Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices extended gains on Tuesday and ended the session in green. The NSE Nifty 50 rose 25.85 points 0.15% to 17,769.25 and BSE Sensex climbed 74.61 points 0.12% to 60,130.71. In sectoral indices, Bank Nifty advanced 42.75 points or 0.10% to 42,678.5 and Nifty PSU Bank surged 52.15 points or 1.31% to 4,036.35. The top gainers on Nifty 50 were Adani Enterprises, Bajaj Finance, Britannia, Bajaj Finserv and Bharti Airtel while the top losers were HDFC Life, UPL, HDFC, HDFC Bank and Tech Mahindra.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Benchmark indices NSE Nifty and BSE Sensex extended gains on Tuesday and ended the session in green. “The domestic market succeeded in holding the gains, though multiple attempts were made by bears to reverse the trend considering the weak global market. Investors are highly nervous as they await the release of US GDP and PCE inflation data, which will guide the upcoming Fed action. The Fed is expected to raise their rates by another 25bps in its announcement on 3rd May,” said Vinod Nair, Head of Research at Geojit Financial Services.
The top gainers on Nifty 50 were Adani Enterprises, Bajaj Finance, Britannia, Bajaj Finserv and Bharti Airtel while the top losers were HDFC Life, UPL, HDFC, HDFC Bank and Tech Mahindra.
In sectoral indices, Bank Nifty advanced 42.75 points or 0.10% to 42,678.5 and Nifty PSU Bank surged 52.15 points or 1.31% to 4,036.35.
The NSE Nifty 50 rose 25.85 points 0.15% to 17,769.25 and BSE Sensex climbed 74.61 points 0.12% to 60,130.71.
Nifty PSU Bank gained 49 points or 1.23% to 4,033.20. The top gainers were Bank of Baroda, Central Bank, Canara Bank, PNB and SBIN while the losers were Punjab and Sind Bank, Bank of Maharashtra and Union Bank.
Gold rate is trading in the positive on Tuesday, while the silver rate is down 0.11%. On Multi Commodity Exchange, gold June futures were trading at Rs 60,111 per 10 grams, up Rs 110 or 0.18%. Silver May futures were trading lower by Rs 85 at Rs 76,215 per kg on MCX. Globally, the yellow metal ticked higher on Tuesday after the dollar retreated as cautious investors awaited further U.S. economic data due this week to gauge the Federal Reserve’s next policy move, according to Reuters. Spot gold rose 0.3% to $1,994.90 per ounce by 0311 GMT, and U.S. gold futures also gained 0.3% to $2,005.00.
Adani Enterprises shares surged 3.59% to Rs 1,866.7 today.
This April series Nifty futures started with a premium of 65-70 points for the current month. For the Nifty futures, FII maintained 83% short positions, in line with last month’s series, which is now currently down to 56% short. The index has been witnessing a short covering bounce in the first fortnight of this series, which has now seen the addition of longs at around 17700 levels. We believe that a dip in the index could be an opportunity to enter into longs and hence the Buy on Dips is the trading sentiment in Nifty.
JSW Holdings, Laxmi Cotspin, NELCO, Eimco Elecon (India), ICICI Prudential Nifty 50 ETF, and Silly Monks Entertainment are among the volume gainers on the NSE index.
Alternatively, 11 stocks including Art Nirman, BEML Land Assets, Crompton Greaves Consumer Electricals, India Glycols, IPCA Laboratories, PVR, Robust Hotels (RHL), and Udayshivakumar Infra at 52 week lows.
On the NSE Nifty, 40 stocks hit their 52-week highs including Bajaj Auto, Power Mech, Technocraft Industries (India), Anupam Rasayan India, Ganesha Ecosphere, Godrej Consumer Products, Jash Engineering, Focus Lighting and Fixtures, Mrs Bectors Food Specialities, Eimco Elecon (India), Glenmark Pharmaceuticals, Ramky Infrastructure, Kirloskar Oil Engines, ITC, Aegis Logistics, VA Tech Wabag, Sanghvi Movers, Titagarh Wagons, Choice International, Likhitha Infrastructure, Tembo Global Industries, Saksoft, Ashiana Housing, Hilton Metal Forging, Lorenzini Apparels, NCC, Rail Vikas Nigam, and Robust Hotels among others.
On the NSE Nifty, 52 stocks hit their upper price band. Adani Green Energy, Adani Total Gas, Adani Transmission, Kamat Hotels (I), Focus Lighting and Fixtures were among the scrips.35 stocks hit their lower price band including Brightcom Group, Kshitij Polyline, Hilton Metal Foraging, Kshitij Polyline Services. Additionally, 9 scrips hit both bands.
On the NSE Nifty index, the top winners are Adani Enterprises, Bajaj Finance, IndusInd Bank, Bajaj Finserv and Adani Ports, with Adani Enterprises up 3.39%. The biggest laggards are UPL, HDFC Life, Kotak Bank, HDFC Bank, HDFC, with UPL down 1.76%.
The broader markets traded largely in the positive territory, with Nifty Smallcap 50 higher by 0.77% and Nifty Midcap 50 higher by 0.34%.
