as well as uncertainty on US fiscal stimulus spooked traders. Sensex ended 300 points lower at 37,734 and Nifty fell 96 points to 11,153. Yesterday, Sensex ended 811 points lower at 38,034 and Nifty fell 282 points lower at 11,222.
Here's a look at the updates of the market action on BSE and NSE today
3. 55 PM: closing session
Sensex ended 300 points lower at 37,734 and Nifty fell 96 points to 11,153. Yesterday, Sensex ended 811 points lower at 38,034 and Nifty fell 282 points lower at 11,222.
3. 46 PM: Market outlook
Quoting on market today, Vinod Nair, Head of Research at Geojit Financial Services said,"Indian indices witnessed another day of volatility, with indices losing ground in the latter half of the trading day, as the broader markets also underperformed. Global cues were also mixed with Asian markets in the red, while European markets have opened in the green. Doubts about the timing of a global economic recovery emerged, following talks of further restrictions to contain a resurgence in virus infections around the world, especially in Europe. This uncertainty hit the Indian markets also, which have been driven by liquidity and the expectation that the economy and earnings would be back on track soon. Markets seem to be consolidating and taking stock of the situation. Investors are advised to stay cautious."
3. 39 PM: Deepak Nitrite share climbs 5%
Shares of Deepak Nitrite gained over 5% on Tuesday after Vanguard Group Inc picked shares in the company worth Rs 101 crore through an open market transaction.
On Monday (21 September), Vanguard Group Inc A/C Vanguard Emerging Markets Stock Index Fund bought over 12 lakh scrips of Deepak Nitrite at an average price of Rs 839.18 apiece, data available on the NSE showed.
3. 24 PM: Market outlook
As per Geojit Financial, "While a collapse is less expected, initial pull back to 11370-11410 is likely to attract liquidation pressure with 11170 in perspective. It would however require more confirmation before playing the 10800-10500 view. Until then, the 11170-11000 region is favoured to diffuse the bearish momentum."
3. 14 PM: Global markets
Asian markets are mostly trading down as HSBC and SC shares continued to witness selling pressure and weak sentiment in US.
U.S. markets closed lower as markets across the globe slipped on concerns over a second wave of coronavirus and its economic impact. Industrial, Healthcare and financials slipped. European markets closed lower as allegations involving HSBC and SC in dubious dealings and concerns over second wave of coronavirus in Euro.
3. 08 PM: Oil prices fall today
Oil price fell on Monday as rising coronavirus cases ignited worries about global demand and a possible restart of Libyan oil production caused fear of oversupply.
2. 50 PM: Oil outlook
In the week ahead, oil traders are worried as a tropical depression in the western part of the Gulf of Mexico could become a hurricane in the next few days, potentially threatening more US oil facilities.
2. 39 PM: Realty sector update
Speaking on outlook for real estate sector, Raman Singla, Director- Branding and construction, GBP Group said, "The real estate sector post the pandemic has started witnessing unique demands from buyers, this is majorly due to its significant impact on lifestyle. One such emergence is of integrated townships in which demand for plots is rising, with a mix of residential towers and plotted developments. Plots are being preferred due to the exclusivity, flexibility and privacy it provides the inmates. It is a good deal of investment in present times with low home loan interests rate and payment offers provided by developers. "
2. 22 PM: Nifty technical outlook
On Nifty's near term trend, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said,"Thus, a continuation of the downmove could lead to further sell-off, so we continue with our cautious approach and advise traders to stay light and avoid overnight positions. As far as levels are concerned, 11185 and 11110 are the intraday supports; followed by the short term support at the 89 DEMA which is around 10940. On the flipside, 11335 and 11450 are now the immediate resistances."
2. 17 PM: Market outlook
Commenting on markets today, Yash Gupta, Equity Research Associate, Angel Broking Indian Indices Nifty and Sensex, down by 62 points (0.55%) and 176 points (0.46%) respectively. Indian broader market seems to be under pressure after a positive opening trade. Today S&P BSE Information Technology (up 0.94%), S&P BSE Telecom (up 0.56%) are the only sector trading in green while S&P BSE REALTY (down 2.33%), S&P BSE OIL & GAS (down 2.29%). We expect momentum in the defensive sector like IT to continue and small caps & mid caps to remain under pressure. Global Market update - DOW Jones down by 509 points (down 1.84%) and NASDAQ down by 14 points (down 0.13%).
1. 50 PM : Gold outlook
Religare Broking in its note said," Gold prices rose last week as the dollar slipped, while lacklustre US employment data and vows by major central banks to roll out further stimulus if required to revive their coronavirus-hit economies also bolstered the metal's appeal. Last week, international gold was up by 0.47% and MCX gold was up by 0.77%."
