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Sept 24, 2021 4:46 PM

Market This Week | Market Gains For 5th Straight Week, Sensex & Nifty Up Nearly 2% Each

Sept 24, 2021 4:45 PM

Ajit Mishra, VP - Research, Religare Broking

Markets ended marginally higher in a range-bound session, in continuation to the prevailing uptrend. Markets will continue to take cues from global peers in absence of any major event. We expect the positive trend to continue with intermediate pause and expect Nifty to inch towards 18,100. On the downside, 17,820-17,700 would act as a cushion. We reiterate our view to maintain focus on the selection of stocks and continuing with the “buy on dips” approach.

Sept 24, 2021 4:43 PM

Rupee At Close | The Indian rupee slipped 4 paise to close at 73.68 against the US dollar, following weaker Asian peers against the American currency. The local currency opened at 73.77 against the previous close of 73.64 and touched an intra-day high of 73.61 and a low of 73.78.

Sept 24, 2021 4:39 PM

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd

Trading was mostly range-bound with a positive bias. Nifty has formed a robust higher high and higher low formation which is broadly positive. The important point is the index successfully cleared the resistance of 17,800 and is comfortably trading above the same. For the Nifty, 17,775-17,700 could be the important support levels. On the flip side, 18,000 and 18,200 could act as a major resistance level. Contra traders can take a long bet near 17,700 with a strict 16,650 support stop loss, while partial profit booking is advisable between 18,100 to 18,200 level.

Meanwhile, Bank Nifty has maintained a higher bottom formation. The key support levels are placed at 37,200 followed by 36,800. The structure suggests a further upside if it succeeds to trade above 37,200.

Sept 24, 2021 4:26 PM

Manish Shah, Founder, Niftytriggers.com

Nifty closed the week with a sharp rally. The week witnessed Nifty gaining momentum after a gap down open. The ADX on the weekly time frame shows a rising trajectory, and it is above 30. Nifty on the weekly time frame is in a strong trend. Short-term declines in this condition should be buying opportunities. On the daily time frame, there was a pause in the ongoing rally. This is a normal market movement and this should not be construed as a bearish activity. The candle for the day was a star and this is a pause in the trend. Nifty has gap support at 17650-17640 this is the most logical zone for Nifty. In case Nifty trades below the gap we should see more drops towards 17450. Nifty is in a strong trend as the directional movement index high ADX reading. We are in a condition where the market is in a strong trend on the weekly and daily. The underlying current is strong. Nifty should see a steady up move towards 18000-18150. Going into the last week of September 201 expect the market to close on a high note. The trend remains at its vibrant best and it is much better to be on the long side.

Sept 24, 2021 4:24 PM

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty closed higher for the fifth consecutive week, closing 1.52 percent higher for the week. For the week, Realty, Media and IT indices rose the most, while PSU Banks, Metals and Pharma indices fell the most. Advance decline ratio for Sept 24 however fell deeply into the negative, suggesting nervousness among the market participants about the broader market. Nifty is now close to 18,000 and once that round number is achieved we could see a broad based correction in the markets. 17,645-17,792 band is the support for the Nifty.

Sept 24, 2021 4:23 PM

Joseph Thomas, Head of Research, Emkay Wealth Management

With the Sensex crossing the crucial 60,000 mark, the frontline indexes closed higher for the week, supported by better clarity on the Fed tapering of the bond buying program after the FOMC statement which said that the tapering may happen soon, and the broad indications that the rate action may be much later next year. While banking and IT zoomed during the week, most of the sectoral indexes closed in the red today including Healthcare, Metals, FMCG and Consumer Durables. Ahead of the weekend, with the depth of the damage which may be caused by Evergrande still not clear and some economic numbers from the US likely to be released, the markets may witness some amount of volatility during the course of the next week, and also some profit booking.

