Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices crashed over 1% on Wednesday amid negative global cues. The NSE Nifty 50 sank 207 points or 1.05% to settle at 19,526.55 and BSE Sensex tanked 676.53 points or 1.02% to 65,782.78. In sectoral indices, Bank Nifty tumbled 596.80 points or 1.31% to 44,995.70, Nifty Auto plunged 1.66%, Nifty PSU Bank sank 2.61% and Nifty IT fell 0.81%. The top gainers on Nifty 50 were Divis Laboratories, Nestle India, Hindustan Unilever, Asian Paints and Tech Mahindra while the losers were Hero Motocorp, Tata Steel, Tata Motors, Bajaj Finserv and NTPC.
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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Highlights
15:35 (IST) 2 Aug 2023 Nifty, Sensex end in red
The NSE Nifty 50 tanked 207 points or 1.05% to 19,526.55 and BSE Sensex plunged 676.53 points or 1.02% to 65,782.78.
12:53 (IST) 2 Aug 2023 PVR Inox stock jumps 3% today after revenue grows 32% on-year
PVR Inox share price jumped 3% to Rs 1,614.10 today even after the company swung into a net loss in Q1FY24, as its revenue jumped 32% on-year to Rs 1,304.90 crore. Analysts at Prabhudas Lilladher and Emkay have maintained a ‘Buy’ rating on the stock and have raised their target prices. PVR Inox shares have risen over 16% in the last one month and have fallen nearly 27% in the past one year.
Should you buy, sell or hold PVR Inox shares?
12:25 (IST) 2 Aug 2023 Nifty, Sensex tank, Asian markets crash after Fitch cuts US credit rating from AAA to AA+
Indian equities tanked almost 1%, while Asia-Pacific stocks faced a bloodbath, as global markets reeled from the impact of Fitch Ratings cutting the United States’ credit rating from the top-rated AAA to AA+. NSE Nifty 50 and Sensex traded 0.6% lower, while major Asian indices such as South Korea’s KOSPI, Japan’s Nikkei 225 and Hong Kong’s Hang Seng crashed over 1.5% each. The sovereign rating was stripped from the US on account of its increasing deficits and slow disintegration of governance, which impeded the government’s abilities to repay its dues.
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12:23 (IST) 2 Aug 2023 Sensex crashes 640 pts to 65,810; check top losers & gainers
BSE Sensex crashed 648.98 points or 0.98% to 65,810.33. NTPC, Tata Steel, Tata Motors, Bajaj Finserv, SBIN and JSW Steel were the top losers while Nestle India, Hindustan Unilever and Asian Paints were the only gainers.
12:20 (IST) 2 Aug 2023 Bank Nifty sinks 540 pts to 45047; check top losers
Bank Nifty sank 545 points or 1.2% to 45,047.60. The top losers were Bank on Baroda, Bandhan Bank, PNB, IDFC First Bank and Federal Bank while there were no gainers on the index.
12:18 (IST) 2 Aug 2023 Nifty 50 tanks 1% to 19536; check top losers & gainers
NSE Nifty 50 tanked 196.60 points or 1% to 19,536.95, dragged by NTPC, Hero Motocorp, Tata Steel, Tata Motors and Coal India while the gainers were Divis Laboratories, Nestle India, Hindustan Unilever, Asian Paints and Adani Enterprises.
10:38 (IST) 2 Aug 2023 KEI Industries stock jumps 3% today after falling 6% on Tuesday
KEI Industries share price jumped 3.4% to Rs 2,349.05 today, reversing its 3-day losing streak. The stock fell 6.5% on Tuesday despite the company reporting a 17% jump in net profit to Rs 121.38 crore in Q1FY24, compared to Rs 103.76 crore in a year-ago period. Analysts at Nuvama attributed KEI investor’s negative reaction to the company’s results to its comparison with higher growth reported by C&W peers, which raised expectations for earnings upgrades for KEI as well. But they believe that the results were healthy and in line with management guidance. KEI Industries stock has surged 40% in the last six months and over 80% in the past one year. Nuvama has recommended a ‘Buy’ rating on the stock while Prabhudas Lilladher has maintained ‘Hold’.
Should you buy, sell, hold KEI shares?
