Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets gave up intraday gains to close with losses for the fourth day running. S&P BSE Sensex shed 276 points or 0.51% to close at 54088 while NSE Nifty 50 index fell 72.95 points to close 0.45% lower at 16,167. Bank Nifty zoomed 0.61% while India VIX gained 2.2% to close above 22 levels. Axis Bank was the top gainer on Sensex, up 2.5% while IndusInd Bank gained 1.67%, followed by HDFC, and Kotak Mahindra Bank. Larsen & Toubro was down 2% as the worst-performing Sensex stock, accompanied by Bajaj Finserve, NTPC, and Bajaj Finance.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
For the fourth consecutive day, Sensex and Nifty closed with losses as bears forced markets to give up intraday gains. S&P BSE Sensex shed 276 points or 0.51% to close at 54088 while NSE Nifty 50 index fell 72.95 points to close 0.45% lower at 16,167. Axis Bank was the top gainer on Sensex, up 2.5% while IndusInd Bank gained 1.67%, followed by HDFC, and Kotak Mahindra Bank. Larsen & Toubro was down 2% as the worst-performing Sensex stock, accompanied by Bajaj Finserve, NTPC, and Bajaj Finance. Bank Nifty zoomed 0.61% while India VIX gained 2.2% to close above 22 levels.
Sensex fell 276 points or 0.51% on Wednesday to settle at 54088 while NSE Nifty 50 closed at 16,167. Bank Nifty closed 0.61% higher.
India VIX, the volatility gauge, was below 23 levels on Wednesday afternoon ahead of the closing bell.
Markets hate uncertainty and hence in an uncertain macro environment, market volatility increases. In an uncertain market environment, how factors such as interest rates, liquidity, inflation, commodity prices etc. move is more difficult to predict. Geopolitical events add another dimension to these uncertainties. Many a time, decisions in geopolitical context are not necessarily based on purely economic considerations. This makes it even more difficult to predict the turn of events.
Nifty 50 has rebounded strongly from lows, breaching 16200 once again. Nifty is down 200 points.
BSE Sensex and Nifty 50 tanked over one per cent in intraday deals on Wednesday, one day before weekly F&O expiry. The benchmark indices were pulled down on the back of selling in index heavyweights such as Infosys, Reliance Industries Ltd (RIL), ITC, Larsen & Toubro (L&T), and Bajaj Finance among others. So far in the day, BSE Sensex has hit a day’s low of 53,519.30, while NSE Nifty 50 fell to 15,992.60. Indian stock markets were also seen mirroring global markets. Moreover, stricter COVID-19 lockdown in Shanghai, and weekly F&O expiry due on Thursday, also added to the woes. Analysts said that continuous FIIs selling, and weak global cues were also among major reasons behind the D-Street crash. On the charts, both BSE Sensex and Nifty 50 were ruling below long-term and short-term moving averages, due to which, analysts see more weakness in markets going ahead, where Nifty may tumble down to 15500, and BSE Sensex to 52500.
US stock markets have been bearing the brunt of multiple headwinds in recent weeks and volatility may continue in the near future. Amid this Morgan Stanley’s Chief Investment Office Lisa Shalett advises investors to take caution ahead, seeing at least three areas of uncertainty that may continue to weigh on markets. This year, the S&P 500 is down 16.5%, while NASDAQ is down 25%, and Dow Jones has fallen 12%. Lisa Shalett believes that tightening of monetary policy, dimming corporate profit outlook, and geopolitical worries will continue to weigh on Wall Street.
Avro India, CWD, Galactico Corporate Services, Mehta Housing Finance, Mid India Industries, Panth Infinity, Sadhna Broadcast, SEL Manufacturing Company, Universal Star-Chem Allied, Virat Industries were among the stocks that hit 52-week high on BSE. Meanwhile, Anant Raj, Astrazeneca Pharma, Bajaj Electricals, Bosch, Campus Activewear, Can Fin Homes, Dabur India, Dixon Technologies, Glemark Pharma, IDFC First Bank, IndiGo Paints, JK Lakshmi Cement, C.E. Infosystems (MapMyIndia), MCX, One 97 Communications (Paytm), Info Edge (Naukri), Zomato, Wipro were among the scrips at fresh lows.
