Share Market Highlights- Nifty settles below 19700, Sensex below 66050; Pharma, Metal stocks tank, while PSU Bank, Auto stocks shine

Share Market Highlights: Nifty settles below 19700, Sensex below 66050; Pharma, Metal stocks tank, while PSU Bank, Auto stocks shine

Share Market News Today | Sensex, Nifty, Share Prices Highlights:  The Benchmark equity indices ended the week’s last trading session in the red. The NSE Nifty 50 fell 0.34% to settle at 19,674.25, while the BSE Sensex shed over 220 points to 66,009.15.

The broader indices ended largely in red. The Bank Nifty index fell 11.80 points to 44,612.05. The sectoral indices also ended broadly in negative territory, except for PSU Bank and Auto. The PSU Bank index soared as much as 3.51% to 5,215.05. The losers on the NSE NIFTY 50 were Wipro, Dr Reddy’s Labs, UPL, Cipla and Bajaj Auto, while the gainers included IndusInd Bank, Maruti Suzuki India, SBI, Mahindra & Mahindra and Asian Paints.

Live Updates 15:39 (IST) 22 Sep 2023 Markets at close

The NSE Nifty 50 fell 0.34% to settle at 19,674.25, while the BSE Sensex shed over 220 points to 66,009.15.

14:10 (IST) 22 Sep 2023 Volume Gainers

Delphi World Money, Heads UP Ventures, Parsvnath Developers, PNB Gilts, Omaxe, Carborundum Universal and Nelcast are among the top volume gainers on the NSE. 

12:55 (IST) 22 Sep 2023 PSU Bank stocks surge

The Nifty PSU Bank index soared by nearly 4% during intra-day trading on Friday. Central Bank of India and Union Bank of India led the gains with their respective increases of 6.50% and 5.34%. Canara Bank, Indian Bank, Bank of Baroda, and Bank of Maharashtra were the other contributors to the gains.

11:38 (IST) 22 Sep 2023 Top gainer, losers

IndusInd Bank, SBI, Tech Mahindra, Tata Consumer Products, and Maruti Suzuki India are the top gainers on NSE, while the laggards include Dr Reddy's Labs, Wipro, Cipla, Power Grid Corporation and Sun Pharma.

11:21 (IST) 22 Sep 2023 Technical View

“The downswing that we have been playing since approaching 20,200 last Friday appears to have reached a point which could either see a reversal or a substantial rise in downside momentum. We are inclined to play the former, aiming 19,950 initially, but the inability to push beyond 19760 or an outright fall below 19,600-19, 550 region, could force us to pursue the latter, aiming 18,600. The odds of such a collapse are low, but it is a possibility, nevertheless,” said Anand James, Chief Market Strategist at Geojit Financial Services.

10:29 (IST) 22 Sep 2023 Pharma stocks tank

The Nifty Pharma index tanked nearly 2% during the intra-day trade on Friday. Glenmark Pharma and Cipla were the top losers, with respective losses of 6.22% and 2.39%.

09:32 (IST) 22 Sep 2023 Bank Nifty zooms

The Bank Nifty index added over 270 points to 44,897.60 during the early trade on Friday. The gains were led by the Bank of Baroda with 2.82% and the PNB with 2.40%.

09:28 (IST) 22 Sep 2023 Crude Oil

“The Russian government announced Thursday that they will temporarily ban exports of gasoline and diesel to all countries outside a circle of four ex-Soviet states with immediate effect to stabilize the domestic fuel market. So far this year, Russia was the world’s single biggest seaborne exporter of diesel-type fuel (and shipped more than 1 mbpd), narrowly ahead of the US, according to Vortexa. We expect prices to remain buoyed as fuel export cuts offer fresh boost to the prices,” said Ravindra Rao, CMT, EPAT, VP – Head Commodity Research, Kotak Securities.

09:21 (IST) 22 Sep 2023 Markets at open

The NSE Nifty 50 opened at 19,744.85 up by marginally 0.01%, while the BSE Sensex was at 66,215.04 down by 15 points.

09:09 (IST) 22 Sep 2023 Technical View

“Today's Indian market direction hinges on global factors. Unchanged policy rates from the US Federal Reserve and Bank of Japan, along with India's JP Morgan Bond Index inclusion, will significantly impact investor sentiment and trading trends. Technically Nifty support remains at 19,650 – 19,620 while resistance is placed at 19,850 – 19,880 zone. Sectorally PSU and FMCG could remain in radar for the day,” said Om Mehra, Equity Research Analyst, Choice Broking.

09:02 (IST) 22 Sep 2023 USD-INR Outlook

“As per the daily technical chart, the pair is trading at its moving average trend-line support level of 83.05 and RSI is fetching above 50 levels. Looking at the technical set-up, MACD is showing positive divergence but the pair is facing strong resistance at higher levels. The pair is having support at 82.92-82.70 while resistance is placed at 83.22-83.45. The pair is having crucial resistance at 83.22 and support at 82.85. We suggest buying in the pair on dips around 82.92-82.85 zone with a stop loss of 82.65 on a closing basis for the target of 83.22-83.35,” said Rahul Kalantri, VP Commodities, Mehta Equities.

08:57 (IST) 22 Sep 2023 Bank Nifty Outlook

“Bank Nifty fell below both the 20EMA and 50EMA on the daily timeframe. The RSI is signaling bearishness with a bearish crossover on the daily timeframe. In the short term, it could potentially move towards 44,000 on the lower end, while encountering resistance at 45,000 on the higher end,” said Rupak De, Senior Technical analyst at LKP Securities.

08:39 (IST) 22 Sep 2023 F&O Ban

The NSE has added Balrampur Chini Mills, BHEL, Delta Corp, Hindustan Copper, Indiabulls Housing Finance, Manappuram Finance, Punjab National Bank and Zee Entertainment Enterprises to its F&O ban list for September 22, 2023.

08:16 (IST) 22 Sep 2023 FII, DII Data

Foreign institutional investors (FII) offloaded shares worth net Rs 3,007.36 crore, while domestic institutional investors (DII) added shares worth net Rs 1,158.14 crore on September 21, 2023, according to the provisional data available on the NSE.

08:07 (IST) 22 Sep 2023 Wall Street

Wall Street closed in negative territory on Thursday, September 21, 2023. The market tanked in a broad sell-off as investor risk appetite was dashed by worries that the Federal Reserve’s restrictive monetary policy would remain in place for longer than anticipated, according to Reuters.

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