Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Monday’s session broadly in green despite muted global cues. The NSE Nifty 50 rose 111 points or 0.61% to 18,314.40 and BSE Sensex zoomed 234 points or 0.38% to 61,963.68. In sectoral indices, Bank Nifty fell 84.30 points or 0.19% to 43,885.10 and Nifty IT surged 703.65 points or 2.49% to 29,007.30. The top gainers on Nifty 50 were Adani Enterprises, Adani Ports, Divis Lab, Apollo Hospital and Tech Mahindra while the losers were Hero Motocorp, Axis Bank, Nestle India, Eicher Motors and Bharti Airtel.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Despite muted global cues, benchmark indices ended Monday’s session broadly in the green. “The domestic market inched higher in anticipation of possible progress in US debt ceiling negotiations. Despite a weak fourth-quarter performance, IT stocks rebounded on account of bargain opportunities and pent-up demand. Investors remain watchful ahead of the release of US FOMC minutes on Wednesday, as the minutes may give some indication of a pause on rate hikes,” said Vinod Nair, Head of Research at Geojit Financial Services.
Adani Enterprises, Adani Ports, Divis Lab, Apollo Hospital and Tech Mahindra were the top gainers on Nifty 50 while Hero Motocorp, Axis Bank, Nestle India, Eicher Motors and Bharti Airtel were the top laggards.
The NSE Nifty 50 surged 111 points or 0.61% to 18,314.40 and BSE Sensex soared 234 points or 0.38% to 61,963.68.
actyv.ai has partnered with Unity Small Finance Bank (Unity Bank) to offer innovative B2B Buy Now Pay Later (BNPL) solutions to Small & Medium businesses (SMBs). The partnership will enable both companies to leverage each other’s technological strengths, distribution network and credit appetite to offer AI-driven, ring-fenced credit to a large number of SMBs.
Gati’s revenue in Q4FY23 rose to Rs 356 crore from Rs 320 crore in Q4FY22. Profit before tax widened to Rs 10 crore from Rs 6 crore in the previous year. “The company has recorded a revenue of Rs 1,469 Crores in FY23 for the express business, witnessing a growth of 18% as compared to the last year. This performance reflects the company’s focus on volume growth and operational efficiency,” said Pirojshaw (Phil) Sarkari, Chief Executive Officer of Gati Ltd.
Aditya Birla Fashion and Retail, Balaji Amines, Brooks Laboratories, Cineline India, Gland Pharma, IPCA Laboratories, Jet Airways (India), Lagnam Spintex, Mankind Pharma, Orient Electric, Power & Instrumentation (Gujarat), Sheetal Cool Products and SEL Manufacturing Company were among 32 stocks that hit 52-week lows.
Andhra Cements, Advani Hotels & Resorts (India), Abans Holdings, Aptech, Arrow Greentech, Arvind, AU Small Finance Bank, Aurionpro Solutions, Bajaj Consumer Care, Bcl Industries, Bhansali Engineering Polymers, Birla Cable, Carborundum Universal, CARE Ratings, CG Power and Industrial Solutions, Chembond Chemicals, Cholamandalam Investment and Finance Company, Cholamandalam Financial Holdings, Cords Cable Industries, Cyient, DLF, Dynamatic Technologies, Finolex Industries, Foseco India, Fusion Micro Finance, GI Engineering Solutions, Goodyear India, Hilton Metal Forging, ION Exchange (India), IZMO, Jai Balaji Industries, Kaynes Technology India, Keerti Knowledge and Skills, Kingfa Science & Technology (India), Kokuyo Camlin, Kovai Medical Center and Hospital, Marine Electricals (India), Marshall Machines, Max Healthcare Institute, Menon Bearings, Narayana Hrudayalaya, Nilkamal, Poonawalla Fincorp, Precision Wires India, Pressman Advertising, The Ramco Cements, Refex Industries, Ramkrishna Forgings, Rane (Madras), Som Distilleries & Breweries, Servotech Power Systems, Share India Securities, Shree Digvijay Cement Co, Shreyans Industries, Shriram Pistons & Rings, Syrma SGS Technology, Tega Industries, Usha Martin and Wonderla Holidays were among 68 stocks that hit 52-week highs.
Adani Power, Adani Transmission, Adani Total Gas, Adani Green, NDTV, Indo Thai Securities, Apollo Micro Systems, AKI India, Indo Tech Transformers and Arrow Greentech were among 63 stocks that hit the upper price band. On the flip side, Jet Airways, PPAP Automotive, Avro India, W S Industries, Lorenzini Apparels and Soma Textiles & Industries were among the 68 stocks that hit the lower price band.
