Banks, Metals, Capital Goods lift Sensex 213 pts; Adani Group shares slip

CLOSING BELL ON AUGUST 23, 2023: The NSE Nifty 50 ended with a gain of 48 points; Shares related to Chandrayaan-3 mission were also in demand on Wednesday.

4:01 PM

Tech View :: 'Wednesday's rally in Nifty Bank to fizzle out'

Nifty50
On the daily charts, we can observe that the Nifty is trading exactly around the falling resistance trend line. Considering the number of touchpoints on this trend line increases the importance of this trend line, and should be closely watched out for. On the upside, there is multiple resistance in the form of the 20-day moving average (19,529) which shall restrict the up move. The daily momentum indicator has a negative crossover, and this rise could fizzle out. Overall, we shall continue to maintain our negative outlook on the index though a pullback is likely over the next few trading sessions. Crucial support is placed at 19,370 – 19,350 while Immediate hurdle is placed at 19,520 – 19,550.

 

Bank Nifty

Bank Nifty has witnessed a sharp pullback. On account of the rise, it is now very close to the 44,600 – 44,700 where resistance in the form of the 20 and 40-day moving averages are placed which are likely to restrict a further sharp up-move. Bank Nifty is in a pullback mode which is also supported by the positive crossover on the daily momentum indicator.

Views by: Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas

3:59 PM

COMMENT :: What all happened in the markets today?

Global markets have restrained from making significant moves as they await the outcome of the central bankers' gathering at Jackson Hole scheduled for Friday. With the earnings season nearing its end, the heightened possibility of another rate hike in the US, along with the resultant increase in bond yields, are expected to keep the global market’s volatility high. On the domestic front, sentiments remained positive, backed by strong demand in the banking sector, though IT and pharma limited the gains.

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

3:58 PM

Tech View :: 'A break above 19,500 will trigger rally in Nifty'

The Nifty continues to trade within the broader range of 19,300 and 19,500. On the daily timeframe, the headline Nifty index has been fluctuating between the boundaries set by the 21-day Exponential Moving Average (EMA) at 19,471 and the 50-day EMA at 19,281.

Looking ahead, the Nifty is likely to maintain this range bound movement as long as it remains within these established thresholds. A significant breakthrough above the 19,500-mark could potentially trigger a rally towards higher levels.

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

3:55 PM

Currency check :: Rupee ends higher at 82.69/$ vs Tuesday's close of 82.94/$

3:53 PM

Broader market indices swim in sea of green; SmallCap index rise 0.6%

3:51 PM

Brightcom Group stays locked at 5% lower circuit despite issuing clarification to exchanges

>> Market regulator Securities and Exchange Board of India (Sebi) has discovered lapses in utilisation of proceeds raised from preferential issues.

>> Suren Kumar Reddy (CMD and promoter), and Chief Financial Officer Narayan Raju was restrained by Sebi from holding any directorial positions in the company until further notice.

>> Company says it is evaluating potential action courses to address this situation effectively, and is in consultation with legal experts

3:49 PM

TVS Supply Chain Solutions ends 2% higher over issue price

>> Stock debuted at Rs 206 on the BSE

Alert: Issue price was Rs 197

3:47 PM

Shipping Corporation surges 10% amid report of demerger nod

>> According to a report, the Centre has given its approval to emerge SCI and list the spin-off entity

3:45 PM

Chandrayaan-3 component makers reach for the moon ahead of historic landing

>> Centum Electronics zooms 15%, MTAR Tech 5%, Paras Defence 6%, L&T 1.4%

3:43 PM

Buzzing stock :: Jio Financial settles 5% down for 3rd straight day

3:42 PM

Sector check :: FMCG stocks continue to dip on inflation concerns

3:40 PM

Sector check :: NBFCs climb in-line with banking peers

3:39 PM

Sector check :: PSU banks shine in late deals; UCO Bank soars over 7%

3:38 PM

Sectoral trends :: Financials, Media stocks march ahead; FMCGs in red

3:36 PM

Sensex Heatmap :: Jio Fin ends at the bottom for third day; ICICI Bank, SBI recoup in fag-end

3:34 PM

CLOSING BELL :: Nifty reclaims 19,400

3:32 PM

CLOSING BELL :: Sensex zooms 200 pts amid buying in ICICI Bank, SBI

3:21 PM

Stock Alert:: Paytm surges nearly 5%

3:13 PM

India to reduce coal-based power; targets over 64% renewables by 2030

India has set the target of having 500GW of renewable energy by 2030. Coal-based power generation, however, ensures stable operation of the electricity transmission grid. READ MORE

3:03 PM

Market Check:: Sensex trades firmly nearly day's high, up 250 pts

2:54 PM

Global Check:: US, UK stock futures hold steady gains

Source: Investing.com

2:42 PM

Adani group EBITDA grows 42% in first quarter, reaches Rs 23,532 crore

All-time high EBITDA of Rs 23,532 crore in April-June was almost equal to the full-year FY19 (April 2018 to March 2019 fiscal year) EBITDA of Rs 24,780 crore. READ MORE

2:30 PM

Global carbon credits market expected to touch $250 bn by 2030, says expert

The global market for carbon credits is expected to witness an upward trend and touch the level of USD 250 billion by 2030, an industry executive said. READ MORE

2:21 PM

L&T, MTAR: Chandrayaan-3 component makers reach for the sky at the bourses

India is set to become the first country to land a spacecraft near the moon's south pole with Chandrayaan-3. READ MORE

2:11 PM

ALERT:: Euro Data Watch

>> August Manufacturing PMI falls to 43.7 vs estimate of 42.7

 

>> Services PMI fallst to 48.3 vs estimate of 50.5

 

Source: CNBC TV-18
 

2:03 PM

Shriram Properties, ASK Property Fund invest Rs 206 cr in a Chennai project

The project, Shriram 122 West is the second joint investment by the co-investment platform set up by ASK & Shriram in November 2022. READ MORE

1:53 PM

HAL gains 3% to cross Rs 4,000-mark; stock touches fresh lifetime high

Thus far in the calendar year, the stock price of HAL has appreciated nearly 60 per cent, as compared to 6.8 per cent rise in the S&P BSE Sensex. READ MORE

1:44 PM

'Duration funds less attractive, stable accrual debt funds better placed'

Bond yields in India have been under pressure since the last few days as yields globally have started moving up with US 10-year up by 15bps in last one week from 4.1% to 4.25% as expectation of one more rate hike by US Fed rate rises.  India 10-year yield is currently in the vicinity of 7.25%, up by around 5-7bps. READ MORE

1:32 PM

Market ALERT:: Bank Nifty at day's high; Bandhan, Federal Bank jump 3%

1:22 PM

Singapore's BOC signs financing pact for 10 Airbus aircraft with IndiGo

Singapore-headquartered BOC Aviation Limited and India's largest airline IndiGo have entered into a finance lease transaction involving 10 Airbus A320NEO aircraft to further expand its fleet, officials said on Wednesday. READ MORE