Sensex, Nifty LIVE Updates on September 15: Sensex and Nifty traded on a bullish note on Tuesday, amid positive global equities. SGX Nifty was rising 19 points higher, indicating positive trend in domestic grounds today.The 30-scrip BSE benchmark Sensex traded 162 points higher at 38,919 and NSE Nifty 50 gained 43 points to 11,483.Yesterday, Sensex fell 97 points to 39,756 and Nifty ended 43 points lower at 11,421.
Here's a look at the updates of the market action on BSE and NSE today
12. 34 PM: Global markets
Asian markets were trading mostly higher, barring Nikkei as investors were bouyed by Chinese IIP and retail sales data. Reserve Bank of Australia minutes was released yesterday noted that downturn was not severe as expected.
Markets in Wall street yesrterday closed higher on the back of a few corporate deals and optimism around coronavrius vaccine. Tech shares gained.
European markets had closed mostly lower.
12. 24 PM: Happiest Minds Technologies IPO
The allotment of shares for the applicants of Happiest Minds Technologies initial public offering (IPO) has been finalised. Investors can check status of their share allotment on the website of KFin Technologies. One needs to submit PAN number or IPO application number to check the allotment status. KFin Technologies Private Limited is the registrar of the Happiest Minds IPO. A registrar in an IPO is responsible for IPO allotment and refund processing. Meanwhile, website of KFin Technologies crashed today after investors rushed to check the allotment status.
Happiest Minds Technologies IPO: How to check allotment status
12. 19 PM: Rupee rises to73.33
Indian rupee, the currency benchmark gained by 15 paise to 73.33 per dollar on Tuesday's opening trade as weak US currency and positive domestic equities strengthened investor sentiments. Forex traders said news related to coronavirus vaccine and sustained foreign fund inflows also aided to gains in the local unit.
Rupee rises 15 paise to 73.33 amid weak dollar, positive equities
12.03 AM: Market update
The 30-scrip BSE benchmark Sensex traded 162 points higher at 38,919 and NSE Nifty 50 gained 43 points to 11,483.
11. 59 AM: Rupee outlook
Commenting on Rupee's near term outlook, Anuj Gupta - DVP- Commodities and Currencies Research, Angel Broking said,"Yesterday USD-INR appreciated by 0.09% and closed at73.47 levels. Rupee appreciated yesterday on the back of weakness in Dollar as US data shown slower growth in US. All major currencies appreciated yesterday. Chinese yuan hit a 16-month high of 6.8053 yuan per dollar on Monday and last traded at 6.8098 as China's retail sales and industrial output data for August due later in the day is its immediate focus. Indian Forex reserve stand at around US$542.013 Billion on 04 September 2020, the highest ever, with the Foreign Exchange Assets (FCA) component at around US$498.362 Billion.
On the outlook for the currency market, he added,"As of today, we are expecting more appreciation may be seen in Indian rupee.Traders can sell USDINR at 73.40 levels with the stoploss of 73.80 and for the target of 72.80 levels. Rupee may test 72.00 soon."
11. 43 AM: Gold, Silver prices in India on September 15
Gold price rose for the second straight session on Tuesday as the dollar weakened ahead of FOMC meeting on expectation that Fed policymakers would maintain a dovish policy.
Escalating tensions between US & China amid rising number of infections around the globe dented hopes of a fast economic recovery. Bleak global growth prospects and political and financial uncertainty has boosted the appeal for safe-haven assets.
Gold price rises for second day; silver rates at Rs 69,600
11. 29 AM: Future Retail share slips 5%
Future Retail share slipped nearly 5% in early trade today after the firm reported a consolidated net loss of Rs 561.95 crore in Q1 against net profit of Rs 159.24 crore in the April-June quarter a year ago. The retail stock fell up to 4.9% to Rs 96.1 against previous close of Rs 101.05 on BSE.
Future Retail share slips 5% on Rs 561-crore loss in Q1
11.10 AM: Market update
The 30-scrip BSE benchmark Sensex traded 74 points higher at 38,831 and NSE Nifty 50 gained 26 points to 11,466
11.04 AM: Covid-19 vaccine development by AstraZeneca
Yash Gupta-Equity Research Associate, Angel Broking said," AstraZeneca Covid 19 vaccine trials resumes-A vaccine in development by the British-Swedish company AstraZeneca and the University of Oxford a frontrunner in the race for a covid-19 vaccine. Vaccine is in phase 3 trials and Halted global trails 5 days ago, now the global trials resumes of the vaccine. The global trials were halted because one volunteer showed some illness but now indicated that the issue was particularly to the patient and not because of the vaccine. This is positive news for AstraZeneca and global markets."
10. 54 AM: Silver outlook
On Silver, Prathamesh Mallya, AVP-Research, Non-Agri Commodities and Currencies, Angel Broking said,"Silver has been shining relatively faster and brighter in comparison to gold in the international as well as domestic markets. Easy money policy of central banks, weakness in US dollar, rising investment demand, and the belief of investors in Silver as an asset class is resulting in optimism for price. 2020 will be remembered as the year of silver for investors across the globe."
10. 43 AM: Gold outlook
Cameron Alexander, Director of Precious Metals Research at GFMS, Refinitiv said,"The rally in gold has been powered by safe-haven appeal for the metal due to the worsening economic conditions resulting from an out of control pandemic. The central banks around the world continue to inject stimulus to resuscitate domestic economies, which has led in some cases to currency devaluation especially dollar and lower interest rates, further supporting the rally. Another factor that could disrupt the financial markets and support the gold rally are the political developments in the U.S."
