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Stock Market Highlights: Sensex, Nifty end at record closing high led by metal, auto, energy stocks; RIL top gainer

Stock Market Highlights: Sensex, Nifty end at record closing high led by metal, auto, energy stocks; RIL top gainer

Stock Market Highlights: Sensex, Nifty end at record closing high led by metal, auto, energy stocks; RIL top gainer
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Stock Market Highlights: The Indian equity benchmark indices, Sensex and Nifty ended at record high levels on Friday led by strong gains in metals, energy and auto stocks. Broader markets supported the upmove with the Nifty Midcap 100 and Smallcap 100 indices closing in the green. Among sectors, oil & gas, metals, automobile and realty indices saw the most gains, while Nifty Financial Services and Nifty FMCG ended in the red.

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Sept 3, 2021 4:45 PM

Ajit Mishra, VP - Research, Religare Broking

Markets ended with gains of nearly half a percent amid volatility. We remain cautiously optimistic on the markets and suggest focusing on identifying stocks as we’re seeing selective participation now. Going ahead, along with global markets, participants would keep a close watch on domestic macroeconomic data i.e. CPI, IIP for cues.

Sept 3, 2021 4:44 PM

Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty gained 3.7 percent over the week, its second consecutive weekly gain and the largest in 7 months. The broader market however swings from negative to positive to even - day after day as investors try to find a clue about the direction of the mid and smallcaps even as the largecaps are back in favour of institutions – both foreign and local. Nifty could take support from 17,153 while 17,480 could act as a resistance in the near term.

Sept 3, 2021 4:36 PM

Market This Week | 47 of 50 Nifty stocks give +ve returns; Shree cement, Bharti, Titan top gainers.

Sept 3, 2021 4:32 PM

Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities

Buying action continued as positive global markets are helping the sentiment to remain bullish in local markets. Benchmark Sensex touched a new high to close above 58,000-mark while Nifty sustained above the psychological 17,000 level. Technically, the index has formed a strong bullish candle on weekly charts which is broadly positive. On daily and intraday charts, it also maintains a breakout continuation formation indicating further uptrend from current levels. While the short-term trend remains positive, some profit booking could be in the offing as traders may prefer to book some profits near the 17,500 resistance level.

For the trend following traders, 17,150 and 17,000 could be the important support level while on the flip side, 17,500 and 17,700 could act as an important resistance level for the market. In the meantime, on weekly charts, the bank Nifty has formed a range breakout formation, suggesting further upside if the index succeeds to trade above 36,000.

Sept 3, 2021 4:30 PM

Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities

What a change in weather in USDINR. After being in range for over 2 months, between 74.10 and 75.00, USDINR was slammed lower, towards 73.00 levels this week, on the back of weak $ Index and rising equity markets. After a bland speech from US Fed chairman, Mr. Powel in Jackson Hole, where he dragged his feet on raising interest rates or announcing taper, USDINR came under selling pressure. This trend may not reverse soon, as traders shy away from USD and own emerging market currencies like the Indian Rupee.

Next week is going to be data light and hence the downward bias will continue in USDINR, barring any unexpected sell-off in stocks. However, with USDINR back near 73.00, the tussle between the market and RBI is fully underway. The market wants to know where will RBI draw the line and intervene aggressively? We would continue to look for selling opportunities as upside may remain capped under 73.50 levels on Sept future.

Sept 3, 2021 4:22 PM

Rupee At Close | The Indian rupee ended marginally higher at 73.02 per US dollar against the previous close of 73.06 per dollar amid strong buying in he domestic equity market.

Sept 3, 2021 4:16 PM

Joseph Thomas, Head of Research, Emkay Wealth Management

Sensex has gone past 58,000 to close the day at 58,128, and the Nifty too comfortably rose to 17,323. The rise was witnessed across market caps and sectors, though the uptick in midcaps and small caps was a bit muted. The improving general pandemic conditions, the GDP number indicating a continuing revival in economic activity, the increased confidence in facing a potential third wave, the stress on universal vaccination, and finally, the indications from Jackson Hole address by the Fed Chief that tapering off may start as early as later this year but rate hikes may happen much later next year, are the factors which supported the rally in the markets. The developments around the US economy, the revival of activity in Europe - both in the face of rising numbers of fresh infections -would also be factors that would matter in the coming week.

