Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Thursday’s session in the red. The NSE Nifty 50 sank 67.80 points or 0.36% to 18,688.10 and BSE Sensex tumbled 310.88 points or 0.49% to 62,917.63. In sectoral indices, Bank Nifty plunged 544.40 points or 1.24% to 43,443.60, Nifty PSU Bank tanked 1.99% while Nifty Pharma jumped 1.42%. The top gainers on Nifty 50 were Apollo Hospitals Enterprise, Divis Lab, Dr Reddy’s Laboratories, Cipla and BPCL while the losers were Hero Motocorp, Wipro, IndusInd Bank, SBIN and Kotak Bank.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Benchmark indices ended Thursday’s session in the red. "The domestic market is responding to the Fed’s hawkish commentary, which suggests the possibility of 2 more rate hikes in the future this year, although they have currently opted for a halt. Due to concerns about inflation persisting above their target range, Fed officials have increased their rate projections by 47.5 bps for the end of 2023 to 5.6%. Despite weakness in the benchmark index, there is buying interest observed with the Nifty Mid-cap index trading at an all-time high,” said Vinod Nair, Head of Research at Geojit Financial Services.
The NSE Nifty 50 tumbled 67.80 points or 0.36% to 18,688.10 and BSE Sensex plunged 310.88 points or 0.49% to 62,917.63.
Jubilant Industries, Poly Medicure, Nectar Lifesciences, Chembond Chemicals, Supreme Petrochem, Lokesh Machines, GKW, Solara Active Pharma Sciences, Shaily Engineering Plastics, Roto Pumps, PNC Infratech, Amrutanjan Health Care, Mukta Arts, Apex Frozen Foods, Cords Cable Industries, Bajaj Healthcare, NRB Industrial Bearings, The Great Eastern Shipping Company, Madhucon Projects, GlaxoSmithKline Pharmaceuticals, Mangalam Drugs And Organics and McLeod Russel India were the volume gainers.
Cerebra Integrated Technologies, Reliance Communications, Siti Networks, Sintex Plastics Technology, Suumaya Industries, Tirupati Forge, GHCL Textiles and M K Proteins were among 11 stocks that hit 52-week lows.
AIA Engineering, Ajmera Realty & Infra India, APL Apollo Tubes, Apollo Micro Systems, Apollo Hospitals Enterprise, Apollo Tyres, Artemis Medicare Services, Asian Energy Services, Aster DM Healthcare, AstraZeneca Pharma India, Aurionpro Solutions, Aurobindo Pharma, Baid Finserv, Balmer Lawrie & Company, Bombay Burmah Trading Corporation, Brand Concepts, Mrs Bectors Food Specialities, Bharat Petroleum Corporation, Brigade Enterprises, Britannia Industries, Carborundum Universal, Chembond Chemicals, Cholamandalam Investment and Finance Company, Cholamandalam Financial Holdings, Cords Cable Industries, Craftsman Automation, LT Foods, Dalmia Bharat, DLF, Dynamic Cables, Dynamatic Technologies, Everest Industries, Fertilizers and Chemicals Travancore, Force Motors, Genus Power Infrastructures, The Great Eastern Shipping Company, GKW, Godrej Consumer Products, Godrej Industries, Godrej Properties, Godawari Power And Ispat, Hariom Pipe Industries, HEG, Indo Count Industries, IDFC, IDFC First Bank, Indo Tech Transformers, Ingersoll Rand (India), International Conveyors, Indian Oil Corporation, Isgec Heavy Engineering, Inox Wind Energy, Jay Bharat Maruti, JBM Auto, JITF Infralogistics, JK Cement, Jindal Stainless, JSW Ispat Special Products, Jubilant Industries, Just Dial, Jupiter Wagons, Karma Energy, Karur Vysya Bank, KEI Industries, Kirloskar Industries, Kirloskar Pneumatic Company, L&T Finance Holdings, Lorenzini Apparels, Landmark Cars, Lokesh Machines, Lumax Industries, Lupin, Man Infraconstruction, Max Healthcare Institute, Global Health, Menon Bearings, MIC Electronics, MRF, Munjal Showa, Nestle India, Narayana Hrudayalaya, NINtec Systems, Novartis India, Oracle Financial Services Software, Olectra Greentech, One 97 Communications (Paytm), PCBL, PI Industries, PB Fintech, Poly Medicure, Power Mech Projects, Precision Camshafts, The Ramco Cements, Responsive Industries, Roto Pumps, R S Software (India), R Systems International, Sahyadri Industries, Saksoft, Sarda Energy & Minerals, Servotech Power Systems, Shanthi Gears, Shree Digvijay Cement, Signet Industries, Sigma Solve, Somany Ceramics, Spandana Sphoorty Financial, Steel Strips Wheels, Star Cement, Sudarshan Chemical Industries, Sula Vineyards, Sundram Fasteners, Syngene International, Syrma SGS Technology, Tata Coffee, Tata Consumer Products, Tata Motors, UltraTech Cement, Uma Exports, Vardhman Polytex, Virinchi, Wendt (India) and Zydus Lifesciences were among 136 stocks to hit 52-week highs.
