Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
10,817.60-185.9
Stock Analysis, IPO, Mutual Funds, Bonds & More
LIVE BLOG

Economic Times | 21 Aug, 2019 | 08.47AM IST

Traders’ Diary: Nifty outlook stays bearish

Sensex and Nifty snapped their three-day winning streak amid selling pressure on the financial counter on slowdown concerns in the economy.

!1 New UpdateClick here for latest updates
08:03 PM

What is RSI and how to use it in stock trading?

08:01 PM

Evening Podcast: Why is market facing selloff at higher levels?

07:15 PM

Nifty failed to cross its 20-EMA for the third time now. However, it did take support at the rising trendline, which was formed by joining recent lows placed at 10,970, and witnessed a minor a pullback in late trade. A sustained trade above 11,080 can lead to short coverings. On the flip side, a trade below 10,970 can drag it to 10,900-10,780 levels. The index is yet to make a higher high above its immediate high at 11,180 to make sure that the intermediate trend has reversed in favour of the bulls

- Aditya Agarwala, Senior Manager, YES Securities

07:13 PM

If the weakness persists in the next session, the correction can initially get extended up to 10,900 level. Contrary to this, it may show strength on a close above 11,150 level, which can facilitate a rally towards 11,300 level

- Mazhar Mohammad, Chartviewindia.in

05:13 PM

In the last 5-6 sessions, Nifty has formed a tight range with the 10,900 level on the downside and 11,180 on the higher side. Final direction will be clear only when the index gives out a breakout on either side. Immediate support is coming near 10,965-10,900 zone and resistance is in 11,080-11,150 zone

- Rohit Singre, Senior Technical Analyst, LKP Securities

05:11 PM

Nifty formed a bearish candle on the daily scale as selling pressure emerged at higher levels. At the same time, the decline was being bought into. The index has been consolidating between 10,900 and 11,180 levels from last six sessions. Now, it has to hold above 10,950 to witness a bounce towards 11,111 level. It requires a decisive breakout from the trading band to get a smooth ride, else a volatile swing could continue with downside support at 10,950 and then 10,900 levels

- Chandan Taparia, Technical & Derivative Analyst, MOFSL

05:10 PM

Investors are pinning hopes on any stimulus/measures from the government to lift market sentiment. On the other hand, sentiment seems to be improving in the global markets post announcement of stimulus/measures by countries such as China and Germany. However, we continue to remain cautious on the markets in the near-term. We recommend that investors should utilise the market correction to accumulate fundamentally strong stocks trading at attractive valuations

- Ajit Mishra, Vice President Research, Religare Broking

05:08 PM

Volatility continued in the market as investors remained risk averse due to uncertainties over economic growth. While, IT index outperformed given its defensive tag helping investors to tide over the volatility. Good monsoon, transmission of the rate cuts and effective measures by the government will add some stability to the market

- Vinod Nair, Head of Research, Geojit Financial Services

05:06 PM

The chart pattern suggests that if Nifty crosses and sustains above 11,040, it would witness buying which would lead the index towards 11,080-11,110. However, if the index breaks below 11,000 level it would witness selling which would take the index towards 10,970-10,940. Nifty is trading below 20,50,100 and 200-days SMA which are important short term moving averages, indicating a negative bias in the short to medium term

- Rajesh Palviya, Axis Securities

04:33 PM

Nilesh Shah on how to revive economic growth

  • Make growth priority over fiscal and inflation
  • Provide adequate capital at reasonable cost to entrepreneurs
  • Manage deficit on coal, travel, education, gold, China dumping and electronics
  • Respect market
  • Cut tax burden
04:29 PM

Basant Maheshwari on investment journey

03:35 PM

CLOSING BELL: Sensex gyrates 292 points, ends 74 pts lower; Nifty below 11,050; YES Bank plunges 7%

CLOSING BELL: Sensex gyrates 292 points, ends 74 pts lower; Nifty below 11,050; YES Bank plunges 7%
03:30 PM

Global bond rally sidesteps India on deficit fears

India’s fixed-income traders have swung from joy to misery within the span of two weeks as the global bond rally passes them by. ​Rupee-denominated sovereign bonds have lost more than half the gains they made since the government’s July 5 budget, as concern rises that authorities may sell more debt to finance further fiscal stimulus.
03:13 PM

BSE share buyback to open on August 30; stock up 4.5%

BSE share buyback to open on August 30; stock up 4.5%
02:51 PM

Top 5 NSE losers in afternoon session

Price as on 20 Aug, 2019 02:51 PM, Click on company names for their live prices.
02:33 PM