Bank Nifty surpassed 42800 mark today. The top performers are Bank of Baroda, State Bank of India, IndusInd Bank, Federal Bank and PNB while the laggards are HDFC Bank, Kotak Bank and AU Bank.
Nestle India shares rose 0.27% to Rs 20721.55 after the company's fiscal fourth quarter net profit jumped 24% on-year to Rs 736.6 crore, beating analyst estimates, as revenue grew beyond expectations too. A CNBC TV18 poll had predicted Nestle India to report a net profit of Rs 675 crore for January-March quarter. The FMCG firm reported the revenue for the quarter at Rs 4830 crore besting estimates of Rs 4460 crore. Nestle India had reported net profit of Rs 3980.7 crore in the same quarter a year ago.
“The range breakout as well as the achievement of 17740 is consistent with our upside view, which now requires 17700 to be defended for the day to remain positive. The upside objective for Nifty may be extended from 17830 to 17976, but expect sideways bias again should we slip back below 17700 again. An outright collapse is less expected,” said Anand James, Chief Market Strategist at Geojit Financial Services.
“The important question in the near term is whether the current rally can sustain. The answer will depend largely on global cues since the market needs support from global markets, particularly from the mother market the US. If the news from the US is positive, that will embolden the bulls to take this rally forward. If the reverse is true, FIIs can turn sellers dragging the market down again. Bank Nifty continues to be strong. The results of mid-cap IT companies are better than their large-cap counterparts,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
EbixCash, the fintech arm and Indian subsidiary of Ebix, received final observation from Securities and Exchange Board of India (Sebi) for a public issue to raise Rs 6,000 crore via an initial public offering. EbixCash is a provider of digital products and services in the B2C, B2B and fintech spaces. The IPO is entirely a fresh issue of equity shares with face value of Re 1 each. The IPO proceeds will go to the company. EbixCash will utilise the money to the tune of Rs 1,035.03 crore for working capital requirements of its subsidiaries, and Rs 2,747.57 crore for purchase of outstanding convertible debentures from its subsidiaries and funding strategic acquisitions and investments besides general corporate proposes.
HDFC Bank shares fell 0.57% to Rs 1,678.6 after the bank said the Monetary Authority of Singapore (MAS) has given approval for the merger of HDFC Investments and HDFC Holdings with parent HDFC. As part of a composite scheme of amalgamation, Griha Pte, a wholly-owned subsidiary of HDFC Investments and a foreign step-down subsidiary of HDFC Ltd, received approval for the merger with HDFC Bank.
IIFL Securities shares surged 8.45% to Rs 59.7 today. According to the company its total income stood at Rs 405.2 crore for Q4 FY23, up 17% QoQ, while the total comprehensive income stood at Rs 86.4 crore for Q4 FY23, up 35% on-quarter. Assets under management and custody stood at Rs 1,24,573 crore.
Mankind Pharma’s Rs 4,300-crore IPO opened for public subscription today, i.e., Tuesday, April 25, and will close on Thursday, 27 April. The bidding for anchor investors concluded on Monday. Ahead of the public issue, Mankind Pharma shares’ GMP rose to Rs 92 per equity share, 8.5% over the upper end of the share price on offer. The price band for its public issue at Rs 1,026-1,080 per equity share of face value Re 1 each. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 4,326.35 crore from the IPO.
Survival Technologies Ltd has received SEBI’s approval to raise Rs 1,000 crore through an initial public offering (IPO). The company filed preliminary IPO papers with the market regulator on December 28, 2022. The public issue consists of a fresh issue of equity shares worth up to Rs 200 crore and an offer-for-sale (OFS) of up to Rs 800 crore with a face value of Rs 2 per equity share.
Century Textiles shares fell 1.13% to Rs 669. The company's Q4 FY23 consolidated sales increased by 3.2% on-quarter, while FY23 sales surged by 16% on-year. Consolidated EBITDA for Q4 FY23 increased substantially by 191% on-quarter and 99% on-year.
Infosys shares fell 0.51% to Rs 1,220. The company signed a Memorandum of Understanding with Saudi Arabian Aramco, a petrochemical and energy firm, to collaborate on human resource technology.
Persistent System shares fell 0.21% to Rs 4,433 today. The company's revenue grew 35.3% on-year to $1.03 billion in FY23. Sequentially, the revenue is higher by 3.9% at $274.55 million. The Board of Directors recommended a final dividend of Rs 12 per share and special dividend of Rs 10 per share on achieving $1 billion in annual revenue, on equity shares with the face value of Rs 10 each.
IPCA Lab shares tanked 8.17% to Rs 759 after the firm entered into a definitive agreement with Unichem Laboratories for IPCA Labs to acquire 33.38% stake in Unichem for a total consideration of Rs 1,034.06 crore. The price per share for this agreement is Rs 440, which is over 12% higher than Monday’s closing price on the NSE.
Bajaj Auto shares rose 0.78% to Rs 4,366 ahead of the Q4 results announcement.
