Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and NSE Nifty 50 ended flat with a negative bias on Monday. S&P BSE Sensex fell 87 points or 0.16 per cent down at 54,395, while NSE Nifty 50 settled at 16216, down 4 points. Stocks of Bharti Airtel, Tata Consultancy Services (TCS), HCL Tech, Infosys, Wipro, HUL, State Bank of India (SBI) ended up to 5 per cent down. On the flip side, Tata Steel was the top BSE Sensex gainer, followed by M&M, Dr Reddy’s, ICICI Bank, Asian Paints, ICICI Bank, Axis Bank, Reliance Industries, among others. India VIX, settled 0.14 per cent down, at 18.37 levels
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S&P BSE Sensex fell 87 points or 0.16 per cent down at 54,395, while NSE Nifty 50 settled at 16216, down 4 points
Cab-aggregator Uber had directed its employees to ignore Indian authorities and devised internal mechanisms to keep them at bay in case of any regulatory concerns, leaked emails and confidential documents accessed by The Indian Express have revealed. The company had pushed a “kill-switch” mechanism across markets, including India, in case of an emergency, such as a tax raid, wherein the company would shut down its system in order to prevent government officials from accessing any of its records. The company further instructed its employees in India to remain “unresponsive” to the Indian authorities and not cooperate with them, should they raise any concern.
Bharti Airtel share price was down 5% just before the closing bell bell. The stock was trading at Rs 660 per share. It was the worst performing stock among the Sensex constituents.
With less than an hour left before the closing bell, Sensex and Nifty trimmed gains and began trading flat with marginal gains.
A tranquil business of currency trading has now been jumbled to high volatility due to war, soaring inflation, central banks tightening at vastly different speeds, and recessionary fears. A flight to safety has pushed the US dollar up and driven the currencies around the world to their lowest levels in years, as economic prospects in Europe, UK, and elsewhere are darkening amid soaring energy prices. Read full story
Dr Reddy’s Laboratories share price jumped 3.7 per cent to Rs 4,568 apiece on BSE in Monday’s otherwise weak market. This jump in share price came after the company launched a generic version of fesoterodine fumarate extended-release tablets to treat overactive bladder in the US market. Analysts say that the stock is showing strength on its daily and intraday charts, with a probability of a strong up trend in near term. Read full story
Today, we are witnessing long built up in stocks like Nam India, UBL, Coalindia, Dr Reddy and M&M fin etc. while short build-up is visible in counters like TCS, Hcltech, Rain and Bharti Airtel etc. Chandan Taparia, Vice President, Equity Derivatives and Technical, Broking & Distribution, Motilal Oswal Financial Services
We retain our positive view on the Auto sector, underpinned by expectations of a cyclical upturn over the next three years. We prefer TTMT (TP: Rs530), MSIL (TP: Rs9,650), MM (TP: Rs1,390) and ESC (TP: Rs2,140). We downgrade BJAUT to Hold with a revised TP of Rs 4,100, factoring in a weak outlook for the overseas business and limited upside potential. Key downside risks: continuation of supply issues, weak global/domestic macros, further increase in commodity prices and adverse currency movements. Emkay Global Financial Services
Nifty and Bank Nifty are consolidating in a range and Bank nifty is relatively showing strength. Any dip should be utilised as a buying opportunity for higher levels. At current juncture, we are advising to be with selective stocks and one can look for buying opportunity in M&M Fin, Dr Reddy, HDFC Bank etc. Chandan Taparia, Vice President, Equity Derivatives and Technical, Broking & Distribution, Motilal Oswal Financial Services
Domestic headline indices were trading with losses on Monday amid weak global cues. S&P BSE Sensex was down nearly 300 points or 0.54% to hover around 54,186 while the NSE Nifty 50 index was holding above 16,100, down 0.52%. The volatility index was seen moving higher as benchmark indices slipped. India VIX was up nearly 3% but still shy of regaining 19 levels. While Sensex and Nifty lagged, as many as 107 stocks on the BSE rose to touch new 52-week highs while 28 were down at new lows. Among those at fresh highs were ITC, Siemens, and Coromandel International.
