Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets started Thursday’s trading session with losses. S&P BSE Sensex was down over 100 points or 0.17% at 59,455 while NSE Nifty 50 slipped 25 points or 0.15% to trade at 17,750. Bank Nifty was little changed from yesterday’s closing. Broader markets were in the red, except Nifty Smallcap 50 index. India VIX was in red. NTPC was the top gainer on Sensex, up 0.77%. ITC, Asian Paints, and Reliance Industrie were the other gainers. HDFC was the top laggard, down 1.6%, followed by Bajaj Finance, IndusInd Bank, and Infosys.
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Domino’s operator Jubilant FoodWorks share price fell more than 6 per cent to Rs 3,097 apiece on Thursday, after the company reported a 7.5% on-year rise in net profit in the fiscal third quarter. Jubilant FoodWorks, which operates quick service restaurant (QSR) chains Domino’s Pizza and Dunkin’ Donuts, said yesterday its consolidated net profit rose to Rs 133.19 crore for the third quarter ended December 2021, against Rs 123.91 crore in the corresponding quarter last year. Analysts see up to 27 per cent potential upside in the stock with a target price at Rs 4,200 apiece.
Smallcap indices on NSE were outperforming benchmark indices on Thursday. Nifty Smallcap 50 was up 0.16% while Smallcap 100 was up 0.15% and the Smallcap 250 gained 0.30%.
Housing Development Finance Corporation (HDFC) share price fell more than 2.1% on Thursday morning as the top Sensex laggard. The stock fell a day after the mortgage lender announced its October-December quarterly results where it reported a net profit of Rs 3,260 crore, up from Rs 2,925 crore in the year-ago period. HDFC's share price was in the red at an intraday low of Rs 2,557 per share, falling 2.12%. Analysts, however, remain bullish and retain ‘buy’ calls on the stock.
IHS Markit Services PMI came in at 51.5 in the month of January against 55.5 in the previous month.
“On the technical front 17,680 and 17900 are immediate support and resistance in Nifty 50. For Bank Nifty 38,700 and 39,900 are immediate support and resistance respectively,” said Mohit Nigam, Head – PMS, Hem Securities.
HDFC (Housing Development Finance Corporation) was down as the worst Sensex performer on Thursday, a day after the company announced its quarterly results. HDFC share price was down more than 2% at Rs 2,552 per share.
“The markets are facing some upside pressure and have resisted around the 17800 level. That has now become a crucial patch to get past for the markets to start a new upward trajectory. If we can close above 17800, we should see higher levels. On the flip side, the current support is at 17200 and if that breaks, we will resume the current downtrend,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.
The Nifty uptrend remains in place as the open interest has risen further. At the same time, FIIs’ net longs have also increased contracts suggesting ongoing positive bias. Hence, till we do not see closure of positions and below index level of 17640 , buy-on declines strategy should continue. For the coming session, the trading spot band is between 17640 and 17830,which means further upsides are likely once the immediate resistances of 17830 are taken out and weakness could emerge if the supports of 17640 are broken.
~ Raushan Kumar, Derivative Analyst, IIFL Securities
“Globally markets are in high volatile territory and this is likely to continue till some clarity emerges on the Fed rate hike decision in March. If the Fed opts for a 50bp rate hike in March, as some experts fear, there will be a sell-off in equity markets globally. But now, this is a low probability event. The Fed would prefer gradual rate hikes without upsetting markets. In India, the RBI is likely to raise the reverse repo rate in the February 9th meeting, indicating policy normalization. Technically, the market is strong aided by the steady decline in FII selling, and DIIs and retail investors consistently buying dips. Financials are strong and IT is staging a comeback after the recent correction. This trend is likely to continue,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices were trading flat in India on Thursday, on the back of muted global cues. On Multi Commodity Exchange, gold April futures were trading Rs 32 down at Rs 48,052 per 10 gram. Silver March futures were ruling at Rs 61,359 per kg, down Rs 144 on MCX. Globally, gold prices were little changed above the key $1,800 per ounce level, as U.S. Treasury yields retreated after a dip in U.S. jobs data, according to Reuters.
