Expert’s View On Nifty, Sensex: Nifty May Face Resistance At 24,900
Technically, a reversal formation on intraday charts and a bearish candle on daily charts indicate temporary weakness. We believe that as long as the market is trading below 24,900/81800, the weak sentiment is likely to continue, said Shrikant Chouhan, head, equity research, Kotak Securities
On the downside, 24,775/81200 would be the immediate support zones for traders. Below this, the market could slip to 24,675-24,625/80900-80700. On the flip side, above 24,900/81800, the sentiment could change. If it moves above this level, it could rally up to 25,000-25,100/82100-82500, the brokerage said.
Stock Market Live Update: Ugro Capital Jumps Nearly 8%
Ugro Capital share price jumped nearly 8% on Wednesday as it set to acquire SME lending company Profectus Capital for Rs 1,400 crore payable in a single tranche.
Ugro Capital share price advanced 7.89% to Rs 185, the highest level since May 22.
Stock Market Live: BSE Share Price Plummets
Share price of BSE Ltd. fell over 6% on Wednesday following the announcement of a shift in the expiry day for stock derivatives to Thursday. This decision is anticipated to negatively impact the exchange’s trading volumes and profitability.
Sectoral Performance At Open: Nifty Media Underperforms
On NSE, 11 sectoral indices declined, two advanced, and two remained flat out of 15. The NSE Nifty Media declined the most, and the NSE Nifty Realty rose the most.
Nifty Contributors: HDFC Bank & Kotak Mahindra Bank Weigh
HDFC Bank Ltd., Kotak Mahindra Bank Ltd., Axis Bank Ltd., Infosys Ltd., and Power Grid Corp weighed on the Nifty 50 index.
Reliance Industries Ltd., IndusInd Bank Ltd., Tata Consultancy Services Ltd., Oil and Natural Gas Corp, and Trent Ltd. added to the Nifty 50 index.
Stock Market Today: Nifty, Sensex Extend Losses At Wednesday Open
The NSE Nifty 50 and BSE Sensex extended losses at open on Wednesday as HDFC Bank Ltd. and Kotak Mahindra Bank Ltd. shares weighed. The indices were trading 0.08% and 0.11% down, respectively as of 9:19 a.m.
Stock Market Live: Inspection At Glenmark Pharma’s Monroe Facility Ends
Glenmark Pharma has announced that the US FDA has concluded its inspection of their Monroe manufacturing facility, which took place between June 9-17. Following the inspection, the FDA issued Form 483 with five observations. This information was disclosed in an exchange filing.
Stock Market Live: Reliance Infrastructure Allots Shares Worth Rs 300 Crore
Reliance Infrastructure has announced the allotment of 1.25 crore shares valued at Rs 300 crore following the accelerated conversion of warrants. The details were disclosed in an exchange filing.
Yield On The 10-Year Bond Opens Flat
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The 10-year bond yield opened flat at 6.33%
Source: Cogencis
Rupee Opens Weaker Against US Dollar
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Rupee opens 11 paise weaker against US dollar at 86.35
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It closed at 86.24 a dollar on Tuesday.
Source: Bloomberg
Stock Market Today: DLF Sells Properties Worth Rs 11,000 Crore
DLF Ltd. sold properties worth over Rs 11,000 crore at luxury project in North Phase, the exchange filing said.
Stock Market Today: Dreamfolks Services Launches Coffee At Mall Services
Dreamfolks Services has launched an exclusive ‘Members-Only’ Club Access & Innovative’ coffee at malls’ service, the exchange filing said.
Stock Market Live: BSE Earnings Per Share Estimates Cut As F&O Expiry Shift To Affect Volume, Profitability
BSE Ltd. is likely to see a decline in its volume and profitability after its expiry day is moved to Thursday, according to analysts. Most brokerages have trimmed the earning-per-sharing estimates for India’s oldest stock exchange.
The Securities and Exchange Board of India granted the National Stock Exchange Tuesday as its stock derivatives expiry day, which left BSE with Thursday. This will come into effect in September.
DMart’s First Major Store In UP A Positive But Morgan Stanley Remains ‘Underweight’
Avenue Supermarts Ltd., the parent company of DMart, has announced the opening of its first major store in Uttar Pradesh, India’s most populous state. The new store, located at Ratan Mall in Agra, marks a strong step for retail giant, which has previously only had a presence in Ghaziabad, part of the National Capital Region.
Read the article here.
Gold Takes A Breather Amid Israel-Iran Conflict
Gold prices took a breather in Asia session amid Israel-Iran conflict. A set of weak economic data from the US raised hopes for a rate cut from the US Federal Reserve. However, in the ongoing Federal Open Market Committee meet, most investors are expecting the rate-setting panel to stand pat.
The Bloomberg spot gold was trading 0.12% down at $3,373.40 an ounce as of 8:03 a.m.
Oil Prices Off Highs In Asia Session
Oil prices erased gains in Asia session. In the previous session it rallied 4% as crude oil-market volatility advanced amid mounting tensions regarding Israel and Iran conflict.
Brent crude settled 4.40% higher at $76.45 a barrel Tuesday. It was trading 0.09% down at $76.38 a barrel.
Asia Market Update: Mixed As Israel-Iran Tension Rises; FOMC Decision In Focus
Markets across Asia were trading on a mixed note as investors monitor the unfolding situation between Israel and Iran. US President Donald Trump has met his national security team in Washington DC after asking for a surrender from Iran’s side on social media.
The Nikkei 225 and KOSPI were trading 0.44% and 0.65% higher, respectively. The Hang Seng and S&P ASX 200 were trading 0.48% and 0.07% down, respectively as of 7:26 a.m.
US Market Update: S&P 500 And Dow Jones Future Trade With Marginal Gains
US futures were trading slightly higher on Wednesday morning as traders assessed the Israel and Iran’s situation after US President Donald Trump’s call for Iran’s surrender. Market participants also await the rate decision from the US Federal Reserve.
The S&P 500 and Dow Jones Futures were trading 0.03% and 0.09% higher, respectively. The Nasdaq 100 future was trading 0.13% higher.
On Tuesday, the S&P 500 and Dow Jones Industrial Average ended 0.70% and 0.84% down, respectively. The Nasdaq Composite ended 0.91% down as fear of US’s involvement in the middle-east increased.
GIFT Nifty Implies Higher Open; BSE, DMart, Railtel, Ugro Shares In Focus
The GIFT Nifty was trading 0.08% or 20 points higher at 24,822.50 as of 6:40 a.m., which implied a slightly higher start for the benchmark Nifty 50 index.
Investors may monitor share prices of BSE Ltd. Avenue Supermarts Ltd., Railtel Corp, Ugro Capital Ltd.
The benchmark equity indices resumed their decline on Tuesday, dragged by share prices of HDFC Bank Ltd. and Reliance Industries Ltd.
The NSE Nifty 50 ended 93.1 points or 0.37% lower at 24,853.4, while the BSE Sensex closed 212.85 points or 0.26% down at 81,583.3.
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