Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Wendesday’s session on a flat note. The NSE Nifty 50 dipped 9.5 points or 0.05% to 19,398.50 and BSE Sensex fell 33.01 points or 0.05% to 65,446.04. In sectoral indices, Bank Nifty tumbled 149.65 points or 0.33% to 45,151.80, Nifty Auto jumped 1.64%, Nifty FMCG surged 1.82% and Nifty PSU Bank soared 1%. The top gainers on Nifty 50 were Bajaj Auto, Divis Lab, HDFC Life, Maruti Suzuki and HeroMotocorp while the losers were HDFC Bank, HDFC, Eicher Motors, UPL and Tata Consumer Products.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Benchmark indices NSE Nifty 50 and BSE Sensex ended Wednesday’s session on a flat note. “Global worries along with moderation in Service PMI data briefly impacted the domestic market’s rally. Heightened trade tensions between the US and China, coupled with uncertainties surrounding the upcoming release of FOMC minutes, tested the risk appetite of global investors. However, the market's last-minute broad-based recovery serves as a reaffirmation of investors' confidence in the Indian economy,” said Vinod Nair, Head of Research at Geojit Financial Services.
The NSE Nifty 50 fell 9.5 points or 0.05% to 19,398.50 and BSE Sensex dipped 33.01 points or 0.05% to 65,446.04.
Resolüt Partners, a Mumbai-based law firm that specializes in complex cross-border PE/M&A transactions has advised GIC Singapore (“GIC”) on the set-up of its $2 billion (Rs 16,000 cr) majority owned smart meter platform (“Platform”) in Singapore with a leading meter manufacturer, Genus Power Infrastructures Limited (“Genus”). GIC will hold 74% stake in the Platform with Genus holding 26% and also being the exclusive supplier. GIC will also invest USD 63.3 Mn (Rs 519 cr) for acquisition of warrants convertible into a 15% stake in Genus.
Apollo Micro Systems, JITF Infralogistics, MMTC, Bedmutha Industries, Shivam Autotech, Ahluwalia Contracts (India), The United Nilgiri Tea Estates Company, Shivalik Bimetal Controls, Sunflag Iron And Steel Company, eMudhra, Dredging Corporation of India, Shree Pushkar Chemicals & Fertilisers, Maithan Alloys, Laxmi Cotspin, KDDL, Mangalore Refinery and Petrochemicals, Munjal Auto Industries, NRB Bearing, Jullundur Motor Agency (Delhi), Hisar Metal Industries, HPL Electric & Power, BF Utilities, Themis Medicare, Aegis Logistics and Genus Power Infrastructures were among the volume gainers.
BEML Land Assets, Bodhi Tree Multimedia, HMA Agro Industries, Jet Airways (India), Arshiya, Paras Petrofils, Sanco Industries and Viji Finance were among 9 stocks that hit 52-week lows.
