Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended the last trading session of the week deeply in the red, dragged by HDFC twins. The NSE Nifty 50 crashed 186.8 points or 1.02% to 18,069.00 and BSE Sensex tanked 694.96 or 1.13% to 61,054.29. In sectoral indices, Bank Nifty plunged 1,024.25 points or 2.34% to 42,661.2 and Nifty Financial Services 455.5 points or 2.34% to 19,023.85. The top gainers on Nifty 50 were Titan, Maruti, UltraTech Cement, Nestle and Apollo Hospital while the losers were HDFC Bank, HDFC, IndusInd Bank, Hindalco and Tata Steel.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Benchmark indices NSE Nifty and BSE Sensex ended the last trading session of the week deeply in the red, dragged by HDFC twins. “Despite weak global markets, Indian equities remained resilient on the back of positive economic data, Healthy Q4FY23 results, and FIIs turning net buyers. FIIs bought more than Rs10k in the last six trading sessions. After the sharp rise in the last few days, Nifty is now consolidating around 18,000-18,200 zones. While the overall market structure remains positive, expect Nifty to consolidate in the near term on the back of subdued global cues and profit booking in index heavyweights. Next week market would also take cues from inflation, state election outcome and ongoing earning season,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
The top gainers on Nifty 50 were Titan, Maruti, UltraTech Cement, Nestle and Apollo Hospital while the losers were HDFC Bank, HDFC, IndusInd Bank, Hindalco and Tata Steel.
In sectoral indices, Bank Nifty plunged 1,024.25 points or 2.34% to 42,661.2 and Nifty Financial Services 455.5 points or 2.34% to 19,023.85.
The NSE Nifty 50 crashed 186.8 points or 1.02% to 18,069.00 and BSE Sensex tanked 694.96 or 1.13% to 61,054.29.
“In the intraday session, after the gap-down opening, Nifty traded below 18,150 after making a day high of 18,216 in the afternoon session & remained down throughout the day; nifty traded in a narrow range with major losses in mid-afternoon trade. After gaining for six consecutive trading sessions, private bank stocks faced selling pressure. Intraday traders can look for long opportunities only above 18,320 if the closing comes above 18,320 in a 15 min chart. Traders can look for fresh shorts only if nifty breaks the 18,000 level & remains below for 15 min to ensure short,” said Rohan Shah, head technical analyst at Stoxbox.
Nifty Financial Services crashed 448.8 points or 2.3% to 19,030.55. The top losers on the index were HDFC Bank, HDFC, REC Ltd, Power Finance Corporation and ICICI Lombard General Insurance while the gainers were Cholamandalam Investment and Finance, Indian Energy Exchange, Muthoot Finance, ICICI Bank and SBI Life Insurance.
ITI, Rane Engine Valve, Khandwala Securities, GeeCee Ventures, W S Industries (I), HLE Glascoat, Pokarna, Poddar Pigments, Restaurant Brands Asia, AGI Greenpac, TIPS Industries are among the volume gainers on the NSE index.
Alternatively, 7 stocks including BEML Land Assets, Orient Electric, Rushil Decor, Sadhana Nitrochem, Teamlease Services, Virinchi are at 52 week lows.
On the NSE Nifty, 82 stocks hit their 52 week highs including MRF, Dr. Reddy’s Laboratories, GRP, ABB India, Oracle Financial Services Software, ION Exchange (India), Siemens, Polycab India, Power Mech Projects, KEI Industries, Vindhya Telelinks, Data Patterns (India), PG Electroplast, KDDL, TVS Motor Company, Goodyear India, Carborundum Universal, Ador Welding, Sundram Fasteners, Aditya Birla Sun Life CRISIL Liquid Overnight ETF, Cholamandalam Investment and Finance Company, Cigniti Technologies, Surya Roshni, Ksolves India, Mrs. Bectors Food Specialities, Apollo Tyres, IHL, Mahindra & Mahindra Financial Services and ITC among others.
On the NSE Nifty, 57 stocks hit their upper price band. Apollo Microsystems, Sanghi Industries, Rane Engine Valve, AGI Greenpac, Mirza International were among the scrips. 23 stocks hit their lower price band including Avro India, RS Software, Spacenet Enterprises. 8 scrips hit both bands.
On the NSE Nifty index, the top winners are Titan, Maruti Suzuki, Adani Enterprises, L&T, UltraTech Cement, with Titan down 3.23%. The biggest laggards are HDFC Bank, HDFC, Tata Steel, Hindalco and UPL, with HDFC Bank lower by 5.4%.
HDFC Bank, HDFC, ICICI Bank, Adani Enterprises and Axis Bank are the most active Nifty 50 stocks intraday.
The sectoral indices traded mixed as Nifty Media, Nifty Financial Services, Bank Nifty and Nifty Metal declined up to 1.5% while Nifty Consumer Durables gained 1.65% and Nifty Auto rose 0.75%.
