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Share Market LIVE: Sensex ends 358 points higher, Nifty closes shy of 15,750; Bajaj Finance shares jump 7% – The Financial Express

India VIX was up 1.59%
(Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets regained positive momentum on Thursday and closed the weekly expiry session with gains. S&P BSE Sensex gained 358 points to end at 52,300 while the Nifty 50 index closed at 15,737. Bajaj Finance skyrocketed 7.69% to end as the top index gainer, followed by Bajaj Finserv, SBI, IndusInd Bank, and ITC. Bajaj Auto, Maruti, Power Grid, and HCL Technologies were the top laggards. Bank Nifty closed 0.95% higher while broader markets outperformed benchmark indices. India VIX closed 1.69% higher at 15 levels. 

Sense and Nifty ended the weekly expiry session with gains. Sensex closed at 52,300 while Nifty was at 15,737.

Sensex ended 358 points higher at 32,300 while the Nifty 50 index closed the day’s trade just shy of 15,750. Bajaj Finance shares gained over 7%.

Bank Nifty surged on Thursday to trade above 35,100 levels. SBI, IndusInd Bank, Axis Bank, and Kotak Mahindra Bank were all trading with gains.

India VIX, the volatility gauge, was up 1.59% at 14.99 levels. The fear gauge started the day in red. 

Bajaj Finance share price jumped 6% on Thursday to trade at Rs 6,038 per share. It was followed by Bajaj Finserv and State Bank of India.

Recovering yesterday’s losses, the Nifty 50 index was inching closer to 15,750 with little less than an hour left before today’s closing bell.

Tata Digital on Thursday announced that it will acquire a majority stake in 1MG Technologies, an online healthcare marketplace. This is the third major investment by the Tata Group in recent weeks after the company announced fitness-focused Curefit Healthcare and online grocery BigBasket. Tata Digital has not disclosed the financial details of the transaction. The company said that the move is in line with Tata Group’s vision of creating a super application that consumers need across different segments. Tata Digital is a wholly-owned subsidiary of Tata Sons.

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On the weekly options expiry day, the wider trading range for NSE Nifty 50 index is 15,700-15,800; and for Bank Nifty index is 34,800-35,000. Both Nifty 50 and Bank Nifty indices opened positive on Thursday. It is likely that both the indices may settle in green on expiry day, technical analysts say citing chart indicators. On a weekly basis, Nifty index is up 0.21 per cent, while Bank Nifty is down nearly 2 per cent.

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“We had some very good IPO listings in the start of the year but then, market focus has been shifted towards Mid-caps & small-caps. Now, again, the IPO market is getting ready for 6 new IPOs in a couple of months. Already two new very good IPO will be opening on 14th June 2021, Shyam Metalics with IPO size of ₹909 Crores and Sona BLW Precision Forgings with IPO size of ₹5550 crores. Shyam Metalics has been receiving very good response in the grey market. Market expects that around 6-7 new IPOs will be coming in a couple of months with IPO size of ₹10,000-₹11,000 crores. Clean Science & Technology expects to come with an IPO in the first week of July 2021 with IPO size of ₹1,500 crores, along with it, India Pesticides, KIMS Hospitals and Dodla dairy are expected to come in the month of June or July. We expect this will be a very good opportunity for the retail investor to make money due to listing gains in a very short time of period,” said Yash Gupta Equity Research Associate, Angel Broking.

Master Plan of Delhi 2041: The national capital is all set to undergo a massive renovation! A vibrant economy, greener environment, rejuvenation of the city’s heritage areas, enhance mobility promoting cleaner fuels are among the key areas encompassed in the draft Master Plan of Delhi 2041. The draft Master Plan of Delhi (MPD) 2041 has been made available on Delhi Development Authority’s official website and public suggestions, objections have been invited, according to a senior DDA official quoted in a PTI report. As per the draft plan, the main focus areas are water, environment, critical resources, housing, mobility, built environment and public places, vulnerability, economic potential, heritage assets and monitoring and evaluation.

