Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets enter the first trading session of 2022 on the back of 24% gains recorded over the last calendar year. S&P BSE Sensex currently sits at 58,253 points while the broader Nifty 50 index is at 17,354. SGX Nifty was trading flat ahead of this year’s first trading session, hinting at a tepid start to the day’s trade. Global cues were mixed as Wall Street equity indices ended in the red on Friday but Asian stock markets were moving in either direction. Hang Seng was down in Red while KOSPI was up with gains and KOSDAQ traded flat.
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.
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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