Sensex today: STOCK MARKET HIGHLIGHTS: Nifty50 forms bullish candle; what does it signal for Tuesday’s trade – Economic Times

The Nifty50 on Monday ended higher after two days of fall. The index formed a bullish candle on the daily chart and stayed in a broader range. Analysts said the index faces resistance at 17,780-800 a breach of which can attract buying. They see immediate support at 17,500. It’s a buy-on dips market, they said.

Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said a positive candle after a negative one on Friday indicates a range-bound action for the market, with positive bias.
The NSE Nifty advanced 126.35 points or 0.72 per cent to 17,665.80.

From the Sensex pack, Sun Pharma, ITC, NTPC, Reliance Industries, Larsen & Toubro, Tata Steel, HCL Technologies and ICICI Bank were among the major gainers.

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Oil prices jump $3 as OPEC+ plans to cut oil output targets by 100,000 bpd

Oil prices rose more than $2 a barrel on Monday, extending gains as OPEC+ producers agreed to cut oil output targets by 100,000 bpd in October, according to a source.Brent crude futures futures for November delivery rose $3.57 to $96.59 a barrel, a 3.8% gain, by 7:24 a.m. ET (12:24 GMT).U.S. West Texas Intermediate crude was up $2.13, or 2.5%, at $89 after a 0.3% gain in the previous session.U.S. markets are closed for a public holiday on Monday.The chairman of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, said it would consider calling for an OPEC and non-OPEC ministerial meeting anytime to address market developments, if necessary.[nS8N2UD09H].

Oil prices jump $3 as OPEC+ plans to cut oil output targets by 100,000 bpd

OPEC+ oil producers cut supplies of crude to global economy as oil prices have fallen because of recession fears

OPEC+ oil producers cut supplies of crude to global economy as oil prices have fallen because of recession fears

Tech View: Nifty50 forms a bullish candle; it’s a buy on dips market, say analysts

The Nifty50 on Monday ended higher after two days of fall. The index formed a bullish candle on the daily chart and stayed in a broader range. Analysts said the index faces resistance at 17,780-800 a breach of which can attract buying. They see immediate support at 17,500. It’s a buy-on dips market, they said. Nagaraj Shetti, Technical Research Analyst at HDFC Securities, said a positive candle after a negative one on Friday indicates a range-bound action for the market, with positive bias.”A sustainable buying could only emerge on the move above 17,800 level, and the slide below the immediate support of 17,300 could pull Nifty50 down to the next support of 17,000 level for the near term. However, weekly and monthly charts are still positive, and one may expect any downward correction to be a buy on dips opportunity,” Shetti said.For the day, the index closed at 17,665.80, up 126.35 points or 126.35 points or 0.72 per cent.

Liz Truss named as Britain’s next prime minister

Liz Truss was named as Britain’s next prime minister on Monday, winning a leadership race for the governing Conservative party at a time when the country faces a cost of living crisis, industrial unrest and a recession.After weeks of an often bad-tempered and divisive leadership contest that saw the foreign minister face off against former finance minister Rishi Sunak, Truss came out on top in a vote of Conservative Party members, winning by 81,326 votes to 60,399.”We need to show that we will deliver over the next two years. I will deliver a bold plan to cut taxes and grow our economy,” Truss said after the result was announced.”I will deliver on the energy crisis, dealing with people’s energy bills, but also dealing with the long-term issues we have on energy supply.”

Liz Truss named as Britain's next prime minister

The Bank Nifty bulls continued their upper hand and closed near the immediate hurdle of 39,800. The index is trading in a strong uptrend with higher top and had higher bottom formations intact on all the time frames. The index once surpasses the mentioned hurdle will see a strong move on the upside toward the 41,000-41,500 zone. The lower-end support stands at the 38,800-38,500 zone where fresh put writing has been observed.

– Kunal Shah, Senior Technical Analyst at LKP Securities

Concerns about the global economy, which is struggling with high inflation and recession, were stoked by mixed job data from the US and a worsening energy situation in Europe. Strong employment in the US will give Fed the confidence to raise interest rates by another 50–75 bps in the forthcoming policy meetings. In anticipation of decrease in output, oil prices increased prior to the OPEC+ summit. Meanwhile, none of these has impacted the domestic market, which continues to hold an upbeat outlook, bolstered by strengthening local economic statistics and rising corporate demand.

– Vinod Nair, Head of Research at Geojit Financial Services

Top 5 gainers & losers in trade today

Price as on 05 Sep, 2022 03:38 PM, Click on company names for their live prices.

Heatmap | 23 of 30 Sensex stocks close in the green

Heatmap | 23 of 30 Sensex stocks close in the green

Closing Bell: Sensex surges 443 pts, Nifty tops 17,650; Dish TV zooms 20%; Nestle drops 2%

Closing Bell: Sensex surges 443 pts, Nifty tops 17,650; Dish TV zooms 20%; Nestle drops 2%

Shipping Corporation of India says government appoints Binesh Kumar Tyagi as co’s Chairman & MD

Price as on 05 Sep, 2022 03:29 PM, Click on company names for their live prices.