"Looking ahead, the focus will continue to be on the corona virus developments worldwide and on fresh economic data coming out of the United States which will influence the price of gold in the short to medium term. Investors will be monitoring just how quickly the world's largest economy can return to expansion mode and how soon an economic relief bill will be finalised," he added.
10. 30 AM: Market outlook
Speaking on the upcoming market outlook, Ajit Mishra, VP - Research, Religare Broking said, "Among the major triggers, participants will first react to the IIP numbers next week, followed by the CPI and WPI inflation data in the coming sessions. Besides, further updates on disengagement between India and China at LAC would also remain on their radar"
10. 25 AM: IT stocks
Commenting on IT Sector, Jyoti Roy- DVP- Equity Strategist, Angel Broking said," The mid quarter guidance upgrade by HCL Tech led to a broad based rally in the IT sector led by HCL Tech which was up by 10.6% while Infosys and TCS were up by 2.9% and 4.85% respectively. However mid and small cap IT stocks performed better than their large cap counterparts as the new SEBI rule on multi-cap funds mandating minimum 25% investment in mid & small cap stocks coupled with the guidance upgrade by HCL Tech provided them with the much needed shot in the arm. Persistent Systems (+ 14.73%), Mphasis (+8.9%), Cyient (+7.26%) and L&T Infotech (up 6.0%) were amongst the biggest gainers in the mid & small cap IT space."
He added," The mid quarter guidance update by HCL Tech corroborates our view that demand for It services are expected to increase significantly in the aftermath of the Covid-19 crisis due to accelerated adoption of digital technologies. We continue to maintain our positive outlook on the IT sector with HCL Tech being our top pick in the large cap space while Persistent Systems and Zensar Technologies are our top picks in the mid & small cap IT space."
10. 18 AM: Asian markets
Asian markets were rose today following news of a potential COVID-19 vaccine as AstraZeneca resumed its phase-3 trial. Although gains were capped as traders also awaited the outcome from the US central bank's two-day policy meeting, scheduled on September 15-16.
10. 09 AM: Opening session outlook
Commenting on makets opening today, -Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said,'We are trading above the 11500 levels but I would still look out for the Nifty to trade in the 11550-11575 trading zone as that would signal that we are entering into a bullish zone. The support continues to be around the 11300 levels."
9. 51 AM: Market outlook
As per Reliance Research, NSE-NIFTY reversed from its 7-day high and breached daily rising trend. On the lower side, the index took support around its 20-day EMA and recovered intraday loss. As mentioned earlier, we believe the index will oscillate in the narrow range before a directional move, as its key technical indicators remained in neutral mode. On the higher side, the index will continue to face hurdle at 11,584 mark. However in case of decline, the index will find support at 11,111 and 10,790 levels, which coincides with its recent swing low and its 200-day SMA, respectively.
As for the day, support is placed at around 11,347 and then at 11,272 levels, while resistance is observed at 11,532 and then at 11,643 levels.
9. 48 AM: Coronavirus toll
Worldwide, there were 294.42 lakh confirmed cases and 9.32 lakh deaths from COVID-19 outbreak. Meanwhile, India's death toll from COVID-19 infections rose to 80,808 and total coronavirus cases to 49.26 lakh as of Tuesday.
9. 34 AM: India's retail inflation
India's retail inflation for the month of August stood at 6.69%, data released by the National Statistical Office (NSO) on Monday showed. The consumer price index (CPI)-based inflation rate for July has been revised to 6.73% from 6.93%.
9. 24 AM: Global Markets
Overseas, Asian stocks are trading mostly higher today as investors weer bouyed from key economic data from China like retail sales and industrial production. In Wall Street, stocks ended sharply higher on Monday as signs of progress in developing a COVID-19 vaccine and lifted Tech sentiments.
9. 18 AM: Opening session
On Tesday's opening session, Sensex traded 160 points higher at 38,917 and Nifty gained 42 points to 11,482.
9.10AM: FII action
Foreign portfolio investors (FPIs) bought shares worth Rs 298.22 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 120.35 crore in the Indian equity market on 14 September, provisional data showed.
9.00 AM: Stocks to watch today on September 15
PVR, SAIL, Future Retail, HDFC, Voltas among others are the top stocks to watch out for in Tuesday's trading session.
Stocks in news: PVR, SAIL, Future Retail, HDFC, Voltas
8. 50 AM: Nifty outlook
On Nifty's technicals, Sameet Chavan (Chief Analyst-Technical and Derivatives, Angel Broking said,"As far as levels are concerned, 11550-11650 are likely to act as immediate hurdles; whereas on the lower side, 11350-11200 would be seen as a key support zone."
8. 40 AM: Rupee closing
On the currency front, Indian rupee pared early gains and settled 5 paise higher at 73.48 per dollar, tracking muted trend from domestic equities.
8. 30 AM:Closing yesterday
Sensex, Nifty Highlights on September 14: Benchmark indices Sensex and Nifty turned bearish by the afternoon session on Monday and closed lower, tracking mixed cues from European and Asian markets. Sensex fell 97 points to 39,756 and Nifty ended 43 points lower at 11,421.
Sensex ends 97 points lower, Nifty at 11,421; Airtel, SBI, PowerGrid top losers