Sensex ends flat amid range-bound trade; Broader mkt, new-age shares rally

CLOSING BELL ON AUGUST 22, 2023: BSE MidCap and SmallCap indices rallied up to 0.9 per cent, while the NSE Nifty 50 ended with a notional gain of 3 points at 19,396.

4:16 PM

Tech View :: 'Continue to maintain negative outlook on Nifty'

Nifty50
On the daily charts, we can observe that the Nifty has not been able to surpass the resistance trend line and has been successful restricting the rise. On the downside, the 40-day moving average (19,362) is acting as a crucial support level and absorbing all the selling pressure. Thus, the Nifty is stuck in between a range, and until the Nifty trades below the 19,450 – 19,500 zone, we can expect the selling pressure to persist.

On the downside, we expect the Nifty to target levels of 19,100. Crucial support is placed at 19,250 – 19,200 while immediate hurdle is placed at 19,480 – 19,500.

 

Nifty Bank

Bank Nifty has tried to sustain above 44,000; however as the day progressed, it witnessed selling pressure and closed marginally in the red. The pullback towards key hourly moving averages, placed in the range 44,000 – 44,100, is providing a stiff resistance. Unless the Bank Nifty manages to sustain above the resistance zone, we can expect the selling pressure to continue. On the downside, the Nifty Bank Nifty can slip towards 43,500 from short term perspective. 

Views by: Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas

4:13 PM

Comment :: 'Recent rebound a counter move in overall correction'

We see the recent rebound as a counter move within the corrective trend as Nifty has multiple hurdles to cross to change the tone. Meanwhile, a mixed trend across sectors is offering opportunities on both sides. Participants should align their trades accordingly while keeping a check on position size.

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

4:10 PM

ALERT :: BSE says Jio Financial will be removed from all the S&P BSE indices on Tuesday, August 29

>> Additionally, should JFSL not hit the lower circuit limit on either of the next 2 days, but hits the lower circuit limit on the 3rd day, the removal of JFSL from all the S&P BSE Indices will be deferred by another 3 days.

4:06 PM

Currency :: Rupee ends at 82.94/$ against Monday’s close of 83.11/$

4:05 PM

Broader markets gain; Mid, SmallCap indices rise nearly 1% each

3:59 PM

Market Check :: Top losers on the BSE today

3:58 PM

Market Check :: Top gainers on the BSE today

3:56 PM

Buzzing stock :: Mahindra Lifespace hits 52-week high on strong growth outlook

The company reported residential pre-sales of Rs 345 crore and Industrial land leasing at Rs 14 crore for Q1FY24. The new CEO Amit Sinha has outlined ambitious business growth of 5x over the next 5 years from around Rs 2,268 crore of residential and IC business sales to Rs 8,000-10,000 crore by FY28. READ MORE

3:53 PM

Buzzing stock :: Eveready Industries soars 12% on heavy volumes

So far in FY24 the stock has galloped nearly 43 per cent as against a 12 per cent jump in the benchmark index. READ MORE

3:51 PM

Buzzing stock :: BHEL zooms over 10%, hits 52-week high on Rs 4,000-cr order win

BHEL in an exchange filing said, the orders is for supply of equipment (boiler, turbine, generator) and supervision of Erection & Commissioning for 2x800 MW power project based on supercritical technology at Bandhaura, Madhya Pradesh. Boiler and Turbine Generator are to be manufactured at BHEL’s Trichy and Haridwar plants respectively, the company said. READ MORE

3:49 PM

Buzzing stock :: Jio Financial freezes at 5% lower circuit for second day

3:47 PM

Sector check :: 12 of 20 pharma index stocks settle lower

3:46 PM

Sector check :: Nifty PSU Bank index falls the most dragged by UBI, PSB

3:43 PM

Sector check :: FMCG stocks with up to 3.3% gains in a musted market

3:41 PM

Sector check :: Nifty Metal index clocks the highest gain of the day

3:39 PM

Sector check :: Bank, IT indices end in the negative zone

3:38 PM

Sensex Heatmap :: Jio Fin, financials erase gains on the index

3:35 PM

CLOSING BELL :: Nifty ends below 19,400

3:33 PM

CLOSING BELL :: Sensex ends flat after range-bound session

3:20 PM

Global Check:: UK stock futures rally over 1%; US gain up to 0.5%

Source: Investing.com

3:12 PM

ALERT:: Concord Biotech gets EIR post USFDA inspection; stock up 4%

Concord Biotech in an exchange filing said that post the United States Food and Drug Administration (USFDA) inspection at its manufacturing unit in Gujarat, the company has received the Establishment Inspection Report (EIR) indicating closure of inspection and classifying the facility as 'no action indicated'.

3:02 PM

Decoding ITRs: Average middle-class income can rise to Rs 50 lakh by 2047

25 percent of the ITR filers are expected to leave the lowest income strata (annual income of up to Rs 5 lakh) by FY47. READ MORE

2:51 PM

ALERT:: Piramal Pharma board approves Rs 1,050 cr rights issue; stock flat

Pirmal Pharma board approved issue of 12.96 crore equity shares on rights basis at Rs 81 per share.

2:41 PM

Jupiter Hospitals raises Rs 123 cr in pre -IPO round; gets Sebi's nod

In addition, the company has received capital markets regulator Sebi's go-ahead to raise funds through its IPO. READ MORE

2:31 PM

Fintech loan disbursement rose 21% YoY in FY23: FACE-Equifax report

The average ticket size of digital loans declined by 19 per cent to Rs 12,989 in FY23 from Rs 16,026 in FY22. The average ticket size was Rs 27,088 in FY21. READ MORE

2:20 PM

Analysts turn cautious on Asian markets; India remains an outlier

Indian markets, analysts believe, are an outlier and can still justify expensive valuations amid a likely recovery in corporate earnings going ahead. READ MORE

2:09 PM

Economy likely to expand by around RBI's projection of 8% in Q1, FY24

Economic growth could be quite close to eight per cent during the first quarter of the current financial year, as projected by the Reserve Bank of India's monetary policy committee (MPC). The gross domestic product (GDP) growth stood at 13.1 per cent in the first quarter and 6.1 per cent in the fourth quarter of the previous year. READ MORE

1:59 PM

ALERT:: NCLT approves Ramkrishna Forgings acquisition of JMT Auto; stock up 1%

The NCLT has approved Ramkrishna Forgings resolution plan to acquire JMT Auto

1:46 PM

July Russian oil imports dip; Saudi import down to 2-1/2-yr low: Trade data

India's overall imports also declined 5.2% from June to 4.4 million bpd oil in July, the data showed, as several refining plants are shut for maintenance during monsoon season. READ MORE

1:35 PM

Life Insurance Corp picks up 6.66% stake in Jio Financial Services

Life Insurance Corporation of India (LIC) has picked up a 6.66 per cent stake in newly listed Jio Financial Services Ltd. READ MORE