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Business News›Nifty forms an indecisive Doji candle on daily chart. What does it signal for tomorrow's trade?
Economic Times | 27 Aug, 2021 | 07.27AM IST
Nifty forms an indecisive Doji candle on daily chart. What does it signal for tomorrow's trade?
Benchmark indices ended flat on Thursday after remaining rangebound for the most part of the session. This was in contrast to high volatility sessions generally observed on the day of expiry of monthly futures and options contracts. Analysts noted that technical charts were hinting at a pause in momentum. Investors globally too were cautious ahead of the US Fed's Jackson Hole symposium, they said. For the day, Sensex stayed rangebound in the 258-point range and eventually closed at 55,949.10, up 5 points. NSE barometer Nifty50 settled Agust F&O series at 16,636.90, up 2.25 points. Midcap and smallcap indices gained half a per cent higher.
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S&P 500 opens slightly lower, taper talks in focus
The S&P 500 and Nasdaq opened slightly lower on Thursday as mixed earnings reports and economic data kept investors on the edge ahead of the Federal Reserve's Jackson Hole policy summit. The Dow Jones Industrial Average rose 44.2 points, or 0.12 per cent, at the open to 35,449.68. The S&P 500 fell 2.4 points, or 0.05 per cent, to 4493.75, while the Nasdaq Composite dropped 16.7 points, or 0.11 per cent, to 15,025.166 at the opening bell.
GIFT City, ANSR join hands for global in-house centres
GIFT City on Thursday said it has collaborated with ANSR to attract companies to set up high-end processing centres related to financial services in the country's only operational IFSC. The two organisations will work together to attract companies to set up Global In-house Centres (GICs) and Global Capability Centres (GCCs) at the Gujarat International Finance Tec-City or GIFT City, according to a statement.
Auto parts industry may see 20-23% jump in revenue during current fiscal: Report
The auto components industry is expected to log 20-23 per cent revenue growth during this fiscal, supported by recovery in the domestic automobile sector and robust exports, with all segments (passenger and commercial vehicles) likely to report healthy double-digit growth in 2021-22, credit ratings agency ICRA said on Thursday.
ESG bonds likely to top $10 billion this year: JP Morgan
Rupee inches 2 paise higher to close at 74.22 against US dollar
At the interbank forex market, the local unit opened at 74.22 against the greenback and moved in a range of 74.11 to 74.27 in the day trade. It finally ended at 74.22 against the American currency, registering a rise of 2 paise over its previous close. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.05 per cent to 92.87.
On BSE, gainers outnumbered losers
Out of the 30 Sensex stocks, 15 advanced while 15 declined
Sensex gyrates 258 pts, ends flat; Nifty also closed flat at 16,637
Volatility gauge India Vix edges higher by 0.29% to 13.54
BSE Midcap index rises by 0.30%; BSE Smallcap index up 0.31%
RIL is the top gainer in the Sensex pack, gaining 1.28%
Bharti Airtel sheds the most among Sensex stocks, loses 4.48%
On BSE, 396 stocks hit their upper circuit limits, while 203 hit lower circuit limits
On BSE, 148 stocks hit 52-week highs; 24 stocks hit 52-week lows
BSE Midcap index rises by 0.30%; BSE Smallcap index up 0.31%
RIL is the top gainer in the Sensex pack, gaining 1.28%
Bharti Airtel sheds the most among Sensex stocks, loses 4.48%
On BSE, 396 stocks hit their upper circuit limits, while 203 hit lower circuit limits
On BSE, 148 stocks hit 52-week highs; 24 stocks hit 52-week lows
Nifty Metal Index slips 1.28%
Price as on 26 Aug, 2021 03:14 PM, Click on company names for their live prices.
HDFC Bank becomes first Indian bank to exclusively list $1 Billion AT1 dollar bonds in IFSC
Gold, silver spot prices
Semiconductor shortage may be big opportunity for domestic auto component cos: SIAM chief
"While the semiconductor shortage appears to be a challenge, it also brings in an opportunity. Of course, semiconductor manufacturing requires very huge investments. The Indian automobile industry alone can-not assure full viability of such an investment in semiconductor projects. Hence, there is a need for consolidation across sectors," SIAM President Kenichi Ayukawa said.
