Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Thursday’s trading session in the negative territory.The NSE Nifty 50 tanked 264.90 points or 1.39% to settle at 18,857.25, while the BSE Sensex shed as much as 900.91 points or 1.41% to 63,148.15. The broader indices settled lower with Midcap stocks leading the losses. The Bank Nifty index tumbled as much as 551.85 points or 1.29% to 42,280.15. Other sectoral indices also ended in red with Auto, Financial Services, Metal, Private Bank and Realty leading the losses. The volatility index (India Vix) ended up 3.69%.
(Source: NSE)
11:56 (IST) 26 Oct 2023 Top losers
Mahindra & Mahindra, Tech Mahindra, Bajaj Finance, Apollo Hospitals and UPL are the top laggards on the NSE Nifty 50 and have each tanked over 2% during the intra-day trade on Thursday.
11:11 (IST) 26 Oct 2023 Sectoral indices trade in red
The sectoral indices are trading in the red during intra-day trade on Thursday. Realty, Media, and PSU Bank stocks are the top laggards and have each tanked over 2%.
10:31 (IST) 26 Oct 2023 IRM Energy sees lacklustre debut on bourses
IRM Energy shares listed a 5.49% discount over the IPO price amidst weak market sentiments. On the NSE, the stock debuted at Rs 477.25, compared to the Rs 505 issue price, while on the BSE, it listed at Rs 479
10:03 (IST) 26 Oct 2023 Market Statistics
(Source: NSE)
09:26 (IST) 26 Oct 2023 Nifty falls below 19000
The NSE Nifty 50 tumbled 0.77% to 18,975.45, while the Sensex shed 457.30 to 63,591.76, during the early trade on Thursday.
09:19 (IST) 26 Oct 2023 Markets at open
The NSE Nifty 50 opened at 19,027.25 down 0.49%, while the BSE Sensex opened at 63,774.16 down 274.90 points.
09:11 (IST) 26 Oct 2023 Derivative outlook
“Nifty weekly contract has highest open interest at 19,500 for Calls and 19,000 for Puts while monthly contracts have highest open interest at 19,500 for Calls and 19,000 for Puts. Highest new OI addition was seen at 19,200 for Calls and 18,950 for Puts in weekly and at 19,200 for Calls and 18,950 for Puts in monthly contracts. FIIs increased their future index long position holdings by 3.11%, increased future index shorts by 2.39% and in index options by 35.84% in Call longs, 18.92% in Call short, 24.93% in Put longs and 2.26% in Put shorts,” said Anand James, Chief Market Strategist at Geojit Financial Services.
09:08 (IST) 26 Oct 2023 Market outlook
“There is risk-off in global equity markets triggered by a combination of economics and geopolitics. The Israel-Hamas conflict continues to be a major headwind for markets. If the conflict lingers for long it has the potential to impact global growth,too, when the global economy is already in the midst of a slowdown. In the near-term, however, the strongest headwind for the market is the stubbornly high US bond yields. With the 10-year bond yield at near 5% FPIs are likely to be in the sell mode. Sectors like banking and IT which constitute the largest segments of the AUM of FPIs are likely to be under pressure. This will provide opportunities for long-term investors to buy quality stocks, particularly in banking, at attractive rates,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
09:06 (IST) 26 Oct 2023 USD-INR
“The USD/INR 27 October futures contract traded within a narrow range. Upon analyzing the daily technical chart, it’s evident that the pair is currently trading below its moving average trend-line support level of 83.20, and the MACD is indicating a negative divergence. The technical setup reveals that the RSI is above the 50-level mark, but the pair is encountering significant resistance between 83.30 and 83.45.Based on the daily technical chart, the pair finds support at 83.05-82.92 and faces resistance at 83.30-83.45. To demonstrate further strength, the pair must breach and sustain a level above 83.22. Otherwise, it is likely to continue moving within the range of 82.92 to 83.45,” said Rahul Kalantri, VP Commodities, Mehta Equities.
08:55 (IST) 26 Oct 2023 Gold movement
“Gold prices inched higher on the back of the Middle-East dispute which kept kept investors worried, with bullion standing firm despite a stronger US dollar and bonds yields. Israel kept up its strikes on Hamas targets in Gaza as it prepared for a ground invasion and world powers at the United Nations failed to secure plans to deliver critical humanitarian aid. Yesterday, initial reports suggested that Israel was ready to wait for the Gaza invasion however soon it was discovered that Israel was preparing it’s troops for ground invasion. The dollar and benchmark US 10-year Treasury yields climbed after data indicated that new-home sales surged to a 19-month high in September, affirming market expectations of prolonged high rates heading into 2024. As we near the next Fed meet it is also important to keep an eye on comments from Fed Governor and other officials. Investors await the US GDP numbers for the third quarter later in the day and the PCE price index on Friday ahead of the Federal Reserve’s rate decision next week. Focus will also be on the ECB interest rate decision where the expectations is that the central bank could keep the rate unchanged, snapping a 15 month hike streak,” said Manav Modi, Analyst- Commodity and currency, Motilal Oswal Financial Services.
08:53 (IST) 26 Oct 2023 Market outlook
“The stock market at Dalal Street is currently gripped by bearish sentiment due to various factors. Tumbling oil prices haven’t diverted attention from rising US bond yields, and even diplomatic efforts to quell conflicts in the Middle East go unnoticed. Foreign Institutional Investors (FIIs) have been selling significantly in October, and concerns about inflation and recession persist. Nifty’s major support is at 18,921, while Bank Nifty faces downside risks at 41,500. Nifty’s options data suggests a trading range of 18,900-19,500. Amidst this, Q2 results are expected today from companies like ACC, Asian Paints, Canara Bank and more. The preferred trade strategy for Nifty is to buy on dips between 18,950-19,000 with targets at 19,379-19,557, while for Bank Nifty, buying between 42,500-42,600 is recommended with targets at 43,500 – 44,000,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
08:38 (IST) 26 Oct 2023 F&O Ban
The NSE has added Delta Corp and RBL Bank to its F&O ban list for October 26, 2023.
08:16 (IST) 26 Oct 2023 Crude Oil
WTI crude prices are trading at $85.38 down 0.02%, while Brent crude prices are trading at $89.98 down 0.17%, on Thursday morning.
08:15 (IST) 26 Oct 2023 US Dollar
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded up 0.10% at 106.64.
08:15 (IST) 26 Oct 2023 Wall Street
US stocks tumbled in a broad sell-off on Wednesday as Alphabet shares slid after the Google parent posted disappointing earnings and as US Treasury yields rose, reviving fears that interest rates could stay higher for longer, reported Reuters.
The tech-heavy Nasdaq Composite tanked 318.65 points or 2.43% to 12,821.22. The S&P plunged 60.91 points or 1.43% to 4,186.77, while the Dow Jones Industrial Average dropped 105.45 points or 0.32% to 33,035.93.
