Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices ended Thursday’s session broadly in green. The NSE Nifty 50 jumped 101.45 points or 0.57% to 17,915.05 and BSE Sensex surged 348.80 points or 0.58% to 60,649.38. In sectoral indices, Bank Nifty surged 170.95 points or 0.40% to 43,000.85, Nifty Auto climbed 99.05 points or 0.76% to 13,071.8 and Nifty IT skyrocketed 290.25 points or 1.07% to 27,355.25. The top gainers on Nifty 50 were Bajaj Auto, Bajaj Finance, SBI Life, Bajaj Finserv and UPL while the top laggards were HDFC Life, Hindustan Unilever Ltd, ONGC, Axis Bank and Power Grid.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market Highlights
“Bank Nifty on the daily timeframe is seen to be continuing the bullish trend as bulls inch closer to 43000. The options data suggests short covering and the undertone remains bullish as long as Bank Nifty holds the levels of 42800 as put writers are fiercely active on 42800, 42600 and 42500 and call writers are active on 42900 and 43000. Bank Nifty support placed at 42700, 42600 and 42500. Resistance seen at 42900, 43000 and 43300,” said Mitesh Karwa Research Analyst at Bonanza Portfolio Ltd.
“In the short term, the Bank Nifty trend remains bullish with the new range for traders being 42500-43000, where writers have significant build-up. On the lower end, a fall below 42500 may trigger panic in the banking space; whereas on the higher end, a decisive rise above 43000 may induce further rally,” said Rupak De, Senior Technical Analyst at LKP Securities.
Bank Nifty first support at 42566 and then 42472 and resistance at 42803 and 42946, according to Rahul Sharma, JM Financial.
“The Nifty crucial support zone to watch out for is 17700–17680 and on the upside 17860 – 17880 shall act as an immediate hurdle zone and a break above that shall lead to a sharp rise towards the 18000 psychological mark. Overall, we shall continue to maintain our positive stance from a short-term perspective for the target of 18100,” said Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.
“Nifty momentum remains strong and one should keep a buy approach and expect targets of 18,000/18,200 in the near term. The monthly expiry indicates resistance at 18,000 where the highest open interest is built up on the call side,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
“Overall structure shows that the Nifty is likely to witness consolidation or profit booking from higher levels. However, an attempt to test 17950-18000 can be ruled out. Traders may find buying opportunities if the 17700 level is protected. OI Data indicates, on the call side the highest OI is witnessed at 18000 followed by 17900 strike prices while on the put side, the highest OI remains at 17700 followed by 17600 strike prices,” said Om Mehra, Equity Research Analyst at Choice Broking.
“We would see Nifty surpassing the sturdy wall around 17900 to challenge the next cluster of resistance around 18000 – 18200. For the coming session, 17750 followed by 17700 would be seen as a strong support zone and on the flipside, 17850 – 17900 are the levels to watch out for. Since it’s a monthly expiry day, some volatility cannot be ruled out,” said Sameet Chavan, Head Research – Technical and Derivatives, Angel One Ltd.
Nifty first support at 17731 and then 17687 while the resistance at 17822 and 17867, according to Rahul Sharma, JM Financial.
The National Stock Exchange has ZEEL and GNFC securities on its F&O ban list for 27 April. According to the NSE, stocks are prohibited in the F&O sector when they have exceeded 95% of the market-wide position limit (MWPL). During the F&O ban period, no new positions are permitted for F&O contracts in that stock.
Foreign institutional investors (FII) purchased shares worth a net Rs 1,257.48 crore, while domestic institutional investors (DII) purchased equities worth a net Rs 227.88 crore on 26 April, according to the provisional data available on the NSE.
Oil prices rose on Thursday, paring earlier losses that were fuelled by U.S. recession fear and increased Russian oil exports dulling the impact of OPEC production cuts. Brent crude was trading at $78.04 a barrel, up 35 cents, or 0.45%, at 0039 GMT. U.S. West Texas Intermediate crude was at $74.51 a barrel, adding 21 cents, or 0.28%.
The US market ended the overnight session mostly in red– Dow Jones Industrial Average (DJIA) fell 0.68%, S&P 500 tumbled 0.38% and the tech-heavy Nasdaq jumped 0.47%.
Asian markets were trading mostly in red with South Korea’s KOSPI falling 0.31%, Hong Kong’s Hang Seng down 0.32%, Japan’s Nikkei 225 down 0.32% and China’s Shanghai Composite Index up 0.02%.
The Nifty futures on the Singapore Exchange (SGX) were trading 33 points or 0.19% lower at 17,796 in the early morning trade today.