1. 43 PM: Market update
Markets traded with bearish momentum for the fourth straight day on Tuesday, amid negative global equity trend. Overseas, equities were trading mixed today as fears about the potential worsening of the coronavirus pandemic, as well as uncertainty on further U.S. fiscal stimulus spooked traders. Sensex traded 287 points lower at 37,729 and Nifty fell 80 points to 11,170. Yesterday, Sensex ended 811 points lower at 38,034 and Nifty fell 282 points lower at 11,222.
Here's a look at the updates of the market a
1. 37 PM: Rupee skids 13 paise to 73.51 per dollar amid weak equities, fund outflows
Indian rupee depreciated 13 paise to 73.51 against the US dollar on Tuesday tracking muted domestic equities and fund outflows
The domestic unit opened on a weak note at 73.50 at the interbank forex market, then fell further to 73.51, registering a fall of 13 paise over its last close.
The rupee strengthened by 7 paise to settle at 73.38 against the US dollar on Monday.
1. 23 PM:Route Mobile stock rises 7%
Share price of Route Mobile rose nearly 7% today after US-based Goldman Sachs bought an additional 24.09 lakh equity shares or 4.23 percent stake in the firm via open market transactions. Route Mobile stock gained up to 6.74% to Rs 695 against previous close of Rs 651.10 on BSE. The share opened marginally higher at Rs 656 today. It hit an intra day low of Rs 635.95.
1. 12 PM: Market outlook
"Most of the Asian currencies have started marginally weak this Monday and could weigh on sentiments. Markets could also track weakness in the equities. Most Asian equities have started on a negative note on global risk aversion," Reliance Securities said in a research note.
12. 58 PM: CAMS IPO subscribed 82% on day 1
Share sale of Computer Age Management Services (CAMS) was subscribed 82.5 percent on the first day of the issue on September 21. CAMS IPO received bids for 1.05 crore equity shares against offer size of over 1.28 crore equity shares (excluding anchor book), data available on exchanges showed. The portion set aside for retail investors was subscribed 1.4 times and the non-institutional investors segment received 29.88 percent bids of the allotted size.
12. 31 PM: Market outlook
NSE-NIFTY violated its 20-day EMA amidst weakness across the globe and slipped to 9-day closing low. Due to such a sharp decline and bearish formation on the index, its key technical indicators has given sell signals. This could drag the index towards 11,111 and 10,775 levels, which coincides with its crucial support point and its 200-day SMA, respectively. On the higher side, the index will initially face hurdle at 11,618 level and then at 11,794 mark.
As for the day, support is placed at around 11,115 and then at 11,009 levels, while resistance is observed at 11,432 and then at 11,642 levels.
12. 12 PM: Gold price today
Gold price gave up early gains and traded flat on Tuesday, as the resurgence of coronavirus cases in Europe and uncertainty on more fiscal stimulus to support the economy in the US crippled market sentiment.
Gold rose in early trade today after the dollar index fell 0.14 per cent to 93.52 against a basket of six currencies. Although investors took a cautious stance on the bullion later and focused on speeches by Federal Reserve policymakers on the US central bank's approach to inflation and stimulus measures.
11. 49 AM: Angel Broking IPO
Angel Broking will launch its initial public offer (IPO ) of equity shares today. Bids for the issue can be made in a price band of Rs 305 to Rs 306 per equity share. The IPO will close on September 24. The shares have face value of Rs 10 each.
The brokerage plans to raise Rs 600 crore through the share sale. The IPO consists of a fresh issue of Rs 300 crore and offer for sale of Rs 300 crore by promoters and investors.
11. 32 AM: Market outlook
"Markets started the week on feeble note and lost nearly 2.5 per cent, following weak global peers. The first half was lackluster. However, significant selling pressure was witnessed in the latter half. "We feel rising COVID-19 cases combined with correction in the US markets spooked investors," Ajit Mishra, VP - Research, Religare Broking Ltd said.
11. 26 AM :Coronavirus toll
Investors were spooked amid a resurgence in COVID-19 infections across the world and European cities announcing new restrictions to curb the pandemic from spreading. Worldwide, there were 314 lakh confirmed cases and 9.69 lakh deaths from COVID-19 outbreak. Meanwhile, India's death toll from COVID-19 infections rose to 0.88 lakh and total coronavirus cases stood at 55.62 lakh as of Tuesday.
11. 19 AM: Market update
Global markets tumbled down after Wall Street declined for the third week, and most of the European indices slipped more than 2.00%. Domestic indices too fell for the fourth straight day, amid fears about the potential worsening of the coronavirus pandemic. The 30-share BSE benchmark Sensex was trading 290.04 points lower at 37,744.10 and broader NSE Nifty slipped 95.10 points to 11,155.45.
11. 01 AM: Dollar index
US dollar gave up some of its gains and fell today as the focus turned towards Central bank Chairman's testimony. US FOMC Chair will testify today before House of Representatives. Commodity traders said investors awaited developments on the US fiscal stimulus by the Federal Reserve policymakers in the US. The dollar index fell 0.14 per cent to 93.52 against a basket of six currencies.
