Sensex, Nifty LIVE Updates on August 17: Sensex and Nifty opened on a bullish note on Monday, although turned volatile within the first hours of session, amid weak global equities. Sensex traded 23 points higher at 37,900 and Nifty gained 18 points to 11,197. Meanwhile, April-June quarterly earnings announcements by Can Fin Homes, Petronet LNG, Lux Industries, HFCL, Scooters India, Suven Pharma, Sical Logistics among others will also set the tone for the stock market today. On Friday, the BSE Sensex settled 433 points lower at 37,877 and Nifty fell 122 points to end at 11,178.
Here's a look at the updates of the market action on BSE and NSE today
10. 18 AM: Gold imports plunge 81% to $2.47 billion during April-July
India's gold imports, which have a bearing on the current account deficit (CAD), plunged 81.22 per cent to $2.47 billion (about Rs 18,590 crore) during April-July period of 2020-21 due to a significant fall in demand in the wake of COVID-19 pandemic, according to data from the Commerce Ministry. The decline in gold and silver imports has helped in narrowing the country's trade deficit, difference between imports and exports, to USD 13.95 billion during April-July 2020-21 as against USD 59.4 billion in the year-ago period
Gold imports plunge 81% to $2.47 billion during April-July
10. 08 AM: Global cues
Asian stocks were trading mixed on Monday as tensions between the US and China continue to weigh on investor sentiment. In US, stocks ended on a mixed note on Friday as data on the US economy added to uncertainty over the recovery. Meanwhile, a planned US-China trade deal review initially set for Saturday was reportedly delayed with no new date agreed upon. The delay was due to scheduling conflicts as well as to give time for more Chinese purchases of U.S. exports.
9. 52 AM: Stocks to watch today on August 17
ICICI Bank, Glenmark Pharma, United Breweries, Fortis Healthcare, Berger Paints among others are the top stocks to watch out for in Monday's trading session
Stocks in news: ICICI Bank, Glenmark Pharma, United Breweries, Fortis Healthcare, Berger Paints
9. 46 AM: Market erases gains
Sensex and Nifty opened on a bullish note on Monday, although turned volatile within the first hours of session, amid weak global equities. Sensex traded 23 points higher at 37,900 and Nifty gained 18 points to 11,197. Global equities were trading mixed today as tensions between the US and China and rising coronavirus cases added to uncertainty over the recovery.
9. 34 AM: RBI transfersRs 57,128 crore in surplus as dividend to Govt
The Reserve Bank of India (RBI)'s central board has approved the transfer of Rs 57,128 crore in surplus as dividend to the government for the accounting year 2019-20. The Board reviewed the current economic situation, continued global and domestic challenges and the monetary, regulatory and other measures taken by RBI to mitigate the economic impact of COVID-19 pandemic.
9. 19 AM: Opening bell
Sensex and Nifty opened on a bullish note on Monday, amid positive global equities. SGX Nifty was rising 90 points higher, indicating positive trend in domestic grounds today. Sensx traded 180 points higher at 38,018 and Nifty gained 53 points to 11,231.
9. 10 AM: FII/ DII data
Foreign portfolio investors (FPIs) bought shares worth Rs 46.39 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 797.08 crore in the Indian equity market on 14 August, provisional data showed.
9.00 AM: Nifty outlook
"The week ahead for the global markets will be shaped by the outcome of US-China meeting, and with Indian markets increasingly in sync with global cues, this could have an impact on the opening days of the week. Any indication of another stimulus package by the government will benefit the markets. Focus will remain on earnings visibility and with liquidity remaining high, any corrections may be bought into. However, we advice to be in an accumulation mode and focus on quality stocks," said Vinod Nair, Head of Research at Geojit Financial Services.
Share market expectations: 10 things you need to know before opening bell
8. 50 AM: Earnings Today
Can Fin Homes, Petronet LNG, Lux Industries, HFCL, Scooters India, Suven Pharma, Sical Logistics and Orient Paper are among companies which are scheduled to report their April-June quarter results today.
8. 40 AM: Last week trade
During the week ended August 14, Sensex and Nifty settled in negative terrain, falling by 163 points and 35 points, respectively.
Six of the 10 most valued domestic firms together lost Rs 78,275 crore in market valuation last week, pulled down largely by heavyweights Reliance Industries Limited (RIL) and Tata Consultancy Services (TCS). RIL, TCS, HDFC Bank, Hindustan Unilever Limited (HUL), Bharti Airtel, and Kotak Mahindra Bank suffered erosion in their market capitalisation (m-cap) during the week. However, Infosys, HDFC, ITC, and ICICI Bank finished with gains.
Six of top-10 firms lose Rs 78,275 crore in m-cap; RIL, TCS hit hard
8. 35 AM: Nifty outlook
Reliance Smartmoney Reserch: In the last week, NSE-NIFTY gained twice out of five trading sessions and reported fall of 0.3%. On Friday, the index slipped below its low of third doji candle of Tri-star pattern (placed at 11,243 level) and given bearish confirmation. Later, the index found support around its 20-day EMA and recovered partial loss. Its major technical indicators are in sell mode. This could drag the index towards 10,840 and 10,740 levels, which coincides with its 200-day SMA and its 50-day EMA, respectively. On the higher side, the index will face hurdle at around 11,435 mark.
As for the day, support is placed at around 11,071 and then at 10,964 levels, while resistance is observed at 11,326 and then at 11,474 levels.
8. 30 AM: Friday's closing
Domestic benchmark indices erased early gains and ended 1% lower each on Friday led by selling pressure in auto and banking stocks amid negative global equities. Sensex ended 433 points lower at 37,877 and Nifty fell 122 points to end at 11,178. Yesterday, Sensex ended 59 points lower at 38,310 and Nifty lost 7 points to 11,300.
Sensex ends 433 points lower, Nifty at 11,178; auto, banking stocks lead losses