Share Market News Today Updates, 26 September 2022: Trends on SGX Nifty indicated a lower opening for the domestic markets. Indian equity benchmarks on Monday plunged sharply, extending their fall for the fourth straight session, tracking a weaker trend in the Asian markets amid global growth fears. Asian stocks were mostly trading lower amid renewed worries over economic growth on the back of high-interest rate environment.
Last week, the United States and half a dozen other countries raised interest rates, signalling that they would continue to raise borrowing costs to fight inflation. The Reserve Bank of India (RBI) would deliver its monetary policy decision later in the week.
The benchmark BSE Sensex had crashed 1,021 points or 1.73 per cent to close at 58,099 on Friday, while the broader NSE Nifty had moved 302 points or 1.72 per cent lower to settle at 17,327.
Here are the share market Live Updates:
Sensex dives 986 points or 1.70 per cent to trade at 57,113, Nifty moves 320 points or 1.84 per cent down to trade at 17,008
Sensex plunges 728 points or 1.25 per cent to trade at 57,371, Nifty moves 235 points or 1.35 per cent to trade at 17,093
Sensex falls 509 points or 0.88 per cent to trade at 57,590, Nifty moves 170 points or 0.98 per cent lower to trade at 17,157
Sub-index Nifty IT was trading 1.05 per cent higher at 26,870.85
Sensex tanks 732 points or 1.26 per cent to trade at 57,367, Nifty moves 249 points or 1.44 per cent down to trade at 17,078
Brokerage Ventura Securities is positive on a couple of Gautam Adani-led Adani group firms with an upside of up to 80 per cent in the next 24 months. Shares of the company have already been buzzing on Dalal Street due to multibagger returns in the past three years. (Read more)
Shares of Tata Motors slipped over 7 per cent today in line with broader markets amid negative global cues. Bank of England saying last week that Britain's economy was now in recession, weakened sentiment around the Tata Motors stock today. (Read more)
Sensex crashes 1,035 points or 1.78 per cent to trade at 57,064, Nifty moves 346 points or 2 per cent down to trade at 16,981
Sensex slumps 920 points or 1.58 per cent to trade at 57,179, Nifty moves 309 points or 1.78 per cent to trade at 17,018
Shares of Mahindra & Mahindra Financial Services were down as much as 7.66 per cent to trade at Rs 179.55.
Shares of Harsha Engineers International made a stellar debut today, listing at 36.36 per cent premium to their IPO issue price. The company listed at Rs 450 (up 36.36 per cent) on the NSE against the IPO issue price of Rs 330. Market cap of the firm rose to Rs 4,097 crore. Total 24.56 lakh shares of the firm changed hands amounting to a turnover of Rs 110.55 crore on the NSE. (Read more)
"On the technical front, Nifty ended the week on a negative note extended losses for the second consecutive week in a row, on the daily time frame it ended with a long bearish candle which sums up to a possible reversal in the market. However, on an overall basis, the market continues to remain consolidative amidst the broader range of 16,900-18,000 and one needs to recall that secondary corrections are a part of the bull market. Presently a trader needs to show patience and need to avoid trading aggressively in the market as the risk of a bare minimum correction of 38.2 per cent of the entire rally from 15,183 to 18,096 comes around 16,990 followed by a 50 per cent correction at 16,650 remains. During the day index is likely to open with a gap down, tracking weak global cues. Formation of lower high-lower low signifies corrective bias. Hence, use intraday pullback towards 17,400-17,500 for creating a short position for the target of 16,900," said Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking Ltd.
Shares of Tata Chemicals fell as much as 7.37 per cent to trade at Rs 1,050.60.
"The pull from 17,000 has become irresistible now. That it coincides with the 200-day SMA makes it all the more compelling for Nifty to pay a visit, now that Friday closed just 1.7 per cent away from it. Even more so, because the 38.2 per cent fibo of the June-September move is also at the same level. Ideally, a breach of 17,000, will bring 16,000 into the picture, with interim support seen at 16,650. Meanwhile, given that a sharp drawdown is already in place, we will watch the ability of 17,166, the recent reaction low, to let bulls regroup early in the day and aim for a recovery push and 17,430," said Anand James, Chief Market Strategist at Geojit Financial Services.
Sensex plunges 831 points or 1.43 per cent to trade at 57,268, Nifty moves 270 points or 1.56 per cent down to trade at 17,058
The overall market breadth was weak as 544 shares were seen advancing and 2,243 were declining on BSE.
PowerGrid, IndusInd Bank, Hindalco, Tata Motors and M&M were among the top laggards on the NSE platform today with their shares down as much as 5.06 per cent. In contrast, Hindustan Unilever, Nestle India and Britannia Industries were among the top gainers.
Mid- and small-cap shares were weak as Nifty Midcap 100 fell 1.90 per cent and small-cap dived 2.14 per cent.
Sensex dives 511 points or 0.88 per cent to trade at 57,510, Nifty moves 153 points or 0.88 per cent down to trade at 17,174
Sensex crashes 1,021 points or 1.73 per cent to trade at 58,099 in pre-opening trade
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