Share Market News Today | Sensex, Nifty, Share Prices LIVE: Benchmark indices BSE Sensex and NSE Nifty 50 opened lower on Monday amid weak global cues. The Sensex was down 1,197.86 points or 2.06% at 56955.06, and the Nifty was down 348.00 points or 2.00% at 17026.80. M&M, SBI, ITC, L&T and ICICI Bank were among major losers on the Nifty, while gainers were ONGC and TCS. All the sectoral indices are trading in the red with auto, bank ,FMCG, metal, power, realty and capital goods indices down 2-3 per cent. In the broader markets, the BSE MidCap and SmallCap indices were deep in red, down 2.7 per cent and 3.15 per cent, respectively.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 14 February 2022 Monday
January WPI inflation was at 12.96 per cent against 13.56 per cent and December Core WPI inflation was at 9.7 per cent versus 11 percent, MoM.
“There is a short term negative sentiments in the markets due to Ukraine-Russia crisis tensions, rising crude oil prices and US FED’s aggressive rate hike expectations due to decade high inflation. But we believe the current fall in the market is due to Ukraine crisis and we may witness strong rebound in markets after easing of Ukraine Crisis. Market volatility is expected to stay on higher end, so investors should not jump in to markets for short term gains rather they should have a long term horizon and add quality stocks in such significant dips.”
~Mohit Nigam, Head – PMS, Hem Securities
We remain constructive on two-wheeler stocks amid attractive valuation. We expect the 2W segment to bounce back in domestic as well as exports in FY23. Along with a valuation comfort, the risk-reward is highly favourable, which would give a strong outperformance going ahead. We also like PV segment amid number of new launches next year and strong demand outlook supported by healthy order book. Therefore, Maruti Suzuki, Bajaj Auto and TVS Motor continue to remain as our top picks. Reliance Securities
Sensex and Nifty may trade near 56000 and 16800-16500 respectively in near term. Investors may enter for value buying at lower levels, wait and watch strategy should be followed. Value sectors like Banking, IT, Pharma, Metals and Power seems attractive at around 3-5% more correction from current levels. Ravi Singh, VP & Head of Research, Share India Securities
Shares of Reliance Industries Limited (RIL) were in focus after global research firm Morgan Stanley put overweight call on the stock with target at Rs 2,926 per share, an upside of around 25 per cent from current market price. This comes after the Mukesh Ambani-led conglomerate stated that it is targeting to become one of the largest producers of blue hydrogen globally, producing zero-emission fuel at costs that will be half of the global average. The operator of the world's largest oil refining complex will repurpose a Rs 30,000 crore plant that currently converts petroleum coke into synthesis gas to produce blue hydrogen for USD 1.2-1.5 a kilogram.
“The markets saw a volatile and negative reaction to the geopolitical tensions arising between Russia and Ukraine. However, if we take the present correction from a technical perspective, the NIFTY has rebounded from a crucial support zone of 16900-17000. Further more, the level from where the NIFTY rebounded also represents a confluence area formed by two support pattern trend lines.”
“So, the current low of 16916 gets very crucial on a closing basis. If we see violation of this point, we may see incremental weakness coming in. So long as the NIFTY is able to stay above this point, there are higher possibilities of a technical pullback happening.”
~ Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services
Indian rupee opened lower at 75.53 against US dollar on Monday. The dollar index surged 0.52% on Friday amid pessimistic sentiments in global markets and fears over geopolitical tensions between US and Russia over Ukraine issue. However, weakness in US 10 year treasury yields capped further gains in the dollar, said ICICI Direct. Rupee February futures depreciated by 0.46% on the back of rally in oil prices and dollar strengthening. Further, sell off in domestic markets and disappointing manufacturing data from India weighed on rupee, it added
BSE FMCG index fell over 2 per cent dragged by the KRBL, Globus Spirits, Avanti Feeds.
H G Infra Engineering Ltd
“The company reported strong Q3FY22 result with Revenue/EBITDA/APAT growth of 25%/23%/36% YoY. Considering strong order book position, healthy bidding pipeline, new order inflows, emerging opportunities in the construction space, and the company’s efficient and timely execution, we expect HGIEL to report Revenue/EBITDA/APAT CAGR of 24%/24%/32% respectively over FY21-FY24E. Stock is currently trading at 10x and 8.5x FY23E/FY24E EPS which is attractive. We recommend a Buy the stock for a target price of Rs 680 implying an upside of 11% from CMP,” said Axis Securities in its note.
