Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Thursday’s session marginally lower. The NSE Nifty 50 fell 43.05 or 0.25% to 17,511.25 and BSE Sensex plunged 139.18 pts or 0.23% to 59,605.80. Bank Nifty rose 5.65 pts or 0.01% to 40,001.55. The top gainers on Nifty were Hindalco, Coal India, Axis Bank, JSW Steel and Tata Motors while the top losers were Asian Paints, Larsen & Toubro, Titan, Divis Lab and IndusInd Bank.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
The top gainers on Nifty were Hindalco, Coal India, Axis Bank, JSW Steel and Tata Motors while the top losers were Asian Paints, Larsen & Toubro, Titan, Divis Lab and IndusInd Bank.
Bank Nifty rose 5.65 pts or 0.01% to 40,001.55.
The NSE Nifty 50 fell 43.05 pts or 0.25% to 17,511.25 and BSE Sensex plunged 139.18 pts or 0.23% to 59,605.80.
“The ratio Chart of Nifty 500 (India) vs S&P 500 (USA) has seen a pullback to its important support of 3.60-3.65 from where one can expect a reversal. This means the underperformance in US markets should stop and can possibly reverse to outperformance in the next 2-3 months. Worst Case Scenario: If we do close below 17,500 or break 17,350 – Expect lower targets of 17,035 & 16,600 in the coming weeks. Above levels will help us navigate this phase of “make or break” for the Indian Indices,” – Rahul Sharma, Director & Head – Research, JM Financial Services Ltd.
“Post the Ukraine-Russia crisis, markets are getting into a 200 DEMA stress test for the third time now. Earlier lows were 16,747 in September 22, 17,353 in early Feb & today’s low of 17,455. 17,500-17,450 is a crucial demand area from where one can expect a possible reversal on the charts. Bullish RSI Divergence is seen on daily charts of Nifty. BN remains a weaker link & needs a strong thrust of short-covering + fresh buying. PCR bouncing back from oversold territory in Nifty & Bank Nifty. FII Cash selling has subsided in last 10-11 trading sessions while primary bearish action has been in Derivatives, especially Bank Nifty.” – Rahul Sharma, Director & Head – Research, JM Financial Services Ltd.
Delta Manufacturing, Soma Textiles & Industries, Indian Card Clothing Company, Zee Entertainment Enterprises, Jullundur Motor Agency (Delhi), Sanghi Industries are among the volume gainers on the NSE index.
Alternatively, 162 stocks including HIL, Tatva Chintan Pharma Chem, Shaily Engineering Plastics, Godrej Properties, G R Infraprojects, Angel One, Indigo Paint, Adani Total Gas, Adani Transmission, Motilal Oswal Financial Services, Century Textiles & Industries Limited, Amrutanjan Health Care, Jindal Poly Films, SMS Lifesciences India, HLE Glascoat, Adani Green Energy, IFB Agro Industries, Paras Defence and Space Technologies, Thyrocare Technologie, BSE, Godrej Agrovet, Stove Kraft, Laurus Labs, Biocon, Zee Entertainment Enterprises are at 52 week lows.
On the NSE Nifty, 17 stocks hit their 52 week highs including Fourth Dimension Solutions, Aaron Industries, Blue Star, Carysil, Cyient, Equitas Small Finance Bank, Finolex Cables, GNA Axles, ITC, NMDC Steel, Goyal Aluminiums, Vinny Overseas, NINtec Systems among others.
53 stocks hit their lower price band including Adani Power, Adani Wilmar, Adani Green Energy
On the NSE Nifty, 32 stocks hit their upper price band. Fertilizers and Chemical Travancore, Sanghi Industries, Lambodhara Textiles, Vinny Overseas, Refex Industries, McLeod Russel India, Eros International Media were among the scrips.
On the NSE Nifty index, the top winners are ITC, UPL, Coal India, TCS, Tata Steel with ITC up 2.32%. The biggest laggards are Asian Paints, HDFC Life, IndusInd Bank, Titan and HDFC Bank, with Asian Paints down 2.47%.
HDFC Bank, Adani Enterprises, ICICI Bank, Reliance Industries and HDFC are the most active Nifty 50 stocks intraday.