The top gainers on Nifty 50 were IndusInd Bank, Bajaj Auto, Hero Motocorp, Bajaj Finserv and JSW Steel while the losers were UPL, Tech Mahindra, HDFC Life, Kotak Bank and TCS.
In sectoral indices, Bank Nifty dropped 14.8 points or 0.03% to 42,620.95 and Nifty Pharma tanked 54.9 points or 0.44% to 12,399.45.
The NSE Nifty 50 fell 8.95 points or 0.05% to 17,734.45 and BSE Sensex dipped 13.86 points or 0.02% to 60,042.24.
Domestic indices ended the pre-opening session in green. The NSE Nifty 50 rose 18.15 points or 0.1% to 17,761.55 and BSE Sensex climbed 146.67 points or 0.24% to 60,202.77.
“Weekly support for Bank Nifty is near 42000 and resistance at 42820. And close below support it can test 41570 and weekly close above resistance, there are high possibilities of new highs in the market. Bank Nifty’s all-time high is at the 44151.80 mark. Bank Nifty’s 200-DMA is placed at the 40357 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
“Bank Nifty witnessed a strong breakout on the daily chart with a sharp surge in volumes. The index remains in a strong buy mode and any dip should be an ideal opportunity to add on the log positions. The lower-end support is visible at 42,300 which will act as a cushion for the bulls and the potential upside targets are 43,000/43,300,” said Kunal Shah, Senior Technical & Derivatives Analyst at LKP Securities.
“Bank Nifty has support at 42300-42100 while resistance is placed at 43100-43300 range,” said Deven Mehata, Equity Research Analyst at Choice Broking.
“Bank Nifty is near the critical supply zone of 42700–43000; above this, we can expect a rally towards 43500 and 44000 levels. On the downside, 42000 has become a near-term floor,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
Bank Nifty first support at 42393 and then 42120 while resistance at 42826 and 42985, according to Rahul Sharma, JM Financial.
“Nifty witnessed a breakout of the bullish flag formation, where 17800–17860 is an immediate resistance zone for the Nifty; above this, we can expect a rally towards the 18100–18200 zone. On the downside, the 200-DMA around 17600 will act as a strong support level,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
“In terms of the Elliott Wave Principle, we believe that the Nifty started wave five after consolidation in wave four. The daily momentum indicator has a negative crossover and since prices have resumed their up move, it is likely that the momentum indicator shall provide a positive crossover over the next few trading sessions. Considering the above parameters, we change the short-term outlook to positive and expect the Nifty to target levels of 18100. In terms of levels, 17620 – 17600 shall act as a crucial support zone while 17860 – 17900 is the immediate hurdle zone for the Nifty,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“Nifty took support at 17,613 yesterday, reversed from the day low, and closed at the day high which is strongly positive for today as per the current closing index looks positive for 17,800/17,850 levels, and downside support stands at 17,680-17,620,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
“Nifty would be daunting to surpass the sturdy wall of 17800 – 17900; but if banking and other heavyweights manage to keep up the same momentum, the breakout is imminent. On the flip side, 17600 followed by 17550 should now be seen as a sheet anchor for the bulls. Traders are advised to use intraday declines to add fresh bullish bets and should continue focusing on thematic movers,” said Sameet Chavan, Head Research – Technical and Derivatives, Angel One Ltd.
“The volume profile indicates Index has strong support around the 17550-17600 zone. Coming to the OI Data, on the call side, the highest OI was observed at 17800 followed by 17900 strike prices while on the put side, the highest OI is at 17700 strike price,” said Deven Mehata, Equity Research Analyst at Choice Broking.
Nifty first support at 17677 and then 17586 while resistance at 17814 and 17862, according to Rahul Sharma, JM Financial.
Nifty and Bank Nifty Today: Nifty first support at 17677 and then 17586 while resistance at 17814 and 17862. Bank Nifty first support at 42393 and then 42120 while resistance at 42826 and 42985. Read full story on share market outlook today.
The National Stock Exchange has no securities on its F&O ban list for 25 April. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
Foreign institutional investors (FII) net sold shares worth Rs 412.27 crore, while domestic institutional investors (DII) net purchased equities worth Rs 1,177.18 crore on 24 April, according to the provisional data available on the NSE.
Oil prices slipped in early trade on Tuesday, paring gains from the previous session, as investors weighed strong holiday travel in China that could boost fuel demand with the prospect of rising interest rates elsewhere slowing economic growth. Brent crude fell 7 cents to $82.66 a barrel at 0013 GMT, while U.S. West Texas Intermediate crude eased 6 cents to $78.70 a barrel, according to Reuters.
Market eyes Bajaj Auto, Nestle India, HDFC AMC Q4FY23 financial results today. Other earnings due today include Mahindra CIE, Persistent System, Mahindra Life, Rallis India, Dalmia Bharat, VST Industries, NAM India.
Indian markets are likely to open on a flat to positive note today tracking mixed global cues. Investors are likely to remain watchful as they await key US economic data for further directions in the markets. – ICICI Securities
The US market ended the overnight session mostly in green– Dow Jones Industrial Average (DJIA) rose 0.2%, S&P 500 was up 0.09% while the tech-heavy Nasdaq fell 0.29%.
