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
“If weakness persists in the morning session, then further profit booking may push NSE Nifty 50 towards 18200 and then 18100 in the near term. Nevertheless, the overall sentiment remains strongly bullish. The levels of 18400 to 18500 can now be considered an immediate hurdle,” said Rajesh Bhosale, Technical Analyst at Angel One Ltd.
“Profit-taking is likely to continue on the daily chart. Above the 18400 level, the Nifty might face resistance, below that level, it might retest the 18200 level. Hence, the index is expected to continue rising in the future until the index trades above 18400. On the upside, support lies at 18,200, followed by 18,130 and 18,000,” said Rohan Shah, head technical analyst at Stoxbox.
“If Tuesday’s profit booking is any indication, then Nifty’s biggest support to watch is at the 18211 mark and below the same, expect a waterfall of selling towards the 17383 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
“NSE Nifty 50 immediate support level is at the 9-DMA of 18264, and if it falls below, the next demand zone is at 18120–18000. On the upside, if the Nifty breaches the 18476 level, it could face resistance at 18633–18699,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Bearish engulfing candle is seen on the daily charts for Nifty. The index’s bias is negative below 18400 for 18195. First support at 18195 and then 18100 while resistance at 18400 and then 18430, according to Rahul Sharma, JM Financial.
The National Stock Exchange has Delta Corp, Balrampur Chini Mills, Mannappuram Finance, GNFC and Punjab National Bank securities on its F&O ban list for 17 May. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
Foreign institutional investors (FII) bought shares worth net Rs 1,406.86 crore, while domestic institutional investors (DII) sold shares worth net Rs 886.17 crore on May 16, according to the provisional data available on the NSE.
Oil prices fell for a second day on Wednesday after a surprise rise in U.S. crude inventories stoked demand concerns on the heels of weaker-than-expected economic data from the United States and China, the world’s two biggest oil consumers. Brent crude futures were 29 cents lower, or down by 0.4%, to $74.60 a barrel. U.S. West Texas Intermediate crude edged down by 32 cents, also 0.4% down, to $70.55, as of 0005 GMT.
The US market ended the overnight session in red – Dow Jones Industrial Average (DJIA) tanked 1.01%, S&P 500 was down 0.64% and the tech-heavy Nasdaq dropped 0.18%.
Asian markets were trading mixed – Hong Kong’s Hang Seng fell 0.33% and China’s Shanghai Composite index dipped 0.33% while South Korea’s KOSPI was up 0.47% and Japan’s Nikkei 225 climbed 0.73%.
The Nifty futures on the Singapore Exchange (SGX) were trading 40 points or 0.22% lower at 18,289.5 in today’s early morning trade.