Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Indian equity markets ended Thursday’s highly volatile session in red. Sensex ended 104 points lower at 57,892, while Nifty 50 held 17300 to settle at 17,304, down 17.60 points. Sectorally, Bank index slipped 1 per cent, while Power index gained nearly 2 per cent. In broader markets, BSE midcap and smallcap indices ended in the red. ICICI Bank, Axis Bank, UltraTech Cement, IndusInd Bank and UPL were the top Nifty losers, while gainers included Tata Consumer Products, ONGC, HDFC, Reliance Industries and HDFC Life.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Highlights 17 February
“Markets kept on vacillating near the previous session’s close throughout the day. Many attempts were made by the bulls to take it higher past yesterday’s close into positive territory, buy all were futile and markets eventually closed in the red territory.”
“Volumes on the NSE in cash market were dismal and were lowest for the calendar year 2022. As it was a weekly expiry day, derivative markets were buzzing with activity and they clocked an all-time high turnover today.
Banking and Healthcare indices fell the most, while Oil & Gas and FMCG were the top gainers.”
“Outcome of state elections and fears of interest rate hikes in India and abroad continue to plague the sentiments. 17491-17554 could continue to be a resistance for the Nifty while 17214 could be the support.”
~Devarsh Vakil – Deputy Head Retail Research, HDFC Securities
Indian equity markets ended Thursday's highly volatile session in red. Sensex ended 104 points lower at 57,892, while Nifty 50 held 17300 to settle at 17,304, down 17.60 points. Sectorally, Bank index slipped 1 per cent, while Power index gained nearly 2 per cent. In broader markets, BSE midcap and smallcap indices ended in the red
“The market witnessed another volatile movement and an attempt to hold the market above the levels of 17200. Market research suggests that sustaining above 17200 will be an important level for the market to stay positive in the short term. If the market sustains above the support levels, we expect a recovery in the market. We have observed the momentum indicators like RSI and MACD indicating positive side recovery in the market.”
~Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research
Benchmark indices were trading flat in the highly volatile session with selling seen in the banking names. The Sensex was down 32.49 points or 0.06% at 57964.19, and the Nifty was up 0.10 points or 0.00% at 17322.30.
Charlie Munger, who is Warren Buffett’s long-time business partner and the Vice Chairman of Berkshire Hathaway, lambasted cryptocurrencies once again and called for it to be banned. “I admire the Chinese for banning it. I think they were right and we have been wrong to allow (crypto trading),” he said. Munger, who has been a longtime crypto critic, compared it to a “venereal disease” and said he considers it “beneath contempt”. This is not the first-time that Munger has spoken critically about crypto.
Punjab & Sind Bank on Thursday said its board has given approval to raise equity capital worth Rs 4,600 crore by issuing preference shares to the government. The board of directors has approved to offer, issue, create and allot equity shares up to Rs 4,600 crore to the government by way of preferential issue of equity shares, the bank said. The stock was trading at Rs 16.75, up Rs 0.35, or 2.13 per cent.
Shares of Hero MotoCorp surged over 8.5% in the last three sessions with hitting a four month high. The stock will turn ex-date for interim dividend on 21 February. Earlier, the firm announced 3000% or Rs 60 a share interim dividend. The stock was trading at Rs 2,806.10, up Rs 20.80, or 0.75 percent. It touched an intraday high of Rs 2,871.
Shares of Advani Hotels & Resorts India surged 20% on Thursday after ace investor Radhakishan Damani and his family increased their stake in the firm. In intraday, the stock hit a high of Rs 97.80 on BSE. According to the shareholding data available on BSE, Radhakishan S Damani, Shrikantadevi R Damani and M/S Derive Investments (partners-Radhakishan S Damani and Gopikishan S Damani) has bought 1.45 lakh shares or 0.31% stake in the firm via open market purchase between 14-15 February. Currently, Gopikishan S Damani holds a 4.18% stake in Advani Hotels. With this, RK Damani and family's stake has increased to 5.17% from 4.86% earlier.
Shares of FSN e-Commerce Ventures, the parent company of Nykaa, continued to remain under selling pressure, hitting a new low of Rs 1,371.35, on slipping 9 per cent on the BSE in Thursday’s intra-day trade. The stock recouped later and was trading 3.37% lower at Rs 1,454 on BSE.
Benchmark indices were trading marginally higher in a volatile trading session with Nifty around 17400. The Sensex was up 129.76 points or 0.22% at 58126.44, and the Nifty was up 53.50 points or 0.31% at 17375.70.
Foreign research firm UBS has maintained buy on Eicher Motors with a target at Rs 3,300 per share. The management addressed the key concerns on production ramp-up & management attrition. The company spoke about healthy domestic demand & further opportunities in international business. Eicher Motors was quoting at Rs 2,719.65, up Rs 12.75, or 0.47 per cent on the BSE.
