Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended the volatile session in red on Monday, on the back of tepid global cues. BSE Sensex ended 149.38 points or 0.3 per cent down at 57,684, while Nifty 50 finished trade at 17,207. Top index losers were Sun Pharma, Tata Consultancy Services (TCS), ITC, L&T, UltraTech Cement, Tech Mahindra, Reliance Industries Ltd (RIL), Titan Company, among others. On the contrary, Wipro, Infosys, Power Grid Corporation of India, ICICI Bank, HDFC Bank, Maruti Suzuki among others capped the Sensex’ losses. On the sectoral front, only Bank Nifty, Nifty Financial Services, and Nifty Private Bank ended in green. Nifty FMCG index declined nearly one per cent in today’s trade.
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BSE Sensex ended 149.38 points or 0.3 per cent down at 57,684, while Nifty 50 finished trade at 17206
We expect gold prices to trade sideways to up in coming week with COMEX spot gold resistance at $1920 per ounce and support at $1870 per ounce. At MCX, Gold April prices have near term resistance at Rs 50800 per 10 grams and support at Rs 49200 per 10 gram. COMEX Spot silver has near term resistance at $24.90 per ounce with support at $22.90 per ounce. MCX Silver March has important resistance at Rs 65600 per KG and support at Rs 61500 per KG.
BSE Sensex was up nearly 200 points or 0.34 per cent to 58028, while Nifty 50 index reclaimed 17300 level in the afternoon deals
DABUR is among our top two picks in the Staples space along with Godrej Consumer (GCPL). Our investment thesis on DABUR is premised on the following key attributes: a) highest topline growth visibility among peers, b) consistent market share gains across categories, and c) potential to record even faster earnings growth post-completion of its ongoing investment phase. Motilal Oswal Financial Services
The markets are primarily down due to a weaker global trade setup. The continuing uncertainty around the geopolitical tensions between Russia and Ukraine is taking its toll on the market sentiments. From the technical perspective, the levels of 17500 continues to be a strong resistance point as per the options data and this holds true for Bank Nifty with the levels of 40000 which has maximum Call OI. So, over the next four days until the expiry, the NIFTY and Bank Nifty are very less likely to move past 17500 and 40000 respectively. Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services
Bharti Airtel share price may rally on account of the company’s market share increase in the near future. Vodafone Idea’s network investments and 5G rollout would likely remain constrained, at least in the near term, without significant fund-raising, analysts at Nomura said. Hence, market share gains are expected to continue for Bharti Airtel and Reliance Jio. Additionally, Bharti Airtel’s ARPU is also likely to get a boost from the conversion of non-data subs to data subs. Despite the recent market correction, Bharti Airtel stock has risen 2.01 per cent in the last one month and over 26% in the past year, and going forward the stock may rally over 16% in 12 months. Bharti Airtel shares were down 0.52% on Monday at Rs 709 on BSE.
War-like scenarios, fear of rate hikes by all central banks, probable liquidity crunch due to big IPO like LIC and inflation are major worries at the given point in time. If the uncertainty remains continues every rise will be sold-off. Major support for the Nifty is at 16800 and resistance at 17450-17550 levels. Vishal Wagh, Head of Research, Bonanza Portfolio
For Bank Nifty, 36800-36500 should be considered as supports and on the higher side, 38000 followed by 38500 are the levels to watch out for. Till the time there is no clarity on the global front, expect key indices to remain in this range with higher volatility. Sameet Chavan is a Chief Analyst-Technical and Derivatives at Angel One
Overall sentiments have completely dampened due to the geopolitical concerned with respect to Russia-Ukraine. Market participants are a bit cautious and hence we are seeing some nervousness to start the new week. As far as level are concerned, 17000 - 16800 are to be seen as make or break levels; whereas on the flipside , 17400-17500 has become a sturdy wall. Sameet Chavan is a Chief Analyst-Technical and Derivatives at Angel One
Ukraine and Russia have been locked in a tense border stand-off for weeks. This crisis has added to the market concerns on high inflation and central banks' withdrawal of the easy monetary policy. Another factor that is driving the market now is the possibility of an interest rate hike and tighter fiscal policy in near future . All the volatility inducing factors are very much present and will continuously effect the market in near term. Nifty and Bank Nifty may touch the levels of 16800 and 36500 respectively in next sessions. We may see some lower level buying at those levels. Ravi Singh, VP & Head of Research, Share India Securities
Geopolitical tensions dragging the markets lower today. 17000-16800 is support for Nifty, while 37000-36800 is support for Bank Nifty. Rajesh Palviya, VP – Research (Head Technical & Derivatives), Axis Securities
Uncertainty in terms of the Russia-Ukraine standoff, rising inflation & subsequent expectation of higher interest rates in the future have been dragging equity markets lower. Technically, 17445-17600 remains a massive resistance zone. 16840 will act as a good support. Technically, Nifty Bank looks better than Nifty and needs to close above 38460 for a strong uptrend. 36650 will act as a strong support. Pavitraa Shetty, Co-founder & Trainer, Tips2Trades
Overall, the sentiments are weak for the Indian rupee, amid the hawkish Federal Reserve, higher crude oil prices and geopolitical tensions Overall, the sentiments are weak for the Indian rupee, the hawkish Federal Reserve, higher crude oil prices and geopolitical tensions between Russia and Ukraine. We expect the pair to trade between 74.30 to 75.60 in the medium term. Amit Pabari, managing director, CR Forex Advisors
The market has opened with a gap down and has breached the 17200 level of support. If it closes below this level, it could slide further to 16800. On the upside the resistance is at 17250-17300. Until we do not get past that, any pull back can be utilized to short the Nifty. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
All the Nifty sectoral indices were trading in the deep sea of red. Bank Nifty was down nearly 1%, Nifty IT lost 0.7%, while Nifty FMCG index declined 1.04%
The Nifty index managed to hold 17200 zones. It formed a Bullish candle with long upper shadow on daily and a small bodied Bullish candle on weekly frame indicating tug of war between bulls and bears. Index got stuck in a range of 17200 to 17500 zones from last three sessions and a decisive range breakout is required to commence the next leg of rally. Now till it remains below 17350, weakness may be seen towards 17100 and 17000 zones whereas hurdles can be seen at 17400 and 17500 zones.