Arfin India to consider a proposal for sub-division of equity shares

Price as on 05 Sep, 2022 03:18 PM, Click on company names for their live prices.

Most active stocks in afternoon session

Price as on 05 Sep, 2022 03:01 PM, Click on company names for their live prices.

OPEC+ to discuss 100,000 bpd oil production cut: Reuters

OPEC+ will discuss oil output cuts by 100,000 barrels per day among other options at its meeting on Monday, an OPEC+ source said.

OPEC+ to discuss 100,000 bpd oil production cut: Reuters

IB Realty among top 5 gainers from the realty pack

Price as on 05 Sep, 2022 02:05 PM, Click on company names for their live prices.

European shares slide as Nord Stream 1 shutdown extends

European shares tumbled on Monday after Russia extended a halt on gas flows down the Nord Stream 1 pipeline to Europe, sparking worries over energy prices and growth and spurring governments to announce emergency measures. The Europe-wide STOXX 600 index fell 1.6% by 0713 GMT, while Germany’s DAX index sank 2.8%. German utilities including Uniper, RWE, E.ON and PNE dropped between 3.5% and 11%.

KPI Green Energy is setting up green hybrid capacities totalling 16.10 MW at Bhavnagar, under the Gujarat hybrid power policy 2018.

Price as on 05 Sep, 2022 01:21 PM, Click on company names for their live prices.

Bellwether lenders HDFC Bank and State Bank of India (SBI) plan to collectively raise up to Rs 10,000 crore through sales of perpetual bonds this week, people familiar with the matter told ET, pointing to booming credit demand in a rebounding economy that’s now the world’s fifth largest.

Price as on 05 Sep, 2022 01:17 PM, Click on company names for their live prices.

Reliance Power and its subsidiary have inked a pact with Varde Partners for availing debt of up to Rs 1,200 crore. In a regulatory filing, Reliance Power said the company and its subsidiary have entered into a indicative Memorandum of Understanding (MoU) with Varde Partners for availing debt of up to Rs 1,200 crore (USD 150 million) “for settlement and discharge and/or acquisition and restructuring of certain financial debt availed by Reliance Power.”

Price as on 05 Sep, 2022 12:58 PM, Click on company names for their live prices.

STOCK IN FOCUS: TATA MOTORS

These stocks defy market mood, fall up to 5%

Price as on 05 Sep, 2022 12:44 PM, Click on company names for their live prices.

These NSE stocks surged to 52-week highs in trade today

These NSE stocks surged to 52-week highs in trade today

Blue Jet Healthcare files draft papers with Sebi for IPO

Blue Jet Healthcare, a specialty pharmaceutical and healthcare ingredient and intermediate company, has filed its draft red herring prospectus (DRHP) with market regulator Sebi for an initial public offering (IPO). The proposed issue would be a complete offer-for-sale (OFS) of up to 21,683,178 equity shares by the promoter and selling shareholders and comprises up to 18,366,311 shares by Akshay Bansarilal Arora and up to 3,316,867 by Shiven Akshay Arora.

Blue Jet Healthcare files draft papers with Sebi for IPO

Dixon Technologies signs deal with Google to sub license rights

Price as on 05 Sep, 2022 11:37 AM, Click on company names for their live prices.

Check out the top gainers from banking pack

Price as on 05 Sep, 2022 11:22 AM, Click on company names for their live prices.

News report of a merger between Federal Bank and another private bank (Kotak Bank) is speculative in nature, former clarifies

Price as on 05 Sep, 2022 11:04 AM, Click on company names for their live prices.

India’s services activity grew faster in Aug; hiring at over 14-year high

  • India’s dominant services industry grew faster than expected in August thanks to a solid expansion in demand and a continued easing in cost pressures, encouraging firms to hire at the quickest pace in more than 14 years, a private survey showed.

  • Driven by strong growth in services and manufacturing activity, Asia’s third-largest economy expanded at its fastest annual pace in a year during the April-to-June quarter.

  • However, that momentum is unlikely to be sustained over the coming quarters as higher interest rates, elevated price pressures, and growing concerns about a global recession pose significant risks to the economy.

Source: Reuters

Aditya Birla AMC is joining the race for stake in UTI AMC: ET NOW Sources

Price as on 05 Sep, 2022 10:59 AM, Click on company names for their live prices.

FPIs’ addition of shorts in index futures could check Nifty’s upside

The long-short ratio in index futures – a measure of market sentiment – of overseas investor positions has plunged to a two-month low of 19%, which could make the ride challenging in the coming week, said analysts. The long-short ratio plunged from 76% on Tuesday to 37% on Thursday and 19% on Friday, showing that FPIs suddenly turned bearish on the Indian market with 81% short position.

