Smallcaps shine in weak market; PSB, IT shares slip, FMCG, defence gain

Closing Bell on September 26, 2023: The BSE Sensex closed at 65,945 levels, down 78 points, while the Nifty50 shut shop at 19,665, down 10 points

4:05 PM

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

Nifty50
On the daily charts, we can observe that the Nifty consolidated within the range (19,734 – 19,601) of the previous trading session, and thus formed an Inside bar pattern which makes the extremes of the range crucial levels to watch out for. A breach of this range on either side shall lead to a move in that direction. We are expecting this range to break on the upside. A pullback is expected till 19,773 – 19,800 where 40 hourly moving averages is placed. Above that, it can stretch higher till 19,880 – 19,900 which is the gap area formed on 21st September. On the flipside, a breach below 19,600 can lead to a fall till 19,440.

 

Bank Nifty

Bank Nifty also consolidated within a narrow range today and closed in the red, down 140 points. Considering the oversold nature of the Bank Nifty, we are expecting a pullback over the next few trading sessions. On the upside, the pullback is likely towards 45,000 – 45,200. On the hourly charts, the momentum indicator has a positive crossover which is a buy signal and the positive divergence suggest that the momentum on the downside is weakening.

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

4:01 PM

Comment :: What all happened in the markets today?

Trading remained flat as headwinds from the global market and continued selling by FIIs kept domestic investors under vigil. While bargain hunting was visible in small-cap stocks due to the recent correction and favourable valuation compared to large and mid-caps, IT indices slid due to the fear of one more rate hike by the FED and a consequent reduction in spending.

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

3:59 PM

Comment :: 'Tone remains bearish, avoid aggressive positions'

The marginal rebound on the global front combined with oversold positions is capping the downside however the tone is still bearish. A decisive move above 19750, which coincides with 20 EMA, may prompt some recovery. Amid all, we reiterate our view to stay stock-specific and avoid aggressive positions.

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

3:56 PM

Currency check :: Rupee ends at 83.23/$ against Monday’s close of 83.15/$

3:55 PM

IPO Update :: Updater Services issue fails to garner interest

3:53 PM

IPO Update :: JSW Infra issue subscribed 1.6x thus far on day 2

3:50 PM

Market Check :: Top losers on the BSE today

3:48 PM

Market Check :: Top gainers on the BSE today

3:47 PM

Broader markets :: BSE SmallCap index ends in green

3:45 PM

Sectoral trends :: Auto, FMCG, Realty, Metal indices eke out gains

3:43 PM

Sensex Heatmap :: IT, pvt bank stocks weigh on the index

3:41 PM

Closing Bell :: Nifty slips again after 1-day hiatus

3:40 PM

Closing Bell :: Sensex ends 78 points lower

3:27 PM

Defense shares in focus; Cochin Shipyard, Garden Reach, MTAR gain up to 14%

Ratings agency Icra expects business opportunities worth Rs 2.75 trillion to open up for Indian defence entities during FY24 and FY25 READ MORE

3:10 PM

ALERT :: USFDA delegation visits Choutuppal, Telangana, Unit, says Divi's Labs

2:55 PM

P2M transactions to make 75% of all UPI transactions by 2025: Report

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2:45 PM

India's bond index inclusion set to test RBI's liquidity, FX management

India's inclusion next year in the JPMorgan emerging market debt index, which could draw up to $25 billion in inflows over a short period, would need more active currency intervention and liquidity management from the central bank, two sources said. READ MORE

2:32 PM

ALERT:: Zuari Industries okays Rs 200 cr fund raise; stock surges 4%

The board of directors of Zuari Industries have approved raising up to Rs 200 crore by way of issue of non-convertible debenturs on a private placement basis. Further, the board also okayed a proposal to avail loan of Rs 125 crore from Axis Finance.

2:20 PM

ALERT:: RVNL emerges lowest bidder for Central Railway contract; stock down 1%

RVNL has emerged as the Lowest Bidder for a Central Railway contract worth Rs 311.18 crore. The work order includes, construction of 4 Nos. Tunnels with ballast less track, Earthwork in formation, Construction of Important Bridges (2nos), Major Bridges (1no), Minor Bridges (25 nos), supply of Stone ballast, Track linking, side drain retaining wall etc. from Km 831.8 to Km 841.9 in Dharakoh Maramjhiri section. 

2:07 PM

At 5-year high: This power & infra stock has zoomed 146% in last one month

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1:55 PM

BS Opinion:: Behind ITC's hotels demerger

Why ITC threw down the gauntlet with the demerger of its hotels business. Read Opinion

1:44 PM

Poonawalla Fincorp gets RBI nod to issue co-branded credit card

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1:31 PM

We care about both countries: US Envoy Eric Garcetti on India-Canada row

Garcetti said, "A record number of student visas were processed this summer. Now, India, again, will probably be the number one source of students from across the world". READ MORE

1:20 PM

I-T dept notifies 'Angel Tax' rules for valuing investments in startups

"The inclusion of a tolerance threshold for minor valuation discrepancies further enhances efficiency and fairness in tax assessments, ultimately benefiting both taxpayers and the govt". READ MORE

1:07 PM

Varun Beverages outperforms, up for 4th day in a row; analysts remain upbeat

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12:53 PM

SME stocks to come under additional surveillance, T2T framework: NSE

The process of identifying stocks moving to the TFT segment will be done fortnightly and stocks moving to and from the segment shall be on a quarterly basis. READ

12:41 PM

India is one of world's most competitive aviation markets: IndiGo CEO

India is one of the most competitive aviation markets in the world and there is also a lot of competition in the market, IndiGo CEO Pieter Elbers said on Tuesday. READ

12:27 PM

OYO set to report maiden profit of over Rs 16 crore in Q2: Report

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12:15 PM

Best Agro slips 3% on reports of tax raids

Reports say IT dept has conducted raids at the company's premise. 

11:59 AM

Margin recovery key for Blue Dart Express stock, volume growth expected

Operating profit margins are expected to rise to 13 per cent in FY25 (12.2 per cent in FY23, 9.2 per cent in Q1FY24) on better capacity utilisation and lower Brent-ATF disparity. READ