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Share Market News Today Highlights: Sensex, Nifty extend fall for 7th session; Asian Paints, Hero MotoCorp, TechM among top drags

Prashun Talukdar Sep 29, 2022, Updated Sep 29, 2022, 5:04 PM IST

Stock Market News Today Highlights: Sensex and Nifty settled lower amid volatile trade, extending their fall for the seventh straight day. The domestic indices started higher, mirroring Asian peers, but gave up all of their gains in line with the weaker trend in the broader markets.

Share Market News Today Updates, 29 September 2022: Sensex and Nifty extended their fall for the seventh straight session. Share Market News Today Updates, 29 September 2022: Sensex and Nifty extended their fall for the seventh straight session.

Indian equity benchmarks on Thursday settled lower amid volatile trade, extending their fall for the seventh straight day. The domestic indices started higher, mirroring Asian peers, but gave up all of their gains in line with the weaker trend in the broader markets. Investors also awaited the RBI's policy outcome -- due on September 30. Further, the expiry of September series futures and options (F&)) contracts put the indices under pressure.

 

Except for Japan's Nikkei index, which climbed 0.95 per cent today as Britain's central bank launched an emergency bond-buying programme, most other Asian shares traded lower or on a flat note. South Korea's KOSPI edged 0.07 per cent up, the Shanghai Composite index slipped 0.13 per cent higher and Hong Kong's Hang Seng Index fell 0.49 per cent.

 

US stocks set to trade lower as S&P Futures cracked 0.97 per cent, Nasdaq futures tanked 1.28 per cent and Dow Futures fell 0.73 per cent, reversing the overnight gains on Wall Street.

 

Back home, the benchmark BSE Sensex fell 188 points or 0.33 per cent to close at 56,410, while the broader NSE Nifty moved 41 points or 0.24 per cent lower to settle at 16,818.

 

Here are the share market highlights:

5:04 PM (2 months ago)

Reliance Ind vs OMC stocks: Here's what brokerages say

Posted by :- prashun talukdar

Crude oil prices have soften a bit, with the benchmark Brent falling to around $88 per barrel level, down 26 per cent down from recent heights of about $120 per barrel. Here's how three oil marketing companies namely IOC, BPCL and HPCL and refiner Reliance Industries performed and what probably lies ahead of them. (Read more)

5:02 PM (2 months ago)

Auto stocks that analysts like ahead of September sales data

Posted by :- prashun talukdar

Auto makers are all set to report healthy set of volumes data for September, partly due to early start to the festive season. Customer footfalls at showrooms have jumped, said a few analysts, who sees stock such as Mahindra & Mahindra (M&M), Hero MotoCorp and Maruti Suzuki, among others, doing well going ahead. (Read more)

4:59 PM (2 months ago)

Reliance Retail launches premium fashion, lifestyle store Azorte

Posted by :- prashun talukdar

Reliance Retail today launched a premium fashion and lifestyle store brand, Azorte for premium Indian fashion merchandise. The company said the new store format includes several tech-enabled interventions such as smart trial rooms, fashion discovery stations, endless aisles and self-checkout kiosks.

4:36 PM (2 months ago)

RBI Pre-MPC Policy View

Posted by :- prashun talukdar

Given the fact that central banks around the world have raised their benchmark rates, RBI is likely to front load its policy actions with interest rate hikes to contain inflation without hurting medium-term growth prospects, said Virat Diwanji, Group President and Head – Consumer Bank, Kotak Mahindra Bank. "There is no doubt on whether the benchmark repo rate would raise or not, the debate is how much- 35 to 50 basis points hike in the upcoming policy and what would be the peak level at the end of the fiscal before we see some flattening and/or tapering of interest rates," he added.

4:33 PM (2 months ago)

Expert View: Bank Nifty

Posted by :- prashun talukdar

The Bank Nifty index immediate resistance on the upside is placed at 36,400 and a breach of this will witness some short covering move on the upside towards 39,000 levels, Kunal Shah, Senior Technical Analyst at LKP Securities. "The lower-end support is placed at 37,500 and if breached will aggravate the sell-off towards 37,000-36,000 levels," he added.

4:30 PM (2 months ago)

Expert View

Posted by :- prashun talukdar

Nifty failed to capitalize on the early gain as it faced tough resistance at the 17,000 levels leading to closing around 16,800, said Rupak De, Senior Technical Analyst at LKP Securities. "Going ahead, 16,800 is likely to act as crucial support and any drift below 16,800 on a sustained basis may attract selling pressure in the market. On the lower end, support is visible at 16,640. On the higher end, 17,050 is likely to remain a strong resistance," he added.

