Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended marginally up on Monday, after trading flat for the most part of the session. BSE Sensex gained 111 points or 0.22 per cent at 50,652, while the broader Nifty 50 index settled just below 15,200 on fag-end buying. State Bank of India (SBI), Larsen & Toubro (L&T), ITC, Dr Reddy’s Laboratories, Axis Bank, Power Grid Corporation of India, Maruti Suzuki and ICICI Bank were among top index gainers. On the flip side, IndusInd Bank was the top Sensex loser, followed by Titan Company, Bajaj Finserv, Hindustan Unilever Ltd (HUL), UltraTech Cement, Mahindra & Mahindra (M&M) were top index laggards. Except for Nifty Metal and Nifty FMCG indices, all the sectoral indices ended in the positive teritory. Nifty Bank index gained one per cent and Nifty PSU Bank index jumped over 2 per cent.
15200-15250 is posing a short-term resistance for the Nifty. However, the trend continues to remain positive and we should be able to achieve 15300. Until then, dips or intraday corrections can be used to enter long positions. The support of 15000 is an important one and as long as that holds on a closing basis, we are in a bullish market. Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments
BSE Sensex gained 111 points or 0.22 per cent at 50,652, while the broader Nifty 50 index settled just below 15,200 on fag-end buying
State-run Canara Bank on Monday said it is looking to raise capital through a mix of equity and debt instruments in the current fiscal and a meeting of the board of directors will take place on May 28. However, the bank has not mentioned how much amount it plans to raise during 2021-22.
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Domestic rating agency Icra on Monday forecast a 2 per cent uptick in growth during the March FY21 quarter, and 3 per cent from the gross value-added perspective. This would mean that the NSO projection of a double-dip contraction is avoided. The agency has placed the full-year contraction at 8.45 per cent.
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Big bull Rakesh Jhunjhunwala has decoded why domestic stock markets stood firm while the grim second wave of coronavirus stunned the nation. The ace investor believes that the sentiment in the country might be negative at this juncture but India’s reality is not negative and hence that has given Dalal Street the nudge. “Sentiment is bad but the reality is not. In the third and fourth quarters, Indian companies have reported the biggest profit growth in the last five years,” Rakesh Jhunjhunwala told Hindi news channel Aaj Tak in an interview aired this week.
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Gold steadied near the highest level in more than four months amid weaker dollar and pullback in U.S. yields showing the investors increased optimism on the precious metal. The dollar stood near its lowest levels in three months; whereas U.S. 10 year yields were hovering near a week low. The Fed has kept their focus on attaining better job data, although now few fed officials have begun lowering expectations for May jobs growth in the U.S. as business hiring plans continue to outrun supply of people able or willing to work. Economic calendar is muted for the day, although focus will remain on the U.S. consumer confidence and GDP data scheduled later this week. Holdings of SPDR Gold, rose 0.6% to 1042.92 tonnes on Friday. Broader range on COMEX could be between $1865- 1900 and on the domestic front prices could hover in the range of Rs 48,400- 48,900. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services
Most of the high-frequency economic data we track looks awful, but we see some indications of having crossed a trough in economic activity. Mobility metrics, trending downwards across India, have started to improve in Mumbai and Pune. Mumbai and Pune were two of the first cities to peak in the second wave. Extrapolating, we expect to see a broad-based recovery in mobility metrics in the near future. The other economic indicators should start to improve shortly thereafter. Kotak Institutional Equities
Strong SBI maintained its strong asset quality performance in Q4FY21 with slippages at ~ Rs 55 Bn (less than 1% of the book) and a stable restructured book (Rs 179 Bn). Headline GNPAs were restricted to ~5.0% vs. 5.44% QoQ (on pro-forma basis). Profitability was aided by the non-interest income of Rs 162 Bn, up 0.9%/76% YoY/QoQ, on account of higher recoveries and good fee income growth. Loan growth was steady at 5.3%/3.4% YoY/QoQ and was driven by retail book at 17% YoY. Deposits grew 13.6%/4.1% on a YoY/QoQ basis. Axis Securities
Natco Pharma share price hits 20 per cent upper circuit at Rs 1,188.95 apiece, also its all-time high, in intraday on BSE, after the company initiated phase III clinical trial to evaluate the efficacy and safety of Molnupiravir capsules in mild COVID-19 patients in India. Natco’s clinical trial has been planned in 32 hospitals across India. Natco Pharma stock price has surpassed its previous high of Rs 998 per share, touched in the previous session.
