Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets extended the winning streak on Thursday. S&P BSE Sensex ended 384 points or 0.68% higher at 57,315 while NSE Nifty 50 jumped 117 points or 0.69% at 17,072. Bank Nifty gained 0.46% to end at 35,191, India VIX dropped 4.52%. Broader markets surged higher. Power Grid jumped 3.4% to end as the top gainer on Sensex, ITC, Bajaj Finance, and Infosys were the other top gainers. Bharti Airtel was top laggard falling 0.93%, followed by Sun Pharma, Maruti Suzuki India, and Ultratech Cement.
Bulls refuse to give up on Dalal Street, extending their gaining streak to third day straight. S&P BSE Sensex ended 384 points or 0.68% higher at 57,315 while NSE Nifty 50 jumped 117 points or 0.69% at 17,072. The baking gauge, Bank Nifty soared 0.46% to settle at 35,191. Power Grid jumped 3.4% to end as the top gainer on Sensex, ITC, Bajaj Finance, and Infosys were the other top gainers. Bharti Airtel was the top laggard falling 0.93%, followed by Sun Pharma, Maruti Suzuki India, and Ultratech Cement. India VIX fell 4.52% to close below 16 levels.
Sensex and Nifty have rallied more than 21% so far in 2021, with valuations now a concern. Heading into 2022, domestic brokerage firm HDFC Securities expects only tepid returns from the benchmark indices. Analysts at the brokerage firm have pinned a target of 62,000 on Sensex and 18500-19000 on the broader Nifty 50 index. However, they have handpicked 10 stocks that they believe have the potential to rally in the coming year. The list includes the State Bank of India, Zee Entertainment Enterprises, and Tech Mahindra among others.
Domestic markets extended their gaining streak to the third day straight on Thursday. Bank Nifty ended 0.46% higher, India VIX dropped 4.5%.
Sensex and Nifty were still in the green on Thursday afternoon, with minutes left before the closing bell. The headline indices are down from their intraday highs but holding firmly in the positive territory.
“Indian markets opened in green following positive Asian market peers as investors reacted to studies about omicron reduced risk of hospitalization and severe disease with omicron compared to delta. During the afternoon session markets continued their firm trade. Additional support came as rating agency ICRA stated that profitability of sugar, fertiliser and dairy sectors will remain stable in FY22, with only three months left to close the financial year 21-22,” said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers
Smallcap indices were outperforming benchmarks ahead of the closing bell. Nifty Smallcap 50 was up 1.67% while Smallcap 100 was up 1.28% while the Nifty 50 was up 0.7%.
MedPlus Health Services share price surged further to a new intraday high of Rs 1,133 apiece on Thursday, after making a stellar debut on stock exchanges. The stocks rose 11.6 per cent from the listing price, and a massive 42.3 per cent from the IPO price. Shares of pharmacy retailer got listed at 27.5 per cent premium to the IPO price. The stock commenced trading at Rs 1,015 apiece, as against the IPO price of Rs 796 per share. The company is into the organised pharmacy retail market in India.
CMS Info Systems has been subscribed 1.39 times so far on the final day of sale. Retail and Qualified Institutional Buyers have oversubscribed their respective portions while NII quota remains undersubscribed.
Paytm Payments Bank and NASDAQ listed MoneyGram International, Inc, today announced a partnership to enable MoneyGram customers globally to send money in real-time to a Paytm Wallet user in India. With this partnership, MoneyGram users abroad can now conveniently transfer money to full KYC Paytm wallet users in India.
India VIX, the volatility gauge, was down 4.28% on Thursday afternoon. The index slipped below 16 levels as benchmark indices rose.
