Sensex, Nifty Updates: Benchmark Sensex and Nifty turned volatile, although rose back to initial gains on Wednesday, amid mixed cues from global markets. Amid buying pressure in banking and financials, Sensex climbed 215 points higher at 30,826, Nifty rose 72 points higher at 9,100. On Tuesday, Sensex closed 63 points lower at 30,609, while the broader Nifty50 index ended 10 points down at 9,029. Overseas, markets were trading on a mixed note on Wednesday.
Here’s a look at the updates of the market action on BSE and NSE today
12.00 PM: Nifty outlook
Just as last week, the market have been consolidating in the narrow range of 9000-9200, on back of muted earnings season and rising number of coronavirus cases.
On the higher side, 9200 remains the immediate hurdle and traders can expect some momentum towards 9300-9350 in the near term, once 9200 is achieved. As per experts, bearish conditions will activate below 8,900 and from there the index can accelerate towards 8,800 level.
11.53 AM: Sectors today
Sectorally, except for media, auto, pharma and FMCG, all the other indices traded in green territory, with heavy buying registered in banking and financial stocks.
11.46 AM: Markets turn green
Benchmark Sensex and Nifty turned volatile, although rose back to initial gains on Wednesday, amid mixed cues from global markets. Amid buying pressure in banking and financials, Sensex climbed 215 points higher at 30,826, Nifty rose 72 points higher at 9,100.
11. 34 PM: Deepak Nitrite share price gains over 5% post results
Deepak Nitrite share price opened with a gain of 5.5% to an intraday high of Rs 528.7 after reporting quarterly results.
The company reported 9.95% rise in its net profit at Rs 172 crore during the quarter ended March 31, 2020, as against loss of Rs 156 crore, recorded in a year-ago period.
Company’s total income fell 6.7% (YoY) to Rs 1057 crore in the January-March quarter of the current fiscal as compared to Rs 1134 crore in a year ago period.
11.22 AM: Technical outlook
As per technical charts, Nifty’s support levels are at 8,960-8,900, while its resistance levels line up at 9,130-9,230. As per experts, bearish conditions will activate below 8,900 and from there the index can accelerate towards 8,800 level.
11.00 AM: Losers and gainers today
ITC, Reliance Industries, M&M, Ultratech Cement, Asian Paints, Titan and NTPC were among the top losers today. WhileHCL Tech, HDFC Bank, Maruti, IndusInd Bank, Bajaj Finance, Birla Corporation, MMTC, Meghmani Organicswere among the top gainers.
10. 48 AM: Titan shares drop over 2%
Titan share price touched an intraday low of Rs 868, falling 2.82% on BSE after the company announced in a BSE filing that its operations were hit substantially from 17th March 2020 till the 1st week of May 2020, when lockdown was gradually lifted.
Company was able to get only very marginal sales through its online channel at the end of April but delivery for these have been affected due to classification of our products as…
Go to the news source: Sensex gains 200 points, Nifty at 9,090; HDFC Bank, IndusInd Bank, Bajaj Finance…