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Both indices, <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword>, opened the day in red. As of 9:30 am, Nifty was down by 0.27%, trading at 24,546.35 points, while Sensex was down by 0.30%, trading at 80,475.63 points. All broad market indices opened the day in red except for India VIX which climbed up by 2.61%. Only Nifty IT opened the day in green with marginal gains of 0.29%, while media slipped by over 2% in early morning trade. In early morning trade, LTI Mindtree, Axis Bank, <keyword id="6354512" type="General" weightage="20" keywordseo="Infosys" source="Orion">Infosys</keyword>, Wipro and Tech Mahindra gained significant ground, while Bajaj Auto, Asian Paints, Eicher Motors, Hero Moto Corp and Cipla were amidst the leading laggards. Asian Paints declared its Q1FY25 results yesterday, which saw its quarterly net profit take a hit of about 25% to stand at Rs 1,170 crore. Infosys, Persistent Systems and <keyword id="20130840" type="General" weightage="20" keywordseo="polycab-india" source="keywords">Polycab India</keyword> will be declaring their Q1 FY25 results during the day. Sameet Chavan, Head Research, Technical and Derivatives at Angel One, notes that there have been no significant developments in the benchmark index, indicating a lack of substantial price movement. Specifically, the price structure has remained stagnant within a narrow range. The Nifty's trading range has notably shrunk to 80 points, making it more challenging for traders to navigate. However, despite this, the broader markets have continued to see active participation, which has contributed to maintaining a positive undertone for market participants. The support zone for Nifty is at 24,500–24,400, which is expected to see buyers stepping in when there are dips. However, it's not entirely clear if the trend will continue at higher levels, he added. "Currently, market participants are closely monitoring sectoral rotation and <keyword id="22454094" type="General" weightage="20" keywordseo="thematic-movers" source="keywords">thematic movers</keyword>, which are playing a pivotal role in driving market trends. It is advisable to continue observing and analyzing these movements until the key indices show a resurgence in momentum. Furthermore, it is essential to maintain a keen watch on global developments following the mid-week holiday, as these factors could significantly influence and establish the initial market sentiment," Chavan noted. Mr. Aditya Gaggar, Director of Progressive Shares, notes that after oscillating in a tight range, the index settled on July 16th, trading marginally higher at 24,613. Back-to-back DOJI candles at record levels indicate rejection at the higher levels; however, with each passing day, the support level is shifted higher, and now the immediate support is placed at 24,500. "An early indication from GIFT Nifty suggests a muted opening of the Indian equities, and we believe that the rangebound activity will continue. The same view holds for BankNifty. By registering a new high daily, the FMCG segment is performing as per our expectations, and we continue to maintain a positive stance. In the energy space, gas stocks are likely to extend their positive momentum (IGL and Petronet). After a day of correction, the IT sector resumed its uptrend. We are overweight in the sector (Tech Mahindra). Bearish divergence in the pharmaceutical sector indicates a temporary pause in its uptrend", he said.

Stock market today: Sensex, Nifty open in red, media slips by 2% as IT manages marginal lead

