Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic headline witnessed a volatile trading session moving between gains and losses before closing in the green. S&P BSE Sensex gained 85.88 points or 0.14% to settle at 61,308 while NSE Nifty 50 gained 52.35 points or 0.29% to finish at 16,308. Bank Nifty ended in the red falling 0.40% to sit at 38,216. Broader markets moved up and India VIX jumped 1.27%. Ultratech Cement was the top Sensex gainer, jumping 2.75% after the firm announced its quarterly results. Other gainers included Mahindra & Mahindra, Maruti Suzuki, and Tata Steel. HCL Tech was the worst performer, down 5.76%, followed by HDFC Bank, Axis Bank, and Tech Mahindra.
Sensex added 85.88 points on Monday to close at 61,308 while NSE Nifty 50 ended at 18,308. Bank Nifty ended 0.40% lower.
Sensex and Nifty were trading with gains with minutes left before the closing bell. Sensex was above 61,300 while Nifty 50 was just above 18,300.
AGS Transact Technologies’ IPO will open for subscription on Wednesday, ending the nearly one-month draught in primary markets. The Rs 680 crore IPO is entirely an offer for sale (OFS) by existing shareholders of the company, including the Promoter of the company Ravi B Goyal. Ahead of the IPO, shares of AGS Transact Technologies were trading at a premium of Rs 21 per share above the issue price of Rs 166-175 per share. In 2022 Dalal Street is expected to see a large number of IPOs and possibly the biggest public issue to ever hit markets– Life Insurance Corporation of India (LIC).
Ultratech Cement reported a net profit of 1,707 crore in the October-December quarter, an increase of 7.7% on-year basis. Total income stood at Rs 13,055 crore.
Minor long unwinding in the Nifty and Minor short build-up in the Bank Nifty futures and long unwinding by the FIIS in the Index Futures segment Indicates that one should be cautious for the markets. Therefore, our advice is to hold longs with the strict stop loss of 18100 levels. On the higher side, 18300 – 18400 levels will act as a strong resistance. In the Bank Nifty, our advice is to hold long with strict SL of 37800 levels. On the higher side, 38500- 38800 level may act as resistance going forward.
~ HDFC Securities
Bulls were back in the seat as headline indices marked consecutive weekly gains with Nifty ending at 18255. Last week all focus was on the IT sector, as we saw the majority of IT companies reported their Quarterly performance. Numbers from Infosys, TCS, and HCL Tech were blockbusters just reinstating the sector rerating and confidence to investors. Indian market did not react negatively compare to the global markets due to strong macro data. Both WPI and CPI number during the month of December reported better than expected. Globally we have seen some profit booking US Inflation spiked to 7% of 40-years high and expectation that the US Fed may hike interest rate sooner than expected.
HCL Technologies share price nosedived 6.9% on Monday morning to hit a low of Rs 1,244 per share, days after the company announced its quarterly results. Investors sold shares of HCL Technologies as the IT major reported a 13.6 per cent fall in net profit to Rs 3,442 crore for the October-December quarter. Revenues were 15.7% higher from the year-ago period. HCL Technologies stock was down in the red but analysts have not given up on the IT firm and remain bullish. Some brokerage firms have even upgraded their target price for HCL Technologies, making today’s fall in stock price a more attractive buying opportunity.
“The Index has opened on a tepid note this morning, unsure of the direction it should take. The trajectory continues to remain positive for a potential target of 18500-18600. The weekly support is upgraded to 18100 and as long as that holds, traders can accumulate long positions on the Nifty for higher targets,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
“We expect the index to hold Friday’s low (18146) and stage a pullback post initial blip. Hence use intraday dip towards 18188-18213 for creating long position for target of 18302,” said ICICIC Direct
“This trading week is starting on a mixed note with good Q3 results strengthening the optimism and the spike in US 10-year bond yield to 1.79% and Brent crude surging past $86 raising concerns about the sustainability of the rally. HCL Tech's good Q3 numbers reinforce the market optimism in the IT sector. HDFC Bank's good numbers reflect the rising credit growth in the economy justifying the optimism around the economy- facing segments and stocks. FIIs again turning sellers ( Rs 1598 cr on Friday) can be a short-term headwind for the market. In the short-term the market is likely to react to results. If results turn out to be very good, that will be confirmation of the profit upcycle that bulls are optimistic about,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Sensex started the day flat, moving between gains and losses. Nifty was nearing 18300. Bank Nifty was above 38500.
