Sensex, Nifty LIVE Updates on August 20: Domestic benchmarks reversed trend from three days of consecutive gains and fell deep in red, amid weak global cues. Sensex was trading 354 points lower at38,276 and Nifty fell 88 points to 11,324. Meanwhile, April-June quarterly earnings announcements by Indian Overseas Bank, MOIL, Salora International, Madhucon Projects, Healthcare Global Enterprises among others will also set the tone for the stock market today. Yesterday, Sensex ended 86 points higher at 38,614 and Nifty gained 23 points to 11,408.
Here's a look at the updates of the market action on BSE and NSE today
9. 33 AM: Global cues
Wall Street finished lower on Wednesday after the Federal Reserve raised concerns that the US economic recovery from the devastating effects of the pandemic. Federal Open Market Committee members agreed at their latest meeting in late July that the ongoing situation surrounding the coronavirus pandemic could "weigh heavily on economic activity, employment, and inflation in the near term and was posing considerable risks to the economic outlook over the medium term," according to the meeting minutes.
Asian stocks fell on Thursday as China kept its benchmark lending rate on hold.
9. 20 AM: Opening session
Domestic benchmarks reversed trend from three days of consecutive gains and fell deep in red, amid weak global cues. Sensex was trading 354 points lower at38,276 and Nifty fell 88 points to 11,324.
9.12 AM: Market outlook
For the upcoming sessions, traders will keep an eye on the minutes of the RBI monetary policy panel meeting which will be released on August 20. The foreign exchange reserves data will be released on August 21.
As per technical indicators, Nifty has finally crossed the earlier consolidation phase of 11300-11370 zone.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said," The index has held the 11350 levels for the entire trading session. There could be a brief pause after yesterday's rally. The trend continues to remain bullish and we should expect higher levels of 11500 and then 11700. Traders could use any dip as a buying opportunity."
9. 05 AM:Stocks to watch today on August 20
SBI, DLF, PNB Housing Finance, Ruchi Soya, L&T Finance among others are the top stocks to watch out for in Thursday's trading session
Stocks in news: SBI, DLF, PNB Housing Finance, Ruchi Soya, L&T Finance
8. 50 AM: Earnings Today
Madhucon Projects, Healthcare Global Enterprises, Indian Overseas Bank, MOIL, Salora International, IRB InVit Fund, Modern India among others will report April-June quarter earnings today.
8. 40 AM: FII/ DII action
Foreign portfolio investors (FPIs) bought shares worth Rs 459.01 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 97.13 crore in the Indian equity market on 19 August, provisional data showed.
8. 30 AM: Closing
Domestic benchmarks ended on a bullish note on Wednesday, tracking persistent foreign fund inflows amid mixed global cues. Extending gains for the third straight session, Sensex ended 86 points higher at 38,614 and Nifty gained 23 points to 11,408. Yesterday, Sensex ended 477 points higher at 38,528 and Nifty added 138 points to close at 11,385.
Sensex ends 86 points higher, Nifty at 11,408 amid mixed global cues