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 down on Wednesday, on weekly expiry day. BSE Sensex was hovering around 48,850 while Nifty gave up 14,800. Housing Development Finance Corporation (HDFC), Mahindra & Mahindra, Hindustan Unilever Ltd, HDFC bank, Tech Mahindra, Kotak Mahindra Bank, TCS were among top Sensex losers. On the flip side, NTPC, Power Grid Corporation of India, ONGC, Sun Pharma, State Bank of India, Asian Paints, Dr. Reddy’s, ITC were among top index gainers. Trends on Nifty sectoral indices was mixed. Nifty Bank and Nifty IT indices fell over half a per cent, while Nifty Financial Services was down nearly one per cent. Nifty Metal index gained 0.7 per cent.
Global rating agency Moody’s on Tuesday sharply trimmed its India growth forecast for FY22 to 9.3% from 13.7% estimated in February, stating that the severe second wave of coronavirus infections will “slow the near-term economic recovery and could weigh on longer-term growth dynamics”.
Zomato and Swiggy have established a duopoly in the food-delivery market in India with a combined ~90% market share. Amazon, which started its food delivery service, Amazon Food, in Bengaluru last year in four zip codes, has expanded to 62 zip codes now. Food delivery is free to its prime members. Even as it is limited to one key market in India, Amazon Food is vigorously trying to undercut competition. Anand Rathi Financial Services
Supply disruption, especially of agricultural products, was the main reason for the spike in inflation in India during the first wave. This is less of a risk now. Higher commodity prices, however, are of greater concern. On balance, we expect Inflation not to be a major concern and policy accommodation would continue. Anand Rathi Financial Services
Higher global commodity prices are likely to keep India’s trade and current account deficit relatively high. Worsening of the near-term growth outlook and narrowing of India’s interest rate differential with high-income countries can reduce the capital account surplus. The combined impact would be continued 3-6% depreciation of the rupee in FY22. Anand Rathi Financial Services
Akshaya Tritiya is considered an auspicious day to buy gold and usually we see buying some demand ahead of it and also on that particular day. Overall, the MCX gold price continues to exhibit a strong solid show after a big blowout of the US Nonfarm payrolls data. After hitting a more than two weeks low of 46462 MCX Gold made a reversal thereafter to currently trade around 47900. The Immediate resistance is at 48250 and then at 48360. So consistent trading above 48400 will open doors for 49000-49700. However, support is located at 47330-47000-46500. Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services
The love for the yellow metal among Indians is no secret, and buying gold on Akshaya Tritiya is considered auspicious. But this time around gold buying may get affected due to the outbreak of the second wave of COVID in cities in India. It is advisable for investors and gold buyers to not venture out during these times and opt for digital/paper gold instead of physical gold. Gold prices are on an up move, helped by the weak jobs data, softness in the USD, a broader view that the interest rates will be low in the US for a long time. Gold prices are trading near a 3-month high in international markets, domestically gold prices are hovering near the Rs 48,000/10 gm level. The vaccination drive, control over the number of cases, and lockdowns internationally coupled with the movement of the USD will drive prices of gold moving forward. Nish Bhatt, CEO & founder, Millwood Kane International
The recent uptick in the Indian Rupee against USD will definitely help traders to adjust their valuation after considering inflation expectation. Further, RBI is letting Rupee to appreciate in a given environment to calm down the pessimistic sentiment. However, probability of odds of converging global and domestic sentiment is higher and hence it seems that Rupee doesn’t have much room to appreciate from the current levels. In the near term, one could see USD-INR pair bottoming out near 73.20-30 zone and resume its upside rally again towards 74-74.50 levels. As mentioned, all eyes will be on US and India CPI data. Amit Pabari, manging director, CR Forex Advisors
Godrej Consumer Products share price zoomed 25 per cent to a fresh 52-week high of Rs 894 apiece intraday on BSE, a day after the company posted a 59 per cent on-year rise in consolidated net profit to Rs 365.84 crore in the fourth quarter of FY21. The company also informed that Sudhir Sitapati will join the company as managing director and chief executive officer effective October 18.
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Yesterday gold prices down by 0.66% and closed at 47633 levels however in international market it is hovering at $1830 levels. Appreciation in Rupee pressurized the domestic gold. Yesterday gold prices down by 0.66% and closed at 47633 levels however in international market it is hovering at $1830 levels. Appreciation in Rupee pressurized the domestic gold. Gold declined after Federal Reserve policy makers said the U.S. economy is on the road to recovery despite still facing risks, while traders await consumer price data later Wednesday amid jitters over inflation. Weakness in dollar support the gold prices. Long term trend of gold is positive. In domestic market it is expected to increase the demand of gold on this Akshaya tritiya. In the long term we are expecting that gold may test Rs 53,000-55,000 levels till the year end. Anuj Gupta, VP – Commodity and Currencies Research, IIFL Securities
COMEX gold trades modestly lower near $1828/oz after a 0.1% decline yesterday. Gold weakened as the US dollar index stabilized after setting Feb. low yesterday. Also weighing on price is concerns about India’s consumer demand amid rising virus cases. However, supporting price is dovish stance of most Fed officials. Gold’s upward momentum halted just short of $1850/oz level and we may see choppiness unless there is more clarity about Fed’s monetary policy however general bias is still on the upside. Ravindra Rao,CMT, EPAT, VP- Head Commodity Research at Kotak Securities
Global indices provider MSCI (Morgan Stanley Capital International) will add six stocks to its India index, including Adani Enterprises and SBI Cards and Payment Services, and will remove Zee Entertainment Enterprises from the index, it said. The changes are part of its May 2021 semi-annual index review. Investors across the globe follow MSCIs indices, and international funds often construct their portfolios based on MSCI’s global indices. Earlier this year, MSCI tweaked its methodology for picking stocks that may be added to its indices.
