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
Benchmark indices NSE Nifty 50 and BSE Sensex trimmed gains and settled almost flat on Tuesday. “Domestic benchmark indices closed flat after a positive session, driven by buying in the metal, pharma, and auto sectors. However, market sentiment was challenged by a sell-off in IT stocks, influenced by weak signals from the US market. The direction of the US market is anticipated to impact global equities, with investors closely monitoring upcoming events such as the release of FOMC minutes, US PMI, and progress in debt-ceiling talks,” said Vinod Nair, Head of Research at Geojit Financial Services.
Nifty 50 rose 33.60 points or 0.18% to 18,348 and BSE Sensex was up 18.11 points or 0.03% to 61,981.79.
The NSE Nifty 50 rose 0.07% to 18,326.75 and BSE Sensex fell 0.05% to 61,931.06. The top gainers on Nifty 50 were Adani Enterprises, Divis Lab, Eicher Motors, UPL and Bajaj Finserv while the losers were Tech Mahindra, Titan, Apollo Hospital, Koatk Bank and Grasim.
Bank Nifty gains 46.05 points or 0.10% to 43,931.15. The top gainers were Bandhan Bank, Bank of Baroda, IndusInd Bank, State Bank of India (SBIN) and AU Bank while the losers were Kotak Bank, IDFC First Bank, Federal Bank, HDFC Bank and Axis Bank.
Veteran investor Rajiv Jain’s GQG Partners LLC has raised its stake in billionaire Gautam Adani’s conglomerate by about 10% and will take part in the conglomerate’s future fund raising, doubling down on what he calls “the best infrastructure assets available in India.” “Within five years, we would like to be one of the largest investors in Adani Group depending on the valuation, after the family,” Jain, GQG’s chief investment officer, said in an interview.
Aavas Financiers, Aditya Birla Fashion and Retail, Jet Airways (India), Latteys Industries, Lyka Labs, Power & Instrumentation (Gujarat), SEL Manufacturing Company and Tatva Chintan Pharma Chem. were among 13 NSE stocks to hit 52-week lows.
Exide Industries, AU Small Finance Bank, Godrej Consumer Products, Indian Oil Corporation, ABB India, Andhra Cements, Advani Hotels & Resorts (India), Ami Organics, Arrow Greentech, Aurionpro Solutions, Avalon Technologies, Axiscades Technologies, Bhansali Engineering Polymers, Birla Cable, Carborundum Universal, Cera Sanitaryware, CG Power and Industrial Solutions, Choice International, Cholamandalam Investment and Finance Company, Cholamandalam Financial Holdings, Cords Cable Industries, eMudhra, Foseco India, Fusion Micro Finance, Godrej Consumer Products, Hilton Metal Forging, Indo Tech Transformers, IZMO, Jai Balaji Industries, Kokuyo Camlin, Latteys Industries, Linc, Marshall Machines, Max Healthcare Institute, Global Health, Minda Corporation, Newgen Software Technologies, PG Electroplast, Poonawalla Fincorp, Hitachi Energy India, Pressman Advertising, The Ramco Cements, Roto Pumps, Servotech Power Systems, Shanthi Gears, Share India Securities, Shree Digvijay Cement Co, Stylam Industries, Suprajit Engineering, Syrma SGS Technology, TD Power Systems, TPL Plastech, Usha Martin, VRL Logistics and Windlas Biotech were among 58 NSE stocks to hit 52-week highs.
Indo Tech Transformers, Adani Green Energy, Adani Transmission, Adani Total Gas, Adani Power, New Delhi Television (NDTV) and Asian Hotels (North) were among the 57 stocks that hit the upper price band. On the flip side, Shree Ram Proteins, Goyal Aluminiums, Tantia Constructions, Future Consumer, Impex Ferro Tech, Zee Learn, Hybrid Financial Services, Dharani Sugars&Chemicals and Unitech were among the 43 NSE stocks to hit the lower price band.
NACL Industries, Delta Manufacturing, Times Guaranty, ADF Foods, Fiberweb (India), Hisar Metal Industries, Vimta Labs, Repco Home Finance, Premier Polyfilm, Balmer Lawrie & Company, Chemcon Speciality Chemicals, Federal-Mogul Goetze (India), Zuari Agro Chemicals, ITI, Compucom Software, Motherson Sumi Wiring India, Borosil, NCC, SPL Industries, Transformers And Rectifiers (India), Varroc Engineering, Monte Carlo Fashions, Go Fashion (India) and Consolidated Finvest & Holdings were the volume gainers on NSE.
Adani Enterprises, Adani Ports, HDFC Bank, ICICI Bank, Infosys, Tata Motors, Kotak Bank, Bajaj Finance, TCS, PolicyBazaar and Divis Lab were the most active stocks.
In sectoral indices, Bank Nifty jumped 133.25 points or 0.30% to 44,018.35, Nifty IT rose 145.70 points or 0.50% to 29,153, Nifty Metal soared 2.88% and Nifty Pharma surged 0.72%.
In the broader market indices, Nifty Next 50 rose 0.49%, Nifty Midcap 100 was up 0.63%, Nifty Smallcap 100 was up 0.49% and Nifty Total Market was up 0.50%.
