Share Market News Today | Sensex, Nifty, Share Prices Highlights: Ahead of the Q4 GDP data release, Indian benchmark indices snapped 3-day winning streak to end lower in a highly volatile session. While BSE Sensex ended 359 points or 0.64% lower at 55,566, NSE Nifty 50 settled 0.46% down at 16,584. Reliance Industries (RIL) and HDFC were the top draggers. ONGC, M&M, NTPC, Coal India, PowerGrid, SBI Life, Apollo Hospitals, JSW Steel, and Britannia Industries were the top gainers in the Nifty pack, while Sun Pharma, Kotak Bank, HDFC, SBI, Reliance Industries, Shree Cement, and HDFC Life were the laggards. Sectorally, indices ended mixed with the Nifty Realty index climbing 2.2%, and the Nifty PSU Bank index falling 1.1%. In the broader markets, BSE MidCap and SmallCap indices the trend to end 0.5% and 0.7% higher respectively.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 31 May 2022
“Domestic market failed to hold on to recovery mode as it was awaiting the release of Q4 GDP data. GDP is expected to register a slower growth rate of 4.0-4.2% as the consumer spending and investments were hit by soaring inflation. A hike in oil prices due to the EU’s ban on Russian oil imports would act as a headwind in taming global inflation. Changes in policy by central banks would be a major factor to be monitored in the coming days.”
~Vinod Nair, Head of Research at Geojit Financial Services
Indian benchmark indices snapped 3-day winning streak to end lower in a highly volatile session. While BSE Sensex ended 359 points or 0.64% lower at 55,566, NSE Nifty 50 settled 0.46% down at 16,584.
“We have seen that the index has taken support at the previous swing low by forming a bullish reversal candle pattern and has held the levels of 15735 decisively. The index has turned from its oversold territory with the momentum indicator RSI reading near 30 and has bounced to higher levels. So the index has seen a reversal from the lower levels and has managed to close at the 16350 mark which is the highest closing since the last 14 trading sessions on the daily scale indicating some positive momentum. Currently, Nifty has negated its lower highs on weekly scale so expect a move towards 17000 zone. However, immediate support stands at 16250 while crucial support are placed at 16061 and 15735 zone.”
~Chandan Taparia, VP – Equity Derivatives & Technical’s Motilal Oswal Financial Services
Benchmark indices continue to trade in red with Nifty above 16,600. The Sensex was down 252.77 points or 0.45% at 55,672.97 and the Nifty was down 33.45 points or 0.2% at 16627.95.
NCC share price jumped over 4% as the company received three orders aggregating Rs 6,388 crore (exclusive of GST) in the month of May.
Bank Nifty was marginally down amid high volatility. The index was trading 0.24% lower at 35,741
Capital markets regulator SEBI issued SOP for dispute resolution under stock exchange arbitration mechanism for disputes between a listed firm or Registrars to an Issue and Share Transfer Agents (RTAs) and its shareholders. The arbitration mechanism will be initiated post exhausting all actions for resolution of complaints including those received through the SCORES portal. The arbitration reference will be filed with the stock exchange where the initial complaint has been addressed. The new framework will come into force with effect from June 1, SEBI said in a circular on Monday.
Domestic markets continue to dance between gains and losses, remaining rangebound. S&P BSE Sensex on Tuesday was trading flat with marginal losses at 55,900 while the NSE Nifty 50 index was up with minor gains at 16,680. India VIX, the fear gauge of domestic stock markets, tanked in the previous session but was again above 20 levels today. Amid the uncertain market environment, ICICI Direct has picked two stocks that they believe will rally 10-13% in the next three months. The stocks are DLF and Indian Hotels.
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India’s benchmark 10-year bond yield touched a three-week high in early trade on Tuesday, as global crude oil prices rose further raising concerns over the need for the central bank to tighten monetary policy aggressively to contain inflation. The benchmark bond yield was trading at 7.46% by 0606 GMT, its highest since May 9.
Total Revenues at Rs 13,515.98 Lakh, up 12.87% YoY on a Standalone basis and up 13.65% on a consolidated basis. Annual PAT marginally up, despite the pressure of increased cost of raw materials.
The India volatility index (VIX), referred to as the fear gauge, has fallen nearly 22% in the last five sessions to 20 from 25.63 on 24 May. So far this year, the index has surged nearly 24%. Since May 24, the benchmark Sensex and Nifty surged 3.3% each, while year-to-date decline in the two benchmarks has been 4.2%.
The rupee slipped 13 paise to 77.67 against the US dollar in early trade on Tuesday, weighed down by the surge in crude oil prices. At the interbank foreign exchange, the rupee opened at 77.65 against the American dollar, then lost ground to quote at 77.67, registering a fall of 13 paise from the last close. On Monday, the rupee settled at 77.54 against the US dollar.
Shares of Mahindra & Mahindra (M&M) hit a fresh record high of Rs 1,035.90, up 4% on the BSE in Tuesday’s intra-day trade, after it surged 12% in three days, on strong demand outlook. Most of the brokerages retain ‘buy’ rating on M&M with target price in the range of Rs 1,150 to Rs 1,200 per share, amid healthy demand prospects across the company’s product profile and its focus towards capital efficiency and electric vehicle (EV) proactiveness.
