Share Market News Today | Sensex, Nifty, Share Prices LIVE: Indian benchmark indices moved slightly higher as the Reserve Bank of India kept the key repo rate unchanged, maintaining status quo and maintaining its accommodative stance. The BSE Sensex rose 100 points to 59,157, while the NSE Nifty 50 gained 45 points to 17,684. The broader markets also opened in green and rose higher than the frontline indices. The BSE MidCap and SmallCap indices rose up to 0.64 per cent higher. Tata Steel, Reliance Industries, DR Reddy, Titan, Wipro, Infosys, Asian Paints, Powergrid, HUL, Maruti were the top gainers in Sensex pack, while Sun Pharma, HDFC Bank, NTPC, HDFC, Tech Mahindra, TCS, ICICI bank and HCL Tech were the laggards.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
The new F&O expiry week that opened today, is a holiday-shortened week, as markets would remain closed on 14 April on account of Ambedkar Jayanti and Mahavir Jayanti. Hence, weekly futures and options will expire on Wednesday, 13th April 2022, instead of Thursday. Weekly futures and options contracts expire every week on Thursday, as a fixed standard expiry day for the stock markets. However, if any Thursday is a trading holiday, where the stock market remains closed, then the previous day or the Wednesday is considered the expiry day. Stock markets usually witness high volatility as the expiry day marks the closure of F&O contracts.
NSE Nifty 50 may trade within 17250-18000 range in this week’s futures and options contracts expiry, on the back of mixed global sentiment and other domestic events, such as Q4 earnings, macroeconomic data release (CPI and IIP numbers), Ajit Mishra, VP – Research, Religare Broking, said. In the previous weekly expiry, Nifty was unable to sustain above the 18000 mark, and settled at 17,639, reversing the gains made in Monday’s session. As suggested by the weekly options data, Bank Nifty may stay in a broad range of 36000-38000 levels this week.
A total of 124 stocks hit 52-week high on the Bombay Stock Exchange till 12:00 pm. Meanwhile, five scrips touched 52-week lows on BSE. Adani Green Energy, Angel One, Avantel, Balrampur Chini Mills, Bharat Agri Fert and Realty, Bharat Dynamics, Easy Trip Planners, Gensol Engineering, Gujarat Craft Industries, Hilton Metal Forging, Indian Hotels Company, Indian Link Chain Manufacturers, KM Sugar Mills, Motherson Sumi Wiring India, Palco Metals, Raymond, Sheetal Cool Products, SEL Manufacturing, Polyplex Corporation, Siyaram Silk Mills, Swastika Investmart, Zee India were among the 124 stocks that hit 52-week high on BSE.
The board of Adani Transmission approved issuance of 15,682,600 equity shares of face value of Rs 10 each of the Company to IHC Capital Holding LLC incorporated under the laws of Abu Dhabi, UAE or to a subsidiary or an affiliated special purpose vehicle of IHC Capital Holding LLC on a preferential basis. The shares will be issued at a price of Rs 2,454.95 per Equity Share aggregating to Rs 3,850 crore, subject to the approval of regulatory/ statutory authorities.
Shares of rate sensitive sectors such as financials including banks, non-banking finance companies (NBFCs), housing finance companies (HFCs) and micro-finance institutions (MFIs), real estate and automobiles traded on a mixed note after the six-member Monetary Policy Committee (MPC) kept the repo rate unchanged at 4 per cent.
“Despite the disruptions from geo-political challenges as well as inflationary pressures, the RBI recognises the need to maintain economic growth momentum. We welcome the RBI’s continued accommodative stance and status quo on REPO rate. For the real estate sector, low interest rates for a long period of time has served as a key catalyst for the resurgence of demand. The status quo on REPO rates will help maintain the current demand levels as interest rate for both homebuyers and developers are likely to be maintained by financial institutions,” said Shishir Baijal, Chairman & Managing Director at Knight Frank India.
“The RBI will engage in a gradual and calibrated withdrawal of this liquidity over a multi-year time frame in a non-disruptive manner beginning this year,” RBI Governor Shaktikanta Das said. The liquidity measures undertaken in the wake of the pandemic, combined with the liquidity injected through various other operations of the RBI have left a liquidity overhang of the order of Rs 8.5 lakh crore in the system.
“Retaining the Repo rate at 4 percent & Reverse repo to 3.35 percent, continuing with the accommodative stance on expected lines. Recognising the new reality of higher crude triggered by the war the RBI, as expected, reduced the FY23 GDP growth rate projection to 7.2 percent from 7.8 percent earlier and raised the CPI inflation projection for Fy 23 to 5.7 percent from 4.5 percent earlier. This is based on the assumption of crude at $100. This implies that growth and inflation can be better if crude declines sharply if the war hopefully ends early. The reverse can be true if the war aggravates and crude spikes much above $100.” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Bank Nifty was trading flat with a positive bias on Friday morning after RBI's Monetary Policy Committee decided to keep repo rates unchanged.
