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Share Market Highlights: Sensex ends 359 pts lower, Nifty below 16600 amid high volatility; RIL top dragger

Share Market News Today | Sensex, Nifty, Share Prices Highlights: 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.

Share Market Highlights: Sensex ends 359 pts lower, Nifty below 16600 amid high volatility; RIL top dragger
In the previous session, Sensex and Nifty surged by nearly 2%, extending their winning run to a third straight day.

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.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 31 May 2022

15:44 (IST) 31 May 2022
Changes in policy by central banks to a major factor for markets in the coming days

“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

15:34 (IST) 31 May 2022
Nifty, Sensex snap 3-day rally to end in red

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.

15:22 (IST) 31 May 2022
Nifty has negated its lower highs on weekly scale, expect a move towards 17000

“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

15:06 (IST) 31 May 2022
Indices in red

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.

14:59 (IST) 31 May 2022
NCC soars over 4%

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.

14:57 (IST) 31 May 2022
Bank Nifty in red

Bank Nifty was marginally down amid high volatility. The index was trading 0.24% lower at 35,741

14:54 (IST) 31 May 2022
SEBI issues SOP for dispute resolution under stock exchange arbitration mechanism

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.

14:46 (IST) 31 May 2022
Stocks to buy: DLF, Indian Hotels shares may rally soon, analysts see as much as 13% upside potential

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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13:45 (IST) 31 May 2022
India 10-year bond yield rises to 3-week high

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.

13:26 (IST) 31 May 2022
Vipul Organics results

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.

12:45 (IST) 31 May 2022
India VIX falls 22% in 5 straight sessions

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%.

12:27 (IST) 31 May 2022
Rupee slips 13 paise to 77.67 against US dollar

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.

12:20 (IST) 31 May 2022
M&M rallies 12% in three days

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.

12:12 (IST) 31 May 2022
Nifty, Sensex trading flat

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.

12:08 (IST) 31 May 2022
52-week high & low on BSE, NSE: Mahindra & Mahindra, HAL among 59 stocks to hit fresh highs on BSE, 38 at lows

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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11:24 (IST) 31 May 2022
Markets to remain volatile; use dips to increase equity allocation

“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

11:22 (IST) 31 May 2022
Realty stocks gain

Nifty Realty is the top gainer today, The index was up 1.81%, led by gains in Prestige Estates, Lodha and Phoenix Mills.

11:18 (IST) 31 May 2022
LIC share price falls 3% after weak Q4 results; now down 15% from IPO price; should you buy, sell, hold?

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

11:07 (IST) 31 May 2022
Benchmark indices near day’s high with Nifty above 16,650

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.

10:58 (IST) 31 May 2022
Rupee mute performance likely to continue

“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

10:57 (IST) 31 May 2022
Natco Pharma tanks 6%

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.

10:55 (IST) 31 May 2022
Paints stocks rise

Mild upmove was seen in paint stocks as brent crude boiled above $120 a barrel.

10:37 (IST) 31 May 2022
Sensex, Nifty recover from intraday lows

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

10:34 (IST) 31 May 2022
Adani Enterprises may enter Nifty 50 in next semi-annual index review, LIC could see Nifty next 50 inclusion

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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10:16 (IST) 31 May 2022
India Q4 GDP: Inflation may have slowed down growth to just 4%, says Reuters poll

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.

10:16 (IST) 31 May 2022
IRCTC share price falls despite 106% jump in Q4 profit, tanks 14% in 6 months; should you buy, sell, hold?

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

10:15 (IST) 31 May 2022
M&M at 52-week high

Mahindra and Mahindra (M&M) shares hit 52-week high after the firm laid out Rs 15,300 crore capex plan.

10:14 (IST) 31 May 2022
Sun Pharma share price falls 2% after Q4 results; should you buy, hold or sell?

“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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09:35 (IST) 31 May 2022
LIC share price falls 2%

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.

09:26 (IST) 31 May 2022
Broader markets outshine benchmark; India Vix slips 1%

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%

09:26 (IST) 31 May 2022
Sensex top gainers, losers

Among the Sensex-30 shares, Sun Pharma, HDFC, Infosys, HCL Tech, Titan, Kotak Bank, Wipro, TCS and Tech Mahindra were the top laggards, falling 1-2 per cent. PowerGrid, M&M, Tata Steel and NTPC were the only gainers.

09:21 (IST) 31 May 2022
Sensex down 400 points, Nifty near 16550

Benchmark indices opened lower amid weak global cues. The BSE Sensex fell 400 points to 55,525, while the NSE Nifty shed 100 points to 16,560.

