Share Market News Today | Sensex, Nifty, Share Prices Highlights: Equity benchmark indices reached fresh all-time highs on Friday but failed to hold and scaled lower as the day progressed. On the closing bell, Sensex was at 52,474 while the Nifty 50 index was at 15,799. Index heavyweights such as Axis Bank, ICICI Bank, and SBI were all in the negative territory. Dr Reddy’s, Power Grid, TCS, HCL Tech, and Infosys were the top gainers on Sensex. Broader markets mirrored the up-trend. India VIX, the volatility gauge was down 6% on closing. Bank Nifty ended in the red.
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After scaling fresh all-time highs on Friday morning, Sensex and Nifty trimmed some advance but managed to close the day’s trade in the positive territory. S&P BSE Sensex was at 52,474 on closing while the Nifty 50 index was at 15,799 -- the highest closing levels for both the indices. Among the top gainers were Dr Reddy's, Power Grid, TCS, HCL Tech, and Infosys. Among the laggard were Larsen & Toubro, IndusInd Bank, Bajaj Finserv, Bharti Airtel, and ICICI Bank. The Nifty Bank index closed in red. The volatility index continued to fall, ending the day 6% lower. Broader markets mirrored the up-trend and closed in green.
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Sensex and Nifty scaled down from all-time highs on Friday but managed to close in the green. Bank stocks were among the top laggards.
The nifty Metal index is up more than 2.5% just ahead of the closing bell on Friday. SAIL, Tata Steel, and Jindal Steel are all up more than 4% each.
Bajaj Finance share price gained as much as 2.3 per cent to hit a record high of Rs 6,228.60 apiece in intraday on BSE. The stock has soared over 183 per cent in a span of one year. The gains in the index heavyweight were on the back of unlocking the economy. Analysts believe that this will lead to faster recovery and lower NPA. Bajaj Finance has been performing consistently for the last three quarters. Analysts believe Bajaj Finance stock may rally up to 10 per cent more. American brokerage BofA Securities has given a ‘buy’ rating to the stock.
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With a few minutes left before the day's closing bell, Bank Nifty was still trading in the red. The index was down 0.26%, led by IndusInd Bank, PNB, ICICI Bank, Axis Bank, and SBI.
India VIX, the volatility index, was down 6% on Friday. Often called the fear gauge of domestic markets, India VIX was nearing 14 levels ahead of the closing bell.
Moody's Investors Service has affirmed the Ba1 corporate family rating (CFR) of Tata Chemicals Limited (TCL). The rating outlook remains stable. "The rating affirmation reflects the likely recovery in TCL's consolidated revenue and profitability from the trough during the pandemic fallout in the fiscal year ending March 2021. We expect the recovery to sustain over the upcoming 12 to 18 months, strengthening TCL's debt/EBITDA leverage to comfortably below 4.5x and EBITA margin towards 20%," says Kaustubh Chaubal a Moody's Vice President and Senior Credit Officer.
By the end of Q1 2021, the POS terminal count came down from all-time high figure of 6.03 million in January 2021 to 4.72 million in March 2021. The data likely reflected a more realistic number of terminals deployed. Private sector banks represented about 67% of the POS terminal market while public sector banks account for 27%. Payments banks accounted for 5% market share, and foreign banks represented 1%. HDFC bank, State Bank of India, RBL Bank, ICICI Bank and Axis bank were the top acquiring banks to deploy POS terminals. (Worldline India)
Enforcement Directorate (ED) on Friday said it has issued a show-cause notice to cryptocurrency exchange WazirX for foreign exchange management violations.
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TCS, HCL Technologies, and Dr Reddy's were the top Sensex gainers at this hour. TCS was up over 2% while HCL Tech jumped 1.6% and Dr Reddy's gained 1.5%
TCS, HCL Technologies, and Dr Reddy's were the top Sensex gainers at this hour. TCS was up over 2% while HCL Tech jumped 1.6% and Dr Reddy's gained 1.5%
Bank Nifty was down 0.36% after major banking stocks slipped into the negative. SBI, IndusInd Bank, ICICI Bank, and Axis Bank were among the top laggards.
Sensex moved below 52,500 mark but was still trading in the positive territory. Bank stocks were among the laggards.
IT sector valuations on Wall Street now seem to be receding to reasonable levels, after having remained elevated early in 2021, according to Jonathan Curtis Research Analyst, Portfolio Manager, Franklin Equity Group. In a recent blog post, Jonathan Curtis said that valuations of the sector now appear more reasonable in relative terms following the recent period of selling pressure. “We also believe that the sector likely should command a valuation premium to the broader market given the improving quality of companies within the space -- a growing number of recurring revenue sources, strong balance sheets and strong overall EBITDA margins -- and their growth characteristics,” he added.