4:03 PM (2 months ago)

Technical View

Posted by :- prashun talukdar

The domestic indices were extremely volatile on the F&O expiry day, and traders preferred to cut their position in some of the rate-sensitives ahead of the credit policy announcement, said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd. "In the intraday time frame, the index has formed a double top formation and conversely it is consistently taking support at 16,800. As long as the index trades above 16,800, the chances of a quick pullback rally is bright. Above the same, the index could retest 16,950-17,000 levels. However, below 16,800, the index could slip till 16,700-16,650," he added.

4:00 PM (2 months ago)

Expert View

Posted by :- prashun talukdar

The initial upticks of the domestic market were short-lived due to its weak global peers and declining rupee, said Vinod Nair, Head of Research at Geojit Financial Services. Investors eagerly await the central bank's intervention to aid bank liquidity, curb currency depreciation, and provide updates on its monetary stance and GDP outlook, he added.

3:51 PM (2 months ago)

Share market breadth

Posted by :- prashun talukdar

The overall market breadth stood strong as 1,888 shares advanced while 1,539 declined on BSE. The market capitalization (m-cap) of BSE listed companies stood at Rs 268.27 lakh crore.

3:50 PM (2 months ago)

Sectoral indices

Posted by :- prashun talukdar

Eight out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Sub-indexes Nifty IT and Nifty Financial Services underperformed the NSE platform by falling as much as 0.92 per cent and 0.51 per cent, respectively. However, Nifty Pharma and Nifty FMCG climbed as much as 1.33 per cent and 0.89 per cent.

3:45 PM (2 months ago)

Mid & small-cap fall

Posted by :- prashun talukdar

Mid- and small-cap shares finished on a lower note as Nifty Midcap 100 slipped 0.40 per cent and small-cap fell 0.63 per cent.

3:44 PM (2 months ago)

Top gainers & losers on NSE

Posted by :- prashun talukdar

On the stock-specific front, Asian Paints was the top Nifty loser as the stock cracked 4.72 per cent to close at Rs 3,402. Hero MotoCorp, Tech Mahindra, Bajaj Auto and Titan were also among the laggards. In contrast, Shree Cement, ONGC, Hindalco, ITC and Apollo Hospitals were among the top gainers.

3:35 PM (2 months ago)

Share market closing: Sensex, Nifty extend fall for 7th day

Posted by :- prashun talukdar

Sensex slips 188 points or 0.33 per cent to close at 56,410, Nifty moves 41 points or 0.24 per cent lower to settle at 16,818

3:31 PM (2 months ago)

Centre to raise Rs 33,000 crore via sale of bonds on September 30

Posted by :- prashun talukdar

The government said it would be raising Rs 33,000 crore through the sale of bonds (Government Securities) on Friday. Four government securities (G-Secs) with rates from 6.69 per cent to 7.40 per cent would be auctioned through multiple price-based methods on Reserve Bank of India's (RBI's) Core Banking Solution (E-Kuber) system. (Read more)

3:08 PM (2 months ago)

Share market update: Sensex falls over 200 points in volatile trade, Nifty tests 16,800

Posted by :- prashun talukdar

Sensex slips 203 points or 0.36 per cent to trade at 56,396, Nifty moves 51 points or 0.30 per cent to trade at 16,808; Asian Paints, Hero MotoCorp, Bajaj Auto among top drags

2:59 PM (2 months ago)

Share market update: Sensex, Nifty trim losses, turn flat in late deals; FMCG, metal stocks shine

Posted by :- prashun talukdar

Sensex falls 30 points or 0.05 per cent to trade at 56,569, Nifty moves 2 points 0.01 per cent lower to trade at 16,856

2:38 PM (2 months ago)

Polyplex Corporation shares down over 3.5%

Posted by :- prashun talukdar

Shares of Polyplex Corporation Ltd fell 3.51 per cent to trade at Rs 1,980.

1:28 PM (2 months ago)

Share market update: Sensex falls over 250 points, Nifty breaks below 16,800

Posted by :- prashun talukdar

Sensex falls 260 points or 0.46 per cent to trade at 56,338, Nifty moves 64 points or 0.38 per cent to trade at 16,795; Asian Paints, Tech Mahindra, Titan among top drags

1:26 PM (2 months ago)

Global heavyweight CLSA believes Nifty could slump 30%

Posted by :- prashun talukdar

At a time when Indian equity benchmarks have been losing heavy ground amidst a weakness in rupee and selling pressure from foreign investors, global financial major CLSA has said that data points from the bond and equity market hint that the Nifty could fall by as much as 30 per cent. (Read more)

1:10 PM (2 months ago)

Top gainers and losers on NSE

Posted by :- prashun talukdar

Asian Paints, Titan, L&T, Tech Mahindra and Kotak Mahindra Bank were among the top laggards on the NSE platform with their shares down as much as 4.10 per cent. In contrast, Apollo Hospitals, ONGC, Dr Reddy's, ITC and Sun Pharma were among the top gainers.