28 Aug 2024 | 05:46:15 PM IST
Synopsis
Nifty ended 36 points higher to form a Doji-type candle pattern on the daily chart after hitting fresh record high and signal resistance around 25,100-levels.
The underlying trend of the index remains positive. Further consolidation or minor dip from here is likely to create space for a decisive upside breakout of the hurdle at 25,100 level. A sustainable upside breakout from here could open the upside target of 25,360 levels in the near term as per Fibonacci extension. Immediate support is placed around 24,800-24,750 levels, said Nagaraj Shetti of HDFC Securities.
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Gold prices remain steady; silver declines Rs 400
Gold held steady at Rs 74,350 per 10 grams in Delhi on Wednesday, despite weakening overseas. Silver dropped Rs 400 to Rs 87,800 per kilogram. Traders blamed lower industrial demand and global factors for the silver price dip.
Tech View: Nifty hits fresh high, signals resistance at 25,100 levels. Here’s how to trade on Thursday
Nifty ended 36 points higher to form a Doji-type candle pattern on the daily chart after hitting fresh record high and signal resistance around 25,100-levels.
The underlying trend of the index remains positive. Further consolidation or minor dip from here is likely to create space for a decisive upside breakout of the hurdle at 25,100 level. A sustainable upside breakout from here could open the upside target of 25,360 levels in the near term as per Fibonacci extension. Immediate support is placed around 24,800-24,750 levels, said Nagaraj Shetti of HDFC Securities.
A consolidation in the US 10yr bond yield and an inflow of FIIs kept the domestic market sentiment optimistic. However, valuation remains a near-term deterrent, which will be further tested based on the upcoming India Q1 FY25 GDP data this week. On the other hand, investors are giving more emphasis to defensive bets, which is evident with the outperformance in IT and pharma stocks
– Vinod Nair, Head of Research, Geojit Financial Services
The Nifty continues to exhibit confusion at higher levels, as the index closed flat with wicks on both the upper and lower sides, indicating extended indecisiveness. This is highlighted by two consecutive doji-like candles following the recent rally on the daily timeframe. A decisive move above 25,100, or a close above this level, could confirm a further rally in the market. Otherwise, Nifty may slip lower, as the absence of sustained buying might trigger selling pressure. The immediate support is placed at 24,800
– Rupak De, Senior Technical Analyst, LKP Securities
Sebi on SME companies
- Issues advisory regarding investing in SME segment of a stock
- Some SME cos projecting unrealistic picture of their ops
- Investors advised not to invest based on tips
Market Stats: Advance-decline ratio in favour of sellers
Rupee falls 3 paise to close at 83.96 against US dollar
Nifty posts record close, ends with gains for 10th straight session
Sector View: Media bleeds, IT shines
Closing Bell: Sensex extends gains to 7th day, ends 74 pts higher
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- The AMC manages 46 lakh active folios with Rs 71.8K crore in mutual funds, Rs 14.5K crore in PMS, and Rs 13.7K crore in AIF, holding notable market shares.
Sensex Today | Stock Market LIVE Updates: Nifty climbs off highs, trades at 25,053
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Price as on 02.59.11 PM, Click on company names for their live prices.
Sensex Today | Eureka Industries shares jump 5% after company approved right issue of equity shares up to Rs 49 crore
Price as on 02.51.49 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Endurance Technologies gets tax order worth Rs 1.03 cr
Price as on 02.49.16 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | BSE shares up 5% as NSE reapplies for SEBI’s no objection for IPO
Shares of BSE rose 5% to Rs 2,834.80 after NSE resumed its IPO process. NSE has applied for regulatory approval, while reporting a 39% profit increase and 51% revenue growth.
Price as on 02.49.00 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Ahluwalia Contracts gets order worth Rs 350 crore
Price as on 02.46.22 PM, Click on company names for their live prices.
Stock Market LIVE Updates | Tech, insurance stocks lift STOXX 600 to over one-month high
European shares reached a more-than-one-month high on Wednesday, driven by gains in technology stocks ahead of Nvidia’s earnings report and a boost from Ageas’ stronger-than-expected results, which lifted insurance stocks.
The pan-European STOXX 600 index increased by 0.2% to 520.09 points, reaching its highest level since July 15 earlier in the session.
Stock Market LIVE Updates | China stocks extend losses while HK declines as consumer firms weigh
China’s blue-chip stocks fell for the third consecutive day, and Hong Kong’s market also declined on Wednesday. Disappointing interim results from beverage and restaurant companies underscored deflation risks in the country.
