Sensex, Nifty turns red; pharma, pvt banks
NEW DELHI : Benchmarks turned red after posting early gains. Indian markets will watch the IPO of parent company Paytm One 97 Communications and the results of V-Mart Retail, among others. In addition, Union Trade Minister Piyush Goyal is due to release the Third Multi-State Logistics Facility (LEADS) Report and Aditya Birla’s Fashion and Retail Directorate will hold its call for analysts’ second quarter results after market hours.
Nifty PSU Bank index posts gains of over 1%
The Nifty PSU banking index gained more than 1% thanks to J&K Bank, Union Bank, Canara Bank and Bank of Baroda. SBI is among the brakes on the index.
Sensex, Nifty turns red after opening in green
Sensex was at 59,894.49, down 173.13 points, or 0.29% at 9:51 am, while Nifty was at 17,865.90, down 50.90 points, or 0.28%.
When the markets open: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
The index opened flat and continues to trade in an indecisive fashion. The support for this market is at 17,550-17,600 and as long as we don’t break it on a close basis the trend of the Nifty is positive. On the upside there is resistance at 17,950-18,000. We need to overcome this for a bullish momentum to kick in.
IndusInd Bank is down about 10%
Pharma, pvt banks top drags
Pre-opening of markets: Gaurav Udani, CEO and founder, ThincRedBlu Securities
Nifty is expected to open positively at 17,970, up 60 points. Since the last trading sessions, Nifty has corrected and the charts suggest that it may continue to do so for the next few sessions. It is suggested that traders make profit on every rise and avoid taking further long positions until we get bullish confirmation. Nifty has support in the 17,600 and 17,800 ranges and resistance in the 19,050 and 18,050 ranges.
Sensex heat map
Titan, L&T and ITC were the main winners on the Sensex, while IndusInd Bank, Kotak Bank and Dr Reddy’s were the best at 9:13 am.
Markets are in the green pre-open indicating the opening of the spread. Sensex was up 75 points while Nifty was up 87 points.
Monday Daily Trading Guide
Six stocks to buy or sell today, November 8 (Read here)
Crypto rally raises ether to new high, bitcoin to nearly 3 weeks
Bitcoin hit a two-and-a-half-week peak on Monday and ether hit a new high as cryptocurrencies soar higher on a wave of momentum, flow, favorable news and inflationary fears. Bitcoin was up around 3% to $ 65,121 and the ether, which underpins the ethereum network, was at a record high of $ 4,711. Ether has risen 57% since early October and bitcoin by around 50%, as investors last month applauded the launch of a US exchange-traded fund based on bitcoin and seeking exposure to a class of assets sometimes seen as a hedge against inflation. Falling real yields, as traders brace for inflation, add to the attractiveness of assets like gold and cryptocurrencies that don’t pay coupons, said Kyle Rodda, analyst at the brokerage. IG Markets, adding that the mood in the sector was also good. Reuters
Adani Group pays 2,440 crore yen to AAI to take possession of 6 airports: report
Adani Group made a one-time payment of ??2,440 crore to the Airports Authority of India (AAI) for the six airports that the state-owned airport operator transferred to the Ahmedabad-based company after winning bids for six airports, the Economic Times reported citing sources .
Paytm IPO opens today: GMP, other key details. Do I have to subscribe?
