Share Market LIVE: Sensex drops 150 points\, Nifty at 10\,766; Adani Ports\, Tech Mahindra\, JSW Steel top losers

Share Market LIVE: Sensex drops 150 points, Nifty at 10,766; Adani Ports, Tech Mahindra, JSW Steel top losers

Stock Market LIVE Updates on July 10: Asian counterparts, bounced back from green and were trading back in negative territory, tracking losses from Wall Street

Here's a look at the updates of the market action on BSE and NSE today

Sensex, Nifty Updates: Benchmark Sensex and Nifty opened on a negative note on Friday, backed by weak global cues. Sensex fell 143 points lower to 36, 648 and Nifty fell 27 points to 10,278. SGX Nifty traded 57 points lower at 10,778 level, indicating a bearish start in domestic grounds today. Globally indices turned red as investors turned cautious oncerns over the rising number of COVID-19 cases across the world and its impact on economic recovery. Yesterday, Sensex ended 408 points higher at 36,737 and Nifty gained 107 points to 10,813.

Here's a look at the updates of the market action on BSE and NSE today

9. 39 AM: Global cues today

Asian shares and U.S. stock futures fell on Friday after the United States reported 60,500 new COVID-19 infections on Thursday, the largest single-day tally of cases by any country. Investors remained cautious over heightened concerns that renewed lockdowns could hurt the economic recovery.

Asian equities, US Futures decline on Covid-19 virus fears

9. 27 AM: Nifty near term outlook

 Reliance Smart Money in its daily note said," NSE-NIFTY resumed its  trend and regained 10,800 mark. Yesterday, buying across the board supported the up-move. Due to turnaround in the index, its major technical indicators remained above their averages. This could lead the index towards 11,100 level, provide it manages to surpass the long-term moving average 200-day SMA (10,885 mark), convincingly. On the lower side, the index will initially find support at around 10,600 mark and then at around 10,440 level. As for the day, support is placed at around 10,690 and then at 10,630 levels, while resistance is observed at 10,890 and then at 11,035 levels."

9. 14 AM: Opening bell

Benchmark Sensex and Nifty opened on a negative note on Friday, backed by weak global cues. Sensex fell 143 points lower to 36, 648 and Nifty fell 27 points to 10,278.

9. 05 AM: Stocks to watch today on July 10

TCS, RIL, PNB, Tata Motors, Dr Reddy among others are the top stocks to watch out for in Friday's trading session

Stocks in news: TCS, RIL, PNB, Tata Motors, Dr Reddy

8.40 AM: Nifty outlook

As for Nifty technical outlook, the index managed to close above a known resistance of 10,800 level. Ruchit Jain, Senior Analyst - Technical and Derivatives, Angel Broking said," For the near term, support for Nifty is placed around 10670 whereas resistances are seen around 10900 and 11000. A move beyond the above mentioned boundaries would then lead to the next leg of trended move and till then, traders are advised to continue to trade with a stock specific approach."

8. 30 AM: Rupee Closing

On the currency front, the Indian rupee closed stronger at 74.99 per dollar as against the earlier closing of 75.01 per dollar.

8. 20 AM:Last Closing

Sensex and Nifty closed on a bullish note on Thursday, tracking gains in financial stocks amid positive cues from global markets. Traders said domestic markets followed optimistic sentiments from global equities, shrugging off concerns over rising number of COVID-19 cases and its impact on economic recovery. Sensex ended 408 points higher at 36,737 and Nifty gained 107 points to 10,813.

Sensex ends 408 points higher, Nifty at 10,813; metal, financial stocks outperform