Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity benchmarks BSE Sensex and Nifty 50 were trading over half a per cent up on Monday, on the back of positive global cues. BSE Sensex was hovering around 52,680, while the Nifty 50 index crossed 15,750. UltraTech Cement, ICICI Bank, Maruti Suzuki, State Bank of India (SBI), Axis Bank, Kotak Mahindra Bank among top index gainers. Bajaj Finserv, HDFC Banka nd Hindustan Unilever Ltd (HUL) were top Sensex laggards. All the Nifty sectoral indices were trading in the green, led by Nifty Realty and Nifty Auto indices. Bank Nifty index was nearing 36,000, Nifty IT index was up half a per cent.
With India’s story remaining “very strong”, the economy will register double-digit growth in the current fiscal and the disinvestment climate also looks better, said Niti Aayog Vice Chairman Rajiv Kumar. He also asserted that the country is prepared in a far better manner in case there is a COVID wave as states have also their own lessons from the previous two waves.
The Nifty has bounced from Friday’s low and is once again trading around the mid point of the range which is between 15400-15900. If we can scale higher and get past 15900, we should be able to achieve 16100. Until then trading is going to be lackluster with tepid volumes. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments
IRCTC share price jumped nearly one per cent to trade at Rs 2,240, on BSE. It hit a record high of Rs 2,248 last week
Domestically, the rupee snapped its week-long losing run due to consistent flows on account of IPO and a broad risk-on mood. Attention will now turn to flows on account of Zomato’s IPO this week for Rs. 9375crs. That apart, sentiments remain boosted after China cut the banks’ reserve requirement ratio by 50bps providing some liquidity easing. Investors now await India’s IIP and CPI Inflation that will be released today and WPI inflation on Wednesday for further clues on the rupee. Overall, strong inflows into the domestic equity market could limit the upside in the pair while any intervention in spot by RBI downside could cap extended gains. This has led to the short-term range for the USDINR pair confined into the 74.20-74.95 zone. Amit Pabari, managing director, CR Forex Advisors
All the Nifty sectoral indices were trading in the green, led by Nifty Realty and Nifty Auto indices. Bank Nifty index was nearing 36,000, Nifty IT index was up half a per cent
Bajaj Finserv, HDFC Bank and Hindustan Unilever Ltd (HUL) were top Sensex laggards
UltraTech Cement, ICICI Bank, Maruti Suzuki, State Bank of India (SBI), Axis Bank, Kotak Mahindra Bank among top index gainers
BSE Sensex was trading 284 points or 0.54 per cent up at 52,670, while the broader Nifty 50 index surged 85 points or over half a per cent to trade at 15,773.
Check Sensex, Nifty live levels
The Nifty is approaching maturity of price/time wise correction, the shallow price correction along with prolonged time consolidation signifies strong base formation at 15500. The ongoing volatility indicates that couple of weeks’ breather cannot be ruled out, however eventually we expect Nifty to resolve out of four-week consolidation of (15500-15900) and head towards our target of 16100 in coming weeks.
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The chart pattern suggests that if Nifty crosses and sustains above 15800 level it would witness buying which would lead the index towards 15900-16300 levels. However, if the index breaks below 15600 level it would witness selling which would take the index towards 15400-15300. Nifty is now well placed above its 50 and 100 SMA indicating positive bias in the short term. Nifty is expected to remain in an uptrend to sideways zone until it breaks 15600 on the downside. For the week, we expect Nifty to trade in the range of 15900-15600 with mixed bias.
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Commodity prices traded mixed with most of the commodities in the Non-Agro segment traded higher while crude oil and silver prices ended in red. Gold prices traded higher on lower bond yields while base metals traded higher on lower supply concerns and higher demand. Crude oil futures hovered on mixed fundamentals with delayed OPEC decision on output quota.
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Nifty futures were trading 69.50 points or 0.44 per cent higher at 15,797.50 on Singaporean Exchange, suggesting a positive start for BSE Sensex and Nifty 50 on the first day of the week. Asian peers were seen trading up to 2 per cent, on the back of gains on Wall Street. US main indices posted record closing highs in overnight trade on Friday. According to technical analysts, Nifty/Sensex held 15635/ 52250 support and reversed sharply which indicates a strong possibility of a quick pullback rally from current levels.
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Ratan Tata, chairman emeritus of Tata Sons, would have been in a different profession today, if he were not heading the Tata Group. Tata regrets that he was not able to practice architecture for long, despite earning a degree from Cornell University in 1959. In a video interview, the industrialist and philanthropist said that he always wanted to be an architect, as it interested and motivated him.
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While Prime Minister Narendra Modi’s government faces growing clamour to rein in rising petrol and diesel prices by cutting taxes, the reason for it not yielding to the demand can be traced back to the early 2000’s. The present and the next governments have a bill worth Rs 1.3 lakh crore to pay, thanks to the then governments’ largesse of keeping petrol and diesel prices in check.
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Quarterly earnings from IT majors Infosys and Wipro, macroeconomic data announcements and global cues would be the major drivers for the equity markets this week, said analysts. Leading IT companies Infosys and Wipro and other players such as Mindtree, Tata Elxsi and HDFC AMC would announce their financial results this week.
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“We are now hopefully getting past our (COVID-19) pandemic… and the economic activities will be strengthened as we get into the second half of this (fiscal) year given what I have seen for example various indicators, including the mobility indicators,” Kumar told PTI in an interview.
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