As long as the index stays above 18000, the short-term outlook will remain bullish .A break above 18350 can then pave way for further rise to 18500-18600.A narrow range of 18000-18350 is possible if Inability to breach 18350.
For the coming session, the trading spot band is between 18090 and 18320, which means further upsides are likely once the immediate resistances of 18320 are taken out and weakness could emerge if the supports of 18090 are broken.
~ Raushan Kumar, Derivative Analyst IIFL Securities
Nifty started the week with an upward gap and buying momentum for the most part of the week led it to close on a strong note. Nifty closed at 18256 with a gain of 443 points on a weekly basis. On the weekly chart, the index has formed a long bullish candle forming higher High-low compared to the previous week and has closed above the previous week's high indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 18300 levels it would witness buying which would lead the index towards 18400-18600 levels. However, if the index breaks below 18100 level it would witness selling which would take the index towards 18000-17800. For the week, we expect Nifty to trade in the range of 18500-17800 with a positive bias. The daily and weekly strength indicator RSI is in bullish mode and sustaining above 50 mark which supports bullish sentiments ahead
Sensex and Nifty moved in the opposite directions during the pre-open session. While Sensex was up in green, Nify 50 was down with marginal losses.
On expected lines, index resolved higher and surpassed past two months high of 18200. As a result, weekly price action formed a bull candle carrying higher high-low, signifying acceleration of upward momentum. In the process, small cap index scaled to fresh all time high after October 2021.
On the daily chart, prices have given a falling wedge pattern breakout on January 3, 2022, and have given a return of 3.60 per cent to date without a meaningful correction. Meanwhile on the broader time frame (weekly) prices have given a bullish flag pattern breakout and prices are inching near their previous lifetime high levels which are placed at 18600 levels. The structure of the index was in favor of bulls and market breadth for the entire week has remained at 2:1. The prices on the daily chart are trading in a higher top higher bottom formation.
Indian equity markets are likely to open on a tepid note on Monday (17 January). Trends on SGX Nifty indicated a flat to negative start for the benchmarks, with a loss of 66 points or 0.36 percent. The Nifty futures were trading around 18,201 level on the Singaporean Exchange. Markets on Friday snapped 4-day winning streak to on a flat note. After a gap-down opening in the morning, both the benchmark indices recovered losses in the afternoon session but still ended in red. “Markets have recovered sharply by more than 10% from its recent lows of 16,400 levels in just 20 days. Valuations are no longer cheap and require strong earnings delivery for sustenance of positive momentum in the market,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
“The earnings season would gain pace this week and participants will be closely eyeing the results of some of the top names like Reliance, ICICI Bank, Ultratech Cement, Bajaj Auto, JSW Steel, Bajaj Finance, Asian Paints, Hindustan Unilever among others. Before that, markets will first react to the earnings of two heavyweights- HCL Technologies and HDFC Bank in early trade on Monday,” said Ajit Mishra, VP Research. Religare Broking.
Foreign portfolio investors (FPIs) reversed the three-month selling streak in January by investing net Rs 3,117 crore in Indian markets, so far this month. Depositories data showed that they pumped Rs 1,857 crore into equities and Rs 1,743 crore into hybrid instruments during January 1-14. At the same time, they pulled out Rs 482 crore from the debt segment, taking the total net inflow to Rs 3,117 crore. Prior to this, overseas investors were net sellers in the Indian markets for three consecutive months since October 2021.