Sept 3, 2021 4:10 PM

Sachin Gupta, AVP – Research, Choice Broking

The Nifty index again breached the immediate resistance of 17,250 and settled above it. Overall, the index is in momentum with bullish strength. Moreover, the index has given a Rising Trendline breakout on a weekly chart, which indicates further robustness in the counter. All the key indicators like RSI, MACD & Stochastic are supporting the positive trend in the index. Hence, market sentiments remain bullish along with the volatility. At present, the psychological level of 17,500 could be a resistance while on the downside, 17,100 may act as support for the index.

Sept 3, 2021 4:02 PM

Manish Shah, Founder, Niftytriggers.com

On the daily time frame, Nifty will now face resistance at 17,576-17,516 as a confluence of weekly and monthly pivots are seen at this zone. On the lower side, the support is at 17,120-17,100. Nifty will continue to trade higher as long as support at 17,120-17,100 is intact. MACD on the daily time frame is in a buy mode. Adx, a part of the directional movement system is showing bullish readings and there are more upsides in the Nifty system. Expect more upside in Nifty in the days to come towards 17,576-17,516.

Sept 3, 2021 3:54 PM

Market At Close | Reliance Industries lead Sensex & Nifty to record highs. 

Sept 3, 2021 3:46 PM

Market This Week | Here’s how the market performed this week

-Nifty Gains 3.7% To Post The Biggest Weekly Gain Since Budget Week In Feb

-Sensex Rises 3.6%, The Biggest Weekly Gain In Last Three Months

-Nifty Bank Gives Positive Returns For 2nd Straight Week, Up Over 4% In 2 Weeks

-Midcap Index Rises For 5th Straight Week, Up 0.5% This Week

-47 Of 50 Nifty Stocks Give +ve Returns; Shree Cement, Bharti, Titan Top Gainers

-IEX, Voda Idea, Exide, Polycab, Havells, IndiaMART Top Midcap Gainers This Week

Sept 3, 2021 3:40 PM

Market At Close | Here are the highlights of today’s trading session

-Reliance Industries Leads Sensex & Nifty To Record Highs

-Reliance Contributes 80% To Nifty’s Gain Of 89 Points Today

-Sensex Rises 277 Points To 58,130 & Nifty 89 Points To 17,324

-Nifty Bank Falls 70 Pts To 36,761 With HDFC Bank Being Top Contributor

-Midcap Index Gains 143 Points To Closes At A Record High Of 29,060

-Reliance Ends At A Record High With Market Cap Back Above Rs 16 Lakh Cr

-8 Nifty Stocks Including Asian Paints, Britannia Hit Fresh Life Highs

-Autos Rise Despite Chip Concerns, Maruti, Bajaj Auto Top Gainers

-Bharti Airtel Snaps 5-day Gaining Streak, Down Over 1%

-Financials Underperform; HDFC Bank, Axis & IndusInd Top Losers

-HDFC Life Falls 3% Following Exide Life Acquisition; Exide Rise 6%

-ONGC Amongst Top Nifty Gainers As Crude Prices Rise Further

-Oil Marketing Cos Gain In Friday’s Session Too; IOC, BPCL Up Over 2% Each

-Nalco Surges 5% Ahead Of Board Meeting On Dividend

-Market Breadth Neutral With Advance-Decline Ratio At 1:1

Sept 3, 2021 3:39 PM

Closing Bell |  The Indian equity benchmark indices ended at record high levels on Friday led by strong gains in metals, energy and auto stocks. The Sensex jumped 277.41 points, or 0.48 percent, to end at 58,129.95, while the Nifty rose 89.45  points, or 0.52 percent to close at 17,323.60. Broader markets supported the upmove with the Nifty Midcap 100 and Smallcap 100 indices closing in the green.

Among sectors, oil & gas, metals, automobile and realty indices saw the most gains, while Nifty Financial Services and Nifty FMCG ended in the red. Reliance Industries, ONGC, Coal India, Titan Company and IOC were the top Nifty50 gainers, while HDFC Life, Cipla, Bharti Airtel, HUL and HDFC Bank were the top index losers.

Sept 3, 2021 3:36 PM
Sept 3, 2021 3:26 PM

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