Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices began trading deep in red on Monday morning amid negative global cues. S&P BSE Sensex was down nearly 500 points or 1% on the opening bell while Nifty 50 gave up 15,800. NTPC, HCL Technologies, Titan, and Nestle India were the only stocks on Sensex to be trading with gains. HDFC Bank and HDFC were down more than 2% each as the top laggards, followed by ICICI Bank, IndusInd Bank, Axis Bank, and SBI. Bank Nifty was down 1.5%, just above 35,200. India VIX surged 5.85%.
Amid the IPO bonanza, investors will continue keeping an eye on Tatva Chintan pharma’s IPO this week. The public issue opened on Friday and was oversubscribed within two hours. Investors can bid for the public issue in the fixed price band of Rs 1,073 – Rs 1,083 per equity share in the bid lot of 13 shares and multiples thereafter. So far this issue has been subscribed more than 4 times. Domestic markets will also see fresh listing on the stock exchanges today as GR Infrastructure and Clean Science make their market debuts. Both the IPOs had attracted strong investor interest. Apart from the IPOs, investors will keep tabs on the monsoon session of the parliament, getting underway today. The government has lined up as many as 26 Bills for consideration and passing during the session which will have 19 sittings ending August 13.
GR Infraprojects shares made a strong listing on the stock exchanges on Monday, doubling over the IPO price, in an otherwise weak market. Shares of the debutant company began trading at Rs 1715.85 per share on NSE, up Rs 878.85 or 105 per cent from the issue price of Rs 837 apiece. GR Infraprojects had a market capitalization of Rs 16,437.13 crore on the listing. While, on BSE, GR Infraprojects shares got listed at Rs 1,700 apiece, rising Rs 863 or 103.11 per cent over the IPO price. Soon after listing, it hit a high of 1,734.60 apiece, surging 107.2 per cent from the issue price.
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The downside marker of 15885 held to perfection on Friday, but the slippage having occurred in the second half of the day, the inference is that there is still a quest for bargain hunting, rather than an eagerness to look beyond 16000. This is a failure move, forcing us to stare at the disappointing range of 15600-900 again until VIX rises substantially enough. Yet, within this construct, Nifty is likely to attempt to close above 15800, success of which could set the tone for the week.
~ Geojit Financial Services
Clean Science and Technology shares made a bumper listing on the stock exchanges today even as bears marred the overall market sentiment. Clean Science and Technology stocks began trading on the bourses at Rs 1,784 per share, up 98.27% or Rs 884.40 per share from the IPO price of Rs 900 apiece. A specialty chemical manufacturer, Clean Science has a global presence with a focus on developing green chemicals. The company manufactures specialty chemicals such as Performance Chemicals, Pharmaceutical Intermediates, and FMCG Chemicals. On listing, Clean Science and Technology had a market capitalization of Rs 18,953 crore.
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Sensex and Nifty, after having opened deep in red, were seen trimming losses. Nifty had regained 15,800 while Sensex was above 52,700 once again.
“All the major US indices ended lower (~1%) on Friday due to concerns regarding elevated inflation and rise in Covid 19 cases in various parts. European markets also closed lower on Friday. Most of the Asian markets slipped again in the early Monday trade with Nikkei trading 1.5% down and Hang Seng trading -2% down. Some stock specific actions can be witnessed in stocks such as Tata Power & HPCL (both partnered to provide end-to-end EV charging stations), Rossari Biotech (To buy Tristar Intermediates for Rs 120 crore), Sundaram Finance (Plans up to Rs 500 crore two-part bond sale). Earnings to watch today include HCL Tech, Alok Industries, Mastek, Swaraj Engines, HDFC Life Insurance etc. GR Infraprojects and Clean Science & Technology will debut on stock markets today. Immediate support and resistance for Nifty 50 are 15,600 and 15,900 respectively,” said Mohit Nigam, Head, PMS – Hem Securities.
Domestic benchmark indices began trading deep in red on Monday morning, amid negative global cues. Sensex and Nifty were both more than 1% each. Bank stocks were among the top laggards.
Last week Nifty closed at 15923 above its key resistance level of 15900. Today Nifty is expected to open with a gap down of over 200 points at 15700. As long as Nifty holds above 15600 traders can look at buying on breakouts. Below 15600 there is a high possibility Nifty will test 15400 and 15200 in the coming days. Markets are near all-time high levels and it is advisable to be cautious than greedy. Gaurav Udani, CEO & Founder, ThincRedBlu Securities
Sensex and Nifty ended the pre-open session down 1% each. Sensex slipped 533 points while Nifty 50 was down 159 points.
The chart pattern suggests that if Nifty crosses and sustains above 15950 level it would witness buying which would lead the index towards 16100-16300 levels. However if the index breaks below 15800 level it would witness selling which would take the index towards 15700-15600.
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On expected lines, Nifty regained upward momentum after approaching maturity of price/time wise correction. The buying demand emerged from an elevated support base of 15600 that helped index to resolve out of past five weeks consolidation (15900-1500). As a result, our buy on dips strategy worked well. The weekly price action formed a bull candle with small lower shadow, indicating resumption of primary up trend.
