The Nifty50 formed a Hammer-like candle on the daily charts, a bullish sign provided we see a follow-through in Tuesday’s session as well. A Hammer is formed after a price decline. It has a small real body and a long lower shadow. The Nifty50 opened higher, but bears pushed the index towards an intraday low of 17,429 before reversing the trend.
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Wall Street opens lower on worries over big rate hikes
Wall Street’s main indexes opened lower on Monday, extending declines for a third straight session, on worries that another big interest rate hike by the Federal Reserve could tip the U.S. economy into recession.The Dow Jones Industrial Average fell 99.56 points, or 0.32%, at the open to 30,722.86.The S&P 500 opened lower by 23.42 points, or 0.60%, at 3,849.91, while the Nasdaq Composite dropped 109.84 points, or 0.96%, to 11,338.57 at the opening bell. (
Sebi puts Fairfax Group-backed Go Digit’s IPO in ‘abeyance’
Capital markets regulator Sebi has kept in “abeyance” the proposed initial share sale of Canada-based Fairfax Group-backed Go Digit General Insurance Ltd.However, the Securities and Exchange Board of India (Sebi) did not clarify further.Go Digit had filed preliminary IPO papers with the capital markets regulator on August 17.Cricketer Virat Kohli and his wife Anushka Sharma are among the investors in the firm.Going by the draft papers, the company’s proposed initial public offering (IPO) comprised fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale of 10.94 crore equity shares by a promoter and existing shareholders.Proceeds from the fresh issuance were to be utilised for the augmentation of the company’s capital base and maintenance of solvency levels and general corporate purposes.
Olectra Greentech-Evey Trans consortium bags orders for 123 electric buses
Olectra Greentech and Evey Trans consortium has bagged orders for 123 electric buses worth Rs 185 crore from Thane Municipal Transport Undertaking in Maharashtra, a statement said. Both Olectra Greentech and Evey Trans are part of the Hyderabad-based Megha Engineering and Infrastructures Ltd.EVEY Trans will procure these e-buses, which comprises both air-conditioned and non-air-conditioned, from Olectra Genentech and will deliver to the entity in nine months, it said.The company is already operating its e-buses in Pune, Mumbai and Nagpur in the state.
Tech View: Nifty50 forms a Hammer-like candle
The Nifty50 recouped intraday losses to close above 17,600 levels on Monday, suggesting that bulls are not ready to give up. The S&P BSE Sensex rallied more than 300 points to close above 59,000.The Nifty50 formed a Hammer-like candle on the daily charts, a bullish sign provided we see a follow-through in Tuesday’s session as well.A Hammer is formed after a price decline. It has a small real body and a long lower shadow. The Nifty50 opened higher, but bears pushed the index towards an intraday low of 17,429 before reversing the trend.
Nifty has remained range-bound as investors await the FOMC outcome, due this week. On the lower end, Nifty found support above 17400, whereas bears protected the 17700 mark. The trend is likely to remain sideward over the near term. Support is placed at 17350-17400, a fall below 17350 may trigger a correction towards 17000. On the higher end, 17700 may act as crucial resistance. A decisive move above 17700 may induce a rally towards 17900/18100.
– Rupak De, Senior Technical Analyst at LKP Securities
Markets managed to gain over half a percent in a volatile trading session, taking a breather after the recent slide. The Nifty index witnessed a swift rebound in the first hour after the initial fall and remained range bound thereafter. Meanwhile, the sectoral trend was mixed wherein banking, FMCG and auto witnessed buying interest while realty, energy and metal were on the back foot.We expect choppiness to continue amid the feeble global cues so it’s prudent to place positions on both sides. Banking and financials are doing well on the expected lines and we’re seeing selective buying in auto and FMCG also on dips. On the flip side, mostly stocks from the IT and pharma space trading with a negative bias. Participants should align their positions accordingly.
– Mr. Ajit Mishra, VP – Research, Religare Broking Ltd
The global market was expected to battle volatility as we approach the Fed policy announcement, while the latest inflation data remained above the estimates. The policy tone indicates hawkish measures, suggesting elevated hikes, leading to the pull-out of FIIs money from the Indian equities. However, this trend is expected to be short-lived, as future inflation trend forecast a clampdown, bringing stability in policy stance by the end of this year.
– Vinod Nair, Head of Research at Geojit Financial Services
Shri Girish Kousgi, Managing Director & CEO, of Can Fin Homes Board informed about his decision to resign from the post of Managing Director & CEO of the company for personal reasons.
Price as on 19 Sep, 2022 03:40 PM, Click on company names for their live prices.
