Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 were in the firm grip of bulls on Monday, zooming higher. S&P BSE Sensex ended 1,041 points or 1.90% higher 55,925 while NSE Nifty 50 index zoomed 1.89% or 308 points to settle at 16,661. Bank Nifty ended 0.60% higher while India VIX crashed 7% to end the day just shy of 20 levels. Titan was the top stock gainer on Sensex, up 4.94%, followed by M&M, and Infosys. Kotak Mahindra bank was the top laggard, accompanied by Sun Pharma, and Dr Reddy’s.
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Sensex ends 1,041 points or 1.9% higher at 55,925 while NSE Nifty 50 zoomed to close at 16,661.
Titan Company, often touted as Rakesh Jhunjhunwala's favourite stock, was up 5% with minutes left before the closing bell.
Bitcoin price moved up by over 5 per cent in the last 24 hours, trading at $30,618 at the time of writing, according to data on CoinMarketCap. Bitcoin price has remained in the range of $28,000-$31,000 for last many days. There is at least one negative trend that may be a big cause of worry for Bitcoin supporters amid current crypto market gloom.
Sensex stocks that were in the red on Monday included Kotak Mahindra Bank, down 2.5%, followed by Sun Pharma, Dr Reddy's, ITC, and Asian Paints.
BSE Sensex and NSE Nifty 50 jumped over 2 per cent intra day on Monday riding on a firm global momentum. BSE Sensex hit a day’s high of 56,082.65, and Nifty 50 rose to 16,695.50. In today’s trading session, both domestic and global markets witnessed a sharp bounce back. Index heavyweights such as Reliance Industries Ltd (RIL), Infosys, Tata Consultancy Services (TCS), Housing Development Finance Corporation (HDFC), and L&T, among others contributed the most to the indices’ gain on Monday. India VIX, Nifty’s volatility index, which indicates the degree of volatility traders expect over the next 30 days in the Nifty 50 index, was down 6.23 per cent to 20.14 levels. Read full story
BSE Sensex and NSE Nifty 50 soared over 2 per cent on Monday on the back of firm global momentum. BSE Sensex hit a day’s high of 56,082.65, and Nifty 50 rose to 16,695.50. So far in the day, Mahindra & Mahindra stock price hit a fresh 52-week high of Rs 1,006.70 apiece, surpassing its previous high of Rs 978.90. While no stock on S&P BSE Sensex hit a fresh 52-week low. Read full story
The ongoing geopolitical conflict in Europe has imparted strong shocks that have the ability to cause a global economic slowdown and, simultaneously, keep inflation elevated. Negative externalities are already rippling through financial and commodity markets, the international trade and financial systems, supply chains and the global geopolitical order. Combined with tightening financial conditions to tackle elevated inflation levels, emerging market and developing economies (EMDEs) are likely to bear the brunt of the consequences. Kotak Institutional Equities
Weeks after initiating the coverage of FSN E-commerce Ventures, the parent company of Nykaa, ICICI Securities has revised the target price for the internet beauty and personal care (BPC) firm. The upward revision in Nykaa’s share price target comes days after the company reported its January-March quarter earnings. The target price is now set at Rs 1,300 per share, up from Rs 1,250 apiece earlier. “Nykaa’s Q4FY22 revenue performance was in line with our estimate. We like the higher investments in growing new businesses with resilient BPC margins,” ICICI Securities said in a report. The brokerage firm has, however, retained the ‘Hold’ rating on the scrip.
Going ahead, a decisive close above upper band of consolidation placed at 16400 in Nifty would provide directional bias, leading acceleration of upward momentum towards 16800 in coming weeks. Thus, any dip towards 16100-16000 should be used to accumulate quality stocks as we expect buy dips strategy would continue to fare well. Further, cool off in VIX along with broad based participation would be key monitorables that should support sustainable recovery in the market. ICICI direct
Sensex was up more than 952 points while Nifty 50 was up above 16,600 on Monday morning. Bank Nifty was closing in on 36,000 mark.
The 16400 wall that had turned down at least three bold upside attempts in the last 30 days, still stands firm, but will be facing one of the strongest challenges shortly, as the event risks in the coming fortnight hold an element of positive surprise as well. The argument that Nifty’s bounce is off just the 23% fibo of the 2020 rally, loses its voice when compared with S&P500’s turn higher from the 62% fibo, bouncing over 7%, and with more room for upside before mean reversion challenges surface. This encourages us to stick with a 16750 move initiated last week, even though the default approach would be to expect rejection trades at 16415. The downside risk level identified as 16084 last Friday will be moved higher to 16186/51region. In fact, there is no doubt that Nifty is poised for a gigantic move shortly. Being at the upper extremity of a month old parallel consolidation range, downsides have a 1400 point potential, as opposed to 700 point potential for upsides, as a measure of the range and the side that Nifty would be coming out of. That said, the fortnight ahead will be one for the risk takers.
~ Anand James – Chief Market Strategist at Geojit Financial Services
All the Nifty sectoral indices were trading in the green, with Nifty IT leading the pack, up 2.6 per cent. Nifty Bank index was up 1.2 per cent, Nifty Auto 1.8 per cent, Nifty FMCG 0.9 per cent
Infosys, Mahindra & Mahindra, Wipro, HCL Tech, Tata Consultancy Services (TCS), UltraTech Cements, HDFC, Reliance Industries Ltd were top Sensex gainers.
