NIFTY Financial News

Day trading guide for today: Amid uncertainties associated with the Israel-Hamas war, global market sentiments continue to remain under sell off heat and Indian stock market ended lower on fifth day in a row on Wednesday. Nifty 50 index lost 159 points and closed at 19,122 levels, BSE Sensex corrected 522 points and ended at 64,049 mark whereas Bank Nifty index nosedived 319 points and closed at 42,832 levels.

Indian markets are likely to crash on Thursday fol... moreIndian markets are likely to crash on Thursday following losses in global peers as US yields rose, reviving fears that interest rates could stay higher for longer.

Buy or sell stocks for today: On account of uncertainties associated with the Israel-Hamas, strong US dollar and rising US Treasury yields, Indian stock market continue to remain under the grip of bears for fifth straight session on Wednesday. Nifty 50 index lost 159 points and closed at 19,122 levels, BSE Sensex corrected 522 points and ended at 64,049 mark whereas Bank Nifty index nosedived 319 points and closed at 42,832 levels.

Sensex closed 522.82 points, or 0.81%, lower at 64,049.06, while the Nifty 50 ended at 19,122.15, down 159.60 points, or 0.83%. “We expect Indian markets to remain volatile on the back of concerns over higher interest rates, ongoing Israel-Hamas war and mixed Q2 results. On the global front, investors will take cues from ECB interest rate decision on Thursday," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Sensex closed 522.82 points lower at 64,049.06, while the Nifty 50 ended at 19,122.15, down 159.60 points, or 0.83%. Nifty 50 formed a long bear candle on the daily chart, signaling back-to-back sharp declines in the market in the last two sessions. This also indicates a decisive downside breakout of the immediate supports around 19,300-19,250 levels.

₹4,236.60 crore, according to NSE data. DIIs bought equities resulting in an inflow of ₹3,569.36 crore, the exchange data showed.Oil steadied after jumping Wednesday on signs Israel will proceed with a ground invasion of Gaza, reviving concerns the conflict could escalate and threaten energy supplies.The 10-year yield has been catching up to the Federal Reserve’s main interest rate, which is above 5.25% and at its highest level since 2001 as the central bank tries to get inflation under control.In the second quarter of the fiscal year 2024, Axis Bank Ltd disclosed a net profit of ₹5,863 crore, demonstrating a 10% growth from ₹5,329.8 crore recorded in the corresponding quarter of the previous year.

MUMBAI : Indian stocks extended their decline for a fifth straight session on sustained selling by foreign and retail direct investors amid rising bond yields in the US, the Israel-Hamas war, which is now threatening to engulf other countries, and rising crude prices. Market experts expect stocks to fall further. Benchmark indices Nifty and Sensex fell more than 0.8% each to 19,122.15 and 64,049.06 on Wednesday as foreigners offloaded shares worth a provisional ₹4,236.6 crore and continued selling by retail, offsetting the ₹3,569.36 crore worth of buying by domestic institutions.

RBL Bank are the two stocks that are a part of the F&O ban list by the stock exchange for October 26. The NSE updates the list of securities in F&O ban for trade everyday. The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.

The NSE Nifty 50 index closed 0.83% lower at 19,122, while the S&P BSE Sensex fell 0.81% to 64,049. The blue chips closed at their lowest since June 28. Here's how analysts read the market pulse: «It was a sea of red at Dalal Street which was primarily clouded by lingering concerns about corporate India’s earnings which as of date was uninspiring and, most importantly, they could come under heavy pressure from inflation, an economic downturn, and soaring interest rates.

₹13,312.21 crore and bought stocks for ₹9,075.61 crore, resulting in an outflow of ₹4,236.60 crore, according to NSE data. Domestic institutional investors (DIIs) bought equities worth ₹9,638.55 crore and offloaded shares worth ₹6,069.19 crore, resulting in an inflow of ₹3,569.36 crore, the exchange data showed. The 30 share BSE Sensex tanked 522.82 points, or 0.81%, to end at 64,049.06.

IDFC Mutual Fund) announced the launch of Bandhan Nifty Alpha 50 Index Fund, an open-ended scheme tracking the Nifty Alpha 50 index. The scheme opened for public subscription on October 25, 2023, and will close on November 06, 2023.

CEO, Bajaj Finserv Asset Management said, “Our Banking and PSU Fund opens the door for investors to tap into the fixed income investment opportunities available in the banking and PSU space while enjoying the benefits of professional fund management. It is suitable for investors who want relatively stable investment options for their capital.

KMAMC said, “With the launch of Kotak Consumption Fund, we are offering a window for our investors to be a part of the country’s fast-evolving consumption story. It’s about tapping into the shift from basic to smart - from analog to digital, from feature phones to smartphones, and from single-brand to multi-brand retail choices.

