Share Market Highlights- Nifty adds 0

Share Market Highlights: Nifty adds 0.35%, settles under 18,600, Sensex below 62,800 pts, Bank Nifty tops 44,100 at close

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic indices BSE Sensex and NSE Nifty closed in the green on Monday. After trading in a tight range, Nifty 50 settled just under 18,600 at 18,598.5, while Sensex added 240 points to 62,787. Bank Nifty jumped over 160 points to close above 44,100. In the broader markets, Nifty Midcap 100, that touched a fresh lifetime high last week, settled flat, up 0.14%, while NSE Smallcap 100 added 0.36%. Sectorally, Nifty Auto added 1.26%, while Nifty IT slipped up 0.3%. Public lender index, Nifty PSU Bank tanked 0.43%, Nifty Pharma was 0.26% in the green, as Nifty Media surged 0.88%.Live Updates 15:41 (IST) 5 Jun 2023 Nifty top losers

On the NSE Nifty 50 index, Divi's Lab, Asian Paints, TechM, Hero MotoCorp and Nestle India are the top losers of the day, with Divi's Lab falling 1.3%.

15:40 (IST) 5 Jun 2023 Nifty top gainers

On the NSE Nifty 50 index, M&M, Axis Bank, Tata Motors, L&T and Grasim are the top gainers of the day, with M&M up almost 4%.

15:36 (IST) 5 Jun 2023 Markets at close

After a range-bound session, markets extended gains for the second day. Nifty 50 added 65 points to close at 18,589.5 while Sensex gained 0.35% to 62,787.

15:19 (IST) 5 Jun 2023 Paints and adhesives sector sees recovery

“After a weak Q3FY23, paints and adhesives players saw strong demand revival in Q4FY23. All companies’ top line growth ranged from high-single-digit to double-digit; most also saw double-digit YoY volume growth.”

– Nuvama

14:03 (IST) 5 Jun 2023 Reliance gains 1%

Reliance Industries gained 1% in trade on Monday, to Rs 2480 apiece.

13:11 (IST) 5 Jun 2023 Nifty 50 winners, losers

On the NSE Nifty index, the top winners are M&M, Axis Bank, Tata Motors, Grasim, Sun Pharma, with M&M up 3.29%. The biggest laggards are Divi’s Lab, Asian Paints, BPCL, TechM, Hindustan Unilever, with Divi’s Lab down 1.38%.

12:18 (IST) 5 Jun 2023 May Services PMI

India’s services sector growth eased slightly in May, but registered the second-strongest rate of growth in close to 13 years, on favourable demand conditions and new client wins, a monthly survey said on Monday. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell from 62 in April to 61.2 in May.

12:06 (IST) 5 Jun 2023 Indian bonds last week

“Indian Bond markets stayed resilient on back of improving macro-variables as short-term money market yields came down on improving banking liquidity. The yield curve remained flat as investor demand continued unbated for long tenure securities. The interbank liquidity as denoted by the absorption in the SDF window increased to Rs.3 Lac.Cr. as government spending picked up. The 10yr Bond stayed below 7% ending the week at 6.98.”

– Puneet Pal, Head – Fixed Income, PGIM India Mutual Fund

11:27 (IST) 5 Jun 2023 PSU Banks fall

PSU bank share prices slip in trade, as Nifty PSU Bank traded flat at 0.09% in the green. Bank of Maharashtra fell 1.9%, while Punjab & Sind Bank tanked 1.05% and UCO Bank fell 0.73%.

10:34 (IST) 5 Jun 2023 Nifty to remain range-bound

“Expect sideways trades today, with sellers waiting to dominate on rise. Bulls will need an hour’s close or so above 18585 to tilt the bias in their favour.”

– Anand James, Chief Market Strategist, Geojit Financial Services

10:01 (IST) 5 Jun 2023 Sectoral outlook

“Even though banking is a crowded trade, the sector will remain resilient since interest rates have peaked and credit growth continues to be robust. Autos have the potential to outperform since there are clear signs of revival in demand. Midcap IT is far outperforming largecap IT.”

– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

09:32 (IST) 5 Jun 2023 Market outlook

“Market is poised to break out of the range of 18300-18600. Nifty has moved up by 9.5% from the March lows and the market momentum is strong. Macro news flows are positive for a breakout of the upper range. But more activity is likely to be in the broader market where many mid and Smallcap stocks are breaking out. There is valuation comfort in the mid and Smallcap universe.”

– V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

09:29 (IST) 5 Jun 2023 Bank Nifty gains

Banking index, Bank Nifty soared 250 points to top the 44,000 level at 44,182 in early trade on Monday.