Nongfu Spring, China’s leading bottled water supplier, saw its shares drop over 10% after reporting significantly slower profit growth for the first half of the year due to intense domestic price competition. This decline contributed to the drop in Hong Kong’s Hang Seng Index.
Sensex Today | Stock Market LIVE Updates | Gensol Engineering sets up subsidiary in US to supply 2,000 MW solar trackers.
Price as on 02.37.37 PM, Click on company names for their live prices.
Sensex Today | Rekha Jhunjhunwala-backed Baazar Style Retail IPO opens Friday
- Baazar Style Retail’s IPO opens for subscription on August 30.
- The issue will close on September 3.
- The company aims to raise approximately Rs 835 crore through the public offer.
Stock Market LIVE Updates: Ecos India Mobility And Hospitality IPO fully subscribed on Day 1
- Non Institutional Investors’ category booked 2.45 times
- Retail Individual Investors subscribed 2.10 times
- The Qualified Institutional Buyers’ category drew a blank so far on Day 1
Sensex Today | Cryptocurrency Prices today: Bitcoin drops to $59,000 level; Major Altcoins decline
The cryptocurrency market saw a significant drop today, undoing recent gains and worrying investors. Bitcoin fell to approx. $59,000, with the global crypto market cap declining nearly 6% to $2.08 trillion.
At 12:44 pm IST, Bitcoin was down 5.7% at $59,198, and Ethereum had dropped 7.85% to $2,466.
Sensex Today | Stock Market LIVE Updates | Smallcap stock jumps 32% in 2 days on Microsoft partnership for AI
Shares of Datamatics Global Services, a company specializing in digital technologies, operations, and experiences, jumped 32% to Rs 740 on the BSE over two days following the announcement of a partnership with Microsoft to create copilot solutions for process automation.
In a filing with the exchanges, the company stated, “Datamatics has introduced a Partner On-boarding Copilot available on the Microsoft Teams store, which integrates Azure OpenAI with Datamatics Intelligent Automation Platform.”
Price as on 01.19.31 PM, Click on company names for their live prices.
Stock Market LIVE Updates | NBCC, Tata Elxsi, LTIM among top gainers & losers at this hour
Price as on 01.17.19 PM, Click on company names for their live prices.
Stock Market LIVE Updates Wipro shares rise over 3%; co forms new partnership to strengthen its enterprise AI-Ready Platform
Price as on 12.35.32 PM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Orient Technologies shares hit 5% upper circuit after strong listing
- Shares of Orient Technologies hit a 5% upper circuit limit at Rs 304.45 on BSE after a strong market debut.
- Despite a strong listing, it fell short of the grey market premium (GMP) of 46% seen before its debut.
Stock Market LIVE Updates | Zee Entertainment shares rise nearly 3% after settlement with Sony India
Shares of Zee Entertainment rose its day’s high of Rs 154.85 after the company said that it has entered a settlement of all disputes arising out of its merger with Culver Max Entertainment (formerly Sony Pictures).
The announcement was made during the market hours following which, the company’s shares soared 15%.
Stock Market LIVE Updates | Nifty Pharma index hits fresh lifetime high
Granules, Biocon and Zydus Life among top gainers from the pack.
Stock Market LIVE Updates: Top Nifty contributors at this hour
Price as on 11.50.36 AM, Click on company names for their live prices.
Stock Market LIVE Updates | IT sector hits record high, powers Nifty to lifetime high
- Nifty IT sector jumps over 2%
- LTIM, Coforge among top winners from the pack
Price as on 11.50.42 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Sectoral Snapshot
- Nifty IT index rises most, up over 2%
- Bank & financial sectors under pressure
- Oil & gas, pharma indices gain
Stock Market LIVE Updates | NIFTY HITS FRESH ALL-TIME HIGH
Nifty breaches earlier level of 25,078.
Stock Market LIVE Updates | Adani bull GQG hikes stake in GMR Airports to over 5%
US-based boutique investment firm GQG Partners, renowned on Dalal Street as a supporter of Adani, has raised its stake in GMR Airports Infra from 4.74% to 5.17% last week.
In a regulatory filing, GMR Airports Infra stated, “On August 23, 2024, the Acquirer and PACs (persons acting in concert) acquired additional shares, pushing their total shareholding above 5% of the company’s share capital.”
Price as on 11.23.18 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Bharti Airtel will announce new tariff plans that include free Apple TV offering
Price as on 11.09.24 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Infibeam Avenues gets contract with chain of hospitals and gas-station chain; stock jumps 2%
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- Tenure for contract with hospitals in India, UAE-based gas station chain is five years
Price as on 10.50.42 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Paytm completes transfer of events, movies ticket biz to Zomato
Following the announcement, Paytm’s stock rose 2.5% to Rs 559.65 on BSE, while Zomato’s shares increased by nearly 1% to Rs 257.80.