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IT sector valuations on Wall Street now seem to be receding to reasonable levels, after having remained elevated early in 2021, according to Jonathan Curtis Research Analyst, Portfolio Manager, Franklin Equity Group. In a recent blog post, Jonathan Curtis said that valuations of the sector now appear more reasonable in relative terms following the recent period of selling pressure. “We also believe that the sector likely should command a valuation premium to the broader market given the improving quality of companies within the space -- a growing number of recurring revenue sources, strong balance sheets and strong overall EBITDA margins -- and their growth characteristics,” he added.
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The partly paid shares of Reliance Industries Ltd once again hit fresh record high of Rs 1,598 per share on Friday. The stock was relisted on the bourses yesterday.
Coal India share price surged as high as 5.4 per cent to Rs 164.90 apiece in intraday on BSE, taking the total market capitalisation above Rs 1 lakh crore. Coal India stock surpassed its previous high of Rs 162.95 apiece, touched on February 26 this year. So far this month, the stock of the state-owned company has gained nearly 12 per cent as compared to a 1.3 per cent rise in S&P BSE Sensex. Analysts suggest 13 per cent more rally in the stock. In volume traded terms, 23.47 shares have exchanged on BSE, while a total of 3.18 crore stocks of Coal India have traded on NSE so far in the day.
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"The stock market is solely focused on the future. Hopes of a quick economic revival post unlock and expectation of large number of adult population vaccinated in 2021, are keeping markets excited. Q4 FY21 earnings have been encouraging, even after adjusting for the low base of March 2020. The broader market is very healthy. It is very likely that the top 10 heavyweights of the Sensex, which have been dormant for some time, will begin to participate. Already RIL has resumed its up move after a six month lull. This will add to the strength of Indian equities. Our target for Sensex is 60,000 by December 2021," said Amar Ambani, Senior President & Institutional Research Head, YES Securities.
"Markets have moved from resilience to exuberance as Bulls continue to march towards mount 16,000 in Nifty with sector rotation & earnings keeping the momentum alive. Falling US Bond Yields along with supportive global cues ensure Nifty didn’t break key support levels. Good monsoon, improving Covid situation & falling VIX should keep driving markets higher," said Rahul Sharma - Head, Technical and Derivatives Research, JM Financial Services.
"The debate over the nature of inflation in US - whether transitory or structural - continues. Only time will tell who is right. But for now, the market is strongly on the side of equity bulls who believe that the high inflation is transitory & will soon stabilise. Even though the 5% consumer inflation print in May came worse than the consensus estimate of 4.4 % the market shrugged it off & the S&P 500 touched record highs. The fact that the US 10-year yield crashed to 1.44% and the dollar index is howering around 90 indicate that there is more leg for this bull market. The exuberance in the mid and small-cap space is an area of concern. But markets can over-react proving the sceptics wrong in the short run. In 2017 the small index rose around 60%. The froth was removed in 2018 with big pain to the late entrants. Leading financial, IT, pharma and metals are on a strong wicket. Stay invested in these segments while exercising caution when investing in small-caps," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Positive global markets & reducing Covid cases along with the easing of lockdown in several states has ensured that broader indices like BSE Sensex & Nifty have hit another all-time high today. Technically, Sensex has reached its overbought levels, and investors are advised to keep booking profits at current levels. 52170 will act as strong support for the coming week. AR Ramachandran, Co-founder & Trainer, Tips2Trades
The Nifty Bank index surged 0.22% on Friday morning. AU Small Finance Bank and Bandhan Bank were among the top gainers.
"The Nifty is in fine form this morning - it is heading towards 15900-16000. A buy on dips is a better strategy to adopt as opposed to buying at the current market level. This is because the risk is to reward ratio is more favorable when traders accumulate positions on dips. The risk is lower and the targets are higher. The index has good support at the 15600 levels and until we do not disrespect this level on a closing basis, the overall trend remains bullish," Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.
Dodla Dairy will enter Dalal Street next week to raise Rs 520 crore through an initial public offering (IPO), comprising of a fresh issue of equity shares and an offer for sale by existing shareholders. The IPO is set to open on June 16 and will close on June 18. Investors can bid for shares of Dodla Dairy Limited at the fixed price band of Rs 421-428 per share, in a bid lot of 35 shares and multiples thereafter. The company had filed draft papers with SEBI earlier this year and had received approval from the capital markets regulator to float its public offering in the last week of April.