McKinsey sees 'ominous' signs of another Asian debt crisis

More than two decades since the Asia debt crisis gripped the region, global consulting firm McKinsey & Co. is warning that signs of a rerun are “ominous.” Increased indebtedness, stresses in repaying borrowing, lender vulnerabilities and shadow banking practices are some of the concerns cited by McKinsey in an August report. Whether building pressures are “enough to trigger a new crisis remains to be seen” but governments and businesses need to monitor potential causes, authors Joydeep Sengupta and Archana Seshadrinathan wrote.
01:37 PM

Buy gold 'at any level,' says Mark Mobius

Veteran investor Mark Mobius gave a blanket endorsement to buying gold, saying that accumulating bullion will reap rewards over the long term as leading central banks loosen monetary policy and the rise of cryptocurrencies serves only to reinforce demand for genuinely hard assets.

“Gold’s long-term prospect is up, up and up, and the reason why I say that is money supply is up, up and up,” Mobius, who set up Mobius Capital Partners LLP last year after three decades at Franklin Templeton Investments, told Bloomberg TV. He added: “I think you have to be buying at any level, frankly.”
Buy gold 'at any level,' says Mark Mobius
01:04 PM

European shares rise for third straight session

European shares rose for the third straight session on Tuesday, building on a recovery since late last week as British drugmaker AstraZeneca surged on results of a late-stage study.

Shares of the drugmaker rose 1.5% after the company said its diabetes drug Farxiga met the main goal of the study for the treatment of patients with heart failure.

The pan-European STOXX 600 index was up 0.1% by 0712 GMT, with London's FTSE 100 outperforming.
12:27 PM

Top 10 NSE gainers in afternoon session

Price as on 20 Aug, 2019 12:27 PM, Click on company names for their live prices.
12:07 PM

Nifty is not reflecting the pain and the pain is more in the broader markets. There is some logic to the pain also. We started off 2016 and 2017 with a big boom in mid and smallcaps. Prices went up through the roof a lot of it was much beyond fundamentals. So some correction was obviously needed and it also coincided with some tough calls which the economy had to take from the longer-term perspective, changing the way the business is being done.

- Sunil Singhania

12:06 PM

Climate change could rain on most profitable company's IPO

Saudi Aramco's biggest asset could be a liability.

The state energy giant's vast oil reserves - it can sustain current production levels for the next 50 years - make it more exposed than any other company to a rising tide of environmental activism and shift away from fossil fuels.

A valuation gap could hinder any share sale. The IPO was previously slated for 2017 or 2018 and, when that deadline slipped, to 2020-2021.
Climate change could rain on most profitable company's IPO
11:52 AM

Market volatility to rule for while: Prasun Gajri

11:49 AM

Investing is a long journey...

11:44 AM

YES Bank cracks 6% on worries over CG Power balance sheet

Shares of YES Bank cracked nearly 6 per cent after the risk and audit committee of CG Power and Industries said that were some unauthorised transactions carried out by ‘certain employees’ of the company, which has led to potential understatement of not only the company’s liabilities, but also advances to related and unrelated parties of the company and the group. Reacting on the announcement, private sector lender YES Bank, which holds 12.79 per cent stake in CG Power.
11:31 AM

Voda Idea drops 6% on subscriber losses, CEO exit

Shares of Vodafone Idea fell 5.68 per cent to trade at Rs 5.65 on BSE in Tuesday's session, a day after CEO Balesh Sharma resigned with immediate effect, less than a year into his job.

Ravinder Takkar was appointed CEO and MD of the mobile phone company whose share price is near an all-time low amid losses and falling subscriber and revenue market shares.

“The Board of Vodafone Idea today announced that it has accepted Balesh Sharma’s request for personal reasons to step down as CEO of Vodafone Idea. Balesh will be taking up a new role with Vodafone Group, which will be announced in due course,” the company said in a statement on Monday.
11:01 AM

On the midcap side, some of the promoters have started buying their stocks which is an encouraging sign and going forward, there may be some amount of rally happening on the midcap side if we do see some action from the government.

- Abhimanyu Sofat, IIFL

10:55 AM

DHFL tumbles 5% as firm defaults on Rs 1,571 crore bond payment

Shares of Dewan Housing Finance Corporation (DHFL) plunged over 5 per cent in early trade on Tuesday after the company informed bourses that it has defaulted on its financial repayment obligations worth Rs 1,571 crore with regard to the issuance of bonds and commercial papers.

