Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 erased all the opening losses and turned positive on Monday. BSE Sensex jumped over 500 points from day’s low, crossing 53000 level, and NSE Nifty 50 index topped 15900. Ambuja Cements and ACC share prices were trading higher as Adani Group signed definitive agreements to acquire Switzerland-based Holcim Group’s entire stake in both cement firms. for about $10.5 billion. This is also the largest-ever acquisition by Adani, and India’s largest-ever M&A transaction in the infrastructure and materials space. Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, L&T, M&M, State Bank of India were top index gainers. On the flip side UltraTech Cement, Dr.Reddy’s, Nestle India, Bharti Airtel were among top BSE Sensex laggards. Bank Nifty jumped over 1 per cent to Rs 33,474.
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Sensex ends 180 points or 0.34 per cent up at 52,974, while NSE Nifty 50 index was up 0.4 per cent or 60 points at 15,845.
While there are concerns over LIC regarding market share loss in the individual insurance businesses and historically lower margins, we believe that valuations factor in most of the negatives. Expected improvements in product mix and greater transfer of surplus to shareholders account over the coming years are expected to drive profits from current low levels. Given the adverse market conditions listed gains are expected to be muted. However, cheap valuations as compared to other listed players offer comfort, and investors with a longer time horizon can hold on to their positions while retail traders with a short-term view can exit their positions in case of any listing gains. Yash Gupta- Equity Research Analyst, Angel One
Considering the FY21/FY22(Annualised) EPS of Rs.2.74/Rs.5.94 on a post issue basis, the company is going to list at a P/E of 15.32x/7.07x with a market cap of Rs.34,209 mn whereas its peers namely Coromandel International and Deepak Fertilisers & Petrochemicals are trading at PE of 16.9x and 12.9x. We assign “Subscribe” rating to this IPO as the company is the second largest private sector manufacturer of Phosphatic fertilizers in India and is well-positioned to capture favorable dynamics of the Indian fertilizer industry. Also, it is available at reasonable valuation as compared to its peers. ~ Marwadi Financial Services
The transaction would help the companies slash costs, trim debt and better cope with the soaring energy prices and weaker demand that have hurt the sector so far. Also, post the potential merger, there could be a consideration for brand consolidation leading to better margins and higher return on capital employed for the two companies. ACC and Ambuja Cements both stocks are good for long term investment with a target of 2450 and 420 respectively. Ravi Singh, VP & Head of Research, Share India Securities
Mutual fund houses increased their exposure to the oil and gas sector in the month of April along with private banks, data sourced by analysts at Motilal Oswal showed. Fund houses increased their position in the oil and gas sector to a 14-month high and trimmed their position in technology stocks, metals, NBFCs and some other sectors. As foreign institutional investors (FII) continued to pull money out of domestic stock markets, turning net sellers for the seventh consecutive month, the story has been different for domestic institutional investors (DII). DII inflows continued for the 14th month straight in April 2022 as investors continued to pour money into mutual funds.
Delhivery’s Rs 5,235 crore IPO, which was subscribed 1.63 times, is likely to finalise the share allotment on Thursday, 19 May. The public issue received bids for 10.17 crore shares against 6.25 crore shares on offer, according to the NSE data. The issue was sold at a price range of Rs 462-487 per share. The issue is expected to list on stock exchanges on 24 May. Upon successful listing on BSE and NSE, Delhivery will join the likes of other listed companies Blue Dart Express, TCI Express, and Mahindra Logistics. In the grey market on Monday, Delhivery IPO shares were seen trading flat. Read full story
Bullion prices continued downside reporting fourth weekly loss as traders and investors weighed aggressive FED stance post record US inflation numbers. The rally in dollar and strong US bond yields lowered the appetite for precious metals despite market uncertainty. U.S. Federal Reserve Chair Jerome Powell said on Thursday that the battle to control inflation would “include some pain”, as the impact of higher interest rates is felt. Read full story
Domestic stock markets have been witnessing heightened volatility recently along with global peers amid multiple headwinds. After having fallen more than 3.7% each last week, Sensex and Nifty have started this week’s trade with gains. However, many analysts still advise investors to remain cautious. Amid this, HDFC Securities has picked stocks that they believe investors can buy with a minimum of 6-12 month horizon via SIP route. These include marquee names such as Reliance Industries, ICICI Bank, State Bank of India and many more.