09:12 (IST) 31 May 2022
MCX Crude oil June futures may rise to Rs 9,250/bbl this week on rising prospects of EU ban on Russian oil

The black gold might rise further amid a tight refined products market ahead of US summer driving season, improving demand from China and rising prospects of an EU ban on Russian oil. Weakness in dollar index also aides the oil, as it makes crude cheaper for other currency holders. Sentiments received a boost as Chinese authorities moved to stimulate the country’s faltering economy and eased some of its strictest virus controls as the number of new local Covid-19 cases fell to the lowest level in almost three months. Read full story

09:12 (IST) 31 May 2022
Benchmark indices trade lower in pre-open

Indian benchmark indices were trading lower in the pre-open session. BSE Sensex shed 300 points, while NSE Nifty 50 fell below 16,600.

09:09 (IST) 31 May 2022
Stock markets may be plagued with volatility, but history suggests investors must stick with long term bets

Financial markets around the world have had a rough start in 2022. Equity indices are tumbling from all-time highs and bond yields continue to trend upwards. Central Banks have begun raising rates and are tightening the supply of “easy money” to combat the woes of rampant inflation. The Russia-Ukraine conflict and lockdowns across major cities in China continue to cause supply-chain disruptions and have only added fuel to the fire. The stock markets in India have seen heightened volatility as well which has made investors uneasy after a tremendous bull run over the last ~2 years. 

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09:04 (IST) 31 May 2022
Nifty, Sensex may start on a cautious note amid steady weakness in SGX Nifty

“Local gauges may start on a cautious note amid steady weakness in SGX Nifty, but gains in other Asian gauges could help revive sentiment. The markets, however, will be keenly awaiting India's GDP numbers for the March quarter that will trickle in later in the day. The biggest concerns about the inflation, economy and earnings is that WTI Oil has again firmed up above $116 a barrel. However, helping sentiments are key positive catalysts like Nifty is building ‘bullish double bottom pattern’, early arrival of monsoon, fresh stimulus in China, easing China covid curbs and the US Dollar index dropping from a multi-decade high.”

~Prashanth Tapse, Vice President (Research), Mehta Equities

09:02 (IST) 31 May 2022
Nifty technical view

17,000 is on the cards, however investors may look to book profits in long as it may not sustain at higher levels. “PCROI is indicating that we may have one or two more days of upmove post which some profit booking can come in. Supports are placed at 16,415/16,500,” said Rahul Sharma, Head- Research, JM Financial Services

08:45 (IST) 31 May 2022
LIC, Sun Pharma, IRCTC, Delhivery, Campus Activewear, Jindal Steel stocks in focus on 31 May 2022

Indian equity markets are likely to open gap-down on Tuesday amid weak global cues. Nifty futures traded 39.5 points, or 0.24%, lower at 16,607.50on the Singapore Exchange, signaling that Dalal Street was headed for a negative start. “Markets have regained some strength citing the less hawkish tone of the US Fed in the recently released meeting minutes. On the domestic front, the early onset of monsoon has further lifted sentiments. Going forward, with earnings season largely behind us, upcoming macroeconomic data i.e. GDP numbers and PMI data and auto sales will be in focus for cues. Amid all, we reiterate our positive view and suggest maintaining “buy on dips” till the Nifty holds 16,300,” said Ajit Mishra, VP – Research, Religare Broking. Read full story

08:34 (IST) 31 May 2022
Petrol and diesel price May 31: Fuel cost steady; Check prices in Delhi, Mumbai, other cities here

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: The prices of petrol and diesel were kept unchanged by the OMCs for the Ninth day running on Tuesday. Finance Minister Nirmala Sitharaman had announced a cut in excise duty on petrol by 8 per litre, and 6 rupees per litre on diesel earlier this month. Petrol price in Delhi today stands at Rs 96.72 a litre as against Rs 105.41 a litre last week, while diesel will cost Rs 89.62 a litre as opposed to Rs 96.67. In Mumbai, one litre of petrol costs Rs 111.35 while diesel is retailing at Rs 97.28 per litre.

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08:33 (IST) 31 May 2022
US stock markets shit on account of Memorial Day

The stock market in the US was closed on Monday on account of Memorial Day. Likewise, there was be no trading in Treasuries as well as the US bond market. However, the stock futures traded, albeit only till 1:00 pm ET.

