Sensex Today: STOCK MARKET HIGHLIGHTS: Nifty50 bulls look tired; stay cautious


Nifty50 somehow pushed its winning run to the eighth straight day on Thursday. The index made a similar high as Wednesday’s, as the bulls looked tired at highs. Analysts are cautious.
The ‘RSI Smoothed’ oscillator has given a negative divergence on the lower time frame chart in the overbought zone, which is the first sign of caution, said Ruchit Jain, Lead Research, 5paisa.com.

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US stocks waver in early trade as investors assess Fed minutes

Wall Street’s main indexes were little changed at the open on Thursday, with investors seeking fresh signals for future rate hikes after minutes from the Federal Reserve’s July meeting suggested a less aggressive monetary policy tightening path.The Dow Industrial Average inched 0.05% lower, or 17 points, while the S&P 500 slipped 0.06%. The Nasdaq Composite fell 0.23%.

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US stocks waver in early trade as investors assess Fed minutes

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Nifty50 bulls look tired; stay cautious

Nifty50 somehow pushed its winning run to the eighth straight day on Thursday. The index made a similar high as Wednesday’s, as the bulls looked tired at highs. Analysts are cautious.The ‘RSI Smoothed’ oscillator has given a negative divergence on the lower time frame chart in the overbought zone, which is the first sign of caution, said Ruchit Jain, Lead Research, 5paisa.com.The index closed the day at 17,956.50, up 12.25 points or 0.07 per cent. The NSE barometer formed a small bullish candle on the daily chart.

Nifty50 bulls look tired; stay cautious

Sebi comes out with guidelines for overseas investment by AIFs, VCFs

Sebi on Thursday came out with new guidelines for Alternative Investment Funds (AIFs) and Venture Capital Funds (VCFs) for making investment abroad, under which overseas investee firms won’t need to have an Indian connection. Under the rules, AIFs can invest in securities of companies incorporated outside India. Besides, VCFs are allowed to make investments in off-shore venture capital undertaking, subject to certain conditions.One of the conditions was that such overseas investments were allowed only in those companies which had an Indian connection. Like, a company has a front office overseas, while having its back office operations in India.

Sebi comes out with guidelines for overseas investment by AIFs, VCFs

Indian rupee falls as Fed minutes prop dollar

The Indian rupee slipped on Thursday against a steady greenback that found support from minutes of the U.S. Federal Reserve’s last meeting that hinted higher interest rates could stick for longer.The partially convertible rupee ended at 79.6725, having flirted with the key 79.70 level occasionally during the session. The local unit had closed at 79.4450 on Wednesday.Traders widely expect the rupee to tread the 79-80 range for at least another week, with no major events around the corner.

Indian rupee falls as Fed minutes prop dollar

Gold falls Rs 32; silver declines Rs 348

Gold in the national capital on Thursday fell Rs 32 to Rs 52,224 per 10 grams, according to HDFC NSE 0.25 % Securities. In the previous trade, the yellow metal had finished at Rs 52,256 per 10 grams.Silver also declined Rs 348 to Rs 57,298 per kg from Rs 57,646 per kg in the previous trade.

Gold falls Rs 32; silver declines Rs 348

Sectoral Watch: Realty, FMCG lead gainers

Sectoral Watch: Realty, FMCG lead gainers

Following the release of the Fed minutes, domestic equities experienced profit booking amid weak sentiment from global peers. The minutes showed that even while decision-makers were concerned about the impact of aggressive actions, they were in favour of raising rates further. In the domestic market, IT and pharma were the major laggards, responding to the fall in the US stocks, while financials maintained their support.

– Vinod Nair, Head of Research at Geojit Financial Services

Top Sensex gainers & losers in trade today

Top Sensex gainers & losers in trade today

Closing Bell: Sensex recovers 352 pts from day’s low, ends marginally higher; Nifty tops 17,950; IRCTC rallies 7%, Adani Ent 5%

Pharmaceuticals firm Lupin Ltd on Thursday said it has received approval from the US health regulator to market its generic rufinamide tablets used in the treatment seizures.

Price as on 18 Aug, 2022 03:20 PM, Click on company names for their live prices.