Media & entertainment pack gains; these are the top performers

Price as on 05 Sep, 2022 10:33 AM, Click on company names for their live prices.

India 10-year bond a good bet for long position: Morgan Stanley

  • Morgan Stanley sees a “good chance” of JPMorgan including Indian government bonds in its index, and recommended going long on the 10-year benchmark bond yield.

  • “We now believe that there is a very good chance that JPM will announce the index inclusion of India’s bond market in mid-September,” strategists Min Dai and Madan Reddy said in a note.

  • “We recommend to position for a strong INR and lower G-Sec yields tactically. We like to add a short EUR/INR limit order and long 10-year G-Secs, targeting 25bp lower from here.”

Tamilnad Mercantile Bank IPO kicks off: Should you subscribe?

Most analysts said the asking valuations are attractive when compared with peers, but the bank’s future growth would be subject to pending legal actions. Some of them, therefore, have a ‘subscribe’ rating on the issue with a long-term view.

Tamilnad Mercantile Bank IPO kicks off: Should you subscribe?

The week opens with a modest downside objective of 17440-370, before allowing a chance for bulls to fight back. Inability to push beyond 17580, would however bring the 17000-16650 region again in play.

– Anand James – Chief Market Strategist at Geojit Financial Services

Market Movers: YES Bank, Voda Idea, Trident among most active stocks on NSE in early trade

Price as on 05 Sep, 2022 09:45 AM, Click on company names for their live prices.

Digital financial services firm One97 Communications (Paytm), which operates under the Paytm brand, on Sunday denied any link with the merchants that are under the Enforcement Directorate scanner in the Chinese loan app case.

Price as on 05 Sep, 2022 09:29 AM, Click on company names for their live prices.

US jobs generation figures and employment data released last Friday are favorable from the equity market perspective. Jobs generation (315000 in August) continues to be strong indicating a robust economy. This would have called for a hawkish Fed action on 21st September, but unemployment rising from 3.5% to 3.7% and declining wage growth reflect a slowing economy and proof that rate hikes are working. The Fed may again hike the rate by 75 bp this month; it is also possible that the hike may be 50bp. Either way, the market is unlikely to be surprised. India is presently the best performing market globally. FIIs turning buyers has imparted strength to the market. Derivatives data indicates high volatility ahead.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Sensex Heatmap: Kotak Bank top performer, Nestle worst

Sensex Heatmap: Kotak Bank top performer, Nestle worst

OPENING BELL: Sensex gains over 200 points, Nifty above 17,550; Suzlon rallies 10%, Bajaj Hindusthan Sugar 5%

Buy or Sell: Stock ideas by experts for September 05, 2022

Angel One August average daily turnover up 20.1% MoM, up 117.9% YoY

Angel One August average daily turnover up 20.1% MoM, up 117.9% YoY

Asia shares ease, euro slugged by energy crisis

Asian shares slipped on Monday while the euro took a fresh spill after Russia shut a major gas pipeline to Europe, leading some governments there to announce emergency measures to ease the pain of soaring energy prices.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 43 points, or 0.25 per cent, lower at 17,496, signaling that Dalal Street was headed for a negative start on Monday.

Quarterly earnings today

Fedders Electric & Engineering, Marg Techno Projects, Sri Krishna Constructions and Indosolar are among companies that will announce their quarterly earnings today.

Tech View: Nifty50 may consolidate in broader 17,300-800 range

The Nifty50 on Friday formed a double Inside Bar pattern on the daily scale, reflecting indecision. On the weekly scale, the index formed a bullish candle with an upper wick, reflecting selling at highs. Analysts said the index might keep trading in a consolidation phase unless it breaches 17,300-800 range decisively.

Oil prices climb more than $1/bbl ahead of OPEC+ meeting

Oil prices jumped more than $1 a barrel on Monday, extending gains as investors eyed possible moves by OPEC+ producers to tweak production and support prices at a meeting later in the day.

Tokyo stocks open lower after US losses

Tokyo stocks opened lower on Monday, extending falls on Wall Street where sentiment worsened after Russia said it would keep a key gas pipeline to Germany offline. The benchmark Nikkei 225 index was down 0.31 percent, or 85.23 points, at 27,565.61 in early trade, while the broader Topix index slipped 0.29 percent, or 5.65 points, to 1,924.52.

Wall Street ends week on down note as jobs report gain fade

U.S stocks closed out the trading week on a down note on Friday, as early gains from a jobs report that showed a labor market that may be starting to loosen gave way to worries about the European gas crisis.

Rupee declines by 31 paise to close at 79.87 against US dollar

The rupee declined by 31 paise to close at 79.87 against the US currency on Friday due to a strong dollar demand from importers and losses in Asian peers.

Sensex, Nifty on Friday

The 30-share Sensex rose 36.74 points to end at 58,803.33. Its broader peer, Nifty50, ended at 17,539.45, down 3.35 points.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day

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