09:26 (IST) 5 Jun 2023 Sectoral update

Sectorally, Nifty Auto rose by 0.7%, Nifty IT was 0.2% higher. Public lender index, Nifty PSU Bank added 0.43%, Nifty Pharma was flat at 0.1% in the green, as Nifty Media surged 1.12%.

09:19 (IST) 5 Jun 2023 Markets at open

Domestic indices BSE Sensex and NSE Nifty gained on Monday. Nifty 50 surged 96 points to cross the 18,630 level, while Sensex rose 350 points to top 62,900. Bank Nifty advanced 250 points to 44,181.

09:09 (IST) 5 Jun 2023 Markets at pre-open

NSE Nifty 50 and BSE Sensex closed the pre-open session with gains on Monday. Nifty added 80 points to cross the 18,600 level, while Sensex rose 209 points to 62,756.

09:05 (IST) 5 Jun 2023 Gold, silver outlook

“Globally, gold and silver were unable to hold on to their early session gains and plunged again. The new jobs report pushed the US dollar and yields higher and weighed on the precious metals. We expect gold and silver to remain volatile in today’s session. In INR terms gold has support at Rs 59,540-59,380, while resistance is at Rs59,920, 60,150. Silver has support at Rs71,380-70,820, while resistance is at Rs 72,340–72,720.”

– Rahul Kalantri, VP Commodities, Mehta Equities

08:54 (IST) 5 Jun 2023 SGX Nifty up 100 points

Nifty futures on the Singaporean exchange jumped over 100 points in early trade on Monday, indicating a positive start for the domestic indices. SGX Nifty traded at 18,728.5.

08:45 (IST) 5 Jun 2023 RBI MPC outlook

The RBI monetary policy committee will meet this week with the interest rate decision due on Thursday, 8th June. Consensus expectations are of a continued pause.

08:41 (IST) 5 Jun 2023 Crude oil outlook

Oil prices soared after Saudi Arabia announced that it would cut its output to 9 million barrels per day in July from around 10 million bpd in May.

08:40 (IST) 5 Jun 2023 Levels to watch

“Intraday traders can look for long opportunities above 18,600 if the closing comes above 18,600 in 15 minute chart. Traders can look for fresh shorts only if Nifty breaks the 18,460 level & remains below for 15 minutes to ensure short.”

– Stoxbox

08:36 (IST) 5 Jun 2023 Weekly expiry outlook

“For the weekly expiry in Nifty, the cumulative open interest on the call side currently stands at Rs 9.5 crore, while it is Rs 7.0 crore on the put side. As a result, the Open Interest PCR (Put-Call Ratio) has decreased to 0.74. This indicates a higher concentration of open interest in call options compared to put options, reflecting a sentiment of caution and expectation of resistance levels on the higher side.”

– Arvinder Singh Nanda, Senior Vice President, Master Capital Services

08:35 (IST) 5 Jun 2023 Sectoral performance last session

“Bank Nifty ended slightly higher, Nifty Reality and Metal indices performed well. Nifty Midcap and Nifty SmallCap saw slight gains, Nifty IT declined.”

– Prashanth Tapse, Senior VP (Research), Mehta Equities

08:03 (IST) 5 Jun 2023 FII, DII activity last week

FIIs bought Rs 6,519.7 crore in the cash segment, while DIIs sold Rs 1,043 crore last week.

08:01 (IST) 5 Jun 2023 Factors to watch this week

In the upcoming week markets will continue to track India’s RBI monetary policy, IIP, while on the global front factory orders, Services PMI, API weekly Crude oil stock and initial jobless claims in the US are important events to watch.

07:59 (IST) 5 Jun 2023 Currency outlook

“Upbeat US NFP, debt-ceiling deal optimism allow US Dollar to remain firmer. Pre-Fed blackout prod USD buyers amid receding hawkish bias for Fed. Oil rallies after production cuts. For USDINR, 82.30 acts as a support while 82.65 a resistance.”

– Kunal Sodhani, VP, Global Trading Center, Shinhan Bank

07:58 (IST) 5 Jun 2023 Asian Markets

Shares in the Asia-Pacific region were trading primarily in the green. China’s Shanghai Composite advanced 0.61% in trade, while Japan’s Nikkei 225 jumped 1.75%. Hong Kong’s Hang Seng index gained 0.30% while South Korea’s Kospi added 0.36%. The Taiwan Weighted index edged up 0.28%.

07:58 (IST) 5 Jun 2023 US stocks on Friday

The tech-heavy Nasdaq index surged to a 13-month intraday high and posted its sixth-straight week of gains that marked its best winning streak since January 2020 on Friday. The S&P 500 advanced 1.45%, Nasdaq gained 1.07%, while Dow Jones Industrial Average added 2.12%.