Dr Reddy's Laboratories, NTPC, Power Grid Corporation of India, Tata Consultancy Services (TCS), and IndusInd Bank were top Sensex gainers
Index heavyweights such as Reliance Industries Ltd, HDFC Bank, Housing Development Finance Corporation, Infosys, and ICICI Bank, among others contributed the most to indices fall.
BSE Sensex was down nearly 300 points to 57540, while Nifty 50 index gave up 17200 levels on weak global cues.
BSE Sensex tumbled 660 points, while Nifty 50 crashed over 250 pts to trade below 17100 in pre-opening session on Monday
From here on 16800 levels will act as immediate support for the Nifty 50 and if prices slip below this level then 16500 will be the next support zone for the index. The upper band is capped near 17650 levels for the time being.
"Nifty to hold strong support of 16800. Hence investors are advised to adopt buy on dip strategy with focus on benchmark constituents. Cool off in VIX would set the stage for a gradual move towards 17800 in coming weeks. Our preferred sectors are BFSI, Capital goods, Metals and Auto. In large caps, we like Axis Bank, SBI, Bajaj Finance, Reliance Industries, Infosys, Asian Paints, Titan, Tata Steel, Tata Motors while in Midcaps we prefer Siemens, Cummins India, Bharat Dynamics, Voltas, KNR Constructions, Inox Leisure, Trent, Taj GVK Hotels & Resorts."
~ICICI Direct
Nifty finds support around 17000 while 17600 will act as resistance on the upside. Bank Nifty finds support around 37200 while 38350 will act as resistance.
~IIFL Securities
On the weekly chart, Nifty 50 index formed a small bullish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. For the last four weeks, the index has been consolidating within a broad range of 17800- 17000 levels representing a short term sideways trend. The chart pattern suggests that if Nifty crosses and sustains above 17400 levels it would witness buying which would lead the index towards 17600-17800 levels.
Indian equity markets had an awful start to last week as the geopolitical concerns between Russia and Ukraine escalated a bit. This resulted in a complete meltdown in global bourses and so as in Indian market too. Markets traded lackluster and ended marginally lower on Friday amid mixed cues. After the flat start, the benchmark inched gradually higher in the first half, however, it couldn’t sustain at higher levels for long and surrendered all the gains by the end. Nifty settled at 17,276; down by 0.2%. Here's a list of stocks in focus today.
As current global cues are forcing global equities to remain unstable, the domestic market is also expected to continue its volatile trend in the coming days. In such a volatile market a prudent approach is to have a balanced portfolio with a mix of equity, debt, gold, and cash. Vinod Nair, Head of Research at Geojit Financial Services
The recent pause in the index indicates caution and it will only ease with stability in the global markets. On the index front, a decisive close above 17,500 in Nifty would help the bulls to regain some strength else sideways to negative bias will continue, with crucial support around the 16,800-17,000 zone. Meanwhile, it’s prudent to limit leveraged positions and wait for clarity. Ajit Mishra, VP Research. Religare Broking
LIC issue seems to be relatively priced based on the price-to-embedded value (P/EV) – a measure for valuing insurance company. LIC’s P/EV is pegged at up to 2.8x, considering a post-listing market capitalisation of Rs 15 lakh crore. That compares with 4.1x for HDFC Life and 2.9x for SBI Life insurance.
Wall Street ended lower on Friday on Russia-Ukraine tensions. The Dow Jones Industrial Average fell 0.68%, while the S&P 500 lost 0.72%, and the Nasdaq Composite dropped 1.23%.
Asian peers were seen trading mixed. Japan’s Nikkei 225 shed 0.41%, while the Topix index dipped 0.36%.