Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading volatile on Wednesday, on the back of weak global cues. BSE Sensex was hovering near 58,000, while the Nifty 50 was ruling above 17200. IndusInd Bank, Dr Reddy’s Laboratories, Reliance Industries Ltd (RIL), ICICI Bank, Sun Pharma, ICICI Bank were among top BSE Sensex gainers. PowerGrid Corporation of India, Infosys, HDFC Bank, Wipro, HCL Tech, TCS, Maruti Suzuki were among top index laggards. Barring Nifty FMCG, Nifty IT and Nifty Metal indices, all the sectoral indices were trading in green. Nifty Bank index was up 0.14 per cent.
Paytm, Zomato, Nykaa, PB Fintech could be among the recently listed companies to enter the large-cap category in the upcoming semi-annual review by AMFI (Association of Mutual Funds India). Edelweiss Alternative Research believes the new age technology companies that listed in recent months could take their place as large caps in the AMFI review that is expected to be announced in the first week of January. Other stocks that Edelweiss expects to get the largecap tag include MindTree, IRCTC, SRF, and Tata Power among others. AMFI considers December 31 as the market cap cut-off date for changes.
Sensex and Nifty trimmed gains to trade flat on Wednesday. Nifty was still holding 17200.
Gold prices fell in India on Wednesday as international rates remained steady. On Multi Commodity Exchange, gold February futures were trading Rs 77 or 0.16 per cent down at 47,965, against the previous close of Rs 48,042 per 10 gram. Silver March futures were trading Rs 69 or 0.11 per cent down at Rs 62,445 per kg. In the previous session, silver futures ended at Rs 62,514 per kg.
Barring Nifty FMCG, Nifty IT, Nifty Auto and Nifty Metal indices, all the sectoral indices were trading in green. Nifty Bank index was up 0.14 per cent
PowerGrid Corporation of India, Infosys, HDFC Bank, Wipro, HCL Tech, TCS, Maruti Suzuki were among top index laggards
IndusInd Bank, Dr Reddy's Laboratories, Reliance Industries Ltd (RIL), ICICI Bank, Sun Pharma, ICICI Bank were among top BSE Sensex gainers
BSE Sensex was trading volatile, up 63 points or 0.11 per cent at 57960, while the Nifty 50 was ruling above 17200
For the coming session, the trading spot band for Nifty is between 17280-17130, which means further upsides are likely once the immediate resistance of 17280 are taken out and weakness could emerge if the support of 17130 are broken.
Raushan Kumar, Derivative Analyst, IIFL Securities
The short-term view remains bearish. The Nifty has to rise past 17500-17600 to turn the outlook bullish.
Raushan Kumar, Derivative Analyst, IIFL Securities
In the last few sessions, movement in the rupee has been led by RBI intervention and weakness in the dollar index. Most market participants have been on the sidelines on account of Christmas and New Year holidays suggests that the move has been on the back of thin volumes. This week, on the global front, no major economic data is expected to be released and on the domestic front focus will be on the fiscal number. We expect the USDINR (Spot) to quote in the range of 74.40 and 75.20.
– Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal Oswal Financial Services
We are of the view that the short-term texture of Nifty is bullish but due to an overstretched intraday rally, bulls may prefer to take a temporary pause near 17275-17300 and 58000-58100. The trading setup suggests a quick intraday correction is possible if the Nifty and Sensex succeed to trade below 17180 and 57750 levels, respectively; below the same the correction wave will move up to 17100-17160 and 57500-57300. On the other side, above 17200 and 57800, the index uptrend continuation formation will continue up to 17300 and 58100. Further upside may also continue which could lift the indices up to 17370 and 58300 levels.
The Nifty 50 index formed a small real body after a bullish one. Its 100-period and 200-period simple moving averages are still sloping downwards on the hourly timeframe chart, while its momentum indicators and oscillators shown divergence. In case the index fails to continue its prior daily up-move and closes below 17,000-mark, bears will again take control. However a follow-up move could lead the index towards 17,350-17,400 zone initially and 17,500-level subsequently. On the lower side, the index will find major support around 16,800-level. As for the day, support is placed at around 17,180 and then at 17,126 levels, while resistance is observed at 17,269 and then at 17,304 levels.
Reliance Securities
NSE Cash segment reported turnover of Rs 43,622 crore on Tuesday as compared to Rs 40,154 crore reported earlier. Lack of market participation remained a key concern as NSE cash segment turnover remained around multi-month low. Overall market breadth remained positive, where 1,570 stocks advanced against 456 declined stocks.
Reliance Securities
The Reserve Bank of India’s (RBI) decision to appoint one of its executives to the board of RBL Bank may have been aimed at ensuring a smooth succession process at the lender, people aware of the matter have said. The bank’s board now has at least six months — the residual tenure of outgoing chief executive Vishwavir Ahuja — to complete the process.
The S&P 500 closed slightly lower after hitting a record intraday high on Tuesday, as a four-day rally lost steam in thin trading and investors weighed Omicron-driven travel disruptions and store closures.
Asian peers were seen trading mixed in early trade as investors assessed the impact of the Omicron Covid variant. Japan’s Nikkei 225 slipped 0.82 per cent and the Topix index also declined 0.44 per cent. South Korea’s Kospi fell 0.75 per cent.
Nifty futures were trading 50 points or 0.3 per cent down at 17,213 on the Singaporean Exchange in the early trade.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
