Nifty fails to hold above 9,900; BSE Midcap, Smallcap hit fresh highs

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4:11 PM

Anand James, Chief Market Strategist, Geojit Financial Services

 

Banks continue to remain expectant, while Pharma has found defensive buying, helped by positive FDA observations, helping markets to put GST shocks behind. Stock specific moves have now become more dominant with earnings beginning to flow in.

3:58 PM

Nifty oulook by Mustafa Nadeem, CEO, Epic Research

 

A bullish candlestick is observed in today's session after a Doji yesterday confirming the buying momentum. Bulls emerged at lower levels as buying was seen across sectors. 

 

A doji followed by a bullish candlestick negated the selling pressure at higher levels with Nifty retracing back to 9,900. A bullish confirmation is in place for short term. Resistance is seen at 9,920-9,930 which may continue with next possible target at 10,000 while if market cannot sustain the said resistances, we may see a mild profit-booking. though overall range becomes 9,950 - 9,800 for the short-term. 

3:53 PM

ITC ends over 2% higher at Rs 291 after the stock witnessed its sharpest fall in nearly two decades – down 13% on closing basis – on Tuesday.

3:50 PM

On the sectoral front, all the sectoral indices on the National Stock Exchange (NSE) settled with gains. Recouping from yesterday’s losses, the FMCG index closed the day with gains of 1.4%. Healthcare, metals and media stocks supported the market on the upside.

3:47 PM

Top Sensex gainers and losers

stocks

3:43 PM

The broad market depicted strength. There were almost two gainers against every loser on BSE. 1,668 shares rose and 964 shares fell. A total of 151 shares were unchanged.

3:42 PM

Broader markets outperform. The BSE Midcap (up 1%) and the BSE Smallcap (up 0.9%) hit fresh closing highs. 

3:40 PM

MARKETS@CLOSE

Sensex ends at 31,955, up 244 points, while the broader Nifty50 closes at 9,899, up 72 points.

3:31 PM

The S&P BSE Midcap index hit a new high of 15,265, up 1% on BSE, after a strong gain in oil & gas, metals and financial stocks. The index surpassed its previous high of 15,247.90 touched on Monday, July 17, 2017 in intra-day trade. 

midcap

3:26 PM

European bourses were higher Wednesday morning as investors took stock of a series of corporate announcements from across the continent. Euro Stoxx 50 and FTSE 100 were up 0.1% each, while CAC 40 gained 0.2%. 

3:22 PM

Mastek hits upper circuit of 20% at Rs 358 on strong Q1 earnings. CLICK HERE FOR FULL REPORT 

3:20 PM

All sectoral indices were trading in green; Nifty Pharma leads with over 2% gains 

3:14 PM

Bajaj Finance hit a new high of Rs 1,578, up 4% on BSE in intra-day trade, after the company reported a better than expected 42% year on year (YoY) jump in its standalone net profit at Rs 602 crore for the June quarter against Rs 424 crore reported in the same quarter year ago.  CLICK HERE FOR EARNINGS REPORT

3:04 PM

MARKET CHECK

Markets extended gains in the late afternoon deals with Nifty50 rising as much as 9,899. At 3:00 am, the Sensex was trading at 31,945, up 234 points, while the broader Nifty50 was ruling at 9,891, up 64 points. 

2:50 PM

Broader markets continue to outperform headline indices. BSE Midcap and BSE Smallcap indices up nearly 1% each.