Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Friday’s muted session flat. The NSE Nifty 50 settled at 17,624.05 and BSE Sensex rose 22.71 points or 0.04% to 59,655.06. In sectoral indices, Bank Nifty fell 151.5 points or 0.36% to 42,118.00, Nifty IT rose 184.95 points or 0.69% to 26,822.10 and Nifty Pharma rose 60.5 points or 0.48% to 12,545.75. The top gainers on Nifty 50 were ITC, TCS, Britannia, Wipro and Cipla while the top losers were HDFC Life, Tech Mahindra, Adani Enterprises, SBI Life and Tata Steel.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
The top gainers on Nifty 50 were ITC, TCS, Britannia, Wipro and Cipla while the top losers were HDFC Life, Tech Mahindra, Adani Enterprises, SBI Life and Tata Steel.
In sectoral indices, Bank Nifty fell 151.5 points or 0.36% to 42,118.00, Nifty IT rose 184.95 points or 0.69% to 26,822.10 and Nifty Pharma rose 60.5 points or 0.48% to 12,545.75.
The NSE Nifty 50 settled at 17,624.05 and BSE Sensex rose 22.71 points or 0.04% to 59,655.06.
“This time around, government actions have been swifter on three counts. First, the government directed power plants as early as January this year to increase imported coal blending to 6% from 4% in April 2022, freeing up domestic coal for additional 5-6 GW capacities. Second, an emergency clause under section 11, Electricity Act, 2003 was invoked in February, directing imported-coal-based power plants, more than half of which were non-operational or operating at low plant load factors till March, to operate at full capacity. Third, renewables capacities commissioned from May 2022 to March 2023 would free up 3-4 GW of thermal capacities. These measures should reduce the peak deficit levels despite an increase in peak demand,” said Manish Gupta, Senior Director, CRISIL Ratings.
“Indian Rupee traded on a flat on Friday. weak domestic equities and some strength in US Dollar put downside pressure on Rupee. We expect Indian Rupee to trade with a negative bias on risk aversion in global markets amid concerns over global economic slowdown and positive US Dollar. FII outflows may also put further downside pressure on the domestic currency. However, softening of crude oil prices may prevent a sharp fall in Rupee. Market participants may remain cautious ahead of manufacturing and services PMI data from the US. USDINR spot price is expected to trade in a range of Rs 81.70 to Rs 82.80 in the near term,” said Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas.
“The weaker set of economic numbers from the US has once again renewed the recessionary fear and has started outweighing the OPEC+-related supply fear. WTI Oil prices have declined 7% for the week so far and are headed for their first weekly decline after five weeks of consecutive gains. The sentiments have turned bearish with the expectation of further rate hikes fuelling recession fear that could dent the oil demand. We expect oil prices to trade between the $74-$80 range for the upcoming week. Medium to long-term prospects remain bullish but short-term could see uneven trading patterns amid uncertainty over the US Fed rate hike decision,” said Mohammed Imran, Research Analyst at Sharekhan by BNP Paribas.
Certus Capital has invested Rs 80 crore in Aakasa -developed by Techno Group, Fortune Realty and Gala. With this transaction, Certus has invested more than Rs 100 crores in this sub-market alone, over the last 6 months.
Domestic indices breached crucial levels. The NSE Nifty 50 slipped below 17660 and BSE Sensex tanked 200 points. Bank Nifty fell below 42000.
TIPS Industries, India Motor Parts and Accessories, Nazara Technologies, Cyient, Khadim India, Shiva Mills, Vodafone Idea, and Tata Investment Corporation are among the volume gainers on the NSE index.
Alternatively, 7 stocks including Aavas Financiers, BEML Land Assets and Genesys International Corporation are at 52-week lows.
On the NSE Nifty, 37 stocks hit their 52-week highs including ITC, Bajaj Auto, Cyient, Anupam Rasayan India, Choice International, Glenmark Pharmaceuticals, Godrej Consumer Products, Global Surfaces, Hilton Metal Forging, Marksans Pharma, Saksoft, Royal Orchid Hotels, Superhouse, TARC and W S Industries.
On the NSE Nifty, 41 stocks hit their upper price band. ABM International, Akshar Spintex, Bal Pharma, Bodhi Tree Multimedia, Dc Infotech And Communication, Hilton Metal Forging, Indo Thai Securities, JITF Infralogistics, Kamat Hotels were among the scrips. 34 stocks hit their lower price band including Fourth Dimension Solutions, Balkrishna Paper Mills, Brightcom Group, Future Consumer, LCC Infotech, National Steel And Agro Industries, and Servotech Power Systems. Additionally, 12 scrips hit both bands.
ITC, BPCL, Asian Paints, Wipro, Kotak Bank, Divis Lab, Cipla, Hero Motocorp, Nestle India and TCS were the top gainers while Tech Mahindra, Tata Steel, Hindlaco, HDFC Life, UltraTech Cement, HDFC Life, JSW Steel, Tata Motors, Bajaj Finserv and Larsen & Toubro were the losers.
HDFC Bank, ICICI Bank, Axis Bank, HCL Tech and SBI are the most active Nifty 50 stocks intraday.
The sectoral indices traded mixed, with Nifty Pharma rising 0.21% and Nifty IT climbing 0.15%. However, Nifty PSU Bank tanked by 1.06% and Bank Nifty traded down by 0.13%.
The broader markets traded in negative territory, with Nifty Smallcap 100 lower by 0.4% and Nifty Midcap 100 by 0.5%.
“The results of RIL today and ICICI Bank tomorrow can have a mild impact on the market. RIL is likely to post good numbers in its Oil and chemicals segment and retail segment. But a sharp spurt in aggregate profitability is unlikely. On the other hand, ICICI Bank is likely to post numbers ahead of market expectations, thereby giving further resilience to Bank Nifty. The Nifty range of 17600-17800 is likely to hold in the near-term,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“The Q4 results season, so far, has been a mixed bag with IT disappointing and banking giving early indications of continuing strength. Broadly, this trend is likely to sustain. But there can be occasional pull backs in IT from the sharp correction after the Infosys results. HCL Tech results have not disappointed; some IT midcaps may beat market expectations. Even then, a strong and sustainable rebound in IT is difficult, given the weak global cues,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“The narrowing range pattern discussed yesterday continued to be in play, with the expected breakout remaining elusive. With 17574 continuing to hold firm, we may play upsides while above the same, but a vertical rise beyond 17830 looks less likely to unfold right away. Alternatively, continued inability to clear 17700 or outright slippage past 17574 will allow weakness to extend till 17500-440, though a collapse as such is less expected, with 17370/270 ready to step in,” said Anand James, Chief Market Strategist at Geojit Financial Services.
Life Insurance Corporation of India (LIC) shares fell 1.24% to Rs 545.15 after the company’s premium in March FY23 dropped 32% compared to the year-ago month, but the premium for FY23 grew by 17% over the previous year. The retail annual premium equivalent growth stood at 10% on-year in March, according to reports.
PNB Housing Finance shares rose 2% to Rs 434.9 after Nippon India Mutual Fund bought 5 lakh equity shares or around 0.3% stake in the housing finance company via open market transactions at an average price of Rs 133 per share on Thursday. Goldman Sachs Investments Mauritius I Ltd was the seller in this deal.
Cyient shares jumped 6% to Rs 1158.6 after the company reported a 4.6% sequential rise in consolidated profit at Rs 163.2 crore for the quarter ended March FY23 on strong topline and operating numbers. Revenue for the quarter at Rs 1,751.4 crore grew by 8.2% and dollar revenue at $213 million increased by 8.1%, with constant currency revenue growth at 6.6% on-quarter.
Hindustan Zinc shares fell 0.92% to Rs 324.3 ahead of the quartrly results announcement.
Reliance Industries Ltd shares rose 0.14% to Rs 2,349.25 ahead of the Q4 results announcement.
HCL Technologies share price jumped 2.79% to Rs 1,066.45 today after the IT company declared an interim dividend of Rs 18 per share, taking the total dividend for the financial year 2023-24 to Rs 48 per share. In Q4 FY23, the company’s net profit jumped 11% on-year to Rs 3,983 crore, surpassing analyst estimates against Rs 3,593 crore in the same quarter last year. The revenue came in at Rs 26,606, up 18% from Rs 22,597 crore during the same quarter in the previous year. The record date has been fixed as April 28, 2023, for the payment of the interim dividend and the payment date has been set as May 9, 2023.
The top gainers on Nifty 50 were HCL Tech, UPL, Divis Lab, HDFC Life and Kotak Bank while the top losers were Tech Mahindra, Eicher Motors, Tata Steel, JSW Steel and Tata Motors.
In sectoral indices, Bank Nifty jumped 105.25 points or 0.25% to 42,374.75 and Nifty IT advanced 62 points or 0.23% to 26,699.35.
The NSE Nifty 50 rose 22 points or 0.12% to 17,646.45 and BSE Sensex rose 65.03 points or 0.11% to 59,697.38.
“The fight between the bulls and the bears continued in the index and the broad range of 42,000-42,500 still remains intact. A break on either side will decide the clear momentum for the index. The undertone within the range remains bullish as long as it holds the level of 42000 on the downside. The support if breached will lead to a sharp correction toward the 41,500 level,” said Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities.
Bank Nifty first support at 42138 and then 42004 while resistance at 42394 and 42516, according to Rahul Sharma, JM Financial.