Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity indices NSE Nifty 50 and BSE Sensex closed in the green on Friday. The NSE Nifty 50 closed at 19,435.30, while the Sensex closed the trading session at 65,387.16. The broader markets settled largely in the green, with Nifty Smallcap 50 and Nifty Smallcap 100 adding 1.61% and 1.17% respectively. Bank Nifty surged 1.02% to settle at 44436.10. Nifty Metal, Banks, Auto and IT were the leading gainers among the other sectoral indices.
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15:36 (IST) 1 Sep 2023 Markets at Close
The NSE Nifty 50 closed at 19,435.30, while the Sensex closed the trading session at 65,387.16.
14:34 (IST) 1 Sep 2023 Metal stocks gain
Nifty Metal index gained as much as 185.15 points or 2.78%. NMDC led the gains with a 5.32% increase, followed by Steel Authority of India (SAIL) at 4.74% and Hindustan Copper at 4.10%.
14:23 (IST) 1 Sep 2023 Nifty IT soars
The Nifty IT index gained over 1% in trade on Friday, as Persistent Systems, Tech Mahindra, and LTIMindtree led the gains.
13:45 (IST) 1 Sep 2023 Nifty PSU Bank zooms
The PSU Bank index gained 1.70% in trade on Friday, as Punjab National Bank, Bank of India and Canara Bank led the gains.
12:38 (IST) 1 Sep 2023 Gold outlook
“Gold prices retreated on Friday, with spot gold at Comex trading down by 0.05% at $1938 per ounce in the morning session. Gold prices reversed from a multiweek high in the previous session on the back of mixed US economic data and an uptick in the dollar index. The dollar index showed more than 0.40% of daily gains in the previous session, putting pressure on precious metals.”
– Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities.
12:05 (IST) 1 Sep 2023 Nifty Auto zooms
The Nifty Auto index gains over one percent in trade on Friday, as Tata Motors, Maruti Suzuki and Bajaj Auto lead the gains.
11:01 (IST) 1 Sep 2023 India VIX outlook
India VIX increased by 14.75% from 10.51 to 12.06 levels in the August series. Volatility moved higher to 12.75 and remained on the higher band and created swings in the market and providing discomfort to the bulls.
10:25 (IST) 1 Sep 2023 Metal stocks gain
Metal stocks experienced significant gains today. Tata Steel led with a 4.31% increase, followed by Steel Authority of India (SAIL) at 3.64%. Jindal Saw, Jindal Steel & Power, and Welspun Corp rose by around 3%.
09:35 (IST) 1 Sep 2023 Headwinds affecting markets
“Headwinds stronger than tailwinds have pushed the Nifty down by 406 points in August. Some headwinds like weakening monsoon and sluggish global growth are likely to weigh on markets. And now there is another headwind coming from the Brent crude rising to $87. FPI flows in the cash market turned negative in August after strong positive flows in the previous three months. These headwinds will constrain a sustained recovery in markets.”
– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
09:25 (IST) 1 Sep 2023 Currency outlook
“Recovery attempts continue, but limited to 82.8 as expected. Upsides momentum appears to be increasing, prompting us to expect a spurt to 83.09, if 82.8 gives away. The prospects of downside break would be renewed only on push below 82.5.”
– Anand James, Chief Market Strategist at Geojit Financial Services
09:19 (IST) 1 Sep 2023 Markets at open
Local stock indices BSE Sensex and NSE Nifty 50 began trading on a steady note on Friday. Nifty opened above the 19,250 level at 19,258.15, and Sensex rose by approximately 20 points from its previous close, starting at 64,855.51, maintaining its existing sideways trend.
09:06 (IST) 1 Sep 2023 Bank Nifty support, resistance
Bank Nifty has a strong support at 43,600, and below that it would gradually fall to 43,300-43,350 levels. The resistance exists at 44,000 levels. The Nifty IT index is exhibiting a mixed activity, which would keep the sentiment volatile.
– Shrikant Chouhan, Head of Research (Retail), Kotak Securities
08:40 (IST) 1 Sep 2023 Support, resistance levels
“Nifty closed in the lower half of the day’s range on the highest volume recorded for the quarter and marked the seventh distribution day in the rally. The drawdown was arrested near the support zone of 19,250-19,235 and it will be crucial that the zone remains intact on a closing basis to attract bullish strength.”
Support: 19,235 -19,190 -19,075
Resistance: 19,340-19,390-19,420
– Riches Vanara, Technical and Derivatives Analyst, Stoxbox.
08:21 (IST) 1 Sep 2023 Derivative outlook
On the Options front in the September monthly expiry, the 19,000 Strike put option has highest open interest with 64,26,550 contracts followed by the 19,500 Strike put option with 26,56,950 contracts. While on the call side, the 20,000 call has highest open interest with 25,04,150 contracts followed by the 19,500 Call strike with 21,27,950 contracts.
08:20 (IST) 1 Sep 2023 F&O ban list
The National Stock Exchange has Indiabulls Housing Finance and BHEL securities on its F&O ban list for 1 September.
08:13 (IST) 1 Sep 2023 Currency outlook
“USDINR spot closed 5 paise higher at 82.78, due to demand for dollars from corporates and oil marketing companies. Traders will keep a close watch on the US jobs data tomorrow. A strong data can push USDINR towards 83.00 by next week. We expect a range of 82.40 and 83.10 on spot.”
– Anindya Banerjee, VP – Currency Derivatives & Interest Rate Derivatives at Kotak Securities
07:49 (IST) 1 Sep 2023 Asian shares
Asian-Pacific markets traded in the green on Friday. Chinese indices Shanghai Composite and Shenzhen Component increased by 0.47% and 0.53% respectively. Japan’s Nikkei-225 rose by 0.62%, while Hong Kong’s Hang Seng index remained unchanged. South Korea’s KOSPI added a slight 0.02%.
07:46 (IST) 1 Sep 2023 Crude oil
Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to tightening supplies and expectations of the OPEC+ group of oil producers extending output cuts to the end of the year.
07:46 (IST) 1 Sep 2023 Wall Street overnight
The S&P 500 ended lower and the Nasdaq higher on Thursday after U.S. inflation data matched estimates, underscoring expectations the Federal Reserve could pause its monetary tightening, according to Reuters. On Thursday, the Dow Jones Industrial Average fell by 0.48%, the S&P 500 slipped 0.16%, and the Nasdaq Composite increased by 0.11%.