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MCX reported weak set of numbers for the quarter ended 31st March 2021, Revenue down by 20%, Profit after tax down by 41%, average daily turnover down by 14% in Q4FY2021. On the cash flow side the company reported negative cash flow while a huge jump in current liability in this quarter. Yash Gupta Equity Research Associate, Angel Broking Ltd
Natco Pharma Limited announced that the company and its marketing partner, Breckenridge Pharmaceutical Inc. (BPI), has received final approval for its Abbreviated New Drug Application (ANDA) for Everolimus Tablets (generic for ZORTRESS ®),from the U.S. Food and Drug Administration (USFDA). NATCO’s partner BPI plans to launch 0.25 mg, 0.5 mg and 0.75 mg strengths of the product shortly. The above strengths of Everolimus are indicated in the Prophylaxis of Organ Rejection in Kidney Transplantation and Liver Transplantation. As per industry sales data, ZORTRESS® and its therapeutic equivalents had generated annual sales of $162million during the twelve months ending March 2021 in the US. This is another very good approval for the company along with REVLIMID Yash Gupta Equity Research Associate, Angel Broking Ltd
Fund managers across the globe are over the fear covid-19 pandemic, according to Bank of America’s (BofA) recent fund manager survey. Among the 194 fund managers surveyed by the global investment bank, as many as 35% of the respondents believe inflation is now again the biggest risk for markets. Meanwhile, only 9% believe covid-19 to be the biggest tail risk for investors. Although inflation is seen as a risk, 69% of the respondents continue to remain bullish and expect an above-trend growth accompanying their expectation of above-trend inflation.
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State Bank of India (SBI) share price rose as much as 4.4 per cent to Rs 418.90 apiece on BSE, after the bank on Friday reported an 80 per cent surge in net profit in the fourth quarter ended March 2021. The stock price was near its record high of Rs 426.45 apiece, touched on February 18, 2021. In traded volume terms, 20.84 lakh shares have traded on the BSE so far in the intraday. While over 6 crore units of State Bank of India have exchanged hands on the NSE.
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SBI (State Bank of India), Infosys, Reliance Industries Ltd (RIL), Tata Steel and L&T were among top BSE Sensex contributors.
The remarkable thing over last week was RBI’s Forex reserves, which jumped to $590.028 billion supported by a higher valuation of foreign currency assets (FCA) and not on their actual buying in the spot market. However, RBI is expected to continue building their reserves ahead of any uncertain FED TAPERING TALK and hence RBI could switch now to the currency market. Overall, Indian Rupee’s story from the weakest currency in April to the strongest currency in May in the emerging market suggests higher volatility. The changing global and domestic dynamics every now and then urges not an easy path for the Rupee and its traders. We expect Rupee to consolidate between 72.50 to73.50 over the short-term and 72.50 to 74.50 over a medium-term basis. Amit Pabari, managing director, CR Forex Advisors
The Nifty has powered up further this morning and we should expect the index to head towards 15300 as the next target. Any dip or intraday correction can be used to enter long positions for higher levels. The support has been upgraded to 15000 and as long as this level holds, any fall can be utilized to accumulate. Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments
Titan Company, M&M, IndusInd Bank, HUL, UltraTech Cement, Bharti Airtel were top index losers
SBI, Power Grid Corporation of India, HDFC Bank, L&T, Maruti Suzuki were among top Sensex gainers
COMEX gold trades 0.5% higher near $1885/oz after a 0.3% decline on Friday. Gold remains supported by persisting inflation concerns, diverging virus situation, mixed economic data from major economies and pick up in investor buying. However, weighing on price is recovery in US dollar from Friday’s low, concerns about Indian demand and easing geopolitical tensions in Middle-east. Gold may remain volatile as market players assess central bank stance however continued recovery in equity markets may reduce its safe haven appeal pressurizing prices. Ravindra Rao, CMT, EPAT VP-Head Commodity Research, Kotak Securities Ltd
The elongated up moves followed by shallow price correction highlights robust price structure that makes us confident to revise our target to 15700 for the month of June 2021, as it is 123.6% external retracement of Feb-April Correction (15432-14151). Therefore, any cool off from hereon should be capitalised as incremental buying opportunity in quality large cap and mid-caps.
