Share Market Highlights- Nifty settles above 19700, Sensex adds 385 pts; Bank Nifty 469; Realty, PSU Bank stocks surge

Share Market Highlights: Nifty settles above 19700, Sensex adds 385 pts; Bank Nifty 469; Realty, PSU Bank stocks surge

Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Thursday’s trading session in the green with the help of PSU Bank and Realty stocks. The NSE Nifty 50 gained 0.59% to settle at 19,727.05, while the BSE Sensex added 385.04 points to settle at 66,265.56. Bank Nifty showed a trend reversal and climbed 1.06% to 44,878.35. The broader indices traded largely in the green. Among the sectoral indices, the gains were led by Realty, PSU Bank, and Media stocks while the FMCG, Pharma stocks saw some correction. The relative volatility in the market was higher and the VIX closed up 1.82%.Live Updates

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

15:36 (IST) 7 Sep 2023 Markets at close

The NSE Nifty 50 gained 0.59% to settle at 19,727.05, while the BSE Sensex added 385.04 points to close at 66,265.56.

15:06 (IST) 7 Sep 2023 Currency outlook

“USDINR CMP- 83.19 (spot) Indian Rupee depreciated on Thursday on strong US Dollar and extended rally in crude oil prices. FIIs remained as net sellers for the third consecutive day on Wednesday. We expect Rupee to trade with a negative bias on strong Dollar and elevated crude oil prices. Traders may take cues from ISM services PMI data from US. USDINR spot price is expected to trade in a range of Rs 82.80 to Rs 83.75,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.

14:38 (IST) 7 Sep 2023 Cochin Shipyard surges

The Stock price of Cochin Shipyard soared as much as 20% during intraday trade on Thursday to hit its all time fresh high of Rs 1,146.15.

14:13 (IST) 7 Sep 2023 Nifty Realty Index adds 1%

The Nifty Realty index surged 1.11% in trade on Thursday. Macrotech Developers and DLF led the gains with 2.22% and 1.26%, respectively.

13:27 (IST) 7 Sep 2023 Jupiter Life Line Hospitals IPO

Jupiter Life Line Hospitals' issue sailed through and was fully subscribed on the second day of the bidding process. The overall subscription clocked in at 1.72 times so far.

12:44 (IST) 7 Sep 2023 PVRINOX outperforms

After a robust July and a record August, September is beginning on a very positive note for PVR INOX due to Jawan (likely Rs 700mn India collections on day 1). August set new records led by ‘Gadar 2’ (ZEE is producer) and ‘Jailer’ (Sun TV is producer), which is in a sharp contrast to the discretionary slowdown impacting QSR/apparel.

– Nuvama

12:17 (IST) 7 Sep 2023 EMS IPO opens tomorrow

EMS is set to open its IPO tomorrow with a price range of Rs 200–211 per equity share. It will be closed to the public on September 12, 2023. The issue opens today for the anchor portion.

11:51 (IST) 7 Sep 2023 Nifty PSU Bank adds 1%

The PSU banking stocks index jumped over 1% in trade on Thursday. Punjab National Bank, Indian Overseas Bank and UCO Bank led the gains.

11:05 (IST) 7 Sep 2023 Silver could touch Rs 85,000

“The momentum in silver is likely to continue, and could add another 15% over the next few quarters. Traders shuold accumulate at lower levels with immediate supports at Rs 70,500, while strong medium-term support is at Rs 68,000. On higher side, prices could target Rs 82,000 followed by Rs 85,000 over the next 12 months.”

– MOFSL

10:58 (IST) 7 Sep 2023 FII, DII outlook

“The market has turned excessively volatile responding to fast changing incoming data. DIIs have been consistent buyers on the back of good flows to domestic mutual funds. But FIIs have been consistently selling in the cash market this month with a net sell figure of Rs 7850 crores. The FII selling has been triggered by the rising US bond yields and the strengthening dollar. With the yield from the US 10-year at 4.29% and 2-year at 5%, the FIIs are likely to sell further impacting market sentiments.”

– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

09:45 (IST) 7 Sep 2023 Benchmark indices trade in red

The NSE Nifty 50 was trading 48.75 points lower at 19,562.30, while the Sensex was 0.25% down at 65,714.51.

09:30 (IST) 7 Sep 2023 Markets at open

Indian benchmarks BSE Sensex and NSE Nifty 50 opened in red on Thursday. The Nifty 50 is trading 34.60 points lower at 19576.45, while the Sensex is 0.13% down at 65,791.21.

09:12 (IST) 7 Sep 2023 FII/DII Data

Foreign institutional investors (FII) offloaded shares worth net Rs 3245.86 crore, while domestic institutional investors (DII) sold shares worth net Rs 247.46 crore on  September 6, 2023, according to the provisional data available on the NSE.

09:00 (IST) 7 Sep 2023 Gold outlook

“Today, investors will look forward to manufacturing PMI (August final reading) out of Euro-zone and the UK. Today's US data include nonfarm payroll report (NFP – August), construction spending (July), and ISM manufacturing data, thus it is going to be a crucial day for commodities as nonfarm payroll report is very likely to be a key market moving report. Support for the yellow metal lies at $1930, followed by $1913. Resistance is at $1955, followed by $1965,” said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.

08:32 (IST) 7 Sep 2023 Bank Nifty outlook

“The prevailing sentiment leans towards a negative-to-sideways bias, with the index closing below a crucial moving average. The RSI is on the verge of forming a bearish crossover, indicating potential weakness. In the short term, the index is expected to decline towards 44,000, with resistance at 44,600. Sustained trading above this level could propel the index towards 45,000 and beyond. Selling on rallies seems to be the favored strategy for traders in the Bank Nifty, unless the index provides a clear and decisive breakout above the 45,000 level,” said Rupak De, Senior Technical analyst at LKP Securities.

08:24 (IST) 7 Sep 2023 Wall Street overnight

Wall Street’s three major averages closed lower on Wednesday. The Dow Jones Industrial Average experienced a 0.57% drop, the S&P 500 saw a 0.70% decrease, and the Nasdaq index tumbled 1.06%.