In the month of December 2021 India has reported total subscriber loss at 1.28 crore versus addition of 11.99 lakh, MoM. Reliance Jio loses 1.29 crore subscribers versus addition of 20.19 lakh. Bharti Airtel adds 4.75 lakh subscribers versus addition of 13.80 lakh and Vodafone Idea loses 16.14 lakh subscribers against loss of 18.97 lakh subscribers, MoM.
Nestle shares fell as much as 1.5 per cent after the Q3 earnings announcement. The stock, however, recovered most of those losses. The company reported a profit after tax (PAT) of Rs 386.6 crore for the fourth quarter ended December 2021, down 20 per cent from Rs 483 crore a year earlier. The company's board also cleared a final dividend of Rs 65 per share of face value of Rs 10 per share.
HDFC, Reliance Industries (RIL), L&T, Tata Steel, Titan, Wipro, Tech Mahindra, Powergrid, M&M and Infosys were among the top gainers in Sensex pack, while ICICI Bank, Ultratech Cement, Axis bank, IndusInd Bank, Sun Pharma, TCS and ITC were the laggards. In the Nifty pack, Tata Consumer Products, HDFC, ONGC, Hindalco and Bajaj Auto were the top gainers, while the top losers were Axis Bank, ICICI Bank, Ultratech Cement, IndusInd Bank and UPL.
HDFC, Reliance Industries (RIL), L&T, Tata Steel, Titan, Wipro, Tech Mahindra, Powergrid, M&M and Infosys were among the top gainers in Sensex pack, while ICICI Bank, Ultratech Cement, Axis bank, IndusInd Bank, Sun Pharma, TCS and ITC were the laggards. In the Nifty pack, Tata Consumer Products, HDFC, ONGC, Hindalco and Bajaj Auto were the top gainers, while the top losers were Axis Bank, ICICI Bank, Ultratech Cement, IndusInd Bank and UPL.
After slipping to hit the lowest point ever on Tuesday, Zomato shares today surged nearly 3%. The stock hit an intraday high of Rs 87.80 on BSE and is trading slightly above the IPO issue price of Rs 76.
Avenue Supermarts share price edged higher after credit ratings agency CRISIL Ratings reaffirmed its rating on the bank facilities and commercial paper of the company. The credit ratings agency has reaffirmed its rating on the bank facilities and commercial paper of the company at 'CRISIL AA+/Stable'.
In a highly volatile session today, Indian benchmark indices swung between gains and losses. At 11 am, Sensex is up 74.18 points or 0.13% at 58070.86, and the Nifty added 41.40 points or 0.24% at 17363.60.
Reliance Industries (RIL) was the top gainers in the Sensex pack. The shares of Mukesh Ambani-led conglomerate were trading 1.4 per cent up at Rs 2,446.
Nestle shares were up 0.2 per cent at Rs 18,281.8, having risen as much as 0.8 per cent earlier in the day. Street awaits the FMCG major's October-December results, due later today.
Indian rupee opened 10 paise lower at 75.17 per dollar on Thursday against previous close of 75.07. The dollar index slipped 0.30% after minutes from the last US Federal Reserve meeting suggested policymakers were not as hawkish as markets feared about raising interest rates. However, better-than-expected retail sales data from the US prevented a further decline in the dollar, said ICICI Direct.
Rupee February futures appreciated by 0.27% due to a decline in dollar index. However, a sell-off in domestic markets and elevated crude oil prices capped further appreciation in the rupee, it added.
Rakesh Jhunjhunwala’s favorite stock Tata Motors gained over 2.5 per cent to Rs 511.40 apiece on BSE after the company announced Jaguar Land Rover’s (JLR) multi-year strategic partnership with Nvidia. The company will jointly develop and deliver next-generation automated driving systems plus AI-enabled services and experiences for its customers. Jhunjhunwala held 3.92 crore equity shares of Tata Motors at the end of October-December 2021 quarter. JP Morgan has initiated its coverage on Tata Motors with an ‘overweight’ rating. It has pegged a target price of Rs 630, a rally of 26 per cent from the previous close.
Power and Energy stocks are in focus today as the government is likely to announce the first phase of the green hydrogen policy soon. “We are going to put mandates for replacement of grey hydrogen and grey ammonia with green hydrogen and green ammonia in a certain trajectory. That mandate will come out after clearance of the Cabinet,” RK Singh, Minister of Power & New Energy, said on Wednesday.
“What is going to be issued on Thursday or the day after is open access, banking, and free transmission,” Singh added.