Apollo Hospital, Dr Reddy’s Laboratories, Divis Lab, Cipla, BPCL, Adani Enterprises, Maruti Suzuki, Mahindra & Mahindra, Nestle India and ITC were the top gainers while IndusInd Bank, Wipro, Kotak Bank, HDFC Life, State Bank of India (SBIN), ICICI Bank, HDFC Bank, Hero Motocorp, Infosys and HDFC were the losers.
HDFC Bank, Axis Bank, ICICI Bank, Reliance Industries Ltd (RIL), Paytm, Adani Enterprises, Infosys, Zomato and Tata Motors were the most active stocks on NSE.
In sectoral indices, Bank Nifty tumbled 490.40 points or 1.11% to 43,497.60, Nifty PSU Bank plunged 1.63% while Nifty Pharma jumped 1.42%.
The volatility index, India VIX rose 0.98% to 11.27.
The broader market indices were trading mixed; Nifty 100 was down 0.24% while Nifty Smallcap 50 rose 0.23%.
Bank Nifty tanked over 400 points from the intraday high, trading at 43,665. The top losers were Bandhan Bank, IndusInd Bank, Federal Bank, Bank of Baroda and Kotak Bank while the gainers were IDFC First Bank and AU Bank.
Nifty Pharma jumped 183.70 points or 1.42% to 13,160.50. The top gainers on the index were Dr Reddy’s Laboratories, Zydus Lifesciences, Aurobindo Pharma, Divis Lab and Lupin while the losers were GlaxoSmithKline Pharmaceuticals, Sanofi India and Granules.
Bank Nifty tanked 239.60 points or 0.54% to 43,748.40. Bandhan Bank, IndusInd Bank, Federal Bank, Bank of Baroda and Kotak Bank were the top losers on the index.
Coal India share price fell 0.31% to Rs 228.25 after the Supreme Court rejected the company’s contention and ruled that the Competition Act, 2002 applies to to public sector company, Coal India.
In May, despite inching towards new record levels, headline Nifty 50 index failed to keep pace with the broader market performance, particularly when compared to the Nifty Next 50 index. A recent report by Motilal Oswal highlighted that the Nifty Junior, or Nifty Next 50 index, witnessed a rise of 6.42% in May, extending its winning streak for the third consecutive month. Over the span of three months, the index jumped 12.88%.
Pepsico bottler Varun Beverages share price jumped 6.89% to Rs 862.90 today after the stock turned ex-date for stock split. The stock with a face value of Rs 10 has been split into two shares of Rs 5 each. The stock has jumped over 110% in the last one year and nearly 7% in the last one month. Meanwhile, in the March quarter, company’s net profit rose 69% on-year to Rs 429 crore and revenue for the quarter was up 38% on-year to Rs 3,893 crore.
Nifty Pharma jumped 138.05 points or 1.06% to 13,114.85. The top gainers on the index were Divis Lab, Zydus Life, Lupin, Laurus Labs and Dr Reddy’s Laboratories while the losers were GlaxoSmithKline Pharmaceuticals, Granules India, Sanofi India, Alkem Laboratories and Sun Pharma.
