Sensex, Nifty LIVE Updates on August 13: Sensex and Nifty traded on a bullish note on Thursday, amid positive global equities, although gains were checked by worries over rising coronavirus cases. Traders said investors are keeping an eye out for the release of CPI data scheduled later today.SGX Nifty was rising 30 points higher, indicating positive trend in domestic grounds today. Sensex was rising 95 points at 38,465 and Nifty was trading 37 points higher at 11,346. Yesterday, Sensex ended 37 points lower at 38,369 and NSE Nifty 50 closed 14 points lower at 11,308. Meanwhile, April-June quarterly earnings announcements by Hero MotoCorp, Tata Steel, Eicher Motors, Grasim Industries, Godrej Industries, Prestige Estates will also set the tone for the stock market today.
Here's a look at the updates of the market action on BSE and NSE today
11. 52 AM: Gold prices fall for fourth session
Gold price in Indian commodity market recovered from heavy losses registered yesterday and traded above Rs 51K mark, amid mild recovery in global markets.
Overseas, gold and silver prices recouped from the worst fall in seven years and traded 1% higher on Thursday's session as bleak economic data strengthened concerns over economic slowdown due to the Covid-19 pandemic. A weak dollar also made gold cheaper for holders of other currencies. The dollar index slipped 0.2% against rivals today.
Gold price falls for 4th day, trades above Rs 51K mark
11. 41 AM: IT stocks top gainers
IT stocks were rising on Thursday's session. Trump administration has relaxed some rules for H-1B visas holders allowing them to enter the United States for those continuing employment with the same employer. TCS was the top gainer in the Sensex pack, rising around 2 per cent, followed by Tech Mahindra and Infosys.
11. 34 AM: Top gainers and losers
TCS, followed by NTPC, Tech Mahindra, ONGC, SBI, Infosys and Tata Steel were among the top gainers today. On the other hand, Bharti Airtel, ITC, Maruti, Sun Pharma and HDFC were among the laggards.
11.10 AM: Rupee opens unchanged at 74.83 per dollar
The rupee opened on a flat note at 74.83 against the US dollar on Thursday, unchanged from its previous close despite a weak dollar, FII inflows and positive opening in domestic equity markets.
After opening flat, the local unit later fell by 2 paise to 74.85, as against its previous close of 74.83 against US dollar, even as Sensex, Nifty were trading in the positive territory.
Rupee vs Dollar: Rupee opens unchanged at 74.83 per dollar
10. 55 AM: Nifty outlook
Geojit Financial said in a note,"Expecting 11375-11444 region that was discussed on the day before, could be a bit optimistic for the day, despite the surge yesterday in the second half. Favoured view expects 11340-11375 region to turn upside attempts lower and force another consolidation without breaching 11250. Post this consolidation, a directional move to either 11600 or 10640 would be in line, and until 11250 holds, we would favour the 11600 move.
10.43 AM: Coronavirus toll
In India, coronavirus cases surpassed 23.95 lakh mark today, with total deaths standing at 0.47 lakh. Worldwide, there are 208 lakh confirmed cases and 7.47 lakh deaths from COVID-19 outbreak.
10.33 AM: Tata Power rises 4%
Shares of Tata Power Company Ltd jumped nearly 4% after the company posted higher quarterly profit. The company's consolidated net profit grew by 10% to Rs 268 crore for quarter ended June as against a net profit of Rs 243 crore during the same period a year ago.
10.28 AM: Oil prices today
Oil price bounced back after data showed US oil inventories fell more than expected. Brent crude futures, the global oil benchmark, fell 0.18 per cent to USD 45.35 per barrel.
10. 14 AM: Global cues
Asian markets were trading positive tracking overnight gains in US supported by technology stocks. Australia's jobs report will be out today.
Wall Street closed higher amid signs of slowing down in coronavirus spread and better economic data.
European markets closed higher after a choppy start as investors gave more weight to possibility of economic recovery from the pandemic.
