Sensex, Nifty LIVE Updates on August 4: Sensex and Nifty gained further on Tuesday, amid buoyed global equities, on back of healthy US economic data. Reversing from declines for four straight sessions, S&P BSE Sensex traded 465 points higher at 37,406 and NSE Nifty gained 124 points to 11,015. Meanwhile, April-June quarterly earnings announcements by Godrej Consumer, Tata Consumer, Apollo Pipes, Geojit Financial, Eris Lifesciences, Sun Pharma Advanced Research among others will also set the tone for the stock market today. The June quarter earnings reports will provide a clear picture of the disruption caused by the coronavirus pandemic-induced lockdown.
Here's a look at the updates of the market action on BSE and NSE today
12.24 PM: Coronavirus toll
Meanwhile, the number of cases around the world linked to COVID-19 has crossed 1.82 crore.In India, the number of infections touched 18,55,745.
12. 13 PM: Gold price scales record-high; silver above Rs 65K mark
Gold price in India climbed to yet another record high of Rs 53,865 per 10 gm today after WHO warned that there might never be a "silver bullet" for COVID-19 in the form of a perfect vaccine and that the road to normality would be long.
The rapid rise in coronavirus cases globally has dampened hopes for an economic recovery. Weakness in the dollar also helped the bullion inch higher.
Gold price scales record-high; silver above Rs 65K mark
11. 56 AM: Oil prices falling as rising cases cast doubts
Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns just as major producers ramp up output. U.S. West Texas Intermediate (WTI) crude futures fell 30 cents, or 0.7% to $40.71 a barrel, while Brent crude futures fell 37 cents, or 0.8% to $43.78 a barrel.
COVID-19 fallout: Oil prices falling as rising cases cast doubts over fuel demand recovery
11. 47 AM: Nifty outlook
Reliance Smart Money said in its daily note that NSE-NIFTY begun week/month on a negative note amidst weaker global cues. The index extended loss after a breakdown from its narrow range consolidation (i.e. between 11,055 and 11,340 levels) and moved towards its 200-day SMA, which is place around 10,860 level. Due to recent breakdown its key technical indicators turned in favour of bears. This could drag the index towards its 50-day EMA, which is placed at around 10,530 level. In case of rebound, the index will face major hurdle around 11,340 level.
As for the day, support is placed at around 11,017 and then at 10,960 levels, while resistance is observed at 11,140 and then at 11,207 levels.
11. 22 AM: Global cues
Sensex and Nifty gained further on Tuesday, amid buoyed global equities, on back of healthy US economic data. Record-low interest rates and abundant government stimulus helped indices recover from recent downtrend and gain momentum. In another update, China customs data showed Chinese purchases of US products accelerated recently and that China has fulfilled 5% of Sino-US energy trade deal in first half of 2020, which helped in equities gaining buying pressure. Hopes that vaccines against the COVID-19 disease might be ready by the end of the year also helped markets.
10.53 AM: Market outlook
"Going ahead, investors would watch out for any development over the US stimulus announcement and RBI credit policy for a possibility of another rate cut - which could provide some cheer to the markets," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. Yesterday, said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
10. 43 AM: Google owner Alphabet issues record $10 billion bond at lowest-ever price
Alphabet Inc borrowed $10 billion in the investment-grade corporate debt market on Monday, the Google parent's largest ever bond issue, which it secured at its lowest-ever cost of financing. Of the $10 billion on offer, the $1 billion five-year tranche was issued at a coupon of 0.45%, the lowest coupon seen at that maturity since Apple Inc issued a $1.5 billion five-year note at 0.45% in 2013.
Google owner Alphabet issues record $10 billion bond at lowest-ever price
10. 34 AM: FII inflows
As per the exchange data available on BSE, foreign institutional investors purchased equities worth Rs 7,818.49 crore on a net basis on Monday.
10. 19 AM: Market rises further
Sensex and Nifty gained further on Tuesday, amid buoyed global equities. Reversing from declines for four straight sessions, S&P BSE Sensex traded 465 points higher at 37,406 and NSE Nifty gained 124 points to 11,015.
9. 56 AM: Market cues
Globally, bourses in Shanghai, Tokyo, Seoul traded on a positive note, while Hong Kong traded in the red. Stock exchanges in Europe also closed on a positive note in early deals. Globally, traders will also keep a track on macroeconomic data by the US.
9. 43 AM: Top gainers and losers
ONGC, followed by ITC, Asian Paints, Reliance Industries, Maruti, Bajaj Auto and NTPC were among the top gainers. On the other hand, IndusInd Bank, HCL Tech, Tech Mahindra, PowerGrid and Bajaj Finance were among the laggards.
9. 32 AM: Market cues
Asian bourses were trading with gains, following stock exchanges on Wall Street that ended on a positive note in overnight session.
9. 18 AM: Opening session
Sensex and Nifty opened on a bullish note on Tuesday, amid buoyed mixed global equities. Reversing from declines for four straight sessions, S&P BSE Sensex traded 235 points higher at 37,174 and NSE Nifty 50 gained 69 points to 10,967.
9. 00 AM: Stocks in news
Yes Bank, Jubilant Life, Exide, Bank of India, Dhanlaxmi Bank among others are the top stocks to watch out for in Tuesday's trading session.
Stocks in news: Yes Bank, Jubilant Life, Exide, Bank of India, Dhanlaxmi Bank
8. 50 AM: Technical indicators
As per technical indicators, psychological support point-11,000 mark has been broken with Nifty closing below the same. In case of breakdown, the index will find next support around its 200-day SMA, which is now placed at around 10,860 level, said Reliance Smart Money today. For the week ahead, investors will keep an eye on RBI policy, macro data, US-China tensions and coronavirus cases which will set trends for the benchmark indices.
8. 40 AM: Earnings todayGodrej Consumer Products, Gujarat Gas, Tata Consumer Products, Sun Pharma Advanced Research Company, Century Enka, Apollo Pipes, Dixon Technologies, Astral Poly Technik, Eris Lifesciences, Geojit Financial Services, Hikal, Jindal Saw, Taj GVK, among others will report Q1 FY21 earnings today.
8. 30 AM: Closing session on Monday
Domestic equity benchmarks - Sensex and Nifty - slipped into bearish territory on Monday and ended over 1.6% lower each, tracking weak Asian peers and selling in index heavyweights. Extending decline for the fourth straight session, S&P BSE Sensex ended 667 points lower at 36,939 and NSE Nifty 50 fell 173 points to 10,899.
Share Market Highlights: Sensex ends 667 points lower, Nifty at 10,899; HDFC Life, Axis Bank top losers