The Adani Group’s entry into the 5G spectrum race has spooked Bharti Airtel Ltd investors and the stock has witnessed an enormous sell-off today. This move is expected to increase competition, especially in the Enterprise services segment; however, there will be no impact on the consumer side of the business as the Adani Group clarified on Saturday that the intention to enter the telecom business is not aimed at consumer communication services, but to use 5G spectrum, if awarded for private network solutions. Nonetheless, we are positive on Bharti Airtel Ltd. as the company’s EBITDA margins are expected to rise due to further tariff hikes; this will further improve the company’s ability to generate free cash flows and deleverage its balance sheet. Additionally, the financial position remains strong and the outlay in the upcoming 5g auctions is expected to be reasonable. Punit Patni, Equity Research Analyst, Swastika Investmart
“Rupee continued to remain under pressure as the dollar rose sharply against its major crosses after better-than-expected NFP number from the US. Weakness continued to prevail for the rupee despite measures introduced by RBI last week. Inflation number on the domestic front and the US will be released this week and a higher number could cement expectation of further rate hike by the central bank. We expect the USDINR (spot) to trade with a positive bias and quote in the range of 79.05 and 79.80 in the short term,” said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.
Radhakishan Damani’s Avenue Supermarts (DMart) share price jumped nearly 4 per cent to Rs 4,091.90 apiece on Monday, after the company reported nearly six-fold rise in Q1 profit. Avenue Supermarts posted a 490.30 per cent year-on-year rise in standalone net profit at Rs 680 crore for the June quarter compared with Rs 115 crore in the same quarter last year. Analysts say despite Avenue Supermarts best quarterly results ever where all Street estimates in terms of revenue, profit were beaten, the strong results have already been factored in the recent up trend. Analysts have mixed views on the stock after the company released its Q1FY23 earnings. Read full story
USDINR is poised for rapid ascent to 79.9, followed by 81, with downside risk marker placed at 78.9or 78.5. Intraday, inability to float above 79.25 could prompt slippages until 79.11 before bargain buying resurfaces. Anand James – Chief Market Strategist at Geojit Financial Services
TCS share price tumbled on Monday morning as investors reacted to the IT major’s April-June quarterly performance. TCS stock price dived 4.7% to hit Rs 3,111 per share amid weak market sentiment. The company reported a constant currency (CC) revenue growth of 3.5% in the June quarter, which is seen to be weak compared to the 14.3% in the previous quarter. Attrition continues to weigh down on TCS, clocking in at 19.7% – a rise of 230 basis points sequentially. In the April-June period, the IT firm added 14,136 employees to its rolls. Analysts are mixed in their assessment of the quarterly performance of TCS.
“On the technical front, the key resistance level for Nifty 50 is 16,300 and on the downside, 16,100 can act as strong support. The key support and resistance levels for Bank Nifty are 34,800 and 35,500 respectively,” said Mohit Nigam, Head – PMS, Hem Securities.
TCS shares were among the worst-performing stocks on Monday morning on Sensex. The IT major was down 4.4% to trade at Rs 3,121 per share. While some analysts have trimmed their estimates and target prices, others have maintained their outlook.
Risk is skewed toward a weaker rupee even after multiple measures from the central bank and government, as capital outflows along with weaker macro. In the week gone, the rupee depreciated 21 paise to 79.25 after marking a life low of 79.38. Technically, the rupee has been in a downtrend and a level below 79.40 could open for 80 and much more while gaining above 78.50 will negate the said view. Read full story
Commodity prices traded lower with most of the commodities in the non-agro segment extending downside as a stronger dollar lowered the bargaining power. Bullion prices declined on market expectations of aggressive FED in the July meeting. Base metals traded weak on lower demand from China along with a stronger dollar. Crude oil prices traded down on slowdown fears and weaker demand expectations.
Nifty IT index lost 2.3 per cent. Nifty Auto, Nifty FMCG, Nifty Pharma, Nifty Healthcare, Nifty Consumer Durables were among other Nifty sectoral losers
Stocks of NTPC, Mahindra & Mahindra (M&M), Power Grid Corporation of India, ICICI Bank, Axis Bank, HDFC Bank were among top BSE Sensex gainers
Bharti Airtel was top BSE Sensex loser, down 3 per cent, followed by TCS, Wipro, Tech Mahindra, HCL Tech, Infosys, among others.
