Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Indian equity markets snapped the two-day losing streak today and ended higher with Nifty above 17,300 led by buying across major sectors. At close, the Sensex was up 1,736.21 points or 3.08% at 58,142.05, and the Nifty was up 509.70 points or 3.03% at 17,352.50. All sectoral indices ended in the green led by auto, bank, realty, capital goods, PSU bank, IT and FMCG up 2-3 per cent. In broader markets, BSE midcap and smallcap indices rose 2 per cent each. Tata Motors, Eicher Motors, Bajaj Finance, Shree Cements and Hero MotoCorp were the top Nifty gainers, while Cipla and ONGC were the laggards.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 15 February
"We maintain our Dec’22 NIFTY50 target of 20200, valuing it at 22x FY24E earnings. We believe the present macroeconomic developments are leading to volatility in all major assets classes including equity, debt, and currency. We expect this increased volatility to hit small / mid-caps more than large-caps. We believe investors should utilize the expected increase in volatility to build positions in quality large-cap and midcap stocks as the earning expectations for Indian corporates remain strong."
~Neeraj Chadawar, Head - Quantitative Equity Research, Axis Securities.
"It was not just a relief rally today but a strong comeback by the bulls as they manage to defend 200-DMA. Nifty, Banknifty, Reliance, and many stocks respected their 200-DMA in today's trading session and witnessed a strong reversal. The reason for today's rally is easing tension between Russia and Ukraine while the market was oversold and frightened bears are the biggest bulls. We are in a range since October and the good part is that there is no breakdown despite relentless selling by FIIs whereas we have come down to the lower end of the range in recent fall, therefore, a strong pullback was expected."
"On the upside, 17450 is an immediate and important resistance level which is a cluster of 50 and 20-DMA while 100-DMA of 17630 will be the next hurdle. On the downside, 17100 should act as immediate and strong support now. Banknifty also respected its 200-DMA and manages to close above its 20-DMA of 38150. If it manages to trade above 38150 then we can expect a move towards the 39000-39500 zone. On the downside, 37500-37000 will act as a strong support zone."
~Santosh Meena, Head of Research, Swastika Investmart Ltd.
Indian equity markets broke the two-day losing streak today and ended higher with Nifty above 17,300 led by buying across the sectors. At close, the Sensex was up 1,736.21 points or 3.08% at 58,142.05, and the Nifty was up 509.70 points or 3.03% at 17,352.50. All sectoral indices ended in the green led by auto, bank, realty, capital goods, PSU bank, IT and FMCG up 2-3 per cent. BSE midcap and smallcap indices rose 2 per cent each. Tata Motors, Eicher Motors, Bajaj Finance, Shree Cements and Hero MotoCorp were the top Nifty gainers, while losers were Cipla and ONGC.
Bank Nifty soars 1,235 points or 3.35% to 38,143
SpiceJet share price bounced back sharply from its 52-week low of Rs 56.25, touched early in the day, as the low-cost airline reported a profitable December quarter 2021 after seven straight quarterly losses. The carrier posted a consolidated net profit of Rs 42.5 crore in the December quarter against a loss of Rs 66.7 crore in the year-ago period. The company's consolidated revenue was up 33.8 percent at Rs 2,263 crore from Rs 1,692 crore in the year-ago quarter.
"From the technical perspective, the NIFTY had ended just near the 200-DMA. Though it had dragged its resistance zone lower at 16900-17000, it was expected that any move above this zone will invite massive short-covering. On the external front, there are now reduced geopolitical tensions on the Russia Ukraine front; this has led to the NIFTY seeing massive short coveirng. On the upside, this pullback may find resistance at 17500."
"On broader terms, we can fairly say that the NIFTY has averted a breakdown by staying above het 200-DMA; it is now again in a defined trading range of 17000-17500."
~Milan Vaishnav, CMT, MSTA
Benchmark indices extended the gains and trading at day's high with Nifty above 17,300. The Sensex was up 1,630.70 points or 2.89% at 58,036.54, and the Nifty was up 476.40 points or 2.83% at 17,319.20.
Bulls dominated Dalal Street in late noon deals amid reports that some Russian forces on the Ukraine border were returning back to the military bases. The BSE Sensex surged over 1,550 points to quote around 57,950 level, while the NSE Nifty zoomed over 300 points to 17,181. Both the indices were up nearly 3 per cent each. In the broader markets, the BSE MidCap index was up 2 per cent and the BSE SmallCap index was up little over 1 per cent.
