Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian equity markets opened higher amid mixed global cues as Russia Ukraine conflict concerns eased. At open, the 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 session 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. In the broader markets, the BSE MidCap and SmallCap indices were also in the positive territory, up 0.5 per cent each.
Selling pressure in the final hour of the trade dragged the Indian equity benchmarks into the red on Thursday in a session that saw the market fluctuate between gains and losses as investors tracked the Ukraine crisis. At close, the Sensex was down 145.37 points, or 0.25 percent, at 57,996.68, and the Nifty was down 30.30 points, or 0.17 percent, at 17,322.20. The Sensex lost 573 points from the day’s high and Nifty 168 points. “This increase in volatility is likely to remain in the near term as market continues to focus on the geo-political developments around Russia and Ukraine. Other major factors like inflation and interest rate too continue dominate the Global narrative,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates 17 February
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.
“Nifty finds support around 17000 while 17600 will act as resistance on the upside. Bank Nifty finds support around 37600 while 38650 will act as resistance.”
~IIFL Securities
Wall Street bounced off session lows on Wednesday with the S&P 500 crossing into positive territory by the closing bell after the U.S. Federal Reserve released meeting minutes, which said that while the central bank intends to begin raising interest rates to combat inflation, its decisions would be made on a meeting-by-meeting basis. While policymakers agreed that it would “soon be appropriate” to raise the Fed's benchmark overnight interest rate from its near-zero level, they would re-asses the rate hike timeline at each meeting. The Dow Jones Industrial Average fell 0.16%, to 34,934.27, the S&P 500 gained 0.09%, to 4,475.01 and the Nasdaq Composite dropped 0.11%, to 14,124.10
“The short term uptrend status of Nifty remains intact and further upmove above 17490 is expected to pull Nifty towards immediate resistance of 17650 levels. Inability of bulls to sustain the highs could result in another round of downward correction in the market. Immediate support is placed at 17200 levels.”
~Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Trends on SGX Nifty indicated a flat start for the Indian equity market, with a gain of 48 points or 0.28 percent. The Nifty futures were trading around 17,365 level on the Singaporean Exchange.
