HDFC Bank, ITC lift Sensex 100 pts on late buying; Nifty ends atop 19,600

CLOSING BELL ON SEPTEMBER 06, 2023: The Sensex gained 483 points from the day's low, with HDFC Bank, ITC and Bharti Airtel contributing 217 points to the BSE benchmark on Wednesday.

4:09 PM

Tech View :: 'Bank Nifty may remain sideways'

Bank Nifty has witnessed three days of consolidation. It witnessed a pullback though closed in the negative. On the downside 44,200 proved to be a strong support and the Bank Nifty witnessed a sharp pullback from the support. Going forward, we expect the positive momentum to continue and expect the Bank Nifty to target levels of 45,000 – 45,200 from short term perspective. The daily and hourly momentum indicators are providing divergent signals which can lead to a sideways consolidation; however, the downside appears limited.

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

4:06 PM

Tech View :: 'Nifty may next attempt 20,000-mark'

Nifty exhibited volatility but achieved a significant milestone by closing above 19,600 for the first time in a while. The bullish crossover of the 21EMA and 55EMA has persisted, signaling an ongoing bullish trend. Additionally, a bullish crossover in the RSI highlights the index's strength. In the short term, Nifty may target levels of 19,750 or even 20,000. On the downside, key support rests at 19,440, and the market is expected to maintain a buy-on-dips strategy as long as this support level holds.

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

4:00 PM

Comment :: 'Market rebound lacks decisiveness'

Though we are seeing a rebound in the index, it lacks decisiveness due to the prevailing underperformance of the banking pack, which holds considerable weight. Besides, mixed cues from the global front are also weighing on the sentiment. We thus reiterate our view to stay focused on stock selection and avoid going overboard.

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

 

3:55 PM

Comment :: 'Domestic markets rallied on improved India outlook'

A spike in crude oil reverberated across the globe, reviving concerns about inflation and sparking fears of a Fed rate hike. This led to a surge in US bond yields, causing investors to shift towards the safety of bonds and reversing the buying trend of foreign investors in the domestic market. Nevertheless, the resilience of the domestic markets shone through as investors placed their bets on an improved outlook, ultimately helping the market recover from the initial shock.

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

3:51 PM

ALERT :: Haldiram's denies stake sale reports

>> Company not in talks with Tata Consumer, it clarified to CNBC TV18

3:50 PM

Currency check :: Rupee ends lower at 83.13/$ Tuesday’s close of 83/$

3:49 PM

Broader markets settle mixed; SmallCap index dips mildly

3:48 PM

Market Check :: Top losers on the BSE today

3:47 PM

Market Check :: Top gainers on the BSE today

3:46 PM

Buzzing stock :: Tamil Nadu Newsprint surges 8% on healthy business outlook

>> Other paper stocks, too, rally up to 15%

3:44 PM

Buzzing stock :: Vodafone Idea zooms nearly 8% amid sudden spurt in volumes

3:43 PM

Buzzing stock :: LIC gains 3% on heavy volumes

3:42 PM

Buzzing stock :: SpiceJet soars 20% amid block deal

3:41 PM

Buzzing stock :: Tata Consumer Products leaps 4% on Haldiram stake buy buzz

3:40 PM

Sector check :: PSBs end lower dragged by PNB. Union Bank

3:38 PM

Sector check :: Pharma index settled higher in an otherwise choppy session

3:37 PM

Sector check :: Tata Consumer lifts FMCG index 1% up

3:36 PM

Sectoral trends :: Indices end mixed; Pharma, FMCG gain 1%, PSBs down

3:34 PM

Sensex Heatmap :: Airtel, HDFC Bank, ITC support index

3:33 PM

CLOSING BELL :: Nifty ends atop 19,600

3:32 PM

CLOSING BELL :: Sensex ends sharply off lows amid fag-end buying

3:20 PM

ALERT:: US, UK stock futures slip up to 0.7%

Source: Investing.com

3:07 PM

86% housing projects launched between Jul 2017-Dec 2018 completed: Anarock

86% of the total 1,642 housing projects launched between July 2017 and December 2018, across seven major cities in India have been completed, according to real estate consultant Anarock. It was driven by tighter regulations under the realty law Real Estate (Regulation and Development) Act, 2016 (Rera). READ MORE

2:55 PM

Foreign investors rush into Indian stocks as locals lie low: Analysis

Global investors looking for alternatives to China's anaemic economy are pouring money into India, picking stocks carefully in a market they abandoned in 2022 and still deem expensive. READ MORE

2:38 PM

ALERT :: Tata Consumer looking to buy 51% stake in Haldiram's, reports Reuters

2:33 PM

ALERT:: Ind-Swift board okays merger with Ind-Swift Labs; stock up 2%

The board of directors of Ind-Swift have given in principal approval for the proposed merger/amalgamation of Ind Swift with Ind Swift Laboratories. 

 

The board also approved raising its borrowing limit from Rs 1,500 crore to Rs 2,000 crore. 

2:18 PM

ALERT :: RBI will likely meet today to decide on Incremental CRR, says report

2:08 PM

SpiceJet zooms 19% after nearly 3% equity change hands on the BSE

The stock has rallied 27% in two days after the board allotted equity shares and warrants to the promoter group company, and allotted equity shares to aircraft lessors on preferential basis. READ MORE

2:02 PM

ALERT:: ABB inks MoU with Tata Steel to help reduce carbon footprint; stock up 1%

Tata Steel and ABB have signed a Memorandum of Understanding (MoU) and will work together to co-create innovative models and technologies to help reduce the carbon footprint of steel production. ABB will bring global experience in automation, electrification and digitalization for the mining and metals industries, ABB said in a release to the BSE.

 

1:46 PM

ALERT :: Kotak Mahindra AMC clarifies on market rumour over Nilesh Shah

This is with regard to the recent posts circulating on social media about Nilesh Shah, MD & CEO – Kotak Mahindra Asset Management Company (KMAMC) moving to another AMC. We wish to clarify that it is not the truth and these posts are unsubstantiated and are unsolicited rumours.

Alert: Reports earlier suggested that Nilesh Shah was looking to join Jio BlackRock MF as CEO