Share Market LIVE: Sensex ends 123 points lower, Nifty closes above 15,850; Reliance Industries, SBI top drags – The Financial Express

Share Market Today, Share Market LiveIndia VIX jumped 6% on Monday.
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Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets witnessed a volatile trading session on Monday, closing in the red. S&P BSE Sensex closed 123 points or 0.23% lower at 52,852, while the NSE Nifty 50 index closed 31.6 points or 0.20% lower at 15,824. Broader markets closed mixed with smallcap indices on NSE closing with gains. Bank Nifty closed 0.24% lower. India VIX jumped 5.87%. State Bank of India and Reliance Industries Ltd were the top drags, falling 1.3% each, followed by Mahindra & Mahindra, Tech Mahindra, and Larsen & Toubro. Among the gainers were Bajaj Finserv, jumping 2.46%, followed by Ultratech Cement, Sun Pharma, and Titan

Broader markets closed mixed on Monday with smallcap indices surging higher. India VIX jumped 5.95%.

Bajaj Finserv was up 2.56%, followed by Ultratech Cement, Titan, and Tata Steel as the top Sensex gainers on Monday. 

Nifty IT, Nifty Media, Nifty Metal, and Nifty Pharma were the only sectoral gainers on NSE just ahead of the closing bell. 

Smallcap indices on NSE were up with gains on Monday afternoon. The Nifty Smallcap 50 index was up 0.19% while the Nifty Smallcap 100 gained 0.36%. Nifty 50, however, was in the red.

Sensex and Nifty extended their losses on Monday with minutes left for the closing bell. Sensex was down more than 100 points while Nifty 50 was nearing 15,800. 

State Bank of India was down 1.27%, followed by Reliance Industries, Larsen & Toubro, Tech Mahindra, and HDFC.

Ahead of the closing bell, Zomato’s stock has extended gains and is now up 9.6% trading at Rs 138.35 per share. Zomato shares hit a fresh all-time high of Rs 139 per share earlier today. 

Bank Nifty index was down 0.21% on Monday with less than an hour left till the closing bell. RBL Bank, Bandhan Bank, PNB, and State Bank of India were top laggards.

Mukesh Ambani’s Reliance Industries Ltd (RIL) was down in the red on Monday as investors reacted to the company’s April-June quarter results. RIL reported a net profit at Rs 12,273 crore in the first quarter of the financial year, down 7.25% on-year basis even though revenue of the company rose 58.2% to reach Rs 1.44 lakh crore, as compared to Rs 91,238 crore in the same period a year. The oil-to-telecom conglomerate was trading at Rs 2,086 per share, down 0.86% on Monday. The stock has gained 5% so far this year, adding to its 97% rally since the end of March 2020.

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Newly listed food-tech firm Zomato continued to rise higher on Monday morning. The stock listed in the stock exchanges last Friday at a strong premium to the IPO price. On Monday the stock was trading 4% higher.

Check live price: Zomato

Rolex Rings IPO opens Wednesday. Investors can bid for the issue in the price band of Rs 880-900 per share. The issue consists of a fresh issue of equity shares and an offer for sale (OFS).

Glenmark Life Sciences’ Rs 1,514 crore initial public offering (IPO) opens for subscription tomorrow, July 27. The issue will consist of a fresh issue of equity shares worth Rs 1,060 crore and an offer for sale by existing shareholders worth R 453 crore. Glenmark Life Sciences’ shares were trading at a 20% premium ahead of the IPO in the unlisted space. A subsidiary of Glenmark Pharmaceuticals, Glenmark Life Sciences is a developer and manufacturer of select high value, non-commoditized active pharmaceutical ingredients. Glenmark Life Sciences’ public issue will be the fifth IPO to enter Dalal Street so far this month. The stock is likely to list on the bourses next month.

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The long legged Doji of Friday indicates major indecisiveness, severely derailing the bullish momentum that has been on since reversing the low of 20th Jul. This pattern as such is not dangerous but given how easily bears got upper hand at the key resistance region of the 15870s, the prospects of 16100-300 appears significantly reduced. However, if Nifty manages to float above 15760 after early weakness, bulls could re group. Inability to do so, could be a signal that the month’s lower range extremity of 15600s could be broken, exposing 15450-15250. But, VIX being low, a collapse is also not among the initially favoured moves.

~ Geojit Financial Services

India VIX, the volatility gauge, slipped from its highs but was still in the green. Often called the fear gauge of domestic markets, India VIX was up 2.99% on Monday. 

Sensex was above 53,000 mark on Monday Morning while the Nifty 50 was inching closer to 15,900. 

“The markets seem to be very lethargic! We have been trading in this range for a very long time. 15400-15900 continues to remain the lackluster zone for the Nifty and until we do not get past either ends, we will not see a meaningful move. The technical charts still suggest a positive bias and hence dips or corrections which take the markets closer to the lower end of the range can be utilized to accumulate long positions for higher targets,” said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

Commodity prices traded mixed with bullion prices witnessed a decline on a stronger dollar and strong equity indices despite of rising virus cases.  Crude oil prices ended in green following a strong recovery on higher demand outlook while base metals kept firm trading on-demand recovery and lower inventories. 

