Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic benchmark equity indices ended Tuesday’s volatile session the negative territory. The 30-share BSE Sensex settled below 60,700 and NSE Nifty 50 concluded below 17850, today as well. The Sensex fell 18.82 pts or 0.03% to 60,672.72 and Nifty 50 dipped 17.90 pts or 0.10% to 17,826.70. The top gainers on the Sensex were NTPC, Tata Steel, Power Grid, Reliance Industries Ltd (RIL) and HDFC while Tata Motors, Sun Pharma, Wipro, TCS and UltraTech Cement were the top losers.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
“Bank Nifty has failed to break through the 42000 level and has fallen below the 40800 support level. There is risk that it may revisit the low of 39400, which may coincide with its 200-DMA. On the upside, 41100 will act as a strong hurdle.” –
Pravesh Gour, Sr. research analyst, Swastika Investmart.
“Nifty is again experiencing selling pressure from the 18100–18200 supply zone, but 17770 is an important critical support level. If Nifty slips below 17770, then it is likely to test its 200-DMA, which is placed around 17350, where 17650 will be an intermediate support level. On the upside, 18000 will be an immediate and critical hurdle.” – Pravesh Gour, Sr. research analyst, Swastika Investmart.
“Markets were extremely range bound with a negative bias as the shutdown of the US markets on Monday prompted investors to take a cautious stance. In fact, the markets have been more or less sluggish to negative over the past few sessions due to factors like rising interest rates, higher inflation, lingering geo-political tensions, and slowing growth. Technically, the Nifty has formed a bearish candle on daily charts which is broadly negative for the market. As long as the index is trading below 17900, the weak sentiment is likely to continue and below the same it could slip till 17750-17700. On the flip side, a quick pullback is possible if the market trades above 17900 and on further appreciation it could move up to 17950-18000.” – Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
The top gainers on the Sensex were NTPC, Tata Steel, Power Grid, Reliance Industries Ltd (RIL) and HDFC while Tata Motors, Sun Pharma, Wipro, TCS and UltraTech Cement were the top losers.
The 30-share BSE Sensex settled below 60,700 and NSE Nifty 50 concluded below 17850, today as well.
TCS, Infosys, Reliance Industries, L&T, Tata Steel are among the volume toppers on the BSE Sensex-30 index.
Alternatively, 124 stocks including Venky’s (India), Sheela Foam, Indigo Paints, Adani Total Gas, Adani Transmission, Barbeque Nation Hospitality, Seamec, Century Textiles & Industries, Adani Green Energy, BSE, Paras Defence and Space Technologies, Valiant Organics, Olectra Greentech, Mahindra Logistics, Associated Alcohols & Breweries, Ramco Industries, Rupa & Company, Biocon are at 52 week lows.
On the NSE Nifty, 40 stocks hit their 52 week highs including Fourth Dimension Solutions, Baid Finserv, Bosch, Cera Sanitaryware, Equitas Small Finance Bank, Focus Lighting and Fixtures, GNA Axles, Goyal Aluminiums, Hilton Metal Forging, ION Exchange (India), Kirloskar Industries, Kovai Medical Center and Hospital, NMDC Steel, MPS, Persistent Systems, PG Electroplast, Shree Cement, Siemens, Universal Cables among others.
On the flip side, 142 stocks fell to their 52 week lows. Zee Media, Seamec, Venky’s (India), Valiant Organics, Vipul Organics, Sheela Foam, Shreyas Shipping & Logistics, Paras Defence and Space Technologies, Pokarna, Poddar Housing and Development, Punjab Chemicals and Crop Protection, Rama Phosphates, Rupa & Company, Brookfield India Real Estate Trust REIT, Century Textiles & Industries, Graphite India, GE Power India, Indong Tea Company, Olectra Greentech, Adani Green Energy
On the BSE Sensex, 75 stocks rose to hit fresh 52 week highs. Siemens, Titan Intech, WPIL, Triveni Turbine, Uni Abex Alloy Products, Vinny Overseas, Universal Cables, Persistent Systems, PG Electroplast, Praveg, MPS, Shree Cement, Ion Exchange (India), Kaynes Technology India, Kirloskar Industries, Kovai Medical Center & Hospital, Bajaj Steel Industries, Bosch, Cera Sanitaryware and many others were among those to hit these highs.
On the NSE Nifty index, the top winners are NTPC, Tata Steel, Adani Ports, Power Grid, Britannia Industries, with NTPC up 2.83%. The biggest laggards are Apollo Hospitals, Bajaj Auto, Adani Enterprises, IndusInd Bank, Coal India, with Apollo Hospitals down 2.04%.
