Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets ended with losses on Tuesday as headline indices gave up all gains in the dying hour of trade. S&P BSE Sensex closed 105.82 points or 0.19% lower at 54,364 points while the NSE Nifty 50 index ended 61.80 points or 0.38% lower at 16,240. Bank Nifty outperformed, closing 0.60% higher while India VIX remained above 22 levels. Tata Steel was the worst-performing Sensex stock on Tuesday, tanking 7.22%, followed by Sun Pharma and NTPC. Hindustan Unilever was the top gainer, up 3%. Asian Paints, IndusInd Bank, and Ultratech Cement were some of the other gainers.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
With stock prices of high growth technology companies in a free fall across the globe, Nithin Kamath, Founder and CEO of Zerodha, has linked the fall to the dot-com era. “The sharp fall in the stock prices of high growth tech companies across the globe is getting crazy, feels like the dot-com boom,” Nithin Kamath said in a series of tweets on Tuesday. Technology stocks, across the globe, have had a difficult time in 2022 so far with most tanking sharply. The tech-heavy NASDAQ index is down 26.5% so far this year.
Sensex gives up gains, closes 105 points or 0.19% lower at 54,364. Nifty 50 index ended the day's trade at 16240, falling 61 points. Tata Steel share price tanked 7%.
Nifty 50 index gave up 16250 with minutes left before the closing bell on Tuesday. The index was down 59 points or 0.37%.
Sensex was trading flat once again just ahead of the closing bell as the index gave up all gains. Nifty 50 was below 16300.
Nifty facing resistance at 16,400, said Rahul Sharma, Director & Head – Research JM Financial. Nifty 50 hit a high of 16,404 earlier in the day but tumbled down from there.
PVR share price jumped over 4% in early trade on Tuesday, a day after the multiplex chain operator reported consolidated net loss to Rs 105.49 crore during the fourth quarter ended March 2022, compared to net loss of Rs 289.21 crore in the January-March quarter a year ago. PVR stock jumped over 4.7% to touch an intraday high of Rs 1,785 as against Rs 1,704.95 at previous close on the BSE. PVR share price has rallied 32% so far this year and analysts expect up to 43% potential rally going forward given that PVR has plans to push the pedal by opening 125 new screens across India to grab market share and increase reach. The post pandemic recovery is also slated to push growth in FY23.
Delhivery IPO will open on 11 May for subscription and close on 13 May. The Rs 5,235-crore issue will be sold at a price band of Rs 462-487 per share. Upon successful listing on BSE and NSE, Delhivery will join the likes of other listed companies Blue Dart Express, TCI Express, and Mahindra Logistics. The book running lead managers to Delhivery IPO are Kotak Mahindra Capital Company, Morgan Stanley India Company Private Limited, BofA Securities India Limited, and Citigroup Global Markets India Private Limited. Read full story
Domestic markets opened flat, dancing between gains and losses amid bearish cues from global peers. However, entering the afternoon session, both Sensex and Nifty were seen moving higher to trade with gains. S&P BSE Sensex was up more than 300 points or 0.64% to regain 54,800 while the NSE Nifty 50 index gained 90 points or 0.57% to touch 16,400. While the benchmark looked to beat the losing trend, as many as 68 stocks on the BSE were down at their 52-week lows and 47 traded at fresh highs.
After witnessing volatile morning trade, Sensex and Nifty rallied and soared higher at 12 PM. Sensex was above 54,700 while NSE Nifty 50 breached 16,350.
Jefferies global equity strategist, Chris Wood continues to believe in India’s growth story, terming it as Asia’s best long-term structural story in terms of equities in his latest GREED & fear note. Despite the headwinds that domestic markets are facing, Chris Wood advised investors to accumulate their favourite Indian stocks on weakness. The ace market strategist said that the government remains focused on reforms despite the inevitable setbacks triggered by Covid. “GREED & fear continues to believe that the long-term dividends from many of these reforms will become self-evident over the due course of time ….” he added.
Ultratech Cement was up 2% as the top Sensex gainer, followed by Bharti Airtel, Hindustan Unilever, and Bajaj Auto.