“Indian markets witnessed a sharp fall on the back of rising geopolitical tension between Russia and Ukraine. This geopolitical tension is leading to a sharp rise in crude oil prices which is another headwind for Indian equity markets. World markets were trying to digest record inflation in the US but the surge in geopolitical tension spoiled the mood. There is some sentimental impact of the bank fraud issue of ABG group on banking stocks but it doesn't have a material impact as it is already part of NPA.”
“Technically, Nifty is trading near-critical demand zone of 17000-16800, and the 'buy on dip' texture will be continued till Nifty trades above 16800 level its 200-DMA however, there are multiple resistances on the upside till 17650 where 17300/17500 are immediate hurdles. There are no worries till Nifty trades above the 16800 level but if Nifty slips below 16800 then things may become ugly.”
~Parth Nyati, Founder, Tradingo
“17000-17800 is the range for the index. While it is a wide range, traders should exercise extreme caution at the current juncture. Stop losses are large and whipsaws cannot be ruled out. Hence it is better to wait for a close below 17000 to re-evaluate the trend. Closing below 17000 is imperative for a bearish view to get activated. On the upside 17400 is the current resistance level.”
-Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments
Benchmark indices erased some of the opening losses with Nifty hovering around 17000. The Sensex was down 1,131.27 points or 1.95% at 57021.65, and the Nifty was down 338.50 points or 1.95% at 17036.30.
Gold Price Today, Gold Price Outlook, Gold Price Forecast: Gold prices in India surged over 1 per cent on Monday, on the back of positive global cues. On the Multi Commodity Exchange, gold April futures soared Rs 433 or 0.88 per cent to Rs 49,547 per 10 gram, as against the previous close of Rs 49,114 per 10 gram. Silver March futures jumped Rs 798 or 1.3 per cent to Rs 63,786 per kg. Globally, yellow metal prices held their ground near a three-month high touched in the previous session, as lingering concerns surrounding Ukraine kept the metal’s safe-haven appeal intact, according to Reuters. Spot gold was steady at $1,859.16 per ounce, while U.S. gold futures rose 0.9% to $1,859.00 per ounce.
“Sentiments have turned very negative for the short-term with the heightened tension over the Ukraine crisis. Weakness in global markets is the direct fallout of the Ukraine crisis. Crude at an eight year high is another major macro concern for India. If crude remains at levels of $95 for an extended period of time, the RBI will be forced to revise upwards its 4.5% CPI inflation projection for FY23. Continuation of the accommodative monetary stance too will be difficult. While all these are negatives, diffusion of the Ukraine crisis can trigger a sharp rebound in markets led by large-cap bluechips”
~V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
“Morning panic seems to be over. Bounce back possible with Stop Loss of 16,850. Levels to keep in mind – 16,850 & 17,043”.
~Rahul Sharma, Head – Research, JM Financial Services
Coal India, Eicher Motors, Grasim Industries, SpiceJet, Adani Enterprises, Adani Wilmar, Rossari Biotech, AGS Transact Technologies, Apex Frozen Foods, Apollo Micro Systems, Balkrishna Industries, Bharat Dynamics, BGR Energy Systems, Dish TV India, Equitas Holdings, Future Retail, Gateway Distriparks, Graphite India, Greenply Industries, Ipca Labs, IRCON International, IVRCL, Jet Airways, KNR Constructions, Manappuram Finance, MEP Infrastructure, MTNL, Nagarjuna Fertilizers, Natco Pharma, NBCC (India), Panacea Biotec, PC Jeweller, PTC India, RailTel Corporation of India, Repco Home Finance, Sadbhav Engineering, Shriram Properties, Spandana Sphoorty Financial, Sterling and Wilson Renewable Energy, Vivimed Labs, and Zuari Global are among 989 companies to announce quarterly results today.
Reliance Jio, and SES on Monday announced the formation of a joint venture – Jio Space Technology Limited – to deliver “next generation scalable and affordable broadband services” in India leveraging satellite technology. JPL and SES will own 51% and 49% equity stake in the joint venture respectively.
The JV will use multi-orbit space networks that is a combination of geostationary (GEO) and medium earth orbit (MEO) satellite constellations capable of delivering multi-gigabit links and capacity to enterprises, mobile backhaul and retail customers across the length and breadth of India and neighbouring regions.
Sectorally, all Nifty indices were in the negative territory on Monday, led by losses in Nifty Bank, PSU Bank indices, down 3 per cent and 4 per cent, respectively. The Nifty Auto, Realty, Metals, Financial Services were all nearly 3 per cent lower. The Nifty IT and Pharma indices had the lowest cut of 0.6 and 0.8 per cent, respectively.
