Stock Market LIVE- Nifty ends above 19500, Sensex snaps 3-day losing streak; SBI sinks 3% on Q1 earnings

Stock Market LIVE: Nifty ends above 19500, Sensex snaps 3-day losing streak; SBI sinks 3% on Q1 earningsGo to Live Updates

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic indices closed in the green on Friday, snapping a three-day losing streak. Nifty 50 closed above the 19,500 level at 19,517, up 135.35 points, while Sensex zoomed 480 points to 65,721.25. Bank Nifty added 0.82% to 44,879.50. Nifty Auto slipped 0.33% while Nifty IT, Nifty Consumer Durables and Nifty Pharma were the top sectoral winners in trade. In the broader markets, Nifty 100, Nifty 200 and Nifty 500 recorded a rise between 0.71% to 0.73%. Nifty Midcap 100 slipped 0.82% and Nifty Smallcap was down 0.76%. Fear gauge, India VIX, was down 5.47% at 10.57.Live Updates

Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates on 4 August

15:44 (IST) 4 Aug 2023 Currency outlook

“Indian rupee settled for its weakest weekly close of the current calendar year following haven dollar demand and higher crude oil prices. In the week gone, foreign institutions were net sellers of $273 million in domestic equities while the rupee fell nearly 0.7%. From the technical front, the trend for spot USDINR remains bullish with higher side resistance at 83.30 and support at 82.60.”

– Dilip Parmar, Research Analyst, HDFC Securities.  

15:40 (IST) 4 Aug 2023 Nifty top winners and losers

On NSE Nifty 50, Cipla, IndusInd Bank, Tech Mahindra, Wipro and Bharti Airtel were the top gainers while State Bank of India, Bajaj Auto, BPCL, Maruti Suzuki and NTPC were the top losers.

15:36 (IST) 4 Aug 2023 Markets at close

On Friday, the domestic indices wrapped up in positive territory, breaking a three-day stretch of losses. The Nifty 50 managed to secure a close above the 19,500 mark, finishing at 19,517 and marking a gain of 135.35 points. Meanwhile, the Sensex surged by 480 points, reaching 65,721.25. Additionally, the Bank Nifty saw an uptick of 0.82%, closing at 44,879.50.

14:55 (IST) 4 Aug 2023 Rupee outlook

“USDINR CMP- 82.8150 (spot) Indian Rupee depreciated on Friday on a surge in crude oil prices and selling pressure from foreign investors. However, positive domestic markets and a soft US Dollar cushioned the downside. US Dollar declined on Thursday from a four-month high on weaker-than-expected ISM services PMI and weekly unemployment claims data from the US while factory orders topped forecast.”

– Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas

13:32 (IST) 4 Aug 2023 M&M adds 2%

Mahindra & Mahindra stocks gain 2% after a volatile trading session as company posted a 97.6% on-year gain in profit at Rs 2,773.74 crore in Q1FY24.

13:30 (IST) 4 Aug 2023 SBI sinks 1%

SBI's share price slips over 1% to Rs 583.3 apiece after India's largest lender reports its Q1FY24 numbers.

12:45 (IST) 4 Aug 2023 Gold investment outlook

“Considering the current scenario, this can be an appropriate time for investors to invest in gold as the market seems to be in correction mode. The short to medium-term structure support gold prices. The yellow metal is likely to attain its previous high of $2100/oz globally, domestically it is likely to trade near the Rs 62,000/10gm level.”

– Colin Shah, MD, Kama Jewelry

12:05 (IST) 4 Aug 2023 Gold, silver slip

On the Multi Commodity Exchange, gold October futures were trading at Rs 59,392 per 10 grams, down by Rs 40 or 0.07%. Silver September futures were trading down by Rs 236 at Rs 72, 286 per kg on MCX.

10:50 (IST) 4 Aug 2023 Zomato shares up 14%

Zomato’s share price soared 13.7% to Rs 98.4 apiece today after the company reported a Rs 2 crore profit after tax for the first time ever.

