Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading 1% down on Monday, on weak global cues. BSE Sensex was hovering around 57300, while Nifty 50 index gave up 17150 level. Index heavyweights such as Reliance Industries Ltd, HDFC Bank, Housing Development Finance Corporation, Infosys, and ICICI Bank, among others contributed the most to indices fall. On the flip side, Dr Redyy’s Laboratories, NTPC, Power Grid Corporation of India, Tata Consultancy Services (TCS), and IndusInd Bank were top Sensex gainers. All the Nifty sectoral indices were trading in the deep sea of red. Bank Nifty was down nearly 1%, Nifty IT lost 0.7%, while Nifty FMCG index declined 1.04%.
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All the Nifty sectoral indices were trading in the deep sea of red. Bank Nifty was down nearly 1%, Nifty IT lost 0.7%, while Nifty FMCG index declined 1.04%
The Nifty index managed to hold 17200 zones. It formed a Bullish candle with long upper shadow on daily and a small bodied Bullish candle on weekly frame indicating tug of war between bulls and bears. Index got stuck in a range of 17200 to 17500 zones from last three sessions and a decisive range breakout is required to commence the next leg of rally. Now till it remains below 17350, weakness may be seen towards 17100 and 17000 zones whereas hurdles can be seen at 17400 and 17500 zones.
Dr Reddy's Laboratories, NTPC, Power Grid Corporation of India, Tata Consultancy Services (TCS), and IndusInd Bank were top Sensex gainers
Index heavyweights such as Reliance Industries Ltd, HDFC Bank, Housing Development Finance Corporation, Infosys, and ICICI Bank, among others contributed the most to indices fall.
BSE Sensex was down nearly 300 points to 57540, while Nifty 50 index gave up 17200 levels on weak global cues.
BSE Sensex tumbled 660 points, while Nifty 50 crashed over 250 pts to trade below 17100 in pre-opening session on Monday
From here on 16800 levels will act as immediate support for the Nifty 50 and if prices slip below this level then 16500 will be the next support zone for the index. The upper band is capped near 17650 levels for the time being.
“Nifty to hold strong support of 16800. Hence investors are advised to adopt buy on dip strategy with focus on benchmark constituents. Cool off in VIX would set the stage for a gradual move towards 17800 in coming weeks. Our preferred sectors are BFSI, Capital goods, Metals and Auto. In large caps, we like Axis Bank, SBI, Bajaj Finance, Reliance Industries, Infosys, Asian Paints, Titan, Tata Steel, Tata Motors while in Midcaps we prefer Siemens, Cummins India, Bharat Dynamics, Voltas, KNR Constructions, Inox Leisure, Trent, Taj GVK Hotels & Resorts.”
~ICICI Direct
Nifty finds support around 17000 while 17600 will act as resistance on the upside. Bank Nifty finds support around 37200 while 38350 will act as resistance.
~IIFL Securities
On the weekly chart, Nifty 50 index formed a small bullish candle with shadows on either side indicating indecisiveness amongst participants regarding the direction. For the last four weeks, the index has been consolidating within a broad range of 17800- 17000 levels representing a short term sideways trend. The chart pattern suggests that if Nifty crosses and sustains above 17400 levels it would witness buying which would lead the index towards 17600-17800 levels.
Indian equity markets had an awful start to last week as the geopolitical concerns between Russia and Ukraine escalated a bit. This resulted in a complete meltdown in global bourses and so as in Indian market too. Markets traded lackluster and ended marginally lower on Friday amid mixed cues. After the flat start, the benchmark inched gradually higher in the first half, however, it couldn’t sustain at higher levels for long and surrendered all the gains by the end. Nifty settled at 17,276; down by 0.2%. Here's a list of stocks in focus today.
As current global cues are forcing global equities to remain unstable, the domestic market is also expected to continue its volatile trend in the coming days. In such a volatile market a prudent approach is to have a balanced portfolio with a mix of equity, debt, gold, and cash. Vinod Nair, Head of Research at Geojit Financial Services
The recent pause in the index indicates caution and it will only ease with stability in the global markets. On the index front, a decisive close above 17,500 in Nifty would help the bulls to regain some strength else sideways to negative bias will continue, with crucial support around the 16,800-17,000 zone. Meanwhile, it’s prudent to limit leveraged positions and wait for clarity. Ajit Mishra, VP Research. Religare Broking
LIC issue seems to be relatively priced based on the price-to-embedded value (P/EV) – a measure for valuing insurance company. LIC’s P/EV is pegged at up to 2.8x, considering a post-listing market capitalisation of Rs 15 lakh crore. That compares with 4.1x for HDFC Life and 2.9x for SBI Life insurance.
Wall Street ended lower on Friday on Russia-Ukraine tensions. The Dow Jones Industrial Average fell 0.68%, while the S&P 500 lost 0.72%, and the Nasdaq Composite dropped 1.23%.
Asian peers were seen trading mixed. Japan’s Nikkei 225 shed 0.41%, while the Topix index dipped 0.36%.
Nifty futures were trading 110 points or 0.64 per cent down at 17170 on Singaporean Exchange.