<ul><li><keyword id="302749" type="COMPANY" weightage="60" keywordseo="Alibaba">Alibaba</keyword>'s blowout Singles Day sales wasn't enough to stem investor concerns of increased regulatory pressure as shares slid as much as 9% on Tuesday.</li><li>The company's extended Singles Day sales event registered more than $56 billion in sales in its first 10 days and 30 minutes of the event, according to the company.</li><li>But pressures remain heightened for the Chinese ecommerce giant, given last week's delayed IPO of Ant Group and as China releases a new draft of anti monopoly rules for online platforms. </li><li><a href="https://www.businessinsider.com/?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestutm_source=msn.com&amp;utm_medium=referral&amp;utm_content=msn-slideshow&amp;utm_campaign=bodyurl?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestsource=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Visit the Business Insider homepage for more stories</a>.</li></ul>Initial sales for <a href="https://markets.businessinsider.com/stocks/baba-stock">Alibaba's</a> Singles Day event were massive, soaring past $56 billion in the first 10 days and 30 minutes of the extended event, according to the company. But that wasn't enough to stem investor concerns over increasing regulatory pressures building from Beijing on Tuesday.Shares of Alibaba slid as much as 9% in Tuesday trades after Chinese regulators released a new draft of anti-monopoly rules that could target online platforms, <a href="https://www.wsj.com/articles/chinas-regulators-prepare-to-roll-out-new-antimonopoly-rules-11605013205">according to The Wall Street Journal.</a>The news comes just one week after regulators <a href="https://markets.businessinsider.com/news/stocks/ant-group-ipo-suspended-shanghai-hong-kong-china-regulators-2020-11-1029758861?utm_source=markets&amp;utm_medium=ingestgest">abruptly suspended the highly anticipated IPO of Ant Group</a>, which is partially owned by Alibaba. The debut of Ant Group, <a href="https://markets.businessinsider.com/news/stocks/ant-group-ipo-billion-largest-ever-jack-ma-alibaba-raise-2020-10-1029721033#">which was expected to be the largest IPO in history</a>, <a href="https://markets.businessinsider.com/news/stocks/ant-groups-ipo-could-be-delayed-more-than-6-months-2020-11-1029771064">is now expected to be delayed up to 6 months at least. </a>China's State Administration for Market Regulation said on Tuesday that it's seeking feedback on a variety of anti-monopoly rules like offering different prices to different consumers for the same product based on the use of data and algorithms, according to The Journal. Read more: <a href="https://www.businessinsider.com/goldman-sachs-buy-stocks-to-benefit-from-these-four-trends-2020-11?r=gr-sub" target="_blank" rel="noopener">Goldman Sachs combed through hundreds of earnings transcripts to arrive at the 4 themes S&amp;P 500 companies embraced this quarter - and shared the dozens of stocks set to benefit from these thematic trends</a>Other practices that could be targeted by regulators include inflating prices or pricing products below costs, or the use of market influence to restrict sales on competing platforms. According to the Journal, the new set of regulations from Chinese authorities could be in an effort to ensure the competitive landscape in the online marketplace is fair as the government seeks to encourage domestic consumption over the next five years. This new set of rules, if implemented, could negatively impact tech behemoths like Alibaba and Tencent and potentially hinder years of uninterrupted growth.<div type="image" title="alibaba chart.JPG" height="639" width="830" msid="79159877" hostid="261"></div>

Alibaba slides 9% as regulatory pressure overshadows Singles Day blowout

Both market indices (<keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword>) opened flat, albeit in green. As of 10:00 am, Sensex had breached the 80,000 mark and up by 0.46% while Nifty inched up by 0.44% to trade at 24,392.25 points. <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword>, ICICI Bank, Infosys, Hindalco, and HCL Tech took the lead in the early morning trade, while HDFC Bank, Cipla, Dr. Reddy, Adani Entertainment, and Eicher Motors were among the laggards. As for broad market indices, all of them except India <keyword id="315980" type="General" weightage="20" keywordseo="VIX" source="Orion">VIX</keyword>, which was down by 1.51%, opened in green. Amidst sectoral indices, <keyword id="19936673" type="General" weightage="20" keywordseo="media" source="keywords">media</keyword> (down by 0.17%) and healthcare (down by 0.09%) opened in red, while <keyword id="6354185" type="General" weightage="20" keywordseo="IT" source="Orion">IT</keyword> took a significant lead of over 1% in early morning trade. Banknifty inched up marginally by 0.14% during the early trade. As per Mr. Aditya Gaggar, Director of Progressive Shares, "banking counters-led rally propelled the index to end the session at a fresh high of 24,287. An early indication from the <keyword id="17430379" type="General" weightage="20" keywordseo="GIFT-Nifty" source="Orion">GIFT Nifty</keyword> suggests a strong start for Indian equities. Among the sectors, the PSU segment regained momentum (BHEL, IREDA, GPPL, and HUDCO). "From the <keyword id="34523" type="General" weightage="20" keywordseo="FMCG" source="Orion">FMCG</keyword> segment, Tata Consumer looks strong. In the oil and gas space, Castrol Ltd has given a major breakout, but considering a strong upmove, buying on dips will be an ideal strategy. Some metal counters are on the verge of a strong breakout, while selective buying is likely to persist in the pharma space. Once again, agro/specialty counters have shown strong momentum, and we believe it will continue further," he elaborated. Sameet Chavan, Head Research, Technical, and Derivatives, Angel One, notes that the market is clearly in a bullish phase, even with extended parameters. The thematic movers are certainly adding appeal to the market. From a technical standpoint, it is very challenging to determine resilience, especially when the undertone is highly robust. Still, with the prevailing overbought parameters, it is advisable to maintain proper risk management and keep booking profits at regular intervals. On the lower end, 24,100–24,000 withholds an intermediate cushion, and a decisive breach below the same could only trigger some further cool-off in the benchmark. "Looking ahead, we maintain a positive outlook on the market's undertone. However, we advise caution and not to be swayed by daily developments. The potential for thematic moves is clear, and it's these opportunities that can lead to significant outperformance for traders," he cautions. Even Shrikant Chouhan, Head of Equity Research, Kotak Securities, believes that the uptrend is likely to continue. " Above 24.200/79,600, the market may rise to 24.400–24,500/80,200–80,500. However, below 24,200/79,600, its structure may change and fall to the next support zone, 24,000/79,000 levels", he notes. As for gold, its prices surged over 1% to a near two-week high on Wednesday, spurred by growing expectations of a September interest rate cut by the Federal Reserve. This sentiment was largely fueled by recent U.S. data indicating a softening labor market, with a rise in first-time unemployment applications and jobless rolls reaching a 2-1/2 year high. The yellow metal is expected to remain buoyant in near future.

