Stock Market Highlights 19 Sept 2022: Nifty ends near 17,650, Sensex up around 300 points; M&M, Bajaj Finance top gainers
Stock Market Today 19 Sept LIve Updates: The domestic equity market ended higher by around half per cent amid volatility on Monday.
Stock Market latest updates: The domestic equity market ended higher by around half per cent amid volatility on Monday. The broader Nifty50 closed above 17,600, while the Sensex added around 300 points to settle above 59,100. Nifty Midcap ended flat in the broader market, while, small cap index dropped almost one per cent. Nifty PSU Bank was the top gainer among sectoral indices. Nifty FMCG and Auto were other notable gainers. Metal, Consumer Durables and Realty indices ended in the red.
Among stocks, Mahindra & Mahindra, Bajaj Finance, SBI LIfe and State Bank of India were among top gainers, while Tata Steel, Tata Motors, Powergrid and NTPC were among top laggards on Monday.
Latest Updates
Stock Market Closing 19 Sept
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.
Nifty, Sensex top gainers and losers on 19 Sept
Mahindra & Mahindra, Bajaj Finance, SBI LIfe and State Bank of India were among top gainers, while Tata Steel, Tata Motors, Powergrid and NTPC were among top laggards on Monday.
Nifty Bank near 40,800
The 12-share Nifty Bank slipped below 41,000-mark to trade above 40, 800 even as Nifty PSU Bank rose almost two per cent
Demat account holders ALERT: Do THIS before September 30 else your account will be 'locked'
The two-factor authentication for Demat accounts will come into effect from October 1. According to a notification issued by the National Stock Exchange (NSE) in June, Demat account holders need to enable the two-factor authentication by September 30 to continue using their accounts. Those failing to enable the two-factor authentication won't be able to access their accounts. Full Report
Stock Market Update Today: Nifty Midcap in green
Nifty Midcap swung into green in the afternoon session after declining by more than half per cent in the early trade on Monday. Nifty Smallcap remained under pressure and traded lower by 0.40%
Escorts Kubota share price hits 52-week high
Shares of tractor manufacturer Escorts Kubota hit 10% upper circuit on Monday. Escorts Kubota share price rose 10% in BSE intraday trade to hit 52-week high of Rs 2,122.85 a share on Monday. The surge in stock price was backed by a spurt in volume of more than seven times.
Natural gas prices continue to decline - Reasons decoded by Zee Business analyst
Natural gas prices continue to drop in the global market on Monday morning. While all the commodities are under pressure today, natural gas in the energy complex is worst affected. Last week it registered a downfall of around 7% and the trend continues even this week. Full Report
ICICI Bank top gainer on BSE
ICICI Bank, Reliance Industries and Infosys were top volume gainers on the BSE. With 81,54,979 total tradable quantity worth Rs 741.31 crore, ICICI Bank stood the leading gainer on Monday.
OYO IPO plan revived: Company files addendum with SEBI
OYO's share of the total addressable market in its core growth markets was less than one per cent creating significant opportunities for it to grow its footprint. OYO has significant opportunities as 88 per cent of global hotels are in the unorganised space. Full Report
Nifty PSU Bank jumps 2.5%, Nifty Bank above 41,000
Nifty PSU Bank, which gained more than 2.5%, was leading the rally on Dalal Street after the market opened weak on Monday. Nifty Consumer Durables, Metal, Pharma and Healthcare traded in the red around 12 pm. Meanwhile, Nifty Bank, which recently hit its fresh high, gained more than half per cent to trade above 41,000 mark
Oil stocks in focus: HPCL, BPCL, ONGC, others gain after govt cuts windfall tax on domestic crude
Oil and gas stocks rose in a weak market on Monday after the government slashed windfall tax on domestic crude oil and exports of Aviation Turbine Fuel (ATF). Reacting to the development, major oil and gas stocks gained between half per cent to three per cent in early trade. Hindustan Petroleum Corporation Ltd (HPCL) share price rose three per cent in early trade to Rs 236.40 a share on the BSE. Similarly, Oil and Natural Gas Corporation Ltd jumped around two per cent to trade at 134.25 a share on the BSE. BPCL and Reliance Industries gained around half per cent each to Rs 324.45 and 2512.95 respectively. Full Report
Sanjiv Bhasin Today picks on Zee Business: BUY stocks - Godrej Properties, Godrej Consumer Products - check share price targets
Sanjiv Bhasin Today picks on Zee Business: Market expert and IIFL Securities Director Sanjiv Bhasin on Monday predicted that the market will remain uncertain till 21st September. Notably, the Federal Reserve will meet to set interest rates on September 20-21. The decision will be announced on September 21. It is expected that the Federal Reserve will go for a 75bps rate hike in the upcoming meeting to bolster the fight against skyrocketing inflation. Full Report
Ambuja Cements share price jumps around 7%, hits 52-week high
Shares of cement and cement products maker Ambuja Cements rose more almost seven per cent in BSE intraday trade on Monday. Ambuja Cements share price traded at new 52-week high of Rs 555.75 per share.