“Medplus Health Services Limited IPO debut at Rs 1015, up by 27.5% as compared to the IPO issue price of Rs 796. Currently, stock trading at Rs 1100 is up by 38.2%, we suggest short term investors to book profit in Medplus Health Services Limited IPO, as now the company is trading at EV/EBITDA of 37 times based on H1FY2022 which is in line with listed peers. Long term investors can wait for lower levels to buy, as medplus is the second-largest pharmacy retailer in India, company offer a good value proposition to its customer in terms of discount, a wide range of product and fast delivery. We believe that the company omnichannel platform will help to deliver strong growth in future. So we recommend short term investors to book profit and long term investors can wait for lower levels to buy,” said Yash Gupta, Equity Research Analyst, Angel One.
“17,100 Done. Next resistance at 17,150-17,200. Look to reduce longs at higher levels unless we have confirmation of fresh longs being added especially from FII’s,” said Rahul Sharma, Director & Head – Research, JM Financial.
On Sensex, Power Grid was the top gainer, up nearly 3%, followed by ITC, Bajaj Finance, and Axis Bank.
Infosys share price rallied 2 per cent to a fresh record high of Rs 1,860 in intraday deals on Thursday. The stock surpassed its previous record high of Rs 1,848.25 apiece hit in October this year. The stock has been trading higher for the third straight day, gaining over 3 per cent. In comparison, BSE Sensex gained nearly 2 per cent during the same period. In the past one month, Infosys stock price has soared 23 per cent, as compared to a 2.2 per cent fall in the S&P BSE Sensex.
“Although most of the oversold stocks are indicating further bounce, it would be a litmus test for bulls around the current levels or may be after entering yet another cluster of hurdles i.e.17000 – 17100 – 17200. As we alluded to in our previous commentary, for us, the downward trend reverses only after surpassing 17200 – 17300. Till then one needs to be very watchful. On the flipside, 16800 and 16700 has now become a strong support at least for the coming session. Traders are advised to keep focusing on induvial themes as they seem to be providing some convincing trades. Yesterday, RELIANCE led from the front with some late dominance from heavyweight private banks. Also it would be unfair if we do not mention the excellent moves in PHARMA stocks,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.
All sectoral indices on NSE were up in the green on Thursday morning. Nifty Realty index was up nearly 2% as the top gainer. Bank Nifty was up 0.5%.
Zee Entertainment Enterprises (ZEE) merger with Sony Pictures Networks India sets the stage for two dominant players to join hands to create a media behemoth, making analysts bullish on the prospects of the listed Zee stock. After the completion of due diligence between Zee and Sony, brokerage firms have upgraded ratings and target prices for Zee stock. “There is a possible upside from the merged entity’s higher competitive position in the market and synergy gains, given that both the companies have a significant potential to improve profitability,” said analysts at Motilal Oswal in a note. Zee stock was trading flat with a weak bias on Thursday at Rs 347.2 per share.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading higher in India on Thursday, even as global prices remained steady. On Multi Commodity Exchange, gold February futures were ruling Rs 112 or 0.23 per cent up at Rs 48,311 per 10 grams, as against the previous close of Rs 48,199. Silver March futures were trading at Rs 62,463 per kg, up Rs 275 or 0.44 per cent on MCX. In the previous session, silver futures ended at Rs 62,188 per kg. Internationally, yellow metal prices held steady, as a weaker dollar offset renewed risk appetite fuelled by an encouraging Omicron study and increased optimism around the global economic outlook, according to Reuters. Spot gold was little changed at $1,806.85 per ounce. US gold futures were up 0.3 per cent at $1,808.20.
“17250 would be an important level to watch out for. We need to close above this zone for the markets to show early signs of a reversal in trend. Post 17250 we can plan long positions on the Nifty. Until then there is always a possibility of a U-turn and the markets would then attempt to go down to retest the recent lows. Extreme caution is advised at the current juncture. It would be prudent to wait and watch. Hasty trading decisions should be avoided,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Nifty 50 index opened gap up and moved in a positive to range-bound manner throughout the session yesterday. The last hour of the day saw a quick pullback and the index inched towards 17000 zones. It surpassed its previous day’s high and closed with gains of around 180 points. It formed a Bullish candle on daily scale and has been forming higher highs – higher lows from the last two trading sessions.
