Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Monday’s session in the red territory. The NSE Nifty 50 fell 73.10 pts or 0.42% to 17,392.70 and BSE Sensex dipped 175.58 pts or 0.30% to 59,288.35. The top gainers on Nifty were ICICI Bank, Power Grid, Kotak Bank, HDFC Life and State Bank of India (SBIN) while the top losers were Adani Enterprises, Bajaj Auto, UPL, Tata Steel and Infosys.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
The top gainers on Nifty were ICICI Bank, Power Grid, Kotak Bank, HDFC Life and State Bank of India (SBIN) while the top losers were Adani Enterprises, Bajaj Auto, UPL, Tata Steel and Infosys.
The NSE Nifty 50 fell 73.10 pts or 0.42% to 17,392.70 and BSE Sensex dipped 175.58 pts or 0.30% to 59,288.35.
Transwarranty Finance, Shree Ram Proteins, Reliance Chemotex Industries, Biofil Chemicals & Pharmaceuticals, Allsec Technologies, Affle (India), Praxis Home Retail, Shree Rama Newsprint are among the volume gainers on the NSE index.
Alternatively, 230 stocks including Alkyl Amines Chemicals, V-Mart Retail, HIL, Tatva Chintan Pharma Chem, ACC
On the NSE Nifty, 23 stocks hit their 52 week highs including Krishana Phoschem, NINtec Systems, Sky Gold, Zen Technologies , Goyal Aluminiums, Vaishali Pharma, Career Point, Capri Global Cap, Nippon India ETF Nifty CPSE Bond Plus SDL Sep 2024 50-50, Raj Rayon Industries, Pressman Advertising among others.
On the NSE Nifty, 52 stocks hit their upper price band. MEP Infrastructure Developers, Arshiya, Shree Ram Proteins, PC Jeweller, Sanghi Industries, NMDC Steel, Alok Industries, Pressman Advertising, Ritco Logistics were among the scrips. 83 stocks hit their lower price band including Adani Power, Adani Wilmar, Adani Green Energy
On the NSE Nifty index, the top winners are Kotak Bank, ICICI Bank, HDFC, SBI, NTPC, with Kotak Bank up by 1.23%. The biggest laggards are Adani Enterprises
HDFC Bank, Reliance Securities, Adani Enterprises, ICICI Bank and Infosys are the most active Nifty 50 stocks intraday.
“Further weakness can be seen in Nifty if we break 17,350 while Bank Nifty has become a consensus short-trade which means a contra call can be taken if 40,200 is sustained intraday. Nifty micro view remains bearish. Support is placed at 17350 and 17421 while resistance is seen at 17,600 and 17650.” – Rahul Sharma, JM Financials.
The top gainers on Nifty 50 were Adani Ports, NTPC, Titan, Asian Paints and Cipla while the top losers were Bajaj Auto, Adani Enterprises, Infosys, Bharti Airtel and Hindalco.
The NSE Nifty 50 fell 75.00 pts or 0.43% to 17,390.80 and BSE Sensex tanked 312.52 pts or 0.53% to 59,151.41.
Domestic indices ended the pre-opening session the red territory. The NSE Nifty 50 fell 37.20 pts or 0.21% to 17428.60 and BSE Sensex slipped 132.62 pts or 0.22% to 59,331.31.
“The Bank Nifty index is stuck in a broad range between 39500 and 40500 however the undertone remains bearish and one should keep a sell-on-rise approach. The index has been trading in a downtrend with lower high and lower low formation intact. The index will witness large moves once it breaks out of the mentioned range. The momentum indicator RSI is trading below the level of 30 which confirms the weakness,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
“In Bank Nifty 200-DMA and budget day’s low is both close to 39400. If it can maintain this level, we can anticipate a rebound in the direction of 41000 and 41500, but if it drops below its 200-DMA, we can anticipate further selling pressure in the direction of 38500,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
“Technically, we are in a short-term decline, but we are very close to the 200-day moving average’s critical support level, which also happens to be low for the budget day. Bulls will therefore attempt to protect the Nifty’s 200-day moving average. If Nifty is able to maintain its 200-DMA, the index would form a double bottom, which might trigger a market rebound. On the upside, the 20-DMA near 17770 will continue to serve as a significant hurdle; above it, we may anticipate a short-covering move in the direction of the 18000–18100 range. However, there will be more selling pressure if Nifty is unable to hold its 200-DMA, and 17130 will be the next support level,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
“On the way down the Nifty is trading around the crucial support trendline derived by joining a previous couple of swing lows. On the hourly charts, a positive divergence is developing and the hourly momentum indicator also has a positive crossover which indicates that a bounce is possible. The bounce is likely to be temporary in nature and is unlikely to result in a trend reversal. The daily momentum indicator has a negative crossover which is a sell signal. Overall, the downtrend is still intact and any bounce should be used as an opportunity to create fresh short positions. We expect Nifty to target a level of 17350 from a short-term perspective,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“Markets declined continuously for seven trading sessions with Nifty closing near three weeks low. In the near term, we expect the market to consolidate in the absence of any fresh trigger. However, stock-specific action could be seen. This week investors will take cues from macro data including GDP and PMI numbers that would be released. Auto sector stocks would be in focus on the back of monthly sales data to be announced next week,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
“The key level that will be in focus, early on will be 17353, the budget day’s low, also signified by the close proximity of 200DMA at 17368. The closest barrier on the higher side will be 17620, the reaction high of last week. The major level that we will be eying before Nifty slips into a multi-month downtrend would be 17050, while a weekly close above 17740 will be key for short-covering prospects,” said Anand James, Chief Market Strategist at Geojit Financial Services.
“FPIs continue to be on sale mode in February, too. FPIs sold equity for Rs 2627 crores in February. Relative to January, the pace of selling has come down. For 2023, through 24th February FPIs have sold equity for Rs 31164 crores ( Source: CDSL). There is a clear change in the sell portfolio. In the first half of February, FPIs turned buyers into financials. They were selling in financials in January. Also FPIs bought capital goods, IT and healthcare in the first half of February. They sold oil & gas, metals and power. Last week bond yields in the US continued to rise in anticipation of the Fed turning more hawkish in the context of the slow disinflation in the U S. Rising rates in the US might lead to more capital outflows from emerging markets. South Korea and Taiwan witnessed good capital inflows this month.” – V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The US markets ended Friday’s session in the red territory with Dow Jones Industrial Average tanking 1.02%, S&P 500 slipping 1.05% and the tech-heavy Nasdaq sinking 1.69%.
Asian markets were trading mixed with China’s Shanghai Composite index rising 0.17%, Hong Kong’s Hang Seng climbing 0.16% while Japan’s Nikkei 225 falling 0.05% and South Korea’s KOSPI dropping 0.99%.