“As investors monitored the Ukraine crisis, Indian markets closed the day in the red, owing to selling pressure in the final hour of trading. Following Asian peers, markets are set to have another volatile session today. The Indian economy may undergo an economic reset by the end of the year, clocking 9% growth in 2021-22 (FY22) and about 8% growth in 2022-23, according to the finance ministry, owing to the subdued impact of the third wave of the pandemic on economic activity (FY23). On Wednesday, US markets closed largely down as investors breathed a sigh of relief after the Fed FOMC minutes revealed that the Fed expects to raise interest rates, but at a modest pace. On Thursday, Asian markets are mainly in the green, despite mixed global cues.”
~Gaurav Garg, Head of Research, Capitalvia Global Research Ltd
Indian benchmark indices fluctuated between gains and losses in volatile trade with Nifty around 17300. The Sensex was down 90.01 points or 0.16% at 57906.67, and the Nifty was down 2.70 points or 0.02% at 17319.50.
“As news of firing of Mortars by Ukraine army emerges EurUsd drops by 50 bps and USDINR rises to 75.25 levels in futures. Opening could be around 75.10 and a range of 74.80 to 75.50 could be seen as uncertainties rise in the Ukraine issue. The FED minutes were dovish and there dollar fell earlier. The movement will be as per news flow of Ukraine and both importers and exporters can take advantage of the volatility and buy and sell as per the ranges given.”
~Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors
ICICI Bank, HDFC Bank, Axis Bank pulled Sensex, Nifty lower. TCS, Infosys and SBI are also among the biggest drags on both headline indices. On the other hand, gains in stocks such as Reliance Industries, HDFC and Titan keep the downside in check
Shares of Tata Motors rose sharply as investors cheered the announcement of arm Jaguar Land Rover multi-year strategic partnership with the world’s largest producer of graphic and artificial intelligence chips, Nvidia. As per a statement by Nvidia, the company has tied up with JLR to jointly develop and deliver next-generation automated driving systems and AI-enabled services for the customers of the carmaker. The scrip surged around 2% to hit an intraday high of Rs 511 per share.
Gold prices in India were trading flat on Thursday, even as international rates hovered near 8-month high. On Multi Commodity Exchange, gold April futures were trading Rs 18 down at Rs 49,600 per 10 grams. Silver March futures were ruling at Rs 63,149 per kg, down Rs 150 or 0.24 per cent. Globally, gold steadied near an eight-month high touched earlier this week, as the U.S. dollar and Treasury yields dipped on less hawkish-than-feared Federal Reserve minutes, and as the Ukraine crisis boosted demand for the safe-haven metal, according to Reuters. Spot gold held its ground at $1,868.36 per ounce. U.S. gold futures were steady at $1,871.40.
“17500 mark to be a sturdy wall for Nifty. On the flip side, 17100 is expected to provide vital support to the index, and until the mentioned zone is not breached, a range-bound movement is expected to be seen. Going forward, looking at the technical structure and the sentiments among the market participants, indecisiveness could be sensed. Meanwhile, we might witness some volatility due to weekly expiry and global scenarios in the near term. Hence, a stock selective approach should be taken in the market for the time being, and aggressive bets should be avoided.”
~Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel One
– HUDCO to raise at least Rs 300 crore through three-year and 10-day bonds
– Hero Fincorp to raise fuds through two-year bonds at a 6.2 pe rcent coupon
– Indian Oil sets a 6.14 per cent coupon on five-year bonds, accepts bids worth Rs 1,500 crore
Bank Nifty slipped 219 points or 0.58% to 37,734 in early trade.
Nifty Auto index was the leading gainer, up 1 per cent, followed by Nifty Realty, and Oil & Gas were up 0.4 per cent each. Nifty Bank and Pharma slipped into the red as they pared their opening gains, down up to 0.2 per cent.
Shares of IT major Tata Consultancy Services (TCS) and Infosys were in focus. Both IT company stocks slipped in morning volatile trade.
After opening on a positive note, Sensex and Nifty slipped into red shortly after. While Sensex was down at 57,931, Nifty fell below 17,400 to 17,320.
In the Sensex pack, Wipro, Tech M, IndusInd Bank, NTPC, PowerGrid, Tata Steel, M&M, Nestle, SBI, Infosys, ITC and L&T were the top gainers. HUL, HDFC Bank, ICICI Bank, Axis Bank and HCL Tech, meanwhile, were the top losers.
“Forming bearish candle on Wednesday, eventually Nifty failed to provide positive follow-up action to Monday’s bullish candle. Series of descending tops remains intact on short term charts, hence considering immediate hurdle near 17650, Nifty could revisit levels of 17200-17100 on downside.”
