Indian equity benchmarks on Tuesday settled lower in a highly volatile trade as investors remained jittery about economic growth concerns. The domestic indices extended their fall for the fifth straight day, dragged by bank, financial and automobile shares.
However, Asian stocks rose as Japan's Nikkei index climbed 0.53 per cent, South Korea's KOSPI edged 0.13 per cent higher, Shanghai Composite index gained 1.40 per cent higher and Hong Kong's Hang Seng Index inched 0.02 per cent higher.
S&P Futures rose 0.88 per cent, Nasdaq futures climbed 1.07 per cent and Dow Futures jumped 0.66 per cent.
Back home, the benchmark BSE Sensex fell 38 points or 0.07 per cent to close at 57,107 today, while the broader NSE Nifty moved 9 points or 0.05 per cent lower to settle at 17,007.
Here are the share market highlights:
"Bank Nifty slipped below the previous session's low. The sentiment has turned negative as the index fell below the 50 EMA. The momentum indicator is in a bearish crossover. The trend looks negative, on the lower end it may fall towards 38,000, below 38,000 the index may drift down towards 37,700-37,500. On the higher end resistance is visible at 38,800-39,000," said Rupak De, Senior Technical Analyst at LKP Securities.
"The benchmark Nifty remained range bound ahead of the RBI policy meet. The index briefly slipped below 16,950 as it failed to sustain at the lower level leading to a close above 17,000. On the lower end, bulls have managed to protect the 200 DMA on a closing basis. The momentum indicator is in a bearish crossover. The trend remains weak; however, the proximity to the crucial support may induce a pullback in the market. On the higher end, resistance is visible at 17,150-17,200. Above 17,200, the Nifty may move towards 17,500. On the other hand, a decisive fall below 16,950 may trigger a panic button," said Rupak De, Senior Technical Analyst at LKP Securities.
"In search of a safer dollar and elevated bond yields, foreign investors are withdrawing from Indian equities, resulting in the decline of the domestic market. In contrast to the recent trend of sector performance, banks and autos are exhibiting negative bias, while IT and pharma are showcasing resilience. Crude price are closing down, despite expectations that OPEC+ will take more action to cut production in the coming meeting, due to weakening global economy," said Vinod Nair, Head of Research at Geojit Financial Services.
On the stock-specific front, Hero MotoCorp was the top Nifty loser as the stock cracked 2.88 per cent to close at Rs 2,643. Adani Ports, Titan, Tata Steel and SBI Life were also among the laggards. In contrast, Cipla, Tata Consumer Products, Shree Cement, PowerGrid and IndusInd Bank were among the top gainers.
Nine out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in the red. Sub-indexes Nifty Bank, Nifty Financial Services, Nifty Auto and Nifty Metal underperformed the NSE platform by falling as much as 0.67 per cent, 0.80 per cent, 0.51 per cent and 0.80 per cent, respectively. However, Nifty IT, Nifty Oil & Gas, Nifty FMCG and Nifty Pharma surged as much as 0.97 per cent, 1.13 per cent, 0.64 per cent and 0.98 per cent.
Mid- and small-cap shares finished on a higher note as Nifty Midcap 100 edged 0.16 per cent higher and small-cap rose 0.25 per cent.
Sensex falls 38 points or 0.07 per cent to close at 57,107, while Nifty moves 9 points or 0.05 per cent lower to settle at 17,007
Amid the surging US dollar, disruption in energy supply chain and signs of escalation of the conflict between Russia and Ukraine, global stock markets are currently jittery. In sync, Indian equities are also feeling the heat with BSE Sensex slipping 1.92 per cent this year (as on September 26). (Read more)
Sensex slips 36 points or 0.06 per cent to trade at 57,109, Nifty moves 14 points or 0.08 per cent lower to trade at 17,002
Dalal Street has had a rough past few days, with stocks falling on worries of global inflation levels and slower economic growth. As the markets march southwards, hear out Udayan Mukherjee’s view on current trends in the Indian stock markets. (WATCH)
Shares of Life Insurance Corporation (LIC) are trading 27 per cent lower to their initial public offer (IPO) listing price. Investors have lost nearly Rs 1.5 lakh crore wealth in LIC since May 17 (listing date). (Read more)
Amid the ongoing uncertainty in the domestic equity market, as many as 32 stocks in the BSE 500 index have plunged over 50 per cent so far from their 52-week high levels. On the other hand, the benchmark equity index BSE Sensex retreated 8 per cent till September 23, 2022 against its 52-week high level of 62,245.43, scaled on October 19, 2021. (Read more)
Sensex rises 333 points or 0.58 per cent to trade at 57,478, Nifty moves 91 points or 0.53 per cent higher to trade at 17,107; HCC zooms 18.49 per cent
The initial public offer (IPO) of consumer durable and electronics retailer Electronics Mart India will open on October 4. The firm plans to raise Rs 500 crore through the issue. The IPO will close on October 7. The shares will be allotted on October 12 and initiation of refunds will be carried out on next day. The shares are likely to be listed on October 17 on BSE and NSE. The IPO will be open for anchor investors on October 3. Anand Rathi Securities, IIFL Securities and JM Financial Consultants are the lead managers of the IPO. KFin Technologies Limited is the registrar to the IPO.
Sensex rises 219 points or 0.38 per cent to trade at 57,364, Nifty moves 40 points or 0.23 per cent higher to trade at 17,056
"It's difficult for new investors to decide which scrips to buy, hold, or sell. However, equity does generate high real returns in the long-term and should be part of every young investor’s portfolio. One way to get around the difficult decision making is buying an index fund. The typical large-cap index fund such as a Nifty50 fund or Nifty Next 50 fund would provide investors exposure to the corporate titans of India. The index fund returns would be very close to what the underlying index provides," said Adhil Shetty, CEO, BankBazaar.com.
Shares of Ambuja Cements were trading 5.43 per cent lower at Rs 484 on BSE.
Sensex falls 177 points or 0.31 per cent to trade at 56,968, Nifty moves 64 points or 0.38 per cent lower to trade at 16,952
Sensex falls 46 points or 0.08 per cent to trade at 57,099, Nifty moves 28 points or 0.16 per cent lower to trade at 16,988
10 out of the 15 sector gauges -- compiled by the National Stock Exchange -- were trading in red. Sub-indexes Nifty FMCG and Nifty Oil & Gas were outperforming the NSE platform by rising as much as 0.91 per cent and 0.72 per cent, respectively. However, Nifty Auto and Nifty Metal were trading 1.26 per cent and 1.38 per cent, each, lower.
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