Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended the calendar year 2021 on a higher note, surging up to 24 per cent. On the last day of this calendar year, BSE Sensex jumped 460 points or 0.80 per cent to end at 58254, while the Nifty 50 index added 150 points or 0.87 per cent to settle at 17354. Titan Company, UltraTech Cement, Kotak Mahindra Bank, Maruti Suzuki, State Bank of India (SBI), Axis Bank, Bajaj Finserv, Hindustan Unilever Ltd (HUL), Reliance Industries Ltd (RIL) were among top index leaders. On the contrary, NTPC, Tech Mahindra, PowerGrid Corporation of India, and Dr.Reddy’s Laboratories were the top BSE Sensex draggers. All the Nifty sectoral indices ended in the positive territory. Bank Nifty jumped 1.2 per cent settle at 35,482.
On the last day of this calendar year, BSE Sensex jumped 460 points or 0.80 per cent to end at 58254, while the Nifty 50 index added 150 points or 0.87 per cent to settle at 17354
Indian stocks have outperformed both Asian and Emerging Markets peers this year – Nifty is up 23% against (-4%) for MSCI Asia Pacific Index and (-5.5%) for MSCI Emerging Markets index. There has been much commentary focused on how the valuation premium for India over peer markets is more than 1 standard deviation above its longer-term level. Nonetheless, over the last 12 months, consensus earnings upgrades to estimates for FY23 for Nifty components have also been around 20% (Data: Bloomberg).
The battle is far from over against Covid-19 variants but for now the US FDA has approved Merck & Co and Pfizer pills as an emergency use as antivirals are effective against the variant. It is likely to be the year for Central Bank action. The Fed will increase rates three times in 2022. ECB will do the same but will speak during the next policy meeting (Feb 2022). BoE has raised the rate once in the current December meet. Both Fed & ECB will start tapering faster than anticipated.
Other sectors like Travel, Tourism, Leisure, Real Estate and ancillaries like cement and other building material companies are also expected to contribute in 2022. This optimism has positively replicated on the technical charts as well.
As we step into 2022, it seems prices will soften initially as there is a lot of uncertainty stemming from the fast-spreading Omicron variant. While supply is anticipated to witness a rise from the major producers, demand worries would keep prices under check amidst the fragility emanating from the Covid threat. OPEC+ alliance plans to stick to their existing policy of restoring monthly output by 400,000 bpd, though it remains to be seen how they react to the recent risks to demand from re-imposition of lockdown measures in certain countries. Also, non-OPEC supply is likely to grow by 3 mbpd next year.
As far as levels are concerned, 17200 – 17300 remains to be a corridor of uncertainty for market participants and till the time we do not see convincing breakout above this range, the bulls would not have the upper hand. On the flipside, 17150 would be seen as intraday support for the coming session; but overall, 17000 – 16800 is to be considered as a sacrosanct support zone. We reiterate that the indices may not be doing much; the individual stocks are not at all short of action. Hence one should continue to identify such potential movers and trade accordingly.
Warren Buffet, CEO of Berkshire Hathaway, known for his investment portfolio. In the third quarter, Berkshire Hathaway was a net seller of stocks for the fourth consecutive quarter. Berkshire equity sales were a net $1.95 billion, up from $1.1 billion in the second quarter. Some of the stocks in his portfolio have been for years and even decades. However, this year Buffett sold and shed some of the stock from his portfolio. Buffett’s Berkshire exited Merck & Co., as well as Merck spinoff Organon.
Petrol, diesel prices continued to remain unchanged on Friday (31 December) across the country. Petrol rate in Delhi is Rs 95.41 per litre while diesel is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel is retailing at Rs 109.98 and Rs 94.14, respectively. The Jharkhand government, however, announced a huge cut in petrol prices for two-wheelers on Wednesday, and the new prices will be implemented from January 26, 2022. The concession will be given for 10 litres of petrol for every month.
Shares of PB Fintech soared 5% in Friday's session as the internet-based insurance company approved an investment of up to Rs 700 crore in one or more tranches in its subsidiary Policybazaar Insurance Brokers Private Limited during FY22 and FY23, and up to Rs 299.99 crore in subsidiary Paisabazaar Marketing and Consulting Private Limited.
Most precious metal investors will be happy to put 2021 in their rear view mirrors and look for a promising 2022 year. Despite a positive price environment of historically negative real interest rates, the gold market has suffered from lackluster demand as investors focused on the Federal Reserve tightening interest rates, which started with a reduction in its monthly bond purchases in November. In dollar terms, COMEX gold gave (-1.52%) return in 2021 while in MCX, the returns were more disappointing at (-4.76%).
