Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Tuesday’s session deeply in the red. The NSE Nifty 50 tanked 112.35 points or 0.61% to 18,286.5 and BSE Sensex plunged 413.24 points or 0.66% to 61,932.47. In sectoral indices, Bank Nifty tumbled 168.40 points or 0.38% to 43,903.70, Nifty Auto fell 130.15 points or 0.93% to 13,877.70 while Nifty PSU Bank rose 28.90 points or 0.72% to 4,049.70. The top gainers on Nifty 50 were BPCL, Coal India, ONGC, Bajaj Finance and NTPC while the losers were Kotak Bank, Tata Motors, Mahindra & Mahindra, Apollo Hospital and Maruti Suzuki.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Benchmark indices NSE Nifty 50 and BSE Sensex ended Tuesday’s session deeply in the red. “The domestic benchmark’s ascent towards a record high was interrupted by selling pressure in heavyweight stocks, although small and mid-cap stocks outperformed. As anticipated, the Eurozone economy experienced modest growth of 0.1% QoQ in the Jan-Mar period, following a stagnant previous quarter. In the US market, cautious trading prevailed as debt-ceiling negotiations took precedence,” said Vinod Nair, Head of Research at Geojit Financial Services.
The top gainers on Nifty 50 were BPCL, Coal India, ONGC, Bajaj Finance and NTPC while the losers were Kotak Bank, Tata Motors, Mahindra & Mahindra, Apollo Hospital and Maruti Suzuki.
In sectoral indices, Bank Nifty tumbled 168.40 points or 0.38% to 43,903.70, Nifty Auto fell 130.15 points or 0.93% to 13,877.70 while Nifty PSU Bank rose 28.90 points or 0.72% to 4,049.70.
The NSE Nifty 50 tanked 112.35 points or 0.61% to 18,286.5 and BSE Sensex plunged 413.24 points or 0.66% to 61,932.47.
Bank Nifty tanked 215.55 points or 0.49% to 43,856.55. The top losers on the index were Kotak Bank, HDFC Bank, Federal Bank, Bandhan Bank and ICICI Bank while the gainers were AU Bank, Bank of Baroda, IDFC First Bank and State Bank of India.
All SGX orders will be 100% transferred to GIFT City, NSE IFSC exchange for matching and SGX Nifty will be called GIFT Nifty from July 3, says NSE.
Tata Motors, TVS Motor Company, Andhra Cements, AU Small Finance Bank, Aurobindo Pharma, Cholamandalam Investment and Finance Company, Datamatics Global Services, DLF Ltd, Gail (India), Hindustan Aeronautics (HAL), Housing & Urban Development Corporation, IDFC, IDFC First Bank, Indian Oil Corporation (IOC) and L&T Finance Holdings were among 79 stocks that hit 52 week highs on Tuesday while PVR INOX, SEL Manufacturing Company and Sumitomo Chemical India were among 6 stocks that hit 52-week lows.
ACL, Arrow Green, AVG, Avro India, Axita Cotton, DRC Systems India, Seya Industries, Saksoft and HEC Infra Projects were among 50 stocks that hit the upper price band while ATGL, Balkrishna Paper Mills, Goyal Aluminiums, PVP Ventures, TECIL Chemicals and Hydro Power and SEL Manufacturing Company were among the 21 stocks that hit lower price band. Meanwhile, 6 stocks hit both bands today.
Bajaj Finance, ONGC, BPCL, Bajaj Finserv, Hindalco, Coal India, Divis Lab, NTPC and Infosys were the top gainers while Mahindra & Mahindra, Power Grid, Maruti, Reliance Industries (RIL), Apollo Hospital, Kotak Bank and HDFC Life were the losers.
Pearl Global Industries, Indbank Merchant Banking Services, IFGL Refractories, JB Chemicals & Pharmaceuticals, Vesuvius India and SML Isuzu were the top volume gainers on the NSE.
HDFC Bank, ICICI Bank, Astral, State Bank of India, HDFC, Axis Bank and Bajaj Finance were among the most active equities on NSE.
In sectoral indices, Bank Nifty fell 50.4 points 0.11% to 44,021.7, Nifty Financial Services was down 64.9 points or 0.33% to 19,518.3 while Nifty PSU Bank jumped 34.8 points or 0.87% to 4,055.6.
In broader markets, Nifty Midcap 100 rose 0.83%, Nifty Smallcap 250 climbed 0.49% and Nifty Midcap Select jumped 1.10%.
