Share Market News Today | Sensex, Nifty, Share Prices Highlights: Benchmark indices ended Friday’s volatile session broadly in green. The NSE Nifty 50 jumped 73.45 points or 0.41% to 18,203.40 and BSE Sensex surged 297.94 points or 0.48% to 61,729.68. In sectoral indices, Bank Nifty soared 217.1 points or 0.50% to 43,969.40, Nifty IT skyrocketed 1.47% while Nifty Pharma fell 0.96%. The top gainers on the Nifty 50 were Adani Ports, Adani Enterprises, Tata Motors, Tech Mahindra and Infosys while the laggards were Divis Lab, Britannia, ONGC, NTPC and Hero Motocorp.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
Benchmark indices NSE Nifty 50 and BSE Sensex concluded Friday’s volatile session broadly in green. “The domestic market, though experienced a lack of decisive direction, closed the day on a positive note. The optimism in the US market was fuelled by progress in debt ceiling talks and stronger-than-expected jobless claims. However, the prospect of a stronger US economy suggests that the Federal Reserve may keep policy rates elevated for an extended duration,” said Vinod Nair, Head of Research at Geojit Financial Services.
The top gainers on the Nifty 50 were Adani Ports, Adani Enterprises, Tata Motors, Tech Mahindra and Infosys while the laggards were Divis Lab, Britannia, ONGC, NTPC and Hero Motocorp.
In sectoral indices, Bank Nifty soared 217.1 points or 0.50% to 43,969.40, Nifty IT skyrocketed 1.47% while Nifty Pharma fell 0.96%.
NSE Nifty 50 jumped 73.45 points or 0.41% to 18,203.40 and BSE Sensex surged 297.94 points or 0.48% to 61,729.68.
Nifty IT surged 402.70 points or 1.44 % to 28,295.25. The top gainers were Persistent Systems, Tech Mahindra, MPhasis, LTI Mindtree and Infosys while the sole loser was L&T Technology Services.
Bank Nifty jumped 253.95 points or 0.58% to 44,006.25. The top gainers were PNB, Axis Bank, IndusInd Bank, Kotak Bank and ICICI Bank while the losers were Bandhan Bank and Federal Bank.
The NSE Nifty 50 surged over 150 points from the day’s low towards the end of the session and was trading at 18,213.35. BSE Sensex jumped 350 points to 61,784.12. Bank Nifty skyrocketed 238.85 points or 0.55% to 43,991.15.
Adani Enterprises' share price jumped 4.55% to Rs 1973.95 and Adani Ports shares surged 4% to Rs 690.7 after an expert committee appointed by the Supreme Court to investigate allegations around Adani Group said it was not possible to conclude if there has been a regulatory failure on stock price manipulation allegations.
DSP Pension Fund Managers announced the appointment of G N Bajpai and G Mahalingam as Independent Directors of DSP Pension Fund Managers. G N Bajpai would also assume the role of Chairman of DSP Pension Fund Managers.
On the flip side, Aditya Birla Fashion and Retail, Adani Total Gas, Butterfly Gandhimathi Appliances, Cineline India, Gland Pharma, Lyka Labs, SEL Manufacturing Company, Sumitomo Chemical India and V-Mart Retail were among 15 stocks that hit 52-week lows.
Dynamatic Technologies, Vindhya Telelinks, Stylam Industries, Expleo Solutions, Cyient, Carborundum Universal, Centum Electronics, Cholamandalam Financial Holdings, The Ramco Cements, Tega Industries, Ndr Auto Components, Linc, Mrs Bectors Food Specialities, Aurionpro Solutions, AGI Greenpac, Newgen Software Technologies, Repro India, Kirloskar Brothers, Elecon Engineering Company, Max Healthcare Institute, Datamatics Global Services, Aptech, Fusion Micro Finance, Kirloskar Oil Engines, Shanthi Gears, Sanghvi Movers, Refex Industries, eMudhra, Ramkrishna Forgings, Huhtamaki India, Ugro Capital, Par Drugs And Chemicals, Precision Camshafts, Banswara Syntex, Tilaknagar Industries, Firstsource Solutions, Cords Cable Industries, Servotech Power Systems, Shree Digvijay Cement Co.Ltd, Andhra Cements, Walchandnagar Industries, Marine Electricals (India), GI Engineering Solutions were among 50 NSE stocks to hit 52-week highs.
Infosys, Tata Motors, HCL Tech, Tech Mahindra, Wipro, UltraTech Cement, TCS, Mahindra & Mahindra and Kotak Bank were the top gainers while Hero Motocorp, UPL, Britannia, Divis Lab, JSW Steel, Power Grid and Asian Paints were the top losers.
