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Aug 18, 2021 4:42 PM

Ajit Mishra, VP - Research, Religare Broking

Markets traded highly volatile on account of weekly F&O expiry session and ended in the red. We remain cautious on the markets as there is no clear direction over the next move. High volatility and profit-taking in broader markets are adding to the participants’ worries. We suggest investors remain selective and prefer investing in defensive sectors such as FMCG, IT and Pharma.

Aug 18, 2021 4:40 PM

S Hariharan, Head - Sales Trading, Emkay Global Financial Services

Though gross market volumes have been relatively weak compared to the trend in July, large-caps have seen stronger flows than mid-caps. In fact, aggregate advance-decline ratio on NSE has been adverse throughout the last week, with mid-cap & small-cap indices under-performing Nifty by 100 bps & 200 bps respectively over this period. This has also coincided with Retail net long open interest in single stock futures reducing by 30,000 lots (approx. Rs 2,400 crs worth), pointing to reducing leverage in long positioning.

Nifty has also out-performed Asian and EM peers over the last week, with a strong trend in passive foreign flows, as foreign funds have aimed to re-allocate weights from China towards India. Launches of new domestic MF schemes have brought in fresh inflows of approx. Rs 8,000 crore, with a dominant focus on consumer themes. Banks remain the predominant under-performing sector while IT sector has been an out-performer.

Aug 18, 2021 4:39 PM

Nagaraj Shetti, Technical Research Analyst, HDFC Securities

The market seems to have started tiring at the new highs of 16m700. But, there is no indication of any reversal pattern unfolding at the higher levels. Any decline from here down to the support of 16m400 (20 day EMA on a daily chart) could be a buy on dips opportunity in the near term. We expect an upside bounce from the lows in the coming sessions. The upside target for Nifty remains at 16m900 levels.

Aug 18, 2021 4:38 PM

Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities

The rupee/dollar spot closed 11 paise lower near 74.24 levels but very much within the two-month-old range of 74.00 and 74.80/75.00 levels. With a stronger US Dollar index being countered by falling oil prices and corporate $ inflows, USDINR may remain within the low volatile zone for some more time. Tonight, US FOMC minutes may be a market mover, which could likely push USDINR higher towards 74.40 levels, if they sound hawkish.

Aug 18, 2021 4:37 PM

Here are key stocks that moved the most on August 18

The Sensex fell 162.78 points, or 0.29 percent, to close at 55,629.49, while the Nifty ended at 16,568.85, down 45.75 points, or 0.28 percent.

Aug 18, 2021 4:34 PM

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty has formed a bearish “Dark cloud cover” on daily charts. Even though it made a new high in the morning, the fact that contrary to the regional markets it failed to sustain gains and ended in the negative raises some concerns. The broader market continues to show a negative advance-decline ratio for the fourth consecutive session. Nifty may find it difficult to breach today’s high of 16,702 for the next 1-2 sessions.

Aug 18, 2021 4:20 PM

Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities

The market had been rallying sharply over the past few sessions and hence investors booked some profit today, but not before key benchmark indices hit fresh record highs in early trade. After a long time on daily charts, Nifty has formed a bearish candle and intraday charts are also indicating a further weakness from current levels. In the near future, the benchmark index may consolidate between 16,420 to 16,700 levels. On the downside, 16,500-16,450 could be the key support levels. On the other hand, the 16,650-16,700 level would be the immediate hurdle for the Nifty and below the 16,450 level, the uptrend could be vulnerable.

Aug 18, 2021 4:12 PM

Rahul Sharma, Co-Founder, Equity99

Nifty will have immediate support at 16,500 levels followed by 16,450-16,375 levels and on the upside 16,700 will act as resistance. Nifty Bank which underperformed Nifty50 has immediate support at 35,300 & if it breaks this level then 35,000- 34,850 will be the next support level. On the upside 35,800 will be the hurdle above which 36,000-36,200 will act as a resistance level.

Aug 18, 2021 4:05 PM

Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market has witnessed some correction from the higher levels of 16,700. It is going to be crucial for the short-term market scenario to sustain above the 16,500 Nifty50 Index level. Early signs of reversal in the market with deviation occurring in Nifty50, Nifty mid-cap, and Nifty small-cap. Hence traders are advised to refrain from building a new buying position until we see further improvement in the market breadth.

Aug 18, 2021 4:03 PM

Market At Close | Eicher, UltraTech, Bajaj Fin, Adani Ports & Grasim are top Nifty gainers.

Aug 18, 2021 4:02 PM

Market At Close | Financials drag market with Nifty Bank falling over 300 Pts; ICICI, Kotak Top Losers

Aug 18, 2021 4:01 PM

Market At Close | Weekly expiry keeps market under pressure; Sensex & Nifty snap 7-day gaining streak.

Aug 18, 2021 3:52 PM

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

- Weekly Expiry Keeps Mkt Under Pressure; Sensex & Nifty Snap 7-day Gaining Streak

- Financials Drag Market With Nifty Bank Falling Over 300 Pts; ICICI, Kotak Top Losers

- HDFC Bk Fails To Hold Gains Despite RBI Partially Lifting Tech Ban, Closes 3.6% Off Highs

- Sensex Slips 163 Points To 55,629 & Nifty 46 Points To 16,569

- Nifty Bank Falls 313 Points To 35,554 While Midcap Index Rises 79 Pts To 27,677

- Unlock Stocks Like USL, United Breweries, Jubilant Food Record Healthy Gains

- IDFC First Bank, Indus Twrs, Grasim Gain As Voda Idea Moves 10% Higher

- Eicher, UltraTech, Bajaj Fin, Adani Ports & Grasim Are Top Nifty Gainers

- Bajaj Fin, Bajaj Finserv, Nestle, Tata Cons, Titan & TCS Record All-time Highs

- Apollo Hospital See Profit Booking After A Huge Rally Seen Post Earnings

- Vedanta Continues The Downmove After HZL Defers Board Meet For Interim Dividend

- Market Breadth Favours Declines; Advance-Decline Ratio At 1:2

Aug 18, 2021 3:38 PM

Closing Bell | The Indian equity benchmark indices ended lower Wednesday dragged by selling in metals and private banking stocks. The Sensex fell 162.78 points, or 0.29 percent, to close at 55,629.49, while the Nifty ended at 16,568.85, down 45.75 points, or 0.28 percent. Broader markets closed mixed as the midcap index gained, while the smallcap index ended in the red.

Among sectors, Nifty Metal, Nifty Private Bank and Nifty Realty fell the most followed by financial services, auto and media indices, while pharma, FMCG, PSU Bank and IT indices ended in the green. Kotak Mahindra Bank, Hindalco Industries, ICICI Bank, SBI Life Insurance and Tata Motors were the top Nifty50 losers, while Eicher Motors, UltraTech Cement, Bajaj Finance, Adani Ports & SEZ and Grasim Industries were the top index gainers. Read here.

Aug 18, 2021 3:37 PM

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