Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS Domestic equity market benchmarks BSE Sensex and Nifty 50 ended the volatile day in green on Tuesday, on the back of gains in index heavyweights such as Reliance Industries Ltd (RIL), and Baja Finance. BSE Sensex ended 187 points or 0.33 per cent up at 57808, while Nifty 50 index gained 53 points or 0.31 per cent to settle at 17266. Tata Steel, Bajaj Finance, Bajaj Finserv, Reliance Industries Ltd (RIL), Asian Paints, Titan Company, Maruti Suzuki, and Sun Pharma were among top index gainers. On the flip side, Power Grid Corporation of India, Ultratech Cement, Tata Consultancy Services (TCS), Tech Mahindra, Kotak Mahindra Bank, L&T, were top index draggers. Most of the sectoral indices ended in the positive territory. Bank Nifty ended flat with a positive bias, while Nifty Metal index gained nearly one per cent.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
BSE Sensex and Nifty 50 traded volatile on Tuesday but closed in green. Bank Nifty ended 0.09% higher. India VIX slipped 3.67%.
Bank Nifty index was up 0.27% on Tuesday ahead of the closing bell as bull regained control.
Sensex was up more than 200 points with less than an hour left before the closing bell as bulls pulled benchmarks down from the lows. Nifty was nearing 17300.
Inox Green Energy Services, an arm of Inox Wind has filed draft IPO papers with the Securities Exchange Board of India (SEBI) to raise Rs 740 crore through the market. Inox Wind informed the stock exchanges that Inox Green Energy has filed its papers on February 7. The IPO will be a mix of a fresh issue of equity shares and an offer for sale (OFS) by existing shareholders of the company. Inox Green Energy Services was formerly known as ‘Inox Wind Infrastructure Services Limited’. The name was changed earlier last year.
The company’s focus on growth of FMCG and packaged food business and shift to value added products will result in increasing market share and expansion of margins. It benefits from its parentage, leveraging the in-depth understanding of local markets, extensive experience in domestic trading and advanced logistics network. We advise investors to hold the company for the long term for good returns seeing the company's product portfolio. Mohit Nigam, Head-PMS, Hem Securities
The market continues to fall for four straight days, Nifty has corrected around 4% in the last four trading sessions. Border market showing some strength as compared to Nifty 50. After the budget market started its corrections as all the positives have been priced in the market. The market will be looking for any positive news from the global market or domestic market, till the time market will be trading in the short-range. In sectors like pharma, power continues to lose its momentum and real-estate, banking is gaining momentum. We suggest investors hold the position in the market as we have a positive view of the market in the long term. Yash Gupta- Equity Research Analyst, Angel One
The Indian economy has weathered well the COVID storm and continues to be the fastest growing economy. However, the third wave and Omicron eruption in the country highlight the prolonged pandemic effects that the economy may continue to face. We believe that the central bank will keep a close watch on consumer inflation level, which is elevated but within the tolerance band. Given the high inflationary expectations on account of increasing crude oil and commodity prices, accelerated liquidity tightening measures are expected. However, we expect that the key policy rates will be maintained for some time before the economy conclusively comes out of the pandemic third wave. Vivek Rathi, Director -Research, Knight Frank India
Adani Wilmar share price rallied 17.4 per cent from the day’s low to Rs 259.50 apiece, after making a weak debut at stock exchanges. The stock has surged 13 per cent from the issue price of Rs 230. Analysts say that the stocks listed at a discount owing to the weaker sentiments of the secondary market in the last few trading sessions. “It is evident that investors who have subscribed the issue solely for listing gains would not be happy and can square off their positions in the range of Rs 260-265. Short term investors can hold the stock and book profits at 30-40 per cent i.e they can book profits at Rs 290-300,” Likhita Chepa, Senior Research Analyst at CapitalVia Global Research, told Financial Express Online.
Sensex and Nifty were trading volatile on Tuesday, as bulls and bears engaged in a tug of war on Dalal Street. S&P BSE Sensex was sitting around 57,600 while the Nifty 50 index was holding above the 17,200 levels. Broader markets were deep in the red as smallcap indices on NSE fell more than 1%. Bank Nifty was down more than 0.50%. Amid this 164 stocks on the BSE and 49 on the NSE soared to fresh 52-week highs. These included newly listed Adani Wilmar, Jindal Stainless Limited, Reliance Infrastructure, and SIS limited.