In what is expected to be India’s biggest public issue, Paytm’s ??Parent company One97 Communications’ initial public offering (IPO) of 18,300 crore will be open for subscription today. The price range for the three-day share sale, which ends on November 10, has been set at ??2,080-2,150 per share. Paytm increased ??8,235 crore from key investors before the sale of its shares. (Read here)
Markets likely to be stable; Future shares of the group, IndusInd Bank in focus
The passage by Congress of a long-delayed US $ 1 trillion infrastructure bill has encouraged investors, although a broader social safety net plan remains elusive. (Read here)
Allocation of Nykaa IPO Shares Today: How to Check Application Status Online
The finalization of the allocation base for Nykaa IPO shares is expected to take place on Monday, November 8, 2021. The initial public offering (IPO) of Nykaa’s parent company, FSN E-Commerce Ventures Ltd, which operates an online marketplace for beauty and wellness products, has been subscribed over more than 82 times at the end of the last auction day which was last week. Bidders can check the status of the share award on the Registrar’s website Link Intime India Pvt. Ltd. (Read here)
PNB and Escorts continue to feature on NSE’s F&O ban list
The same two stocks / securities, which were subject to an F&O ban in previous sessions, were placed under ban on trading on Monday, November 8, 2021 in the futures and options (F&O) segment by the Exchange national (NSE). These securities were banned in the M&O segment because they exceeded 95% of the market wide position limit (MWPL), according to the NSE. Public lender Punjab National Bank (PNB) and Escorts continue to be on the F&O ban list for today. Derivatives on the mentioned securities have exceeded 95% of the market-wide position limit and are therefore currently put on blackout by the exchange, NSE said. (Read here)
The FII were net sellers on Thursday
Inox Wind wins a 150 MW power project
Wind power solutions provider Inox Wind has won an order for a 150 MW wind power project from NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Ltd, which will be commissioned in Gujarat. This among many others going forward will help NTPC meet its goal of having over 60 GW of renewable energy capacity constituting nearly 50% of its overall power generation capacity by 2032. The project will be executed on a turnkey basis at the Dayapar site, Kutch district in Gujarat and is expected to be commissioned by April 2023.
Oil climbs as traders assess odds of US stocks release
Oil rose above $ 82 a barrel as traders assessed the chances of a release of crude from the US Strategic Oil Reserve after OPEC + resisted a call from President Joe Biden to increase supplies more quickly. West Texas Intermediate rose 1.1% after jumping 3.1% on Friday, and Brent rose as well. The administration will look at data released Tuesday when assessing measures to contain gasoline prices, Energy Secretary Jennifer Granholm said on Sunday. The Vitol Group, the largest independent oil trader, told Bloomberg on Sunday that OPEC + is unlikely to change its position. The oil rally to a seven-year high has alarmed Biden, who appealed to consumers last week for the Organization of the Petroleum Exporting Countries and its allies to step up the pace of the early shutdown of the supply reactivation of the pandemic. Despite its advocacy, the alliance has chosen to stick to a modest planned hike of 400,000 barrels per day. This raised the possibility of an SPR release, which could be done in coordination with other states. (Read here)
Actions to watch
Future Retail, IndusInd Bank and DLF are among the stocks to watch. (Read here)
Equities remain stable against the US CPI; treasury bills plunge
Stocks in Asia were flat on Monday as investors monitored the impact of price pressures on monetary policy and the pace of economic recovery. Treasury yields reduced their slide. Stocks in Japan were little changed and fell in Hong Kong and South Korea. US futures fell after all major US equity benchmarks hit record highs on Friday, with the S&P 500 recording its fifth consecutive weekly rally. This was after a larger-than-expected and widespread payroll gain in the United States, which also showed an increase in average hourly earnings. Australian bonds rallied after the 10-year US Treasury yield fell below 1.5%. Markets will be watching a US consumer price reading closely this week. The dollar rose and the yen slipped. Shares in China have fluctuated as the Communist Party meets for the first time in more than a year this week. The rally is expected to lay the groundwork for an extension of the tenure of President Xi Jinping, who rocked the markets with his “common prosperity” campaign to redistribute the country’s wealth. earnings season despite higher inflation and grunts in the supply chain. Federal Reserve Bank of Kansas City President Esther George said the risk of a prolonged period of high inflation has increased and that the argument for patience has waned.
S&P 500 futures slipped 0.2% at 10:45 am in Tokyo. The S&P 500 rose 0.4%
Futures on the Nasdaq 100 fell 0.3%. The Nasdaq 100 rose 0.1%
The Topix index was stable
Australian S & P / ASX 200 index fell 0.3%
The Kospi index fell by 1.1%
Hang Seng index fell 0.6%
Shanghai Composite Index
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- September 18, 2021