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
Benchmark indices NSE Nifty and BSE Sensex ended Thursday’s session broadly in green. “The domestic market is gradually shifting towards a positive terrain, supported by FIIs inflows and positive Q4 earnings from banks. On the global front, the US Q1 GDP number which will be unveiled today is anticipated to moderate on a QoQ basis amid concerns over banking contagion and a slowing economy. The next week’s FED policy will be keenly monitored. The FED may further hike by 25bps, but the expectation is that this will represent the peak and a long pause,” said Vinod Nair, Head of Research at Geojit Financial Services.
Wipro share price closed flat at Rs 374.9 ahead of the quarterly results that are scheduled to be announced today. IT major's shares have risen nearly 4% in the past one month while they have fallen 28% in the past one year. At the current price of Rs 374.3, the company’s market capitalisation stands at Rs 2.05 lakh crore. The stock touched a 52-week high of Rs 537.75 on 26 April 2022 and a 52-week low of Rs 352 on 17 April 2023.
Global brokerage firm Citi has raised target price, maintaining a 'buy' call on Paytm. The brokerage firm has hiked its price target on Paytm by 4% to ₹1,103 apiece from earlier ₹1,061 per share. From the current market price, it expects 70% share price return.
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.
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 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.
Credit Fair has partnered with Tata Power Solar Systems Limited (TPSSL), a 100% subsidiary of Tata Power Renewable Energy Limited (TPREL) to offer collateral-free affordable financing solutions with low cost for both individuals as well as MSMEs planning to reduce their carbon footprint and electricity bills. Under the arrangement, Credit Fair will offer its financing solutions to customers through the channel partners of TPSSL. The financing solutions come with flexible tenures up to 60 months. In the initial phase, Credit Fair will finance loans with a ticket size of up to Rs. 50 lakh which helps customers install up to 100 kW of solar power systems. Credit Fair will offer financing to all types of solar rooftop installations – residential, housing societies, trusts and MSMEs.
HDFC share price rose 0.14% to Rs 2765 after Reuters reported that the company is likely to raise up to 150 billion rupees ($1.84 billion) through bonds maturing in 10 years. The proposed issue is likely to have a base size of 110 billion rupees and a green shoe option to retain an additional subscription of 40 billion rupees.
Hindustan Unilever Ltd (HUL) share price tanked 2.1% to Rs 2,467.6 today, despite the company’s fourth quarter financial results meeting analysts’ expectations. HUL stock has fallen over 2% in the past one month while it has gained 15% in the last one year. At the current price of Rs 2469.6 per share, the company’s market capitalisation stands at Rs 5.8 lakh crore. The shares touched a 52-week high of Rs 2,741.6 on 9 December 2022 and a 52-week low of Rs 2,100 on 17 June 2022.
Mankind Pharma IPO opened for subscription on 25 April and the issue has been fully subscribed at 2.13 times on day 3, with total bids of 5.98 crore shares for the 2.8 crore shares offered. Qualified institutional buyers (QIBs) subscribed for 573% of their reserved portion, demonstrating high interest in the issue. The portion for retail investors remains undersubscribed as investors bid only 0.36 times of the shares reserved for RIIs. The NII portion garnered 147% bids so far. The IPO closes for subscription today.
Hindustan Unilever Ltd (HUL) share price tanked 1.44% to Rs 2468.55 despite the company reporting fiscal fourth-quarter net profit at Rs 2,561 crore, up 8.5% on-year, meeting analyst estimates.
Maruti Suzuki, Dalmia Bharat, Mahindra Lifespace and SBI Life Insurance have found a place in HDFC Securities’ Buy list. Except for Mahindra Lifespace, all the companies were trading in green today. In comparison, The NSE Nifty 50 was trading above 17850 and BSE Sensex jumped 100 points. In sectoral indices, Bank Nifty surpassed the 42900 mark today while Nifty Pharma fell 0.4%.
STL Global, CSL Finance, Mahamaya Steel Industries, Vijaya Diagnostic Centre, Sharda Motor Industries, GE T&D India, Artemis Medicare Services, and Gillette India are among the volume gainers on the NSE index.
Alternatively, 10 stocks including PVR, Aavas Financiers, Aditya Birla Sun Life MF – ABSL CRISIL Overnight Fund AI Index ETF, Avalon Technologies, BEML Land Assets, Optiemus Infracom, and Sat Industries are at 52 week lows.