BSE Sensex fell more than 300 points or 0.5 per cent to 54,198, while NSE Nifty 50 gave up 16150 level
In line with our view, NSE Nifty 50 resolved higher and surpassed our intermediate target of 16200 on the backdrop of sharp decline in crude oil prices and India VIX that supported bullish sentiment. The index started the week on a positive note and endured its upward momentum during the week, despite global volatility. As a result, weekly price action formed a bull candle carrying higher high-low, indicating continuance of positive momentum. Read full story
BSE Sensex fell more than 200 points to 54,249, while NSE Nifty 50 gave up 16150 level in pre-opening session on Monday
Markets back in the grips of long-awaited bulls, Equity benchmark index posted its best weekly advance since April as decline in commodity prices eased some concerns of higher inflation and tighter monetary policy measures. Sensex gained 3% or 1574 points to close at 54482 while Nifty surged by 469 points to close at 16221 against the previous week. Banking, finance, FMCG and Realty stocks were major gainers this week. The recovery in Nifty (gained 7%) from their recent lows indicates the resilience of the markets and its potential to scale higher under a favorable macro construct. The present rally is driven partly by expectations that given the steady decline in commodity prices inflation will start showing a declining trend enabling central banks to go a bit slow on hiking rates, and partly by short covering.
The chart pattern suggests that if Nifty crosses and sustains above 16300 levels it would witness buying which would lead the index towards 16500-16700 levels. However if the index breaks below 16000 level it would witness profit booking which would take the index towards 15800-15600. For the week, we expect the Nifty to trade in the range of 16600-16000 with a positive bias. The daily and weekly strength indicator RSI is moving upwards and is quoting above its reference line indicating positive bias. Read full story
Despite the volatility in the benchmark index, bulls find their way to control the trend and traded higher with a gain of more than two and a half per cent on the weekly chart, closing above the 16100 levels. The Nifty is sustaining above its 4 weeks highs, which indicates positivity of the prices. On the daily chart too index is trading in a higher bottom higher top formation.
Domestic stock markets look to enter Monday’s trading session on the back of consecutive days of bullish momentum. S&P BSE Sensex is currently at 54,481 points after gaining 0.56% on Friday while the NSE Nifty 50 index is at 16,220 after bulls pulled the index 0.54% or 87.70 points higher. India VIX, the volatility gauge of domestic indices fell 4% to sit below 19 levels. Ahead of Monday’s trade, SGX Nifty was down with losses, suggesting a weak start to the day’s trade. Global cues were mixed after Wall Street indices closed in either direction on Friday.
FII’s positions in index future shorts have declined sharply from extreme situations of previous month, and this was one for surmises expecting 16200 last week. However, their boosting of Index future longs has not been commensurate with the expansion in the index future segment, with larger increases done by proprietary traders and retailers, even as FII’s index future longs remained well below July average. Read full story
Bulls asserted control on Dalal Street on Friday, forcing the headline indices to close with gains for the third day straight. S&P BSE Sensex zoomed 303 points or 0.56% to settle at 54,481 while NSE Nifty 50 index ended at 16,220, gaining 87.70 points or 0.54%. L&T stock price gained 4.56% as the top Sensex gainer, followed by Power Grid, and NTPC. Tata Steel was the top laggard, down 1.6%, accompanied by Maruti Suzuki, and IndusInd Bank. TCS closed 0.61% lower ahead of its Q1 results. India VIX was down 4%, giving up 19 levels while Bank Nifty ended at 35,124. Read full story
“This week, participants will first react to TCS numbers. Besides, macroeconomic data viz. IIP and CPI on July 12 and WPI on July 14 will be in focus. Apart from domestic factors, global cues like performance of the US markets, crude movement etc will remain on the radar,” said Ajit Mishra, VP – Research, Religare Broking Ltd. Read full story
Nifty futures were ruling 88.50 points or 0.6 per cent down at 16,139 on Singaporean Exchange.
Exuding confidence that the price situation will gradually improve in the second half of the current fiscal, RBI Governor Shaktikanta Das on Saturday said the central bank would continue to take monetary measures to anchor inflation with a view to achieving strong and sustainable growth. Read full story
While demand held up fairly well and the services sector did see a big bounce in June, supply-side shortages and high raw material cost hurt production and margins, respectively. The sales and profit numbers will, of course, look very good when compared with the weak June, 2021 quarter when business was badly hit by the second wave of Covid-19. The benefits from cooling commodity prices would be seen in the September quarter results. Read full story