Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark domestic indices ended the week’s first trading session in red territory amidst the negative global cues. The NSE Nifty 50 fell 0.72% to settle at 19,512.35, while the BSE Sensex tanked 483.24 points to 65,512.39. The broader indices settled in negative territory, with Smallcap and Midcap stocks leading the losses. The Bank Nifty index shed as much as 474.10 points to 43,886.50. Among the other sectoral indices, the PSU Bank and Media stocks faced the highest corrections of 3.26% and 2.41%, respectively. Financial Services, Auto, Metal, and Private Bank stocks each tumbled by over 1%.
The volatility in the market remained high as the volatility index (India Vix) closed up 12.11%.
Live Updates
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
15:35 (IST) 9 Oct 2023 Markets at close
The NSE Nifty 50 fell 0.72% to settle at 19,512.35, while the BSE Sensex tanked 483.24 points to 65,512.39.
15:03 (IST) 9 Oct 2023 Crude Oil Outlook
“We remain cautiously bullish on crude oil prices in short term, supported by strong US economic data, and optimism surrounding Chinese economy bottoming out. The US shale oil rigs have reached to 497 counts, their lowest since Feb-2022, indicative for tight supply market ahead November is supported by $83 level, and we advise trade to buy the correction for target of $89/b,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.
14:19 (IST) 9 Oct 2023 Active stocks
Vodafone Idea, Suzlon, Infibeam Avenues, JP Power and Yes Bank are among the most active stocks on the NSE.
13:36 (IST) 9 Oct 2023 Godrej Properties announces opening of Taj The Trees
Godrej Properties on Monday announced the opening of Taj The Trees at its flagship project and one of the sustainably planned mixed-use developments by the company – The Trees in Vikhroli, Mumbai. The hotel, it said, is entirely owned by Godrej Properties and will be managed by the Indian Hotel Companies (IHCL) as a luxury Taj hotel.
13:32 (IST) 9 Oct 2023 IT Stocks shine
While the other sectoral indices have tumbled, the Nifty IT index gained 101.05 points, or 0.315, to 32,442.75 during the intra-day trade on Monday. HCL Tech and L&T Technology Services led the gains with 1.72% and 1.57%, respectively.
13:23 (IST) 9 Oct 2023 Oil Price surges
“WTI crude futures surged more than 4% to above $85 per barrel on Monday, recouping some losses from last week after a surprise attack by Hamas on Israel over the weekend started a conflict in the Middle East. While the violence is contained in the region for now, analysts fear that geopolitical tensions could escalate globally amid reports that Iran was involved in planning the attacks. We believe that the surge in crude oil price is likely to be temporary as neither Israel nor Palestine is a major oil supplier and, so far, the conflict has not directly threatened any major oil production or supply facilities. However, if this war prolongs for a longer period then it might affect crude oil price in the short term because the conflict is geographically close to major oil-producing and exporting nations,” said Rahul Kalantri, VP Commodities, Mehta Equities.
12:42 (IST) 9 Oct 2023 Volatility remains high
Market volatility remains high, with the volatility index (India VIX) trading up by 8.83% during Monday’s intra-day session.
12:11 (IST) 9 Oct 2023 Bank of Israel to sell $30 billion of forex
The Bank of Israel said on Monday it will sell up to $30 billion of foreign currency in the open market, in the central bank’s first ever sale of foreign exchange, to maintain stability during Israel’s war with Palestinian militants in Gaza. The move appeared to quickly calm the market as the shekel recovered from steep early losses, reported Reuters.
11:31 (IST) 9 Oct 2023 Market to witness increase in oil prices, higher volatility
“Palestinian Islamist group Hamas launched the largest military assault on Israel in decades. Increasing geopolitical risk in the Middle East could increase oil prices and higher volatility can be expected. This can have a lasting and meaningful impact on oil markets as there can be a sustained reduction in oil supply. Surging crude oil could impact domestic inflation and can see interest rates at an elevated level for a prolonged period. FIIs are continuously selling due to higher bond yields and high crude oil prices could add more issues. One should keep an eye on the nature of the war, as its longevity could have a strong impact. In the stock market, sectors like Paint and chemicals need to be closely watched as it will impact their margins in the short to medium term,” said Palka Arora Chopra, Director – Master Capital Services.
10:38 (IST) 9 Oct 2023 Railway stocks tank
The railway stocks faced sharp corrections during the early trading session on Monday. Among the key railway stocks, IRFC tanked 2.67%, IRCON International plunged 2.83%, IRCTC tumbled 1.73% and Container Corporation plunged 1.64%.
09:55 (IST) 9 Oct 2023 Israel war likely to Impact Oil, Stock market
“The ongoing conflict in Israel is an unforeseen event impacting the market, and its effects may take some time to be fully absorbed. Monitoring the situation closely, especially regarding the potential involvement of other actors like Iran, is essential. The possibility of a third front involving Iran is a significant concern as it could trigger a sharp increase in crude oil prices. From a technical standpoint, the 19,300–19,250 range is a critical demand zone. Until the market stabilizes within this range, it’s likely to remain in a sideways pattern, facing a notable obstacle at 19,800. A breach below 19,250 could lead to a healthy correction, potentially reaching the 18,800 level. For short-term traders, it’s advisable to exercise caution and not rush into trades. On the other hand, a substantial correction could present an excellent buying opportunity for long-term investors,” said Santosh Meena, Head of Research, Swastika Investmart.