The defaults pertain to three cases with regard to interest payment on non-convertible debentures and commercial papers (CPs), Dewan Housing Finance Corporation (DHFL) said in a regulatory filing.

In a break-up, the non-banking financial company (NBFC) said it has defaulted on Rs 46.92 crore towards interest amount on secured NCDs (9.92 per cent and 9.40 per cent/10 year tenor); on NCDs issued through a public issue for multiple tenors of amount involving interest of Rs 363.77 crore and principal amount of Rs 1,059.91 crore.
10:13 AM

Liquidity is an important requirement for banks - lesson from GFC

- NS Vishwanathan, RBI Deputy Governor

10:13 AM

GFC led to a situation that "too big to fail" entities merged

- NS Vishwananthan, RBI Deputy Governor

09:41 AM

Podcast: Let's talk business & markets

09:25 AM

YES Bank, DHFL, Mahanagar Gas among most active stocks on NSE

Price as on 20 Aug, 2019 09:25 AM, Click on company names for their live prices.
09:19 AM

OPENING BELL: Sensex gains 40 pts, Nifty above 11,050; Mahanagar Gas rallies 10%, HFCL 7%

OPENING BELL: Sensex gains 40 pts, Nifty above 11,050; Mahanagar Gas rallies 10%, HFCL 7%
09:11 AM

Pre-open session: Sensex up 40 points, Nifty nears 11,100

Sensex up 40 points, Nifty nears 11,100; rupee trades at 71.51 against dollar.
09:11 AM

Singapore trading sets stage for negative start

Nifty futures on the Singapore Exchange were trading 19 points, or 0.17 per cent, lower at 11,037.50, indicating a negative start for Dalal Street.
09:10 AM

Tech view: Nifty forms bearish candle

The 21-day EMA at 11,148 appeared to be capping the pullback attempt on Monday. The day’s high matched August 13’s high, which was followed by a panic selloff. “Hence, it seems to be a stiff resistance which Nifty will need to take out on a closing basis to resume any uptrend,” said Mazhar Mohammad of Chartviewindia.in.
09:10 AM

Asian shares nudge higher

Asian shares extended their gains on Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession, helping boost riskier assets and drawing money from safe-havens such as bonds and gold. MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.04 per cent, while Japan's Nikkei jumped 0.47 per cent.
09:10 AM

Oil prices drop after Monday’s rise

Crude oil prices slipped, but losses were limited as equity markets rallied and as traders hoped Sino-US trade tensions would ease. Brent crude had slipped 3 cents, or 0.05 per cent, to $59.71 a barrel, after rising 1.88 per cent on Monday.
09:10 AM

Trump urges Fed to cut rate by 100 bps

US President Donald Trump stepped up his assault on the Federal Reserve, urging it to cut interest rates by a full percentage point to aid global growth while complaining the dollar is so strong that it is sadly hurting other parts of the world.
09:10 AM

Powell may suggest Fed ready to cut rates

Federal Reserve Chairman Jerome Powell will have no lack of material to choose from when he kicks off the central bank’s annual Jackson Hole symposium Friday with a speech on the challenges for monetary policy, Bloomberg reported.
09:09 AM

US stocks gain on stimulus hopes

US stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy. The Dow Jones Industrial Average rose 249.78 points, or 0.96 per cent, to 26,135.79, the S&P500 index gained 34.97 points, or 1.21 per cent, to 2,923.65 and the Nasdaq Composite index added 106.82 points, or 1.35 per cent, to 8,002.81.
09:09 AM

Sterling & Wilson may see weak market debut

Shares of solar power EPC company Sterling & Wilson Solar are likely to list at a discount of Rs15- Rs 20 to its issue price of Rs 780 per share at its market debut on Tuesday, said market sources, citing grey market trends. The IPO was subscribed just 92 per cent as the retail portion went undersubscribed.
09:09 AM

FPIs sell Rs 306 cr worth equities

Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 306 crore on Monday, data available with NSE suggested. DIIs were net buyers to the tune of Rs 386 crore, data suggests.
09:09 AM

Sensex on Monday

BSE Sensex closed 52.16 points, or 0.14 per cent, higher at 37,402.49. While NSE Nifty ended at 11,053.90, up 6.10 points or 0.06 per cent.
09:08 AM

Good Morning, dear reader! Here's something to kickstart your trading day

Good Morning, dear reader! Here's something to kickstart your trading day
Have something to say? Post your comment

Comments are moderated and will be allowed if they are about the topic and not abusive.

Characters remaining (1500)

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

^Go to Top