Stock Market Highlights Today: Nifty forms a bullish candle on daily chart. What does it signal for tomorrow’s trade? – The Economic Times
Buying in banks, financial and metal stocks lifted benchmark indices to record closing high on Tuesday. Strong global cues also helped in boosting sentiments on Dalal Street. Finally, buying returned in the mid and smallcap segments. Meanwhile, volatility indicators showed traders were comparatively less scared. However, IT stocks wiped off early gains and closed with some profit booking. The 30-share pack Sensex rose 403.19 points or 0.73 per cent to close at 55,958.98. The index traded in a range of about 500 points. Its broader peer NSE Nifty climbed 128.15 points or 0.78 per cent to 16,624.60.
!1 New UpdateClick here for latest updates
Rupee edges 3 paise higher to close at 74.19 against US dollar
At the interbank forex market, the local unit opened strong at 74.12 against the greenback and moved in a range of 74.11 to 74.20 in the day trade. It finally ended at 74.19 against the American currency, registering a rise of 3 paise over its previous close of 74.22.
On BSE, gainers outnumbered losers as buying returned to broader market
Search, Select & Invest in Top Stocks
This is how the 30-pack Sensex moved in today’s session. It touched a high of 56,023.22 and a low of 55,536.84 to finally settle at 55,958.98
CLOSING BELL: Sensex hits record closing high, gains 403 pts; Nifty above 16,600; Bajaj Finserv rallies 8%, Tata Steel 4%
- Financial stocks lead the market gains
- 19 of 30 Sensex stocks end the day in the green
- Index contributors: HDFC Bank, ICICI Bank, Bajaj Finserv, Bajaj Finance, RIL
- Top Index gainers: Bajaj Finserv (7.92%), Tata Steel (3.64%), Bajaj Finance (3.44%)
- Top Index losers: Nestle (1.34%), Infosys (0.98%), HDFC (0.97%)
- S&P BSE METAL biggest sectoral gainer, up 2.76%
- S&P BSE Information Technology biggest sectoral loser, down 0.37%
- Volume toppers: Bajaj Finance, Tata Steel, Bajaj Finserv, Kotak Bank, RIL
India considers allowing foreign direct investment in LIC
Discover & screen trade opportunities
Volatility gauge India Vix falls by 3.5%
Gold, silver spot prices
Financials, RIL help Sensex reclaim Mt 56K
Lupin launches branded generic alternative to Fostair in UK
Price as on 24 Aug, 2021 02:24 PM, Click on company names for their live prices.
MSCI CEO dismisses concern that Chinese stocks are ‘uninvestable’
MSCI’s optimism on China stands in contrast to some investors who have called the nation’s stock market “uninvestable.” Regulatory uncertainty wiped off about $1 trillion from the market value of local stocks listed globally last month, with sharp declines in sectors including online gaming, live streaming and liquor.
Weak demand expectations from China due to production cuts, a rise in Delta variant viruses, and worries that US Fed will start tapering later this year led to a fall in iron ore prices. The domestic steel demand is likely to be strong on account of the government’s thrust on infra spending. Companies are in a better position supported by a substantial improvement in margins and profitability over the last several quarters. A near-term consolidation is likely in the sector while the long-term outlook remains strong
– Vinod Nair, Head of Research at Geojit Financial Services
Tata Consumer Products launches Himalayan Water in UK market
Price as on 24 Aug, 2021 01:38 PM, Click on company names for their live prices.
Sebi empanels 16 entities to conduct forensic audit
Markets regulator Sebi has empanelled as many as 16 entities — including BDO India, Ernst & Young and Deloitte Touche Tohmatsu India — for conducting forensic audits of financial statements of listed companies as part of efforts to curb frauds.
We have seen input cost increase but output prices actually have remained very tepid. There is a big gap between the imported price pressures and what the domestic price pressure story is telling
– Rahul Bajoria, Chief India Economist at Barclays
After steep decline, these multibaggers aren’t in ‘August’ company
Top gainers and losers in IT pack
Price as on 24 Aug, 2021 12:23 PM, Click on company names for their live prices.
Japanese shares end higher as tech tracks Wall Street’s gain
Japanese shares closed higher on Tuesday, tracking overnight gains on Wall Street, as heavyweights SoftBank Group and other technology stocks jumped along with energy and transport sectors. The Nikkei share average ended up 0.87% at 27,732.10, while the broader Topix gained 1% to 1,934.20.
Bajaj Finserv gets SEBI nod to sponsor mutual fund; stocks hits 52-week high
Price as on 24 Aug, 2021 11:49 AM, Click on company names for their live prices.
India’s GDP likely to grow at 18.5% in April-June quarter this fiscal: SBI report
This estimate is lower than the Reserve Bank of India’s GDP growth projection of 21.4 per cent for the April-June quarter.