Ahluwalia Contracts (India), Anand Rathi Wealth, Angel One, AVG Logistics, Bajaj Consumer Care, Bajaj Finance, Bank of Baroda, Bharat Bijlee, Bharat Heavy Electricals, Bombay Dyeing & Mfg Company, Bharat Petroleum Corporation, Can Fin Homes, Capacit’e Infraprojects, CCL Products (India), Chennai Petroleum Corporation, CMS Info Systems, Coforge, Colgate Palmolive (India), Dreamfolks Services, Dynamatic Technologies, Elecon Engineering Company, Electrosteel Castings, eMudhra, Equitas Small Finance Bank, Ethos, Exide Industries, Fertilizers and Chemicals Travancore, FDC, Foods & Inns, Fusion Micro Finance, Ganesh Housing Corporation, Genus Power Infrastructures, GHCL Textiles, Globus Spirits, Goldstone Technologies, GPT Infraprojects, Gufic Biosciences, HBL Power Systems, HCL Technologies, Hero MotoCorp, Hindustan Unilever, HPL Electric & Power, ICICI Bank, IDFC, Indian Hume Pipe Company, InterGlobe Aviation, Ind-Swift Laboratories, IndusInd Bank, ITC, The Jammu & Kashmir Bank, Jagran Prakashan, JBM Auto, Jindal Saw, Jindal Steel & Power, JITF Infralogistics, Jindal Stainless, Karur Vysya Bank, Kaynes Technology India, KDDL, Kirloskar Pneumatic Company, Kovai Medical Center and Hospital, Kriti Industries (India), The Karnataka Bank, LTIMindtree, Maha Rashtra Apex Corporation, Maharashtra Scooters, Manorama Industries, Samvardhana Motherson International, Mangalore Refinery and Petrochemicals, Munjal Showa, Muthoot Finance, Ndr Auto Components, NRB Bearing, The Orissa Minerals Development Company, Patel Engineering, Power Finance Corporation, Poonawalla Fincorp, Power Mech Projects, Raymond, RBL Bank, Repco Home Finance, Repro India, Rico Auto Industries, R. S. Software (India), Sandhar Technologies, Sanghvi Movers, Sat Industries, Shivalik Bimetal Controls, Schneider Electric Infrastructure, Som Distilleries & Breweries, Shriram Finance, SJS Enterprises, SJVN, Steel Strips Wheels, Sundaram Finance, Sundram Fasteners, Sunflag Iron And Steel Company, Swaraj Engines, Swelect Energy Systems, Tech Mahindra, Time Technoplast, Ujjivan Financial Services, Ujjivan Small Finance Bank, V2 Retail and Vardhman Polytex were among 116 stocks that hit 52-week highs today.
HDFC Bank, Bajaj Finance, ICICI Bank, HDFC, Bandhan Bank, PNB, ITC, Axis Bank and HeroMotocorp were the most active stocks on NSE.
In sectoral indices, Nifty Bank fell 0.32%, Nifty Financial Service tumbled 0.8%, Nifty Auto gained 0.94%, Nifty FMCG jumped 1.42% and Nifty PSU Bank rose 0.86%.
All broader market indices were in green – Nifty Next 50 rose 0.66%, Nifty Midcap 50 rose 0.35%, Nifty Smallcap 100 jumped 0.67% and Nifty Total Market rose 0.15%.
Kotak Bank stock may offer investors up to 14% returns on favourable prospects and upside potential, Prabhudas Lilladher said in a research note citing technical indicators. “The RSI indicator has flattened out after the slide and has shown gradual rise to strengthen the overall trend,” said the note. The brokerage report recommended investors to buy the Kotak Bank shares with a target price of Rs 2,110, nearly 14% higher than the current market price of Rs 1,854.
Genus Power Infrastructures share price jumped 19% to Rs 168.70 and made a fresh all-time high today after the company signed definitive agreements with Gem View Investment, an affiliate of GIC, Singapore, for setting up a platform for undertaking advanced metering infrastructure service provider (AMISP) concessions. GIC affiliate will hold a 74% stake for $600 million, while Genus will hold a 26% stake in the platform with an equity investment of about $200 million. The partners have committed to an initial pipeline with a capital outlay of $2 billion over a period of three years, according to Genus.
LTIMindtree share price jumped 1.32% to Rs 5324.3 today after the Index Maintenance Sub-Committee (Equity) of NSE Indices decided to exclude HDFC and include LTIMindtree in Nifty50 with effect from July 13. Jindal Steel & Power is going to replace HDFC in the Nifty 100 index and LTIMindtree in the Nifty Next 50 index, while Mankind Pharma will replace HDFC in the Nifty 500 index and Jindal Steel & Power in the Nifty Midcap 150 index. LIC Housing Finance will replace HDFC in the Nifty Financial Services index. HDFC’s share price tanked 2.31% to Rs 2814.25.
Domestic indices opened on a flat note. The NSE Nifty 50 was trading at 19,392.35 while BSE Sensex fell 57.27 points or 0.09% to 65,421.78.
