Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices started Friday’s trading session in the green. S&P BSE Sensex added more than 150 points on opening to jump 0.24% and breach 58,400 while NSE Nifty 50 index crossed 17,400. Bank Nifty was above 37,800 while India VIX was down in red, holding just above 19 levels. Reliance Industries was the top laggard on Sensex, down 0.90%, followed by Maruti Suzuki India, Nestle, and HDFC. Ultratech Cement was up 1.68% as the top gainer, accompanied by Bharti Airtel, and Larsen & Toubro. Eyes were on banking sector stocks ahead of RBI’s monetary policy committee decision.

MPC said that it is focused on the withdrawal of accommodation stance, sid RBI Governor Das.

RBI Governor Shaktikanta Das today announced that the MPC has decided unanimously to hike rates by 50 basis points to 5.4%.

Sensex extended gains to cross 58,500 on Friday, rising more than 200 points. Nifty 50 was inching closer to 17,500.

“RBI rate action today is unlikely to impact markets. The most likely scenario of a 30 to 35 bp rate hike is already known and discounted by the market. Market will be looking forward to the RBI's commentary on inflation, GDP growth for FY 23 and other macros like CAD. The momentum in the market now is influenced by global cues and strong FII buying which has crossed Rs 5300 cr so far in August. The decline in Brent crude to $94 is positive for India's macros and the dip in dollar index to below 106 again augur well for capital flows to India. FII buying happening in sectors like capital goods, FMCG, construction and power is likely to impart resilience to these segments,”

Sensex opened 150 points or 0.23% higher, crossing 58,400 while the Nifty 50 index was above 17,400. India VIX dropped but was still above 19 levels.

Nifty closed almost flat on Aug 04 after seeing wild moves on either side on the weekly F&O expiry day. At close, Nifty was down 0.04%% or 6.2 points at 17382. Nifty again showed hesitation in staying low as traders came in to do dip buying, although higher levels attracted some profit taking. 17491-17530 could be the resistance band for the Nifty in the near term while a breach of 17155 could result in acceleration of downtrend.

“Friday’s price action post the RBI Policy will be of utmost importance as that will lead to the short term directional move for the market. Since the momentum readings on the daily chart are in an overbought zone, traders should look to lighten up long positions. A break of low of 17160 will then confirm the change of trend. Also in last couple of sessions, the up move has been concentrated to fewer stocks and sectors which is a sign of divergence. So traders should be very specific in stock picking at current levels and trade with proper risk management. The immediate supports for Nifty are placed around 17160 and 17000 while resistances are seen around 17500 and 17600,”