Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark domestic indices ended Thursday’s trading session in positive territory. The NSE Nifty 50 gained 0.56% to settle at 19,545.75, while the BSE Sensex added as much as 405.53 points to 65,631.57. The border indices settled largely in green with gains led by Smallcap stocks, while Midcap stocks slipped marginally. The Bank Nifty index added as much as 249.30 points, or 0.57% to 44,213.35. Among the other sectoral indices, the gains were led by Media, Auto and IT stocks, while PSU Bank, Pharma, Metal and FMCG stocks tumbled.
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The NSE Nifty 50 gained 0.56% to settle at 19,545.75, while the BSE Sensex added as much as 405.53 points to 65,631.57.
HDFC Bank, Zomato, PNM, RIL and Suzlon were the most active stocks on the NSE during the intra-day trade on Thursday.
Tata Motors' subsidiary, Jaguar Land Rover (JLR), reported sales of 8,125 units, marking a significant month-on-month increase from 1,470 units and 6400 units year-on-year.
Power Grid Corporation, Coal India, NTPC, Divi's Labs and Sun Pharma were the top losers on the NSE Nifty 50, during the inra-day trade on Thursday.
Titan, Bajaj Finserv, Infosys, HDFC Bank and TCS were the top gainers on the NSE Nifty 50, during the inra-day trade on Thursday.
The Nifty IT index surged 1.48% during the intra-day trade on Thursday. TCS led the gains with 2%, while Infosys, Mphasis, L&T Technology Services, Coforge and Tech Mahindra added over 1% each.
RBI’s Monetary Policy Committee has kickstarted its 3-day meeting and is expected to keep key rates on hold when it announces its decision on Friday but the recent uptick in oil prices and sustained economic growth are likely to keep its focus on inflation.
The Nifty Media index surged 1.52% during the early trade on Thursday. The gains were led by Nazara Technologies and Dish TV India, with 6.15% and 2.25%, respectively.
“Bank Nifty breached below the 44,000 zone to weaken the trend and with bias maintained with a cautious approach has next important and crucial support of 43,400 zone. On the upside, as said earlier, a decisive breach above the 44,800 zone of the important 50EMA level is necessary to improve the bias and ease out the sentiment. Bank Nifty would have the daily range of 43,600-44,300 levels,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher.
The NSE Nifty 50 opened at 19,521.85, up 0.44%, while the BSE Sensex opened at 65,598.26, up 372.22 points.
“Markets may see a gap-up opening owing to gains in US and Asian indices after the recent sell-off. A halt in the selloff of US treasury instruments and crude prices falling to $85.5 per barrel bode well for the markets. However, upside is likely to be capped given the broader economic uncertainty, and the ongoing FII selling will keep investors on a cautious note. Traders will take selective bets ahead of tomorrow's credit policy announcement,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
“The USDINR 27 October futures contract traded in a tight range. As per the daily technical chart, we observed that the pair is trading above its moving average trend-line support level of 83.16 and RSI is fetching above 50 levels. Looking at the technical set-up, MACD is also moving towards positive crossover and the pair is sustaining above 83.22 levels. As per the daily technical chart the pair is having support at 83.22-83.05 while resistance is placed at 83.55-83.70. The pair is having crucial resistance at 83.45 and if it sustains above this level it could gain further strength in the upcoming sessions,” said Rahul Kalantri, VP Commodities, Mehta Equities.
“On the daily chart, the Nifty has formed a Dragonfly Doji candlestick formation, indicating a strong possibility of a relief rally from the current levels. Due to temporary oversold conditions, we may see a quick pullback rally from the current levels. Day traders should watch out for the key support level at 19,380. If the market manages to stay above this level, the pullback may continue up to 19,480-19,550 levels. Nevertheless, selling pressure is likely to increase below 19,380 and the index may slip to 19,330-19,300,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities.
Hero MotoCorp, PNB, Marico and JM Financial are among the top stocks to watch during Thursday's trading session.
The NSE has added Delta Corp, Manappuram Finance and Indiabulls Housing Finance to its F&O ban list for October 5, 2023.
Foreign institutional investors (FII) offloaded shares worth net Rs 4,424.02 crore, while domestic institutional investors (DII) added shares worth net Rs 1,769.49 crore on October 4, 2023, according to the provisional data available on the NSE.
Wall Street ended higher on Wednesday. The tech-heavy Nasdaq Composite surged 176.54 points, or 1.35%, at 13,236.01. The Dow Jones Industrial Average gained 127.17 points, or 0.39%, to 33,129.55, while the S&P 500 added 34.3 points, or 0.81%, at 4,263.75.