Major benchmark indices broke their respective psychological levels in trading on Thursday. Sensex fell 1,158 points at 59,985, but Nifty lost 354 points, ending the day at 17,857 levels.
In the process, Nifty fell below 20-DMA, opening the door to further downsides, technical Chartist said.
“Relentless selling by FII is the main reason for this fix in the market. Nifty’s next support level is around 17,650 levels. Below this, 17,450-17,250 will be the next support zone. Upward, 18,150-18,300 are immediate supply zones. ” Santosh Mina, Head of Research at Swastika Invest Mart.
Morgan Stanley downgrades India
Meanwhile, Morgan Stanley has become the latest foreign securities firm to downgrade Indian stocks, following Nomura and UBS. “After strong relative profits, we will tactically move EW with Indian equities. Structural multi-year earnings recovery is expected, but at 24x price-earnings ratio, FRB tapering, RBI in February We expect some integration ahead of the increase in the price and the rise in energy costs, “he said in a memo.
Extensive sold out
Financial stocks, primarily PSU banks, metals and real estate stocks, were struck by selling pressure on Thursday.
The NSE Midcap 150 Index fell 1.7% and the Smallcap 250 Index fell 1.6%. India VIX rose 6.4% to 17.91.
Within the sector, the NSE PSU Bank index fell by more than 5%. Bank Nifty, Realty and Metal indices each fell by about 3.5%. All NSE sector indices fell by more than 1 percent, with FMCG, media, pharmaceuticals and oil and gas being other prominent losers.
This is C The biggest loser of the 30 Sensex shares, down 5.5% to Rs 225. ICICI Bank, Kotakku Bank, and Axis Bank each fell by about 4%.
SBI, HDFC Bank, Titan, NTPC, Sun Pharma, Tech Mahindra, Bajaj Auto, HCL Technologies, Bharti Airtel, Tata Steel and PowerGrid Corporation were the other major losers, each down 2-3%.
on the other hand, IndusInd Bank It was a major acquirer of Sensex, up 3% to Rs 1,175. Larsen & Toubro, UltraTech Cement and Asian Paints were other important winners.
Niker IPO update
Meanwhile, the long-awaited Niker The IPO was subscribed 0.62 times on the first day of bidding at 15:15 hours.
market 2:30 pm
Live market updates: Major benchmark indices continued to trade with weak notes against the backdrop of sustained selling pressure. BSE Sensex fell 868 points at 60,275, NSE Nifty I lost 267 points at 17,944.
The BSE Midcap Index and Smallcap Index also fell by more than 1% each.
Within the sector, the BSE Realty index has fallen by more than 3%. FMCG, telecom, utilities, oil and gas, and electricity indexes were other major losers. All sector indices were in the negative zone.
However, cement stocks traded well in anticipation of a strong demand outlook. ACC, UltraTech Cement, Ambuja Cements and India Cements were prominent winners. read more
market At lunch (01:20 PM)
Live market updates: Major benchmark indices have been sluggish at low levels due to widespread sales in the market. BSE Sensex fell 547 points at 60,596, NSE Nifty I lost 178 points at 18,033.
This is C Despite reporting a 10% increase in Q2 net, it fell 5% to 227 rupees. Giant Industries, ICICI Bank, Kotak Bank, Power Grid Corporation, Axis Bank and NTPC are other prominent losers. IndusInd Bank However, Larsen & Tubro remain strong trading, up 5% and 3.3% respectively.
Angel One market analysts advise investors to be cautious and avoid buying with a dip strategy. “We expect the market to fluctuate in the coming weeks and continue to sell pressure in the wider market. Investors are advised to be cautious about the market, look for profits and avoid buying with a dip strategy. increase.”
The overall market width was fairly negative, with 1,050 shares of BSE rising while 2,121 shares fell.
market at noon
What’s New in the Live Market: The Benchmark Index is off the daily lows, but is still down about 1% on Thursday noon trading.
Markets continue to be under pressure due to significant profits recorded by public sector banks and some major banks such as HDFC Twin, ITC, ICICI Bank, Infosys and Reliance Industries (RIL).
As of 12:00 pm, the BSE Sensex was down 408 points to estimate at the 60,736 level. On the other hand, Nifty50 fell 135 points to 18,075.
In terms of results, UCO Bank The reported net profit was Rs 205.4 and NII was Rs 1,598. Creditor asset quality improved in the second quarter of 2010, with the GNPA ratio dropping from 9.4% quarter-on-quarter to 9% and the NNPA ratio falling from 3.95% quarter-on-quarter to 3.4%. Stocks are up 1%.
Niker IPO update: The initial public offering of Nykaa’s parent company, FSNE commerce Venutres, has been 34% subscribed to date. The retail quota is subscribed 1.6 times and the NII portion is subscribed to 7%.
11:00 am market
Live Market Updates: Selling is intensifying on Daral Street as investors rush to aggressively offload public sector banking, metal and real estate space stocks. Each sector index fell by about 3%.
