Share Market News Today | Sensex, Nifty, Share Prices Highlights: Bulls remained in control on Dalal Street on the weekly Futures & Options expiry session. S&P BSE Sensex zoomed 874 points or 1.53% to close the day at 57,911 while the NSE Nifty 50 added 256 points or 1.49% to end at 17,392. Bank Nifty added 1.38% while the India VIX index fell 4.4% and gave up 18 levels. Broader markets mirrored the up-move. Mahindra & Mahindra was the top gainer on Sensex up 3.23%. Kotak Mahindra Bank, Maruti Suzuki India, and Bajaj Finserv were the top gainers. Nestle India fell the most on Sensex, followed by Tata Steel, Bharti Airtel, and Bajaj Auto.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Bulls remained in control on Dalal Street on the weekly Futures & Options expiry session. S&P BSE Sensex zoomed 874 points or 1.53% to close the day at 57,911 while the NSE Nifty 50 added 256 points or 1.49% to end at 17,392. Mahindra & Mahindra was the top gainer on Sensex up 3.23%. Kotak Mahindra Bank, Maruti Suzuki India, and Bajaj Finserv were the top gainers. Nestle India fell the most on Sensex, followed by Tata Steel, Bharti Airtel, and Bajaj Auto. Bank Nifty added 1.38% while the India VIX index fell 4.4% and gave up 18 levels. Broader markets mirrored the up-move.
Sensex added 874 points or 1.53% to settle at 57,911 points while the NSE Nifty 50 index gained 256 points to end the at 17,392. Bank Nifty was up 1.38%. India VIX gave up 18 levels.
NSE Nifty 50 index managed to surpass the crucial 17,400 levels.
Rakesh Jhunjhunwala tweaked his portfolio in the January-March quarter, trimming his stake in one Tata Group stock and buying more of another. The ace investor increased stake in hospitality major Indian Hotels, and sold some Tata Motors DVR shares. So far this year, shares of India Hotels have zoomed 33%, extending their 50% up-move from last year. Tata Motors DVR shares have fallen more than 11%, after having skyrocketed more than 200% in 2021. Often called the big bull of domestic markets, Rakesh Jhunjhunwala regularly rejigs his portfolio.
Angel One’s strong results are slightly better than our expectations. The year-on-year growth of revenue is 64% and of EBTDA is 91%. The net profit for the quarter is more than Rs 200 crore and puts the company insight of an annual net profit of Rs1000 crore. This strong performance of the company is a result of very solid execution in an extremely favorable demand environment. Less than 5% of Indian household savings go towards equity investing but this ratio is increasing as young earners have started to invest their savings in equity. Angel One with its full-stack digital platform is at the forefront of meeting their demand. Its new client acquisition was completely through digital means resulting in a 9.8% client growth. The active clients grew even faster at 19.5%. Focus on tech has enabled Angel One to scale and grow its user base rapidly. Financialization of savings is a secular, long-term trend and Angel One is right at the center of this. The company has also rewarded the shareholders handsomely by maintaining a dividend payout ratio of more than 35% throughout the year.
~ Abhay Agarwal, Founder, and Fund Manager, Piper Serica, SEBI Registered Portfolio Management Service Provider
India VIX, the volatility gauge, was down 4.2% on Thursday, pushing the index below 18 levels.
The Centre will take a call on the much-awaited Life Insurance Corporation’s (LIC) initial public offer (IPO) in a couple of days, a senior official told FE. The size of the offer and valuation will rely on the feedback from prospective anchor investors and the equity market conditions, he added.
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Sensex was up nearly 700 points while the Nifty 50 was above 17350 on Thursday as bulls continue to remain in control.
Nearly three months after buying Netflix stocks worth $1.1 billion, Bill Ackman has sold his stake in the online streaming service with a loss of more than $430 million. Bill Ackman had purchased around 3.1 million shares of Netflix for his Pershing Square Capital fund in January, making the fund a top-20 shareholder in the company. Netflix's share price has tanked drastically in the last few days after the company reported its first-ever loss of subscribers in a decade. The streaming company’s market value has tanked by $60 billion in 2 days (equivalent of SBI’s entire market capitalisation in Indian rupees) as the stock plummeted by more than 35%.
Asian Paints was the top Sensex gainer on Thursday morning, up 2%, followed by Reliance Industries, IndusInd Bank, and TCS.
RIL share price rose over 2 per cent to a fresh record high of Rs 2,776.40 apiece on BSE in Thursday’s trade, taking the total market capitalisation to Rs 18.76 lakh crore. The stock price of oil-to-telecom conglomerate has surpassed its previous all-time high of Rs 2,731.50 apiece hit in October last year. Mukesh Ambani’s Reliance Industries’ stock price has soared over 7.5 per cent in five days, 12.18 per cent in one month, and 15.15 per cent so far in the year. Analysts say that there was not a specific trigger on the chart when the rally started. “As of now, following the rise over the past three days, the stock has attempted to take out and break above a classical double top resistance that exists at 2748. So, as of now, it is a fresh breakout,” Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services, told FinancialExpress.com.
“Though the 17180 congestion region did stall the first advance on expected lines, consistent trades above 17050, hint at accumulation, which along with the inside bar, encourages us to play more upsides today. A reasonable target to look for, with the present move, would be 17380, while the performance near 17250 will be crucial towards setting the trend for the next week,” said Anand James – Chief Market Strategist at Geojit Financial Services.