On the NSE Nifty, 44 stocks hit their 52-week highs including Nestle India, Siemens, Polycab India, Raymond, Themis Medicare, Revathi Equipment, Carborundum Universal, KPIT Technologies, Focus Lighting and Fixtures, Syngene International, Kirloskar Pneumatic Company, Mrs Bectors Food Specialities, Glenmark Pharmaceuticals, ITC, Triveni Turbine, CSB Bank, Minda Corporation, Vertoz Advertising, Tembo Global Industries, Global Surfaces, Exide Industries, Shree Vasu Logistics, and Kamat Hotels are among others.
On the NSE Nifty, 50 stocks hit their upper price band. Focus Lighting and Fixtures, Kohinoor Foods, STL Global, Kellton Tech Solutions, Goyal Aluminums were among the scrips. 30 stocks hit their lower price band including Brightcom Group, BEML Land Assets, Mirza International, Saksoft. 8 scrips hit both bands.
On the NSE Nifty index, the top winners are Bajaj Finserv, Bajaj Finance, SBI Life, ITC, with Bajaj Finserv up by 2.06%. The biggest laggards are HDFC Life, Power Grid, HUL, Grasim and SBI, with HDFC Life down 2.6%.
HDFC Bank, Bajaj Finance, ICICI Bank, Reliance Industries and Axis Bank are the most active Nifty 50 stocks intraday.
The sectoral indices traded higher as well, although Nifty Pharma fell 0.32%. However, Nifty Realty, Nifty Auto and Nifty IT gained up to 1.46%.
The broader markets traded largely in the positive territory, with Nifty Smallcap 50 higher by 0.82% and Nifty Midcap 50 higher by 0.34%.
Dalmia Bharat share price rose 0.56% to Rs 1944 today. The company’s shares have risen 4% in the last one month and over 25% in the past one year. The company had reported a twofold increase in its consolidated net profit at Rs 609 crore in Q4FY23 and the board has recommended a final dividend of Rs 5 per equity share for the financial year ended March 31, 2023.
“Nifty has broken the upper band of the 17500- 17800 range in which it has been trading recently. The rally may sustain but a significant surge beyond 18000 appears difficult in the near-term. Investors can continue with the ‘Buy on dips’ strategy,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“The 4.2% up move in Nifty helped by the 7.2% surge in Bank Nifty, came in a challenging environment. Now, there are more macro positives which can sustain this rally. The significant macro positive is the 4% overnight crash in Brent crude. This will further improve India’s CAD which is already healthy. This will have a benign effect on inflation, too, enabling the MPC to not raise interest rates further. In this scenario banking, which is already doing well, can do better,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
“Volatility expectations have gone up, albeit mildly, as we are poised to trade at levels not seen since early March, with a favoured view expecting bears to regroup once inside the 17840-976 region. However, the trend-following approach favours 18300, should we see a close above 17900 or an outright breach of 17976. Expect early dips to be bought, but while positive vibes may diminish if below 17780-65 region, there is no reason yet to expect collapse for the day,” said Anand James, Chief Market Strategist at Geojit Financial Services.
HDFC Life Insurance share price tanked 1.6% to Rs 523.4 after the life insurance major’s revenue came in higher by 21% on-year at Rs 21,471 as net profit fell to Rs 362 crore, down 28%. Additionally, the insurer announced a dividend of Rs 1.9 per share.
Maruti Suzuki share price fell 0.21% to Rs 8485 after the company’s Q4FY23 net profit jumped 42% on-year at Rs 2670.8 crore. The company’s revenue for the quarter ended March 2023 stood at Rs 32059.6 crore, up 19% from Rs 26,740 crore in the same quarter last year.
Bank Nifty rose 88.6 points or 0.21% to 42,918.5. The top gainers on the index were IDFC First Bank, Kotak Bank, Bank of Baroda and IndusInd Bank while the losers were Axis Bank, ICICI Bank, Federal Bank, State Bank of India and AU Bank.
The top gainers on Nifty 50 were Bajaj Finance, Kotak Bank, SBI Life, UPL and Bajaj Finserv while the losers were HDFC Life, Grasim, Hindustan Unilever, ONGC and TCS.
Bajaj Finance share price jumped about 1.9% to Rs 6,170 today after reporting a strong 4QFY23 financial results. The company’s board has recommended a dividend of Rs 30 per share for the fiscal ending March 2023. Bajaj Finance reported a consolidated net profit of Rs 3,158 crore for the quarter ended March, 30% higher compared to Rs 2,419 crore in the corresponding quarter of the previous year.
The NSE Nifty 50 rose 2.4 points or 0.01% to 17,816.00 and BSE Sensex was up 1.51 points to 60,302.09.
“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.