After record-high levels of IPO activity in 2021, volatile market conditions have resulted in a significant slowdown during the first quarter of 2022. In Q1 2022, the Indian market introduced 16 IPOs vs 23 IPOs in Q1 2021, according to the EY Global IPO Trends Q1 2022. During Q1 2022, proceeds raised through the main markets equated to US$ 995m via three main market IPOs compared to US$ 2.57 bn during Q1 2021, which is a decline of 60% in proceeds raised and a decline of 82% in the number of deals. SME segment raised US$ 17.46m via 13 IPOs during Q1 2022.
Adani Group has agreed to buy Holcim’s India assets, ie, the two publicly listed cement companies Ambuja Cements and ACC in a $10.5 billion deal. Swiss cement maker Holcim Ltd has decided to exit the Indian market after doing business for 17 years in India. Here is a fact sheet on everything you need to know about the billion dollar deal.
Ace investor Rakesh Jhunjhunwala’s portfolio stock Titan has plunged 16% so far this year underperforming NSE Nifty 50 which has plunged 9.5%. However, the Tata Group company share price is expected to rally 39% going forward on the back of strong earnings, jewellery business, eye care business and watches & wearables segment growth, according to Motilal Oswal Financial Services. Titan is clearly the leader among organized players in leading the growth in jewellery industry. “Its runway for growth is long, with a market share of just around 6%,” the brokerage said.
Patterns continue to appear very bearish. The prospects of a breach of 15671 appear much higher this week. It would require a close above 15930 today, for bearish momentum to give way for a consolidation or a short term pull back. Else, brace for 15400. Anand James – Chief Market Strategist at Geojit Financial Services
Since Nifty is trading at around 18 times FY 23 earnings, valuations are not yet cheap. But there are pockets where earnings visibility is good and valuations are fair like financials, telecom, IT and construction. Long-term investors can start accumulating high quality stocks in these segments. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Patterns continue to appear very bearish. The prospects of a breach of 15671 appear much higher this week. It would require a close above 15930 today, for bearish momentum to give way for consolidation or a short term pullback. Else, brace for 15400.
~ Anand James – Chief Market Strategist at Geojit Financial Services
UltraTech Cement, Dr.Reddy's, Nestle India, Bharti Airtel were among top BSE Sensex laggards
Tata Steel, Titan Company, Maruti Suzuki, Bajaj Finance, L&T, M&M, State Bank of India were top index gainers
Ambuja Cements share price jumped over 3 per cent to Rs 371.40 apiece on Adani Group stake buy deal
ACC share price jumped over 5 per cent in opening deals to Rs 2,265 apiece, as Adani Group acquired stake in cement major
BSE Sensex erased opening losses and jumps over 500 points from day's low, crossing 53000. While NSE Nifty 50 index topped 15900
BSE Sensex and Nifty 50 were trading flat to positive in pre-opening session. BSE Sensex was up 120 points while NSE Nifty 50 index was ruling above 15800.
Stock exchange clearing houses mark settlement holiday today, 16 May 2022. On settlement holiday, trading in equity markets takes place as usual, but clearing and settlement remain shut for Payin and Payout of stocks and funds. It may be noted that the trading holiday is different from the settlement holiday as in the case of the former, stock markets remain closed and no trading takes place.
For the week, we expect Nifty to trade in the range of 16300-15200 with a negative bias .The daily and weekly strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias. Nifty Put options OI distribution shows that 15800 has highest OI concentration followed by 15500 & 15700 which may act as support for current expiry. Nifty Call strike 16000 followed by 16300 witnessed significant OI concentration and may act as resistance for current expiry. Read full story
The Sensex came under fag-end selling pressure to close in the red for the sixth straight session as risk-off sentiment prevailed amid unabated selling by foreign institutional investors and concerns over inflation. This is the longest weekly losing streak for Sensex and Nifty in over two years since the run ended in April 2020. Sensex nosedived nearly 3000 points or 5.2% to close at 52794 and Nifty slipped over 900 points or 5.4% to close below 16000 at 15782 level. Domestic market is unable to sustain higher levels as concerns of consumer inflation (CPI) rose at the fastest rate in eight years in April due to higher food and fuel prices, fueling speculations that the Reserve Bank of India will further lift interest rates.