Billionaire businessman Gautam Adani, chairman and founder of conglomerate Adani Group, has become richest person in Asia, beating Reliance Industries Ltd’s Mukesh Ambani, according to the latest tally of Bloomberg Billionaires Index. Gautam Adani, who now ranks among the top 10 wealthiest persons of the world, has a net-worth of $88.5 billion, about $600 million higher than Mukesh Ambani’s net worth.
Domestic markets have had a shaky start to the year with benchmark indices trading in the red on a year-to-date basis. Indices have now also cooled down from the Budget day highs. Sensex was trading in red on Tuesday with marginal gains hovering around 57,300 while the NSE Nifty 50 was holding above the 17,100 mark. With concerns around global inflation, rising crude oil prices, and US Federal Reserve’s tightening equity markets may continue to remain on the edge for a while but investors need to pick the right scrips to benefit from directions Dalal Street will take. Axis Securities February stock picks include 7 stocks from the large-cap category which they believe can offer strong double-digit returns.
Shares of Adani Wilmar got listed at a discount at Rs.227 and are currently trading at Rs.248. The stocks got listed at a discount owing to the weaker sentiments of the secondary market in the last few trading sessions. It is evident that investors who have subscribed the issue solely for listing gains would not be happy and can square off their positions in the range of Rs.255- 260. Short term investors can hold the stock and book profits at 30 to 40 percent i.e they can book profits at Rs. 290 – 300. Likhita Chepa, Senior Research Analyst at CapitalVia Global Research
"The market has started discounting a hawkish Fed and the possible fallout from the Russia-Ukraine tensions. The former is partly discounted by the market while the latter is not. This uncertainty is likely to keep the market in uncharted territory in the short- term till clarity emerges on these issues.DIIs also turning sellers is a reflection of this concern."
~V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
"Yesterday's low is a support for the Nifty - a break of 17100 can trigger a sell which can take the index down to 16850 and thereafter to 16300. On the upside, the resistance is at 17550-17600. We need to get past this on a closing basis for the markets to turn bullish. Until then the bias is on the short side," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Domestically, equities are tumbling due to heavy FII outflow. Over just six trading days of February, they have sold almost Rs. 12,000 worth of Indian stocks and debts securities. The selling spree is likely to continue ahead of the RBI policy decision. As it has been rescheduled, it is expected to kick off from today and a decision will be declared on February 10. Amid rising pressure on the central bank to turn their monetary policy, the market is expecting a change of stance and a slight rate hike in the reverse repo rate. This would surely make pressure on the Rupee which has been in a tight range over the last couple of weeks. Overall, crude oil at a multi-year high, rising bond yield, sell-off in equities, and recovery in the US dollar is surely cooking a depreciating story for the Rupee in the upcoming time. Overall, we expect the pair to trade in the range of 74.40 to 75.30 with an upside bias. If 75.30 is taken out then there one can expect a move towards 75.60 and 76.00 levels. Amit Pabari, managing director, CR Forex Advisors
Adani Wilmar shares made a weak listing on exchanges on 8 February 2022, as stocks opened 3.91% down at Rs 221 apiece from issue price at Rs 230 per share. At listing, the market capitalisation of the company stood at Rs 28,722.90 crore, according to BSE. This is the second company to list on bourses in calendar year 2022, after the AGS Transact Technologies made its stock market debut on 31st January. The public issue of Adani Wilmar comprised only fresh issue of equity shares.
Power Grid Corporation of India, State Bank of India (SBI), NTPC, Housing Development Finance Corporation (HDFC), IndusInd Bank, TCS were among top index draggers
Maruti Suzuki, Tata Steel, Titan Company, Bajaj Finserv, Wipro, Reliance Industries Ltd (RIL), Sun Pharma, were among top BSE Sensex gainers.