“The immediate hurdle for Bank Nifty is now at 45500, where call writing was observed. If the index manages to sustain above this level, it is likely to witness further upward momentum toward the target of 46000. On the downside, the index finds support at 45000. This level coincides with the highest open interest on the put side, suggesting that it will act as a cushion for the bulls in case of any downward pressure,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
“Bank Nifty hourly momentum indicator has a negative crossover and negative divergence which indicates a loss of momentum on the upside. Thus, after a strong up move a consolidation is likely in the short term. Overall, the range of consolidation is likely to be 45000-45600,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
Bank Nifty formed a Doji which means indecision. Caution advised on longs until 44500 is not sustained. First support at 45056 and then 44746 while resistance at 45711 and then 46057, according to Rahul Sharma, JM Financial.
“The short-term texture of the market is still on the positive side. For the trend, the following traders now 19300-19250/65200-65000 would act as key support zones while 19450-19500/65700-65900 could be the key resistance areas for the index. On the other side, below 19250/65000 traders may prefer to exit out from the trading long positions,” said Shrikant Chouhan, Head of Research (Retail), Kotak Securities Ltd.
“The support levels to watch are the bullish gap left yesterday around 19200–19250 followed by strong support at the psychological level of 19000. On the upside, the immediate resistance is at 19500–19540 in the uncharted zone. As we anticipate a consolidation phase in the key indices, it would be prudent to shift focus towards thematic approaches and specific stocks that offer better performance opportunities,” said Rajesh Bhosale, Technical Analyst at Angel One Ltd.
“Over the next few trading sessions, we expect the Nifty to consolidate in the range of 19500 – 19300 and a dip towards the 19300 should be used as a buying opportunity. Overall, the uptrend is intact, and we expect levels of 19500. In terms of levels, 19300– 19270 shall act as a crucial support zone while 19450 – 19500 shall act as a crucial resistance zone,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“One should maintain a buy-on-dips approach on Nifty and avoid any short position until breaks 19200. The immediate support for the Nifty index stands at 19300 where maximum open interest in put options data is seen and on the upper-end Nifty can face resistance at 19500 where maximum open interest in calls is seen, if Nifty breaks 19500 levels we can see some further upside move towards 19700,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
Hanging Man/Doji kind of candle indicating caution. Failure to cross19435 can mean Nifty can see profit booking. First support at 19288 and then 19201 while resistance at 19435 and then 19500, according to Rahul Sharma, JM Financial.
Foreign institutional investors (FII) bought shares worth net Rs 2,134.33 crore, while domestic institutional investors (DII) sold shares worth a net Rs 785.48 crore on July 4, according to the provisional data available on the NSE.
The National Stock Exchange has put Indiabulls Housing Finance to its F&O ban list for July 5. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.
Benchmark indices NSE Nifty 50 and BSE Sensex may remain volatile amid mixed global cues. The GIFT Nifty futures were trading 22 points or 0.11% higher at 19,515.50. “The market is maintaining its optimism; however, a profit-booking tendency is visible at the upper band as the recent rally has raised the market to the historic new high range. The momentum of the market has shifted from the frontlines of this year to the laggards like IT, commodities, and PSUBs. The market is taking a breather ahead of the upcoming Q1 results. Pharma and banking displayed a positive trend, while the auto sector faced selling pressure following a mixed set of sales data for the month of June,” said Vinod Nair, Head of Research at Geojit Financial Services.
Benchmark indices NSE Nifty 50 and BSE Sensex may remain volatile amid mixed global cues. The GIFT Nifty futures were trading 22 points or 0.11% higher at 19,515.50.
Asian markets were trading in red – China’s Shanghai Composite Index plunged 0.45%, South Korea’s KOSPI fell 0.34%, Japan’s Nikkei 225 tumbled 0.41%, Asia Dow tumbled slipped 0.51% and Hong Kong’s Hang Seng tanked 1.21%.
The GIFT Nifty futures were trading 22 points or 0.11% higher at 19,515.50.