We expect rupee to depreciate further in this week amid pessimistic global market sentiments and strong dollar. Demand for dollar may climb on concern that major central banks action to combat high inflation would hurt global economic growth. Market sentiments are hurt as supply disruption due to Covid-19 lockdown and war between Russia and Ukraine have heightened fears about global economic growth. On top of this major central banks are ending easy money era. Read full story
A sharp recovery in the US markets on Friday and subsequent gains in SGX Nifty in early trades today is hinting a gap up start for our stock markets. However, cautious trend could prevail as the street will anxiously await to the WPI Inflation numbers slated to trickle in on Tuesday. We expect the inflation numbers are likely to be higher, just like the CPI Inflation numbers that trickled in last week. We suspect, the benchmarks at Dalal Street to trade volatile with upside capped and probably collapse heavily if Nifty slips below its biggest support at 15671 mark. With Fed and other central banks across the globe trying to rein on inflation desperately, it’s going to be a tough call to take bullish bets even on any dips from hereon. Prashanth Tapse, Vice President (Research), Mehta Equities
Rupee expected to depreciate further in this week amid pessimistic global market sentiments and strong dollar. Demand for dollar may climb on concern that major central banks action to combat high inflation would hurt global economic growth. Market sentiments are hurt as supply disruption due to Covid-19 lockdown and war between Russia and Ukraine have heightened fears about global economic growth. On top of this major central banks are ending easy money era.
Nifty 50 continued its bearish trend last week and the sell-on-rise strategy was valid for the entire week. Prices drift for a second consecutive week with a fall of more than three and a half per cent. Nifty has fallen almost 15 per cent in the last six weeks from 18110 to 15780 levels. The Benchmark index has formed a double bottom pattern on the daily chart and the momentum oscillator RSI (14) has also drifted near its oversold (below 30) with a bearish crossover. Prices continued to trade below their (21, 50 & 100) and days exponential moving averages on the daily time frame.
The Adani Group said on 15 May that it has entered into definitive agreements to acquire Swiss cement major Holcim Ltd.’s businesses in India – Ambuja Cements and ACC Ltd.
Maruti Suzuki India completed the process of allotment of an 800 acre site in Haryana for its proposed plant. Read full story
Domestic stock markets suffered heavy losses last week as Sensex and Nifty nosedived more than 3.7% each. S&P BSE Sensex settled at 52,793 on Friday, falling 3.72% during the week while Nifty 50 ended up at 15,782, down 3.83% after the five trading sessions of last week. India VIX is now placed above 23 levels as volatility continues to remain a concern. Rising inflation, interest rate hike cycle, and geopolitical worries continue to weigh down on Dalal Street. Entering the new week, SGX Nifty was up with gains, suggesting a gap-up start for equity indices. Read full story
Life Insurance Corporation of India (LIC) finalised IPO share allotment on Thursday, 12 May. LIC stock will make its BSE and NSE debut on 17 May. The Rs 21,000-cr public offer received 2.95 times subscription during the 6-day bidding process. LIC shares were offered to investors through the IPO in a fixed price band of Rs 902-949 per equity share. Read full story
In overnight trade on Friday, the Dow Jones Industrial Average rose 1.47%, the S&P 500 gained 2.39%, and the Nasdaq Composite added 3.82%.
Asian stock markets were trading in green as investors watched for a slew of Chinese economic data. Japan’s Nikkei 225 gained 1.54%, while the Topix advanced 0.93%.
The Adani family has signed definitive agreements to acquire Switzerland-based Holcim Group’s entire stake in two Indian firms — Ambuja Cements and ACC — for about $10.5 billion. This is also the largest-ever acquisition by Adani, and India’s largest-ever M&A transaction in the infrastructure and materials space. Holcim, through its subsidiaries, holds a 63.19% stake in Ambuja Cements and 54.53% in ACC (of which 50.05% is held through Ambuja Cements). Read full story