NIFTY Financial News

Avenue Supermarts Ltd. fell 0.02 per cent to Rs 3735.0 in Thursday's trade as of 10:25AM (IST) even as the benchmark Nifty ruled at 19348.05, up 0.6 points. The scrip had closed at Rs 3736.0 in the previous session.

Domestic benchmark index NSE Nifty gained 12.0 points to 19335.45, while the BSE Sensex traded 4.2 points up at 65091.45. On the other hand, Hercules Hoists, SRG Housing Fin, VELS Film Internatio, Pritika Engineering and Shalby stocks hit their fresh 52-week highs today. In the Nifty 50 index, Hindalco, Tech Mahindra, LTIMindtree, Maruti Suzuki and HCL Tech were among the top gainers on the NSE. Adani Ent., Adani Ports SEZ, Eicher Motors, BPCL and Bajaj Finance were among the top losers.

Gland Pharma Ltd.(up 2.08 per cent), GlaxoSmithKline Pharmaceuticals Ltd.(up 1.75 per cent), Natco Pharma Ltd.(up 0.75 per cent), Lupin Ltd.(up 0.59 per cent) and Dr.

Zomato Ltd. traded 1.06 per cent down at Rs 98.82 on Thursday at around 10:35AM (IST), while the benchmark BSE Sensex advanced 5.34 points to 65092.59. As many as 3,649,655 shares changed hands on the counter with a total value of Rs 3643.0 crore. The stock quoted a 52-week high price of Rs 102.85 and a 52-week low of Rs 44.35. On the technical charts, the 200-DMA of the stock stood at Rs 65.54, while 50-DMA was at Rs 84.48.

Jio Financial Services stock is likely to get excluded from the S&P BSE Sensex from today unless it hits the 5% lower circuit according to estimates from Nuvama. The stock, which hit yet another 5% upper circuit on multiple block deals in the opening trade, had ended with 5% gains in previous two trading sessions. The upper circuit is unlikely to have any impact on its exclusion from Sensex, the Nuvama report said. The day's high for Jio Financial shares stood at Rs 242.80 on the NSE and the stock witnessed strong volume action with 1.24 crore shares trading on the NSE after the block deal news was reported by ETNow. As per the Nuvama report, JIO’s 1.1% weight in Sensex 30 Index means passive selling may involve around 60 million shares, equivalent to roughly $180 million. Any decision on the deferment of exclusion will likely be announced by the BSE during market hours. As far as the Nifty indices are concerned, Nuvama does not see Jio getting deleted until «two consecutive days of the spun-off entity avoiding the price band (upper or lower)». Explaining it further, the brokerage said that no price band hit — upper or lower on Thursday and Friday will lead to exclusion on Monday September 4.

Markets had a thoroughly disappointing session. The key indices came off heavily from their high point before ending the day on a flat note.

The NSE Nifty index traded 1.35 points down at 19346.1, while BSE Sensex was up 54.34 points at 65141.59 as of 10:09AM(IST)on August 31. In the Nifty index, HCL Technologies Ltd.(up 1.27 per cent), LTIMindtree Ltd.(up 1.22 per cent), Tech Mahindra Ltd.(up 1.21 per cent), Hindalco Industries Ltd.(up 1.00 per cent) and Power Grid Corporation of India Ltd.(up 0.77 per cent) were among the top gainers. On the other hand, Adani Enterprises Ltd.(down 3.84 per cent), Adani Ports & Special Economic Zone Ltd.(down 2.79 per cent), Eicher Motors Ltd.(down 1.19 per cent), Bharat Petroleum Corporation Ltd.(down 0.91 per cent) and Sun Pharmaceutical Industries Ltd.(down 0.74 per cent) were among the top losers.

