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Share Market update: Sensex, Nifty close flat; Bajaj Finance, NTPC top losers

Share Market update: Sensex, Nifty close flat; Bajaj Finance, NTPC top losers

Sensex slips 35 points to 58,817 and Nifty gains 9 points to 17,534 today. The market ended higher for the second consecutive session on Monday led by gains in capital goods, auto and banking stocks.

 Share Market Live: Tracking Sensex, Nifty today Share Market Live: Tracking Sensex, Nifty today

The Indian market ended on a flat note today. Sensex slipped 35 points to 58,817 and Nifty gained 9 points to 17,534. The market ended higher for the second consecutive session on Monday led by gains in capital goods, auto and banking stocks. Sensex closed 465 points higher at 58,853 and Nifty gained 127 points to 17,525 amid mixed global cues.

Stocks in news: Bharti Airtel, Tech Mahindra, Tata Chemicals, Adani Ports and more

Here's a look at live market updates today.

3:36 pm: Market closes flat

Sensex slips 35 points to 58,817 and Nifty gains 9 points to 17,534. 

1:51 pm: Bharti Airtel stock rises post Q1 earnings: Time to buy, sell or hold?

Shares of Bharti Airtel were trading higher today after the telco reported a 466 per cent surge year-on-year (YoY) rise in consolidated net profit at the end of quarter ended June 2022. Bharti Airtel stock was trading over 1 per cent higher at Rs 714 against the previous close of Rs 704.35 on BSE.

The stock opened with a gain of 2.08 per cent at Rs 719 today. Market cap of the firm rose to Rs 3.95 lakh crore on BSE.

A total of 2.46 lakh shares of the telco changed hands amounting to a turnover of Rs 17.48 crore on BSE.

The telecom share has gained 14.79 per cent in one year and risen 4.45 per cent since the beginning of this year.

1:00 pm: Fat Tiger to hire 1,100 plus employees

Fat Tiger, an Indian home-grown restaurant, announced its expansion plans recently. The company in the course of the next three years will be increasing its offline presence by launching 200 offline outlets. The brand currently has 50 plus outlets in 22 cities. The company with its ongoing expansion plan aims to hire 1,100 plus individuals for various operational roles.

12:57 pm: Expert take

Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking

"On the technical front, Nifty formed a long bull candle on the daily chart breaching past the crucial resistance zone of 17,500 indicating that positive biasness to continue and more upside is awaited.

However, momentum oscillators are witnessing overbought levels, but no signs of exhaustion can be seen yet, the indicator though has flattened during the period. On the downside, the psychological level of 17,000 which further coincides with the 200 DMA would be the immediate short-term trend deciding level for the market. On the upside, one can eventually expect Nifty to head towards 17,900 levels as it is 80% retracement of entire decline off October 2021 to June low (18600-15200). Thus, any temporary breather should not be construed as negative instead buy on dips strategy should remain in focus. During the day Nifty is likely to open on a slight negative note however lower levels of 17400-17350 might provide support to the market."

12:50 pm: Sensex down 67 points to 58,785 and Nifty falls 7 points to 17,517 in the afternoon session.

12:00 pm: JSW Steel shares rise 28% from 52-week low; what should investors do?

Shares of JSW Steel have gained 28 per cent from their 52-week low amid highly volatile domestic market. The stock of the JSW Group firm, hit a 52-week low of Rs 520.10 on May 26, 2022. It is currently trading at Rs 665.10, translating into a rise of 28 per cent in less than three months.

On July 22 this year, JSW Steel's consolidated net profit plunged 85.8 per cent year-on-year for the quarter ended June 30. Profit came at Rs 838 crore on affected by adverse impact of falling global prices and levying of 15 per cent duty on steel exports.

Net profit for the quarter ended June 2021 stood at Rs 5,904 crore in the year-ago period. Sequentially, profit slumped 74.4 per cent from Rs 3,234 crore in the March 2022 quarter.

However, revenue from operations rose 31.7 per cent to Rs 38,086 crore in June 2022 quarter in comparison with Rs 28,432 crore in the last year period.

11:36 am: Nifty outlook

Anand James, Chief Market Strategist at Geojit Financial Services

"The upside attempt on Monday stalled after the 17450-570 region sucked out the momentum, yet again. An attempt to regroup and aim for 17750 could unfold, if early weaknesses are held above 17380 or if 17570 gets broken right away. Inability to do so should call for falls to at least 17220 before buying interest trickles in. Either way, with VIX upward bound in the last few days, and hovering near 20 now, volatility should dominate the rest of the week."

10:06 am: Tata Chemicals stock zooms 9% on strong Q1 earnings

Shares of Tata Chemicals zoomed 9 per cent today after the Tata Group firm announced a 86.25 per cent increase in net profit for the quarter ended June 2022. Tata Chemicals reported a consolidated net profit at Rs 637 crore during the quarter ending June 2022 against a net profit of Rs 342 crore in the corresponding quarter of the previous fiscal.

Subsequently, the stock rose 8.92 per cent to Rs 1,042.55 against the previous close of Rs 957.15 on BSE. The stock opened 4.47 per cent higher at Rs 999.95 against the previous close of Rs 957.15 on BSE. The large cap stock has gained 22.36 per cent in a year and climbed 15.49 per cent this year. Market cap of the firm rose to Rs 26,270 crore.

9:21 am: Sensex falls 109 points to 58,743 and Nifty loses 36 points to 17,488 in opening trade.

8:45 am: Expert Take

Deepak Jasani, Head of Retail Research, HDFC Securities

"Nifty broke out upwards after a sideways close for three sessions. The continued rise in indices though perplexing in the face of concerning macro developments globally has improved sentiments on equity markets. Nifty could now face resistance in the 17,595-17,651 band while 17,408 could offer support."

8:20 am: SGX Nifty

The Indian market is likely to open lower today as SGX Nifty fell 17 points to 17,523. The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.

8:15 am: Market on Monday

The Indian market ended higher for the second consecutive session on Monday led by gains in capital goods, auto and banking stocks. Sensex closed 465 points higher at 58,853 and Nifty gained 127 points to 17,525 amid mixed global cues.

Of 30 Sensex stocks, 19 ended in the green.

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