Sensex, Nifty LIVE Updates on September 2: Sensex and Nifty were trading marginally lower on Wednesday, amid high volatility led by weak global cues. Heightened tensions at India's disputed border with China also kept market muted today. Sensex was trading 17 points lower at 38,883 and Nifty fell by 13 points to 11,456. Yesterday, Sensex ended 272 points higher at 38,900 and Nifty gained 82 points to close at 11,470. Meanwhile, April-June quarterly earnings announcements by Coal India, Arvind Fashions, Bannari Amman Sugars, Dish TV India, Infibeam Avenues, Jubilant FoodWorks 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. 16 PM: Top losers and gainers
SBI, Bajaj Auto, HDFC, Kotak Bank and Titan were the top laggards today. On the other hand, UltraTech Cement, followed by ONGC, Tech Mahindra, Tata Steel, ITC, Reliance Industries and Infosys were among the top gainers.
12.08 PM: Market turns muted
Sensex and Nifty were trading marginally lower on Wednesday, amid high volatility led by weak global cues. Heightened tensions at India's disputed border with China also kept market muted today. Sensex was trading 17 points lower at 38,883 and Nifty fell by 13 points to 11,456.
11. 59 AM: Gold, Silver prices in India on September 2
Gold price fell after three straight sessions of gains in Indian as well as international commodity markets on Wednesday. Prices of gold and silver fell as solid economic data in the US helped lifting the dollar.
On the Multi-Commodity Exchange, Gold October Futures fell by Rs 250 at Rs 51,250, after hitting an intraday low of Rs 51,220 against the previous close of Rs 51,502 per 10 gm. MCX gold futures currently trade almost Rs 4,976 lower than the lifetime high of Rs 56,191 per 10 gm, hit on August 7. On MCX, the yellow metal has risen 41.5% to life-time high since the beginning of the year.
Gold price slips after 3 days; silver rates at Rs 69,600
11. 43 AM: Advance-decline ratio improves in August
The advance-decline ratio (ADR) which compares the number of shares that advanced to those that ended lower over their previous day's close has inched up to 1.3 in August compared to 1.03 in July. The Sensex delivered returns of 2.7 per cent and 7.7 per cent, respectively, during the period. The market capitalisation of all BSE-listed stocks jumped 4.3 per cent from Rs 147.4 lakh crore to Rs 153.8 lakh crore last month against a 6 per cent gain in July.
Stock market advance-decline ratio improves in August, indicates bullish trend
11. 34 AM: Vodafone share gains 13%
Vodafone Idea share rose 13% in early trade today after the telco said its board would hold a meeting on September 4 to finalise plan to raise funds. Bharti Airtel and Vodafone Idea are likely to hike tariffs for voice and data services after the Supreme Court asked telcos to pay 10 percent of their AGR dues within the next seven months. This also led to positive sentiment around the stock.
Vodafone Idea share surges 13% as board to consider raising funds on September 4
11. 20 AM:Bajaj Auto share slips nearly 2%
Bajaj Auto share slipped in early trade today after the automaker said sales in August fell 9%. The stock has lost 5.11% in the last 5 days. The large cap share slipped 1.62% to Rs 2,910 against previous close of Rs 2,958 on BSE. Total 8188 shares changed hands amounting to turnover of Rs 2.41 crore.
Bajaj Auto share slips nearly 2% on decline in August sales
11. 12 AM:Coronavirus Toll
Worldwide, there were 259 lakh confirmed cases and 8.61 lakh deaths from COVID-19 outbreak. Meanwhile, India's death toll from COVID-19 infections rose to 66,460 and total coronavirus cases to 37.69 lakh as of Wednesday
11. 01 AM: Dollar index
The dollar rose from two-year lows as investors were optimistic about better-than-expected data of US manufacturing sector.
10. 54 AM: Rising US-China tensions
The US Trade Representative's office said it has reportedly extended China tariff exclusions for a wide range of goods through the end of 2020, rather than renewing the previous one-year extension. In a Federal Register notice, USTR said the extensions were applied to products excluded from its 7.5% "Section 301" tariffs imposed a year ago on some $300 billion worth of Chinese goods.
