Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets opened with gains on Wednesday morning, but failed to hold the highs and soon trimmed their gains to trade flat with positive bias. S&P BSE Sensex was up below 52,700 while the Nifty 50 index gave up 15,800. IndusInd Bank was the top gainer on Sensex, followed by Maruti Suzuki, Titan and HUL. HDFC Bank, NTPC, L&T, and Bajaj Finserv were among the top laggards. Broader markets were largely in the green. India VIX, the volatility gauge, gained 1%. Except for Nifty Pharma, all sectoral indices were moving higher. Bank Nifty was up 0.13%.
Sensex, after having slipped over 150 points was once again seen trimming losses and was now trading flat with a negative bias. Nifty was above 15,750.
Benchmark indices slipped into the negative territory on Wednesday morning. Sensex was down 33 points while Nifty slipped 10 points.
“The Nifty resisted around the 15900 levels yesterday so we still have to get past that for the markets to start moving up! If we can get past this level with ease, we should be targeting 16100. Good support lies at 15400 and as long as that does not break on a closing basis, dips can be utilized to enter long positions. If we fail to cross 15900, the markets might become range-bound between 15400-15900,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Maruti Suzuki India share price continued to move higher on Wednesday, extending Tuesday’s rally in the stock. The share price was up 1.83% trading at Rs 7,397 apeice.
The Nifty smallcap 50 index was down 0.8% on Wednesday morning. However, the broader smallcap index the smallcap 250 was 0.21%.
On the NSE, the midcap indices were outperforming the benchmark indices Nifty Midcap 50 was up 0.34% while Nifty 50 traded flat.
Sensex slipped into the red on Wednesday as indices continued to fall. Index heavyweights such as Reliance Industries, HDFC Bank, and Kotak Mahindra Bank were among the laggards
Bank Nifty gave up early gains to trade flat. Bandhan Bank, Kotak Mahindra Bank, Axis Bank, and HDFC Bank were the laggards pulling the index lower.
“The Fed chief Jerome Powell’s reiteration that inflation in the US is transitory and confined to a few goods & services is good news for markets. The US 10-year bond yield is unlikely to cross the recent high of 1.74% anytime soon. The equity bulls are consistently winning against bond bears. This ferocious bull run has made India the best performing large market with a YTD appreciation of 12.81% in Nifty. The MSCI India valuation is now at a 55% premium to MSCI Emerging Market Index. The market is discounting an expected 35% growth in Nifty earnings in FY22. This sharp rebound in earnings is achievable if a brutal third wave of the pandemic doesn’t strike. Top-quality financials offer buying opportunities on declines,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The volatility index was up in the green on Wednesday morning as benchmark indices moved frantically. India VIX was up 0.69%.
Gold prices in India gained on Wednesday, on the back of positive global cues after US Federal Reserve Chair Jerome Powell vowed not to raise interest rates too quickly. On Multi Commodity Exchange, gold August futures were trading Rs 80 or 0.17 per cent up at Rs 47,091 per 10 gram, as against the previous close of Rs 47,011. Silver July futures were trading at Rs 67,819 per kg. Silver futures ended at Rs 67,515 per kg in the previous session.
All Sectoral indices were trading in the green on Wednesday morning. Bank Nifty was up 0.26%, Nifty PSU Bank index was up 0.46%.
Titan was the top Sensex gainer on the opening bell as share price jumped 1.3%. This was followed by IndusInd Bank and Mahindra & Mahindra.
Sensex and Nifty began the day’s trade in the green. Sensex opened above 52,800 while Nifty was closing in on 15,850.
Sensex and Nifty ended the pre-open session near all-time highs on Wednesday morning. Sensex jumped 300 points while Nifty was up 90 points.
For Nifty 15670 and 15800 are important trading areas in the market. Keep a stop loss of 15550 and buy up to 15700/15650. Be prepared above 15900 for 16050/16150 levels. If the market takes time to surpass the 15900 levels, the momentum would shift in defensive sectors (FMCG, technology and pharmaceuticals). However, after the dismissal of 15900, the commodities and financial stocks would support the market to surpass 16000 levels.
India’s capital markets have seen a massive influx of new investors, along with the stellar share market rally after the coronavirus pandemic last year. With it, the popularity of passive investing, through index funds and ETFs, has gained momentum. Nippon Life India Asset Management, one of the veterans in passive investing, has 22 ETFs with assets under management worth Rs 40,000 crore.
Sensex and Nifty moved higher during the pre-open session on Wednesday morning. Sensex was above 52,800 while Nifty crosses 15,800.
“Selling towards the end of the day ensured that Nifty filled the gap that it had formed in the morning. Market-wide rollovers and Nifty rollovers are in line with average,” said Rahul Sharma, Head Technical Research, JM Financial. “Bullish above 15,800. Resistance is placed at 15,900 while 15,650-15,700 should provide support for the market,” he added.
BSE Sensex and Nifty 50 were set to see a gap-up start on Wednesday, as suggested by trends on SGX Nifty. Nifty futures moved higher in trade, gaining 68.50 points or 0.43 per cent to 15,838.50 on Singaporean Exchange. Chartists see further choppiness ahead due to scheduled derivatives expiry tomorrow. In today’s trade, investors will keep tabs on stock-specific moves, Q4 results, crude oil prices, rupee movement against dollar, and other global developments.
Nifty finds support around 15,700 while 15,900 will act as resistance on the upside. Bank Nifty finds support around 34,666 while 35,282 will act as resistance
~ IIFL Securities
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of Petrol and Diesel was left unchanged on Wednesday by oil marketing companies. Petrol price in Delhi today stands at Rs 97.50 per litre while Diesel in the capital city is retailing at Rs 88.23 per litre today. Fuel prices have been hiked 28 times since May 4, with the most recet hike yesterday. The price of petrol in Delhi has increased by Rs 6.81, while diesel price has surged Rs 7.18 per litre since the rates started increasing. 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.
“The short term uptrend, after a fine upside bounce of Monday is still intact. Any weakness from here is going to be a buy on dips opportunity for the short term. We expect Nifty to challenge upper 15900 levels again in the next few sessions and a sustainable move above this area could open more upside towards 16200 levels. Immediate support is placed at 15650,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
BSE-listed companies such as Asian Hotels (East), Allcargo Logistics, Apollo Hospitals Enterprise, Andrew Yule & Company, Deepak Spinners, Empire Industries, HCC, MBL Infrastructures, Mcleod Russel India, Mercator, Munjal Showa, Precision Wires India, Schneider Electric Infrastructure, Sharon Bio-Medicine, Speciality Restaurants, Technofab Engineering, and V2 Retail will release their January-March quarter earnings on June 23.
“Domestic Market would track global cues and RBI’s step forward as the signs of rising inflation leads to fear of a sooner-than-expected tightening in global monetary policies especially post US Fed’s hawkish policy statement. However, good monsoon so far, gradual opening up of the economy and the pick-up in the pace of vaccination provides support to the market. Technically too, Nifty can witness an up move towards 16,000,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
SGX NIfty was up 53 points ahead of the opening bell on Wednesday. Nifty futures were signalling a positive start for domestic markets.
The National Company Law Tribunal’s (NCLT) Mumbai bench on Tuesday approved the Jalan-Kalrock consortium’s resolution plan for the revival of bankrupt Jet Airways. The development comes a little after two years since the airline suspended its operations due to financial crisis. The Murari Lal Jalan-Kalrock consortium had offered Rs 1,183 crore to the lenders, which means a haircut of around 90% on the total admitted claims of Rs 15,525 crore.