Sensex, Nifty LIVE Updates on August 27: Domestic benchmarks Sensex and Nifty traded on a bullish note on Thursday, the F&O expiry day, amid positive global equities. Extending gains for the fourth straight session, the S&P BSE Sensex traded 220 points higher at 39,293. The Nifty 50 index was rising 59 points higher at 11,609. Yesterday, Sensex ended 230 points higher at 39,073 and Nifty 50 index ended 77 points higher at 11,549. Meanwhile, April-June quarterly earnings announcements by IDFC, NMDC, Edelweiss Financial Services, Icra, Hindustan Construction Co, Himatsingka Seid among others will also set the tone for the stock market today.
12.16 PM: Global MarketsAsian markets continued to trade mixed ahead of Federal Reserve Chairman's speech and after positive comments from Moderna on its developed vaccine.
U.S. markets closed higher backed by gains seen in technology companies like Alphabet and Facebook and supportive economic data.
European markets closed higher amid optimism over US-China trade and ahead of the speech from Federal Reserve Chairman. Tech shares led the gainers.
12.08 PM: Market update
Domestic benchmarks Sensex and Nifty traded on a bullish note on Thursday, the F&O expiry day, amid positive global equities. Extending gains for the fourth straight session, the S&P BSE Sensex traded 220 points higher at 39,293. The Nifty 50 index was rising 59 points higher at 11,609.
11.49 AM: Gold, Silver prices in India on August 27
Gold price in India reversed trend after two sessions of marginal gains. The fall in prices came in line with global markets as investors awaited US central bank speech from Federal Reserve Chairman Jerome Powell, scheduled today.
On the Multi-Commodity Exchange, Gold October Futures traded tad lower, by Rs 28 at Rs 51,751, after hitting an intraday low of Rs 51,596 against the previous close of Rs 51,779 per 10 gm. MCX gold futures currently trade almost Rs 4,595 lower than the lifetime high of Rs 56,191 per 10 gm, hit on August 7.
Gold price slips after two days; silver rates at Rs 66,700
11. 34 AM:HAL share price
HAL share price fell in early trade today after the state-owned firm said government would sell up to 15 per cent stake through an offer for sale (OFS). The stake sale could fetch about Rs 5,000 crore to the exchequer. The share sale will be part of the Narendra Modi government's ambitious Rs 2.1 lakh crore disinvestment target for fiscal 2020-21.
Share price of HAL declined 11.43 % to Rs 1043 against previous close of Rs 1,177 on BSE. Total 0.57 lakh shares of the firm changed amounting to turnover of Rs 6.43 crore. Market cap of HAL fell to Rs 35,376 crore.
HAL share slips 11% on govt plan to sell stake via OFS route
11.27 AM: Nifty outlook
As per Geojit Financial Services, standard deviation studies suggest that the 11800 move may have to wait, with favoured view expecting a constriction in trading range. Inability to push above 11600 early in the day, should confirm this, and would see 11460 pulling prices back. Falls below 11400 could break the upside momentum, with the first objective being 11230. Alternatively, a pull back later in the day towards 11600 may revive the 11800, but directional upsides are less expected today.
11.10 AM: Gold outlook
Commenting on gold's near term technical indicators, Hareesh V Geojit's head of commodity research said, "Gold will continue to trade clueless ahead of the key US central bank speech scheduled today. However, optimism of Covid vaccine, gaining equities and a steady US dollar will continue to put downside pressure on the commodity. Anyhow, major weakness is unlikely due to increased safe haven demand of the metal."
On London spot technical outlook, he added," Immediate resistance of $1962 needs to be cleared to continue further upticks towards $2000 or more. Else, there will be a likely corrective selling but major support is seen at $1900."
10. 59 AM: Coronavirus toll
In India, the death toll touched 59,612 and total coronavirus cases reached 32.34 lakh as of Tuesday. Worldwide, there were 240 lakh confirmed cases and 8.23 lakh deaths from COVID-19 outbreak.
10. 46 AM: Dollar index today
The dollar index fell 0.2% to a near one-week low against a basket of major currencies, giving some repite to the precious metal.
10. 30 AM:Nifty's technical outlook
Expressing views on Nifty's near term technical insights, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said, "Going ahead, a sustainable move below 11420 should be considered as an exit opportunity for existing longs and aggressive traders can opt to short as well. Below this, 11350-11300 are the next levels to watch out for. On the upside, 11500-11525 remains to be an immediate hurdle and in case if it extends further, we will still avoid participating in it."
On the Nifty Bank outlook, he added, "Banking space has gained some strength in the last 3-4 days and it is clearly not letting the market fall. It has now reached it's recent crucial high around 23200-23250."
