Sensex, Nifty LIVE Updates on August 14: Domestic benchmark indices traded on a bullish note on Friday, led by gains in index-heavyweights Reliance Industries, Infosys and L&T amid sustained foreign fund inflow, amid mixed global equities. Sensex was rising 126 points higher at 38,436 and Nifty gained 39 points to trade at 11,339. Yesterday, Sensex ended 59 points lower at 38,310 and Nifty lost 7 points to 11,300. Meanwhile, April-June quarterly earnings announcements by Hindalco, NTPC, Glenmark Pharma, Berger Paints, United Breweries, Indian Bank, MRF, Fortis Healthcare, Greenply among others 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
12.90 AM: Market update
Domestic benchmark indices traded on a bullish note on Friday, led by gains in index-heavyweights Reliance Industries, Infosys and L&T amid sustained foreign fund inflow, amid mixed global equities. Sensex was rising 126 points higher at 38,436 and Nifty gained 39 points to trade at 11,339.
Markets participants will also track Wholesale Price Index (WPI) data, and trade data scheduled to be released later in the day for further cues, traders said.
11. 45 AM: Retail gold rate in India
24-carat gold prices in the national capital traded at Rs 55,910 per 10 gram. Price of 24-carat gold stood at Rs 55,510 per 10 gram in Chennai. In Mumbai, the rate was Rs 52,260 for 24-Carat gold, as per Good Returns website.
Gold price falls for fifth consecutive session, silver rates at Rs 70,500
11. 20 AM: Hero MotoCorp share falls 2%
Hero MotoCorp share price slipped in early trade today after the firm reported a 95% crash in Q1 net profit. Share price of Hero MotoCorp touched an intraday low of Rs 2,757, falling 1.95% on BSE against the last closing value of Rs 2,811.
Hero MotoCorp share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock has fallen after 3 days of consecutive gain.
Hero MotoCorp share falls 2% after Q1 profit crashes 95%
11. 13 AM: Rupee opens higher
Rupee, the currency benchmark inched 3 paise higher per dollar to 74.81 on Friday's opening bell, tracking positive domestic equities and sustained foreign fund inflows.
The domestic unit opened at 74.85 against the US dollar at the interbank forex market and gained ground to touch 74.81 per dollar, registering a marginal rise of 3 paise over its previous close of 74.84.
Rupee inches 3 paise higher to 74.81 per dollar amid positive equities, FII inflows
10.51 AM: Top gainers and losers
L&T, followed by Sun Pharma, Reliance Industries, UltraTech Cement, NTPC, Asian Paints, TCS and Infosys were among the top gainers in the Sensex pack. On the other hand, HCL Tech, PowerGrid, ONGC, ITC, Axis Bank and Maruti were among the laggards.
10. 42 AM: Gold price drops for fifth session
The yellow metal continued bearish momentum for the fifth session, declining 0.50% lower or Rs 260 at Rs 52,670, after hitting an intraday high of Rs 52,700. This was against the previous close of Rs 52,930 per 10 gm. MCX gold futures trade almost Rs 3,491 lower than the lifetime high of Rs 56,191 per 10 gm, hit last Friday.
Silver September futures were trading Rs 565 lower at Rs 70,512 per kg today after they touched an intraday high of Rs 70,650 per kg. Silver Futures have hit a lifetime high of Rs 77,949 in last Friday's session.
10. 32 AM: Overseas commodity prices
Overseas, gold and silver prices stayed flat after the recent decline, as jobs data showed more is required to kickstart economy even though it was above estimates
Spot gold was down 0.1% at $1,952.01 an ounce, after falling 4% so far this week, its biggest weekly percentage fall since early March. Where US gold was trading 0.5% to $1,960.50, Comex Gold was flat at $1,956 per ounce.
Silver also fell snapped its 9-week winning streak, dropping 3.5% so far. The precious metal dropped 1.1% to $27.26 per ounce.
10. 15 AM: Coronavirus toll
India continues to see the rising number of coronavirus cases, with new infections taking the total to 24.59 lakh mark today, with total deaths standing at 0.48 lakh. Worldwide, there are 210 lakh confirmed cases and 7.57 lakh deaths from COVID-19 outbreak.