~YES Securities
The Indian rupee is expected to appreciate on Thursday (17 February) due to weakness in dollar. However, expectations of improved jobless claims data from US may support the dollar on lower side. Rising for the second straight day, the rupee appreciated by 23 paise to close at 75.09 against the US dollar on Wednesday as easing of tensions between Russia and Ukraine helped lift risk appetite. At the interbank forex market, the local unit opened at 75.24 against the greenback and witnessed an intra-day high of 74.96 and a low of 75.24. It finally settled at 75.07, a rise of 25 paise over its previous close.
Daily chart indicates Nifty 50 index has reversed its recent downtrend as it has crossed the previous swing high of 17050 and filled the down gap made on 14 February 2022. Upside acceleration towards the 17800 levels is likely once the Nifty takes out the downward sloping trend line that has held down the highs of 02nd and 10th February 2022. It is important that in case of any corrections, Nifty must hold the support of 17224; else the bears could once again gain an upper hand.
NSE Nifty 50 index opened positive but remained highly volatile in a broader trading range of 250 points. The first half saw slight weakness followed by recovery and finally concluded in losses of around 30 points. It formed a Bearish candle on daily scale and lack of follow up buying is seen at higher zones which signals mixed market cues.
Indian equity markets opened higher amid mixed global cues. Sensex was up 258.53 points or 0.45% at 58255.21, and the Nifty was up 92.10 points or 0.53% at 17414.30. Volatility could be the hallmark in today's sesssion until investors are certain that Russia will not invade Ukraine. Tata Motors, Wipro, IOC, Hero MotoCorp and Grasim Industries were among major gainers on the Nifty, while losers were HDFC Life, HDFC Bank, HUL, Britannia Industries and Dr Reddy’s Labs.
“Volatility could be the hallmark until investors are certain that Russia will not invade Ukraine. Nifty will face major hurdles at 17807 mark and would gain strength only above 17807 mark. Intraday hurdles at 17417 mark. For the day, support seen at 17208 and then at 17057. Expect waterfall of selling now only below 16811 mark.”
~Prashanth Tapse, Vice President (Research), Mehta Equities Ltd
Benchmark indices are trading firm in the pre-opening session with Nifty around 17400. The Sensex was up 394.76 points or 0.68% at 58391.44, and the Nifty was up 81.80 points or 0.47% at 17404.
Indian markets are likely to open on a flat to negative note on the back of mixed global cues, led by a mix of US rate hike bets and easing of Ukraine tension, said ICICI Direct
In Nifty’s current series, a Short Covering has been witnessed with increase in price of 0.98% and decrease in OI by -3.69% as of Wednesday wherein there was shedding of 3.79 lakh shares in OI, decreasing from 102.68 lakh to 98.99 lakh shares. Nifty 50 current month rollover stands at 17.15%, while Nifty Put Call Ratio, a sentiment indicator used by traders to gauge the market sentiment and mood, is currently at 0.97 compared to 1.34 of last week, indicating flat –neutral bias.
Nestle, Ambuja Cements: BSE-listed companies such as Nestle India, Ambuja Cements, Veritas (India) and Vasa Retail & Overseas will announce their October-December quarter results today.
Tata Consultancy Services: TCS announced a partnership with MATRIXX Software to integrate TCS HOBS™, its plug and play digital business platform for subscription, device and data management, with the cloud native, converged charging capabilities of the MATRIXX Digital Commerce Platform.
Today' session could witness high volatility on account of the weekly F&O expiry. Meanwhile, investors may also take into account the January Fed meeting minutes, which showed that the US central bank believes it is time to raise interest rates, but also that any decisions would depend on a meeting-by-meeting analysis of inflation and other data. Ukraine situation will also weigh in on investor sentiments.
Oil prices slid over 2% in early Asian trade today after both France and Iran said parties are closer to an agreement to salvage Iran's 2015 nuclear deal with world powers, offsetting ongoing concerns over the situation in Ukraine. Brent crude was trading down $2.43, or 2.6%, at $92.38 after the contract closed up 1.6% in the previous day's trade. Meanwhile, US West Texas Intermediate (WTI) crude was trading down $2.50, or 2.7%, at $91.16 a barrel at 0058 GMT, after it ended up 1.7% the previous day.
Gold steadied on Thursday near an eight-month high touched earlier this week, as the US dollar and Treasury yields dipped on less hawkish-than-feared US Federal Reserve minutes, and as the Ukraine crisis boosted demand for the safe-haven metal. Spot gold held its ground at $1,868.36 per ounce.
Asian markets opened muted today after a superb rally on Wednesday as markets digest the ongoing news flow on Ukraine/Russia & the Federal Reserve action expected in early March. Japan's 'Nikkei' which rose 600 points yesterday was down 100 in early trade while South Korean & Taiwan indices traded in the green. Chinese stocks should see the mixed reaction as they offer good opportunities as contrarian plays when global geopolitical uncertainty persists.
