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Sensex ends lacklustre session 29 points down; broader indices outperform

Top Nifty gainers included Kotak Mahindra Bank, Powergrid, Grasim and BPCL, among others

SI Reporter New Delhi
Stocks, Stock markets

2 min read Last Updated : Sep 08 2021 | 4:24 PM IST
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4:24 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Domestic market opened on a flattish note while the cautious trend in the global market forced Indian equities to trade lower amid lingering concerns over rising covid cases and slowing economic recovery. However, supported by a recovery in broader markets the key indices ended on a flat note. The cabinet’s approval of the PLI scheme for man-made fibres and technical textiles will help in improving the industry's outlook. 

4:20 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index closed flat for the third consecutive day at 17353 and formed a dragonfly doji candle pattern on the daily chart which represents indecision in the markets.  Nifty is unable to cross above its immediate swing high which is around 17440 so it will act as immediate & strong resistance for nifty followed by 17500 zone any break above mentioned resistance index may see good traction and can inch towards 18k mark, immediate support is still placed at 17300-17250 zone traders can use this as there trailing stop out levels. 

4:19 PM

MARKET VIEW | S Ranganathan, Head of Research at LKP securities

In a volatile session of trade today the Bulls managed to stage a smart comeback led by the pace of vaccinations and accumulation witnessed in Kotak Bank. The broader markets witnessed interest in Textile stocks on the back of the PLI scheme announced today. The late afternoon session saw Advances gain ground over Declines as several Midcaps were seen buzzing around. 

4:17 PM

CLOSING COMMENTS :: Binod Modi, Head Strategy at Reliance Securities

Domestic bourses witnessed modest contraction today mainly led by profit booking in IT and Auto stocks. Further, weak cues from global equities also weighed on investors’ sentiment. Barring financials most key sectoral indices traded in a red zone today. Notably, textile stocks were in focus today as government approved PLI scheme worth Rs 107 bn for the sector. Additionally, buying was seen in midcap and smallcap stocks as recent contraction in this space made risk reward proposition favourable for number of stocks. Kotak Bank, Grasim, Powergrid and BPCL were among top Nifty gainers, while Divi’s Lab, Nestle, Wipro and Maruti were laggards.

4:14 PM

Telecom stocks end in the red; Vodafone Idea slips 15% from day's high

>> Union cabinet on Wednesday did not take up the proposals for providing financial relief to India's debt-laden telecom sector, a government source said.
 
The cabinet was widely expected to take a decision on a so-called relief package for the telecoms industry, which would have helped all wireless carriers but especially the embattled Vodafone Idea.
 

4:12 PM

Sun Pharma rose after it announced foray into nutrition bar segment with launch of Revital NXT

4:04 PM

Info Edge hit record high on healthy outlook and likely Policybazaar IPO

4:02 PM

Textile stocks end higher following govt's PLI scheme announcement

3:52 PM

Broader markets outperform benchmarks; Nifty Midcap 100 ends 0.5% higher

3:48 PM

SECTOR WATCH :: Nifty Bank, private and PSU were top gainers; Nifty IT, media, auto ended lower

3:43 PM

Sensex Heatmap | Top gainers & losers at close

>> Top gainers: Kotak Mahindra Bank, NTPC, Titan, Sun Pharma
 
>> Top losers: Nestle, Maruti Suzuki, Bajaj Finserv, Bajaj Auto

3:39 PM

CLOSING BELL :: Sensex ends lacklustre session 29 points down; broader indices outperform

The domestic benchmark indices largely flat in a volatile trading session today. The 30-pack Sensex closed the day at 58,250, down 29 points and the NSE Nifty settled just 8.6 points or 0.1% lower at 17,354 level as stock-specific movement stopped the benchmarks from falling into the negative territory. Top gainers on the benchmark indices included Kotak Mahindra Bank, Powergrid, Grasim and BPCL, among others. Broader markets, however, continued to rally after a one-day hiatus. BSE Midcap and BSE Smallcap were up 0.8 per cent and 0.6 per cent each.

3:19 PM

Equity MFs attract Rs 8,666 cr in August; flexi-cap biggest contributor

Equity mutual funds attracted a little over Rs 8,666 crore in August, making it the sixth consecutive monthly net inflow, on staggering investment in flexi-cap category.
 
In comparison, such funds witnessed a net inflow on Rs 22,583 crore in July on huge investments in flexi-cap category, data from the Association of Mutual Funds in India showed on Wednesday. READ MORE

3:07 PM

ALERT :: JSPL repays $105.6 mn loan in its Australian facility

Source: TV Reports

3:05 PM

Oyo in talks with investment banks for managing its $1.5-bn IPO

Travel technology firm Oyo is said to have initiated discussion with investment banks like JP Morgan, Citi and Kotak Mahindra Capital to manage its $1.5 billion public issue, expected to raise between $1.2-1.5 billion at a valuation range of $14 to 16 billion, sources close to the development said. READ MORE
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Topics :SEBIMARKET LIVEMarketsS&P BSE SensexNSE NiftySGX NiftyMidcap smallcap stocksWall StreetGlobal MarketsAsian marketsTelecom sector reliefCabinet meetingPLI schemeFII flowsDIIsNewsTextile sectorCrude Oil Price

First Published: Sep 08 2021 | 8:16 AM IST

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