Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading over half a per cent higher on Friday, on the back of positive global cues. Nifty hit an intra-day record high of 15,455, crossing the earlier level of 15,431.75 touched on February 16 this year. BSE Sensex was hovering around 51,450. ONGC, Housing Development Finance Corporation (HDFC). Reliance Industries Ltd (RIL), Titan Company, State Bank of India (SBI) were among top Sensex gainers. Stocks of Sun Pharma, Dr Reddy’s Lab, M&M, Nestle India, Bajaj-Auto among others were top index laggards, capping the gains in Sensex. Barring Nifty Pharma index, all the sectoral indices were trading with gains. Nifty Bank index gained nearly one per cent, while Nifty Metal index was top gainer, up 2.53 per cent.
After nearly eight months, Union Finance Minister Nirmala Sitharaman will chair the 43rd Goods and Services Tax (GST) Council meeting via video conferencing at 11 am in New Delhi on May 28, 2021. The meeting will be attended by MOS Anurag Thakur besides Finance Ministers of States and UTs and Senior officers from Union Government and States. The GST Council is required to meet once in every quarter. The last meet was held on October 5, which then got extended and ended on October 12, 2020, to finalise contours of borrowings by states to meet shortfall in tax revenues.
Barring Nifty Pharma index, all the sectoral indices were trading with gains. Nifty Bank index gained nearly one per cent, while Nifty Metal index was top gainer, up 2.53 per cent
Stocks of Sun Pharma, Dr Reddy’s Lab, M&M, Nestle India, Bajaj-Auto among others were top index laggards, capping the gains in Sensex
ONGC, Housing Development Finance Corporation (HDFC). Reliance Industries Ltd (RIL), Titan Company, State Bank of India (SBI) were among top Sensex gainers
NSE India in a atweet today informed that NSE will conduct live trading from Disaster Recovery (DR) Site.
Nifty 50 index previous high of 15,432 was hit on February 16, 2021
Nifty hit an intra-day record high on Friday, crossing the earlier level of 15,431.75
Benchmark Indices are expected to open on a positive note as trends on SGX nifty indicate a gap up opening with 49 points gain. Global stocks are trading higher as data showing improvement in the labor market which translate to sharp economic recovery. Moreover, Indian Covid numbers continue to fall & companies are announcing production schedules. Market breadth continues to be positive with FII data continuing to be very bullish. Immediate support for Nifty 50 is 15,200. We are eyeing to hit a fresh all time high in the markets. Mohit Nigam, Head, PMS – Hem Securities
BSE Sensex gained 250 points to trade at 51,400, while the broader Nifty 50 index topped 15,400 in the pre-opening session on Friday
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Domestic equities look to be good as of now. A sharp drop in daily caseload in second wave (remaining below 2 lakhs despite higher testing) and improvement in recovery rates have emboldened investors in last couple of days. Further, robust 4QFY21 earnings and favourable commentaries from managements also aided to lift sentiments. Going forward, likely announcement of phased withdrawal of state level lockdowns in coming weeks and recovery in economic activities can potentially aid market to sustain rally in the near to medium term. However, with market cap of domestic equities crossing US$3 trillion and market-cap to GDP over 115%, there is apprehension among investors about the sustainability of market rally. RBI in its annual report also indicated about the possibility of bubble in equities Binod Modi, Head Strategy at Reliance Securities
Prices of Petrol and Diesel were kept unchanged on Friday across major cities. Petrol in Delhi today costs Rs 93.68 per litre, while diesel in the capital city costs Rs 84.61 litre today. So far this month, rates have been hiked 14 times. Petrol price in Delhi has been increased by Rs 3.28 in May, while diesel price has surged Rs 3.88 per lire. Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices on a daily basis in line with benchmark international price and foreign exchange rates.
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A total of 96 companies including Mahindra & Mahindra, IPCA Laboratories, Max Healthcare Institute, Aditya Birla Fashion and Retail, Glenmark Pharmaceuticals, Central Bank of India, Indian Bank, Sumitomo Chemical, GMM Pfaudler, Hinduja Global Solutions, and Ujjivan Financial Services, will announce their January-March quarter earnings on May 28.
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The overall structure of the market remains positive as investors are upbeat about unlocking of economy in June which will help revive commercial activities. Technically Nifty is poised towards an up move to life time high of 15431 and 15500 zones while on the downside support exists at 15200- 15150 zones Hopes of further stimulus by government is bolstering investor confidence. As the 2nd Covid-19 wave continues to recede in India and pace of vaccination expected to pick up from next month, we expect the long term fundamentals to remain intact. Rising global inflation is a worry but is unlikely to hurt India unless energy prices start picking up. Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services
The GST Council is its upcoming meeting, scheduled to be held on May 28, is likely to take a call on levy of 12 per cent tax on import of oxygen concentrators for personal use. The Delhi High Court last week said that imposition of 12 per cent Integrated GST (IGST) on oxygen concentrators for personal use or those received as gifts is “unconstitutional”.
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Domestic equity markets continued to march higher on Thursday, with benchmark indices now just shy of their all-time highs. S&P BSE Sensex ended yesterday at 51,115 while the Nifty 50 index closed at 15,337 — Nifty’s highest-ever closing levels. On Friday morning, SGX Nifty was sitting in the positive territory, hinting at another day of positive momentum. Cues from global peers were largely positive on Thursday morning. Wall Street equity indices closed with gains while most Asian peers were seen inching higher during the early hours of trade.
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The GST Council is likely to discuss on Friday a reduction in the tax rate on Covid medicines, vaccines and medical equipment as well as means to make up for the shortfall in revenues promised to states. Ahead of the first meeting of the top decision-making body, finance ministers of eight states ruled by non-BJP and like-minded parties — Rajasthan, Punjab, Chhattisgarh, Tamil Nadu, Maharashtra, Jharkhand, Kerala and West Bengal — have devised a joint strategy to press for a zero tax rate on Covid essentials, sources said.
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