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Share Market LIVE: Sensex turns positive, Nifty nears 15,450; RIL, Bharti Airtel stocks jump over 1% each – The Financial Express

The Nifty sectoral indices were mixed, with Nifty Auto index, down 1.4 per cent.

Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 fell in Monday’s session, on the back of weak Asian cues. BSE Sensex was hovering around 51,450, while the Nifty 50 index was above 15,400. ITC, Asian Paints, Bharti Airtel, ICICI Bank, Dr Reddy’s, RIL were among top Sensex gainers. Mahindra & Mahindra was the worst performer on Sensex, followed by Housing Development Finance Corporation (HDFC), Infosys, IndusInd Bank, Tech Mahindra. The Nifty sectoral indices were mixed, with Nifty Auto index, down 1.4 per cent. While Nifty Pharma and Nifty Metal indices gained 0.7 per cent, each.

The National Statistical Office (NSO) will release the GDP growth estimates for the January-March quarter of FY21, and the provisional annual estimates for the year 2020-21 on May 31, 2021. The May 20-27 poll conducted by news agency Reuters with 29 economists showed that the economic outlook was lowered to 21.6 per cent annually, and to 9.8 per cent on average for this fiscal year, down from 23 per cent and 10.4 per cent respectively a month ago.

The index has a minor resistance between 15450-15485. If we can cross this hurdle, the markets should be able to conquer 15600-15700. The support for the Nifty has been upgraded to 15300-15350 and as long as we are able to hold this level on a closing basis, we are in bullish territory and minor dips or mild corrections can be utilized to buy into this market. Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

COMEX gold trades marginally higher by 0.35% near $1912/oz after a 0.4% gain on Friday. Gold continues to hold above $1900/oz as Fed and other central banks emphasize on continuing with loose monetary policy. However, ETF outflows and weaker demand in India amid continuing virus related restrictions might cap the gains. Gold has continued to hold above $1900/oz however any sustained rise may be challenged by pause in US dollar index fall. Ravindra Rao, CMT, EPAT, VP- Head Commodity Research at Kotak Securities

The Indian economy’s resilience will be tested by its ability to overcome a devastating outbreak of Covid-19, although no one’s yet doubting its potential to pull off the world’s fastest pace of growth among major economies this year. The economy is on track to grow 10% in the year that began April 1, according to the median of 12 estimates compiled by Bloomberg News. That’s after several economists downgraded their forecasts in recent weeks to factor in local curbs on activity, including in India’s political and commercial hubs.

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On the domestic front, all eyes move to GDP data for the March quarter, and infrastructure output slated to be out today. Also, the next focus remains on the RBI monetary policy committee (MPC) meeting scheduled for Friday, June 4 with expectations that RBI will maintain its accommodative stance considering the impact of the second covid wave on the economy. The continued trend of falling cases has raised investors’ hopes of unlocking the economy sooner. On the other hand, any intervention by RBI shall cap sharp gains in the rupee. Technically, the USDINR pair gains strong support near 72.30 levels. On the north side, it is facing strong resistance near 72.70 and 73.20 levels. Amit Pabari, managing director, CR Forex Advisors

The Nifty sectoral indices were mixed, with Nifty Auto index, down 1.4 per cent. While Nifty Pharma and Nifty Metal indices gained 0.7 per cent, each

Mahindra & Mahindra was the worst performer on Sensex, followed by Hosuing Development Finance Corporation (HDFC), Infosys, IndusInd Bank, Tech Mahindra

ITC, Asian Paints, Bharti Airtel, ICICI Bank, Dr Reddy’s, RIL were among top Sensex gainers

Nifty resolved higher and surpassed the lifetime high of 15400. The weekly price action formed a significant bull candle carrying higher high-low, indicating acceleration of upward momentum. We expect, Nifty to resolve higher and head towards our revised target of 15700 in June, as it is 123.6% external retracement of February-April correction (15432-14151). 

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BSE Sensex was trading in red, down 53 points at 51,369, while the broader Nifty 50 index was above 15,400

Check live Sensex, Nifty levels

The index is moving in a Higher Top and Higher Bottom formation on the weekly chart indicating positive bias. The chart pattern suggests that if Nifty crosses and sustains above 15500 level it would witness buying which would lead the index towards 15650-15800 levels. However if the index breaks below 15300 level it would witness profit booking which would take the index towards 15200-15100.

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Commodity prices traded higher during the week passed by with Bullion prices extended weekly gains after witnessing a minor correction in mid-week. Base metals complex edged higher recovering from recent lows on higher demand optimism. Crude oil prices rallied by more than 4% following strong US economic data.

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BSE-listed companies such as Chemcon Speciality Chemicals, Aurobindo Pharma, Honeywell Automation India, Jamna Auto Industries, JBF Industries, Kolte-Patil Developers, Lloyds Steels Industries, Magma Fincorp, Man Industries, Marksans Pharma, Narayana Hrudayalaya, Prakash Industries, Rupa & Company, Shilpa Medicare, Uttam Galva Steels, Vascon Engineers, and Venus Remedies, among others will release their Jan-Mar quarter earnings on May 31.

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Foreign portfolio investors (FPI) turned out to be net sellers for second month in a row by taking out nearly Rs 1,730 crore from Indian markets in May as second wave of the coronavirus pandemic spooked investor sentiment.

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US stocks climbed on Friday as both the Dow and S&P 500 indexes clinched their first weekly gain in the past three weeks. The Dow Jones Industrial Average rose 0.19 per cent, the S&P 500 gained 0.08 per cent, and the Nasdaq Composite added 0.09 per cent.

Stock markets in Asia were trading in the negative territory on Monday morning with Japan’s Nikkei 225 falling 0.71 per cent while the Topix index fell over half a per cent. South Korea’s Kospi edged 0.14 per cent lower.

India’s economic outlook has weakened again, albeit slightly, with worst-case scenario forecasts suggesting the toll from the coronavirus pandemic could be much deeper, stoking fears the job crisis may worsen over the coming year, a Reuters poll found. Renewed restrictions to curb the current coronavirus wave have stalled economic activity, leaving many millions out of work and pushing economists – who have broadly been bullish – to downgrade their views for the second time since early April.

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