Sensex Today: Stock LIVE Updates: Sensex drops 150 points, conveniently below 17,900; Sona Comstar tanks 5% post block deal; Bajaj Finserv wins 6%

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Market view: Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

The Fed’s minutes suggest a continuation of the aggressive stance and this could have a slight impact on sentiment in its parent market, the US. But this is unlikely to affect bullish sentiment in India as the return of the FIIs has completely changed the market mood and the bulls are now in control. Dips are likely to be bought in the near term.

From a fundamental perspective, there are no triggers to bring the market much higher than current levels as there is no valuation comfort. Nifty is now trading at about 21 times earnings for FY23. It looks like the market is counting on continued good GDP and earnings growth this year and the next. If growth momentum continues, capital goods and autos will attract more purchases.

SONA COMSTAR: 16% Shares Traded in a Block Deal

SONA COMSTAR: 16% Shares Traded in a Block Deal

OPENING BELL: Sensex drops 150 points, conveniently below 17,900; DRL, SBI Card tank 3% each

OPENING BELL: Sensex drops 150 points, conveniently below 17,900;  DRL, SBI Card tank 3% each

Rupee opens 0.20% to 79.60 per US dollar; previous close 79.4450

Rupee opens 0.20% to 79.60 per US dollar;  previous close 79.4450

Asia Stocks Ease, Dollar Holds After Fed Minutes

Asian stocks were lower on Thursday, in line with Wall Street’s losses, as even the prospect of a less aggressive Federal Reserve has still put the US central bank on track to keep interest rates high for longer.

SGX Nifty signals a negative start

Handy futures on the Singapore Exchange traded 19 points, or 0.11%, lower at 17,949, indicating Dalal Street was headed for a negative start on Thursday.

Oil prices fall as Russian production rises

Oil prices fell on Thursday and reversed from the previous session as rising production from Russia and concerns about a possible global recession weighed on futures. Brent oil futures fell 33 cents, or 0.4%, to $93.32 a barrel. US crude oil futures fell 40 cents, or 0.5%, to $87.71 a barrel.

Tokyo shares open lower after US losses

Tokyo shares opened lower on Thursday after losses in the US, while investors held onto gains after recent market gains. The headline Nikkei 225 index fell 0.93 percent or 273.02 points to 28,949.75 in early trading, while the broader Topix index lost 0.76 percent or 15.35 points to 1,991.64.

Tech View: Nifty50 in overbought zone, but no signs of weakness

There are no signs of weakness. In any case, momentum picked up after a few days of narrow-range trading. That said, the index shows an overbought reading of 83 on the 14-day Relative Strength Index (RSI) and can take hurdles around record highs.

Wall Street Ends Down, But Indices Cut Losses Short After Fed Minutes

US stocks closed lower on Wednesday, with indices volatile after minutes from the Federal Reserve meeting in July suggested policymakers could be less aggressive than previously thought as they raise interest rates in September.

Rupee rises 29 paise to 79.45 against the US dollar

The rupee gained 29 paise and settled at 79.45 against the US dollar on Wednesday, after hefty purchases of domestic stocks and ongoing foreign capital inflows boosted investor sentiment.

Sensex, Nifty on Wednesday

The package of 30 shares was up 417.92 points at 60,260.13. Its wider peer, Nifty50, moved up 119 points to surpass 17,900. This was the seventh consecutive day of gains for the index.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader!  Here's something to kickstart your trading day

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