Retail inflation in Jan'22 hardened for the fourth successive month to 6%. The unfavourable base for food and pass-though of costs in some industries pushed inflation up. Although high at 6%, core inflation was stable. While fuel and transport inflation abated as international crude oil price rises have not been passed on since Nov’21, this may change soon. If inflation abates in H2 FY23, as expected by the RBI, monetary tightening in India would be lower than most peers. We reduce our rate-hike expectation in 2022 to 50bps, from 100bps. Inflation on upward trajectory. In Jan'22, India’s retail inflation touched 6%, the fourth successive rise and the highest since Jul’21. The inflation rate, however, was in line with consensus expectation. ~ Anand Rathi
Elon Musk, world’s richest person and the chief executive of Tesla Inc, donated Tesla shares worth $5.7 billion to a charity in November, securities filing with the US Securities and Exchange Commission showed. Musk donated a total of 5.04 million shares to an unnamed charity last year between November 19 and November 29. According to Bloomberg News, the $5.7 billion worth of charity, calculated by taking average prices of electric carmaker’s stock on the days he sold the stock, makes it one of the biggest in history.
The BSE Sensex touched a high of 57,338, and was up 890 points at 57,296. The NSE Nifty rallied 256 points to 17,099. FMCG majors - Nestle and HUL were the major gainers, up over 3 per cent each. Mahindra & Mahindra, Larsen & Toubro and Bharti Airtel gained around 2.5 per cent each. Titan, Infosys, Wipro, Tech Mahindra, Bajaj Finance, Asian Paints, Maruti, Reliance, Bajaj Finance and Kotak Bank were the other prominent gainers.
Shares of One 97 Communications, the parent company of Paytm, declined 2.77 per cent to a record low of Rs 840.05 on the BSE. After today's decline, the value of Vijay Shekhar Sharma’s stake in the company has fallen to less than $1 billion. The value of Sharma’s shares have eroded by over $1.5 billion since listing about three months ago. Sharma lost an average of about Rs 128 crore of stake value every day since listing. Paytm founder's stake in the company is currently valued at $998 million, down about $1.59 billion since listing. According to the Forbes billionaire list, Sharma’s wealth is currently at $1.3 billion.
Manyavar owner-Vedant Fashions IPO shares are likely to be listed on stock exchanges on Wednesday, 16 February 2022. The Rs 3,149 crore Vedant Fashions IPO was subscribed 2.57 times on the final day. In the grey market, Vedant Fashions shares were quoting at a premium of Rs 22 per share over the IPO price of Rs 866 apiece. Vedant Fashions shares were seen trading at Rs 888 apiece, a 2.5 per cent premium in the grey market, over the issue price, according to the people who deal in shares of unlisted companies.
Rossari Biotech shares tanked 20 per cent to hit a 52-week low of Rs 915 on the National Stock Exchange (NSE) today after the company reported weak operational performance in December quarter. The stock of the speciality chemicals has fallen below its previous low of Rs 906.65 touched on February 15, 2021.
Nifty Auto, FMCG indices were prominent gainers, up 1.7 per cent each, while IT index was the top performer, up 2 per cent. Nifty PSU Bank and Consumer Durables were the next top gainers. Nifty Metal, down 0.5 per cent, meanwhile, was the sole loser.
Benchmark indices strongly firmed up in noon deals and jumped 1.4 per cent. The BSE Sensex was now up 777 points at 57,183, while the NSE Nifty50 was at 17065, up 222 points. The up move came as Infosys, Reliance, HDFC Bank, L&T and HUL rose 1-2.6 per cent leading Sensex gains.
Zomato Ltd share price fell below the issue price for the first time since listing on Tuesday. The stock hit a low of Rs 75.75 on BSE, down 8% from its issue price. The share has been down for four consecutive sessions, falling around 20% in this period. The stock was listed on 23 July last year and its issue price was Rs 76. So far this year, it is plunged 45%. The stock hit an all time high of Rs 169.10 on BSE on 16 November and has declined over 55% since.
Mumbai-based Macleod Pharmaceuticals has filed draft papers with market regulator SEBI to list on NSE, BSE. According to the draft red herring prospectus (DRHP) of the vertically integrated Macleod Pharma, the initial public offer will consist purely of an offer for sale or OFS.
