Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices end their first trading week of CY23 in the red. On Friday, Nifty tumbled 132.70 points or 0.75% at 17,859.45 while Sensex settled at 59,900, down 450 points. The bulls did attempt a recovery in the last hour of trade, with Nifty rising almost 70 points from its intraday lows while Sensex regained about 260 points. As the benchmark indices fell, banking sector index Bank Nifty followed suit, down 419 points or 1% at 42,188. The broader markets closed in the red as well, with Nifty Midcap 100 and Nifty Smallcap 100 closing 0.76% and 0.81% lower respectively. Sectorally, all indices were losers, however Nifty IT ended down 2%, Nifty Private Bank closed 1.12% lower and Nifty Media shed 1.45%. JSW Steel, TCS, IndusInd Bank were the top laggards on the Nifty 50 index.
Domestic indices NSE Nifty and BSE Sensex gained mildly during pre-open. Nifty added 8 points to reclaim the 18,000 level while Sensex ended 35 points higher at 60,388.
“A reasonable negative candle was formed on the daily chart with long lower shadow. Technically this pattern indicates downside continuation pattern amidst volatility. The upside recovery of Thursday signal that buying is expected to emerge from near the lower support of around 17750-17800 levels. Negative chart pattern like lower tops and bottoms continued on the daily chart and the Nifty is expected to revisit the recent swing lows of 17775 levels in the short term. Any upside bounce from here could encounter resistance around 18100 levels,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
The National Stock Exchange has added Indiabulls Housing Finance to its F&O ban list for 6 January. According to the NSE, the stocks under the ban are prohibited in the F&O sector because they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for any F&O contracts in those stocks.
Oil prices rebounded on Thursday amid dollar weakness and as investors emerged to buy dips after two sessions of steep losses, though economic concerns capped recovery. Brent crude futures had climbed 75 cents, or 1.0%, to $78.59 a barrel by 0400 GMT, while US West Texas Intermediate crude futures rose 77 cents, or 1.1%, to $73.61 a barrel.
Foreign institutional investors (FII) sold shares worth Rs 1,449.45 crore, while domestic institutional investors (DII) offloaded shares worth Rs 194.09 crore on 5 January, according to the provisional data available on the NSE.
Overnight in the US, stocks fell and the Dow Jones Industrial Average fell 1.02%, the S&P 500 shed 1.16%, and the Nasdaq Composite slipped 1.47%. All three Wall Street averages are on track to notch five weeks of losses.
Markets in the Asia-Pacific traded mostly higher as the US Fed signaled further rate hikes ahead. Japan’s Nikkei 225 rose 0.4% and the Topix inched up 0.2%. South Korea’s Kospi gained 0.75%, and Hong Kong’s Hang Seng index rose 0.6%. In mainland China, the Shanghai Composite was marginally up, while the Shenzhen Component fell 0.1%.