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September 07, 2021 / 04:10 PM IST

Closing Bell: Market ends flat amid volatility; IT, realty top drag

Among sectors, except FMCG, all other sectoral indices ended in the red with oil & gas, IT and Realty indices down 1-2 percent. The BSE midcap and smallcap indices ended in the red.

  • IndexPricesChangeChange%
    Sensex58,461.29776.50 +1.35%
    Nifty 5017,401.65234.75 +1.37%
    Nifty Bank36,508.25143.35 +0.39%
    Nifty 50 17,401.65 234.75 (1.37%)
    Thu, Dec 02, 2021
    Biggest GainerPricesChangeChange%
    Adani Ports739.1031.15 +4.40%
    Biggest LoserPricesChangeChange%
    Cipla921.25-6.90 -0.74%
    Best SectorPricesChangeChange%
    Nifty IT36157.85728.95 +2.06%
    Worst SectorPricesChangeChange%
    Nifty Bank36508.25143.35 +0.39%


  • September 07, 2021 / 04:11 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas:

    In the case of Nifty, the initial dip on September 7 found support near the 20 hour moving average & lower end of a rising channel on the hourly chart. Thereon the index attempted a bounce however faced resistance near the hourly upper Bollinger Band & slid down again towards the end of the session to break the lower channel line. At the end of the day, the index formed a bearish outside bar on the daily chart. Also, the daily chart shows that the index is forming a distribution for the last couple of sessions near upper end of a multi week rising channel. 

    Structurally, the Nifty is stepping into a short term consolidation & is poised to take dip towards the lower end of the rising channel, which is near 17000. Hence, 17000-17500 is expected to be the short term range for the Nifty.

  • September 07, 2021 / 04:06 PM IST

    Ajit Mishra, VP - Research, Religare Broking:
     
    Nifty traded volatile in a range and settled marginally lower, taking a pause after the recent surge. Amongst sectors, IT and banking were laggards whereas telecom, FMCG, and consumer durables ended with gains. The broader markets also witnessed profit taking and ended lower.
     
    In absence of any major event, global cues would continue to dictate the trend. Indications are in the favour of some consolidation or profit taking thus we recommend maintaining extra caution in stocks selection. On the benchmark front, Nifty has immediate support around the 17,200-17,250 zone. 

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  • September 07, 2021 / 03:59 PM IST

    Mohit Nigam, Head - PMS, Hem Securities:

    On the technical front, the market is witnessing a continuous positive trend and it has sustained well above 17,300-350 levels and we believe this up move will extend till 17500 level in the short term. On the downside 17,100 is the immediate support in Nifty 50 followed by 16,900.

  • September 07, 2021 / 03:56 PM IST

    Sachin Gupta, AVP-Research at Choice Broking:

    The benchmark index recovered its early losses and set an all-time high at 17436.50 levels on Tuesday's session. The nifty50 settled at 17357.45 levels while the Bank Nifty ended at 36468.80 levels with 0.3% losses. 

    Technically, the Index has been trading in Higher High & Higher Low formation, which suggests strength in the counter. On an Hourly Chart, the Index has been finding resistance from the upper band of Bollinger crossing above the same can show further upside movement. All the key indicators like RSI, MACD & Stochastic are supporting the positive trend in the index. At present, the psychological level of 17500 could be a resistance while on the downside, 17200 may act as support for the index.

  • September 07, 2021 / 03:42 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    The domestic market traded with high volatility as investors locked in gains from the recent rally & global factors. However, the broad market maintained its buoyancy in segments, which are bound to benefit from unlocking. European shares traded with cuts ahead of the European Central Bank’s policy meeting on Thursday, where talks regarding the tapering of asset purchase program are likely to take place in the backdrop of rising eurozone inflation.

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  • September 07, 2021 / 03:34 PM IST

    Market Close: Benchmark indices ended marginally lower amid volatility on September 7 after hitting record levels intraday.

    At close, the Sensex was down 17.43 points or 0.03% at 58279.48, and the Nifty was down 15.70 points or 0.09% at 17362.10. About 1296 shares have advanced, 1810 shares declined, and 137 shares are unchanged.

    BPCL, Sun Pharma, Tech Mahindra, Wipro and Axis Bank were the top Nifty losers. Bharti Airtel, HDFC, Grasim Industries, ITC and IndusInd Bank were among the top gainers.

    Among sectors, except FMCG, all other sectoral indices ended in the red with oil & gas, IT and Realty indices down 1-2 percent. The BSE midcap and smallcap indices ended in the red.

  • September 07, 2021 / 03:30 PM IST

    Cabinet may approve PLI scheme for MMF, technical textiles on Sept 8

    The Union Cabinet is likely to approve on Wednesday a production linked incentive (PLI) scheme for man-made fibre segment and technical textiles with a financial outlay of Rs 10,683 crore over five years to boost domestic manufacturing and exports from the sector, an official said.

    The proposal is expected to come up before the Union Cabinet meeting on Wednesday, the official added.

  • September 07, 2021 / 03:24 PM IST

    Ashis Biswas, Head of Technical Research at CapitalVia Global Research:

    The market witnessed some volatile movements and an attempt to hold the level around the Nifty 50 Index level of 17,300. If the market sustains above the level of 17,200-17,250, it is expected to gain momentum, leading to an upside projection till 17,400-17,450 level. 

    The momentum indicators like RSI and MACD to stay positive and market breadth to improve, further strengthening a short-term bullish outlook.

  • September 07, 2021 / 03:20 PM IST

    Gold slips as uptick in yields, dollar dent appeal

    Gold prices fell on Tuesday, retreating further from a 2-1/2 month peak hit last week, as a firmer dollar and a rise in US Treasury yields dented demand for safe-haven bullion.

  • September 07, 2021 / 03:16 PM IST

    International Conveyors sells stake in Elpro International

    International Conveyors sold 1,34,80,000 equity shares representing 7.95% equity capital of M/s. Elpro International out of total investment of 2,69,60,077 equity shares at a price or Rs 55 per share amounting to Rs 74.14 crore. 

    International Conveyors was quoting at Rs 75.55, up Rs 2.15, or 2.93 percent on the BSE.

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  • September 07, 2021 / 03:12 PM IST

    Nifty IT index shed 1 percent dragged by the Wipro, Coforge, Mphasis

     Nifty IT index shed 1 percent dragged by the Wipro, Coforge, Mphasis
  • September 07, 2021 / 03:05 PM IST

    European shares trade below record highs

    European stocks hovered below record highs on Tuesday as caution ahead of a European Central Bank meeting later this week offset gains in the telecom sector following Deutsche Telekom deals.

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