09:29 (IST) 2 Aug 2023 Nifty, Sensex open in red
The NSE Nifty 50 tanked 76.55 points or 0.39% to 19,657 and BSE Sensex plunged 249.46 points or 0.38% to 66,209.85.
08:41 (IST) 2 Aug 2023 Bank Nifty significant support at 45300
“Bank Nifty is currently engaged in a persistent battle between the bulls and bears, resulting in a consolidation phase. A notable resistance level can be observed at 45800, and a decisive break above this resistance would potentially pave the way for further upside movements in the index. Conversely, a significant support level is visible at 45300. If the index breaks below this support level, it could signify the bears gaining full control, leading to potential downside movements towards 45000-44700 levels,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
Share Market Outlook Today
08:41 (IST) 2 Aug 2023 Bank Nifty expected to consolidate between 46500-45000
“Bank Nifty managed to hold on to the 20-day moving average (45392) and witnessed a bounce from that support. The Bollinger bands are contracting which indicates contraction of range and also range-bound price action over the next few trading sessions. Divergent signals from the daily and hourly momentum indicators further support our sideways outlook for Bank Nifty. Overall, we expect the bank Nifty to consolidate between 46500-45000,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Share Market Outlook Today
08:40 (IST) 2 Aug 2023 Nifty likely to remain range bound between 19500-20000
“A study of the hourly Bollinger bands suggests contraction of range and further points towards range-bound price action. The daily and hourly momentum indicators provide divergent signals which also suggest the absence of trending moves. Considering all the above parameters, we shall continue to maintain that Nifty is likely to remain range bound between 19500 – 20000. Crucial support levels to keep handy are 19630 – 19600 and on the upside, 19800 – 19860 is the immediate hurdle zone,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Share Market Outlook Today
08:40 (IST) 2 Aug 2023 Nifty likely to remain range bound between 19500-20000
“A study of the hourly Bollinger bands suggests contraction of range and further points towards range-bound price action. The daily and hourly momentum indicators provide divergent signals which also suggest the absence of trending moves. Considering all the above parameters, we shall continue to maintain that Nifty is likely to remain range bound between 19500 – 20000. Crucial support levels to keep handy are 19630 – 19600 and on the upside, 19800 – 19860 is the immediate hurdle zone,” said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.
Share Market Outlook Today
08:39 (IST) 2 Aug 2023 Nifty support at 19650-19600
“From a technical point of view, a sense of tentativeness could be seen as both bulls and bears remain hesitant to make a conclusive move. As far as levels are concerned, the support for Nifty lies around 19650-19600, followed by the sacrosanct support zone of 19500. On the higher end, 19800-20000 still looks like a daunting task for the bulls in the near period,” said Osho Krishan, Sr. Analyst, Technical & Derivative Research, Angel One Ltd.
Share Market Outlook Today
08:39 (IST) 2 Aug 2023 Nifty’s move above 19800 could drive the index towards 20000
“Nifty traded in a narrow range of 19700-19800, maintaining its overall bullish sentiment. It stayed above the critical near-term moving average (21EMA), reinforcing the positive outlook. A hidden positive divergence on the daily chart indicates a potential bullish reversal in price momentum. Short-term prospects suggest a sideways to positive trend if the index stays above 18550. A decisive move above 19800 could drive the index towards the 20000 mark,” said Rupak De, Senior Technical analyst at LKP Securities.
Share Market Outlook Today
08:01 (IST) 2 Aug 2023 US indices overnight
The S&P 500 and Nasdaq closed weaker on Tuesday, the first day of seasonally slow August, ahead of U.S. jobs data and major companies’ earnings reports later this week, according to Reuters. S&P 500 declined 0.27%, the Nasdaq Composite fell 0.43%, and the Dow Jones Industrial Average rose 0.2%.
08:00 (IST) 2 Aug 2023 Asian markets in red
Shares in the Asia-Pacific region were trading in the red on Wednesday. China’s Shanghai Composite and Shenzhen Component were down by 0.28% and 0.2% respectively. Japan’s Nikkei 225 tanked 1.12%. South Korea’s Kospi dclinedd 0.38% while Hong Kong’s Hang Seng fell 0.54%. The Taiwan Weighted index recorded a loss of 0.16%.