CMS Info Systems witnessed a flat listing on exchanges as shares opened mere 1.16% up from issue price at Rs 218.50 on Friday. CMS Info Systems, one of the largest cash management companies in India, is the last firm to list on the stock exchanges in 2021. The IPO of CMS Info Systems was subscribed 1.56 times till the last date of offer on 23 December, receiving a decent response from investors. The offer received bids for about 5.86 crore shares against 3,75,60,975 shares on offer, according to NSE data.
The markets have opened with a bang and are inching towards the hurdle of 17350. This is a crucial point and if we can close above this resistance level, the index will scale higher towards 17600. With a strong base at 16800, intraday dips can be utilized to accumulate long positions. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Barring Nifty IT index, all the sectoral indices were trading in the green. Bank Nifty index gained 0.8 per cent to 35,335
Stocks of NTPC, Tech Mahindra, Dr Reddy's, IndusInd Bank, Wipro, PowerGrid Corporation of India were among top index laggards
Titan Company, Axis Bank, Kotak Mahindra Bank, UltraTech Cement, Bharti Airtel, ICICI Bank, M&M, Reliance Industries Ltd (RIL) were among top BSE Sensex gainers
BSE Sensex surged 336 points or 0.58 per cent to 58,131, while Nifty 50 crossed 17300 level, gaining 98 points or 0.5 per cent on last day of calendar year 2021
BSE Sensex was trading flat with a positive bias at 57,848 in pre-opening session on Friday, last day of calendar year 2021.
On the technical front, the narrow range activity near the 200 day EMA clearly indicates a tug of war between the bulls and the bears. The index is facing critical resistance at 35422 levels which is the 200-day EMA. Banking Index needs a fresh breakout from the resistance point for first indication of bullish trend reversal. On the other hand, a failure to cross 35422 on a closing basis would keep the index in consolidation mode; In that case, the index can tumble back to 34350-33850 in the short term. For intraday traders 35050-35030 would be the key support level, Trading above the same, the index can move up to 35280-35400 levels. If Index trades below the said levels it may slide down towards 34680-34550 levels.
Aprajita Saxena, Research Analyst at Trustline Securities
On technical front, Nifty formed a Doji candle on the daily chart which suggests indecisiveness. At the current juncture, the index has been trading in falling channel formation. Crossing above the upper band can show an upside rally. Now index is heading towards its critical resistance point of 17,336 level which is the 50-day EMA This is acting as the key barrier & will continue to maintain pressure on the higher side going ahead. On the downside, 20-EMA of 17,180 will act as an immediate support level, For intraday traders 17170-17180 would be the key support level, trading above the same, the index can move up to 17270-17320 levels. If Index trades below the said levels it may slide down towards 17100-17035 levels. Aprajita Saxena, Research Analyst at Trustline Securities
Covid variants, sticky inflation, Fed lift-off of stimulus and raising rates faster than expected, China’s regulatory crackdown, China Taiwan issues, a run on emerging markets, hard Brexit, a fresh euro crisis, and rising food prices in a tinder-box the Middle East — are concern areas for the global economy and markets. Transition to 2022 will see a more normal monetary policy, and investors could do well to expect more moderate returns from financial markets. Central banks will start to raise rates but remain more tolerant of inflation. Central banks and their assessment of economic conditions will likely be front and centre once again in shaping investment strategies in 2022.
Dhiraj Relli, MD & CEO, HDFC Securities
Inflation continues to remain a key concern going ahead. Commodity prices (including crude oil) remain at high levels (post a small correction) due to supply disruptions and large demand to refill inventory levels. The US spend on Infra, social spend (once the $1.75 trillion bills are passed) could be a big demand driver across the globe. Globally households are sitting on trillions of dollars of excess savings, thanks to the pandemic stimulus, enforced frugality during the lockdown and high asset class returns across the board.
Dhiraj Relli, MD & CEO, HDFC Securities
2021 has been a year of recovery, rehabilitation, and establishing a base for future growth. 2022 will be a little more volatile but will still be very good for equity investors in India. 2022 is very likely to be another year of good double-digit returns and continued wealth creation. Autos, Banks, and Capital goods, literally the A B C of equity markets, will be the most interesting sectors for 2022.