Reliance Industries, HDFC Bank, Adani Enterprises, ICICI Bank and HDFC are the most active Nifty 50 stocks intraday.
NTPC shares rose over 3% to Rs 174.20 after its subsidiary NTPC Green Energy Ltd (NGEL) invited bids for a rupee-denominated term loan of up to Rs 9,000 crore. The bid document showed that NGEL intends to raise fresh debt and repay the outstanding liability of Rs 8,200 crore towards NTPC by March 31, 2023, along with applicable interest costs.
Asian Paints shares fell 0.60% to Rs 2810.40 after Asian Paints (Polymers), a wholly-owned subsidiary of the company, entered into a Memorandum of Understanding (MoU) with the Government of Gujarat to set up a manufacturing facility for Vinyl Acetate Ethylene Emulsion and Vinyl Acetate Monomer (VAM) at Dahej, Gujarat.
Ambuja Cements shares rose 2.5% to Rs 362.10 and ACC shares rose 0.23% to Rs 1855.00 after both the firms stated that they will resume operations at Gagal and Darlaghat plants in Himachal Pradesh immediately. Both the firms’ new freight rates have been set 10-12% lower than the earlier rates.
“The evening star pattern showed its might by gripping the trend under a bearish cloud, but the downside momentum thereof was not enough to breach our downside marker of 17750. Given the proximity of the declining trendline, a bounce back is likely, but the prospects of a meaningful move thereof will depend on how stubborn the congestion resistance band of 17868-940 will be. Inability to clear the same or an outright fall below 17750 will expose 17300 again, but we are not leaning towards a collapse at this point.” – Anand James – Chief Market Strategist at Geojit Financial Services.
The top gainers on Nifty were NTPC, JSW Steel, HDFC Life, Tata Steel and Hindustan Unilever Ltd while top losers were Adani Enterprises, Axis Bank, ICICI Bank, Maruti and Titan.
The BSE Sensex rose 81.89 pts or 0.13% to 60,773.43 and NSE Nifty 50 climbed 34.50 pts or 0.19% to 17,879.10.
The NSE Nifty 50 rose 61.20 pts or 0.34% to 17,905.80 and BSE Sensex climbed 78.89 pts or 0.13% 60,770.43.
“Nifty support placed at 17796, followed by 17,726 and the resistance level at 17,975 and 18,084. Bank Nifty support is seen at 40,514 and 40,234 and resistance at 41,195 and 41,597.” – JM Financial.
“The BANK NIFTY bears continued to attack at the higher levels and the index witnessed selling pressure throughout the day. The trend remains negative and one should keep a sell-on-rise approach as long the index stays below the level of 41,500 where the highest open interest is built up on the call side. The next support is visible at 40000 where some amount of put writing is visible.” – Kunal Shah, Senior Technical Analyst at LKP Securities.
“On the daily charts, the Nifty has come back within the downward sloping channel from which it broke during the last week. On the hourly charts, we can observe that the Nifty has closed below the key hourly moving averages which is a sign of weakness in the short term. Prices are moving along the hourly lower Bollinger band which is expanding indicating that the fall is likely to continue. Thus, considering the above parameters we change our short-term outlook on the Nifty to sideways. The range of consolidation is likely to be 18150 – 17650. In terms of levels, 17920 – 17970 shall act as immediate hurdle one while on the downside the 17650 – 17600 which convinces with the 61.82% Fibonacci retracement level shall act as a crucial support to watch out for form short term perspective.” – Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“Prices are still hovering near their breakout levels but have closed marginally below their 9 & 21 EMA on the daily chart. The momentum oscillator RSI (14) is reading between 30-55 levels for the past two months and finding a strong overhead resistance near 55 levels. In the coming days, 17,700 will be sacrosanct support for the Nifty, while 18,100 could be an immediate hurdle. A break above 18,100 levels will infuse buying towards 18,250 levels. Similarly, a break below 17,700 will open the gate for 17,450 levels on the lower side.” – Rohan Patil, Technical Analyst, SAMCO Securities.
The US markets remained closed on Monday. On Friday, most of the US indices ended in the red territory with tech-heavy Nasdaq falling 69.56 pts or 0.56% to 11,787.27, S&P 500 dipping 11.32 or 0.28% to 4,079.09 while Dow Jones Industrial Average rose 129.84 pts or 0.39% to 33,826.69.
Japan’s Nikkei 225 was down 0.05%, Hong Kong’s Hang Seng fell 0.59% while China’s Shanghai Composite index was up 0.26% and South Korea’s KOSPI rose 0.17%.