10. 46 AM: Gold outlook
Anuj Gupta, DVP, Commodities and currency, Angel Broking," The US Dollar recovered as US factory activities strengthened in August'20 which might weigh on the gold prices. As of today, traders can go for sell in gold at Rs 51,700 levels with the stop loss of Rs 52,150 levels for the target of 51,000 levels. They can also go for sell in Silver at Rs 71,000 levels, with the stop loss of 72,500 levels and for the target of 67,000 levels. In the Bullion index 'Bulldex' traders can also go for sell at 16300 with the stop loss of 16550 and for the target of 16000."
10. 35 AM: Market update
Sensex and Nifty were trading lower on Wednesday, amid high volatility led by weak global cues. Heightened tensions at India's disputed border with China also kept market muted today. Sensex was trading 150 points lower at 38,746 and Nifty fell by 36 points to 11,434.
10. 17 AM: Market outlook
On opening session today, Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,"The markets have respected the 11300 support and run up to test 11500. The important level to watch out for is 11600 - we need to close above that level. Thereafter we could target 11800. On the flip side until 11300 does not break, we have no reason to worry."
10. 09 AM: Global markets
Overseas, Asian stocks that opened higher encouraged by buoyant US moves gave up early gains and turned red on rising US china tensions.
In US, the S&P500 and the Nasdaq hit new highs yesterday on better-than-expected data on US manufacturing sector data gave optimism about economic recovery.
9. 59 AM: Nifty technical
As per geojit Financials, 11550 held the upside attempts yesterday on anticipated lines. The repeated downside attacks has forced the immediate downside consolidation range to shift lower to 11400-11300. While a close above 11630 is still awaited before the playing the upmove again, it will not be a surprise if Nifty edges lower systematically, over the next few days to 11060 or 10800s, before attempting the 12100 move.
9.47 AM: FII action
Foreign portfolio investors (FPIs) bought shares worth Rs 486.09 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 775.23 crore in the Indian equity market on 1 September, provisional data showed.
9. 34 AM: GST Collections
Goods and Services tax (GST) collection for the month of August stood at Rs 86,449 crore, slightly less than Rs 87,422 crore collected in July, the government said on September 1. GST collection for the month of August last year stood at Rs 98,202 crore.
9. 23 AM: Opening session
Sensex and Nifty were trading marginally lower on Wednesday, amid high volatility led by weak global cues. Sensex was trading 17 points lower at 38,883 and Nifty fell by 13 points to 11,456.
9. 15 AM: Earnings Today
Coal India, Arvind Fashions, Bannari Amman Sugars, Dish TV India, Infibeam Avenues, Jubilant FoodWorks, Kernex Microsystems, Navkar Corporation, Sadbhav Engineering, Sandur Manganese, Satin Creditcare Network among others will report Q1 results today.
9. 10 AM: Technical Insights
Yesterday, the 50 stock barometer Nifty crossed major resistance placed near 11,400 mark and closed at 11,470, while Sensex, the 30 scrip index on BSE ended at 38,900, after hitting 39,226 earlier in the session.
9.00 AM: Stocks to watch today on September 2
ONGC, Infosys, Yes Bank, Adani Green, Indian Oil among others are the top stocks to watch out for in Wednesday's trading session.
Stocks in news: ONGC, Infosys, Yes Bank, Adani Green, Indian Oil
8. 50 AM: Nifty outlook for today
AS per RSL Research, NSE-NIFTY respected its 20-day EMA for straight second trading session in a row and formed bullish harami cross pattern on the daily chart. Due to recent pullback in the index, its key technical indicators on the near-term timeframe chart turned neutral. We believe the index will oscillate between 11,326 and 11,794 levels before a directional move. In case of breakdown, the index will initially find support at 11,111 mark and then at 10,815 level, which coincides with its recent swing low and its 200-day SMA, respectively.
As for the day, support is placed at around 11,380 and then at 11,290 levels, while resistance is observed at 11,547 and then at 11,623 levels.
8. 40 AM: Nifty outlook
Commenting on Nifty near term technicals, Aamar Deo Singh, Head Advisory, Angel Broking said, "Nifty has crucial support seen around 11,300 levels whereas immediate resistance for the Index is seen around 11,600 levels. Sustaining above that is every essential for any meaningful upside to materialize in the coming days."
8. 30 Closing on Tuesday
After a volatile trading session, domestic equity benchmarks - Sensex and Nifty - ended on a bullish note on Tuesday, amid mixed global cues. Recovering from a 2% fall on Monday, Sensex ended 272 points higher at 38,900 and Nifty gained 82 points to close at 11,470.