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Ion Exchange Ltd share price has skyrocketed 37% so far in June, and 60% since April. Ace investor Rakesh Jhunjhunwala trimmed his stake in Ion Exchange in the previous quarter January-March 2021. Ion Exchange stock has rallied after the company reported that its fiscal fourth quarter net profit more than doubled and revenue soared.  Big bull Rakesh Jhunjhunwala had recently trimmed his stake in the company, from 5.29% to nearly 1%. So far in 2021, the share price of Ion Exchange has soared 123% to now trade at Rs 2,062 per share.

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Mukesh Ambani’s Reliance Industries Ltd share price soared 2.4% on Thursday to trade at Rs 2,229 per share. The stock was among the top gainers on Sensex.

Shyam Metalics and Energy share price in the grey market surged 43 per cent to Rs 436, ahead of its Rs 909-crore IPO, which opens next week on June 14. Shyam Metalics shares were trading with a premium of Rs 140-145 per share in the grey market, over the issue price of Rs 306 per share, on Thursday, one day before the bidding for anchor investors, according to the people who deal in shares of unlisted companies. 

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Bank Nifty opened positive but cascaded down to 34641 levels. Banking stocks gained some strength initially but weakness pulled the index to close with losses of around 285 points. It formed a Bearish candle on daily scale with long upper shadow and continues its formation of lower highs from the last three sessions. Now it has to hold above 34750 zones to witness an up move towards 35250 and 35500 zones while on the downside support exists at 34500 and 34000 levels.

Expiry day point of view : Overall trend is likely to remain volatile and need to holds above 34750 zones for an up move towards 35250/35500 zones while on the downside support exists at 34500 then 34000 levels. Option traders are suggested to trade with nearby Call like 34900, 35000 strikes or Bull Call Ladder spreadTrading Range: Expected immediate trading range : 34250/34500 to 35250/35500 zonesOption Writing : Option writers are suggested to write OTM 35500/35600 Call and 34200/34300 Put with strict stop loss~ Motilal Oswal Retail Research

ITC reported a strong uptick in revenue, across segments during the January-March quarter as demand recovery aided the topline performance. The performance of the FMCG-to-hospitality is expected to get better going forward, improving margins of the company, domestic brokerage firm Geojit Financial Services said. “With constant focus on innovation and improving product mix, ITC is well-placed to capture demand across segments,” the brokerage firm said while maintaining a ‘Buy’ rating on the stock. Currently, ITC trades at Rs 210 per share, up 1.6% on Thursday.

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“After facing some resistance yesterday, the index is trading above the 15600 level this morning which is a positive sign. This zone is a good support area for the Nifty and if we can trade above this patch, we will continue to be in bullish territory. A bounce from here can take the index to 15900-16000 levels,” said Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments.

Reliance Industries’ partly paid shares relisted on the stock exchanges today and began trading at Rs 1,570 per share, after investors paid the first call amount, due last month. The scrip now trades at a discount of just Rs 619 per share to the full paid-up Reliance Industries stocks that trade at Rs 2,189 apiece.

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“Nifty support at 15,565 and 15,470. Expect bounce-back if 15,470 is not broken today. Bank Nifty is nearing oversold territory, look to add in the volatility. Support at 34,000,” said Rahul Sharma, Head Technical Research, JM Financial.

Gold prices on MCX were trading lower on Thursday, mirroring the weak global trends. On Multi Commodity Exchange, gold August futures were trading at Rs 49,022 per 10 gram, down Rs 102 or 0.21 per cent, as against the previous close of Rs 49,124. Silver July futures were ruling at Rs 71,519 per kg, down Rs 365 or 0.51 per cent. In the previous session, silver futures ended nearly one per cent higher at Rs 71,884 per kg.

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Sensex and Nifty began the day’s trade in the positive territory. Sensex regained 52,000 while the Nifty 50 index was nearing 15,700, recouping yesterda’s losses.

Unwinding seen in Nifty futures and the Bank Nifty Futures & Call writing at 15700- 15800 levels Indicates that one should continue to remain cautious for the markets. Therefore, our advise is to create short positions on the rise with the trailing stop loss of 15800 levels. On the lower side 15500 level will act as an immediate support where Put has highest outstanding positions. In the Bank Nifty, our advice is the same to create short position on the rise by keeping trailing stop loss at 35500 level.

