Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices extended previous session’s losses and ended in red today. The NSE Nifty 50 tumbled 104.75 points or 0.57% to 18,181.75 and BSE Sensex tanked 371.83 points or 0.60% to 61,560.64. In sectoral indices, Bank Nifty fell 205 points or 0.47% to 43,698.70, Nifty IT tanked 273.05 points or 0.97% to 27,942.95 and Nifty Realty plunged 6.30 points or 1.33% to 465.80. The top gainers on the Nifty 50 were Hero Motocorp, ITC, IndusInd Bank, UPL and Bharti Airtel while the losers were Kotak Bank, Apollo Hospital, SBI Life, TCS and HCL Tech.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Benchmark indices NSE Nifty 50 and BSE Sensex remained under pressure today and finally ended in the red. “In response to weak global sentiments, domestic investors remained cautious as the US market grappled with recession concerns led by recent economic data indicating slowdown. The US retail sales figures for April reflected a decrease in demand, and ongoing debt ceiling negotiations further dampened market sentiment,” said Vinod Nair, Head of Research at Geojit Financial Services.
The top gainers on the Nifty 50 were Hero Motocorp, ITC, IndusInd Bank, UPL and Bharti AIrtel while the losers were Kotak Bank, Apollo Hospital, SBI Life, TCS and HCL Tech.
In sectoral indices, Bank Nifty fell 205 points or 0.47% to 43,698.70, Nifty IT tanked 273.05 points or 0.97% to 27,942.95 and Nifty Realty plunged 6.30 points or 1.33% to 465.80.
The NSE Nifty 50 tumbled 104.75 points or 0.57% to 18,181.75 and BSE Sensex tanked 371.83 points or 0.60% to 61,560.64.
V-Mart Retail, PVR INOX, Butterfly Gandhimathi Appliances, IPCA Laboratories, Race Eco Chain, Aditya Birla Fashion and Retail, SEL Manufacturing Company, and Power & Instrumentation (Gujarat) were among 15 stocks that hit 52-week lows.
Cera Sanitaryware Polycab India, Hindustan Aeronautics, Mtar Technologies, Inox Wind Energy Cyient, Ami Organics, Kaynes Technology India, Bharat Dynamics, Cholamandalam Financial Holdings, Ujjivan Financial Services, Max Ventures and Industries, Heritage Foods, Suryoday Small Finance Bank, L&T Finance Holdings, Indian Oil Corporation, Servotech Power Systems, Andhra Cements, Housing & Urban Development Corporation were among the 62 stocks that hit 52-week highs.
Andhra Cements, AKI India, Aurionpro Solutions, Avro India, JITF Infralogistics, Servotech Power Systems, Binani Industries, Focus Lighting and Fixtures and Nakoda Group of Industries were among 46 stocks that hit the upper price band. On the other hand, Adani Total Gas, Ace Integrated Solutions, Goyal Aluminiums, Hindprakash Industries, Jupiter Wagons, Pansari Developers and TECIL Chemicals and Hydro Power were among 35 stocks that hit the lower price band.
LIC Housing Finance, Abans Holdings, NDL Ventures, Amber Enterprises India, Kaynes Technology India, Tanla Platforms, Excel Industries, Globus Spirits, MIRC Electronics, HCL Infosystems, Shakti Pumps (India), Zen Technologies, Orient Bell, Lincoln Pharmaceuticals, Karur Vysya Bank, Precision Wires India, Exide Industries, Talbros Automotive Components, Megastar Foods, Pritika Auto Industries and The Anup Engineering were the volume gainers.
HeroMotocorp, BPCL, IndusInd Bank, Coal India, UPL, ITC and Bharti Airtel were the top gainers while Kotak Bank, HCL Tech, Asia Paints, TCS, Apollo Hospital, Infosys, SBI Life and Tata Steel were the top laggards.
In sectoral indices, Bank Nifty fell 417.10 points or 0.95% to 43,486.60, Nifty Financial Service was down 221.75 points or 1.14% to 19,217.25, Nifty IT tanked 376.45 points or 1.33% to 27,839.55, Nifty PSU Bank slipped 47.10 points or 1.16% to 4,002.60 and Nifty Realty dropped 8.05 points or 1.71% to 464.05.
In broader markets, the Nifty 100 tumbled 0.87%, Nifty Midcap 50 was down 0.71% and Nifty Total Market dropped 0.72%.
Geojit Financial Services has announced the launch of its latest mobile trading platform, FLIP. The platform will replace the existing platform SELFIE. FLIP includes advanced order capabilities such as One Cancel Other Order, Bracket Orders, Basket Orders, Option Chain, Option Greeks, Single Click Multi-Leg Orders, and Exit All Positions in Just 1 Click. It also features Portfolio Insights, Technical and Fundamental Research, Stock Analysis Page, Advanced Charting (TradingView), and a Dashboard that provides a summary of trades and investments. FLIP users will benefit from additional features set to be introduced over the next three months, including Split Order for Options, Roll Over for Futures, and Conditional Orders, Trading from Charts, Events Calendar, Market Overview, and Apply for IPO.
Shoonya by Finvasia is now India’s first trading platform to offer AI-based predictions & signals for individual stocks. The company has partnered with I Know First (IKF), a financial technology firm which provides AI-powered stock market predictions, the company said in a press release.
