Share Market LIVE: Sensex gains 250 points\, Nifty at 10\,670; Infosys\, Wipro\, TCS top gainers

Share Market LIVE: Sensex gains 250 points, Nifty at 10,670; Infosys, Wipro, TCS top gainers

Stock Market LIVE Updates on July 16: Balkrishna Industries, Britannia Industries, Granules India and ICICI General Insurance are among the top companies that will be reporting their April-June quarterly earnings

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

Sensex, Nifty Updates: Barring weakness from Asian equities, market indices gained majorly by the opening session on Thursday. Sensex was trading 247 points higher at 36,299 and Nifty gained 52 points higher to 10,670. Markets in Asian grounds traded mostly in red today as investors turned cautious given rising coronavirus cases and percolating tensions between the US and China. Yesterday, Sensex ended 18 points higher at 36,051 and Nifty closed 10 points higher at 10,618. Companies set to announce their earnings are  Balkrishna Industries, Britannia Industries, Granules India and ICICI General Insurance

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

10.05 AM: Nifty outlook

Reliance Smart Money in its daily report said, "NSE-NIFTY tested its extended upper band of the rising wedge (then placed around 10,800 mark) and reversed down quite sharply. Though the index ended in profit, but it has formed a bearish continuation pattern on the daily chart. As mentioned earlier, our negative view will remain intact on the index as its major technical indicators remained in the sell mode. This could drag the index towards 10,440 and 10,350 levels. On the higher side, the index will continue to face hurdle around its long-term moving average 200-day SMA (placed at 10,877 mark).

As for the day, support is placed at around 10,560 and then at 10,480 levels, while resistance is observed at 10,800 and then at 10,890 levels."

9. 56 AM: Market gains further

Barring weakness from Asian equities, market indices gained majorly by the opening session on Thursday. Sensex was trading 247 points higher at 36,299 and Nifty gained 52 points higher to 10,670.

9.45 AM: Stocks to watch today on July 16

SBI Cards, Infosys, Yes Bank, L&T Infotech, SBI, GAIL among others are the top stocks to watch out for in Thursday's trading session.

Stocks in news: SBI Cards, Infosys, Yes Bank, L&T Infotech, SBI, GAIL and more

9. 30 AM: Opening session

Sensex and Nifty erased early gains and traded muted  on Thursday, amid mixed Asian equities. Sensex was trading 85 points higher at 36,124 and Nifty was falling 10 points lower to 10,607

9. 13 AM: Pre open session today

Barring weakness from Asian equities, market indices gained majorly by the opening session on Thursday.

9.00 AM: Market outlook

"We're seeing a tussle between the bulls and bears for the last couple of sessions and we feel it would be healthy if the market witnesses some correction after the recent surge. However, the resilience of global markets would help the index to limit the downside. Amid all, stocks may continue to witness volatile swings on both sides thus traders have no option but to position themselves accordingly," said Ajit Mishra, VP - Research, Religare Broking.

8. 45 AM: Earnings today

Companies set to announce their earnings are  Balkrishna Industries, Britannia Industries, Granules India and ICICI General Insurance

8. 40 AM: Asian markets in red

Markets in Asian grounds traded mostly in red today as investors turned cautious given rising coronavirus cases and percolating tensions between the US and China.

8. 30 AM: Closing session

After rallying 777 points amid positive sentiments across global markets on hopes of a coronavirus vaccine, Sensex surrendered gains in the last hour of trade. Yesterday, Sensex ended 18 points higher at 36,051 and Nifty closed 10 points higher at 10,618.