Avenue Supermart shares at fresh high, stock up 40% this year. Market cap crosses Rs 2.5 lakh crore
Price as on 26 Aug, 2021 02:20 PM, Click on company names for their live prices.
Intellect Design wins a multimillion deal win from a leading Islamic Bank in APAC
Price as on 26 Aug, 2021 02:06 PM, Click on company names for their live prices.
The central government's decision to hike the minimum price that mills pay to farmers by Rs 5 a quintal is marginally positive for farmers and farmworkers. But since the government has refused a rise in the price at which mills can sell is a dampener. From the market perspective, sugar stocks undergo cyclical ups and downs. But they were never consistent compounders or long-term wealth creators
- V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
London's FTSE 100 drops as financial, mining stocks weigh
London’s FTSE 100 fell on Thursday, dragged down by heavyweight financials and miners, as investors weighed risks associated with rising global COVID-19 infections and supply chain disruptions. The blue-chip FTSE 100 index fell 0.7% after four straight sessions of gains, with HSBC Holdings, Aviva , Rio Tinto and BHP Group being the top drags.
Jefferies bullish on Nazara Tech with a target price of Rs 2,070
Price as on 26 Aug, 2021 01:07 PM, Click on company names for their live prices.
Sensex, Nifty turn flat amid selling pressure in IT and auto stocks
Affle India approves splitting each share into 5
Price as on 26 Aug, 2021 12:36 PM, Click on company names for their live prices.
Bharti Airtel shares slip 3% to below Rs 600 zone
Spicejet expects to start operations of MAX aircraft around the end of Sep 2021
Price as on 26 Aug, 2021 12:18 PM, Click on company names for their live prices.
Wockhardt jumps 6.5%
Wockhardt's its unit was partnering with China’s Jiangxi Jemincare Group to supply a patented pneumonia antibiotic Nafithromycin in China, Hong Kong, Macau and Taiwan.
Sensex reclaims 56K mark as Reliance rallies 1.5%
Indian economic growth likely touched record high in June quarter: Reuters poll
Seven stocks that helped HNIs make up to 128% return YTD
While calendar 2021 has seen high net worth individuals (HNIs) mostly chase primary market offerings, the risk-taking investors have actively been buying into 11 stocks from the BSE500 for two successive quarters now. Seven of these stocks have beaten the index returns by delivering up to 128 per cent return year-to-date. These include SAIL, IDFC, Dish TV, Ircon International, Dishman Carbogen Amcis and JK Paper.
Investors see no speed bump in Fed's Jackson Hole event
"It does feel like the markets and investors are basically going into this event with more of a neutral stance and not taking any big bets one way or another," said Anders Persson, Nuveen's chief investment officer.
Swan Energy soars 15% as India to import more LNG
Swan Energy has started its floating terminal, raising the country's capacity to ship in the super chilled fuel by 12 per cent to 47.5 million tonnes per annum (mtpa).
Rupee surges 13 paise to 74.11 against US dollar in early trade
How recent debutants are faring
Nifty Auto down 0.2%. Here are the top losers
Price as on 26 Aug, 2021 10:13 AM, Click on company names for their live prices.
Stability in the US market indicates that the market doesn't expect any market-moving announcements from the Fed at the Jackson Hole symposium. Therefore, if the US Fed makes any mildly hawkish statement regarding the normalisation of monetary policy or tapering on August 27, markets may respond negatively to that
- V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Airtel shares down 1.5% in early trade; board to meet Aug 29 on fundraise
Sensex, Nifty back in green zone after weak opening
Intraday Picks from Reliance Securities
Buy Motherson Sumi: For today’s trade, long position can be initiated in the range of Rs 205- 208 for a target of Rs 215 with a strict stop loss of Rs 203.Buy PFC: For today’s trade, long position can be initiated in the range of Rs 124- 125 for a target of Rs 129 with a strict stop loss of Rs 122.Sell Voltas: For today’s trade, short position can be initiated in the range of Rs 965- 971 for a target of Rs.940 with a strict stop loss of Rs 979.
Vijaya Diagnostic IPO to open on Sept 1; price band fixed at Rs 522-531
Hyderabad-based Vijaya Diagnostic is eyeing to raise Rs 1,895 crore through its primary offering. The issue entirely consists of an offer for sale (OFS) by promoters and existing shareholders of the company.
