Sensex today: live stock market updates: Sensex swings to black, rises 100 points; Airtel and NTPC’s leading gainers; The indicators for information technology and consumer goods are the lowest
“Markets will be limited in scope with a focus on global macros and oil,” said Mayorish Joshi, head of equity research at William O’Neil & Co in India.
Oil prices fell on Tuesday after rising 3% in the previous session, as the OPEC+ deal to cut production in October was seen as a largely symbolic move to stem the recent market slump, while Asian stocks rose after China pledged renewed efforts to bolster its ailing economy.
In Mumbai, the Nifty IT Index was among the worst performing sub-indices, falling 0.8% to its lowest level in one week. Infosys is down 1%.
Reliance Industries gained 1.1% after the company said it would acquire a 79.4% stake in California-based solar software developer SenseHawk for $32 million as part of efforts to boost renewable energy production.
Apollo Hospitals Enterprise rose 2.9% to be the top gainer in the Nifty 50 Index.
DreamFolks Services, India’s largest airport services aggregator, surged 68.4% in its first market debut. The shares jumped as high as 549 rupees, compared to the issue price of 326 rupees.
Kalpataru Power Transmission jumped 8.5% to post the largest percentage increase in more than a year in heavy volumes after the company won $168 million in orders.
New Delhi TV is down 5% after rising more than 50% over the past nine sessions amid a takeover battle between its promoters and Adani Group.
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What will affect the markets in September?
In India, the Reserve Bank of India’s Monetary Policy Committee meets from September 28-30. We may see a 35-50 basis point rise, which could be the last RBI hike in 2022. If the inflation trajectory remains downward, we expect the RBI to cut rates by 2023.
We believe that the Indian stock market will reach new highs in 2022 due to strong economic growth, low inflation and strong return of the FII.
Sunil Damania, Chief Investment Officer, MarketsMojo
Live Market Update: Biggest Loser From FMCG Package
Price on 06 Sep 2022 12:07 PMClick on company names to see their live prices.
Gold imports in August halved due to price volatility and weak rupee
India’s gold imports halved in August from a year ago, a government source told Reuters on Tuesday, as volatile domestic prices and a weak rupee prompted consumers to delay purchases. While lower imports by the world’s second-largest consumer of bullion could weigh on benchmark gold prices, the decline could help curb India’s trade deficit and support the faltering rupee. The source, who asked not to be identified, said the country imported 61 tons of gold in August, compared to 121 tons a year earlier. In value terms, August imports fell to $3.52 billion from $6.7 billion a year ago, he said.
Kalpataru Power Transmission Ltd (KPTL) on Tuesday said the company and its international subsidiaries have secured new orders worth Rs 1,345 crore. KPTL said in a regulatory filing that the company and its international subsidiaries have secured new orders/contract notification worth Rs 1,345 crore.
Price on 06 Sep 2022 11:23 AMClick on company names to see their live prices.
Morgan Stanley has started covering on Apollo tires with a target price of Rs 329; Inventory up 5%
Price on 06 Sep 2022 11:17 AMClick on company names to see their live prices.
Wheezing: NDTV slips after 9 days of consecutive highs
Q1 Results: Dreams
- PAT: Rs 13.5 crore for a loss of Rs 1.38 crore
- Income: Rs 160 crore to Rs 25 crore
Check out the Biggest Losers of IT Package
Price on 06 Sep 2022 10:58 AMClick on company names to see their live prices.
TMB IPO Subscription Details: Issue is sent on the second day of the bidding process
- Bank share: 73%
- National Insurance Part: 82%
- Retail quota: 2.06 times
- Overall: 100%
Market now | Sensex is trading down 150 points, carrying 59K
DreamFolks services list a 56% premium on the issue price
DreamFolks Services made a strong debut in the market on Tuesday, with the stock listed at Rs 508.70 on NSE, 56.04 per cent more than the issue price of Rs 326. The stock extended its gains on the NSE to touch the highest level of the day at 549 rupees, which translates to a premium of 68 per cent over the IPO price.
Tata Power, GAIL, and BHEL are among the most active stocks in NSE
Price on 06 Sep 2022 09:57 AMClick on company names to see their live prices.
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Market view: Dr. F. K. Vijayakumar, Senior Investment Strategist at Geojit Financial Services
However, retail investors who invest directly in the market should not make the mistake of chasing cheap, low-quality stocks. High-quality caps will outperform when the market becomes weak. At the moment, the market is in control of the momentum and the bulls are in control. Nifty Bank is on the verge of collapse and has fundamental support.
NIFTY BANK SCLAES 40000 FOR THE FIRST TIME SINCE NOVEMBER
Opening Bell: Sensex earn 300 points, Nifty leads 17,750; Apollo tires rise 4%, NTPC 1%
Asian stocks rise on Chinese stimulus, next rate move
Asian stocks rose Tuesday morning after China pledged renewed efforts to boost its economy on Monday, while investors pinned hope for more clarity ahead of a number of central bank meetings.
SGX Nifty indicates a positive start
Nifty futures on the Singapore Stock Exchange traded 47.5 points, or 0.27 percent, up at 17,732, indicating that Dalal Street is headed for a positive start on Tuesday.
Quarterly earnings today
Nagarjuna Fertilizers & Chemicals, Global Aluminium, Giant Infratech and Arambhan Hospitality Services are among the companies that will announce their quarterly earnings today.
Technology opinion: Nifty50 forms a bullish candle; Analysts say it’s a buy in the dips market
Nifty50 finished Monday higher after two days of falling. The indicator formed a bullish candle on the daily chart and remained within a wider range. Analysts said the index is facing resistance at 17,780-800 and a break through it could attract buying. They see immediate support at 17500. They said it is a buy market on dips.
Oil drops due to symbolic OPEC + production cut
Oil prices fell early Tuesday, trimming the previous session’s 3% gain, as the OPEC+ deal to cut production by 100,000 barrels per day in October was seen as a largely symbolic move to stem the market’s recent slump. Brent crude futures were down 33 cents, or 0.3 percent, at $95.44 a barrel at 0054 GMT.
Tokyo Stock Exchange opens lower
Tokyo stocks opened at the open Tuesday in thin trading with few fresh market-moving events after the US stock market holiday. The Nikkei 225 index fell 0.17 percent, or 46.11 points, to 27573.50 in early trading, while the broader Topix index fell 0.25 percent, or 4.91 points, to 1923.88 points.
The rupee rose 9 pounds to close at 79.78 against the US dollar
The rupee rose 9 pounds to close at 79.78 against the US dollar on Monday, in line with the steady trend in local stocks.
Sensex, Nifty on Monday
The Sensex 30-share index rose 442.65 points to close at 59,245.98. The broader Nifty50 stock closed at 17665.80 points, up 126.35 points.
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