08:32 (IST) 31 May 2022
Oil prices rise

Oil prices rose on Tuesday after EU agreed to slash oil imports from Russia by the end of 2022, fuelling worries of a tighter market already strained for supply amid rising demand ahead of peak US and European summer driving season. Brent crude futures for July, which expires on Tuesday, gained 33 cents to $122 a barrel.

08:15 (IST) 31 May 2022
Bulls back on Dalal Street or will bears fight back today? 5 things to know before opening bell

Domestic markets marked the return of bulls on Monday as Sensex and Nifty zoomed nearly 2% higher each. S&P BSE Sensex rose 1.9% or 1,041 points to end the day at 55,925 while the NSE Nifty 50 index jumped 308.95 points or 1.89% to settle at 16,661. India VIX, the volatility index, has slipped below 20 levels, tanking almost 7% on Monday. Entering Tuesday’s trade, SGX Nifty was down with marginal losses, suggesting a weak opening for indices. Global cues were negative with most Asian stock markets down with losses. 

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08:11 (IST) 31 May 2022
Stocks in focus after March quarter earnings

LIC: Net profit drops 17% to Rs 2,409 crore

Delhivery: Q4 revenue grows more than 2X to Rs 2,072 crore; loss remains flat

Aurobindo Pharma: Q4 net profit down 28%, revenue slips to Rs 5,809 crore

Sun Pharma: Company eyes high single-digit top-line growth in FY23

IRCTC: Q4 net profit doubles to Rs 216 crore, revenue increases to Rs 690.9 crore

Jubilant Foodworks: Profit falls 9% to Rs 96 crore

08:10 (IST) 31 May 2022
16500 to be the trend decider level

“With clarity now arising from last week's US FOMC meeting about another 50 bps rate hike in the next few months, the market seems to be taking in its stride the future rate hikes and is now seen reversing the bearish trend. While fears of global recession and further rise in oil prices lurk, investors are currently engaged in buying after the recent free fall. Technically, in the last three days, the Nifty has rallied nearly 800 points and cleared the 16400 resistance level which is broadly positive. For traders, 16500 would be the trend decider level, above which the positive momentum is likely to continue till 16750-16800. Below 16500, uptrends would be vulnerable. Any further retracement could see the index retest the level of 16440-16420.”

~Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities

08:08 (IST) 31 May 2022
Nifty support, resistance levels to watch out for

“Nifty likely to find support at around 16100 while 16800 is likely to act as the resistance level. Bank Nifty likely to find support at around 35200 while36200 is likely act as resistance on the upside.”

~IIFL Securities

08:06 (IST) 31 May 2022
‘Buy on dips till the Nifty holds 16300’

“Markets have regained some strength citing the less hawkish tone of the US Fed in the recently released meeting minutes. On the domestic front, the early onset of monsoon has further lifted sentiments. Going forward, with earnings season largely behind us, upcoming macroeconomic data i.e. GDP numbers and PMI data and auto sales will be in focus for cues. Amid all, we reiterate our positive view and suggest maintaining “buy on dips” till the Nifty holds 16,300.”

~Ajit Mishra, VP – Research, Religare Broking

08:03 (IST) 31 May 2022
Nifty upside levels to be watched: 16900-17000

A long bull candle was formed on the daily chart with gap up opening. Technically, this action indicate an upside breakout of the consolidation pattern at 16400 levels. This is positive indication and signal more upside for the short term. The sharp upside bounces after minor consolidation over the last two weeks, formation of higher bottoms and slowing down of sharp weakness are all pointing towards a probable bottom reversal for the Nifty at the swing low of 15735-12th May. As per this pattern, any downward corrections from here is going to be short lived and could be a buy on dips opportunity for the near term. The next upside levels to be watched at 16900-17000 levels.

~Nagaraj Shetti, Technical Research Analyst, HDFC Securities

08:02 (IST) 31 May 2022
Govt to release GDP numbers today

“The government will announce GDP numbers on 31 May 2022 which would also provide direction to the market. Though the markets have bounced back, inflation and central banks action globally would hold the key for the sustenance of this momentum. Nifty has formed a Bullish candle on daily scale and needs to hold above 16,666 zones for an up move towards 17000 zones whereas supports are placed at 16,400 zones. India VIX has cooled down sharply to below 20 levels which is supporting the bullish tone in the market.

~ Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services

08:00 (IST) 31 May 2022
SGX Nifty in red

SGX Nifty hinted at gap-down open for Indian benchmark indices. Nifty futures traded 39.5 points, or 0.24%, lower at 16,607.50 on the Singapore Exchange, signaling that Dalal Street was headed for a negative start.