Share Market Highlights: Sensex ended at 59 pts higher at 58833, Nifty 50 ends at 17558; NTPC, Titan in gainers

Share Market Highlights: Sensex ended at 59 pts higher at 58833, Nifty 50 ends at 17558; NTPC, Titan in gainers

Sensex, Nifty, and Share Prices Today’s Share Market News Highlights: Most of the day saw domestic benchmark indices trading in the green, but they cut gains in the last moments to conclude flat with a bias towards the positive. To complete at 58,833, the S&P BSE Sensex rose 59.1 pointers or 0.10%. A little bit better was the NSE Nifty 50, which ended at 17,558 after climbing 36 pointers level or 0.21%.

While India VIX dropped 6.9% to complete at 18.22 levels, Bank Nifty is done with 0.09 percent higher at 38,987. Both the Sensex and the Nifty were down on a weekly basis. With a gain of 2.86%, NTPC led all Sensex gainers, again swept by Titan, Kotak Mahindra Bank, and Power Grid.

The Sensex’s worst-performing stock, Indusland Bank, saw a decline of 1.66%. The other slouches included Asian Paints, HDFC, and Bharti Airtel.

In the last minute of trading on Friday, Dalal Street reduced gains but still decided to complete in the green. To complete at 58,833, the S&P BSE Sensex rose 59.1 percent or 0.10%. A little bit better was the NSE Nifty 50, which ended at 17,558 after climbing 36 numbers or 0.21%. While India VIX dropped 6.9% to fix at 18.22 levels, Bank Nifty has come off with 0.09 percent higher at 38,987. Weekly, the Sensex and Nifty were down, breaking the winning trend. The biggest Sensex gainer was NTPC, which increased by 2.86%. Titan, Kotak Mahindra Bank, and Electric Grid were next.

The Sensex’s worst-performing stock, IndusInd Bank, saw a decline of 1.66%. The other slouches included Asian Paints, HDFC, and Bharti Airtel.

On August 2, Nifty closed higher, which is like deleting the day’s losses, in anticipation of the U.S. Fed Chair’s address in Jackson Hole. Following six sessions, the 10-year bond closing for India is expected to decrease due to JPMorgan interviewing investors about including India in its bond index. A five-week gaining streak was broken by Nifty, which completed the week 1.12% lower. The conclusion of the U.S. Fed Chair’s address at Jackson Hole on Friday is eagerly expected for hints on future attitudes.

The Nifty developed an unresolved Doji on daily charts following a brief decline. The path of the Nifty moving forward will be determined by a breakout above or below 17727-17487.

According to Rupak De, Senior Software Analyst at LKP Securities, the benchmark index has residual energy across the day. On the top end, it was unable to pass 17700. On the other hand, the drawbacks were only 17500. A small-bodied flame with shadow along either side has developed on the hourly charts, indicating uncertainty. The time the Nifty continues in the full variety, the trend will be sideways for the foreseeable future. At 17500/17400, support on the bottom end is discernible. At 17700, there is resistance on the higher end.

Vinod Nair, Director of Research at Geojit Financial Services: “Towards the end of the session, there was a major sell-off due to investors’ lack of confidence and prudence in the presence of the Fed chair’s feedback. Western economies are trading down because they are waiting for information on Fed policy moves to control the high pricing percentage. This should impact demand. Metals and PSBs led the sectoral gain, while I.T. went green following persistent selling pressure.

CEO of TIW Capital Group Mohit Ralhan: “Sensex has responded favourably to a flurry of amazing news on both the international and domestic fronts. Private CAPEX was predicted to rise in the second period of FY-23, and this trend is starting to materialize.

Private project implementation growth has surpassed 9%. In addition, the RBI has been proactive in managing inflation, and another deceleration is expected. On the international front, the threat of a disagreement between the United States of America and China has gone away, and both countries will show to be nearing agreement on the statement or agreement for Chinese businesses that are listed in the United States of America. Given the crucial Powell speech at Jackson Hole today, we are still on guard, and the markets will evaluate its influence before moving in a new direction.

The markets remained careful on Friday because they awaited Jerome Powell‘s keynote address in hopes of getting some of the activities of how far the Fed will slow the economy in order to contain inflation. After a strong start, trading on Asian markets concluded with Shanghai down but Hong Kong and Japan up.

The top Indian indices saw some more movement today, but they finished with proper gains. The Sensex increased by 500 pointers during intraday trading, but it was only able to gain 59 pointers overall to finish at 58,833. Nifty increased by 36 pointers to 17,559 at the day’s end.

Grasim, NTPC, Cochin Ports, and JSW Iron all saw increases of about 3%, in contrast to Eicher Motors, which decreased by more than 3%. The Central Bank of India’s stock price and India’s Central bank.

Metal and Consumer Durables indexes saw gains of over 1%. FMCG, Private banks, Media, and Real Estate all fell behind. At a significant 19% premium, Syrma SGS Technology was listed on the BSE and NSE today. The share price began trading on the BSE at 262 and increased further to reach its afternoon high of 295 per unit.

As cautious traders awaited the talk by Fed Reserve Chair Jerome Powell for new cues about the direction of U.S. fiscal policy tightening, Asian markets experienced a mixed day.

As COVID-19 breakouts and news and real estate issues kept the market mood poor, China’s stocks ended the day, with energy providers and technology companies leading the fall. The Shanghai Composite Index fell 0.3% at the close.

Hong Kong‘s stocks increased, with the Hang Seng Index rising by about 1%. On Friday, Japanese shares erased some other gains before completing it higher. The Nikkei stock average gained 0.57% in total, far less than its morning session high.

A tech-fueled Wall Street rise overnight has helped cushion the European peers, which contributed to a slight increase in European shares on Friday.

Edited by Prakriti Arora