10. 12 AM: Stocks in news
ICICI Bank, HAL, Allcargo Logistics, Gillette, Siemens among others are the top stocks to watch out for in Thursday's trading session
Stocks in news: ICICI Bank, HAL, Allcargo Logistics, Gillette, Siemens
10. 04 AM: Global market outlook
Vinod Nair, Head of Research at Geojit Financial Services said," Indian benchmark indices picked up positivity towards the latter half of the trading day, after trading flat with a slight positive bias, and ended in gains. It was in sync with a positive opening in the European markets which is banking on additional stimulus measures to aid economic recovery."
9. 56 AM: Nifty's technical outlook
Commenting on Nifty's technical outlook, Rohit Singre, Senior Technical Analyst at LKP Securities said, "Nifty has shifted its support to 11500-11450 zone as index traded decisively above 11500 zone so existing longs can be held with 11500 trailing stop out and resistance is coming near 11600-11650 zone which will be immediate profit booking levels.
On Nifty Bank, he added, "Nifty bank closed a day at 23434 with gains of 1.48% and formed a bullish candle on the daily chart, supports are coming near 23230-23000 zone and resistance is coming near 23600-23850 zone."
9.33 AM: Global markets
In US, stocks closed higher on Wednesday, pushing the S&P 500 to its fourth straight record closing high. Asian stocks are trading higher on Thursday after the S&P 500 and Nasdaq rallied to fresh records on upbeat corporate results.
Meanwhile, investors awaited with caution on US Fed Chairman Jerome Powell's view on monetary policy and on economic condition. Fed Chairman Jerome Powell will speak Thursday during a virtual version of the Fed's annual Jackson Hole, Wyoming, conference. He is expected to outline what could be the central bank's most active efforts ever to spur inflation back to a healthy level.
In Europe, stock exchanges in Paris and Frankfurt were trading on a positive note in early deals, while London witnessed losses. European indices ticked higher on expectation of additional stimulus for Germany and France.
9. 21 AM: Technical outlook
"The short term trend of Nifty continues to be positive. Next upside resistance to be watched at 11,650 for the next few sessions. Immediate support to be watched at 11,450. A decisive/sustainable move above 11,600-11,650 could pull Nifty towards the next upside of 11,900-12,000 in the near term," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
9. 17 AM: Opening session
Sensex and Nifty opened on a bullish note on Thursday, amid positive global equities. Extending gains for the fourth straight session, the S&P BSE Sensex traded 220 points higher at 39,293. The Nifty 50 index was rising 59 points higher at 11,609. Yesterday, Sensex ended 230 points higher at 39,073 and Nifty 50 index ended 77 points higher at 11,549.
9. 08 AM: Expiry day
Trading could be volatile as traders roll over positions in the F&O segment from the near month August series to September series. The August 2020 F&O contracts expire today, 27 August 2020.
8. 59 AM: Market outlook
"With upbeat global cues and sustained recovery in banking majors, we expect Nifty to test our immediate target of 11,600 levels soon. Though all the sectors are contributing to the move on a rotational basis, traders may find it difficult to choose stocks after the substantial surge. We suggest preferring private banking, FMCG and select counters from energy and IT space for fresh buying," said Ajit Mishra, VP - Research, Religare Broking.
Share market expectations: 5 things to know before tomorrow's opening bell
8. 51 AM: FII/ DII action
Foreign portfolio investors (FPIs) bought shares worth Rs 1,581.31 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,194.62 crore in the Indian equity market on 26 August, provisional data showed.
8. 44 AM: GST Council meet today
The GST Council is scheduled to meet on August 27 to discuss the compensation payout to states and the opinion of the Attorney General on the legality of market borrowing to meet revenue shortfall. The next meeting of the Council would be held on September 19, agenda for which is yet to be decided.
8. 40 AM: Rupee closing yesterday
Tracking a bullish rally from the equity market, Indian rupee that opened 7 paise higher at 74.26, ended at 74.30 per dollar, as against yesterday's close of 74.32.
8. 34 AM: Earnings today
Companies set to announce their earnings are IDFC, NMDC, Edelweiss Financial Services, Icra, Hindustan Construction Co, Himatsingka Seid among others.
8. 30 AM: Closing session yesterday
Benchmark indices Sensex and Nifty ended on a bullish note on Wednesday, led by banking and automotive stocks amid positive global equities. Extending gains for the fourth straight session, the S&P BSE Sensex ended 230 points higher at 39,073. The Nifty 50 index ended 77 points higher at 11,549.
Sensex ends 230 points higher, Nifty at 11,549; banks, auto stocks rally