Share Market News Today | Sensex, Nifty, Share Prices LIVE: Correction on Dalal Street extended on Thursday as benchmark indices sank further, taking cues from global peers. S&P BSE Sensex recouped some losses, helped by fag-end buying but closed with a loss of 634 points or 1.06% at 59,464. NSE Nifty 50 dropped 181 points or 1.01% to end at 17,757. Ahead of Friday’s trading session SGX Nifty was deep in red, falling 147 points. Nifty futures trading with heavy losses hints at a gap-down start for domestic indices. Global cues were negative after Dow Jones, S&P 500, and NASDAQ all closed with losses and Asian stock markets mirror the fall.
Today investors will be keeping a close look at Reliance Industries Ltd (RIL), which will announce its quarterly earnings. The Mukesh Ambani-led oil-to-telecom conglomerate’s share price has fallen nearly 3% since the beginning of this week. Today is also the last day to subscribe to AGS Transact Technologies IPO, which has been subscribed 1.42 times so far. Retail investors have subscribed to their portion of the issue 2.06 times while Non-Institutional Investors (NII) have subscribed to it 1.13 times. QIB portion has been bid for 0.49 times so far.
Sensex falls in pre-open session, Nifty nears 17550 support zone.
“Huge selling by FIIs in cash and Index futures. Long unwinding continued in Nifty and Bank Nifty futures as OI was down by 6.5% and 10% in yesterday’s sell-off. Nifty PCROI is trading at 0.76 with a small rise in IVs. Nifty 18000 straddle holds significant OI. Call writing was seen across calls from 17800 to18000. Heavy call writing was seen at 38,000 in Bank Nifty,” said Rahul Sharma, Director & Head – Research, JM Financial.
“The short term trend of Nifty continues to be down and there is no clear evidence of bottom formation at the lows. A sustainable upmove in the subsequent session is likely to confirm higher bottom reversal in the market. The lower area of 17650-17600 levels is expected to be a strong support zone for the market ahead,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
“Nifty finds support around 17550 while 17950 will act as resistance on the upside. Bank Nifty finds support around 37350 while 38200 will act as resistance. Asian markets opened weak with the Japanese 'Nikkei' trading lower by over 500 points in early trade giving up all gains from yesterday's big rally. South Korean and Taiwan markets also succumbed to ETF outflows as markets adjust to higher rates in the coming months with Federal Reserve meeting next month signalling the same. Chinese stocks could see outperforming as they have underperformed in the last leg of the rally.”
~ IIFL Securities
“Nifty needs to reclaim 17800 today for any change in the current trend. The next major support lies at 17511 in Nifty and 37400 for Bank Nifty,” said Rahul Sharma, Director & Head – Research, JM Financial.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were once again left unchanged by Oil Marketing Companies (OMC) on January 21 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.
Indian equity markets on Thursday slipped one per cent, continuing the steep fall for the third consecutive session as consistent FII selling, elevated oil prices, rising inflation concerns and possibility of Fed interest rate hike weighed on investor sentiment. Benchmark indices Sensex and Nifty are likely to open lower on Friday as trends on SGX Nifty indicated a gap-down opening with a loss of 141 points or 0.79%. Ahead of today’s trading session, the Nifty futures were trading around 17,659 level on the Singaporean Exchange. “Major events like upcoming budget and various state election could lead to higher volatility in coming days. Hence, we advise trader to remain cautious and keep positions light. Investors can use dip in the market as an opportunity to accumulate quality stocks for long term portfolio,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
“With some late recovery, Nifty is back to 17750 and looks extremely oversold. Now going ahead, since we have overreacted today as compared to other bourses, any sustainable rebound there could lead to a sharp bounce back in our markets as well. In this case, we may see retesting of 17900 – 18000 levels in a day or two. Let’s see how things pan out as we are likely to kick off the monthly expiry week. Traders are advised to focus on quality names that have been corrected in the last 3-4 sessions and have reached their important supports. These are the ones who would recover faster in case our market sees some relief move,” said Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One.
“SGX Nifty is indicating that Indian markets are likely to start on a disappointing note despite the backdrop of two positive catalysts such as People's Bank of China cutting one-year and five-year prime mortgage loan rates by 10 and 5 basis points — 3.7% and 4.6% respectively, while the sudden spike in the 10-year U.S. Treasury yield easing to around 1.80%. Oil prices, which have jumped to a 7-year high on reports of heating up geopolitical tensions, could further dent the sentiment. The biggest hurdle to watch on Nifty is at the 18077 mark. Nifty’s make-or-break support is at 17567 mark, while the index will be vulnerable below 17567 mark with aggressive downside risk at 17327 and then at 17011-17051 zone, even as Nifty’s 200 day EMA is still at 16577 mark,” said Prashant Tapse, Vice President (Research) at Mehta Equities.
Mukesh Ambani’s Reliance Industries Ltd is likely to see a rise in profit and revenues on the back of improvement in refining, petrochemicals and retail performance, when it reports its fiscal third quarter earnings on Friday. Analysts expect the oil-to-telecom conglomerate to post better numbers than the previous quarter. RIL is scheduled to release its October-December quarter results for the current fiscal on Friday, 21 January 2022, after market hours.
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