Share market today, Nifty and Sensex movements and the stock news

 

Share market today started with a positive note but after a range-bound trading session market ended in red. In the end, Nifty declined 11 points and closed at 11,884.50 and Sensex down 72.50 points and closed at 40284.19. 

Share Market Index movement today

The Bank Nifty also moved in a tight range today, it declined only 16.30 points at the end and closed at 30992.10. The Nifty midcap 100 index is the gainer today, it gained 127.60 points or 0.76% and closed at 16931.4. The Nifty smallcap 100 index also gained marginally, it was up 13.15 or 0.23% and closed in 5688.40.

The top five gainers in the Nifty50 stocks are Bharti Airtel, Tata Steel, UPL, Hindalco, and BPCL. The top losers in the Nifty50 stocks are Yes Bank, Bajaj Auto, Britannia, M&M, and Hero motor corp. 

In the Nifty midcap space, the gainers are Glenmark, Dish TV and the losers are Reliance Power, Rel Capital. The gainers in the Nifty smallcap space are Linde India, Wockhardt, and the losers are Reliance Comm, Avanti Feeds.

Among the sectors, Insurance, Manufacturing, IT & Software, Retail, Oil & Gas are closed in red. The sectors which closed in green are Telecom, Metal, Healthcare, Electricals and Construction Materials.

 

Reason for positive share market opening today

Today share market opened in green because the Central bank of China has cut the interbank lending rate on Monday, this happened the first time after 2015. This signals that the policymakers of China are ready to act to revive the slowdown in the country. But the Indian share market could hold the morning gains in the end.

 

Stocks which are in news today in the share market

 

The share price of Reliance Communication hits 52-week low at Rs 0.55  after the news of its Chairman Anil Dhirubhai Ambani’s resignation as director of the company. The share fell 8%  and closed at Rs0.55 per share

The global research firm CLSA has upgrades Glenmark Pharma from sell to buy. It has raised the target from Rs 350 to Rs 410 per share. The share price of Glenmark Pharma gained 21.45% and closed at Rs 365.55 per share.

Tata Steel has completed its stake sale in NatSteel Vina Co. Ltd (NSV). The share price of Tata Steel gained 3.94%  and closed at Rs 410.05 per share.

HSBC has downgraded the General Insurance Corporation (GIC) of India to Hold, then it sees limited upside from the current levels. The share price of GIC fell 4.96%  and closed at Rs 245.45 per share

Peers and globals PE firms are in the race to buy selected divisions of Wockhardt, the share price of Wockhardt gained 9.28% and closed at Rs 296.65 per share.  

Ashoka Concessions a subsidiary of the Ashoka Buildcon has become the lowest bidder by NHAI for the project of Four-lane of HH-161 in Telangana. The share price of Ashoka Buildcon fell 0.37% and closed at Rs 94.05 per share. 

A wholly-owned subsidiary of HCL Infosystem, HCL learning concluded the sale of the entire shareholding of its wholly-owned subsidiary HCL Insys Pte Ltd, Singapore to PCCW solutions Hong Kong for SGD 57,628,787. The share price of HCL Infosystem gained 20% and closed at Rs 8.85 per share.

HDFC Securities downgrades New India Assurance Company to sell with a target price of Rs116, a 27% potential downside from the current levels. The share price of New India Assurance has declined 4.42% and closed at Rs 151.35 per share.

 

Crude and Rupee Update:

The Brent crude future oil price is trading 0.40% lower than the previous day’s price. It is currently trading at $63.05 per barrel. The Indian rupee go depreciated today, it closed at Rs 71.81 against the US dollar.

 

Conclusion:

Today, Indian share market moved in range-bound. The market is looking for a trigger for further up move, till such time Nifty and Bank Nifty will be trading at a tight range. Traders can follow our Nifty and Bank Nifty Support and Resistance levels for tomorrow here and Investors can check out  10 Best Stock to Buy for 2020.

 

You may also like to read, Indian stock market prediction for November 2019 Series

 

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Happy Investing!!

Editor’s Desk