Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets opened Thursday’s session with gains. S&P BSE Sensex was up more than 350 points or 0.6% to sit around 57,370 while the NSE NIfty 50 index was up 100 points or 0.6%, well above 17,200. Bank Nifty index zoomed 0.75% and neared 36,600 while India VIX fell 4% to sit just below 18 levels. Broader markets were also inching higher. Reliance Industries continued to dominate, up 1.5% as the top Sensex gainer, followed by Bajaj Finserv, IndusInd Bank, and Bajaj Finance. Nestle India was the worst-performing stock, along with Tata Steel and Bajaj Auto.
Information Technology major HCL Technologies will report its quarterly earnings today. So far TCS and Infosys have reported their January-March quarter results among IT companies and Dalal Street has not been impressed. Analysts at ICICI Direct had earlier said that HCL Technologies’ revenues will be partially offset by a cross-currency impact of 30 bps. EBIT margins for the quarter are expected to contract 80 bps on-quarter basis, due to negative operating leverage and continued salary rationalisation amid high attrition. HDFC Securities believes profits could take a hit by 5.6% on-quarter basis to Rs 32.49 billion.
Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Live Updates
Today, market participants will be keeping an eye on the Fed Chairman’s speech and any hawkish comments is likely to extend gains for the greenback. We expect the USDINR(Spot) to trade with a positive bias and quote in the range of 76.05 and 76.50. Gaurang Somaiya , Forex & Bullion Analyst, Motilal Oswal Financial Services
We are witnessing a major upheaval in the rupee as the currency rose from 76.50 to 76.18 giving an opportunity for importers to hedge. Overall, the factors are indicating this might be a short reversal and we might again see a depreciating trend towards 76.60 -76.70. The strength in the US dollar index is likely to keep the rupee's appreciation limited. Besides, the fundamental factors are weaker considering the crude oil prices trading above $100/bl, widening trade deficit, FII outflows etc. Overall, we continue with our expectations for the USDINR to continue to trade in the range of 76-77.00 in the short term. Amit Pabari, managing director, CR Forex Advisors
Campus Activewear has set the price band of its IPO at Rs 278-292 per equity share of face value of Rs 5 each. The public issue comprises an entire offer for sale of up to 4.79 crore shares by its existing shareholders and promoters. The sports and athleisure footwear company will raise Rs 1,400 crore through initial public offering, which is scheduled to open on 26 April and close on 28 April. The company will not receive any proceeds from the offer for sale. Before heading into the IPO, the bidding for anchor investors will open on Monday, 25 April 2022, as per the information provided in the red herring prospectus (RHP). Read full story
Bank Nifty index was also trading with gains on Thursday morning along with broader markets. India VIX was just above 18 levels.
Sensex and Nifty started the day with gains, up more than 0.50% each.
Sensex and Nifty 50 were up with gains after Thursday's pre-open session. Nifty regained 17200.
Sensex zoomed in the pre-open session while Nifty 50 was seen closing in on 17200.
“Short term bottom seems to be in place at 16825 and Nifty can fill the gap on daily charts upto 17457. Expect further short-covering today if +17200 is sustained. Bank Nifty too has taken support 36200 and can witness pullback upto 37000-37400 levels,” said Rahul Sharma, Director & Head – Research, JM Financial.
For the fifteenth day running, petrol and diesel prices were left untouched by oil marketing companies (OMC) on April 21. Prices have been steady for more than 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 weekly options there was Call writing seen at 17,200 strike followed by 17,300 & 17,500 while on the Put side noticeable activity of writing was witnessed in 17,000 ,16,800 & 16,700 strike prices. Options data suggest an immediate trading range between 17,000 and 17,300 levels. Read full story
Nifty index opened positive on Wednesday and remained range-bound within a trading range of 100 points for the most part of the day. During the day it witnessed buying interest from 17050 to 17186 marks but the absence of follow up was not allowing it to hold at higher zones. It formed an Inside Bar and a Harami candle on daily scale and closed the day with gains of around 180 points.
BSE-listed companies such as HCL Technologies, Nestle India, ICICI Lombard General Insurance Company, L&T Technology Services, Tata Communications, Crisil, Cyient, Rallis India, Rajratan Global Wire, Sasken Technologies and Shiva Cement are the companies that will announce their March quarter results today.
After witnessing a massive sell-off during the later part of Tuesday's trade, Nifty showed a sustainable upside bounce on Wednesday and closed the day higher by 177 points. After opening with an upside gap of 87 points (body gap, not a western gap), the market showed range movement with a positive bias that continued for the whole session. The opening upside gap remains unfilled and the Nifty closed at the day’s high. A reasonable positive candle was formed on the daily chart with minor upper and lower shadow.
“If we look at Nifty, the index has formed an ‘Inside Bar’ today at the support zone. Such a pattern signals some consolidation, but many times they set up indications for trend reversals in technical analysis. Since this pattern is formed at the support, the follow up move will be very important now and a move above Tuesday’s high of 17275 will lead to a confirmation of the resumption of the uptrend in Nifty. On the flipside, this support of 16800-16850 will be crucial as if this is breached, then the index will continue the correction towards the next support of 16600. At this juncture, we advice traders to look for follow up move and trade aggressively only on a breakout beyond 16800-17275 range. Till then, focusing on stock specific approach could be a better strategy for trading,” said Ruchit Jain, Lead Research, 5paisa.com.
Markets are largely following their global counterparts, which are currently offering mixed cues. Besides, indications from the domestic front are also not very encouraging. On the index front, 16,800 would continue to act as crucial support in Nifty while the 17,250-17,350 zone would be tough to cross. Keeping in mind the scenario, participants shouldn’t read much into the single-day rebound and stay light.
~ Ajit Mishra, VP – Research, Religare Broking
SGX Nifty was trading with gains ahead of the opening bell. SGX Nifty was up more than 100 points during the early hours of trade of Thursday.
