Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Thursday’s muted session flat. The NSE Nifty 50 rose 5.70 points or 0.03% to 17,624.45 and BSE Sensex rose 64.55 points or 0.11% to 59,632.35. In sectoral indices, Bank Nifty rose 115.50 points or 0.27% to 42,269.50 and Nifty Pharma fell 140.05 points or 1.11% to 12,485.25. The top gainers on Nifty 50 were NTPC, Adani Ports, Asian Paints, Bajaj Auto and Tata Motors while the top losers were Divis Lab, Hindustan Unilever, Dr Reddy, Eicher Motors and Hindalco.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
The top gainers on Nifty 50 were NTPC, Adani Ports, Asian Paints, Bajaj Auto and Tata Motors while the top losers were Divis Lab, Hindustan Unilever, Dr Reddy, Eicher Motors and Hindalco.
In sectoral indices, Bank Nifty rose 115.50 points or 0.27% to 42,269.50 and Nifty Pharma fell 140.05 points or 1.11% to 12,485.25.
The NSE Nifty 50 rose 5.70 points or 0.03% to 17,624.45 and BSE Sensex rose 64.55 points or 0.11% to 59,632.35.
“New age digital stocks like Paytm, Zomato and Nykaa have corrected hugely from their highs. Paytm and Zomato are still loss-making companies; so traditional valuation parameters don’t apply. But considering their enormous growth potential for many years to come, their risk-reward is now favourable for investors willing to take some risk,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
PDS, Lux Industries, Mastek, Softtech Engineers, Indigo Paints, Emkay Global Financial Services, Khadim India, and Superhouse are among the volume gainers on the NSE index.
11 stocks including India Glycols, Marico, Genesys International Corporation, HDFC Mutual Fund – HDFC NIFTY IT ETF, BEML Land Assets, and Orient Electric are at 52 week lows.
On the NSE Nifty, 44 stocks hit their 52-week highs including Themis Medicare, Ethos, De Nora India, Ador Welding, SML Isuzu, H.G. Infra Engineering, Focus Lighting and Fixtures, CARYSIL, Mrs Bectors Food Specialities, Hariom Pipe Industries, Wonderla Holidays, Aptech, NINtec Systems, Atul Auto, AGI Greenpac, ITC, Ice Make Refrigeration, Goyal Aluminiums, Iris Clothings, Ramky Infrastructure, Titagarh Wagons, Choice International, Ramkrishna Forgings, Likhitha Infrastructure, Anmol India, Ashiana Housing, Saksoft, and Som Distilleries & Breweries among others.
34 stocks hit their lower price band including Brightcom Group, Stampede Capital, Mangalam Organics, Servotech Power Systems, BEML Land Assets. Additionally, 20 scrips hit both bands.
On the NSE Nifty, 57 stocks hit their upper price band. Adani Power, Liberty Shoes, Kamat Hotels, Focus Lighting and Fixtures, SEPC, Emkay Global Financial Services, Mirza International, MMP Industries, Kanpur Plastipack were among the scrips.
On the NSE Nifty index, the top winners are Adani Ports, Tata Motors, Asian Paints, NTPC and HDFC Life, with Adani Ports up by 1.35%. The biggest laggards are Divi’s Lab, Eicher Motors, JSW Steel, Dr Reddy, Sun Pharma, with Divi’s Lab down 3.63%.
HDFC Bank, ICICI Bank, Axis Bank, Infosys and SBI are the most active Nifty 50 stocks intraday.
The sectoral indices traded mixed, with Nifty Pharma falling 1.17% and Nifty FMCG losing 0.53%. However, Nifty Private Bank gained 0.37% and Bank Nifty traded up by 0.23%.
The broader markets are trading largely in the positive territory, with Nifty Smallcap 100 higher by 0.2% and Nifty Midcap 100 by 0.17%.
HDFC Bank on Thursday said that the Reserve Bank of India has approved the appointment of Kaizad Bharucha as Deputy Managing Director and Bhavesh Zaveri as Executive Director for a period of three years, with effect from April 19, 2023. HDFC Bank had, on November 24, 2022, made its recommendation to the RBI for redesignation. “In continuation of our intimation dated November 24, 2022, we wish to inform you that pursuant to an application which was made by the Bank to the Reserve Bank of India (RBI) upon recommendation of the Bank’s Board of Directors in this regard,” HDFC Bank said in a regulatory filing, adding that the RBI has approved the appointment.
HDFC Capital Advisors will increase its stake in proptech startup Loyalie IT Solutions (now renamed as Reloy) to up to 9.6 per cent from 7.2 per cent currently, amid surge in adoption of technologies in Indian real estate market. According to a regulatory filing on Wednesday, HDFC Capital Advisors will acquire 1.67 lakh compulsory convertible preference share (CCPS), which post allotment will be equivalent to additional 1.8 per cent to 2.4 per cent stake in Loyalie (Reloy).The preference shares are proposed to be acquired at Rs 89.81 per equity share, taking the transaction value to Rs 1.49 crore.
The demand for gold this Akshaya Tritiya might be subdued as gold prices have surged drastically across the globe. On the MCX, the yellow metal is trading at Rs 60,230 per ten grams. Gold prices have rallied over 12% this year, and the high prices might lead to investors postponing their purchases.