Benchmark indices are trading flat. Sensex was sitting in red, 18 out of 30 index constituents moved higher.
The government 10 year bond yield hit 7%, first time since June 2019, after the Reserve Bank of India raised its annual inflation forecast. The bond yield hit a high of 7.007% — a level last seen on 13 June 2019 — up 9 basis points from its previous close of 6.913%. Bond yields and prices move in opposite directions. RBI has increased its annual inflation forecast to 5.7% from 4.5% earlier. The central bank also reduced interest rate corridor to 50 basis points.
Reserve Bank of India is going to restore opening of money market to 9 am from April 18. “From 18th April, bond, FX money market trade to start from 9 am again,” said Shaktikanta Das, RBI Governor.
After RBI announced decision to keep benchmark lending rates unchanged, markets turned choppy. After rising around 50 points initially, both BSE Sensex and NSE Nifty 50 slipped in negative territory. Broader markets outperforming benchmarks, and India Vix cooled off.
Rupee surged 21 paise to 75.82 against the US dollar amid RBI maintaining status quo on benchmark lending rate.
RBI Policy: Inflation forecast revised to 5.7% for FY23 from 4.5% Financial markets are expected to remain volatile due to war, rate tightening by developed countries. RBI will use all tools to enhance resilience of our economy, said RBI governor Shaktikanta Das.
Nifty Bank turned positive after the Reserve Bank announced its decision to keep repo rate unchanged at 4%.
Defense Stocks gained as the government expanded local procurement. Bharat Dynamics rose 3.9%, Bharat Electronics up 1.2%, Mishra Dhatu 4.2%, Garden Reach 0.4%, HAL gained 2%, Cochin Shipyard 1%. Defence Minister Rajnath Singh on Thursday released the third positive indigenisation list of 101 equipment and platforms, which the Services can procure only from the domestic industry. The list includes naval utility helicopters, light tanks, small Unmanned Aerial Vehicles, anti-ship missiles among others.
Indices inched marginally higher as MPC committee in today’s policy announcement, decided to keep Repo Rate unchanged at 4%. Sensex surged over 100 points as RBI maintained 'accommodative' stance', Nifty was holding above 17,650.
Benchmark indices were trading flat in the volatile session ahead of RBI policy announcement. The Sensex was up 61.57 points or 0.10% at 59096.52, and the Nifty was up 20.70 points or 0.12% at 17660.20.
“Ruchi Soya may see some selling pressure on an immediate basis as it will see unwinding in FPO arbitrage positions therefore investors who applied for arbitrage gain, should book profit while long terms investors can remain invested because multiple positive things are going for the company, shortage of Palm oil and oilseeds will improve the realizations which augur well for the profitability in the short to medium term. Technically, the 700 level should act as an immediate floor for the stock.”
~Santosh Meena, Head of Research, Swastika Investmart
PSU banks are in demand ahead of Reserve Bank of India's rate decision. Private banks remained mixed. HDFC Bank, ICICI Bank were at the bottom of the heap.
Ruchi Soya share price jumped 8 per cent to Rs 883 on the BSE, extending its Thursday's 8.5 per cent gain' after 66.15 million equity shares, which were allotted in follow-on-public offering (FPO), started trading on the exchanges from today. In the past one week, the stock has underperformed the market by falling 12 per cent, as against a per cent rise in the benchmark index.
“Today's monetary policy is unlikely to impact the market significantly even if there is a surprising rate hike. That would be interpreted by the market positively indicating that the RBI is not behind the curve. The real concern for the market, going forward, would be the aggressive rate hikes and quantitative tightening by the Fed expected in the coming 12 months. The MPC will certainly raise inflation targets for FY 23 and flag inflation concerns. This will have a short-term negative sentimental impact on rate sensitives. Segments like telecom, IT, pharma and metals which are unlikely to be impacted by higher inflation are in a safe zone. Crude softening to around $100 is a positive while FIIs again turning sellers will provide ammunition to the bears”
~V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Sectorally, the FMCG, Metals and Energy indices on the Nifty were firmly higher, leading gains. While, Banks, Financials, IT, Realty and Auto were flat to marginally positive.
Defence stocks such as Bharat Electronics, Bharat Dynamics, Mazagon Dock, Garden Reach, Mishra Dhatu, Larsen & Toubro, Hindustan Aeronautics, Astra Microwave, Cochin Shipyard, Zen Technologies and Bharat Forge will be in focus after the government announced plans to expand procurement of locally manufactured products. Defence Minister Rajnath Singh said on Thursday released the third positive indigenisation list of 101 equipment and platforms, which the Services can procure only from the domestic industry.
