Share Market News Today | Sensex, Nifty, Share Prices Highlights: Indian benchmark indices ended higher amid mixed global cues. Nifty 50 closed at 18,055 levels, up 160 points or 0.9%, whereas the S&P BSE Sensex closed at 60,655 levels, up 562 points or 0.9%. On the sectoral front, oil & gas, realty, energy, infra, power, capital goods and FMCG gained 1% each, while PSU bank index shed 2%. In the broader markets, BSE midcap and smallcap indices ended flat. L&T, HUL, HDFC, HCL Technologies and HDFC Bank were among the top gainers on the Nifty, while SBI, IndusInd Bank, Bajaj Finserv, Wipro and Bajaj Finance were the losers.
Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News 17 January 2023
The government has cut windfall tax on crude oil and exports of aviation turbine fuel (ATF) and diesel, according to a government notification dated 16 January. It cut its windfall tax on crude to Rs 1,900 ($23.28) per tonne from Rs 2,100 per tonne earlier, effective Tuesday. The government also cut export tax on ATF to Rs 3.5 per litre from Rs 4.5 per litre, and cut export tax on diesel to Rs 5 per litre from Rs 6.5 per litre, the notification said.
The National Stock Exchange has added L&T Finance Holdings and retained Indiabulls Housing Finance and GNFC under its F&O ban list for 17 January. According to the NSE, the stocks mentioned above are prohibited in the F&O sector because 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 (FIIs) net sold shares worth Rs 750.59 crore, continuing selling for the 17th consecutive session. Meanwhile, domestic institutional investors (DIIs) net bought shares worth Rs 685.96 crore on 16 January, according to the provisional data available on the NSE.
“A long negative candle was formed on the daily charts at the highs, which indicates a counterattack of bulls after the upside bounce of Friday. But, the market is currently moving in a narrow range hence, the predictive value of Monday’s pattern could be less. The short-term trend of Nifty continues to be range bound and the market has shifted into a squeeze type formation of a triangle. Having declined from the upper end of a triangle at 18050-18100 levels on Monday, one may expect further consolidation or upside bounce from the lows in the coming sessions. A decisive move beyond 18100-18150 levels or 17750 levels could confirm breakout in the market on either side,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Asia-Pacific markets traded mixed Tuesday as investors await a slew of Chinese economic data. The Shenzhen Component rose 0.2% and the Shanghai Composite was slightly below the flatline. Hong Kong’s Hang Seng index fell 0.24%, and Japan’s Nikkei 225 rose 1.05%, leading gains in the region. South Korea’s Kospi fell 0.26% and the Kosdaq shed 0.2%. Meanwhile, US stock futures were lower despite the market coming off a winning week. Futures tied to the Dow dipped 0.1%. S&P 500 and Nasdaq-100 futures fell 0.2% and 0.4%, respectively.