Reliance Industries' share price hit a new high of Rs 2,771 per share on Thursday. The stock was the top stock gainer on Sensex on Thursday morning.
Today, market participants will be keeping an eye on the Fed Chairman’s speech and any hawkish comments is likely to extend gains for the greenback. We expect the USDINR(Spot) to trade with a positive bias and quote in the range of 76.05 and 76.50. Gaurang Somaiya , Forex & Bullion Analyst, Motilal Oswal Financial Services
We are witnessing a major upheaval in the rupee as the currency rose from 76.50 to 76.18 giving an opportunity for importers to hedge. Overall, the factors are indicating this might be a short reversal and we might again see a depreciating trend towards 76.60 -76.70. The strength in the US dollar index is likely to keep the rupee's appreciation limited. Besides, the fundamental factors are weaker considering the crude oil prices trading above $100/bl, widening trade deficit, FII outflows etc. Overall, we continue with our expectations for the USDINR to continue to trade in the range of 76-77.00 in the short term. Amit Pabari, managing director, CR Forex Advisors
Campus Activewear has set the price band of its IPO at Rs 278-292 per equity share of face value of Rs 5 each. The public issue comprises an entire offer for sale of up to 4.79 crore shares by its existing shareholders and promoters. The sports and athleisure footwear company will raise Rs 1,400 crore through initial public offering, which is scheduled to open on 26 April and close on 28 April. The company will not receive any proceeds from the offer for sale. Before heading into the IPO, the bidding for anchor investors will open on Monday, 25 April 2022, as per the information provided in the red herring prospectus (RHP). Read full story
Bank Nifty index was also trading with gains on Thursday morning along with broader markets. India VIX was just above 18 levels.
Sensex and Nifty started the day with gains, up more than 0.50% each.
Sensex and Nifty 50 were up with gains after Thursday's pre-open session. Nifty regained 17200.
Sensex zoomed in the pre-open session while Nifty 50 was seen closing in on 17200.
“Short term bottom seems to be in place at 16825 and Nifty can fill the gap on daily charts upto 17457. Expect further short-covering today if +17200 is sustained. Bank Nifty too has taken support 36200 and can witness pullback upto 37000-37400 levels,” said Rahul Sharma, Director & Head – Research, JM Financial.
For the fifteenth day running, petrol and diesel prices were left untouched by oil marketing companies (OMC) on April 21. Prices have been steady for more than two weeks now after OMCs hiked prices by nearly Rs 10 per litre across major cities. Petrol in the National Capital of Delhi currently retails at Rs 105.41 per litre, after the last hike of 80 paise that came more than a week 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.
In weekly options there was Call writing seen at 17,200 strike followed by 17,300 & 17,500 while on the Put side noticeable activity of writing was witnessed in 17,000 ,16,800 & 16,700 strike prices. Options data suggest an immediate trading range between 17,000 and 17,300 levels. Read full story
Nifty index opened positive on Wednesday and remained range-bound within a trading range of 100 points for the most part of the day. During the day it witnessed buying interest from 17050 to 17186 marks but the absence of follow up was not allowing it to hold at higher zones. It formed an Inside Bar and a Harami candle on daily scale and closed the day with gains of around 180 points.
BSE-listed companies such as HCL Technologies, Nestle India, ICICI Lombard General Insurance Company, L&T Technology Services, Tata Communications, Crisil, Cyient, Rallis India, Rajratan Global Wire, Sasken Technologies and Shiva Cement are the companies that will announce their March quarter results today.
After witnessing a massive sell-off during the later part of Tuesday's trade, Nifty showed a sustainable upside bounce on Wednesday and closed the day higher by 177 points. After opening with an upside gap of 87 points (body gap, not a western gap), the market showed range movement with a positive bias that continued for the whole session. The opening upside gap remains unfilled and the Nifty closed at the day’s high. A reasonable positive candle was formed on the daily chart with minor upper and lower shadow.
“If we look at Nifty, the index has formed an ‘Inside Bar’ today at the support zone. Such a pattern signals some consolidation, but many times they set up indications for trend reversals in technical analysis. Since this pattern is formed at the support, the follow up move will be very important now and a move above Tuesday’s high of 17275 will lead to a confirmation of the resumption of the uptrend in Nifty. On the flipside, this support of 16800-16850 will be crucial as if this is breached, then the index will continue the correction towards the next support of 16600. At this juncture, we advice traders to look for follow up move and trade aggressively only on a breakout beyond 16800-17275 range. Till then, focusing on stock specific approach could be a better strategy for trading,” said Ruchit Jain, Lead Research, 5paisa.com.
Markets are largely following their global counterparts, which are currently offering mixed cues. Besides, indications from the domestic front are also not very encouraging. On the index front, 16,800 would continue to act as crucial support in Nifty while the 17,250-17,350 zone would be tough to cross. Keeping in mind the scenario, participants shouldn’t read much into the single-day rebound and stay light.
~ Ajit Mishra, VP – Research, Religare Broking
SGX Nifty was trading with gains ahead of the opening bell. SGX Nifty was up more than 100 points during the early hours of trade of Thursday.