Share Market Highlight- Nifty settles above 19800, Sensex 66500; Bank Nifty adds 278 points; Realty, Financial Services stocks surge

Share Market Highlight: Nifty settles above 19800, Sensex 66500; Bank Nifty adds 278 points; Realty, Financial Services stocks surge

Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended the week’s last trading session in the green with the help of Realty and Bank stocks. The NSE Nifty 50 gained 0.47% to settle at 19,819.95, while the BSE Sensex added 333.35 points to settle at 66,598.91. Bank Nifty added 0.62% to 45,156.40. The broader indices traded in green. Among the other sectors, the Nifty Realty index led the gains with a 2.12% surge, while Financial Services, Auto, and Bank stocks were other contributors to the gains, whereas FMCG, IT, Media, Metal, and Pharma stocks faced corrections. The relative volatility in the market was lower and the VIX closed down 0.85%.Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates

15:36 (IST) 8 Sep 2023 Markets at close

The NSE Nifty 50 gained 0.47% to settle at 19,819.95, while the BSE Sensex added 333.35 points to settle at 66,598.91.

15:12 (IST) 8 Sep 2023 Crude Oil holds weekly gains

“Investors seen booking profit of the recent rally in crude oil, but oil prices are still holding weekly gains of 1.5% as WTI October trades at $86.55 down 0.3% on Friday as concerns over the health of China’s economic health resurfaced after trade data showed disappointing number for August and the optimism regarding last week’s stimulus seems to be fading away. We expect crude oil prices to test the support of $85 today, as surging USD is keeping upside check for most of the commodities, along with fading optimism over Chinese stimulus measures,” said Mohammed Imran, Research Analyst at Sharekhan by BNP Paribas.

14:27 (IST) 8 Sep 2023 Bank Nifty zooms

Bank Nifty surged 1.09% to 45,367.10 during Friday's trading session. Bandhan Bank, Bank of Baroda, and The Federal Bank led the gains with 2.18%, 1.81%, 1.55% respectively.

13:04 (IST) 8 Sep 2023 NTPC, Coal India lead

NTPC, Coal India, and Larsen & Toubro led the gains on the NSE Nifty 50 by adding 2.97%, 2.65%, and 2.35%, respectively, during Friday's trading session.

11:54 (IST) 8 Sep 2023 Nifty Realty Index zooms

The Nifty Realty Index added 1.70% during Friday's trading session. The gains were led by Sobha, which saw a whopping 8% surge. Macrotech Developers and Prestige Estates also added 3.83% and 2.78%, respectively.

11:11 (IST) 8 Sep 2023 Gold outlook

“We believe the gold price will trade in a broader range amid mixed sentiment. From a technical perspective, Comex gold has strong support at $1915. Until the price holds this level, a recovery in gold's price is likely to see it move towards the $1929 level. A fall below $1915 will open the door towards the $1905 level. The MCX Gold October future is expected to trade in a range of 58,850 – 59,300,” said Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities.

10:30 (IST) 8 Sep 2023 Crude Oil to remain volatile

“Global benchmark Brent crude oil fell below $90 a barrel on Thursday in volatile trades, halting a near two-week rally on multiple signals warning of a weaker demand in the coming months. The dollar gained, pushing the yen to a 10-month low and driving the euro and sterling to their weakest levels in three months, which also was one of the factors that snapped the recent uptick in crude oil. We expect crude oil prices to remain volatile this week amid volatility in the dollar index. Crude oil has support at $85.00–84.40 and resistance is at $86.60–87.20 in today’s session. In INR Crude oil has support at Rs 7,140-7,070, while resistance is at Rs 7,310 – 7,400, ” said Rahul Kalantri, VP Commodities, Mehta Equities.

09:47 (IST) 8 Sep 2023 Nifty outlook

“Range expansion is underway. What started with a modest upside objective of 19790 early in the week, is poised to extend to a much larger move, initially aiming 19,900. However, early inability to push above 19,750 might signal indecisiveness, but weakness may not set in if dips thereof manage to float above 19,700. Even in the event of its break, a collapse may not be the first outcome, but downside markers are recommended to be placed either at 19,640 or 19,600,” said Anand James, Chief Market Strategist at Geojit Financial Services.

09:26 (IST) 8 Sep 2023 Markets at open

The NSE Nifty 50 opened 0.24% higher at 19,774.80, while the BSE Sensex at 66,375.96 was up by 110.40 points.

08:52 (IST) 8 Sep 2023 Markets may extend gains

“Markets may extend gains in early Friday trades amid optimism in the Gift Nifty index even as US markets ended mixed in overnight trades while most of the Asian peers continue to linger in negative territories. However, caution may prevail after a 5-session rally in local markets, while investors may feel jittery on renewed concern over negative catalysts like inflation fears, rising US Dollar, strength in oil prices, and spiking US treasury yields. Also, renewed FII selling in local markets could also weigh on the sentiment, after having sold local shares worth Rs 9,097 crore in the last 5 sessions. Technically, Nifty has support at 19,589 for today's trade,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.

08:37 (IST) 8 Sep 2023 FII, DII Data

Foreign institutional investors (FII) offloaded shares worth net Rs 758.55 crore, while domestic institutional investors (DII) purchased shares worth net Rs 28.11 crore on September 7, 2023, according to the provisional data available on the NSE.

08:32 (IST) 8 Sep 2023 Nifty Technical outlook

“Nifty has finally crossed the hurdle at 19,650 and the alignment of the banking pack has further strengthened the tone. We expect the index to inch towards the new milestone of 20,000 now. Traders should align their positions accordingly and maintain a balanced approach as broader indices look stretched,” said Ajit Mishra, SVP – Technical Research, Religare Broking.