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The Nifty is keeping above the 14700 level – we will threaten the current uptrend if we close below 14700. The situation would need to be reviewed then. Until then the trend continues to remain up and traders can strategically find ways to enter the market on dips. The markets can scale higher to 15200-15250. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
Gold prices were trading lower in India on Wednesday, taking cues from international rates as a rise in US Treasury yields and a strong dollar dented the metal’s safe-haven appeal. On Multi Commodity Exchange, gold June futures were trading Rs 136 or 0.29 per cent down at 47,497 per 10 gram, as compared to a previous close of Rs 47,633 per 10 gram. Silver July futures were ruling at Rs 71,324 per kg, down Rs 605 or 0.84 per cent.
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Trends on Nifty sectoral indices were mixed. Nifty Bank and Nifty IT indices fell over half a per cent, while Nifty Financial Services was down nearly one per cent. The nifty Metal index gained 0.7 per cent.
NTPC, Power Grid Corporation of India, ONGC, Sun Pharma, State Bank of India, Asian Paints, Dr. Reddy’s, ITC were among top index gainers
Housing Development Finance Corporation (HDFC), Mahindra & Mahindra, Hindustan Unilever Ltd, HDFC Bank, Tech Mahindra, Kotak Mahindra Bank, TCS were among top Sensex losers
BSE Sensex was down over 200 points or half a per cent at 48,936, while the Nifty 50 index was down 50 points or 0.33 per cent at 14,801
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Benchmark Indices are expected to open on a cautious note. Asian markets were down and & Dow Jones fell 500 points as speculations of rising inflation pressure prompting interest rate hikes rose. Key companies announcing their quarterly results today include Asian paints, Lupin, UPL, Apollo Tyres, Tata Power, Borosil Renewables, Happiest Minds, Sagar Cements etc. Immediate support and resistance for Nifty 50 are 14,800 and 15,000 respectively. Nifty should close above 15,000 to continue the bullish trend. Mohit Nigam, Head, PMS, Hem Securities
US indices, Dow and S&P 500, ended sharply lower mainly due to mounting concerns over inflation. Notably, recent sharp rise in commodity prices globally has already created apprehension among investors, which started weighing on global equities. With reopening of USA economy in a large way and expectation of sharp rise in pent up demand, concern of elevated inflation has mounted and therefore cyclical stocks also fell sharply yesterday. However, the speeches of Federal Officials remain favourable and continued to advocate dovish monetary policy of Federal Reserve. CPI print for April, which is to be published today, will be in focus. Binod Modi, Head Strategy at Reliance Securities
BSE Sensex gained 200 points while the broader Nifty 50 index was trading near 14,850 level in the pre-opening session on Wednesday.
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After a sharp pullback rally from 14415/48720, benchmark indices hovering in the range of 14750 to 14950/ 49600-49000. Currently, the Nifty is trading near its previous resistance level and on the intraday chart it has formed lower top formation which suggests temporary weakness. However, the larger texture of the market is still bullish and likely to continue in the medium term.
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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel were increased for the third consecutive day today. Petrol in Delhi today costs Rs 92.05 per litre, up 25 paise since yesterday. Diesel in Delhi costs Rs 82.61 litre, an increase of 25 paise. Prices were hiked for four consecutive days last week. 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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Lupin, Jindal Steel & Power, UPL Ltd, Asian Paints, Pidilite Industries, Tata Power Company, Voltas, Apollo Tyres, Happiest Minds Technologies, Mahindra Lifespace Developers, HG Infra Engineering, Sagar Cements, and Birla Corporation are some of the companies that will report their quarterly results today.
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After lagging behind Bharti Airtel for the last six months, Reliance Jio has returned to adding maximum wireless subscribers. In February, Jio added 4.26 million wireless customers followed by 3.73 million by Bharti Airtel. The company had launched a JioPhone offer on February 26, primarily targeting the 300 feature phone subscribers in the country.
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Domestic benchmark indices snapped their four-day gaining streak on Tuesday to end in the red. S&P BSE Sensex now sits at 49,161 while the Nifty 50 index is at 14,850. SGX Nifty was down 17 points during the early hours of Tuesday, hinting at a flat start for domestic markets. Cues from global peers were negative with Wall Street closing in the negative once again. Although benchmark indices closed in the red, there were some positives to be drawn.
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Global rating agency Moody’s on Tuesday sharply trimmed its India growth forecast for FY22 to 9.3% from 13.7% estimated in February, stating that the severe second wave of coronavirus infections will “slow the near-term economic recovery and could weigh on longer-term growth dynamics”.
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