Sensex, Nifty LIVE Updates on October 13: After eight days of straight gains, domestic market indices opened on a volatile note on Tuesday, tracking muted cues from global equities. SGX Nifty on the Singapore Exchange was however, falling marginally, indicating volatile trend in domestic grounds today. Meanwhile, September quarterly earnings announcements by Wipro will also set the tone for the stock market today. Yesterday, Sensex ended 84 points to 40,593 and Nifty rose by 16 points to trade at 11,930
Here's a look at the updates of the market action on BSE and NSE today
9. 38 AM: Nifty outlook
As per Reliance Securities, NSE-NIFTY begun week on a flat note, wherein the index reversed after testing its psychological hurdle point of 12,000 mark amidst higher level profit booking. As mentioned earlier, our bullish view will remain intact, but near-term volatility or some consolidation cannot be ruled out as its key technical indicators on the near-term timeframe chart reversed from their overbought zone and overall market breadth too remained negative from last couple of days. In case of decline, the index will initially find support at 11,794 and then at 11,618 levels. A stable move above its psychological hurdle point will be positive for the index and that will take it towards its February months high of 12,247 level and then at the life-time-high of 12,431 mark.
As for the day, support is placed at around 11,858 and then at 11,785 levels, while resistance is observed at 12,013 and then at 12,095 levels.
9. 24 AM: Global markets
U.S. Senate Republicans said they will go along with what President Donald Trump wants in coronavirus relief legislation, a White House spokeswoman reportedly said on Monday.
Global resurgence in coronavirus cases kept gains checked after British Prime Minister Boris Johnson on Monday announced a new system of restrictions on parts of England. Lawmakers will vote on the move on Tuesday.
9. 12 AM: Stocks to watch today on October 13
RIL, Wipro, Godrej Properties, Infosys, Cipla, Lakshmi Vilas Bank among others are the top stocks to watch out for in Tuesday's trading session
Stocks in news: RIL, Wipro, Godrej Properties, Infosys, Cipla, Lakshmi Vilas Bank
9.01 AM: Market update
Global equities were buoyed today as hopes of Washington delivering a coronavirus relief package soon helped lift investors sentiments. However, SGX Nifty was falling 40 points, indicating a volatile trend in domestic grounds today.
8. 55 AM: Nifty outlook
On markets closing-Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments said, "Nifty took a breather after crossing the psychological 12000 mark. This does not change anything in the short to medium-term time frame. The markets continue to show a bullish indication and are aptly positioned to achieve the levels of 12200-12300. With good support at 11750-11800, any correction can be utilised to go long on the index."
Ajit Mishra, VP - Research, Religare Broking said,"We believe, along with global cues, earnings announcements and macroeconomic data would dictate the market trend. Further, measures announced by FM to help revive the economy as well as spur demand would augur well for major sectors such as FMCG, Auto, Capital Goods, Banking etc. ahead. Amid all, we expect volatility to remain high thus traders should maintain extra caution in trade selection and risk management."
8. 50 AM: FII action
Foreign portfolio investors (FPIs) bought shares worth Rs 615.17 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,028.77 crore in the Indian equity market on 12 October, provisional data showed.
8. 40 AM: Rupee closing on Monday
On the currency front, the rupee snapped its three-session winning run and slipped 12 paise to settle at 73.28 against the US dollar on Monday.
8. 30 AM: Closing on Monday
Domestic market indices managed to end marginally higher after giving up early gains as investors awaited key economic data release. Extending gains for the eighth straight day, Sensex ended 84 points to 40,593 and Nifty rose by 16 points to trade at 11,930.