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Sensex and Nifty were down in the red during the pre-open session on Monday. Sensex began 900 points lower but recouped some losses, Nifty was below 15,800.
On Friday, despite downward oscillation, NIFTY-50 managed to hold 15,900 zone. Its momentum indicator-RSI declined gradually and is negatively poised. Overall market breadth turned positive, while sectoral trend remained mixed. As per the current set-up, the index will either keep oscillating in the narrow range or it will rebound after a minor decline. In case of decline, the index will find supports at around 15,840-level initially and 15,765-level subsequently, which coincides with its 38.2% and 61.8% Fibonacci Retracement levels of prior up-move (15,645-15,962), respectively. However a stable move above 15,900 level could take the index towards 16,000-16,100- 16,350 levels. As for the day, support is placed at around 15,883 and then at 15,843 levels, while resistance is observed at 15,963 and then at 16,002 levels.
~ Reliance Securities
SGX Nifty is still down more than 200 points. Nifty futures trading deep in red ahead of opening bell hints at a negative start for domestic equity markets.
In the F&O space, FII activity remained subdued since the inception of July series and FIIs were seen primarily as buyers in the index futures and stock futures segment. While they were net buyers in index futures worth Rs. 3825 crore, they also brought to the tune of Rs 1037 crore in stock futures. At the same time, FIIs bought index options worth Rs 793 crore during the week.
The Nifty maximum concentration among weekly Nifty put options has shifted higher to 15,900 from 15,800 on Friday, while among call options high call OI at 16,000 strike. This broadly suggests traders expect the Nifty to rise above 16,000 and do not expect the index to fall below 15,900. But a move below 15850-15800 may keep the ongoing range bound between 15,500-16,000 movement intact.
In the coming session, the trading spot band is between 15,860 and 15,980, which means further upsides are likely once the immediate resistances of 15,980 are taken out and weakness could emerge if the supports of 15,860 are broken.
Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of Petrol and Diesel were left unchanged at record highs on Monday by oil marketing companies. While petrol prices were increased over the weekend Diesel prices have remained largely steady. Petrol in the national capital now 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. 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. 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 Sensex and Nifty 50 were staring at a negative opening on the first day of the week, as suggested by trends on SGX Nifty in early trade. Nifty futures tanked 223 points or 1.40 per cent to 15,713 on Singaporean Exchange. In the holiday-shortened week, first-quarter earnings, oil prices, rupee movement and other global developments will guide the markets today. Moreover, COVID-related updates and progress of monsoon will remain in focus.
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“Nifty 50 index closed positive for the (previous) week, however, the market is now constrained within a small range of 400 points and is struggling to take a decisive direction. Markets are trading overbought in the short term and majority of this rally has come on a slowed-down momentum as compared to the major uptrend. 15600 zone has been established as a strong support and until that breaks we suggest traders to maintain a cautiously bullish outlook. A decisive close above 15950 may trigger a test of 16200 on the higher side,” said Nirali Shah, Head of Equity Research, Samco Securities.
Nifty is expected to challenge psychological mark of 16000 in coming truncated week and eventually head towards 16300 in coming months. Index has resolved out of five weeks consolidation signaling resumption of the uptrend, on expected lines, after maturity of price/time correction. We expect BFSI, IT, Infra, Realty and Metals to lead the rally while Auto and Consumption space provides margin of safety at current levels. Our preferred large-cap picks are Axis Bank, Bajaj Finance, Infosys, Asian Paints, Hindalco, Ultratech Cement, M&M while, in midcaps we like Havells, Birla soft, Vardhaman Special steel, Mahindra life, Indocount industries, Glenmark Pharma, PNC Infra, Sandhar Technologies, Interglobe aviation.
~Dharmesh Shah, Head – Technical, ICICI Direct
Commodity prices traded mixed with gold prices ending in green while the rest of the commodities in the non-agro segment witnessed selling during the previous week. Crude oil prices reported the worst week in months on expectations of OPEC deal and weaker demand while base metals hovered in range with mixed fundamentals.
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BSE-listed companies such as HCL Technologies, HDFC Life Insurance Company, ACC, Indian Bank, Mastek, Alok Industries, GTPL Hathway, Nippon Life India Asset Management, Ponni Sugars (Erode), PSP Projects, Supreme Petrochem, and Swaraj Engines, will announce April-June quarter results on July 19.
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SGX Nifty was down 239 points ahead of the opening bell on Monday morning. Sensex and Nifty had scaled fresh highs during the previous week but ended Friday’s session in the red with marginal losses.
The initial public offering of Tatva Chintan Pharma was oversubscribed within two hours of Friday. The IPO continued to attract investors throughout the day with retail investors and HNIs oversubscribing their portion of the issue.
The monsoon session of Parliament will kick off on Monday with a rather heavy legislative agenda, even as the Opposition is determined to put the government in the dock over a clutch of issues ranging from price rise to alleged mishandling of the second Covid wave. In the session scheduled to have just 19 sittings, as many as 26 Bills are listed for consideration and passing, while more could be tabled including key amendments to the relevant laws to facilitate privatisation of a couple of public sector banks and one general insurers in the current financial year, according to sources.
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