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Since the previous major AGM, RIL’s shares have slightly underperformed compared to the benchmark indices.
Sensex Today | Stock Market LIVE Updates | Zee Entertainment shares up nearly 3%
Shares of Zee Entertainment climbed 2.7% to Rs 154.85 on BSE after the company announced a settlement of all disputes related to its merger with Culver Max Entertainment (formerly Sony Pictures).
Price as on 10.19.26 AM, Click on company names for their live prices.
Stock Market LIVE Updates | KPIT Tech achieves zero net debt status on standalone basis; stock rises
Price as on 10.16.16 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Indus Towers stock gains 2% as it is set to become a subsidary on Bharti Airtel
The company is poised to become a subsidiary of Bharti Airtel, which will hold a controlling 50.005% stake in the telecom tower company once the buyback exercise is completed.
Price as on 10.12.50 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Orient Technologies shares list at 41% premium over issue price
Orient Technologies’ shares made their debut on the stock exchanges on Wednesday, starting with a premium of 40.8%. The stock opened at Rs 290 on the BSE, compared to the issue price of Rs 206.
On the NSE, the shares listed with a gain of 39.8%, opening at Rs 288.
Rupee falls 2 paise to 83.95 against US dollar in early trade
Sensex Today | Ecos Mobility IPO opens. Should you bid?
- The IPO is available for subscription until August 30.
- This IPO is a complete offer for sale (OFS) of 1.8 crore shares, meaning that all proceeds will be received by the selling shareholders.
Sensex Today | Stock Market LIVE Updates | GMM Pfaudler shares up 8% after Rs 557 crore block deal
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- The transaction involved a 9.2% equity stake, approximately 41.2 lakh shares of the company.
Price as on 09.57.55 AM, Click on company names for their live prices.
Stock Market LIVE Updates | LTIMindtree shares rise 3%
The Karnataka High Court stayed GST demand order on the company worth Rs 378 crore till the next date of hearing, which is yet to be notified.
Price as on 09.49.32 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Zee Ent. shares trade in green as co signs settlement agreement with Sony India
On Wednesday, ZEE Entertainment announced that it has reached a settlement resolving all disputes related to its merger with Culver Max Entertainment Pvt Ltd (formerly Sony Pictures).
Price as on 09.49.38 AM, Click on company names for their live prices.
Stock Market LIVE Updates | Tata Technologies shares trade in red as TPG divests stake
TPG on Tuesday divested a 3% stake worth Rs 1,230 crore in Tata Technologies through its investment arm Rise Climate Sf Pte Ltd via a block deal.
Price as on 09.49.47 AM, Click on company names for their live prices.
Sensex Today | Market View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
The market has entered a consolidation phase with low volatility and this trend is likely to continue in the near-term. Falling bond yields in the US has restrained FII selling and they have even turned marginal buyers. Going by previous trends, DIIs are likely to sell if FIIs continue to buy. This trend will keep the market within a range with a slight upward bias. This is a desirable and healthy trend, given the elevated valuations in the market.
A bull market is prone to excesses. Retail investors chasing many mid and smallcaps without any concern for valuations and hyper speculative activity in the F&O and intra-day segments are instances of some of these excesses.
Another major excess, which is becoming an area of serious concern, is the irrational and hyper speculative activity in the SME segment. IPOs of some SMEs without any track record and suspect financials are getting oversubscribed many times. Retail investors chasing such IPOs in hopes of getting listing gains has become an unhealthy trend. Irrational frenzies like these often end in tears for investors.
Stock Market LIVE Updates | Nifty Midcap 100 hits fresh 52-week high
BSE, Paytm, Suzlon among top gainers from midcap pack as broader markets outperform.
Stock Market LIVE Updates | NBCC share price gains 8%
The Board of NBCC will consider the proposal for issue of bonus shares on August 31, 2024
Price as on 09.50.02 AM, Click on company names for their live prices.
Sensex Today | Zee Ent., Indus Towers among top movers in morning trade
Price as on 09.21.51 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Opening Bell
Sensex, Nifty rise marginally; NBCC gains 5%, Tata Elxsi drops 3%
Stock Market LIVE Updates: Sensex trades marginally higher, Nifty holds 25,000 in pre-open session
Stock Market LIVE Updates: Deploy Bull Call Spread in Nifty to gain from bullish stance
The Nifty Index has been steadily rising, forming higher tops and bottoms on the daily chart. It climbed to 25,073, just five points shy of its all-time high.
