The Nifty Auto index was the top sectoral gainer, up over 1 per cent. Image: ReutersShare Market News Today | Sensex, Nifty, Share Prices LIVE: BSE Sensex and Nifty 50 ended in the negative territory on Tuesday. BSE Sensex fell 112 points or 0.19 per cent to end at 60,433, while Nifty settled 24 points or 0.13 per cent down at 18044. Mahindra & Mahindra (M&M), State Bank of India (SBI), Reliance Industries Ltd (RIL), ICICI Bank, IndusInd Bank, Bharti Airtel were top Sensex gainers. On the flip side, HDFC Bank, Housing Development Finance Corporation (HDFC), Titan Company, HCL Tech, ITC were among the top index draggers. Nifty Bank index was down 0.18 per cent, while Nifty Financial Services fell 0.7 per cent. The Nifty Auto index was the top sectoral gainer, up over 1 per cent.
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Highlights
BSE Sensex fell 112 points or 0.19 per cent to end at 60,433, while Nifty settled 24 points or 0.13 per cent down at 18044
The market witnessed some lackluster movement and an attempt to hold the level around the Nifty 50 Index level of 18000. The market suggests that sustaining above 18000 will be an important level for the market to stay positive in the short term. If the market is able to sustain the level of 18000, market can witness a positive momentum which can lead to higher levels near 18250. The momentum indicators like RSI and MACD indicating positive momentum in the market. Vijay Dhanotiya, Senior Research Analyst at CapitalVia Global Research
Brookfield India Real Estate Trust has declared Q2 financial year 2022 results. Income from Operating Lease Rentals remained stable at Rs 1.6 billion. The planned distribution of Rs 1.8 billion (Rs 6.00 per unit) this quarter, with 35% of distributions tax-free for unitholders
Indian equity benchmarks remained lower at noon session with both Sensex and Nifty trading in red terrain. The BSE Sensex 30 index currently trading around 60392. There were 13 stocks advancing against 17 stocks declining on the index. The CNX Nifty is currently trading around the level of 18030. There were 24 stocks advancing against 26 stocks declining on the Nifty index. On the sectoral front, Auto and PSU Banks indices up 0.8-1 percent. The broader indices were trading in green, the BSE Mid cap index was up by 0.95% while Small cap index was up by 0.77Domestic sentiment is also impacted by Crisil’s latest report stated that higher diesel prices will shave off the overall profitability of transporters despite an improvement in the freight rates. Our research suggests that 60000-60200 levels will act as immediate support level. We can expect the market to trade in the range of 60000-60700. Gaurav Garg, Head of Research, Capitalvia Global Research
Nykaa, owned by FSN E-Commerce Ventures Ltd, whose IPO got 81.78 times subscription, is scheduled to make its stock market debut on Wednesday, 10 November 2021. The IPO received a stellar response from both institutional as well as retail investors. In the primary market, Nykaa shares were quoting at a premium of 68 per cent over the issue price of Rs 1,125 per share, according to the people who deal in unlisted shares of the companies. Nykaa has a diverse portfolio of beauty, personnel care, and fashion products including its owned manufactured brand products under its two business verticals, Nykaa and Nykaa Fashion.
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India’s biggest-ever public issue, Paytm IPO received a 35 per cent application on day two of the bidding process. The issue received bids for 1.70 crore equity shares against an offer size of 4.83 crore shares so far on the first day of bidding. The portion reserved for retail investors saw 1.03 times subscription, while the reserved portion of non-institutional investors was subscribed just 3 per cent, and qualified institutional buyers have put in bids for 76.70 lakh shares against 2.63 crore shares reserved for them. Their portion was subscribed 30 per cent.
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KFC and Pizza Hut operator Sapphire Foods India’s IPO opened for subscription on Tuesday, in a price band of Rs 1,120-1,180 per share. In the primary market, Sapphire Foods shares were trading at premium. On Tuesday, Sapphire Foods shares were ruling at Rs 1,305, up Rs 125 or 10.6 per cent over the issue price, in the grey market, according to the people who deal in unlisted shares of the companies. Sapphire Foods is one of YUM’s franchisee operators in the Indian subcontinent.
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Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India remained unchanged on Tuesday, on the back of flat global rates. On Multi Commodity Exchange, gold December futures were trading weak at Rs 48,009 per 10 gram, while silver December futures were ruling at Rs 64,774 per kg, down Rs 107. Globally, yellow metal prices remained steady, consolidating near a two-month high scaled in the previous session, as a weak dollar offset firm U.S. bond yields. Spot gold was little changed at $1,823.53 per ounce. US gold futures fell 0.1% to $1,825.80.
