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Share Market LIVE: Sensex regains 48,000, Nifty breaches 14,400; ICICI Bank top gainer, Bank Nifty up 1.65% – The Financial Express

SGX Nifty gained on Thursday. (Image: REUTERS)Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets started the day’s trade in the negative. S&P BSE Sensex was down 400 points while the Nifty 50 index tanked below 14,200 on opening, but managed to regain the levels soon. IndusInd Bank, Tech Mahindra and Axis Bank were the top drags. Dr Reddy’s, Sun Pharma, along with HDFC and SBI were among the gainers on the index. Volatility was surging higher while broader markets were in the red. Nifty IT, Nifty Media, Nifty Metal, and Nifty Pharma were among the gainers. Bank Nifty fell 1.14%.As the second wave of the coronavirus pandemic wreaks havoc across the country and disrupts businesses, Care Ratings has revised down its forecast for GDP growth to 10.2 per cent in 2021-22 from an earlier projection of 10.7-10.9 per cent. “We have revised our forecast for GDP growth for FY22 as the underlying conditions have changed rapidly in the last 30 days or so. It stands now at 10.2 per cent,” they said. Earlier, on March 24, 2021, the agency had projected GDP growth between 11-11.2 per cent based on GVA (gross value added) growth of 10.2 per cent. This is the third revision to India’s growth made by Care Ratings in one month. As the virus spreads various states have announced lockdown measures in cities or districts, disrupting economic activity. 

The Bank Nifty index was up 2.25% as the top NSE sectoral gainer, ahead of the closing bell. The index had slipped into the red but managed to rebound.  

Among NSE Sectoral indices, Nifty FMCG, IT, and Nifty Pharma were trading with losses on Thursday, just ahead of the closing bell. 

India VIX, the volatility index continued to sit above 23 levels just ahead of the closing bell on Thursday.  

Among the top 6 Sensex gainers, 5 belonged to the financials sector. ICICI Bank was the top gainer surging 3.8%, followed by HDFC, HDFC Bank, SBI, and Kotak Mahindra Bank. 

“Nifty opened lower and even broke below Tuesday’s low bogged down by worries on rising infections. But that the opening cuts were not too deep, encouraged bargain hunters, who also took cues from fall in US Treasury yields as well as strength in the US as well as Asian equity markets. Metals led the gains, with +2% gain by noon, but it was a bounce in the banking stocks that gave strength to the forenoon’s upsides,” said  Anand James, Chief Market Strategist at Geojit Financial Services.

The stock price of ICICI Prudential Life Insurance is finding its lost ground after underperforming against its peer. The stock during the day was up by more than 13% and crossed above the high of March 2021 which signals resumption in bullish trend. On weekly chart, the lack of follow-up momentum by bears post the first half of March 2021 fall in stock has certainly caught the bulls focus. The higher high – higher low bullish structure as per Dow Theory and support of 100EMA (Exponential Moving Average) which is placed at Rs.433 excited bulls and the stock has been accumulated by smart investors in last four weeks. Bulls are having an upper hand as stock price broke out of falling trendline connecting the high of Rs.537.90 on 11th January 2021 and Rs.501 on 4th March 2021 at Rs.475. The breakout is more convincing when you witness more participation from bulls that can be identified by volumes. Brijesh Bhatia, Senior Research Analyst, Equitymaster

BSE Sensex was trading 375 points or 0.8 per cent higher at 48,081, while the broader Nifty 50 jumped 105 points or 0.73 per cent to trade at 14,401

Nureca shares were locked in the upper circuit for the 4th consecutive day on Thursday. Nureca jumped 5 per cent to Rs 1,218.60 apiece. It has gained 205 per cent against its issue price of Rs 400 per share.

Sensex regained 48,000 as the index jumped more than 800 points from its intra-day lows. 

The Bank Nifty index was up almost 1% on Thursday as index heavyweights such as ICICI Bank, HDFC Bank, Kotak Mahindra Bank, and SBI were all trading with gains.

Although benchmark indices and the broader markets have recouped losses and were trading flat at this hour, the volatility index was seen surging higher. India VIX once again crossed 23 levels, gaining 5%.

The second COVID-19 wave has proven to be more dangerous with India reporting over 3 lakh cases per day. The market has been witnessing a significant correction on the back of rising cases and re-imposed lockdown-like measures and strict restrictions across states. Axis Securities has revised down its Nifty’s December target by 6 per cent to 16,100 from 17,200 previously. In the wake of COVID-19 challenges, the government has proactively started undertaking measures to open up the immunisation program to cover a broader age group from 18 to 45 year old from May 1, 2021. Analysts at Axis Securities say that this has brought some clarity that the COVID-19 will likely get over in a finite time frame of next 6 months.

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Sensex and Nifty were trading flat with marginal gains on Thursday, rebounding after having opened deep in red. Nifty regained 14,300 while Bank Nifty was up 0.65%.

Nifty IT, Nifty Media, Nifty Metal, and Nifty Pharma are the sectoral indices that are trading with gains on Thursday. Nifty Bank index is down 0.33%.

Indian share markets are expected to see a ‘sharp correction’ soon, as profit booking continues in the coming weeks, Credit Suisse said. “We believe the equity market could see some further profit booking in coming weeks, but we expect this correction to be very sharp and to not last long,” Jitendra Gohil, Head of India Equity Research, and Premal Kamdar, Equity Research Analyst, Credit Suisse, said in a note. Sensex has turned negative year to date, falling 9% from mid-February highs.

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Midcap and smallcap indices were surging higher on Thursday even though the benchmark indices continued to trade with losses.

