Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices colncluded Thursday’s volatile session on a mixed note. The BSE Sensex closed in green above 59,900 while NSE Nifty 50 ended in red below 17,650. The NSE Nifty 50 fell 5.90 points or 0.03% to 17,610.40 and NSE Nifty 50 rose 224.16 pts or 0.38% to 59,932.24. Britannia, ITC, IndusInd Bank, Hindustan Unilever and Infosys were the top gainers while Adani Enterprises, Adani Ports, UPL, HDFC Life nd Eicher Motors were the laggards.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates Thursday February 2
Britannia, ITC, IndusInd Bank, Hindustan Unilever and Infosys were the top gainers while Adani Enterprises, Adani Ports, UPL, HDFC Life nd Eicher Motors were the laggards.
The NSE Nifty 50 fell 5.90 points or 0.03% to 17,610.40 and NSE Nifty 50 rose 224.16 pts or 0.38% to 59,932.24.
Adani Enterprises shares fell 21.69% to Rs 1667.00, Adani Ports shares fell 6.13% to Rs 462.00, Adani Power shares fell 4.98% to Rs 202.15, Adani Transmission shares fell 10% to Rs 1557.25, Adani Green Energy shares fell 10% to Rs 1038.05, Adani Total Gas shares fell 10% to Rs 1711.50 and Adani Wilmar shares fell 4.99% to Rs 421.45.
“The US Fed meeting announced another rate hike of 25 bps taking the fed rate range to 4.50-4.75%. This came after a series of 75bps rate hikes was slowed to 50bps in the previous meeting. Post the hike, the fed rates are now at their highest level in the past 16 years. In our view, there are positives to take from the Fed meeting outcome as policymakers are starting to believe that their actions have had the desired impact in easing inflation and hence there is room to balance future policy actions taking growth and unemployment into perspective as well. Macro data over next few months would be important to help ease further and set up markets for the next phase of monetary policy.” – Vivek Goel, Joint Managing Director, Tailwind Financial Services.
Anmol India, Zuari Agro Chemicals, Bombay Burmah Trading Corporation, Tokyo Plast International, Omaxe, Marshall Machines, Galaxy Surfactants are the top volume gainers of the day on NSE. ITC, SBI, Bajaj Finance, L&T, Infosys, NTPC are among the volume toppers on the BSE Sensex-30 index.
Alternatively, 84 stocks including Sanofi India, Adani Transmission, Zydus Wellness, Whirlpool of India, Gland Pharma, Godrej Properties, Adani Green Energy, Central Depository Services (India), Tide Water Oil Company (India), Bombay Burmah Trading Corporation, IFB Industries, Natco Pharma are at 52 week lows.
On the NSE Nifty, 37 stocks hit their 52 week highs including Fourth Dimension Solutions, The Anup Engineering, Apar Industries, Baid Finserv, Bharat Bijlee, Blue Star, Britannia Industries, Bombay Super Hybrid Seeds, GRP, IIFL Finance, ITC, Jindal Saw, Kaynes Technology India, Polycab India, PNC Infratech, Sterling Tools among others.
On the flip side, 124 stocks fell to their 52 week lows. Zydus Wellness, Shivalik Rasayan, Shree Pushkar Chemicals & Fertilisers, SIS, Steelman Telecom, Supriya Lifescience, Globe Commercials, Whirlpool of India, Valiant Organics, Tide Water Oil (India), Sanofi India, Paras Defence and Space Technologies, Punjab Chemicals and Crop Protection, Quint Digital Media, POWERGRID Infrastructure Investment Trust, Neelamalai Agro Industries, KFin Technologies, Mangalam Organics, Adani Green Energy, Adani Ports and SEZ, Adani Transmission and others were among these scrips.
On the BSE Sensex, 63 stocks rose to hit fresh 52 week highs. Yuranus Infrastructure, Yash Management, Sterling Tools, Transvoy Logistics India, SKM EGG Products Export (India), Shreeshay Engineers, Sera Investments & Finance India, Vinny Overseas, Vippy Spinpro, VXL Instruments, Polycab India, Titan Intech, Ratnamani Metals & Tubes, MPS, Mold-Tek Packaging, Mkventures Capital, Lotus Chocolate, Linc, Manaksia, Kaynes Technology India, KEI Industries, IIFL Finance, IFL Enterprises, ITC, Acrow India, The Anup Engineering, Apar Industries, Bharat Bijlee and many others were among those to hit these highs.
On the NSE Nifty index, the top winners are ITC, Britannia, IndusInd Bank, Infosys and M&M, with ITC up 5.42%. The biggest laggards are Adani Enterprises, UPL, HDFC Life, Hero MotoCorp and NTPC, with Adani Enterprises down 8.54%.
“Increased personal income taxes rebate to 7 lakhs will reduce the effective tax rate for the salaried class and is a big boost to personal consumption. Sectors like housing, autos and banks likely to benefit from this. There is no direct extra benefit given to housing in terms of deduction of interest expenses but reduced personal income taxes will indirectly benefit the housing sector.”
– Manu Rishi Guptha, Founder and CEO, MRG Capital
“In the sectoral domain, over the last 7 years, the metal sector exhibited positive returns 5 times in the post-budget month. The sector that outpaced other sectors is Energy, giving positive returns twice. The third sector which has been on our list is media, which closed in green twice, though the average return is negative for the last 7 years. Considering the impetus given to the agriculture sector and a ten-fold rise in the outlay for railways, the respective equities, as well as infra stocks, would be in focus.” – Master Capital Services, Director, Gurmeet Singh Chawla.
Bank Nifty is trading 229 points or 0.57% lower at 40,283.10 in the mid-day session. IDFC First Bank, AU Bank, IndusInd Bank, PNB and Federal Bank are the top gainers while Bandhan Bank, Bank of Baroda, HDFC Bank, State Bank of India (SBIN) and Kotak Bank were the top losers.