D P Wires, Seya Industries, Nilkamal, Niraj Cement Structurals, Thangamayil Jewellery, Raj Rayon Industries, Balaji Amines, Narayana Hrudayalaya Ltd., Archies, Gland Pharma, Fineotex Chemical, Ucal Fuel Systems, Share India Securities, Aditya Birla Sun Life Nifty Bank ETF, Muthoot Finance, NLC India, Crompton Greaves Consumer Electricals, Siemens, Elgi Equipments, Kakatiya Cement Sugar & Industries, Adani Ports and Special Economic Zone, Consolidated Finvest & Holdings and VRL Logistics were the volume gainers on the NSE.
Adani Enterprises Ltd, Adani Ports, Divis Lab, Apollo Hospital, Tech Mahindra, Wipro Infosys and TCS were the top gainers while Nestle India, Eicher Motors, Hero Motocorp, Axis Bank, HDFC Bank, ICICI Bank and Tata Motors were the top losers.
Adani Enterprises, Adani Ports, HDFC Bank, Siemens, ICICI Bank, SBIN, Gland Pharma, Infosys and Zomato were the most active stocks on NSE.
In sectoral indices, Bank Nifty fell 230 points or 0.52% to 43,739.1, Nifty FMCG was up 0.32%, Nifty Pharma was up 0.76%, Nifty IT jumped 1.61% and Nifty Metal surged 2.57%.
The volatility index, India VIX jumped 2.47% to 12.61.
In broader markets, Nifty Next 50 rose 0.54%, Nifty Midcap 100 was up 0.32%, Nifty Smallcap 50 climbed 0.41% and Nifty Total Market was up 0.33%.
“The stock is holding above the 200-day moving average (DMA) on the daily chart, which indicates a positive trend. Furthermore, there is a higher high and higher low pattern forming on the daily chart, suggesting upward momentum. On the weekly chart, there was a strong breakout with a close above the resistance level, accompanied by good volume. This breakout signifies a potential bullish move in the stock. For traders considering a buy entry, it is advisable to enter near the range of 4230-4240. The expected target for the trade is set at 4440/4620, indicating upside potential. One can maintain a stop loss at 4120 for this trade,” said Rupak De, Senior Technical Analyst at LKP Securities.
“DLF is a stock that has recently experienced a breakout on the weekly chart, accompanied by significant trading volumes. It is currently in a strong uptrend, with evidence of buying activity at lower price levels. The positive crossover of the momentum indicator, RSI, further confirms a buy signal. The stock has support at 454, and there is potential for an upside target of 500 to 515,” said Rupak De, Senior Technical Analyst at LKP Securities.
Paytm today announced that its wholly-owned subsidiary Paytm Money Limited has launched the most advanced bond platform for retail investors in India. The company is simplifying bonds for retail investors and enabling them to invest in three types of bonds – government, corporate and tax-free.
“Shreyas Shipping promoters have yesterday announced the proposal to buy out the public shareholders and delist the company. The board meeting for the same is expected on 24th May 2023. In our view, this is a big positive and shows the commitment of the promoters to the business so much that they are willing to buy the whole company. The current delisting provides an excellent opportunity for existing members and shareholders to exit at a significant premium from the current market price. Although the entire delisting to go through is completely dependent on the promoters to accept the bid price which will be discovered through the reverse book building process. The company is highly undervalued at the CMP of Rs 310 and we believe the promoters would be getting a steal even if they are able to buy out the company at Rs 400 per share as well,” said Siddharth Oberoi Founder and CIO at Prudent Equity.
“In Q4FY23 Welspun Enterprises Ltd posted the highest-ever revenues coupled with strong revenue growth of 27.86% on a sequential basis. The profits are not comparable on Y-o-Y and Q-o-Q basis because of the exceptional gain generated from the sale of HAM and BOT assets. Profit from ordinary activities before tax and exceptional items surged by over ~115% and 92.91% on a Y-o-Y and sequential basis. For the full financial year 2023, the company has reported revenue growth of 107.35%. The company, which is part of our Stock Recommendation section, stands at a sweet spot because of its strong balance sheet, robust order book of Rs 10100 crores, strong asset-light business, and numerous opportunities in the water and road sector,” said Diwakar Rana, Senior Research Analyst, Prudent Equity.
