Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic markets continued their upward march as Monday’s trading session started. The BSE Sensex gained more than 250points or 0.50% to breach 55,800 levels while NSE Nifty 50 crossed 16,700 mark — a resistance zone. Bank Nifty was above 34,800 while India VIX gained 1.75% nearing 26 levels. Broader markets were inching higher. HDFC Bank was the top gainer up 2.35%, followed by Infosys, Tech Mahindra, and ICICI Bank. In the red, Hindustan Unilever was the top laggard, followed by Reliance Industries, and Bajaj Auto.
Much-awaited LIC IPO is likely to hit the street in May now as the government plans to defer the mega public issue owing to jittery market conditions. Earlier last week, the capital markets regulator SEBI approved LIC’s IPO where the government is looking to sell 5% of its stake. With the current set of approvals from SEBI, LIC can bring the IPO before May 12. The only additional requirement till then will be an addendum to the draft red herring prospectus on the insurer’s December quarter results. The government hopes to raise Rs 65,000-70,000 crore through the IPO.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
In another setback for Paytm, shares of One 97 Communications Ltd, it’s parent company, plunged nearly 12% on Monday, hitting an all time low of Rs 672.10 a piece. Shares fell Monday after the Reserve Bank of India barred Paytm Payments Bank Ltd from onboarding new customers. On NSE, shares opened at Rs 675 a piece, down 12.9% from previous close while on the BSE shares opened at Rs 684, down 11.7% from Friday’s close. Following RBI action, brokerage ICICI Securities cut the company’s target price to Rs 1,285 a unit from the previous target price of Rs 1,352 a piece. At 9:52 am, Paytm shares were trading at Rs 682.05 a piece on the BSE index, down 11.9%. Read full story
HDFC Bank share price rose 2 per cent on Monday after the Reserve Bank of India on Saturday lifted its embargo on new digital launches by the private lender. The banking regulator had barred HDFC Bank in December 2020 from issuing new credit cards and introducing new digital offerings under its ‘Digital 2.0’ programme because of several service outages. “HDFC Bank stock has underperformed the broader banking universe in the recent past and hence lifting of these restrictions addresses a key overhang,” said analysts at Motilal Oswal Financial Services. HDFC Bank share price rose over 2 per cent to touch an intraday high of Rs 1,433 apiece on the Bombay Stock Exchange. Read full story
FMCG companies expect a pick up in sales amid the Holi festival this year to lead into bumper business in the upcoming summer season. They are looking at a probable surge, with 40% of their annual sales in the upcoming summers, after two consecutive years of dampened sales due to Covid related restrictions and curfews. “Around 35-40 per cent of total annual sales comes from the summer season for FMCG companies and but this year it can be more than 40 per cent as COVID restriction has been lifted in major states of India,” said Azaz Motiwala, Founder & CMD, IKON Marketing Consultants Pvt Ltd. Read full story
We expect gold prices to trade sideways to up in the coming week with COMEX spot gold resistance at $2015 per ounce and support at $1950 per ounce. At MCX, Gold April prices have near term resistance at Rs. 54500 per 10 grams and support at Rs. 51200 per 10 gram. COMEX Spot silver has near term resistance at $26.80 per ounce with support at $24.90 per ounce. MCX Silver May has important resistance at Rs. 72800 per KG and support at Rs. 68500 per KG. Read full story
TPIN stands for Transaction Personal Identification Number. Investors looking to sell their holdings need to enter their TPIN on the respective brokerage accounts to initiate the sell order.
“You may face an issue with TPIN authorization when selling your stocks. This is due to an issue with CDSL across all brokers. We are in touch with CDSL to have the issue resolved at the earliest,” said Zerodha on Twitter.
Rakesh Jhunjhunwala-backed Metro Brands' stock price is expected to rally close to 33% from current levels, according to analysts at Ambit who have recently initiated the coverage of the stock. Seeing Metro Brands’ industry-leading throughput, superior store economics and fast trajectory of growth, Ambit has placed a ‘Buy’ call in the stock with a target price of Rs 718 per share. This is the second bullish outlook in favour of Metro Brands in recent weeks with Axis Securities having initiated the coverage with a ‘buy’ call. Rakesh Jhunjhunwala is a pre-IPO investor in Metro Brands.
The Nifty is feeling the heat at higher levels – 16800 is a resistance zone. We need to close above this level for a couple of sessions in order to surmise that the short term trend is shifting. Until then any up move can be a trading opportunity on the short side. The weekly support is upgraded to 16400-16500 and until these do not break on a closing basis, the market is still finding its direction.
~ Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments –
Sensex was down from highs but still in the green while Nifty 50 was down with marginal losses. Half an hour into the day's trade Sensex and Nifty both scaled down from highs.
Metro Brand stock is expected to rally close to 33% from the current market price, according to analysts at Ambit. The brokerage firm has initiated the coverage of the stock with a target price of Rs 718 per share.
“Standing in the way of a 17000-17500 run is the 16720-850 congestion region which is likely to turn upswings lower early this week. The catchment area for such a dip is likely to be 16330-190, but the 16500 vicinity may prove to be a sticky region initially delaying the onset of a directional move,” said Anand James – Chief Market Strategist at Geojit Financial Services.
HDFC Bank share price soared 2.36% to hit a high of Rs 1,433 per share on Monday morning as the stock trades as the top performer on Sensex. The up-move comes after RBI lifted the restrictions on HDFC Bank that restricted the lender from new digital launches.
Paytm shares were down nearly 12% to hit a low of Rs 677 per share after RBI barred Paytm Payments bank from onboarding new customers.
Sensex started the day above 55,800, zooming more than 250 points or 0.50% while the NSE Nifty 50 index was closing in on 16,700.
Sensex and Nifty were trading flat during the pre-open session, moving between marginal gains and losses.
Sensex opens pre-open session in the green while Nifty 50 index was trading flat with marginal weakness.
The Nifty snapped four weeks losing streak and concluded eventful week on a positive note at 16630, up 2.4% underpinned by cool off in crude oil, VIX. In the coming session, index is likely to open on a soft note tracking muted global cues. Nifty to trade with a positive bias while sustaining above Friday’s low (16475). Thus, any pullback towards 16512-16542 should be used to create long position for target of 16629
~ ICICI Direct
As the new week starts investor sentiments will again shift towards the ongoing tussle between Ukraine and Russia. Investors will also be eyeing the rising crude oil prices and its impact on domestic prices and the economy as a whole. It will be interesting to watch when the government will hike the domestic fuel prices.
On the Technical front, the key resistance level for Nifty 50 is 16,700 followed by 16,800 and on the downside 16,500 and 16,350 will act as strong support. The key resistance level for bank nifty is 34,900 followed by 35,200 and on the downside 34,100 and 33,700 will act as strong support.
~ Mohit Nigam, Head – PMS, Hem Securities
Nifty finds support around 16300 while 16800 will act as resistance. Bank Nifty finds support around 34000 while 35200 will act as resistance.
~ IIFL Securities
Equity benchmark Index posted their first weekly advance last week, since early February after a run of four weekly losses, buoyed by dip-buying in sectors such as software and healthcare. Sensex surged by 1216 (up 2.2%) to close at 55550 and Nifty advance 385 points (2.4%) to close at 16630. Russia-Ukraine crisis, higher energy price and rising USDINR kept the market highly volatile this week. USDINR surged to record high at $77, oil price has spiked to $140/bbl and Gold soared to a 19-month high at $2070/ounce during the week.
Bulls finally showed some strength after an almost 9 per cent drawdown in the last seven weeks and formed a bullish engulfing candlestick pattern on the weekly time frame. The nifty has taken strong support of its horizontal trend line which is placed at around 16100 levels and has also given a gain of above two per cent on the weekly chart.
The index needs to take out the hurdle of 16800-17000 zone and till then, we are not out of the woods yet. The main reason for the recent volatility was the geopolitical tensions between Russia and Ukraine which had cascading on commodities (which rose sharply) and equities. Hence, positive news from this crisis would only be a trigger to take the equity markets out of this situation. Until we see index surpassing this hurdle, traders are advised to trade with a stock-specific approach and avoid aggressive positions. The immediate supports for Nifty are now placed around 16350 and 16200.
~ Ruchit Jain, Lead Research, 5paisa.com
Asian shares advanced and oil slipped on Monday on hopes for progress in Russian-Ukraine peace talks even as fighting raged on, while bond markets braced for rate rises in the United States and UK this week. While Russian missiles hit a large Ukrainian base near the border with Poland on Sunday, both sides gave their most upbeat assessment yet of prospects for talks.
SGX Nifty was down in the red ahead of Monday's trading session. Nifty futures on Singapore Exchange were down more than 60 points.
While the mega initial public offer (IPO) of Life insurance Corporation will now happen only in next financial year, chances are that the issue will hit the market by mid-May, if market conditions are stable. This is because any further delay could necessitate additional regulatory requirements, official sources said.
