Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices closed in the red on Friday. NSE Nifty 50 settled lower by almost 115 points at 19,428.3 while Sensex gave up 0.56% to 65,322.65. Bank Nifty ended under the 41,200 mark. The broader markets also ended in the red, with Nifty 100, Nifty 200 and Nifty 500 ended lower by 0.5%. Nifty Smallcap fared better, ending lower by 0.18%. Nifty Auto, Nifty FMCG, Nifty Healthcare Index, Nifty Pharma were among the top sectoral losers.
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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates on Friday 11 August
15:49 (IST) 11 Aug 2023 Markets at close
“The Nifty opened on a flat note and has drifted lower throughout the day to close around the lows for the day down ~100 points. On the daily charts, we can observe that the Nifty has witnessed follow-through selling pressure and broken down from the inside bar pattern formed in the previous trading session on the downside,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
15:49 (IST) 11 Aug 2023 Top gainers, losers
IndusInd Bank, SBI Life, UPL, Tata Consumer, and Asian Paints were among the top losers on the NSE Nifty 50 index. HCL Tech, Power Grid, Titan, Tata Steel and UltraTech Cement were the top gainers.
15:47 (IST) 11 Aug 2023 Markets at close
Domestic stock indices ended negatively on Friday. The NSE Nifty 50 declined by nearly 115 points to close at 19,428.3, and the Sensex dropped 0.56% to finish at 65,322.65.
15:17 (IST) 11 Aug 2023 INR movement
“USDINR CMP- 82.82 (spot) Indian Rupee depreciated on a positive US Dollar and weak domestic markets. However, FII inflows and overnight decline in crude oil prices cushioned the downside. US Dollar gained on elevated US inflation data which raised expectations of one more rate hike by the US Federal Reserve in 2023. However, weekly unemployment claims and budget deficit trailed the forecast.”
– Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas
14:55 (IST) 11 Aug 2023 Weekly market outlook
“Indian markets held steady despite global ripples, with Nifty and Sensex down 0.5%. Sectors shifted, IT and Healthcare gained (2.7% and 1.3%), while Consumer Durable, Capital Goods, FMCG, Metals, Oil and Gas, and Realty dipped. RBI’s cautious stance and global inflation trends shaped the landscape. Internationally, U.S. inflation eased and the UK beat growth expectations. Singapore adjusted forecasts amidst global economic fragility.”
– Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
14:09 (IST) 11 Aug 2023 Gold outlook
“The 0.2% increase in the US consumer price index (CPI) for the month, along with a 3.2% year-on-year CPI rise, suggests a more favorable environment for the gold market.”
– Prathamesh Mallya, DVP Research, Non-Agro Commodities & Currency, Angel One
12:58 (IST) 11 Aug 2023 Hold Grasim
“We believe Grasim is a value play given: i) Global VSF cycle is at a near-bottom. ii) Holdco discount at CMP is 44% (versus 35–40% historically). iii) Net debt/EBITDA is likely to be <2x despite huge capex iv) Potential long-term value for paint segment. Retain ‘HOLD’ with a revised TP of INR1,881 (earlier INR1,767) as we roll forward our valuation to Q1FY26E."
– Nuvama
11:56 (IST) 11 Aug 2023 IIP prediction
“Anticipating a 5% surge in the Index of Industrial Production (IIP), we expect manufacturing to show signs of moderate growth. This should reflect in the 1QFY24 GDP growth at around 7.5% with the industrial sector growth continue at a decent pace.”
– Suvodeep Rakshit, Senior Economist, Kotak Institutional Equities
11:47 (IST) 11 Aug 2023 LIC shares gain 6% on Q1
As LIC reported an almost 14-fold rise in net profit on-year, shares of the largest insurer jumped 5.8% to an intraday high of Rs 679 apiece.
11:18 (IST) 11 Aug 2023 Banking stocks under pressure after ICCR raised
“RBI’s decision to raise the CRR on bank’s incremental NDTL between May 19th and July 28th 2023 to 10% is negative for banks. This will raise their cost of funds impacting their profitability. However, since banks are experiencing good credit growth and their NPAs are declining, they can easily absorb this marginal additional cost.”
– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
10:57 (IST) 11 Aug 2023 Derivative outlook
Nifty weekly contract has highest open interest at 19550 for Calls and 19500 for Puts while monthly contracts have highest open interest at 19600 for Calls and 19500 for Puts. Highest new OI addition was seen at 19550 for Calls and 19500 for Puts in weekly and at 19600 for Calls and 18500 for Puts in monthly contracts.
09:37 (IST) 11 Aug 2023 Nifty, Sensex open in red
The NSE Nifty 50 dipped 41.60 points or 0.21% to 19,501.50 and BSE Sensex tumbled 161.87 points or 0.25% to 65,526.31.
