Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity markets closed with losses on Tuesday. S&P BSE Sensex fell 388 points or 0.66% to close at 58,576 points while the NSE Nifty 50 index shed 144 points or 0.82% to end at 17,530. Bank Nifty outperformed, gaining 0.36% to finish the day at 37,747. India VIX and Broader markets fell. Axis Bank soared 1.6% higher to end as the top Sensex gainer, followed by Kotak Mahindra Bank, and Power Grid Corporation. Tata Steel was the top laggard, falling 2.63%, followed by Bajaj Auto, and Tech Mahindra.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Bears remained in control on Dalal Street on Tuesday, forcing headline indices to close the day in red. S&P BSE Sensex fell 388 points or 0.66% to close at 58,576 points while the NSE Nifty 50 index shed 144 points or 0.82% to end at 17,530. Axis Bank soared 1.6% higher to end as the top Sensex gainer, followed by Kotak Mahindra Bank, and Power Grid Corporation. Tata Steel was the top laggard, falling 2.63%, followed by Bajaj Auto, and Tech Mahindra. Bank Nifty outperformed, gaining 0.36% to finish the day at 37,747 while India India VIX closed with losses. Broader markets fared worse than benchmarks.
Sensex and Nifty ended the day in the red. Sensex fell 388 points or 0.66% to settle at 58,576 while NSE Nifty 50 closed 0.82% or 144 points lower at 17,530.
Sensex and Nifty were seen moving lower once again with minutes left before the closing bell. Sensex was down nearly 400 points, hovering above 58,500. Earlier the index had trimmed losses to just 200 points. Nifty was just above 17,500.
India VIX, the volatility gauge of domestic markets, was down in the red along with headline indices. India VIX was down 0.49% ahead of the day's closing bell, but still holding above 18 levels.
CareEdge Debt Quality Index (CDQI) witnessed a notable uptick in FY22 from 89.51 in March 2021 to 92.24 in March 2022 largely driven by upgrades in rated debt, and enhancements in rated debt of higher-rated entities and reduction in debt of a large defaulting NBFC on restructuring. The CDQI saw an improvement in all the last five months of FY22. The March 2022 index rose to 92.24 from 91.96 in February 2022, due to the rating of the market borrowing programme of a large power finance company and enhancements in rated debt of other highly rated entities.
~ CareEdge
Sensex and Nifty continue to trim losses as Dalal Street enters the final hour of trade for the day. Sensex regained 58,750 while Nifty 50 was nearing 17,600.
Sensex and Nifty were up from their intraday lows but were still trading with losses. Sensex was down more than 200 points, hovering around 58,700 while NSE Nifty 50 was above 17,550.
Only six stocks on the Sensex were trading with gains on Tuesday afternoon. Power Grid corporation was the top gainer, up 0.95%, followed by Axis bank, Kotak Mahindra Bank, ICICI Bank, Maruti Suzuki India, and Nestle India.
Cathie Wood’s ARK Investment Management sold 1,85,900 shares of Twitter on Monday, extending her selling spree of the social media giant’s stock. ARK ETFs continued to sell twitter shares as Elon Musk decided against joining the board of the micro-blogging website. The value of the shares sold by Cathie Wood’s ARK at the end of yesterday’s closing price was above $8.7 million. Tesla CEO or as he prefers to be called, the Technoking of Tesla, Elon Musk purchased a 9.2% stake in Twitter earlier this month, making him the single largest shareholder of the firm. Shares of Twitter closed at $47.01 on Wall Street on Monday, falling 4.83%.
Elon Musk, Twitter’s largest individual shareholder and undoubtedly one of its most popular users, would not join the company’s board, opening up the possibility of a hostile takeover battle, analysts say. Elon Musk has reserved the right to raise his stake in the company from the current 9.2 per cent, according to an amended US Securities and Exchange filing made on Monday. Read full story
Adani Green Energy share price soared 9.3 per cent to Rs 2,951.90 apiece on BSE, a fresh 52-week high, on Tuesday, a day after the company became 10th most valued firm in India. The company surpassed its previous high of Rs 2,788.70, touched in yesterday’s session. “We expect the counter to continue its outperformance in the coming trading days as well with a target of around 15-18 percent in the long term,” Ravi Singh, VP & Head of Research, Share India Securities, told FinancialExpress.com. Read full story
Rakesh Jhunjhunwala-owned Tata Motors share price may have limited upside potential from here on, said analysts at Credit Suisse in a note. The global brokerage and research firm added that Tata Motors has performed well in the domestic business, gaining market shares in both PV and CV in India and has taken early leadership in EVs in India but sees the premium valuations and Jaguar Land Rover’s ability to compete in the EV space as a concern. Tata Motors’ share price has tumbled 12% so far this year after having skyrocketed close to 145% in 2021. The stock currently trades at Rs 452 per share.
“Nifty Weekly PCROI is highly oversold at 0.46; Expect markets to reverse from here. Technical support at 17,350 & Derivatives support at 17,500 closing basis,” said Rahul Sharma, Director & Head – Research, JM Financial.
Biba Fashion Limited has filed draft papers with the capital markets regulator SEBI to raise fresh capital of upto Rs 90 crore in an initial public offering (IPO).
Credit Suisse has a Neutral rating on Tata Motors with a target price of Rs 274 per share. This implies a 5% upside from today's opening price.
