Sensex, Nifty LIVE Updates on July 28: Sensex and Nifty opened on a bullish note on Tuesday, bucking yesterday's losses amid positive global equities. Sensex was trading 112 points higher at 38,047 and Nifty was rising 27 points higher at 11,169. Yesterday, Sensex closed 194 points lower at 37,934 and Nifty fell 62 points to 11,131. Traders said markets will continue taking cues from the worldwide trend.
Here's a look at the updates of the market action on BSE and NSE today
9. 44 AM: Market rises further
Benchmark indices gained further momentum by the first hour of trade. Sensex was up 232 points at 38,162 and Nifty gained 72 points to 11,211.
9. 36 PM: Nifty outlook
Reliance Smart Money in its daily report said," NSE-NIFTY begun week on a dull note as the index remained sideways in absence of positive triggers in the market. Yesterday, rate sensitive sectors kept index in pressure, however due to strength in the IT sector restricted the loss. As mentioned earlier, we continue to believe the index will either remain sideways or it will face minor decline before resumes its northward journey. On the higher side, the index will face hurdles around 11,270 and 11,400 levels, where prior positive gaps are placed. However, in case of decline, the index will initially find support at around 10,860 mark and then at around 10,560 level.
As for the day, support is placed at around 11,071 and then at 11,011 levels, while resistance is observed at 11,209 and then at 11,285 levels."
9. 28 PM: Market outlook
"Hopes for more stimulus measures in major economies and data showing that China's industrial profits rose in June for a second straight month helped offset worries about rising US-China tensions and the surge in coronavirus cases worldwide. European markets declined marginally on Monday morning as investors continue to watch rising diplomatic tensions between the US and China, while travel stocks tumbled after the UK imposed quarantine measures on people returning from Spain," said Deepak Jasani, Head Retail Research, HDFC Securities.
9. 12 AM: Gold hits new high
Gold futures on Multi Commodity Exchange were trading Rs 299 points higher at Rs 52,400 per 10 gm for the first time ever against the previous close of Rs 52,101 per 10 gm. Earlier today, Gold August Futures today touched an intraday as well as an all-time high of Rs 52,420 and a low of Rs 52,071 today, after opening at Rs 52,186 per 10 gm.
9.07 AM: Pre open session
Sensex and Nifty opened on a bullish note on Tuesday, bucking yesterday's losses amid positive global equities. Sensex was trading 112 points higher at 38,047 and Nifty was rising 27 points higher at 11,169.
8. 54 AM: Market outlook
Ajit Mishra, VP - Research, Religare Broking said,"RBI's recent statements over a possible rise in NPAs in FY21 spooked investor sentiments. However, strength in IT and Oil & Gas names managed to restrict the losses for Nifty as it ended lower by 0.6% to close at 11,132 levels. Meanwhile, earnings announcements from select Nifty majors and upcoming derivatives expiry of July month contracts will keep the participants busy. Globally, the US Fed meeting scheduled this week and key economic data announcements will also be on their radar.
8. 45 AM: Earnings today
UltraTech Cement, Nestle India, IDBI Bank, IDFC First Bank, RBL Bank, Hexaware Technologies, NIIT Technologies, Quess Corp, Castrol India, Greenlam Industries, Max Ventures, Sunteck Realty, Tata Coffee, Welspun Corp, among others will report Q1 earnings today.
8. 35 AM: Nifty outlook
In terms of technical indicators, 11,050 and 11,035 has now become key supports, while 11,275-390 is the level of resistance in upside momentum. A move about this will give breakout in an upward direction to extend the move towards 11,350-11,400."
8. 30 AM: Closing on Monday
Sensex and Nifty started the week on a bearish note closing lower on Monday as RBI predicted a rise in bad loans by 15% of total loans by March 21. Sensex closed 194 points lower at 37,934 and Nifty fell 62 points to 11,131.
Sensex falls 194 points, Nifty at 11,131; banks crash on RBI's bad loans forecast