ITC shares touched a fresh 52-week high of Rs 384.0, rising over 5% on Thursday. The company’s shares fell 6% on Wednesday after Finance Minister Nirmala Sitharaman hiked calamity duty on cigarettes and tobacco products by 16%, but recovered within minutes. The market was largely worrying either a hike in excise duty or NCCD duty on cigarettes and tobacco products, as the last tax hike was announced three years ago. The Budget for FY21 had increased the National Calamity Contingent Duty (NCCD) by 2-4 times across cigarette stick sizes, resulting in tax hikes of 9-15%.
Adani Enterprises shares tanked 10% in the morning trade as chairman Gautam Adani decided to call off the Rs 20,000 follow-on public offer (FPO). Adani Enterprises shares on 1 February ended a two-day winning streak to settle lower by 26.7% at Rs 2,179.75. The sharp fall in the share price for two consecutive sessions comes after the Adani Enterprises FPO, with a floor price of Rs 3,112, was fully subscribed.
Top gainers on the Sensex were ITC, HCL Tech, Infosys, Tech Mahindra and TCS while State Bank of India (SBIN), ICICI Bank, Bajaj Finance, HDFC and HDFC Bank were the top losers.
NSE Nifty 50 Nifty fell 162.95 points or 0.92% to 17,453.35 and BSE Sensex slipped 408.92 pts or 0.68% to 59,299.16.
Equity indices ended the pre-opening session in the red. NSE Nifty 50 fell 99.20pts or 0.56% to 17,517.10 and BSE Sensex slipped 248.21 pts or 0.42% to 59,459.87.
“The market is expected to open in the red on February 2 as trends in the SGX Nifty indicate a negative opening for the broader index in India. As per the pivot charts, we have the key support level for the Nifty at 17,411, followed by 17,265, and 17,028. If the index moves up, the key resistance levels to watch out for are 17,884, followed by 18,030 and 18,266. The S&P 500 and the Nasdaq closed sharply higher on Wednesday after Federal Reserve chair Jerome Powell acknowledged that inflation was starting to ease. HDFC, Tata Consumer Products, Titan Company, Aditya Birla Capital, Aegis Logistics, Apollo Tyres, Bajaj Electricals, Berger Paints India, Birlasoft, Cera Sanitaryware, Coromandel International, Crompton Greaves Consumer Electricals, Dabur India will be in focus ahead of quarterly earnings on February 2.” – Ameya Ranadive, Equity Research Analyst at Choice Broking.
Ambuja Cements is the stock/security placed on the National Stock Exchange’s futures and options (F&O) ban for trade on Thursday, February 1. According to the NSE, the stock mentioned above is prohibited in the F&O sector because it has 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.
The US equity market ended marginally in the green on Wednesday, after Federal Reserve slowed the rate hike pace, increasing the key interest rate by 25 basis points. The Dow Jones Industrial Average rose marginally by 6.92 pts or 0.02% to 34,092.96, S&P 500 climbed 42.61 pts or 1.05% to 4,119.21 and Nasdaq closed 231.77 pts or 2% lower at 11,816.32.
“Life insurance stocks witnessed significant selling on demand concerns as the budget proposals made life insurance schemes less appealing as a tax-saving instrument. The Union Budget has provided a higher impetus for individuals to shift to the new tax regime, which does not favour tax exemptions from investments in insurance schemes. Adding concerns to the growth outlook, it was also proposed to tax the income earned from life insurance products (other than ULIPS) issued after April 1, 2023, where the total annual premium exceeds Rs. 5 lakh. This has taken away the tax-free advantage of high-value traditional insurance policies, making them less attractive for investments. These proposals have come as a big blow to the sector, which had hoped for positive measures from the government to improve its penetration. This has caused investors to reconsider the sector's growth prospects, forcing them to stay side-lined.” – Cyril Charly, Research analyst at Geojit Financial Services.
“The Union Budget of India has a significant impact on the country's economy, interest rates, and stock markets. The stock market's performance generally reflects the state of the economy. Stock prices and interest rates also have a protracted relationship. The budget was well-balanced and growth-oriented. Markets initially welcomed this budget with enthusiasm. Later, the Adani Group stole the stage when its stocks crashed, significantly depressing market sentiment. Although yesterday's FOMC meeting was significant, the Adani drama is the main event that the market will be focusing on.” – Parth Nyati, Founder, Tradingo.
“The Adani group stock came under pressure again on February 1 with stocks hitting the lower circuit and the circuit was just opened before the closing bell. Adani Enterprises closed at Rs 2135.35, down 28.20 percent and Adani port touched 52- week low of Rs 459.50 and closed at Rs 495.15 with a 19.18 percent fall. Technically, both the stocks have closed below their 50 & 100 EMA on the daily as well as the weekly chart indicating a strong bearish scenario. Both stocks are also trading below their major trend line resistance. For Adani Enterprises, the maximum open interest (OI) build-up is seen at 2,200 Put and 3,000 Call Options. For Adani Ports, maximum OI build-up is seen at 450 Put and 700 & followed by 600 Call options. The Open Interest for Adani Enterprises has increased by 8.1% and for the Adani Ports it has increased by 5.08%. The overall option data suggests a broad trading range is likely to be witnessed in these stocks from the Adani group with high volatility on the cards.” – Rohan Patil, Technical Analyst, SAMCO Securities.
Hong Kong’s Hang Seng index rose 0.69%, while in mainland China, the Shanghai Composite dipped 0.10% and the Shenzhen Component was down 0.26% in its first hour of trade. South Korea’s Kospi rose 1%, and Japan’s Nikkei 225 traded just above the flatline.