The broader markets were largely red as Nifty Smallcap 50 dropped 0.66% while Nifty Midcap 50 was lower by 0.46%.
Bank Nifty tanked 695.65 points or 1.59% to 42,989.8. The top losers on the index were Federal Bank, HDFC Bank, IndusInd Bank, AU Bank and Bandhan Bank while the gainers were ICICI Bank, Axis Bank, SBIN and Kotak Bank.
Gold rate is trading flat on Friday, while the silver rate is up 0.23%. On Multi Commodity Exchange, gold June futures were trading at Rs 61,469 per 10 grams, down Rs 24 or 0.04%. Silver May futures were trading higher by Rs 182 at Rs 78,220 per kg on MCX.
Adani Ports & Special Economic Zone shares jumped 1.37% to Rs 688.9 after the company said that it has concluded the Myanmar Port sale for a total consideration of $30 million.
Gold bulls heard what they were waiting for. After 10 consecutive rate hikes the Fed signaled that they may finally enact a pause of further rate increases at the next FOMC meeting in June. According to the CME’s FedWatch tool, there is a 79.5% probability that the Federal Reserve will pause at its June FOMC meeting and maintain its current benchmark rate between 5% and 5.25%. Gold futures which were trading in range of $1980 to $2020 prior to the event broke out from the range and are now flirting near record high in COMEX. It had already hit a high of $2085.40 briefly before retracing back around $2040. In MCX, it has already breached record high levels.
Tata Power share price fell 0.83% to Rs 202.05 despite the company posting 48.58% rise in consolidated net profit to Rs 939 crore for the fourth quarter ended March, beating Street estimates, led by growth across all its business verticals. The board of directors recommended a final dividend of Rs 2 per equity share.
HDFC and HDFC Bank fell up to 5% and 6% respectively, dragging domestic indices BSE Sensex and NSE Nifty. HDFC share prices hit a low of Rs 2,718, while HDFC Bank declined to touch an intraday low of Rs 1,626.2 per share.The HDFC twins tanked on suggestions made by a Nuvama report that following the merger of the private lenders, MSCI “intends to add HDFC BANK to the large cap segment of MSCI Global Standard Indexes.” This would not lead to any incremental inflows, instead would result in outflows of up to $200 million.
Adani Enterprises share price jumped 1.1% today or Rs 20.95 to Rs 1,932.2 after the Gautami Adani-led company’s net profit surged 137.4% on-year to Rs 722.48 crore in Q4FY23 as against Rs 304.32 crore in the same quarter last year. Adani Enterprises shares have risen 13% in the past one month while the stock has fallen 50% in the last 6 months. Meanwhile, the benchmark equity indices, NSE Nifty 50 and BSE Sensex tanked over half a percent in the early morning trade on Friday.
The top gainers on Nifty 50 were ICICI Bank, Adani Enterprises, Larsen & Toubro, Nestle India and Axis Bank while the losers were HDFC, HDFC Bank, IndusInd Bank, Hindalco and Dr Reddy.
In sectoral indices, Bank Nifty plunged 273.05 points or 0.63% to 43,412.4 and Nifty Financial Services tumbled 241.6 points or 1.24% to 19,237.75.
The NSE Nifty 50 fell 107.9 points or 0.59% to 18,147.9 and BSE Sensex tanked 377.02 points or 0.61% to 61,372.23.
Stock exchange clearing houses mark settlement holiday on Friday, 5 May, on account of Buddha Purnima. Trades executed in the Equity and Derivative segment on 4 and 5 May will be settled on 8 May. Although any shares purchased on 4 May will appear in T1 holdings on 5 May, selling them won’t be possible until 8 May. The next settlement holiday is on 28 June, due to Bakri Eid celebrations, which also marks a trading holiday.
The National Stock Exchange has Manappuram Finance and GNFC securities on its F&O ban list for 5 May. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
Foreign institutional investors (FII) bought shares worth net Rs 1,414.73 crore, while domestic institutional investors (DII) purchased shares worth net Rs 441.56 crore on May 4, according to the provisional data available on the NSE.
Oil prices held steady in early trading on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand. Brent crude rose 14 cents, or 0.2%, to $72.64 a barrel at 0002 GMT, while U.S. West Texas Intermediate was up 17 cents, or 0.3%, at $68.73 a barrel after four straight days of losses.
“Bank Nifty levels of 43550-43480 will act as immediate support. If this breaks down the next support level is 43490 (Ideal in case of flat or slightly gap opening). Resistance is seen at 43800, 43865, 43920 and if the price shows strength above 43920 also next target and major resistance will be at 44000-44030,” said Ashish N. Ambala, Sr, Technical Analyst at Stock Market Today.
“Bank Nifty index continued its strong momentum on the upside and surpassed the immediate hurdle of 43,500. The index remains in a strong buying momentum and one should keep a buy-on dip approach with potential targets of 44,000/44,300 on the upside. The lower-end support is at the 43,400-43,300 zone which will act as a cushion for the bulls,” said Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities.