NIFTY Financial News

PSU bank stocks, pullback seems likely in over stretched stocks like PNB, Bank of India, IOB and Central Bank, says Anand James, Chief Market Strategist at Geojit Financial Services. “The recent rallies in the PSU bank index have pushed the 14-D RSI above 70. A Doji candle formed in the daily time frame warrants indecision,” he says. Edited excerpts from an interview:

The NSE Nifty index was trading 15.75 points down at 20176.6, while BSE Sensex was down 107.81 points at 67730.82 at the time of writing this report. In the Nifty index, Mahindra & Mahindra Ltd.(up 3.93 per cent), HDFC Life Insurance Company Ltd.(up 2.76 per cent), Bajaj Auto Ltd.(up 2.50 per cent), Titan Company Ltd.(up 1.62 per cent) and Hero MotoCorp Ltd.(up 1.57 per cent) were among the top gainers. While Infosys Ltd.(down 1.28 per cent), HDFC Bank Ltd.(down 1.20 per cent), Wipro Ltd.(down 1.14 per cent), Hindalco Industries Ltd.(down 1.11 per cent) and Tech Mahindra Ltd.(down 1.08 per cent) were among the top losers in the index.

Benchmark NSE Nifty index fell 11.55 points to 20180.8 amid selling in frontline bluechip stocks. However, stocks such as J B Chemicals, Setubandhan Infra, Penta Gold, Sri Adhikari and Ratnaveer Precision, touched their fresh 52-week low. Overall, 27 shares traded in the green in Nifty50 index, while 23 traded in the red. In the Nifty 50 index, M&M, HDFC Life, Bajaj Auto, Titan Company and Hero MotoCorp were among top gainers, while Infosys, Hindalco, Tech Mahindra, HDFC Bank and Wipro traded in the red. The BSE Sensex was trading 93.55 points down at 67745.08 at 10:39AM(IST). Traders were seen piling up positions in Telecommunications, Glass, Holding Company, Defence and Auto sectors, while selling was visible in Banks, Irrigation & Allied Services, Power, Trading and Petrochemicals sectors.

Domestic benchmark index NSE Nifty fell 17.0 points to 20175.35, while the BSE Sensex traded 113.27 points down at 67725.36. On the other hand, KIOCL, IOB, UCO Bank, Punjab Sind Bank and GMR Power and Urban stocks hit their fresh 52-week highs today. In the Nifty 50 index, M&M, HDFC Life, Bajaj Auto, Titan Company and BPCL were among the top gainers on the NSE. Infosys, HDFC Bank, Wipro, Hindalco and Tech Mahindra were among the top losers.

Vedanta Ltd. traded 0.31 per cent up in Monday's trade at 10:52AM (IST).

DLF Ltd. traded 0.13 per cent up in Monday's trade at 10:47AM (IST).

Nifty traded in the negative territory in morning trade on Monday, mirroring weakness in other major Asian peers as investors exhibited caution as they prepared for a week marked by a series of central bank meetings with Fed meet outcome due on Wednesday, Bank of England (BoE) meet outlook on Thursday and Bank of Japan (BoJ) outcome due on Friday. Markets across the globe are expecting that the rate hikes have peaked and central banks will not lift rates from here on. However, inflation still remains above the central banks' targets in many countries.

Sobha Ltd.(up 0.83 per cent), Brigade Enterprises Ltd.(up 0.6 per cent), DLF Ltd.(up 0.46 per cent), Prestige Estates Projects Ltd.(up 0.33 per cent) and Oberoi Realty Ltd.(up 0.18 per cent) were among the top gainers. Phoenix Mills Ltd.(down 1.41 per cent), Indiabulls Real Estate Ltd.(down 0.89 per cent), Godrej Properties Ltd.(down 0.73 per cent), Mahindra Lifespace Developers Ltd.(down 0.41 per cent) and Macrotech Developers Ltd.(down 0.04 per cent) were the top losers on the index. The Nifty Realty index was down 0.16 per cent at 586.0 at the time of writing this report. Benchmark NSE Nifty50 index was down 15.6 points at 20176.75, while the BSE Sensex was down 101.48 points at 67737.15. Among the 50 stocks in the Nifty index, 30 were trading in the green, while 20 were in the red. Shares of Vodafone Idea, YES Bank, JP Power, Suzlon Energy and IOB were among the most traded shares on the NSE. Shares of KIOCL, GMR Power and Urban, IOB, UCO Bank and Adroit Infotech hit their fresh 52-week highs in today's trade, while J B Chemicals, Setubandhan Infra, Penta Gold, Sri Adhikari and CMI Ltd hit fresh 52-week lows in trade.

The chief investment officer at Nippon Life India Asset Management Ltd. says it’s increasingly difficult to find opportunities in the $3.8 trillion market, where benchmarks have just hit record highs.

Reliance Industries, Infosys, and HDFC Bank. The BSE Sensex was trading 265 points or 0.39% lower at 67,574.

rupee depreciated 16 paise to end at 83.19 a dollar. Concerns over elevated crude oil prices, strong greenback and a widening trade deficit limited the upside for rupee.

Day trading guide for today: On account of strong global cues, Dalal Street ended higher on third day in a row on Friday. NSE Nifty ended at record close of 20,192 levels after climbing to a new life-time high of 20,222 during Friday deals. BSE Sensex too had a record closing at 67,838 levels after climbing to a new peak of 67,927 mark.

Indian stock market indices Sensex and Nifty are expected to open lower on Monday tracking weak global cues. The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading at around 20,190 level as compared to the Nifty futures’ Friday close of 20,240.

₹10,000 per tonne. This marks an increase from the previous rate of ₹6,700 per tonne, which had been in effect for the past two weeks. The new tax rates are set to be implemented starting from Saturday, September 16.Additionally, in a notification issued by the Ministry of Finance, it was stated that the special additional excise duty (SAED) on diesel exports would be reduced to ₹5.50 per litre, down from the previous rate of ₹6 per litre.

Indian stock market indices, Sensex and Nifty are likely to open lower on Monday following weak global cues. Asian markets traded lower, while the US stock markets ended in the red last week. Foreign capital outflows, elevated crude oil prices and inflation concerns may cast shadow over the market, while strong domestic macroeconomic data with lower CPI and wholesale inflation are likely to provide comfort.

Investing.com-- Most Asian stocks fell on Monday as investors remained broadly risk-off before a string of major central bank rate decisions this week, with the Federal Reserve being the main point of focus.

Buy or sell stocks for today: Following strong global market sentiments after better-than-expected Chinese economic data, Indian stock market ended in green terriroty for third straight session. NSE Nifty ended at record close of 20,192 levels after climbing to a new life-time high of 20,222 during Friday deals.

«We expect the overall positive momentum to continue especially in the large cap while sectoral rotation is likely to be seen in the broader market,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded 21 points, or 0.10 per cent, at 20,187.50, signaling that Dalal Street was headed for positive start on Monday.

Nifty at 20,000 nearing valuations that might be uncomfortable and mid-cap and small-cap stocks already at red-hot levels, several investors are in a dilemma on whether to hold on to cash and put money into the market following a correction. Wealth managers agree that the various pockets of the market might be a tad too stretched but advice against staying away entirely.

Nifty could touch 20,600 if it manages to breach the 20,400 level. Analysts, however, said upsides would be tougher to come after the recent run-up and crucial support is at 19,900.

real estate investment trusts, infrastructure investment trusts, etc. They are seen as a one-stop solution for every investor’s asset allocation needs. But not all multi- asset funds are the same.