In the Sensex pack, barring TCS (up 2 per cent), all the other stocks were in the red zone, led by SBI, Tata Steel, Bharti Airtel, IndusInd Bank, HDFC, ICICI Bank, L&T, Mahindra and Mahindra, Ultratech Cement, Bajaj Finserv, Axis Bank, Bajaj Finance, trading 2.6-4.10 per cent lower. On the Nifty, ONGC, Divis Lab and TCS were the gainers, while, JSW Steel, SBI, HDFC Life, M&M and Bajaj Finserv were the losers.
TCS share price bucked the trend on Monday to climb over 2%. This comes after the IT major on Saturday announced that it has fixed February 23, 2022, as the record date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in TCS' share buyback.
“The Inflation number which has been within RBI’s tight range over the last 6 months, will be in focus today. For the day, we are expecting the USDINR pair to open near 75.65 and the likely range would be 75.25 to 75.85. Given factors clearly indicates that heavy dark clouds are hovering on the Indian Rupee and one can expect a further depreciating move towards 76-76.30 levels over the short term.”
~Amit Pabari, MD, CR Forex Advisors
Oil and Natural Gas Corporation (ONGC) share price touched a 52-week high of Rs 176.40 on Monday, rising nearly 5 per cent in the early trade on February 14 after company reported its December quarter earnings. The state-owned oil and gas major reported a consolidated profit (PAT) of Rs 11,637 crore on Friday for the third quarter ended December 2021, up 220 per cent from the profit of Rs 3,637 crore reported in the corresponding quarter a year ago.
Reliance Industries share price fell over 2.5 per cent on Monday. The scrip touched intraday low of Rs 2,300 on BSE.
The rupee plunged by 24 paise against the US currency at close on Friday amid fears of an aggressive rate hike by the Federal Reserve after US inflation raced to a 40-year high in January. Muted domestic equities, sustained foreign fund outflows and elevated crude oil prices also weighed on the local unit. At the interbank foreign exchange, rupee opened at 75.40 against the greenback. It witnessed an intra-day high of 75.27 and a low of 75.46 before finally settling at 75.39, down 24 paise from the previous close.
Nifty Bank index plunged 3 percent dragged by the Punjab National Bank, ICICI Bank, AU Small Finance Bank.
Share price of ICICI Bank plunged 4% o Monday to touch an intraday low of Rs 750.
Indian indices opened lower on Monday with Nifty giving up 17,000 on the back of weak global cues. The Sensex was down 1,197.86 points or 2.06% at 56955.06, and the Nifty was down 348.00 points or 2.00% at 17026.80. M&M, SBI, ITC, L&T and ICICI Bank were among major losers on the Nifty, while gainers were ONGC and TCS.
For the Nifty 50 index, sustaining above 17400 is the key factor from a short-term perspective. If the market is unable to sustain the level of 17400, the market might see the correction till the level of 17100 while resistance is expected at 17600- 17780.
Benchmark indices are trading lower in the pre-opening session on Monday amid weak global cues. The Sensex was down 1,110.45 points or 1.91% at 57042.47, and the Nifty was down 458.30 points or 2.64% at 16916.50 in the pre-open session.
“In dollar terms, we expect crude oil prices to remain volatile this week amid volatility in the dollar index and Russia-Ukraine tensions. WTI could hold $88 a barrel and Brent could hold $90 barrel in the international markets. Crude oil is having support at $92.00–90.50 and resistance is at $95.50–96.80 in today’s session. In INR terms Crude oil has support at Rs6,782-6,644; while resistance is at Rs 6,997–7,044,” said Prashanth Tapse, Vice President (Research), Mehta Equities Ltd.
The escalated geopolitical tension had led to spike in crude oil prices and the Dollar index. We believe, this would trigger elevated volatility in the equity market. In the process, we expect strong support for the Nifty is placed around January low of 16800. In the coming week, India VIX (which gauges the market sentiment) will be the key monitorable, as cool off in India VIX would provide support for the market and lead to prolongation of ongoing consolidation in the broader range of 17600-16800 amid stock specific action.
Crude oil prices rose on Monday, climbing towards their highest levels in more than seven years on fears that a possible invasion of Ukraine by Russia could trigger sanctions from the US and Europe and disrupt energy exports from the world's top producer. Brent crude futures was at $95.73 a barrel up $1.29, or 1.4%, after earlier hitting an intraday high of $95.91. Mean while, US West Texas Intermediate (WTI) crude rose $1.49, or 1.6%, to $94.59 a barrel, hovering near a session-high of $94.92.