10.05 AM: Gold outlook
On London spot technical outlook, Geojit Financial Services said in a note, "Pullbacks are likely in the initial hours, but it is required to sustain above $1980 to continue the momentum. Else, likely for corrective selling pressure towards $1860 followed by $1780 levels for the day."
As per the brokerage, MCX Gold August, resistance is placed at 53,600 and support is at 50,450/49,200. For MCX Silver August futures, the resistance is at 70,120/72,980 and the support is placed at 60,100.
9. 46 AM: Gold prices today
The yellow metal continued bearish momentum for the fourth session, although traded 0.50% lower or Rs 310 at Rs 51,944, after hitting an intraday high of Rs 52,365. This was against the previous close of Rs 52,254 per 10 gm. MCX gold futures trade almost Rs 4,240 lower than the lifetime high of Rs 56,191 per 10 gm, hit last Friday.
9. 32 AM: Nifty outlook
As per Reliance Securities, "NSE-NIFTY breached six sessions old rising trend with a minor decline. On the daily chart, the index has formed Tri Star Bearish pattern. Tri-star pattern form when three consecutive doji candlesticks appear at the end of prolonged trend. Any sustainable move below the low of its third doji (placed at 11,243 mark) will confirm the bearish reversal in the index. That could lead the index towards 11,080 and 10,845 levels, which coincides with its 20-day EMA and 200-day SMA, respectively. In the meanwhile, near-term consolidation or a minor decline cannot be ruled out. On the higher side, the index will face hurdle at around 11,435 mark.
As for the day, support is placed at around 11,260 and then at 11,212 levels, while resistance is observed at 11,339 and then at 11,370 levels."
9. 23 AM: FII/ DII action
Foreign portfolio investors (FPIs) bought shares worth Rs 351.15 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 939.67 crore in the Indian equity market on 12 August 2020, provisional data showed.
9. 15 AM: Opening session
Sensex and Nifty opened on a bullish note on Thursday, extending last week's gains amid positive global equities. SGX Nifty was rising 30 points higher, indicating positive trend in domestic grounds today. Sensex was rising 95 points at 38,465 and Nifty was trading 37 points higher at 11,346.
9. 08 AM: Stocks in news
Hero MotoCorp, Tata Steel, Eicher Motors, Grasim Industries, Godrej Industries, Prestige Estates are among the top companies that will be reporting their April-June quarterly earnings
Stocks in news: InterGlobe Aviation, Ashok Leyland, Aurobindo Pharma, Indiabulls Housing, Tata Power
8. 50 AM: Global markets
Overseas, Asian stocks are mostly trading higher following a surge in the U.S. markets overnight. Traders shrugged off uncertainty over a second coronavirus stimulus bill after the Treasury Secretary Steven Mnuchin said the White House is open to resuming coronavirus aid talks with Democrats.
8. 40 AM: Technical outlook
As per Nifty's technical indicators, support is placed at around 11,290 and then at 11,257 levels, while resistance is observed at 11,364 and then at 11,406 levels."
Commenting on markets' closing today, Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said," Markets continued in a range but managed to keep above 11250. We are in a market where dips can be bought into - the target for the Nifty should be 11500. A support or stop loss can be placed below 11100."
8. 35 AM:Earnings today
Hero MotoCorp, Tata Steel, Eicher Motors, Grasim Industries, Balkrishna Industries, Power Finance Corporation, Trend, Godrej Industries, Prestige Estates and Endurance Technologies are among companies which will announce their April-June quarter results today.
8. 30 AM: Closing yesterday
Sensex and Nifty ended flat with negative bias on Wednesday, on back of heavy selling pressure in pharma stocks, amid negative global equities. Reversing gains after three straight sessions, Sensex ended 37 points lower at 38,369 and NSE Nifty 50 closed 14 points lower at 11,308. On Tuesday, Sensex ended 244 points higher at 38,407 and Nifty closed 52 points higher at 11,322.
Sensex, Nifty end lower after three sessions as pharma stocks fall