Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmarks NSE Nifty 50 and BSE Sensex broke their two-day slide on Monday. Sensex rose by 0.41% to 65,216.09, and Nifty 50 increased by 83 points, settling nearly at 19,400 at 19,393.6. In the broader markets, Nifty Next 50 jumped 0.8% while the smallcap and midcap benchmarks gained as well. Bank Nifty reclaimed the 44,000 level while Nifty IT and Nifty Metal outperformed, closing over 1% higher respectively. Nifty PSU Bank was the top loser, ending over 0.6% lower.
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15:59 (IST) 21 Aug 2023 Nifty trades range-bound
“The Nifty witnessed yet another range-bound day of trade. It snapped the two-day losing streak and closed in the positive up ~83 points. On the daily charts, we can observe that the Nifty has been hovering around the 40-day moving average (19360) for the past five trading sessions. Considering that the Nifty has been falling for the last four weeks a pullback is likely.”
– Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas
15:36 (IST) 21 Aug 2023 Markets at close
Domestic indices NSE Nifty 50 and BSE Sensex snap two-day losing streak on Monday. Sensex gained 0.41% to 65,216.09 while Nifty 50 added 83 points to close just shy of 19,400 at 19,393.6.
14:15 (IST) 21 Aug 2023 Nifty IT jumps
Nifty IT jumps over 1% in trade on Monday as constituents Persistent and Mphasis lead the gains, rising up to 3.5%.
12:01 (IST) 21 Aug 2023 Gold outlook
“Gold gained ground today, driven by a retreat in US treasury yields and renewed safe-haven demand stemming from concerns about the Chinese economy. However, these gains have been relatively modest. The participation in gold continues to decline and remains at a very low level, amid declining prices of gold. We believe this decline has paved the way for a favourable investment opportunity.”
– Abans
11:02 (IST) 21 Aug 2023 Euphoric JFS valuations here to stay
“At Jio Financial Services’ discovered price, excluding the current value of investments (~6.1% stake in RIL) worth Rs 1 trillion, the core business valued at ~6x trailing BV. We expect such euphoric valuations to hold for a while amid expectation of robust organic growth as well as probable opportunities of inorganic growth available in the financial domain.”
– InCred Equities
10:06 (IST) 21 Aug 2023 Jio Financial Services lists
Mukesh Ambani’s Jio Financial Services lists flat on bourses at Rs 265, however shares jump 6.2% in trade following listing. However, the shares give up their gains to trade 4.5% lower at Rs 248.90.
09:59 (IST) 21 Aug 2023 Market outlook
“The rally in global markets, driven by the US economy’s soft landing narrative, appears to be losing steam. The major headwinds for the markets now come from the rising dollar and bond yields. The US 10-year bond yield at 4.25 percent is a major headwind for equity markets since this risk-free return is hugely attractive particularly when CPI inflation in the US is down to 3%. The FPI selling in the cash market in August so far is likely to continue, going forward.”
– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
09:25 (IST) 21 Aug 2023 Markets at open
Nifty 50 opened higher at 19,320.65, while Sensex topped the 65,000 level after opening at 64,852.70.
08:32 (IST) 21 Aug 2023 Technical Outlook
“The short term trend of Nifty continues to be weak with range bound action. There is a possibility of downside breakout of the immediate support of 19,250 levels and the Nifty could slide down to another base area of 19,100-19,000 levels in the near term. Any upside bounce could find resistance around 19,400 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
08:25 (IST) 21 Aug 2023 FIIs offloading Indian equities
“A factor hurting the sentiment has been the offloading of domestic shares by foreign investors this month, and if this trend continues downward spiral may extend. In the month of August, FIIs have sold shares worth Rs 10,926 crores.”
– Prashanth Tapse, Senior VP (Research), Mehta Equities
08:18 (IST) 21 Aug 2023 FII, DII data
Foreign institutional investors (FII) sold shares worth net Rs 266.98 crore, while domestic institutional investors (DII) bought shares worth net Rs 339.18 crore on 18 August.
08:00 (IST) 21 Aug 2023 F&O ban list
PNB, India Cements, Hindustan Copper, GNFC, SAIL, Chambal Fertilisers, Delta Corp, Granules India, ZEEL, and Indiabulls Housing Finance securities on the NSE F&O ban list for 21 August.
07:42 (IST) 21 Aug 2023 Jio Financial Services lists today
Jio Financial Services is set to be listed on the bourses on 21 August, in the trade-for-trade segment for ten trading sessions. This will ensure that JFSL stocks will remain in the FTSE indices and will enter the MSCI Global Standard Index as well. A special pre-open session was held following the demerger to determine the market value of JFSL shares, which ended with Jio Financial Services at Rs 261.85 apiece.
07:42 (IST) 21 Aug 2023 Asian markets
Shares in the Asia-Pacific region were trading mixed on Monday. China’s Shanghai Composite and Shenzhen Component were lower by 0.41% and by 0.23% respectively. Japan’s Nikkei 225 traded with gains of 0.28%. South Korea’s Kospi declined 0.59% while Hong Kong’s Hang Seng fell 0.88%. The Taiwan Weighted index recorded a gain of 0.07%.
07:41 (IST) 21 Aug 2023 Wall Street overnight
The S&P 500 ended nearly flat on Friday as gains in defensive sectors and energy offset weakness in megacap growth stocks, while investors looked toward next week’s speech by Federal Reserve Chair Jerome Powell, according to Reuters. S&P 500 slipped 0.01%, the Nasdaq Composite fell 0.2%, and the Dow Jones Industrial Average gained 0.07%.