Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended lower for the second straight on Thursday, a day of weekly F&O expiry, which also happens to be current month’s derivative expiry. BSE Sensex fell 12.17 points to end at 57,794.32, while the Nifty 50 index also ended flat at 17,203 with a negative bias. NTPC, HCL Tech, IndusInd Bank, Titan Company, Wipro, Dr Reddy’s Laboratories, TCS, Hindustan Unilever Ltd, Bharti Airtel were among top index gainers. While Reliance Industries Ltd (RIL) was the top drag, followed by Tata Steel, Maruti Suzuki, Bajaj Finance, Sun Pharma, State Bank of India (SBI), ITC. Nifty sectoral indices ended on a mixed note. Bank Nifty finished trade at 35,063.60, up 0.05 per cent.
BSE Sensex fell 12.17 points to end at 57,794.32, while the Nifty 50 index also ended flat at 17,203 with a negative bias
RBL Bank shares plunged 10% on Thursday to hit a fresh 52-week low after reports surfaced that the bank wrote-off loans worth Rs 300 crore within seven months of the loans being sanctioned. At 2:30, the stock was trading at Rs 132.70, down Rs 11.60, or 8.04 percent. It touched a 52-week low of Rs 130.50 earlier in the day. Today’s price crash comes after a media report claimed that the main reason for RBI’s sudden intervention in RBL Bank was a Rs 300-crore loan that was written off within seven months of being sanctioned. So far this week, RBL Bank shares have tanked about 26 percent.
Indian equity markets had a stellar run this year with Nifty up around 22%. Nifty Midcap 100 and Nifty Smallcap 100 sharply outperformed with gains of around 43% and 53% respectively. Indian equity markets are likely to extend gains in 2022 as well on account of continuation of economic recovery and strong earnings growth. Going by the history of three decades, the ongoing bull market may extend for the next few years with multifold gains.
Tech Mahindra stock rallied to fresh 52-week high of Rs 1,825.65, breaking previous record of Rs 1,822, hit on Tuesday (28 December). Apollo Micro Systems Ltd, Cybertech Systems, Escorts Ltd, ICICI Prudential IT ETF, Metropolis Healthcare, Radico Khaitan, Schaeffler India, and Tips Industries were among the scrips that touched 52-week high on BSE today. On the other hand, RBL Bank, Lumax Industries, Mirae Asset Hang Seng TECH ETF, MAS Financial Services Ltd, Shyamkamal Investments Ltd, Srestha Finvest Ltd were among scrips that touched 52-week low.
Domestic equity market benchmark indices are ending the calendar year 2021, down 8% from their all-time highs. While Dalal Street has seen a double-digit correction recently, the benchmark Nifty 50 is trading at close to 21x Fwd. PE, which is still expensive said Amit Premchandani, Senior Vice President & Fund Manager – Equity, UTI Mutual Fund in an interview with Kshitij Bhargava of Financial Express Online. He further shares his outlook for 2022 and suggested what investors should do after the recent correction to make the most of their investments in the new year.
Since March 2020, Indian equity markets have been in an unbelievable bull run with only a mild correction seen in the last fortnight. Small and Midcaps have clearly outperformed the Large caps with a booming IPO market also in place. We believe 2022 will be, however, tough & volatile for retail investors with the post-Covid economies of the world looks bleak. High inflation, increasing interest rates, Fed taper & sky-high earnings expectations might take a toll on global equities including India. Technically, we believe Nifty to be in the range of 14450-19820 in 2022. Nifty Bank could be in the range of 31160-45300 in 2022.
Pavitraa Shetty, Co-founder & Trainer, Tips2Trades
A large untapped market, favourable demographics, rising financial literacy, increasing smartphones and low-cost internet penetration will continue to boost equity participation. The brokerage industry will see further consolidation as smaller brokers will gradually cede market share to more established entities. And as a homegrown startup, we will continue to participate in Bharat’s growth story by leveraging tech innovations to make equity participation more inclusive and accessible.
Ravi Kumar, Co-Founder & CEO, Upstox
Sensex was above 57,900 on Thursday morning as the index gained nearly 100 points, Nifty 50 was above 17,200.
Stocks to buy 2022: Consumer durable firms saw their margins improve in 2021 despite a sharp rise in input material costs and supply chain disruptions. In the coming year, analysts at ICICI Securities foresee flat margins on-year basis but believe new categories such as trimmers, hairdryers, and dishwashers would likely drive strong volume growth. “Due to strong operating leverages, we expect most companies to report PAT growth higher than revenue growth,” they added. The brokerage firm has pinned a ‘buy’ rating on Havells India and an ‘Add’ rating on Crompton Greaves and Whirlpool of India.