Mahindra Group & Canada-based Ontario Teachers enter into strategic pact with for renewable energy – know details!
The Mahindra Group and Ontario Teachers' on Saturday announced forming a strategic partnership under which they will invest around Rs 4,550 crore to grow future portfolios of Mahindra Susten Private Ltd (MSPL), a renewable energy platform of the former. Full Report
Gold Price Today 19 Sept: Buy zone, sell zone, support for yellow metal today
The US Fed is likely to raise the interest rate by 0.75 per cent at the upcoming meeting this week and this seems to be factored in the market sentiments. However, any move apart from the expectation may trigger volatility in the gold prices. The US Fed’s rate hike is supporting the dollar to recover but it is facing some challenges from the monetary tightening stance of other central banks like ECB, Bank of Japan. The sluggish demand in China has also increased the selling pressure in gold.
Buy Zone Above - 49500 for the target of 49700
Sell Zone Below - 49200 for the target of 49000Dr. Ravi Singh-Vice President and Head of Research-ShareIndia
MCX October Gold and Silver yesterday closed positive at 49380(+0.14%)and December Silver closed at 56720(+0.54%), Bullions chars are looking positive and making bottom at lower levels, Momentum Indicator RSI also indicating the same, So traders are advised to make fresh buy potions in Gold and Silver near given support below:
Gold October Support 49200/49000 and Resistance 49550/49700.
Silver December Support 56200/55700 and Resistance 57200/57700.
Amit khare, AVP- Research Commodities, Ganganagar Commodity Limited
Stock Market Opening on 19 Sept
As benchmark indices opened flat, Nifty Midcap and smallcap trade lower by 0.4% each, all sectoral indices, except PSU Bank and Oil and gas, declined on Monday. Nifty PSU Bank outperformed as it rose nearly one per cent in the opening trade.
Among stocks, ONGC, Bajaj Finserv and Infosys were top gainers and Ultratech Cements, Asian Paints and Tata Motors dragged the market the most in the opening
Rupee Outlook 19 Sept
USD-INR outlook:
Continued stickiness to the 79.60-79.70 region revives fears of sideways moves. We had begun to expect directional moves, or at least expansion in trading ranges, and will continue to expect 80.10-80.30 in the near term, as long as 79.60 holds, and 78.8, if breached.
Anand James - Chief Market Strategist at Geojit Financial Services.
Nifty, Sensex in pre-opening session on 19 Sept
The Indian market declined in the pre-opening session on Monday As Nifty50 slipped below 17,500, while Sensex dropped around 200 points to trade near 58,650
Anil Singhvi's strategy on 19 Sept: Support zone on Nifty is 17400-17475, Bank Nifty is 40425-40575
Amid neutral global markets, negative foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), positive future and options (F&O) and neutral sentiment, the short-term trend of the Indian market will remain positive on Monday, September 19, said Zee Business Managing Editor Anil Singhvi. Full Report
Near term texture of the market has turned weak
The near term texture of the market has turned weak and the buy on dips strategy is unlikely to work in the present risk-off global environment. FIIs turning sellers is a short-term negative. The market is likely to take a decisive trend only after the Fed policy announcement on 21st September. The market expects the Fed to raise rates by 75bp and reiterate its hawkish stance. But since the market is going into the event with light positions and no positive expectations any positive data or comment may act as a trigger for a relief rally after the Fed announcement. Bank Nifty will continue to be the pillar of support for Nifty and near-term sentiments are negative for IT despite reasonable valuations. The situation is very fluid and therefore it would be better for investors to wait and watch till the Fed meeting is over."