Sensex Today | Stock Market LIVE Updates | Block Deal Alert
8.2% equity of GMM Pfaudler traded via block deal (pre-market)
Sensex Today | Stock Market LIVE Updates | Block Deal Alert
1.96% equity block trade in KIMS (pre-market)
Stock Market LIVE Updates: SME IPOs spark a gold rush as investors eye big bounties
For those surprised by the staggering 400-times oversubscription of the ₹12-crore SME IPO of Resourceful Automobile, a two-wheeler dealer with only two Yamaha showrooms and eight employees, such high oversubscription is becoming increasingly common in the Indian primary market.
Stock Market LIVE Updates: Adani Enterprises likely to launch Rs 800-crore public bond issue on Sept 4
Adani Enterprises, the main company of the Adani Group, plans to initiate a public bond issue of up to ₹800 crore on September 4.
Stock Market LIVE Updates: NSE plans to refile for NOC to proceed with Rs 30,000-cr IPO
The board of the National Stock Exchange will seek approval from the capital markets regulator once more to proceed with its highly anticipated initial public offering, according to sources familiar with the matter.
Stock Market LIVE Updates | IG Petrochemicals among 8 stocks to trade ex-dividend on Thursday
IG Petrochemicals and seven other companies are expected to attract attention today, as they have set August 29 as the record date for determining shareholders eligible for dividend payments. As a result, today is the final day to purchase shares of these companies to qualify for the announced dividends.
Stock Market LIVE Updates: GIFT Nifty signals a muted start for D-Street. Here’s the trading setup for today’s session
The Nifty extended its upward trend for the ninth consecutive day, but fell short of reaching an all-time high by only 5 points on Tuesday.
Stock Market LIVE Updates | Gold holds ground near record high as rate-cut bets build
Gold prices remained relatively stable on Wednesday, staying close to the record highs reached last week. This stability is supported by expectations of imminent U.S. rate cuts and increased safe-haven demand due to the ongoing Middle East crisis.
Spot gold was flat at $2,524.88 per ounce, as of 0033 GMT. Bullion hit a record high of $2,531.60 on Aug. 20.
Stock Market LIVE Updates | Stocks in news: Tata Technologies, SBI Card, Jio Financial, LTIMindtree, NBCC
Benchmark indices Sensex and Nifty closed flat after a volatile session on Tuesday, driven by profit-taking and escalating geopolitical tensions. In today’s trading, shares of Tata Technologies, SBI Card, Jio Financial, LTIMindtree, and NBCC, among others, will be in focus due to recent news developments.
Sensex Today | Stock Market LIVE Updates | D-Street Recap
Indian equity markets ended nearly unchanged on Tuesday, with gains in financial stocks balancing out declines in energy and consumer sectors. A global rally driven by expectations of a potential U.S. rate cut stalled amid rising tensions in the Middle East.
The NSE Nifty 50 index inched up 0.03% to 25,018, while the S&P BSE Sensex increased by 0.02% to 81,712.
Stock Market LIVE Updates | Japan’s Nikkei edges lower as strong yen weighs; Nvidia earnings in focus
Japan’s Nikkei share average dipped on Wednesday, pressured by a stronger yen that affected many exporters, and investor caution ahead of Nvidia’s earnings report later in the day.
The Nikkei fell 0.3% to 38,167.80 as of 0019 GMT, maintaining its tight range around the psychological 38,000 mark since mid-month.
Stock Market LIVE Updates | Australian shares slip as miners drag; inflation data in focus
Australian stocks slipped slightly in early trading on Wednesday, with declines in mining shares contributing to the dip. Investor sentiment stayed subdued ahead of important local inflation data and a range of corporate earnings reports.
The S&P/ASX 200 index decreased by 0.4% to 8,038.4 as of 0042 GMT, following a 0.2% drop on Tuesday.
Stock Market LIVE Updates | Forex News
- The euro was little changed at $1.1175
- The Japanese yen was little changed at 144.04 per dollar
- The offshore yuan was little changed at 7.1237 per dollar
- The Australian dollar was little changed at $0.6790
Stock Market LIVE Updates | Global Markets Update
- S&P 500 futures fell 0.1% as of 9:08 a.m. Tokyo time
- Hang Seng futures fell 0.2%
- Japan’s Topix fell 0.1%
- Australia’s S&P/ASX 200 fell 0.5%
- Euro Stoxx 50 futures rose 0.1%
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