The rejection at 17850 last week, and inability to float above 17760 yesterday for the most part tilts the trend in favour of the bears. This is a mean reversion play that has been on since the test of 18114, aiming 17350 and several congestion points in between have failed to force a change in the ongoing downtrend. The 17560 region will take up that role today, but it may only serve to delay the 17350 move.
~ Anand James – Chief Market Strategist at Geojit Financial Services
Sensex was down more than 500 points on Tuesday morning amid weak global cues while the NSE Nifty 50 gave up 17500 support levels.
Defence Minister Rajnath Singh on Monday urged American companies to come and invest in India and support the ‘Make in India’ programme.”I have talked to American companies for Make in India and aerospace and world programme. I have invited them for these programmes,” Singh told reporters at a joint news conference with External Affairs Minister S Jaishankar along with their American counterparts Defence Secretary Lloyd Austin and Secretary of State Tony Blinken.
“Markets are likely to extend the southbound journey in today's trades amid weak global cues as heightened recession fears, hawkish Federal Reserve and a prolonged Russia-Ukraine conflict remain major concerns for investors. Although interest rates have been the market's main driver for months, earnings season will likely steal away traders' attention soon enough. Nifty’s intraday support is seen only at 17601 mark, while the make-or-break medium-term support is seen at 200-DMA at 17141 mark. Below the same, expect a waterfall of selling which could take Nifty down to 16691 mark with inter-month perspective,” said Prashanth Tapse, Vice President (Research), Mehta Equities.
The Indian rupee is expected to depreciate on Tuesday on the back of strong dollar and risk aversion in global markets. Market sentiments are hurt on worries over supply chain disruption due to Covid-19 lockdown in China, escalating geopolitical tensions in Ukraine and major central banks across globe adopting aggressive monetary tightening policy to combat inflation. “Traders will remain vigilant ahead of inflation data from country. However, a sharp fall in rupee may be prevented on softening of crude oil prices. US$INR (April) is expected to trade in a range of 75.90-76.30,” said ICICI Direct. In the previous session the local unit settled almost flat at 75.94 (provisional) against the US dollar as weak domestic equities negated the impact of easing crude oil prices.
Sensex started the day in red, falling below 58,600 levels while NSE Nifty 50 was below 17600, which could open more weakness for Dalal Street.
Sensex was down more than 100 points during the pre-open session while Nifty was down 50 points, hovering just above 17600.
Results today:
Anand Rathi Wealth, GM Breweries, Hathway Cable & Datacom, Tinplate Company of India, Evexia Lifecare, and Gayatri Bioorganics etc.
On the technical front 17,400 and 17,800 are immediate support and resistance in Nifty 50. For Bank Nifty 37200 and 37900 are immediate support and resistance respectively.
~ Mohit Nigam, Head – PMS, Hem Securities
“Nifty can see more weakness below 17600 with support placed at 17500 and 17350. Weekly PCROI is expected to turn oversold around 0.55 levels. Bank Nifty support seen at 37200 and 36800,” said Rahul Sharma, Director & Head – Research, JM Financial.
Indian stock markets have been witnessing consolidation for the last six months after the phenomenal run for nearly two years. The key indices may spend some more time at these levels before resuming the trend, Ajit Mishra, VP-Research, Religare Broking, told Surbhi Jain of FinancialExpress.com. He expects BSE Sensex to test 64,000 and Nifty 50 to touch 19,500 in the current financial year. Mishra said that even as markets are witnessing the signs of revival on the back of easing geopolitical tension and reopening, factors such as the quantum of US Fed rate hikes, higher inflation will continue to keep markets volatile. Read full interview
“Nifty finds support around 17450 while 17900 will act as resistance on the upside. Bank Nifty finds support around 37200 while 38000 will act as resistance.”
~ IIFL
Hathway Cable, Anand Rathi Wealth: BSE-listed companies such as Tinplate Company of India, Hathway Cable & Datacom, Anand Rathi Wealth, GM Breweries, Evexia Lifecare and Gayatri Bio Organics are among the companies that will announce their March quarter results today.
TCS on Monday posted a good set of numbers for the three months to March 2022 in line with Street estimates. Read full story
Petrol and diesel prices were not changed by oil marketing companies (OMC) on April 11, for the sixth day running. Prices were 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 last 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.
“Looking at the market breadth and the sector-specific moves, it seems that the Nifty would continue to witness some consolidation in a broad range in the short term and the stock specific movement would continue to provide better trading opportunities. The immediate supports for Nifty are placed around 17600 and 17500 while 17750 and 17840 will be seen as intraday hurdles,” said Ruchit Jain, Lead Research, 5paisa.com.
Wall Street closed sharply lower on Monday as investors started the holiday-shortened week in a risk-off mood, as rising bond yields weighed on market-leading growth stocks ahead of crucial inflation data.
Attrition at Tata Consultancy Services (TCS) continued to remain high at 17.4% in the quarter ended March 31, 2022 — a rise of 210 basis points sequentially. However, the good news is that the incremental attrition has moderated, the company management said on Monday.
SGX Nifty was down more than 150 points on Tuesday morning, hinting at a weak start to Dalal Street.
Tata Consultancy Services (TCS) on Monday posted a good set of numbers for the three months to March 2022 in line with Street estimates. The highlight of the quarter was an order win of $11.3 billion, a near-50% jump over the $7.6 billion seen in the December 2021 quarter.
