Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices opened lower on Friday (January 14) on the back of weak global cues. The BSE Sensex was down over 400 points at 60757, and the Nifty gave up 18,200, and was down 114.30 points or 0.63% at 18143.50. Except auto and oil & gas, all other sectoral indices are trading in the red with IT index down 1 percent. In broader markets, BSE midcap and smallcap indices are trading flat. HDFC, HCL Tech, Asian Paints, Wipro and UPL were among the top losers in the Nifty pack, while Cipla, IOC, L&T, Titan Company and Divis Labs were the top gainers.
Shares of Mukesh Ambani’s Reliance Industries Ltd will remain in focus as the company announced on Thursday that it will invest nearly Rs 6 lakh crore in green energy and other projects in Gujarat. RIL has already begun scouting land for 100 GW renewable energy projects to be set up in the next 10-15 years. The company will also invest another Rs 60,000 crore to manufacture solar PV cells and other renewable energy equipment, it said.
On Thursday, the Nifty witnessed a volatile day where it made intraday low of 18197 before recovering and closing with a minor gain of 0.25%. In Nifty, 18200 Call and Put option witnessed sizeable OI addition, which indicates that the Nifty is likely to consolidate around current levels, said ICICI Securities.
Indian indices opened lower on Friday on the back of weak global cues. The BSE Sensex was down over 400 points at 60757, and the Nifty gave up 18,200, and was down 114.30 points or 0.63% at 18143.50. HDFC, HCL Tech, Asian Paints, Wipro and UPL were among the laggards in the Nifty pack, while Cipla, IOC, L&T, Titan Company and Divis Labs were the top gainers.
Benchmark Indices are expected to open on negative note as suggested by trends on SGX Nifty. US markets closed in red whereas European markets closed with minuscule gains. Asian markets are trading in negative terrain. On Thursday the market remained in positive territory but the pace was capped due to weak macro-economic data coupled with rising cases of coronavirus in the US. A little pause in this upswing can be expected as some minor correction can take place. The indices can witness some consolidation at these levels or can be faced with minor corrective fall which presents a good opportunity to deploy additional funds in good quality stocks, said Mohit Nigam, Head – PMS, Hem Securities.
Nifty index settled near the day’s top on Thursday after lackluster trading session where neither bulls nor bears were able to decisively move market in their direction, finally closed shop at 18257.80 levels, up 45 points. Nifty index is well placed and is seen heading towards 18500 levels in the near future, said Globe Capital Market Limited.
Benchmark indices are trading lower in the pre-opening session with Nifty below 18100. The Sensex was down 98.35 points or 0.16% at 61136.95, and the Nifty50 was down 162.50 points or 0.89% at 18095.30.
Setup of Nifty is suggesting that there can be a small pullback of 200-250 points if it breaks 18,210. Bank Nifty can see fresh weakness if 38,400 is broken, said Rahul Sharma, Director & Head – Research, JM Financial Services Limited.
Nifty finds support around 17950, while 18400 will act as resistance. Bank Nifty finds support around 38250 while 39150 will act as resistance on the upside, said IIFL Securities.
Markets have recovered sharply by more than 11% from its recent lows of 16,400 levels in just 20 days. Low impact of omicron variant and positive macro data points have helped improve the sentiments. However, valuations are no longer cheap and require strong earnings delivery for sustenance of positive movement in the market, said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
The short term trend of Nifty continues to be positive. Emergence of high volatility and a formation of doji at the hurdle could be pointing towards the possible consolidation or minor weakness in the next few sessions. Any downward correction from the highs could find support at uptrend line around 18000 levels. However, a decisive move above 18272 is likely to negate the bearish setup for the near term, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates January 13
