Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a gap down opening on Thursday, a day of monthly F&O expiry. Nifty futures were trading 242.50 points or 1.42 per cent down at 16820.50 on Singaporean Exchange in early trade. In the previous session, headline indices extended losses to the sixth consecutive session. Sensex closed 68 points or 0.12% lower at 57,232 while NSE Nifty 50 ended 29 points or 0.17% lower at 17,063. Asian stock markets were trading with cuts as investors continued monitoring the intensifying crisis surrounding Ukraine. Japan’s Nikkei fell 0.7 per cent, China’s Shanghai Composite was down 0.25 per cet, and the S&P/ASX 200 in Australia lost 2.5 per cent. Wall Street’s major indexes ended sharply lower on Wednesday, extending their recent rout as Ukraine declared a state of emergency and the U.S. State Department said a Russian invasion of Ukraine remains potentially imminent. The Dow Jones Industrial Average fell 464.85 points, the S&P 500 lost 79.26 points, and the Nasdaq Composite dropped 344.03 points.
India Ratings has revised downwards its GDP growth forecast for 2021-22 to 8.6 per cent from the consensus 9.2 per cent projected earlier. The National Statistical Organisation (NSO), which has forecast 9.2 per cent real GDP growth for the year, will release the second advance estimate of national income on Monday.
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In last few sessions, our markets have traded with higher volatility; however, the volatile moves have been confined within a broad range. When the index comes near the support band of 16900-16800 we see a recovery while at higher levels of 17300-17400, market witness some selling pressure. Due to uncertainty over global news developments, markets participants too seem are not much clear on the directional move. Nifty is trading within a ‘Descending Triangle’ pattern on the daily chart and only a breakout beyond the range of 16800-17400 would bring more clarity on next directional move. Ahead of the monthly expiry day, we saw some build up in 17200-17300 call option which indices it to be a resistance zone for the expiry day. On the flipside, 17000 put option has highest open interest build up. Although the global news flows would dictate the market moves, we advise traders to look for buying opportunities on dips near the support and keep stop loss below 16800 on positional longs. Ruchit Jain, 5paisa.com
Markets are likely to open weak in tandem with the fall in SGX Nifty as Russia’s decision to move troops into eastern Ukraine continues to favour bear camp. Volatility is likely to be the hallmark of day's trading amid expiry of the February F&O series. Ukraine and inflation are the two wild cards that could even force the RBI to reset its recent dovish policy. For Thursday’s trade, until Nifty’s 17421 mark is resistance, volatility will be hallmark and the perma-bulls should strictly not assume any intraday strength as light at the end of the tunnel. Expect further waterfall of selling below Nifty 16811 mark. Please note, the long term trend will be in danger if Nifty slips below 16811-16877 zone. Prashanth Tapse, Vice President (Research), Mehta Equities
Domestic markets continued to struggle for the sixth consecutive trading session on Wednesday, witnessing fag-end selling that pushed indices into the red. S&P BSE Sensex closed at 57,232, down 0.12% while the NSE Nifty 50 index slipped 0.17% to end at 17,063. India VIX, fell nearly 8% but is still above 24 levels. Ahead of the Futures & Options expiry session, SGX Nifty was down a massive 250 points, hinting at further selling on Dalal Street. Global cues were negative amid escalating geopolitical tensions.
After showing a sustainable upside bounce from the lower support of around 16800 levels on Tuesday, Nifty failed to show follow-through up-move on Wednesday and closed the day lower by 28 points, amidst high volatility. A reasonable negative candle was formed on the daily chart at the highs, which indicate a counter-attack of bear’s type pattern. The formation of such a weak pattern immediately after the sustainable upside from the lower support may not be a good sign for the market and this indicates that the lower important support of 16800 could be retested. The consistent lower top formation is intact as per the daily chart and Wednesday's swing high of 17220 could be signalling a formation of another lower top of the sequence, which needs to be confirmed. Such lower top formations and repeated testing of important supports could eventually result in a decisive downside breakout of the said supports.
If there’s one company that can be credited for taking the equity cult to the masses, it has to be Reliance Industries. Back in 1977, the company drew scores of new investors, who had never invested in stocks before, when it went public. The mega share sale by the Life Insurance Corporation of India is further giving legs to the equity cult in India, as millions of new-to-equity customers prepare to board the IPO gravy train.
According to an India Ratings analysis, NSO is likely to peg the FY22 real gross domestic product growth at Rs 147.2 lakh crore. This translates into a GDP growth rate of 8.6 per cent, down from 9.2 per cent forecast in the first advance estimate released on January 7, 2022.
Wall Street’s major indexes ended sharply lower on Wednesday, extending their recent rout as Ukraine declared a state of emergency and the U.S. State Department said a Russian invasion of Ukraine remains potentially imminent. The Dow Jones Industrial Average fell 464.85 points, the S&P 500 lost 79.26 points, and the Nasdaq Composite dropped 344.03 points.
Asian stock markets were trading with cuts as investors continued monitoring the intensifying crisis surrounding Ukraine. Japan’s Nikkei fell 0.7 per cent, China’s Shanghai Composite was down 0.25 per cent, and the S&P/ASX 200 in Australia lost 2.5 per cent.
Nifty futures were trading 242.50 points or 1.42 per cent down at 16820.50 on Singaporean Exchange in early trade.
