Click it and Unblock the Notifications
Stock Market Live Updates: Nifty Below 24,440, Sensex Down 549; Oil And Gas, Media Stocks Surge
With the BSE Sensex trading over 300 points lower and the Nifty 50 displaying an initial fall and trading below the 24,500 mark, the Indian stock market began with a mixed mood today. This muted start comes after a period of volatility fueled by both domestic and international causes, such as the Reserve Bank of India's decision to maintain the repo rate at its current level and recent US tariff pronouncements.
This followed the Nifty index's traditional weekly expiry-day volatility, which saw it bounce wildly during the prior day's session. On the global market front, Asian stock markets performed well overall today, with China's blue-chip indices and Hong Kong's Hang Seng posting gains, and Japan's Nikkei 225 and Topix indices both reaching near new highs.
With major players like State Bank of India, Tata Motors, Grasim Industries, Siemens, Info Edge India, and Voltas set to release their Q1 results today, the current Q1 results will be the main focus of the local market.
Stock Market Live: Nalco Share Price In Red After Q1 Result; What Should Investors Do?
Stock Market Live: Shares of National Aluminium Company opened in red on Friday, August 8, a day after the public sector undertaking (PSU) reported its June quarter result and dividend. "Revenue from the chemical business stood at INR16.3b, up 91% YoY but lower by 36% QoQ, led by the softening of alumina prices. EBIT came in at INR5b (vs INR311m in 1QFY25) and declined 62% QoQ," states brokerage in its report. Motilal Oswal maintained a 'neutral' stance for the stock
Stock Market Live Updates: Nifty Below 24,440, Sensex Down 549; Oil And Gas, Media Stocks Surge
Stock Market Live Updates: Nifty Below 24,440, Sensex Down 549; Oil And Gas, Media Stocks Surge
Stock Market Live Updates: Data Patterns Shares Plunge Over 8% After Q1FY26 Results
Shares of Data Patterns fell over 8% on Friday following the release of its Q1FY26 results, which showed a 22% year-on-year decline in net profit for the June quarter.
Stock Market Live Updates: AU Small Finance Bank Shares Jump 7.6% After RBI Nod for Universal Bank Transition
Shares of AU Small Finance Bank surged 7.6% to hit an intraday high of Rs 800 on Friday, August 8, following the Reserve Bank of India’s (RBI) 'in-principle' approval for the bank to convert into a universal bank.
Stock Market Live Updates: Swiggy, Vishal Mega Mart Among New MSCI Entrants
Swiggy, Vishal Mega Mart, Waaree Energies, and Hitachi Energy India have been added to the MSCI India Index as part of the latest MSCI Global Standard Index rejig, signaling increased visibility and potential inflows from global investors.
Market Outlook Today By Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
The market continues to be technically and fundamentally weak. Continuous lower lows on the Nifty is technically a weak sign. From the fundamental perspective, there are no indications yet of a sharp uptick in earnings for FY26. These weak indicators, along with the relatively high valuations in India, are triggering sustained selling by the FIIs. FIIs have sold on all trading days of August, so far, taking their total cash market selling in August, till now, to Rs 15950 crores. Yesterday’s sharp 250 point recovery from the low level in Nifty was caused by short covering triggered by the strong buying by DIIs of Rs 10864 crores. In the present context of negative sentiments in the market caused by the tariff skirmishes between India and the US, FIIs are likely to continue selling in the cash market. The only saving grace is the sustained DII buying which remains strong. The strong DII buying assisted by sustained flows into mutual funds can prevent a crash in the market. Investors may wait and watch for the developments on the tariff front to unfold.
Bank Nifty Prediction Today By Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking Private Limited
The Bank Nifty also witnessed significant intraday swings, initially dropping nearly 350 points. However, it took strong support near the 100-day Exponential Moving Average (EMA) and rebounded sharply by around 540 points. The index formed a bullish candle, indicating the presence of buyers at lower levels and closed above the previous day’s close. Key support levels are now seen at 55,200 and 55,000. Holding above these zones could lead to further gains, while resistance lies in the 55,700–56,000 region. A convincing breakout above this resistance band could trigger a rally toward the psychological 56,200 mark.
Nifty Prediction Today By Hardik Matalia, Derivative Analyst - Research at Choice Equity Broking Private Limited
The index formed a bullish candlestick pattern, reflecting renewed buying interest and momentum. From a technical standpoint, a sustained move above the 24,650 level could open the door for an upside toward 24,850. On the downside, immediate support is placed at 24,550, followed by 24,400 — both of which could offer attractive entry points for fresh long positions.
Nifty Outlook Today By Mr. Ajit Mishra – SVP, Research, Religare Broking Ltd
Although tariff-related concerns triggered fresh volatility, the Nifty managed to hold above the 24,450 marks on a closing basis. This reaffirms the significance of this level as a strong support — the lower band of the previous consolidation range that had earlier led to a rally. Going forward, a decisive move above the 24,800 level could pave the way for a further rebound towards the 25,000 marks. Amid the prevailing uncertainty, we continue to advise a cautious approach and prefer maintaining hedged positions.
