NIFTY Financial News

Marico Ltd. traded 0.49 per cent higher in Wednesday's session at 10:35AM (IST).

Page Industries Ltd. gained 0.54 per cent to Rs 39346.0 in Wednesday's trade. It hit a high of Rs 39399.6 and low of Rs 39232.75 during the session.

Gland Pharma(up 3.33 per cent), Dr Reddys Laboratories(up 3.18 per cent), Glaxosmithkline Pharmaceuticals(up 2.29 per cent), Natco Pharma(up 1.73 per cent) and Ipca Laboratories(up 1.56 per cent) were among the top gainers. Divis Laboratories(down 2.01 per cent), Sanofi India(down 0.78 per cent), Cipla(down 0.75 per cent), Abbott India(down 0.32 per cent) and Sun Pharmaceutical Industries(down 0.08 per cent) were the top losers on the index.

Lupin Ltd. gained 0.98 per cent to Rs 1094.4 in Wednesday's trade as of 10:05AM (IST). It hit a high of Rs 1108.95 and low of Rs 1088.25 during the session.

Nagarjuna Fertilizers & Chem(up 9.60%), Gujarat Narmada Valley Fertilizers (up 1.85%), Rama Phosphates(up 1.52%), Coromandel International(up 0.63%), Khaitan Chemicals & Fertilizers(up 0.62%), ZUARIAGRO(up 0.61%), Mangalore Chemicals & Fertilizers(up 0.48%), Paradeep Phosphates(up 0.45%), National Fertilizer(up 0.45%) and Agro Phos(up 0.29%) were among the top gainers. G S F C(down 4.18%), Madras Fertlizers(down 3.64%), KRISHANA(down 1.87%), Rashtriya Chemicals & Fertilizers(down 1.38%), Chambal Fertilisers & Chemicals(down 0.75%), Fertilizers & Chemicals Tranvancore(down 0.43%), Sikko Industries(down 0.18%) and Madhya Bharat Agro Products(down 0.08%) were among the top losers.

Tech Mahindra(up 0.57 per cent) and Coforge(up 0.28 per cent) were among the top gainers. MPhasis(down 1.43 per cent), HCL Technologies(down 1.32 per cent), Tata Consultancy(down 1.01 per cent), Persistent Systems(down 0.88 per cent) and L&T Technology(down 0.6 per cent) were the top losers on the index.

rupee appreciated by 10 paise to 82.81 against the US dollar in early trade on Wednesday gaining ground from the 8-month low level amid weakening American currency against major rivals overseas. However, weak equity markets, outflow of foreign funds and crude prices breaching USD 85 per barrel weighed on the local unit, said analysts. Participants were trading cautiously awaiting the US inflation data, the UK's GDP number and RBI's monetary policy decision to be announced on Thursday.

Markets refused to take any directional bias. The key indices consolidated again with the banking space relatively outperforming the broader markets.

Mahindra & Mahindra(up 0.82 per cent) and Tata Motors(up 0.24 per cent) were among the top gainers. Balkrishna Industries(down 1.52 per cent), Hero MotoCorp(down 1.31 per cent), TIINDIA(down 1.24 per cent), MRF(down 1.13 per cent) and Bharat Forge(down 0.86 per cent) were the top losers on the index.

real estate as a concern, Reuters reported. The banking stocks downgraded by Moody's declined between 1.7% and 2.1%.

Also Read: What changed for market overnight: Gift Nifty to global market cues for Sensex today The Nifty index managed to close above the significant 21-day EMA and maintained support above 19,500 points. “A positive trend is anticipated as long as the index holds above 19,500, with resistance at 19,700 and potential for a rally towards 20,000," said Rupak De, Senior Technical analyst at LKP Securities.

EIH Ltd, the parent company of Oberoi Hotels, has reported a substantial 61% increase in its consolidated net profit for the initial quarter of the fiscal year. Concurrently, the company's revenue also experienced a noteworthy surge of 26.7% in comparison to the same period from the previous year.During the quarter ending on June 30, the hospitality firm achieved a profit after tax amounting to ₹106 crore, demonstrating a significant rise from ₹69.44 crore recorded in the corresponding quarter of the preceding fiscal year.The total income from operations for the company reached ₹522.6 crore, showcasing a substantial growth from ₹412.33 crore in the initial quarter of the previous year.

Also Read: Buy or sell: Vaishali Parekh recommends buying in 3 stocks today - 9 August Japan’s Nikkei 225 fell 0.24%, while the Topix declined 0.3%. South Korea’s Kospi rallied 0.88%, while the Kosdaq gained 1%. In Australia, S&P/ASX 200 was trading flat.

RBI policy outcome. As we move towards the end of first quarter results season, action will likely shift to macro factors, with economic data due for release during the week. «We expect the market to consolidate, while interest sensitive sectors are likely to be in focus,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 20000 zones while an immediate trading range in between 19300 to 19700 zones. 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 45 points, or 0.23 per cent, higher at 19,605.50, signaling that Dalal Street was headed for positive start on Wednesday.

Day trading guide for today: Domestic equity benchmarks Sensex and Nifty ended lower during Tuesday’s session on weak global cues, even as the second-rung midcap and smallcap indices scored gains during the session. China's weak economic data weighed on the overall sentiment in a sign of sluggish post-COVID recovery. Sensex opened 95 points higher at 66,048.81 against the previous close of 65,953.48 but failed to hold altitude, falling about 201 points to hit the intraday low of 65,752.63.

Nifty and Sensex ended in red on Tuesday's session as investors continued to stay on caution in light of two significant events, the RBI's monetary policy and the US inflation data due out this week. The domestic markets' sentiment was also dented due to ongoing foreign fund outflows and a negative trend in Asian and European markets. On Tuesday, foreign institutional investors (FIIs) continued to offload shares of Indian companies worth ₹711.34 crores for the nineth straight session.

trades as the market failed to find momentum with overseas investors turning net sellers. Analysts do not expect a fall unless the Nifty closes below a technical support of 19500. Investors and traders remained cautious ahead of the Reserve Bank of India's monetary policy announcement on August 10 and the US inflation data expected later this week.

₹537 crore during Thursday's session. As per the NSE data, FIIs cumulatively bought ₹10,721.75 crore of Indian equities, while they sold ₹11,433.09 crore --- resulting in an outflow of ₹711 crore. Meanwhile, DIIs infused ₹8,809.11 crore and offloaded ₹8,271.80 crore, registering an overall inflow of ₹537.31 crore.

Nifty to increase further to 20,500 by December 2023 after its US economics team recently modified their perspective from one of a 'mild recession' to one of 'no recession' in the US. In its analysis, the brokerage claimed that if this outcome occurs, it will allay the market's main worry and enable sustained valuation growth.

The NSE Nifty index ended the session 26.45 points down at 19570.85, while BSE Sensex fell 106.98 points to 65846.5. In the Nifty index, Hero MotoCorp Ltd.(up 3.82 per cent), SBI Life Insurance Company Ltd.(up 3.59 per cent), Cipla Ltd.(up 3.50 per cent), Tech Mahindra Ltd.(up 1.84 per cent) and Wipro Ltd.(up 1.26 per cent) stood among the top gainers.

Nifty on Tuesday ended about 26 points lower to form a small-bodied bearish candle with a long lower shadow on the daily chart. The pattern indicates that buying was visible at base but momentum and follow-up was missing. Now it has to hold above 19560 zones for an up move towards 19700 and 19800 zones whereas supports are placed at 19500 and 19420 zones, said Chandan Taparia of Motilal Oswal.