Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets opened with gains on Tuesday morning. S&P BSE Sensex rose more than 250 points on the opening bell but was soon seen trading flat with marginal gains,m hovering around 57,250. Nifty 50 index was up 0.20%, holding above 17,200. Bank Nifty was up 0.23% along with broader markets. India VIX, the volatility gauge, was down in red but holding around 19 levels. Bajaj Auto was the top index gainer on Sensex up 1.5%, followed by Bajaj Finserv, Maruti Suzuki India, and Tata Steel. Infosys was again the top laggard, 1.3%, accompanied by HDFC and HDFC Bank.
Inflation worries continue to weigh down on Dalal Street. The wholesale price inflation hit a four-month high of 14.55% in March, data released on Monday showed. The spike in WPI inflation mirrors a broad-based spike in global commodity prices, especially that of oil, in the wake of the Russia-Ukraine crisis. Inflation, both WPI and CPI, have soared sharply. The wholesale inflation reflects the price pressure at the wholesale level to be much more than at the retail level. Analysts worry the rise in inflation will dent India Inc.’s earnings and may force RBI to initiate rate hikes at the next policy meet.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
“Gold climbed to $1,998.10 on Monday, buoyed by safe-haven demand, as the Ukraine crisis dragged on and inflation concerns mounted. However, the metal later gave up most gains as the dollar and U.S. 10-year Treasury yields firmed. USDINR shall trade in a range between 75.90 to 76.50 levels. Key companies announcing their quarterly results are ACC, Mastek, LTI etc. Crucial support for Nifty 50 is 17,000 while Nifty may face some resistance at 17,500,” said Mohit Nigam, Head – PMS, Hem Securities.
After having opened with gains, domestic headline indices started trading flat on Tuesday morning. India VIX was in red.
Sensex and Nifty started the day's trade with gains. India VIX was down 2.3%, giving up 19 levels.
Outlook for this week is bullish but a strong dollar is a major headwind for the moment. Couple of important speeches will draw attention. On 19 April Fed’s Bullard will discuss the shape of the US economy and monetary policy. On 21 April Fed chair Jerome Powell and EBC head Lagarde will take part in the IMF panel on the Global Economy. Hence, traders may want to wait for a while before taking a decisive call. MCX Gold June future may experience a small technical correction and price may dip to Rs 52,500 per 10 gram but eventually may rally towards Rs 54,000 per 10 gram in coming weeks. Read full story
Sensex rises 400 points at the start of the pre-open session, Nifty 50 regains 17,200.
“Nifty slipped below the crucial support of 17400 and stayed below it throughout the session (Yesterday). The weakness may prevail over the near term as the index continues to remain below 17400. Going ahead, penetration below 17000 looks possible over the near term; on the lower end, support is visible at 16800,” said Rupak De, Senior Technical Analyst at LKP Securities.
“Bias remains negative below 17400 with multiple supports placed at 17000-16900 (Put writer support +200DEMA). Bank Nifty support at 36400,” said Rahul Sharma, Director & Head – Research, JM Financial.
L&T Info, ACC: BSE-listed companies such as ACC, Larsen & Toubro Infotech, Mastek, Tata Steel Long Products, PCBL, Benares Hotels, Godavari Drugs, and Longview Tea will release their fourth quarterly earnings for FY22 on Tuesday. Read full story
Nifty finds support around 17067 while 17700 will act as resistance on the upside. Bank Nifty finds support around 36400 while 37200 will act as resistance.
~ IIFL
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Lucknow: For the thirteenth day running, petrol and diesel prices were left untouched by oil marketing companies (OMC) on April 19. Prices have been steady for nearly two weeks now after OMCs hiked prices by nearly Rs 10 per litre across major cities. Petrol in the National Capital of Delhi currently retails at Rs 105.41 per litre, after the last hike of 80 paise that came more than a week ago. 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. 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.
” In terms of constant time cycles. Nifty seems to be making a low every 25-27 trading days from the previous low. We are 26 trading days from the low of March 07 2022. Other time counts are also hitting Nifty within the next 1-2 days. Nifty has a major support zone at 16970-16800 and Stochastic could get oversold in the next 1-3 days. Traders should refrain from creating fresh short trades as the Nifty is nearing a major support zone and it is within a time cycle low. What we need is a reversal signal which could prompt a swift bounce in the Nifty,” said Manish Shah, Independent Technical Analyst (SEBI Registered).
“India's inflation based on the Wholesale Price Index (WPI) rose to a four-month high of 14.55 per cent in March from 13.11 per cent in February. The high rate of inflation in March, 2022 is primarily due to rise in prices of crude petroleum & natural gas, mineral oils, basic metals, etc owing to disruption in global supply chain caused by Russia-Ukraine conflict,” said Deepak Jasani, Head of Retail Research, HDFC Securities.
Wholesale price inflation hit a four-month peak of 14.55% in March, mirroring a broad-based spike in global commodity prices, especially of oil, in the wake of the Ukraine crisis, showed official data released on Monday.
