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Market LIVE: Bulls roar, Sensex soars 800 pts, Nifty tops 17850 on strong global cues, IndusInd Bank gains 3%

20 Sep , 2022   By : Monika Singh


Market LIVE: Bulls roar, Sensex soars 800 pts, Nifty tops 17850 on strong global cues, IndusInd Bank gains 3%

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and NSE Nifty were trading over one per cent higher on Tuesday, as bulls took charge on D-St. BSE Sensex surged more than 1 per cent or 800 points to trade at 59,733, while NSE Nifty 50 was hovering above 17850, up 1 per cent or 206 points. Stocks of IndusInd Bank, Tech Mahindra, Bajaj FinservHCL Tech, Infosys, L&T, Tata Steel, ICICI Bank were among top Sensex gainers. While ICICI Bank, Infosys, Reliance Industries. HDFC Bank among others contributed the most to the indices gain. Sectorally, Bank Nifty soared more than 1 per cent or 535 points to trade at 41,454.35.




Sectorally, Bank Nifty soared more than 1 per cent or 535 points to trade at 41,454.35



BSE Sensex surged more than 1% or 600 points to trade at 59,733, while NSE Nifty 50 was hovering near 17800



Markets are likely to sprint ahead in early trades Tuesday owing to overnight gains in the US markets and subsequent upsurge in other Asian gauges. However, intra-day volatility could be the ongoing theme as investors world over are bracing for a stiff interest rate hike by the US Federal Reserve to weigh on the rising inflation. Technically, Nifty needs to stabilize above the 17483 mark for a bright chance of its recovery to the 17731-17877 zone. We expect Bajaj Finance and Maruti Suzuki to rise with a long-term perspective. 



“Markets to remain tentative amid uncertainty in the global bourses. However, the undertone is expected to remain upbeat till Nifty sustains above the unfilled gap of 17400-17380 odd zone. Meanwhile, some tentativeness could be sensed until the unfilled gap of 17820-17860 is not taken out. Looking at the technical setup, the market is likely to trade within the mentioned range until a decisive breakout is not seen on either side in the comparable period. Going forward, many stock-specific adjustments are likely to continue and provide substantial trading opportunities. Hence, traders are advised to have a stock-centric approach and stay abreast with global and domestic developments on a regular basis



Markets are likely to remain range bound ahead of the US Fed interest rate decision to be announced 21Sep (Wednesday). While it is widely expected that Fed will go for at least a 75 basis points hike, however, given the stubbornness of US inflation and robust numbers from US data points like retail sales and a strong labor market, there is a high chance that the aggressive stance towards rate hike is likely to continue for a prolonged time. Even the Bank of England is likely to announce a 50bps rate hike to combat inflation and could keep global markets under pressure. US 2-Year bond have spiked to a 15-year high at 3.9% while the 10-year bond is hovering at 3.4%, thus implying that the short term pain could continue in the global markets. Back home, Indian markets are better placed compared to the other global markets due to strong macro factors, strong government policy implementation and oil prices falling to 7-month low.



Domestic equity market is expected to open on a positive note as trends in the SGX Nifty indicated a firm opening for NSE Nifty 50, BSE Sensex, with a gain of 131.50 pts. “While the undertone of the market remained volatile, a strong relief rally after the recent slump helped benchmark indices to rebound on Monday. While European markets and most of the Asian pack continued their downward spiral, the underperformance of the Indian markets last week prompted investors to buy the beaten-down stocks. Despite the recovery, markets may gyrate sharply intra-day amid global uncertainty,” 






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