Market Updates-Nifty 50| Bank Nifty| FIIs | Macro data…
Market Updates-We will update you about Nifty 50, Bank Nifty, FIIs positions, Macro data and many more today. As stated in our yesterday’s Market Updates, Nifty and Sensex was volatile for the day and closed in negative in the end.
Today morning market opens positive after getting a positive indication from the global market. Yesterday, U.S. President Donald Trump has postponed the imposition of 5% extra tariffs on Chinese goods by two weeks. Asian Market was green in the morning on hopes for a thaw in US-China trade war.
Market updates on Nifty 50 Stocks
Nifty has declined 52.90 points and Bank Nifty on spot gained 42.30 points but declined 38 points in the future at the close. Nifty closed at 10982.40 points and Bank Nifty closed at 27818.50 on spot today.
The top five Nifty 50 gainers for the day are Ultratech Cement, ICICI Bank, Hindalco, Sun Pharma, and IndusInd Bank. The top five Nifty 50 losers for the day are Yes Bank, Tata Motors, Maruti Suzuki Axis and Jsw Steel. Sectors like auto, Oil & Gas, Manufacturing and IT dragged the market today.
Nifty midcap and smallcap 100 index was also positive in the morning today. At close Nifty midcap 100 fell 48.55 points and Nifty smallcap gained 16.80 points. The top gainers in the Nifty midcap index are HEG and Graphite India gained around 7%. The top gainers in the Nifty smallcap index are Indian Tourism and Wakhard gained 18% and 11% respectively.
Indian CPI and IIP data
Yesterday, we already mentioned in our Nifty and Bank Nifty report that in the second half market would be volatile today. Exactly the same thing happened, you can also go through our yesterday’s market update reports. It was because investors booked profit ahead of IIP data and CPI data released after market hours. The European Central Bank meeting for the stimulus package is also scheduled later today.
The retail inflation CPI has increased marginally to 3.21% from 3.15% in July. The July IIP has jumped to 4.3% from 2% in June. The marginal difference in CPI is because of the increase in food and vegetable prices. The more three fourth of the entire Index of IIP is manufacturing, it grew 4.2% in July. Tomorrow, the market will definitely react to positive IIP numbers.
Today FIIs are net buyers in cash segment bought Rs 783.55 crores whereas DIIs are the net seller sold Rs126.82 crores. Indian rupee appreciated 0.75% and closed at Rs71.02 against the US dollar. The Brent crude oil price is falling down today, currently, it is trading at $59.95 per barrel.
Conclusion:
Tomorrow we may see some up move in the Indian stock market due to CPI and IIP data. Currently, the US and Europe markets are also showing positive indication at 9 pm. SGX nifty is showing 31 points up. Traders are advised to check the Asian markets before placing any order.
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Indian Stock Market Outlook for September Series
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