Sensex Heatmap: 23 of 30 index stocks close with gains
CLOSING BELL: Sensex rebounds over 650 pts from day’s low, ends 300 points higher; Nifty tops 17,600; M&M, Bajaj Finance jump 3% each
Gold falls Rs 303; silver drops Rs 197
Gold prices declined by Rs 303 to Rs 49,571 per 10 grams in the national capital on Monday amid weak global cues and rupee appreciation, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 49,874 per 10 grams.Silver also dipped by Rs 197 to Rs 57,090 per kilogram from Rs 57,287 per kg in the previous trade.
Tyre stocks buzzing in trade!
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Jawahar Lal Goel, Director of Dish TV, resigns from board; stock spikes 9%
Price as on 19 Sep, 2022 02:49 PM, Click on company names for their live prices.
On Firm Footing! Cement stocks buzz in trade today
Price as on 19 Sep, 2022 02:34 PM, Click on company names for their live prices.
Several fund houses are increasing their cash levels, what are the reasons behind this?
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Indian billionaire Gautam Adani’s ascent to rank as the world’s second-richest person has helped fuel a world-beating jump in the nation’s stocks and bolstered their clout among emerging-market equities. Eight firms controlled by Adani’s ports-to-power conglomerate, including recent cement acquisitions, have contributed more than a fifth of the 109-member MSCI India Index’s surge since end-June, data compiled by Bloomberg show. The index has outpaced Asian and emerging market peers during the period with a 12% jump.
Defence stocks buzzing in trade today on Indian army proposal
Price as on 19 Sep, 2022 01:33 PM, Click on company names for their live prices.
India sits at a turning point in the global economic order: Uday Kotak
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Adani Wind Energy MP One Private Ltd (AWEMP1PL), a subsidiary of Adani Green Energy Limited has commissioned a 324.4 MW Wind Power Plant in Dhar, Madhya Pradesh. The plant has two 25-year Power Purchase Agreements (PPAs) with SECI of 274.4 MW and 50 MW, at Rs 2.83/kwh.
Price as on 19 Sep, 2022 01:00 PM, Click on company names for their live prices.
Ola said on Monday it will cut about 200 jobs from its overall engineering workforce as a part of the SoftBank Group -backed group’s restructuring exercise to minimise redundancy.
NPAs of over Rs 50,000 cr will be transferred to NARCL soon: ET NOW
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Arfin India approved sub-division of each fully paid up share into 10 equity shares
Price as on 19 Sep, 2022 12:13 PM, Click on company names for their live prices.
Days after completing a USD 6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. He saw a multifold rise in cement demand in India on the back of record-breaking economic growth and the government’s infrastructure creation push, which will give significant margin expansion.
DB Realty hits 5% upper circuit after company enters non-binding term sheet to sell land worth Rs 480 cr
Price as on 19 Sep, 2022 11:35 AM, Click on company names for their live prices.
Morgan Stanley revises rate call on India’s RBI to 50 bps on sticky inflation
“We were earlier expecting a 35 bps increase, however, sticky inflation and continued hawkish stance of DM (developed market) central banks warrant continued front-loading of rate hikes in our view,” Upasana Chachra, chief India economist at Morgan Stanley, said in a note on Friday.
M&M stock rallies nearly 4% on unlocking value in renewable energy arm
Price as on 19 Sep, 2022 11:26 AM, Click on company names for their live prices.
Sectoral & stock ideas from top market voices : @ravidharamshi77 of @VQIndia | @HirenVed of Alchemy Capital | Vikash Kumar Jain of @CLSAInsights
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NSE IT index up nearly 1% after a shaky start
Price as on 19 Sep, 2022 11:07 AM, Click on company names for their live prices.
Shares of Indo-National Industries zoomed 18 per cent during the early trade on Monday after a big order win by its subsidiary. The manufacturer of Nippo Batteriesinformed bourses that its subsidiary Kineco has bagged a big order worth Rs 113 crore from ICF Chennai, in an exchange filing.
Price as on 19 Sep, 2022 11:01 AM, Click on company names for their live prices.
Casino operator Delta Corp plunged about 5 per cent in early trade on Monday after the company clarified that it has not received any licence recently. There were several reports suggesting that the gaming company has been granted casino licenses inter alia to Deltin Hotel, Daman from the Administration of Daman and Diu, a union territory (UT).
Price as on 19 Sep, 2022 10:59 AM, Click on company names for their live prices.
Inox Wind rises over 7% as the company plans for Inox Green Energy Services IPO
Price as on 19 Sep, 2022 10:58 AM, Click on company names for their live prices.
Welspun Corp, the part of Welspun Group, rallied about 5 per cent during the early trade on Monday after the company received an order from the United States (US). Welspun Corp has secured a significant order for a carbon capture pipeline project in the United States, the company said in a regulatory filing.
Price as on 19 Sep, 2022 10:57 AM, Click on company names for their live prices.
Mafatlal Industries said the board of directors has given approval for sub-division of existing equity share from one equity share (face value Rs 10 each) into five shares (face value Rs 2 each). The record date for sub-division of equity shares will be intimated in due course.