BSE Sensex gained over 100 points to trade at 57,777, while Nifty 50 index crossed 17250 levels
BSE Sensex gained over 100 points, while Nifty 50 crossed 17250 level in the pre-opening session on Tuesday
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices continue to remain the same on February 8 with oil marketing companies (OMC) keeping prices steady. Petrol in the National Capital of Delhi currently retails at Rs 95.41 per litre while diesel in the city is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel cost Rs 109.98 and Rs 94.14, respectively. Fuel prices have been stable since the central government cut excise duty to bring down retail rates from record highs in November last year. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
Nifty remained firmly in the bears' grip as the benchmark fell below the support of 17400. On the lower end, the index fell towards 17100 before closing just above 17200, which is two-thirds of the previous rally. Going ahead, Nifty may find resistance at 17400; as long as it remains below 17400, we may see weakness in the market. On the lower end a closing basis support is pegged at 17000. Rupak De, Senior Technical Analyst at LKP Securities
We are anticipating the momentum in the opening of new retail broking accounts to get a boost on observing the interest that the LIC IPO is generating. 25 crore LIC policyholders and eight crore Demat accounts are currently present in India. With the government's decision to reserve 10% of the total issue for policyholders, we are expecting some discount to the issue price for policyholders. Most importantly, policyholders will need to update their PAN number on the LIC website and link it to their policy number. There will also be a need to open a Demat account to ensure that LIC shares are credited into their accounts. Arijit Malakar, Head of Retail Equity Research, Ashika Group
Expect volatility and choppiness to be the hallmark at Dalal Street in the near term due to Russia's military incursion into Ukraine and US Federal Reserve's aggressive statements on its rate hike decision going ahead. Caution will continue to be the order of the day and any intraday rallies are likely to be stomach-churning. Expect the session to be a bit rocky, slightly painful as investors’ seen sensing concerns of inflation on backdrop of rising oil prices. If the oil prices rise above $110 per barrel then simply expect Nifty to slip swiftly towards its December 2021 lows at 16410 mark. Prashanth Tapse, Vice President (Research), Mehta Equities
Finance minister Nirmala Sitharaman will address the central board of the Reserve Bank of India (RBI) in a crucial meeting on February 14, in which she will likely cast light on the Budget’s focus on capital asset creation to spur economic growth without exacerbating inflationary pressure. Separately, the minister will address the board of stock and commodity markets regulator Sebi on February 15, official sources told FE.
Stocks were mixed Tuesday and bonds were again on the back foot as traders calibrated risks from a global wave of monetary tightening. Shares rose in Japan but dipped in China and Hong Kong. S&P 500 and Nasdaq 100 futures were little changed. Wall Street on Monday ended a choppy session in the red, dragged down by technology stocks such as Meta Platforms Inc.
Wall Street shares finished broadly lower on Monday, while European stocks rose following five straight weeks of declines and European bond yields soared on speculation of monetary tightening. Markets are on alert for rate rises in both the euro zone and the United States after the ECB last week was considered to have adopted a more hawkish tone. The United States reported stronger-than-expected jobs and earnings data.
Domestic markets extended their losing streak on Monday as benchmark indices closed deep in the red. S&P BSE Sensex shed 1,023 points or 1.75% to end the day at 57,621 while the NSE Nifty 50 index tanked 302 points or 1.73% to settle at 17,213. Ahead of Tuesday’s trade SGX Nifty was up with marginal gains, hinting at a tepid start to the day’s trade. Global cues were mixed during the early hours of trade. On Wall Street, Dow Jones closed flat with no change while S&P 500 and NASDAQ ended in the red. Among Asian markets, Hang Seng and Shanghai Composite were in red while Nikkei 225, TOPIX, KOSPI, and KOSDAQ were in the green.
Adani Wilmar, whose IPO got 17 times subscription, is scheduled to make its stock market debut on Tuesday, 8 February 2022. Owing to the global sell-off and dampened sentiments in the primary market, the IPO received a moderate response. “Adani Wilmar, a market leader in the branded edible oil and packaged food industries, is expected to give listing gains around 15 to 20 percent. Since the issue witnessed moderate response due to ongoing negative sentiments and volatility in the secondary market, we expect it to list in the range of Rs 260-265,” Likhita Chepa, Senior Research Analyst at CapitalVia Global Research, told Financial Express Online.