Stock Market LIVE Updates: Sensex gains 150 points, Nifty50 above 17,400; Dish TV surges 7%, Sobha drops 3%

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Domestic equity benchmarks started Tuesday’s session on a strong note amid buying interest across sectors but turned flat later on. Tata Consumer, Asian Paints, ITC, Britannia and Shree Cements were among top blue-chip performers. On the other hand, Axis Bank, Wipro, Grasim, Infosys and Sun Pharma were among top losers. Dish TV surged 7 per cent, while Sobha dropped 3 per cent in early trade.

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Opening Bell: Sensex gains 150 points, Nifty50 above 17,400; Dish TV surges 7%, Sobha drops 3%

Pre-open session: Sensex gains 200 points, Nifty50 above 17,400

SGX Nifty signals a flat start

Nifty futures on Singapore Exchange traded 4 points, or 0.02 per cent, lower at 17,415, signaling that Dalal Street was headed for a flat start on Tuesday.

Tech View: Nifty chart hints at pause in momentum

Nifty50 on Monday formed a fresh high for the third session in a row. The 50-pack index ended up forming a ‘Doji’ candle on the daily chart, suggesting indecisiveness among market participants at record highs. The fact that the index is also trading in the overbought territory has raised the possibility of a halt to the ongoing momentum, even as analysts see no clear sign of weakness for now.

Hong Kong stocks begin day on positive note

Hong Kong stocks opened slightly higher Tuesday morning, extending a general advance in recent weeks fuelled by recovery hopes and easing concerns about China’s regulatory crackdown. The Hang Seng Index added 0.17 percent, or 43.59 points, to 26,207.22. The Shanghai Composite was flat, inching 0.15 points lower to 3,621.71, while the Shenzhen Composite Index on China’s second exchange was also hardly moved, ticking down 0.55 points to 2,462.81.

Japan stocks open higher on new stimulus hopes

Tokyo stocks opened higher Tuesday, with investors cheered by the prospect of possible new economic stimulus under a future Japanese prime minister after the incumbent said he won’t seek re-election. The benchmark Nikkei 225 index was up 0.62 percent, or 183.20 points, at 29,843.09 in early trade, while the broader Topix index was up 0.67 percent, or 13.64 points, at 2,054.86.

Oil wobbles as demand woes stalk market

Oil prices were wobbly on Monday as investors grappled with demand concerns after Saudi Arabia’s sharp cuts to crude contract prices for Asia. Brent crude futures for November rose 4 cents, or 0.1 per cent, to $72.26 a barrel, after falling 39 cents on Monday. US WTI crude for October was at $68.88 a barrel, down 41 cents, or 0.6 per cent, from Friday’s close, with no settlement price for Monday due to Labor Day holiday in the United States.

Gold ticks up on softer dollar, doubts over early Fed taper

Gold prices firmed on Tuesday, propped up by a softer dollar and prospects of the US Federal Reserve delaying a tapering in its pandemic-era bond purchases. Spot gold rose 0.2 per cent to $1,826.75 per ounce. Prices had hit a 2-1/2-month high last week following a disappointing US non-farm payrolls data. A strong jobs recovery is crucial for the central bank to start withdrawing its stimulus measures.

US markets shut on account of public holiday

US stock and bond markets were shut on Monday on account Labor Day. On Friday, the Nasdaq ended Friday at a new peak but the other main Wall Street indices fell, reflecting the mixed sentiment stemming from a disappointing US jobs report. Dow Jones shed 0.21 per cent to 35,369.09. The S&P500 index retreated 0.03 per cent to 4,535.43. The Nasdaq Composite added 0.21 per cent to 15,363.52

Rupee drops 8 paise to 73.10 against dollar

The rupee on Monday declined by 8 paise to close at 73.10 against the US currency mainly due to the dollar’s gains in the global markets. At the interbank foreign exchange market, the domestic currency opened flat at 73.02 but later lost ground to touch a low of 73.11 in the day trade. On Friday, the rupee had settled at 73.02 against the US dollar.

Sensex, Nifty on Monday

The 30-share BSE Sensex advanced 166.96 points or 0.29 per cent to its new closing record of 58,296.91. It touched an all-time high of 58,515.85 during the session. Similarly, the broader NSE Nifty climbed 54.20 points or 0.31 per cent to its fresh lifetime peak of 17,377.80. During the session, it touched a record 17,429.55.

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