10.03 AM: Oil prices today
Oil prices remained lackluster on Friday after IEA lowered its 2020 oil demand forecast post travel restrictions in many countries. Brent crude futures, the global oil benchmark, rose mere 0.33 per cent to USD 45.11 per barrel.
9. 40 AM: Gold outlook
On London spot technical outlook, Geojit Financial Services said in a note, "Sustained trades above $1980 is required to continue upticks in the counter. Else, likely for corrective selling pressure towards $1860 followed by $1780 levels later."
As per the brokerage, MCX Gold August, resistance is placed at 53,600 and support is at 51,400/49,200. For MCX Silver August futures, the resistance is at 72,200/74,980 and the support is placed at 60,100.
9.31 AM: Stocks in news today
Bank of India, Tata Steel, Hero MotoCorp, BPCL, Eicher Motors among others are the top stocks to watch out for in Friday's trading session
Stocks in news: Bank of India, Tata Steel, Hero MotoCorp, BPCL, Eicher Motors
9. 23 AM: Global markets
Asian stocks were trading mixed on Friday as investors remained cautious after impasse over the next round of coronavirus aid worth $1 trillion in the US.
US, stocks closed on mixed note on Thursday as investors digested better-than-expected unemployment data and monitored the stalemate in stimulus negotiations.
9. 17 AM: Opening session
Sensex and Nifty opened on a bullish note on Friday, erasing yesterday's decline amid mixed global equities.Sensex was rising 149 points higher at 38,459 and Nifty gained 52 points to trade at 11,353.
9. 07 AM: FII/ DII action
Foreign portfolio investors (FPIs) bought shares worth Rs 416.28 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 763.54 crore in the Indian equity market on 13 August, provisional data showed.
8. 55 AM: Market outlook
Vinod Nair, Head of Research at Geojit Financial Services said,"Global cues were also mixed as Asian markets ended positively while European markets were trading in the negative. Uncertainty in global markets has emerged due to the doubtful US stimulus package and the impact of the US-China trade meeting over the weekend. Domestic stock valuation concerns and continuing high rate of virus infections impacted the Indian markets."
8. 50 AM: India's Retail inflation
India's retail inflation stood at 6.93% for the month of July as against 6.23% in the month-ago period, data released yesterday showed. The consumer price index (CPI)-based inflation rate for June has been revised from 6.09% to 6.23%.
8. 45 AM: Nifty outlook
As per Angel Broking, Nifty doesn't have enough strength to go beyond the sturdy wall of 11350-11400 as well. The index needs to break below 11238, which will result in some immediate correction towards 11125-11064.
Now, investors are keeping an eye over the US-China key trade talks scheduled on August 15, 2020. Breakthrough in the stalled US stimulus talks will decide the direction for equity markets.
8. 40 AM: Earnings Today
Hindalco Industries, NTPC, Glenmark Pharmaceuticals, Berger Paints, Bodal Chemicals, Borosil, Clariant Chemicals, Dilip Buildcon, Dollar Industries, Emkay Global, Finolex Cables, Fortis Healthcare, Greenply Industries, HG Infra Engineering, IIFL Wealth Management, Indian Bank, MRF, Nagarjuna Fertilizers, New India Assurance Company, Ramco Cements, Sun TV Network, United Breweries, Varroc Engineering, Voltas, VRL Logistics, Zuari Global among others will reprt April-June quarter earnings today.
8. 35 AM: Nifty technical indicators
Commenting on Nifty's near term technical outlook, Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said," The Nifty has resumed its up move after a brief pause yesterday. We should be heading to levels closer to 11500 during the course of this month's expiry. The support for the Nifty is at 11150 so a closing below that level could be kept as a stop for all long trades."
8. 30 AM: Closing on Thursday
Benchmark indices ended lower for the second straight session amid record surge in coronavirus cases and mixed global cues. Gains in consumer durables and capital goods stocks were offset by a fall in pharma and financial stocks. Sensex ended 59 points lower at 38,310 and Nifty lost 7 points to 11,300.
Sensex, Nifty end lower for second straight session; pharma stocks lead losses