BSE Sensex soars over 650 points or 1.2 per cent to trade at 55,527, while NSE Nifty 50 index rallied 187 points or 1.1 per cent to rule at 16,540
BSE Sensex jumped 525 points to 55,411, while NSE Nifty 50 index rallied 230 points to rule at 16,584 in pre-opening session
On the technical front 16,200 and 16600 are immediate support and resistance in Nifty 50. For Bank Nifty 35200 and 36000 are immediate support and resistance respectively. Mohit Nigam, Head – PMS, Hem Securities
Commodity prices traded higher with most of the commodities in non-agro segment traded positive for the second week. Bullion prices traded higher on weak global cues on safe-haven buying. Crude oil prices gained by nearly 2% over tight supplies and strong demand ahead of the summer season. Base metals traded firm on demand growth prospectus despite of fall in equity indices.
RBI FX reserves rose by $4.2bn to $597.5bn for the first time after 9 consecutive weeks of fall. The reason could be RBI's maturity of its long forward position and the revaluation of reserve currencies. RBI's FX reserves of $600 bn are crucial to combat the sharp fall in the currency amid the likely continued fight against the rising inflation, higher oil prices, and FII outflows. In the past few days, the Indian rupee was trading in a narrow range despite other EM currencies were on an appreciating mode. This indicates that the Rupee should have a stronger move towards 77.10 and 76.80 over the short term. Amit Pabari, managing director, CR Forex Advisors
Key local benchmark indices are likely to extend gains in early Monday trades mirroring recovery in other Asian gauges following a sharp rally in the US markets on Friday. Benchmark Nifty has room to run further and could reclaim its psychological 17000 mark. However, the said ‘relief rally’ is unlikely to last long amid the risk of recession fears and the rising inflation levels across the globe. Technically speaking, bears may turn bulls if Nifty closes above its biggest hurdles at 16657 mark. The FII camp continues to be the biggest negative catalyst for Dalal Street. FIIs have sold shares worth Rs. 53,791 crores in the month of May and most importantly, have pulled out to the tune of Rs. 221,000 crores from the Indian markets in the first 5 months of 2022. Prashanth Tapse, Vice President (Research), Mehta Equities
Markets back into grip of bulls. Nifty closed at 16352 and Sensex closed at 54884 both ending well on the weekly close after long time. India VIX also cooled off to 21.48 which gives confidence to the bulls to party. The sectoral indices traded mixed wherein banks and auto led the charge and rose over 3 per cent each. On the flip side, metal, pharma and realty ended with losses. The broader markets, despite a decent show in the second half, closed in the red wherein midcap ended lower by 0.8 per cent and smallcap by 3.4 per cent. On other hand FIIs continued to dump Indian equites, so far this month they have pulled out close to 53790 crore. Though the speed of selling has been cooled off in last week.
In the recent corrective phase, Nifty has resisted around its ‘20 day-EMA’ on pullback moves and it has ended marginally above that average on Friday. Looking at the other sectoral indices, we expect the index to continue its pullback in the coming week as well and thus we could see some larger retracement of the previous correction. The initial retracement resistance will be seen around 16550 which we expect to get tested soon. Above that, the 61.8% retracement which coincides with 200-DEMA is around 16750. On the flipside, 16200 followed by 15900 will now act as support on any declines. Traders are advised to trade with a positive bias this week and look for stock specific approaches where we could see good opportunities. Ruchit Jain, Lead Research, 5paisa.com
Market expects another 50bps hike by FED and 35bps by RBI. If the tone of future monetary policy is moderate than anticipated, it will have a positive effect in the short to medium-term while a more hawkish stance will reduce the shelf life of the trend. Vinod Nair, Head of Research at Geojit Financial Services
RBI’s surplus transferred to the government at Rs 303bn was lower than what is pencilled in the Union Budget. The lower-than-expected dividend was due to higher provisioning and interest cost on LAF operations. The higher provisioning was on account of revaluation loss on foreign securities. On the income front, key support was interest earnings on rupee securities and FX sales. RBI balance sheet size increased by 8.5% in FY22, led by increase in foreign currency assets and rupee securities.
For the week, we expect Nifty to trade in the range of 16600-16000 with a positive bias. The weekly strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. The chart pattern suggests that if Bank Nifty crosses and sustains above 35700 level it would witness buying which would lead the index towards 36000-36500 levels. However if the index breaks below 35300 level it would witness selling which would take the index towards 34800-34000. Read full story
For the second consecutive week Nifty weekly candle closed in green and has formed a bullish hammer candle sick pattern on the weekly time frame. We have seen a strong reversal from the 15900 levels when prices reached near the lower band of the flag pattern and then prices reverse sharply and have almost given a breakout on the daily chart.
Ethos’ Rs 472-crore IPO, which was subscribed 1.04 times, will be making stock market debut on Monday, 30 May 2022. The issue had received bids for 41.39 lakh shares against the 39.78 lakh shares on offer, and was sold at a price band of Rs 836-878 apiece.
Nifty futures were ruling at 16,469, up 132 points or 0.8 per cent, on Singaporean Exchange.
Asian stocks followed Wall Street higher on Monday while the dollar was pinned near five-week lows as investors wagered on an eventual slowdown in US monetary tightening, albeit after sharp hikes in June and July. Helping to mellow the mood was news that Shanghai authorities will cancel many conditions for businesses to resume work from Wednesday, easing a city-wide lockdown that began two months ago.
Sensex and Nifty enter this week’s trading session after having closed with gains during the previous one while battling heightened volatility. S&P BSE Sensex is at 54,884 up 1% last week while NSE Nifty 50 is currently at 16,352, up 0.5%. India VIX, the volatility index fell 7% during the previous week and is now at 21.48 levels. Entering the new week, SGX Nifty was up more than 100 points, suggesting a gap-up start to the day’s trade. Global cues were positive after Wall Street equity markets ended with gains on Friday. Asian stock markets were seen moving higher. Here are some stock to watch out for today