10. 54 AM: Market outlook
"Indian benchmark indices succumbed to profit booking in the second half of the trading day. It was in sync with global cues which turned negative following surge in infections in various countries including in Europe," Geojit Financial Services Head of Research Vinod Nair said. "Additional restrictions were being considered in Europe following an increase in infections," he added.
10. 45 AM: Gold outlook
Expressing views on gold's trend , Anuj Gupta- DVP- Commodities and Currencies Research, Angel Broking said," Despite falling retail sales, slowdown in consumer spending and a weak labor market in US, the Federal Reserve expressed hopes of a paced recovery in the coming months which weighed on the safe haven, Gold. While the US Federal Reserve vowed to keep the interest rates low, no signs of further stimulus infusion to support the economy shackled by the pandemic further limited the gains for Gold.
10. 30 AM: Stocks to watch today on September 22
Angel Broking, HDFC Bank, Ramco Cements, HSIL, Eros International among others are the top stocks to watch out for in Tuesday's trading session
10. 22 AM: Investors lose Rs 4.23 lakh crore in massive selloff
A massive selloff in the equity market eroded Rs 4,23,139.78 crore from investors' wealth in a single trading session on Monday. Markets witnessed significant selling pressure in the second half of trade and the 30-share BSE benchmark index ended 811.68 points or 2.09 per cent lower at 38,034.14.
10. 11 AM: Market outlook at opening bell
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said," The breaking of 11300-11350 yesterday has resulted in this sharp fall between yesterday and today. The volumes are high and impulsive. We could crack all the way down to 10950-11000 levels. The upside resistance is at 11500-11550. Until then the markets look weak."
10.05 AM: Oil prices
Crude oil prices shot down on possible return of Libyan output and expectation of weak fuel demand recovery due to rising pandemic cases. However, a potential supply disruption in US Gulf of Mexico due to nearing tropical storm supported the sentiments. Both WTI and Brent slipped more than 2.00 percent.
9. 56 AM: Market update
Resurgence of corona virus cases in Europe and uncertainty over US fiscal stimulus crippled the market sentiments. Global equities tumbled down, where most of the European indices slipped more than 2.00 percent.
9. 40 AM: Commodity markets-gold
Precious metals slipped lower on firm dollar and on cautious stance ahead of US Federal Reserve official's speech later this week. In the international platform, gold spot shed more than half a percent. Silver spot slipped as well by more than 1.00 percent. MCX precious metals have also moved in tandem with global markets.
9. 36 AM: Market turns red
After a 2% fall yesterday, domestic indices Sensex and Nifty continued with bearish momentum for the third straight day on Tuesday, amid negative global equity trend. Overseas, equities were trading mixed today as fears about the potential worsening of the coronavirus pandemic, as well as uncertainty on further U.S. fiscal stimulus spooked traders. Sensex traded 287 points lower at 37,729 and Nifty fell 80 points to 11,170.
9. 20 AM: Global markets
Overseas, Asian stocks are trading lower on Tuesday, as Hong Kong-listed shares of HSBC and Standard Chartered continued to see declines following a Monday drop. Markets in Japan are closed on Tuesday for a holiday.
In the US, stocks fell on Monday as fears about the potential worsening of the coronavirus pandemic, as well as uncertainty on further U.S. fiscal stimulus, rattled traders.
Concerns over another wave of coronavirus cases came as the U.K. reportedly considers another national lockdown to stop an increase in infections.
9.11 AM: Opening session
After a 2% fall yesterday, domestic indices Sensex and Nifty opened on a bullish note on Tuesday, amid positive global equities. SGX Nifty was rising 90 points higher, indicating positive trend in domestic grounds today.
9. 00 AM: FII action
Foreign portfolio investors (FPIs) sold shares worth Rs 539.81 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 517.95 crore in the Indian equity market on 21 September, provisional data showed.
8. 50 AM: Nifty outlook
Ruchit Jain (Senior Analyst - Technical and Derivatives, Angel Broking said," On the daily chart, we can observe a formation of a Head and Shoulders pattern and Nifty has closed right at the neckline of the pattern. Thus, a continuation of the down move could lead to further sell-off and hence, we continue with our recent advise for traders to stay light on positions and avoid overnight positions
8. 40 AM: Rupee closing
On the sectoral front, all the indices closed majorly in red territory. While metal and realty index closed 5.5% lower each, 4% drop was seen in media, pharma, PSU Banks and auto scrips.
8. 30 AM: Closing on Monday
Extending fall for the third straight session, Sensex ended 811 points lower at 38,034 and Nifty fell 282 points lower at 11,222. Triggered by a massive global sell-off, Sensex and Nifty closed over 2% each, amid heavy selling in index heavyweights.
Global equity markets fell sharply, as worries about a resurgence in coronavirus cases across the globe spooked investors, especially after many European cities started lockdown restrictions.