NIFTY Financial News

By Munsif Vengattil and Dhanya Skariachan

Shares of Federal Bank(up 2.27 per cent), Punjab National Bank(up 1.63 per cent), HDFC Bank(up 1.04 per cent), Axis Bank(up 0.72 per cent) and Kotak Mahindra Bank(up 0.65 per cent) ended the day as top gainers in the pack. On the other hand, Bandhan Bank(down 0.42 per cent) and IDFCBANK(down 0.05 per cent) finished as the top losers of the day. The Nifty Bank index closed 0.6 per cent up at 44494.65. Benchmark NSE Nifty50 index ended up 40.25 points at 19306.05, while the BSE Sensex stood up 110.09 points at 64996.6. Among the 50 stocks in the Nifty index, 29 ended in the green, while 21 closed in the red. Shares of Vodafone Idea, JP Power, Suzlon Energy, Zomato and Ibull Housing Fin were among the most traded shares on the NSE. Shares of Lords Chloro, A G Universal, Sahana System, Ravinder Heights and Manugraph India hit their fresh 52-week highs in today's trade, while Kshitij Polyline, Cerebra Integrat, Shekhawati Poly, Setubandhan Infra and Shrenik hit their fresh 52-week lows.

Reliance Industries share price fell over 1% as Mukesh Ambani delivered speech at 46th AGM. Sensex closed 110.09 points, or 0.17 per cent, higher at 64,996.60 while the Nifty ended at 19,306.05, up 40.25 points, or 0.21 per cent.

Nifty snapped their two-day losing run on Monday on gains in select heavyweights, including HDFC Bank, Larsen & Toubro and Mahindra & Mahindra amid largely positive global cues after China announced steps to give a boost to its market. China cut the stamp duty on stock trading by fifty per cent, starting Monday. Besides, it also said it will slow the pace of initial public offerings (IPOs).

Marico Ltd. traded 0.0 per cent in Monday's trade at 01:54PM (IST).

United Spirits Ltd. traded 0.85 per cent down at Rs 999.2 on Monday at around 01:29PM (IST), while the benchmark BSE Sensex advanced 257.95 points to 65144.46. As many as 5,897 shares changed hands on the counter with a total value of Rs 5911.0 crore. The stock quoted a 52-week high price of Rs 1050.0 and a 52-week low of Rs 730.9. On the technical charts, the 200-DMA of the stock stood at Rs 859.68, while 50-DMA was at Rs 966.14.

Bank of Baroda gained 0.15 per cent to Rs 190.05 in Monday's trade as of 12:38PM (IST). It hit a high of Rs 190.75 and low of Rs 189.5 during the session. The stock quoted a 52-week high price of Rs 210.8 and a low of Rs 121.05.

global market sentiment. Both the Sensex and the Nifty50 are down over 2 per cent in August so far amid concerns over the resurgence of inflation, chatter around more rate hikes by the US Fed, elevated US bond yields and the dollar index and rich valuation of the Indian market. Experts are of the view that the market's near-term outlook is hazy as it is struggling to find a positive trigger.

Even as the Nifty and Sensex consolidates with corrective moves in range bound mode. The mood on the street is still bullish and “hope” continues to be the dominant factor on the street.

GAIL (India) Ltd. gained 0.9 per cent to Rs 117.5 in Monday's trade as of 11:52AM (IST). The stock hit a high price of Rs 117.9 and low of Rs 116.25 during the session. The return on equity (ROE) for the stock stood at 8.64 per cent.

