Share Market Highlights- Nifty closes above 19610, Sensex above 65680; Tata Consumable Products, Divi’s Labs among top gainers

Share Market Highlights: Nifty closes above 19610, Sensex above 65680; Tata Consumable Products, Divi’s Labs among top gainers

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices continued their winning streak and ended the trading day in the green territory, paring the corrections accrued during the intraday. The NSE Nifty 50 gained 0.18% to settle at 19,611.05, while the BSE Sensex added 100.26 to 65,880.52. Nifty Next 50 and Nifty Midcap 50 led the gains among the broader indices. The volatility index (India VIX) tumbled by as much as 1.27%. Nifty Bank shed as much as 123.05 points to 44,409.10. FMCG and Pharma were the top gainers among the sectoral indices with gains of 1% and 0.90% respectively, while the Nifty Realty, PSU Bank, and Metal sectors faced sharp corrections.Live Updates

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

15:36 (IST) 6 Sep 2023 Markets at close

The NSE Nifty 50 gained 0.18% to settle at 19,611.05, while the BSE Sensex added 100.26 to 65,880.52.

14:25 (IST) 6 Sep 2023 Hindalco Industries, Tata Steel loses over 2%

Hindalco Industries and Tata Steel were the top laggards on the NSE Nifty 50, losing 2.14% and 2.13%, respectively, during the intraday trading session.

12:41 (IST) 6 Sep 2023 Nifty Metal loses over 1%

The Nifty Metal Index shed 1.12%, the highest among the sectoral indices. Hindustan Copper, SAIL, and Tata Steel were the top losers, losing over 2%.

11:59 (IST) 6 Sep 2023 Asian stocks extend fall

Asia stocks fell on Wednesday after faltering growth in China and Europe heightened concerns about global economic momentum, while the dollar firmed as investors weighed the outlook for Federal Reserve interest rates. MSCI's gauge of Asia Pacific stocks outside Japan dipped 0.45%. The Hang Seng Index lost 0.56% and China's benchmark CSI300 Index fell 0.59%, ahead of China's August trade data set to be released on Thursday, with analysts expecting exports and imports to continue their declines, but at a slower pace.

11:44 (IST) 6 Sep 2023 FPI buying slows down

Foreign portfolio investor (FPIs) inflows in Indian equities were at a four-month low of 122.62 billion rupees ($1.48 billion) in August, even as purchases rose in the second half of the month.

11:23 (IST) 6 Sep 2023 Sugar stocks sweeten

On Wednesday, sugar stocks saw an increase of up to 8%, primarily fueled by apprehensions regarding production due to the lackluster monsoon conditions in key cultivation regions.

The leading performer among them was Rana Sugar, commencing the day with a 5% surge in its stock price. It was closely followed by Shree Renuka Sugars, The Ugar Sugar, Dwarikesh Sugar, Eid Parry, Triveni Engineering & Industries, and Balrampur Chini Mills, all of which displayed gains ranging from 8% to 1.4% at the market's opening.

10:47 (IST) 6 Sep 2023 Crude oil surges

“WTI Crude oil futures surged to the highest levels since November 2022, after OPEC+ leaders announced that they would extend supply curbs through the end of the year, tightening the global market. We expect prices to stay buoyed on supply woes in the near term, before starting to decline on demand concerns.”

– Ravindra Rao, CMT, EPAT, VP – Head Commodity Research, Kotak Securities

10:46 (IST) 6 Sep 2023 Mid-, small-caps still appealing

“We believe that the valuation of Mid & Smallcaps remains appealing when compared to the trends of the past seven years. Specifically, Smallcaps appear to be even more attractive than Midcaps in the current scenario. However, considering the overall market consolidation, it's not an ideal environment for investing in high-risk categories, leading to mixed opinions.”

– Vinod Nair, Head of Research at Geojit Financial Services.

09:21 (IST) 6 Sep 2023 Gold outlook

“In INR terms gold has support at Rs59,020, 58,840. while resistance is at Rs59,450, 59,610. Silver has support at Rs72,710-72,250, while resistance is at Rs73,940–74,450.”

– Rahul Kalantri, VP Commodities, Mehta Equities

09:18 (IST) 6 Sep 2023 Markets at open

Indian benchmarks BSE Sensex and NSE Nifty 50 opened flat on Wednesday. Nifty 50 opened around 19,580 levels, mildly higher while Sensex was down by 0.01% at 65,744.19.

09:15 (IST) 6 Sep 2023 Levels to watch

Nifty is currently hovering near a critical breakout level at 19,640. If the index manages to close above this level, it is likely to gain substantial momentum. In such a scenario, the next targets for Nifty could be at 19,700 and 19,800.

08:56 (IST) 6 Sep 2023 DII buying strengthening markets

On the positive side, the sustained DII buying is imparting strength to the market. DIIs have bought stocks worth Rs 5934 crores in the cash market during the last three trading days of September. Retail also is buying, and this ‘buy on dips’ strategy has worked.

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

08:51 (IST) 6 Sep 2023 Markets may see shaky open

“Markets are likely to wobble in early Wednesday trades amid a mixed trend in Gift Nifty index after US markets faltered in overnight trades. A fresh spike in US 10-year and 2-year treasury yields could have a rub-off effect on global equities, including India, as FIIs in such circumstances flee emerging markets to park their funds in safe haven US securities.”

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

08:39 (IST) 6 Sep 2023 Bank Nifty outlook

“Bank Nifty has witnessed a day of consolidation. It consolidated within a narrow 250 point range. Overall, we believe that this consolidation has come after a sharp run up which is likely to break out on the upside over the next few trading sessions. Momentum indicator has a positive crossover which is a buy signal. Thus, we can expect trending moves on the upside. On the upside we expect targets of 44900 – 45000 from short-term perspective,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

08:21 (IST) 6 Sep 2023 Crude oil

Oil prices ticked up in early Asian trade on Wednesday after rising over 1% in the previous session, as markets worried about a supply shortage after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year.

08:20 (IST) 6 Sep 2023 Asian markets in red

Asian-Pacific markets traded in the red on Wednesday. Chinese indices faced a slight downturn, with the Shanghai Composite experiencing a 0.6% decrease and the Shenzhen Component declining by 0.53%. Over in Japan, the Nikkei-225 saw a modest dip of 0.31%. Meanwhile, Hong Kong's Hang Seng index took a more substantial hit, dropping by 1.28%. South Korea's KOSPI also experienced a decrease, albeit a smaller one, down by 0.32%.

08:18 (IST) 6 Sep 2023 Wall Street overnight

Wall Street's three major averages closed lower on Tuesday with the Dow leading declines as Treasury yields rose along with oil prices and investors assessed prospects for the Federal Reserve's interest rate path. The Dow Jones Industrial Average tanked 0.56%, the S&P 500 declined by 0.42% while the tech-heavy Nasdaq index fell 0.08% on Tuesday.

08:10 (IST) 6 Sep 2023 JFS to exit NSE indices

Since Jio Financial Services traded without breaching its lower price band for two consecutive sessions, following which, the demerged financial arm from Reliance Industries is set to be excluded from various NSE indices 7 September onwards.