10:37 (IST) 4 Aug 2023 Gold outlook

“We expect gold prices to consolidate in a lower range before the outcome of US Nonfarm payroll data, and post-data volatility is likely to expand. From a technical perspective, the short-term trend in gold remains moderately bearish until it trades below the $1970 level, and the downside will extend to the $1910 level once price breaks support at $1925. The MCX Gold October future has support at Rs 58,770 and resistance at Rs 59,810.”

– Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities.

10:01 (IST) 4 Aug 2023 Technical levels to watch

“The benchmark index is hovering near the sacrosanct support of the bullish gap at 19,201-19,235, which might act as a pitstop for the bears in the near term, before which 19,300 might provide some cushioning. While on the flip side, 19,500 is likely to be seen as an immediate hurdle (coincides with 20 DEMA), followed by the bearish gap around 19,680 in the comparable period.”

– Sameet Chavan, Head Research, Technical and Derivatives, Angel One

09:23 (IST) 4 Aug 2023 Derivative view

Nifty weekly contract has highest open interest at 19,400 for Calls and 19,300 for Puts while monthly contracts have highest open interest at 19,400 for Calls and 19,300 for Puts. Highest new OI addition was seen at 19,400 for Calls and 19,300 for Puts in weekly and at 19,400 for Calls and 19,300 for Puts in monthly contracts.

09:18 (IST) 4 Aug 2023 Markets at open

Domestic indices NSE Nifty 50 and BSE Sensex gained on open. Nifty gained 0.48% to trade near the 19,475 level, while Sensex reclaimed 65,500 at 65,519.62. Bank Nifty topped the 44,700 mark at 44,762.55, up over 200 points from the previous day's close.

09:12 (IST) 4 Aug 2023 Pre-open session

NSE Nifty 50 closed the pre-open session at 19,462.80, jumping 0.42% while BSE Sensex settled at 65,453.55, up 213 points.

08:54 (IST) 4 Aug 2023 Markets could see profit-taking

“Benchmark indices are likely to open higher, but may turn wobbly thereafter amid weakness in several Asian gauges following a marginal fall in the overnight US markets. There could be some bouts of profit-taking in local shares, but India's consistent performance on several economic parameters should fuel recovery going ahead.”

– Prashanth Tapse, Senior VP (Research), Mehta Equities.

08:20 (IST) 4 Aug 2023 Crude oil outlook

Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world's second and third-largest crude producers, pledged to cut output through next month.

08:03 (IST) 4 Aug 2023 F&O Ban today

The National Stock Exchange has Hindustan Copper, Gujarat Narmada Valley Fertilizers & Chemicals, and Piramal Enterprises securities on its F&O ban list for 4 August.

07:45 (IST) 4 Aug 2023 FII, DII data

FIIs sold shares worth net Rs 317.46 crore, while DIIs bought shares worth net Rs 1,729.19 crore on 3 August, according to the provisional data available on the NSE.

07:44 (IST) 4 Aug 2023 Currency outlook

US Dollar bulls take a breather on mixed statistics but Treasury bond yields refresh multi-day high and check Euro buyers. Brent Crude prices bounced while USDCNH pair cooled off a bit. For USDINR, 82.55 acts as a support while 82.85/90 is a resistance.

– Kunal Sodhani, VP, Global Trading Center, Shinhan Bank.

07:43 (IST) 4 Aug 2023 Asian shares

Shares in the Asia-Pacific region were trading in the green on Friday, snapping the global rout following the Fitch Ratings' downgrade. China’s Shanghai Composite and Shenzhen Component were up by 0.78% and 0.84% respectively. Japan’s Nikkei 225 was mildly in the green at 0.05%. South Korea’s Kospi declined 0.16% while Hong Kong's Hang Seng jumped 1.95%. The Taiwan Weighted index recorded a loss of 0.63%.

07:43 (IST) 4 Aug 2023 Wall Street overnight

U.S. stocks closed little changed on Thursday after a choppy trading session, as investors weighed another rise in Treasury yields with the latest batch of economic data and earnings, according to Reuters. S&P 500 declined 0.25%, the Nasdaq Composite crashed 0.1%, and the Dow Jones Industrial Average tumbled 0.19%.