Indian stock market ends marginally higher in volatile session
The Indian benchmark indices ended marginally higher in a volatile session on September 14, with the Sensex rising 52.01 points or 0.08 percent to end at 67,519.00, and the Nifty ending at 20,103.10, up 33.10 points or 0.16 percent.
After opening at record-high levels, the benchmark indices failed to hold on to the gains and remained rangebound throughout the session amid buying seen in the oil & gas, metal, realty and PSU Banks.
The BSE Sensex and Nifty50 touched fresh record highs of 67,771.05 and 20,167.65, respectively, in today’s session.
- The market opened on a strong note and touched record highs, but profit-taking by investors in heavyweights trimmed the gains.
- The market remained rangebound throughout the session, but the broader indices outperformed the main indices.
- The sectoral analysis showed that oil & gas, realty, metal and PSU Bank gained, while FMCG index ended with marginal cut.
- The outlook for the market is positive, and the Nifty is expected to test the 20,300 level in the near term.
- Ajit Mishra, SVP – Technical Research, Religare Broking: “Markets traded volatile on the weekly expiry day and ended marginally in the green. After the initial uptick, profit taking in heavyweights trimmed the gains, followed by range bound movement till the end. Meanwhile, a mixed trend on the sectoral front kept the traders busy wherein metal and realty posted strong gains while FMCG ended on a muted note. Besides, the continued recovery on the broader front further boosted the sentiment.”
- Shrikant Chouhan, Head of Research (Retail), Kotak Securities: “While the north-bound journey continued the uptick lacked the firepower as seen in recent sessions as valuations are becoming expensive and investors are taking a cautious route. Rising global crude oil prices are also making investors jittery as this could stoke inflation and force central banks worldwide to maintain the rate hike regime.”
Outlook for September 15:
The market is expected to remain volatile on September 15, with the Nifty testing the 20,300 level. Investors should maintain their focus on stock selection and prefer index majors.
- 22 Sep
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- 22 Sep
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- 22 Sep
Indian Bond Markets to Remain Stable in Near Term After JPMorgan Inclusion
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- 22 Sep
Indian market drops on September 22 despite inclusion of Indian bonds in JP Morgan index
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