State Bank of India, HDFC Bank, Infosys, ICICI Bank, ITC, Tata Motors, Reliance Industries (RIL), Kotak Bank and Axis Bank were the most active stocks on NSE.
Mindteck (India), Sharda Motor Industries, Chemfab Alkalis, Shree Ram Proteins, Balaxi Pharmaceuticals, Gland Pharma, Cords Cable Industries, Next Mediaworks, The Ramco Cements, Osia Hyper Retail, Nazara Technologies, Shanti Overseas (India), NIIT, Par Drugs and Chemicals, Tata Investment Corporation, G R Infraprojects, BLB, D.B.Corp, Gulf Oil Lubricants India, Vedant Fashions, Ndr Auto Components, Hindustan Foods were among the volume gainers
Aurionpro Solutions, AVG Logistics, Vardhman Polytex, Soma Textiles & Industries, Seya Industries, Khaitan (India), Chemfab Alkalis were among 41 stocks that hit the upper price band while Adani Transmission, Archidply Decor, Adani Total Gas, Bombay Super Hybrid Seeds and Zim Laboratories were 31 NSE stocks to hit lower price band.
In broader markets, Nifty Next 50 fell 0.1%, Nifty Midcap 100 fell 0.44%, Nifty Midcap 50 fell 0.45% and Nifty Total Market was down 0.14%. The volatility index, India VIX fell 0.95% to 12.67.
Blackstone-backed Nexus Select Trust REIT units listed at 3% premium over IPO price on NSE and BSE amid a flat domestic market. The units debuted at Rs 103 on the NSE, as compared to the issue price of Rs 100 per unit. The scrip touched a high of 3.7% at Rs 103.74. A mildly positive listing was expected as ahead of the market debut, Nexus Select Trust REIT units were trading at a premium of Rs 3 in the grey market and gained 3% in the pre-open market.
TV Today Network was the highest dividend yielding small-cap scrip in the last financial year, with a whooping yield of 33%, according to a list of highest dividend-yielding smallcap shares compiled by Axis Securities. Another stock on the list – Polyplex Corporation– paid the highest dividend at Rs 106 per share, with a dividend yield of 7%.
Nifty IT jumped 328.50 points or 1.18% to 28,221.05. The top gainers were HCL Tech, Infosys, Tech Mahindra, Persistent and LTIM while there were no losers.
Bank Nifty slipped 123.6 points or 0.28% to 43,628.7. The top losers were AU Bank, Bandhan Bank, IDFC First Bank, Federal Bank and IndusInd Bank while the gainers were PNB, Kotak Bank, SBIN and ICICI Bank.
ITC share price tanked 1.83% to Rs 411.95 today on profit booking after the cigarettes-to-hotels conglomerate posted a profit rise of 23.4% on-year to Rs 5,175.48 crore for the quarter ended March 2023, as against Rs 4,195.69 crore during the same quarter last year. ITC shares have jumped 21% in the past 6 months and over 50% in the last one year.
Bank Nifty rose 124.85 points or 0.29 % to 43,877.15. The top gainers were the State Bank of India (SBIN), Punjab National Bank (PNB), Axis Bank, ICICI Bank and Bank of Baroda while the losers were AU Bank, Bandhan Bank and IDFC First Bank.
Zydus Lifesciences share price rose 0.54% to Rs 510 today despite the pharma major reporting a 25.36% decline in consolidated net profit at Rs 296.6 crore for Q4FY23 as it was impacted by the impairment of goodwill of a wholly-owned subsidiary. The company posted a consolidated net profit of Rs 397.4 crore in Q4FY22.
PNB Housing Finance share price plunged 1.61% to Rs 472.6 today after the company reported an almost 65% jump in its fourth-quarter profit, led by increased demand for housing loans.
Gail share price tanked 1.69% to Rs 104.45 today after the company posted a profit fall of 81.5% on-year, to Rs 642.74 crore in the fiscal fourth quarter of FY23 against Rs 3473.77 crore in the corresponding quarter in FY22. The company had posted a 90% on-year decline in profit for the December quarter to Rs 397.59 crore, owing to losses in the petrochemical and gas marketing business.
ITC share price fell 0.9% to Rs 415.9 after the company reported a rise in profit of 23.4% on-year for Q4FY23 to Rs 5,175.48 crore, against Rs 4,195.69 crore on-year. The board also recommended a final dividend of Rs 6.75 and a special dividend of Rs 2.75 per equity share.
