Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets started the week in the red with Sensex and Nifty closing with losses. S&P BSE Sensex dropped 482 points or 0.81% to settle at 58,964 while the NSE Nifty 50 index fell 109 points or 0.62% to end at 17,674. Bank Nifty closed 0.37% lower while India VIX jumped 3% to close above 18 levels. Broader markets closed mixed with midcap indices on NSE registering gains. ICICI Bank was the top Sensex gainer, up 0.76%, followed by NTPC, and Kotak Mahindra Bank. HCL Technologies was the top laggard, down 2.7%, followed by Larsen & Toubro, and Infosys.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Dalal Street got off to a weak start this week with benchmark indices closing with losses on Monday. S&P BSE Sensex shed 482 points or 0.81% to settle at 58,964 while the NSE Nifty 50 index fell 109 points or 0.62% to end at 17,674. ICICI Bank was the top Sensex gainer, up 0.76%, followed by NTPC, and Kotak Mahindra Bank. HCL Technologies was the top laggard, down 2.7%, followed by Larsen & Toubro, and Infosys. Bank Nifty closed 0.37% lower while India VIX jumped 3% to close above 18 levels. Broader markets closed mixed with midcap indices on NSE registering gains.
Sensex fell 482 points or 0.81% to end at 58,964 points while the NSE Nifty 50 was down 109 points or 0.62% at 17,674. India VIX closed above 18 levels.
ICICI Bank and Ultratech Cement were the top gainers on Sensex, both up more than 1% each.
~ Anand Rathi
Glenmark Pharmaceuticals Limited has received approval from the Drug Controller General of India (DCGI) to conduct a Phase 1 clinical trial of its novel small molecule, GRC 54276 in oncology patients. Phase 1 clinical trial is aimed at determining preliminary anti-tumor activity of its novel molecule in patients with advanced solid tumors and Hodgkin’s lymphoma. The trial which is scheduled to start by June 2022 will also determine the safety and tolerability of the novel molecule. The stock gained following this development.
The Reserve Bank of India needs to raise benchmark interest rates by 1 per cent by the end of this year, In order to counter high inflation, Uday Kotak, the billionaire banker and the chief executive officer of Kotak Mahindra Bank said. Kotak suggested that the central bank could raise rates four times this fiscal, with hikes of a quarter percentage each. “Sharp increase in inflation estimate to 5.7% from 4.5% assuming 100$ oil. Exit q4 fy23 estimate 5.1%. Present Repo rate at 4%. If India has to move to 0% real rate that is inflation – interest rate =0, we need 1% increase of rates. 4 rate hikes of a quarter each?,” Kotak said in a tweet Sunday.
Baba Ramdev-led Ruchi Soya's share price soared 5.3% on Monday to trade at Rs 973.90 per share. The company informed the bourses that it will change its name to Patanjali Foods Limited.
Domestic markets were down with losses on Monday morning, starting the weak on a tepid note. S&P BSE Sensex was down more than 250 points or 0.43% hovering above 59,150 while the NSE Nifty 50 index was down 50 points or 0.3% sitting above 17700. Domestic markets were mirroring global peers that were also down in the red on Monday. Meanwhile, 220 stocks on the BSE were trading at 52-week high values and 13 were at their 52-week lows. Similarly, on the National Stock Exchange (NSE) 90 stocks were at their highs and 8 were down at 52-week low values.
Fintech company Angel One (formerly known as Angel Broking) has expand its client base to 9.21 million, marking a 123.7% YoY growth. It added 0.48 million clients in March 2022 and more than doubled its gross client acquisition in FY’22 to 5.29 million, a 123.7% YoY growth.
Rakesh Jhunjhunwala may have sold his stake in agriculture machinery manufacturer Escorts. Often called the Big Bull of Dalal Street, Rakesh Jhunjhunwala’s name is absent from the latest shareholding pattern of Escorts, which was uploaded on the BSE website a few days ago. However, it is also possible that Rakesh Jhunjhunwala has tendered his shares in the open offer where Japanese agricultural machinery manufacturer -- Kubota is looking to buy shares to increase its stake and become a co-promoter. Escorts' share price was down 1.7% on Monday morning, hitting an intraday low of Rs 1,581 per share.
"Having successfully sucked the momentum out of the downsides on Friday, the 17760-560 region managed to stage a swing higher, which would now be facing the test of momentum at 17850. There are no signs yet of vertical upsides, but chances of a major drop has also considerably mellowed down. Towards this end, we vote for a consolidation that doesn’t dip much beyond 17760, followed by attempts to breach 18000, as the week goes by," said Anand James - Chief Market Strategist at Geojit Financial Services.
