Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets snapped their 3-day gaining streak on Friday to close with losses. S&P BSE Sensex fell 191 points or 0.33% to close at 57,124 while the NSE Nifty 50 index was down 68.85 points or 0.40% to end at 17,003. Bank Nifty ended almost 1% lower at 34,857, broader markets mirrored the fall. India VIX ended 2% higher. HCL Technologies was the top index gainer, up 3%, followed by Tech Mahindra, Asian Paints, and Infosys. NTPC, Power Grid, and Mahindra & Mahindra were the top laggards.
Domestic markets failed to continue their upward march on Friday, ending down with losses. S&P BSE Sensex fell 191 points or 0.33% to close at 57,124 while the NSE Nifty 50 index was down 68.85 points or 0.40% to end at 17,003. On Sensex HCL Technologies was the top index gainer, up 3%, followed by Tech Mahindra, Asian Paints, and Infosys. NTPC, Power Grid, and Mahindra & Mahindra were the top laggards. Bank Nifty ended almost 1% lower at 34,857, broader markets mirrored the fall. India VIX gained 2% to close above 16 levels.
Nifty gives up 17,000 with minutes left before the closing bell. Sensex was just below 57,100.
Sensex and Nifty slipped just ahead of the closing bell. Sensex was down more than 150 points, holding above 57,100 while the Nifty 50 index was hovering around 17,000 mark.
The Reserve Bank of India will likely keep an accommodative stance on the monetary policy even in view of improving growth, while removing excess liquidity from the system to mitigate instability and risk. The central bank will also take into account the uncertainty caused by the fast-spreading omicron variant rattling the global markets and hampering the path to recovery. “RBI will not change its stance till the (policy) corridor is not normal. By April, consensus is that we would have a normalized corridor,” Upasna Bhardwaj, Senior Economist, Kotak Mahindra Bank, told Financial Express Online.
Sensex trimmed losses further to regain 57300 with less than an hour left before the closing bell.
With little over an hour left before the closing bell, Sensex was down 50 points at above 57,200 and the Nifty was down 30 points. nearing 17,050.
The country’s coal production is expected to record a “sizeable leap” in 2022 with increased output mainly from Coal India and captive mines, providing adequate firewall against any possible dry fuel shortages like the one witnessed in the latter half of this year. While coal supplies have stabilised in recent times, efforts are on to further improve the fuel dispatches and a top government official said power plants are now receiving slightly more coal compared to their requirements.
HCL Technologies was the top Sensex gainer at 1 PM on Friday, up 2.7%. This was followed by Tech Mahindra, ITC and Nestle India.
India VIX, the volatility index, was up 2.34% on Friday. The fear gauge of domestic markets was above 16 levels.
NSE Nifty 50 index is likely to surge higher in 2022, hitting a fresh all-time high of 20,800, said analysts at ICICI Direct. The brokerage firm’s 2022 Nifty target implies an upside of 23% from today’s low and a 12% rise from the current all-time high of 18,604. Analysts at ICICI Direct said that the Nifty 50 index has managed to test its Mean+3*sigma levels for the first time since 2008. “We believe it is a new trend in the making where Mean+2*sigma levels (currently near 15700) should act as a support while the Nifty should achieve the target of its mean+3*sigma levels in coming months,” they added.
“Last three days’ recovery has been remarkable considering the nervousness we had early this week. Yesterday’s close beyond 17000 is an indication that the bears have lost their steam; because we not only surpassed the downside gap area created on Monday but also went on to negate the breakdown. Now we are in a neutral zone from the bearish trend and if bulls have to regain the strength, 17200 – 17300 needs to be surpassed with some authority. This development will confirm the completion of recent corrective phase and the bulls would probably be back at a driver’s seat thereafter. If this has to happen, the banking needs to step up which is slightly lagging behind in the recovery. Let’s see how things pan out going ahead as we are inching closer to the calendar year end.
Traders are advised to stick to the stock centric approach because the real action lies there and we expect it to continue in coming session as well,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.
2021 is about to end and if we look at Gold and Silver’s performance, it has nothing worthwhile to write about compare to other assets like equity, metals or energy. We've seen more money pour into equity strategies this year than pretty much the last 20 years combined. That's held gold and silver back. US dollar index climbed around 8% this year which is precious metal’s natural headwind. Real yields also rose this year as market-adjusted inflation number and US Fed’s expectation of raising interest rates. All these factors kept from gold and silver shining in 2021.
The market is having difficulty in getting past its resistance zone of 17150-17250. This is a crucial juncture and if the Nifty wants to take a U-turn, it will happen from here. If we break the support of 16800 on a closing basis, we could witness a southward trajectory next week.
-Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Data Patterns (India) shares began trading on the stock exchanges at a premium on Friday morning amid volatile market momentum. Data Patterns stock price was trading at Rs 864 per share on opening, up 47.69% or Rs 279 apiece from the upper end of the price of Rs 585 per share. The Rs 588 crore IPO (Initial public offering) of the company was heavily oversubscribed earlier this month. The public issue was subscribed a total of 119.62 times. Data Patterns is a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry.
Sensex gave up opening gains and began trading flat with a positive bias on Friday morning. Nifty 50 index was just shy of 17,100
Sensex started the day in the green, just above 57,500 while NSE Nifty 50 index was above 17,100. Bank Nifty was 0.30% lower.
The US markets ended higher on Thursday as investors and traders were optimistic about positive economic data and discounted the impact of the Omicron coronavirus variant on the economy, even as COVID-19 case counts soar. Asian markets are trading mostly in green on Friday following Wall Street’s overnight rally. On technical front, 16,800 and 17,250 may act as immediate support and resistance for Nifty50. In case of Bank Nifty, 34,800 and 35,700 are support and resistance respectively.
~ Mohit Nigam, Head – PMS, Hem Securities
Sensex soared 500 points higher as the pre-open started on Friday morning. Nifty 50 index was above 17150.
The Nifty could immediately trade in a 1.70% range either side from 17100 with a bias on the upside to runebound, weekly options data show. The range for the market based on the combined value of the 17100 call and put expiring on December 30 is 16800-174000. The bias, going by the open interest put call ratio of 1, is on the upside to range-bound,indicating traders have sold equal call and put options on the Nifty, expecting the market to move in the range and gobbling up the premiums received by selling calls and puts to the option buyers. For the coming session, the trading spot band is between 17150 and 16980,which means further upsides are likely once the immediate resistances of 17150 are taken out and weakness could emerge if the supports of 16980 are broken.
~ Raushan Kumar, Derivative Analyst, IIFL Securities.
“On the options front, maximum Put OI for 30th Dec series is at 17000 strike price with 57 lakh shares followed by 16000 & 16500 strike price. Meanwhile, maximum Call OI for 30th Dec series is at a 18000 strike price with 61 lakh shares followed by 17500 & 17000 strike price,” said Raushan Kumar, Derivative Analyst, IIFL Securities.
“Key takeaway: Our recent Morbi channel checks suggest volumes at ~ 6.5-7/5.7 mmscmd in Nov/Dec (Mar-21: 7.7-7.8). Volumes have been range-bound in order to mitigate the exposure to high Spot LNG prices but underlying demand seems to be robust at ~ 8-8.5 mmscmd while 75% of expected new plants have already come online.”
“Nifty finds support around 17000 while 17300 will act as resistance on the upside. Bank Nifty finds support around 35000 while 35750 will act as resistance. Asian markets opened in the green today as the Japanese 'Nikkei' was trading higher by over 200 points with the Taiwan index trading over the crucial 18,000 mark. Chinese stocks will see strong action as we enter 2022 as expectations of improvement across the economy could see commodities get a fillip as manufacturing expands,” said IIFL Securities.
Stocks advanced Thursday after the latest coronavirus studies stirred hopes that the global recovery can weather the omicron flareup. Participants were enthused by encouraging US data and inflation worries went into the background. Nifty rose with an upgap but formed a doji after a rise suggesting indecision on the part of the traders at higher levels. Advance decline ratio continued to remain positive. Till 17119 is crossed, there would remain a possibility of a correction of the recent rise. 16936-16971 on the downside remains a support band.
~ Deepak Jasani, Head of Retail Research, HDFC Securities
The relief rally might continue for some more time. FII selling has reduced sharply over the last few days as they enter into holiday mood. However, volatility cannot be ruled out on account of potential risk from Omicron variant and fragile global cues. We suggest long term investors to take benefit of such volatility in the market and add on to their portfolios gradually at lower levels.
~ Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
“Nifty may again open higher due to global cues but chances are good that we may not see follow-up buying at higher levels. 17150-17200 should act as a resistance zone and risk-reward remains good in this zone for shorts. Supports are placed at 17020-16970,” said Rahul Sharma, Director & Head – Research, JM Financial.
Foreign lender HSBC on Thursday announced that its asset management arm will acquire L&T Mutual Fund for USD 425 million (about Rs 3,192 crore). L&T Finance Holdings (LTFH) and HSBC Asset Management (HSBC AMC) have entered into a definitive agreement whereby the latter will acquire 100 per cent equity shares of L&T Investment Management, according to a statement.
SGX Nifty was up 70 points on Friday morning. Nifty futures trading higher hint at a positive start to the day's trade.