Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets continued their upward march on Tuesday. S&P BSE Sensex is currently placed at 59,855, gaining 672 points or 1.14% while the NSE Nifty 50 index is at 17,805. Ahead of Wednesday’s trade SGX Nifty was down in red, hinting at a gap-down start to the day’s trade. Cues from global peers were mixed during the early hours of the day after Wall Street equity indices ended mixed. Dow Jones closed with gains while NASDAQ was in the red and S&P 500 ended flat. Among Asian stock markets, TOPIX and Nikkei 225 were up in green while other major indices were in the red.
Kishore Biyani’s Future Group companies faces a major setback on Tuesday as the Delhi High Court dismissed their plea seeking to quash the ongoing arbitration proceedings in Singapore with Amazon. The case relates to the Rs 24,500-crore merger deal with Mukesh Ambai’s Reliance Retail. In its order the Delhi High Court said that that it’s not for the court to interfere with the scheduling of the arbitration proceedings as sought by Future Group. Amazon and Future Group have been fighting a battle in the legal corridors for more than a year now after the latter moved to sell its retail assets to Reliance Retail.
Sensex started trading in the pre-open session with gains, nearing the 60,000 mark. Nifty was below 17,700.
The bulls continued the positive momentum for the third day in a row, the Nifty 50 index ended 179 points higher while the Sensex was up by 672 points. Among sectors, buying was seen in energy and financial stocks whereas some profit booking was witnessed in selective Pharma and Metal stocks. On Tuesday, the Nifty and BSE Sensex opened with a positive note and successfully cleared the 17700 and 59500 important resistance marks. Post intraday breakout, both rallied over 100 and 300 points, respectively. Technically, on intraday charts, the index has formed promising breakout continuation formation which is broadly positive.
Nifty has shown great strength in its recent up-move. Even with traders beginning to return, the upward momentum has not eased. Now Nifty could face resistance in the 17868-17918 band while 17640 could offer support.
~ Deepak Jasani, Head of Retail Research, HDFC Securities
“Nifty finds support around 17450 while 17900 will act as resistance. Bank Nifty finds support around 36500 while 37500 will act as resistance on the upside,” said IIFL Securities.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel price remained unchanged on January 5 across the country. Petrol rate in Delhi stands at Rs 95.41 per litre while diesel in the capital is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel is retailing at Rs 109.98 and Rs 94.14, respectively. Fuel prices have been stable since the central government cut excise duty to bring down retail rates from record highs. Public sector oil marketing companies (OMCs) including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a negative start on Wednesday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 63.50 points or 0.36 per cent down at 17,811.50 on Singaporean Exchange. In the previous session, S&P BSE Sensex zoomed 672 points or 1.14% to close at 59,855 while NSE Nifty 50 index jumped 179 points or 1.02% to end at 17,805. Chartists say that the short term trend of Nifty 50 index is sharply up and this upside momentum is likely to continue for the short term.
“Advisable to book profits in long and re-enter on dips or if Nifty closes above 17830 which will then open the way for 18000. Bank Nifty remains positive for 37,450 with small resistance at 37150. Support at 17700 and 36600,” said Rahul Sharma, Director & Head – Research, JM Financial.
“Cash-based buying by both FIIs and DIIs + short-covering in Nifty components are both positive for Nifty. Bank Nifty saw short-covering as it saw the closure of around 9.6%in OI while NIfty OI remained flat. Options data indicated more upside for Nifty along with Nifty weekly PCR moving closing above 1.5 levels,” said Rahul Sharma, Director & Head – Research, JM Financial.
“We continue with our positive bias and expect Nifty to continue the up move towards 17900-17970. Some confluences of retracements are placed in the range of 17900-17970, followed by 18050. The short term trend continues to remain up and hence, short term traders are advised to continue to trade with a positive bias. However, in the above mentioned range one can look to book profits and take some money off the table.”
~ Ruchit Jain, Lead Research, 5paisa.com.
SGX Nifty was down 69 points ahead of Wednesday's trading session. Nifty futures trading with losses hint at a weak start to the day's trade.
In a major setback for Future group companies, the Delhi High Court on Tuesday dismissed their plea seeking to quash the ongoing arbitration proceedings in Singapore with Amazon relating to the Rs 24,500-crore merger deal with Reliance Retail. With this order, the arbitration proceedings initiated by Amazon against Future Retail over the merger deal will proceed as per schedule on January 5.
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