Share Market News Live: Sensex rises 160 points, Nifty at 12,680; Maruti, ONGC, Nestle, L&T top gainers

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© India Today Group Share Market News Live: Sensex rises 160 points, Nifty at 12,680; Maruti, ONGC, Nestle, L&T top gainers

Sensex, Nifty LIVE Updates on November 11: Market indices opened on a bullish note on Wednesday, amid positive global equities. Sensex was rising 160 points to 43,442 and Nifty gained by 49 points to 12,680. SGX Nifty on the Singapore Exchange was rising by 50 points, indicating a positive trend in domestic grounds today. Meanwhile, September quarterly earnings announcements by Coal India, Aurobindo Pharma, Godrej Industries, Indiabulls Housing Finance, GIC Housing Finance, LIC Housing Finance, Bharat Forge, Ashoka Buildcon will also set the tone for the stock market today. Yesterday, Sensex ended 680 points higher at 43,227 and Nifty rose 170 points to 12,631.

Here’s a look at the updates of the market action on BSE and NSE today

9. 20 AM: Nifty outlook

Ajit Mishra, VP – Research, Religare Broking said,”Nifty is not showing any sign of slowing down and may take a breather around 12,800. Traders should align their positions accordingly and use dips to accumulate stocks that are participating in the rally.”

9. 12 AM: Nifty outlook

Reliance Reserach said in its note,”NSE-NIFTY extended gain post a strong start for the week. Yesterday, the index recorded new life-time-high of 12,644 level on back of up-beat global cues and also, due to buying across rate sensitive sectors. However, overall market breadth turned from positive to negative after five trading sessions. Though its key technical indicators are positively poised, tested overbought zone. As mentioned earlier, our bullish view will remain intact, but near-term consolidation or some decline cannot be ruled out, as the index is near to its strong resistance point- 12,800 mark. On the lower side, its 20-day and 50-day EMA will act as a strong support for the index, which are placed at 11,960 and 11,680 levels, respectively. As for the day, support is placed at around 12,523 and then at 12,415 levels, while resistance is observed at 12,692 and then at 12,752 levels.”

9.08 AM: Earnings today

Investors are also awaiting Sept quarter earnings reports will provide a clear picture of the disruption caused by the coronavirus pandemic-induced lockdown. Coal India, Aurobindo Pharma, Aban Offshore, Abbott India, Ansal Housing, Apollo Hospitals Enterprise, Ashapura Minechem, Ashoka Buildcon, Astra Microwave Products, Bharat Forge, Computer Age Management Services, GIC Housing Finance, Godrej Industries, Garden Reach Shipbuilders & Engineers, GSPL, Indiabulls Housing Finance, IFCI, Indraprastha Gas, ITI and LIC Housing Finance among others will be reporting their Q2 earnings today.

8. 50 AM: FII action

Foreign portfolio investors (FPIs) bought shares worth Rs 5,627.32 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 2,309.19 crore in the Indian equity market on 10 November, provisional data showed.

8. 40 AM: Technical outlook

Geojit Financial Services said in its note,” The gapped up opening should take us closer to the PRZ of 12800 discussed yesterday. Big range moves are expected, calling for deft handling so as not to end up on the wrong side. The potential reversal zone, needs confirmation as the ongoing momentum has potential for 13400-13700. Towards this end, until a pull back below 12400 unfolds, it may be safe to play the prevailing uptrend.”

8. 30 AM: Closing on Tuesday

Benchmark equity indices closed over 1.4% higher on Tuesday to hit fresh all-time highs amid gains across the key global equities as news about the COVID-19 vaccine bolstered investor confidence. Extending gains for the seventh straight session, Sensex ended 680 points higher at 43,227 and Nifty rose 170 points to 12,631.