Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic markets ended the first trading session of 2022 in the firm grip of bulls. S&P BSE Sensex soared 929 points or 1.6% to settle at 59,183 while the NSE Nifty 50 closed 271 points or 1.57% higher at 17,625. Bank Nifty index was up 2.65% at 36,421 on the closing bell. Broader markets mirrored the up-move and India VIX soared 1.42%. Bajaj Finance ended as the top Sensex gainer, up 3.5%, followed by Bajaj Finserv, ICICI Bank, and Axis Bank. On the other hand, Dr Reddy’s was down 1.13%, accompanied by Mahindra & Mahindra, Tech Mahindra, and Nestle India.
Bulls dominated the first trading session of 2022, forcing Dalal Street higher. S&P BSE Sensex soared 929 points or 1.6% to settle at 59,183 while the NSE Nifty 50 closed 271 points or 1.57% higher at 17,625. Bajaj Finance ended as the top Sensex gainer, up 3.5%, followed by Bajaj Finserv, ICICI Bank, and Axis Bank. On the other hand, Dr. Reddy's was down 1.13%, accompanied by Mahindra & Mahindra, Tech Mahindra, and Nestle India. The Bank Nifty index was closed 2.65% higher at 36,421. Broader markets mirrored the up-move and India VIX jumped 1.42%.
Sensex closed 929 points or 1.6% higher at 59,183 on Monday while the broader NSE Nifty 50 index added 271 points or 1.57% to end at 17,625.
New-age firms coming up with IPOs and listing on Dalal Street is a sign of how the Indian economy is evolving, said Radhika Gupta, MD & CEO, Edelweiss Mutual Fund in an interview with Kshitij Bhargava of Financial Express Online. She added that investors need to keep an open mind when investing and valuing such companies. Radhika Gupta further said that there will be more new-age companies knocking on the doors of primary markets in times to come. She also shared advice for new investors looking to enter the world of investing in 2022. Here are the edited excerpts.
Bajaj Finserv was the top Sensex gainer, up 3.5%, followed by Bajaj Finance, ICICI Bank, and IndusInd Bank.
“Monthly volume data continued to be mixed with weakness in two-wheelers and tractors. Demand for SUVs was good and commercial vehicles dispatches to dealers turned green, supported by LCVs. PV demand fell for the fourth consecutive month due to global shortage of semiconductors and cramping production. In addition, subsequent price hike and pandemic uncertainties added pressure. However, positive indicators like softening of commodity price, rise in economic activities, capex, encouraging farm data and marriage season will bring growth in Auto industry during 2022,” said Vinod Nair, Head of Research, Geojit Financial Services.
India VIX, the volatility gauge, was up 1.12% on Monday afternoon as headline indices soared higher. The gauge was sitting above 16.4 levels.
Nearly three years since Real Estate Investment Trusts (REITs) took root in India, the asset class has emerged as an essential component for long-term, diversified investment portfolios. The three listed REIT’s have in aggregate raised over Rs 16,500 crores as primary equity and touched a combined market capitalization of Rs 59,000 crores even as the pandemic ebbed and flowed over the last two years. In fact, since it listed in 2019, Embassy Office Parks REIT has clocked a 100% payout for 10 consecutive quarters, distributing over Rs 4,800 crores to unitholders with over 30 per cent total returns. As the curtains close on 2021, it’s an opportune time to understand the factors that have driven REIT returns in India and what the future may hold for retail investors.
Another covid scare has taken its toll on Cruise Line stocks listed in the United States. The share price of Royal Caribbean, Carnival, Norwegian Cruise Line have all tanked in the last days few days. Adding to their pain, the Centers for Disease Control and Prevention (CDC), the national public health agency of the United States, warned the public against taking cruise ships regardless of the vaccination status. Norwegian Cruise Line Holdings stock ended 1.33% lower on Friday while that of Carnival Corp was down 2% and Royal Caribbean closed 0.6% lower.
SpiceJet and InterGlobe Aviation (IndiGo) share prices declined on Monday underpinned by the hike in prices of aviation turbine fuel (ATF) and increasing omicron cases in the country. Shares of SpiceJet and IndiGo fell 3.37% and 3.97%, respectively, in intraday trading. SpiceJet shares fell as low as Rs 65.80 per share but recovered in afternoon deals and was trading at Rs 67.35 aunit on the BSE, while IndiGo stock price declined to Rs 1,936.10 a share and was trading at Rs 1,996.2 per share in afternoon.
BSE Sensex and Nifty 50 were trading over one per cent higher on Monday, the first trading day of calendar year 2022, on the back of buying in index heavyweights such as HDFC Bank, Reliance Industries Ltd (RIL), ICICI Bank, among others. So far in the trade, the 30-stock index hit a day’s high of 59,032.50, while Nifty 50 soared to 17,579.20. Amid this rally, just two stocks Infosys and Sun Pharmaceutical Industries hit their respective 52-week highs on S&P BSE Sensex. Infosys hit a new high of Rs1,914, and Sun Pharma stock rose to Rs 860 apiece. While no stock hit a 52-week low on S&P BSE Sensex so far on Monday.
Rakesh Jhunjhunwala’s portfolio stock Titan Company rallied 62 per cent in the calendar year 2021, rising to Rs 2,524.35 from Rs 1,551 per share. Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala together hold 4.87 per cent stake or 4.33 crore Titan shares. On the first trading day of CY2022, Titan shares were ruling weak at Rs 2,508.30 apiece, down 0.6 per cent, from last close of Rs 2524.35 apiece. Technical analysts say that strong bullish sentiment in CY21 along with the ease of COVID-19 restrictions in terms of festive and wedding season have led to Titan giving stellar returns.
“Nifty 17,560 done. If we close above this today, expect 17,800 to be tested this week. Keep Trailing SL for Longs & Ride,” said Rahul Sharma, Director & Head – Research, JM Financial.
Sensex soared over 750 points on Monday morning to regain 59,000 mark on the first trading session of 2022. Nifty 50 was nearing 17,600.
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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