Barring Nifty PSU Bank and Nifty Media indices, all the sectoral indices were trading in the red.Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market indices BSE Sensex and Nifty 50 were trading flat on Friday, taking cues from their Asian peers. BSE Sensex was hovering around 51,300, while Nifty 50 was ruling above 15,100. Top Sensex draggers were ICICI Bank, HDFC Bank, Infosys, Housing Development Finance Corporation (HDFC) and Axis Bank. Reliance Industries Ltd (RIL) was the top BSE Sensex gainer, up over 1 per cent, followed by Larsen & Toubro, Hindustan Unilever Ltd (HUL), Bharti Airtel, ONGC, among others. Barring Nifty PSU Bank and Nifty Media indices, all the sectoral indices were trading in the red. The nifty Metal index fell over 1 per cent.
Bharti Airtel continues to add maximum number of wireless users, for the fifth month in a row. Airtel added 4.05 million wireless subscribers in December to take its base to 338.70 million, followed by Reliance Jio, which added 478,917 subscribers to take its base to 408.77 million. With strong additions, Airtel has also narrowed the gap with market leader Reliance Jio, which has seen its subscriber additions slowing down.
Highlights
The markets have opened below 15100 which is a short term support for the Nifty. We need to evaluate today's closing price: for the markets to continue remaining bullish, we would need to close above 15100. A break of this level on a closing basis would alert the bearish triggers of the market and it can drop to 14800 and then 14600. It would be better to evaluate the index on Monday with new weekly support and resistance levels.: Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
A host of socio-economic factors in play now could sow the seeds of a rally in tourism and related industry stocks, often dubbed as the ‘back to normal’ trade. India’s economy is now beginning to get in the groove with growth projections being revised upwards for the next fiscal year; cases of coronavirus have not resurfaced in the form of a second wave; and vaccination drive is picking up steam. “As the economy is now coming out of covid induced pain, we expect tourism to witness sharp recovery in FY22E,” said ICICI Direct in a note. The brokerage firm has picked five stocks to build a multicap portfolio that could benefit from tourism activity getting back to its old normal.
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Markets globally have been consolidating and even slowly drifting down during this week. This trend is due to high valuations and the absence of any fresh positive triggers to take the market higher. This trend might linger for some more time before some trigger leads to a breakout. Meanwhile, investors can utilize the drift in the market to buy quality stocks with good earnings visibility. IT is one sector that looks promising. The broader market is witnessing frenzied activity, particularly in PSU stocks. The speculative activity in this segment has been on the rise following the privatization proposals in the Budget: V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Sectorally, barring Nifty PSU Bank and Nifty Media indices, all the sectoral indices were trading in red. Nifty Metal index fell over 1 per cent
Top Sensex draggers were ICICI Bank, HDFC Bank, Infosys, Housing Development Finance Corporation (HDFC) and Axis Bank
Reliance Industries Ltd (RIL) was the top BSE Sensex gainer, up over 1 per cent, followed by Larsen & Toubro, Hindustan Unilever Ltd (HUL), Bharti Airtel, ONGC, among others.
BSE Sensex was trading 222 points or 0.43 per cent down at 51,102, while the broader Nifty 50 index gave up 15,100.
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IndusInd Bank, Power Grid Corporation of India, Reliance Industries Ltd (RIL), ICICI Bank were among top Sensex laggards in pre-open.
BSE Sensex was flat to negative at 51,259, while the broader Nifty 50 index was ruling above 15,150 in the pre-open on Friday.
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COMEX gold trades 0.3% lower near $1769/oz and has tested the lowest level since June 2020. Weighing on gold price is higher bond yields and continuing ETF outflows which show weaker investor interest. However, supporting price is the loose monetary policy stance of major central banks, mixed economic data and hopes of additional US stimulus. Gold's sharp sell-off makes it vulnerable to further losses however the losses seems overstretched given the emphasis on continuing with stimulus measures.: Ravindra Rao, VP- Head Commodity Research at Kotak Securities
Nifty futures were ruling 85.50 points or 0.57 per cent down at 15,029.50 on Singaporean Exchange, indicating a gap-down opening for BSE Sensex and Nifty 50 on Friday. Previous session marked the third straight fall in the headline indices due to concerns over stretched valuations and weak global cues.
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The short term trend of Nifty is down amidst a range movement. Lack of strength in decline and positive market breadth could indicate possibility of a comeback of bulls from the lower levels. We expect Nifty to show upside bounce from the lows of around 15000 levels in the next 1-2 sessions. On the flip side, a decisive move below 14950 is likely to trigger more weakness in the near term.: Nagaraj Shetti, Technical Research Analyst, HDFC Securities
The Reserve Bank of India (RBI) on Thursday partially devolved the government bond auction upon primary dealers for the second time in as many weeks. The devolvement of an auction generally signifies that the central bank is not willing to accept bids at yields higher than what it is comfortable with.
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Sensex and Nifty have slipped for three consecutive sessions now. After Thursday’s fall, BSE Sensex now sits at 51,324 while the 50-stock NSE Nifty is at 15,118 points. However, defying the benchmark indices, broader markets have continued to show strength and inched higher. The consolidation in domestic markets could continue, according to Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services. He added that the weakness in markets could remain till concerns over rising inflation recede. On Friday morning, SGX Nifty was down 45 points, hinting at a gap-down start.
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Stocks on Wall Street ended down with Dow Jones Industrial Average falling 0.38 per cent. The S&P 500 lost 0.44 per cent, and the Nasdaq Composite dropped 0.72 per cent.
Asian stocks were trading deep in red in early trade on Friday, following overnight fall on Wall Street. Japan’s Nikkei 225 was down 0.87 per cent while the Topix index lost 0.78 per cent. South Korea’s Kospi declined by nearly one per cent.
Nifty futures were ruling 48.50 points or 0.32 per cent down at 15,066.50 on Singaporean Exchange.
Bharti Airtel continues to add maximum number of wireless users, for the fifth month in a row. Airtel added 4.05 million wireless subscribers in December to take its base to 338.70 million, followed by Reliance Jio, which added 478,917 subscribers to take its base to 408.77 million.
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