Adani Ports and Special Economic Zone shares jumped 3% to Rs 678.40 today after the company’s board said it would consider its first and partial buyback of certain debt securities at a board meeting on April 22. Adani Ports will consider the buyback of the securities, which will either be denominated in Indian rupees or the U.S. dollar, in this financial year, subject to market conditions, it said in an exchange filing. The dollar bonds of Adani Ports, Adani Transmission, Adani Green Energy and Adani Electricity Mumbai were trading marginally higher today.
Adani Ports and Special Economic Zone shares jumped 3% to Rs 678.4. Adani Enterprises shares fell 0.57% to Rs 1842.75, Adani Power shares rose 0.16% to Rs 187.75, Adani Wilmar shares were up 0.15% to Rs 409, Adani Transmission shares were down 0.61% to Rs 1011.3, Adani Green Energy shares fell 0.48% to Rs 931.25, Adani Total Gas shares were down 0.45% at Rs 926.35, Ambuja Cements shares were down 0.08% at Rs 379.5, NDTV shares were down 0.65% at Rs 182.6 and ACC shares were trading flat at Rs 1747.25.
ITC share price rose 1% to Rs 402.6 and hit a fresh all-time high today after the firm informed stock exchanges that it is set to acquire Sproutlife over the next three to four years. Meanwhile, Rajiv Jain-led GQG Partners Emerging Markets Equity Fund increased its stake in ITC for the third straight quarter in a row, according to reports. With the stock price touching new highs, the company has now become the 11th listed Indian firm to cross Rs 5 trillion market capitalisation. ITC shares have risen 55% in the last one year and 5% in the past one month. At the current price of Rs 398.5 per share, the company’s market capitalization on BSE stands at Rs 4.95 lakh crore.
“The Nifty and Bank Nifty indices have seen profit booking at higher levels over the past three trading sessions. Currently, the Nifty's crucial support levels are at 17450-17500, while its resistance levels are placed at 17720-17750. Meanwhile, the Bank Nifty is experiencing support at 41900-42000 and resistance at 42350-42400. At present, there is no definitive trend in either benchmark, and it is advisable to avoid trading until these aforementioned levels are breached,” said Ameya Ranadive, CMT, CFte, Equity Research Analyst at Choice Broking.
“Upswings failed to take flight despite several attempts yesterday, as has been the case in the last few days. Consequently, a narrowing range pattern appears to be information with 17574 guarding downsides on all days. This sets up an environment for a strong push higher with the 17976 objective back in play. Alternatively, slippage below 17574 or inability to clear 17700/740 on the rise, will deflate upside hopes, but may not lead to a vertical fall as such, with 17500 initially as well as 17370/270ready to step in. Either way, expect expansion in trading ranges,” said Anand James, Chief Market Strategist at Geojit Financial Services.
“In the absence of strong positive or negative triggers, the current consolidation phase will continue. There are some sectoral trends within this consolidation phase that are significant from an investor perspective. One, IT is weak and might continue to remain weak. Two, pharma is showing resilience and this sector stands to benefit from the recent spread of Covid, though mild, in many places. Three, new age digital consumer stocks are showing strength. Institutional accumulation is happening in some of these stocks and at current levels, their risk-reward ratio appears favourable,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Adani Ports shares jumped 1.15% to Rs 666 after the board said it would consider partial buyback of debt securities in the financial year, either denominated in INR or USD, in this financial year, subject to market conditions.
ITC shares rose 0.83% to Rs 401.70. The diversified conglomerate is set to acquire Sproutlife over the next three to four years.
Equitas Small Finance Bank shares rose 0.40% to Rs 70.08 after the RBI granted the lender the Authorized Dealer Category-I (AD-I) License, which allows it to act as a dealer for foreign exchange.
NBCC shares jumped 2.26% to Rs 38.97 after the Public Works Department, Puducherry awarded NBCC with work orders for providing comprehensive design, engineering and Project Management Consultancy (PMC) services for planning, designing and execution of disabled accessible platform along roads, iconic cycle track, remodelling sewage system, recycled water network transmission and providing tertiary treatment plant works. The total consideration for this project is Rs 207.92 crore.
IndusInd Bank shares rose 0.46% o Rs 1125.10 after the bank said it has entered into a long-term loan agreement of $100 million with Japan Bank for International Cooperation (JBIC) through its Gujarat-based GIFT City branch to fund Japanese construction equipment companies in India.
Tata Communications shares fell 0.75% to Rs 1184.80 after its net profit fell 11%. The board of directors recommended a dividend of Rs 21 per share of the face value of Rs 10 each for the financial year ended March 31, 2023.
HCL Tech shares rose 0.48% to Rs 1042.95 ahead of the Q4 results announcement. The firm is expected to report a double-digit growth in revenue for the fourth quarter ended March 31, 2023, with estimates going as high as around 20.4%, aided by ramp up of deals, well distributed across large and medium sized deals.
Bank Nifty rose 62.55 points or 0.15% to 42,216.55 and Nifty IT rose 123.30 points or 0.46% to 26,810.75.