“Expect consolidation in the 18740 vicinity with eyes on 18887-19000-19070, but a vertical upside is less expected. While downside attempts are likely to be curbed at 18708 initially, it might give away, should it be attacked in the second half, exposing 18600,” said Anand James, Chief Market Strategist at Geojit Financial Services.
Dilip Buildcon share price jumped 4.91% to Rs 237.25 after the company announced that its subsidiary DBL Chandikhole Bhadrak Highways completed the project “Rehabilitation and Up-gradation to Six-Laning of Chandikhole-Bhadrak. The company has received the letter of Completion Certificate from the authority for the project worth Rs 1,522 crore.
Indian Overseas Bank shares fell 0.54% to Rs 24.38 after the lender’s Asset Liability Management Committee reviewed the base rate workings, following which they decided to increase the base rate by 20 bps to 9.10% from the existing 8.90%. This new rate will come into effect from 15 June.
SJVN share price rose 1.71% to Rs 39.10 after the company signed a memorandum of understanding (MoU) with the Maharashtra State Power Generation Company for the development of 5,000 MW of renewable energy projects in the state.
Axis Bank share price slipped 0.2% to Rs 975.85 after reports suggested that private equity major Bain will offload its stake in Axis Bank, garnering around $267 million for their 1.3% stake.
Bank Nifty fell 95.05 points or 0.22% to 43,892.95. The top losers were IndusInd Bank, Bandhan Bank, AU Bank, IDFC First Bank and Bank of Baroda while the sole loser was Axis Bank.
The NSE Nifty 50 dipped 18.15 points or 0.10% to 18,737.75 and BSE Sensex fell 116.52 points or 0.18% to 63,111.99.
“Indian market is likely to open on the lower side as SGX suggests a 30-point decline. Benchmark indices are on the cusp of reaching an all-time high, aided by overall sectors. We anticipate that Pharma and Commodities related stock would perform better for today’s session. The Indian market is anticipated to trade with large swings due to weekly expiry,” said Om Mehra, Equity Research Analyst at Choice Broking.
Bank Nifty intraday outlook is bearish if it breaks 43875. Support seen at 44017 and 43908 and resistance at 44272 and 44418, according to Rahul Sharma, JM Financial.
Nifty rangebound movement is expected unless 18778 or 18690 is not taken out. Trail stop loss to 18555 for Longs. Support placed at 18690-18635 and resistance at 18778-18900, according to Rahul Sharma, JM Financial.
“Nifty saw a jittery start to the day as it gapped up 30 points, pared 64 points immediately in the first half hour and then trended higher during the day as it found modest buying interest from the support near 18,700. The index faces immediate pivotal resistance at 18,777 as we head to the weekly derivative expiry and the index is anticipated to attract further bullish momentum on a decisive close above the mentioned hurdle. Support placed at 18700-18660-18600 and resistance at 18777-18810-18890,” said Riches Vanara, Technical and Derivatives Analyst, Stoxbox.
“Domestic equity bourses are likely to struggle in early Thursday trades amid weakness in SGX Nifty after US markets closed mixed overnight. Although the Fed left rates unchanged, it has kept the window open for another 50 bps hike in key rates for the year in case inflation remains sticky, which could probably spoil the party for investors who were hoping for a more dovish comment. With uncertainty over policy rates hanging around, the market may remain choppy with strong bouts of intra-day volatility, even as selective buying would continue as an ongoing theme. Technically, the markets may rally only above the all-time high level of 18888, while the make-or-break support for Nifty is seen at the 18553 mark,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
“Bank Nifty has made a big bearish candlestick on the daily timeframe and is seen to be closing around yesterday’s lows which can be the cause of short-term negativity. Bank Nifty close in the range of 43750-43800 will pull the index towards 43000 in the coming weeks. The resistance is at around 44100-44200 and the support is at around 43900-44000. Till the time Bank Nifty breaks this range it is expected to remain sideways. Technical indicator RSI is at around 54 as is showing strength by sustaining above 50 levels,” said Mitesh Karwa, Research Analyst at Bonanza Portfolio.