Rainbow Children’s Medicare shares made a tepid listing on the stock exchanges on Tuesday, amid bearish market momentum. Shares of Rainbow Children’s Medicare began trading at Rs 506 per share, down 6.6 per cent or Rs 36 from the upper end of IPO price band of Rs 542 per share. At the time of listing, the market capitalisation of the company stood at Rs 5,135.99 crore. The overall market sentiment was negative as BSE Sensex and NSE Nifty 50 were down in the red. The IPO was subscribed 12.43 times with all investor categories oversubscribing their portion of the issue. Read full story
“The mother market US has turned distinctly weak with Nasdaq, S&P 500 and Dow at 1-year lows. European markets are moving in tandem with US markets. Relatively India is doing better thanks to the consistent buying by DIIs and retail investors. Retail investors should not rush in to buy aggressively now since the market is not at buyable valuations. Since there is a risk off environment globally, FIIs are likely to sell at every bounce in the market. High-quality stocks like leading financials may be bought in small quantities. Rupee depreciation, which may continue, will impart resilience to IT stocks,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Sensex rose 150points or 0.3% to breach 54,600 levels on Tuesday morning. Nifty 50 index was above 16300.
Sensex started the day flat, moving between gains and losses while NSE Nifty 50 regained 16300. Bank Nifty zoomed 0.34%.
Sensex and Nifty were seen trading with losses on Tuesday morning at the start of the pre-open session.
“Bearish for downside targets of 16000 and 15500 on a positional basis. 16400 to act as resistance. Bank Nifty too can test March low of 32155. Only silver lining is some bullish divergence on Dow jones but we doubt it will hold,” said Rahul Sharma, Director & Head – Research, JM Financial.
Based on the SGX Nifty and Global Trend, the Indian market is expected to open lower. Wall Street plunged to its lowest level in more than a year on Monday, as markets were already hit by rising interest rates. Following the decline in global stocks, Indian equity indexes may face some pressure. Asian markets are trading down on expectations of an economic downturn later this year as a result of growing inflation, higher interest rates, and the continued harsh COVID-19 lockdown restrictions in Shanghai. At current levels, the IT sector appears positive as a drop in the rupee might assist firms counter some of the cost and growth challenges. Positive geopolitical developments, as well as stronger-than-expected key macroeconomic data this week, might help turn the tide and entice investors to return to risk assets.
~ Mohit Nigam, Head – PMS, Hem Securities
Petrol prices have been left untouched for more than a month now (34 days) by oil marketing companies (OMC). Prices have been steady since April 6 after OMCs hiked prices by Rs 10 per litre through 14 price hikes across major cities that started on March 22. Petrol in the National Capital of Delhi is currently priced at Rs 105.41 per litre, after the last hike of 80 paise nearly a month ago. Diesel in the city is priced at Rs 96.67. In Mumbai, a litre of petrol and diesel cost Rs 120.51 and Rs 104.77, respectively. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international prices and foreign exchange rates.
Analysts say that the underlying short-term trend of Nifty continues to be negative and still there is no confirmation of any bottom reversal as of now. “As long as the market clearly shows sustainable upside in the next 1-2 sessions, the chances of upside bounce is unlikely. Any upside bounce from here could be short lived and that could be a sell on rise opportunity. The near term downside target for the Nifty remains at 15700 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said. Read full story
Societe Generale, Kuber India Fund, DSP Mutual Fund (MF), HDFC MF, Axis MF, L&T MF, UTI MF, Canara Robeco MF, Motilal Oswal MF, Aditya Birla Sun Life MF, Kotak MF and HSBC MF are among the anchor investors.
Shares of Rainbow Children's Medicare will begin trading on the stock exchanges today. The issue saw a healthy response last month with all categories, except employee reservation, oversubscribed. The IPO was subscribed 12.43 times.
Retail wealth management firm Prudent Corporate Advisory Services on Monday said it has raised a little over Rs 159 crore from anchor investors ahead of its initial share sale. The company has decided to allocate a total of 25,30,651 equity shares to anchor investors at Rs 630 apiece, aggregating the transaction size to Rs 159.43 crore, as per the circular uploaded on BSE.
SGX Nifty was down more than 100 points suggesting a gap-down start for Sensex and Nifty once again.
