Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets opened in the red on Wednesday morning as bears continued to maintain the grip on Dalal Street. S&P BSE Sensex was down over 250 points or 0.42% hovering around 60,500 while the NSE Nifty 50 index was down near 18,050. Bank Nifty, along with the broader market mirrored the fall. India VIX was above 18 levels. Bajaj Finance was the top index gainer, up 2.32% as investors reacted to strong Q3 results. Other gainers included Tata Steel, Bajaj Finserv, and Mahindra & Mahindra. Infosys was down 1.6% as the top index laggard, followed by IndusInd Bank, and Tech Mahindra.
India Energy Exchange on Wednesday announced divesting 4.93 per cent equity stake to India’s largest oil company Indian Oil Corporation. IEX chairman and managing director SN Goel said that the move augurs well in the joint endeavour to build the gas market in India and is aligned with the government’s vision of accelerating the share of gas in the energy mix to 15 per cent by 2030.
Reliance Industries Ltd (RIL) share price gained nearly 1 per cent to Rs 2,541.65 on BSE on Wednesday amid a weak market, after Reliance Jio said it has paid its entire deferred liabilities towards spectrum acquisition prior to March 2021. The company prepaid Rs 30,791 crore, including accrued interest, to the Department of Telecom (DoT). BSE Sensex and NSE Nifty 50 fell about 0.9% to 60,218 points and 17,972 points, respectively. Analysts say that the prepayment is definitely a positive thing for the whole RIL group. “The group is making continuous efforts to make it a debt free company, and these steps are going to benefit in achieving their vision,” Pavitraa Shetty, Co-founder & Trainer, Tips2Trades, told Financial Express Online.
“We are very close to the psychological support level of 18000; ideally, the Nifty should close above this for the positive sentiment to remain intact. A break of this could take us down to 17750-17800 which is the next level of support,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
AGS Transact Technologies’ Rs 680 crore IPO opened for subscription today. The first public issue of 2022 is entirely an offer for sale (OFS) by existing shareholders of the company, including the promoter Ravi B Goyal. Ahead of the IPO, AGS Transact Technologies has managed to raise Rs 204 crore from 17 anchor investors at the upper end of the price band of Rs 166-175 per equity share. Meanwhile, in the grey market, shares of the company continue to trade a slight premium over the IPO price. AGS Transact Technologies IPO will close on January 21.
Bank Nifty turned positive on Wednesday, gaining 0.26% while benchmark indices were deep in red.
“The 18210-330 region that we had kept In our cross hairs for the last few days, with the expectation of offering stiff challenges to upsides, stood firm despite persistent attempts to push higher. But as expected, when Nifty finally capitulated yesterday, a collapse did not follow, and it would require more distribution before 17600 can be fancied. For now, 17950 looks to be a base case scenario. Alternatively, pull back above 18250 could render the trend neutral, but it would be prudent to look for a close above 18330 or dips to 17950 before reconsidering longs,” said Anand James – Chief Market Strategist at Geojit Financial Services.
“Correction should end today in a day or two. Best case we take support at 17,950 & reverse. Worst case we correct until 17,800 & reverse. Look to add your favourite stocks in this volatility,” said Rahul Sharma, Director & Head – Research – JM Financial.
Nifty gave up the 18,000 mark on Wednesday morning as bears continued to remain under the firm grip on bears. Sensex was below 60,400.
“High volatility is in store for markets in the coming days. Globally inflation is becoming a worse-than-expected threat and this is reflected in the sharp spike in US 10-year yield to a 2-year high of 1.89%. The consequent correction in US markets has been sharp with Nasdaq falling by 2.6%. The Russian troop buildup on the Ukraine border and the probability of a Russian invasion of Ukraine are emerging as a major geopolitical issue that can impact markets. For India, the sharp spike in crude is posing major threats to inflation and fiscal and current account balances. On the positive side, the Q3 results indicate a smart pick up in earnings. While this strong fundamental can support the market, investors have to be cautious since at the present high valuations negative triggers can derail the rally,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
As long as the index stays above 18000, the short-term outlook will remain bullish. A break above 18350 can then pave way for further rise to 18500-18600. A narrow range of 18000-18350 is possible if Inability to breach 18350. For the coming session, the trading spot band is between 18050 and 18370, which means further upsides are likely once the immediate resistances of 18370 are taken out and weakness could emerge if the supports of 18050 are broken.
~ Raushan Kumar, Derivative Analyst, IIFL Securities
Sensex fell over 200 points on the opening bell to give up 60,500 levels while the NSE Nifty 50 index was down 80 points, hovering around 18,050. Bank Nifty was down 0.70%.
“For the day bias remains negative below 18200. Nifty supports are placed at 17950 and 17800. Positional traders are advised to accumulate longs in this correction near above support levels,” said Rahul Sharma, Director & Head – Research, JM Financial.
Sensex was down 150 points in the pre-open session on Wednesday morning while Nifty 50 was up 50 points, dodging the weak global cues.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were left unchanged by Oil Marketing Companies (OMC) on January 19 across the country. Petrol in the National Capital of Delhi currently retails at Rs 95.41 per litre while diesel in the city is priced at Rs 86.67 per litre. In Mumbai, a litre of petrol and diesel cost 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 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.
The immediate support for Nifty is placed around 18000 mark given that there are decent positions outstanding in 18000 put option in both weekly as well as monthly series. In case 18000 does not hold, then we could see this correction getting extended towards the ’20 DEMA’ which is placed at 17800. On the flipside, 18300-18350 will now be seen as immediate resistance for Nifty.
~ Ruchit Jain, Lead Research, 5paisa.com
Spectrum liabilities cleared by Reliance Jio were due in annual instalments from FY2022-23 to 2034-2035 and carried interest rate between 9.30% to 10% p.a. with an average residual period of 7+ years.
Reliance Jio said that it has estimated that the clearing of deferred liabilities will result in interest cost savings of around Rs 1,200 crores annually, at the current interest rates.
The consistent upmove of the last 3-4 weeks seems to have ended on Tuesday with the sharp reversal from the highs. The placement of key overhead resistance, formation of negative candle pattern and the downside breakout of immediate supports are all pointing towards more weakness in the short term. Any upside from here could find resistance around 18225 levels and that could be a sell on rise opportunity. Next lower levels to be watched at 17800 levels.
~ Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Reliance Jio Infocomm has said that it has paid Rs 30,791 crore (including accrued interest) to the Department of Telecom towards prepayment of the entire deferred liabilities pertaining to spectrum acquired in auctions of year 2014, 2015, 2016 and the spectrum acquired in year 2021 through trading of right to use with Bharti Airtel Limited. The company had acquired 585.3 MHz spectrum in the said auctions/trading.
SGX Nifty was trading with negative bias on Wednesday morning amid mixed global cues. Nifty futures were down 20 points.
AGS Transact Technologies’ IPO will open for subscription on Wednesday, ending the nearly one-month draught in primary markets. The Rs 680 crore IPO is entirely an offer for sale (OFS) by existing shareholders of the company, including the Promoter of the company Ravi B Goyal. Ahead of the IPO, shares of AGS Transact Technologies were trading at a premium of Rs 21 per share above the issue price of Rs 166-175 per share. In 2022 Dalal Street is expected to see a large number of IPOs and possibly the biggest public issue to ever hit markets– Life Insurance Corporation of India (LIC).
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
