Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Wednesday’s session in the red. The NSE Nifty 50 tumbled 62.60 points or 0.34% to 18,285.40 and BSE Sensex slipped 208.01 points or 0.34% to 61,773.78. In sectoral indices, Bank Nifty tanked 276.60 points or 0.63% to 43,677.85 while Nifty Pharma jumped 126.25 points or 1.03% to 12,440.45. The top gainers on Nifty 50 were Sun Pharma, Dr Reddy, ITC, IndusInd Bank and Titan while the losers were Adani Enterprises, Adani Ports, Tata Motors, HDFC Bank and ICICI Bank.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Benchmark indices ended the pre-opening session in the red. The NSE Nifty 50 fell 53.20 or 0.29% to 18,294.80 and BSE Sensex tumbled 147.51 points or 0.24% to 61,834.28.
“Bank Nifty found immediate support at 43500 and faced resistance at 44100, highlighting key levels to watch. A break above or below this range could trigger significant directional moves in the market. Traders and investors should closely monitor the index for a potential shift in momentum,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
“Bank Nifty still is trading in a narrow range of 43446-44095. Unless these levels are taken out, Bank Nifty is directionless. Also, Private Banking stocks witnessed some profit booking from higher levels as well,” said Om Mehra, Equity Research Analyst at Choice Broking.
Bank Nifty first support at 43871 and then 43798 while resistance at 44049 and then 44154, according to Rahul Sharma, JM Financial.
“Caution becomes the buzzword, with attention focused on key support at the 18211 mark and formidable hurdles at 18501. Keep a watchful eye, as the near term remains uncertain,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
“We believe that the Nifty is in a consolidation mode and the range of consolidation is likely to be 18000–18400. In terms of levels, 18420–18450 shall act as the immediate hurdle while 18170–18150 is the crucial support zone to watch out for on the downside,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP.
“A breakthrough at 18450-18500 would ignite a fresh wave of positive momentum in the market. Until then, traders are advised to buy on dips and book profits at higher levels. In terms of support levels, 18200 is the immediate support, while a stronger support zone exists between 18050-18100 levels,” said Rajesh Bhosale, Technical Analyst at Angel One Ltd.
“Currently, 18300 would serve as a key support level for traders. Above that point, the sentiment will probably stay favourable. Above that point, the index may rise as high as 18450–18500. On the other hand, selling pressure is likely to increase below 18300. The nifty could decline until 18200–18175 below the same,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
Nifty first support at 18328 and then 18297 while resistance at 18409 and then 18460, according to Rahul Sharma, JM Financial.
The National Stock Exchange has Delta Corp and Indiabulls Housing Finance securities on its F&O ban list for 24 May. 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) bought shares worth net Rs 182.51 crore, while domestic institutional investors (DII) purchased shares worth net Rs 397.29 crore on May 23, according to the provisional data available on the NSE.
Oil prices gained on Wednesday after U.S. oil and fuel supplies tightened and as a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts.
The US market ended the overnight session deeply in red – Dow Jones Industrial Average (DJIA) fell 0.69%, S&P 500 tumbled 1.12% and the tech-heavy Nasdaq plunged 1.26%.
Asian markets were trading in red – Japan’s Nikkei 225 tanked 1.10%, Hong Kong’s Hang Seng fell 0.74%, China’s Shanghai Composite index plunged 0.80% and South Korea’s KOSPI dipped 0.20%.
The Nifty futures on the Singapore Exchange (SGX) were trading 70 points or 0.38% lower at 18,291.5 in today’s early morning trade.