Two Nifty 50 heavyweights HDFC and HDFC Bank are to trade ex-dividend today, 16 May onwards. HDFC Bank’s board of directors have recommended a final dividend of 1900% at Rs 19 per share with face value of Re 1. Mortgage lender HDFC announced an interim dividend of 2200% at Rs 44 per equity share with a face value of Rs 2. HDFC Bank’s dividend is higher than the dividend of Rs 15.5 per share paid out the last financial year, making this the largest dividend paid out by the lender. The record date for both the stocks is today, 16 May, wherein the lenders will determine which shareholders are currently eligible to receive dividends.
Vedanta has proven to be a generous share for dividend-seeking investors, with a whopping yield of 26% over the past 12 months. This translates to a substantial payout of Rs 70 per share in dividends for its shareholders. Bajaj Auto paid out the highest dividend per share in the previous financial year at Rs 140. However, its yield is significantly lower at only 3%. In comparison, Vedanta’s high yield means that investors have received a greater return on their investment in terms of dividend payouts.
Gold rate dipped 0.2% and Silver rate fell 0.39% on Tuesday. Gold futures on the multi-commodity exchange for June delivery were trading at Rs 60,903, down 124 points and Silver futures for July delivery fell 286 points to Rs 73,116. Globally, gold prices eased marginally as traders assessed comments from US central bank officials on interest rates staying high, while the US debt-ceiling debate and risk of a default curbed further losses in bullion. Spot gold fell 0.2% to $2,016.72 per ounce while US gold futures were down 0.1% to $2,020.20. Meanwhile, spot silver fell 0.3% to $24.04 per ounce, platinum dipped 0.1% to $1,063.66, while palladium was slightly changed at $1,531.60.
Nifty PSU Bank surged 42.75 points or 1.06% to 4,063.55. The top gainers on the index were Punjab & SInd Bank, UCO Bank, Indian Bank, Canara Bank and Central Bank while there were no losers.
“The selling in the last hour, will turn out to be a false signal, should 18440 be reclaimed. In such a scenario, Nifty upside objective may be extended from 18500 to 18579-650. Alternatively, inability to penetrate 18440, or indirect turn below 18381 could lead to 18200 being achieved in haste, while exposing 18066,” said Anand James, Chief Market Strategist at Geojit Financial Services.
Gail share price jumped 1.52% to Rs 113.4, Oil India share price surged 2% to Rs 264.8 and ONGC share price climbed 1.24% to Rs 167.65 after government slashed windfall tax on domestically produced crude oil to zero.
Bharti Airtel shares fell 0.2% to Rs 796.35 ahead of the quarterly results announcement. Experts estimated the firm’s revenue to rise between 1-2% on tepid customer additions and relatively flat ARPU. As a result of the previous quarter’s one-time provisional charge, the net profit for quarter ended March will see a sharp sequential jump.
Pfizer share price jumped 1.5% to Rs 3874 after the company posted its fourth quarter profit at Rs 129.65 crore, up 3.1% as against Rs 125.79 crore in the same quarter last year. The company’s revenue from operations was at Rs 572.64 crore, up 4.2% from Rs 549.66 crore in Q4FY22.
The top gainers on Nifty 50 were Hindalco, Cipla, Divis Lab, Asian Paints and Infosys while the losers were Maruti, Mahindra & Mahindra, Apollo Hospitals, Adani Enterprises and Kotak Bank.
In sectoral indices, Bank Nifty fell 110.6 points or 0.25% to 43,961 and Nifty Financial Services dipped 83 points or 0.42% to 19,500.20.
The NSE Nifty 50 was trading at 18,394.45 and BSE Sensex at 62,341.06.
“The Indian market is expected to begin the trading session on a strong note, with the SGX indicating 45 points in the green. All US Indices closed on the higher side while the Asian market also traded on a positive note. A successful close over 18600 will trigger a breakout in the index. Strong FIIs buying has boosted the sentiments which had led the Index to scale higher while Bank Nifty is on the verge to attain an all-time high. We anticipate Banking and IT stocks would hold the command for today’s session,” said Om Mehra, Equity Research Analyst at Choice Broking.
“The decent addition in the 44000PE suggests that there is strong support at 44000. However, a decisive fall below 44000 could potentially trigger panic in the banking sector. On the other hand, a decisive move above 44152 might propel the Bank Nifty towards the 44500 level. The key support levels to watch out for are 44000 and 43700,” said Bank Nifty from Rupak De, Senior Technical analyst at LKP Securities.