Sikko Industries(up 4.37%), Fertilizers & Chemicals Tranvancore(up 2.12%), Deepak Fertilizers & Petrochemicals(up 2.06%), G S F C(up 1.71%), Coromandel International(up 0.69%), Madras Fertlizers(up 0.60%) and Krishana Phoschem(up 0.21%) stood among the top gainers. Aries Agro(down 3.76%), National Fertilizer(down 2.58%), ZUARIAGRO(down 1.79%), Agro Phos(down 1.55%), Rama Phosphates(down 1.45%), Paradeep Phosphates(down 1.43%), Mangalore Chemicals & Fertilizers(down 1.38%), Madhya Bharat Agro Products(down 1.21%), Southern Petrochemicals Industries(down 0.75%) and Gujarat Narmada Valley Fertilizers (down 0.67%) were among the top losers of the day.

Golden Crossover is and why it's an essential factor to consider when assessing stock movements. We will also spotlight five stocks that have recently experienced this pattern, offering investors a more informed perspective. The Golden Crossover is a critical indicator in technical analysis.

rupee closed 7 paise lower at 83.19 against the US dollar. Forex markets were closed on Tuesday on account of Dussehra.

The NSE Nifty index ended the session 159.6 points down at 19122.15, while BSE Sensex fell 522.82 points to 64049.06. In the Nifty index, Coal India Ltd.(up 1.37 per cent), Tata Steel Ltd.(up 1.13 per cent), Hindalco Industries Ltd.(up 0.99 per cent), Tata Consumer Products Ltd.(up 0.78 per cent) and State Bank of India(up 0.59 per cent) stood among the top gainers.

Jai Bala of Cashthechaos.com, says “the banking index has not had a red October for the last 10 years. But it is likely to do it for the first time in October since 2012 is itself a significant factor for the overall market. So be cautious. Holding cash is one of the toughest things to do. And for those who can manage to do that, they will be having a win year after year, half year after every half year. So having patience holding cash is the most important thing. ” What is the sanctity of breaching this 19,200 mark? 19,200 is not a significant support level but the market is probably bracing itself for a much bigger decline. At the moment, there is a significant breakdown in the Nifty Banking Index and the market leader, the FMCG stocks and the capital goods stocks. So basically, this looks like the start of a much bigger decline. This is just really a preamble.

Domestic benchmark index NSE Nifty ended 159.6 points down at 19122.15, while the BSE Sensex closed 522.82 points down at 64049.06. On the other hand, Welspun Invst, Macpower CNC Machine, Wealth First Port, Welspun India and Kewal Kiran Clo stocks hit their fresh 52-week highs today.

Harsha Upadhyaya, CIO-Equity, Kotak AMC, says “from a medium- to long-term perspective, we still continue to be quite positive on India from both earnings perspective as well as how markets are expected to behave. However, in the very short term given the kind of strong performance that we have seen and some reversal inflows as well as some red flags that I mentioned, probably markets would kind of show some weakness or consolidate at current level.” Upadhyaya also says that “although the earnings expectations are much higher in the midcap basket, I would say that most of that positiveness is also discounted in terms of valuations. I would say, if the markets go into a correction mode or into a decline, we will probably see more downside volatility on the midcap side rather than the largecap side.” Let us try and get your understanding of the current market movement. How is the market looking to you, talking about a few quarters down the line? Quite bullish from an undertone perspective I would say. However, for the past two months, we have seen some red flags emerging as well as foreign liquidity turning negative. For September and up until now in October, we have seen foreign institutional investors selling about $3 billion worth of Indian equities. We have also seen crude oil moving up beyond $90 per barrel level and monsoon which ended the season with the deficiencies of about 6% or so is also a red flag.

Rohit Srivastava, Founder & Market Strategist, Indiacharts.com, says “we are right now in the process of taking the 20-week average. Once we do that, once we start staying below the 19,400 mark, which we are doing now for quite a while, then we are headed towards 18,900-18,800. So that is going to be the next level that we are going to be watching out for.” What is your view on the charts? Do you think we could see a further fall for the benchmark indices? My sense is that markets have weakened on daily and weekly timeframes. We are seeing sell signals on momentum indicators for the key indices and what that really means is that we are right now in the process of taking the 20-week average. Once we do that, once we start staying below the 19,400 mark, which we are doing now for quite a while, then we are headed towards 18,900-18,800. So that is going to be the next level that we are going to be watching out for. It possibly could happen in the next couple of days the way it is moving right now. We will watch the current action till Friday or Monday.