Opening Bell (27 Sep 2018)

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Closing Bell: Sensex ends over 100 pts lower, Nifty holds 11,050; IT, FMCG take a big hit

After a day of relief rally on Tuesday (September 25, 2018), equity benchmarks have closed on a lower note on Wednesday. However, the key, psychological mark of 11,000 has been held by the Nifty. Investors could also be cautious ahead of US Federal Reserve’s decision on interest rates, which will be declared later in the day.

There was major selling seen among information technology names. The likes of TCS, Infosys and Wipro, among others dragged the index lower and managed to weigh on frontline indices as well. Automobiles, consumer and PSU banks were the other big losers. The Nifty Midcap index closed with marginal gains.

All eyes are also on the outcome from the FOMC meeting, which will be announced later in the day. “The outcome of the US Fed meeting on Wednesday is expected to result in another hike in benchmark interest rates, raising the federal funds rate by 25 basis points from its current range of 1.75-2 percent to 2-2.25 percent,” Edelweiss Investment Research has said in a note.

At the close of market hours, the Sensex closed 109.79 points or 0.30% lower at 36542.27, while the Nifty was down 13.70 points or 0.12% at 11053.80. The market breadth is negative as 1,266 shares advanced, against a decline of 1,330 shares, while 197 shares were unchanged.

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Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-over-100-pts-lower-nifty-holds-11050-it-fmcg-take-a-big-hit-2986801.html

Nifty IT underperforms dragged by KPIT Tech; SBI sheds 2%, metals shine

185 stocks have hit new 52-week low including names like 8K Miles Software Services, Dish TV, Finolex Cables, Jet Airways, MEP Infra, Rolta India, Suzlon Energy and Vakrangee among others.

The Indian stock market this Wednesday afternoon continues to remain in the red with the Nifty50 is up down 37 points and is trading at 11,030 while the Sensex is trading lower by 177 point at 36,475.

At 14:40 hrs, the IT index is down close to 2 percent dragged by KPIT Tech, HCL Tech, Tata Elxsi, Oracle Financial Services and Wipro.

The auto index is down 1 percent dragged by Motherson Sumi Systems and Tata Motors which fell 3 percent each, Bosch down 2 percent followed by TVS Motor, Bajaj Auto and Maruti Suzuki.

The FMCG index is down 1.5 percent dragged by ITC which shed 2 percent while Hindustan Unilever is down 1 percent. Tata Global Beverage, Britannia Industries, Godrej Industries and Dabur India are the other losers.

Nifty PSU banks is down 1.5 percent with loses from State Bank of India which shed 2 percent while Andhra Bank is down 1.5 percent.

Metals stocks are however shining led by Hindalco Industries, Jindal Steel & Power, JSW Steel, NALCO, NMDC, Vedanta and Tata Steel.

Nifty realty is the outperforming sector, up 2 percent led by Unitech which jumped 7 percent followed by Godrej Properties and HDIL which added 4 percent each. The other gainers include Oberoi Realty and Indiabulls Real Estate.

The top NSE gainers include names like Indiabulls Housing Finance which jumped 7 percent while UPL, Vedanta and GAIL India are the other gainers.

The top NSE losers are Bharti Infratel, Tata Motors, Wipro, ITC and HCL Tech.

The most active stocks are DHFL, YES Bank, Indiabulls Housing Finance, HDFC Bank and Vedanta.

Biocon, Divis Labs and Monnet Ispat are few stocks which hit new 52-week high this Wednesday afternoon.

On the other hand, 185 stocks have hit new 52-week low including names like 8K Miles Software Services, Dish TV, Finolex Cables, Jet Airways, MEP Infra, Rolta India, Suzlon Energy and Vakrangee among others.

The breadth of the market favoured declines, with 858 stocks advancing, 878 declining and 322 remaining unchanged. On BSE, 1268 stocks advanced, 1273 declined and 174 remained unchanged.

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Source:https://www.moneycontrol.com/news/business/markets/d-street-buzz-nifty-it-underperforms-dragged-by-kpit-tech-sbi-sheds-2-metals-shine-2988561.html

Opening Bell (26 Sep 2018)

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INTERNATIONAL MARKET UPDATE

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NCDEX SUPPORT & RESISTANCE LEVEL (25 SEP 2018)

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MCX SUPPORT & RESISTANCE LEVEL (25 SEP 2018)

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