Nifty has rebounded nearly 80 points after having hit a low of 15992 intraday. The index, however, still remains in the red. Sensex is down 600 points.
Nifty has dived below 16000 support zone to hit a low of 15992 on Wednesday. Sensex is down more than 800 points.
Nifty has hit 16000 support zone as benchmark indices continue to move lower.
Advised to short, sell, exit longs once US markets broke March lows. Hold 16,000 Puts initiated today at 165; CMP 200+ Downside Target seen at 15,500 (Positional)
~ Rahul Sharma, Director & Head - Research, JM Financial.
Target: Rs 1,070 per share | Time period : 1 month
Domestic stock markets trend continues to be bearish with Sensex and Nifty falling more than 5.5% so far this month and down more than 8% each in 2022. S&P BSE Sensex and NSE Nifty 50 opened with gains on Wednesday but soon gave up gains to trend lower. “The trend continues to be negative and hence we continue with our advice for traders to avoid bottom fishing,” said Ruchit Jain, Lead Research, 5paisa.com yesterday after markets closed with losses. Investors could look for dividend stocks amid the current volatile market. HDFC Bank, HDFC, Angel One, JSW Energy are some stocks that have announced dividends and will soon start trading ex-dividend.
Nifty has been trending lower for the last few weeks and making lower tops and lower bottoms in the process. And Nifty has been moving lower after the recent breakdown from 16824-17415 trading range. While we remain open to pullback rallies in the very near term, we expect the downtrend to continue. Our short term bearish view would turn bullish only if the Nifty manages to take out the highs of 17133. Therefore recommend a go slow approach on fresh longs till we see signs of sustainable strength.
~ HDFC Securities
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices fell in India on Wednesday, as global rates slipped to a 3-month low ahead of US inflation data. On Multi Commodity Exchange, gold June futures were ruling Rs 222 or 0.44 per cent down at Rs 50,364 per 10 gram. Silver July futures were down Rs 249 or 0.41 per cent at Rs 60,369 per kg. Globally, yellow metal prices eased to a three-month low. Read full story
Sensex gave up 54,100, falling nearly 300 points on Wednesday after having opened with gains. Nifty 50 was below 16,200.
Life Insurance Corporation of India (LIC) IPO share allotment will be finalised on Thursday, 12 May, after the Rs 21,000-cr public offer received 2.95 times subscription. LIC shares were offered to investors through the IPO in a fixed price band of Rs 902-949 per equity share. In the grey market on Wednesday, LIC shares were seen trading at a discount of Rs 20, at Rs 929 apiece from the upper end of price band, according to people who deal in unlisted shares of companies. The stock is likely to list on BSE and NSE on 17 May 2022. Read full story
"The pull from the 15800 region has ensured that the 16400 emerged powerful enough to reject relief rallies twice in as many days. Meanwhile, a bearish continuation pattern has also formed, making it crucial for Nifty to float above 16200 for the most part today, to utilize the oversold conditions, for a push above 16400,but its chances look low though. Else, brace for a 15900 move," said Anand James - Chief Market Strategist at Geojit Financial Services.
Delhivery’s IPO will open for subscription today as the company looks to raise Rs 5,235 crore through the public issue. Ahead of the IPO, the logistics major has garnered strong interest from institutional investors with as many as 64 anchor investors picking up a stake in the company worth Rs 2,346 crore. The anchor investors in Delhivery’s IPO includes marquee names such as Goldman Sachs, Morgan Stanley, the Government of Singapore, Fidelity Investment Trust, Tiger Global, Invesco, SBI, ICICI Prudential, and HDFC. Delhivery’s IPO will close for subscription on Friday, May 13.
"Despite the upsurge in overnight US markets, SGX Nifty is trading below the dotted lines, indicating a nervous start for our stock markets. Sentiments will be mostly negative during the trading session, as negative factors will continue to weigh on investors' minds. FIIs have continued with their exit strategy and sold shares worth Rs 3,960.59 crores on Tuesday. The rising interest rate scenario across key nations have raised concerns of a fragile economic growth going ahead. Technically speaking, Nifty’s interweek support is seen only at 15901 mark and below the same expect a waterfall of selling towards 15200-15250 mark," said Prashanth Tapse, Vice President (Research), Mehta Equities.