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Gold prices edged higher on MCX on Friday, as globally yellow metal rates hovered near the key $1,900 per ounce level. On Multi Commodity Exchange, gold August futures were trading Rs 52 up at Rs 49,250 per 10 gram, as against the previous close of Rs 49,198. Silver July futures were ruling Rs 264 or 0.37 per cent higher at Rs 72,263 per kg. Silver futures settled just below the crucial Rs 72,000-mark in the previous session.
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Krishna Institute of Medical Sciences’ Rs 2,143.74-crore initial public offering (IPO) will open for subscription next week on June 16, 2021 in the price band of Rs 815-825 per share. The anchor investor bidding will take place on June 15, 2021. The issue will close for subscription on June 18. The public issue comprises fresh issue of equity shares worth up to Rs 200 crore and offer-for-sale (OFS) of 2.35 crore shares by its existing promoters and shareholders.
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"Stock specific actions due to Q4 results can be witnessed in stocks like BHEL, SUN TV, BEML, Cochin Shipyard, Goa Carbon etc. Immediate resistance levels for Nifty 50 are 15850 and 16000 while key support levels for Nifty 50 are 15500 and 15300. Overall we are quite bullish on markets and believe that any significant dip is a good opportunity to accumulate quality stocks," said Mohit Nigam, Head, PMS - Hem Securities.
Broader markets mirrored the up-trend in benchmark indices. Midcap and Smallcap indices were outperforming headline indices on NSE.
Sensex and Nifty began the day's trade at fresh all-time highs. Nifty reached an all-time high of 15,816 while Sensex soared to sit at 52,566.
Sensex was below 52,500 while Nifty was still shy of 15,800 as the benchmark indices trimmed some gains in the pre-open session.
Long build up in Nifty futures, Unwinding seen in the Bank Nifty Futures & Put writing at 15700 Indicates that one should be optimistic for the markets. Therefore, our advice is to be bullish with the trailing stop loss of 15700 level. On the higher side 15800-16000 level will act as an immediate resistance. In the Bank Nifty, our advice is to buy on decline with SL of 34650 levels. On the higher side, resistance is seen in the vicinity of 35400-36000 levels.
~ HDFC Securities
Sensex and Nifty moved higher during the pre-open session on Friday. Sensex breached the 52,500 mark while Nifty was above 15,800.
SGX Nifty regained momentum and surged 22 points higher. Earlier the index had trimmed gains to sit just 12 points higher.
"Nifty futures witnessed fresh longs (OI +8.7%) while Bank Nifty futures witnessed short-covering (OI -2.9%). Options data is suggesting a range of 15,700 - 16,000. Bank Nifty 35,000 straddle witnessed max build-up. Broad-based recovery along with improving internals suggest more upside for Nifty. Supports at 15,680 and 15,570. Resistance at 15,800 and 16,000. Banks look good," said Rahul Sharma, Head Technical Research, JM Financial.
The maximum PUT open interest (OI) was seen at 15,700 strike, implying a support for Nifty 50 at 15,700 level. This was followed by 15,400 strike. While the highest call OI was seen concentrated at 15,800, followed by 15,750 strike, according to NSE.
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"Markets are keenly eyeing the domestic developments viz. unlocking by states and progress of vaccination programs for cues. Going ahead, we feel the update on the monsoon will also be closely watched by the participants. Amid all this, we reiterate our bullish view and suggest using dips or further consolidation to accumulate quality stocks," said Ajit Mishra, VP - Research, Religare Broking.
"The short term uptrend status of Nifty remains intact and the recent weakness is expected to be overtaken in the short term. A sustainable move above 15800 is expected to open another 200-300 points upside for the market ahead. Crucial support is placed at 15600," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were hiked once again today, after a short one-day pause. Petrol price in Delhi today costs Rs 95.85 per litre, an increase of 29 paise. Meanwhile, the price of diesel in the capital city is retailing at Rs 86.75 pe litre today, up 28 paise since yesterday. Rates have been hikes 23 times now since May 4. The price of petrol in Delhi has increased by Rs 5.30, while diesel price has surged Rs 5.84 per litre since the rate revision began. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
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BSE-listed companies such as BEML, BHEL, CG Power, Cochin Shipyard, DLF, Edelweiss Financial Services, Goa Carbon and Sun TV, among others scheduled to announce their March quarter results on June 11.
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Nifty futures were trading in the green, up 28.25 points at 15,785.80 on Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50 on Friday. In the previous session, S&P BSE Sensex gained 358 points to end at 52,300 while the Nifty 50 index closed at 15,737. India VIX gained 1.7 per cent to settle at 15 level. A host of factors such as monsoon, opening up of the economy in a graded manner and the pace of on-going vaccination. Nifty remains in a positive set up and can see a move towards highs of 16000 zones, technical charts suggest.
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