Bank Nifty fell 251.30 points or 0.57% to 43,718.10. The top losers on the index were Bank of Baroda, Axis Bank, HDFC Bank, ICICI Bank and IDFC First Bank while the gainers were PNB, Bandhan Bank and AU Bank.
The Indian rupee ended the previous week on a sour note following a rebound in the greenback and weaker Chinese currencies. The local unit marked the second weekly decline in a row to settle at 82.77, the weakest closing since February 2023. Even after strong foreign fund inflows, the rupee tumbled post 82.50. So far this month, foreign institutions have bought worth $753m equities and $163m debts.
The equity benchmark snapped three weeks’ winning streak and settled the previous volatile week on a subdued note. The Nifty settled the week at 18203, down 0.6%. In the process, the broader market relatively outperformed as Nifty midcap, and small-cap gained 0.2% and 0.85%, each. Sectorally, IT, financials, and realty relatively outperformed while pharma, energy, and metal relatively underperformed.
The NSE Nifty 50 jumped above the crucial 18300 mark today despite muted global cues. In the early morning trade, the SGX Nifty was trading marginally in the red, indicating that the benchmark indices, NSE Nifty and BSE Sensex could open flat or marginally lower. But two Adani group stocks Adani Enterprises and Adani Ports jumped up to 17%; and Divis Lab surged nearly 3% today, pushing the NSE Nifty 50 above 18300. Meanwhile, Eicher Motors, IndusInd Bank and Tata Motors were trying to pull the Nifty 50 down.
Adani Enterprises share price skyrocketed 15% to Rs 2244.85 today after an expert panel constituted by the Supreme Court to investigate the Adani Group on Friday said that at this stage, it is not possible to conclude that there was a regulatory failure on the price manipulation allegation. Adani Ports and Special Economic Zone shares surged nearly 10% to Rs 752.55, Adani power shares jumped 5% to Rs 248, Adani Transmission shares gained 5% to Rs 825.35, Adani Green Energy shares increased 5% to Rs 942.4, Adani Total Gas shares soared 5% to Rs 721.35, Adani Wilmar shares zoomed 10% to Rs 444.4, NDTV shares were up 5% to Rs 186.45, Ambuja Cements shares were up 6.41% to Rs 429.25 and ACC shares were up 5.23% to Rs 1820.05.
The NSE Nifty 50 jumped 99.95 points or 0.55% to 18,303.35. The top gainers were Adani Enterprises, Adani Ports, Divis Lab, Sun Pharma and Dr Reddy’s Laboratories while the losers were Eicher Motors, UPL, Tata Consumers, Hindalco and IndusInd Bank.
Bank Nifty fell 86.80 points or 0.20% to 43,882.60. The top gainers were PNB, Bandhan Bank, SBIN, AU Bank and Kotak Bank while the losers were Bank of Baroda, Axis Bank, Federal Bank, IDFC First Bank and IndusInd bank.
Power Grid Corporation on India share price jumped 2% to Rs 238.5 after the company reported a 2.5% decline in its standalone net profit to Rs 4,214.40 crore in the quarter ending March. The state-run company saw a 12.5% hike in its revenue from operations to Rs 11,494.90 crore in Q4FY23 on-year.
NTPC share price jumped 2% to Rs 176.85 after the company reported its highest-ever annual power generation of 399 billion units in FY23 as a group, an increase of about 11% over 361 BU in FY22.
JSW Steel share price fell 0.18% to Rs 691.8 after the company posted fiscal fourth-quarter profit at Rs 3,741 crore, up 11.9% on-year, from Rs 3,343 crore, beating estimates. It posted revenue from operations at Rs 46,962 crore as against Rs 46,895 crore in Q4FY23.
Federal Bank share price fell 0.36% to Rs 125.75 after the bank said that it plans to raise as much as $486 million in the next few months to support its expansion. The fundraising could be via debt or equity, or a combination of the two, with the final structure still under consideration, said the bank’s CEO.
Zomato share price jumped 1.04% to Rs 65.21 today after the food delivery company’s net loss narrowed to Rs 187.60 crore in Q4FY23 from Rs 359.70 crore in the same quarter last year. Zomato shares have risen 16% in the past one month and 12% in the past one year. At the current market price, the company’s market capitalisation stands at Rs 55,944 crore.
The top gainers on the Nifty 50 were Adani Enterprises, Adani Ports, NTPC, Bajaj Auto and Power Grid while the losers were Asian Paints, Hindalco, Bharti Airtel, Axis Bank and Mahindra & Mahindra.
