Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended the last session of the week broadly in green. The NSE Nifty 50 gained 137.90 points or 0.74% to 18,826 and BSE Sensex skyrocketed 466.95 points or 0.74% to 63,384.58. In sectoral indices, Bank Nifty surged 494.55 points or 1.14% to 43,938.15, Nifty Financial Services jumped 1.19% and Nifty PSU Bank soared 1.46% while Nifty IT fell 0.38% and Nifty Realty dipped 0.21%. The top gainers on Nifty 50 were HDFC Life, SBI Life, Bajaj Finserv, Dr Reddy’s Laboratories and Titan while the losers were Wipro, Bajaj Auto, TCS, BPCL and ONGC.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
“Nifty weekly expiry option chain witnesses 18700 straddles playing very aggressively, with CE writers adding over 1.5 lak OI and PE writers with 1.43 lakh OI contracts, also to observe very rigorous fresh additions of nearly a lakh contracts on each side. Though maximum exposure for CE writers stays at the 18800 strike – again with over 1.59 lakh OI contracts and fresh additions of 1.26 lakh contracts. PCR_OI at 18700 is just below 1, which is the key factor to watch now to understand the direction going ahead. Fresh Buying only if 18700 zones are held, for targets of 18850+, otherwise a sell till 18450 cannot be ruled out,” said Shilpa Rout – Derivatives Lead Analyst, Prabhudas Lilladher Pvt Ltd.
“Nifty experienced a bearish engulfing pattern, indicating a potential reversal of its previous bullish trend. Additionally, it formed a double top on the hourly chart, which further suggests a potential downturn. The Relative Strength Index (RSI) is showing negative divergence, indicating weakening bullish momentum. Over the near term, the Nifty may decline towards the 18550 level. On the higher end, there is resistance expected at the 18750 level,” said Rupak De, Senior Technical at LKP Securities.
Nifty may bounce back due to positive global cues but it needs to cross 18770 for any challenge to yesterday’s bearish setup. Trail stop loss to 18555 for Longs. First support at 18635 and then 18555 while resistance at 18770 and then 18800, according to Rahul Sharma, JM Financial.
The National Stock Exchange has IEX, India Cements, L&T Housing Finance, Tata Chemicals, Delta Corp, BHEL, Manappuram Finance, ZEEL and Indiabulls Housing Finance securities on its F&O ban list for 16 June. 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) purchased shares worth a net Rs 3,085.51 crore, while domestic institutional investors (DII) offloaded shares worth a net Rs 297.88 crore on June 15, according to the provisional data available on the NSE.
Oil prices edged lower in early trade on Friday, taking a pause from the previous session when futures gained steeply on optimism around higher energy demand from top crude importer China.
On Thursday, snapping the three-day gaining streak, the domestic indices NSE Nifty 50 and BSE Sensex ended the day in the negative territory. Sensex fell 310.88 points to 62,917.63, while Nifty 50 gave up 0.35% to close at 18,688.10.
The US market ended the overnight session broadly in green – Dow Jones Industrial Average (DJIA) jumped 1.26%, S&P 500 surged 1.22% and the tech-heavy Nasdaq soared 1.15%.
Asian markets were trading mixed – Hong Kong’s Hang Seng rose 0.62%, China’s Shanghai Composite Index gained 0.41%, South Korea’s KOSPI climbed 0.2% while Japan’s Nikkei 225 fell 0.74% and Asia Dow dipped 0.1%.
The Nifty futures on Singapore Exchanges (SGX) were trading 43 points or 0.23% higher at 18,802.5 in the early morning trade.
The SGX Nifty recorded a gain of 0.25% during Friday’s early trading session, with a value of 18,807 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex. “The domestic market is responding to the Fed’s hawkish commentary, which suggests the possibility of 2 more rate hikes in the future this year, although they have currently opted for a halt. Due to concerns about inflation persisting above their target range, Fed officials have increased their rate projections by 47.5bps for the end of 2023 to 5.6%. Despite weakness in the benchmark index, there is buying interest observed with the Nifty Mid-cap index trading at an all-time high,” said Vinod Nair, Head of Research, Geojit Financial Services.