Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Monday’s session broadly in green. The NSE Nifty 50 jumped 202.8 points or 1.12% to 18,271.8 and BSE Sensex 709.96 surged 1.16% to 61,764.25. In sectoral indices, Bank Nifty soared 622.8 points or 1.46% to 43,284, Nifty Financial Services climbed 280.1 points or 1.47% to 19,303.95 while Nifty PSU Bank fell 38.5 points or 0.93% to 4,115.1. The top gainers on the Nifty 50 were IndusInd Bank, Tata Motors, Bajaj Finance, Bajaj Finserv and ONGC while the losers were Coal India, Adani Enterprises, Sun Pharma, Dr Reddy and Britannia.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Highlights
“On the index front, 17,850 will continue to act as crucial support while the upside seems capped at 18,350 levels. We thus recommend focusing on stock selection and overnight risk management until Nifty resumes the trend,” said Ajit Mishra, VP – Technical Research, Religare Broking Ltd.
“Till the Nifty trades above 18300, the index is expected to scale higher. While on the downside, support is placed at 18000, followed by 17860 & 17700,” said Rohan Shah, head technical analyst at Stoxbox.
“Nifty is now poised to move towards 18000 and then 17950, the vicinity of rising neckline support of the inverse head and shoulder pattern. If prices managed to fall below 17940, the next support will align around 17800. On the higher side, 18270 will act as the nearest resistance which if broken decisively will open room for further upside towards 18450,” said Arvinder Singh Nanda, Senior Vice President of Master Capital Services Ltd.
Nifty first support at 18074 and then 18018 while resistance at 18227 and 18324,according to Rahul Sharma, JM Financial.
“Volatility is likely to be the key actor today. Expect initial swings inside 18000-18100. Post this phase, expect upswings to 18130-170 before bears regroup again. Alternatively, an outright rise above 18250 or a sharp fall to 17800 could encourage bulls again,” said Anand James, Chief Market Strategist at Geojit Financial Services.
“Support from global markets and sustained FII buying can revive positive market sentiments which were impacted by heavy delivery selling of Rs 4500 crores in HDFC twins last Friday. Cues from the mother market US indicate that the fears from the regional banking crisis are receding. The April US jobs data, which came at a much better-than-expected 253000 jobs reflect a strong economy which may even avoid a recession. FIIs have been continuous buyers in India during the last seven trading sessions, cumulatively buying equity worth Rs 11700 crores. Rupee appreciation is aiding FII buying,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The top gainers on Nifty 50 were IndusInd Bank, Hindalco, Bajaj Auto, Power Grid and Kotak Bank while the losers were Coal India, Adani Enterprises, Sun Pharma, Adani Ports and SBI Life.
In sectoral indices, Bank Nifty surged 344.6 points or 0.81% to 43,005.8 while Nifty PSU Bank fell 27.75 points or 0.67% to 4,125.85.
The NSE Nifty 50 jumped 81.55 points or 0.45% to 18,150.55 and BSE Sensex soared 296.41 points or 0.49% to 61,350.7.
“Markets are seen opening firm on the back of strong positive cues from the US gauges on Friday after its nonfarm payrolls data showed that the US economy created more jobs in April than expected, thus helping ease recession worries. However, uncertainty still exists over how long the Fed will keep interest rates elevated in its efforts to rein in inflation. Technically, the Nifty options data suggests the index is likely to be in a trading range of 17800-18500 zone,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
The US market ended Friday’s session broadly in green – Dow Jones Industrial Average (DJIA) surged 1.65%, S&P 500 soared 1.85% and the tech-heavy Nasdaq skyrocketed 2.25%.
Asian markets were trading mostly in green – Hong Kong’s Hang Seng rose 0.73%, China’s Shanghai Composite jumped 1.36%, South Korea’s KOSPI climbed 0.87% while Japan’s Nikkei 225 fell 0.66% on Monday.
The Nifty futures on the Singapore Exchange (SGX) were trading 33.5 points or 0.18% higher at 18,157.5 in today’s early morning trade.