Sensex slips 732 pts from day's high, ends 181 pts lower; RIL, L&T weigh

CLOSING BELL ON AUGUST 24, 2023: The Nifty tumbled over 200 pts in intra-day deals, and ended with a loss of 57 points. IndusInd Bank, Asian Paints and Infosys, however, gained over a per cent each.

4:16 PM

Tech View :: Nifty Bank will touch 45,000 once it breaches this level

The Bank Nifty index recently encountered selling pressure from elevated levels and is now displaying indications of range-bound trading. The range of movement seems to be established between 44,000 and 45,000, a zone where substantial put and call writing activities are evident.

In the current scenario, the index's immediate support lies at 44,200. If this support level is effectively maintained, the index could potentially experience a recovery, driving it towards levels of 44,800 and 45,000.

Views by: Kunal Shah, Senior Technical & Derivative analyst at LKP Securities

 

4:12 PM

Comment :: 'Bears in no mood to lose control'

The move indicates that bears are not in the mood to lose their control and tone may deteriorate again on the break of 50 EMA i.e. around 19,285. We have been maintaining a view stance to focus on stock selection amid choppiness and it is working well so far. Traders should avoid aggressive positions and prefer hedged trades until we see some clarity over the next directional move.

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

4:09 PM

Comment :: Where are gold prices headed?

Given the ongoing trend of global central banks acquiring gold and the uncertain global economic landscape, gold prices are anticipated to remain steady, if not rise significantly due to the impact of a stronger dollar and elevated interest rates.

However, the trajectory could swiftly change. The moment the Federal Reserve hints at a potential pause in its rate hikes or even the possibility of an interest rate cut, gold prices are likely to surge.

 

Taking these factors into account, investors can reasonably project an optimistic outlook for gold, foreseeing price levels in the range of 61,000 to 62,000 by the close of the year.

For investors seeking to accumulate gold, a strategic entry point lies between the current levels of 58,500 and 57,000.

Views by: Jateen Trivedi, VP Research analyst at LKP Securities

4:06 PM

Tech View :: A drop below this level will lead to panic selling in Nifty

On the upper side, resistance is expected to persist in the range of 19,450-19,500. A definitive breakout or a closing above 19,500 could potentially trigger a rally in the index. On the lower side, there is immediate support at 19,300; a drop below this level might lead to panic in the market.

Views by: Rupak De, Senior Technical analyst at LKP Securities

4:03 PM

Comment :: What all happened in the markets today?

The US market exhibited a positive trend as declining US PMI ignited hopes of a prolonged rate pause, calming US bond yields. Optimism in the domestic market was more visible in the IT sector, though sentiments were reversed in other major sectors, likely influenced by the prevailing global uncertainties. Despite this, mid- and small-cap stocks demonstrated resilience, and the decline in bond yields facilitated a resurgence in foreign investor buying momentum.

Views by: Vinod Nair, Head of Research at Geojit Financial Services

3:59 PM

Global markets :: US index futures mixed ahead of Jackson Hole Symposium

3:55 PM

Bond Market :: Yields on 10-year G-Sec end flat ahead of release of RBI MPC minutes

3:54 PM

Currency check :: Rupee ends 12 paise stronger

3:52 PM

Buzzing stock :: Bernstein initiates coverage on Paytm; stock ends with negative bias

3:51 PM

Buzzing stock :: GMR Airports soar 9% on heavy volumes, earnings visibility

3:48 PM

Buzzing stock :: Chandrayaan's parts' provider Centum Electronics ends off highs

3:47 PM

Buzzing stock :: Max Financial third counter to see block deal today

3:45 PM

Buzzing stock :: Manappuram Finance slips 2.6% after block deal

3:44 PM

Buzzing stock :: Coforge zooms over 9% after 25% equity changes hands

>> Baring PE likely sold its entire stake via block deal

3:42 PM

Broader market indices end mixed; Mid, SmallCap indices eke out gains

3:41 PM

Sector check :: FMCG stocks rise in a weak market

3:40 PM

Sector check :: Nifty IT ends higher lifted by mid-cap stocks

3:38 PM

Sectoral trends :: IT, FMCG indices outperform benchmarks

3:36 PM

Nifty Gainers :: BPCL, Asian Paints shine as crude oil prices ease

3:35 PM

Nifty Losers :: Jio Fin, Divis Lab, ONGC weigh on the index

3:34 PM

Sensex Heatmap :: RIL, PowerGrid, L&T, IT stocks bring index off highs

3:33 PM

CLOSING BELL :: Nifty ends below 19,400 after topping 19,500 intraday

3:32 PM

CLOSING BELL :: Sensex settles near day's low

3:19 PM

Global Check:: US, UK stock futures exhibit mixed trend

Source: Investing.com

3:10 PM

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3:00 PM

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2:49 PM

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2:37 PM

Nearly two dozen companies face action for lapses in listing regulations

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2:28 PM

Tata Power, Zoomcar join hands to push electric vehicle adoption in India

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2:18 PM

Paytm hits 52-week high as Bernstein initiates coverage; pares gains later

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