“Bank Nifty is seen to be trading in a higher high higher low formation on the daily timeframe as the bulls take it close to all-time high levels. The undertone remains bullish as long as Bank Nifty holds the levels of 43800 as put writers are fiercely active on 43500 and 44000 and call writers are active on 4400 and 45000. Bank Nifty support at 44000, 43700 and 43500 while resistance at 44200, 44350 and 44500,” said Mitesh Karwa, Research Analyst at Bonanza Portfolio Ltd.
“If Nifty Bank manages to stay above the previous high of 44151, it is likely to move toward the 44444 and 45000 levels. On the downside, the rising 20-day moving average (DMA) offers a robust support level, currently located at the 43000 level, and is expected to counter any potential pullbacks. It is worth noting that a significant profit booking may only occur if the index falls below the 20-DMA,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
“While the ongoing sentiments are quite bullish, it is important to note that Bank Nifty is currently trading near its all-time high, and therefore, the possibility of a correctional fall cannot be ruled out. The expected support level for such a correctional fall is around 43750, where a fresh round of buying can be witnessed. On the higher side, if prices manage to move above 44152 with a daily closing basis, then the next resistance level will align around 44500-45000,” said Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd.
Record breaking close yesterday for Bank Nifty plus it almost registered a new all-time high. Expect momentum to continue above 44000 as PSU Bank may step into the rally. First support at 43722 and then 43453 while resistance at 44167 and then 44343, according to Rahul Sharma, JM Financial.
“On the upside we expect the Nifty to reach levels of 18500 and hence we change our outlook on the Nifty to positive from sideways. In terms of levels, 18500 – 18520 is the immediate hurdle while 18190 – 18220 shall act as a crucial support zone and until this support zone is held, we can expect the dips to be bought into and the positive momentum to continue,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“Volume profile indicates Nifty has strong support around the 18200-18300 zone. Coming to the OI Data, on the call side, the highest OI was observed at 18500 followed by 18600 strike prices while on the put side, the highest OI is at 18300 strike price,” said Deven Mehata, Equity Research Analyst at Choice Broking.
“As long as Nifty’s 18213 support is held, expect the index to bounce towards its psychological hurdle at the 18500 mark and then aggressive targets at its all-time high at the 18888 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
“The heavy unwinding in the 18300CE along with decent addition in the 18300PE suggests that the Nifty has support at 18300 and is robust. The Relative Strength Index (RSI) is showing a bullish crossover, indicating increasing buying momentum. In the short term, the index is expected to move towards 18500 and potentially higher,” said Rupak De, Senior Technical analyst at LKP Securities.
“As long as the NSE Nifty 50 stays above 18,300 it could return to 18,450 and above 18,450 there could be a stronger move higher with a possible target of 18,500-18,600. On the downside, support lies at 18,300, followed by 18,200 and 18,170,” said Rohan Shah, head technical analyst at Stoxbox.
Nifty has a positive bias above 18390 for 18500. Advisable to take profits in long and re-enter dips. First support at 18350 and then 18290 while resistance at 18460 and then 18500, according to Rahul Sharma, JM Financial.
The National Stock Exchange has Delta Corp, GNFC, BHEL and Punjab National Bank securities on its F&O ban list for 16 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 a net Rs 1,685.29 crore, while domestic institutional investors (DII) purchased shares worth a net Rs 191.20 crore on May 15, according to the provisional data available on the NSE.
Oil prices rose for a second day early on Tuesday, as U.S. plans to purchase oil for the Strategic Petroleum Reserve (SPR) lent support while raging wildfires in Canada fuelled supply worries. Brent crude futures rose 31 cents, or 0.4%, to $75.54 a barrel by 0043 GMT, while U.S. West Texas Intermediate crude was at $71.38 a barrel, up 27 cents, or 0.4%. Both benchmarks rose more than 1% on Monday, reversing a 3-session losing streak.
The US market ended the overnight session mildly in green – Dow Jones Industrial Average (DJIA) rose 0.14%, S&P 500 was up 0.30% and the tech-heavy Nasdaq climbed 0.66%.
Asian markets were trading mostly in green – Hong Kong’s Hang Seng rose 0.29%, South Korea’s KOSPI was up 0.30% and Japan’s Nikkei 225 climbed 0.78% while China’s Shanghai Composite index fell 0.33%.
The Nifty futures on the Singapore Exchange (SGX) were trading 43 points or 0.23% higher at 18,446.5 in today’s early morning trade.