Top gainers and losers in banking pack
Price as on 26 Aug, 2021 09:24 AM, Click on company names for their live prices.
Most Sensex stocks in red
Opening Bell: Sensex sheds 50 points; Nifty at 16,640; Bharti Airtel, SBI drop 1% each
Pre-open session: Sensex gains 200 points, retreats; Nifty flat
SGX Nifty signals negative start
Nifty futures on Singapore Exchange traded 31.5 points, or 0.19 per cent, lower at 16,649.00, signaling that Dalal Street was headed for a negative start on Thursdat.
Tech View: Nifty signals a pause in rally
Nifty50 on Wednesday failed to capitalise on a gap-up start as it attracted profit booking at an all-time high level and eventually erased intraday gains. The 50-pack index ended up forming a bearish candle on the daily chart, even as it continued to form higher highs and lows for the third straight day. Analysts said the index momentum may pause if the 16,700 level is not taken out soon.
Tokyo shares open higher on hopes for Covid peak
Tokyo's benchmark Nikkei index opened higher Thursday as US shares renewed record highs on hopes that the pandemic might have peaked, at least for now. The Nikkei 225 index rose 0.22 percent, or 61.15 points, to 27,785.95 in early trade, and the broader Topix index firmed 0.12 percent, or 2.30 points, to 1,937.96
Hong Kong stocks down at open
Hong Kong stocks opened slightly lower Thursday as investors struggled to take up the reins from another record on Wall Street, with eys moving to a much-anticipated policy speech by Federal Reserve boss Jerome Powell at the end of the week. The Hang Seng Index dipped 0.08 percent, or 20.17 points, to 25,673.78. The Shanghai Composite eased 0.09 percent, or 3.07 points, to 3,537.31.
Japan's services PPI rises for 5th month, up 1.1% in July
The prices Japanese companies charge each other for services rose for a fifth straight month in July, data showed on Thursday, a sign the economy was holding up despite the hit from a resurgence in Covid-19 cases and curbs to combat the pandemic. The services producer price index rose 1.1% in July from a year earlier. The increase was driven by a 1.4% rise in transportation fees with international freight costs jumping 24.6%, highlighting the cost pressure companies are facing.But the annual pace of increase slowed for two straight months and paled in comparison to a recent jump in wholesale inflation, underscoring the pain the pandemic has inflicted on the country's service sector.The services producer price index rose 1.1% in July from a year earlier after a revised 1.3% gain in June, Bank of Japan data showed.
Dollar on back foot as Delta worries ease
The dollar hovered near a one-week low versus major peers on Thursday amid optimism the Delta coronavirus variant won't derail a global economic recovery, with investors now eyeing the Fed's Jackson Hole symposium on Friday for clues on the timing of a tapering of monetary stimulus. The dollar index, which measures the currency against six rivals, edged up 0.05% to 92.867 after dropping to 92.801 overnight for the first time since Aug. 17.
Wall Street hits records on economic optimism
Wall Street stocks rose while the US dollar slipped on Wednesday, with investors more optimistic a day after the House of Representatives passed the $3.5 trillion budget framework and a top health official expressed confidence in fighting COVID-19. The Dow Jones Industrial Average rose 39.24 points, or 0.1%, to 35,405.50. The Nasdaq gained 22.06 points, or 0.2%, to 15,041.86. The major indexes bounced back from modest declines in the early going.
Rupee drops 5 paise to close at 74.24 on strong dollar
The rupee on Wednesday declined by 5 paise to close at 74.24 against the US currency due to a stronger dollar in the overseas markets. Dollar demand from oil marketing companies and importers also weighed on the rupee, analysts said. At the interbank foreign exchange market, the domestic currency opened marginally down at 74.20 and later dropped to a low of 74.30 in the day trade. On Tuesday, the rupee had settled at 74.19 against the US dollar.
Sensex, Nifty on Wednesday
The Sensex closed modestly lower while the Nifty inched up to a fresh closing high on Wednesday as bulls took a breather amid a subdued trend overseas. After touching its all-time high of 56,198.13 in early trade, the 30-share BSE Sensex ended 14.77 points or 0.03 per cent lower at 55,944.21. The broader NSE Nifty, however, ended 10.05 points or 0.06 per cent higher at its new closing record of 16,634.65. It touched an all-time high of 16,712.45 during the day.
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