Sensex, Nifty end lower dragged by HDFC Bank, RIL; PSU Bank index jumps 3%

Closing Bell on Monday, September 18: The S&P BSE Sensex fell 242 points to 67,597 levels, while the Nifty50 ended below the 20,150-mark at 20,133, lower by 59 points

4:03 PM

Tech View :: Key levels on Nifty, Bank Nifty to watch out

Nifty50
The Nifty index has been consolidating within a broad range, with notable call writing activity observed at higher levels. This suggests that market participants are cautious and have been selling call options to hedge against potential downward movements. The sideways trend in the index is expected to persist in the upcoming trading sessions. The index has support at the 20,100 level and resistance at 20,200. A break on either side of this range is likely to lead to trending moves.

 

Bank Nifty

The Bank Nifty index experienced profit booking at higher levels and struggled to surpass the 46,300 mark. The PSU (Public Sector Undertaking) bank sector emerged as a clear outperformer in the index. This outperformance is expected to continue in the near term.

The Bank Nifty has an immediate support zone in the range of 45,800 to 45,700. This level is crucial, and a breach below it could trigger further selling pressure in the index. 

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

 

4:00 PM

Comment :: 'Markets await clarification from major central banks'

Domestic markets relinquished their momentum as they anticipated a raft of policy rate decisions due this week. The investors' confidence was also impacted by the expectations of a demand resurgence in China, combined with crude supply cuts. With the Fed rate hike fears back on the cards, as reflected in the elevated US bond yields, the markets await clarification from major central banks.

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

 

3:59 PM

Comment :: 'Profit-taking in momentum stocks may be prudent'

>> FII flows, while previously robust, have started tapering off, possibly due to India's outperformance among emerging markets and potential US Fed rate hikes.

>> Important to remain slightly conservative as corrections can be swift

>> Favoring large cap and larger midcap names is suggested, while profit-taking in stocks (especially momentum ones) may be prudent

>> Despite intermittent corrections, the overall positive outlook for Indian markets remains

>> Interim corrections should be viewed as opportunities to increase equity exposure for long-term investors.

Views by: Milind Muchhala, Executive Director - Julius Baer India

3:56 PM

Currency check :: Rupee ends at 83.27/$ against Friday’s close of 83.19/$

3:55 PM

IPO Update :: Yatra Online issue subscribed 27% till 3:45 PM on day 2

3:54 PM

IPO Update :: Zaggle Prepaid issue subscribed nearly 12x till 3:45 PM on final day

>> Subscription led by QIBs at 17x
 

3:52 PM

IPO Update :: Samhi Hotels issue subscribed 5x till 3:$5 PM on final day

>> Bidding closes at 5:00 PM

3:51 PM

Buzzing stock :: Vodafone Idea drops 7% on profit booking; stock hit 52-week high intraday

3:49 PM

Buzzing stock :: Jupiter Life Line settles over 46% higher over issue price

>> Stock listed at 32% premium

>> HIts intraday high of Rs 1,107

>> Issue price: Rs 735

3:47 PM

Sectoral trends :: Auto index stays in fast lane; M&M gains 2%

3:45 PM

Sectoral trends :: All PSU bank index stocks rally; IOB, Uco Bank lead

3:44 PM

Broader market indices give up gains, SmallCap index down 0.6%

3:43 PM

Sectoral trends :: PSBs shine; Realty, Metal stocks sink

3:42 PM

Nifty Losers :: Heavyweights sink on Monday

3:41 PM

Nifty Gainers :: Power Grid, Titan end up to 3% higher in weak market

3:40 PM

Sensex Heatmap :: HDFC Bank, Airtel fall 2%, RIL 1%

3:38 PM

CLOSING BELL :: Nifty loses ground in fag-end, ends below 20,150

3:37 PM

CLOSING BELL :: Sensex sheds 242 points amid global selling

3:28 PM

ALERT :: RIL in focus

3:24 PM

IPO Update :: Zaggle Prepaid issue subscribed nearly 9x till 3:10 PM on final day

3:14 PM

IPO Update :: Samhi Hotels issue subscribed 4x on last day till 3:00 PM

3:01 PM

Stock Alert::D B Realty zooms 6%, raises up to Rs 1,544 cr via warrants

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2:49 PM

Diesel vehicles will not yet be out totally: Siam president Vinod Aggarwal

Lots of discussions happen between industry and the Ministry of Petroleum and Natural Gas. For example, now discussions are happening on ethanol blending; and on LNG availability, says Aggarwal. READ MORE

2:37 PM

ALERT:: VA Tech WABAG inks pact with Middle East-based AEW; stock up 2%

VA Tech WABAG has entered into a Memorandum of Understanding (MoU) with Al Jomaih Energy and Water (AEW) in the Middle East. This MoU was signed during the India-Saudi Investment Forum held on the 10th and 11th of September, on the occasion of the G20 Summit, the company said in an exchange filing.

2:28 PM

ALERT:: Genesys Intl wins Rs 67 cr order; stock soars 5%

Genesys International has won a Rs 67 crore order from AL Moammar Information Systems - a project for production and updating of national coverage maps in Saudi Arabia. The project has to be executed in 18 months, the company said in an exchange filing.

2:14 PM

HFCL soars 7% on winning Rs 1,015 cr order from Madhya Pradesh govt firm

The company has secured an order aggregating Rs 1,015 crore from Madhya Pradesh Jal Nigam, a Government of Madhya Pradesh Undertaking (MPJN). READ MORE

2:00 PM

India, Brazil begin talks to resolve sugar related trade dispute at WTO

Brazil is the largest producer of sugarcane and ethanol in the world. It is also a leader in the technology used for ethanol production. READ MORE

1:49 PM

EU's carbon tax seeks to doubly punish India: FM Nirmala Sitharaman

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1:35 PM

PSB shares rally; IOB, PSB, Central Bank, Uco Bank surge over 30% in 4 days

Shares of public sector undertaking (PSU) banks were on a roll with Indian Overseas Bank (IOB), Central Bank of India, Punjab & Sind Bank (PSB) and Uco Bank soaring up to 19 per cent on the back of heavy volumes, in an otherwise subdued market. In the past four trading days, the stock prices of these banks have zoomed between 30 per cent and 45 per cent. READ

1:24 PM

China's short-term economic prospects doesn't mean it is out of the woods

China’s short-term economic prospects no longer look quite so foreboding, but it would be unwise to proclaim that a bottom has arrived. The country is in a long-drawn slowdown that didn't begin yesterday and won't be over next week. Far from its shores, the challenges to a recovery have registered among policymaking elites: When it nudged interest rates higher, the European Central Bank simultaneously warned of a slowing regional and global economy. China was present in all but name. READ