Ahead of board meet, Adani Group stocks traded higher. Adani Green Energy shares jumped 3.5%, Adani Transmission was up .5% and Adani Enterprises was up 1.4%. The Board of Adani Enterprises will meet today to consider raising of funds by way of rights issue, preferential allotment, including a qualified institutions placement or through any other permissible mode and/or combination thereof as may be considered appropriate, by way of issue of equity shares or any other eligible securities, subject to all such regulatory / statutory approvals as may be required including the approval of shareholders of the Company.
Coal India, BPCL, Tata Consumer Products, IOC and UltraTech Cement were among major gainers on the Nifty, while losers were HDFC, Cipla, M&M, Nestle and HDFC Bank.
The broader markets opened in green with the BSE MidCap and SmallCap indices rising up to 0.64 per cent higher.
Indian benchmark indices opened on positive note ahead of the RBI policy outcome. The Sensex was up 219.99 points or 0.37% at 59254.94, and the Nifty was up 76.60 points or 0.43% at 17716.10.
Benchmark indices are trading higher in the pre-opening session. The Sensex was up 230.93 points or 0.39% at 59265.88, and the Nifty was up 65.40 points or 0.37% at 17704.90.
Indian markets are likely to open on a flat to positive note on the back of mixed Asian cues due to worries about the effect of rising interest rate. Also, investors would be closely eyeing the RBI policy meeting outcome for further cues. Investors should focus on buy on dips strategy as we expect buying demand to emerge in the 17700-17500 zone.”
~ICICI Direct
“On the technical front, the key resistance level for Nifty 50 is 17,750 followed by 17,900 and on the downside 17,600 and 17,500 will act as strong support. They key resistance level for bank nifty is 37,900 followed by 38,200 and on the downside 37,200 and 36,900 will act as strong support.”
~ Mohit Nigam, Head – PMS, Hem Securities
“Benchmark indices is expected to make a flat opening as suggested by early trends on SGX nifty. On Thursday markets witnessed extreme volatility amid weak Asian market cues. Investors remained cautious ahead of the RBI monetary policy meet which, is expected to conclude today. Yesterday’s weekly expiry witnessed heightened selling pressure as FII’s offloaded shares worth more than 5000cr. RBI monetary policy will decide the further directions for the markets, we believe RBI will maintain accommodative stance with no change in interest rates but can announce future guidelines of liquidity measures in order to curb surging inflation amid rising geopolitical tensions.
~Mohit Nigam, Head – PMS, Hem Securities
“Nifty finds support around 17600 while 18000 will act as resistance on the upside. Bank Nifty finds support around 37200 while 38200 will act as resistance.”
~IIFL Securities
Petrol and diesel prices were left unchanged by oil marketing companies (OMC) on April 8, for the second consecutive day, after having hiked prices for 14 times so far. Prices have increased by roughly Rs 10 per litre across major cities. Petrol in the National Capital of Delhi currently retails at Rs 105.41 per litre, after last hike of 80 paise that came on Wednesday. Diesel in the city is priced at Rs 96.67. In Mumbai, a litre of petrol and diesel cost Rs 120.51 and Rs 104.77, respectively. Pieces were hiked for the first time in 4 months, 15 days ago. 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 prices and foreign exchange rates.
The dollar extended a squeeze higher on Friday, reaching a new near two-year peak against a basket of peers and a one-month high versus the euro, supported by the prospect of a more aggressive pace of Federal Reserve interest rates hikes. The dollar index rose as high as 99.904 in early Asia trade, its best level since May 2020.
“Nifty ended in red amidst hawkish Fed. Investors eye RBI’s MPC meet outcome to trickle in on Friday. Nifty joined the conga-line of sinking stock markets across globe after minutes from the last March FOMC meeting showed many Fed officials are looking to reduce balance sheet by $95 billion per month. Fed officials also preferred a 50bps increase in the feds funds rate, instead of a 25bps hike. Radiating anxiety and nervousness were also the theme of recession risks that are seen ringing louder as the U.S Treasury yields have inverted again. This happens when short-term bond yields exceed those of longer-term bonds. It means investors are worried about the economy’s long-term prospects. The street will spy with one big eye if Nifty is able to weather overbought technical conditions on the daily charts and hawkish tunes from the Federal Reserve. Hopefully, a dovish RBI comes to bulls rescue. Technically, the make-or-break for Nifty’s support is seen at its 200 DMA at 17111 mark, while intraday support is seen at 17589 mark.”
