Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices began the day’s trade in the positive territory and both Sensex and Nifty jumped 0.74% on the opening bell. S&P BSE Sensex was above 52,600 minutes after the opening bell. NSE Nifty 50 breached 15,750 continued marching higher. Bank Nifty was up 1.2% crossing 34,800. Broader markets were outperforming benchmark indices. India VIX was down 5%. Bajaj Finance shares jumped 3.5% to trade as the top index gainer, followed by Bajaj Finserv, Tata Steel, and ICICI Bank. Down in the red were Asian Paints, Power Grid, HCL Technologies, Bajaj Auto, and TCS.
According to options data, the Nifty is likely to face a hurdle at 15800 as substantial Call writing was seen. Nifty futures ended at a premium of 5 points while IV was up by 3.94%. The major Put base is at 15500 strike with 35 lakh shares while the major Call base is at the 15800 strike with 58 lakh shares.
~ ICICI Securities
Sensex breached 52,700 on Thursday morning as bulls returned to Dalal Street. Nifty was nering 15,800.
“The market pendulum swinging between risk-on & risk-off has become a trend now. However, the 15600 – 15900 range is unlikely to hold for long. If the upper band of 15900 is to be broken decisively, the essential requirement would be FIIs ceasing to sell at this level. But even on Tuesday FIIs sold heavily (Rs 2385 cr). So watch out for FII activity. Meanwhile, the Delta variant scare, which led to the market sell-off on Monday on Wall Street, appears to have died down. Dr Fauci’s statement yesterday that the vaccines are effective against all variants is reassuring. Results declared recently show pressure in financials like banks, insurance firms and NBFCs like Bajaj Finance. But these pressures are likely to be short-lived. Asian Paints’ excellent numbers indicate that there are pockets of business coming out with flying colours in these pandemic times,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Nifty Pharma, down 0.11% was the only sectoral index to be trading with losses on Thursday morning.
“With the reporting of robust corporate earnings, the US markets advanced and the Dow Jones rose by 0.83%, the S&P 500 up by 0.82% and the Nasdaq Composite up by 0.92%. The Asian markets surged early Thursday. European Central Bank meeting and policy announcement later today will be closely tracked. The Asian Development Bank has downgraded India’s economic growth forecast for the current financial year to 10 percent as inflation is seen rising marginally to 5.5%. Government is considering selling its 7.93% stake in ITC, the nation’s top cigarette maker, to meet its disinvestment target for the year. Immediate support and resistance for Nifty 50 are 15,550 and 15,850 respectively,” said Mohit Nigam, Head, PMS – Hem Securities.
Domestic benchmark indices opened with gains on Thursday. Broader markets outperform, Bank Nifty above 34,700. India VIX was down 3%.
Sensex closed in on 52,500 during the pre-open session on Thursday, adding 296 points or 0.57%.
Sensex was above 52,400 during the pre-open session while Nifty was comfortably past 15,700.
Sensex and Nifty soared higher during the pre-open session on Thursday morning. Nifty was above 15,700 while Sensex crosses 52,300 once again.
Nifty, Bank Nifty Outlook: In the current weekly series, Nifty has witnessed a Short Build Up with decrease in price of -1.23% and an increase in OI by 1.39% as of Tuesday wherein there was addition of 1.29 lakh shares in OI, increasing from 93.23 lakh to 94.53 lakh shares. Nifty July rollover stands at 13% as of Wednesday. Nifty Put Call Ratio, a sentiment indicator, used by traders to gauge the market sentiment and mood, is currently at 0.81 compared to 1.37 of last week, indicating neutral-to-positive bias. India VIX, a market volatility indicator often called the fear gauge, is currently trading 13.20% compared to 12.27% of last week. Implied Volatility of Nifty ATM options for the current series is at 13.94% in contrast to 12.13% of last week, indicating higher volatile movement on either side in the coming session.
Our advice is to remain bearish and use a pullback rally to prune long positions and wait for Nifty to close above 15800 level for building long positions. On the lower side, 15500-15600 level will act as immediate support where Puts have been written.
~ HDFC Securities
“After falling over 300 points in the last 2 trading sessions, Nifty is expected to open with a gap up of about 120 points at 15750, traders are advised not to initiate longs at the opening, let the markets settle and enter longs if markets show further strength. 15750 and 15830 will act as key resistance levels while 15580 will act as strong support,” said Gaurav Udani, CEO & Founder, ThincRedBlu Securities.
