Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Monday’s session broadly in green. The NSE Nifty 50 jumped 119.35 points or 0.68% to 17,743.40 and BSE Sensex surged 401.04 points or 0.67% to 60,056.10. In sectoral indices, Bank Nifty skyrocketed 517.75 points or 1.23% to 42,635.75, Nifty Financial Services soared 239.2 points or 1.28% to 18,992.95 and Nifty PSU Bank zoomed 101.2 points or 2.61% to 3,984.20. The top gainers on Nifty 50 were HDFC Life, Tata Consumer, Wipro, Axis Bank and ICICI Bank while the top losers were Dr Reddy, IndusInd Bank, Cipla, Divis Lab and Maruti.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Foreign institutional investors (FII) sold shares worth a net Rs 2,116.76 crore, while domestic institutional investors (DII) purchased equities worth a net Rs 1,632.66 crore on 21 April, according to the provisional data available on the NSE.
Oil prices slipped on Monday as concerns about rising interest rates, the global economy and the outlook for fuel demand outweighed support from the prospect of tighter supplies on OPEC+ supply cuts. Brent crude slipped 48 cents, or 0.6%, to $81.18 a barrel by 0045 GMT while U.S. West Texas Intermediate crude was at $77.39 a barrel, down 48 cents, also 0.6% lower.
“The Nifty IT index has lost over 5% in the last week. The question in everyone’s mind is whether companies like Infosys and TCS can keep up their growth in profitability in the face of lower demand from customers in the U.S. and Europe. The implosion of Silicon Valley Bank and Credit Suisse could see big banking clients deferring their IT expenditure plans. And a recession in the U.S. may mean companies across the board put off spending on IT services. In our view, the fall in IT stocks will be short-lived. Many of the largest IT companies have been around for decades and have built strong business models that have withstood far greater stresses than the current one,” said Marc Despallieres, Chief Strategy and Trading Officer at Vantage.
“Markets are likely to start on a firm note in Monday trades, much in tandem with the upmove seen in SGX Nifty even as most of the Asian gauges are trading mixed. Both ICICI Bank and Reliance Industries reported corporate earnings that met street expectations and hence there could be some action in the counters today. However, volatility will continue to be the hallmark of this week’s trade given the expiry of April futures & options contracts on Thursday. Technically, Nifty is likely to get support at 17443, while confirmation of strength can be seen only above the 17863 mark. For Bank Nifty, make-or-break support is seen at 41799 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
The US market ended Friday’s session flat– Dow Jones Industrial Average (DJIA) rose 0.07%, S&P 500 was up 0.07% and the tech-heavy Nasdaq rose 0.11%.
Asian markets were trading mixed with China’s Shanghai Composite Index dipping 0.08%, South Korea’s KOSPI dropping 0.54%, Hong Kong’s Hang Seng rising 0.06% and Japan’s Nikkei 225 climbing 0.28%.
The Nifty futures on the Singapore Exchange (SGX) were trading 49 points or 0.28% higher at 17,688.5 in the early morning trade.