Sakthi Sugars(up 6.17%), MAGADHSUGAR(up 4.98%), Rana Sugars(up 3.96%), Triveni Engineering & Industries(up 2.32%), Simbhaoli Sugars(up 2.30%), AVADHSUGAR(up 2.20%), KCP Sugar & Industries(up 2.07%), K.M.Sugar Mills(up 1.79%), Rajshree Sugars & Chemicals(up 1.56%) and Dalmia Bharat Sugar & Industries(up 0.71%) were among the top gainers. DCM Shriram Industries(down 1.63%), Shree Renuka Sugars(down 0.95%), Ugar Sugar Works(down 0.55%) and Balrampur Chini Mills(down 0.21%) were among the top losers. The NSE Nifty50 index was trading 31.6 points up at 19379.05, while the 30-share BSE Sensex was up 150.21 points at 65237.46 at around 10:04AM. LTIMindtree Ltd.(up 1.37%), HCL Technologies Ltd.(up 1.33%), Tech Mahindra Ltd.(up 1.31%), Hindalco Industries Ltd.(up 1.18%), Power Grid Corporation of India Ltd.(up 0.89%), Titan Company Ltd.(up 0.86%), Axis Bank Ltd.(up 0.82%), Maruti Suzuki India Ltd.(up 0.82%), Infosys Ltd.(up 0.67%) and Tata Consultancy Services Ltd.(up 0.67%) were among the top gainers in the Nifty pack. On the other hand, Adani Enterprises Ltd.(down 2.89%), Adani Ports & Special Economic Zone Ltd.(down 2.07%), Eicher Motors Ltd.(down 1.04%), Bharat Petroleum Corporation Ltd.(down 0.65%), Asian Paints Ltd.(down 0.62%), Bajaj Finance Ltd.(down 0.45%), Sun Pharmaceutical Industries Ltd.(down 0.43%), Britannia Industries Ltd.(down 0.43%), Bharti Airtel Ltd.(down 0.36%) and HDFC Bank Ltd.(down 0.33%) were trading in the red.

rupee traded in a narrow range and appreciated by 1 paise to 82.62 against the US dollar in early trade on Thursday amid a positive trend in the domestic equity market. Outflow of foreign funds and relatively higher crude prices weighed on the domestic unit, according to forex traders. Investors are also awaiting the GDP data for the first quarter of the current fiscal that will be released later in the day. At the interbank foreign exchange, the domestic unit opened at 82.65 and traded between the peak of 82.58 and the lowest level of 82.73 against the greenback. Later, the rupee was trading at 82.62 against the dollar, registering a gain of 1 paise from its previous close. On Wednesday, the rupee closed at 82.63 against the dollar. The latest US data indicated that the pace of employment growth was less than expected in August, raising hopes for easing of interest rates by the Federal Reserve. Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said the dollar extended losses «on back of a disappointing US preliminary GDP number». «On the domestic front, GDP number will be released today; expectation is that in Q1 growth has accelerated by 7.7 per cent, driven by the services sector and greater capital expenditure. »If the number beat estimates, we are likely to see the rupee gain strength against the US dollar.

Bharat Forge Ltd. traded 0.69 per cent higher in Thursday's session at 10:10AM (IST).

monthly expiry and traders in the derivatives market can adopt a moderately bullish strategy with Nifty futures while taking a neutral view on Bank Nifty futures, an analyst recommended while spelling out his trading strategy for today. «The sell-off post the gap-up opening on Wednesday showcases the resilience of the bears as they swept away the gains and eventually dragged the index to the lower terrain and below 19,400. Technically, on a closing basis, there are hardly any alterations in the price chart, but with the big bearish candle formation, it is likely that the time-wise correction phase remains intact,» Osho Krishan, Senior Analyst, Technical & Derivative Research at Angel One said. Krishnan sees a strong support at 19,300 with the sheet anchor lying around the 19,250-19,200 zone and 19,500 acting as a strong resistance and only a decisive breakthrough will re-strengthen the undertone in his opinion. Analyst Kunal Shah, Senior Technical & Derivative analyst at LKP Securities also sees strong support in the 19,300-19,250 range and said that a failure to sustain above this level could potentially trigger a continuation of the downward movement.

GDP) data for the June quarter, Indian equity indices opened higher for the fourth straight session on Thursday, led by banking and IT stocks. The BSE Sensex was trading 147 points or 0.23% higher at 65,234. Nifty50 was trading at 19,375, up 28 points or 0.15% at around 9.18 a.m. The domestic GDP data for the April-June quarter is scheduled to be released post-market hours. From the Sensex stocks, Jio Financial Services, Maruti, Tata Steel, HCL Tech, and Tech Mahindra opened higher, while Bharti Airtel, Bajaj Finance, HDFC Bank, and Sun Pharma opened lower. Among individual stocks, Rail Vikas Nigam (RVNL) rose over 3% as the firm emerged as the lowest bidder for projects worth Rs 256 crore from Maharashtra Metro Rail Corporation.

labour market data raised expectations that the US Federal Reserve will not raise interest rates further. On Wednesday, the rupee ended 2 paise lower at 82.73 a dollar. Data showed US gross domestic product (GDP) increased at a 2.1% annualized pace in the last quarter, lower than the preliminary estimate of 2.4% growth.