RTNPOWER(up 8.41%), Jaiprakash Power Ventures(up 6.58%), Suzlon Energy(up 4.91%), Alstom T&D India(up 3.69%), Transformers and Rectifiers(India)(up 3.21%), KPI Green Energy(up 2.07%), Gujarat Industries Power(up 1.85%), Inox Wind Energy(up 1.49%), GE Power India Limited(up 1.45%) and Power Grid Corporation of India(up 1.36%) were among the top gainers. Indo Tech Transformers(down 3.08%), Adani Power(down 1.42%), Orient Green Power Company(down 1.41%), Inox wind(down 1.32%), Adani Energy Solutions(down 1.22%), ADANIGREEN(down 0.77%), Voltamp Transformers(down 0.58%), Indowind Energy(down 0.38%), Energy Development Company(down 0.31%) and Karma Energy(down 0.23%) were among the top losers. The NSE Nifty50 index was trading 57.45 points up at 19323.25, while the 30-share BSE Sensex was up 181.15 points at 65067.66 at around 11:20AM. Cipla(up 2.12%), Bharat Petroleum Corporation(up 1.84%), Larsen & Toubro(up 1.53%), Mahindra & Mahindra(up 1.44%), Sun Pharmaceutical Industries(up 1.42%), Power Grid Corporation of India(up 1.36%), Maruti Suzuki(up 1.23%), HDFC Bank(up 0.9%), Coal India(up 0.81%) and UltraTech Cement(up 0.71%) were among the top gainers in the Nifty pack. On the other hand, Adani Enterprises(down 1.13%), Bajaj Finance(down 0.75%), Adani Ports & Special Economic Zone(down 0.64%), Bajaj Finserv(down 0.62%), Britannia Industries(down 0.53%), Bharti Airtel(down 0.46%), Nestle India(down 0.4%), Tech Mahindra(down 0.38%), Hindustan Unilever(down 0.33%) and HDFC LIFE INSURANCE(down 0.31%) were trading in the red.

mutual funds having exposure to this segment, as the moolah chasing it is momentum money that could put investors to greater risks when markets correct, experts tell ETMarkets, while warning against getting enticed into investing more, in case small caps rally up further from here. Mutual funds having exposure purely to small cap stocks have seen inflows of Rs 19,784 crore in six months ended July which is nearly double from the inflows seen in midcap funds at Rs 10,304 crore. In contrast, largecap funds have been at the receiving end of investors’ ire with outflows of Rs 3,974.10 crore. The traction towards small cap stocks has been riding on high returns they have yielded, this year.

Punjab National Bank(up 2.44 per cent), HDFC Bank(up 0.83 per cent), Federal Bank(up 0.5 per cent), Bandhan Bank(up 0.47 per cent) and Axis Bank(up 0.21 per cent) were among the top gainers. ICICI Bank(down 0.37 per cent), AU Small Finance Bank(down 0.27 per cent) and IDFCBANK(down 0.16 per cent) were the top losers on the index. The Nifty Bank index was up 0.24 per cent at 44336.55 at the time of writing this report. Benchmark NSE Nifty50 index was up 52.45 points at 19318.25, while the BSE Sensex was up 155.92 points at 65042.43. Among the 50 stocks in the Nifty index, 32 were trading in the green, while 18 were in the red. Shares of JP Power, Suzlon Energy, Vodafone Idea, Zomato and Ibull Housing Fin were among the most traded shares on the NSE. Shares of Lords Chloro, A G Universal, Ravinder Heights, Jullundur Motor and Zeal Global Services hit their fresh 52-week highs in today's trade, while Kshitij Polyline, Cerebra Integrat, Setubandhan Infra, Shrenik and FutureLifestyleFash hit fresh 52-week lows in trade.

Glenmark Pharmaceuticals(up 2.52 per cent), Gland Pharma(up 2.19 per cent), Granules India(up 1.53 per cent), Zydus Lifesciences(up 1.5 per cent) and Cipla(up 1.48 per cent) were among the top gainers. Abbott India(down 0.35 per cent) and Laurus(down 0.03 per cent) were the top losers on the index. The Nifty Pharma index was up 1.01 per cent at 15177.35 at the time of writing this report. Benchmark NSE Nifty50 index was up 50.9 points at 19316.7, while the BSE Sensex was up 128.35 points at 65014.86. Among the 50 stocks in the Nifty index, 34 were trading in the green, while 16 were in the red. Shares of Suzlon Energy, JP Power, Vodafone Idea, Zomato and Ibull Housing Fin were among the most traded shares on the NSE. Shares of Lords Chloro, A G Universal, Ravinder Heights, Agarwal Corp and Jullundur Motor hit their fresh 52-week highs in today's trade, while Kshitij Polyline, Cerebra Integrat, Setubandhan Infra, FutureLifestyleFash and Penta Gold hit fresh 52-week lows in trade.