Zomato declines 15% in just two days
Centre mulls ways to let Vodafone Idea, Airtel pay AGR dues over 20 years
Price as on 24 Aug, 2021 11:24 AM, Click on company names for their live prices.
China shares rise as new energy, liquor sectors gain
The CSI300 index rose 1.1% to 4,887.44 points at the end of the morning session, while the Shanghai Composite Index gained 1.0% to 3,511.97 points.
Top 10 stocks have outperformed rest of Nifty 200 by 7 percentage points
Rupee rises 9 paise against US dollar in early trade
Infosys hits fresh record high
The stock crosses $100 billion in market capitalisation and becomes the fourth Indian company to enter the $100 billion club
Chemplast Sanmar makes dull D-Street debut, lists at 3% discount to issue price
Aptus Value Housing Finance lists at 7% discount to issue price
Intraday Picks from Reliance Securities:
1) Buy Cipla: For today’s trade, long position can be initiated in the range of Rs 885- 893 for a target of Rs 914 with a strict stop loss of Rs 877.2) Buy GAIL: For today’s trade, long position can be initiated in the range of Rs 138- 140 for a target of Rs. 145 with a strict stop loss of Rs 136.3) Buy SBI: For today’s trade, long position can be initiated in the range of Rs 394- 397 for a target of Rs 410 with a strict stop loss of Rs 390.
Aptus Value, Chemplast Sanmar to list on stock exchanges today
Top gainers in banking pack
Price as on 24 Aug, 2021 09:27 AM, Click on company names for their live prices.
Top gainers and losers in Sensex pack
Opening Bell: Sensex gains 170 points, Nifty nears 16,550; Nalco jumps 5%, Ujjivan SFB 4%
Pre-open session: Sensex gains 40 points, Nifty tops 16,500
SGX Nifty signals a positive start
Nifty futures on Singapore Exchange traded 80.5 points, or 0.49 per cent, higher at 16,575.50, signaling that Dalal Street was headed for a positive start on Tuesday.
Tech View: Nifty in consolidation mode
Nifty50 on Monday formed a bearish candle on the daily chart with a long wick, suggesting the emergence of buying at lows. Analysts said the index is consolidating and believe a breakout of the 16,580-600 resistance range is a must for it to show strength. Till then, Nifty50 is likely to keep moving in the 16,350-600 range, they said.
Hong Kong stocks build on gains at open
Hong Kong stocks climbed more than one percent soon after opening on Tuesday, extending the previous day’s gains and tracking another strong lead from Wall Street. The Hang Seng Index rose 1.27 percent, or 319.09 points, to 25,428.68. The Shanghai Composite added 0.15 percent, or 5.13 points, to 3,482.27, while the Shenzhen Composite Index on China’s second exchange edged up 0.12 percent, or 2.87 points, to 2,447.91.
Tokyo stocks open higher extending US rallies
Tokyo stocks opened higher on Tuesday as investors took heart from rallies on Wall Street partly fuelled by vaccine hopes. The benchmark Nikkei 225 index was up 0.70 percent or 191.98 points at 27,686.22 in early trade, while the broader Topix index edged up 0.75 percent or 14.28 points to 1,929.42.
US stocks closed higher as Covid sentiment shifts
Wall Street finished strong on Monday as some positive news seemed to dispel fears the spreading Covid-19 Delta variant would derail the recovery. Stronger-than-expected home sales data and full regulatory approval of Pfizer’s Covid-19 vaccine boosted the sentiment. Dow Jones climbed 0.6 percent to end at 35,335.71, while the broad-based S&P 500 rose 0.8 percent to 4,479.53. The tech-rich Nasdaq Composite Index scored a new record, jumping 1.6 percent to finish at 14,942.65.
Rupee rises 17 paise to nearly 2-month high on weaker dollar
The rupee rose by 17 paise to close at a nearly two-month high of 74.22 against the US dollar on Monday, supported by a firm trend in domestic equities and weak dollar overseas. However, surging crude prices in the international market restricted the rupee’s gain. At the interbank forex market, the local unit opened strong at 74.27 against the greenback and moved in a range of 74.22 to 74.30 in the day trade. On Friday, the rupee had settled at 74.39 against the dollar.
Sensex, Nifty on Monday
The Sensex and Nifty made a positive start to the week on Monday as IT, banking and finance counters saw robust buying amid a supportive trend in global equities. A strengthening rupee, which climbed 17 paise against the US dollar, added to the momentum. Recovering from a two-session slide, the 30-share BSE Sensex darted up 226.47 points or 0.41 per cent to close at 55,555.79. Similarly, the broader NSE Nifty advanced 45.95 points or 0.28 per cent to 16,496.45.