Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity indices NSE Nifty 50 and BSE Sensex closed in the green on Tuesday, extending the two-day gaining streak. Nifty 50 ended at 19,574.90, adding 0.24% while Sensex rose 150 points to close at 65,780.26. The broader markets closed largely in the green, with Nifty Midcap adding over 1%, while Nifty Smallcap jumped 0.84%. Sectorally, Bank Nifty and Nifty Auto ended flat, marginally in the red. Nifty Media was the outperformer in the pack, jumping over 3% intraday. Nifty Pharma, Nifty FMCG and Nifty IT all added gains as well.
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15:47 (IST) 5 Sep 2023 Currency outlook
USDINR CMP- 83 (spot) Indian Rupee depreciated on Tuesday on strong Dollar and weak Asian currencies. Weak global markets and disappointing macroeconomic data from India also weighed on Rupee. India’s services PMI declined to 60.1 in August from 62.3 in July and forecast of 61. FIIs continued to sell in the domestic markets. However, softness in crude oil prices cushioned the downside. US Dollar gained on safe haven demand amid risk aversion in global markets.
– Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas
15:43 (IST) 5 Sep 2023 Nifty Midcap index crosses 40,000
“The Nifty Midcap index crosses the psychological 40,000 mark, gaining nearly 35% in the last six months, while the smallcap index soars above the 12,000 mark to capture around 40% gain since March 2023. Despite this humongous gain in prices in such a short span of time, we are still more optimistic about both indexes as growing risk appetency will continue to buoy both segments.”
– Arvinder Singh Nanda, Senior Vice President, Master Capital Services
15:36 (IST) 5 Sep 2023 Markets at close
Nifty 50 ended at 19,574.90, adding 0.24% while Sensex rose 150 points to close at 65,780.26.
14:54 (IST) 5 Sep 2023 Risk in broader markets
“The midcap segment is experiencing a significant upswing due to several key factors. The broader market currently exhibits signs of being overheated, with a limited margin of safety in the short term. This heightened risk is underscored by the fact that any negative catalyst could potentially trigger significant profit-taking. It’s noteworthy that the market appears to be disregarding the adverse impact of a weak monsoon at the moment.”
– Parth Nyati, Founder at Tradingo.
14:20 (IST) 5 Sep 2023 Markets regain
Nifty, Sensex wiped out morning gains, descending into the negative territory before paring losses to trade flat. Banking sector losses overshadowed advances in IT and FMCG shares, pushing Sensex into a decline.
13:05 (IST) 5 Sep 2023 Midday market check
Sensex traded flat at 65,687.14, up by 59.00 points or 0.09%. Nifty 50 held firm above 19,500 at 19,546.80, up by 0.08%.
12:09 (IST) 5 Sep 2023 Gold price outlook
“We believe gold prices are likely to trade within a range of $1933 to $1955 with a negative bias. A fall below the $1933 level will drag prices to the $1924–$1917 levels. The MCX Gold October future is expected to trade in a range of Rs. 59025 to Rs. 59580.”
– Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities
11:39 (IST) 5 Sep 2023 Nifty Midcap 100 hits fresh high
The Nifty Midcap 100 index tops the 40,000 level for the first time ever. Constituents IRFC and Devyani International lead the gains.
10:03 (IST) 5 Sep 2023 Vishnu Prakash Punglia IPO
Vishnu Prakash Punglia shares listed at 65% premium over IPO price on NSE and BSE amid flat domestic market. The share debuted at Rs 163.3 on the BSE, as compared to the issue price of Rs 99.
09:27 (IST) 5 Sep 2023 IT scrips shining
“A significant trend in the market is the strength in IT index which is up 4.2% in a week. Mid-cap IT has been doing well and now large-caps like HCL Tech, Infosys and Wipro have joined the rally. The order pipeline of IT companies is expected to improve on the back of the expected soft landing of the US economy.”
– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
09:25 (IST) 5 Sep 2023 Raymond up 8%
Jefferies began its coverage of Raymond with a buy recommendation and a target price set at Rs 2600. In response, the share price of Raymond jumped over 8% in trade on Tuesday.
09:22 (IST) 5 Sep 2023 Markets at open
Nifty 50 held above the key 19,500, opening at 19,564.65 while Sensex commenced the session at 65,671.60.
09:08 (IST) 5 Sep 2023 Gold outlook
“Both the precious metal marked a dull performance as the U.S markets were closed on Monday on account of Labor Day. However, the uncertainty about the Federal Reserve’s next move and a lack of confidence in China’s efforts to defend the world’s second-largest economy seems to weigh on gold of late.”
– Rahul Kalantri, VP Commodities, Mehta Equities
08:35 (IST) 5 Sep 2023 Monsoons cause for concern
“A cause of concern in the near to medium term will be the erratic monsoon spell, and if the rains play truant inflation factor will once again come into play, which could hurt market sentiment going ahead.”
– Prashanth Tapse, Senior VP (Research), Mehta Equities
08:31 (IST) 5 Sep 2023 FII, DII data
FIIs sold shares worth net Rs 3,367.67 crore, while DIIs bought shares worth net Rs 2,563.48 crore on 4 September.
08:26 (IST) 5 Sep 2023 F&O ban
The National Stock Exchange has Balrampur Chini Mills, Indiabulls Housing Finance, BHEL, India Cements and Hindustan Copper securities on its F&O ban list for 5 September.
08:20 (IST) 5 Sep 2023 Technical Outlook
“Nifty is currently in an attempt of showing an upside breakout of the down sloping trend line around 19500 levels. A decisive move above 19600 levels is expected to pull Nifty towards the next upside of around 19800-19900 levels in the near term. Immediate support is at 19430 levels” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
07:59 (IST) 5 Sep 2023 Asian markets
Asian-Pacific markets traded in the red on Monday. Chinese indices Shanghai Composite and Shenzhen Component decreased by 0.6% and 0.53% respectively. Japan’s Nikkei-225 fell by 0.31%, while Hong Kong’s Hang Seng index dropped by 1.28%. South Korea’s KOSPI was lower by 0.32%.
07:57 (IST) 5 Sep 2023 Crude outlook
Oil prices were mixed on Tuesday as support from China’s measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and Russia.
07:53 (IST) 5 Sep 2023 Wall Street on Monday
The US stock markets were closed on Monday, September 4 in observance of Labor Day. Trading will resume on Tuesday.