Global Market Check

  • The Stoxx Europe 600 was little changed as of 8:27 a.m. London time
  • Futures on the S&P 500 fell 0.3%
  • Futures on the Nasdaq 100 fell 0.4%
  • Futures on the Dow Jones Industrial Average fell 0.2%
  • The MSCI Asia Pacific Index fell 0.7%
  • The MSCI Emerging Markets Index fell 0.7%

STOCK IN FOCUS: TATA POWER

DreamFolks Services’ IPO to kick off on Aug 24

The initial share-sale of airport service aggregator platform DreamFolks Services Ltd will open for public subscription on August 24. The three-day public issue would conclude on August 26 and the bidding for anchor investors would open on August 23, according to the red herring prospectus (RHP).The initial public offer (IPO) is entirely an offer for sale of up to 1.72 crore equity shares by promoters Liberatha Peter Kallat, Dinesh Nagpal and Mukesh Yadav. The public issue will constitute 33 per cent of the post offer paid-up equity share capital of the company.

Kotak MF sees India’s bond yields confined in tighter ranges

Falling global oil prices and tempering inflation levels will keep Indian bond yields in tighter ranges and cause longer term yields to compress further, says Kotak Mahindra Asset Management Company. Lakshmi Iyer, chief investment officer for debt and head products at Kotak expects the benchmark bond yield to trade in a range of 10-15 basis points from its current levels, tighter than the 22-25 bps range in June and July. She also expects the yield on the new 10-year bond being auctioned this week to be 5-6 basis points lower than prevailing rates. Ten-year yields were around 7.24% on Thursday.

Top NSE gainers in afternoon session

Price as on 18 Aug, 2022 02:25 PM, Click on company names for their live prices.

BSE Realty index rallies over 1%

BSE Realty index rallies over 1%

India’s macro stability outlook improving: Morgan Stanley

India’s worst period of macro instability is possibly over, and both consumer inflation and trade deficit are expected to moderate albeit gradually, Morgan Stanley said. “Global commodity prices were largely steady last month, with the exception of oil prices which continued to decline,” Upasana Chachra, chief India economist at Morgan Stanley, said in the note on Wednesday.

STOCK IN FOCUS: Tata Motors

Just In: Dilip Buildcon bags Rs 1400 cr order

Just In: Dilip Buildcon bags Rs 1400 cr order

Highlights from ICICI Bank’s annual report

BLOCK DEAL IN ONGC: Over 10 lakh shares change hands

Price as on 18 Aug, 2022 12:35 PM, Click on company names for their live prices.

Big bull market coming if Nifty doesn’t fall in next 2-3 months: Nithin Kamath

Given how many investors, both in India and abroad, are still willing to bet big on the India growth story, Zerodha CEO Nithin Kamath believes that we might be treated with a big bull market provided Nifty doesn’t fall in the next 2-3 months. However, he also warns that the “ferocious bear market rally” in the US may not last long, which in turn, will also affect India.

Big bull market coming if Nifty doesn’t fall in next 2-3 months: Nithin Kamath

Hindustan Aeronautics Limited has signed an MoU for establishing an office in Kuala Lumpur (Malaysia). The office in Malaysia will help HAL in tapping the new business opportunities for Fighter Lead-in Trainer (FLIT) LCA and other requirements of Royal Malaysian Air Force (RMAF) like Su-30 MKM and Hawk upgrades, the Bengaluru-headquartered company said in a statement on Thursday.

Price as on 18 Aug, 2022 11:18 AM, Click on company names for their live prices.

JUST IN | SC disposes SpiceJet-Credit Suisse case as settled: Agencies

JUST IN | SC disposes SpiceJet-Credit Suisse case as settled: Agencies

How is crypto market faring in trade today

Dynacons wins order worth Rs 105 crores from Life Insurance Corporation of India; stock hits 5% upper circuit

Price as on 18 Aug, 2022 11:05 AM, Click on company names for their live prices.

Feeling blue! Top losers from the pharma pack

Price as on 18 Aug, 2022 10:35 AM, Click on company names for their live prices.

