Share Market News Today | Sensex, Nifty, Share Prices Highlight: Domestic indices NSE Nifty 50 and Sensex closed in the red on Thursday, with Nifty 50 settling under 18,800, down 85 points at 18,771. Sensex closed at 63,238, down 0.45%. The broader markets closed largely in the red, as Nifty Smallcap 100 tanked 0.76% and Nifty Midcap 100 slipped 1.06%. Nifty Next 50 fell 1.18%. Sectorally, Nifty Media and Nifty Metal were the only indices that closed marginally higher, while the rest settled in the red. Bank Nifty ended at 43,724 while Nifty PSU Bank crashed 1.67%.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates on 22 June, 2023
"The head index saw a muted opening for the trading day and marked its intraday high at 18886 and failed to mark the life highs by 2 points. The index succumbed to selling within the opening hour and the price action tanked despite a minor pullback. The index now has immediate support at 10 DEMA trading near 18742."
- Riches Vanara, Technical And Derivatives Analyst, Stoxbox
Divi's Lab, L&T, Tata Steel, HDFC and HDFC Bank were the top gainers on the NSE Nifty 50 index. Bajaj Finance, Tata Consumer, Asian Paints, Tata Motors and Power Grid were the biggest laggards.
On Thursday, both the domestic indices, NSE Nifty 50 and Sensex, ended the day in negative territory. The Nifty 50 settled below 18,800, falling 85 points to reach 18,771. Meanwhile, Sensex concluded at 63,238, tanking 0.45%.
After gyrating between red and green, Nifty 50 sank to 18,778, giving up the 18,800 level. However, the index regained around 50 points to trade near 18,825.
Nifty Next 50 traded with deep cuts, 1% lower. Cholamandalam Investment & Finance, PI Industries and IRCTC are the laggards on the index, contributing to heavy losses.
The Nifty PSU Bank index crashes 1.53%, with Punjab National Bank, Bank of Baroda and UCO Bank leading the losses. All constituents traded in the red.
"The Indian automotive components sector will clock 10-12% growth in revenue in fiscal 2024, riding on continuing domestic growth buoyed by robust demand from original equipment manufacturers (OEMs)1 on the back of high base of past fiscals, and steady aftermarket demand. This is despite exports continuing to remain sluggish."
- CRISIL
India’s exports and imports of organic and inorganic chemicals recovered modestly month-on-month in May 2023, but remained significantly lower on-year. Exports fell 12.7% on-year (albeit up 4.4% MoM), while imports decreased 20.3% on-year (up 9.8% MoM) in USD terms.
"In terms of price levels, not much has changed, and the immediate support zone remains at 18,700 - 18,600. On the upside, 18,940 - 19,000 can be considered as immediate resistance for the weekly expiry session."
- Sameet Chavan, Head Research, Technical and Derivatives, Angel One
"COMEX Gold prices pared early losses and closed marginally down on Wednesday, tracking movement in the greenback. The yellow metal declined after Federal Reserve Chair Jerome Powell said that policymakers expect interest rates will need to move higher to contain price pressures. Powell said two more hikes this year is “a pretty good guess” in his semi-annual testimony to Congress on Wednesday. However, gold prices recovered from some of the early weakness amid dovish comments from Fed officials who came after Powell."
- Ravindra Rao, CMT, EPAT, VP-Head Commodity Research, Kotak Securities
Delhivery stock price jumps 7.1% to Rs 416.25 apiece as 1.8 crore shares exchange hands in a block deal amid reports of Carlyle offloading its entire 2.53% stake in the internet logistics firm.
"Nifty weekly contract has highest open interest at 19000 for Calls and 18800 for Puts while monthly contracts have highest open interest at 19000 for Calls and 18800 for Puts. Highest new OI addition was seen at 18900 for Calls and 18800 for Puts in weekly and at 18900 for Calls and 18800 for Puts in monthly contracts."
- Anand James, Chief Market Strategist, Geojit Financial Services
Sensex hit a fresh high for the second consecutive day at 63,601.7, before trading in the red. The broader Nifty 50 index opened at 18,853 before falling to 18,830.
"Aggressive put writing & huge OI observed in the strike of 18,800 may provide support for Nifty in the 18,760-18,800 zone. Overall performance from major sectors is holding the grip on a rotational basis. We expect benchmark indices to test a new high this week."
- Om Mehra, Equity Research Analyst, Choice Broking
Sensex touched fresh highs in the pre-open session, at 63,691, but pared gains to end the session at 63,601 while Nifty 50 was a whisker-away from its lifetime high of 18,887.6 before ending the session flat, marginally in the red.
“Markets are likely to ease in early trades Thursday amid weak US and Asian indices, while a hawkish Federal Reserve backdrop could fuel some volatility."
- Prashanth Tapse, Senior VP (Research), Mehta Equities
"Late monsoons have sparked worries among traders as this could be a sign of increased retail inflation which eased in May to a 25-month low of 4.25%. Delayed sowing in key agricultural regions of Central India is likely to impact yield. As of 21st June, the monsoon is 33% below normal. However, the IMD has indicated that the Southwest monsoon is expected to revive and progress further in the coming days."
- Mitul Shah, Head of Research, Reliance Securities
Support: 18,840 - 18,790 - 18,730
Resistance: 18,887 - 19,000 - 19,100
The National Stock Exchange has Hindustan Aeronautics (HAL), Hindustan Copper, Bharat Heavy Electricals (BHEL), L&T Finance Holdings, Punjab National Bank, and Delta Corp securities on its F&O ban list for 22 June.
Foreign institutional investors (FII) net purchased shares worth net Rs 4,013.10 crore, while domestic institutional investors (DII) net bought shares worth net Rs 550.36 crore on June 21, according to the provisional data available on the NSE.
Shares in the Asia-Pacific region were trading in the red on Thursday, following negative cues from Wall Street. China’s Shanghai Composite tanked 1.31% in trade, while Japan’s Nikkei 225 slipped 0.13%. Hong Kong’s Hang Seng index crashed 1.98% while South Korea’s Kospi was higher by 0.44%. The Taiwan Weighted index recorded minor gains of 0.1%.
In his testimony to the US Congress, Federal Reserve Chair Jerome Powell said the fight to lower inflation still has a “long way” to go, suggesting further action from the US Fed. His hawkish stance spooked the US markets, which ended lower on Wednesday.