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Sensex Today | Stock Market LIVE Updates: Sensex, Nifty reverse opening losses, trade higher; HAL gains 2%, Adani Green tanks 8%
18 Mar, 2024 | 09:42:19 AM IST
Indian equity indices Sensex and Nifty traded flat on Monday as investors remained cautious at higher levels. M&M, RIL, TCS were the top gainers while private banks and Infosys were laggards. Mid & smallcap indices too traded on a lacklustre note.
Sectorally, only PSU Banks, Media and Auto traded higher, rest saw profit taking.
"With the Federal Reserve's decision looming on Wednesday, March 20th, market volatility is expected to intensify. Investor attention is also shifting towards the upcoming Lok Sabha polls, slated to commence on April 19 and conclude on June 4. Meanwhile, apprehensions loom over the SEBI-mandated Mutual Funds stress test results, indicating potential market stress. Intraday support for Nifty is at 21861, with major support at 21530, while immediate resistance stands at 22250. A cautious and nimble approach is advised amidst prevailing uncertainties," said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Sectorally, only PSU Banks, Media and Auto traded higher, rest saw profit taking.
"With the Federal Reserve's decision looming on Wednesday, March 20th, market volatility is expected to intensify. Investor attention is also shifting towards the upcoming Lok Sabha polls, slated to commence on April 19 and conclude on June 4. Meanwhile, apprehensions loom over the SEBI-mandated Mutual Funds stress test results, indicating potential market stress. Intraday support for Nifty is at 21861, with major support at 21530, while immediate resistance stands at 22250. A cautious and nimble approach is advised amidst prevailing uncertainties," said Prashanth Tapse, Senior VP (Research), Mehta Equities.
1 New Update
Sensex Today | Stock Market LIVE Updates: Multiple block deals in Tata Steel
Price as on 09:42:17 AM 09:42 AM, Click on company names for their live prices.
Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
The week ahead is likely to be highly volatile. Many events like the Fed meeting outcome on Wednesday, the spike in the US 10-year bond yield to 4.3% and the possible SEBI directives based on the stress tests in mid and small cap schemes will influence the market in the near-term. The Fed meeting outcome will be keenly watched even though the consensus is no rate action. If the Fed message has any slightly hawkish tone in response to the recent stubborn inflation trend, that would be negative for the mother market and consequently for other markets too. The spike in US 10-year bond yield to 4.3% is negative for foreign portfolio flows.
The concern regarding the elevated valuations in the mid and smallcaps continues despite the stability witnessed in these segments last Friday. Investors may adopt a wait and watch strategy and may buy largecaps in capital goods, banking, telecom and automobiles on dips.
The concern regarding the elevated valuations in the mid and smallcaps continues despite the stability witnessed in these segments last Friday. Investors may adopt a wait and watch strategy and may buy largecaps in capital goods, banking, telecom and automobiles on dips.
Sensex Today | Stock Market LIVE Updates: 9 of 10 Adani group stocks trade with cuts
Price as on 09:33:31 AM 09:33 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: Most active stocks on NSE
Price as on 09:20:09 AM 09:20 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates: 11 of 30 index stocks trade higher
Opening Bell: Sensex falls 150 points, Nifty below 22,000; HAL gains 2%, Adani Green tanks 8%
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex down 50 points; Nifty below 22,000
Sensex Today | Stock Market View: Prashanth Tapse, Senior VP (Research), Mehta Equities
Bears may seize control following a weak lead from Wall Street in Friday’s trading session, potentially triggering volatility in Nifty as bullish traders scale back amidst anticipation of an impending Fed rate cut. With the Federal Reserve's decision looming on Wednesday, March 20th, market volatility is expected to intensify. Investor attention is also shifting towards the upcoming Lok Sabha polls, slated to commence on April 19 and conclude on June 4. Meanwhile, apprehensions loom over the SEBI-mandated Mutual Funds stress test results, indicating potential market stress. According to the stress test outcomes, mid-cap funds may take approximately 6 days to liquidate 50% of their portfolios in a market collapse scenario, while small-cap funds may take about 14 days on average. Intraday support for Nifty is at 21861, with major support at 21530, while immediate resistance stands at 22250. A cautious and nimble approach is advised amidst prevailing uncertainties. The recommended trade strategy for Nifty suggests selling between the 22200-22250 zone with a stop at 22601, targeting 21900/21861, with aggressive targets at 21500-21550. Similarly, for Bank Nifty, selling between the 46800-47100 zone with a stop at 47837 is advised, targeting 46301/46100, with aggressive targets at 45661-45750.
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Gold struggled for momentum in early Asian hours on Monday as the dollar held firm and investors braced for a series of major central bank policy meetings including the U.S. Federal Reserve this week.
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The dollar was steady on Monday as traders looked ahead to a week dominated by central bank meetings worldwide, with the Bank of Japan seemingly on the brink of ending negative rates and the focus on how many rate cuts the Federal Reserve projects.
Sensex Today | Stock Market LIVE Updates: Tokyo shares open higher as yen slides
Tokyo shares opened higher Monday as investors cheered the yen's slide while the Bank of Japan prepared to start a two-day policy meeting. The benchmark Nikkei 225 index added 0.83 percent or 319.87 points to 39,027.51 in early trade, while the broader Topix index climbed 0.93 percent, or 24.93 points, to 2,695.73.
Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a negative start
GIFT Nifty on the NSE IX traded lower by 44 points, or 0.20 per cent, at 22,052.50, signaling that Dalal Street was headed for negative start on Monday.
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The rupee declined 2 paise to close at 82.86 against the US dollar on Friday, weighed down by unabated foreign fund outflows and a negative trend in domestic equities.
Sensex Today | Stock Market LIVE Updates: Tech View: Nifty momentum indicators blink red
Nifty on Friday ended 123 points lower to form a small negative candle on the daily charts and a bearish engulfing pattern on the weekly charts.
Sensex Today | Stock Market LIVE Updates: Wall Street drops with tech-related shares, investors assess rate outlook
U.S. stocks fell on Friday, led by technology-related megacaps that have propelled this year's rally, while investors weighed the interest rate outlook ahead of next week's Federal Reserve meeting.
Sensex Today | Stock Market LIVE Updates: Oil prices rise on tighter supply, geopolitical risks
Oil prices ticked up in early Asian trading on Monday, firming up gains from last week when prices rose nearly 4% on the view that supply was tightening. Brent crude oil futures for May delivery inched up 3 cents to $85.37 a barrel by 0045 GMT. The April contract for U.S. West Texas Intermediate (WTI) crude was up 10 cents to $81.14.
Sensex Today | Stock Market LIVE Updates: Sensex, Nifty on Friday
The 30-share BSE benchmark Sensex declined 454 points or 0.62% to settle at 72,643. The broader NSE Nifty dropped 123 points or 0.56% to end at 22,023.