MedPlus Health Services shares made a strong debut on stock exchanges on Thursday, 23 December 2021. MedPlus Health Services stocks began trading at Rs 1,015 per share, up Rs 219 or 27.51 per cent from the IPO price of Rs 796 per share. MedPlus Health had a market capitalisation of Rs 12,109.53 crore on listing. The initial public offering of pharmacy retail chain MedPlus Health Services was subscribed 52.59 times. The Rs 1,398.3-crore IPO received bids for 66.13 crore shares against 1.25 crore shares on offer.
“Short covering in the Nifty futures, Long build up in the Bank Nifty Futures and Put writing at 16800 levels Indicates that one should remain optimistic on the markets. Therefore, our advise is to accumulate longs with the stop loss of 16800 levels. On the higher side 17100 – 17200 levels will act as a strong resistance. In the Bank Nifty, our advice is to go long on dips with trailing SL of 34800 levels. On the higher side 35500 – 36000 level may act as resistance going forward.”
~ HDFC Securities
Out of the 30 stocks that make the Sensex index, 29 were up in the green on Thursday morning. Tata Steel was up 1.3% as the top gainer.
Domestic markets started the F&O expiry session in the positive territory. Both the headline indices rallied 0.50% on opening. Bank Nifty was up 0.75% while India VIX was down 2%.
“Medplus Health Services shares will start trading on the stock exchanges today. Shares of Medplus Health Services were offered to investors in a fixed price band of Rs 780-796 per share. On the technical front, 16500 and 17200 are immediate support and resistance for Nifty 50. For Nifty Bank, 34600 and 35500 might act as immediate support and resistance respectively,” said Mohit Nigam, Head – PMS, Hem Securities.
In the Nifty current series, there has been a Long Unwinding witnessed with a decrease in price of (-3.50%) and decrease in OI by (-7.84%) as of Wednesday wherein there was shedding of 8.22 lakh shares in OI, decreasing from 104.84 lakh to 96.62 lakh shares. Nifty current series rollover stands at 15.39%, while Nifty Put Call Ratio, a sentiment indicator used by traders to gauge the market sentiment and mood, is currently at 1.01 compared to 1.03 of last week, indicating flat-to-positive bias.
Sensex breaches 57,000 mark in pre-open session, Nifty 50 reclaims 17000 amid positive global cues.
On the options front, maximum Put OI for December 30 series is at 16500 strike price with 31 lakh shares followed by 16000 & 16700 strike price. Meanwhile, maximum Call OI for December 30 series is at a 17000 strike price with 25 lakh shares followed by 17500 & 16800 strike price.
For the coming weekly settlement, the Nifty has the highest Put base at 16800 strike while Call base is placed at 17200 strike. Hence, the Nifty should find immediate support near 16800 below which a fresh round of weakness can be expected towards 16500.
~ Raushan Kumar, Derivative Analyst, IIFL Securities
“Above 16950, Nifty is expected to remain bullish for 1700-17150. So far, we have only seen short-covering moves from Monday afternoon. Fresh buying is yet to emerge to flip the bigger trend. Best to be a ‘tomato trader’ until this clarity emerges,” said Rahul Sharma, Director & Head – Research, JM Financial.
After showing upmove with high volatility on Tuesday, Nifty showed a sustainable follow-through upmove on Wednesday and closed the day higher by 184 points. The opening upside gap remains unfilled. A reasonable long bull candle was formed on the daily chart with gap up opening (back to back second opening upside gap which remains unfilled). This pattern indicate a continuation of pullback rally in the market post sharp decline. The Nifty is currently placed at the crucial overhead resistance of 17000-17200 levels and the negative chart pattern of lower highs and lower lows remains intact. Present upmove is in line with the formation of lower top of the pattern. But, there is no confirmation of any lower top reversal yet at the highs.