Share Market Today LIVE | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Updates 16 December | The Financial Express

Share Market Highlights: Nifty ends below up 18300, Sensex closes 450 pts down amid volatility; TCS, ITC lag

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices extend their losses for the second session as Nifty gives up 18,300 and Sensex ends 400 points lower.

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Share Market News Today | Sensex, Nifty, Share Prices Highlights: The domestic indices BSE Sensex and NSE Nifty closed in the red amid volatility. Sensex shed over 400 points, settling at 61,360, Nifty dropped 140 points to close at 18,274 as bulls-bears tussled for dominance today. The broader markets closed in the red, and the sectoral indices wiped their gains as well. TCS, Infosys, ICICI Bank and SBI were the laggards, dragging the indices. The government slashed windfall tax, giving Reliance and ONGC a boost, however the scrips also closed 0.41% and 0.24% lower respectively.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 16 December

16:39 (IST) 16 Dec 2022
Nifty’s next key support at psychological 18001 mark

“Stocks at Dalal Street went for a toss, along with other global markets, as there is chatter all across the globe that the Fed may not change its hawkish tune so soon. The dot plot showed that the terminal rate projection rose to 5.1% from 4.6% in September. Inflation remains a key concern and the central banks across the globe will try hard to fight against it. Technically, Nifty’s next key support is seen at the psychological 18001 mark, while the immediate hurdle is at 18697 mark.”

Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities

16:04 (IST) 16 Dec 2022
Markets extended their rout

“Global markets extended their rout as the ECB and BoE followed the Fed in raising policy rates by half a percent while maintaining a hawkish tone on inflation. The aggressiveness of central banks in combating inflation has raised concerns about the global economy's health. Despite attempts to recoup losses, a lack of global support pushed the indices back into negative territory.”

Vinod Nair, Head of Research at Geojit Financial Services

15:50 (IST) 16 Dec 2022
Top gainers, losers

Tata Motors, Hindustan Unilever, Nestle India, HDFC Bank and UPL were Nifty 50's top gainers while Adani Ports, M&M, BPCL, Asian Paints and Dr Reddy's were the day's top losers, with Adani Ports losing 2.83%.

15:42 (IST) 16 Dec 2022
Sensex, Nifty close in red

Domestic indices extend their losses as Nifty gives up 18,300, ending at 18,269 and Sensex ends 400 points lower at 61,337.

15:14 (IST) 16 Dec 2022
Tata Motors up 1.24%

As bulls and bears fight for dominance on Dalal Street, the indices trade in red. However, Tata Motors outperforms as the scrip is trading 1.24% higher at Rs 421.85.

14:47 (IST) 16 Dec 2022
Is real estate set for success in 2023?

“Due to the expected forthcoming stability and increased demand, it appears that the Indian real estate market will continue to experience strong and positive momentum in FY23. A positive economic outlook will aid in the market's growth. As rating agencies predict a growth of 8% to 9%, the expansion of commercial operations, strengthening of the labor market, and rising income levels, all point towards increasing demand for housing. In 2022, the sector’s growth was driven by the luxury market, and this pattern is expected to continue in 2023 as well. Larger, high-end properties will experience higher demand, owing to the rising trend of WFH and hybrid working models.”

Cyrus Mody, Managing Partner, Viceroy Properties

13:54 (IST) 16 Dec 2022
Midcap stocks tumble

Midcap stocks fall intraday amid increasing volatility with the Nifty Midcap 50 and Nifty Midcap 100 index down 1.23% and 1.31% respectively. Polycab, Union Bank, Yes Bank, and Punjab National Bank are some of the top midcap losers of the day.

13:18 (IST) 16 Dec 2022
Elin Electronics IPO opens next week

Elin Electronics Limited IPO is set to open for public subscription on 20 December, and will close on 22 December. The company has fixed the price band at Rs 234 – 247 per share for its maiden public offer. The public issue with a face value of Rs 5 per share comprises a fresh issue aggregating up to Rs 175 crore, and an offer for sale (OFS) of up to Rs 300 crore by existing shareholders.

