Share Market News Today | Sensex, Nifty, Share Prices Highlights: Benchmark indices pared early gains and ended Tuesday’s session flat. The NSE Nifty 50 closed at 18,265.95 and BSE Sensex settled at 61,761.33. In sectoral indices, Bank Nifty fell 85.85 points or 0.2% to 43,198.15, Nifty PSU Bank tanked 113.3 points or 2.75% to 4,001.8 while Nifty IT jumped 204.55 points or 0.73% to 28,125.5. The top gainers on Nifty 50 were Divis Lab, IndusInd Bank, Coal India, TCS and Axis Bank while the losers were UPL, ITC, SBIN, Bajaj Finance and JSW Steel.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
“Nifty overall picture is favourable, and the market will continue to buy on dips until the critical support level of 17950 on the downside is not breached. The volume profile indicates Index has strong support around the 17950-18050 zone. Coming to the OI Data, on the call side, the highest OI was observed at 18300 followed by 18500 strike prices while on the put side, the highest OI is at 18200 strike price,” said Deven Mehata, Equity Research Analyst at Choice Broking.
“Nifty support levels are 18130, 18060 and 17990. Nifty next possible targets are 18320, 18430 and 18550 which will act as resistance too,” said Ashish N. Ambala (Sr. Technical Analyst), Stock Market Today (SMT).
“On the daily charts, the Nifty and BSE Sensex have formed a bullish candle and closed comfortably above it, which is positive for the indices in the medium term. Now 18200-18150/61450 will be an important support zone for the trend-following traders. Above that the indices can go up to 18300-18450/62000-62300. On the other hand, the uptrend below 18100/61150 would be weak.,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
“There is no concrete evidence that the consolidation is complete and hence we change our outlook on the Nifty to sideways from negative. The range of consolidation is likely to be 18000 – 18300. In terms of levels, 18130 – 18110 shall act as a crucial support zone while 18330 – 18350 shall act as an immediate hurdle zone for the Nifty,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“As long as the index remains above 18000, short-term trends should be positive. If Nifty surpasses 18300 & closes above this level, it can see more upward move with a possible target of 18500-18600. Support seen at 17961, 18031 and 18147 while resistance at 18334, 18404 and 18521,” said analysts at Stoxbox.
NSE Nifty 50 first support at 18195 and then 18072 while resistance at 18392 and 18467, according to Rahul Sharma, JM Financial.
The National Stock Exchange has Manappuram Finance, BHEL and GNFC securities on its F&O ban list for 9 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 2,123.76 crore, while domestic institutional investors (DII) purchased shares worth net Rs 245.27 crore on May 9, according to the provisional data available on the NSE.
Oil prices fell in early trade on Tuesday, paring strong gains from the previous two sessions as markets remain cautious ahead of U.S. inflation figures for April which will be key to the Federal Reserve‘s next interest rate decision. Brent crude price was down 31 cents, or 0.4%, at $76.70 and U.S. West Texas Intermediate (WTI) crude lost 23 cents, or 0.3%, to trade at $72.92 at 0005 GMT.
The US market ended Monday’s session mostly flat – Dow Jones Industrial Average (DJIA) fell 0.17%, S&P 500 rose 0.05% and the tech-heavy Nasdaq was up 0.18%. On Monday.
Asian markets were trading mixed – Hong Kong’s Hang Seng fell 0.42%, China’s Shanghai Composite rose 0.03%, South Korea’s KOSPI dipped 0.37% and Japan’s Nikkei 225 jumped 0.7% on Tuesday.
The Nifty futures on the Singapore Exchange (SGX) were trading 25.5 points or 0.14% lower at 18,324.5 in today’s early morning trade.