Bank Nifty dipped 33.55 points or 0.08% to 43,935.85 while Nifty IT rose 140.40 points or 0.50% to 28,444.05.
Benchmark indices opened flat. The Nifty 50 was trading at 18,196.25 and BSE Sensex at 61,706.11.
“An important message for investors is that interest rates have peaked, globally as well as in India, and this is positive for equity markets in the second half of CY 2023. Rate sensitives like financials, real estate/construction and autos will benefit from a probable rate cut by end 2023. From the valuation perspective, IT stocks are good value buys now,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“The near-term uncertainty in the global equity markets is likely to continue since there is no resolution yet on the US debt ceiling issue. A strong rally will happen only after this impasse is out of the way. The undercurrent of the market is bullish. Bank Nifty will likely gain more traction since the Rs 2000 note withdrawal is positive for banks. It will add to the deposits of banks and increase their CASA thereby boosting their bottom line,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The NSE Nifty 50 fell 2.3 points or 0.01% to 18,201.10 and BSE Sensex dipped 149.9 points or 0.24% to 61,579.78 in pre-open.
“Bank Nifty undertone remains bullish as long as it holds the levels of 43500 as put writers are fiercely active on 44000 and 43500 and call writers are active on 44500 and 44000. Technical indicator RSI is at around 66 and is showing strength by sustaining above 50 levels. Support placed at 43850, 43700 and 43500 while resistance at 44000, 44100 and 44200,” said Mitesh Karwa, Research Analyst at Bonanza Portfolio Ltd.
“The presence of several bullish continuation patterns in the hourly chart encourages us to remain positive on Bank Nifty. However, the inability to scale 44150 or outright slippage past 43550, could call for 42800,” said Anand James, Chief Market Strategist at Geojit Financial Services.
“Bank Nifty is outperforming and consolidating between the 43500–44200 zones. It is likely to cross its all-time high and may head towards the 44444 level. On the downside, 43440 is an immediate support level that should be a stop-loss for long positions,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
“Bank Nifty is likely to continue its uptrend. The immediate resistance is at 44000. If the index is able to break above this level, it could see a sharp move toward the 44500 level,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
Bank Nifty first support at 43671 and then 43351 while resistance at 44163 and then 44336, according to Rahul Sharma, JM Financial.
“It is important for the Nifty index to confirm its strength by surpassing the key hurdle at the 18473 mark. Only then can a bullish trend be established. Currently, the market trend is considered neutral,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
“Nifty reclaiming of 18200 on Friday suggests that bulls did not get intimidated by this key level, and are now en route 18660. However, if 18270 appears too stiff an obstacle to cross this week, expect 17970 before getting back on to the 18660 move again,” said Anand James, Chief Market Strategist at Geojit Financial Services.
“Nifty might face resistance above the 18300-18400 level, below that level it might retest the 18000 level. Therefore, the index is expected to continue rising in the future until the index trades above the 18300-18400 level. On the downside, support lies at 18000, followed by 17870 and 17800,” said Rohan Shah, head technical analyst at Stoxbox.
“Nifty has found support at the 20DMA of 18050 while resistance levels are expected at 18280–18300, which is at the 9DMA. If the Nifty breaches the 18300 level, then 18460 will be the next target level. Overall, Nifty is in consolidation mode, and the range of consolidation is likely to be at 18000–18400 levels,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
“Nifty price and momentum indicator suggest that there could be further up moves over the next few trading sessions. In terms of levels, 18300–18350 is the immediate hurdle zone while 18100–18050 shall act as a crucial support zone. Overall, 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.
“Nifty respected the crucial support at 18,050 on Friday and its sustainability would be critical for the index to retest the 18,500-18,700 zone. In case of a breakdown, the 17850 zone would offer the needed cushion,” said Ajit Mishra, VP – Technical Research, Religare Broking Ltd.
“Nifty found support at the 21EMA, resulting in a smart recovery from the day’s low. Positive divergence was observed on the hourly RSI, suggesting a possible shift in momentum. Resistance on the higher end, is seen at 18300, while support is placed at 18050,” said Rupak De, Senior Technical analyst at LKP Securities.
“Nifty run-up is expected to continue in the coming period. On the technical levels, the 18050-18000 was firmly safeguarded. On the higher end, 18400-18450 is likely to act as the sturdy wall and a decisive breach would only trigger fresh longs in the system in the future,” said Osho Krishan, Sr. Analyst, Technical & Derivative Research, Angel One Ltd.