(Image: REUTERS)
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets regained positive momentum on Thursday’s opening bell. S&P BSE Sense regained 52,000 on opening while the Nifty 50 mark was still below 15,700. Power Grid, Tech Mahindra, IndusInd Bank, and ITC were the top gainers on Sensex. Reliance Industries was also seen surging higher on the opening bell. Bajaj Auto, Asian Paints, and Maruti Suzuki India were the laggards on Sensex, accompanied by Bharti Airtel and ICICI Bank. Broader markets were outperforming benchmark during the early hours of trade. India VIX, the volatility gauge was up 2%, crossing 15 levels. Bank Nifty was up 0.26%.
Vaccination and front-loading of fiscal measures could be key to reviving investment and consumption in the economy, the finance ministry said on Wednesday. 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”. The report said that vaccinating 75-80% of the population, to achieve herd immunity, will boost consumer and producer confidence and reinvigorate the engines of economic growth.
“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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