Sensex breached 58,200, gaining 130 points or 0.24% while the NSE Nifty 50 was above 17,300. Bank Nifty regained 38,100

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices were trading with gains with less than an hour left before the closing bell.

S&P BSE Sensex breached 58,200, gaining 130 points or 0.24% while the NSE Nifty 50 was above 17,300. Bank Nifty regained 38,100 while India VIX zoomed 5% regaining 18 levels. Tata Steel was the top laggard on Sensex, down 1%, followed by ICICIC Bank, Ultratech Cement, and Axis Bank. Asia Paints was the top gainer, accompanied by ITC, Reliance Industries, and HUL.

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15:07 (IST) 2 Aug 2022

RBI likely to hike repo rate by another 100 bps in the remainder of FY23: CareEdge

'With the softening of many commodity prices, CPI inflation seems to have broadly peaked at the current levels and expected to witness a downward movement to below 6% by Q4FY23. However, domestic inflation is still high and so is the global commodity prices, we expect RBI to continue with front-loading of rate hiking cycle. We expect 50 bps of repo rate hike in the upcoming policy and another 50-bps rate hike post that taking the terminal repo rate to 5.90% by the end of the fiscal year,' said Rajani Sinha, Chief Economist, CareEdge.

14:44 (IST) 2 Aug 2022

Sensex in green

Index heavyweights such as Reliance Industries were trading with gains, pulling the index out of the negative territory ahead of the closing bell.

14:37 (IST) 2 Aug 2022

Take profits out

'If you are sitting on profits - take them. If you are taking fresh trades, focus on position sizing and do not outdo yourself at these levels = Meaning trade in small qty. China-Taiwan issue could be the reason for a dip of around 300 - 400 points in Nifty,' said Rahul Sharma, Director & Head - Research, JM Financial.

14:07 (IST) 2 Aug 2022

Should you buy Indian Bank stock?

Higher NIM and lower apex led to a 1,109 q/q improvement in Indian Bank's C/I ratio to41.9%. Higher credit costs (~2%) led to muted profitability, with the RoA at0.7%. Slippages were elevated; however, higher write-offs led to improved GNPAs. Ahead, we expect slippages to moderate substantially as most of the stress has already been recognized. Besides, we expect the bank to gain market share from its peer banks. We retain our positive view on it, at a TP of Rs205,valuing it at 0.5x P/ABV on its FY24e book. Anand Rathi Share and Stock Brokers

13:41 (IST) 2 Aug 2022

Nifty needs to hold 17150

'India VIX has inched higher and is near 18 levels which is providing comfort to the market to scale higher. Now as long as long as the index trades above 17150 we can expect higher levels of 17350 and 17500 whereas on the lower side support is placed at 17150 and 17000. Market breadth is positive which is indicating buying interest at lower levels,' said Chandan Taparia, Vice President, Equity Derivatives and Technical, Broking & Distribution, Motilal Oswal Financial Services.

13:26 (IST) 2 Aug 2022

Trend remains intact

'Nifty formed a long bullish candle with bullish runaway gaps indicating that the trend remains intact and is likely to continue its positive momentum. On the oscillator front there are still no signs of exhaustion, or any reversal signal are being unfolded. On the contrary, Weekly RSI clocked breakout from 6 months falling trend line indicating long term positive bias. The psychological level of 17000 which further coincides with the 200 dma would be the immediate short term trend deciding level for the market. On the upside the elevated target level for Nifty is around 17500 (being 80% retracement of two-month decline (18100-15183). Improving market breadth measured by percentage of stocks above 50 & 200DMA within Nifty 500 universe augurs well for durability of ongoing up move. Hence, intraday dip towards 17190-17222 can be used creating a long position for the target of 17500,' said Tirthankar Das, Head of Technical Research, Ashika Group.

13:05 (IST) 2 Aug 2022

Dodging the trend

Nifty Next 50 index was up in the green on Tuesday while the Nifty 50 index sat in the red. Nifty Smallcap 100 and Nifty Smallcap 250 were also in the green.

12:30 (IST) 2 Aug 2022

Sensex touches 58000

Sensex trimmed losses but was still in the red on Tuesday. The headline indices touched 58000 mark once again after having slipped below its during the early hours of trade.

12:23 (IST) 2 Aug 2022

Adani Enterprises stock may replace Shree Cements in Nifty 50 in next review; check other possible changes

Another Adani Group firm could enter the NSE Nifty 50 index in the upcoming Semi-annual Index review, according to Abhilash Pagaria, Head - Edelweiss Alternative & Quantitative Research. With the cut-off date of July 29 behind, analysts at Edelweiss Alternative & Quantitative Research believe that Adani Enterprises is best placed to enter the headline index and could replace Shree Cements in the 50-stock pack. NSE indices are rebalanced twice every year and changes are made to the index constituents based on various factors. Edelweiss also anticipates a host of other changes to various indices managed by NSE.