Sept 24, 2021 4:22 PM

Market At Close | In Financials, HDFC Bank & ICICI Bank Gain While SBI & Axis Bank Slip

Sept 24, 2021 4:00 PM

Market At Close | Midcap Underperformance Keeps Mkt Breadth In Favour Of Declines

Sept 24, 2021 3:59 PM

Market At Close | Sensex & Nifty Post Record Close, But Off Intra-day Highs; Sensex Closes Above 60,000 For The 1st Time

Sept 24, 2021 3:58 PM

Market strength remains intact, festive demand, vaccination ramp-up in focus, says Binod Modi of Reliance Securities

"While concerns over global growth due to recent rise in delta variant Coronavirus cases in different parts of the world continue to persist, we believe that underlying strength of domestic market remains intact. In our view, festive demand, recovery in rural demand, COVID-19 positivity rates and vaccination ramp-up will be in focus in the near term.

We further believe that higher government’s capex and revival in industrials’ capex should aid economic recovery. However, liquidity driven market may take a backseat in 2022 and investors must start focusing on quality aspect of companies, in our view,” said Binod Modi, Head Strategy at Reliance Securities

Sept 24, 2021 3:47 PM

Market This Week

-Market Gains For 5th Straight Week, Sensex & Nifty Up Nearly 2% Each

-Nifty Bank Closes Flat While Midcap Index Gains Nearly 1% This Week

-30 Nifty Stocks Gain While 20 Slip This Week

-Bajaj Finserv, HCL Tech, ONGC, Coal India & Bajaj Fin Top Nifty Gainers

-Tata Steel, BPCL, Tata Cons, Shree Cem, JSPL Top Nifty Losers

-Godrej Props, Zee, DLF, Indian Hotels, Indus Towers Top Midcap Gainers

-PI Ind, JSPL, Guj Gas, HAL, SAIL, Nalco Top Midcap Losers

-Realty, Media & IT Gain The Most Amongst Sectoral Indices

Sept 24, 2021 3:40 PM

Market At Close | Here are the highlights of today's trading session

-Sensex & Nifty Post Record Close, But Off Intra-day Highs

-Sensex Closes Above 60,000 For The 1st Time

-Market Sees Profit Booking At Record Highs Hit In Opening Hour

-Sensex Hit Intra-day Record High Of 60,333 & Nifty 17,948

-Nifty Rises 30 Points To 17,853 & Sensex 163 Points to 60,048

-Nifty Bank Gains 59 Points To 37,830 While Midcap Index Slips 237 Pts To 30,144

-Midcap Underperformance Keeps Mkt Breadth In Favour Of Declines

-Metals Under Pressure On Evergrande Concerns, Tata Steel, JSW Top Losers

-Paint Stocks Top Gainers In Friday’s Session, Asian paints Up 4%, Berger Up Over 2%

-In Financials, HDFC Bank & ICICI Bank Gain While SBI & Axis Bank Slip

-Reliance Fails To Hold Record High Of 2,505, Closes With A Minor Cut

-Bharti Airtel Rises Ahead Of Rights Issue Record Date, Stock Up Nearly 2%

-Indus Towers ToP Midcap Gainer Following Upgrades By Brokerages

-Voda Idea, Tata Chem, L&T Info, AB Fashion, Berger Paints TOP Midcap Gainers

-DLF Continues The Gaining Momentum, Stock Up 2% Today & 23% This Week

-Hospital Stocks Slip As Enters Diagnostic Biz, Apollo Slips 7%, Dr Lal 4%

Sept 24, 2021 3:40 PM

Closing Bell | The Indian equity indices ended higher Friday with the benchmark Sensex closing above 60,000-mark for the first time. The Sensex gained 163.11 points, or 0.27 percent, to close at 60,048.47, while the Nifty ended 30.25 points, or 0.17 percent, higher at 17,853.20. Broader markets, smallcap and midcap indices are trading mixed.

Buying was seen in IT, realty, auto and private banking space, while metals, PSU Bank, pharma and energy shares ended in the red. Asian Paints, Eicher Motors, M&M, HCL Technologies and Bharti Airtel were the top Nifty50 gainers, while Tata Steel, JSW Steel, SBI, Divi’s Laboratories and Shree Cement were the top losers. Read here

Sept 24, 2021 3:36 PM

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