Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Wednesday’s session broadly in green. The NSE Nifty 50 gained 127.40 points or 0.68% to 18,726.40 and BSE Sensex skyrocketed 350.08 points or 0.56% to 63,142.96. In sectoral indices, Bank Nifty soared 110.75 points or 0.25% to 44,275.30, Nifty FMCG surged 571 points or 1.12% to 51,609.40, Nifty Metal jumped 90.30 points or 1.51% to 6,057.75 and Nifty Realty zoomed 7.90 points or 1.59% to 506.30. The top gainers on Nifty 50 were Britannia, Tata Consumer, BPCL, Nestle India and HDFC Life while the losers were Kotak Bank, Cipla, Maruti Suzuki, Bajaj Finance and Adani Ports.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Benchmark indices NSE Nifty 50 and BSE Sensex ended Wednesday’s session broadly in green. “Investors are becoming more optimistic due to the anticipation of a positive revision in the RBI’s inflation forecast during the ongoing MPC meeting. It is expected that the RBI will maintain its pause on rate hikes, considering the significant improvement in inflation, which has now come within the RBI’s comfort zone. Furthermore, the participation of FIIs as net buyers, after a brief halt, contributed to today’s market rally, particularly driven by mid and small-cap stocks,” said Vinod Nair, Head of Research at Geojit Financial Services.
The NSE Nifty 50 soared 127.40 points or 0.68% to 18,726.40 and BSE Sensex jumped 350.08 points or 0.56% to 63,142.96.
Future Enterprises, Goyal Aluminiums, Paras Petrofil, Siti Networks, Sintex Plastics Technology, Suumaya Industries, Viji Finance and Lexus Granito (India) were among 10 stocks that hit 52-week lows.
3M India, 5Paisa Capital, AIA Engineering, Anant Raj, Apollo Hospitals Enterprise, Apollo Pipes, Apollo Tyres, Arrow Greentech, Artemis Medicare Services, Asian Hotels (North), Aster DM Healthcare, Aurionpro Solutions, Aurobindo Pharma, Avalon Technologies, Axis Bank, Bajaj Auto, Bharat Dynamics, Bharat Electronics, Birla Corporation, Britannia Industries, Can Fin Homes, Capacit’e Infraprojects, Centum Electronics, Capri Global Capital, Chembond Chemicals, Cholamandalam Investment and Finance Company, Craftsman Automation, CRISIL, Dalmia Bharat, Data Patterns (India), DC Infotech And Communication, DLF, Dreamfolks Services, Electrosteel Castings, Engineers India, Force Motors, Fusion Micro Finance, Genus Power Infrastructures, Glenmark Pharmaceuticals, Globus Spirits, Glenmark Life Sciences, Gokaldas Exports, Greenlam Industries, GRP, Hindustan Aeronautics, Hardwyn India, HBL Power Systems, Hero MotoCorp, Hindustan Petroleum Corporation, Himadri Speciality Chemical, Ice Make Refrigeration, IDFC, IDFC First Bank, InterGlobe Aviation, IOL Chemicals and Pharmaceuticals, ION Exchange (India), Iris Clothings, Isgec Heavy Engineering, ITD Cementation India, Inox Wind Energy, IZMO, JITF Infralogistics, KDDL, KEI Industries, Kirloskar Brothers, Kirloskar Pneumatic Company, L&T Finance Holdings, Lorenzini Apparels, Lloyds Steels Industries, Mahindra & Mahindra, Maan Aluminium, Mahindra CIE Automotive, Manaksia, Man Infraconstruction, Mankind Pharma, Marathon Nextgen Realty, Marksans Pharma, Maruti Suzuki India, Max Healthcare Institute, MPS, Munjal Showa, NAVA, Nestle India, NINtec Systems, Nitin Spinners, NRB Bearing, NMDC Steel, Nucleus Software Exports, Patel Engineering, Pavna Industries, Peninsula Land, Procter & Gamble Health, Pondy Oxides & Chemicals, PB Fintech, Prestige Estates Projects, Prime Securities, Race Eco Chain, Ram Ratna Wires, REC, Repco Home Finance, Responsive Industries, Revathi Equipment, Rico Auto Industries, Safari Industries (India), Saksoft, Sanghvi Movers, Sanofi India, Sansera Engineering, Shivalik Bimetal Controls, Som Distilleries & Breweries, Servotech Power Systems, Sintercom India, SKM Egg Products Export (India), Strides Pharma Science, Star Cement, Stylam Industries, Surya Roshni, Swaraj Engines, Syngene International, Taj GVK Hotels & Resorts, TARC, Tata Communications, Tata Motors, Thomas Scott (India), TIPS Industries, Titan Company, Torrent Power, Trent, TVS Motor Company, Titagarh Wagons, Ujjivan Small Finance Bank, UltraTech Cement, Usha Martin, Vardhman Polytex, Voltamp Transformers, VA Tech Wabag, Welspun Investments and Commercials and ZF Commercial Vehicle Control Systems India are among 145 stocks to hit 52-week highs.
Touchwood Entertainment, Sangam (India), Alkali Metals, Bharat Road Network, DB (International) Stock Brokers, Genesys International Corporation, PPAP Automotive, Palash Securities, Orissa Bengal Carrier, Strides Pharma Science, HOV Services, Maha Rashtra Apex Corporation, Kotak Nifty 50 ETF, Welspun Investments and Commercials, BSL, The Motor & General Finance, Manaksia Steels, HB Stockholdings, VIP Clothing, Mahindra EPC Irrigation, Orient Green Power Company, Shree Rama Newsprint, Rollatainers, Dhampur Sugar Mills and Shemaroo Entertainment were the volume gainers.
Britannia, BPCL, Tata Consumer, Nestle India, HDFC Life, Tata Motors, Hero Motocorp, Bharti Airtel, SBI Life and Apollo Hospitals were the gainers while Kotak Bank, Cipla, Mahindra & Mahindra, ICICI Bank, Bajaj Finance, Maruti Suzuki, Sun Pharma and ONGC were the losers.
The most active stocks on the NSE were HDFC Bank, Axis Bank, ICICI Bank, Tata Motors, Britannia, Infosys, Adani Power and Adani Enterprises.
In sectoral indices, Bank Nifty rose 39.55 points or 0.09% to 44,204.10, Nifty FMCG jumped 1.05%, Nifty IT gained 0.73% and Nifty Realty soared 1.34%.
The broader market indices were trading higher with Nifty Next 50 rising 0.75%, Nifty Midcap 100 gaining 0.96% and Nifty Smallcapp 100 surging 1.22%.
Internovo Ventures, a joint venture between the family office of financial services veteran Karan Desai and Novostack, a new-age technology company has launched Indirow, a state-of-the-art B2B2C loan origination platform. Indirow aims to meet the growing demand for various retail loan products in India with its diverse product offerings. This platform also offers opportunities to businesses to become partners and monetise their client base and develop new revenue streams.
Nifty FMCG jumped 513 points or 1.01% to 51,551.40. UBL, Britannia, Tata Consumer, Nestle India and Marico were the top gainers while VBL and Radico were the losers.
Adani Power, Adani Transmission, Adani Green Energy and Adani Wilmar shares jumped today after BSE and NSE raised the upper circuit limit. Adani Power’s upper band limit has been increased to 20% from 5% while the other three stocks’ limit has been raised to 10% from 5%. Today, Adani Power share price jumped over 7% to Rs 281.70, Adani Transmission share price gained 3.54% to Rs 845, Adani Green Energy share price rose 1.32% to Rs 1,006 and Adani Wilmar share price surged 2.8% to Rs 442. BSE has revised the circuit limits for a total of 477 listed stocks, with 14 stocks getting a lower revision of limits starting today.
Derivative Strategy (Time Period: 1 month): BUY Chola Finance June future at Rs 1055-1060 - Stop loss: Rs 1036.8 - Target: Rs 1080.
Trading ideas (Time period: 1- 14 days): BUY Gujarat Gas June future at Rs 478-480 - Stop loss: Rs 469.5 - Target: Rs 489.