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The return of foreign capital into India's bucket and a broad dollar weakness post a dovish Fed has remained supportive of the rupee. In the past sessions, the rupee majorly appreciated on back of inflow on account of Paytm’s IPO for Rs 18000cr. The flow story to continue with Sapphire food IPO Rs 2000cr, Latent View Analytics Rs 600 cr, and Route Mobile QIP of Rs 1000cr likely to hit markets. That apart, better PMI numbers of manufacturing and service activities indicate economic conditions are improving despite lingering concerns over oil prices, thereby boosting the positive sentiments. Technically, the pair gains strong support near 73.80 levels. However, on the back of IMF's suggestion of lower interventions to India's Central bank, it will be watchful if RBI jumps in or let the rupee flow through the market. Till the pair holds above 73.80 levels, we might see a rupee in a range of 73.80-74.50 levels. Amit Pabari, managing director, CR Forex Advisors
The index has opened on a positive note: it is keeping well above the 18000 resistance. If we can sustain this for today, buy signals would allow the Nifty to scale higher to 18400 and then to 18600. A good base formation has taken place at 17600 and until that is not disrespected, we are in positive territory. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Power Grid Corporation of India, Nestle India, HDFC Bank, Housing Development Finance Corporation (HDFC), Asian Paints, UltraTech Cement, Titan were top index losers
M&M, IndusInd Bank, Larsen & Toubro, Sun Pharma, Bajaj-Auto, Tata Steel, Tech Mahindra, Tata Consultancy Services were top Sensex gainers
BSE Sensex turned green, after opening in red on Tuesday. BSE Sensex was trading 45 points up at 60,590. While NSE Nifty was nearing 18100
Nifty futures added fresh long positions while Bank Nifty shed OI indicating short-covering plus exit of weak hands. The fortress of 18,000 Call writers was challenged and 18200 now has meaningful OI. Good Put writing was seen at 17900 and 18000 strikes. Rahul Sharma, JM Financial Services
Comex gold is trading at its resistance level of $1830 where it has support at $1815. Gold and Silver prices remained firm due dovish outlook of the FED. US infrastructure bill has increased the expectation of more spending which may boost inflation. On the other hand, FED intact its previous outlook on bond tapering and interest rate hikes which supported the Gold and Silver prices. The dollar index was also unable to sustain above 94.50 levels and it slipped 0.30% yesterday. In MCX, Gold has resistance at 48300 above this level it may test 48600-48800 levels. It has support at 47300. Abhishek Chauhan, Head of Commodity & Currency, Swastika Investmart
Nifty is expected to open flat around yesterday's close at 18070. Yesterday Nifty closed around its 20 periods moving average. Any closing above 18100 with higher volumes may take Nifty to 18250 levels. 18050 to 18100 may act as a resistance zone while 17950 and 17800 will act as support levels. Gaurav Udani, CEO & Founder, ThincRedBlu Securities
On the technical front, 39350 and 40,000 are near-term support and resistance respectively for Bank Nifty. 39700 would be the next intraday breakout level for the day traders and above this level, the uptrend momentum will continue up to 40,000-40,100. More strength in the index can be expected only on a close above 40100 levels. If prices continue to sustain above 40100-40050, a bullish trend may resume soon towards 42000 followed by 42500. Aprajita Saxena, Research Analyst at Trustline Securities
If Nifty is able to sustain above 18,000-18050 levels the Index can move towards 18250-18400. On the upside, 18,600 will be the level to watch in the coming week. If the prices breach above this level, the index can move towards the 18,850-19,000 mark. The momentum indicators like RSI and MACD are also indicating positive momentum in the market. Aprajita Saxena, Research Analyst at Trustline Securities
The short term trend of Nifty is positive. Upside breakout of the current range at 18060-18100 levels could open further upside towards the next resistance of 18250-18350 levels in the next few sessions. Immediate support is placed at 17850. Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities
Nifty advanced for the second straight day with higher volumes and a positive advance-decline ratio. A move above 18115-18125 band could lead to more upsides while 17947-17970 is a support band for the Nifty in the near term. Deepak Jasani, Head of Retail Research, HDFC Securities
Nifty futures turned red in early trade, falling 12.50 points to 18,125 on Singaporean Exchange, suggesting a weak start for BSE Sensex and Nifty 50. Investors will watch Q2 earnings, foreign fund inflows, oil prices, rupee movement, and other global cues. Analysts say that markets will take direction from a number of macro events due this week including U.S. inflation data and the U.K. GDP data apart from various Federal Reserve speeches.
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The benchmark indices staged a sharp recovery on Monday, led by advances in technology, automobile and financial stocks. The Sensex jumped 477.99 points to close at 60,545.61, while the Nifty added 151.75 points to 18,068.55. However, the Bank Nifty dragged the markets amid selling pressure in the private banking counters. The index closed 135.45 points or 0.34% lower at 39,438.25. The market’s fear gauge, Volatility Index India (VIX), rose 3.75% to 16.34.
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India’s biggest-ever public issue, Paytm IPO, which opened for subscription, received an 18 per cent application on day one of the bidding process. The issue received bids for 85.81 lakh equity shares against an offer size of 4.83 crore shares so far on the first day of bidding. The portion reserved for retail investors saw 73 per cent subscription, while the reserved portion of non-institutional investors was subscribed just 2 per cent, and qualified institutional buyers have put in bids for 16.78 lakh shares against 2.63 crore shares reserved for them. Their portion was subscribed 6 per cent.
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In overnight trade on Wall Street, the Dow Jones Industrial Average rose 104.27 points, or 0.29%, to 36,432.22, the S&P 500 gained 4.17 points, or 0.09%, to 4,701.7 and the Nasdaq Composite added 10.77 points, or 0.07%, to 15,982.36.
Asian peers were seen trading in green, following overnight gains on Wall Street that took the major indexes to record closing highs. Japan’s broader Nikkei 225 gained 0.13% while the Topix index traded in the red. Hong Kong’s Hang Seng index traded 0.63% higher. South Korea’s Kospi shed 0.2%. In Australia, the S&P/ASX 200 fell 0.17%