Share Market News Today | Sensex, Nifty, Share Prices LIVE: Dalal Street opened in green on Wednesday. BSE Sensex was up 0.49% above 58,300 points while NSE Nifty was up 0.61% above 17,400 points. Dr Reddy’s Laboratories, Bajaj Finance, IndusInd Bank, Reliance Industries and HDFC Bank were among the top gainers on BSE Sensex. While Bharti Airtel, Asian Paints and ITC were among the top losers on the benchmark index. One97 Communications, the parent company of Paytm, said its business fundamentals remain robust after NSE seeked clarification on stock’s movement, which hit fresh lows on Tuesday. Paytm’s stock was up nearly 1.5% on Wednesday.
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Hindalco Industries, IOC, Axis Bank, HDFC Bank and Tata Steel were among major gainers on the Nifty, while Bharti Airtel, Britannia Industries, Coal India, Cipla and Hero MotoCorp were the top losers.
Indian benchmark indices opened on a positive note amid mixed global cues.
The Sensex was up 418.72 points or 0.72% at 58408.02, and the Nifty 50 was up 123.70 points or 0.71% at 17439.20.
Technically, the indices took the support near the 200 day SMA or 17000/56900 and reversed quickly. It also formed a long bullish candle on daily charts which is broadly positive. For the trend following traders, now the 50 day SMA or 17200/57600 would act as a trend decider level. Above the same, the uptrend wave will continue till 17380-17435/58300-58500. On the flip side, below 17200/57600 uptrend would be vulnerable.
“Benchmark Indices are expected to open on a Positive note as suggested by trends on SGX Nifty. US stock markets ended positive on Tuesday after Treasury yields marched higher on Tuesday, as investors digested the increased likelihood of swift interest rate hikes following hawkish comments from the US Federal Reserve. On the technical front 17,200 and 17500 are immediate support and resistance in Nifty 50. For Bank Nifty 36000 and 37,000 are immediate support and resistance respectively”
~Mohit Nigam, Head – PMS, Hem Securities
“Only below Nifty 17000 zone, expect a waterfall of selling which could take Nifty down to 16691 mark with inter-week perspective. We suspect the technicals are aggressively bullish which should take Nifty above its biggest hurdles at 17807 mark,” Prashant Tapse, Vice President (Research) at Mehta Equities said.
“The street is actually buoyant after Reserve Bank of India Governor Shaktikanta Das has said that there is no prospect of the economy falling into a stagflation vortex and retail inflation is expected to moderate going forward,” Prashant Tapse, Vice President (Research) at Mehta Equities said.
“Benchmark Nifty to trade on optimistic note on the back of firm global cues as it aims to reclaim 17500 mark, with investors looking beyond Fed Chair Jay Powell's hawkish comments. Helping sentiments are also the FIIs cues as they had bought shares worth RS 384 Crores in yesterday’s volatile session,” Prashant Tapse, Vice President (Research) at Mehta Equities said.
One 97 Communications Ltd, Paytm's parent firm, on Tuesday said that the company has been complying with the regulation of the Securities Exchange Board of India (SEBI) and there is no information to share related to the price movement of Paytm, the company said in a BSE filing on Tuesday. The company's response comes after the Bombay Stock Exchange sought to know about steep fall in the Paytm share price, which has corrected nearly 75% from its issue price.
Petrol and diesel prices were hiked on Wednesday for second day in a row. Consumers will have to shell out as much as 80 paise per litre more from today as compared to Tuesday after the Oil Marketing Companies (OMC) hiked prices.
US markets closed in green as Nasdaq led Wall Street's main indexes higher, as investors bought the dip in technology stocks such as Apple and Amazon, according to Reuters report. Nasdaq rose nearly 2% while Dow was up 0.74%. S&P 500 gained 40.63 points or 1.13%.
Tata Consultancy Services: The Rs 18, 000 crore share buyback by TCS, witnessed 5.5 times more demand than the proposed offer with one more day left for its closure.
Ruchi Soya: Ruchi Soya Industries will launch its follow-on public offering (FPO) on March 24 to raise Rs 4,300 crore.
Dalal Street is expected to open in green on Wednesday, according to SGX Nifty. SGX Nifty was hovering around 17,441.20 about 0.35%.
