Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets enter the first trading session of 2022 with gains. S&P BSE Sensex rallied on the opening bell to regain 58,500 while the NSE Nifty 50 index was above 17,400 — both the indices were up close to 0.60%. Bank nifty index was above 35,600 levels. Broader markets mirrored the up-move. Tech Mahindra was the top Sensex gainer, up 1.2%, followed by TCS, and HCL Technologies. Mahindra & Mahindra along with Ultratech Cement were the only stocks down in red on Sensex.
In the last three months of 2021, bank credit was deployed heavily in large industries, Reserve Bank of India (RBI) data and bankers said. Growth in credit to large industries moved into positive territory, rising 0.5% year-on-year (y-o-y) in October 2021, for the first time last year, according to the latest sectoral data from RBI. During October 2020, it had shrunk 1.8%. Recently a working paper by RBI executives said that there is yet room for Indian companies to borrow. It added that the current level of leverage of around 48%, as per the latest available data (2018-19), suggests that there exists a further space for corporate borrowing which will lead to higher investment in a scenario where macro-economy is conducive.
Nifty Metal index enters 2022 after having seen a strong 61% rally in the previous year, taking the index to 5,521 levels. The majority of gains recorded by the metal index, however, came in the first half of 2021 and the latter half saw the index move sideways. Analysts at ICICI Direct believe the index could rebound now, offering fresh entry opportunities. “Nifty Metal index is seen rebounding after taking support around 5200 mark which is the value of long term rising 200-day moving average and 80% retracement of June-October 2021 rally,” a report by ICICI Direct noted.
“It is a welcome move of waiving off the property tax. This will certainly impact the lives of nearly 16 lakh residential homes in Mumbai. We believe it will be offset by the real estate industry rebounding, with the mid-to upper-end segments purchasing flats in unprecedented numbers. The revenue shortfall of the Government will be filled by the top section certainly,” said Rohit Poddar, Managing Director, Poddar Housing and Development Ltd.
Nifty Bank index was nearing the 36,000 mark on Monday morning. The Banking gauge zoomed 1.33% to sit above 35,950.
Continued upsides, aiming at 17600 is the favored move. But the inability to float above 17345 could signal a decline in momentum. A subsequent turn lower, would not be deep as long as 17285 hold.
~Geojit Financial Services
At 55.5 in December, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) pointed to a robust improvement in overall operating conditions that was elevated by historical standards. This was despite the headline figure slipping from November's ten-month high of 57.6. Moreover, the latest quarterly reading was at 56.3, its highest since the final quarter of fiscal year 2020/21.
~ IHS Markit
“The Nifty is in positive terrain, the breakout level was 17350 and we managed to close above that on Friday. This should allow the index to move higher to 17575-17600 and then 17800. A good base has been formed at 17100 and as long as we can keep above that, all dips can be utilized to accumulate long positions,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
Gold prices in India were trading on a muted note on the first trading day of calendar year 2022, as global rates remained steady. On Multi Commodity Exchange, gold February futures were trading at Rs 40,060 per 10 gram, down Rs 51, as against the previous close of Rs 48,099. Silver March futures were ruling at Rs 62,391 per kg, down Rs 269 or 0.4 per cent. In the previous session, MCX silver ended at Rs 62,660 per kg. MCX gold underperformed in CY21, falling 4.14 per cent, while MCX silver fell 8.2 per cent in the previous year.
Commodity prices traded higher with most of the commodities in the non-agro segment witnessing buying during the week. Bullion prices traded up on inflation worries and fall in bond yields while crude oil prices rallied nearly 2% on higher demand optimism and lower supplies. Base metals complex traded higher on weaker dollar and supply disruption fears from Europe.
Sensex extended opening gains to regain 58600 levels on Monday. The index jumped 350 points.
Sensex soared higher on opening bell to regains 58500 during the pre-open session on Monday. Nifty was above 17400.
