Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian equity benchmarks NSE Nifty 50 and BSE Sensex closed in the green on Monday. After snapping a five-week losing streak on Friday, Nifty 50 extended its gains to reclaim the 19,500 level, ending at 19,528.80 while Sensex gained 0.37% to close at 65,628.14. The broader market closed entirely in the green while fear gauge India VIX settled at 10.96, down by 3.54%. The midcap and smallcap indices demonstrated exuberance, closing higher by 0.98% and 1.33% respectively. Sectorally, Nifty IT, Nifty Private Bank and Nifty PSU Bank outperformed, gaining over 2% while the media and realty shares also closed higher.
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15:48 (IST) 4 Sep 2023 Markets buoyed by domestic macroeconomic data
“Recent releases of domestic macroeconomic data have portrayed a positive picture for the domestic markets, allowing them to maintain their momentum. Despite profit booking in Nifty Auto after reaching an all-time high, the market regained its footing with robust buying in IT stocks. The increase in the US unemployment rate has solidified expectations of a pause in rate hikes, and positive global cues have further boosted market sentiment.”
– Vinod Nair, Head of Research at Geojit Financial Services.
15:43 (IST) 4 Sep 2023 Crude oil outlook
We remain bullish on crude oil as Chinese stimulus measures to support the economic revival in coming months along with depleting U.S. crude oil stocks, which may shrink further this year and the OPEC+ decision to keep the voluntary cuts till October will keep oil market tight. WTI crude support remain around $82/$80 and we expect it to test the resistance of $88 this week.
– Mohammed Imran, Research Analyst at Sharekhan by BNP Paribas
15:36 (IST) 4 Sep 2023 Closing bell
Indian stock indices NSE Nifty 50 and BSE Sensex ended in the green on Monday. Nifty 50 continued its upward movement to surpass the 19,500 mark, settling at 19,528.80. Meanwhile, Sensex rose by 0.37%, finishing at 65,628.14.
15:01 (IST) 4 Sep 2023 Currency outlook
USDINR CMP- 82.6925 (spot) Indian Rupee posted minor gains on Monday on positive domestic equities and FII inflows. However, strong US Dollar and surge in crude oil prices capped sharp gains. US gained on Friday on upbeat ISM manufacturing PMI data and non-farm payrolls topping forecast. However, softening wage growth and rising unemployment rate capped the upside.
– Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas
13:33 (IST) 4 Sep 2023 JSF jumps 9%
Shares of the recently-listed Jio Financial Services surged by as much as 9% today, surpassing its debut day price of Rs 265 on BSE and Rs 262 on NSE.
12:53 (IST) 4 Sep 2023 Derivative look
Nifty weekly contract has highest open interest at 19600 for Calls and 19300 for Puts while monthly contracts have highest open interest at 20000 for Calls and 19000 for Puts. Highest new OI addition was seen at 19600 for Calls and 19300 for Puts in weekly and at 20000 for Calls and 19500 for Puts in monthly contracts.
11:54 (IST) 4 Sep 2023 Ratnaveer Precision Engineering IPO fully subscribed
The initial public offering (IPO) of Ratnaveer Precision Engineering was fully subscribed within the opening hour on Monday, witnessing robust interest from both retail and high-net-worth investors.
11:18 (IST) 4 Sep 2023 Nazara Tech up 10%
The board of Nazara Technologies has approved preferential allotment of 1.4mn shares at an issue price of Rs 714 to M/S Kamath Associates (owned by Nikhil Kamath and Nithin Kamat) and NK Squared (partnership firm owned by Nikhil Kamath and Nitin Kamath). The share price of the company jumped over 10% in trade.
10:03 (IST) 4 Sep 2023 Nifty Auto hits record high
As August sales numbers beat expectations, Nifty Auto hit a fresh record high on Monday. Constituents Eicher Motors and Bharat Forge led the gains.
09:29 (IST) 4 Sep 2023 Opening bell
Nifty jumped to open above the 19,500 mark at 19,525.05 while Sensex gained over 100 points to start the day’s trading session at 65,525.91.
09:13 (IST) 4 Sep 2023 Markets at pre-open
Nifty 50 jumped 90 points to end the pre-open session above 19,500 at 19,525.05. Sensex gained over 100 points to settle at 65,525.91.
09:02 (IST) 4 Sep 2023 JFS exits T2T segment
Starting Monday, Jio Financials (JIOFIN) old 5% price band is revised to 20%, exiting the T2T segment. Nifty Indices have a rule – for a spun off entity to be excluded from Indices, it must have two consecutive days without any circuit limits (price band), upper or lower. With that sturdy 20% filter, chances of Jio hitting upper/lower circuits diminish.
08:47 (IST) 4 Sep 2023 Nifty’s major resistance seen at 19,500
Until the market closes above 19,500, the market will remain under pressure. Nifty major support is seen at the 19,250 level, while major resistance is at the 19,500 level.
08:36 (IST) 4 Sep 2023 FII, DII data
Foreign institutional investors (FII) purchased shares worth net Rs 487.94 crore, while domestic institutional investors (DII) bought shares worth net Rs 2,294.93 crore on 1 September.
08:36 (IST) 4 Sep 2023 Asian markets
Asian-Pacific markets traded in the green on Monday. Chinese indices Shanghai Composite and Shenzhen Component increased by 1.23% and 1.22% respectively. Japan’s Nikkei-225 rose by 0.58%, while Hong Kong’s Hang Seng index remained unchanged. South Korea’s KOSPI also remained unchanged.
08:27 (IST) 4 Sep 2023 Technical views
“The short term trend of Nifty has turned up and one may expect further upside in the short term. The next overhead hurdles to be watched around 19600 and 19800 levels in the next couple of weeks. Immediate support is placed at 19350 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
08:08 (IST) 4 Sep 2023 Crude outlook
Oil prices ticked up in Asian morning trade on Monday, as market sentiment was buoyed by positive China and U.S. economic data, as well as expectations of ongoing crude supply cuts from major producers.
08:08 (IST) 4 Sep 2023 Wall Street on Friday
The S&P 500 ended higher on Friday after a jump in unemployment cemented expectations of a pause in interest rate hikes this month, while shares of streaming firms tumbled due to a rate dispute between Disney and Charter Communications.
The Dow Jones Industrial Average rose 0.33%, the S&P 500 increased by 0.18%, and the Nasdaq Composite fell 0.02% on Friday.