Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices opened green, however the indices fell half a percent. While BSE Sensex sank 254 pts to 60,812, NSE Nifty 50 ended at 0.4% lower at 18,113. Bank Nifty settled in red, below the 42,500 mark. Majority of Sensex stocks closed in the red, with Bajaj Finserv, M&M, IndusInd Bank and Tata Motors losing the most in trade. In the broader markets, all indices closed in red; NSE Microcap 250 lost the most, shedding 2.45%. All sectoral indices ended lower, barring Nifty IT which ended flat in trade. Nifty PSU Bank and Nifty Auto lost 1.23% and 1.11% respectively.
“Bears dominated for the second day in a row as rising Covid-19 cases in China weighed on sentiment. Nifty traded with a negative bias as market participants await the Q3 GDP revision from the US and the weekly US Jobless Claims data. The negative takeaway was that the Indian benchmark indices dropped despite no headlines of doom and gloom. It appears the return of risk for benchmark Nifty with immediate downside risk at 18057 mark and below the same expect a waterfall of selling till 17957 mark and then at 17750 zone.”
Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities
“The yellow metal has gained marginally (0.5-1%) this calendar year in dollar terms. It has gained over 11% in rupee terms. The attractiveness of gold is high in a low-interest rate regime. Gold has started giving up gains since the US Fed and other major central banks started hiking rates in May 2022. The rising rates, hawkish comments, and withdrawal of easy liquidity reduced the investment appeal of gold.
We expect gold prices to trade sideways till H1CY23. Festive demand and global central banks pausing their rate-tightening policy will push demand for gold in H2CY23. A pause in the rate hike cycle will lead to softening of the USD, thereby making it cheaper to buy gold and silver. Gold is an international commodity and is mostly traded in USD. So the USD trajectory impacts the prices of these precious metals. Expect gold to trade in the range of $1900-1975 in CY23, Rs 55,000-57,000 in INR terms.”
– Colin Shah, MD, Kama Jewelry
Sun Pharma, SBI Life, UltraTech Cement, Grasim and Asian Paints were the top gainers on Nifty 50, while UPL, M&M, Bajaj Finserv, Eicher Motors and IndusInd Bank were the top losers, with UPL closing 3.5% lower.
BSE Sensex sank 254 pts to 60,812, NSE Nifty 50 ended at 0.4% lower at 18,113. Bank Nifty settled in red, below the 42,500 mark.
Nifty Auto tanks 1.12% intraday; constituents M&M, Eicher Motors and Tata Motors are the top laggards.
Taiwanese and South Korean stock markets ended Thursday’s session in green following mixed sentiment in global markets. FTSE TWSE Taiwan 50 Index rose 170.7 points or 1.66% to 11,024.39 and KOSPI Composite Index climbed 27.78 points or 1.19% to 2,356.73.
The Nikkei share average ended the day up 0.46% at 26,507.87, after dropping as low as 26,269.80 in the previous session for the first time since Oct. 13. Share of Toshiba ended 4.25% higher and touched an intraday high of 7.61% after local media reported that the company's preferred bidder, Japan Industrial Partners (JIP), is set to seal a $10.6 billion loan this week.
Bandhan bank shares fell over 6% to Rs 228.40 after it received a binding bid of Rs 801 crore from an Asset Reconstruction Company (ARC) for its written-off portfolio. The bank received the offer on a security receipts consideration basis, for the written-off portfolio with an outstanding of Rs 8,897 crore.
In the sectoral indices, Nifty bank fell 0.45%. All its constituents except Kotak Bank and HDFC Bank were trading in red.
Tata Communications shares were trading 1.08% down at Rs 1256.00 after the company on Thursday informed that its wholly owned international subsidiary Tata Communications (Netherlands) is set to acquire US-based Switch Enterprises for Rs 486 crore.
Sula Vineyards shares debuted at a meagre premium of Re 1 at Rs 358 on BSE. A few minutes after listing, the stock fell over Rs 14 to a low of Rs 339.
For weekly Bank Nifty, Maximum Put OI is at 42000 then 42500 strike and maximum Call OI is placed at 43500 then 44500 strike. We have seen significant Call writing in 43500 while minor Put writing is witnessed at 42000 with major unwinding at 43000 strike. Now till it holds below 43000 zones, weakness could be seen towards 42250 and 42000 zones whereas hurdles are placed at 43000 and 43339 zones.
Sensex is up 117.04 points or 0.19% at 61184.28, and the Nifty added 32.70 points or 0.18% at 18231.80.
Shares of Triveni Turbine and Triveni Engineering & Industries dipped up to 6% on the BSE in Thursday’s intra-day trade after these stock turned ex-date for share buyback. Triveni Turbine slipped 6% to Rs 269, while Triveni Engineering was down 4.8 per cent at Rs 279.15 on the BSE in intra-day trades. In comparison, the S&P BSE Sensex was flat at 61,065.
All sectors are trading in the green led by IT and realty. BSE midcap and smallcap indices are up 0.5% each.
Frontline indices opened with gains amid positive global cues. While BSE Sensex rose over 200 pts to 61,299.90 and NSE Nifty 50 was trading 0.5% higher at 18,290.00.
Positive: Apollo Hospitals, Aurobindo Pharma, Cipla, HCL Technologies, TCS, Thyrocare
Negative: Apollo Tyres, Bajaj Finance, GAIL, IndiaBulls Housing Finance, GAIL, MGL, Info Edge, TVS Motor Company
Indian benchmark indices traded higher in the pre-open session, hinting at a positive start for Indian equities. BSE Sensex rose 189.93 pts to 0.31% to 61,257.17, while NSE Nifty 50 rose 89.70 pts or 0.49 % to 18,288.80.
