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
“On the lower end, 17580 is placed as a crucial support; any decisive fall below 17580 may take the Nifty towards 17500/17400. On the higher end, 17700 continues to remain a strong resistance, a decisive move above 17700 may reinstate the bullishness in the market,” said Rupak De, Senior Technical Analyst at LKP Securities.
“Until the Nifty breaks below the crucial support zone of 17550 – 17500, we shall assign less weightage to the sell signal. During this consolidation phase, we can expect sector rotation and stock-specific price action. The consolidation range is likely to be 17500 – 17800 for the next few trading sessions,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“The market is witnessing a non-directional activity near the 200-day SMA (Simple Moving Average) and is also holding a lower top formation on intraday charts. Any fresh uptrend is possible only after the dismissal of the 17700 level and above the same the index could move up till 17800-17825. On the flip side, below 17700 the weak sentiment is likely to continue till 17550-17500 levels,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
Nifty first support at 17602 and then 17550 while resistance at 17716 and 17778, according to Rahul Sharma, JM Financial.
The US market ended the overnight session in red– Dow Jones Industrial Average (DJIA) fell 0.33%, S&P 500 tumbled 0.6% and the tech-heavy Nasdaq plunged 0.8%.
Asian markets were trading lower with China’s Shanghai Composite Index dipping 0.20%, South Korea’s KOSPI dropping 0.70%, Hong Kong’s Hang Seng falling 0.60% and Japan’s Nikkei 225 slipping 0.19%.
The Nifty futures on the Singapore Exchange (SGX) were trading 19 points or 0.11% higher at 17,684 in the early morning trade.