09:42 (IST) 9 Oct 2023 USD-INR Outlook
“As per the weekly technical chart, the pair is trading above its moving average trend-line support level of 82.95 and RSI is fetching above 50 levels. Looking at the technical set-up, MACD is showing positive divergence but the pair is facing steep resistance at higher levels. As per the weekly technical chart the pair is having support at 83.15-82.95 while resistance is placed at 83.45-83.66. The pair is having crucial resistance at 83.35 and if it sustains above this level it may see further strength, else could test its support levels again. We suggest closely watching the levels of 83.15-83.35 for taking fresh positions in the pair; either side breakout of the range could give further directions,” said Rahul Kalantri, VP Commodities, Mehta Equities.
09:33 (IST) 9 Oct 2023 Sectoral indices trade in red
Sectoral indices trade in red, except IT. PSU Bank and Media stocks tanked 2.20% and 2.55%, respectively, during the early trading session on Monday, while Financial Services, Metal, and Private Bank stocks tumbled over 1% each.
09:20 (IST) 9 Oct 2023 Markets at Open
The NSE Nifty 50 opened at 19,539.45, up 0.58%, while the BSE Sensex opened at 65,560.0, down 435 points.
09:07 (IST) 9 Oct 2023 Bank Nifty Outlook
“Bank Nifty struggled to regain ground above the ascending trendline on the daily chart, indicating a bearish trend in the banking sector. Additionally, the index has consistently remained below crucial moving averages, further confirming this weak trend. Looking ahead, a significant breakthrough above 44,550 could potentially propel the index towards 45,000 and beyond. On the downside, support is located at 44,200,” said Rupak De, Senior Technical analyst at LKP Securities.
09:06 (IST) 9 Oct 2023 Technical Outlook
“Currently, the index is trading near the 50-day SMA (Simple Moving Average), and on weekly charts it has formed a Hammer kind of formation which is largely positive. As long as the index is trading above the 50-day SMA or 19575 level the positive sentiment is likely to continue. Above the same, it could move up till 20-day SMA or 19,800 and on further upside the index may also continue upsurge till 19,850. On the flip side, a fresh selloff is possible only after the dismissal of 19,575 and below the same, the index could retest the level of 19,450-19,350,” said Amol Athawale, Vice President – Technical Research, Kotak Securities.
09:04 (IST) 9 Oct 2023 Global Outlook
“The Israel-Hamas conflict has introduced a huge uncertainty for the markets. Nobody knows how this war is going to evolve. From the market perspective it is important to understand that even though the death and destruction are tragic, presently it is unlikely to cause major disruption in oil supplies thereby impacting major oil importers like India. But the situation will change if Iran, a major Hamas supporter, is drawn into the war. That can disrupt oil supplies causing a spike in crude, which can trigger a risk-off in the market. This is a time to be cautious. Investors may refrain from taking big risks. Wait for the developments to unfold. Long-term investors can slowly accumulate high quality stocks on declines,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
09:03 (IST) 9 Oct 2023 Derivative Outlook
“Nifty weekly contract has highest open interest at 20,000 for Calls and 19,500 for Puts while monthly contracts have highest open interest at 20,000 for Calls and 19,500 for Puts. Highest new OI addition was seen at 20500 for Calls and 19,600 for Puts in weekly and at 20,100 for Calls and 19,100 for Puts in monthly contracts. FIIs decreased their future index long position holdings by 0.33%, decreased future index shorts by 2.98% and increased in index options by 27.71% in Call longs, 18.49% in Call short, 29.68% in Put longs and 42.48% in Put shorts, said Anand James, Chief Market Strategist at Geojit Financial Services.
09:01 (IST) 9 Oct 2023 Market Outlook
“In sync with a sharp fall in Gift Nifty index, local benchmark indices are likely to start on a weak note in Monday trades. Investors will have to brace for volatility as there could be a knee-jerk spike in crude oil prices amidst impact of Israel-Hamas conflict. Oil futures have spiked more than 5% to above $87 per barrel following the outbreak of a conflict between Israel & Hamas, as a surging crude oil could impact domestic inflation and would see interest rates at an elevated level for a prolonged period. Keeping the mood bearish, the US bond yields have continued their upward bias as the 10-year treasury flared at 4.799%, while the yield on the 2-year Treasury has spiked to 5.085%, scaling a 16-year high,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
08:40 (IST) 9 Oct 2023 Stocks to watch
TCS, Adani Energy Solutions, Biocon, TVS Motor Company and IDFC First Bank are among the top stocks to watch on Monday.
08:40 (IST) 9 Oct 2023 F&O Ban
The NSE has added Punjab National Bank, Indiabulls Housing Finance, Delta Corp, and Manappuram Finance to its F&O ban list for October 9, 2023.
08:24 (IST) 9 Oct 2023 FII, DII Data
Foreign institutional investors (FII) offloaded shares worth net Rs 90.29 crore, while domestic institutional investors (DII) added shares worth net Rs 783.25 crore on October 6, 2023, according to the provisional data available on the NSE.
08:24 (IST) 9 Oct 2023 Crude Oil
WTI crude prices are trading at $86.39, up 4.35%, while Brent crude prices are trading at $87.97, up 4.14%, on Monday morning.
08:23 (IST) 9 Oct 2023 Wall Street
Wall Street ended in green on Friday. The tech-heavy Nasdaq Composite surged 211.51 points, or 1.60%, to 13,431.34. The Dow Jones Industrial Average gained 288.01 points, or 0.87%, to 33,407.58, while the S&P 500 added 50.31 points, or 1.18%, to 4,308.5.