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
ONGC wants govt to scrap windfall tax, USD 10 gas price
India's top oil and gas producer ONGC wants the government to scrap windfall profit tax levied on domestically produced crude oil and instead use the dividend route to tap into bumper earnings resulting from surge in global energy prices. The firm also favours a floor price for natural gas at USD 10 per million British thermal unit -- the current government-dictated rate -- to help bring deposits in challenging areas to production, two sources aware of the matter said. State-owned Oil and Natural Gas Corporation (ONGC) management during discussions with government officials stated that levying windfall profit tax on domestic oil producers, while at the same time reaping rich savings from buying discounted oil from Russia was unfair.
Buying discounted Russian crude oil, which was shunned by the West since the Ukraine conflict, has helped save Rs 35,000 crore and this savings should be ploughed back by boosting domestic output, they said. PTIPSU banks clear digital lending worth Rs 83,091 crore in FY 2021-22
As part of EASE 4.0 reforms, state-owned banks were asked to focus on digital lending, co-lending with non-banking firms, agriculture financing, and technological resilience for 24x7 banking. Full Report
Nifty, Bank Nifty support and resistance
Technically, Nifty is facing resistance around 18100 level and forming a kind of double top formation. It has slipped below its 20-DMA which is a sign of caution. On the downside, 17500/17300 are immediate and strong support levels while 17150-17000 is a sacrosanct demand zone at any meaningful correction. 17150 is a previous swing low while 17000 is a 200-DMA for the Nifty.
Banknifty witnessed a profit booking after hitting a fresh all-time high of 41840 but managed to end above 9-DMA of around 40500. If it manages to hold the 40500 level then its outperformance will be continued while if it slips below 40500 then 39700 will be the next important support level.Derivative data
If we look at derivative data then the put-call ratio has slipped to an oversold level of 0.76 therefore there is a probability of a bounceback from the 17500-17300 zone. Short positions of FIIs in the index future are also at the low level of 28% therefore we have a scope of short covering.
Santosh Meena, Head of Research, Swastika Investmart Ltd.
Stocks to buy today: 20 stocks for profitable trade on 19 Sept
Zee Business brings you a list of 20 stocks from cash, techno, and F&O space. These stocks have been picked keeping in view investors' short-to-long term requirements. The list also comprises intraday calls for good returns on a given day. Below is the list of stocks. Full Report
FIIs data on Friday 16 Sept
Foreign portfolio investors (FPIs) remained net sellers for Rs 3260.05 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 36.57 crore, provisional data showed on the NSE.
Triggers for this week and stock market outlook
Nervous global markets are waiting for the FOMC meeting to provide further direction.
Indian equity markets witnessed profit-taking after the Nifty crossed the 18000 mark and the Banknifty hit a fresh all-time high as global cues were not supportive at all. We were showing resilience despite weak global cues but we can't remain isolated for long. As a result, traders booked out some profit over the weekend. The global markets are looking nervous after US inflation numbers, which have caused the dollar index to hover around 110. US 10-year bond yields are at a multiyear high of 3.5%, and now everyone eyeing the outcome of the upcoming US FOMC meeting, which is scheduled for September 22nd. On the same day, the Bank of England will announce its interest rate decision. Apart from this, the institutional flows will play a critical role because foreign investors have turned sellers after continuous buying for the last month. Domestic institutional investors are also showing some reluctance at higher levels.-
Santosh Meena, Head of Research, Swastika Investmart Ltd.
Stocks in news 19 Sept
There will be several stocks in news today. Among them are MCX, Gujarat Narmada Valley Fertilisers and LIC Housing Finance which will start trading ex-dividend today. Watch Video to know about other stocks that will remain in focus today
Asian markets trade mixed; Tokyo exchange closed
Meanwhile, Asian markets traded in the mixed on early Monday as Hang Seng Index at the Hong Kong Exchange dropped nearly half per cent, while Chinese Shanghai Composite gained 0.25% in early trade on Monday. Meanwhile, there was no trading seen on Japanese Nikkei 225 to mark respect for the Aged Day
SGX Nifty on Sep 19
Though SGX Nifty traded in the green, but remained below 17,600. The index gained over 25 points to trade near 17590 in the early trade on the Singaporean exchange on Monday
US market closing on 16 Sept
Dow Jones Industrial Average dropped 139.40 points, or 0.45%, to close at 30,822.42. The S&P 500 shed 0.72% to end the week at 3,873.33. The Nasdaq Composite slid 0.90% to finish at 11,448.40. It was the worst week for the S&P 500 and Nasdaq since June.
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