09:14 (IST) 11 Aug 2023 Nifty, Sensex end pre-open flat
Domestic indices ended the pre-opening session flat. The NSE Nifty 50 rose 11.15 points or 0.06% to 19,554.25 and BSE Sensex gained 39.62 points or 0.06% to 65,727.80.
09:05 (IST) 11 Aug 2023 Bank Nifty needs to overcome 45150 for bulls to regain control
“After the RBI policy, the Bank Nifty index encountered significant selling pressure, leading to a challenging situation. A substantial resistance is evident at the 45000 mark. Breaking through this resistance level could be demanding due to the prevailing selling pressure. Support can be identified around the 44400 level. A drop below this support could further empower the bears and potentially lead to additional downward movement. To regain control, bullish momentum would need to overcome the hurdle at 45150. Surpassing this level could provide the bulls with an upper hand and potentially steer the index towards a more positive trajectory,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
Share Market Outlook Today
09:04 (IST) 11 Aug 2023 Bank Nifty short-term target at 44000
“Bank Nifty witnessed selling pressure from the key hourly moving averages placed in the range of 45000 – 45100. The daily and hourly momentum indicator has a negative crossover which is a sell signal. The Bank Nifty has decisively closed below the 40-day moving average which is a sign of weakness. Thus both price and momentum indicators are suggesting a further downside over the next few trading sessions. On the downside 44000 is the short-term target,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Share Market Outlook Today
09:04 (IST) 11 Aug 2023 Expect pressure to persist until Nifty trades below 19630-19670
“On the daily charts, we can observe that the Nifty has faced resistance at the falling trend line, and the 20-day moving average is placed in the zone 19630 – 19670. The Nifty was unable to witness follow-through buying and traded with the range 19645 – 19467 of the previous trading session. Until the Nifty trades below the zone 19630 – 19670, we can expect the pressure to persist. The momentum set up on the daily and hourly time frame charts are providing divergent signals which can lead to a consolidation in the short term. Overall, the trend is still negative, and we expect the nifty to target levels of 19100 from a short-term perspective,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Share Market Outlook Today
09:03 (IST) 11 Aug 2023 Nifty support at 19500-19440-19380
“Nifty continues to hover near the 20-day SMA with no significant change in the chart structure, portraying a lack of conviction by both counterparties. Structurally the setup remains unchanged, suggesting further consolidation in the index and continuing the time-wise corrective phase. On the levels front, the bearish gap of 19678-19705 withholds the sturdy hurdle and on the lower end, 19500-19440-19380 holds the pivotal support for Nifty in the comparable period,” said Osho Krishan, Sr. Analyst, Technical & Derivative Research, Angel One Ltd.
Share Market Outlook Today
08:15 (IST) 11 Aug 2023 US indices end in green
The US market ended the overnight session in green – Dow Jones Industrial Average (DJIA) plunged rose 0.15%, S&P 500 gained 0.03% and the tech-heavy Nasdaq was up 0.12%.
08:14 (IST) 11 Aug 2023 Asian markets trade mostly in red
Asian markets were trading mostly in red – China’s Shanghai Composite Index tumbled 0.52%, Asia Dow fell 0.20%, Hong Kong’s Hang Seng plunged 0.45% and Japan’s Nikkei 225 surged 0.84% and South Korea’s KOSPI rose 0.06%.
08:14 (IST) 11 Aug 2023 GIFT Nifty up 16 pts
The GIFT Nifty futures traded 16 points or 0.08% higher at 19,556 in early morning trade.
08:14 (IST) 11 Aug 2023 Nifty to regain momentum or fall under 19,500? See GIFT Nifty, FII data, F&O ban, crude before market opens
“Inflation concerns have resurfaced in the domestic market after the RBI elevated their CPI forecast by 30 basis points to 5.4%, thereby increasing the chances of a protracted rate cut trajectory. Furthermore, the RBI’s move to control liquidity through incremental CRR dented the sentiments of the banking sector, although the impact is projected to be limited. Against this backdrop, investors will be closely watching the US inflation print today and the domestic inflation data on Monday,” said Vinod Nair, Head of Research at Geojit Financial Services.
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08:13 (IST) 11 Aug 2023 Stocks To Watch: LIC, Hero MotoCorp, Grasim, Adani Enterprises, Torrent Pharma, ONGC, GCPL, Nykaa, Info Edge
The GIFT Nifty was flat during Friday’s early trading session, up by 0.09% at 19,557, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex. On Thursday, the equity benchmarks closed lower after the RBI policy announcement. Nifty 50 declined 0.46% to close at 19,543.1. On the other hand, Sensex slipped over 300 points to end at 65,688.18.
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