Closing Bell: Nifty ends around 17,800, Sensex surges 650 pts led by financials, IT stocks

2022-09-10 01:52:30 By : Mr. Jack Jiang

Learn, discover & invest in smallcases across different types to build your long term portfolio.

Explore from India`s leading investment managers and advisors curating their strategies as smallcases.

Diversify your portfolio by investing in Global brands.

Pre-configured baskets of stocks & ETFs that you can invest in with a single click. Developed by hedge funds, global asset management companies, experienced wealth management firms and portfolio managers.

Fundamental, Stock Ideas, Multibaggers & Insights

Stock & Index F&O Trading Calls & Market Analysis

Technical Call, Trading Calls & Insights

Commodity Trading Calls & Market Analysis

Currency Derivatives Trading Calls & Insights

Options Trading Advice and Market Analysis

Model portfolios, Investment Ideas, Guru Screens and Much More

Proprietary system driven Rule Based Trading calls

Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas

Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas

STOCK REPORTS BY THOMSON REUTERS

Details stock report and investment recommendation

Set price, volume and news alerts

Benchmark indices ended the session in green with Sensex jumping over 650 points or 1.12 percent at 59,688.22

Rupee ends at 79.71/$ versus Wednesday’s close of 79.90/$

Tanla Platforms Board approves Rs 170 cr share buyback at Rs 1200 per share via tender offer

MCX Crude oil September contract has important support at Rs 6450, resistance at Rs 6650 per barrel: Expert

Sensex, Nifty extend gains led by financials, IT stocks

Panacea Biotec Pharma receives ‘Official Action Indicated’ classification on Baddi unit after USFDA inspection

China Data Watch | August retail passeneger vehicle sales up 28.4 percent YoY

Lemon Tree Hotels signs licence pact for 64-room hotel in Tamil Nadu

European markets open higher on Thursday

Nifty Pharma slips into red

TVS Motor launches 2022 TVS Apache RTR 160 at an ex-showroom price of Rs 1.17 lakh

Schneider Electric hits 52-week high

Selling seen in metal stocks; Nifty Metal worst sectoral performer

Tata Steel Large Trade | 22.9 lk shares worth Rs 24.5 cr change hands

Shares of Sonata Software surge ahead of the record date for bonus issue

Hindustance Zinc forms fertiliser subsidiary in the name of Hindustan Zinc Fertilisers

Nifty Auto advances close to a percent. M&M hits 52-week high

BSE Midcap and Smallcap gain over half a percent

Banks lead the rally; Nifty Bank advances over 1%

All sectoral indices trading in the green

IndiGo Large Trade  | 1.4 cr shares worth Rs 2,704.5 cr change hands at an avg of Rs 1,900 per share

Sensex jumps 450 pts at open; Nifty above 17,700

Auto stocks in focus | Total vehicle retail for the month of August 2022 saw a growth of 8 percent YoY: FADA

CreditSights finds calculation errors in making debt report for two Adani firms

Rupee opens at 79.68/$ versus Wednesday’s close of 79.90/$

Dr. Reddy's launches Lenalidomide capsules in the US

Adani Group's open offer for NDTV to start on Oct 17, end on Nov 1

Oil settles below $90 as recession fears mount

US Markets end higher, Dow jumps over 400 points

Trends in the SGX Nifty indicate a gap-up opening for the broader index in India

Benchmark indices ended the session on September 7 in the red after having recovered some loses in the afternoon session

Ajit Mishra, VP - Research, Religare Broking

Markets were upbeat on the weekly derivatives expiry day and gained nearly a percent, tracking firm global cues. Nifty has again reached the upper band of the prevailing consolidation range (17,300-17,800) and a decisive breakout would fuel the next leg of the up move towards the 18,100+ zone. Importantly, rotational buying across sectors combined with steady foreign flows has strengthened the possibility of a breakout. Participants should align their positions accordingly and avoid contrarian trades.

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty rose on September 08 after a two day fall. It opened gap up and then remained in a 102 point range through the day. At close, Nifty was up 0.99 percent or 174.35 points at 17,798.75. Among sectors, banks and IT gained the most, while metals and realty fell the most. Advance decline ratio was positive at 1.56:1.

Nifty broke above the recent high of 17,777 easily. Now the next tough resistance is 17,992. On falls, 17,651 could be the support.

Vinod Nair, Head of Research, Geojit Financial Services

The domestic financial market experienced a wave of optimism tracking strength across global markets as oil prices eased. Despite premium valuations, consistent FII inflows are aiding Indian bourses to stay resilient. On the sectoral front, auto stocks were in focus as retail sales of automobiles grew 8.31 percent YoY in August while banking stocks moved in sync.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

Nifty had taken support near the psychological mark of 17,500 on September 7 and had started moving higher. The up move extended on September 8 as well. Consequently, the index is approaching upper end of the consolidation range. 18,000-17,200 has been the short term consolidation range. Thus, the index is likely to stumble as it approaches the 18,000 mark. The overall structure suggests that we are likely to see further consolidation before the index resumes the larger uptrend.

It was a good day for markets as benchmark indices ended the session in green with Sensex jumping over 650 points or 1.12 percent at 59,688.22. Nifty added 174 points or 0.199 percent and ended the day at 17,798.40. About 2073 shares have advanced, 1289 shares declined, and 121 shares are unchanged.

Among the sectors, financials led the rally with Nifty Bank ending above 40,200. While Nifty Metal shed about a percent, Nifty Pharma too ended the day in red. Buying was also seen in IT, autos and infrastructure stocks.

Rupee At Close | Rupee ends at 79.71/$ versus Wednesday’s close of 79.90/$

Tata Power to set up 100 MW captive Solar Power Plant for Viraj Profile in Nashik. Plant will provide power to Viraj Profile’s stainless steel manufacturing plant at Tarapur

Board approves Rs 170 cr share buyback at Rs 1200 per share via tender offer  

Tapan Patel, Senior Analyst (Commodities), HDFC Securities:

Crude oil prices traded steady with benchmark NYMEX WTI crude oil prices were trading near $81.94 per barrel on Thursday. Crude oil prices pared early gains resumed downtrend on weaker demand. Prices slumped to their lowest levels since January on Wednesday, after weak economic prints from China, interest rate hikes and a surprise rise in US inventories brewed concerns over slowing demand. The US energy watchdog forecast slightly higher demand and tighter supply going into 2023. 

We expect crude oil prices to trade sideways to down with resistance at $84 per barrel with support at $80 per barrel. MCX Crude oil September contract has important support at Rs 6450 and resistance at Rs 6650 per barrel.

All existing terminals, including #CONCOR & other #PSUs have 30-yr lease policy. It’s a general policy for every participant, not specifically brought in for CONCOR, adds Railway Minister @AshwiniVaishnaw @RailMinIndia pic.twitter.com/0wtgterLAM

Bank Nifty added 2 percent led by Bank of Baroda, Bandhan Bank, Axis Bank, ICICI Bank and SBI

Managing Money | Rules of investing in various asset classes

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.

Copyright © e-Eighteen.com Ltd All rights resderved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited.