Live Stock Market Updates: Market extends morning gain; Nifty chases 10100

Nifty Realty index is the top gainer among sectoral indices in the morning hour. Indiabulls Real Estate is the top gainer in realty segment trading at around Rs 239.05 per share, up by Rs 14.75 per share or 6.58%.
 
Prestige Developers and HDIL are also trading in positive territory, up by over 1%. Other realty stocks like Phoenix, DLF, Oberoi Realty and Sobha Developers are also trading in the green zone.
 
There were 1125 advances, 739 declines and 94 unchanged stocks on BSE reflecting strong positive sentiments floating in the market.
 
At 10 AM, the S&P BSE Sensex is trading at 32597 up 214 points, while NSE Nifty is trading at 10091 up 70 points. A total of 53 stocks registered a fresh 52-week high in trade today, while 12 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.46% at 15409, while BSE Small-cap Index is trading up 0.33% at 16151.
 
Some buying activity is seen in Capital Goods, Metal, Auto, while Healthcare, Telecom and Consumer Durables are showing weakness on BSE.
 
Yes Bank, HCL Technologies, HDFC, Eicher Motors and IndusInd Bank are among the gainers, whereas Bharti Airtel, Sun Pharma, Cipla, Hindalco and Tata Steel are losing sheen on NSE in the first trading hour.
 

Live Stock Market Updates: Nifty trades almost flat

Nifty is trading almost flat after touching record high level at the opening bell. Immediate support level for the index may be placed at 9900 level. Nifty FMCG index is one of the losers among sectoral indices on NSE. FMCG heavyweight, ITC Limited was trading at Rs 292.1 per share, down by 0.39%.
 
Other FMCG stocks viz. United Spirits, United Breweries, Marico, GSK, Jubilant Foods and Hindustan Unilever were also trading in negative territory down by over 0.4%.
 
There were 712 advances, 848 declines and 396 unchanged stocks on NSE reflecting mixed sentiments floating in the market.
 
At 11 AM, the S&P BSE Sensex is trading at 32289 up 43 points, while Nifty is trading at 9973 up 6 points. A total of 47 stocks registered a fresh 52-week high in trade today, while 15 stocks touched a new 52-week low on the NSE.
 
The BSE Mid-cap Index is trading up 0.36% at 15280, while BSE Small-cap Index is trading up 0.1% at 16052.
 
Some buying activity is seen in Banks, Telecom and Metal while Oil & Gas, Energy and Healthcare are showing weakness on BSE.
 
Bharti Infratel, Indiabulls Housing Finance, Vedanta, Hero MotoCorp, NTPC are among the gainers, whereas Zee Entertainment, HCL Technologies, Tech Mahindra, Eicher Motors and Tata Motors are losing sheen on NSE.
 

Upward rally to start if Nifty 9,650 breaches

As per the market observers, Nifty has formed an ‘inside bar’ on the daily technical charts. It can continue to trade in the narrow range unless any decisive move takes index outside the range of 9,590-9,650 range.

Nifty closed at 9,637 level up by 24 points and Sensex closed at 31,245 level up by 35 points on Wednesday. The Nifty50 index traded in a narrow range with an intraday low of 9,607 level and intraday high of 9,643 level. However, it ended at a 2-week closing high.

 
Nifty could not cross the immediate resistance level of 9650. As per the market observers, Nifty has formed an ‘inside bar’ on the daily technical charts. It can continue to trade in the narrow range unless any decisive move takes index outside the range of 9,590-9,650 range.
 
Nifty’s 5-day exponential moving average (EMA) and 13-day EMA stood at 9,596 and 9,586 level, respectively. The Nifty50 index now, going forward, may find resistance near levels of 9,650-9,660, and if it sustains above this resistance zone, it may scale up to levels of 9,700-9,710. On the lower end, the level of 9,580 may act as an immediate support level for Nifty50, but if the index fails to hold this support level, it may witness further correction up to levels of 9,550 and 9,530.

Markets may dither on heightened geopolitical concerns

Indian equity markets are likely to open on a soft note on Wednesday, tracking muted cues from SGX Nifty, which was unchanged at 9,625 amid lacklustre trading across Asian markets.
 
The Nifty50 index saw a strong supply around levels of 9,640-9,650 in the previous session and, hence, the zone of 9,640-9,650 may continue to act as a strong resistance zone. On the flip-side, the level of 9,580 may act as an immediate support level for Nifty50, but if the index fails to hold this support level, it may witness further correction up to the levels of 9,550 and 9,530.
 
Back home, Indian markets, after starting the session with moderate gains, pared most of the gains and oscillated within a restricted range for most part of the session. However, in the late hour of trading, some selling was witnessed and markets ended on a flat note with negative bias on Tuesday.
 
American stock exchanges were closed on Tuesday on account of Independence Day holiday.
 
Asian bourses were under pressure in early trade amid heightened geopolitical concerns on Wednesday. Japan’s Nikkei 225 has plunged 121 points; Hong Kong's Hang Seng has slipped 38 points, while China’s Shanghai Composite is trading flat with negative bias.