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12:50 (IST) 16 Dec 2022
Nifty, Sensex trim losses

Nifty, Sensex off day's low. The NSE Nifty index recovers 125 points from the intraday to trade at 18,396, while the BSE Sensex index recoups 400 points at 61,766 as bulls-bears tussle for dominance.

12:13 (IST) 16 Dec 2022
November Trade deficit at 7-month low

‘India's November Trade deficit stood at a 7-month low level of $23.89 billion. The merchandise exports witnessed a flat growth of 0.6% YoY at $31.99 billion whereas Imports stood at $55.88 bn, a growth of 5.39% YoY. The Gems & Jewellery exports grew 4.61% to $2.5 bn in the month of November on the back of marriage season demand. Gold imports dropped over 23% to $3.24 bn, largely on account of traders and manufacturers stocking up on raw materials in the run-up to the festive season.'

– Colin Shah, MD, Kama Jewelry

12:11 (IST) 16 Dec 2022
GMM Pfaudler falls 18%

Shares of GMM Pfaudler fell as much as 18.1% on Friday, their worst intraday percentage fall in nearly 5 years, after a report said that one of its promoters will sell its majority stake in India's largest glass-lined equipment maker. Pfaudler Inc, which holds a 31.9% stake in GMM Pfaudler, will sell about 29.88% of its holding via block deals at a floor price of Rs 1,700. (Reuters)

11:58 (IST) 16 Dec 2022
Bank Nifty down 280 points

The Bank Nifty index is down 0.6% at 43,213 today after touching a record high and topping the 44,000 level earlier this week.

11:55 (IST) 16 Dec 2022
ONGC, Reliance Industries up 0.5%

ONGC, Reliance Industries outperform, rising 0.5% on the back of the slash in windfall tax as the markets fall. ONGC was up over 2% intraday, while Reliance Industries touched a day's high of 2,618.80, 1.5% higher.

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11:21 (IST) 16 Dec 2022
Nifty PSU Bank down 2.31%

The Nifty PSU Bank index loses 2.3% intraday, continuing the previous day's losses. Punjab and Sind Bank (down 4.93%), Union Bank of India (down 4.55%) Central Bank of India (3.43%) and Indian Bank (down 3.41%) are the index's biggest laggards. The banking index has risen over 16% in one month.

11:12 (IST) 16 Dec 2022
Bears take over D-Street

Nifty, Sensex continue to fall after paring losses intraday. The BSE Sensex drops 400 points to trade at 61,384, while Nifty gives up the 18300 level, down 0.75% at 18,278.

10:30 (IST) 16 Dec 2022
Nifty outlook

“While offering little or no visibility on the upside prospects for the last few days, we had been systematically pointing towards the extent of downsides that were to follow. We would soon be entering the 18,300-100 band which we had marked down yesterday. This region has the potential to either cool down the nerves, or to set off a powerful plunge that could revive talks of 16,800 again. However, the favoured view expects a pull back towards 18,480-520 region first, performance at which region would be crucial for setting further moves. A collapse is not the most favoured outcome though.”

Anand James, Chief Market Strategist, Geojit Financial Services

10:16 (IST) 16 Dec 2022
Bank Nifty drops 300 points

The Bank Nifty index drops over 300 points or 0.73% to trade at 43,182.

09:39 (IST) 16 Dec 2022
Sensex, Nifty pare losses

Though the benchmark Indian indices Nifty and Sensex opened in red, they trimmed their losses to trade flat. Nifty is at 18,428, up 0.07% and Sensex is 19 points higher at 61,818.

09:27 (IST) 16 Dec 2022
Sensex, Nifty open in red

Sensex loses 170 points, to trade at 61,625 while Nifty gives up 18,400, falling 0.25% to trade at 18,376.