Bank Nifty Outlook Today By Om Mehra, Technical Research Analyst, SAMCO Securities
The index remains below the 20-day and 50-day simple moving averages, and the pace of decline has moderated. The broader setup still reflects a short-term downtrend, but the index has respected the horizontal support band between 55,150 and 54,440—a zone that has historically acted as a base since mid-June. The Relative Strength Index has edged up to 39, recovering modestly from oversold territory, while the MACD maintains a negative crossover, with the histogram showing signs of flattening. On the hourly chart, Nifty Bank has moved back above the VWAP, after rebounding from the 55,000 zone. This intraday move suggests improving traction, though confirmation will depend on sustained strength above immediate resistance levels. The next hurdle lies at 55,900–56,100, a band that coincides with key hourly swing zones and overlaps with the underside of the moving average cluster on the daily chart. A decisive move above this resistance zone could trigger further upside toward 56,350, while failure to clear this zone may keep the index range-bound. As long as 55,150 continues to hold on a closing basis, a cautious buy-on-dip approach may be considered for the near term.
Nifty Outlook Today By Om Mehra, Technical Research Analyst, SAMCO Securities
On the daily chart, Nifty remains below the 50-day simple moving average (25,030) and the 20-day SMA (24,900). The session’s candle reflects a lower shadow, indicating a short-term recovery in the coming session. The RSI stands at 39, showing limited improvement. The MACD skewed slightly negative. The hourly chart reveals a partial rebound from the lower Bollinger band. The index is sustaining above the VWAP, indicating that recovery still has the potential to gain some more momentum. Unless Nifty decisively closes above the 24,750–24,800 zone, these levels would act as resistance. The support remains at 24,450, followed by 24,400.
Bank Nifty Derivatives Highlights By Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities
The options data reflects a mild improvement in sentiment, aligning with the recovery seen in the spot market. The 56,000 strike has emerged as a formidable resistance area, witnessing heavy call writing with open interest climbing to 12.59 lakh contracts. On the support side, the 55,000 strike retains the highest put open interest at 9.22 lakh contracts, solidifying it as a strong support zone. Notably, put writers have begun cautiously re-establishing positions near current levels, suggesting the development of a potential bottom. However, aggressive call writing at higher strikes indicates market participants still anticipate a rangebound movement in the near term. The Put-Call Ratio (PCR) inched up from 0.72 to 0.79, indicating a slight tilt toward bullish bias but also reflecting lingering caution.
Bank Nifty Outlook Today By Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities
Index printed a bullish candlestick formation near key support, nearly resembling a bullish pin bar. Buyers stepped in aggressively, reclaiming the last two sessions’ losses and establishing a fresh base at lower levels. The momentum suggests that a move above Thursday’s high could extend the rally, particularly if the index breaks above the 55,670–55,720 resistance band. This could potentially open room for an advance toward the 56,120–56,200 levels. On the flip side, immediate support is located near 55,000–54,950, coinciding with a previous demand zone and the 100-day EMA. Unless this zone is breached decisively, any downside is expected to attract renewed buying. The Relative Strength Index (RSI) is hovering near 40 and showing early signs of a positive divergence on shorter timeframes, indicating waning bearish momentum. The broader technical structure remains oversold, and any corrective dips could be viewed as opportunities to re-enter long trades with a favourable risk-reward setup.
Nifty Derivatives Highlights By Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities
The derivatives setup supports the technical bounce, with early signs of bullish sentiment re-emerging. For the first time in over a month, put writers have marginally outpaced call writers, indicating a subtle but meaningful sentiment shift. The 25,000 strike has witnessed heavy call writing, with open interest rising to 53.04 lakh contracts, establishing it as a major resistance zone. Conversely, the 24,500 strike holds the highest put open interest at 45.96 lakh contracts, reinforcing it as immediate support. Notably, put writers have regained confidence by re-establishing positions closer to the current market price, while call writers have begun covering their positions. This positioning hints at growing optimism among market participants. The Put-Call Ratio (PCR) has surged from 0.60 to 1.02, reflecting strengthening bullish sentiment and a clear shift in favour of put sellers.
Nifty Outlook Today By Dhupesh Dhameja, Derivatives Research Analyst, SAMCO Securities
Index formed a bullish candlestick near its psychological support, signalling a strong intraday reversal. The bullish pin bar pattern underscores the buyers' determination to defend key levels and form a sustainable base. A follow-through above Thursday’s high could validate this reversal and potentially propel the index towards the 24,780–24,800 resistance zone. The recent upmove appears primarily driven by short covering and mean-reversion trades after an extended decline. Immediate support lies at 24,450, aligning with a previous demand zone. Unless breached decisively, any dip is likely to attract fresh buying interest. The Relative Strength Index (RSI) on the daily chart hovers around 40 but has started showing a positive divergence, hinting at easing bearish momentum. Intraday indicators also signal a reversal from oversold territory. The overall structure remains oversold, suggesting that any pullbacks may offer opportunities to initiate fresh long positions as optimism gradually returns.
On the other hand, with the release of their Q1 results yesterday, LIC, Titan Company, Cummins India, HPCL, and Godrej Consumer Products will be the center of attention.
Sign in with Google