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  • Stock Market Updates: Sensex Trades Over 200 Points Higher; Nifty Above 23,200 – News18

    Stock Market Updates: Sensex Trades Over 200 Points Higher; Nifty Above 23,200 – News18


    Last Updated:

    Benchmark indices, Nifty50 and Sensex, were seen trading lower in early trade, tracking mixed cues.

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    Benchmark indices, Nifty50 and Sensex, opened flat on Thursday, reacting to mixed cues from global markets.

    At 10am, Sensex was up 200.73 points or 0.26 percent at 76,605.72, and the Nifty was up 65 points or 0.28 percent at 23,220.35

    UltraTech Cement and HDFC Bank emerged as the top gainers on the BSE, while HUL and Nestle were the biggest laggards. Similarly, on the NSE, UltraTech Cement and Wipro led the gains, while HUL and Nestle saw losses.

    The broader markets showed mixed trends. The Nifty SmallCap index dropped 0.17%, while the MidCap index traded 0.14% lower.

    Sector-wise, the Nifty IT index was the top performer, up 1%, while the Nifty FMCG index was the biggest loser, down 1%.

    Akshay Chinchalkar, Head of Research, Axis Securities, said: “The Nifty’s recovery traced a “tweezer bottom” formation alongside a “bullish harami” pattern that should provide some comfort to people looking for a lasting bounce. The long lower shadow from yesterday’s lows shows demand near the 23,000 area. Although longer-term support lies in the 22500 – 22700 zone, it’s critical for bulls to get past 23471. The NSE midcap index has reached a pivotal support cluster near 52,000 so the burden of proof is on bulls to protect the lows.

    Global Cues

    Asian markets traded mixed on Thursday as investors reacted to various economic data from the region. In Australia, the ASX 200 fell 0.42%, while Japan’s Nikkei rose 0.5%, and the Topix gained 0.42%. South Korea’s Kospi dropped 0.96%, following a report showing the country’s economy grew by just 1.2% YoY in Q4, its slowest pace since Q2 2023. However, Hong Kong’s Hang Seng index climbed 0.75%, and China’s CSI 300 rose 1% at the open.

    In Singapore, inflation data for December is expected soon, and the Bank of Japan is holding a policy meeting today and tomorrow, with Governor Kazuo Ueda hinting at a potential rate hike.

    Overnight, the US stock market saw strong performance, with the S&P 500 hitting a fresh all-time high. The index rose 0.61%, reaching an intraday record of 6,100.81 before closing slightly lower at 6,086.37. The Nasdaq Composite surged 1.28% to 20,009.34, driven by gains in tech stocks like Oracle and Nvidia, fueled by optimism around artificial intelligence (AI). The Dow Jones Industrial Average also saw a modest gain, rising 130.92 points, or 0.3%, to close at 44,156.73.

    Investors are now awaiting US Jobless claims data for the week ending January 18.

    News business » markets Stock Market Updates: Sensex Trades Over 200 Points Higher; Nifty Above 23,200



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  • Sensex Falls 200 Points And Nifty 50 below 17,800

    Sensex Falls 200 Points And Nifty 50 below 17,800


    Last Updated: February 06, 2023, 09:56 IST

    A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (File photo/Reuters)

    Meanwhile, Asian shares slipped on Monday after a run of upbeat economic data from the United States and globally lessened the risk of recession,

    Sensex Today: Indian equity markets saw a negative start on Monday with Sensex falling 200 points and Nifty 50 below 17,800 in early trade.

    Sensex declined 203.71 points to 60,638.17 in early trade. Nifty slipped 64.05 points to 17,790.

    Rupee declined by 35 paise to 82.43 against US dollar in today’s early trade.

    Last week, Sensex and Nifty rallied over 1 per cent on Friday due to heavy buying in banking and financial counters amid mixed trend in the global markets.

    The 30-share BSE benchmark Sensex zoomed 909.64 points or 1.52 per cent to settle at 60,841.88. During that day, it jumped 973.1 points or 1.62 per cent to 60,905.34.

    From RBI MPC To IIP Data: Top Trends To Drive Market This Week

    Foreign Institutional Investors (FIIs) again offloaded shares on Thursday after a day’s breather. They sold shares worth Rs 3,065.35 crore, according to exchange data.

    Meanwhile, Asian shares slipped on Monday after a run of upbeat economic data from the United States and globally lessened the risk of recession, but also suggested interest rates would have to rise further and stay up for longer, mews agency Reuters reported.

    The dollar extended its rally on the yen to a three-week top of 132.60 on Monday amid reports the Japanese government had offered the job of central bank governor to the current deputy, Masayoshi Amamiya.

    In equity markets, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.5%, with South Korea down 0.6%. Chinese blue chips lost 1.0%.

    Japan’s Nikkei added 1.1%, encouraged by hopes the BOJ would keep policy easy.

    S&P 500 futures and Nasdaq futures eased 0.2% as the stellar January payrolls report forced investors to price in the risk of more hikes from the Federal Reserve, and less chance of cuts later in the year.

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  • Sensex tanks over 850 pts, Adani group stocks slide up to 7%

    Sensex tanks over 850 pts, Adani group stocks slide up to 7%


    Stock Market Crash: Fronltine indices sharply slumped on Wednesday as the monthly F&O expiry jolted market sentiment. The S&P BSE Sensex fell over 850 points to the day’s low, while the Nifty index broke below 17,900. Weak economic data from the United States that hinted at a possible recession and downbeat growth outlook from companies also weighed on sentiments. Selling was seen across all sectors barring auto stocks.