~ HDFC Securities

Nifty is just shy of 15,700 mark ahead of the opening bell on Dalal Street on Thursday. Sensex regained 52,000 and was sitting comfortably above the said levels.

“Benchmark Indices are expected to open on a positive note as indicated by trends on SGX Nifty. Dow Jones slipped -0.44% as the investors are waiting for crucial inflation data due today which may hint when the US Fed will tighten their monetary policy. Another important thing to watch today is the ECB monetary policy decision, U.K. and Germany markets fell -0.20% and -0.38% while French equity markets gained 0.20% yesterday. All the major Asian markets were trading in green early Thursday.  Stock specific actions due to Q4 results can be witnessed in stocks like SAIL, Mazagon Dock, NHPC, Eclerx, Tide Water Oil India etc. Immediate resistance levels for Nifty 50 are 15850 and 16000 while key support levels for Nifty 50 are 15500 and 15300. We are bullish on the markets overall,” said Mohit Nigam, Head, PMS – Hem Securities.

Sensex regained 52,000 in pre-open session on Thursday morning. Nifty was trading flat with positive bias.

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel was left unchanged today across metro cities. Petrol in Delhi today costs Rs 95.56 per litre, while diesel in the capital city is retailing at Rs 86.47 litre today. Since May 4, rates have been hiked 22 times. During this period, the price of petrol in Delhi has increased by Rs 5.01, while diesel price has surged Rs 5.56 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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On the day of weekly options expiry, BSE Sensex and Nifty 50 were staring at a gap-up opening, as indicated by trends on SGX Nifty in early trade. Domestic markets direction would depend on the monsoon, opening up of the economy in a graded manner and the pace of on-going vaccination. Besides, corporate earnings, stock-specific development, crude oil prices, rupee movement against US dollar and other global cues will be closely tracked by market participants.

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SGX Nifty slipped ahead of the opening bell. Nifty futures on Singapore Exchange were now up 22 points. 

“Softer to flatter cues from the global markets and fatigue in the local markets at these high levels resulted in profit taking in Indian markets. The Nifty formed an engulfing top like pattern on daily charts after making a triple top like formation over the last three days in the 15773-15800 band. The advance-decline ratio also turned negative after a gap of 5 days. Whether Nifty will show follow-through weakness in the days to come will be keenly watched. 15567-15680 is the band for the Nifty in the near term,” said Deepak Jasani, Head of Retail Research, HDFC Securities.

After showing up-move with range bound action in the last four sessions, Nifty witnessed sharp profit booking from the highs on Wednesday and closed the day lower by 104 points amidst a volatile movement. Nifty opened on a positive note, made an attempt to move up in the early to mid-part of the session. Another new high was registered at 15,800 levels and sharp intraday weakness got triggered in the afternoon to later part of the session.

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Steel Authority of India (SAIL), NHPC, Century Plyboards (India), Parle Industries, Cera Sanitaryware, Mazagon Dock Shipbuilders, eClerx Services, Responsive Industries, Tide Water Oil Company, National Fertilisers and Mayur Uniquoters, among others will announce January-March quarter earnings on June 10.

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“The further direction of the domestic markets would depend on the monsoon, opening up of the economy in a phased manner and the pace of vaccination going forward. As states ease restrictions gradually in June 2021, we expect the demand environment to get better which can have a positive impact on the markets. Technically too, Nifty remain in a positive set up and can see a move towards highs of 16000 zones. Also with many states starting to ease restrictions gradually, we expect the demand environment to improve and the unlock trade to play out well in June 2021,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal.

SGX Nifty was up 33 points on Thursday morning, hinting at positive momentum in domestic equities.  

In its latest monthly report on the economy, the department of economic affairs said as witnessed in the March quarter, where “growth in capex generated positive spill-overs for consumption, including in the contact-sensitive sectors, these steps would facilitate recovery post the second wave”.

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