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Nifty closed at 15175 with a gain of 498 points on a weekly basis. On the weekly chart the index has formed a long bullish candle forming higher High-low compared to previous week and has closed above previous week’s high indicating positive bias. The index is moving in a Higher Top and Higher Bottom formation on the weekly chart indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 15200 level it would witness buying which would lead the index towards 15350-15500 levels.
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BSE Sensex was trading 246 points or 0.49 per cent up at 50,786, while the broader Nifty 50 index reclaimed 15,250.
BSE Sensex was trading 200 points up while the broader Nifty 50 index was ruling over 15,200 level in the pre-opening session on Monday.
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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were left unchanged today. So far this month, fuel prices have been increased 12 times. Petrol in Delhi today costs Rs 93.21 per litre, while diesel in the capital city costs Rs 84.07 litre today. Petrol price in Delhi has been increased by Rs 2.81 so far in May, while diesel price has surged Rs 3.34 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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BSE-listed companies such as Grasim Industries, India Cements, JK Paper, Mahanagar Gas, Barbeque-Nation Hospitality, Dalmia Bharat Sugar and Industries, India Cements Capital, JSW Holdings, Lakshmi Machine Works, Loyal Textile Mills, Pharmaids Pharmaceuticals, Poly Medicure, Ramco Cements, Ramco Industries, Sparc Systems, Summit Securities, Tiaan Consumer, Tirupati Tyres, UTL Industries, and Wall Street Finance, among others will announce January-March quarter earnings today.
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Commodity prices traded mixed during the week passed by with Bullion prices rallied on inflation hedge. Base metals complex continued downside as China signalled policy action to curb rising prices. Crude oil prices declined with progress in Iran nuclear talks adding supply pressure.
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Domestic equity markets soared higher in the previous trading week, as benchmark indices nearing their all-time higher. S&P BSE Sensex settled at 50,540 points on Friday while the Nifty 50 ended at 15,175. However, the upward march might face some resistance with Nifty futures on Singapore Exchange trading in the red on Monday morning. Global cues were also mixed during the early hours of trade. On the charts, Nifty registered a nine-week high at 15,190 on Friday and closed near it. “We observe an upside breakout of the downward slopping trend line at 14900, as per week’s close. This is a positive indication,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
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The short term trend of the market has turned sharply into positive, after a weakness of couple of sessions. The confirmation of upside breakout of the broader range as per smaller and larger timeframe charts and the overall positive set up could point towards the potential upside pattern target of around 15800 levels for Nifty, which could be achieved in the next few weeks. Intermittently, the higher highs and lows and minor downward corrections could be continued till the target is achieved. Immediate support is placed around 15100-15050. Nagaraj Shetti, Technical Research Analyst, HDFC Securities
Technically, Nifty formed a strong Bullish candle on daily and weekly scale while has been forming higher top – higher bottom from the last three weeks. Now, it has to hold above 15050 zones to witness an up move towards 15300 then life time high of 15431 marks while on the downside support exists at 15000 and 14900 zones. India VIX fell down by 2.90% from 19.65 to 19.08 levels. India VIX needs to hold below 20 zones to extend the bullish market momentum towards new life time territory. 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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After the RBI surprised the Centre with a record Rs 99,122 crore in surplus transfer for FY21, analysts said this will help the government tide over the revenue losses from lockdowns and extend more support to the pandemic hit industries and to the poor people.
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