India’s largest bank SBI share price soars 1.3% to Rs 582.7 per share as State Bank of India reported an 89.4% surge in its consolidated net profit for the quarter ended March 2023. The bank’s consolidated net profit clocked in at Rs 18,094 crore, while its income from interest rose 31.4% in the same period.
Top gainers on Nifty 50 were SBIN, HCL Tech, Infosys, Tech Mahindra and TCS while the losers were ITC, Eicher Motors, UPL, Divis Lab and JSW Steel.
In sectoral indices, Bank Nifty climbed 142.95 points or 0.33% to 43,895.25 and Nifty IT rose 158 points or 0.57% to 28,050.55.
The NSE Nifty 50 jumped 46.80 points or 0.26% to 18,176.75 and BSE Sensex rose 102.21 points or 0.17% to 61,533.95.
“Bank Nifty is seen to be trading with a sideways to negative trend from the last three days and closed flat but the undertone remains bullish as long as it holds the levels of 43500 as put writers are fiercely active on 43500 and 43000 and call writers are active on 43800 and 44000. Technical indicator RSI is at around 64 and is showing strength by sustaining above 50 levels. Support placed at 43700, 43500 and 43000 while resistance at 43850, 44000 and 44200,” said Mitesh Karwa, Research Analyst at Bonanza Portfolio Ltd.
“Nifty Bank became vulnerable once SBI announced its quarterly numbers which augmented the pressure. However, Bank Nifty continues to trade above its 10DEMA implying fresh downside is expected to be seen once it closes below 43500 levels. Till then it is expected to trade in the 43500-44100 range,” said Gaurav Bissa, VP – InCred Equities.
Bank Nifty is expected to change gears above 44080 while 43450 is crucial support for bulls. First support at 43661 and then 43514 while resistance at 44006 and then 44205, according to Rahul Sharma, JM Financial.
“Nifty has formed a lower top formation on intraday charts and has also formed a bearish candle on daily charts which is broadly negative. The market texture is weak and the 20-day SMA (Simple Moving Average) or 18050 would be the immediate support zone for the bulls. On the other hand, 18200 could act as an immediate resistance zone for the traders, above which the index could retest the level of 18280-18300,” said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
“Going ahead 18300–18350 shall act as a stiff resistance. On the way down the Nifty is approaching the crucial support of 18079 which coincides with the 20-day moving average and below that lies the psychological support level of 18000. The daily momentum indicator has a negative crossover which is a sell signal. Thus, considering the above we have changed our outlook to sideways and the range of consolidation is 18400–18000,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“In the NSE Nifty 50 index, the crucial levels to monitor closely are 18,100 and 18,000, as they hold significant importance. On the upside, the key resistance levels to consider are 18,350. Presently, Nifty is facing selling pressure, leading to profit booking. Traders should exercise caution while initiating substantial long positions as the current market indicators lack clarity and strength,” said Ameya Ranadive, Equity Research Analyst at Choice Broking.
“Volatility was at its best as Nifty swung wildly during the day with no rise in IVs or India VIX. Nifty held on to the support of 18100. Expect Nifty to bounce back if 18100 support is not broken. Buy on dip around 18000. Nifty first support at 18100 and then 17950 while resistance at 18200 and then 18300,” according to Rahul Sharma, JM Financial.
The National Stock Exchange has Delta Corp, Balrampur Chini Mills, Mannappuram Finance, GNFC, Punjab National Bank, Aditya Birla Fashion and Retail, L&T Finance Holdings, and LIC Housing Finance securities on its F&O ban list for 19 May. According to the NSE, stocks are prohibited in the F&O sector when 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 (FII) bought shares worth net Rs 970.18 crore, while domestic institutional investors (DII) sold shares worth net Rs 849.96 crore on May 18, according to the provisional data available on the NSE.
Oil prices fell slightly in early Asian trade on Friday as optimism that a U.S. debt default will be avoided weighed against sticky inflation data that could portend more interest rate hikes from global central banks. Brent futures were down 2 cents at $75.84 a barrel as at 0015 GMT. U.S. West Texas Intermediate (WTI) crude fell 10 cents, or 0.043%, to settle at $71.76.
The US market ended the overnight session broadly in green – Dow Jones Industrial Average (DJIA) jumped 0.34%, S&P 500 surged 0.94% and the tech-heavy Nasdaq soared 1.51%.
Asian markets were trading mixed – Hong Kong’s Hang Seng tanked 1.31%, China’s Shanghai Composite index plunged 0.65%, South Korea’s KOSPI climbed 0.48% and Japan’s Nikkei 225 jumped 1%.
The Nifty futures on the Singapore Exchange (SGX) were trading 18 points or 0.10% higher at 18,196.5 in today’s early morning trade.