Sensex and Nifty today ahead of FED policy outcome.

September 18, 2019September 24, 2019 admin

After two negative trading session, Sensex and Nifty closed in positive today ahead of FED policy outcome. At close, Nifty was up 23.10 points and closed at 10840.70. Sensex gained 82.79 points and closed at 36563.88. Bank Nifty also gained 40.95 points up and closed at 27172.90

Stock market today

The market rallied sharply around 12 pm after the news flashed that Finance Minister wants to brief the media on Cabinet Decision at 3 pm. The press conference was for banning e-cigarette in India. The markets got corrected immediately after the agenda of the press conference was cleared around 3 pm.

Cabinet has approved to ban E-Cigarettes in India. Earlier the health minister had proposed for banning the devices in public interest which was growing among youth and to save the tobacco farmers. The share price of ITC and Godfrey Phillips has jumped from the lower level

The sectors like Metals, OMC, Paper, Real Estate, IT are ended in green today whereas sectors like Media, Manufacturing, Capital goods, Telecom are ended in red. The Nifty midcap 100 index gained 50.65 points and closed at 15680.80. The Nifty smallcap 100 index gained 14.05 points and closed at 5511.40.

The top five Nifty gainers of the day are Tata Steel, BPCL, Vedanta, JSW Steel, and IOC. The top five Nifty losers of the day are Britannia, Coal India, ONGC, Eicher Motors, and Yes Bank.

The Prestige Estate and Sterlite Techno share price gained 7.11% and 5.61% respectively in Nifty midcap space. Whereas HEG and Indiabulls Vent. share price fell 4.26% and 3.72% respectively during the day. In Nifty small-cap space, Godfrey Phillip and ITI gained around 5% and the share price of India Tourism and MMTC fell 9.64% and 6.78% respectively.

Sensex and Nifty stock news today

Bajaj Finance to raise Rs 8500 crores via QIP, it has been approved in the board meeting held on 17th September. The share price of Bajaj Finance up 1.35 % and closed at Rs3413.85 per share.

Axis Bank will launch a QIP of $ 1.5-2 billion soon for the growth and development of the Bank. The share price of Axis Bank was up 1.24% and closed at Rs 648.40 per share

The PSU Bank, Bank of Baroda will raise up to Rs 1000 crore through the bond issue. The share price of BOB has gained 0.84% and closed at Rs 95.95 per share.

HCL Technologies has secured a contract with Aperam, a Luxembourg based company, a global player in stainless, electrical and specialty. The share price of HCL Technologies has gained 0.25% and closed at Rs 1058.45 per share.

Balmer Lawrie in its board meeting on 17th September decided to defer the bonus issue plan. The share price of Balmer Lawrie has shed 6.25% today and closed at Rs 168.70 per share.

On the global front, the Brent crude oil future price is trading lower today, currently, at 4.30 IST it is trading at $64.30 per barrel, down almost 0.40% from the previous close. The Saudi drone attack on their oil fields, India got assurance from Saudi that this will have no impact on oil supply to India.

Indian rupee got appreciated after two days of fall, the rupee is currently trading at Rs71.21 against the US dollar, got an appreciation of 0.36% today till 4.30 pm.

Conclusions:

Now the whole focus is on the FED meeting decision which will be announced today. It is expected to cut 25bps interest rate but the main focus will be on the commentary. Traders are advised to follow the global market before trading in Nifty and Sensex stocks. Indian market trend is down at this moment, you can read more on Nifty and Bank nifty technical views for tomorrow’s market.

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