Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading lower on Thursday, a day of F&O expiry of May series. BSE Sensex gave up 51,000 while the broader Nifty 50 index fell below the crucial 15,300. Tech Mahindra, Tata Consultancy Services (TCS), Mahindra & Mahindra, Infosys, HCL Tech, Bajaj-Auto were among Sensex gainers. Asian Paints, IndusInd Bank, Bajaj Finance, Hindustan Unilever Ltd, Maruti Suzuki, HDFC were top index laggards. Nifty IT index was top sectoral gainer, up 0.75 per cent while Nifty Bank index fell 0.21 per cent.
With the world’s worst pandemic outbreak scarring nascent economic recovery, the government may at the beginning of the unlock phase announce another stimulus package for the most hit sectors such as small business and self-employed, Bernstein said. The brokerage in a note said its macro index suggests a deterioration in economic activity during April/May.
Gold prices were seen struggling in the domestic market on Thursday, a day after it crossed Rs 49,000 per 10 gram mark in intraday deals. On Multi Commodity Exchange, gold June futures were trading volatile at Rs 48,795 per 10 gram, as against the previous close of Rs 48,784. Silver July futures were trading weak at Rs 71,374 per kg, down Rs 37, as compared to the last close of Rs 71,411. COMEX gold was trading 0.4 per cent lower at near $1893/oz after a 0.2 per cent gain in the previous session.
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Nifty IT index was top sectoral gainer, up 0.75 per cent while Nifty Bank index fell 0.21 per cent
Asian Paints, IndusInd Bank, Bajaj Finance, Hindustan Unilever Ltd, Maruti Suzuki, HDFC were top index laggards.
Tech Mahindra, Tata Consultancy Services (TCS), Mahindra & Mahindra, Infosys, HCL Tech, Bajaj-Auto were among Sensex gainers
BSE Sensex was above 51,000, while the broader Nifty 50 index topped 15,300 on Thursday.
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Amazon founder Jeff Bezos has picked a date to step down as CEO. Bezos, who grew Amazon from an internet bookstore to an online shopping behemoth, said Wednesday that Amazon executive Andy Jassy will take over the CEO role on July 5.
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BSE Sensex jumped 300 points, while the broader Nifty 50 index topped 15,300 in the pre-opening session on Thursday.
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The biggest hurdle for the Nifty above 15300 is 15430 and we may see that on Thursday. The breadth of the market today was strong and on the positive part of the day was technology were in a bullish mood. Select Financials was also supporting the Nifty. If the Nifty opens towards 15400/15430, we feel it is mandatory to take a profit on long positions. The big support for the market is near 15250 and 15150. Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities
With Indices just shy of the February all-time highs, Thursday’s expiry will be a crucial factor to determine the trajectory of the markets. Also, majority of the companies have declared their results. 15200 will act as a support for the markets & they might inch towards new all time highs in the next few trading sessions. Mohit Nigam, Head, PMS – Hem Securities
Domestic equities look to be flat as of now. With market cap of domestic equities crossing US$3 trillion and market-cap to GDP over 110%, there is apprehension among investors about the sustainability of market rally. With no doubt, domestic equities have been mostly resilient throughout second wave of pandemic as absence of national lockdown, availability of vaccine and continued industrial/manufacturing/infrastructure activities albeit at slow pace with favourable supply chain offered comfort to investors. A sharp drop in daily caseload in second wave and improvement in recovery rates have emboldened investors in last one week. Binod Modi, Head Strategy at Reliance Securities
Nifty futures were trading flat at 15,305 in early trade on Singaporean Exchange, suggesting a cautious opening for BSE Sensex and Nifty 50 on Thursday. Market participants may witness volatility on a day of futures and options expiry of the May series. Besides, investors will take cues from COVID-19 cases, ongoing vaccination drive, oil prices, rupee movement and other global cues.
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The upside momentum continued in the market with range bound action on Wednesday and Nifty closed the day higher by 93 points. A reasonable positive candle was formed with a minor lower shadow, which indicates a comeback of bulls after a higher levels weakness of Tuesday.
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Domestic equity markets continued to rise on Wednesday as headline indices moved closer to their all-time highs. On the closing bell, S&P BSE Sensex was sitting at 51,017 while the Nifty 50 ended the day at 15,301. All sectoral indices, except Nifty Metal and the PSU Bank index closed with gains. On Thursday morning, ahead of the monthly F&O expiry session, SGX Nifty was sitting in the positive territory. Cues from global peers were mixed on Thursday. Wall Street benchmarks closed with gains while most Asian peers were down in the negative during the early hours of trade.
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Nifty index has sustained above the prior week candle of Bullish Marubozu, which confirms the strong bullish trend in the counter. Moreover, on the daily time frame, the index has been hovering above the Downward Sloping Trendline and 21-Days Moving Averages that suggests a bullish strength for the near term. In addition, an indicator MACD & Stochastic witnessed positive crossover, which suggests a bull-run for upcoming sessions. At present, the nifty seems to have resistance at 15450 levels while immediate support is placed at around 15140 levels. Sumeet Bagadia, Executive Director, Choice Broking
The short term trend of Nifty continues to be positive amidst a range movement. Now the market is placed at the crucial juncture of overhead resistance around 15350-15450 levels. If Nifty sustains around this highs for the next couple of sessions, then that could open doors for an upper target of 15800 levels. Any profit booking from the hurdles could be a buy on dips opportunity for short term. Immediate support is placed at 15200-15150 levels. Nagaraj Shetti, Technical Research Analyst, HDFC Securities
With the world’s worst pandemic outbreak scarring nascent economic recovery, the government may at the beginning of the unlock phase announce another stimulus package for the most hit sectors such as small business and self-employed, Bernstein said. The brokerage in a note said its macro index suggests a deterioration in economic activity during April/May.
Read full story