The improving market breadth supported by multi sector participation makes us believe that the Nifty 50 index would extend ongoing up move towards 17600 levels in coming weeks. In the process, bouts of volatility cannot be ruled out. However, any dip from hereon should not be construed as negative instead capitalise it as an incremental buying opportunity as we expect strong buying demand to emerge around 17000-17800 zone. Dharmesh Shah, ICICI Securities
Headline indices moved in opposite directions as the Pre-open session started on Monday. Sensex was up 100 points while Nifty was down 70 points.
“17560 seems to be on the cards for Nifty while Bank Nifty can attract fresh buying if it manages to sustain at these levels. Support placed at 17285 & 17200 for Nifty and at 35300 and 35000 for Bank Nifty,” said Rahul Sharma, Director & Head – Research, JM Financial.
Nifty is trading above 20 day SMA’s which is an important short term moving average, indicating positive bias in the short term. Nifty continues to remain in an uptrend in the medium term, so buying on dips continues to be our preferred strategy. For the week, we expect Nifty to trade in the range of 17600-17100 with a positive bias. Rajesh Palviya, Axis Securities
The January series has started with relatively low open interest with the Nifty January series OI close to just 1 crore shares. Till we do not see fresh accumulation in OI, major directional move seems unlikely. From a data perspective, the Nifty holds highest Put concentration at 17200 strike for the coming weekly settlement while no major Call base is visible with highest Call concentration placed at the 17400 strike. Hence, positive bias can be maintained till the Nifty holds above 17200 for upside targets of 17500-17600. Move below 17200 may put the Nifty in the consolation mode once again.
For the coming session, the trading spot band is between 17200 and 17430, which means further upsides are likely once the immediate resistances of 17430 are taken out and weakness could emerge if the supports of 17200 are broken.
~ Raushan Kumar, Derivative Analyst, IIFL Securities
Bulls returned to the party on Dalal Street after a long pause. We saw volatility during the previous week and finally closed just above the resistance level of Nifty at 17354. Equity benchmarks had a strong close to the year and welcomed 2022 with a bang. All-round performance in the sectors IT, Metals, Financials back into flavors. Going forwards Technically Nifty holding above 17000 should be a good sign which will form a strong base, Nifty has just crossed above the resistance level of 17350, now Nifty can move towards 17500 as the first target and 17777 as the second target. Select IT Metals and consumer companies can be the flavor of the week.
As the calendar year 2021 drew to a close, it left some important footmarks in the history of the Indian capital markets. We can fairly say that the year stayed eventful in ways more than one. On one hand, the year saw the completion of an unabated 11,000 point rally in NIFTY and over 24,000 points rally in NIFTY Bank Index, if calculated from the low point that was formed on both these Indexes in March 2020. On the other hand, this very year also saw intermediate tops being marked on both of these indexes.
Domestic equity market benchmarks BSE Sensex and Nifty 50 were likely to open flat with a positive bias on the first trading day of CY2022. Nifty futures were trading 12.50 points or 0.07 per cent up at 17,452 on Singaporean Exchange in the early trade.The BSE Sensex gained 21% in 2021, the BSE Mid-cap and BSE Small-cap reported gains of 38% and 61%, respectively, indicating a broad-based rally. While NIfty 50 gained 23 per cent in the previous calendar year. Technical analysts believe that the short term trend of Nifty 50 index continues to be positive.
“The long term charts like weekly indicate an upside bounce from the lower supports and monthly signal an upside bounce after a reasonable decline and the extreme long term chart like quarterly has closed with doji or high wave type formation, which means confusion state of mind at the highs. The short term trend of Nifty continues to be positive and one may expect further upside in the short term. A sustainable move above 17640 is likely to negate the bearish setup and that could open more upside as per daily and weekly timeframe chart. Immediate support is placed at 17260 levels.”
~ Nagaraj Shetti, Technical Research Analyst, HDFC Securities
SGX Nifty as down in the red on Monday morning ahead of the day's trading session. Nifty futures were down 10 points, hitting at a tepid start to the first trading session of the year.
Deployment of bank credit in large industries saw a late surge in the final quarter of 2021, according to Reserve Bank of India (RBI) data and commentary from bankers. While corporates continue to borrow from the markets as they emerge from a phase of deleveraging, banks are positioning themselves to offer financing through a mix of instruments in the new year 2022.
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