Sensex is down 36.38 points or 0.07% at 55889.36, and the Nifty added 7.40 points or 0.04% at 16668.80.
Domestic stock markets were down in the red on Tuesday, a day after Dalal Street indices skyrocketed as investors looked to book profits in various pockets. S&P BSE Sensex started at 55,622 but was soon trading flat with only marginal losses at 55,890. NSE Nifty 50 index opened at 16,578 but recouped some losses and traded flat at 16,660. Bank Nifty index was also flat while broader markets were up with gains. India VIX gained 2% to breach the 20 levels again. While the benchmarks battled marginal losses, 59 stocks on the BSE hit their 52-week high and 38 hit fresh lows.
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“We expect Indian markets to remain volatile and continue to trade and a broad range of 1000 -1200 points in Nifty in the near term. We believe this volatility should be utilized to increase their equity allocation for potential wealth creation. We believe Auto, Private Sector Banks, and Agri inputs should do better than the market in the current environment.”
~Naveen Kulkarni, Chief Investment Officer, Axis Securities
Nifty Realty is the top gainer today, The index was up 1.81%, led by gains in Prestige Estates, Lodha and Phoenix Mills.
Life Insurance Corporation of India (LIC) share price fell 3 per cent to Rs 810 apiece on BSE on Tuesday, after the insurance company reported a loss of 18 per cent on-year in standalone net profit at Rs 2,371.55 crore for the three months to March 2022. The board of LIC has recommended a dividend of Rs 1.50 per equity share with a face value of Rs 10 each for the year ended March 31, 2022. Read full story
Benchmark indices recouped majority opening losses and were trading near day's high. The Sensex was down 59.6 points or 0.11% at 55,866.14, and the Nifty was down 7.30 points or 0.04% at 16654.1.
“For the past few days, the Indian Rupee has been trading in a tight range. This mute performance is likely to continue in the upcoming sessions as well on account of the persistent intervention by the RBI in the currency market which wants the Rupee to revolve in a narrow range for some time. Markets shall pay attention to the upcoming meeting help between the US Fed Chair and the US President. Post the meeting, we can expect some volatile moves based on the comments.”
~Heena Naik- Research Analyst – Currency, Angel One
Natco Pharma was quoting at Rs 622.95, down Rs 42.75, or 6.42%. It has touched a 52-week low of Rs 607.95. It has touched an intraday high of Rs 672.60 and an intraday low of Rs 607.95.
Mild upmove was seen in paint stocks as brent crude boiled above $120 a barrel.
Benchmark indices recouped some opening losses and were trading marginally lower. BSE Sensex was down 198 points or 0.36% at 55,727, whole NSE Nifty 50 was down 0.25% at 16,620
Adani Enterprises could enter the Nifty 50 index in the next semi-annual index review (SAIR) according to Abhilash Pagaria — Head, Edelweiss Alternative & Quantitative Research. “In the upcoming Nifty September Review, according to our preliminary analysis for Nifty 50 we believe Adani Enterprises holds a high chance to dislodge Shree Cements. The only risk factor is that any sharp contra price move in either of the probable names can lead to a change in conviction,” Pagaria said. The rebalancing of NSE indices will be announced in August and come into effect from September end.
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Soaring prices and the subsequent hit to consumer spending and investments are likely to further dampen India's economy, as the central bank faces a finely balanced struggle to tame inflation via rate hikes without hurting economic growth, economists said. Asia's third-largest economy probably grew 4.0% in the January-March quarter from a year earlier, a Reuters poll showed last week. That would be the slowest pace in a year, following 5.4% growth in the previous quarter.
IRCTC share price fell more than 2 per cent after opening in green on BSE on Tuesday, despite a 105.7 per cent jump in net profit at Rs 213.78 crore for the quarter ending 31 March, 2022. The company also announced a dividend of Rs 1.5 per share of face value of Rs 2 each for the financial year 2021-2022, subject to the approval of shareholders in the upcoming Annual General Meeting (AGM). This final dividend is in addition to the interim dividend of Rs 2 per share. Analysts say despite strong Q4FY22 earnings where both revenue and profits have beaten estimates, the market seems to have already factored in the good results. Read full story
Mahindra and Mahindra (M&M) shares hit 52-week high after the firm laid out Rs 15,300 crore capex plan.
“Sun Pharmaceuticals share price fell 2% to hit an intraday low of Rs 856.7 on NSE on Tuesday after the drug maker reported a surprise net loss of Rs 2,227.38 crore for the quarter ended March 2022. Company’s revenue for the quarter rose 11% from a year ago to Rs 9,386.08 crore. So far this year, Sun Pharma stock has outperformed benchmarks. Sun Pharma share price has risen 3.49% year-to-date as opposed to 6% fall in NSE Nifty 50. Analysts remain bullish on the stock and see up to 22% potential rally going forward on the back of scale-up of the Specialty portfolio, niche launches in the US generics segment.”
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LIC shares fell over 2%. The insurance giant reported a net profit of Rs 2,371.55 for March quarter, down 18 per cent compared to the net profit of Rs 2,893 crore in the corresponding period of the previous fiscal.
Sectorally, auto, metal, PSU Bank and Realty stocks were gaining. On the flip side, IT, Financial Services, FMCG stocks were in red. Broader markets outshined benchmark, while India Vix slipped 1%