Sensex was down in red with marginal losses on the opening bell. Nifty 50 dropped 20 points but was still above 17,700 support zone. Bank Nifty was flat.
“Benchmark Indices are expected to open on a flat to negative note as suggested by trends on SGX Nifty. US stock markets closed higher on Wednesday, NASDAQ added 71 points followed by upbeat earnings from Google parent Alphabet. European Indices also closed positive on Wednesday. Asian markets were showing mixed cues in the early trade as there are some concerns about global growth and geopolitical tensions. Nikkei down 1%, and Kospi trading +1.0% higher . Oil prices rose on Wednesday after OPEC+ stuck to their plans for moderate output increases,” said Mohit Nigam, Head – PMS, Hem Securities.
Sensex was down 27 points in pre-open session while the NSE Nifty 50 index was down 12 points.
Sensex was up 200 points during the pre-open session while NSE Nifty 50 was down in red, holding above 17600 levels.
“Nifty finds support around 17400 while 17900 will act as resistance on the upside. Bank Nifty finds support around 38750 while 39950 will act as resistance,” said IIFL Securities.
Nifty gapped up on the day of budget and witnessed extreme volatility throughout the day. We saw an intraday drop of 200 points but recovered sharply during the second half of the session. Nifty has bounced multiple times from 16800 levels indicating buying at lower levels. Since the past 5-6 months, index is consolidating within a broad range from 18400-16800 levels representing medium term sideways trend. This consolidation zone is also supported with its 200-day SMA (16668) which remains a crucial support zone.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were left unchanged by Oil Marketing Companies (OMC) on February 3 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 in November last year. 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.
“A cooling-off/dip is expected from current levels. Support seen at 17,700, 17,635, and 17,500,” said Rahul Sharma, Director & Head – Research, JM Financial.
Nifty Daily chart indicates the index has reversed its recent downtrend as it has crossed the previous swing high of 17309 and has closed above 50 day SMA. The 14-day RSI too has made a higher bottom, bounced back and closed above its 9-day EMA. We, therefore, expect the Nifty to gradually move higher in the coming sessions. It is important that on any corrections, the short-term trend reversal levels of 17244 hold.
Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a tepid start on Thursday, a day of weekly F&O expiry day. Nifty futures were trading 24.50 points or 0.14 per cent down at 17784 on Singaporean Exchange. In the previous session, Sensex zoomed 695 points or 1.18% to close at 59,558 while the NSE Nifty 50 added 203 points or 1.16% to settle at 17,780. Analysts say that the short term trend of Nifty continues to be positive and there is no signs of any tiredness at the higher levels.
Nifty 50 index opened gap-up on Wednesday and relentlessly moved up straight above 17777 zones. It remained range-bound for the most part of the session and closed with decent gains of around 200 points. It formed a Bullish candle on a daily scale and has been forming higher highs from the last four sessions.
Given the continuity of policy focus and pronouncements, we believe markets will discount the budget and shift focus to: a) rising interest rate regime globally and consequent higher bond yields and b) corporate earnings growth that has remained resilient so far in the ongoing 3QFY22 earnings season. The forthcoming RBI policy meet on 9th Feb’22 assume greater significance now with respect to the future of liquidity and interest rates. Q3FY22 earnings has been good so far and from management commentary Q4 number is expected to be strong. Overall we remain positive on the market. From a sector perspective, we expect Infra, construction, cement, capital goods, affordable housing, logistics and Defence to remain in focus.
~ Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
SGX Nifty was down with marginal losses on Thursday morning. Nifty futures were trading 25 points lower, suggesting a tepid start to the day's trade.
With most of the preparatory work almost over with finalisation of the embedded value (EV) of the Life Insurance Corporation, the insurer will file a draft red herring prospectus (DRHP) by next week for its mega IPO, department of investment and public asset management secretary Tuhin Kanta Pandey told FE.