3.4% equity block deal: Embassy REIT

3.4% equity block deal: Embassy REIT

On the technical front, Nifty formed a positive candle on the daily chart and is close to challenge the life time high. The trendline resistance adjoining the highs of Oct’21, Jan’22 and Apr’22 has been breached and is trading comfortably above it. Against such backdrop one can expect that the present rally to extend further immediately towards 18100-18150 levels. Likewise support base has now shifted higher to 17,500 to 17,550 range (gap support). Momentum oscillator though are trading in overbought price conditions, but no signs of exhaustion can be seen yet rather had been supportive with weekly RSI breached past the 6-months falling trend line. Market breadth has seen remarkable improvement, indicating broader market participation across sectors.

– Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking

Vodafone Idea, YES Bank among most active stocks on NSE

Price as on 18 Aug, 2022 09:49 AM, Click on company names for their live prices.

Power Mech Projects bags Flue Gas Desulphurisation (FGD) projects worth Rs 6,163.20 crore from Adani Group; stock rises 3%

Price as on 18 Aug, 2022 09:37 AM, Click on company names for their live prices.

Market View: Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The Fed minutes suggest continuation of the hawkish stance and this may slightly impact sentiments in the mother market, US. But this is unlikely to impact the bullish sentiments in India since the return of the FIIs has completely altered the market mood and the bulls are calling the shots now. Dips are likely to get bought in the near-term.

From the fundamental perspective, there are no triggers to take the market much higher from the present levels since there is no valuation comfort. Nifty is now trading at around 21 times FY23 earnings. The market, it appears, is banking on continuation of good GDP and earnings growth this year and the next. If the growth momentum sustains capital goods and automobiles will attract more buying.

SONA COMSTAR: 16% equity traded in a block deal

SONA COMSTAR: 16% equity traded in a block deal

OPENING BELL: Sensex drops 150 points, Nifty below 17,900; DRL, SBI Card tank 3% each

OPENING BELL: Sensex drops 150 points, Nifty below 17,900; DRL, SBI Card tank 3% each

Rupee opens down 0.20% at 79.60 per US dollar; previous close 79.4450

Rupee opens down 0.20% at 79.60 per US dollar; previous close 79.4450

Asia shares ease, dollar holds firm after Fed minutes

Asian shares tracked lower on Thursday, in step with Wall Street’s losses, as even the prospect of a less aggressive Federal Reserve has still set the U.S. central bank on a path for interest rates to stay higher for longer.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 19 points, or 0.11 per cent, lower at 17,949, signaling that Dalal Street was headed for a negative start on Thursday.

Oil prices ease as Russia output increases

Oil prices eased on Thursday, reversing course from the previous session, as rising output from Russia and worries about a potential global recession weighed on futures. Brent crude futures fell 33 cents, or 0.4%, to $93.32 a barrel. U.S. crude futures fell 40 cents, or 0.5%, to $87.71 a barrel.

Tokyo shares open lower after US losses

Tokyo shares opened lower Thursday following US losses, while investors locked in profits after recent market gains. The headline Nikkei 225 index fell 0.93 percent or 273.02 points to 28,949.75 in early trade, while the broader Topix index lost 0.76 percent or 15.35 points to 1,991.64.

Tech View: Nifty50 in overbought zone, but there are no signs of weakness

There are no signs of weakness. If anything, momentum picked up after a couple of days of narrow range trading. That said, the index has been showing an overbought reading of 83 on 14-day relative strength index (RSI) and could face hurdles around record high levels.

Wall Street ends down, but indexes briefly cut losses after Fed minutes

U.S. stocks closed lower on Wednesday, with indexes volatile after minutes from the Federal Reserve’s meeting in July suggested policymakers may be less aggressive than previously thought when they raise interest rates in September.

Rupee rises 29 paise to 79.45 against US dollar

The rupee gained 29 paise to settle at 79.45 against the US dollar on Wednesday as heavy buying in domestic equities and persistent foreign capital inflows strengthened investor sentiment.

Sensex, Nifty on Wednesday

The 30-share pack settled 417.92 points higher at 60,260.13. Its broader peer, Nifty50, advanced 119 points and managed to top the 17,900 mark. This was the seventh consecutive day of gains for the index.

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Sensex Today: STOCK MARKET HIGHLIGHTS: Nifty50 bulls look tired; stay cautious

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