“The Nifty IV climbed to 14% from 13% indicating a rise in volatility expectations. The Nifty OI PCR declined to 0.81 from 0.89 in the previous session, indicating there was more buildup of OI in the Call segment. In the weekly option chain, buildup of OI was seen in the 15800- 15700 Calls. Combined with a fall in the option price, it indicates that call writing has happened at these strikes implying immediate resistance at these levels for the near term. In fact, traders have sold call options worth nearly Rs1.36 lakh crore on Tuesday, indicating when negative sentiment is at its peak, market strat moving upwards. Put buying was seen in the 15500 strikes indicating that certain traders were taking a bearish view. Going ahead, a decisive close above 15800 would open the door toward our earmarked target of 16000. Failure to do so would lead to prolonged consolidation (16000-15500) with stock-specific action,” said Raushan Kumar, Derivative Analyst, IIFL Securities.
SGX Nifty was up 150 points, extending its lead ahead of the opening bell on Thursday morning. Nifty futures were hinting at a positive start for domestic equities.
A short build-up in the Bank Nifty Futures, short build-up in the Nifty Futures, fall in the Nifty Open Interest Put-Call ratio on the back of Call writing at 15700-15750 levels and short build-up by the FIIs’ in the Index futures segment Indicates that one should be cautious for the markets.
~ HDFC Securities
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The prices of Petrol and Diesel were left unchanged at record highs for the fifth day straight on Thursday by oil marketing companies as crude prices moved southwards. Petrol in the national capital today costs Rs 101.84 per litre, while Diesel in the capital city is retailing at Rs 89.87 per litre. Fuel prices have increased 41 times since May 4 and ten times this month already, sitting at all-time highs. The price of petrol in Delhi has increased by Rs 11.15, while diesel price has surged Rs 10.80 per litre since the rates started increasing more than 2 months back. 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 Hindustan Unilever Ltd, Ultratech Cement, Bajaj Auto, Hindustan Zinc, ICICI Lombard Genenral Insurance Company, Biocon, Mphasis, Bajaj Holdings, Persistent Systems, IndiaMART InterMESH, Bank of Maharashtra, and IEX will announce their April-June quarter earnings on 22 July.
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“Technically Nifty formed a Bearish candle on daily scale and continued its lower highs – lower lows formation of the last two sessions. Key support now stands at around 15,500 zones while on the upside the index may face resistance around 15,800 levels. The Q1 result season has so far been in-line to better than expectations – leading to sector /stocks specific action – which is likely to continue in the near term as well. Also, it may provide investors with some insights into the scale of economic recovery through the management commentaries. Market has seen some sell off from its recent life highs on the back of weak global cues. While the declines are being bought into, follow up is missing at higher levels suggesting some fatigue creeping in. Hence it would be a tough fight between the Bulls and Bears in the coming days and one needs to remain watchful of possible movement in either direction,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
SGX Nifty was up 119 points on Thursday morning. Domestic markets return to action after a brief one-day pause.
On weekly F&O expiry day, Nifty is likely to see a positive opening and trade in a range of 15,550-15,750. The 34,400 level will act as an important level in Bank Nifty on Thursday, and the overall trading range is expected to be between 34,000-35,000, said analysts. The Nifty 50 index lost 1.5 per cent in the last two days, and in intraday deals on Tuesday, it gave up the 15,600 support level, however, recovering from the lows it closed at 15,632. Bank Nifty has fallen nearly 2 per cent so far this week and shut shop at 34,415.45 on Tuesday. Ahead of weekly options expiry, Indian stock markets remained closed on Wednesday, on account of Eid al-Adha. India VIX, the volatility gauge, spiked 4.14 per cent to 13.21 levels on Tuesday.
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The country’s crude oil import bill has increased 190.6% year-on-year to $24.7 billion in Q1FY22 with rising prices of the commodity in the international market and higher procurement volumes with demand for auto fuels returning. The volume of crude oil imported in the quarter, at 51 million tonne, was 14.7% higher than the same period last year. The average price of the Indian basket of crude oil in Q1FY22 was $68.6 per barrel, against the average rate of $30.4 per barrel recorded in Q1FY21.
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