Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices concluded Tuesday’s session broadly in red amid negative global market sentiment. The NSE Nifty 50 fell 111.00 pts or 0.65% to 17,043.30 and BSE Sensex plunged 337.66 pts or 0.58% to 57,900.19. Bank Nifty tanked 153.30 pts or 0.39% to 39,411.40. The top gainers on Nifty 50 were Titan, BPCL, Larsen & Toubro, Bharti Airtel and Sun Pharma while the top losers were Adani Enterprises, Adani Ports, Mahindra & Mahindra, TCS and HDFC Life.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
The top gainers on Nifty 50 were Titan, BPCL, Larsen & Toubro, Bharti Airtel and Sun Pharma while the top losers were Adani Enterprises, Adani Ports
Bank Nifty tanked 153.30 pts or 0.39% to 39,411.40
The NSE Nifty 50 fell 111.00 pts or 0.65% to 17,043.30 and BSE Sensex plunged 337.66 pts or 0.58% to 57,900.19.
“Nifty long-term technical supports at 17,035-16,600. 60% of stocks from NSE500 are below 200 DMA – highly oversold. Nifty Midcap 100 Index has still not broken the Feb low of 29,631 while Nifty & BN have broken. The short-term trend remains bearish for 17,035, post which a bounce back is expected upto 17,300. For medium term investors should look to accumulate into this volatility over the next few days – Buying range 16,600-17,035, SL at 16,500,” said Rahul Sharma, JM Financial.
“The overall structure of the Bank Nifty index is very weak. It mirrors global peers with the index falling the most in the last one month. It is near the critical demand zone, which was placed at 200-DMA at around 39500-39300 levels. If it falls below 39300, we can expect further weakness towards 39000 and 38500,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
“Bank Nifty first support at 39296 and then 38818 and resistance at 40544 and 41313,” said Rahul Sharma, JM Financial.
“As far as levels are concerned, the psychological mark of 17000 for Nifty is in the vicinity now, followed by 16900. While on the flip side, the 200 SMA placed around the 17400-17450 odd zone is expected to act as a sturdy hurdle in a comparable period,” said Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One
“Nifty has breached psychological 17250 levels, as 17000 will now act as immediate support, whereas resistance is placed around the 17400-17500 zone. OI Data indicates, on the call side the highest OI is witnessed at 17400 followed by 17500 strike prices while on the put side, the highest OI was at 17000 strike price,” said Om Mehra, Equity Research Analyst at Choice Broking.
“The daily momentum indicator has triggered a negative crossover which is a sell signal. Prices are trading along the expanding lower Bollinger band and the fall is likely to continue. Thus, both price and momentum indicators suggest a further downside. On the way downside, we expect the Nifty to touch the lower end of the falling channel (16950). On the upside, 20-day moving average placed at 17630 shall act as an immediate hurdle for the Nifty,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“Nifty 50 closed at its 5-month low on global market sell-off triggers, the texture is weak in the short term, as it has broken the 200-DMA at around 17400 levels. On a longer timescale, it is traveling in a downward-sloping channel formation. If it falls below 17000, we can expect further weakness towards 16800 and 16600. On the upside, 17500–17800 will act as a resistance area on any bounce back,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
“Nifty has fallen below the previous swing low on the daily chart. Besides, the index has closed below 200DMA, suggesting a rise in long-term bearishness. The momentum oscillator, RSI is in a bearish crossover. On the lower end, support is visible at 16950. On the higher end, resistance is placed at 17500,” said Rupak De, Senior Technical Analyst at LKP Securities.
Nifty first support at 17061 and then 16903 while resistance at 17476 and 17733,” said Rahul Sharma, JM Financial.
The top gainers on Nifty 50 were Dr Reddy, Larsen & Toubro, Titan, Infosys and Tata Steel while the top laggards were Adani Enterprises
Bank Nifty fell 7.95 pts or 0.02% to 39,556.75.
The NSE Nifty 50 fell 8.35 pts or 0.05% to 17,145.95 and BSE Sensex rose 106.17 pts or 0.18% to 58,344.02.
CPI inflation in February remained stubborn, printing at 6.44 per cent, as milk and cereal prices continued to play spoilsport. February retail inflation fell marginally from January’s 6.52%, but was way above RBI’s tolerance limit of 6%.
The National Stock Exchange has GNFC on its F&O ban list for 14 March. 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 1,546.86 crore, while domestic institutional investors (DII) bought equities worth a net Rs 1,418.58 crore on 13 March, according to the provisional data available on the NSE.
Oil prices slipped on Tuesday, extending the previous day’s slide, as the collapse of Silicon Valley Bank startled equities markets and raised worries about a fresh financial crisis. Brent crude futures fell 9 cents to $80.68 a barrel. U.S. West Texas Intermediate crude futures (WTI) dropped 16 cents to $74.64 a barrel.
The US market ended the overnight session mixed with Dow Jones Industrial Average falling 0.28%, S&P 500 dipping 0.15% while the tech-heavy Nasdaq rose 0.45%.
Asian markets were trading broadly in red with China’s Shanghai Composite Index falling 0.48%, Hong Kong’s Hang Seng plunging 0.98%, Japan’s Nikkei 225 tanking 2.45% and South Korea’s KOSPI tumbling 2.15%.
The Nifty futures on the Singapore Exchange (SGX) were trading 29 pts or 0.17% higher at 17,208.50 in the early morning trade.