~Prashanth Tapse, Vice President (Research), Mehta Equities
In March monthly expiry, we witnessed long rollovers in both Nifty and Bank Nifty to the April series as the rollovers were higher than the last 3-month average. However, during this week we have not seen any fresh additions in positions. In Monday’s session, the markets rallied sharply and surpassed the 18000 mark led by the HDFC twins, but the Nifty did not witness any fresh addition in the rally while unwinding was seen in Bank Nifty which indicates short-covering by traders.
“Nifty Index has been trading above all its major moving averages and importantly it is sustaining well above its 200 Day EMA. After yesterday's close, on the lower end, support is visible at 17,450 whereas resistance is seen at 17,750-17,800. Technically, on intraday charts the Nifty is still holding lower high series formation and has also formed a bearish candle which is largely negative. The market will be keenly awaiting the RBI Policy meet outcome today.”
~Harsh Parekh, Technical Analyst, Bonanza Portfolio
“Market has been consolidating in range of 400 points for last couple of days. While the declines are being bought into, follow up is missing at higher levels suggesting some fatigue creeping in. Overall, equity markets have shown strong resilience even though it faces headwinds from uncertain global environment and persistent inflation readings prompting a potential rate increase. Also, India VIX is down near 18 zones which is comforting bulls and needs to sustain at lower levels for market stability. Momentum is seen in Defence, Realty and Sugar sector stocks based on the positive news flows.”
~Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
“Currently the markets are led by the non-institutional players who have begun to aggressively take profits in the face of balance sheet reduction by the US Fed and ahead of the RBI policy meet. Nifty should now take support from 17442-17519 band. Friday’s RBI MPC meet may not bring in any positive surprise and hence there seems to be little build-up ahead of it.”
~Deepak Jasani, Head of Retail Research, HDFC Securities
“Markets will remain volatile on Friday as participants would react to the outcome of the MPC meet. We expect MPC to maintain the status quo on rates however commentary on inflation and growth would be actively tracked. On the index front, a close below 17,700 may result in further decline towards 17,550 levels however resilience in the banking pack is certainly positive. Keeping all in mind, it’s prudent to stay light in the first half and let the markets stablise.”
~Ajit Mishra, VP – Research, Religare Broking
The Reserve Bank of India's rate-setting panel will announce its bi-monthly monetary policy at 10 am today. It is expected that RBI might retain status quo on interest rate but change its monetary policy stance amid rising inflation on account of geopolitical developments. The Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das held its first meeting in the current financial year from April 6 to 8.
Domestic markets closed with losses for the third day running on the weekly futures & options expiry session yesterday. S&P BSE Sensex fell 575 points or 0.97% to settle at 59,034 while the NSE Nifty 50 slipped 168 points or 0.94% to end at 17,639. Domestic markets are now expected to look towards the Reserve Bank of India’s Monetary Policy Committee (MPC) which will end its three-day deliberations today. Analysts expect some volatility on Dalal Street today and chartists see the near-term trend as negative. It would be prudent for investors to be stock specific among such market conditions.
Asian shares opened lower on Friday morning, extending a selling-off this week fuelled by concerns about the Federal Reserve's plans to aggressively tighten monetary policy to fight inflation. MSCI's index of Asia-Pacific shares outside Japan was down by 0.13 per cent. Japan's Nikkei tumbled 0.44%; South Korea's Kospi dropped 0.33%; Australia's ASX 200 gained 0.55%, China's Shanghai retreated 0.06% and Hong Kong's Hang Seng plunged 0.77%.
All three major indices ended marginally higher on Thursday. The S&P 500 ended higher on Thursday, with Pfizer and Tesla fueling a late-session rally while investors eyed the war in Ukraine and a potentially more aggressive Federal Reserve. The Dow Jones Industrial Average rose 0.25% to end at 34,583.57 points, while the S&P 500 gained 0.43% to 4,500.21. The Nasdaq Composite climbed 0.06% to 13,897.30.
SGX Nifty was marginally higher, hinting at a tepid start for BSE Sensex and NSE Nifty 50. Nifty futures traded 16 points, or 0.09 per cent, higher at 17,754.50 on the Singapore Exchange, signaling that Dalal Street was headed for a flat start.
The Indian market ended lower for the third straight session on 7 April, with benchmark indices falling a percent each amid selling across the sectors barring pharma. The Sensex ended 575.46 points, or 0.97 percent, lower at 59,034.95, and the Nifty was down 168.20 points, or 0.94 percent, at 17,639.50. Among sectors, Nifty IT and metal indices declined a percent each, while the auto index slipped 0.8 per cent. The pharma index added 0.4 per cent. The broader market outperformed the frontliners but the BSE midcap fell 0.4 per cent and the smallcap index shed 0.7 per cent.
