Market updates: It was a sideways market today
Market updates: It was a sideways market today. The market opened in red, the Asian market was not supportive in the morning. SGX Nifty was also indicating negative for the Indian market. During the day the benchmark indices moved sideways, in a tight range. In end Nifty50 managed to hold the 11,500 mark.
Stock Market moved sideways today
At closed, Nifty fell 58.80 points and closed at 11,512.40 and Sensex fell 167.70 points and closed at 38822.47. Bank Nifty was also trading in a tight range today, it fell 0.42% or 125.90 points and closed at 29876.70. Nifty midcap and smallcap 100 indexes fell more than 1% today. Nifty midcap 100 fell 178.85 points and closed at 16,271 and smallcap plunge 67.30 and closed at 5683.60. It was a sideways market today.
The top five Nifty50 gainers of the day are Bharti Airtel, Bajaj Finance, Kotak Mahindra, ITC and Bajaj Finserve. The top five Nifty50 losers of the day are Vedanta, Zee Ent, Yes Bank, IndusInd and Tata Steel. In the Nifty midcap, the top gainers are Manapurram Finance and PI iNdustries and the top losers are Indiabulls venture and HEG. In the Nifty smallcap the top gainers of the day are MOIL and RCom and the top losers are Suzlon Energy and Indiabulls real estate.
Except for Insurance, Footwear and consumer durables all other sectors ends in red today. Auto, metal, pharma, energy sectors are the major loser today. Yesterday FIIs and DIIs both buyers in the Cash Segment.
Stock News updates today
Lakshmi Vilas Bank is in news and Economic Offence Wing (EOW) has registered an FIR against the directors of the company. The share price of Lakshmi Vilas Bank reacted negatively and fell 4.95 % and closed at Rs 36.50 per share.
Yes Bank promoters sold more stake in Yes Bank, to repay the debt of privately held firm Yes Capital Pvt Ltd (YCPL). The share price of Yes Bank touch 52 week low at Rs 48.40 in NSE and closed at 4.51% down at Rs 48.75 per share.
The global research firm Morgan Stanley has maintained on overweight on stock ITC with a revised target of Rs 370 from Rs 360 per share. The share price of ITC has gained 1.02% on the news and closed at Rs 252.95 per share
The Lara Super Thermal Power Station (2×800 MW) project will be operational from 30th Sept. Hence the commercial capacity of NTPC will be increased. The foreign research firm CLSA maintained a Buy rating on NTPC with a target price of Rs 165 per share. The share price of NTPC reacted positively gained 0.43% and closed at Rs117.05 per share.
The credit rating agency Brickwork has downgraded the rating of Reliance Capital’s NCDs and Debentures The share price if Reliance capital fell 4.77% and closed at Rs27.95 per share.
The Maruti Suzuki has cut price for Baleno RS by Rs 1 lakh, The share price of Maruti has fell 1.22% and closed at Rs 6773.70 per share.
A public interest litigation (PIL) was filed against the Indiabulls Housing Finance, Delhi HC has issued a notice against the company. The stock has become nervous and fell 5.72% and closed at 390.10 per share.
Other market updates
Brent crude oil future price is trading lower. It is currently trading at $61.94 per barrel, down almost 1.25% from the yesterdays close. Whatever prices increased in crude oil after the Saudi attack has been corrected now. The Indian rupee is currently trading at Rs 70.55 against the US dollar, got appreciated 0.58% from yesterday’s rate.
Conclusions:
We have mentioned above all the important market updates that have happened today. It was a sideways market today Nifty and Bank Nifty moved in range-bound. On Monday the market will open as per Asian markets and SGX Nifty and aftermarket, the infrastructure output data will be released. Tomorrow traders can also read our Nifty and Bank Nifty technical level report for Monday’s trade