Price as on 19 Sep, 2022 10:08 AM, Click on company names for their live prices.
Bank stocks on a roll; Nifty PSU Bank up 2%
Price as on 19 Sep, 2022 10:06 AM, Click on company names for their live prices.
Gensol Engineering says order book as on September 18 at Rs 531 crore
Price as on 19 Sep, 2022 10:04 AM, Click on company names for their live prices.
Granules India’s buyback offer will open on September 27 and the offer will close on October 11. The company will buy back shares worth up to Rs 250 crore and the buyback price has been fixed at Rs 400 per share.
Price as on 19 Sep, 2022 09:53 AM, Click on company names for their live prices.
The National Company Law Tribunal (NCLT) approved the merger of Exide Life Insurance with HDFC Life Insurance
Price as on 19 Sep, 2022 09:48 AM, Click on company names for their live prices.
The Adani Group’s utility arm Adani Power said its promoter entity Adani Properties has withdrawn a proposal to delist the company due to non-receipt of in-principle approval of stock exchanges. The company in a regulatory filing stated that it has received a letter from a member of the promoter group seeking withdrawal of delisting offer.
Price as on 19 Sep, 2022 09:37 AM, Click on company names for their live prices.
Jefferies on Ambuja Cements and ACC Limited: Upgrade to Buy for Ambuja Cements; Maintain Buy for ACC Limited
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What are the top midcap names that mutual fund houses have added or removed from their portfolios in August? ET Now brings us the full list
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Metal has a dull beginning, almost 1% down
Price as on 19 Sep, 2022 09:29 AM, Click on company names for their live prices.
Maruti Suzuki India, the country’s largest car maker has decided to recall 5002 super carry vehicles manufactured between May 4 and July 30. The recall is being undertaken for inspection and torquing of a bolt attached to seat belt buckle bracket of co-driver seat. It is suspected that there is a possible defect in bolt torquing.
Price as on 19 Sep, 2022 09:27 AM, Click on company names for their live prices.
OPENING BELL: Sensex rises 60 points, Nifty above 17,550; Ambuja Cements gains 3%, Bajaj Finserv 2%
On the technical front, Nifty formed a long negative candle on the daily chart, resembling closer to a dark cloud cover which has a bearish implication and indicating of further weakness ahead. On the oscillator front, the 14-period RSI has witnessed a sell crossover and presently trading below the 60-level mark and turned flattish indicating of sluggish momentum for the short to medium term. Thus, one need to avoid trading aggressively amid global nervousness. Considering the present situation, a bare minimum correction of 23.6% of the entire rally from 15,183 to 18,096 comes around 17415 followed by 38.2% correction at 16990. However on the medium term perspective price structure indicates of continuance of positive bias and our domestic Index is likely to head towards 18,300 in near term as it is the swing high of January 2022. Nifty also registered a bullish golden crossover in August (50-DEMA crossing above 200-DEMA) implying major shift of momentum from a medium-term perspective. During the day index is likely to open on a flat to negative note tracking weak global cues. However the index is expected to rebound post initial blip as strong intraday support placed at 17400-17450. Hence, use intraday dip for creating long position for the target of 17865-17900.
– Tirthankar Das, Technical & Derivative Analyst, Retail, Ashika Stock Broking
Pre-open session: Sensex slips over 150 points; Nifty below 17,510
RUPEE OPENS UP 0.08% AT 79.6800 PER U.S. DOLLAR; PREVIOUS CLOSE 79.7400
Asian stocks brace for salvo of central bank hikes
Share markets idled in Asia on Monday as investors braced for a week littered with 13 central bank meetings that are certain to see borrowing costs rise across the globe and some risk of a super-sized hike in the United States.
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 19 points, or 0.11 per cent, higher at 17,582, signaling that Dalal Street was headed for a positive start on Monday.
Tech View: Nifty50 forms bearish candle on daily and weekly charts
The Indian markets closed in the red for the third consecutive day and formed a bearish candle on the daily and weekly charts, which suggests bears could remain in control in the coming week.
Wall Street drops to two-month lows as recession fears mount
U.S. stocks ended in the red on Friday, falling to two-month lows as a warning of impending global slowdown from FedEx hastened investors’ flight to safety at the conclusion of a tumultuous week.
Oil prices climb on weak dollar, supply concerns
Oil prices climbed during early Asian trade on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears of a global recession that could dampen fuel demand.
Rupee falls 7 paise to close at 79.78 against US dollar on forex outflows
The rupee declined by 7 paise to close at 79.78 against the US dollar on Friday, tracking a strong dollar in overseas markets and losses in domestic equities.
Sensex, Nifty on Friday
NSE’s Nifty fell 346.55 points or 1.94% to close at 17,530.85. BSE’s Sensex declined 1093.22 points or 1.82% to end at 58,840.79.