On Friday, Nifty witnessed sudden change in the sentiment as it failed to provide positive follow-up action. Series of descending tops and ascending bottoms on short term charts confirms congestion phase, hence sustenance on either side is required for any directional action to set-in. As long as Nifty remains beneath levels of 17650, on the flip side, it might revisit levels of 17200-17000.
~Yes Securities
“Asian indices are trading lower as investors monitor developments around the Covid situation in Hong Kong and tensions between Russia and Ukraine. UK already issued a warning for British citizens to leave Ukraine as tensions with Russia mounted further. Amid this backdrop, we expect a negative start for Indian indices and recovery is expected to be capped.”
~Yes Securities
The chart pattern suggests that if Nifty crosses and sustains above 17500 levels it would witness buying which would lead the index towards 17800-18000 levels. However if the index breaks below 17200 level it would witness selling which would take the index towards 17000-16800. For the week, we expect Nifty to trade in the range of 17800-17000 with mixed bias. The daily and weekly strength indicator RSI is moving downwards and is quoting below its reference line indicating negative bias.
The Indian equities on Friday settled lower in a volatile trading week on negative global cues. Ongoing Russia-Ukraine conflict, rising crude oil prices and relentless selling by FPIs, put pressure on domestic markets. The Sensex fell 0.84% while the Nifty 50 declined 0.81%. Nifty Midcap index decreased by 2.3% while small cap lowered by 4.5% underperforming Nifty. On sectoral front, Metal Index was up 3.3%, NIfty FMCG was down 2.2% and NIfty IT fell 2% for the week. As for Asian markets, the SGX nifty is down 148.75 points or 0.86% on Monday. Nikkei is 2.56% lower, while Hangseng is down 1.38%). “We expect Indian equity market to open gap down as SGX Nifty is starting with sharp cut over 200 points from Friday’s closing”, said Mitul Shah, Head Of Research at Reliance Securities.
Dalal Street could win only if Nifty is able to move above its biggest hurdles at 17807 mark. On the downside, the biggest support is seen at 17221 mark. Below 17221 mark, downside risk seen at 16836 mark and then aggressive targets at December 2021 lows at 16410. Now, with inflation chatters going on, the street will brace for the CPI & WPI Inflation data to trickle in today.
~Prashanth Tapse, Vice President (Research), Mehta Equities Ltd
Nifty is showing hesitation on building up on recent gains. This could be an early hint of more weakness in the offing. Nifty could remain in the 17214-17554 band and breach of either level could lead to accelerated move in that direction.
~Deepak Jasani, Head of Retail Research, HDFC Securities
Gold prices held their ground on Monday near a three-month high touched in the previous session, as concerns surrounding Ukraine kept the yellow metal's safe-haven appeal intact. Spot gold was steady at $1,859.16 per ounce. In the previous session, bullion prices hit the highest since November 19 at $1,865.15, in their biggest daily gain since mid-October. U.S. gold futures rose 0.9% to $1,859.00 per ounce.
BSE-listed companies such as Adani Enterprises, Grasim, Coal India, Eicher Motors, Adani Wilmar, Balkrishna Industries, Rajesh Exports, Ipca Labs, Natco Pharma, Medplus Health, JB Chemicals and Pharma, Manappuram Finance, NLC India and Graphite India are among the companies that will announce their October-December quarter results today.
Nifty finds support around 17050, while 17600 will act as resistance on the upside. Bank Nifty finds support around 37800, while 38600 will act as resistance, said IIFL Securities.
The Dow Jones Industrial Average on Friday ended down 503.53 points, or 1.43%, at 34,738.06; the S&P 500 lost 85.44 points, or 1.90%, at 4,418.64; and the tech-heavy Nasdaq Composite dropped 394.49 points, or 2.78%, to 13,791.15.
Asian shares slipped on Monday as warnings Russia could invade Ukraine at any time sent oil prices to seven-year peaks, boosted bonds. The cautious mood saw MSCI's broadest index of Asia-Pacific shares outside Japan drop 0.2%. Asian markets opened in the red with Japan's Nikkei reopening after a trading holiday on Friday & trading lower by nearly 600 points. Other Asian markets were also weak with the exception of the Australian S&P index which traded well in the green on positive data.
Trends on SGX Nifty on Monday indicated a gap-down start for Indian equity markets, with a loss of 216.50 points or 1.25 per cent. The Nifty futures were trading around 17,137.50 level on the Singaporean Exchange.
