Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic stock markets tanked during this week’s first trading session. S&P BSE Sensex fell 503 points or 0.86% to settle at 58,283 while the NSE Nifty 50 index dropped 143 points or 0.82% to close at 17,368. Broader markets and Bank Nifty mirrored the fall. India VIX, on the other hand, closed 3.18% higher at 16.57 levels. Reliance Industries and HDFC along with HDFC Bank were among the top drags on Sensex. Axis Bank was the top gainer, ip 2.38% followed by Tech Mahindra, up 2.2%.
Share Market Highlights: Sensex ends 503 pts lower at 58,283, Nifty at 17,368, holds above support levels
Share Market News Today | Sensex, Nifty, Share Prices Highlights: Dalal Street benchmark indices slipped from intraday highs to end Monday’s trading session in the red.
Highlights
Shriram Transport Finance Limited and Shriram City Union Finance, and their Promoter entity Shriram Capital Limited (SCL) announced that the boards of directors of three companies at their respective board meetings held on December 13, 2021, approved their merger. The merger is subject to the approval of shareholders of SCL, SCUF and STFC respectively, regulatory approvals of RBI, CCI, IRDA, NHB, NCLT and such other regulatory approvals as may be required.
Dalal Street benchmark indices slipped from intraday highs to end Monday’s trading session in the red. Bank Nifty ended 0.49% lower India VIX jumped 3.18%.
Reliance Industries along with the HDFC twins were the top drags on Sensex. The benchmark index was down in the red on Monday after with minutes left ahead of the closing bell.
The Bank Nifty index was up in the green on Monday afternoon while Sensex and Nifty trade with losses. Bank Nifty was hovering around 37,100.
Sensex was down more than 400 points on Monday afternoon while Nifty fell over 100 points. Both the headline indices had started the day in the positive territory.
During the (previous) week, we did participate in the relief move but directionally, we are still a bit sceptical whether the market has enough strength to surpass the higher boundary of this range. Hence, one needs to now start lightening up longs if Nifty extends the relief move in the coming sessions. On the flip side, we sense the base has shifted higher and the bullish gap left on Wednesday at 17250 - 17300 is to be seen as key support. We witnessed many astonishing moves in midcap and small-cap stocks and traders can continue with the stock-centric approach; however they need to be very selective going ahead as we are approaching the resistance zone.
~ Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One
Equity benchmarks extended pullback over a second consecutive week backed by firm global cues. Nifty ended the week at 17511, up 1.8%. In the process, the broader market relatively outperformed the benchmark as Nifty midcap, small-cap surged 3% and 4%, respectively. Sectorally, metal, auto, realty remained at the forefront while pharma took a breather.
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Bulls are attempting to take the charge once again. Nifty gained week over week and showed signs of recovery in the market. During the week big event RBI policy in which accommodative stand by policymakers gave the booster to the financials and came back to flavour. After a deep sell-off in November in financial stocks, we saw a good pullback.
"Friday's close was just at the brink of 17500 which was a positive sign. If we can keep above this level today, the markets are heading higher to levels closer to 18200. This is also a point where the Nifty may resist and if that happens there could be a knee jerk reaction on the reverse side. Hence, today's closing is imperative," said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Tega Industries shares made a stellar debut on the stock exchanges today amid bullish market breadth. Shares of the industrial machinery firm began trading at Rs 753 per share or Rs 300 or 66.23% above the IPO price of Rs 453 per share.
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Dalal Street headline indices opened in the green on Monday morning amid positive global cues. Bank Nifty was up almost 1% while India VIX was down 3.4%.
"Nifty immediate target is seen at 17,650around which some resistance can be expected. However, if this level is taken out, expect fresh longs to emerge which can take the Nifty to 18,000 by the month’s end," said Rahul Sharma, Director & Head - Research, JM Financial.
Both Sensex and Nifty were up in the green on Monday morning during the pre-open session. Sensex reclaimed the 59000 mark.
Sensex was up in the green during the pre-open session while NSE Nifty 50 was trading with a negative bias as headline indices moved in separate directions in the initial minutes of pre-open.
Benchmark index closed in the green for the second consecutive week after forming a bullish harami candlestick pattern in its previous week’s candle. A positive closing after forming a bullish candlestick pattern indicates a confirmation for the said pattern.The lower high lower low formation will be neglected only above 17700 levels till then this can be considered as a short term pullback. On the weekly chart, prices have found support near their 21-week exponential moving average which is acting as an anchor point for the index.
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Historically it is seen that the Nifty finds it difficult to move up sharply when it's cost-of-carry at higher side.. So more consolidation is expected till this premium doesn't start getting lower. The Call writer's positions are still lower than Put writer's which means the declines in the index should be arrested and it should be more stock specific market
For the coming session, the trading spot band is between 17650 and 17370, which means further upsides are likely once the immediate resistances of 17650 are taken out and weakness could emerge if the supports of 17370 are broken.
~ Raushan Kumar, Derivative Analyst, IIFL Securities
Nifty has emerged from its lows but has moved range-bound in the last few trading sessions. “Nifty showing range movement at the important hurdle of 17550-17600 levels could be a positive indication for the bulls to make a comeback. Hence, this consolidation movement at the important resistance could eventually result in an upside breakout of the resistance in the near term,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. He added that the short term trend of Nifty continues to be range bound with support near 17400-17380.
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The index of industrial production (IIP) grew 3.2% in October, compared with 3.3% in September and 12% in August, as a purported rise in demand in the build-up to Diwali was blunted by supply bottlenecks in key sectors, including automobiles. Of course, a relatively unfavourable base (IIP had risen 4.5% in October 2020) also weighed down growth.
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The coming week is going to be critical for the markets as we have some important data and events are lined up. First, participants will react to the IIP data on Monday. Both CPI and WPI inflation data are also scheduled in the following sessions. The primary market will see 3 IPOs, HP Adhesives, Data Patterns, Medplus Health Services, opening for subscription next week. Importantly, we have the US Fed meet also scheduled and they will announce the outcome on December 15. Apart from these data, the updates on the global COVID situation will remain on participants’ radar.
~ Ajit Mishra, VP Research. Religare Broking
Domestic macroeconomic data announcements and the US Federal Reserve’s interest rate decision are the major events to drive sentiments in the equity market this week, analysts said. “The market will remain busy this week to deal with outcomes of the policy of global central banks where the decision of the US Fed will be the most important. European Central Bank, Bank of England and Bank of Japan will also come out with their monetary policies this wee
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SGX Nifty was up in the green on Monday morning. Nifty futures were up more than 100 points during the early hours of trade.