Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets came under pressure from bears on the weekly F&O expiry session on Thursday and closed with losses. S&P BSE Sensex is now placed at 59,601, falling 621 points of 1.03% yesterday. NSE Nifty 50 index closed at 17,745, erasing 179 points. Entering the final trading session of the week, SGX Nifty was sitting in the green, hinting at the return of bulls to Dalal Street. Global cues were mixed after Dow Jones, NASDAQ, and S&P 500 closed with losses but Asian stock markets were moving higher.
Mukesh Ambani’s Reliance Industries is raising funds and investing some at the same time. On Thursday’s RIL announced that it has invested $200 million in hyperlocal delivery platform Dunzo for a 25.8% stake, meanwhile overseas RIL has raised $4 billion in India’s largest-ever foreign currency bond issuance. RIL said it has issued bonds to refinance high-cost borrowings. The three tranche bonds have a maturity of 10-year, 30-year, and 40-year. On the other hand, RIL’s investment in Dunzo is the largest the latter has raised. The investment comes at a time when the local delivery market is heating up as companies try and offer faster deliveries in an attempt to grab market share.
Sensex was trading with gains during Friday's pre-open session while Nifty regained 17800.
Reliance Industries (RIL) on Thursday said it has raised $4 billion in India’s largest-ever foreign currency bond issuance. The multi-tranche bonds were oversubscribed three times. The company said, proceeds from the issuance will be used to refinance high-cost borrowings.
“Markets may witness further consolidation however the bias would remain on the positive side till Nifty holds a 17,400 zone. Apart from the global cues and COVID news, the earnings-related updates would keep the volatility high. Traders should continue with a positive yet cautious approach and focus more on sectors/stocks selection.”
~ Ajit Mishra, VP – Research, Religare Broking
“Nifty closed the day with a quality reversal from the lows. Nifty made a low of 17650 and closed the day off the lows. The pattern for the day is a spinning top sign of indecision in the market. Nifty remains in a firm uptrend. In a fast up trend the corrective declines coils last on for two to three days. The underlying trend is sharply up Nifty may see a sideways range bound action between 17650-18003 but probabilities favour a rally to 18250-18300 over the next 5-10 days.The mathematical indicators point towards an uptrend MACD is in a buy mode and RSI holds above 60. Traders should consider retaining long positions and keep a view with a bullish bias,” said Manish Shah, Independent Technical Analyst.
Bears dominated Dalal Street on Thursday as Indian equity markets snapped the 4-day winning streak to end in red. Both benchmarks BSE Sensex and NSE Nifty opened gap down and witnessed selling pressure in line with global peers. While Sensex fell 621.31 points to close at 59,601.84, the Nifty50 declined 179.40 points to 17,745.90. However, broader markets closed in green with minor gains of 0.2%. “While the market trend might be volatile in the near term on account of potential risk from Omicron variant, upcoming budget and fragile global cues, in the long run, strong earnings delivery along with positive macro-economic data would hold the key to drive markets”, said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd. Key things to know before market opening bell
Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a muted start on Friday, as suggested by trends on SGX Nifty in early trade. Nifty futures were trading 13.50 points up at 17,833 on the Singaporean Exchange. In the previous session, headline indices snapped their 4-day rally due to a decline in the overseas markets after minutes of the US Federal Reserve’s recent meeting suggested an earlier-than-expected rise in interest rates. Sensex tanked 621 points of 1.03% to end at 59,601 while NSE Nifty 50 sunk 179 points or 1% to close at 17,745. Technical analysts say that after an intraday sharp fall, the market took the support near 17650/59300 and reversed but failed to surpass 17800/59800 resistance level which is broadly negative.
“Nifty supports now placed at 17650 and 17700. Sustenance above 17800 can open the way for 18150 as our next target. On the flip-side, 17650 is broken it will change the bias to bearish in the near term,” said Rahul Sharma, Director & Head – Research, JM Financial.
“Nifty fell as expected after a strong four-day up-move. However, the advance decline ratio is still at 1:1 suggesting broad market strength amidst selling in index heavyweights. Local traders are accumulating mid and smallcap stocks ahead of the Union budget and Corporate results for Q3FY22. 17828 will now be a resistance for the Nifty in the near term while 17640 will be a support,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
SGX Nifty was trading with gains on Friday morning. Nifty futures were up 30 points, hinting at a flat to positive start to the day's trade.
Hyperlocal delivery platform Dunzo on Thursday said it has raised $240 million in its latest round of funding led by Reliance Retail Ventures (Reliance Retail) along with participation from existing investors Lightbox, Lightrock, 3L Capital and venture debt provider Alteria Capital.
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