    Maruti Suzuki, HUL, Hindalco, Bajaj Auto and Tata Steel were the handful of index gainers, while Adani Ports, Ultratech Cement, Adani Enterprises, SBI, IndusInd Bank remained top laggards.

    In the broader markets, the BSE MidCap and SmallCap indices dropped 0.7 per cent and 0.4 per cent, respectively.

    Sectorally, only the Nifty Auto and Metal indices were in the green, up 0.09 per cent and 0.14 per cent, respectively. On the downside, the Nifty PSU bank index fell 1.15 per cent, followd by the Nifty Bank and Pharma indices (down 0.75 per cent each).

    Adani group stocks fell on Wednesday after Hindenburg Research said that it holds short positions in Adani Group companies through U.S.-traded bonds and non-Indian-traded derivative instruments, sending shares of companies sliding. The short-seller said seven Adani-listed companies have an 85% downside on a fundamental basis due to sky-high valuations and that “key listed Adani companies have also taken on substantial debt” which has “put the entire group on precarious financial footing”. Adani Enterprises shares fell 2.68% to Rs 3350.40, Adani Ports slipped 6.24% to Rs 713.40, Adani Power dropped 4.51% to Rs 262.40, Adani Transmission tanked 4.29% to Rs 2638.00, Adani Green Energy was down 1.84% to Rs 1878.35, Adani Total Gas was down 3.55% to Rs 3747.65 and Adani Wilmar dropped 4.41% to Rs 547.90.

    All sectoral indices trade in red; Nifty PSU Bank falls over 3%

    All the sectoral indices are trading in red with Bank Nifty falling 750 pts or 1.8% to 41,966.35, Nifty IT falling 0.61%, Pharma slipped 1.03%, Nifty Realty dipping 1.51% and Nifty PSU Bank falling most by 3.38%.

    F&O Expiry

    A part of the volatility today can also be attributed to the weekly and monthly derivative expiry today. F&O contracts expire on Thursday but tomorrow being a market holiday on account of Republic Day celebrations, the expiry day has been preponed today.

    Nifty has been consolidating in between 17,777 to 18,250 zones from the last 18 trading sessions where declines are being bought but absence of follow up buying is clearly viable in the market, said Chandan Taparia of Motilal Oswal.

    Markets Focusing on Union Budget, Fed meet for Directional Cues

    Traders were cautious ahead of two big events in the coming week – Union Budget and Fed meeting outcome. Both events are coinciding on February 1, ahead of which Nifty has been trading in a narrow band of 17800-18200. A good budget and positive commentary from the Fed can break the upper band.

    “Any negative budget proposal like raising the rate of long-term capital gains tax or a worse-than-expected hawkish Fed can break the lower end of the range,” said Dr. V K Vijayakumar.

    FII Selling

    Foreign institutional investors who have been on a selling spree on Dalal Street were net sellers to the tune of Rs 760.51 crore yesterday. The total outflow so far in the month has crossed the Rs 17,000 crore mark as FIIs are said to be favouring relatively cheaper markets like that of China.

    Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.



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  • Sensex Soars 900 pts, Nifty Surpasses 18,000 level; Will the Rally Continue?

    Sensex Soars 900 pts, Nifty Surpasses 18,000 level; Will the Rally Continue?


    Last Updated: December 26, 2022, 15:18 IST

    Why is the Market Rising Today?

    Why is the Market Rising Today? Domestic markets wiped off opening losses and edged higher in Monday’s trade amid mixed global cues

    Why is the Market Rising Today? Domestic markets wiped off opening losses and edged higher in Monday’s trade amid mixed global cues. The Indian benchmarks kicked off the last week of 2022 on a firm note on Monday, led by gains in banking, financial and stocks after they suffered their biggest monthly losses in December – worst since 1994 – battered by a host of global headwinds like a resurgent Covid crisis, fears of further tightening of rates by central banks around the world, and a looming recession.

    At 2 PM, the Sensex is up 692.86 points or 1.16 percent at 60,538. Nifty is up 198.10 points or 1.11 per cent at 18,004.

    Broader markets, too, rose in tandem with benchmark indices, as Nifty MidCap 100 and Nifty SmallCap 100 indices advanced up to 1 per cent.

    Barring Nifty Pharma index, which was fractionally lower in trade, all sectors swimmed in the sea of green. Nifty Metal, and Nifty Realty indices gained the most, up to 1 per cent each.

    Nifty PSU Bank was trading nearly 5 per cent higher at 4,077.20 led by Indian Overseas Bank (up 11.83 per cent), Union Bank (up 11.03 per cent) and Bank of India (up 8.59 per cent).

    Ravi Singhal-CEO GCL, said: “As we can see, the market has bounced back exactly from the Cup and Holder pattern breakout 41,600 in November month. It has now been tested, so we believe one way can come from here for new high stop loss at 41,400.”

    Will the Rally Continue?

    “The market selloff on Friday was the consequence of the cumulative impact of Covid fears, valuation concerns, and margin calls in many momentum stocks. It is important to note that the 320 point cut in Nifty was caused on a day when DIIs bought heavily for Rs 3398 crores and FIIs sold only for Rs 706 crore,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

    “This means the selling was triggered by HNIs and retail which, in turn, triggered margin calls in momentum stocks that led to steep cuts in these segments. Heavy FII selling in call options in the derivatives segment indicate that recovery will be slow and tough,” Vijayakumar added.

    Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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    Aparna Deb

    Aparna Deb is a Subeditor and writes for the business vertical of News18.com. Among other things, financial market, economy and policies interest her …Read More



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