Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Wednesday’s session in green. The NSE Nifty 50 rose 39.75 points or 0.21% to 18,755.90 and BSE Sensex gained 85.35 points or 0.14% to 63,228.51. In sectoral indices, Bank Nifty fell 91.85 points or 0.21% to 43,988, Nifty Auto rose 0.17%, Nifty FMCG gained 0.59%, Nifty Metal jumped 1.42% and Nifty Oil & Gas surged 0.91%. The top gainers on Nifty 50 were Tata Consumer, Grasim, JSW Steel, Tata Steel and Power Grid while the losers were IndusInd Bank, Bajaj FInance, Bharti Airtel, Axis Bank and Hero Motocorp.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
“The 18600 zone for Nifty is likely to cushion any blip in the coming period, while the sacrosanct support lies around the 18500 mark. Meanwhile, the global markets should be watched closely as any further relief could act as a catalyst to open up the next leg of the rally towards the lifetime high zone of 18888,” said Osho Krishan, Sr. Analyst, Technical & Derivative Research, Angel One Ltd.
“Nifty has resumed its up move and successfully defended the crucial support zone of 18530–18500. On the upside, the current up move can extend till 18800 and beyond that 18889. The momentum indicator on the daily and hourly time frame is providing divergent signals however price action is suggesting strength. In terms of levels, today’s gap area formed in the range 18630–186200 shall act as a crucial support zone while 18778–18800 shall act as an immediate hurdle zone,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“Nifty is currently maintaining a position above the critical moving average, which is a key level of support. Additionally, the Relative Strength Index (RSI) has indicated a bullish crossover, further indicating positive momentum in the market. For the Nifty, initial support is expected to be found at the level of 18700, where significant Put writing has been observed. On the other hand, resistance levels are seen at 18800/18900,” said Rupak De, Senior Technical at LKP Securities.
“The market is likely to open marginally higher on June 14 as the SGX Nifty indicates a positive start for the broader index, with a gain of 45 points. The US markets have been steadily rising over the last six days. For a long time, Indian markets have been consolidating between 18500 and 18800. The global focus will be on the Federal Reserve meeting, where a rate hike or pause will be widely watched. The strong purchasing figures will aid the market's upward movement, and traders can buy the decline with a stop loss of 18550 on a closing basis, as it is a significant support for the Nifty,” said Deven Mehata, Equity Research Analyst at Choice Broking.
“Markets may witness upward trajectory in Wednesday trades following sharp gains in the US markets after the country's inflation moderated, thus raising hopes that the Fed may take a dovish stance in the wake of cooling inflation. Another global factor that could help keep local traders in good stead is the lowering of a key interest rate by the People's Bank of China. The move was aimed at injecting additional funds into the banking system to prop up growth. Investors will also pay close attention to FOMC Chairman Jerome Powell’s comments on the policy outlook. In case the Fed keeps rates unchanged, the feel-good factor could have a rub-off effect on benchmark Nifty that may help the index reach its all-time high of 18888 sooner than later,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Indel Money currently operates through its more than 250 branches in 8 states like Maharashtra, Odisha, Karnataka, Andhra Pradesh, Tamil Nadu, Telangana, Puducherry and Kerala is aggressively pursuing a pan-India roadmap by opening 105 branches in FY24.This includes 45 branches in Maharashtra, Gujarat, Rajasthan and Madhya Pradesh. The company has launched the third public issue of non-convertible debentures (NCD) of face value Rs. 1,000 each (open from June 6–19 June 2023). The issue aggregates up to Rs 100 crore and the coupon yields up to 12.25% per annum.
“Nifty’s biggest support to watch for today’s session is placed at the 18557 mark. On the upside, the index faces major hurdles at its all-time-high at the 18888 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
The US market ended the overnight session in green after the CPI inflation eased to 4% in May from 4.9% in April – Dow Jones Industrial Average (DJIA) rose 0.43%, S&P 500 gained 0.69% and the tech-heavy Nasdaq climbed 0.83%.
Asian markets were trading in green – Hong Kong’s Hang Seng rose 0.44%, China’s Shanghai Composite index gained 0.38%, Asia Dow jumped 0.68% and Japan’s Nikkei 225 surged 1%.
The Nifty futures on the Singapore Exchange (SGX) traded 44 points or 0.24% higher at 18,829.5 in today’s early morning trade.
The National Stock Exchange has IEX, India Cements, Delta Corp, Manappuram Finance, BHEL, and Indiabulls Housing Finance securities on its F&O ban list for 14 June. 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) purchased shares worth net Rs 1,677.60 crore, while domestic institutional investors (DII) offloaded shares worth net Rs 203.32 crore on June 13, according to the provisional data available on the NSE.
Oil prices inched higher on Wednesday after industry data showed an unexpected rise in U.S. crude stocks, signalling weak demand to markets already worried about recession and disappointing Chinese economic data.
On Tuesday, continuing their upward momentum for the second day, the domestic indices NSE Nifty 50 and BSE Sensex recorded gains, ending the day in positive territory. Nifty 50 surged by 118 points, closing at 18,716, while Sensex experienced a 0.67% increase, settling at 63,143.
The SGX Nifty recorded a gain of 0.26% during Wednesday’s early trading session, with a value of 18,833 indicating a positive opening for the domestic indices NSE Nifty 50 and BSE Sensex.