Short Term (2-3 days): Buy Varroc at Rs 312-315 - Stop Loss: Rs 307 - Target: Rs 326 - IIFL Securities
“The global positivity is aiding well for our markets as we saw Nifty posting its calendar year high of 18676.05 in early trades today. The follow-up is missing from the BFSI space. Once we see contribution from the heavyweight pockets, Nifty is good to go towards its record highs soon,” said Sameet Chavan, Head of Research, Technical and Derivatives, Angel One Ltd.
“The rejection trade last week, and the consolidation just under 18660 for the last couple of days, sets up an ideal template for a leap into the 18750 - 18887 – 19070 train. We will retain 18560 as the downside risk level, which was briefly penetrated yesterday, before recovery. The key zone, once past 18660 would be the 18750-18887 region, where another phase of consolidation is likely to unfold,” said Anand James, Chief Market Strategist at Geojit Financial Services.
“Globally, the market backdrop is favourable with both US and European markets consolidating and slowly gaining strength. Markets believe that the June Fed decision will be paused. In India, too, the MPC decision tomorrow is most likely to be a pause since CPI inflation has come within RBI’s tolerance limit. The 7.2% GDP growth in FY23 and upward revision in FY 24 growth rate to around 6.4% are strong positives that can impart resilience to the market. Financials will continue to do well. Autos have made a strong comeback after 5 years and will gain further from falling commodity prices and steadily improving demand,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Nifty IT rose 97.75 points or 0.34% to 28,786.80. Persistent System, LTTS, MPhasis, Infosys and Wipro while the sole loser was HCL Tech.
Torrent Power share price jumped 7% to Rs 666 after the company signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for the development of three pumped storage hydro projects of 5,700 MW capacity in Maharashtra. The projects would entail an investment of about Rs 27,000 crore. Torrent intends to execute these projects over a period of 5 years.
G R Infraprojects share price jumped 1.45% to Rs 1287.05 after GR Hasapur Badadal Highway executed the concession agreement with the National Highways Authority of India (NHAI). The bid project cost is Rs 872.2 crore. The said highway project in Maharashtra is to be executed in Hybrid Annuity Mode under Bharatmala Pariyojana.
Deepak Fertilisers & Petrochemicals Corporation share price fell 0.27% to Rs 559.1 after its Subsidiary Performance Chemiserve raised Rs 900 crore via the issuance of non-convertible debentures (NCDs) on a private placement basis to qualified institutional buyers. NCDs are to be listed on BSE Limited.
Engineers India share price jumped 2.45% to Rs 112.85 after National Aluminium Company (NALCO) selected the company for providing consultancy services for the updation of a detailed project report (DPR) for Pottangi bauxite mines for enhancing raw-ore production. Jindal Steel and Power (JSPL) has signed a contract with Engineers India for the supply of basic engineering and detail engineering for a direct reduced iron plant at Angul, Orissa. These orders are worth Rs 20.55 crore.
Wipro share price rose 0.8% to Rs 403.1 after launching the Wipro Industry Innovation Experience for Financial Services solution on Microsoft Cloud. Microsoft and Wipro will develop new solutions to help financial services clients accelerate growth and deepen client relationships.
GMR Airports Infrastructure share price rose 0.89% to Rs 41.99 after GMR Hyderabad International Airport (GHIAL) divested approximately 8.18 lakh square feet of warehouse facility at the Hyderabad Airport to ILP Core Ventures I PTE Limited for Rs 188.1 crore.
Tata Power share price fell 0.65% to Rs 215.3 as the company’s shares turned ex-dividend.
NDTV share price rose 0.85% to Rs 238.2 after the stock exchanges said that the stock will move out of the short-term additional surveillance framework from Wednesday.
Adani Power share price jumped 3.6% to Rs 272.45 after the stock exchanges increased the circuit limit to 20% from 5%.
Bank Nifty jumped 135 points or 0.30% to 44,300. The top gainers on the index were AU Bank, Bandhan Bank, Bank of Baroda, IndusInd Bank and Axis Bank while the sole loser was Kotak Bank.
Nifty 50 surged 71.25 points or 0.38% to 18,670.25 and BSE Sensex jumped 189.93 points or 0.30% to 62,982.81.