The domestic indices will have a final expiry day today and are likely to trade slightly on a positive note as US indices have tested record highs yesterday. This could be positive for the Indian Rupee. Amid higher oil prices, global yields are soaring again. The US 2-10 year yield curve further flattened to multi-month levels and that could be a positive sign for the US dollar index. Post-holiday period, we could see traders again betting for stronger US dollar on Fed rate hike and could pressurize on the Rupee. But till that time, movement will be guided RBI’s action against excess liquidity. Overall, we are expecting the USDINR pair to trade in the range of 74.20 to 75.50 with a downside bias.
Amit Pabari, managing director, CR Forex Advisors
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading weak in India on Thursday, as the global rates remained unchanged. On the Multi Commodity Exchange, gold February futures were trading at Rs 47,730 per 10 gram, down Rs 109 or 0.23 per cent, as against the previous close of Rs 47,839. Silver March futures were also ruling weak at Rs 61,552 per kg, down Rs 286 or 0.5 per cent. In the previous session, silver futures ended at Rs 61,838 per kg.
NSE sectoral indices were trading mostly lower. Bank Nifty was down 0.32 per cent to trade below the crucial 35,000-mark. While Nifty IT was up 0.4 per cent
Bajaj Finserv, Sun Pharma, Bajaj Finance, ICICI Bank, Axis Bank, Kotak Mahindra Bank, RIL index laggards
Tata Steel, Wipro, Maruti Suzuki, Bharti Airtel, Tech Mahindra, Titan Company, ITC were Sensex top gainers
BSE Sensex was trading in red around 57780, while Nifty 50 index gave up 17200
Nifty Put options OI distribution shows that 17,000 has highest OI concentration followed by 16,900 & 17,100 which may act as support for current expiry and on the Call front 17,500 followed by 17,300 & 17,200 witnessed significant OI concentration and may act as resistance for current expiry.
The Nifty 50 index opened flattish on Wednesday and consolidated in a range throughout the day. It respected its previous day’s low levels but could not hold above 17250 zones and closed near its opening levels. It formed a Doji sort of candle on daily scale and has been forming higher highs – higher lows from the last two sessions.
Bears made a comeback on Dalal Street as Indian equity benchmarks snapped a two-day winning streak to end Wednesday’s choppy session mildly lower, ahead of the expiry of December futures and options contracts. Gains in pharma and auto stocks was offset by financial and IT counters. However, the broader markets outperformed the benchmark indices with Nifty Midcap 100 and Smallcap 100 indices gaining 0.13 percent and 0.59 percent respectively. Indian equity markets are likely to open in green amid positive global cues. Key things to know before market opening bell.
Over the last few weeks, the Nifty has been in correction mode. The downtrend was confirmed when the support of 17613 was broken. On the daily chart, we see that the Nifty remains in a downtrend despite the bounces seen recently. The index continues to make lower tops and lower bottoms for the last few weeks, barring the recent brief move above the swing high of 17490. The 20 day SMA also continues to trade below 50-day SMA, indicating a negative moving average crossover. Weekly momentum readings like the 14-week RSI are in decline mode.
Domestic stock markets brought their two-day gaining streak to a screeching halt on Wednesday as both Sensex and Nifty closed in the red. S&P BSE Sensex settled at 57,806, down 90 points or 0.16% while the 50-stock NSE Nifty ended at 17,213, falling 19 points or 0.11%. “The scheduled monthly expiry of December month derivatives contracts would keep the volatility high. The banking pack is still struggling and its performance would be critical for the next directional move,” said Ajit Mishra, VP – Research, Religare Broking. He added that investors will keep an eye on rising covid cases and suggested a “stock-specific trading approach”.
Foreign capital flows have ebbed in the current calendar year after a bumper $23-billion inflows in 2020. While net inflows remained in positive territory in 2021, it’s been the second worst year after 2018 for Indian equities as far as foreign portfolio investments are concerned. Overall net inflows into equities during the calendar year dropped to $3.9 billion, as investors pulled out $3.8 billion in the second half of the year.
It is supposedly market-driven pricing, but over the last around nine weeks, state-run oil marketing companies (OMCs) haven’t let the decline in crude oil prices benefit consumers. Instead, these firms have just made higher margins on the sales of auto fuels.
The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on December 31 and discuss, among other things, report of the panel of state ministers on rate rationalisation.
Though the economy has steadily gained momentum and remained resilient since the second quarter of the current fiscal, the Omicron variant of coronavirus remains the major challenge along with rising inflation pressures, says the Reserve Bank in its second financial stability report.
The Dow and S&P 500 closed at all-time highs on Wednesday on a boost from retailers including Walgreens and Nike, as investors shrugged off concerns on the spreading Omicron variant.
Asian stock markets were mostly higher in early trade following the overnight gains on Wall Street. Hong Kong’s Hang Seng index advanced nearly half a per cent. Japan’s Nikkei fell 0.12% while the Topix index hovered above the flatline.
Nifty futures were trading 26.50 points or 0.15 per cent up at 17,240 on Singaporean Exchange in the early trade.