Sensex and Nifty have turned red for the year till date. Falling sharply from their mid-February highs, Sensex and Nifty have corrected nearly 9% so far. 

“The 14200 levels have been threatened again this morning. If we break today’s low which is around 14130, we should enter a bear phase and head towards 13800-13900. On the upside, the resistance is at 14550. Until we do not get past that, the bias is on the downside,” said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

Gold prices were trading between gains and losses on Thursday in Indian markets. On MCX, gold June futures were trading marginally higher at Rs 48,260 per 10 gram, against the previous close of Rs 48,228. Silver May futures were also trading volatile, down at Rs 70,323 per kg, against the previous close of Rs 70,338 per kg. In the previous session gold had touched an eight week high as sagging dollar and weaker US Treasury yields lifted demand for the safe-haven metal. 

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India VIX moved lower to give up 23 levels as Sensex and Nifty recovered some losses.

“The storm-like resurgence of Covid cases is impacting the economy as well as market sentiments. The localised lockdowns and severe restrictions on movements are sure to take a toll on the expected GDP growth for FY22. There is a downside risk of 1% to GDP growth which may pull down growth from around the expected 10.5% to 9.5%. But these are early days and if the second wave peaks soon and then starts declining, the damage is likely to be marginal. But uncertainty has impacted sentiments and the sustained selling by FIIs in April is a reflection of this concern. Due to the Covid second wave impact, India has been an underperformer in April. But this has the potential to reverse when the Covid graph peaks & declines. There is safety in IT & pharma stocks which will do well irrespective of the disruptions,” said  V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Nifty regained 14,200 after having opened down in the negative territory on Thursday.

Broader markets were down along with the benchmark indices on Thursday morning. Nifty 100, Nifty 200, and Nifty 500 indices were all down more than 0.80%.

The Bank Nifty index was down 1.43% on Thursday morning as benchmark indices tanked. Nifty PSU Bank and Nifty Private Bank were down 1.45% and 1.52%, respectively.

Ultratech Cement, IndusInd Bank, and Axis Bank were the worst-performing stocks on Sensex. While Ultratech Cement was down more than 3%, the two bank stocks were down over 2% each.

Sensex and Nifty began the day’s trade deep in red on Thursday morning. Sensex was down more than 450 points while the Nifty 50 index gave up crucial support zone of 14,200.

Benchmark indices were down in the red despite SGX Nifty hinting at a gap up start. Sensex fell more than 200 points while Nifty is nearing 14,200.

Sensex was now down nearly 200 points while the Nifty index was threatening to give up 14,200 during the pre-open trade.

Sensex and Nifty were trading flat in the pre-open session on Thursday morning. 

Domestic equity markets were staring at a positive opening on Thursday, after falling for two consecutive days. In the previous session, BSE Sensex ended at 47,705, while the broader Nifty 50 index closed at 14,296. Market participants will closely watch the rising COVID-19 cases, on-going vaccination drive, oil prices, rupee movement amid weekly F&O expiry. Meanwhile, global stock markets were seen trading largely positive.

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Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: Prices of Petrol and Diesel remain unchanged today for the seventh day running. Fuel prices were cut on April 15 after having remained unchanged for fifteen consecutive days earlier. Today, the Petrol price in Delhi is Rs 90.40 per litre, while Diesel prices were at Rs 80.73 per litre. Fuel prices remain the highest in Mumbai at Rs 96.83 per litre for Petrol. 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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SGX Nifty is up 114 points at this hour. Nifty futures surging higher hint at a positive start for domestic stocks markets. Sensex and Nifty have been falling for the last two consecutive trading sessions.

From the bygone era of boisterous ring trades and high-priced market intermediation to an epoch-making transformation in terms of tech-enabled, cost-effective, and democratic operations, the brokerage has truly come of age. While account opening and fund transfers for trading have become seamless in the online era, a plethora of AI-powered apps and tools are ready to help with prudent investing and trading based on stated goals and aspirations. Given the better choice and control at the hands of demand-side stakeholders, many discount broking players have emerged on the scene in what is a crowded marketplace, a market focused on price, not service.

Online broker Upstox now has 3 million accounts, growing 15X growth in the total customer base in 2020 against 2018. Upstox has logged 4X growth in the total customer base between 2019 and 2020.

A total of 12 BSE listed firms including Indus Towers, Rallis India, Sasken Technologies, Tata Elxsi, Visaka Industries, Amal, Fineotex Chemical, Filatex India, Hindustan BioSciences, Indbank Merchant Banking Services, and Ind Bank Housing will announce their January-March quarter earnings on April 22.

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“The Nifty index has been hovering below 50 days EMA from the last couple of days and also trading below the neckline of Double Top pattern, which suggests more downside move below the levels of 14,200. At present, the Nifty index may find immediate support at 14,000 levels, while on the upside, 14,500 would be the resistance zone,” said Sumeet Bagadia Executive Director Choice Broking.

SGX Nifty was trading 100 points higher on Thursday morning amid positive global cues. 

Assuring the industry of full government support, finance minister Nirmala Sitharaman on Wednesday urged the industry to wait and watch for next few days to assess the situation amid the second wave of Covid-19 pandemic. Along with the new vaccination guidelines and with the five-fold strategy adopted in handling the Covid cases — test, track, treat, Covid-19 protocols and vaccination — there will be a sense of reassurance, Sitharaman said.

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With economic activities getting affected across the country due to curbs imposed by states amid surge in COVID-19 cases, Care Ratings has revised down its forecast for GDP growth to 10.2 per cent in 2021-22 from earlier projection of 10.7-10.9 per cent.  This is the third revision by the rating agency in the last one month.

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