Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices NSE Nifty 50 and BSE Sensex trimmed gains and settled almost flat on Tuesday. The Nifty 50 rose 33 points or 0.18% to 18,348 and Sensex rose 18.11 points or 0.03% to end at 61,981.79. In sectoral indices, Bank Nifty rose 69.35 points or 0.16% to 43,954.45 and Nifty IT fell 133.60 points or 0.46% to 28,873.70. The top gainers on Nifty 50 were Adani Enterprises, Divis Lab, Bajaj Finserv, Eicher Motors and UPL while the losers were Apollo Hospital, HCL Tech, Grasim, Tech Mahindra and Kotak Bank.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
“The general picture is positive, and the market will continue to buy on dips until the Nifty’s critical support level of 18050 on the downside is not surpassed. We anticipate that buying in the IT sector will continue and that the Nifty will rise to 18500 in the next few days. Volume profile indicates Index has a strong support around 18050-18150 zone. Coming to the OI Data, on the call side, the highest OI was observed at 18400 followed by 18500 strike prices while on the put side, the highest OI is at 18200 strike price,” said Deven Mehata, Equity Research Analyst at Choice Broking.
“The bulls have regained control, and as we mentioned in our previous commentary, the base level seems to have shifted higher to the range of 18050-18100, while the immediate target is now set on the 18450-18500 levels. Traders should maintain a positive bias and view dips as buying opportunities, with immediate support expected around the 18200 level,” said Rajesh Bhosale, Technical Analyst at Angel One Ltd.
“Nifty might face resistance if holding above the 18300 level, below the 18200 level it might retest the 18000 level. Therefore, the index is expected to continue rising in the future until the index trades above the 18300 level. On the downside, support lies at 18,200, followed by 18000,17870 and 17800,” said Rohan Shah, head technical analyst at Stoxbox.
NSE Nifty 50 first support at 18228 and then 18134 while resistance at 18383 and then 18444, according to Rahul Sharma, JM Financial.
Indiabulls Housing Finance, L&T Finance Holdings and Manappuram Finance are on the NSE’s F&O ban list for May 23. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
Foreign institutional investors (FIIs) bought shares worth a net Rs 922.89 crore, while domestic institutional investors (DIIs) purchased shares worth a net Rs 604.57 crore on May 22, provisional data from the National Stock Exchange showed.
The US market ended the overnight session mixed – Dow Jones Industrial Average (DJIA) fell 0.42%, S&P 500 rose 0.02% and the tech-heavy Nasdaq jumped 0.50%.
Asian markets were trading mixed – Hong Kong’s Hang Seng fell 0.23%, China’s Shanghai Composite index plunged 0.47%, South Korea’s KOSPI climbed 0.64% and Japan’s Nikkei 225 jumped 0.63%.
The Nifty futures on the Singapore Exchange (SGX) were trading 23.5 points or 0.13% higher at 18,359 in today’s early morning trade.