August 27, 2021 / 03:30 PM IST

Most sectoral indices ended in the green with BSE Capital Goods, power, metal and basic materials clocking gains of over a percent each.

  • August 27, 2021 / 04:36 PM IST

    Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments

    We closed well above 16,600 which is a good start to the new series. We should be heading to 16,850-16,900 which is the next level of resistance for the index. For now, the stop loss level for the Nifty stands at 16,400 but it shall be updated on Monday.

  • August 27, 2021 / 04:35 PM IST

    Ajit Mishra, VP - Research, Religare Broking

    Markets are largely mirroring the global counterparts and now all eyes are on the US Fed Chair statements for any signal on tapering and way forward. Though the trend is positive, we are not seeing decisiveness as participation is slightly restricted. We thus suggest avoiding aggressive bets and preferring index majors over others. 

  • August 27, 2021 / 04:34 PM IST

    Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers

    Indian markets started marginally in red following mixed cues from Asian peers as investors wait to hear US Fed chair about the state of the US economy and guidance on the central bank’s exit from the measures it took to rescue the economy from the Covid-19 pandemic. 

    Traders took some support from a private report stating that hiring activity witnessed an overall 4 percent sequential growth in July and the uptick was mainly spread across metros. It said compared to June, July 2021 saw a notable overall monthly growth of 4 percent in hiring across all metros. 

    The sentiment was also boosted by RBI Governors statement that it wont surprise the market with a sudden rate hike and all monetary policy actions would be carefully calibrated.

  • August 27, 2021 / 04:32 PM IST

    Deepthi Mathew, Economist at Geojit Financial Services

    Investors will be looking for clarity on the tapering plans by the Fed. Unlike in the past, Fed Chairman would clearly communicate it to the market to prevent another episode of the taper tantrum. Though the inflation rate is at an uncomfortable level, the uncertainty arising from the delta variant is a cause of concern for the Fed Chairman. And a better picture of the tapering plans will evolve from the FOMC meeting in September.

  • August 27, 2021 / 03:48 PM IST

    Chandan Taparia, Vice President and Derivatives Analyst at Motilal Oswal Financial Services 

    Nifty formed a bullish candle on the daily scale with a long lower shadow while it continues to make higher highs higher lows from the last four weeks. 

    Now it has to continue to hold above 16,700 to extend the move towards new lifetime high territory of 16,800 and 17,000.

    On the downside, support is seen at 16,500 and 16,380 levels. 

    India VIX fell by 1 percent from 13.54 to 13.34 level. Cooling down of volatility from recent swing highs has given a buy on decline stance to the market and now VIX needs to hold below 12 to get more buying interest in the broader market.
     

  • August 27, 2021 / 03:39 PM IST

    Closing update: After the initial volatility, flagship indices the Sensex and the Nifty managed to close the day in the green with UltraTech Cement, Larsen & Toubro, Dr Reddys Labs, Bajaj Finserv and Sun Pharma among the top gainers.   Sensex closed 176 points, or 0.31 percent, up at 56,124.72 while Nifty settled at 16,705.20, up 68 points, or 0.41 percent.    Broader markets outperformed as the BSE Midcap index closed with a gain of 1.04 percent while the smallcap index rose 0.93 percent.    With a gain of 2.14 percent, BSE Captial Goods index emerged as the top gainer, followed by basic materials, industrials, utilities, power, metal and telecom indices. 

  • August 27, 2021 / 03:26 PM IST

    Hazoor Multi Projects shares locked in 5% upper circuit: Shares of Hazoor Multi Projects were locked in 5 percent upper circuit at Rs 17.15 on BSE after it received a work order of Rs 5.89 crore for the completion of the balance work of National Highway No 548-A from Section Waken Pali to 2 lane with paved shoulder from Varaha Infra Limited. 

  • August 27, 2021 / 03:22 PM IST

    Ashis Biswas, Head of Technical Research at CapitalVia Global Research 

    The market witnessed a swift recovery after the initial fall. It seems 16,500 will be an important support level in the short term. 

    If the market breaches the level of 16,720-16,740 and sustains above this level, it may gain momentum and may march towards 16,950-17,000 levels. 

    Momentum indicators like RSI and MACD may stay positive and the market breadth may improve, further strengthening the short-term bullish outlook.

  • August 27, 2021 / 03:13 PM IST

    BSE Capital Goods index has risen more than 2 percent

    BSE

  • August 27, 2021 / 02:42 PM IST

    CRISIL Ratings upgrades bank facilities, credit rating of ADF Foods

    CRISIL

  • August 27, 2021 / 02:34 PM IST

    Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors: Dollar-Rupee broke the 74.10 mark and fell below 74.00 level to the near term support of 73.80 as National Banks purportedly acting on behalf of RBI left the 74.10 level which they had protected three times in the last few days. The flows in the system were sufficient  to take the rupee upto 73.80. If 73.80 is broken then we can see 73.50 and even lower levels which of course could be slowed down by RBI accumulating the inflows. 

    With IPOs of LIC, Asset Monetization and BPCL divestment we could see more inflows coming. The Jackson Holes Meeting today is crucial to determine Feds view on tapering.

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