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Share Market LIVE: Sensex trim opening gains, trade flat, Nifty below 15,800; RIL, HUL top index drags – The Financial Express

India VIX was trading flat on Friday.
(Image: REUTERS)

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity markets began Friday’s trading session in the green. S&P BSE Sensex was above 52,700 while the Nifty 50 index crossed 15,800. Among top gainers were IT stocks such as HCL Technologies, Tech Mahindra, accompanied by Tata Steel and Maruti Suzuki India. Reliance Industries continued to slip further as investors remain unimpressed by Mukesh Ambani’s massive new energy push, so far. Broader markets were outperforming headline indices. All sectoral indices, except Nifty FMCG and Nifty IT, were in the green on opening. Nifty Metal was the top sectoral gainer along with Bank Nifty.

“During normal times markets would be subject to sharp corrections when valuations are high. Such corrections remove excesses and make markets healthy. Therefore, periodic corrections in a bull market are desirable. But corrections need not happen when they are desirable. Market springs surprises. This resilient bullish trend has surprised even the market gurus. So, investors should remain invested, particularly in quality large-caps which are attracting investment even at high valuations. RIL’s big push for a transformational clean energy ecosystem that will  ” transform India from a major importer of fossil fuels to an exporter of clean energy” is a potential game-changing strategy. RIL’s vision to make clean energy a truly global business is good news not only for the planet but for shareholders too,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Sensex and Nifty began the day’s trade in the green. Nifty is trading above 15,800 and could face resistance ahead, according to technical analysts. IT stock were among top gainers.

“Benchmark indices is expected to open muted as trends on SGX Nifty indicate a flat opening for the index in India with a 10 points gain. The Nasdaq and the S&P 500 indexes hit all-time highs on Thursday, with the Dow also jumping, as U.S. President Joe Biden embraced a bipartisan Senate infrastructure deal. Asian markets were mostly higher tracking US markets overnight. Nikkei and Hang Seng rose 0.5 percent each, while Kospi and Taiwan index gained 0.7% each. Key companies announcing their quarterly results today are Atul Auto, Banco India and Finolex Industries. Immediate support and resistance for Nifty 50 are 15,600 and 15,900 respectively,” said Mohit Nigam, Head, PMS – Hem Securities.

Sensex and Nifty were trading just shy of their all-time highs on Friday morning. Sensex was near 53,000 while Nifty was above 15,800.

Nifty finds support around 15,703 while 15895 will act as resistance on the upside. Bank Nifty finds support around 34,592 while 35,250 will act as resistance.

~ IIFL Securities

BSE Sensex and Nifty 50 were set to open on a cautious note on Friday, as suggested trends on SGX Nifty in early trade. Nifty futures were just 7.50 points up at 15,845 on Singaporean Exchange. Chartists say that the Nifty has gone sideways and the range is between 15,400-15,900.

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“American markets ended in the green after a couple of days of uncertainty. Dow Jones closed at its 50 DEMA suggesting improving setup. Asia is trading in the green and SGX Nifty is suggesting a positive start. Nifty needs to cross multiple hurdles in the range of 15,800-15,900 and Bank Nifty needs to cross 35,400 for any meaningful upside. Bear grip if 15,600 get broken,” said Rahul Sharma, Director, Head – Technical Research, JM Financial. 

Petrol and Diesel Rate Today in Delhi, Bangalore, Chennai, Mumbai, Hyderabad: The price of Petrol and Diesel was left unchanged on Friday by oil marketing companies. Petrol price in Delhi today stands at Rs 97.76 per litre while Diesel in the capital city is retailing at Rs 88.30 per litre today. Fuel prices have been hiked 29 times since May 4 and 13 times this month, with the most recent hike yesterday. The price of petrol in Delhi has increased by Rs 7.07, while diesel price has surged Rs 7.88 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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SGX Nifty was up with marginal gains on Friday morning. Nifty futures were hinting at a muted start for domestic markets.

Indraprastha Gas, JSW Energy, Hindustan Copper, Finolex Industries, Shree Renuka Sugars, PNC Infratech, Godfrey Phillips, Railtel Corporation of India, Barbeque Nation, Forbes & Company, Balmer Lawrie and Inox Winds are among the companies that are scheduled to announce their January-March quarter earnings.

“The near term uptrend status remains intact for the Nifty, which is moving in a broader high low range of 15900-15500 levels. One may expect further upside towards 15900-16000 levels in the next few sessions, before showing next round of weakness from the highs. Immediate support is placed at 15670-15600 levels,” said Nagaraj Shetti, Technical Research  Analyst, HDFC Securities.

Sticking to its plan to achieve net-zero carbon status earlier than its global peers by 2035, Reliance Industries (RIL) on Thursday unveiled a mega plan for green and clean energy business. The company would make initial investments of Rs 75,000 crore out of its internal resources in the burgeoning area over the next three years, chairman Mukesh Ambani announced at the 44th AGM.

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India Pesticides IPO has so far seen retail investors and qualified institutional buyers (QIB) oversubscribe their portion of the issue, taking the overall subscription rate to 3.79 times the issue size. Non-institutional investors were still to fully subscribe their quota.

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