"Vedant Fashions is among the top companies in the Indian wedding and celebration wear segment with the brand name Manyavar Mohey. The company's financials suffered a setback due to the pandemic but returned to normal in the first half of FY22. The issue is valued at P/E 161(x) to its FY21 earnings and P/BV of 24.42(x) which seems to be overpriced. Also, the IPO proceeds are purely an offer for sale and the company will not get benefit from such proceeds. This is the reason the company received a tepid response from the investors getting subscriptions of 2.57 times whereas its retail portion was subscribed only 0.39 times. The company’s grey market share price is at par with the upper price band. The ongoing global scenarios will continue to impact the Indian market and hence the shares are expected to list below its issue price."
~Aayush Agrawal, Senior Analyst, Swastika Investmart Ltd.
All broader Nifty indices were in green, led by gains in Nifty 100, up 1 per cent. The volatility index had cooled off by 6 per cent.
Benchmark indices Sensex and Nifty strongly firmed up in noon deals and jumped 1.4 per cent. The BSE Sensex was up 777 points at 57,183, while the NSE Nifty 50 was at 17065, up 222 points.
"Although yesterday’s sell-off was unexpected for us, we must accept the fact that charts look distorted, and hence, the possibility of extended correction is very much on cards. As far as levels are concerned, below 16800 there is no major support visible before December month low 16400, while on the flip side, the unfilled gap around 17100-17300 should serve as the potential resistance for the bulls. Even the volatility index India VIX has spiked up by 23 percent, indicating a rise in uncertainty in the market."
~Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One
The gains in Sensex were being led by Infosys, Reliance, HDFC Bank, HUL and L&T, up 0.6-1.7 per cent. On the Nifty, HeroMoto Corp and Eicher Motors were the top gainers now, higher by over 2 per cent. Eicher Motors had staged a smart recovery and was up by Rs 131 on the BSE from its day's low.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices climbed to a 12-month high in India on Tuesday, as geopolitical tensions increased safe-haven appeal. Gold prices were last seen at current levels in January 2021. On Multi Commodity Exchange, gold April futures surged Rs 327 or 0.7 per cent to Rs 50,243 per 10 grams, as against the previous close of Rs 49,916. Silver March futures were ruling at Rs 64562, up Rs 329 or 0.51 per cent.
Nifty Metals was the top loser dropping 1.6 per cent, Nifty Bank, Financials, Auto, Realty and Pharma also slipped into the negative zone, trading 0.3-0.9 per cent lower. Nifty IT, too, pared gains and was now up 0.6 per cent only.
HUL, Titan, Wipro, Nestle India, Tech Mahindra, Infosys, Kotak Bank, L&T, TCS and HCL Tech were leading gains on the Sensex, up between 0.7-1.7 per cent. Tata Steel, NTPC, IndusInd Bank, ICICI Bank, Axis Bank and Cipla were the top losers on the Sensex and Nifty.
Life Insurance Corporation (LIC) has received the IRDAI’s nod for time till January-end 2023 to dispose of investments in pension, group and life annuity funds, which do not fall in the “approved investment” category. Had the regulator denied more time to transfer the investments to shareholders’ fund at amortised cost, the loss that would have accrued in the profit and loss account (shareholders account) would have been Rs 5,365.83 crore as of September 2021, LIC said in its draft red herring prospectus (DRHP).
Gold prices climbed to an eight-month high on Tuesday, as heightened tensions between Russia and the West over Ukraine prompted investors to shun riskier assets and opt for safe-haven bullion. Spot gold was up 0.3% at $1,876.71 per ounce, after hitting its highest level since June 11 at $1,878.88 earlier in the day. US gold futures rose 0.5% to $1,879.00.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices continue to remain unchanged for over 100 days in a row on Tuesday, 15 February 2022 with oil marketing companies (OMC) keeping prices steady. Today, petrol in Delhi retails at Rs 95.41 per litre while diesel in the city is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel cost Rs 109.98 and Rs 94.14, respectively. Fuel prices have been stable since the central government cut excise duty to bring down retail rates from record highs in November last year.
"Rupee opening around 75.62 with a range of 75.35 to 75.85. FOMC minutes to be released on 16th. The Ukraine War still not over with Russia informing Ukraine that they will attack on 16th. Oil higher and US yields higher and Dollar index is also higher. All negative for rupee. Exporters may continue selling above 75.75 and importers may wait for geo-politics to settle down before hedging."
~Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors