Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian equity markets opened on a tepid note amid mixed global cues. Benchmark indices started Friday’s trade with nominal gains tracking mixed global cues. The BSE Sensex rose 200 points to 57,801, while the NSE Nifty was at 17,267, higher by 45 points. The indices, however, turned almost flat within minutes after opening, erasing all gains. Bajaj twins, SBI, HDFC, Bharti Airtel, M&M, and Kotak Bank were the top Sensex gainers, while Titan, PowerGrid, Nestle, HDFC Bank and Maruti, meanwhile, were the top losers. In the broader markets, the BSE MidCap and SmallCap indices were in the positive territory, up to 0.6 per cent higher.
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The Nifty Metal index has continuously set fresh all-time highs in recent weeks as commodity prices soar higher and investors rush towards metal stocks to capitalise on the move. Technically, the index logged a resolute breakout above the last 5-month’s consolidation range with a higher base formed in the vicinity of 100 days EMA, highlighting robust price structure, according to ICICI Direct. “Going ahead, we expect the Nifty Metal index to continue its relative outperformance and head towards 6750 levels as it is the 138.2% external retracement of the recent breather,” they added. Currently Nifty Metal is at a high of 6,565.
“Reliance industries is firing on all cylinders because its petchem business is doing extremely well on the back of a surge in Oil and Gas prices where Singapore GRM is at an all-time high. Its telecom business is unaffected by geopolitical tension and inflation whereas it is exploring synergies in its retail business. It is continuously expanding its path in the renewable energy business that opening more opportunities for the company.”
“Technically, it created a strong base at the 2250 mark then witnessed a smart rally where it has broken out falling channel formation which is leading to fresh bullish momentum. On the upside, 2700-2750 is an immediate resistance area while it has the potential to move towards the 3000 mark. On the downside, 2500 should act as an immediate and strong support level.”
~Santosh Meena, Head of Research, Swastika Investmart Ltd.
The follow-on public offer (FPO) of Patanjali-backed Ruchi Soya Industries had received bids for 66.99 lakh equity shares against an offer size of 4.89 crore shares, a 14 per cent subscription by the morning of March 25, the second day of bidding. Retail investors have put in bids for 25 per cent shares of their reserved portion, while the allotted quota of employees was subscribed 2.3 times. Qualified institutional buyers and non-institutional investors also started submitting their bids, as the portions set aside for them were subscribed 1 per cent and 5 per cent.
India VIX, the volatility index, was trading flat with a negative bias. The index was below 24 levels.
“The formation of higher base above 50 day’s EMA signifies pause in momentum after a sharp up move of 11%. We believe ongoing consolidation would make market healthy and set the stage to eventually resolve above the upper band of the ‘Andrews’ Pitchfork’ and gradually head towards 18000 in the coming month. Therefore, temporary breather should be capitalised on as incremental buying opportunity. Our target of 18000 is based on following observations: a) 80% retracement of entire corrective phase since October 2021 (18604-15671) b) downward slanting trend line drawn adjoining October-January highs (18604- 18350).”
~ ICIC Direct
Benchmark indices are trading flat with positive bias amid volatility. Sensex is up 11.30 points or 0.02% at 57606.98, and the Nifty added 10.70 points or 0.06% at 17233.50.
Zen Technologies stock hit upper circuit. This comes after the company received a project sanction order (PSO) from the Indian Army, for design and development of prototype of Integrated Air Defence Combat Simulator (IADCS).
“Overnight nothing much has changed with oil a bit down, some small sanctions by US after the NATO Meeting and US unemployment figures coming to 53 year low. Range for the day 75.95 to 76.40. Sell the upticks for near term gains could be the call. Importers may buy near to 76.00 levels for cash and March end imports.”
~Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors
Nifty Auto, Metals, PSBs, Realty and Oil & Gas were the notable gainers, while, Nifty Bank, IT, Pharma, and FMCG were subdued.
Motherson Sumi gained 4 per cent on winning an order to manufacture & supply parts for commercial plane interiors to Boeing.
Bharti Airtel said on Friday it has prepaid Rs 8,815 crore to the government to clear its deferred liabilities related to spectrum that the company acquired in 2015 auctions. The prepayment is for instalments that were due in the financial year 2027 and 2028, the company added. “Over the last four months, Airtel has cleared INR 24,334 crores of its deferred spectrum liabilities much ahead of scheduled maturities,” the company said in a filing to the stock exchange.
The Indian rupee is expected to appreciate on Friday amid soft dollar and decline in crude oil prices. Meanwhile, persistent FII outflows and weak global market sentiments may hurt the currency. “Market participants fear elevated inflation may push major central banks globally to tighten monetary policy aggressively. In turn, this may prompt foreign investors to pump out liquidity from emerging markets. US$INR (March) is expected to trade in a range of 76.50-76.10,” said ICICI Direct. In the previous session, the local unit settled 4 paise higher against the US dollar despite a muted trend in domestic equities. At the interbank forex market, the rupee opened at 76.37 against the greenback and witnessed an intra-day high of 76.24 and a low of 76.41 before settling at 76.35.
Bank Nifty index fell nearly half a per cent to 35,392 levels in the morning deals on Friday
Titan Company, Maruti Suzuki, Tech Mahindra, Asian Paints, HDFC Bank, Axis Bank, ICICI Bank were among top index laggards
Bharti Airtel, State Bank of India (SBI), Tata Steel, Kotak Mahindra Bank, Hindustan Unilever Ltd (HUL) were among top BSE Sensex gainers
Sensex is up 188.51 points or 0.33% at 57784.19, and the Nifty added 46.70 points or 0.27% at 17269.50. HDFC, SBI, IndusInd Bank and Tata Motors are the top gainers while Muthoot Finance, Tata Teleservices and Reliance Industries are the most active stocks.
Taking a glance at the F&O data, the 17100-17000 zone is expected to act as a strong support zone. On a net basis, a decrease in open interest was observed in Nifty, indicating a sign of long unwinding at the weekly expiry. In the options segment, the pile-up is visible in 17200 – 17000 Put strikes, which is expected to provide a cushion to any decline.
“Benchmark indices is expected to open on a positive note as suggested by early trends on SGX Nifty. Public sector OMCs hiked diesel and petrol prices again today. This can further impact the corporate earnings as companies are already facing the pressure of rising input cost. We advise investors to remain selective while selecting stocks as nifty can face tough resistance around 17350. On the Technical front, the key resistance level for Nifty50 is 17,300 followed by 17,400 and on the downside 17,100 and 17,000 will act as strong support. They key resistance level for bank nifty is 35,850 followed by 36,200 and on the downside 35,300 and 35,000 will act as strong support.”
~Mohit Nigam, Head – PMS, Hem Securities
In the pre-opening session, Sensex is up 243.21 points or 0.42% at 57838.89, and the Nifty added 64 points or 0.37% at 17286.80.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: Petrol and diesel prices were increased for the third time this week on Friday by oil marketing companies (OMC). Fuel rates have increased by as much as Rs 2.40 per litre after OMC hiked prices after a 4-month pause. Petrol in the National Capital of Delhi currently retails at Rs 97.81 per litre, an increase of 80 paise while diesel in the city is priced at Rs 89.07 up from Rs 88.27 per litre yesterday. In Mumbai, a litre of petrol and diesel cost Rs 112.51 and Rs 96.70, respectively. Pieces were hiked on Tuesday for the first time in 4 months. Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
Oil prices fell about a $1 on Friday as the US and allies considered releasing more oil from storage to cool markets and as traders faced higher costs for trading benchmark Brent futures. Brent crude futures fell $1.07, or 0.9%, to $117.96 a barrel, after sliding 2.1% in the previous session. US West Texas Intermediate (WTI) crude futures fell $1.20, or 1.1%, to $111.14 a barrel, having dropped 2.3% in the previous session.
The total stocks that are banned from trading in the futures and options segment now increased to seven from six earlier after these securities crossed 95 percent of the market-wide position limit. Vodafone Idea and L&T Finance Holdings were the latest addition to the ban list, whereas the exchange removed GNFC from the ban list. Balrampur Chini Mills, Delta Corp, Indiabulls Housing Finance, SAIL, and Sun TV Network continue to be on the F&O ban list published by the exchange.
Nifty finds support around 17000 while 17500 will act as resistance. Bank Nifty finds support around 35400 while 36600 will act as resistance on the upside.
~IIFL Securities
“Nifty remained sideward before ending the session on Wednesday with a marginal loss. The benchmark index found support at the rising trendline on the daily chart. Going forward, the choppiness is likely to remain predominant as long as the Nifty remains below 17330. On the lower end, support is visible at 17000, below which the current trend may change to a negative one. A decisive move above 17330 may induce a directional trend in the market”
~Rupak De, Senior Technical Analyst at LKP Securities
The government on Thursday selected Reliance New Energy Solar among other companies for investment under the Rs 18,100 crore production-linked incentive (PLI) scheme for advanced chemistry cell (ACC) battery storage. Reliance New Energy Solar is a subsidiary of Reliance Industries (RIL). Reliance will receive support for 5 GWh each, the department of heavy industries said. Reliance New Energy Solar's bid for setting up another 15 GWh of capacity has been waitlisted.
“Nifty may mostly waver in today’s trade but bulls will aim hard to hunt for a positive session try and resist gravity. Technically, the make-or-break support level for Nifty is seen at its 200 DMA at 17029 mark. On the other hand, Nifty bears will look to sharpen their claws only below the 17000 mark.”
~Prashanth Tapse, Vice President (Research), Mehta Equities Ltd
“Ongoing global uncertainties like war, rising crude price, Fed’s policy tightening along with a surge in covid cases is keeping the market highly sensitive. If crude prices continue to remain elevated, it would negatively impact economic growth and also lead to high inflation levels. However, ease in geo-political tension will calm down the worries taking the market back to its strength”
Vinod Nair, Head of Research at Geojit Financial Services.
All three major US stock indices rallied more than 1% on Thursday, extending the market's recent rebound, as investors snapped up beaten-down shares of chipmakers and big growth names and as oil prices dropped. The Dow Jones Industrial Average rose 349.44 points, or 1.02%, to 34,707.94, the S&P 500 gained 63.92 points, or 1.43%, to 4,520.16 and the Nasdaq Composite added 269.24 points, or 1.93%, to 14,191.84.
Hong Kong stocks extended the previous day's losses at Friday's open as profit-takers moved in following the market's recent rally. The Hang Seng Index fell 0.96%, while the Shanghai Composite Index dipped 0.10% and the Shenzhen Composite Index added 0.08%. Japan shares opened higher on US chip rallies. The benchmark Nikkei 225 index added 0.62% in early trade, while the broader Topix index rose 0.48%. South Korean stocks bucked the trend, with Kospi trading just below the flatline.
Nifty futures were trading 58.5 points, or 0.34 per cent, higher at 17,280.50 on the Singapore Exchange, signaling that Dalal Street was headed for a positive start.