“On the valuation front (P/BV), NIFTY has seen some time-wise correction and is currently trading at around 1x standard deviation,” says Deepak Ramaraju, Senior Fund Manager, Shriram AMC. In an interview with ETMarkets, Ramaraju said: “Midcaps are the most expensive of the pack, trading at 1.5x of that, and small caps are trading at 1x standard deviation” Edited excerpts:A proud moment for India when Chandrayaan 3 landed on the moon last week. How will India Inc. benefit from these space missions? The unsung heroes.It's indeed a proud moment for the entire nation.

BHEL) and Indiabulls Housing Finance. Stocks which have exited the ban include Escorts Kubota, GMR Airports Infrastructure, Hindustan Copper, Manappuram Finance, RBL Bank and Sun TV Network. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL.

Sensex ended 11 points higher at 65,087, while the broader Nifty inched up 4 points to settle at 19,347. Stocks that were in focus included names like GR Infraprojects, which rose 0.33%, BPCL, which fell 1.49%, and Hindustan Petroleum, whose shares declined 2.54% on Wednesday. Here's what Riches Vanara, Technical And Derivatives Analyst at StoxBox, recommends investors should do with these stocks when the ma The stock is trading in a symmetrical broadening wedge pattern on daily charts and seen reversing from lower end of the said pattern. The 14 period RSI is trading well above the 50 zone which confirms the momentum is intact. We recommend buying for targets of 1335 and 1380 with stops below 1240.BPCL — Buy The stock is trading in an ascending channel pattern and at current juncture price is at the lower end of the said pattern and we can expect a good bounce from hereon. The 14 period RSI is also seen reversing from its 50 zone, which confirms the price reversal.

Day trading guide for today: Following sell off in European market, Indian stock market lost intraday gains after profit booking trigger in last hour of Wednesday session. However, NSE Nifty and BSE Sensex ended higher with marginal gains whereas Bank Nifty ended in red territory. Nifty 50 index added 4 points and ended at 19,347 levels while BSE Sensex went up 11 points and closed at 65,087 mark.

Also Read: 5 things that changed for market overnight: Gift Nifty, US GDP among key global cues for Sensex today Here’s what to expect from Nifty and Bank Nifty today: “The Nifty index encountered a robust resurgence of bearish momentum, leading to considerable selling pressure at elevated levels. Amidst this downturn, the addition of substantial open interest in the 19500 CE options signifies that the index is poised to expire below the 19,500 mark. In terms of technical levels, the index's immediate support on the downside is evident in the range of 1,9300-19,250.

₹1,323 crore during the session.Data on gross domestic product (GDP) showed that the US economy expanded 2.1% in the second quarter, slower than a preliminary estimate of 2.4%.Stocks ended modestly higher Wednesday, extending Wall Street's recent winning streak to its fourth day in a row and chipping away more of the market's losses this month.After a choppy day of trading, the S&P 500 closed 0.4% higher. The benchmark index remains down 1.6% for August, with one trading day left in the month.

Investors would closely watch the GDP data due later in the evening. «Given mixed global cues and derivatives monthly expiry, Nifty is likely to remain in consolidation mode while sector rotation would lead to stock-specific action,» 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 muted startGIFT Nifty on the NSE IX traded 10 points, or 0.05 per cent, lower at 19,468.50, signaling that Dalal Street was headed for muted start on Thursday.

Buy or sell stocks for today: On account of last hour selling, Indian stock market lost intraday gains on Wednesday. NSE Nifty and BSE Sensex managed to end higher with marginal gains whereas Bank Nifty index lost 262 points and ended at 44,232 levels. Nifty 50 index added 4.80 points and finished at 19,347 levels while BSE Sensex went up 11.43 points and closed at 65,087 mark.