Sensex jumped on the opening bell on Wednesday morning, regaining 54,500 points while NSE Nifty 50 touched 16,300. Bank Nifty was above 34,700.
"Positive geopolitical developments, as well as stronger-than-expected critical macroeconomic data, may assist to change the tide and entice investors to return to the equities market. Investors should exercise caution in the markets, and we recommend accumulating some liquidity during the current decline, as uncertainty and volatility are likely to linger for some time. In these situations, investors should exercise caution and take advantage of market declines to acquire fundamentally sound securities. Immediate support and resistance for Nifty are 16,000 and 16,500 respectively. Immediate support and resistance for Bank Nifty are 33500 and 35,000 respectively," said Mohit Nigam, Head - PMS, Hem Securities.
Sensex rises in pre-open session, Nifty trades with marginal losses but holds 16,200.
For the traders, 16200/54200 would be the key level to watch out, strong possibility of one more quick intraday correction is not ruled out, if the index succeeds to trade below 16200/54200. Below this level, the Nifty/Sensex could touch the level of 16100-16050/54000-53700. On the flip side, fresh pullback rally is possible only after 16300/54500 intraday breakouts. Above the same, the index would retest the level of 16400-16450/55000-55200. Read full story
BSE Sensex and Nifty 50 were set to see a tepid start on Wednesday, a day before weekly F&O expiry. Nifty futures were ruling at 16,173, down 38 points or 0.23 per cent on Singaporean Exchange. In the previous session, BSE Sensex closed 105.82 points or 0.19% lower at 54,364.85, while the NSE Nifty 50 ended 61.90 points or 0.38% lower at 16,240. Analysts said that markets were witnessing volatile swings as various factors like rising interest rates, concerns over slower economic growth and further tightening measure in China continued to weigh on investors.
"US inflation data today could set the tone for the market from here. 16,200 should act as key support today and if we break this we could see 16,000 being tested. On the flip side, shorts will get challenged only if we cross 16,400," said Rahul Sharma, Director & Head - Research, JM Financial.
Markets are witnessing volatile swings as various factors like rising interest rates, concerns over slower economic growth and further tightening measure in China continued to weigh on investors. Nifty has corrected sharply by 6.5% in the last 7 trading sessions. While the secondary market is struggling with volatility, we are witnessing lot of action in the primary market. LIC IPO was oversubscribed 2.95x despite being one of the largest fundraise ever in India. Also we saw strong listing of Campus Activewear on Monday. Three more IPO are lined up this week with Prudent Corporate Advisory Services ipo opened on 10th while Delhivery and Venus Pipes and Tubes opening on May 11.
~ Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol prices have now been left untouched for more than a month now (35 days) by oil marketing companies (OMC). Prices have been steady since April 6 after OMCs hiked prices by Rs 10 per litre through 14 price hikes across major cities that started on March 22. Petrol in the National Capital of Delhi is currently priced at Rs 105.41 per litre, after the last hike of 80 paise nearly a month ago. Diesel in the city is priced at Rs 96.67. In Mumbai, a litre of petrol and diesel cost Rs 120.51 and Rs 104.77, respectively. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international prices and foreign exchange rates.
Indian equity markets are likely to open lower on Wednesday amid weak global cues. Nifty futures were trading 43 points, or 0.27% lower at 16,167.50 on the Singapore Exchange signaling that Dalal Street was headed for a gap-down start. In the previous session, Benchmark indices BSE Sensex and NSE Nifty 50 closed in the red amid high volatility. Markets are witnessing volatile swings as various factors like rising interest rates, concerns over slower economic growth and further tightening measure in China continued to weigh on investors. “We reiterate our bearish stance on the markets, in absence of any positive trigger. Participants shouldn’t read much into a single-day rebound and wait for some decisive reversal signal. Besides, stability on the global front is equally critical for any sustained move,” said Ajit Mishra, VP – Research, Religare Broking Ltd.