Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic stock markets indices BSE Sensex and NSE Nifty 50 zoomed ahead in the first half of the day’s trade but failed to hold on to the gains and closed in the red. S&P BSE Sensex shed 100.42 points or 0.19% to settle at 53,134 while the NSE Nifty 50 index was down 24.5 points or 0.15% to close at 15,810. Bank Nifty too gave up intraday gains to end at 33,815, down 0.37%. India VIX slipped 0.86% to close at 20.97 levels. ITC was the worst performing Sensex stock, down 1.78%, followed by Axis Bank, M&M, Maruti Suzuki India, and IndusInd Bank. On the other end, Power Grid was the top gainer, up 1.54%. Other gainer included Bajaj Finserv, Hindustan Unilever, and Sun Pharma.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Sensex and Nifty closed with losses on Tuesday as bulls failed to hold on to gains. Sensex fell 100 points or 0.19% to close at 53,134 while NSE Nifty settled at 15,800, down 24.5 points or 0.15%.
Power Grid was the top Sensex gainer, up 1.78% on Tuesday afternoon. This was followed by Bajaj Finserv, HUL, and Sun Pharma.
Sensex and Nifty were seen trimming losses just ahead of the closing bell. Sensex was just shy of 53,200 while Nifty 50 regained 15,800.
Rejection seen again from higher levels which means breakout will take some more time. Advise to Book Profits in Nifty longs @ CMP 15,780 - Gain of 100 Points & Close BN Longs @ CMP 33,900.
~ Rahul Sharma, Directo & Head - Research, JM Financial.
The Indian rupee weakened further to touch a fresh record low against the U.S. dollar in afternoon trade on Tuesday as concerns of a wider current account deficit resurfaced the country’s June trade deficit hit a record high. Data released late on Monday showed India’s June trade deficit widened to a record $25.63 billion, pushed by a rise in crude oil and coal imports, from $9.61 billion a year ago. Rupee was trading at around 79.13 against the greenback, after hitting a fresh lifetime low of 79.17. It had touched the previous record low of 79.12 last week and had rebounded a little when it closed at 78.95 on Monday.
Index big-wigs such as ITC, TCS, and Infosys were in the red on Tuesday, pulling the index lower.
Sensex was just above 53,200 while Nifty 50 was holding above 15,800.
Sensex and Nifty turned red on Tuesday afternoon, with half an hour to go before the closing bell.
While the benchmark indices are down from intraday highs, Rahul Sharma of JM Financial said that all will be well if the 50-stock Nifty closes above 15,890. Currently the index is shy of the said levels.
Bank Nifty remains above 34,000 mark. Banking stocks Bandhan Bank was the top gainer, accompanies by Bank of Baroda, ICICI Bank, and HDFC Bank.
ITC was the top drag on Sensex, down 1.47%, followed by Wipro, Asian Paints, Maruti Suzuki India. Titan, Infosys, TCS, and HDFC were also in the red.
With little over an hour before closing bell, Sensex was down from highs but still in the green. Nifty was below 15,900.
Bulls continued to pull domestic headline indices higher on Tuesday. S&P BSE Sensex soared more than 600 points to hit an intra-day high of 53,865 while the NSE Nifty 50 index breached 16,000 mark after a month. The crucial 16,000 mark is seen as a hurdle for the index and a close above that, chartists say, could help the headline index rise higher. While bulls were in control, 71 stocks on BSE soared to fresh 52-week highs while 23 scrips were at new lows. Some of the marquee names at fresh highs include ITC, Chalet Hotels, Siemens, and many more.
Nifty opened gap up and has been inching to higher levels towards 16000 zone. The index has given a consolidation breakout on daily scale and has surpassed its 20 DEMA and is sustaining well at higher levels which indicates strength. Any dip towards 15888 can be utilized as a buying opportunity. India VIX has cooled off a bit and is at 20 levels which is giving respite to the bulls. However it needs to cool down below 18 zones for stability and a directional move in the market. Now till it holds below 15888 zone we can expect move towards 16161 and 16250 whereas supports are placed at 15888-15650 levels. Market breadth is positive which indicates that there support based buying at lower levels. Today, we are witnessing positive move in Banking and Financial service, Metals, Realty, IT, Auto, Media and Pharma whereas there is weakness seen in the FMCG space.