Biocon shares fell 1.22% to Rs 219.45 on Thursday. Meanwhile, the biopharmaceutical company fulfilled its payment obligation and fully redeemed Commercial Papers of Rs 2,250 crore. Additionally, Kotak Special Situations Fund announced an investment of Rs 1,070 crore in Biocon.
Zee Entertainment Enterprises shares were locked in the lower circuit, falling 10% to Rs 185.35 after National Company Law Tribunal (NCLT) admitted an insolvency petition against the company. The petition has been filed by IndusInd Bank, under Section 7 of the Insolvency and Bankruptcy Code (IBC). This might pose a hurdle for ZEEL’s merger with Sony Pictures Networks.
The top gainers on the Nifty were HCL Tech, ONGC, JSW Steel, Coal India and Tata Steel while the top losers were Adani Ports
The NSE Nifty 50 fell 7.25 pts or 0.04% to 17,547.05 and BSE Sensex dipped 21.03 pts or 0.04% to 59,723.95.
Indices ended pre-open in green. The NSE Nifty 50 rose 20.35 pts or 0.12% to 17,574.65 and BSE Sensex climbed 32.66 pts or 0.05% to 59,777.64.
The National Stock Exchange has Idea shares on its F&O ban list for 22 February. According to the NSE, the stock mentioned above are prohibited in the F&O sector because 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 net shares worth Rs 579.82 crore, while domestic institutional investors (DII) acquired equities worth Rs 371.56 crore on 22 February, according to the provisional data available on the NSE.
Oil prices rose slightly in thin Asian trade on Thursday, pausing from a six-day losing streak fed by mounting concerns that more aggressive interest rate increases by central banks could pressure economic growth and fuel demand. Oil has also been pressured by signs of further crude inventory builds. U.S. crude oil and fuel inventories rose by 9.9 million barrels last week, according to market sources citing American Petroleum Institute figures on Wednesday.
“The Bank Nifty index continued to witness selling pressure from the higher levels. The index is now trading in oversold territory and if it sustains above 40000 can witness a pullback rally towards 40600/ 40800 levels,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
“Bank Nifty to fall towards the next support which is at 39500 or 39400, which was also the budget day low. If Bank Nifty falls to the 39500 level then enter contra trade, however, stop loss at the 39300 level is necessary. Resistance will lie at the 40100 and 40350 levels,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
“The 40000 level serves as a support for Bank Nifty future; if this level is broken, Bank Nifty future may go towards its next support, which is located at the 39500 level,” said Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd.
“After yesterday’s brutal sell-off, next support for Nifty Bank will be at 39750 on the Daily charts. A close below this level could lead to a target of 39420. Strong resistance will be at 40673,” said A R Ramachandran from Tips2trades.
“Both price and momentum indicators are suggesting a further decline in Nifty in the coming trading session. On the way down we expect the Nifty to retest the recent swing low of 17350 which coincides with the 200-day simple moving average and the recent swing low it touched on the day of Budget. On the upside the hourly moving averages and the gap area formed today in the range 17775 – 17820 shall act as a stiff resistance,” Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“Technically, the immediate support level for Nifty future on the downside is at 17350; if it drops below that level, the next support would be close to 17000,” said Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd.
“Technically, the Nifty experienced selling pressure from the 18100-18200 supply zone, where the Adani Saga began. Nifty is likely to complete its unfinished business to test its 200-DMA, which is currently placed around 17350. The same is true for Banknifty, where the 200-day moving average is located near the 39300 level. The Nifty should continue to respect its 200-day moving average since the long-term picture is still favourable; at this level, we can anticipate fresh buying enthusiasm,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
“For the traders now 17600 would be the key level to watch out for and above the same the pullback move will continue till 17700-17750. On the flip side, below 17600 the index could slip till 17500-17475. Contra traders can take a long bet near 17475 with a strict support loss at 17440,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
The US stock market ended the overnight session mixed with Dow Jones Industrial Average falling 0.26%, S&P500 dropping 0.16% while Nasdaq rose 0.13%.
Asian markets were trading mixed with China’s Shanghai Composite index rising 0.40%, Hong Kong’s Hang Seng climbing 0.18% and South Korea’s KOSPI advancing 1.09% while Japan’s Nikkei 225 fell 1.34%.