Market Live 1st Sept: Nifty trading above 11450, Metals, Banks, Auto are in focus

Market Live for 1st Sept: Markets are trading higher, Metals, Banks, Automobiles are in focus

Market Live for 1st Sept at 9.50 AM: Indian markets opened higher as the Asian market cues. The Nifty opened at 11464.30, made a gap up opening of 76.8 points while Sensex opened at 38754 a positive opening of 125.71 points. The Bank Nifty index also added 139.45 points from the previous close and opened at 23893.80 levels.

At 9.50 AM, the Nifty and Sensex are trading higher at 0.50% and 0.46% respectively while Bank Nifty is up by 0.51%.

Hindalco, IndusInd Bank, Bharti Infratel are trading as the top gainers in the Nifty Index whereas ONGC, GAIL, and ITC are trading as top losers. The most active stocks at this time are Reliance, IndusInd Bank, and HDFC Bank. ONGC Q1FY21 results are expected today.

Almost all major sectors are trading higher, Metals, Banks, Auto, Healthcare sectors are top gainers at this moment.

Market Live for 1st Sept: Markets are expected to open higher

 

Good morning and welcome to NSE/BSE Share Market Live for 1st Sept at 8.30 AM

After yesterday’s sharp fall, today Asian markets are trading in the green. Shanghai is trading marginally higher by 0.04% whereas Hang Seng and Nikkei are trading up by 0.14% and 0.03% respectively. SGX Nifty is indicating a positive opening for the Indian markets. At this moment SGX Nifty is trading at 68 points or 0.60% higher.

The US markets closed mostly lower on Monday but it made a record of strongest return in August due to vaccine hopes and treatment of COVID-19. On the last day of the month, Dow and S&P 500  plunged 0.78%  and 0.22% respectively whereas Nasdaq gained o.68%.

The European markets closed lower on Monday after the disappointment of German and Italian inflation data. FTSE and DAX closed lower at 0.61% and 0.67% while CAC was down by 1.11% on 31st August. 

Back home in India, Sensex and Nifty plunged 2.13% and 2.23% yesterday. FIIs were the sellers and DIIs were buyers in the cash market yesterday. FIIs sold Rs 3395.49 cr whereas DIIs bought Rs 680.88 cr yesterday. 

You can also read the complete yesterday’s market updates here.

 

News that can influence in NSE/BSE Live Market today:

India’s GDP contracts 23.9% during April-June end quarter in 2020. The manufacturing sectors contracted 39.3% from a growth of 3% last year. Except for agriculture, all other sectors shrank in the Q1FY21 due to the lockdown imposed for the coronavirus pandemic.

On 31st August as per the data released, India’s budgetary fiscal deficit in April-July stood at Rs 8.21 Lakh cr as against Rs 5.47 lakh cr YoY basis. This is compared to Rs 7.96 lakh cr budgeted target. 

From today as per SEBI guidelines, the new margin system through pledge/repledge mechanism has been implemented by all Indian Stock Brokers.

Japan’s factory activity contracted as per PMI Manufacturing data released and its jobless rate also rises to 2.9% in July from 2.8% in June.

Today’s results- ONGC, Shalimar paints, Anant Raj, etc

You can visit this page for more NSE/BSE Live Market updates for 1st Sept.

 

You may also like to read, Trade Setup for Next Week: Nifty & Bank Nifty Trading view

 

Happy Investing

Editor’s Desk