Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Wednesday’s session broadly in green despite unfavourable global cues. The NSE Nifty 50 rose 44.35 points or 0.25% to 17,813.60 and BSE Sensex climbed 169.87 points or 0.28% to 60,300.58. In sectoral indices, Bank Nifty surged 151.40 points or 0.35% to 42,829.90 and Nifty Realty rose 5.85% to 1.36% to 435.95. The top gainers on Nifty 50 were Power Grid, Tata Consumer, Nestle India, IndusInd Bank and SBI Life while the top losers were Hindalco, Adani Ports, Bajaj Auto, Bajaj Finserv and NTPC.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
The top gainers on Nifty 50 were Eicher Motors, TCS, Bharti Airtel, Hero Motocorp and Larsen & Toubro while the top losers were Hindalco, Bajaj Auto, Tata Consumer, Adani Ports and JSW Steel.
In sectoral indices, Bank Nifty fell 134.55 points or 0.32% to 42,543.95 and Nifty IT rose 64.65 points or 0.24% to 27,050.45.
The NSE Nifty 50 rose 2.8 points or 0.02% to 17,772.05 and BSE Sensex fell 32.83 points or 0.05% to 60,097.88.
Domestic indices ended the pre-opening session flat. The NSE Nifty 50 fell 1.95 points or 0.01% to 17,767.30 and BSE Sensex dipped 42.73 points or 0.07% to 60,087.98.
IIFL Securities Technical View: Nifty is likely to find support at around 17650, while 17900 is likely to act as resistance. Bank Nifty is likely to find support at around 42400, while 43200 is likely to act as resistance on the upside.
“Going ahead, a decisive close above 17800 would signal end of ongoing corrective phase and open further upside towards 18100 in coming weeks. Failure to sustain above 17800, would lead to prolongation of consolidation in the 17800-17500 with stock specific action amid advancement of Q4 earning season.” – ICICI Securities
Indian markets are likely to open on a negative note today on the back of negative global cues. Investors are likely to remain cautious as fears of a banking crisis rise again after weak results were reported by the bank in the US. – ICICI Securities
“In the tug-of-war between bulls and bears, the index has formed Doji candle on the daily chart at 100 DMA’s which suggests caution at current levels. Breakout sustaining above 17,865 would be keenly monitored as it would unlock fresh short-covering move which will help the index to reach the expected zone of 18,000 and 18,135 levels. On the flip side, a fresh round of selling is possible only after the dismissal of 17,600 levels,” said analysts at Yes Securities.
“Traders and investors will closely monitor the critical support level of 42200, as a breach of this level could lead to further downside in Bank Nifty. On the upside, the zone of 42850-42900 will operate as a resistance, and a decisive move above this level could trigger fresh buying interest,” said Ameya Ranadive CMT CFTe., Equity Research Analyst, Choice Broking.
Bank Nifty first support at 42566 and then 42472 while resistance at 42803 and 42946, according to Rahul Sharma, JM Financial.
“The crucial support zone to keep a watch is 17620 – 17600. Until the Nifty manages to hold and trade above this zone, we can expect the up move to continue. On the upside, the initial hurdle stands at 17863 – 17880. A break above that shall lead to a sharp rise towards the 18000 psychological mark. Overall, we shall continue to maintain our positive stance from a short-term perspective for a target of 18100,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“On daily charts, the Nifty has formed a small Doji candlestick formation which indicates indecisiveness between the bulls and bears. A minor intraday correction is possible, if the index slips below 17720 and retests the level of 17670-17625. On the flip side, a fresh uptrend wave is possible only after the dismissal of 17820. Post breakout the chances of the index hitting 17900-17925 would turn bright,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
“In the near term, traders and investors will keep a close eye on the critical support level of 17650, as a breach of this level could lead to further downside. On the upside, the zone of 17850-17900 is expected to act as a resistance, and a decisive move above this level could open up further upside potential,” said Ameya Ranadive CMT CFTe., Equity Research Analyst, Choice Broking.
“Nifty continued to remain in the buy zone despite forming a Doji-like pattern on the daily chart. The index remains comfortably above the critical moving averages, suggesting a positive trend. The upside resistance is visible at 17800, where the bulls may find an immediate resistance. Above 17800 the Nifty may move higher towards 18000. On the lower end, support remains intact at 17700,” said Rupak De, Senior Technical Analyst at LKP Securities.
“Volatility and choppiness are likely to continue in Wednesday’s trading session with Nifty’s biggest support seen at the 17543 mark, while the index may gain strength only above the 17863 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Bajaj Auto Results: “Strong beat but structural concerns on domestic franchises persist,” says Emkay Research.
“Bajaj Auto (BJAUT) reported better-than-expected performance, with an improved product mix leading to a significant rise in ASPs and, consequently, healthy margins.” However, “export recovery is expected to be gradual and dependent on easing USD availability in key countries and 2) Consistent market share loss in the domestic motorcycle business,” says Emkay.
Doji structure on daily charts for Nifty after the upmove. US markets finally have a trending down day after many days of lacklustre activity. Spike in VIX too. Nifty has a bearish view if 17700 breaks or else we may remain rangebound. First support at 17700 and then 17650 while resistance at 17800 and 17863, according to Rahul Sharma, JM Financial.
The National Stock Exchange has ZEEL securities on its F&O ban list for 26 April. 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) sold shares worth a net Rs 407.35 crore, while domestic institutional investors (DII) purchased equities worth a net Rs 563.61 crore on 25 April, according to the provisional data available on the NSE.
Oil prices rose in early Asian trade on Wednesday after a U.S. trade group reported a significant draw in crude oil stocks ahead of the government’s data release. Brent crude rose by 16 cents, or 0.2%, to $80.93 a barrel by 0006 GMT. U.S. West Texas Intermediate crude rose 25 cents, or 0.3%, to $77.32 a barrel, according to Reuters.
The US market ended the overnight session deeply in red– Dow Jones Industrial Average (DJIA) tanked 1.02%, S&P 500 tumbled 1.58% and the tech-heavy Nasdaq plunged 1.98%.
Asian markets were trading mixed with China’s Shanghai Composite Index rising 0.02%, South Korea’s KOSPI up 0.3%, Hong Kong’s Hang Seng up 0.14% while Japan’s Nikkei 225 fell 0.37%.
The Nifty futures on the Singapore Exchange (SGX) were trading 31 points or 0.18% lower at 17,755 in the early morning trade.