As of 11:06 am, the Sensex index was down 633 points and was estimated at the 60,510 level. Nifty50 I was testing the 18,000 mark at 18,009, down 202 points.
The breadth of the market supports sellers with more than 2,000 shares down in BSE for about 970 advances. The volatility index, India VIX, also rose 5% to 18 marks.
The broader BSE MidCap and SmallCap indices each fell 1%.
What’s new in the live market: Indian stocks have widened their decline, with morning trading near the daily lows. BSE Sensex, which hit a low of 60,680 earlier today, fell 419 points at 10:11 am, estimating at the 60,724 level.
Meanwhile, the broader 50-share Nifty Index tested 18,050 levels at 18,072.
Twenty-three of the 30 Sensex members and 40 of the 50 Nifty members were in the red. Personally, Adani Ports put 6% in the tank and was the top loser in the Nifty index. This was followed by Hindalco, ONGC, Titan, ITC, Coal India and ICICI Bank.
However, the downside is limited IndusInd Bank (+ 5%), L & T, UltraTech Cement, Bajaj Auto, and M & M.
Share IndusInd Bank Net interest income (NII) rose 6.4% to Rs 1,214.90 on Thursday’s Sino-Japanese trading BSE after banks recorded strong performance in the quarter ended September 2021 (second quarter of 2010). It increased by 11.6% from the previous year. (YoY) and 2.7% QoQ reached Rs 3,658, backed by stable margins and a continuous recovery in loan growth. read more
On the good side Indian Railway Catering and Tourism Corporation (IRCTC) After the scrip changed to a 1: 5 stock split (stock split), the BSE rose 15% to 949.65 rupees in the daytime trading on Thursday. Read here
In Currency marketThe rupee opened at a high of 74.95 per US dollar, compared to Wednesday’s closing price of 75.03 / $.
Meanwhile, NSE counterpart Nifty50 fell 72 points (0.4%) to the 18,139 level.
In the broader market, the BSE MidCap and SmallCap indices fell to 0.34%.
Among individual stocks, ITC stocks fell 2% after the tobacco-to-hotel major reported a 10.09% year-on-year increase in consolidated profit at Rs 3,763.73 in the September 2010 quarter.
on the other hand, Giant Jewelery companies’ net profit increased by 270.5% in the second quarter of 2010 to reach Rs 641 and then decreased by 4%. This is compared to 173 rupees in the same period of the previous year, riding on the recovery of demand in the consumer business as a whole.
By sector, everything except the Nifty Healthcare Index traded in the red, driven by the Nifty PSU Banking Index (down 2.4%) and the Nifty Metal Index (down 2%).
Pre-open session (updated at 9:07 am)
Live market updates:
The pre-open session marks a negative start for the benchmark index. The BSE barometer for 30 shares has fallen 61 points at the 61,083 level, Nifty50 It is 18,187 level, which is 23 points lower.
IndusInd Bank, Titan, and L & T He was the top Sensex winner in the pre-open session.
Updated at 8:10 am
Live Market Updates: Thursday’s secondary market is expected to remain volatile due to the expiration of the F & O series in October and the ongoing corporate performance season.
About 150 companies will report, including Bajaj Finserv, CarTrade Tech, DLF, InterGlobe Aviation, JK Tyre, Marico, NTPC, Tata Power, SBI Card and Westlife Development. Second quarter results today.
Nykaa IPO opens today
Nykaa’s long-awaited IPO of Rs 5,320 will begin subscriptions in the price range of Rs 1,085 to Rs 1,125 per share.
Most analysts recommend subscribing to this issue from a long-term perspective, but pay attention to the valuations and online segments in which the company operates.
Asia-Pacific stocks were mixed in Thursday’s trading as investors awaited the Bank of Japan’s latest monetary policy announcement.
Japan’s Nikkei 225 fell 0.88%, while the Tokyo Stock Price Index fell 0.65%. Stock prices in mainland China have also fallen, and the Shanghai Composite Index has fallen by about 0.6%. Hong Kong’s Hang Seng Index rose 0.24%.
Overnight, the Dow Jones Industrial Average fell 266.19 points to 35,490.69 and the S & P 500 fell about 0.51 percent to 4,551.68. The Nasdaq Composite Index was flat at 15,235.84.
Brent Crude Futures
Crude oil prices fell on the morning of trading hours in Asia, and international benchmark Brent crude oil futures fell 2.12% to $ 82.79 a barrel. US crude oil futures fell 1.9% to $ 81.09 a barrel.
Sensex puts 1,159 points into the tank with a widespread sale.Nifty ends in less than 17,900
https://www.business-standard.com/article/markets/market-live-sensex-nifty-f-o-itc-paytm-nykaa-ipo-adani-port-titan-121102800150_1.html Sensex puts 1,159 points into the tank with a widespread sale.Nifty ends in less than 17,900