Nifty above 10,650, Sensex up 200 pts; realty stocks in focus

Market Opens: It is strong start for the indices on Wednesday with Nifty trading above 10,650 level.

At 09:17 hrs IST, the Sensex is up 196.95 points at 35549.56, while Nifty is up 63.50 points at 10,667.90. About 595 shares have advanced, 249 shares declined, and 49 shares are unchanged. 

Shriram Trasport, ITI, Yes Bank, Indiabulls Housing, Vedanta, Power Grid, Dr Reddy's Lab, Grasim, Bajaj Finserv, are among major gainers, while losers include Zee Entertainment, Reliance Capital.

All the sectoral indices are trading in green led by realty, energy, metal, infra, pharma and FMCG.

Rupee Opens: The Indian rupee opened marginally higher at 71.29 per dollar versus Monday's close 71.34.

Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-up-100-pts-in-pre-open-nifty-around-10650-essel-propack-gains-8-3560501.html

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Opening Bell

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Closing Bell: Sensex ends 145 pts lower, Nifty manages to hold 10,600; IT stocks drag

Market at close: Bears dragged the Nifty below 10,600 during last hour trading but managed to close just above the 10,600 level.

At the end, Sensex was down 145.83 points at 35352.61, while Nifty was down 36.60 points at 10604.40. About 1360 shares have advanced, 1169 shares declined, and 122 shares are unchanged.

Wipro, TCS, IndusInd Bank, NTPC and Infosys were the top losers on the Nifty while top gainers include Vedanta, Grasim Industries, BPCL, Zee Entertainment, and JSW Steel.

IT space was a major drag among the sectors followed by pharma and energy, while buying was seen in FMCG, metal and PSU bank index.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-145-pts-lower-nifty-manages-to-hold-10600-it-stocks-drag-3555261.html

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MCX Support and Resistance Levels

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Nifty above 10,650, Sensex up 100 points; Emami rises 5% after stake sale

Market Opens: It is a flat start for the Indian Indices with Nifty hovering around 10650 level.

The Sensex is up 51.90 points at 35550.34, while Nifty is up 15.40 points at 10656.40. About 497 shares have advanced, 249 shares declined, and 37 shares are unchanged. 

Gainers include Jet Airways, Ambuja Cements, Dr Reddy's Lab, Sun Pharma, Grasim, JSW Steel, Hindalco, Emami, while losers are Indiabulls Housing, Wipro, HDFC, Adani Port and IDFC.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-above-10650-sensex-up-100-points-emami-rises-5-after-stake-sale-3555261.html

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Opening Bell

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Closing Bell: Market falls for 7th consecutive day; 5 factors that dragged Sensex over 300 pts

The market fell sharply on first day of the week starting February 18 and continued its downtrend for seventh consecutive session on Monday with the Nifty falling below 10,700-levels, dragged by Reliance Industries, TCS, ITC and HDFC Bank.

Reducing foreign inflows due to fear of escalation of tensions at the border also impacted the sentiment.

The benchmark indices opened flat, but immediately started consolidating. The recent profit-taking phase in private banks and IT majors, which were holding the benchmark indices, are adding to the negatives.

At close, the 30-share BSE Sensex was down 310.51 points at 35,498.44 and the Nifty50 fell 83.40 points to 10,641.

"Contrary to past statistical evidence, Nifty is showing signs of decoupling with the US market. Almost all Asian markets were up today and US too was up on Friday but still Nifty slipped deep in the red. Such decoupling is good in the long-term interest of the Indian markets. The bears have tightened their grip in the market," Umesh Mehta, Head of Research at Samco Securities told Moneycontrol.

Jayant Manglik, President at Religare Broking feels traders have no option but to follow the prevailing bias and prefer hedged positions instead of naked trades.

Source:https://www.moneycontrol.com/news/business/markets/market-falls-for-7th-consecutive-day-5-factors-that-dragged-sensex-over-300-pts-3553541.html

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