~ Chandan Taparia, Vice President, Equity Derivatives and Technical, Broking & Distribution, Motilal Oswal Financial Services
Key point to highlight is that, the Bank Nifty which carries 35% weightage in Nifty has resolved out of 3 weeks of consolidation (33775-32300) and closed above its 20 days EMA for the first time since early June. We believe, the revived upward momentum in Banking stocks would drive Nifty higher. In the process, strong support for the Nifty is placed around June low of 15200.
~ ICICI Direct
India’s services sector activities touched the highest mark since April 2011 amid current improvements in demand conditions, even as cost pressures in the service economy remained stubbornly high, a monthly survey said on Tuesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 58.9 in May to 59.2 in June — its highest mark since April 2011.
Only three Sensex stocks were in red on Tuesday noon. ITC was the top laggard, down 1.35%, followed by Maruti Suzuki India, and IndusInd Bank.
MTAR Technologies' share price has erased nearly 50% of its value so far this year amid a bearish market sentiment. However, analysts at global brokerage and research firm Macquarie have now initiated coverage on the stock with an ‘Outperform’ rating and have projected massive upside potential. “A leading manufacturer of mission-critical precision components in precision engineering, MTAR is witnessing accelerated growth across end-markets,” Macquarie Research said in a note. The brokerage firm has initiated the coverage of MTAR Technologies with a 12-month target price of Rs 1,920 per share, which translated to an upside of 55% from today’s opening price.
"Nifty has today approached the 16k psychological level for the first time in nearly a month. The price action over the last few sessions has been encouraging, with each dip providing support to the index. Nifty now faces an immediate hurdle at 16000. If it surpasses and sustains above this, the recovery is likely to extend towards 16170, a level that marks the confluence point of 50-day moving average and a bearish gap that formed between 10th and 13th June," said Abhishek Chinchalkar, Head of Education, FYERS.
Nifty touched 16000 on Tuesday morning as bulls remain in control on Dalal Street.
"The rejuvenation of upward momentum after witnessing slower pace of retracement and improving market breadth makes us believe index would resolve higher and gradually head towards 16200 in coming weeks."
~ ICICI Direct
Rising from 58.9 in May to 59.2 in June, the seasonally adjusted S&P Global India Services PMI Business Activity Index was at its highest mark since April 2011 and signalled a steep rate of increase. Moreover, the acceleration in growth was broad-based across the four monitored sub-sectors. According to panellists, the upturn stemmed from ongoing improvements in demand following the retreat of pandemic restrictions, capacity expansion and a favourable economic environment.
~ S&P Global
"Re-Iterate Bullish view on Nifty. Expecting Targets of 16,200/16,400 & 16,800. Given Long Recommendation at 15,682. Ride your winning trades with Trailing Stoplosses," Rahul Sharma, Director & Head - Research, JM Financial.
Housing Development Finance Corporation (HDFC) share price jumped 1.4 per cent to Rs 2,246.35 apiece; and HDFC Bank stock price rose nearly 1 per cent to Rs 1,368 apiece on Tuesday. These gains in stock prices came after HDFC Bank on Monday said the Reserve Bank of India (RBI) has approved its amalgamation with Housing Development Finance Corporation (HDFC). Read full story
HDFC share price rose 0.6 per cent, and HDFC Bank stock price was up 0.5 per cent after these two received RBI approval on merger
All the Nifty sectoral indices were ruling in the green. Nifty Bank index jumped 0.6 per cent, Nifty Metal was up 1.2 per cent, and Nifty IT rose 0.3 per cent
Only one stock on S&P BSE Sensex was in red. Asian Paints share price was down nearly half a per cent
Reliance Industries Ltd (RIL), Tech Mahindra, ICICI Bank, State Bank of India (SBI), Power Grid Corporation of India, HDFC, HDFC Bank were among top BSE Sensex gainers.
BSE Sensex jumped 289 points or 0.54 per cent to 53,523, while NSE Nifty 50 topped 15900 on Tuesday
Indian Rupee opens at 79.04 per US Dollar on Tuesday versus Monday’s close of 78.95 per US Dollar