09:11 (IST) 16 Dec 2022
Near term risk aversion in global markets

“There is a near term risk aversion in global equity markets. Following the 50 bp rate hike and hawkish message from the Fed on 14th the ECB and BoE also hiked rates on 15th by 50 bps each and delivered, perhaps, a more hawkish message than the Fed. Other central banks like the Swiss National Bank and Bank of Thailand also have raised rates. This synchronised rate hiking cycle has impacted sentiments leading to sharp cuts of more than 3% in Nasdaq, CAC and DAX. India is likely to be less impacted by the bearish trend but investors can wait for the global markets to stabilise before making fresh commitments in this overvalued market. Moving some money to fixed income makes sense since fixed income returns are turning attractive.”

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

09:10 (IST) 16 Dec 2022
Sensex, Nifty in red

Domestic indices trader lower during the pre-open session, following weak global cues as Wall Street plunged overnight and Asian markets lag. Sensex closed the session at 61,552, while Nifty gave up 18,350 to close at 18,319.

08:54 (IST) 16 Dec 2022
Trade deficit narrows

India’s merchandise exports posted a marginal increase in November on an on-year basis to $31.99 billion, data released by the commerce ministry showed. The rise in exports in November was a mere 0.6%. The latest trade numbers come after data released last month showed exports contracted 17% in October to $29.78 billion, making it the first time since February 2021 that monthly exports had fallen below the $30-billion mark and declined on an on-year basis. While exports barely rose in November, imports posted a 5.4% rise to $55.88 billion.

08:44 (IST) 16 Dec 2022
Domestic markets could start lower

Weak global equities is indicating a rough start for local markets as the theme still revolves around the Federal Reserve Chairman Jerome Powell’s hawkish stance on interest rates going ahead. Another concern is the rupee has been gaining strength against the dollar at a rapid pace, which could prompt global investors to pull out money from the local equity markets resulting in a downward spiral. For traders, sell between 18475-18500 zones with targets at 18345 and 18127.

– Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities

08:38 (IST) 16 Dec 2022
Stocks under F&O ban on NSE

IRCTC, Punjab National Bank (PNB), Indiabulls Housing Finance, BHEL, Delta Corp, and GNFC are the six stocks under the National Stock Exchange F&O ban list for 16 December. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.

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08:36 (IST) 16 Dec 2022
FIIs net sellers

Foreign institutional investors (FIIs) net sold shares worth Rs 710.74 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 260.92 crore on 15 December, according to the provisional data available on the NSE.

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08:11 (IST) 16 Dec 2022
Technical view

“A long bear candle was formed on the daily chart on Thursday, post small upside bounce of few sessions. Technically, this pattern indicates a sharp downward reversal in the market after the formation of lower top on Wednesday at 18696 levels. This is not a good sign and indicates more weakness in the short term.

The short term trend of Nifty seems to have reversed down after a small pull back rally recently. The immediate support is placed at 18350 levels and a move below this support could drag index down to the next support of around 18150-18100 levels in the short term. Immediate resistance is placed at 18550 levels.”

Nagaraj Shetti, Technical Research Analyst, HDFC Securities

08:10 (IST) 16 Dec 2022
Bank Nifty view

“The Bank Nifty index witnessed the first big sell-off after a spectacular rally in the past 2 months. The index to resume the uptrend once again will have to surpass the hurdle of 44,000 on a closing basis. The index remains in a sell-on-rise mode and if the follow-up selling continues it can drag the index toward the 43,000-42,800 zone. The selling was seen across the board which has impacted the overall breadth of the markets.”

Kunal Shah, Senior Technical Analyst, LKP Securities

08:08 (IST) 16 Dec 2022
Wall Street overnight

US stocks lose gains and extend losses as central banks across Europe and the US Fed risk the chance of a recession to bring inflation under control by further interest rates. The Dow Jones Industrial Average gave up 2.2%, while the S&P 500 slid 2.5% as 90% of its constituents closed in the red and Nasdaq sunk 3.2%. This tumble has erased the indices’ weekly gains.

08:07 (IST) 16 Dec 2022
Asian markets extend decline

The Asia-Pacific markets continued their decline, with Japan’s Nikkei down 1.63%, South Korea’s KOSPI 0.43% lower, Hong Kong’s Hang Seng loses 0.92% while the Shanghai Composite is down by 0.33%.

First published on: 16-12-2022 at 08:02 IST