Naveen Kulkarni, Chief Investment Officer, Axis Securities
Despite consistent growth in revenues, stable financial performance, and increasing margins, we saw a decline in FY21 which can be attributed to COVID-19. Also as the government focuses on digital payments, a further decrease in the use and availability of cash can have an adverse effect on business activities. The risk of market volatility also needs to be considered right now on the back of rising cases from the omicron variant. We suggest investors to 'avoid' CMS Info Systems stocks. The market volatility for the past few months and tepid last few listings might have added to this slow response. We expect the shares to list flat or at a discount of 10%.
Aayush Agrawal, Senior Analyst, Swastika Investmart
On the technical front, the Nifty 50 index has been trading in falling channel formation, crossing above the upper band of formation can show an upside rally in the counter. Moreover, the index has been trading above 21 & 50-HMA which suggests strength in the counter. A momentum indicator Stochastic & MACD is trading with a positive crossover on the daily time-frame. At present, the Index has support at 17000 levels while resistance comes at 17300 levels, crossing above the same can show 17400-17500 levels. On the other hand, Bank nifty has support at 34500 levels while resistance at 35500 levels.
Sachin Gupta, AVP — Research, Choice Broking
On the technical front, overall structure looks positive for Nifty 50 as it manages to sustain above 17200 level on a closing basis which is a positive sign for the index technically and we believe we can witness a 200-300 points rally from here in near term. 17000 and 17400 are immediate support and resistance in Nifty. For Bank Nifty, 34500 and 35500 are immediate support and resistance.
Mohit Nigam, Head – PMS, Hem Securities
Volatility and choppiness is likely to remain high in the coming session, so we maintain a cautious stance on the markets. Revival in the banking pack will be crucial for the markets. Meanwhile, global cues and upcoming domestic Auto sales numbers will be on radar. Besides, updates with regards to rise in Omicron cases in domestic as well as global markets will be key monitorable. Traders are expected to keep low leverage and hedged position.
Ajit Mishra, VP – Research, Religare Broking
Reliance New Energy Solar, a wholly owned subsidiary of Reliance Industries Ltd (RIL), has signed definitive agreements to acquire 100% shareholding in Faradion for an enterprise value of GBP 100 million. In addition, RNESL will also invest GBP 25 Mn as growth capital to accelerate commercial roll out
Markets are expected to remain sideways over next few sessions due to thin volume on account of holiday mood and lack of trigger. Investors are cautious and are on the sideline given uncertainty around severity of Omicron cases. Q3 results season and build up to the upcoming budget session would be key events that the market would be looking for in Jan 2022.
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
Nifty seems to have run into a resistance over the last two days after the recent run up. Advance decline ratio ended marginally in the negative. Nifty continues to remain in the 17286-17112 band with a mildly upward bias.
Deepak Jasani, Head of Retail Research, HDFC Securities
The short term trend of Nifty remains choppy. The lack of selling participation at the crucial overhead resistance could give chance for bulls to make a sharp come back from the lows in the near term. Hence, the said consolidation movement could continue for the short term. Immediate support is placed at 17120 levels.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Global stock markets reversed gains after a day-long rally on Thursday even as fresh U.S. economic data indicated that a recent uptick of Omicron COVID-19 variant-related infections has not yet led to a surge in layoffs, a positive sign for the economy.
Equities have had a good run in 2021, with benchmarks clocking their best performance in four years. This is despite the fact that foreign investors bought less shares in 2021 than they did in the previous two years. Markets hit new highs during the year, thanks to strong inflows from domestic investors, especially retail, which has cushioned the periodic withdrawals of foreign money. The net FPI year-to-date tally came off from $9.2 billion in November to $3.8 billion at the end of the year.
Wall Street closed lower on Thursday, retreating late in thin holiday volume from record highs set early in the session on strong U.S. data including a drop in weekly claims for U.S. unemployment benefits. The Dow Jones Industrial Average fell 90.55 points, or 0.25%, the S&P 500 lost 14.33 points, or 0.30%, and the Nasdaq Composite dropped 24.65 points, or 0.16%.
Asian peers were seen trading higher in early trade. Markets in Australia, Hong Kong and Singapore were set to close early on Friday for the last trading day of the year. While stock markets in Japan and South Korea were already done with trading for the year and were closed on Friday. The Hang Seng index in Hong Kong jumped 1.66%, while Singapore’s Straits Times index gained 0.32%.
Nifty futures were trading 104 points or 0.6 per cent up at 17309 on Singaporean Exchange in early trade