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“15600 – 15900 range has held well for the Nifty for some time now. Buying at around 15600 and selling at around 15900 have proved to be profitable for traders. This range is likely to break on the upside when FII selling becomes weak and DII buying becomes strong, as is happening now. The very good Q1 results declared so far confirm the turnaround in corporate earnings. And this can embolden the bulls. If the Nifty breaks 15900 decisively & move forward, that rally is likely to be led by a new set of heavyweights. An important development in the banking space is the huge outperformance of ICICI Bank over HDFC Bank. This month, so far, HDFC Bank is down 3.7% while ICICI Bank is up by 7.3%. Globally, while the US & European markets are at record highs, Asia is under pressure due to rising Covid cases in Indonesia, Korea & Japan. This is unlikely to weigh on India since fresh cases are continuously on the decline in India except in certain pockets,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Domestic equity markets opened in the red on Monday morning amid mixed global cues. Broader markets followed, India VIX was up 4%. Bank Nifty was down 0.60%.

Nifty closed the pre-open session with marginal losses while Sensex was flat with a positive bias.

Nifty gave up the 15,900 mark on Monday morning while Sensex slipped just below 53,000 mark. 

Nifty breached 15,900 during the pre-open session on Monday mornings. Sensex was sitting above the 53,000 mark. 

Sensex and Nifty were trading with gains during the pre-open session on Monday morning despite a sharp fall in SGX Nifty. 

Big tech stocks such as Facebook, GoogleMicrosoft, and others have had a decent run so far in 2021 on Wall Street, but a few other technology shares have outperformed the frontline scrips significantly. Some technology shares have seen a sharp rise helped by strong fundamentals and an expected return to normalcy; while others have been helped by young Reddit traders. Earlier, last year, Facebook, Amazon, Apple, Netflix, Google, or as those are collectively known — FAANG stocks — surged higher in 2020 as investors moved out of smallcap companies and back to proven businesses amid rising inflation. On the domestic front, India’s Nifty IT index has gained 23% so far this year with Infosys surging as high as 26% — the most among large-cap IT stocks.

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The chart pattern suggests that if Nifty crosses and sustains above 15950 level it would witness buying which would lead the index towards 16100-16300 levels. However, if the index breaks below 15700 level it would witness selling which would take the index towards 15500-15400. Nifty is trading above 20 and 50 day SMAs which are important short term moving averages, indicating positive bias in the short term. 

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“On Friday Nifty made a Doji candle, a Doji candle indicates a possibility of a reversal in trend. Readers are suggested to book profits in longs and consider new longs only above 16000 levels. Nifty is expected to open at 15750 down by about 100 points.  Any break below 15700 can take Nifty to 15600 and 15500,” said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.

Going ahead, a decisive close above upper band of consolidation 15950 backed by firm global cues and multi sector participation would open the door for next leg of up move towards our revised target of 16300 in the coming month. Thus, dips from hereon should be capitalised on to accumulate quality stocks amid progression of Q1FY22 earning season.

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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel have been left unchanged at record highs for the ninth day straight on Monday amid the ongoing monsoon session of the parliament. Petrol in the national capital today costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4 and nine times this month already, sitting at all-time highs. The price of petrol in Delhi has increased by Rs 11.15, while diesel price has surged Rs 10.80 per litre since the rates started increasing more than 2 months back. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.

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SGX Nifty was down 110 points now as we near the opening bell on Monday morning. With Nifty Futures trading deep in red, Dalal Street could see a negative opening. 

‘From a correction to a new ATH closing, Dow Jones recovered in just 4 flat trading sessions. Bullish engulfing candles are seen in all three major indices in the US. Hang Seng has broken down this morning and its effect is seen in Asian markets. Expiry week likely to squeeze shorts if we sustain above 15,925 and 35,000. Supports at 15,800 and 15,770 for Nifty. Bank Nifty support at 34,900 and 34,650,’ said Rahul Sharma, Direct & Head – Research, JM Financial.

Frontline US technology stocks are helping investors pocket healthy gains, with shares of Facebook, Google, Amazon, and others outperforming many global markets so far this year. This is despite these stocks not mirroring last year’s stellar performance this time around. The biggest technology names Facebook, Amazon, Apple, Netflix, Google, and Microsoft, collectively called FAANGM stocks, have soared at least 14% each so far since January, as investors focused back on proven businesses amid rising inflation concerns. FAANGM stocks are the most dominant technology names listed on the tech-heavy NASDAQ index. Individually all FAANGM stocks, except Netflix, have outperformed KOSPI, KOSDAQ, Nikkei 225, Bovespa index, and even India’s NSE Nifty 50.

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Nifty futures were trading 99.50 points or 0.63 per cent lower at 15,753 on Singaporean Exchange, suggesting a gap-down opening for BSE Sensex and Nifty 50 on Monday. Analysts expect high volatility this week amid the scheduled derivatives expiry of July month contracts. In the previous week, the 30-share Sensex fell 164.26 points or 0.30 per cent. Markets will first react to the results of index heavyweights such as Reliance Industries Ltd (RIL), ICICI Bank and ITC in early trade on Monday.

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SGX Nifty was down 99 points on Monday morning amid mixed global cues. Among Asian markets, TOPIX, Nikkei 225, KOSPI, and KOSDAQ were up with gains while Hang Seng and Shanghai Composite were in red. 

Equity markets would be guided by the ongoing quarterly earnings season and global trends this week and may witness volatility amid the scheduled derivatives expiry, analysts said. Investors would also keenly track the US Fed interest rate decision, they added.

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