Bank Nifty jumped 133.25 points or 0.30% to 44,018.35. The top gainers were Bandhan Bank, Bank of Baroda, IndusInd Bank, ICICI Bank and SBIN while the sole loser was Kotak Bank.
Adani Group’s port unit became the first of its 10 entities to recoup all losses triggered by Hindenburg Research’s bombshell report in late January, as a recent rally in the conglomerate’s stocks gathered steam on Tuesday. All 10 Adani stocks climbed in early Mumbai trading, with shares of Adani Ports and Special Economic Zone Ltd. surging as much as 7.7%. Flagship Adani Enterprises Ltd. soared almost 19% following a similar jump on Monday. The trigger for the rally since last Friday has been an Indian court panel’s report that found no conclusive evidence of stock-price manipulation as alleged by US short-seller Hindenburg.
PolicyBazaar and PaisaBazaar parent company PB Fintech share price jumped 5.7% to Rs 654.35 today after the company’s net loss narrowed to Rs 8.9 crore in Q4FY23 as compared to Rs 220 crore in the same quarter last year. The stock has risen 4.4% in the past one month while it has fallen 11% in the last one year.
Shree Cements share price jumped 3.88% to Rs 25,426 today after the company’s board declared an interim dividend of Rs 55 per equity share of Rs 10 each for the financial year ended March 2023. Shree Cements’ fiscal fourth quarter revenue jumped 16.9% to Rs 5,100.19 crore in Q4FY23 as against Rs 4,364.24 crore in the corresponding quarter previous year. Net profit for the quarter fell 20% to Rs 525.77 crore from Rs 657.24 crore in the same quarter last year.
HEG share price tanked 4.29% to Rs 1208 after the company reported a 23% on-year decline in consolidated profit at Rs 99.72 crore for the March FY23 quarter, impacted by lower topline and operating numbers. Revenue from operations for the quarter came in at Rs 616.88 crore, falling by 8.3% compared to the corresponding period last fiscal. The company announced a final dividend of Rs 42.50 per share. HEG board has approved further investment of up to Rs 90 crore in one or more tranches, in its subsidiary TACC.
PB Fintech shares rose 0.86% to Rs 624.4 after the operator of Policybazaar and Paisabazaar narrowed its loss to Rs 8.9 crore for the quarter ended March FY23, from Rs 219.6 crore in the same period last year. The operating revenue grew by 61% to Rs 869 crore compared to the corresponding period last fiscal.
Shree Cements shares jumped 2.76% to Rs 25150 after the company reported a 15.3% on-year decline in standalone profit at Rs 546.2 crore for the March FY23 quarter, impacted by a sharp increase in power and fuel cost. The standalone revenue for the quarter grew by 16.7% to Rs 4,785 crore compared to the same period the previous year.
Adani Power shares jumped 5% to Rs 260.4 after the company said that it will contest an order issued by the Registrar of Companies (RoC), Ahmedabad, imposing a penalty on three senior executives for alleged breaches connected to related party transactions over three years till FY20. The RoC had in an order issued on 16 May imposed a penalty on three senior executives of Adani Power, including chairman Gautam Adani.
Coal India shares rose 0.23% to Rs 238.9 after the company signed an agreement with its non-executive workers over the revision of wages. Coal India said that a 19% minimum guaranteed benefit on emoluments including basic salary, variable dearness allowance, special duty allowance and attendance bonus, and a 25% increase in allowances have been agreed upon.
Bank Nifty was trading flat at 43,898.60. The top gainers on the index were Bandhan Bank, AU Bank, Bank of Baroda, IndusInd Bank and SBIN while the losers were Kotak Bank, Federal Bank, PNB, IDFC First Bank and ICICI Bank.
The top gainers on Nifty 50 were Adani Enterprises, Adani Ports, BPCL, Britannia and HDFC Life while the losers were Apollo Hospital, Kotak Bank, Cipla, Divis Lab and Eicher Motors.
Bank Nifty rose 67.45 points or 0.15% to 43,952.55 and Nifty IT was up 70.35 points or 0.24% to 29,077.65.
NSE Nifty 50 jumped 62.50 points or 0.34% to 18,376.90 and BSE Sensex surged 158.64 points or 0.26% to 62,122.32.
NSE Nifty 50 rose 48.50 points or 0.26% to 18,362.90 and BSE Sensex jumped 134.48 points or 0.22% to 62,098.16 in pre-open.
“Yesterday, stocks gained, with the IT sector leading the way. For the day, the Bank Nifty and the financial sector underperformed. Bank Nifty has support at 43500-43650 while resistance is placed at 44150 which is also close to an all-time high level,” said Deven Mehata, Equity Research Analyst at Choice Broking.
Bank Nifty first support at 43716 and then 43549 while resistance at 44034 and then 44187, according to Rahul Sharma, JM Financial.
“On the upside, the zone of 18350–18375 where crucial Fibonacci retracement levels are placed can act as immediate hurdles from a short-term perspective. On the downside, the key hourly moving averages placed in the range 18210–18250 shall act as a cushion and provide support in case of a slide. Overall, we still believe that the Nifty is in a consolidation mode and the range of consolidation is likely to be 18000–18400,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“Caution is advised around the important retracement resistance zone, and traders should monitor the levels mentioned for potential market movements. Nifty has strong support at the 18200 range while resistance on the higher side at 18375 to 18400 range,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
“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.