Bearish news for crude is tightening monetary policy. There might be a 50 basis point rate hike from the US which will create short term pressure in Crude oil prices. In MCX, crude has support at 7000 and 6600. After 31 Dec 2021, prices have fallen below the 20 and 50 day moving average which is bearish sign short term. However prices above 8000 will change the trend from bearish to bullish as it will then have crossed over 20 and 50 day moving average. Volatility is expected to remain high as prices are chasing headlines. Read full story
An important factor supporting the market is the sustained flow into domestic equity mutual funds which has touched a record high of Rs 28464 cr in March. The net inflow of Rs 164399 cr into domestic equity mutual funds in FY 22 along with strong retail buying has negated the massive FPI selling in FY 22. This new trend of domestic money outsmarting foreign capital is likely to be a major determinant of market trends, going forward. Q4 results, particularly of leading financials, and guidance from IT majors will influence the market in the coming days
~ V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The chart pattern suggests that if Nifty crosses and sustains above 17900 level it would witness buying which would lead the index towards 18100-18400 levels. However if the index breaks below 17600 level it would witness selling which would take the index towards 17400-17200. For the week, we expect Nifty to trade in the range of 18400-17400 with a positive bias. Read full story
The current rally is supported by significant improvement in market breadth along with multi sector participation which makes us confident to believe index will resolve higher and challenge recent high of 18100 and eventually head towards January high of 18350 in coming weeks. Thus, temporary breather from hereon should be capitalised as incremental buying opportunities as we do not expect strong support of 17400 to be breached. Read full story
The index is resuming uptrend after undergoing healthy retracement post 1100 points rally seen in just six sessions which has helped the index to cool off overbought conditions. Key point to highlight is that, the rallies are getting elongated followed by shallow corrections (not >3% in the ongoing rally), highlighting robust price structure. The current rally is supported by significant improvement in market breadth which makes us confident to believe index will resolve higher towards January high of 18350 in coming weeks. Thus, a temporary breather from hereon should be capitalised as an incremental buying opportunity as we do not expect strong support of 17400 to be breached.
~ ICICI Direct
"A rough session is on cards as the U.S Treasury yields have inverted. The short-term bond yields exceed those of longer-term bonds. It means investors are worried about the economy’s long-term prospects. Nifty’s intraday support is seen only at 17689 mark with hurdles at 18115 mark. For the day, Nifty is likely to trade choppy in a range likely to be in the 17727-17927 zone. With RBI’s policy decision in the rear mirror, the street will now brace for start of the earning season which should at least give us some solid trend. The Q4 earning season is quite significant as it comes on backdrop of the scorching inflation conditions. Well, the theme of the day revolves around TCS results and investors will focus on the management commentary --primarily on future outlook, attrition rates, and deal momentum," said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.
Sensex started the day 200 points lower while Nifty 50 was holding above 17700. Bank Nifty was down in red.
Sensex was down 114 points after the pre-open session while Nifty 50 settled at 17740.
Sensex was trading flat with marginal losses on Monday morning while NSE Nifty was down 40 points in the pre-open session.
Last week was a very volatile one and a mix bagged for the benchmark index where prices started the week with a positive tick and closed in red for the rest of the three consecutive days and again closed in green to end the week and closed above 17700 levels. The prices are sustained well above their 21 & 50 – day exponential moving average on the daily as well as the weekly time frame. The index has formed Doji on the weekly time frame which indicates indecision among the traders.
Equity benchmarks rose for the second week in a row, aided by gains in metals, FMCG, energy, PSU banks and cement. Tech and media were the lone sectors that declined in the week. Investors reacted positively to the central bank's continued efforts to support growth and its commitment to managing inflation. Consistent inflows into equity funds also cheered investor sentiments.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were left unchanged by oil marketing companies (OMC) on April 11, for the fifth consecutive day. Prices have increased by roughly Rs 10 per litre across major cities. Petrol in the National Capital of Delhi currently retails at Rs 105.41 per litre, after last hike of 80 paise that came last Wednesday. 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. Pieces were hiked for the first time in 4 months, 15 days ago. 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.
"Expect Nifty to make an all-time high by April end or early May. Q4 earnings could do the trick here. Stay long, stay bullish with stop loss of 17345 spot and target of 18605+. For the day positive above 17800 for 17950," said Rahul Sharma, Director & Head - Research, JM Financial.
SGX Nifty was down 80 points on Monday morning, hinting at a negative start to the day's trade. Global cues were also weak.
Stocks and bonds fell Monday on worries about inflation and tightening monetary policy, while the euro was supported by Emmanuel Macron’s lead in the first round of the French presidential vote.
A peaking summer, coupled with an industrial revival, has led to a huge power shortage in the country. Even as the government claims it is pulling out all the stops to avoid a nation-wide power crisis, worsening of fuel stocks at thermal stations is likely to cripple electricity supplies in the weeks ahead, slowing economic activity.
Hit by the Omicron wave, sharp increase in raw material prices, shortage of components and subdued demand in rural markets, corporate profits for the March 2022 quarter will be a mixed bag.