TECH VIEW :: Ashis Biswas, Head of Technical Research at CapitalVia Global Research Limited
The market witnessed some lackluster movement and an attempt to hold the level around the Nifty 50 Index level of 17500. The market research shows that it is going to be crucial for the short-term market scenario to sustain above the 17450-17500 Nifty50 Index support zone. If the market is able to sustain the level of 17450-17500, it can witness higher levels of 17850. The momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook.
4:06 PM
MARKET CLOSE :: Vinod Nair, Head of Research at Geojit Financial Services
Despite hopeful signs in the global markets, domestic main indices traded in a narrow range to give away its early gains in today’s volatile session. However, the broad market was robust barring banks, all major sectors were in demand and media, metals and realty outperformed. Realty stocks were in focus owing to an increase in property registrations in September while easing jitters over the Chinese economy bolstered metal stocks. Investors traded cautiously awaiting the outcome of the FOMC meeting that will clear the air regarding Fed’s tapering plans.
4:05 PM
TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities
Index showed a very narrow range for a day and closed a day at 17547 with minimal loss forming a small bearish candle on the daily chart. the index has same support zone around 17500-17430 zone any dip near said levels will be again buying opportunity with keeping immediate stop out level below 17450 zone and resistance is coming near 17600-17660 zone also one can lock their trading long gains around said levels, the overall range is still in between 17300-17800 zone & either side breakout will decide the final direction.
4:02 PM
Nifty Realty index ends over 8% higher led by Godrej Properties, DLF
4:00 PM
Among the 30 stocks in the BSE Sensex index, 16 closed with gains
3:56 PM
IPO Update :: Paras Defence IPO subscribed 36 times on Day 2 so far
3:52 PM
Zee Entertainment shares surge over 30% after company announces merger with Sony Pictures Networks India
3:49 PM
Route Mobile ends up 1.5% after board approves raising up to Rs 2,000 crore
3:46 PM
Nifty Media top sectoral gainer; closes 13% higher led by 30% surge in ZEEL
3:44 PM
Sector watch :: Most sectors end in green; financial services, select banks & FMCG closed lower
3:37 PM
Broader markets outperform benchmarks; Nifty Smallcap 100 rises by 1%
3:35 PM
CLOSING BELL :: Nifty ends down 15 points, but above 17,500-mark
3:32 PM
Sensex falls 78 points to end below 59,000-level
3:20 PM
RBI Governor says signs of world emerging from shadows of Covid pandemic
>> Although Covid still haunting global economies
>> Fintech, Edtech companies are likely to see increased funding
>> E-commerce is emerging as another positive sector
3:16 PM
Need to plan for stronger, fairer Indian economy: RBI Governor
>> Policy makers have no template to navigate Covid
>> Cos resetting supply chains as consumption patters are changing
Investors on Dalal Street ditched the largecap stocks for mid and smallcap players as valuation concerns lingered at the benchmark level. Moreover, investors are banking on the minnows to gain further ground amid a swift recovery in the Indian economy. Amid this backdrop, the broader markets outperformed the benchmark indices. The Nifty Midcap 50 jumped 2.74 per cent while the Nifty Midcap 100 was up 1.67 per cent. At the same time, the Smallcap 100 pack was up 1.4 per cent.
Against this, the NSE Nifty settled the day in the red ahead of the FOMC outcome later today. The 50-pack index closed 15 points lower at 17,547. Its BSE counterpart Sensex settled the day at 58,927, down 78 points.
In the Sensex pack of stocks, 16 ended in the green and 14 in the red. Tech Mahindra, M&M, HCL Tech and Bajaj Auto were the top gainers while HDFC, Nestle India, ICICI Bank and HUL were the worst laggards.
Sectorally on NSE, the Nifty Media pack hogged the limelight as it surged 13.57 per cent, following a sharp rally in index heavyweight Zee Entertainment (ZEEL). The shares of ZEEL (up 30.50 per cent) surged after the media company's board unanimously provided an in-principle approval for the merger between Sony Pictures Networks India (SPNI) & ZEEL. READ HERE
Nifty Realty index was another top performer, notching 8.45 per cent returns. All stocks from the realty pack also settled in the green amid strong demand outlook. Nifty Financial Services, Bank, Private Bank and FMCG were the only losers.