Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity indices NSE Nifty 50 and BSE Sensex closed in the green on Wednesday. Nifty 50 closed at 19,347.45, while Sensex closed the trading session at 65,087.25. The broader markets settled largely in the green, with Nifty Smallcap 50 and Nifty Midcap 50 adding 1.35% and 0.86%. Bank Nifty shed 262.65 points to close at 19,232.60. Nifty Realty, Metal, IT and Auto were the leading gainers among the other sectoral indices.
Live Updates 15:35 (IST) 30 Aug 2023 Markets at close
The NSE Nifty 50 closed at 19,347.45, while the Sensex closed the trading session at 65,087.25.
15:25 (IST) 30 Aug 2023 Rupee likely to be rangebound
“Indian Rupee appreciated on Wednesday on positive domestic equities and a soft US Dollar. However, a rise in risk appetite in global markets may support the domestic unit. Traders may take cues from GDP, goods trade balance, pending home sales and ADP jobs data today. Investors may remain cautious ahead of India’s manufacturing PMI and GDP data later this week. USDINR spot price is expected to trade in a range of Rs 82.40 to Rs 83.”
– Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas
15:01 (IST) 30 Aug 2023 Nifty Smallcap 50 leads gains across broader indices
Nifty Smallcap 50 surged as much as 1.46% intra-day to 5,604.90. BSE, Suzlon Energy, Hindustan Copper, Renuka Sugars, RBL Bank, EaseMyTrip, and IRB Infrastructure Developers are among the top gainers.
14:43 (IST) 30 Aug 2023 Nifty Midcap 50 surges
Nifty Midcap 50 soared 113.45 points to 11,222.80. Indian Hotels Company, Jubilant Foodworks, Escorts, Steel Authority of India, Vodafone Idea, and TVS Motor are among the top gainers.
13:14 (IST) 30 Aug 2023 Zomato share price continues to soar
Zomato’s share price surged by as much as 5% in early Wednesday trading and continues to perform strongly, trading at Rs 99.10 per share on the National Stock Exchange, reflecting an increase of 4.65%.
12:20 (IST) 30 Aug 2023 Shakti Pumps (India) hits 52-week high
The shares of Shakti Pumps (India) soared as much as 17.85% to hit a new all-time high of Rs 848.75. The surges came after Shakti Pipes secured a Rs 358 crore order from the Haryana Renewable Energy Department under the Kusum-3 scheme.
11:13 (IST) 30 Aug 2023 Rishabh Instruments IPO opens for subscription
Rishabh Instrument IPO opened for public subscription on Wednesday, August 30, and will close on Friday, September 1. The company collected Rs 147.23 Crore from the Anchor investors ahead of the public issue. The price band for its public issue at Rs 418-441 per equity share of face value Rs 10 each.
The IPO comprises a fresh issue of 1,700,680 shares up to Rs 75 Crore and an offer for sale (OFS) of 9,428,178 shares up to Rs 415.78 Crore. The shares are likely to get credited on September 8 and listed on the stock exchanges on September 11, according to reports.
09:26 (IST) 30 Aug 2023 Market may remain steady in the near-term
“An important feature of the market performance this year is India’s underperformance relative to the US. While S&P 500 is up 17.6% YTD, the Nifty is up only 6.3% YTD. Relatively high valuations in India are constraining a strong rally. Of late, the poor monsoon this year, till now, is also emerging as a major worry. In the near-term market may remain steady on favourable global cues. The US consumer index indicates that the US economy is slowing down. If the payrolls data expected this Friday confirms this trend, the Fed will not resort to another rate hike soon. This assessment has led to decline in US bond yields and the dollar index, which, in turn, has improved equity market sentiments. The declining dollar is favourable for gold. Capital goods is a strong segment in the market now. A matter of concern is the poor quality of stocks participating in the mid-and small-cap rally.”
– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
09:06 (IST) 30 Aug 2023 Top global cues to watch out for
Positive global cues coming in for Indian markets. Asian markets have begun trade on a positive note mirroring cues coming in from the US. The GIFT Nifty indicated that the markets may kick off on a positive note. The GIFT Nifty futures stood at 19,535 points. Reuters report suggesting that some Chinese state-owned banks may lower rates on existing mortgages added momentum to trade across Asia. The Japanese market logged in third straight day of gains.
The US markets ended significantly higher and off the August lows. The Nasdaq Composite climbed more than 1% buoyed by chipmaker Nvidia which gained more than 4% after the announcement of its partnership with Google.
The tech-heavy index, Nasdaq gained 1.74% to close at 13,943.76. The Dow Jones Industrial closed up 0.85% at 34,852.67 and the S&P 500 climbed 1.45% to shut shop at 4,497.63 — its best since early June. In fact, all three indices are well above their 50-day moving average for the first time in almost two weeks. The US Treasury yields however traded softer on data coming in lower than estimates.
08:56 (IST) 30 Aug 2023 Domestic Indices may open firm amid positive global cues
“Markets may start firm amid positive global cues, and is currently showing a positive consolidation near the 50-day SMA (Simple Moving Average). A fresh uptrend rally at 19,380 is necessary for the bullish momentum to continue. If the market goes above that, the index may move higher towards 19,440 – 19,480. Conversely, the sentiment may change if the market goes below 19,280. In such a case, the market may slip till 19,250 – 19,225. For Bank Nifty, the index could move up to 44950, while support exists at 44,400 and 44,200. The Nifty IT index is narrowing down its trading range, which may result in trending activity in the near future.”
– Shrikant Chouhan, Head of Research (Retail), Kotak Securities
08:50 (IST) 30 Aug 2023 US Fed rate hike cycle could be nearing end
“Strong buoyancy in overnight US markets and optimism in other Asian indices could lift the domestic market mood in early trades. There are reports that the US economy could be weakening, which now raises hopes that the Fed rate hike cycle could be nearing the end. Investors can heave a sigh of relief as both FIIs and domestic funds were net buyers in yesterday’s trade, although the former has been mostly offloading shares this month. However, the intraday choppy trend may continue ahead of tomorrow’s monthly F&O expiry. Technically, Nifty’s upside is capped at 19,437 – 19,589 zone.”
– Prashanth Tapse, Senior VP (Research), Mehta Equities
08:15 (IST) 30 Aug 2023 F&O ban
The National Stock Exchange has Escorts Kubota, GMR Airports Infrastructure, Hindustan Copper, Indiabulls Housing Finance, Manappuram Finance, RBL Bank, and Sun TV Network securities on its F&O ban list for 30 August.
08:10 (IST) 30 Aug 2023 FII, DII data
Foreign institutional investors (FII) bought shares worth net Rs 61.51 crore, while domestic institutional investors (DII) purchased shares worth net Rs 305.09 crore on 29 August.