INTERNATIONAL MARKET UPDATE

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MCX SUPPORT & RESISTANCE LEVEL

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Nifty hovers around 11,000, Sensex up 100 points; metal underperform

Equities have staged some recovery and are trading in the green. The Nifty is trading flat, while the Sensex is up around 50 points. 

The Sensex is up 46.46 points or 0.13% at 36370.63, while the Nifty up 2.60 points or 0.02% at 10980.10. The market breadth is negative as 637 shares advanced, against a decline of 1,508 shares, while 116 shares are unchanged.

HDFC, SBI, and GAIL are the top gainers, while Yes Bank, Tata Steel, and Indiabulls Housing have lost the most. 

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Opening Bell (28 Sep 2018)

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Closing Bell: Nifty ends September series below 11,000, Sensex down over 200 points; banks drag

It’s a negative close for Nifty in September series and it has ended below 11,000-mark as well. The Sensex concluded the session over 200 points lower.

There was selling across sectors, with maximum cuts visible among banks, automobile, infrastructure, metals and pharmaceuticals. Weakness in the midcaps space also weighed on benchmarks as Nifty Midcap ended over 2 percent lower.

At the close of market hours, the Sensex closed down 218.1 points or 0.6% at 36324.1, while the Nifty was lower by 76.3 points or 0.6% at 10977.5. The market breadth is negative as 767 shares advanced, against a decline of 1,793 shares, while 167 shares were unchanged.

Shares of Tata Consultancy Services (TCS), Infosys, and Bharti Infratel were the top gainers, while Yes Bank, Maruti, and Indiabulls Housing have lost the most.

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Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-september-series-below-11000-sensex-down-over-200-points-banks-drag-2990711.html

Indian rupee trades flat around 72.60 per dollar

The Indian rupee erased all its morning gains and trading flat at around 72.60 per dollar.

It slipped more than 30 paise intraday from day's high of 72.38 per dollar.

On Wednesday, the rupee ended with a gain of 8 paise at 72.61 against Tuesday' close 72.69 per dollar.

The Indian rupee has become Asia's worst performer losing over 13 percent of its value in 2018 breaching new highs against the dollar on rising crude oil prices and falling emerging market currencies and there seems to be no end to it, said Shreyansh N Mehta, Manager Equity Research at AUM Capital Market

Though, the Indian currency recovered some lost ground on suspected dollar sales by the Reserve Bank of India but there are still dark clouds in the sky as fears of escalating trade war could further hurt the global market sentiments and growth.

Not to forget, the massive liquidation by the foreign investors and political uncertainty around 2019 general elections in India will further put pressure on rupee. So, as of now, rupee will maintain this downward trend approaching fast towards 74–75 levels and will create a threat on the economy as a whole, he added.

Rupee consolidated in the range of 72.60 and 73 for the third successive sessions but, today, is expected to open higher against the US dollar after the government announced to raise import tariff on some non-essential items. Government decided to raise import tariffs on 19 “non-essential items,” marking a further tilt toward protectionism as it tries to reduce its widening current account deficit and tackle a sharp slide in the rupee, said Motilal Oswal.

The total value of imports of the 19 items in last fiscal year ended March was about USD 11.84 billion. Today, USD-INR pair is expected to quote in the range of 72.40 and 73, it added.

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Source: https://www.moneycontrol.com/news/business/markets/indian-rupee-trades-flat-around-72-60-per-dollar-2990761.html

Sensex, Nifty turn negative ahead of F&O expiry; Nifty Midcap falls over 1%

Among sectors, banks are trading in the red, while IT and pharmaceuticals are trading higher.
Rupee Update: Indian rupee erased all morning gains and trading marginally lower at around 72.63 per dollar.

Shares are trading marginally higher after seeing a negative move in the first few minutes of trade. The Nifty is trading around 11,050, while the Sensex is trading flat.

The Sensex is up 39.87 points or 0.11% at 36582.14, while the Nifty is higher by 4.00 points or 0.04% at 11057.80. The market breadth is narrow as 923 shares advanced, against a decline of 697 shares, while 68 shares were unchanged.

Asian Paints, Vedanta, Titan and UltraTech Cement were the top gainers, while Yes Bank, HDFC, Indiabulls Housing and Bajaj Finance have lost the most.

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Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-sensex-nifty-turn-negative-ahead-of-f-nifty-midcap-falls-over-1-2990711.html