Gold and Silver were trading flat on Wednesday. Gold futures on the multi-commodity exchange for June delivery were trading at Rs 60297, up 54 points and Silver futures for July delivery fell 60 points to Rs 72,525. Globally, gold prices steadied on Wednesday, as investors fretted over prolonged US debt-limit negotiations, with a firmer dollar keeping prices in check. Spot gold rose 0.1% to $1,991.35 per ounce. US gold futures were little changed at $1,995.20. Spot silver rose 0.1% to $23.76 per ounce after hitting a six-week low in the previous session. Platinum gained 0.6% to $1,063.71, and palladium edged 0.3% higher to $1,505.93.
Bank Nifty tumbled 219.10 points or 0.50% to 43,684.60. The top losers were Kotak Bank, IDFC First Bank, AU Bank, Bandhan Bank and Bank of Baroda while the sole gainer was IndusInd Bank.
Benchmark indices remained under pressure in the intraday trade. The NSE Nifty 50 hit an intraday low of 18,161.1, falling 123.85 points or 0.68%. The BSE Sensex tanked 442.13 points or 0.71% to 61,490.34.
Nifty IT tanked 344.1 points or 1.22% to 27,871.9. The top losers on the index were HCL Tech, MPhasis, Coforge, TCS and Infosys while there were no gainers.
A reversal formation and bearish candle on daily charts suggest profit booking is likely to continue in the near future. we are of the view that 18400/62300 could be the key resistance level for the bulls. As long as the Nifty and Sensex are trading below the same. The weak sentiment is likely to continue. Below 18400/62300 the indices could retest the level of 18200/61700. The further downside may also continue which could drag the indices to 18150/61500. On the flip side, above 18400/62300 the chances of hitting 18450-18475/62500-62600 would turn bright.
LIC Housing Finance share price tanked 6.15% to Rs 370.8 today. The company’s board suggested a dividend of Rs 8.50 per equity share of Rs 2 each for FY23. LIC Housing Finance reported a jump of 5.5% in its consolidated net profit, which came in at Rs 1,180.3 crore, as against Rs 1,118.6 crore in the corresponding period of the previous year. Its net interest income (NII) grew 22.1% and was Rs 1,990.3 crore for the March quarter, as against Rs 1,630 crore in the year-ago period.
Bank Nifty fell 104.25 points or 0.24% to 43,799.45. The top losers were IDFC First Bank, Kotak Bank, AU Bank, Bandhan Bank and ICICI Bank while the gainers were IndusInd Bank, PNB, SBIN, Bank of Baroda and Axis Bank.
Bharti Airtel share price jumped 1% to Rs 797.4 today after the telecom giant’s board recommended a final dividend of Rs 4 per fully paid-up equity share and Re 1 per partly paid-up equity share of face value of Rs 5 each for FY22-23. Bharti Airtel stock has fallen 6% in the last six months and jumped over 12% in the last one year. Meanwhile, NSE Nifty 50 fell 32.15 points or 0.18% to 18,254.35 and BSE Sensex dipped 88.01 points or 0.14% to 61,844.46 on Wednesday.
Bank Nifty has risen about 5,000 points in the last two months, nearly hitting its all-time high; but analysts are divided on whether the momentum will continue, with the market now looking at SBI quarterly results for an upside trigger. The banking index has gained about 13% since mid-March, outperforming NSE Nifty 50, which has gained 8.4%.
“As a batsman approaches a century, he might get stuck for a while in the ‘nervous nineties’. It appears that the market is in a similar state while approaching a new all-time high. Even though the conditions are favourable for a new record there are near-term issues like the US debt ceiling impasse which can weigh over global markets in the near term. Relentless FPI buying, declining inflation, market momentum and good results from the rally-leader financials can sustain this rally even with occasional corrections. The near-term uncertainty makes the market direction a bit confusing but for long-term investors, this is a good ‘buy on dips’ market,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“Bank Nifty, if sustains below 44,000, can witness further correction towards 43,500 where the highest open interest is built up on the put side. The momentum indicator RSI is showing negative divergence which confirms the bearishness,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
“Bank Nifty has paused near its all-time high and shows some divergence in momentum indicators, suggesting a likelihood of profit booking. The immediate support level is at 43500, while a major support base can be found at 43000. Above the 44152 level, the next target levels to watch for are 44444 and 45000,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Bank Nifty formed a dark cloud cover on daily charts. The index’s bias is negative below 44000 for 43750/43600. First support at 43777 and then 43674 while resistance at 44049 and then 44218, according to Rahul Sharma, JM Financial.
“Over the short term, it is expected that the Nifty will continue to exhibit weakness and could potentially drift towards the support level of 18200. A decisive drop below this support level may trigger additional selling pressure in the market. On the upside, resistance is observed at 18300 and 18500,” said Rupak De, Senior Technical analyst at LKP Securities.
The top gainers on Nifty 50 were BPCL, Bharti Airtel, Bajaj Auto, Coal India and Hero MotoCorp while the losers were JSW Steel, Tech Mahindra, Hindalco, Eicher Motors and Infosys.
In sectoral indices, Bank Nifty rose 37.95 points or 0.09% to 43,941.65 and Nifty IT fell 143.55 points or 0.51% to 28,072.45
The NSE Nifty 50 was trading at 18,273.45 and BSE Sensex at 61,878.73