“BankNifty broke the strong support area near 43000 during the intraday session and witnessed a steep slide to touch 42360 levels, with both the indices indicating a “Bearish Engulfing Candle” to suggest a weak bias in the coming days. BankNifty would have a daily range of 42100–43000 levels.”-Prabhudas Lilladher
“After opening with a gap up near the 18450 zone, the Nifty slid down heavily with profit booking seen and intensified as the day progressed to close near the 18200 zone, with sentiment turning weak as concerns about rising COVID cases escalated.The support for the day is seen at 18050, while the resistance is seen at 18350.”-Prabhudas Lilladher
“Benchmark indices are expected to open on a positive note as suggested by early trends on SGX Nifty. On the technical front, the key resistance level for nifty50 is 18400 followed by 18460 and on the downside 18160 followed by 18080 can act as strong support. Key resistance and support levels for bank nifty are 43300 and 42400 respectively.”-Mohit Nigam, Fund Manager & Head – PMS, Hem Securities
The Indian Rupee opened at 82.80 per dollar, down 1 paise from Wednesday’s close of 82.81 per dollar.
The Indian Rupee is likely to depreciate on Thursday mainly on the back of a surge in crude oil prices. Oil prices rallied after data showed larger than expected draw in US crude stockpiles. Meanwhile, weakness in dollar and optimistic global markets sentiments may prevent a sharp fall in the local currency. Additionally, RBI’s monetary policy meeting minute showed governor Das believed rate hikes should continue in India. “US$INR (December) is holding strong support near 82.60 level. As long as it sustains above this level rupee may slip back to 83.00 level,” said ICICIdirect. In the previous session, rupee declined 10 paise to settle at 82.80 (provisional) against the US dollar as a massive sell-off in domestic equities and risk aversion in global markets dented investor sentiment.
“Markets are likely to see a positive opening in early Thursday trades thanks to a sharp rally in the overnight US indices, which in effect is having a rub-off effect on Asian gauges. However, investors need to be careful of the sharp intra-day volatility seen in the last few sessions due to growing uncertainty over rising covid cases in China and recessionary fears in key economies with more interest rate hikes going ahead further adding to the concerns. Other factors such as rising oil prices and dollar gaining strength could dampen market sentiment.”-Prashanth Tapse – Research Analyst, Senior VP (Research), Mehta Equities Ltd
The National Stock Exchange has retained GNFC, Indiabulls Housing Finance, and IRCTC stocks under its F&O ban list for Thursday, 22 December. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.
Foreign institutional investors (FIIs) offloaded equities shares worth Rs 1,119.11 crore, while domestic institutional investors (DIIs) purchased shares worth Rs 1,757.37 crore on 21 December, according to the provisional data available on the NSE.
-Reliance Industries (RIL): Ambani’s Reliance to acquire Metro’s India unit for $344 million
-Adani Enterprises: Begins making silicon ingots to localise solar modules
-Bharat Forge: Commences supply of forgings utilizing green steel
-Coal India: Coal demand likely to peak between 2030 and 2035, says Union Minister
-Lupin: Recalls four lots of Quinapril tablets
-Speciality Restaurants: Approves raising Rs 127 crore via warrants
-Sula Vineyards: To start trading after IPO
-Torrent Pharma: Board approves merging Curatio unit with itself
“Indian markets underperformed their Asian peers and came down crumbling on broad-based sell-off, mainly over concerns that recessionary fears in key major economies will have a spill-over effect on the local growth prospects going ahead. Investors are also worried that mounting Covid cases in China may lead to further deterioration in global economic health prompting traders to cut their equity market exposure,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities.
“The Nifty had a gap-up opening on December 21 however stumbled near the hourly upper Bollinger Band. Thereon it witnessed downside pressure throughout the day. It breached certain short-term supports on the way down & ended marginally below the level of 18200. India VIX shot up on Wednesday & can lead to increased volatility in the short term. Thus the index can have a short-term range shift on the downside & can test 18000 on the downside, which is a crucial support. On the other hand, short-term resistance zone shifts lower to 18450-18500.”-Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas
“Nifty formed a bearish engulfing pattern on daily charts engulfing the previous 3 candles. 17969-18133 band could be the next support cluster for the Nifty while 18340-18385 band could offer resistance. Nifty is not able to rise for three consecutive sessions since the recent high of 18887.”-Deepak Jasani, Head of Retail Research, HDFC Securities
Asia-Pacific shares traded higher, carrying on the optimism on Wall Street as stocks saw a boost from upbeat earnings and a strong consumer confidence reading. Japan’s Nikkei 225 added 0.35 percent in early trade, while the Topix gained 0.38 percent. Australia’s S&P/ASX 200 was up 0.53 percent. In South Korea, the Kospi gained 0.57% as the nation saw its annualized producer price index for November reach its lowest reading in 19 months.
Wall Street's three main stock indices closed higher on Wednesday for their biggest daily gains so far in December with help from upbeat Nike and FedEx quarterly earnings, as well as improving consumer confidence and easing inflation expectations from investors. The Dow Jones Industrial Average rose 526.74 points, or 1.6 percent, to 33,376.48, the S&P 500 gained 56.82 points, or 1.49 percent, to 3,878.44 and the Nasdaq Composite added 162.26 points, or 1.54 percent, to 10,709.37.
Trends in the SGX Nifty hint at a gap-up opening Indian benchmark indices as Nifty futures were trading 110 pts or 0.6% higher at around 18,360 levels on the Singapore Exchange.