Stock market today: Sensex crosses 80k, IT takes early lead

Both <keyword id="20204377" type="General" weightage="20" keywordseo="indices" source="keywords">indices</keyword>, <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> were trading in red in early morning trade. Nifty opened at 24,213.35 points, and was down by 0.37% at 24,212.85 points, as of 9:45 am. Sensex, which opened at 79,778.98 points, was down by 0.49% at 79,653.45 points. As for broad <keyword id="19913381" type="General" weightage="20" keywordseo="market" source="keywords">market</keyword> indices, the Nifty 100, 200, 500, and India VIX opened the day in red. Amidst sectoral indices, the Nifty auto, bank, financial services, metal, realty, and private banks were in red during early morning trade. Infact, Nifty Bank, financial services, and private banks registered over 1% fall, while <keyword id="6363818" type="General" weightage="20" keywordseo="pharma" source="Orion">pharma</keyword> and healthcare gained over 1% in early trade. Cipla, Divis Labs, Bajaj Auto, <keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword>, and JSW Steel took early leads during morning trade today, while HDFC bank, Titan, Mahindra and Mahindra, Tata Steel, IndusInd, and ICICI Bank were among the laggards. According to Mr. Ad<keyword id="19989715" type="General" weightage="20" keywordseo="IT" source="keywords">it</keyword>ya Gaggar, director of Progressive Shares, "From the past couple of days, it seems that the index is finding it difficult to hold higher levels, and bearish divergence in RSI indicates a weakening of momentum. The auto sector has been oscillating in a well-maintained range, breakout is imminent. The IT sector is on the verge of a massive breakout, and one can expect a strong outperformance after the pattern breakout. With a strong bullish candle, the pharmaceutical sector emerged from its congestion, indicating a resumption of its uptrend (Laurus Labs, Lupin, and <keyword id="20126885" type="General" weightage="20" keywordseo="zydus-life" source="keywords">Zydus Life</keyword>)". As Shrikant Chouhan, Head of Equity Research, Kotak Securities notes, one should consider buying the Nifty/Sensex if it drops to 24,200/79,700 levels."Benchmark indices continued the positive momentum, with Nifty/Sensex recording a new all-time high of 24,401/80,392.64. Across sectors, pharma, healthcare, and IT indices gained over 1%, while some profit booking was witnessed in select media and financial stocks". "After a promising uptrend rally, the market is witnessing non-directional activity at higher levels; perhaps traders are waiting for a breakout on either side. For day traders, 24,400/80,390 would be the immediate breakout level. Above that, the market can move up to 24,500–24,525/80,700–80,800. Below 24,400, the market can retest 24,200–24,165/79,700–79,550 levels", he continued. Sameet Chavan, Head Research, Technical, and Derivative - Angel One notes that the market is showing initial signs of exhaustion. "Technically, there have been no significant changes since the last closure, but the decline from highs could be interpreted as the initial sign of exhaustion for the bulls. On the level-specific front, the highs of 24,400 could be seen as intermediate resistance for Nifty. While on the lower end of the spectrum, 24,200-24,150 is likely to provide some cushion to any upcoming blips, while 24,100-24,000 withholds the sacrosanct support in the near term. Also, taking into consideration the overbought scenario, it is prudent to maintain caution and focus on thematic movers, which have been in the play for quite some time. Looking ahead, we are optimistic and foresee continued sectoral rotation", he advises.

Stock market today: PSU, Private banks dip, pharma and healthcare take lead in early trade

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Reuters / Fabrizio Bensch</div></div></div><ul><li>Artificial intelligence is developing rapidly, and creating plentiful investment opportunities in its wake.</li><li>HSBC breaks down the areas to watch in the AI space, focusing not just on software, but also hardware on equipment.</li></ul> The robot revolution is coming. The question for <a href="http://www.businessinsider.com/category/stock-market" target="_blank" rel="noopener">stock</a> investors is - are you prepared?After all, <a href="http://www.businessinsider.com/category/artificial-intelligence" target="_blank" rel="noopener">artificial intelligence</a> (AI) will eventually decide life-shaping things like whether we're insurable or have medical coverage, while also hugely impacting transportation and resource infrastructure, says HSBC.That development is likely to carry with it major money-making opportunities. The trick is figuring out which corporations stand to benefit most."Companies that are early adopters of AI into their business may benefit from the first-mover advantage, increased productivity, reduced costs and potentially greater market shares," a group of HSBC global equity strategists led by Ben Laidler wrote in a client note.The firm notes that automation and AI are one of the most under-owned thematic plays. In other words, there's upside waiting for investors savvy enough to grab it.The chart below shows just how many billions of dollars are set to be unlocked in the coming years - and highlights the specific areas that will generate that growth.<div class="KonaFilter image-container display-table"><div><div class="image on-image">HSBC</div></div></div>In order to help in the stock selection process, HSBC has identified three primary categories - areas that focus on the hardware components and technology needed to support AI. This is where the firm thinks there's ample opportunities - not necessarily just in software, but also in machinery and tools.Here are the group (all rationale from HSBC):<ul><li>Sensors - The development of natural language processing and a range of new enhanced sensors.</li><li>Semiconductors - The high performance logic chips that are needed to analyze the data.</li><li>Infrastructure and communication - Datacenters will expand to process the data and next generation 5G will be used to receive and transmit data.</li></ul>Unsurprisingly, HSBC's stock screen is dominated by US and Korean companies. Out of the companies selected by the firm, the following have market values of more than $100 billion:<ul><li><a href="http://markets.businessinsider.com/stock/NVDA-Quote" target="_blank" rel="noopener">Nvidia</a></li><li><a href="http://markets.businessinsider.com/stock/INTC-Quote" target="_blank" rel="noopener">Intel</a></li><li><a href="http://markets.businessinsider.com/stock/HON-Quote" target="_blank" rel="noopener">Honeywell</a></li><li><a href="http://markets.businessinsider.com/stock/IBM-Quote" target="_blank" rel="noopener">IBM</a></li><li><a href="http://markets.businessinsider.com/stock/GOOGL-Quote" target="_blank" rel="noopener">Alphabet</a></li><li><a href="http://markets.businessinsider.com/stock/SI-Quote" target="_blank" rel="noopener">Siemens</a></li><li><a href="http://markets.businessinsider.com/stock/Broadcom-Quote" target="_blank" rel="noopener">Broadcom</a></li></ul>In the end, if you're as bullish on AI as HSBC, you'd be well-served to check out the sectors and companies outlined above. Because according to them, the machines are growing stronger, and with that sort of growth comes incredible opportunity. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/bitcoin-can-be-bubble-and-still-change-world-2017-12">Bitcoin can be a bubble and still change the world</a></h3> <div> </div> </div>

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Stock market today: Sensex, Nifty open in red, media slips by 2% as IT manages marginal lead

Ira Alok Puranik

Alibaba slides 9% as regulatory pressure overshadows Singles Day blowout

Matthew Fox

Stock market today: Sensex crosses 80k, IT takes early lead

Ira Alok Puranik

Stock market today: PSU, Private banks dip, pharma and healthcare take lead in early trade

Ira Alok Puranik

HSBC: Here's how to make a killing betting on the robot revolution

Joe Ciolli

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