On the BSE, Ascensive Educare(down 9.98 per cent), Mukta Agriculture(down 9.61 per cent), EP Biocomposites(down 8.49 per cent), Dynamic Ind(down 8.23 per cent) and Saianand Commercial(down 8.16 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 33 stocks traded in the green, while 16 stocks traded in the red. The Nifty index was trading 57.35 points up at 19323.15. On the BSE, Decorous Investme, A F Enterprises, Colorchips New Media, Karnavati Finance Lt and Neogem India hit their fresh 52-week lows, while BITS Ltd, Olatech Solutions, Auro Labs, Ravinder Heights and Tierra Agrotech touched their fresh 52-week highs.

The NSE Nifty index was trading 32.55 points up at 19298.35, while BSE Sensex was up 75.83 points at 64962.34 at the time of writing this report. In the Nifty index, Bharat Petroleum Corporation Ltd.(up 1.58 per cent), Mahindra & Mahindra Ltd.(up 1.40 per cent), Power Grid Corporation of India Ltd.(up 1.38 per cent), Cipla Ltd.(up 1.36 per cent) and Sun Pharmaceutical Industries Ltd.(up 1.30 per cent) were among the top gainers. While HCL Technologies Ltd.(down 1.14 per cent), Bajaj Finance Ltd.(down 0.64 per cent), Hindustan Unilever Ltd.(down 0.63 per cent), Bharti Airtel Ltd.(down 0.54 per cent) and Asian Paints Ltd.(down 0.54 per cent) were among the top losers in the index.

«When you are able to make a 5% risk-free rate in the US, then that is obviously going to be something that will put equity valuations all over the world into a question mark, so that is one thing that we need to keep in mind,» says Mahesh Nandurkar, Head of Research & MD, Jefferies.What is your market view after the recent rally, is it time now for markets to consolidate or the upside in the market is still left in the near term?Yes, I think the markets have had a decent run and my sense is that it is not simply because of the reason that there could be a consolidation phase ahead but also the other global risk that we need to keep in mind is the significantly higher US treasury yields. I mean, the risk-free rates in the US have gone back up to the peak levels that we saw back in March. So, when you are able to make a 5% risk-free rate in the US, then that is obviously going to be something that will put equity valuations all over the world into a question mark, so that is one thing that we need to keep in mind. Also, from the India standpoint, I think the Indian inflation itself was a big negative surprise, the last print that is, and my sense is that the inflation will probably stay at an elevated level at least for the next one quarter or so, so that will also push out the rate cut probabilities that some people were building in for the near term. So, yes, those are the reasons why I think there could be a breather, there could be a consolidation phase in the market over the next, say, one to two quarters or so.

DLF Ltd. gained 1.94 per cent to Rs 484.15 in Monday's trade.

NEW DELHI: If Nifty fails to sustain above 19250, it's likely to experience a significant downward movement, says Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities. “This potential downside could extend towards the levels of 19000 and 18900. In this scenario, a cautious approach is advised, considering the prevailing selling sentiment,” he says in an interview. Edited excerpts:RIL, which ended the week down over 3%, was the biggest drag on Nifty during the week even when buying was seen in financials and IT stocks. How does the Nifty trade setup look ahead of the monthly expiry?During the entire August series, the index has encountered consistent selling pressure from elevated levels.

Day trading guide for today: On account of weak global market cues, Indian stock market ended downside on second day in a row on Friday. NSE Nifty went down 120 points and ended at 19,265 levels, BSE Sensex finished 365 points southward at 64,886 mark whereas Bank Nifty index corrected 264 points and closed at 44,231 levels. NSE Cash market volumes were higher as compared to recent average.

Nifty, are likely to open higher Monday amid positive global cues. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading flat at around 19,275 level as compared to the Nifty futures’ previous close of 19,223.60.