Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices NSE Nifty and BSE Sensex closed in the green after a day of volatile trade. The blue-chip Nifty 50 index settled above 19,400, breaching a key resistance level while Sensex added 200 points after erasing losses from the morning trade. The broader markets closed primarily in the green, as fear gauge India VIX sank 0.45%. Nifty Smallcap 100 and Nifty Midcap 100 outperformed, while sectorally, Bank Nifty added over 1.1%, as PSU banking stocks soared. Despite surging over 1% intraday on Hindalco’s investment plans, Nifty Metal closed in the red, dragged by Adani Enterprises.
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15:45 (IST) 23 Aug 2023 Chandrayaan 3 effect on rupee
“An upcoming key trigger for the rupee is the Chandrayaan 3 mission’s landing on the moon, which is anticipated to lead to further FPI inflows. The expected successful landing, scheduled for around 6 pm on August 23, 2023, could further boost the rupee’s positive momentum.”
– Jateen Trivedi, VP Research Analyst at LKP Securities
15:34 (IST) 23 Aug 2023 Nifty technical levels
“The Nifty continues to trade within the broader range of 19,300 and 19,500. On the daily timeframe, the headline Nifty index has been fluctuating between the boundaries set by the 21-day Exponential Moving Average (EMA) at 19,471 and the 50-day EMA at 19,281. Looking ahead, the Nifty is likely to maintain this range bound movement as long as it remains within these established thresholds. A significant breakthrough above the 19,500 mark could potentially trigger a rally towards higher levels.”
– Rupak De, Senior Technical analyst at LKP Securities
15:32 (IST) 23 Aug 2023 Markets at close
NSE Nifty 50 index settled at 19,439.9 above 19,400, breaching a key resistance level while Sensex added 200 points after erasing losses from the morning trade, closing at 65,433.3.
15:17 (IST) 23 Aug 2023 SCBs NIIs rise
Net Interest Income (NII) of Scheduled Commercial Banks (SCBs) grew by 26.5% on-year to Rs. 1.84 lakh crore in Q1FY24 due to healthy loan growth and a higher yield on advances over the year-ago period.
14:08 (IST) 23 Aug 2023 Brightcom Group falls 5%
Brightcom Group said on Wednesday it has set up an internal team to review its options after the market regulator found “manipulations” in its preferential share allotment and barred two top executives from director posts. The digital marketing company’s shares fell about 5%.
13:31 (IST) 23 Aug 2023 Hindalco gains 3%
Hindalco’s share price jumped 3.3% in trade on Wednesday as the metal firm announced a Rs 4,000 crore investment plan to establish an extrusion facility for freight wagons and coaches as well as a copper and e-waste recycling plant at the company’s 64th annual general meeting on Tuesday. On the back of this news, Nifty Metal also saw a gain of over 1% intraday.
12:01 (IST) 23 Aug 2023 Banking stocks gain
Nifty PSU Bank traded 1.3% higher as Bank Nifty rose 0.42%.
10:48 (IST) 23 Aug 2023 TVS Supply Chain Solutions IPO
TVS Supply Chain Solutions shares listed at 4.72% premium over IPO price on NSE and BSE amid flat domestic market. The share debuted at Rs 206.30 on the BSE, as compared to the issue price of Rs 197.
10:09 (IST) 23 Aug 2023 Derivative view
Nifty weekly contract has highest open interest at 19400 for Calls and 19300 for Puts while monthly contracts have highest open interest at 19500 for Calls and 19000 for Puts. Highest new OI addition was seen at 19400 for Calls and 19150 for Puts in weekly and at 19400 for Calls and 18000 for Puts in monthly contracts.
09:25 (IST) 23 Aug 2023 JFS tanks 5%
Jio Financial Services shares hit the lower circuit of 5% for the third consecutive session on sustained fund outflows.
09:24 (IST) 23 Aug 2023 Factors dampening sentiment
“Caution may still prevail as markets are in a consolidation mode over the past week and intra-day volatility has been the ongoing theme. While there is growing anxiety about China’s economy, S&P Global Ratings has joined Moody’s Investors Service and downgraded some US banks due to a challenging economic environment, which could dealt a major blow to investors’ sentiments world wide.”
– Prashanth Tapse, Senior VP (Research), Mehta Equities
09:21 (IST) 23 Aug 2023 Markets at open
NSE Nifty and BSE Sensex began positively on Wednesday. Sensex commenced at 65,300.93, while Nifty opened at 19,410.35, above the 19,400 level.
08:39 (IST) 23 Aug 2023 Bank Nifty outlook
“Bank Nifty has tried to sustain above 44,000 however as the day progressed it witnessed selling pressure and closed marginally in the red. The pullback towards key hourly moving averages placed in the range 44,000 – 44,100 is providing a stiff resistance. Unless the Bank Nifty manages to sustain above the resistance zone we can expect the selling pressure to continue. On the downside the Nifty Bank Nifty can slip towards 43,500 from a short term perspective,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
08:27 (IST) 23 Aug 2023 F&O ban
Oil prices eased in early trade on Wednesday, weighed down by fears U.S. interest rates could stay higher for longer and economic growth could slow further in top crude importer China and hurt fuel demand.
08:26 (IST) 23 Aug 2023 Crude oil
Oil prices eased in early trade on Wednesday, weighed down by fears U.S. interest rates could stay higher for longer and economic growth could slow further in top crude importer China and hurt fuel demand.
08:26 (IST) 23 Aug 2023 Wall Street overnight
The Dow and S&P 500 ended slightly lower on Tuesday as investors stayed worried the Federal Reserve will keep interest rates higher for longer and as bank shares eased, according to Reuters. The Dow Jones Industrial Average declined 0.51%, while the S&P 500 fell 0.28%, and the Nasdaq Composite edged up 0.06%.